Business

Nawaloka Hospitals tops healthcare on LMD’s Most Respected Entities Listing

Published

5 years ago

2021/09/4

Affirming its indelible reputation as the country’s pioneering private healthcare provider, Nawaloka Hospitals roars ahead on LMD’s Most Respected Entities Listing. Nawaloka Hospitals Chairman Dr. Jayantha Dharmadasa was thus honoured as one among LMD’s Most Respected Businesspeople in recognition of his steadfast leadership, powerful vision and immense contribution to expanding the boundaries of Sri Lanka’s private healthcare sector.

Nawaloka Hospitals also claimed victory as the top entity in the healthcare sector and was listed among the Top 20 Companies inducted into LMD’s Hall of Fame. The hospital was elected as the sector winner in terms of corporate culture, CSR and Sustainability, crisis management, honesty, dynamism and quality consciousness. Further, Chairman Dr. Jayantha Dharmadasa and Deputy Chairman Harshith Dharmadasa were recognised on LMD’s illustrious Hall of Fame listing for Chairman and Chief Executives.

This victory is in recognition of the remarkable progress achieved by Nawaloka Hospitals in delivering excellence in clinical outcomes, operational efficiency, patient experience and financial health during the challenging past year. The healthcare giant also prides itself in implementing a strong, sustainable business model that has enabled it to offer diversified operational specialities through high-end, value-added medical services, a model that recently had its financial rating of BBB- with a stable outlook reaffirmed by ICRA Lanka.

“We are deeply humbled to receive such honour among our corporate peers at this particularly challenging period in Sri Lanka. Nawaloka Hospital’s has always strived hard to bring quality, compassionate care to communities, expand healthcare access, promote health equity by bringing care to those most in need, and improve the health of all we serve. Our mission has been especially critical during the COVID-19′ pandemic, which was a catalyst for reinvention, and we believe we are currently positioned to emerge stronger and smarter out of this crisis. I am especially grateful for the unwavering and selfless dedication of our doctors, consultants, staff and all our frontline caregivers for their remarkable and life-changing service.

“I want to stress that a hospital cannot earn acceptance overnight. It is gained from the cultivation of trust and respect over a long period of time. This highly coveted national recognition on LMD’s Most Respected Entities Listing is therefore a clear testament to our place among the people and the high level of corporate respect we have garnered thus far,” remarked Nawaloka Hospitals Deputy Chairman Harshith Dharmadasa.

Commencing operations in 1985 as the first private sector hospital in Sri Lanka, the Nawaloka group has over the years established a strong brand name in the Sri Lankan healthcare industry. The premier multi-specialty hospital was designed to replicate the advanced medical technology and care offered by leading healthcare facilities around the world, and ensure that these services are available to all Sri Lankans. Set to become a centre of excellence in high-tech diagnostic and curative facilities, it is driven by a vision of becoming the hospital of tomorrow. It is currently one of the largest hospital chains in Sri Lanka with a total capacity of 365 beds in Colombo and Negombo hospitals, further strengthened by its island-wide network of labs.

The hospital chain houses world-class facilities in strategic locales across the island to enable Sri Lankans everywhere to access the expertise of a team of reputed consultants and specialists, and supporting medical staff. In 2021, Nawaloka commenced the construction of an extension building to the Negombo regional hospital, further enabling the hospital chain to strengthen its regional presence. Nawaloka Hospitals specialist center also operates 14 speciality treatment centres, including a bone marrow transplant unit, post-COVID care center, kidney centre, neuro centre and heart centre.

Starting January 2021, Nawaloka Hospitals also introduced four world-class, fully-geared Intermediary Care Centres with ICU facilities, by partnering with several star class hotels, to offer a total capacity of 900 beds. The hospital also offers in-house treatment for COVID-19 patients in one of their isolated wings. To date, the hospital had treated over 10,000 COVID-19′ patients.

The Most Respected Entities rankings are based on a survey commissioned and conceptualised by Lanka Monthly Digest (LMD) and conducted by leading research firm Nielsen. This year’s survey covered a sample of 800 respondents, managers and above, from listed companies across a set of 12 different attributes; financial performance, quality consciousness, management profile, honesty, innovation, dynamism, corporate culture, CSR, vision and nation-mindedness.

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Business

ADB approves $100 million loan to boost skills development and jobs for youth in Sri Lanka

Published

4 hours ago

2026/10/2

Thilina Walpola

The Asian Development Bank (ADB) has approved a $100 million results-based loan to help Sri Lanka transform its technical and vocational education and training (TVET) system, equip more young people with industry-relevant skills, and strengthen the country’s competitiveness and inclusive growth.

The Skills Development System Transformation Program will support the Government of Sri Lanka’s efforts in improving the quality and relevance of skills training, strengthening links between training providers and industries, and expanding employment opportunities for youth. The program will increase women’s employment opportunities in nontraditional jobs in fields including automotive technology, engineering, information and communications technology, construction, and renewable energy.

“A skilled workforce is essential to Sri Lanka’s long-term economic transformation and competitiveness,” said ADB Country Director for Sri Lanka Shannon Cowlin. “This program will help create stronger pathways from education to employment by making training more responsive to industry needs, expanding opportunities for young people and women, and ensuring that graduates have the skills required by a modern and evolving economy.”

Though Sri Lanka’s economy is recovering, it faces skills shortages in priority sectors, high youth unemployment, and low female labor force participation. Many employers report difficulty finding workers with the skills needed in a changing economy.

Aligned with the Government of Sri Lanka’s Technical and Vocational Education and Training Sector Strategic Framework 2026–2035, the nationwide program will be implemented from 2027 to 2031 and is expected to directly benefit more than 100,000 young people through improved access to quality, employment-oriented training.

Business

USD 40.84m pipeline to secure aviation fuel supplies to BIA

Published

4 hours ago

2026/10/2

Thilina Walpola

By Ifham Nizam

The government has cleared a USD 40.84 million and Rs. 8,548.75 million contract to build a dedicated aviation fuel pipeline from Muthurajawela to Bandaranaike International Airport (BIA), alongside a massive new fuel storage facility with a capacity of 92,000 cubic metres.

Energy Minister Anura Karunatilaka said the project represented a major investment in strengthening the infrastructure underpinning Sri Lanka’s aviation fuel supply and ensuring more reliable fuel availability at the country’s main international airport.

‘This project will provide the infrastructure required to strengthen the reliability and continuity of aviation fuel supplies to Bandaranaike International Airport, Karunatilaka said.

The contract has been awarded to China Petroleum Pipeline Engineering Company Limited, following an international competitive procurement process in which three bids were received.

The project will see a new aviation fuel storage tank complex constructed at Muthurajawela, together with the associated infrastructure required for handling and transferring aviation fuel.

Business

CSE activity up, turnover weak at Rs. 1.4 billion

Published

4 hours ago

2026/10/2

Thilina Walpola

By Hiran H Senewiratne

Trading activity on the Colombo Stock Exchange (CSE) gathered pace yesterday as global fuel prices began to show signs of easing, according to market analysts.In this context, both indices moved upwards. All Share Price Index up by 67.97 points while S and P SL20 up by 8.30 points.

Turnover stood at Rs 1.4 billion with seven crossings. Those crossings were reported in Sampath Bank 1.7 million shares crossed to the tune of Rs 238 million and its share price traded at Rs 140, Access Engineering two million shares crossed to the tune of Rs 159 million and its share price traded at Rs 79.50, LOLC one million shares crossed to the tune of Rs 129 million and its share price traded at Rs 129, HNB 100,000 shares crossed to the tune of Rs 38.4 million and its share price traded at Rs 384, JKH 1.9 million shares crossed to the tune of Rs 35 million and its share price traded at Rs 18.60, Hayleys 100,000 shares crossed to the tune of Rs 22.50 million and its share price traded at Rs 225 and Richard Pieris 847,000 shares crossed to the tune of Rs 22 million and its share price traded at Rs 25.50.

In the retail market top seven companies that have mainly contributed to the turnover were Sampath Bank Rs 114 million (813,000 shares traded), JKH Rs 100 million (5.3 million shares traded) LB Finance Rs 49 million (325,000 shares traded), HNB Finance Rs 30 million (27 million shares traded), HNB Rs 27 million (70000 shares traded), NTB Rs 25 million (82000 shares traded ) and Lanka IOC Rs 21 million (666,000 shares traded). During the day 65 million shares volumes changed hands in 10433 transactions.

The Banking and manufacturing sector counters performed well. In the banking sector Sampath Bank let the market while manufacturing sector especially JKH also significantly performed well. With the fuel revision Land IOC also a significant stock at the floor.

Meanwhile, First Capital Treasuries said that Ramesh Schaffter resigned as a Non-Independent Non-Executive Director with effect from October 1, to facilitate the restructuring of the company’s board.

Yesterday the Central Bank announced the US Dollar rate as against rupee. The rupee was quoted flat at Rs 330.65/80 to the US dollar in the spot market , while bond yields dropped, dealers said.