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Prof. EOE Pereira’s legacy to the nation

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Prof. EOE Pereira

(Excerpted from a speech made last week by his son, Lorenz Pereira, MA, Cambridge, at the Engineering Faculty of the University of Peradeniya)

My father would want me to humbly express his gratitude, appreciation and sincere thanks for this magnanimous gesture by the Dean, Faculty of Engineering, Dr Udaya Dissanayake, professors, staff and students for inviting me and my wife here today to speak a few words about him. It’s a privilege and honor that I will forever cherish.

I remember very well walking these grounds with my father and other pioneers many times during the early construction days of the campus. They worked hard despite obstacles to establish this Faculty of Engineering at Peradeniya. Today standing here among you, I feel extremely emotional and sentimental. Please forgive me if I ramble incoherently.

My father would be delighted that I have been able to sneak in through the back door and, at long last, rub shoulders and be part of this elite engineering fraternity in this country, even for a brief moment.

To the young engineers here, I say you will be playing a key role in shaping our world for the next 50 years and beyond. Engineers are the architects of progress, the innovators who push the boundaries of what is possible, and the visionaries who transform ideas into reality. As we stand at the cusp of a new era of technological advancements and societal changes, engineers are at the cutting edge, leading the way in shaping the future of our world.

In the coming decades, engineers will be instrumental in addressing some of the most pressing challenges facing humanity, from climate change and sustainable energy solutions to advancement in healthcare and transportation. With their expertise, creativity, and problem-solving skills, engineers are at the forefront of developing innovative solutions that will shape the way we live, work, and interact with each other.

As we look to the future, it is clear that engineers have a critical role to play in building a more sustainable, equitable, and prosperous world for all. By harnessing the power of technology, embracing creativity and collaboration, and upholding the highest standards of ethics and integrity, engineers have the opportunity to make a lasting impact on society and leave a legacy that will endure for generations to come.

So, to all the engineers out there, I urge you to embrace the challenges and opportunities that lie ahead, to push the boundaries of what is possible, and to lead with passion, purpose, and integrity. The future is in your hands, and it is up to you to shape a world that is brighter, more innovative, and more sustainable for all.

Turning to my father, for the benefit of those who never met him, it is easy to talk about him for he was a very simple man, uncomplicated in the way he lived his life. I feel the best way to portray some of his qualities is by relating a relevant anecdote from his Cambridge days.

My father had one great disappointment in his life. It was the pain and emotional trauma that followed when he left this Faculty of Engineering and his beloved students to become Vice Chancellor of the University of Peradeniya. He refused to accept the post on many occasions until one Sunday morning there was a knock on the front door of his bungalow at Peradeniya that changed his life thereafter.

Before I tell you why, let me relate a yarn about his time at Cambridge involving his friend Dudley Senanayake, later to become Prime Minister of Ceylon. Dudley and he were was stopped by the police whilst cycling, without lights at night. As Dudley was to later relate, the policeman had Dudley’s front wheel between his knees and his hands firmly on the handle bar. EOE made a break for it.

“What is your friend’s name?,” the cop asked. “I can’t tell you that,” Dudley answered without blinking an eye. “But my name is EOE Pereira, from Downing College”. The next day, two policemen appeared at my dad’s door and issued him a fine.

That, of course was an undergrad prank with absolutely no malice and a formidable foundation for an intimate life-long friendship between my father and Dudley Senanayake was laid at Cambridge.

Back to the knock on the front door. It was the Prime Minister of Ceylon, the Hon. Dudley Senanayake, who had come unannounced to persuade his old friend to accept the post of Vice Chancellor of the Peradeniya University “for the sake of the country.” My father finally accepted under much pressure, making a decision that he regretted and haunted him for the rest of his life.

The all-consuming passion of his life was, of course, teaching, not administration. He relished the dynamics of teaching and that magical chemistry of interaction between his students and himself. He was not a one-eyed single focused teacher, but an educator in the broad sense. He did not attempt to impose his ideas on others, but valued and without prejudice assessed another’s point of view. He never humiliated anyone due to their ignorance on any issue. For him teaching was a two-way process – to impart knowledge and to acquire knowledge.

I would not be standing here today, if the consideration of financial wealth was of any importance to my father. During the early stages of the emerging new Faculty of Engineering being built, Prime Minister Lee Kuan Yew of Singapore visited Ceylon to study the highly successful socio-economic model in operation, and visited the new University of Ceylon in Peradeniya. He also visited the Faculty of Engineering then being built and was so impressed that he took my father aside and offered him an exceptional lucrative financial package to come over to Singapore and do the same.

In a most polite and humble manner Dad declined the generous offer of a “pot of gold” stating that he still has unfinished business at Peradeniya. He always believed that his “wealth” was not in the accumulation of financial assets, but in the investment in his students.

There was this other instance, where a blind student girl in one of the Halls of Residence became unfortunately pregnant by her boyfriend, also a student and also blind. The hall warden insisted on removing her from the hall and sending her in disgrace back to her village.

On hearing of the plight of this young rural student, my parents immediately drove to the hall, met the warden and ascertained the facts of the case. As a result, this unfortunate girl was invited to live with them at the Vice-Chancellor’s Lodge until an appropriate time to leave arrived. to leave. This humanitarian act by my parents possibly saved the lives of the young couple and set them on a proper course in life including a happy marriage.

The last few years of my father’s life was unpleasant in many ways, particularly having to cope with much continuous physical pain. He underwent a hip operation that was a total failure, resulting in a wound that never healed and confined him to a wheel-chair. Financially his only source of income was his meagre pension which barely sustained his family’s basic needs.

On hearing of my Father’s plight, President J R Jayawardene sent a Personal Assistant to visit my father. He was seated in his wheel-chair in the front verandah with his beloved pipe in his mouth. The official handed my father an envelope. He opened it, looked at what was inside and not showing any emotion closed the envelope and returned it to the official.

The President had sent dad a most generous cheque for one million rupees which was a substantial amount at that time. He said: “Please convey my sincere thanks to the president for his generosity that I highly value and appreciate. But, I am afraid that I am unable to accept money I have not earned.” When my mother later found out, she was furious.

The two great loves of my father’s life were his family and the Faculty of Engineering, and not necessarily in that order. As a father, he provided us with a home full of caring, love and encouragement at all times despite his three sons, letting him down badly in one not becoming an engineer. I, in particular, focused on sport a the expense of my studies. Many years after my father’s passing, I met Prof. Mahalingam when I visited the faculty. He came up to me and said, “you know Lorenz you thought that you were fooling your father pretending to study. Every time he passed you at your desk, the page was the same and often the book was upside down”. But Dad, never pulled me up, embarrassed or humiliated me. That was the essence of his character.

His bad habit was his pipe which was literally glued to his mouth and became an unmistakable additional feature sculpted on his face. All the titles he received, including the Vidya Jyothi, the road opposite the Engineering Faculty at Peradeniya being named after him, Prime Minister Lee Kuan Yew’s glowing reference to him in his autobiography etc. would have rested lightly on his shoulders.

Finally, and most importantly, what was his single most outstanding legacy? Some might say it was his contribution to establishing the Faculty of Engineering; also it may be said it was his overall contribution to education in Sri Lanka; others might say it was his human attributes of love, caring and kindness, or his total disinterest in seeking personal recognition and wealth.

To me it is none of the above. I have thought about it a lot, mainly in search of a lasting light to guide my own future. I did finally find that light. His entire life, at every level and on every possible occasion, was dedicated solely to ADDING VALUE TO THE LIVES OF OTHERS.

I leave you with that blessing from my father.



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New policy framework for stock market deposits seen as a boon for companies

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Eardly Kern: ‘CSE experiencing strong revival

The government’s new policy framework to allocate a maximum interest rate for stock market deposits would pave the way for companies and investors to plan their future business activities, a senior stockbroker said.

‘Accordingly, the Colombo Stock Exchange (CSE) has entered a period of strong revival, supported by economic stabilization and rising investor confidence while significant market reforms would support the new policy framework on interest, Assistant Vice President Softlogic Stockbrokers, Eardly Kern, told The Island Financial Review.

He said that the imposition of maximum interest rates for stock market deposits would prevent the interest rates from moving upwards, thus paving the way for investors to invest in stocks with a lot of confidence.

Kern added: ‘The CSE outlook would provide expanding opportunities for investors as Sri Lanka positions itself for market-led investor platforms.

‘Improving macro fundamentals, such as lower interest rates, rising corporate earnings and historically attractive valuations, have been key catalysts in driving investment into the equities market.

‘These tailwinds, together with ongoing economic reforms, have helped re-establish confidence among both local and foreign investors.

‘Over the past two years, the number of CDS accounts has surpassed 949,000, with digital on-boarding through the CSE mobile app driving the latest surge.

‘Further, foreign inflows for 2024 amounted to USD 66.5 million, while Rs 175 billion was raised through capital market activity, including 16 new listings. With a target of 20 IPOs on the horizon, the CSE anticipates several new companies entering the market by early 2026.

‘The All Share Price Index (ASPI) delivered an impressive 49.7 percent return in 2024, ranking the CSE as the second-best performing market in Asia for the year. By November 2025, the index had risen a further 45.65 percent amounting to an extraordinary two-year return of approximately 95 percent.

‘The S&P SL20 Index recorded a parallel recovery, gaining 58.5 percent in 2024 and 31.84 percent so far in 2025.

‘ Despite the rally, the CSE continues to trade below its 10-year average PER and valuations remain significantly more attractive than in regional markets, such as, India, Malaysia, Vietnam, and China.

‘ Turnover has surged to Rs 1.06 trillion in 2025 (as of mid-November), nearly doubling the figure recorded in 2024. Market capitalization grew 34 percent n 2024, despite only around 40,000 active investors capturing most of the gains—highlighting the potential for broader participation.

‘ Corporate earnings have also strengthened markedly. After generating Rs 686 billion in earnings during 2024—a 50% year-on-year increase—listed entities are projected to deliver between Rs 775–800 billion in 2025. Earnings for the first half of 2025 have already grown 57 percent year-on-year.’

By Hiran H Senewiratne

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Dialog reinforces commitment to heritage through Kelaniya Duruthu Festival

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Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider, has reinforced its enduring commitment to preserving national culture by sponsoring the Kelaniya Duruthu Festival, aligning long standing patronage with purposeful community engagement to honour religious heritage, support cultural continuity, and strengthen shared values.

The annual Kelaniya Duruthu Festival, one of Sri Lanka’s most significant religious and cultural observances, was held on 8th, 9th and 11th January 2026, marking a congregation of thousands of devotees and visitors at the historic Kelaniya Raja Maha Vihara. As a long-term patron, Dialog continues to provide sponsorship support, enabling the seamless organisation of the festival while uplifting traditions deeply rooted in the nation’s cultural identity.

Through its continued support of the Kelaniya Duruthu Festival, Dialog underscores its role as a responsible corporate citizen dedicated to safeguarding Sri Lanka’s cultural and religious heritage for future generations. This commitment is further reflected in Dialog’s long-term patronage of national events such as the Kandy Esala Perahara, Nawam Maha Perahara at Gangaramaya, Katharagama Esala Perahara and Gatabaru Esala Perahara. Complementing these efforts, Dialog has also undertaken heritage preservation initiatives including the construction of the vestibule at Dimbulagala Aranya Senasanaya, the launch of a website and directory of Amarapura Maha Nikaya Temples, and the restoration of the Anuradhapura Maha Vihara Sannipatha Shalawa.

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Sri Lanka launches its first-ever Smart Bus Ticketing System

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Advancing public transport with digital bus ticketing — CBA, in partnership with SLTB and Nimbus Venture.

A National Breakthrough in Public Transport Digitalization Powered by Ceylon Business Appliances with Nimbus Ventures.

Sri Lanka has taken a historic step forward with the launch of its first Smart Bus Ticketing System, enabling passengers to pay fares using contactless cards, digital wallets, and QR payments. This advancement places the country among global leaders in smart mobility.

The initiative was made possible through collaboration with the Government of Sri Lanka, leading banking partners, and the technology leadership of Ceylon Business Appliances (CBA) and Nimbus Ventures, who serve as the Technology, Software, Hardware, and Operational Partners behind the nation’s first Open Loop Transit Payment System.

For decades, CBA has been at the forefront of Sri Lanka’s digital transformation efforts—bringing modern, global-standard technologies that have strengthened the nation’s digital infrastructure.

Speaking to the media at the launch, Sardha Fernando, Managing Director of CBA, stated:

“This is not just a ticketing upgrade—it is a complete digital evolution of public transport in Sri Lanka. For years, CBA has been committed to introducing advanced technologies to the country, and today, we are proud to bring a globally recognized, secure, and seamless smart transit solution to our people. With every tap, we are enabling convenience, transparency, and a more connected future for all Sri Lankans.”

He added:

“This milestone reflects our ongoing mission: to help build a digitally empowered Sri Lanka that is ready to embrace the technologies shaping the world.”

‘Ruwath Fernando, CEO/Director of CBA, highlighted:

“This project demonstrates that Sri Lanka is ready to adopt and operate on par with global smart mobility technologies. Our commitment has always been to bring the world’s best software systems and innovations into Sri Lanka—solutions that are secure, scalable, and built to international standards.”

He continued:

“By introducing a state-of-the-art open-loop transit payment platform, we are proving that Sri Lanka can not only embrace but also successfully operate advanced digital ecosystems. This is a defining moment in positioning the country as a technology-proof nation prepared to trial and adopt global digital advancements.”

CBA extends heartfelt congratulations to the banking partners who trusted this vision—

Sampath Bank, Commercial Bank, Bank of Ceylon, People’s Bank, and DFCC Bank— on the successful launch of their new ticketing application.

This application integrates seamlessly with the PAX A910S ticketing device, powered by a robust CBA– Nimbus ventures software solution, engineered for scale, reliability, and national deployment..

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