Business
SEC, CSE enlighten listed companies on new Securities and Exchange Commission Act
The Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) organised a symposium on 6th December 2021 to enlighten senior officials of listed companies on the features of the new Securities and Exchange Commission Act No. 19 of 2021.
SEC Chairman Viraj Dayaratne PC delivered the keynote address with a presentation featuring the salient aspects of the new SEC Act particularly in relation to listed public companies. He focused on Part III of the Act which particularly deals with ‘Issue of Securities’ and elaborated on the duties and obligations of listed public companies. It was stated that provisions with regards to the public offer of securities had been introduced to ensure accountability of funds solicited from the public. Speaking further on issue of securities, he spoke about the ability of the Commission to issue stop orders preventing an issuer from allotting, issuing, offering or making an invitation to subscribe or purchase or sell further securities relating to public offers in situations where the Prospectus contains a statement or information that is false or misleading. Another change that has been introduced was the expansion of the interpretation to the term ‘relation’ to include step children, step brother and step sister that becomes applicable in situations where securities are gifted.
The Chairman went on to brief the audience on obligations pertaining to public disclosures to be made by listed public companies and highlighted the requirement for Directors of such companies to comply with fit and proper criteria specified by the Commission by way of its rules or the rules of an Exchange approved by the Commission. In addition, he also touched on the specific duties of an auditor of a listed public company.
In his keynote delivery Dayaratne also spoke about the main market offences and in particular Insider Trading and the criminal as well as civil proceedings that can be instituted. The various checks and balances on the powers and discretion of the Commission were also discussed. In conclusion, the Chairman emphasized that the companies need to embrace good corporate governance practices and thereby protect the interests of investors and ultimately to maintain a level playing field and ensure confidence in our capital market. He also noted that if companies function with self regulation and act in compliance with the law, most provisions contained in the new SEC Act will have little bearing.
The Keynote address was followed by a lively panel discussion moderated by Rajeeva Bandaranaike, CEO -CSE where Manil Jayesinghe, Commission Member, SEC, Chinthaka Mendis, Director General, SEC, Dumith Fernando, Chairman CSE, Renuke Wijayawardhane, Chief Regulatory Officer, CSE, Krishan Balendra, Chairman, JKH PLC, Dr. Hans Wijayasuriya, CEO,-Telecommunications Axiata Group, Dr. Harsha Cabral PC, Chairman Tokyo Cement PLC, Asite Talwatte, Chairman –Integrated Reporting Council, Faizal Salieh, Chairman, Sri Lanka Institute of Directors and Dr. Harshana Suriyapperuma, Director –SEC SL shared their perspectives on the new SEC Act.
Business
SLT-MOBITEL driving Sri Lanka’s economic resilience through digital infrastructure
Corporate accolades underscore the alignment between its operational excellence and national development
In an era where national competitiveness is intrinsically tied to digital connectivity, strengthening the country’s digital backbone has become an urgent priority. Within this context, the evolving role of Sri Lanka’s leading telecommunications provider, SLT-MOBITEL, offers valuable insight into how technological infrastructure can underpin broader economic resilience.
Telecommunications and digital networks are foundational to economic transformation. By expanding high-speed broadband access, upgrading enterprise cloud capabilities, and bridging the urban-rural connectivity divide, SLT-MOBITEL helps reduce business transaction costs, streamline supply chains, and enable micro, small, and medium enterprises to reach global markets.
Recent corporate accolades further underscore this alignment between operational excellence and national development. SLT-MOBITEL’s triple triumph at the National Business Excellence Awards 2026 – winning in the Infrastructure and Utilities sector, Performance Management, and ICT Services categories – highlights its growing impact. Notably, the recognition of eChannelling’s contributions to digital healthcare reflects a broader strategic pivot toward integrated technology solutions.
“Institutional efficiency of this nature is critical for attracting foreign direct investment, as global partners increasingly assess a country’s digital maturity and systemic stability before committing capital,” noted industry observers.
Moreover, the company’s transition from a conventional telecom utility to a comprehensive digital solutions provider aligns seamlessly with Sri Lanka’s national digitalisation agenda. As the country pursues public sector modernisation, enhanced e-governance, and a competitive knowledge economy, the private sector must step up to deliver secure, scalable, and future-ready networks. Investments in data centres, cybersecurity frameworks, and advanced ICT infrastructure act as strategic buffers, ensuring that Sri Lanka’s economic apparatus remains agile and resilient amid future global uncertainties.
However, industry experts caution that while these achievements are commendable, SLT-MOBITEL still has a considerable distance to cover in fully enabling a truly digital economy.
Business
Port City Colombo strengthens Gulf investment ties at Dubai diplomatic engagement
Port City Colombo (PCC) took a prominent role as Platinum Sponsor at the second edition of Sri Lanka Beyond Your Dreams, a high-level diplomatic and investment engagement hosted by the Consulate General of Sri Lanka in Dubai and the Northern Emirates. The event, held on 2nd September 2026 at the Hilton Dubai Al Habtoor City, brought together over 400 senior UAE-based business leaders, investors, diplomats, and institutional stakeholders, alongside Sri Lanka’s most senior government representatives.
The gathering was graced by Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, as Guest of Honour, and Vijitha Herath, Sri Lanka’s Minister of Foreign Affairs, Foreign Employment and Tourism. A high-level Sri Lankan delegation – including the Secretary to the Prime Minister, the Chairman of the Board of Investment, the Chairman of the Export Development Board, and the Director General of Commerce – underscored the government’s strong commitment to deepening economic diplomacy with the UAE.
In his keynote address, Minister Herath reaffirmed the centuries-old ties between Sri Lanka and the Arab region, emphasising the UAE’s vital role as a key economic partner. He stressed the urgency of finalising a Comprehensive Economic Partnership Agreement (CEPA) with the UAE, which would establish a robust framework to elevate trade, investment, and bilateral cooperation. Declaring Sri Lanka “open and ready for business,” he positioned Port City Colombo as the physical embodiment of this economic mission – a modern Special Economic Zone (SEZ) with a dedicated legal framework and competitive incentives, offering UAE investors a natural gateway to South Asia while maintaining strong Gulf connectivity.
Business
American Premium Water strikes Gold at Dragons of Sri Lanka 2026
American Premium Water has secured four wins at Dragons of Sri Lanka Awards 2026, including three Gold Dragons and one Black Dragon, marking a significant milestone for the brand following its relaunch last year.
Part of the prestigious Dragons of Asia awards, Dragons of Sri Lanka brings the program’s regional platform to the local market, celebrating creative and effective marketing communications, with entries evaluated on strategic thinking, creativity, execution and impact. Established in 2000, Dragons of Asia is one of Asia’s premier results-driven marketing awards programs.
For American Premium Water, the achievements are particularly significant given that the company’s debut at the Dragons awards has resulted in four Dragons across four categories. In the distinction of Gold Dragons, American Premium Water was recognized across three categories including Product Launch or Re Launch, Cause, Environment or Sustainability and Creative Excellence while the Black Dragon was awarded in recognition of Small Budget.
Competing alongside leading brands and agencies in Sri Lanka, American Premium Water’s four wins demonstrate the strength and effectiveness of its recent work. Winning three Gold Dragons across three distinct categories highlights the breadth of the brand’s achievements, while the Black Dragon for Small Budget further emphasizes its ability to create meaningful impact through focused and efficient investment.
-
News5 days agoNamal remanded until Sept. 18 over Airbus deal investigation
-
Latest News4 days agoTharanga creates history with Diamond League crown in Brussels
-
News4 days agoDispute which triggered listed company director being detained at BIA resolved
-
Features3 days agoAfter the parade: What a traffic OIC’s walk-out tells us
-
Opinion6 days agoIn Memory of Dr Upatissa Pethiyagoda
-
Editorial5 days agoPower vs Equality
-
Latest News6 days agoSLPP MP Namal Rajapaksa arrested by CIABOC
-
Editorial3 days agoArrests as theatre
