Business

Hayleys launches ‘Lifecode’: a future-driven roadmap for a better tomorrow

Published

4 years ago

2022/01/11

In a defining moment for Sri Lanka’s iconic diversified conglomerate, Hayleys commenced 2022 with the unveiling of ‘Lifecode’, an ambitious new framework that integrates Environment, Social and Governance related targets and goals into business strategy across each of its 16 business sectors.

Distilled into a single document, the Hayleys Lifecode sets out a holistic framework for driving a Group-wide call to action, anchored to United Nations Sustainable Development Goals (UNSDGs) – marking an unprecedented level of linkage between ESG targets and value creation systems. The Hayleys Lifecode includes detailed disclosures on the conglomerate’s approach to managing ESG topics, its long-term roadmap, ESG governance and risk management.

“We recognise the need to drive powerful and uncompromised ESG standards in our everyday decision making to strengthen our business strategies and risk resilience for long-term value creation. The Hayleys Lifecode is a systematic, policy-driven blueprint to address the ESG goals critical to our business and society – and encapsulates the condensed wisdom we have used to steer the Group throughout the years.

“This launch comes at a time when the strength, value, and the innovative spirit of our entire organisation has been tested and proved. It is now up to us to take the next step in defining our roadmap towards resolving sustainability issues, creating greater value and shaping a better future,” Hayleys PLC Chairman and Chief Executive Mohan Pandithage said.

“The Hayleys Lifecode was born with the intent of embedding and harmonising ESG considerations into strategic decision-making across the Group. Our Lifecode champions have been empowered to drive targets and goals defined in this document. They will support us in monitoring, measuring and managing emerging ESG risks and topics as we learn, reorient and evolve our efforts to keep our progress and outcomes relevant,” Hayleys Group Sustainability Head and Group Chief Financial Officer Choliya De Silva said.

Environmental benchmarks span goals on climate action, sustainable production and consumption, and biodiversity, including an emphasis on sustainable innovations, the potential for high circularity, and less waste. Social value creation targets are focused on community and education, the livelihoods of its smallholders and small-scale suppliers, economic growth, and decent work. Under Governance, the diversified conglomerate continues its focus on sustaining a culture of the highest integrity, transparency and ethical governance standards.

Notably, Hayleys has been a signatory to the UN Global Compact from 2007, adopting Global Reporting Initiative Guidelines in 2012 and adopting the first Code of Best Practice on Corporate Governance from 2009, in addition to being the only corporate recognised as the nation’s Best Corporate Citizen on five occasions.

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Business

Sri Lanka secures IMF staff-level deal for USD 700 million tranche

Published

12 hours ago

2026/04/10

Thilina Walpola

Sri Lanka has reached a staff-level agreement with the International Monetary Fund to secure the next tranche of funding under its ongoing bailout programme, marking a key step in the country’s fragile economic recovery.

The agreement, announced this week, will enable Sri Lanka to access approximately USD 700 million, subject to approval by the IMF Executive Board. The funds form part of the USD 2.9 billion Extended Fund Facility (EFF) programme agreed following the 2022 economic crisis.

The latest development covers the combined fifth and sixth reviews of Sri Lanka’s reform programme, indicating that the country has made sufficient progress to move forward, while highlighting the need to sustain reform efforts.

Sri Lanka’s economy has shown signs of stabilisation in recent months, supported by improved revenue collection, easing inflation, and a gradual buildup of foreign reserves. However, the recovery remains vulnerable to both domestic and external pressures.

By Ifham Nizam

Business

Israeli attack on Lebanon triggers local stock market volatility

Published

12 hours ago

2026/04/10

Thilina Walpola

Initially CSE trading was somewhat volatile despite the ceasefire in West Asia but it experienced further volatility after Israel attacked Lebanon yesterday.

However, the IMF delegation which is now in Sri Lanka to release two tranches of its relief package created some positive sentiments for the market, analysts said.

The All Share Price Index went down by 73.06 points, while the S and P SL20 rose by 10.57 points.

Turnover stood at Rs 2.96 billion with six crossings. Those crossings were: JKH 5.5 million shares crossed to the tune of Rs 807.6 million and its shares traded at Rs 19.70, CIC Holdings two million shares crossed for Rs 54 million; its shares traded at Rs 32, Access Engineering 600,000 shares crossed for Rs 44.4 million; its shares traded at Rs 74, Central Finance 116,000 shares crossed to the tune of Rs 27.5 million ; its shares sold at Rs 237, LMF 250,000 shares crossed for Rs 22.8 million; its shares fetched Rs 91.10 and Kelani Cables 200,000 shares crossed for Rs 21 million and its shares traded at Rs 105.

In the retail market seven companies that mainly contributed to the turnover were; Dialog Rs237 million (7.5 million shares traded), LMF Rs 203 million (22 million shares traded), Colombo Dockyard Rs 199.7 million (1.1 million shares traded), HBA Foods Rs 163 million (18.5 million shares traded), JKH Rs 156 million (7.8 million shares traded), JKH Rs 156 million (7.8 million shares traded), Softlogic Holdings Rs 117 million (9.6 million shares traded) and Acme Printers Rs 107 million (15.6 million shares traded). During the day 133.3 million share volumes changed hands in 23666 transactions.

It is said that manufacturing sector counters, like JKH, performed well, while food sector counters, especially LMF and HBA Foods, performed well. Other sectors too performed somewhat well during the day.

Yesterday the rupee was quoted a Rs 315.42/48 to the US dollar in the spot market from 315.30/40 the previous day, dealers said, while bond yields were quoted higher.

By Hiran H. Senewiratne

Business

HNB Assurance marks 25 years with strategic transformation to ‘HNB Life’

Published

12 hours ago

2026/04/10

Thilina Walpola

Highlights from the new brand reveal as HNB Assurance transforms into HNB Life

Marking 25 years of trust, growth, and service excellence, HNB Assurance PLC has unveiled its new corporate identity, transitioning to HNB Life PLC a strategic evolution that reflects the company’s forward-looking vision and commitment to empowering lives with protection and the freedom to thrive, no matter where life takes them.

This milestone signifies more than a change in name or visual identity. It represents a deliberate transformation shaped by strong performance over the past few years, during which the company has achieved remarkable growth, strengthened its market position and enhanced its customer-centric capabilities.

The newly introduced logo, inspired by the form of a wing, symbolises HNB Life’s role as a proactive enabler. It reflects the organisation’s commitment to supporting individuals in navigating life’s journey with confidence, empowering them to pursue their aspirations and live life on their own terms.

The official unveiling took place at a launch event attended by key stakeholders, strategic business partners, well-wishers and employees.

Addressing the gathering, Chairman, Stuart Chapman highlighted the significance of this transformation, stating, “As we mark 25 years of progress, the transition to HNB Life reflects our strategic intent to evolve with the changing needs of our customers and the broader market. This new identity embodies our purpose, to enable and empower individuals to achieve what they truly aspire to in life, with confidence and security. As a company we are extremely excited on what the future holds for as, as we build on an incredible foundation laid over the past two and a half decades.”

The new Vision of the Company is “To be the leader in empowering lives with protection and freedom to thrive, no matter where life takes them”.