Business
John Keells Group’s Start-Up-Cycle concludes with Demo Day
Plasticcycle, the social entrepreneurship project of the John Keells Group, concluded its inaugural Start-Up-Cycle initiative, with Demo Day on 28th November 2023. ‘Start-Up-Cycle’, is the challenge platform of Plasticcycle, launched in collaboration with John Keells X, the Group’s start-up accelerator, and John Keells Research, the Group’s R&D and Innovation arm, with the objective of empowering Sri Lankan entrepreneurs and innovators to address plastic usage and waste challenges through innovative and implementable long-term solutions.
With over 100 applications received by the end of September 2023, an Open Day was facilitated between solution providers and problem statement owners from John Keells Group businesses in Leisure, Consumer Foods, and Retail. The six-week programme, which commenced in October 2023 provided the applicants the opportunity to fine-tune their skills with the John Keells Group team members on essential areas such as Minimum Viable Products (MVP), Intellectual Property (IP), Financial Management, and Legislative processes.
Suresh Rajendra – President of the John Keells Group Leisure sector and Social Entrepreneurship, said “The John Keells Group launched Plasticcycle with the vision to be a catalyst in significantly reducing plastic pollution in Sri Lanka. Through strategic partnerships, Plasticcycle has taken its focus areas of encouraging the reduction of single-use plastics, supporting responsible disposal, and promoting recycling initiatives and innovation, outside of the Group, now making this social entrepreneurship project an integral part of the circular economy of the waste management industry. We are committed to consistently seeking the best solutions to ensure a greener future.”
8 applicants were shortlisted to pitch their business plans to the judges – Ajit Gunewardene – Founder & CEO of Bluestone Capital Private Limited, Sarojini Jayasekara – Director, Solid Waste Management of CEA, and Sharmini Ratwatte – Non-Executive Director of Ceylon Cold Stores PLC, on Demo Day. The judging criteria encompassed Impact on the given Problem Statement, Cost-Effectiveness, Market and Customer Knowledge, Entrepreneurial Mindset, Competitive Advantage, Execution, and Financial Strategy.
The judges selected 3 winners – Tashini Vithanage (product: a compostable alternative for plastic cling wrap used in the hotel sector) Padmashantha Fonseka (product: a compostable alternative for plastic bento box used in the hotel sector) and Rashmi Mohotti (product: a compostable alternative for plastic take away fruit juice cup used in supermarkets), to receive the start-up funding of a collective RS. 10 million to support the further development of their proposed business ideas while working closely with the respective John Keells Group Businesses.
Ajit Gunewardene stated “At a time when environmental challenges are pressing, initiatives like this provide a platform for passionate entrepreneurs to showcase their ideas and drive positive change. The commitment of John Keells to fund such endeavours aligns seamlessly with the growing importance of Environmental, Social, and Governance (ESG) considerations. Supporting and nurturing these startups not only fosters disruptive innovation but also contributes to a sustainable future which exemplifies the synergies between corporate citizenship and entrepreneurial spirit.”
John Keells Holdings PLC (JKH), is the largest conglomerate listed on the Colombo Stock Exchange, operating with over 70 companies in 7 diverse industry sectors. With a history of over 150 years, John Keells Group provides employment to over 14,000 persons and has been ranked as Sri Lanka’s ‘Most Respected Entity’ for the last 18 Years by LMD magazine.
John Keells Holdings PLC was ranked first for the third consecutive year in the ‘Transparency in Corporate Reporting Assessment’ by Transparency International Sri Lanka. Whilst being a full member of the World Economic Forum and a participant of the UN Global Compact, JKH drives its CSR vision of “Empowering the Nation for Tomorrow” through John Keells Foundation and through the social entrepreneurship initiative, ‘Plasticcycle’, which is a catalyst in significantly reducing plastic pollution in Sri Lanka.
(JKH)
Business
Ambeon Securities hosts exclusive investor forum on Sri Lanka’s economic and market outlook
Ambeon Securities recently hosted an exclusive investor forum, bringing together clients, investors, business leaders, and market professionals for an insightful discussion on Sri Lanka’s economic outlook and investment opportunities amidst a challenging global landscape.
The event was organized with the objective of providing investors with valuable insights to make better-informed investment decisions while further strengthening the firm’s engagement with its growing client base.
The forum featured Baqar Zaidi, Director and Chief Economist for Sri Lanka and India at Citi Research, as the keynote speaker. Sharing his perspectives on the evolving global macroeconomic environment, Mr. Zaidi discussed key themes influencing emerging and frontier markets, Sri Lanka’s economic trajectory, and the opportunities lie ahead.
The keynote address was followed by an engaging panel discussion comprising Baqar Zaidi, Aravinda De Silva, respected investor, entrepreneur, and the Chairman of Arcasia Holdings. Hasitha Premaratne, Group Managing Director of Brandix and Asanka Herath, Chief Executive Officer – Unit Trusts and Head of Equities at LYNEAR Wealth Management.
Moderated by Imran Furkan, the panel explored a range of topics including Sri Lanka’s macroeconomic outlook, the future of the Colombo Stock Exchange, sectoral opportunities, capital allocation strategies, investor confidence, and the role of policy reforms in attracting investment and supporting long-term growth.
Speaking at the event, Charith Kamaladasa, Chief Executive Officer of Ambeon Securities, reaffirmed the company’s commitment to facilitate quality insights, informed perspectives, and meaningful dialogue to support their clients while building lasting relationships with them. He noted that in an environment where uncertainty has become the new normal, equipping investors with timely information and expert perspectives is essential for successful wealth creation.
The event was well attended by a distinguished gathering of institutional investors, high-net-worth investors, and business leaders. Among those present were members of the Ambeon Group Board, including Group Chairman Sujeewa Mudalige, Group CEO Dr. Sajeeva Narangoda, and Chairman of Ambeon Securities Mangala Boyagoda. Their presence, together with the participation of Ambeon Group shareholders and valued clients, enriched the discussions and contributed to a vibrant networking session, fostering meaningful dialogue and stronger connections within the investment community.
Through initiatives such as this, Ambeon Securities continues to reinforce its commitment to helping clients navigate evolving market conditions, make informed investment decisions, and achieve their long-term financial goals.
Business
Tata Group leads humanitarian education support initiative with DIMO and ChildFund
The Tata Group, in partnership with ChildFund and DIMO, has successfully implemented a humanitarian education support initiative for disaster-affected schoolchildren in Sri Lanka, reaffirming its commitment to helping communities recover from the impacts of Cyclone Ditwah and the subsequent floods.
Following a formal request for support from Sri Lanka, an on-ground assessment was conducted in December 2025. Recognizing the urgent need, several Tata companies joined forces to implement the response program.
As part of this initiative, the ‘Hope in a Backpack’ programme, which provides disaster-affected children with essential educational supplies, was launched by the Tata Group at Taj Samudra, Colombo, in the presence of the Chief Guest, Hon. Prime Minister Dr. Harini Amarasuriya; the Guest of Honour, Hon. Indian High Commissioner Santhosh Jha; Ranjith Pandithage, Chairman of DIMO; Chacko Thomas, Group Chief Sustainability Officer, Tata Sons; and Aditi Ghosh, Country Director, ChildFund.
This initiative is part of DIMO’s Social and Community Pillar, under the project theme ‘Lassana Hetak,’ which focuses on giving the future generation a helping hand towards a better future.
This collective effort was further strengthened by volunteers from Tata and DIMO, who actively mobilized on the ground to pack, distribute, and support affected communities. During the proceedings, specially invited schoolchildren received the backpacks with essential supplies as well.
Commenting on the partnership, Ranjith Pandithage, Chairman of DIMO, said: “DIMO is proud to collaborate on this meaningful initiative alongside the Tata Group and ChildFund as the local implementation and logistics partner. Our relationship with Tata spans more than six decades and has been built on a shared commitment to ethical business practices, trust, and creating lasting value for the communities we serve. These values have shaped our partnership over the years, extending beyond business to initiatives that make a meaningful difference in people’s lives.”
Business
NovaNest Properties launches Rainbow Apartments in Ratmalana
NovaNest Properties (Pvt) Ltd has officially launched Rainbow Apartments, a new residential development in Ratmalana. The announcement was made at an official launch event held at the Shangri-La Hotel, Colombo, marking the company’s latest addition to Sri Lanka’s growing apartment market.
The development is designed to cater to homebuyers seeking modern urban living, as well as investors looking for long-term value. Rainbow Apartments is located in Ratmalana, an area of increasing residential interest, and benefits from the suburb’s established social infrastructure, proximity to major transportation links, and accessibility to Colombo.
The project reflects NovaNest Properties’ commitment to delivering quality residential developments that combine contemporary design with practical living. Intended to satisfy the evolving lifestyle demands of today’s homeowners, Rainbow Apartments features thoughtfully designed living spaces supported by modern amenities. These include two infinity pools, a gym, fully functional workspaces, a mini theatre, stylish cafés, a mini-mart, and a children’s daycare. Additionally, it features a full time medical centre backed by Nawaloka Hospitals PLC Colombo, with a 24-hour ambulance service.
Commenting on the launch, the Chief Executive Officer of NovaNest Properties (Pvt) Ltd, Samitha Waidyasekera, said, “Today’s buyers are looking beyond square footage. In addition to providing long-term value, they want homes that are close to the places where they work, learn, and spend their time. With that shift in mind, Rainbow Apartments was created to bring together a strategic location, thoughtful design, and quality construction in a way that will continue to meet buyers’ needs for years to come. Through our promise of ‘Luxury Beyond Expectations,’ we are committed to delivering an elevated lifestyle experience that combines comfort, convenience, and modern living.
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