Business
Convocation ceremony for 2nd batch of JAT Pintharoo Shilpee Abhiman Graduates concludes successfully
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.
Business
Embedding human rights, equity and integrity into business leadership
At its 2026 Social Sustainability Programme Kick-Off, the UN Global Compact Network Sri Lanka convened business leaders to advance the translation of global ambition into practical corporate action on inclusion, integrity and human rights.
On 24 February 2026, the UN Global Compact Network Sri Lanka (Network Sri Lanka) convened business leaders at Barefoot Garden Café for its 2026 Social Sustainability Programme Kick-Off, delivered in collaboration with Good Life X.
The gathering did more than introduce a calendar of events. It positioned Sri Lanka’s corporate community within the broader direction of the UN Global Compact’s 2026–2030 global strategy — a strategy anchored in three imperatives: equipping companies to act, catalyzing collective action, and advancing the business case for responsible leadership.
At its core, the 2026 Social Sustainability agenda is designed to move companies from commitment to capability.
Within the Diversity & Inclusion Working Group, this means building practical pathways toward equal pay for equal work and strengthening male allyship as a governance issue rather than a cultural afterthought. It means examining sexual and reproductive health, disability inclusion, and mental health not as employee benefits, but as structural determinants of productivity and retention. It means sharpening strategic communications so inclusion is embedded in brand integrity. It also means applying science-based behavioural change approaches to shift organizational culture in measurable ways.
Across the Business & Human Rights Working Group, equipping companies takes the form of deepened engagement on decent work and living wage implementation, strengthening human rights due diligence processes, and addressing emerging risk areas such as AI and digital rights. It extends to reinforcing business integrity and anti-corruption frameworks, understanding the social dimensions of a just transition, and recognizing the link between child rights, nutrition, and workforce productivity.
Business
Union Bank to raise LKR 3 Bn via Basel III Compliant Debenture Issue
Union Bank of Colombo PLC announced its proposed Debenture Issue 2026, a strategic move aimed at raising up to LKR 3 billion. This issue is designed to bolster the Bank’s Tier II capital base and provide a robust financial foundation for its upcoming growth initiatives.
The offering consists of Basel III compliant, listed, rated, unsecured, subordinated, redeemable high-yield debentures with Non-Viability Conversion. The instrument has been assigned a rating of BB (lka) by Fitch Ratings (Lanka) Ltd, reflecting the bank’s creditworthiness and the structured nature of the subordinated debt.
Investors can choose from three distinct interest structures starting from a high-yield 13% fixed rate per annum (Type A). This option is paid annually, while Type B offers a 12.5% fixed rate paid semi-annually (12.89% AER). For those seeking market-linked returns, Type C provides a floating rate of the 182-days Treasury Bill rate plus a 400-basis point margin, also paid semi-annually.
The debentures are priced at LKR 100 per unit with a 5-year tenure (2026–2031). The initial issue size is set at 20,000,000 debentures with an option to raise 10,000,000 at the discretion of the Bank and is scheduled to open on 10 March 2026.
Shanka Abeywardene, Chief Financial Officer of Union Bank stated “This debenture issue marks a significant step in the Bank’s journey towards enhanced financial stability. By strengthening its capital adequacy, Union Bank is well-positioned to navigate evolving market conditions while fuelling its long-term strategic objectives for sustainable growth”
Business
Sanjay Kulatunga appointed to WindForce Board
WindForce PLC announced the appointment of Sanjay Kulatunga as an Independent, Non-Executive Director to its Board with effect from 03rd March 2026, following the resignation of Dilshan Hettiaratchi. The appointment further strengthens the Company’s governance framework, strategic oversight, and long-term decision-making capabilities.
Kulatunga brings an established track record as a founder, entrepreneur, and senior executive across financial services and export-oriented industries. He is the Chief Executive Officer and Co-Founder of LYNEAR Wealth Management, a boutique investment firm established in 2013, which has since grown to become one of Sri Lanka’s largest private wealth management institutions, serving high-net-worth individuals as well as local and international institutional clients.
Prior to founding LYNEAR, Kulatunga played a pivotal role in the establishment of Amba Research, an investment research offshoring firm rooted in Sri Lanka and now operating as part of Acuity Analytics.
Over the years, he has contributed extensively to several key national institutions. His previous appointments include serving on the Financial Sector Stability Consultative Committee of the Central Bank of Sri Lanka, as well as the Board of Investment of Sri Lanka and the Securities and Exchange Commission of Sri Lanka.
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