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New BOI company launched to bailout failed local hotels in partnership with Singaporean investors

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By Hiran H.Senewiratne

A new BOI- approved company, Lankalia Pvt. Ltd, was launched recently to bailout and re-launch defunct and non-profitable tourism and leisure sector assets in Sri Lanka with the participation of Singapore investors.

“We have initially invested over UD$ 5 million and restarted some of the top hotels that were shut down due to the pandemic and financial issues, said partner Lankalia Pvt Ltd., Andrew Lee, who is also director of Ambrosia Ltd of Singapore and a majority stakeholder of Blue Diamonds Ltd.

Lee said that they are optimistic that the Sri Lankan tourism sector would rebound earlier than expected. “SriLankan Airlines has also resumed flights to China, while other airlines have increased frequency and an influx of Chinese tourists too are expected. We studied that to meet this projected demand the local hotel rooms are not going to be adequate and several have been shut down and our aim is to revive them and get them operational, he said.

He added that some of the hotels are unable to service their debt and “we came forward to bail them out, providing capital and enabling them to get back to business again.”

Chairman Lankalia Pvt. Ltd, Dhakshitha Bogollagama said that their focus is on small luxury boutique hotels and they have already provided capital for four hotels; three in the South and one in Anuradhapura, and these hotels, which were virtually shut down, will start operating in a few days’ time.

He explained that these hotels are mostly single owner hotels but were in huge debt and they stepped in and bailed them out, providing them credit. “This would be at a far lower rate than the present market interest rate.”A Singapore consortium partner provides them seed capital for this process.



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JXG’s Wasanthi Stephen makes history as the first female recipient of the CIPM Sri Lanka Lifetime Gold Award

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JXG (Janashakthi Group) celebrates Wasanthi Stephen, Group Chief Human Resources Officer, on becoming the first female recipient of the prestigious CIPM-Baurs Lifetime Gold Award 2026 from the Chartered Institute of Personnel Management (CIPM) Sri Lanka .

JXG (Janashakthi Group) celebrates Wasanthi Stephen, Group Chief Human Resources Officer, on becoming the first female recipient of the prestigious CIPM-Baurs Lifetime Gold Award 2026 from the Chartered Institute of Personnel Management (CIPM) Sri Lanka since the award’s inception. Presented on 14 October 2026, at the opening of the National Human Resource Conference (NHRC) 2026 at Monarch Imperial, Kotte, the award marks a historic milestone for Sri Lanka’s Human Resources profession and a proud moment for JXG.

The highest individual recognition in Sri Lanka’s Human Resource Management sphere, the CIPM Sri Lanka Lifetime Gold Award celebrates individuals whose long-standing contributions have advanced the HR profession at organisational, national, and international levels. It recognises professional excellence, ethical leadership, transformational impact, and a sustained commitment to people and institutions.

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Dinemore joins the Dialog Pay Merchant ecosystem

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From left to right: Muditha Premarathne, Vice President, Digital Platforms and Partnerships, Dialog Axiata PLC; Shaheem Sadikeen, Director, Dinemore.

Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider, has expanded the Dialog Pay merchant ecosystem through a new partnership with Dinemore, bringing secure LankaQR payments to customers across its network of 12 restaurants. Customers can now use Dialog Pay when enjoying Dinemore’s wide range of meals, while receiving complimentary Dialog data on eligible LankaQR transactions.

From quick meals during a busy day to dining with family and friends, customers can use Dialog Pay for a secure and convenient way to pay at Dinemore restaurants. By adding another digital payment option, the partnership brings greater flexibility to the everyday dining experience while complementing Dinemore’s longstanding focus on serving accessible and enjoyable meals to customers.

Shaheem Sadikeen, Director of Dinemore, said, “For many years, Dinemore has been part of the everyday dining experiences of Sri Lankans, and staying relevant means continuing to evolve alongside our customers. Partnering with Dialog Pay is part of that journey, bringing greater digital convenience and added value to the way customers dine with us. We are pleased to work with Dialog in embracing solutions that enhance the experience our customers have come to know and enjoy.”

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Sarvodaya Development Finance expands regional footprint to improve access to financial services

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Sarvodaya Development Finance PLC (SDF), a financial services provider in Sri Lanka, has further strengthened its regional presence with the opening of a new branch in Kantale and the relocation of its existing Dehiattakandiya branch to a new premises. These developments mark another step in the company’s ongoing efforts to enhance customer convenience, improve accessibility to financial services, and strengthen its commitment to serving communities across the country.

The new Kantale branch was officially opened on 15 October 2026 at 10.30 a.m. at No. 88/1/A, Main Street, Kantale. The opening ceremony was attended by the Chairman / Directors, Chief Executive Officer, and members of the management team of Sarvodaya Development Finance. The establishment of this new branch is aimed at providing residents of Kantale and surrounding areas with greater convenience and improved access to financial services, while strengthening the company’s presence in the region.

Meanwhile, as part of its continued focus on enhancing customer convenience and service accessibility, Sarvodaya Development Finance relocated its Dehiattakandiya branch to a new premises on 14 October 2026, commencing operations at 10.00 a.m. Previously located at No. 62/1E, New Town, Dehiattakandiya, the branch now operates from No. 29/G, New Town, Dehiattakandiya. The relocation is intended to provide existing and prospective customers in the area with more convenient access to the company’s financial services.

Through these developments, Sarvodaya Development Finance aims to strengthen its engagement with local communities, including farmers, small and medium-sized entrepreneurs, local businesses, and individual customers in Kantale, Dehiattakandiya, and surrounding areas. By improving access to formal financial services, the company seeks to support the financial needs of these communities and contribute to their economic activities.

Understanding and responding to evolving customer needs remains a key priority for Sarvodaya Development Finance. The company continues to focus on delivering accessible, reliable, and customer-centric financial services through improvements to its branch network and service delivery capabilities. Such initiatives reflect its broader commitment to building stronger relationships with customers while ensuring that financial services remain accessible to communities beyond major urban centres.

The opening of the Kantale branch and the relocation of the Dehiattakandiya branch further demonstrate Sarvodaya Development Finance’s continued commitment to customer-focused service delivery, promoting financial inclusion, and supporting the economic needs of regional communities across Sri Lanka.

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