Business

Raymond Paranavitharne: ‘A lovely human’

Published

5 years ago

2020/11/3

It was on October 20 that I received the sad news from Romesh that his dad Mr. Raymond Paranavitharne had passed away in Melbourne that morning after a brief illness.I was to say the least, very saddened at hearing this news. It took me sometime to comprehend what he told me. That I will not see Raymond Paranavitharne again.

This sad news brought back to me, a flood of pleasant memories of the man I knew and admired. Gentlemen of the calibre of Mr. Paranavitharne are fast diminishing in the present day world.I first came to know Mr. Paranavitharne in 1985 when we went on army training to Minneriya at the height of the LTTE war as a part of what became known as the Sri Lanka Rifle Corp.(SLRC) SLRC comprised of planters and senior regional administrators of the Janatha Estates Development Board (JEDB) and Sri Lanka State Plantations Corporation (SLSPC). Mr Paranavitharne was at that time regional chairman of the SLSPC Nuwaraeliya region, which comprised of several well-known estates and had been a senior planter himself, before being elevated as a senior administrator.

We were the first batch of planters and administrators who were sent for this training which was the brainchild of the late General Ranjan Wijeratne to somewhat protect the estate regions. This batch of around 30 of us, ranged from those who were in their early 30’s like me to those in their 50’s like Mr. Paranavitharne. He was probably around 50 years of age like some of the other regional chairmen and directors. The group comprised of at least 5 senior chairmen, several regional directors and few estate superintendents (managers). Army training was tough and gruelling to say the least. Rank and position in the plantation world did not matter to them and all were treated equally. It was here that I first experienced the amazing characteristics of Mr. Paranavitharne.

When some of us were complaining and being remorseful of the army training, he took it in his stride, never complained, and did what was expected of him in the right spirit. The hallmark of a true leader. I admired Mr. Paranavitharne’s spirit and his courage. It was much later that I realised that his strong character was due to the Godly spirit that he carried which I experienced more in later years.During our training period, some of us younger members enjoyed pulling pranks on a few seniors in the camp occasionally and they were not always amused. Mr. Paranavitharne stood up for us and sometimes joined in the fun too. It was during this period that I realised the respect that many had for this mild-mannered gentleman who up to that time I only knew as a senior regional chairman. From then on, I had the privilege of getting to know him and kept in touch, despite our vast difference in status. I was just a young estate manager and he a senior regional chairman and administrator.Thereafter he was elevated to the no 2 position at the SLSPC Central Board in Colombo. A very prestigious and important role at that time in the late 1980’s.

I also got to know that he tried to recommend me to a senior administrator’s position at the head office during this period, which of course did not materialize despite his efforts. However, we kept in close touch, and exchanged many ideas and views about introducing new thinking to the plantation industry during this period. Unfortunately, due to an unfair decision as a result of Mr. Paranavitharne standing firm to his principles, he resigned from this position at the SLSPC around 1989 with courage and dignity. He then took up a very interesting role in a BOI venture until he migrated to Australia.His life is a great example to me. Several are the lessons I learnt from him. One was never to let success hit your head. Another was never to complain but to have the inner strength to cope with any situation. For this characteristic, I realised you needed to have that connection with your creator, which I know he had in full measure.

The other great quality I saw in him was how he accepted the high’s and the lows in life, all in the same kind of spirt. These are qualities that education or money could never buy, however much we strive. This is definitely the grace of God on Mr. Paranavitharne’s life. He was a man who was not only highly respected but well-loved too. Wherever he worked, he always walked with his head held high, and earned the respect and confidence not only of his superiors, but also his peers and subordinates. While he held many prestigious positions, he held each position with pride and dignity.

My wife and I have been blessed to keep in touch with him and his precious wife Dharshini even after they migrated. He always never failed to give us a call when he came to Sri Lanka and we would catch up on old times. We also had the privilege of being invited to their home in Melbourne in April 2019. Something that I cannot still get over is how he got up from his chair and made the cup of tea for my wife Lorinda and my sister in law, much to our embarrassment. That was the man I knew and will always respect. I last spoke to him over the phone around 3 months ago and had a long conversation and he reminded me once again that we must visit his home on our next visit to Melbourne. This was not to be, and it saddens me that we won’t be seeing this wonderful gentleman anymore.

We feel extremely blessed to have known him, as he was a great inspiration to us. Whenever we met him, he always made us feel so wanted. He had this amazing quality of recognizing and admiring others’ achievements, which is a characteristic of a great leader. His pride and joy, apart from his dear wife Dharshini who has stood tall and strong beside him all these long years, are his three precious children, Manique, Romesh and Samantha.However, in the recent past I found that his pride and joy had embraced his grandchildren too. I recall him telling us how he tries to find ways to entertain and amuse them. It is sad that his grandchildren may not know too much of who and what their Grandpa was. However,

I have no doubt that by now they would have seen and experienced his qualities of humility, patience and love. I cannot call him my friend as that’s not what he was to me. He was more than a friend. A lovely human being and a gentleman to the end. We will truly miss him. In conclusion I know for sure that his life truly reflects the words of the psalmist in psalm 37:23 which says, “The steps of a good man are ordered and established by the Lord and he delights in his ways.” That was his life’s journey.May his soul Rest in Peace in the arms of his creator whom he loved.

– Rohan Fernando

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Business

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

Published

22 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

22 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

22 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