Business
CSE makes move to invigorate listing process
The Colombo Stock Exchange (CSE) has launched an action plan to address key areas relating to the process of listing a company on the CSE with the objective of enhancing its efficiency thereby better serving the funding requirements of companies belonging to both state and private sectors. The action plan will further simplify the process, eliminate any redundant approval steps, reduce documentation and improve the time to market for companies’ new and follow-on offerings of equity and debt.
Measures have already been taken to change listing criteria by offering a wider choice of listing options for companies, further amend the listing rules to enable a simplified process in addition to carrying out changes to internal infrastructure of the CSE to ensure a smoother process workflow.
Commenting on the new plan to streamline the listing process, CSE Chairman Dumith Fernando said “Increasing the number of companies listed on the exchange is one of the CSE’s key strategic objectives. We have to make exponential progress on this front. As businesses approach the post-COVID period, it is likely that funding will be a top priority and we have versatile options available to address the different funding requirements of corporates. We have put in place systems and processes to cater to an ever-evolving business landscape in Sri Lanka and we stand ready to meet the requirements of our corporate stakeholders. We strongly believe that the steps we are taking to simplify the listing process would attract more companies to raise capital through the CSE helping them unlock value and create wealth for their shareholder.”The CSE has already commenced stakeholder engagement to obtain feedback to carry out further improvements to the CSE’s overall Listing process.
Improvements expected from this new CSE plan include the reduction of documentation that have to be submitted with the Listing Application and the removal of certain disclosures in the Prospectus/Introductory Document. In this connection, the CSE would commence discussions with the Securities and Exchange Commission of Sri Lanka (SEC) to streamline the current dual approval process.
Another significant change by the CSE is the introduction of a ‘Single Window’ customer relationship unit that will be set up within the CSE to identify potential listing candidate companies, work with such companies and assist them through the listing process. This will make it easier for companies and their advisors to understand and address any problems faced in the process through a single point of contact.
With the objective of further enhancing the transparency of the listing process, an online tracking tool for all listing applications that have been submitted to the CSE will also be introduced, which would provide Issuers with more transparency in tracking the status of their respective applications and understanding which parties hold primary responsibility at each step of the process.
The CSE now offers equity or debt based fundraising options for companies of all sizes, from large conglomerates to SMEs, through versatile listing platforms such as the Main, Diri Savi and Empower Boards.
Business
From Mt. Fuji to Sri Pada: Lessons from a father-son climb
by SK Samaranayake
For Daham Gunasena, reaching the summit of Mt. Fuji with his 12-year-old son was not the end of the journey but the beginning of a different kind of lesson.
Gunasena, Director – Commercial at SPAR Sri Lanka and a senior business leader, academic and Chartered Accountant, spent nearly 12 hours on August 19 climbing Japan’s highest mountain with his son, Methum. After eight hours of climbing, the pair reached the 3,776-metre summit before beginning a demanding four-hour descent to Fujinomiya 5th Station.
“The summit was only halfway,” Gunasena reflected, describing the experience as a lesson in preparation, perseverance and responsibility.
Their journey began two days earlier with a trial excursion to the 6th Station and the volcanic landscape around Mt. Hoei. The experience allowed Gunasena to assess the altitude, terrain, weather and equipment before deciding whether his son was ready for the summit attempt.
The climb itself reinforced the value of taking one step at a time. Rather than focusing on the distant summit, father and son concentrated on the next marker, the next few steps and short periods of rest.
Reaching the summit brought another lesson. After taking photographs and celebrating, they still had four hours of descent ahead of them over loose volcanic terrain.
“Reaching the top was an achievement. Returning safely was success,” Gunasena said.
The experience also prompted him to reflect on how Japan manages Mt. Fuji, including visitor education, digital information, sanitation, transport, safety and environmental protection.
Having climbed Sri Pada 12 times last year and five times so far this year, Gunasena sees opportunities to apply some of these principles in Sri Lanka without compromising the mountain’s unique pilgrimage traditions.
He suggested a comprehensive digital platform for Sri Pada providing information on weather, congestion, transport, sanitation, first aid and emergencies, while educating foreign visitors about its religious significance.
For Gunasena, however, the most enduring lesson was personal: a mountain can teach what lectures cannot—through preparation, perseverance, respect for nature and the shared experience of taking each step together.
Business
FLIR, Marlbo promote smarter industrial maintenance
Sri Lankan industries are being encouraged to adopt advanced condition monitoring technologies to detect equipment problems before they develop into costly failures, as global technology company FLIR and its local partner Marlbo Trading Company strengthen their collaboration.
The companies brought together industry professionals at a technical seminar held on August 20 at Taj Samudra, Colombo, focusing on the use of thermography and acoustic imaging to reduce unplanned downtime, improve energy efficiency and lower maintenance costs.
Organised by Marlbo under the theme “Condition Monitoring Using Thermography and Acoustic Imaging for Measurable ROI,” the seminar highlighted the growing importance of proactive and predictive maintenance in improving equipment reliability and operational efficiency.
FLIR Sales Director – Instrumentation, India, Bhaskar Lala, and APAC Condition Monitoring Specialist David Gambarte shared their expertise on the latest diagnostic technologies and their practical industrial applications.
Thermal imaging can identify abnormal heat patterns linked to electrical and mechanical faults, while acoustic imaging can detect problems that may go unnoticed during routine inspections.
The technology is particularly useful in identifying compressed-air leaks, which can cause significant energy losses and increase operating costs.
Shevon Liyanage, Engineer – Measuring Instruments at Marlbo, also shared insights into applying condition monitoring technologies in the Sri Lankan industrial environment.
Business
Lumbini Tea Valley wins intl award for Singharaja Wirytips
Lumbini Tea Valley Ceylon won an award for its Singharaja Wirytips at The Leafies: International Tea Awards held in London in 2024, marking another international recognition for the Sri Lankan tea producer.
The award comes as the company marks two decades of direct exports, with its premium and organic Ceylon teas now reaching 35 countries across six continents.
Established in 1984, Lumbini Tea Valley began its direct export drive after Chaminda Jayawardana joined the family business in 2000 alongside his father, Dayapala Jayawardana. The initiative materialised in 2006 with the company’s first direct shipment—a 15-kilogram consignment of Flowery Broken Orange Pekoe (FBOP) tea to the United States.
Since then, the company has expanded its direct-export operations, which now account for around 20% of its total manufacturing output. Following its transition to organic production, approximately half of its organic tea output is exported directly by the company.
Its key export markets include Japan, the United States, France, the Netherlands, Switzerland and Australia, with direct shipments now reaching 35 countries.
The company said its direct-export model would continue to expand amid growing international demand for traceable, single-origin Ceylon tea, with premium and organic grades at the centre of its export strategy.
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