Business
Seylan Bank appoints Ramesh Jayasekara as Director/CEO to lead next stage of transformation and growth
Seylan Bank PLC, has announced the appointment of Ramesh Jayasekara as its new Director/Chief Executive Officer, effective from 1 May 2023.Having joined Seylan Bank in 2011 as Chief Financial Officer, Ramesh was later appointed Chief Risk Officer in 2016 and assumed the role of Deputy General Manager – Corporate Banking from 2018 until 2019. He was promoted to Senior Deputy General Manager in January 2020 and elevated to Chief Operating Officer the following year.
Ramesh also serves as a Non-Executive Director of Seylan Development PLC, since November 2012.As an integral part of the leadership team for many years, Ramesh brings a wealth of experience and knowledge to this new position. Over the years Ramesh has garnered extensive experience in various roles and positions at Seylan and demonstrates substantial capacity to lead the bank, and a commitment to its values and mission, strengthening the brand, and building stronger foundations for its future success.
Ramesh holds a first class honours degree from the University of Colombo. He is an Associate member of the Institute of Chartered Accountants of Sri Lanka, Chartered Institute of Marketing – United Kingdom, Association of Chartered Certified Accountants, United Kingdom and Certified Management Accounts of Sri Lanka.
Contributing to the long-term strategy of the bank, Ramesh has over 20 years of experience in Banking, Strategic Planning, Financial Management, Risk and Audit, both locally and internationally. Prior to joining Seylan Bank PLC, Ramesh has gained extensive international experience as Deputy Regional Financial Controller of the French Banking giant BNP Paribas, Middle East Region comprising Bahrain, Saudi Arabia, Kuwait, Qatar, Dubai, Abu Dhabi and Cyprus. In Sri Lanka, he held senior roles at HSBC Sri Lanka as Resident Manager – Finance & Planning and at KPMG Sri Lanka as an Audit Manager.
Ramesh’s comprehensive experience in operations, combined with introduction of relevant technological improvements will inevitably contribute to advancing Seylan’s digitalisation strategy, commitment to providing superior products and an exceptional customer experience, continuing to lead the bank with integrity, innovation, and a customer-first approach.
Ramesh was appointed Deputy Chief Executive Officer of the Bank in September 2022 and will succeed current Director/CEO Kapila Ariyaratne, who is retiring after 12 years of dedicated service, which involved many significant accomplishments.
The new Director/CEO will take over the reins of the Bank from the stewardship of Kapila Ariyaratne, who’s outstanding service, commitment and leadership has steered Seylan forward through demanding and challenging years. As the Bank celebrates its 35th anniversary, it has grown in assets, deposits and advances by 300% over the past decade, with revenue quadrupled and profit after tax doubled.
Despite the country facing socio-economic crises during the past three years, the Bank under Kapila’s admirable leadership, has unstintingly supported the nation and all customers. In the past decade, the Bank has also been continuously investing in the community assisting under privileged communities, investing in enabling education through the Seylan Pehasara project which established 225 libraries across the country, and has driven the bank to be nominated as the best in Customer Services for four consecutive years (as per LMD). As Kapila leaves the helm of the Bank, the institution is currently in a buoyant and very positive phase of change and growth. He has inspired and mobilised the best skills and resources with courage, boldness and precision to execute strategies in the best interest of all stakeholders.
Business
The eternal pilgrimage of Hajj: A journey through faith, sacrifice and humanity
Every year, the spiritual compass of the Muslim world turns towards the holy city of Makkah, where millions of pilgrims gather for Hajj — one of humanity’s oldest and most profound journeys of faith.
This year, too, the sacred valleys of Saudi Arabia are filled with the echoes of “Labbaik Allahumma Labbaik” — “Here I am, O Allah, here I am” — as Muslims from every continent respond to a divine call that dates back thousands of years to Prophet Ibrahim (Abraham).
Among them are thousands of Sri Lankan pilgrims, dressed in simple white garments, leaving behind worldly status, wealth and identity in pursuit of spiritual purification and closeness to God.
According to Muslim Affairs authorities, the Kingdom of Saudi Arabia has allocated a Hajj quota of 3,500 pilgrims for Sri Lanka for Hajj 2026, enabling devotees from across the island to undertake the sacred pilgrimage. The annual allocation is determined through agreements between Saudi Arabia and Muslim-majority and minority nations worldwide.
Since early this month at the Bandaranaike International Airport in Katunayake, emotional scenes unfolded as families bade farewell to departing pilgrims with tears, embraces and prayers.
Elderly parents clutched prayer beads, children waved anxiously, while relatives sought blessings from loved ones embarking on the once-in-a-lifetime spiritual journey.
For many Sri Lankan Muslims, performing Hajj is not simply travel — it is the fulfilment of a lifelong dream nurtured through years of prayer, sacrifice and savings.
In villages, towns and cities across Sri Lanka, preparations for Hajj often begin months or even years in advance. Some families save gradually over decades, while elderly pilgrims regard the journey as the culmination of a lifetime of devotion.
Hajj is the fifth pillar of Islam and is obligatory for every financially and physically able Muslim at least once in a lifetime.
Yet the pilgrimage is far more than a religious obligation.
It is a journey deeply rooted in the story of Prophet Ibrahim, known as Abraham in Christianity and Judaism, and revered across the Abrahamic faiths as a towering symbol of faith, obedience and sacrifice.
Islamic tradition recounts how Prophet Ibrahim was commanded by Allah to leave his wife Hajjar and infant son Ismail in the barren desert valley of Makkah. With unwavering faith in God’s wisdom, Ibrahim obeyed.
Left in the scorching desert with little water or food, Hajjar desperately searched for water for her thirsty child, running seven times between the hills of Safa and Marwa.
Her determination, courage and trust in God are immortalised in the rituals of Hajj today.
Pilgrims reenact Hajjar’s desperate search by walking between Safa and Marwa, symbolising perseverance, faith and hope even in moments of despair.
According to Islamic belief, Allah answered Hajjar’s prayers by causing the miraculous Zamzam well to spring forth beneath baby Ismail’s feet — a well that continues to provide water to millions of pilgrims centuries later.
Another defining moment in Ibrahim’s story is commemorated during Hajj and Eid-ul-Adha — the willingness of the Prophet to sacrifice his beloved son in obedience to God’s command.
As Ibrahim prepared to carry out the sacrifice, Allah replaced Ismail with a ram, signifying that faith, sincerity and submission were greater than the act itself.
The symbolic stoning of the devil during Hajj recalls Ibrahim’s rejection of Satan’s temptations that sought to discourage him from obeying God.
Thus, every ritual of Hajj carries profound historical and spiritual meaning.
The pilgrimage is not simply movement through sacred spaces; it is a reenactment of timeless lessons in obedience, sacrifice, patience and devotion.
One of the most remarkable aspects of Hajj is the extraordinary equality it represents.
Pilgrims, regardless of nationality, race, language or social class, wear the same simple white attire, known as Ihram.
Presidents, businessmen, labourers and farmers stand side by side in prayer, under the blazing Arabian sun, erasing worldly distinctions and affirming the Islamic belief that all human beings are equal before God.
Religious scholars often describe Hajj as the world’s greatest annual demonstration of unity and humility.
The spiritual climax of the pilgrimage occurs at the plains of Arafat, where pilgrims spend hours in prayer and repentance seeking divine forgiveness.
Many Muslims believe that a sincerely accepted Hajj cleanses a believer of past sins and marks the beginning of a spiritually renewed life.
Upon returning home, pilgrims are honoured with the title “Hadji” or “Hajji,” a distinction that carries immense respect within Muslim communities, including in Sri Lanka.
Traditionally, a Hadji is viewed as someone who has fulfilled one of Islam’s most sacred obligations and returned with heightened spiritual responsibility.
However, Islamic scholars emphasise that the title is not merely ceremonial.
“The true significance of becoming a Hadji lies in personal transformation,” a Colombo-based Islamic scholar said.
“A pilgrim is expected to return with greater humility, compassion, honesty and social responsibility. Hajj is not about status; it is about becoming a better human being.”
Across Sri Lanka, mosques have been conducting special prayers for pilgrims, while families gather to seek blessings before departure.
The pilgrimage season also creates a unique emotional atmosphere within Muslim communities, where neighbours visit departing pilgrims and homes become centres of prayer and reflection.
Saudi Arabia has introduced extensive arrangements this year to facilitate the pilgrimage, including digital crowd management systems, improved transport networks, upgraded accommodation and enhanced healthcare services.
Sri Lankan diplomats and officials, stationed in Saudi Arabia, have been coordinating closely with Saudi authorities to ensure the welfare and smooth movement of Sri Lankan pilgrims throughout the pilgrimage period.
Sri Lanka’s Ambassador to Saudi Arabia, Ameer Ajwad, recently inspected facilities in Mina, prepared for Sri Lankan pilgrims, and reaffirmed efforts to provide a safe and spiritually fulfilling Hajj experience.
As millions circle the Holy Kaaba in prayer, Hajj continues to stand as one of the most extraordinary gatherings on Earth — a timeless spiritual movement connecting humanity across borders, cultures and generations.
For Sri Lanka’s pilgrims, the sacred journey is not merely a passage to Makkah.
It is a journey into the soul — a return to the eternal lessons of Prophet Ibrahim, Hajjar and Ismail — lessons of sacrifice, endurance, obedience and unwavering faith that continue to inspire humanity centuries later.
By Ifham Nizam
Business
‘Green Chilies’ returns after seven years to reignite Sri Lanka’s advertising industry spirit
After a seven-year hiatus, one of Sri Lanka’s most loved advertising industry gatherings is making a much-anticipated return. Green Chilies 2026, the iconic festival that once defined the fun, camaraderie and creative spirit of Sri Lanka’s advertising fraternity, returns on 4th June 2026 at Rise Up, Colombo 03, bringing together professionals from across agencies, media, digital, production and marketing for an evening of celebration, entertainment, and industry camaraderie.
Originally launched in 2011, Green Chilies was conceived as a platform to celebrate Sri Lanka’s Young Lions winners as they embarked on their journey to represent the country at the prestigious Cannes Lions International Festival of Creativity, while also creating a unique opportunity for the industry to come together outside boardrooms and deadlines.
This year’s revival comes at an especially meaningful time, as an entire new generation of industry professionals have entered the business without ever experiencing the culture and energy that made Green Chilies such a defining event. Some key highlights will be the recognition of the winners of the young Lions competition and the much-loved return of The Agency Idol, the wildly entertaining competition where agencies battle it out on stage in a spirited showcase of talent, humour, and creativity, bringing back one of the event’s most iconic traditions.
Speaking about the return of the festival, Ranil de Silva, Founder of Green Chilies and of Metal Factor, said: “When we first launched Green Chilies, the idea was simple. It was to celebrate our Young Lions and create something that brought the industry together as one community. Over the years it became far more than an event, it became part of our industry culture. Seeing it return after seven years is very special, particularly because so many young professionals will now get to experience the spirit that made this industry such a fun and inspiring place to be.”
Green Chilies 2026 is organized by Metal Factor and supported by the 4A’s Sri Lanka.
Event Details:
Venue: Rise Up, Alwis Place, Colombo 03
Date: Thursday, 4th June 2026
Time: From 6.30 PM onwards
Contact : Shelley +94 77 342 3123
Business
JKH posts 75% EBITDA growth to Rs.80.01 billion as recent investments begin to contribute
John Keells Holdings PLC (JKH) reported a strong financial performance for FY2025/26, with Group EBITDA increasing 75% to Rs.80.01 billion, reflecting the contribution of investments made over the past several years and the continued performance of the Group’s established businesses.
Group recurring EBITDA increased 71% to Rs.78.05 billion, compared to Rs.45.69 billion in the previous year, driven primarily by Retail, Transportation and Leisure. Recurring profit before tax rose 143% to Rs.35.72 billion, while recurring profit attributable to equity holders of the parent increased 155% to Rs.13.24 billion.
The year also marked the culmination of the largest investment phase in the Group’s history, with the operationalisation of key investments signalling a shift in the capital cycle from development to contribution. Overall funding requirements reduced materially in line with expectations, while net debt to EBITDA stood at approximately 2 times and net debt to equity at approximately 31%.
City of Dreams Sri Lanka recorded positive EBITDA for the full year, following the completion and launch of the remaining components of the integrated resort. Cinnamon Life’s conference and event spaces attracted interest from local and international organisers, while casino operations showed an encouraging pick-up from the fourth quarter onwards.
Colombo West International Terminal, the project company of WCT-1, recorded strong throughput growth during the year, supported by an improving volume mix. The business delivered a positive profit after tax ahead of expectations, despite recognising depreciation relating to phase 1, and has reached full utilisation of phase 1 capacity based on its latest monthly run-rate.
John Keells CG Auto recorded an exceptional year, supported in part by pent-up demand and the brand positioning and vehicle range of BYD.
The Supermarket business recorded approximately 14% growth in same store sales, driven primarily by a 14.3% increase in footfall. The Beverages and Confectionery businesses recorded strong volume growth, with Beverages benefiting from higher margins, while Confectionery margins were impacted by higher raw material costs and expenses linked to new product introductions.
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