Business

SLID and EY organize webinar on “Rising from the Pandemic”

Published

5 years ago

2021/07/9

The Sri Lanka Institute of Directors (SLID) together with EY organized a webinar titled “Rising from the Pandemic: Challenges, Responses and Learnings” recently to discuss and share insights on the experiences of leading companies and their successful response to the pandemic. Moderated by A. R. Rasiah – Chairman, SLID, the Keynote Speaker at the event was Jonathan Moreno – Chief Strategy Officer, Metro Retail Stores Group Inc., Philippines. Joining him on the panel were top Sri Lankan corporates Hanif Yusoof – Group CEO, Expolanka Holdings PLC, Suren Fernando – CEO, MAS Holdings (Pvt) Ltd and Nalin Karunaratne – Director/CEO, Ceylon Biscuits Ltd and CBL Exports (Pvt) Ltd.

In his keynote address Jonathan Moreno said that the severity of the pandemic can be seen by the ADB conducted survey in Philippines revealing that out of 74,000 firms surveyed, 40% were closed during the pandemic out of which 16% were permanently closed and 78% saying that they have either decreased or stopped staff payments. “In addition to the challenges faced due to quarantine measures, travel restrictions and inadequate tech infrastructure, executive myopia, attitudinal shifts in the workforce, analog mindsets, outdated business models, silo mentality, skills, leadership and capability gaps, transactional relationships with stakeholders, performance management and governance were some of the specific challenges that we faced” and added that Metro Retail responded with strategies to ensure team welfare and security, financial stability, business continuity, moving to scenario-based stress testing, creating new delivery channels, governance, and communication models.

Describing various events in the past which led to strategies being implemented to make the business agile, and lead and think on its feet had helped its successful response to the pandemic, Hanif Yusoof said “as a global organization with a large monthly overhead, our main challenges were the working capital required to keep the system going with potential losses for the next 6 months, health & safety of our employees, and possible delayed payments from customers aggravating the capital requirements” adding that adopting work from home policies and opening hotlines for employee support, involving the Main Board on a weekly basis with management, focusing on the short term when the future is unclear played a critical role in Expolanka’s successful response to the pandemic.

“Amidst many challenges including order cancellations and pushbacks, operational stability, and the large workforce, our approach at MAS in responding to the pandemic was very clear in that our first and foremost concern was to protecting lives and livelihoods of our people which has been our motto and principle. We have set up many top-of-the-line care centers to treat our impacted employees. This employee first strategy has enabled us to build trust and engagement at all levels including at the shopfloor. We also ensured open, honest, quick communication with our customers regarding the impact on their deliveries” said Suren Fernando. He also added that amongst others, the support of the Board including giving management the independence and autonomy to make calls and move on, and digitalization programmes as positive factors in responding successfully to the pandemic.

“With over 6,000 employees, 24-hour manufacturing, 12,000 farmers supplying produce for our manufacturing processes, distributors, and over 150,000 retail outlets who depend on our brands, CBL’s foremost concerns, in our response to the pandemic, lay in ensuring the health & safety of employees, and ensuring food safety & security in fulfilling a large-scale responsibility to the country. We went to the extent of upgrading facilities in hostels where our employees were residing to ensure their health & safety and made certain that we cared for even the families of our employees who were impacted by the virus which enabled us to gain great trust amongst our employees. Furthermore, any changes to the manufacturing facility were done only with the approval and concurrence of the health authorities. We also ensured that our facilities and processes were always in conformance with the SLS and other standards making us ready even for unannounced compliance audits” said Nalin Karunaratne. He added that sticking to the basics and doing the right things, not taking short-cuts even in the most challenging times, and relying on wisdom which overpowers business rationale helped them to successfully face the pandemic.

In his closing remarks, moderator A. R. Rasiah said that the employee first approach including focus on employee health & safety, wellbeing and caring, and livelihood protection which helped to obtain the trust, support, commitment, and cooperation of their people was highlighted by all panelists as the key and foremost strategy that helped them successfully navigate their companies amidst the challenges of the pandemic.

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Business

Ambeon Securities hosts exclusive investor forum on Sri Lanka’s economic and market outlook

Published

16 hours ago

2026/07/17

Thilina Walpola

The event was organized with the objective of providing investors with valuable insights to make better-informed investment decisions while further strengthening the firm's engagement with its growing client base.

Ambeon Securities recently hosted an exclusive investor forum, bringing together clients, investors, business leaders, and market professionals for an insightful discussion on Sri Lanka’s economic outlook and investment opportunities amidst a challenging global landscape.

The event was organized with the objective of providing investors with valuable insights to make better-informed investment decisions while further strengthening the firm’s engagement with its growing client base.

The forum featured Baqar Zaidi, Director and Chief Economist for Sri Lanka and India at Citi Research, as the keynote speaker. Sharing his perspectives on the evolving global macroeconomic environment, Mr. Zaidi discussed key themes influencing emerging and frontier markets, Sri Lanka’s economic trajectory, and the opportunities lie ahead.

The keynote address was followed by an engaging panel discussion comprising Baqar Zaidi, Aravinda De Silva, respected investor, entrepreneur, and the Chairman of Arcasia Holdings. Hasitha Premaratne, Group Managing Director of Brandix and Asanka Herath, Chief Executive Officer – Unit Trusts and Head of Equities at LYNEAR Wealth Management.

Moderated by Imran Furkan, the panel explored a range of topics including Sri Lanka’s macroeconomic outlook, the future of the Colombo Stock Exchange, sectoral opportunities, capital allocation strategies, investor confidence, and the role of policy reforms in attracting investment and supporting long-term growth.

Speaking at the event, Charith Kamaladasa, Chief Executive Officer of Ambeon Securities, reaffirmed the company’s commitment to facilitate quality insights, informed perspectives, and meaningful dialogue to support their clients while building lasting relationships with them. He noted that in an environment where uncertainty has become the new normal, equipping investors with timely information and expert perspectives is essential for successful wealth creation.

The event was well attended by a distinguished gathering of institutional investors, high-net-worth investors, and business leaders. Among those present were members of the Ambeon Group Board, including Group Chairman Sujeewa Mudalige, Group CEO Dr. Sajeeva Narangoda, and Chairman of Ambeon Securities Mangala Boyagoda. Their presence, together with the participation of Ambeon Group shareholders and valued clients, enriched the discussions and contributed to a vibrant networking session, fostering meaningful dialogue and stronger connections within the investment community.

Through initiatives such as this, Ambeon Securities continues to reinforce its commitment to helping clients navigate evolving market conditions, make informed investment decisions, and achieve their long-term financial goals.

Business

Tata Group leads humanitarian education support initiative with DIMO and ChildFund

Published

16 hours ago

2026/07/17

Thilina Walpola

The Tata Group, in partnership with ChildFund and DIMO, has successfully implemented a humanitarian education support initiative for disaster-affected schoolchildren in Sri Lanka, reaffirming its commitment to helping communities recover from the impacts of Cyclone Ditwah and the subsequent floods.

Following a formal request for support from Sri Lanka, an on-ground assessment was conducted in December 2025. Recognizing the urgent need, several Tata companies joined forces to implement the response program.

As part of this initiative, the ‘Hope in a Backpack’ programme, which provides disaster-affected children with essential educational supplies, was launched by the Tata Group at Taj Samudra, Colombo, in the presence of the Chief Guest, Hon. Prime Minister Dr. Harini Amarasuriya; the Guest of Honour, Hon. Indian High Commissioner Santhosh Jha; Ranjith Pandithage, Chairman of DIMO; Chacko Thomas, Group Chief Sustainability Officer, Tata Sons; and Aditi Ghosh, Country Director, ChildFund.

This initiative is part of DIMO’s Social and Community Pillar, under the project theme ‘Lassana Hetak,’ which focuses on giving the future generation a helping hand towards a better future.

This collective effort was further strengthened by volunteers from Tata and DIMO, who actively mobilized on the ground to pack, distribute, and support affected communities. During the proceedings, specially invited schoolchildren received the backpacks with essential supplies as well.

Commenting on the partnership, Ranjith Pandithage, Chairman of DIMO, said: “DIMO is proud to collaborate on this meaningful initiative alongside the Tata Group and ChildFund as the local implementation and logistics partner. Our relationship with Tata spans more than six decades and has been built on a shared commitment to ethical business practices, trust, and creating lasting value for the communities we serve. These values have shaped our partnership over the years, extending beyond business to initiatives that make a meaningful difference in people’s lives.”

Business

NovaNest Properties launches Rainbow Apartments in Ratmalana

Published

16 hours ago

2026/07/17

Thilina Walpola

Samitha Waidyasekera CEO - NovaNest Properties (Pvt) Ltd

NovaNest Properties (Pvt) Ltd has officially launched Rainbow Apartments, a new residential development in Ratmalana. The announcement was made at an official launch event held at the Shangri-La Hotel, Colombo, marking the company’s latest addition to Sri Lanka’s growing apartment market.

The development is designed to cater to homebuyers seeking modern urban living, as well as investors looking for long-term value. Rainbow Apartments is located in Ratmalana, an area of increasing residential interest, and benefits from the suburb’s established social infrastructure, proximity to major transportation links, and accessibility to Colombo.

The project reflects NovaNest Properties’ commitment to delivering quality residential developments that combine contemporary design with practical living. Intended to satisfy the evolving lifestyle demands of today’s homeowners, Rainbow Apartments features thoughtfully designed living spaces supported by modern amenities. These include two infinity pools, a gym, fully functional workspaces, a mini theatre, stylish cafés, a mini-mart, and a children’s daycare. Additionally, it features a full time medical centre backed by Nawaloka Hospitals PLC Colombo, with a 24-hour ambulance service.

Commenting on the launch, the Chief Executive Officer of NovaNest Properties (Pvt) Ltd, Samitha Waidyasekera, said, “Today’s buyers are looking beyond square footage. In addition to providing long-term value, they want homes that are close to the places where they work, learn, and spend their time. With that shift in mind, Rainbow Apartments was created to bring together a strategic location, thoughtful design, and quality construction in a way that will continue to meet buyers’ needs for years to come. Through our promise of ‘Luxury Beyond Expectations,’ we are committed to delivering an elevated lifestyle experience that combines comfort, convenience, and modern living.