Business
NDB Wealth Management team strengthened
NDB Wealth Management, the largest private sector Asset Management firm in Sri Lanka with over LKR 130 Bn in total Assets Under Management (AUM), is the leading Unit Trust Management firm in the country offering clients investment services through private portfolio management and Unit Trust investments.
Driven with the passion to deliver the best to its loyal clients and to continue to uplift its service offerings through professionalism and dedication, NDB Wealth Management is pleased to announce the key and strategic appointments of Ms. Vindhya Jayasekera as Chief Investment Officer and Mr. Indika De Silva as Vice President.
Vindhya Jayasekera, Chief Investment Officer, heads the Asset Management Division of NDB Wealth Management overseeing all equity and fixed income portfolios. Since joining the company in 2010, she has managed its unit trust product portfolio of various risk rated funds ranging from equity to fixed income. Backed with over eighteen years of combined experience in the investment banking and fund management industry, her previous work experience includes NDB Investment Bank and Lehman Brothers U.S.A.
Sharing her thoughts, Vindhya said, “I am excited to see how we can work to further develop our business operations and introduce new service offerings to enhance the client experience. The knowledge I have gained in Investment Banking and Asset Management will no doubt be an asset and together with my team of experienced fund managers and analysts I look forward to leveraging on our offerings to the company.”
An alumnus of the University of Moratuwa, Vindhya graduated with first class honors in BSc (Eng) in Civil Engineering. She is a recipient of the Fulbright Scholarship under which she completed her MSc in Finance at the University of Illinois, USA with a medal for Academic Excellence in the program. She is a CFA Charter holder and a certified Financial Risk Manager (FRM) of the Global Association of Risk Professionals and received her ACMA and CGMA designation from the Chartered Institute of Management Accountants in 2014.
Indika De Silva, Vice President at NDB Wealth Management commenced his career at NDB Wealth in 2008 as a Management Trainee. Indika, a CFA Charter holder is also a graduate of University of London, where he acquired his Bachelor of Science in Accounting and Finance. Indika has also obtained qualifications from the Chartered Institute of Management Accountants (CIMA) and Chartered Institute of Marketing (CIM).
“I am honored to be a part of the rich history of NDB Wealth Management Limited, where I have had the privilege of sharing my experience with some of the best Fund Managers in the Industry. The knowledge and experience I gained while managing Funds of the diverse clientele and working with the best Investment, Operations and Relationship Management teams have immensely contributed to what I have accomplished at NDB Wealth. I intend to extend my best efforts to NDB Wealth with utmost integrity and honesty in the future as well,” commented Indika.
Business
Rs 160 million + diesel discrepancy at Lakvijaya power plant prompts probe
By Ifham Nizam
A Rs.160 million-plus diesel discrepancy at the Lakvijaya power plant in Norochcholai has triggered an internal investigation, raising questions over the handling of public funds and the controls governing fuel purchased for electricity generation.
The discrepancy surfaced during an internal audit of diesel supplied to the plant from the Kolonnawa and Sapugaskanda fuel terminals, according to senior officials familiar with the inquiry.
The audit has identified five transactions—two in December 2025 and three in January 2026—in which diesel recorded as delivered to the plant allegedly could not be fully accounted for in its physical stocks.
The investigation is now examining whether these were isolated discrepancies or part of a longer-running practice.
One transaction under scrutiny relates to January 16, when records reportedly showed that 10 diesel bowsers had arrived at the plant. Investigators subsequently found indications that the fuel stock corresponded to only nine bowsers.
A storekeeper responsible for the relevant fuel operation has reportedly been temporarily removed from those duties pending the investigation.
A senior official said investigators were reviewing historical records amid indications that similar discrepancies may have occurred over a longer period. If established, the financial exposure could therefore exceed the Rs.160 million currently identified.
The investigation is comparing fuel-terminal dispatch records, tanker movements, plant-entry records, receiving documents and physical stocks to establish exactly how much fuel was dispatched, received and accounted for.
That audit trail will also be critical in determining who authorised, received and certified the disputed consignments, and whether established controls were followed.
Relevant documents were reportedly transferred from Norochcholai to the company’s Colombo head office on September 26 for further examination, with electricity-sector security personnel assisting in the transfer.
The internal audit has also reportedly uncovered expired chemical stocks worth several hundred thousand rupees in the plant’s stores. Investigators are examining whether further inventory-management irregularities occurred.
The matter was also reportedly taken to the Puttalam Police Special Crimes Investigation Unit on September 26.
When contacted by Puttalam-based journalist Hiran Priyankara Jayasinghe for The Island Financial Review, Lakvijaya Power Plant Manager Nalaka Kumara confirmed that an investigation was under way but declined to provide further details.
The financial issue is direct: if the plant paid for diesel it did not receive, public-sector funds were spent without the electricity sector receiving the corresponding fuel.
Business
Sri Lanka Food Processors Association holds 29th Annual General Meeting
The Sri Lanka Food Processors Association (SLFPA) successfully convened its 29th Annual General Meeting (AGM) on September 23, 2026, at the Water’s Edge Hotel, Battaramulla. Bringing together key industry stakeholders and member organizations, the event served as a platform to review milestone achievements from the 2025/2026 term and outline strategic priorities for the nation’s food and beverage processing sector.
At the AGM, the new Executive Committee for 2027/2028 was appointed, comprising: Honorary President Aruna Senanayake C.W. Mackie PLC Imme. Past President Thusith Wijesinghe Trans Continental Packaging & Commodities (Pvt) Ltd.
President Elect Nadishan Guruge Meadlee Trading Co. (Pvt) Ltd.
1st Vice President Damitha Perera Forbes & Walkers Commodity Brockers (Pvt) Ltd.
2nd Vice President Rasika Seneviratne Diesel & Motor Engineering PLC 3rd Vice President Deepal De Alwis Neochem International (Pvt) Ltd.
Honorary Secretary Amila Weerasinghe Nestle Lanka Limited.
Asst. SecretaryDineth Alahakoon Country Style Foods (Pvt) Ltd.
Honorary Treasurer Sameera Jayathilaka Westmann Engineering Company (Pvt) Ltd.
Asst. Treasurer Niroshan Dalpethado C D De Fonseka & Sons (Pvt) Limited. In addition to the above office bearers, the following ten Executive Committee Members were appointed:
Sanjeewa De Silva Unilever Sri Lanka Limited Sheran De Alwis MA’S Tropical Food Processing (Pvt) Limited
Thusitha Ekanayake Anods Cocoa (Pvt) Ltd.
Vijitha Govinna Plenty Foods (Pvt) Limited Ms. Praharshi Wickramasekara International Commodity Exports (Pvt) Ltd.
Sanjeewa Niroshan SGS Lanka (Pvt) Ltd. Kushan Amarasinghe Finagle Lanka (Pvt) Ltd.
Rangajeewa Hettiarrachchi Fonterra Brands Lanka (Pvt) Ltd.
Harindra Abeyrathna Vision Technologies International (Pvt) Ltd. Thilina Weerasekara Ceylon Cold Stores PLC
The event was proudly supported by key industry partners, with SGS Lanka (Pvt) Ltd serving as the Platinum Sponsor. Unilever Sri Lanka Ltd. and Nestlé Lanka Ltd. joined as Gold Sponsors, Ceylon Agro Industries – Prima as the Silver Sponsor, while Lanka Exhibition & Conference Services (LECS) and Hero Nature Products (Pvt) Ltd., supported as Bronze Sponsors.
The proceedings concluded with a vote of thanks delivered by Hony. Secretary Deepal De Alwis, followed by cocktails and a fellowship networking session, providing an opportunity for members to connect and strengthen industry ties.
Business
Uber brings the ‘business class of back seats’ to Sri Lanka with Uber Black
New premium ride option expands Uber’s portfolio from affordable Moto and Tuk rides to premium on-demand travel
Uber announced the launch of Uber Black in Sri Lanka, bringing its premium ride experience to the country for the first time. Designed as the “business class of back seats,” Uber Black combines premium vehicles and highly-rated drivers for riders looking for greater comfort, quality and a more elevated travel experience.
The launch comes as demand for premium products and experiences grows across Sri Lanka, with consumers seeking greater choice and quality in their everyday experiences. Uber Black brings this choice to on-demand mobility, whether for an airport journey, an important business meeting, a special occasion or simply when riders want to travel in greater comfort.
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