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Convocation ceremony for 2nd batch of JAT Pintharoo Shilpee Abhiman Graduates concludes successfully

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JAT Holdings PLC, the market leader for wood coatings in Sri Lanka, recently witnessed its 2nd batch of carpenters and woodcraftsmen successfully complete the JAT Pintharoo Shilpee Abhiman programme, receiving National Vocational Qualifications (NVQ), in partnership with the National Apprentice and Industrial Training Authority (NAITA). The JAT Pintharoo Shilpee Abhiman programme, initiated in 2021, reflects JAT Holdings’ commitment to uplifting the wood coatings industry by providing recognition, financial stability, and professional training to painters and carpenters. This long-term initiative is designed to enhance industry standards and empower individual woodcraftsmen who demonstrate exceptional skill, but have not had the opportunity to pursue formal certification.

Accordingly, the 2nd JAT Pintharoo Shilpee Abhiman Convocation Ceremony was held on the 16th of June 2023 at the JAT Holdings Auditorium. The Ceremony witnessed the graduation of 113 woodcraftsmen, who received NVQ Level 3 Certification from NAITA, in Wood Craftsmanship (Furniture Finishing). The event was graced by distinguished figures from the industry, National Bodies, NAITA and the Management of JAT Holdings PLC. The Chief Guest at the event was none other than, S.H.Harischandra,Vice Chairman, NAITA, whose presence lent an air of honour and prestige to the occasion. With the 2nd Convocation now complete, JAT Pintharoo Shilpee Abhiman has provided NVQ Level 3 certification to over 250 candidates.

Keynote addresses were delivered on the occasion of the 2nd JAT Pintharoo Shilpee Abhiman Convocation Ceremony by Dr Udena Wickramasinghe – Chairman of the Tertiary and Vocational Education Commission, HS Harischandra – Vice Chairman of NAITA, and Wasantha Gunaratne – Director Sales and Technical at JAT Holdings PLC. Also of noteworthy presence at the event were the Chairman of NAITA, . W Ruchika Amerasekara, and Founder and Managing Director of JAT Holdings PLC,Aelian Gunawardana.

JAT Pintharoo Shilpee Abiman is an ongoing programme that is implemented in two stages. Phase 1 of the programme involves the innovative JAT Loyalty Programme, which was rolled out in 2019. Diverging from conventional loyalty programs, JAT Loyalty allows customers (woodcraftsmen who are choose JAT products) to convert loyalty points into a monetary benefit through exclusive JAT branded debit cards, issued in partnership with Commercial Bank of Ceylon PLC, whilst also enjoying other privileges with JAT. This unique financial empowerment initiative has provided painters with increased financial stability, opportunities for savings and investment, and long-term financial independence for woodcraftsmen.

Reflecting on the success of JAT Pintharoo Shilpee Abhiman, Chief Guest, Mr. S.H.Harischandra,Vice Chairman, NAITA expressed, “The collaboration between JAT Holdings and NAITA has been truly transformative for the wood coatings industry. By providing uncertified skilled individuals with the opportunity to obtain official recognition and certification, we are not only elevating their career prospects but also enhancing the overall status of the industry. This partnership has been instrumental in promoting lifelong learning, skills development, and even international job opportunities for the graduates, enabling foreign earning and investments to the country, along with knowledge and skills growth.”

“JAT Pintharoo Shilpee Abhiman stands as the pinnacle achievement in the realm of painters, serving as the highest qualification one can aspire to in wood coatings and finishes. With a trailblazing spirit, JAT pioneered the art of wood coatings in Sri Lanka, revolutionizing industries and transforming the very fabric of craftsmanship. Embarking on this transformative journey in 1999, JAT undertook a mission to uplift the skills of painters through dedicated technical training programs. Over the years, these initiatives have empowered countless painters, nurturing their talents and honing their expertise. Today, the culmination of these tireless efforts is epitomized by the JAT Pintharoo Shilpee Abhiman program, an esteemed testament to their unmatched skills, recognized both locally and internationally. This prestigious accolade represents the zenith of their craftsmanship, a symbol of excellence in the world of wood coatings and finishes.” expressed Mr. Wasantha Gunaratne, Director Sales and Technical, JAT Holdings

The JAT Pintharoo Shilpee Abhiman programme aligns with several United Nations’ Sustainable Development Goals (SDGs) as well, including SDG 1 (No Poverty), SDG 4 (Quality Education), SDG 8 (Decent Work and Economic Growth), and SDG 9 (Industry, Innovation, and Infrastructure). Furthermore, by engineering water-based solutions and implementing key technical improvements, brought about by the Group’s R&D Centre, into its products, JAT Holdings PLC is actively contributing towards industry- and national-level sustainability efforts, whilst positively impacting livelihood development and education within its communities.

JAT Holdings PLC is the market leader in wood coatings and brushes in Sri Lanka, with a dominant presence in the paints, and luxury home and office furnishing sectors. With two state-of-the-art manufacturing facilities, located in Sri Lanka and Bangladesh, supported by an advanced Research and Development Centre in Sri Lanka, JAT Holdings continues to fuel innovation, solidifying its position as a key player and emerging conglomerate in the region. Recognized for its financial stability, even in times of adversity, JAT Holdings PLC has been awarded a National Long-Term Rating of ‘AA(lka)’ by Fitch Ratings, whilst also being prestigiously ranked as the No. 1 Most Awarded Entity in the Diversified Sector by LMD. JAT Holdings’ commitment to its employees and workplace excellence has also been recognized through its certification as a Great Place to Work, making it an employer of choice.



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CEB urged to revise Draft Long Term Generation Expansion Plan, in view of renewable energy needs

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Damitha Kumarasinghe

By Ifham Nizam

The Public Utilities Commission of Sri Lanka (PUCSL) has instructed the Ceylon Electricity Board (CEB) to revise its Draft Long-Term Generation Expansion Plan (LTGEP) 2025-2044, incorporating more robust projections for renewable energy and battery storage, while also reassessing LNG infrastructure and procurement strategies.

The Island Financial Review reliably learns PUCSL Director General Damitha Kumarasinghe emphasized the need for “more robust and realistic cost assumptions for Renewable Technologies and Battery Energy Storage Systems (BESS).”

The Commission stressed that BESS should be valued not just as a renewable integration tool but also for its potential to mitigate power shortages.

The directive also calls for revisions in LNG infrastructure planning, including “a comprehensive analysis covering LNG fuel cost calculation, infrastructure development, procurement contracting options, and risks associated with supply and procurement.” PUCSL has specifically highlighted the importance of evaluating the financial and economic feasibility of a natural gas pipeline from Kerawalapitiya to Kelanitissa.

Kanchana Siriwardena, Deputy Director General – Industry Services, reinforced the Commission’s stance on renewable energy, stating that “further reductions in renewable energy curtailment should be explored by incorporating more BESS.”

The PUCSL’s instructions also mandate incorporating clauses from the Memorandum of Understanding (MoU) with Petronet India, which includes a temporary LNG supply for the Sobadhanavi Plant. The revised LTGEP must also factor in infrastructure costs related to the Floating Storage Regasification Unit (FSRU) and pipeline networks as part of the overall LNG cost calculation.

The CEB is expected to resubmit the revised plan for PUCSL’s approval, ensuring alignment with Sri Lanka’s long-term energy security and sustainability goals.

The PUCSL directive also calls for a comprehensive evaluation of various LNG procurement options and associated risks. These include:

LNG infrastructure development and expansion

Contracting options for LNG procurement

Risks related to LNG supply and procurement stability

Robustness of natural gas demand calculations

Economic feasibility of the proposed natural gas pipeline from Kerawalapitiya to Kelanitissa, given the low plant factors of power stations at Kelanitissa.

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Nations Trust Bank ends 2024 with strong performance, achieving 24% ROE

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Nations Trust Bank PLC reported strong financial results for the twelve months ending 31st December 2024, achieving a Profit After Tax (PAT) of LKR 17 Bn, up 46% YoY.

Nations Trust Bank, Director & Chief Executive Officer, Hemantha Gunetilleke, stated, “The Bank’s performance for the twelve months ending 31st December 2024 showcases our continued growth and expansion across diverse customer segments. Our solid capital position, strong liquidity buffers, effective risk management frameworks, and steadfast commitment to service excellence and digital empowerment remain the key drivers of our success.”

Improvements in the macro-economic environment and successful management of the Bank’s credit portfolio resulted in total impairment charges decreasing by 69% and the Net Stage 3 ratio reducing to 1.6%.

The Bank’s financial performance is supported by its strong capital buffers, with Tier I Capital at 21.47% and a Total Capital Adequacy Ratio of 22.66%, well above the regulatory requirements of 8.5% and 12.5%, respectively.

A strong liquidity buffer was maintained with a Liquidity Coverage Ratio of 320.56% against the regulatory requirement of 100%.

The Bank reported a Return on Equity (ROE) of 24.22%, while its Earnings Per Share for the twelve months ending 31st December 2024 increased to LKR 50.82, against LKR 34.70 recorded during the same period last year.

Nations Trust Bank PLC serves a diverse range of customers across Consumer, Commercial and Corporate segments through multi-channel customer touch points spanning both physical and digital. The Bank is focused on digital empowerment through cutting-edge digital banking technologies, and pioneered FriMi, Sri Lanka’s leading digital banking experience. Nations Trust Bank PLC is an issuer and sole acquirer of American Express Cards in Sri Lanka with market leadership in the premium segments.

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Modern Challenges and Opportunities for the Apparel Industry: JAAF drives industry dialogue

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The Joint Apparel Association Forum (JAAF), in collaboration with Monash Business School and the Postgraduate Institute of Management (PIM) successfully hosted the International Conference on the Apparel Industry 2025 recently in Colombo. This was the second time the event was held, following its inaugural edition in 2018, as part of JAAF’s commitment to fostering dialogue and collaboration within the global apparel sector.

Themed “Modern Challenges and Opportunities for the Apparel Industry”, the three-day event brought together industry leaders, academics, and sustainability experts to discuss pressing issues such as ESG (Environmental, Social, and Governance) compliance, circular economy strategies, technological advancements, and workforce transformation.

A key highlight of the event was the panel discussion on “Current Actions and Their Impact on ESG-Related Outcomes in the Apparel Industry,” featuring:

Felix A. Fernando – CEO, Omega Line Ltd.

Nemanthie Kooragamage – Director Group Sustainable Business, MAS Holdings

Gayan Ranasinghe – Control Union,

Chamindry Saparamadu – Director General/CEO, Sustainable Development Council

Pyumi Sumanasekara – Principal Partner, KPMG Sri Lanka

Discussions emphasized how Sri Lanka’s apparel industry is adapting to global ESG standards, incorporating sustainable production methods, and aligning with evolving regulatory frameworks.

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