Business

Heritance Rise trainees sweep top honours at SLITHM graduation 2024/25

Published

11 months ago

2025/04/19

Aitken Spence Hotels proudly marked a defining moment in its commitment to shaping the future of hospitality leadership, as trainees from its flagship Heritance Rise Management Trainee Programme emerged as some of the most decorated graduates at the Sri Lanka Institute of Tourism and Hotel Management (SLITHM) Graduation Ceremony 2024/25.

Together, the cohort clinched 15 special awards, with standout performer Tharuka Chaturangi being honoured with the Most Outstanding Graduate Award for the Three-Year Management Diploma—one of the two highest recognitions conferred at the national graduation ceremony.

Launched to respond to the critical need for talent development in the hospitality industry, Heritance Rise is Aitken Spence Hotels’ purpose-driven initiative to nurture the next generation of Sri Lankan hoteliers through a structured, immersive, and performance-led learning journey. The programme is uniquely crafted in five phases: an intensive 8-month training in core area of specialization , 4 months of cross exposure across other key hotel departments, including corporate office immersion to understand the business of hospitality, 3 months overseas exposure in India, Maldives or Oman and a final 3-month management and leadership specialisation phase, allowing participants to hone necessary skills aligned with their passion and career goals.

“Heritance Rise is more than a training programme—it’s a long-term investment in shaping compassionate, forward-thinking leaders who will redefine hospitality in Sri Lanka and the region,” said Aitken Spence Hotels Vice President – Learning & Development / Rooms Division Patrick Pereira. “Our trainees’ outstanding performance at SLITHM is a powerful endorsement of our approach and their extraordinary potential.”

Leading the accolades was Tharuka Chaturangi, whose achievements at the ceremony included not only the coveted Most Outstanding Graduate Trophy, but also top honours in Professional Cookery, Professional Cookery Practical, Revenue Management, and Hotel Information Technology—demonstrating both depth and versatility in her craft.

Equally impressive was Charles de Croos, who received multiple distinctions in accommodation operations, including Most Outstanding Student in Housekeeping, Advanced Accommodation Operations, and Management Studies, as well as excellence in Research Methodology.

From culinary arts to front office and F&B operations, Heritance Rise trainees continued to shine. Nethmi Hettihewage was awarded for her stellar performance in Food & Beverage Operations, while K. Gurudhesh received dual recognitions in Pastry Preparation and Professional Cookery, including the esteemed Nestlé Professional Culinary Pinnacle Award. Mandithri Fernando earned the top award in Front Office Operations, and Mr. Dilan Uluvitiya was recognized for excellence in Accommodation Practices.

“These achievements reflect the calibre of individuals we are proud to nurture through Heritance Rise,” Stasshani Jayawardena, Chairperson of Aitken Spence Hotel Holdings PLC said. “The breadth of disciplines in which our trainees were recognised—from cookery to revenue management, IT, and research—demonstrates the holistic preparation they receive and their readiness to take on leadership roles in a dynamic global industry.”

With a clear path to Assistant Manager roles upon graduation and the opportunity to rise to General Manager level within a set period, Heritance Rise serves as both a fast-track and a values-driven platform for emerging hospitality professionals. The programme is deeply embedded in Aitken Spence Hotels’ purpose to uplift Sri Lankan talent and enhance the global competitiveness of its workforce, especially at a time when the industry demands resilience, creativity, and future-ready skillsets.

As the first Sri Lankan hospitality group to implement global service standards such as LQA (Luxury Quality Assurance) across its resorts, and with a growing focus on leadership development, Aitken Spence Hotels continues to pave the way in elevating hospitality excellence through homegrown talent.

“We salute every award recipient and graduate. Their success is our shared success—as a company, an industry, and a country. With passion, discipline, and a commitment to learning, they are not just rising—they are leading,” added Ms. Jayawardena.

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Business

Embedding human rights, equity and integrity into business leadership

Published

10 hours ago

2026/03/5

Sahan Weerasooriya

Rathika de Silva, Executive Director

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

Published

10 hours ago

2026/03/5

Sahan Weerasooriya

Shanka Abeywardene

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

Published

11 hours ago

2026/03/5

Sahan Weerasooriya

Sanjay Kulatunga

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.