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Prime Lands Residencies announces Sandamini Perera as new Executive Chairperson

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Prime Lands Residencies PLC, the real estate leader, has announced a change in leadership with Sandamini Perera assuming the role of Executive Chairperson of the Company’s Board of Directors, effective January 01, 2024. She takes over from outgoing co-chairman, Premalal Brahmanage, who has stepped down from the role after nearly 03 years of dedicated service since the Initial Public offering in 2021.

Sandamini Perera, the co-founder of Prime Group, has served as the Executive Director of Prime Lands Residencies PLC since 2005, concurrently holding the position of co-chairperson. Apart from her role there, she also holds director positions in several other companies. With over 27 years of experience in the real estate industry, Sandamini Perera brings exceptional leadership expertise as she steps into her new role. She has been instrumental in the Company’s tremendous growth over the past two decades to become Sri Lanka’s leading real estate developer.

An entrepreneur and business strategist by profession, Sandamini Perera holds an MSc. in Strategic Marketing and is a member of the Sri Lanka Institute of Marketing. She has received many accolades, including being named one of Sri Lanka’s Most Powerful Businesswomen in 2013 and Best Women Entrepreneur for 2014/2015. She was also awarded the ‘Honoured Leaders Excellence Award’ for excellence in women’s empowerment from World Consulting and Research Corporation, New Delhi.

On assuming the role as Chairperson, Sandamini Perera said, “Embracing global real estate trends, we pioneered the revolutionary ‘Prime 1% Plan’, which enabled everyone to own a home or a land that they

desired. In our relentless pursuit of success, we are unwaveringly dedicated to turning the aspirations of our valued clients into reality. I am proud to be part of these transformative initiatives and look forward to leading more exciting ventures for our clients.” Sandamini added, “I sincerely thank Premalal Brahmanage for his visionary leadership over the years and look forward to building on the strong foundation. I appreciate the trust placed in me and eagerly anticipate the journey ahead.”

Premalal Brahmanage’s invaluable service and dedication as co-chairman over the past two decades has been instrumental in guiding the strategic vision of the company. Under his exceptional leadership and stewardship, Prime Lands Residencies PLC experienced monumental expansion to become the Nation’s Premier Real Estate Developer.

After resigning as co-chairman, Premalal Brahmanage will continue to serve the company as an Executive Director. The Board of Directors expressed gratitude to Premalal Brahmanage for his invaluable contributions and wishes him the very best in his continued role as an Executive Director. It also conveyed full confidence in Sandamini Perera to take Prime Lands Residencies PLC to greater heights in line with its strategic vision and plans for the future. As Prime Lands Residencies PLC continues its legacy as the market leader, the announcement of change in leadership will thrive the company towards continued growth.

 



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Business

Ceylinco Life agent among three global finalists for award

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Ceylinco Life’s Ambalantota branch agent AIP Manjula

Ceylinco Life’s Ambalantota branch agent AIP Manjula has been named one of three global finalists for the prestigious Insurance Agent of the Year award at the 11th Asia Trusted Life Agents & Advisers Awards (ATLAA) 2026.

The recognition places a Sri Lankan insurance professional among the finalists in a regional field spanning South Asia, Southeast Asia, East Asia and the wider Asia-Pacific region.

Ceylinco Life said the achievement reflected the calibre and customer-focused approach of its agency force, while recognising Manjula’s professionalism and commitment to policyholders.

The award evaluates insurance agents on criteria extending beyond sales performance, including ethical conduct, client service, policy persistency, digital adoption, innovative practices and contributions to the insurance industry and community.

The awards are organised by Asia Advisers Network and Asia Insurance Review, with LIMRA as co-organiser. An independent judging and balloting process is monitored by KPMG as the official scrutineer. The judging panel comprises senior insurance executives, association presidents and industry experts from across the Asia-Pacific region.

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CEAT Kelani retains AA+ rating for sixth year

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CEAT Kelani Holdings (CKH) has retained its National Long-Term Rating of ‘AA+(lka)’ with a Stable Outlook from Fitch Ratings for the sixth consecutive year, reflecting the company’s financial resilience and leading position in Sri Lanka’s pneumatic tyre market.

The ‘AA+(lka)’ rating, the second-highest on Fitch’s national scale, indicates a very strong capacity to meet financial commitments.

Fitch said CKH’s established market leadership and resilient financial profile remained key strengths, while noting its exposure to price-sensitive, cyclical and highly competitive markets.

The Stable Outlook reflects expectations that the company will maintain its market position despite rising input costs and increasing competition from imported tyres, while preserving adequate credit metrics during periods of weaker earnings and higher investment.

Fitch expects CKH’s established brand, extensive dealer network and adaptive pricing strategies to support its market position. Planned production facility upgrades are also expected to improve product quality, particularly in the radial tyre segment.

The rating agency expects near-term pressure on margins from higher raw material and energy costs but said the company’s low leverage and sound liquidity would provide a cushion.

CKH Chairman Chanaka De Silva said the rating reinforced the company’s focus on disciplined financial management, operational adaptability and long-term investment.

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Commercial Bank leads nationwide aquatic clean-up drive

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Sanath Manatunge, Managing Director/CEO of Commercial Bank and some of the Bank’s staff participating in the coastal cleanup programme

Commercial Bank of Ceylon mobilised employees, customers, volunteers and community members for a nationwide coastal and aquatic clean-up campaign across 20 locations on September 19 to mark International Coastal Cleanup Day 2026.

Conducted under the bank’s sustainability platform, themed ‘Forward Together for a Cleaner Future’, the initiative covered 16 coastal locations and four inland waterways, bringing together stakeholders for a coordinated environmental conservation effort.

The flagship programme was held at Mount Lavinia Beach, with additional activities at Wellawatte and Galle Face beaches. Similar initiatives were conducted by the bank’s regional offices at locations including Kalutara, Negombo, Trincomalee, Batticaloa, Puttalam, Jaffna, Galle, Dondra, Tangalle and along the Mahaweli River.

Employees, management, Future Force volunteers, customers and their families participated alongside the Marine Environment Protection Authority (MEPA), United Nations Global Compact Network Sri Lanka, government and local authorities, environmental organisations and community members.

The bank said the initiative reflected its commitment to water stewardship after adopting Sustainable Development Goal 6 — Clean Water and Sanitation — as a priority goal in 2025.

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