Business
Market expansion and European investment drive 99x’s growth in 2021
Despite challenging market conditions brought on by the prevailing pandemic in 2021, technology company 99x saw organisational growth across the board while maintaining topline performance and recording strong profitability for the financial year ended 31 December 2021.
Some notable achievements for the year were the USD 20 million investment from a Scandinavian private equity company and the acquisition of Norway-based Seeds Consulting AS, to increase its presence in Europe and strategically position 99x to build new offerings to the enterprise market. The company also diversified its customer portfolio by expanding into new markets last year and onboarded new clients, spread across Norway, Sweden, Germany, and Singapore. This growth was supplemented with a notable increase in talent at 99x’s Sri Lankan offices, with over 100 employees recruited virtually in the last year alone.
“2021 was a challenging year. We expected greater mobility across borders, which was finally not the case and not what we hoped for. However, our people continued to deliver through it all while working from home for a second year. We see the trend of digitally onboarding customers and employees in our business, which we believe will be the new normal. Our customer satisfaction scores have in fact increased over the past two years, which is a testament to the dedication and resourcefulness of our teams, and I truly appreciate their commitment – our accomplishments in 2021 would not be possible without them,” observed 99x Founder and CEO Mano Sekaram, when commenting on the company’s performance.
He added that despite the ongoing pandemic, the company hopes to have more people in office this year. “Our work has been cut out for us in 2022, with various macro-economic factors weighing in – being a good employer is no longer enough. However, I’m confident we will continue to find new ways to engage and retain our people.”
99x also strengthened its leadership with the appointment of legal professional Shalini Ratwatte as its Chief Legal and Governance Officer, to play a tactical role in company’s plans for expansion in international markets.
Keeping in line with its people-first approach, the company made it a priority in 2021 to extend the maximum support to employees and families affected by COVID, providing logistical and financial assistance at every stage. “Our HR, facilities and administrative teams rose to the challenge in extending this level of support to our employees in a difficult time,” Sekaram noted.
99x continued to be recognized for its people practices, and business and export excellence. It was listed as a Best Workplace in Asia for a fifth year and Best Workplace in Sri Lanka for a ninth consecutive year by Great Place to Work® Institute.
Uplifting the community continued to be of the highest priority for 99x, and the company focused on aiding hospitals during a time when the healthcare industry has been inundated. This included contributions to the Kalubowila HDU and setting up of a PCR testing facility at the Wathupitiwala Base Hospital.
99x’s university relationships initiative Dotitude continued uninterrupted in 2021, with numerous workshops, trainings, mock interviews and more conducted online for universities and higher education institutes, empowering thousands of undergraduates across the country. This culminated with the launch of ‘Hacktitude’ in December, an inter-university hackathon geared at grooming talented undergraduates to be industry-ready upon graduation.
Understanding that remote working is now here to stay, the company partnered with VMware to implement its Workspace One platform across the organisation, which bolstered the company’s work-from-home strategy and enabled it to deliver seamless, uninterrupted product engineering services to global clients, even during the peak of the COVID-19 pandemic.
99x is a technology company co-creating well-engineered, innovative digital products for the Scandinavian market. Its expertise has been proven through a portfolio of over 150 impactful global digital products, developed together with leading Independent Software Vendors (ISVs). 99x employs over 350 technology and product specialists, who are high achievers, creative thinkers and team players. The company is one of Asia’s Best Workplaces for 2021 and has been named a Best Workplace in Sri Lanka for nine consecutive years.
Business
Cost-effective clearance of goods across borders to determine worth of Customs Paperless Declaration
By Ifham Nizam
The introduction of the Customs Paperless Declaration from October 1 could mark an important step in Sri Lanka’s efforts to modernise trade, but its real value will depend on whether it reduces the time and cost of moving goods through the country’s borders, Customs House Agents & Traders Association President Mohamed Niyas said.
Niyas warned that digitising Customs declarations alone would not necessarily translate into faster cargo clearance or lower costs for businesses.
‘Expecting a dramatic improvement in clearance speed under the present conditions is like expecting Ferrari performance from a Morris Minor configuration, he said.
For importers and exporters, the issue extends well beyond paperwork. Every additional hour or day that cargo remains in the clearance chain can have wider consequences for businesses, including increased port and storage-related costs, additional working-capital requirements, uncertainty over delivery schedules and disruptions to production and distribution.
Niyas said the competitiveness of Sri Lanka’s trading sector ultimately depended on how efficiently goods could move through the country’s border-clearance system.
‘The real bottleneck is not merely the absence of paper. It is the entire clearance ecosystem—the limitations of the existing ASYCUDA World system, excessive regulatory interventions by Other
Government Agencies, multiple approvals, physical examinations, manual interventions, fragmented processes and institutional constraints, he said.
He cautioned that unless these bottlenecks were addressed, there was a risk that the paperless initiative would merely digitise existing bureaucracy.
‘If these underlying constraints remain unchanged, there is a real risk that the new paperless system could become another “copy-and-paste road show”—where an old, complex clearance process is simply transferred onto a digital screen without fundamentally changing the process itself, Niyas said.
For businesses dependent on imported raw materials, machinery, components and other inputs, clearance efficiency can directly affect the wider supply chain.
Delays at the border can create uncertainty for manufacturers, distributors and retailers, while exporters can face difficulties meeting delivery schedules when imported inputs or export consignments are held up.
Niyas therefore argued that the success of the October 1 initiative should be judged by its impact on trade flows rather than by the number of declarations processed electronically.
‘Paperless does not automatically mean faster, he said. ‘Digitising a slow process does not make the process fast. It only makes the slow process digital.’
He said Sri Lanka needed to move towards what he described as “process-less Customs”—a system in which unnecessary procedures are eliminated rather than simply converted into electronic procedures.
Among the reforms he called for are simplification of Customs declarations and approval workflows, improvements to the functionality of ASYCUDA World, greater use of risk-based inspections and better integration of Other Government Agency approvals.
Niyas also called for the elimination of repetitive document submissions and physical endorsements, greater use of pre-arrival processing, sufficient capacity for digital document uploads and clearly defined service-level timelines for Customs and OGAs.
Business
China backs Sri Lanka’s Non-aligned stance to counter regional pressures
By Sanath Nanayakkare
As global attention has fixed on the high-level diplomatic choreography at the United Nations General Assembly in New York, a subtler, yet profound geopolitical signal was sent from Colombo, yesterday.
In a major address marking the founding anniversary of the People’s Republic of China, newly appointed Chinese Ambassador Wei Huaxiang chose to anchor bilateral relations not just in modern trade or infrastructure, but in a shared respect for Sri Lanka’s legacy of non-aligned independence.
By explicitly invoking Sri Lanka’s foundational role in the 1976 Non-Aligned Summit, Beijing was doing something unexpected in an era defined by fierce great-power rivalry: it was officially validating a small island nation’s right to maintain an independent foreign policy stance.
The Strategic Value of Independence
For decades, nations caught in the crosshairs of major-power competition have faced intense pressure to pick sides. Yet, Ambassador Wei’s embrace of Colombo’s non-aligned tradition signaled a different diplomatic playbook. Instead of demanding alignment, Beijing was framing its partnership as a reliable counterbalance to regional pressures. By honouring Sri Lanka’s diplomatic autonomy, China was effectively reassuring smaller economies that sovereign independence and robust economic cooperation can coexist.
Beyond Ports and Industrial Zones
This diplomatic framing reframed the narrative surrounding major collaborative ventures like the Colombo Port City and Hambantota Port. While foreign analysts often view these projects exclusively through the lens of strategic rivalry, Beijing’s diplomatic messaging tied them back to a historical ethos of solidarity—evoking memories of the 1952 Rubber-Rice Pact.
By marrying economic projects with a stated respect for non-alignment, China is positioning itself as a steadfast stakeholder that respects Sri Lanka’s internal agency during difficult economic and political seasons.
As both nations look toward major milestones in 2027—including the 70th anniversary of diplomatic ties—this nuanced diplomatic move revealed how historic traditions are being leveraged to navigate modern multipolar realities.
For global observers, the takeaway was clear: in the shifting architecture of Asian geopolitics, respecting a nation’s historical neutrality may just be the most effective way to secure a lasting partnership, a diplomatic masterclass that Ambassador Wei Huaxiang executed in style.
Business
Sri Lanka Insurance Life appoints Dr. Sameera Dharmasena Chief Executive Officer
Sri Lanka Insurance Life (SLIC Life), the nation’s largest and strongest Life Insurer, is pleased to announce the appointment of Dr. Sameera Dharmasena as its new Chief Executive Officer, effective 22nd September 2026.
Dr. Dharmasena is a distinguished insurance professional with over 21 years of experience in the Sri Lankan insurance industry, having held senior leadership positions across several leading insurance companies affiliated with some of Sri Lanka’s largest business conglomerates. His extensive career spans both local and multinational insurance environments, bringing together broad industry expertise, strategic leadership and a strong commitment to the advancement of the insurance profession.
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