Business
‘Siyapatha Finance persistently grows into Q1, standing firm amidst the challenging environment’

Siyapatha Finance stands confident despite economic setbacks, reporting an outstanding performance during the first quarter of 2022 with favourable returns and increased revenue.The Company recorded a Profit Before Tax (PBT) of Rs.608.0 Million in 1Q 2022 compared to Rs.395.9 Million in 1Q 2021, a growth of 53.6%. Resilient performance and improved credit quality helped strengthen the Company’s performance in the 1Q of 2022.
Efficient and professional initiatives by the Company also witnessed an improvement in the Cost to Income ratio to 34.06% during 1Q 2022 from 34.45% recorded in 1Q of 2021.Effectiveness of the credit recoveries process is amply reflected in the improved NPL ratio of its key lending product “Leasing” which stood at 9.31% at the end of March 2022, in comparison with 12.06% at the end of 31 December 2021. The Company has also been meticulously monitoring overdue facilities with a view to identifying customers who face genuine difficulties.
Siyapatha Finance’s total assets grew by 6.7% to reach Rs.45.6 Billion at the end of 31 March 2022, an increase from Rs. 42.7 Billion at the end of December 2021. In spite of the prevailing challenging economic environment, the net loans and advances grew by 5.5%, reaching a notable Rs.38.7 Billion.The deposit base of the Company was maintained at a steady level of Rs. 16.6 Billion thus reflecting the trust and confidence inspired by the Company among fund managers, retail depositors and the corporate sector that continue to invest substantially in fixed deposits.Annualized return on average assets (ROA) after tax also increased to 3.81% in 1Q 2022 from 2.59% in December 2021, while Annualized return on average equity (ROE) after tax increased to 26.07% in 1Q 2022 from 19.16% in December 2021.
The capital adequacy ratios were reported well above the regulatory minimum requirements and recording 14.10% as the Tier I capital ratio and 20.43% as the total capital ratio as at 31 March 2022.Siyapatha Finance’s strong undisputed position was further reinforced by the rating of ‘A (lka)’; Outlook Stable, affirmed by Fitch Ratings Lanka Ltd.
“These outstanding results achieved in the first quarter gives us the confidence to endure in performance going forward. We are grateful for the unwavering trust and support of our customers, investors and other stakeholders throughout this challenging period and will continue to deliver on our promises to our customers, community and shareholders as we grow from strength to strength,” stated Mr. Sumith Cumaranatunga, Chairman, Siyapatha Finance.Siyapatha Finance also marked a significant milestone in its journey with the construction of the new Corporate Headquarters in Colombo in order to facilitate the operations from a more centralized geographical setting. This state-of-the-art eighteen level building interlaced with modern technology will operate as the main hub aiming to enhance the overall Siyapatha experience for all stakeholders.
Business
ASUS launches ‘cutting edge’ laptops in Sri Lanka for AI acceleration

ASUS and Republic of Gamers (ROG) Sri Lanka officially launched their latest suite of computing innovations, setting a new benchmark for ultra-portability, AI acceleration, and next-generation gaming experiences in the country.
Unveiled at Shangri La, Colombo on May 7th, the lineup includes five cutting-edge laptops designed to cater to students, professionals, gamers, and creators, marking a transformative leap for Sri Lanka’s tech landscape.
Leading the charge is the ASUS Zenbook A14, the world’s lightest Copilot+ PC at just 980 grams. Featuring a durable Ceraluminum chassis, Snapdragon X processor, and a 45 TOPS NPU for AI tasks, it boasts an ASUS Lumina OLED display, up to 32-hour battery life, Wi-Fi 7, and 1 TB SSD storage. Meanwhile, the gaming-focused ROG Strix SCAR 16/18 and Zephyrus G16 pack Intel Core Ultra 9 processors and NVIDIA RTX 5090 GPUs, paired with 240Hz Mini-LED displays, customizable RGB lighting, and advanced cooling systems for marathon sessions.
“Our mission is to push boundaries in performance and design,” said Eric Ou, ASUS South Asia’s Regional Head, emphasizing the brand’s commitment to innovation. The new devices blend portability with power, offering AI-enhanced workflows and gaming prowess.With multi-day battery life and groundbreaking specs, ASUS aims to redefine how Sri Lankans work, create, and play.
By Sanath Nanayakkare
Business
Direct Kitchens opens flagship Colombo showroom blending Australian luxury design with local elegance

Direct Kitchens, Melbourne’s premier designer and manufacturer of high-end custom kitchens, marked a significant milestone with the launch of its first international showroom in Colombo, bringing over 40 years of world-class kitchen design expertise to sophisticated Sri Lankan homeowners. Located at No. 314, R.A. De Mel Mawatha, Colombo 03, the new Experience Centre reflects the brand’s commitment to luxury, craftsmanship, and innovation.
The soft launch of the showroom was attended by select invitees including Nalin Herath, Chairman and Managing Director of Home Lands Group, who graced the occasion as the Chief Guest, along with industry professionals and well-wishers.
For over three decades, Direct Kitchens has earned a stellar reputation in Australia for creating bespoke, luxurious kitchens that are as functional as they are visually stunning. From sleek modern designs to timeless French provincial and country styles, each kitchen is crafted with precision, using the finest materials and cutting-edge technology. The brand also specializes in a range of custom interior solutions including pantry units, wardrobes, closets, laundry units, and more—tailored to suit the lifestyle and aesthetic of each client. Direct Kitchens Sri Lanka is a subsidiary of Home Lands Group, Sri Lanka’s leading real estate solutions provider.
The Colombo Experience Centre marks the beginning of Direct Kitchens’ global journey in redefining sophisticated living spaces. Visitors to the showroom can explore a curated selection of premium kitchen displays, cabinetry styles, finishes, and fittings—guided by a team of expert designers who offer personalized consultations and complete project management services.
Speaking at the launch, Amaya Herath, Director of Direct Kitchens Sri Lanka, stated, “We are proud to bring the legacy of Direct Kitchens to Sri Lanka and offer homeowners here access to a new standard in luxury interior solutions. Our Experience Centre is more than just a showroom—it’s a space where creativity, lifestyle, and functionality meet. With our decades of expertise and design excellence, we look forward to helping our clients transform their homes into elegant, purposeful spaces.”
Business
W15 Ambuluwawa- Magic, mystery and magnificence

Harold Samuel, a British real estate mogul is credited with the phrase- location, location, location, a sentiment that will forever be pertinent and one that is evident when you behold W15 Ambuluwawa, a white clad stunning boutique hotel perched atop an outcrop of land in Gampola, offering 360-degree views of hills wearing jade and crowns of white clouds. It is a magical place that invites guests to leave the ordinary behind and step into the extraordinary and be enveloped with an utter stillness of being and a peace that transcends quiet.
W15 Ambuluwawa is indeed a rare find, a gem that has been recently added to adorn the W15 Collection, a group of luxurious boutique hotels dotted across some of the most beautiful locations in Sri Lanka. The first boutique hotel to be opened within the Ambuluwawa biodiversity project, W15 Ambuluwawa, with one master suite, 4 deluxe and 3 standard rooms, has been designed with responsibility to the surroundings and sustainability at its core. The ingenuity of architectural genius is displayed from every space in this breathtaking property as the exterior beauty is captured through floor to ceiling windows, a spacious patio and a sundeck.
Guests can expect W15’s signature exceptional service with a large staff cadre and a personal butler assigned to each room, an extraordinary al-fresco dining experience where tastebuds will be tantalized while nature paints the skies with vivid hues and birdsong provides a harmony of background music. Evenings are for breathtaking sunsets to be imbued into your restless soul while you sip a sundowner on the patio.
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