Business
HUMAN – ELEPHANT PEACE:
‘Ali Pancha’ a Landmark Project
A Memorandum of Understanding was signed by the Chief Executive Officer of the Hambantota International Port Group (HIPG), Mr Johnson Liu, and the President of the Wildlife & Nature Protection Society (WNPS), Mr Jehan CanagaRetna, mid-October to launch the ‘Ali Pancha’ Project – a way to help the transition from Human – Elephant Conflict (HEC) to Human – Elephant Peace. The broad aims of the Project are as follows:
The annual sponsoring of 25 orphaned elephants at the Elephant Transit Home (ETH) at Uda Walawe to provide them with their essential nutrition for healthy development.The sponsoring of a research project to understand the varieties of antibiotics that work safely, and effectively, in the treatment of orphaned elephants.
The provision of six (6) ‘Smart Collars’ for elephants selected for release back into the wild. Their movements will be monitored via VHF frequencies and GPS Systems to understand their range of roaming and behaviour, and to scientifically evaluate and understand how they integrate into the wild.
Conduct Education & Awareness Programmes for a minimum of 200 farmers in the Hambantota District, in partnership with Farmer Societies and Government Institutions, and
Install five (5) of the WNPS’s Light Repel Systems (LRSs) in selected locations in the Hambantota District to protect these farmers’ homes and cultivations from incursions by elephants.The WNPS has the responsibility of coordinating these objectives to ensure that they are achieved, and within the time frames set out in the Agreement.
ANOTHER VITAL PARTNER
For the success of this project, the cooperation of the Department of Wildlife Conservation (DWC) is essential, especially for the Veterinary Surgeons and other officers of the ETH. It is they who must provide the technical and scientific inputs, and research, necessary for the initiatives with the orphan elephants. Dr Vijitha Perera, the Senior Veterinary Surgeon at the ETH will lead this project on behalf of the DWC, ably assisted by Dr Malaka Abeywardana who was present at the Project Launch.
In the course of its 128 year history as the 3rd oldest conservation organisation in the World, the WNPS counts its active involvement in the setting up of the DWC with great pride. During this long history, the WNPS has worked with the DWC on several projects, and greatly looks forward to this renewed partnership.
ENLIGHTENED THINKING
The CEO of HIPG, Mr Liu, in his address to the gathering had this to say:
“As a leading development project situated in this area, which is also home to a variety of wildlife, especially an Elephant population, we have a major challenge of facilitating development with minimal impact to nature and other life forms. This reflects our commitment to supporting Sustainable Development Goals of protecting life on land and life underwater while achieving our business objectives. This is integrated in our ESG framework under the “Care for the Planet” focus area, and we now give our fullest support to minimize Human – Elephant Conflict which is an essential need of this area.
Under the “Human Elephant Peace Project”…our newest addition is the “Save Ali Pancha (elephant)” Project with the WNPS in collaboration with the ETH with a grant of USD 102,487.00…”
As a part of the sponsorship is for the collaring of selected animals from the identified herds to track their movements and formulate a strategy as to how this could be done with the knowledge of science. At present, there are elephants who visit the Port, mainly at night, and though they have not caused any damage to its buildings or harmed any of the employees, HIPG is understandably anxious that no damage is done to its valuable cargo that is stored in its yards.
As Mr CanagaRetna explained in his address, Sri Lanka’s wild populations of elephants share approximately 44% of its landscape with people. While development is essential for the country, it must be planned development and HIPG is demonstrating a good example of this, by placing care for the elephants, and other wildlife, alongside those of the necessary future Port development. CanagaRetna continued by saying that the future of our wildlife and conservation depends on humans. With all the destruction along with global warming and climate change, we must do our utmost to protect what we have. HIPG along with the partnership with WNPS is trying to plug a deep ravine in our country when it comes to our elephants. Sri Lanka has the highest Human Elephant Conflict in the world. Therefore, it is heartening to see Corporates such as HIPG stepping up to do their part for our country’s wildlife.
FROM CONFLICT TO PEACE
The elephant is an important part of the culture and religions of Sri Lanka. It is also important for conservation, for as a Keystone Species, the health of all the forests and its other denizens depend on them. Healthy forests lend to clean air and water, essential for human existence. We are all connected.
In addition, the wild elephant is an important source of revenue for this country, attracting foreign visitors who wish to see these magnificent animals in their wild surroundings. This leads to the financial enrichment of those communities that have elephants, and other wildlife, as their neighbours. As such, it is hoped that this landmark project will prove an inspiration to other ‘developers’ too, and enable the transition from ‘Conflict’ to ‘Peace’, and the saving of valuable lives.
Business
Wealth Trust Securities to raise Rs. 500.8 million via IPO
The recent announcement of Wealth Trust Securities Ltd.’s Rs. 500.8 million Initial Public Offering -IPO- comes at a moment when Sri Lanka’s interest-rate environment is gradually easing, allowing well-capitalised primary dealers to expand their trading portfolios and secure long-term positions in government securities.
Company chairman Senaka Weerasooria told journalists in Colombo that the IPO is not merely a capital-raising exercise, but a reinforcement of the disciplined structure that has defined the company since its inception.
He noted that WTS enters the public market with what is already one of the most robust capital bases in the industry, and with “absolute confidence that investors are joining a journey that has consistently returned value.”
Weerasooria said the capital infusion will further solidify WTS’s ability to absorb volatility, particularly amid cyclical movements in Treasury yields.
Despite maintaining a conservative trading outlook, the company has managed to average a 31% ROE over the past twelve years — a figure management repeatedly highlighted as evidence of resilience across both tightening and loosening rate cycles.
Managing Director and CEO Romesh Gomez said that in recent months the direction of policy rates and market liquidity has begun shifting favourably, creating clear value-accretion opportunities for disciplined portfolio expansion. With additional capital, he noted, WTS has greater room to capture advantageous auction positions, broaden secondary market activity and align its investment scale to emerging market windows.
Gomez acknowledged that FY25 reflected compressed performance due to systemic realignment, with revenue at Rs. 4.6 billion and PAT at Rs. 1.2 billion. However, he pointed out that profit sustainability, even through a difficult cycle, speaks to strong operational controls. The A- rating with a Positive outlook continues to stand, reinforcing the company’s position as a stable counterparty in a specialised sector.
Asia Securities Advisors, managing the IPO, pointed out that the offer price of Rs. 7 presents meaningful upside when benchmarked against underlying valuation metrics. The move into the listed environment, they noted, enhances governance visibility — a point increasingly valued among institutional investors participating in the Government securities market.
By Ifham Nizam
Business
BoardPAC achieves Carbon Neutral Certification for the fourth consecutive year
BoardPAC, the global leader in digital board meeting automation, has secured the Carbon Neutral Certification for 2024, marking the fourth consecutive year the company has achieved this milestone. The certification, awarded by the Sri Lanka Climate Fund (SLCF) under the Ministry of Environment in October 2025, underscores BoardPAC’s commitment to environmental sustainability and responsible corporate governance.
BoardPAC’s operations, spanning over 40 countries, were assessed against the ISO 14064 – 1:2018 standard, and the company’s organization-level Greenhouse Gas (GHG) emissions were successfully offset, reflecting its ongoing commitment to reducing its environmental impact.
Business
Uber marks 10 years in Sri Lanka: Moving People, Powering Livelihoods, Impacting Communities
Uber today marked ten years of operations in Sri Lanka, a decade in which the platform has reshaped how people commute, and how thousands of Sri Lankans earn a livelihood. Over the past decade, ride-hailing has become one of the most transformative shifts in Sri Lanka’s urban mobility landscape, providing safe, reliable and affordable transport at scale.
Chathuranga Abeysinghe, Deputy Minister for Entrepreneurship, Ministry of Industries and Entrepreneurship Development, Government of Sri Lanka, graced the milestone event as the Chief Guest. U.S. Ambassador Julie Chung attended as the Guest of Honor, joined by Akanksha Singh, Head – South Asia Markets, Uber, and Kaushalya Gunaratne, Country Manager – Mobility, Uber Sri Lanka.
As per the 2024 Sri Lanka Economic Impact Report, compiled by global policy research firm – Public First, Uber and Uber Eats together generated over LKR 160 billion in economic activity in Sri Lanka within a single year. Since its entry in Sri Lanka in 2015, Uber rides have covered over 1.15 billion kilometers – equivalent to nearly 3000 trips from Earth to the moon! Over 320,000 Sri Lankans have earned through the platform as drivers.
Uber has also supported the tourism ecosystem, enabling more than 700,000 airport trips, connecting visitors seamlessly to their destinations. Over the last year, we’ve further intensified our service in the Western and Central provinces and expanded our offerings in the Southern and Northern provinces – bringing its services closer to more communities across the country. Uber has emerged as one of the most preferred ride-hailing platforms across the island, offering affordable, reliable, and safer rides at different price points.
Deputy Minister for Entrepreneurship, Ministry of Industries and Entrepreneurship Development, Government of Sri Lanka, Chathuranga Abeysinghe, said, “Over the past decade, Uber has become part of the fabric of daily life in Sri Lanka – not only by helping people get where they need to go, but by enabling thousands to earn an income with dignity and flexibility.
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