Business

‘South Asia, key region for Japanese cooperation in disaster prevention’

Published

2 years ago

2023/10/24

Sahan Weerasooriya

Key dignitaries at the LKI forum

By Lynn Ockersz

Japan has identified South Asia as a key region for the extension of its cooperation in disaster prevention. As a matter of policy, Japan is in the process of strengthening the disaster prevention and response capabilities of countries vulnerable to natural disasters all over the world, Komura Masahiro, Parliamentary Vice Minister for Foreign Affairs of Japan said.

‘Through such cooperation, Japan is contributing towards firming a rules-based and free and open Indian Ocean region. Right now, it is sharing its know-how on environmental management with countries vulnerable to environmental destruction. For example, Japan has provided such countries with a weather information system. It is also bolstering the capabilities of the environment management authorities of these countries. Patrol vessels provided to Sri Lanka at the height of its X-Press Pearl disaster, are a proof of this, Masahiro said.

Among other things, Masahiro explained that environmental disasters are occurring all over the world although some parts of the Indian Ocean region are experiencing growth. He added that environmental issues need to be identified and resolved early.

The Japanese Parliamentary Vice Minister for Foreign Affairs was speaking at the forum, ‘Disaster Risk Management and Japan’s Role in the Indian Ocean Rim Association’, conducted under the aegis of The Lakshman Kadirgamar Institute of International Relations and Strategic Studies’, Colombo (LKI) in collaboration with the embassy of Japan in Sri Lanka, on October 13th at the LKI auditorium. He, along with State Minister for Defence Pramitha Bandara Tennakoon, were Guests of Honour at the forum, which was moderated by Dr. Harinda Vidanage, Director, International Relations and Founding Director, Centre for Strategic Assessment of the General Sir John Kotelawala Defence University.

Kicking-off the forum, LKI’s Executive Director, Ambassador Ravinatha Aryasinghe thanked Japan for her continued support for Sri Lanka as the latter builds disaster resilience through investments and capacity building. He added: “As Sri Lanka assumes the chair of the Indian Ocean Rim Association, this event was the first in a series of IORA-related conferences and panel discussions being hosted by the LKI, which will bring together a foreign policy-concerned community to discuss several issues on the IORA agenda, including ‘Biodiversity Beyond National Jurisdictions’, with the EU, ‘Blue Economy, the Way Forward’, with the UNDP and ‘Maritime Safety and Security in the Indian Ocean Region’, with UNODC.”

State Minister for Defence Tennekoon pointed to the importance of preventing smuggling operations by criminal elements in the Indian Ocean region. Some salient points made by him were: ‘Japan has taken a lead role in taking risk-management initiatives in the Indian Ocean Region (IOR). With security cooperation in mind, Japan is working along with Sri Lanka’s Coast Guard.

‘We need to be proactive in managing environmental disasters. Even though Sri Lanka did not face any major environmental disasters between 2016 and 2021, Rs. 60 billion by way of relief assistance was provided by the government. But mitigation measures are important. Japan has made valuable contributions in the area of disaster resilience. Japan’s assistance to Sri Lanka during the 2004 tsunami tragedy was most valuable.’

Director General, Disaster Management Centre, Sri Lanka, Maj. Gen. Sudantha Ranasinghe, among other matters, reiterated the need for Sri Lanka to be constantly vigilant about oceanic disasters. Sri Lanka, he said, has already conducted a comprehensive study on disaster risk reduction with Japan. Six other such projects with Japan are ongoing and we need to consistently collaborate with IORA, he added.

Prof. Nagami Kozo, Specially Appointed Professor, International Research Institute of the Disaster Science, Green Goals Initiative, Tohoku University, highlighted the importance of shifting from managing disasters to managing disaster risk. He explained that disaster risk could be controlled. There is also little discussion on what to invest in, in this context.

Chief Representative of the Japan International Coordination Agency in Sri Lanka (JICA), Yamada Tetsuya said that over the past 50 years, 2 million people had died the world over in natural disasters. The resulting economic loss was 3 trillion USD. He stressed the importance of the Sendai Framework for Disaster Risk Reduction in Japan’s efforts at managing environmental issues and pointed out that JICA’s approaches to disaster risk management were in accordance with this framework.

A.J.M. Gunasekera, Gen. Manager (Actg.), Marine Environment Protection Authority, pointed out that, going forward, there is a big likelihood of environmental issues escalating the world over. He said that Sri Lanka’s X-Press Pearl disaster should be regarded as an eye opener. ‘We have to put in place mechanisms to contain such accidents. However, finger-pointing among our agencies has been the order of the day.’

He added: ‘Sixty percent of environmental disasters are caused by human error and there has been an increase in ship-related accidents in our waters over the last five years. But there is no sufficiently effective response mechanism locally on marine disasters. Nor is there any mechanism for information-sharing among regional states. Locally, there needs to be clear procedures and chains of command to manage environmental disasters. There also needs to be more financial investments, with adequate private sector participation, to manage issues in this field. ‘

‘Sri Lanka is currently faced with considerable marine disaster preparedness challenges that are going inadequately addressed. It is of note that there is no mechanism to respond to the prevalence of hazardous material in our waters. We lack sufficiently trained manpower to tackle major sea disasters in our region as well. We also possess very little equipment to respond effectively to sea-related accidents and disasters. There is also very little legal provision in our laws to enable us to win adequate compensation for disasters occurring in our seas caused by external quarters. Sri Lanka could address such challenges to a degree through effective regional mechanisms coming under IORA.’

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GREAT 2025–2030: Sri Lanka’s Green ambition meets a grid reality check

Published

11 hours ago

2026/02/7

Thilina Walpola

Sri Lanka’s Renewable Energy Project Development Plan, branded GREAT 2025–2030 (Green Energy Acceleration Targets), reads like a confident pivot toward a cleaner, cheaper power system. With more than 2,600 MW of new renewable capacity planned—dominated by solar and wind—and a strong push on storage and grid stabilisation, the strategy signals intent. Yet beneath the headline numbers lies a harder business truth: generation is racing ahead of the grid, and unless infrastructure and control catch up fast, value will leak from an otherwise compelling transition.

At the core of GREAT is scale. Solar leads with 1,571 MW across multiple zones, while wind contributes 1,004 MW, primarily from Mannar, Kilinochchi and the North-Western belt.

Smaller but steady additions are planned in mini-hydro (51 MW) and biomass (38 MW). On paper, the mix lowers marginal costs, cuts imports, and insulates the economy from fuel price shocks—outcomes financiers and policymakers both welcome.

But a senior retired electrical engineer, who spent decades inside Sri Lanka’s power system, cautions that capacity alone doesn’t create reliability—or returns.

“We are adding megawatts faster than we are adding visibility and control,” he said. “Rooftop solar has already exceeded 1,350 MW, much of it invisible to operators. From a grid perspective, that is unmanaged generation, and unmanaged generation is risk.”

The business implications are immediate. Transmission bottlenecks, particularly delays in 220 kV and 400 kV lines, are constraining renewable evacuation. Projects commissioned on time can still face curtailment, eroding project IRRs and shaking investor confidence.

At the same time, electricity demand has softened amid economic pressures, compressing the system’s ability to absorb intermittent power—especially on Sundays and holidays, when demand dips but solar output peaks.

“Low demand days are now the stress test,” the engineer noted. “Without storage and grid-forming assets, you’re forced to back down renewables or keep thermal units running for stability. Both options cost money.”

GREAT attempts to address this with 650 MW / 2,250 MWh of Battery Energy Storage Systems (BESS) and 600 MW of pumped storage at Maha Oya by 2034, alongside synchronous condensers to maintain inertia. These are not optional add-ons; they are value enablers. Storage smooths volatility, captures excess midday solar, and shifts energy to peak hours—turning stranded electrons into bankable revenue.

Yet timing matters. Storage, controls, and transmission must arrive before or with new generation. Otherwise, developers face curtailment risk, lenders price in uncertainty, and tariffs fail to fall as promised.

The plan’s institutional fixes are equally commercial. A Renewable Energy Control Desk (from 2026), Distribution Control Centers in high rooftop solar areas, smart meter mandates, and grid digitalisation are designed to restore operational visibility. Time-of-use tariffs, paired with daytime EV charging and industrial load-shifting, aim to reshape demand—turning a system problem into a market opportunity.

“Tariffs are signals,” the engineer said. “If you want power used at noon, price it right. If EVs and factories move load to the day, solar becomes an asset, not a headache.”

For investors, the message is nuanced but clear. Sri Lanka’s renewable pipeline is real and sizeable.

The policy direction favours clean energy, and the cost curve is attractive. However, project bankability will increasingly hinge on grid-readiness—access to storage, firm evacuation paths, and participation in smart, controllable networks.

For policymakers, GREAT’s success will be measured not by megawatts announced, but by megawatt-hours delivered reliably and profitably. Accelerating transmission approvals, fast-tracking BESS procurement, and enforcing smart metering for distributed generation are the difference between a virtuous transition and a congested one.

“The transition is inevitable,” the engineer concluded.

“The question is whether we do it cheaply and safely, or pay twice—once for generation, and again for the fixes we delayed.”

GREAT 2025–2030 sets Sri Lanka on the right path. The business case now depends on execution—where grids, markets, and management must move at the same speed as ambition, he added.

By Ifham Nizam

Business

Zone24x7 enters 2026 with strong momentum, reinforcing its role as an enterprise AI and automation partner

Published

11 hours ago

2026/02/7

Thilina Walpola

Zone24x7 team

Zone24x7 concluded 2025 with significant industry recognition, securing seven awards across three leading technology competitions—marking one of the strongest years in the company’s 22-year journey. The awards recognized the Industrial Vending Machine solution developed for a client in Australia. It earned both national and regional honors, including Second Runner-up at the Asia Pacific ICT Alliance (APICTA) Awards 2025.

More than accolades, the recognition showcases Zone24x7’s ability to deliver practical, enterprise-ready solutions that create measurable business impact. Competing against leading technology companies across the Asia Pacific region, the wins highlight the company’s growing global footprint and its focus on translating innovation into operational value for customers.

Neschae Fernando, CEO of Zone24x7

Zone24x7’s award run began at the SLASSCOM National Ingenuity Awards 2025, where the company secured National Winner for Best Innovative Product in Manufacturing, National 1st Runner-up for Best Innovative Product (General), and two Provincial Winner titles in the Western Province. This success continued at the National ICT Awards (NBQSA 2025), with Gold in Manufacturing, Engineering & Construction, and the IoT Technology of the Year Award.

“2025 validated our approach of building technology around real business needs,” said Neschae Fernando, CEO of Zone24x7. “As we move into 2026, our focus is on helping enterprises improve productivity, visibility, and decision-making by applying AI, automation, and connected systems in ways that go far beyond standalone tools or chat-based solutions.”

Headquartered in the United States with a world-class technology hub in Sri Lanka, Zone24x7 serves over 50 enterprise customers across multiple industries. The company specializes in integrating artificial intelligence, IoT, and enterprise platforms to solve complex operational challenges at scale.

Its portfolio includes Generative AI capabilities that enhance workflows, system intelligence, and human productivity; AI-powered automation platforms that connect digital and physical data sources; and a Cognitive Vision Analytics Platform that delivers real-time insights from video and image data. In addition, Zone24x7 provides RFID-enabled solutions and Warehouse Management Systems that improve inventory accuracy, asset visibility, and supply chain performance.

“The value we bring lies in how we combine hardware, software, and AI into cohesive solutions that fit seamlessly into existing enterprise environments,” said Vipula Liyanaarachchi, General Manager at Zone24x7. “As organisations look ahead to 2026, we are focused on helping them scale efficiently, modernise operations, and unlock greater value from their data without disruption.”

The award-winning Industrial Vending Machine reflects this approach, integrating IoT hardware, intelligent software, and analytics to automate inventory control and enhance efficiency in manufacturing and industrial settings. Rather than being a standalone product, it demonstrates how Zone24x7 partners with clients to design solutions aligned to specific operational goals.

With more than two decades of experience and a strong research and development foundation, Zone24x7 is now investing further in advanced AI-driven automation, intelligent analytics, and system-agnostic architectures. As businesses navigate rapid technological change, the company is positioning itself as a long-term partner—helping enterprises adopt AI responsibly, enhance workforce productivity, and build resilient operations into 2026 and beyond.

Business

India’s Mazagon Dock Shipbuilders makes mandatory offer to buy remaining shares of Colombo Dockyard

Published

11 hours ago

2026/02/7

Thilina Walpola

India’s Mazagon Dock Shipbuilders Limited has made a mandatory offer to buy the remaining shares of Colombo Dockyard at Rs 40 each, following a 41.73 percent stake acquisition last month.The mandatory offer targets 58.27 percent of the company.

At the recent rights issue, Mazagon Dock Shipbuilders bought 164,916,229 ordinary shares of Colombo Dockyard from the unsubscribed rights entitlement of previous stakeholder Onomichi Dockyard Company.

Mazagon paid Rs 40 per share amounting to a total Rs 6,596,649,160 .

Both indices moved upwards. The All Share Price Index went up by 67.5 points, while the S and P SL20 rose by 23.57 points. Turnover stood at Rs 9.1 billion with 16 crossings.

Top seven crossings were reported as follows: Commercial Bank 9.7 million shares crossed to the tune of Rs 1.2 billion and its shares traded at Rs 224.50, TJ Lanka 14.3 million shares crossed to the tune of Rs 549.7 million; its shares sold at Rs 38.50, Renuka Hotels one million shares crossed to the tune of Rs 250 million; its shares sold at Rs 250, Melstacorp one million shares crossed to the tune of Rs 178 million; its shares fetched Rs 179, Sampath Bank 930,000 shares crossed for Rs 145 million and its shares traded at Rs 150, Sierra Cables two million shares crossed for Rs 74 million; its shares sold at Rs 37 and Lanka Milk Food one million shares crossed for Rs 71 million; its shares fetched Rs 71.

In the retail market companies that mainly contributed to the turnover were; Colombo Dockyard Rs 514 million (3.3 million shares traded), Ceylon Land Equity Rs 349 million (15.6 million shares traded), Sierra Cables Rs 339 million (1.4 million shares traded), Commercial Bank Rs 307 million (1.4 million shares traded), TJ Lanka Rs 247 million (6.5 million shares traded), Luminex Rs 232 million (19.6 million shares traded) and Renuka Foods Rs 180 million (11 million shares traded). During the day 311 million share volumes changed hands in 50661 transactions.

It is said that the market showed mixed reactions. The banking sector actively participated, especially Commercial Bank. The manufacturing sector also performed well.

Yesterday the rupee was quoted at Rs 309.30/40 to the US dollar in the spot market, stronger from Rs 309.45/50 the previous day, while bond yields continued to edge lower on the the mid- to long end of the yield curve, dealers said.

A bond maturing on 15.06.2029 was quoted at 9.45/50 percent.

A bond maturing on 15.09.2029 was quoted at 9.50/55 percent.

A bond maturing on 15.12.2029 was quoted at 9.52/58 percent, down from 9.55/60 percent.

A bond maturing on 01.07.2030 was quoted at 9.68/71 percent.

A bond maturing on 01.10.2032 was quoted at 10.21/24 percent, down from 10.23/25 percent.

A bond maturing on 01.06.2033 was quoted at 10.55/60 percent, down from 10.57/60 percent.

A bond maturing on 15.06.2034 was quoted at 10.77/80 percent.

A bond maturing on 15.06.2035 was quoted at 10.80/86 percent, down from 10.82/87 percent

By Hiran H Senewiratne