Connect with us

Business

‘Siyapatha Finance to issue LKR 4 billion debentures, reinforcing commitment to growth’

Published

on

Siyapatha Finance PLC, a subsidiary of Sampath Bank PLC and a prominent leader distinguished in Sri Lanka’s non-bank financial sector, announced its decision to raise Rs. 4 billion through its debenture issue.

The Board of Directors of Siyapatha Finance PLC approved the decision to raise funds through the issuance of listed, rated, senior, unsecured, redeemable debentures on 6th March , 2024.

The initial offering stands at Rs. 2 billion, with an option to extend by an additional Rs. 2 billion, bringing the total potential issuance to Rs. 4 billion. With a five-year tenure, these debentures are poised to offer investors at a fixed interest of 13.20% p.a payable annually (AER 13.20%). .

The proceeds from this issuance are apportioned for the expansion of Siyapatha Financ PLC ‘s lending portfolio, highlighting the company’s commitment to fostering sustainable growth and strategic investment opportunities in alignment with its long-term vision.

“As Siyapatha Finance PLC reaffirms its commitment to fostering financial inclusivity and driving economic growth in Sri Lanka, we’re confident that this will enable us to continue providing innovative and sustainable financial solutions to our valued customers,” stated Ananda Seneviratne, Managing Director of Siyapatha Finance PLC.



Business

UAE Pledges Support for the Promotion of Energy, Tourism, Investment and Foreign Employment Sectors

Published

on

By

The Deputy Prime Minister and Minister of Foreign Affairs of the United Arab Emirates (UAE), Sheikh Abdullah Bin Zayed Al Nahyan, stated that the UAE will prioritize the promotion of the energy, tourism, foreign investment and foreign employment sectors while further strengthening its longstanding ties with Sri Lanka.

The Deputy Prime Minister who is currently on an official visit to Sri Lanka accompanied by a high-level UAE delegation made these remarks during a meeting with President Anura Kumara Disanayake at the Presidential Secretariat on Tuesday (22).

The Deputy Prime Minister emphasized that this visit aims to further strengthen and expand the strong and longstanding bilateral relations between the two nations, with a focus on achieving mutual economic benefits through deepened cooperation for both countries.

Extending his best wishes on behalf of the UAE and its people to the new administration of Sri Lanka, the Deputy Prime Minister assured the UAE’s full support for the new government’s development agenda.  Furthermore, he praised President Anura Kumara Disanayake’s dedication, efforts and commitment toward rebuilding Sri Lanka, as well as his positive approach toward relations with the UAE.

In response, President Anura Kumara Disanayake emphasized that Sri Lanka has now established an investment-friendly environment. He assured that unlike in the past, the country would not allow the re-emergence of an unstable climate that discouraged investment. The President also stressed that there are now strong legal frameworks in place to protect investments.  The President also briefed the delegation on the government’s steps toward debt restructuring and achieving economic stability. Additionally, he outlined investment opportunities available in port terminal development, port city development, the tourism industry, the energy sector and transportation sector.

President Disanayake further emphasized that the new government’s objective is to position Sri Lanka as the region’s leading investment hub and premier tourist destination.

Among those present at the meeting were Minister of Labour and Deputy Minister of Economic Development, Dr. Anil Jayantha Fernando, Senior Additional Secretary to the President Roshan Gamage, Minister of State (UAE) Ahmed Ali Al Sayegh; UAE Ambassador to Sri Lanka. Khaled Nasser Al Ameri, Assistant Minister for Economic and Trade Affairs (UAE) . Saeed Mubarak Al Hajeri, Assistant Minister of Foreign Affairs for Energy and Sustainability Affairs (UAE)  Abdulla Balalaa, Deputy Chief of Staff at the Office of the Minister of Foreign Affairs to the UAE, Ahmed Burhaima, Director of the Policy Planning Department at the Ministry of Foreign Affairs (UAE) Muath Alwari, Senior Media and Content Specialist at the Office of the Minister of Foreign Affairs (UAE) Maitha Al Mansouri, Desk Officer for Asian Affairs and Pacific Department (UAE) Ms. Huda Al Abdali and several other officials.

[PMD]

Continue Reading

Business

Dialog Enterprise partners with the National Chamber of Exporters to enable digital transformation of Sri Lankan exporters

Published

on

From left to right – Sameera Wijerathna, Chief Manager - Digital SME and Education, Dialog Enterprise | Viranga Seneviratne, Head of ICT and Platforms Business, Dialog Enterprise | Navin Pieris, Group Chief Officer - Dialog Enterprise | Shiham Marikar, Secretary General/ Chief Executive Officer- NCE | Dilini Gamlathge - Assistant Director– Member Services/Operations - NCE

Dialog Enterprise, the ICT corporate solutions arm of Dialog Axiata PLC, has partnered with the National Chamber of Exporters of Sri Lanka (NCE) as the official Digital Technology Partner to empower Sri Lankan exporters with cutting-edge digital solutions and Technology expertise.

This collaboration aims to equip exporters with advanced technology-driven capabilities to enhance efficiency, drive innovation, and improve competitiveness in global markets. As Sri Lanka’s No.1 ICT solutions provider, Dialog Enterprise will support NCE and its members with tailored technology solutions, digital transformation initiatives, and expert-led training programs to help businesses embrace Digital Transformation.

“With the government focusing on increasing exports, an export earnings target of $18.2 billion has been set for 2025. The NCE, as the exclusive private sector chamber working with Sri Lankan exporters and service providers to exporters, has engaged in many market access initiatives. The government is also progressing towards a digital economy, and we believe that Sri Lankan exporters must be part of this initiative and advance in the digital arena. It is crucial to ensure that our exporters utilise effective digital platforms to enhance their business activities, including productivity, cost efficiency, and competitiveness in international markets. We believe it is timely to have a Digital Technology partner to help our exporters remain competitive in terms of technology. In today’s rapidly evolving global marketplace, Sri Lankan exporters must integrate digital solutions to stay ahead and drive sustainable growth. This partnership with Dialog Enterprise marks a significant step in ensuring our members have access to the latest technological advancements and expertise to optimise their business operations,” said Shiham Marikar, Secretary General/ Chief Executive Officer- NCE.

This strategic partnership will extend technical empowerment and digital expertise to digital entrepreneurs, manufacturers, SMEs, apparel exporters, retail businesses, agriculture and other industries that rely on digital technology to expand their reach and enhance operational efficiency. With Dialog Enterprise’s industry-leading ICT portfolio, including converged connectivity, cloud services, cybersecurity, data analytics, and Internet of Things (IoT) solutions, exporters will have the tools to digitally transform their businesses and unlock new opportunities.

The collaboration will also introduce training sessions and industry expert support, ensuring NCE members stay ahead of the latest technological advancements and best practices in digital business operations. Additionally, Dialog Enterprise and NCE will work together to host future industry events and initiatives, focusing on technology adoption, digital security, and automation, further strengthening Sri Lanka’s position in the global trade ecosystem.

“At Dialog Enterprise, we believe that technology should be a catalyst for business growth and global expansion. As Sri Lanka’s No.1 ICT solutions provider, we invite businesses across all industries to partner with us in driving digital transformation, unlocking new efficiencies, and creating competitive advantages,” said Navin Pieris, Group Chief Officer – Dialog Enterprise.

Through this partnership, Dialog Enterprise reaffirms its commitment to empowering Sri Lankan businesses with world-class ICT solutions, ensuring they are well-equipped to succeed in an increasingly digital-first economy.

Continue Reading

Business

Team Bileeta celebrating its 15th anniversary

Published

on

Team Bileeta celebrating its 15th anniversary, marking a significant milestone in its journey of enterprise digitalization and innovation

Bileeta (Pvt) Ltd, a pioneering Sri Lankan technology company, proudly celebrates its 15th anniversary in 2025. From its inception, Bileeta has championed innovation and digital transformation—thriving enterprise digitalization in the era of AI. What began as a bold vision to create a world-class ERP platform has evolved into a globally recognized provider of next-generation enterprise solutions, empowering organizations across multiple sectors.

Established in 2010, Bileeta was built on a mission to humanize technology and empower organizations with innovative digital solutions. This mission led to the creation of Entution, Sri Lanka’s first-ever cloud-based ERP platform powered by business process architecture —developed entirely by local talent.

As part of its growth journey, Bileeta has expanded its global footprint by partnering with leading international channel partners and establishing regional offices in Singapore, Malaysia, and the Philippines. These strategic moves have strengthened Bileeta’s presence in Asia and enabled the company to serve its growing international customer base better.

In 2014, the company launched Entution ERP, a cloud-based solution designed to streamline operations, enhance accuracy, and deliver real-time business insights. In 2018, Bileeta introduced Entution Vesta, a Health Commodity and Vaccine Information Management System that transformed lifesaving medicine and vaccine distribution across national healthcare systems. Over 6,000 healthcare facilities in Nepal adopted the platform, and Gavi and The Global Fund have recognized it as the most comprehensive eLMIS (Electronic Logistics Management Information System) for low- and middle-income countries. Today, Entution eLMIS supports the medical supply chains of Nepal, the Philippines, and Zimbabwe—a milestone achievement for the Sri Lankan ICT sector and a testament to the country’s growing influence in global digital solutions.

With over 100 organizations, 16,000+ users, and more than 40 million transactions processed through the Entution platform, Bileeta has significantly impacted sectors, including healthcare, livestock, Agriculture, manufacturing, trade, and services.

CEO Sanji De Silva reflected on the company’s journey: “From the beginning, our goal was to build a product that could compete with the best ERP platforms in the world.

We started with just 18 people and a big dream—to become the ERP vendor of choice for global organizations. Today, we’re proud to see that dream realized and Sri Lankan innovation recognized worldwide. Our solutions are now adopted by organizations across various sectors, including four national Ministries of Health. It’s incredibly rewarding to see how our technology is helping organizations become more profitable, scalable, and sustainable.”

Bileeta’s evolution continues with the integration of AI-powered functionality such as demand forecasting into Entution, enabling businesses to optimize inventory, anticipate trends, and improve supply chain efficiency. These innovations reflect Bileeta’s commitment to powering the future of ERP and enabling smarter, data-driven enterprise operations through AI.

Continue Reading

Trending