Business
Dilhan Fernando Appointed Adjunct Professor of Sustainability at Edith Cowan University’s School of Business and Law, Australia
The CEO and Chairperson of global tea brand Dilmah, Mr Dilhan C Fernando, has been appointed as an Adjunct Professor of Practice in Sustainability at Edith Cowan University’s (ECU’s) School of Business and Law (SBL).As Chairperson of Dilmah Ceylon Tea Company plc., Dilmah Ceylon Cinnamon Company and Kahawatte Plantations plc., Mr Fernando strives to drive innovation, sustainability and fresh consumer perspectives of the uniqueness of Sri Lankan produce, an ECU news release said.
“As managing Trustee of the MJF Foundation and Director of Dilmah Conservation, his role extends to using a minimum of 15% of the pre-tax profits from Dilmah & MJF Group companies to benefit people and nature.
“Mr Fernando played a key role in establishing Dilmah Conservation in 2007 and building on its successes with the creation of Biodiversity Sri Lanka. This organisation, recognised as Sri Lanka’s leading body for biodiversity and conservation, includes over 80 major corporate members and government representatives.” it added.
ECU’s Executive Dean for the School of Business and Law Professor Maryam Omari said Mr Fernando’s appointment was an exciting opportunity for SBL students and the wider Perth community.
“We are deeply honoured to welcome Dilhan C. Fernando to our School. His profound commitment to ethical business practices and sustainability is truly inspiring. Having Dilhan share his expertise and philosophy with our students will not only enrich their educational experience but also prepare them to become leaders who prioritise integrity and social responsibility in their careers.”
“We are excited to work with Mr Fernando to inspire a brighter future where businesses are proactive in their societal impact and social responsibility,” Professor Omari said.
Mr Fernando’s appointment would see students benefit from public lectures by an industry leader with a proven track record of running a successful business that prioritises ethics, sustainability, and kindness over pure profit.
This hands-on experience will empower students to incorporate these values into their future careers, fostering a new generation of mindful and socially responsible business leaders, Professor Omari said.
In addition to guest lectures, Mr Fernando will assist with a case study led by ECU academics, examining how Dilmah integrates kindness and sustainability into its operations. This case study will provide valuable insights into the importance of prioritising societal impact alongside business success.
“My family and Australia have an enduring connection as Dilmah was birthed in Australia when – in 1985 – Australians accepted my father’s invitation to, ‘do try it!’. My honorary role at the ECU School of Business and Law allows me to share our very practical perspective and actions connected with the obligation of kindness in business,” Mr Fernando said.
“Amidst the polycrises we face today, there is no more urgent priority for businesses than to realign to deliver social and natural value, for their own survival as well as for the benefit of future generations.”
Business
CEB urged to revise Draft Long Term Generation Expansion Plan, in view of renewable energy needs
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.
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.
Business
Modern Challenges and Opportunities for the Apparel Industry: JAAF drives industry dialogue
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.
It is our collective responsibility to build a nation grounded in unity and strength – President
Fairly heavy showers above 75mm can be expected at some places in Eastern and Uva provinces and in Matale, Nuwara-Eliya, Polonnaruwa, Galle, Matara, Kalutara and Rathnapura districts.
USD 900,000 paid monthly for three unused SriLankan aircraft– Dy. Finance Minister
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