Business
Siyapatha Finance records LKR 1 Bn PAT for Fy 2021, an impressive increase of 167%
Siyapatha Finance has continued on its robust performance, despite the pandemic-induced economic challenges, ending the 2021 financial year with the highest ever profitability through its Profit Before Tax reaching LKR 1.53 Bn. Profit after tax increased by 167% from LKR 409.5 Mn in 2020 to LKR 1,094.5 Mn in 2021. Income growth coupled with prudent management of operating expenses resulted in the substantial improvement of the cost to income ratio to 33.56% from 39.28% the previous year. The Company continued to systematically focus on its well performing segments, whilst maintaining its risk management strategies, credit quality and improving the recovery efforts.
Another noteworthy achievement was the management of Non-Performing Advances (NPA). During the year, the Company managed to reduce its gross NPA ratio to 16% from 18% in 2020. Despite the moratoria and drastic decline in economic activities, the Company was able to contain the NPA of the leasing portfolio within the industry benchmark of 12%. This reflects its commitment to driving recoveries and maintaining credit quality despite the downturn in business activities.
The Company held a strong asset base of LKR 42.75 Bn as at 31 December 2021, recording a growth of LKR 1,198.59 Million during the year. Total liabilities of the Company increased marginally to LKR 36.52 Bn as at 31 December 2021 compared to LKR 36.43 Bn as at 31 December 2020. The Company’s Return on Average Assets grew by 163 bps to 2.59% during the financial year 2021, derived by enhanced earnings.
The deposit base of the Company was maintained at a steady level of LKR 17.11 Bn. This reflects the trust and confidence attained by the Company among fund managers and the corporate sector that continued to place substantial fixed deposits.
The Tier I Core Capital Ratio and the Total Capital Ratio stood at 14.74% and 21.36% as at 31 December 2021, well above the respective regulatory capital adequacy requirements of 7% and 11%.
Commenting on the strong performance the Company has demonstrated in 2021, Sumith Cumaranatunga, Chairman, Siyapatha Finance PLC said “We are proud of the financial performance that Siyapatha Finance has delivered despite the challenges posed by the pandemic. This is a testament to the ability of our remarkable workforce, our strength, our dedication and our constant need to improve ourselves through the implementation of our high performing strategies. I am confident that the organization will continue building upwards, leveraging on opportunities that will help deliver positive results in the future.”
“Siyapatha Finance continues to display remarkable resilience and growth even amidst the prevailing challenges in the external environment. Our financial performance has spoken volumes about the Company’s strength and stability. We are cognizant of the challenging path ahead of us and yet we are confident of delivering consistent growth with much optimism and enthusiasm,” stated Ananda Seneviratne Managing Director, Siyapatha Finance.
Business
Ogilvy Group tops award tally at Dragons of Sri Lanka 2026
Nine awards, including two Golds, across disciplines recognise business-driven creativity
Ogilvy Group Sri Lanka delivered a standout performance at the recently concluded Dragons of Sri Lanka 2026 Awards, securing a total of nine awards comprising two Gold Dragons, one Silver Dragon and six Black Dragons, among the festival’s highest overall award tallies, a company news release said.
Gold Dragon wins for Phoenix Ogilvy and Ogilvy Digital, together with the seven additional recognitions across multiple categories, highlighted Ogilvy’s ability to combine creativity, strategic thinking and commercial effectiveness to deliver business results.
Organised by the 4As Sri Lanka, the third edition of Dragons of Sri Lanka shortlisted more than 50 agencies and corporates, making it one of the country’s most competitive marketing communications awards. These local awards, along with the chapters in Malaysia and Pakistan are part of the Dragons of Asia platform, one of the region’s leading programmes for marketing communications effectiveness, with entries being judged on strategy, originality, execution and measurable results.
Ogilvy Digital accounted for eight awards in total, including a Gold Dragon in the Business & Trade Marketing category, and a Silver Dragon in the Innovative Idea or Concept category. The Agency additionally received six Black Dragons across the categories of Innovative Idea or Concept, Business & Trade Marketing, Content Creation, Small Budget, Event or Experiential, and Brand Trial or Sales Generation.
Commenting on the achievement, Sajith Weerasinghe, Chief Operating Officer of Ogilvy Digital, said, “These recognitions reflect the breadth of capabilities we’ve built across strategy, creative, content, experience design, technology and performance marketing. The fact that the work was recognised across so many different disciplines demonstrates our ability to apply creativity to a wide range of business challenges and objectives. We’re proud that this achievement spans multiple clients, categories and types of work, reflecting both the versatility of our people and our commitment to delivering results.”
The Ogilvy Group’s second Gold Dragon win was Phoenix Ogilvy’s recognition in the Product Launch or Re-Launch category for the relaunch of American Premium Water. It was a multi-dimensional campaign which refreshed the identity and rejuvenated the positioning of one of Sri Lanka’s pioneering bottled drinking water brands, bolstering its 30-year heritage while connecting with a new generation of consumers.
Commenting on the win, Siddhartha Roy, Chief Operating Officer at Phoenix Ogilvy, said, “There’s always something special about reimagining a brand with a rich heritage. American Premium Water has been a trusted name in Sri Lanka for more than three decades, but the challenge was to make it relevant and compelling for a new generation of consumers. We created a new blueprint for growth for the brand’s positioning, proposition and visual identity, and manifested it through design, packaging and storytelling. To see that transformation recognised with a Gold Dragon, and more importantly reflected in the brand’s renewed momentum in the market, makes this a particularly rewarding achievement.”
The Ogilvy Group Sri Lanka operates across multiple marketing communication disciplines and comprises over 290 staff in creative, strategy, digital, media, public relations and integrated communications. As part of the global Ogilvy network, the Group partners with leading local and international brands to create integrated campaigns that build brands, influence behaviour and drive business growth.
Business
Musical tribute to Fr. Marcelline Jayakody held in California
A musical tribute celebrating the life and legacy of Rev. Fr. Marcelline Jayakody, OMI, renowned for his contribution to Sri Lankan arts, music, culture and religious harmony, was held in California with the participation of a large gathering of Sri Lankans.
Titled “Sri Lanka Rani Maniye,” the event was organised by the Sri Lankan Catholic Community in California (SLCCC) under the guidance of Rev. Fr. Rashmi M. Fernando, S.J.
The programme honoured Fr. Jayakody, affectionately known as “Pansale Piyathuma” (The Priest of the Temple), for his efforts to promote Buddhist-Catholic understanding, interfaith dialogue and a shared Sri Lankan identity.
The event brought together members of the Maha Sangha, the Consul General of Sri Lanka in Los Angeles, musicians, singers, donors, parents, children and members of the Sri Lankan community from Los Angeles and other parts of Southern California.
Music, song and Sri Lankan cultural traditions featured prominently, with organisers placing particular emphasis on introducing the country’s artistic and cultural heritage to younger generations of Sri Lankans growing up overseas.
The programme also highlighted the importance of community unity, religious harmony and mutual respect among Sri Lankans living abroad.
Rev. Fr. Fernando told the gathering that the event marked only the beginning of efforts that could achieve more through unity “for the pride and greater good of our motherland, Sri Lanka.”
The organisers thanked the performers, volunteers, donors and well-wishers who contributed to the event, which concluded as a celebration of Fr. Jayakody’s enduring cultural legacy and the Sri Lankan diaspora’s continuing connection with its homeland.
Business
Hayleys Fentons completes Rs. 1 bn manufacturing facility in Wathupitiwala
Hayleys Fentons Limited has completed construction of a state-of-the-art manufacturing facility for Shield Restraint Systems (Pvt) Ltd at the Wathupitiwala Export Processing Zone, with the project completed on schedule within approximately 14 months.
The project, valued at more than Rs. 1 billion, commenced with the laying of the foundation stone on January 7, 2025. It was undertaken by the project arm of Hayleys Fentons, with Design Consortium International (Pvt) Ltd serving as the principal design consultant.
The facility has been designed to meet international industry standards and incorporates advanced safety and energy-efficiency features. A pre-engineered building structural system was used to facilitate faster construction and optimise project costs.
The new facility will manufacture safety restraint systems for the international automotive industry through Shield Restraint Systems.
Hayleys Fentons Deputy Managing Director – Projects Sujith De Alwis said the timely completion of the project demonstrated the company’s engineering and project management capabilities and the ability of Sri Lankan construction expertise to meet stringent international standards.
Hayleys Mobility Executive Director Roshani Dharmaratne said the project required detailed planning, quality management and coordination across multiple disciplines.

Sujith De Alwis, Deputy Managing Director – Projects of Hayleys Fentons Limited and Roshani Dharmaratne, Executive Director of Hayleys Mobility Limited
Chairman Design Consortium Migara Alwis said the project further strengthens its portfolio in specialised industrial construction and supports investment linked to Sri Lanka’s participation in the global automotive supply chain.
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