Business

Prof. EOE Pereira’s legacy to the nation

Published

1 year ago

2024/08/25

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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Business

GREAT 2025–2030: Sri Lanka’s Green ambition meets a grid reality check

Published

13 hours ago

2026/02/7

Thilina Walpola

Sri Lanka’s Renewable Energy Project Development Plan, branded GREAT 2025–2030 (Green Energy Acceleration Targets), reads like a confident pivot toward a cleaner, cheaper power system. With more than 2,600 MW of new renewable capacity planned—dominated by solar and wind—and a strong push on storage and grid stabilisation, the strategy signals intent. Yet beneath the headline numbers lies a harder business truth: generation is racing ahead of the grid, and unless infrastructure and control catch up fast, value will leak from an otherwise compelling transition.

At the core of GREAT is scale. Solar leads with 1,571 MW across multiple zones, while wind contributes 1,004 MW, primarily from Mannar, Kilinochchi and the North-Western belt.

Smaller but steady additions are planned in mini-hydro (51 MW) and biomass (38 MW). On paper, the mix lowers marginal costs, cuts imports, and insulates the economy from fuel price shocks—outcomes financiers and policymakers both welcome.

But a senior retired electrical engineer, who spent decades inside Sri Lanka’s power system, cautions that capacity alone doesn’t create reliability—or returns.

“We are adding megawatts faster than we are adding visibility and control,” he said. “Rooftop solar has already exceeded 1,350 MW, much of it invisible to operators. From a grid perspective, that is unmanaged generation, and unmanaged generation is risk.”

The business implications are immediate. Transmission bottlenecks, particularly delays in 220 kV and 400 kV lines, are constraining renewable evacuation. Projects commissioned on time can still face curtailment, eroding project IRRs and shaking investor confidence.

At the same time, electricity demand has softened amid economic pressures, compressing the system’s ability to absorb intermittent power—especially on Sundays and holidays, when demand dips but solar output peaks.

“Low demand days are now the stress test,” the engineer noted. “Without storage and grid-forming assets, you’re forced to back down renewables or keep thermal units running for stability. Both options cost money.”

GREAT attempts to address this with 650 MW / 2,250 MWh of Battery Energy Storage Systems (BESS) and 600 MW of pumped storage at Maha Oya by 2034, alongside synchronous condensers to maintain inertia. These are not optional add-ons; they are value enablers. Storage smooths volatility, captures excess midday solar, and shifts energy to peak hours—turning stranded electrons into bankable revenue.

Yet timing matters. Storage, controls, and transmission must arrive before or with new generation. Otherwise, developers face curtailment risk, lenders price in uncertainty, and tariffs fail to fall as promised.

The plan’s institutional fixes are equally commercial. A Renewable Energy Control Desk (from 2026), Distribution Control Centers in high rooftop solar areas, smart meter mandates, and grid digitalisation are designed to restore operational visibility. Time-of-use tariffs, paired with daytime EV charging and industrial load-shifting, aim to reshape demand—turning a system problem into a market opportunity.

“Tariffs are signals,” the engineer said. “If you want power used at noon, price it right. If EVs and factories move load to the day, solar becomes an asset, not a headache.”

For investors, the message is nuanced but clear. Sri Lanka’s renewable pipeline is real and sizeable.

The policy direction favours clean energy, and the cost curve is attractive. However, project bankability will increasingly hinge on grid-readiness—access to storage, firm evacuation paths, and participation in smart, controllable networks.

For policymakers, GREAT’s success will be measured not by megawatts announced, but by megawatt-hours delivered reliably and profitably. Accelerating transmission approvals, fast-tracking BESS procurement, and enforcing smart metering for distributed generation are the difference between a virtuous transition and a congested one.

“The transition is inevitable,” the engineer concluded.

“The question is whether we do it cheaply and safely, or pay twice—once for generation, and again for the fixes we delayed.”

GREAT 2025–2030 sets Sri Lanka on the right path. The business case now depends on execution—where grids, markets, and management must move at the same speed as ambition, he added.

By Ifham Nizam

Business

Zone24x7 enters 2026 with strong momentum, reinforcing its role as an enterprise AI and automation partner

Published

13 hours ago

2026/02/7

Thilina Walpola

Zone24x7 team

Zone24x7 concluded 2025 with significant industry recognition, securing seven awards across three leading technology competitions—marking one of the strongest years in the company’s 22-year journey. The awards recognized the Industrial Vending Machine solution developed for a client in Australia. It earned both national and regional honors, including Second Runner-up at the Asia Pacific ICT Alliance (APICTA) Awards 2025.

More than accolades, the recognition showcases Zone24x7’s ability to deliver practical, enterprise-ready solutions that create measurable business impact. Competing against leading technology companies across the Asia Pacific region, the wins highlight the company’s growing global footprint and its focus on translating innovation into operational value for customers.

Neschae Fernando, CEO of Zone24x7

Zone24x7’s award run began at the SLASSCOM National Ingenuity Awards 2025, where the company secured National Winner for Best Innovative Product in Manufacturing, National 1st Runner-up for Best Innovative Product (General), and two Provincial Winner titles in the Western Province. This success continued at the National ICT Awards (NBQSA 2025), with Gold in Manufacturing, Engineering & Construction, and the IoT Technology of the Year Award.

“2025 validated our approach of building technology around real business needs,” said Neschae Fernando, CEO of Zone24x7. “As we move into 2026, our focus is on helping enterprises improve productivity, visibility, and decision-making by applying AI, automation, and connected systems in ways that go far beyond standalone tools or chat-based solutions.”

Headquartered in the United States with a world-class technology hub in Sri Lanka, Zone24x7 serves over 50 enterprise customers across multiple industries. The company specializes in integrating artificial intelligence, IoT, and enterprise platforms to solve complex operational challenges at scale.

Its portfolio includes Generative AI capabilities that enhance workflows, system intelligence, and human productivity; AI-powered automation platforms that connect digital and physical data sources; and a Cognitive Vision Analytics Platform that delivers real-time insights from video and image data. In addition, Zone24x7 provides RFID-enabled solutions and Warehouse Management Systems that improve inventory accuracy, asset visibility, and supply chain performance.

“The value we bring lies in how we combine hardware, software, and AI into cohesive solutions that fit seamlessly into existing enterprise environments,” said Vipula Liyanaarachchi, General Manager at Zone24x7. “As organisations look ahead to 2026, we are focused on helping them scale efficiently, modernise operations, and unlock greater value from their data without disruption.”

The award-winning Industrial Vending Machine reflects this approach, integrating IoT hardware, intelligent software, and analytics to automate inventory control and enhance efficiency in manufacturing and industrial settings. Rather than being a standalone product, it demonstrates how Zone24x7 partners with clients to design solutions aligned to specific operational goals.

With more than two decades of experience and a strong research and development foundation, Zone24x7 is now investing further in advanced AI-driven automation, intelligent analytics, and system-agnostic architectures. As businesses navigate rapid technological change, the company is positioning itself as a long-term partner—helping enterprises adopt AI responsibly, enhance workforce productivity, and build resilient operations into 2026 and beyond.

Business

India’s Mazagon Dock Shipbuilders makes mandatory offer to buy remaining shares of Colombo Dockyard

Published

13 hours ago

2026/02/7

Thilina Walpola

India’s Mazagon Dock Shipbuilders Limited has made a mandatory offer to buy the remaining shares of Colombo Dockyard at Rs 40 each, following a 41.73 percent stake acquisition last month.The mandatory offer targets 58.27 percent of the company.

At the recent rights issue, Mazagon Dock Shipbuilders bought 164,916,229 ordinary shares of Colombo Dockyard from the unsubscribed rights entitlement of previous stakeholder Onomichi Dockyard Company.

Mazagon paid Rs 40 per share amounting to a total Rs 6,596,649,160 .

Both indices moved upwards. The All Share Price Index went up by 67.5 points, while the S and P SL20 rose by 23.57 points. Turnover stood at Rs 9.1 billion with 16 crossings.

Top seven crossings were reported as follows: Commercial Bank 9.7 million shares crossed to the tune of Rs 1.2 billion and its shares traded at Rs 224.50, TJ Lanka 14.3 million shares crossed to the tune of Rs 549.7 million; its shares sold at Rs 38.50, Renuka Hotels one million shares crossed to the tune of Rs 250 million; its shares sold at Rs 250, Melstacorp one million shares crossed to the tune of Rs 178 million; its shares fetched Rs 179, Sampath Bank 930,000 shares crossed for Rs 145 million and its shares traded at Rs 150, Sierra Cables two million shares crossed for Rs 74 million; its shares sold at Rs 37 and Lanka Milk Food one million shares crossed for Rs 71 million; its shares fetched Rs 71.

In the retail market companies that mainly contributed to the turnover were; Colombo Dockyard Rs 514 million (3.3 million shares traded), Ceylon Land Equity Rs 349 million (15.6 million shares traded), Sierra Cables Rs 339 million (1.4 million shares traded), Commercial Bank Rs 307 million (1.4 million shares traded), TJ Lanka Rs 247 million (6.5 million shares traded), Luminex Rs 232 million (19.6 million shares traded) and Renuka Foods Rs 180 million (11 million shares traded). During the day 311 million share volumes changed hands in 50661 transactions.

It is said that the market showed mixed reactions. The banking sector actively participated, especially Commercial Bank. The manufacturing sector also performed well.

Yesterday the rupee was quoted at Rs 309.30/40 to the US dollar in the spot market, stronger from Rs 309.45/50 the previous day, while bond yields continued to edge lower on the the mid- to long end of the yield curve, dealers said.

A bond maturing on 15.06.2029 was quoted at 9.45/50 percent.

A bond maturing on 15.09.2029 was quoted at 9.50/55 percent.

A bond maturing on 15.12.2029 was quoted at 9.52/58 percent, down from 9.55/60 percent.

A bond maturing on 01.07.2030 was quoted at 9.68/71 percent.

A bond maturing on 01.10.2032 was quoted at 10.21/24 percent, down from 10.23/25 percent.

A bond maturing on 01.06.2033 was quoted at 10.55/60 percent, down from 10.57/60 percent.

A bond maturing on 15.06.2034 was quoted at 10.77/80 percent.

A bond maturing on 15.06.2035 was quoted at 10.80/86 percent, down from 10.82/87 percent

By Hiran H Senewiratne