Business
Hunas Holdings becomes Sri Lanka’s newest listed diversified conglomerate
Sets new benchmark in good corporate governance in CSE
Hunas Holdings PLC, previously known as Hunas Falls Hotels PLC, has officially become Sri Lanka’s newest listed diversified conglomerate.
This follows Serenity Lake Leisure (Pvt) Ltd., a fully-owned subsidiary of the TAD Group of Companies, infusing the then Hunas Falls Hotels with Rs. 4.25 billion in capital in January 2022, by transferring its ownership stakes in 11 companies to the latter.
This marked the first time in the country’s history in which such a transaction had been carried out without any dilution of the company’s minority interest, setting a new benchmark in good corporate governance and corporate responsibility in the Sri Lankan stock market. The move greatly benefited the company’s minority shareholders, who currently account for 6.5% of the company’s ownership, who saw vast appreciation in the value of their shareholdings.
Hunas Holdings PLC now holds 11 assets in renewable energy, real estate, tea (plantations, factories and in tea brokering) and hospitality/leisure sectors. In addition to strengthening the company through diversification, which adds multiple new revenue streams, the capital infusion also augments and expands Hunas Holdings PLC’s asset base. Furthermore, the increase in the consolidated asset base will facilitate the company’s future expansions as well, by making it easier to raise funds through borrowings for potential future developments, investments and acquisitions.
“Hunas Holdings PLC envisions becoming a leader in sustainable and ethical business in Sri Lanka,” Hunas Holdings PLC Director, Pravini Wickramanayke said. “Through the manner in which the capital infusion was carried out, by protecting the interests of the minority shareholders, we have demonstrated our strong commitment to ‘walk the talk’ in terms of upholding the highest standards of corporate governance and ethical business.”
“Despite challenges, the Sri Lankan economy has vast untapped potential and Hunas Holdings PLC will help realise these opportunities,” Wickramanayke added. “For this purpose, we will leverage our strong partnerships with reputed foreign investors, to bring in Foreign Direct Investments (FDIs) into the country, which can add substantial impetus to Sri Lanka’s growth prospects.”
The companies which form the diversified portfolio of Hunas Holdings PLC are; Hunas Properties (Pvt) Ltd. (100%), Boulder Gardens (Pvt) Ltd. (90%), Rainforest Hotels (Pvt) Ltd. (90%), Suriyakanda Plantations (Pvt) Ltd. (100%), Rainforest Tea Factory (Pvt) Ltd. (90%), Amunumulla Suhada Electricity Generation Company (Pvt) Ltd. (100%), Sustainable Energy Holdings (Pvt) Ltd. (100%), Mercantile Produce Brokers (Pvt) Ltd. (20%), Weswin Power Galaha (Pvt) Ltd. (20%), Eratne Power Company (Pvt) Ltd. (30%) and Kuruganga Hydro (Pvt) Ltd. (19%).
Business
SLT-MOBITEL driving Sri Lanka’s economic resilience through digital infrastructure
Corporate accolades underscore the alignment between its operational excellence and national development
In an era where national competitiveness is intrinsically tied to digital connectivity, strengthening the country’s digital backbone has become an urgent priority. Within this context, the evolving role of Sri Lanka’s leading telecommunications provider, SLT-MOBITEL, offers valuable insight into how technological infrastructure can underpin broader economic resilience.
Telecommunications and digital networks are foundational to economic transformation. By expanding high-speed broadband access, upgrading enterprise cloud capabilities, and bridging the urban-rural connectivity divide, SLT-MOBITEL helps reduce business transaction costs, streamline supply chains, and enable micro, small, and medium enterprises to reach global markets.
Recent corporate accolades further underscore this alignment between operational excellence and national development. SLT-MOBITEL’s triple triumph at the National Business Excellence Awards 2026 – winning in the Infrastructure and Utilities sector, Performance Management, and ICT Services categories – highlights its growing impact. Notably, the recognition of eChannelling’s contributions to digital healthcare reflects a broader strategic pivot toward integrated technology solutions.
“Institutional efficiency of this nature is critical for attracting foreign direct investment, as global partners increasingly assess a country’s digital maturity and systemic stability before committing capital,” noted industry observers.
Moreover, the company’s transition from a conventional telecom utility to a comprehensive digital solutions provider aligns seamlessly with Sri Lanka’s national digitalisation agenda. As the country pursues public sector modernisation, enhanced e-governance, and a competitive knowledge economy, the private sector must step up to deliver secure, scalable, and future-ready networks. Investments in data centres, cybersecurity frameworks, and advanced ICT infrastructure act as strategic buffers, ensuring that Sri Lanka’s economic apparatus remains agile and resilient amid future global uncertainties.
However, industry experts caution that while these achievements are commendable, SLT-MOBITEL still has a considerable distance to cover in fully enabling a truly digital economy.
Business
Port City Colombo strengthens Gulf investment ties at Dubai diplomatic engagement
Port City Colombo (PCC) took a prominent role as Platinum Sponsor at the second edition of Sri Lanka Beyond Your Dreams, a high-level diplomatic and investment engagement hosted by the Consulate General of Sri Lanka in Dubai and the Northern Emirates. The event, held on 2nd September 2026 at the Hilton Dubai Al Habtoor City, brought together over 400 senior UAE-based business leaders, investors, diplomats, and institutional stakeholders, alongside Sri Lanka’s most senior government representatives.
The gathering was graced by Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, as Guest of Honour, and Vijitha Herath, Sri Lanka’s Minister of Foreign Affairs, Foreign Employment and Tourism. A high-level Sri Lankan delegation – including the Secretary to the Prime Minister, the Chairman of the Board of Investment, the Chairman of the Export Development Board, and the Director General of Commerce – underscored the government’s strong commitment to deepening economic diplomacy with the UAE.
In his keynote address, Minister Herath reaffirmed the centuries-old ties between Sri Lanka and the Arab region, emphasising the UAE’s vital role as a key economic partner. He stressed the urgency of finalising a Comprehensive Economic Partnership Agreement (CEPA) with the UAE, which would establish a robust framework to elevate trade, investment, and bilateral cooperation. Declaring Sri Lanka “open and ready for business,” he positioned Port City Colombo as the physical embodiment of this economic mission – a modern Special Economic Zone (SEZ) with a dedicated legal framework and competitive incentives, offering UAE investors a natural gateway to South Asia while maintaining strong Gulf connectivity.
Business
American Premium Water strikes Gold at Dragons of Sri Lanka 2026
American Premium Water has secured four wins at Dragons of Sri Lanka Awards 2026, including three Gold Dragons and one Black Dragon, marking a significant milestone for the brand following its relaunch last year.
Part of the prestigious Dragons of Asia awards, Dragons of Sri Lanka brings the program’s regional platform to the local market, celebrating creative and effective marketing communications, with entries evaluated on strategic thinking, creativity, execution and impact. Established in 2000, Dragons of Asia is one of Asia’s premier results-driven marketing awards programs.
For American Premium Water, the achievements are particularly significant given that the company’s debut at the Dragons awards has resulted in four Dragons across four categories. In the distinction of Gold Dragons, American Premium Water was recognized across three categories including Product Launch or Re Launch, Cause, Environment or Sustainability and Creative Excellence while the Black Dragon was awarded in recognition of Small Budget.
Competing alongside leading brands and agencies in Sri Lanka, American Premium Water’s four wins demonstrate the strength and effectiveness of its recent work. Winning three Gold Dragons across three distinct categories highlights the breadth of the brand’s achievements, while the Black Dragon for Small Budget further emphasizes its ability to create meaningful impact through focused and efficient investment.
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