Business

Sri Lanka Masters Hockey Men teams to take part in 2022 World Cup in England

Published

4 years ago

2022/08/13

Sri Lanka Masters Hockey men teams left the country on Tuesday, August 9th 2022 to take part in the second Masters Hockey World Cup scheduled to be held from August 12-21 in Nottingham, England. Sri Lanka will play in both over 35 and over 40 age categories. The teams comprising of past national players have been preparing for the World Cup tournament for the last one year despite difficult conditions owing to the COVID-19 pandemic and economic crisis in the country.

Sri Lanka national hockey team is currently ranked 34th in the world, 8th in Asia and 4th in South Asia. It has improved from 40th place in 2018. However, the poor infrastructure with two unusable Astro turf artificial hockey grounds and lack of sponsorships have deprived the sport to be played at its best.

Sri Lanka Masters Hockey Association (SLMHA) was established in 2012 with an objective to uplift the game through the veterans who have played for the national team against mighty opponents and won when the country did not have sufficient resources. The SLMHA has united most of the past national players to achieve this goal though it has been a tough challenge due to multiple constraints. The veterans’ body had been able to have some training programme for selected rural schools which lack facilities, hold two Masters Hockey Leagues and send an over 40 team for the first time to the Masters World Cup in Barcelona, Spain four years ago. The team won against Denmark and ranked well in the 2018 World Cup.

Sri Lanka national hockey team has never played in a World Cup as other countries in Asia including India, Pakistan, and Japan who have been at the top in the game. The game has suffered as there has been hardly any sponsors to look into the financing matter. The SLMHA initiated the move to participate in the Masters World Cup in 2018 to give more exposure to the veterans with an aim to give the younger generation for the betterment of the game.

In over 35 age category, Sri Lanka will play in A group which comprises of England, Spain, Ghana, and South Africa, while the island nation will play against mighty Germany, South Africa, England, France, Wales, and Ireland in the over 40 teams.

This will be Sri Lanka Masters Men hockey team’s second World Cup tournament in the history. It participated in the 2018 World Cup held in Barcelona, Spain and won against Denmark by 2-1 in a ranking competition.

This year, the over 35 age group will play its first match against Spain while the over 40 will play their first game against Germany at University Boulevard grounds in Nottingham on August 12, the first day of the tournament.

The over 35 team will be led by P. Heenatigala, a former national hockey player who also has represented police and army in his career, while Upul Fernando, a Vennappuwa forward who is now playing for CH & FC will be the vice-captain.

The over 40 team will be led by Devan Chaminda Perera, a double international (Hockey and Soccer) veteran who led both junior and senior Sri Lanka national hockey teams during his national duty, while Nadith Kudagama, one the best dribblers Sri Lanka has produced will be the vice-captain. The team will return on August 24 after the completion of the tournament.

Sri Lanka National Masters Hockey Association is obliged to thank the dedicated coaches Otto Preena and Ashok Peiris who have molded and mentored the teams with their decades of international experience. Preena was the head coach when the Masters over 40 participated in the last World Cup in Spain.

“It is a tough tournament and we know it is not going to be easy,” Duncan Devendra, the Secretary of Sri Lanka National Masters Hockey Association said. He further stated that “Without this kind of exposure, we cannot improve hockey in this country where Sri Lanka was almost in par with India and Pakistan in 1960s and seventies.”

The Sri Lanka Tourism Promotion Bureau is the main sponsor of the World Cup participating teams while national carrier Sri Lankan Airlines has come forward as the official airline partner and Nippon Paint Lanka (Pvt) Ltd is the co-sponsor for the team.

“We are happy to be the main sponsor as we saw an opportunity to promote Sri Lanka tourism at the World Cup to boost forex inflows at a desperate time amid economic crisis. These hockey Masters could be the best Ambassadors to do that,” says Mr. Chalaka Gajabahu, Chairman, Sri Lanka Tourism Promotion Bureau.

“Sports Tourism can be a major way of creating unity and friendship with other nations, and spreading a positive message about Sri Lanka to the world, giving a realistic image and a clear description about the island destination. These players are the ideal ambassadors to do so. With their performance and also with their representation, they will be able to encourage travelers from all across the world to be interested and seek more about Sri Lanka with its hospitality, friendly people, diversity and easy accessibility of locations, and also as their future travel destination. I see this as a marvelous opportunity to showcase Sri Lanka to the world, and also to bring more revenue to the country and rejuvenate the Tourism sector, which is crucial as Sri Lanka is facing a rather turbulent time.”

“We also expect to host a similar world cup tournament as this in the near future, with 18 countries participating. So it will be another major influence on promoting the destination across the world. I wish the Sri Lanka Masters Hockey teams the best of luck with their endeavors to keep the nation’s flag flying high, and to continue with their good work,” Mr. Gajabahu says.

“This is not a short term goal, but rather a long term one because many of the foreigners who hear about Sri Lanka could visit the country in the future. We see it as a golden opportunity through this partnership.” he further added.

Sri Lankan Airlines is the official airlines partner for the World Cup tour.

“It is a good niche place to market Sri Lankan Airlines and tourism. We see value in this partnership and for the first time, we are partnering with Sri Lanka Masters hockey men teams. We hope this will be a win-win partnership for the country, hockey, and the Airline,” Richard Nuttall, the Sri Lankan Airline CEO, said.

Nippon Paints Lanka (Pvt) Ltd has come on board as the cosponsor for the World’s largest hockey carnival.

“We are thrilled in partnering with the veteran hockey teams and this is the first time we are doing something of this nature. Hockey is a sport that has been long neglected and needs to be nurtured carefully if we are to perform well. We do this as one of our corporate social responsibilities to improve the standards of the sport in the country,” Nemantha Abeysinghe, the Group General Manager of Nippon Paint Lanka (Pvt) Ltd said.

“We are in fact delighted to have come on board with Sri Lanka Masters National Hockey Association for the recently concluded 9-A-side league tournament & the upcoming Masters tour of England 2022. We are planning to have a long-standing relationship with the Masters after having come for the first time as a sponsor for Hockey,” Abeysinghe added.

Teams Over-35 Men

Prasanna Heenatigala (Captain), Sathiya Rasiah, Dananjaya Peiris, Upul Fernando (Vice-Captain), Pasan Mallawaarachchi, Thushara Manoj, Roshan Thotagamuwa, Priyadarshan Kiridaran, Nicholas Anthony, Sherwin Moral, Kaveendra Nanayakkara, Suranjith Devamullage, Dinesh Jayakody, Joy Rasanayagam, and Hasantha Jasinarachchi.

Over-40 Men

D.C. Perera (Captain), Kasun Herath, Linus Jayasekaran, Diluka Weerasooriya, Yohan Lewke, Sanjay Edgar, Shihar Aneez, Sampath Subasinghe, Lushantha Perera, Marlon Jacobs, Mahesh Matiwala, Duncan Devendra, Nadith Kudagama (Vice-Captain), Ashok Peiris, Anuradha Fernando, and Deepike Kariyawasam

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Business

Seylan Bank well-positioned for growth as core performance strengthens

Published

13 hours ago

2026/04/23

Sahan Weerasooriya

Seylan Bank PLC has delivered a resilient financial performance for 2025, surpassing market forecasts and signaling a steady recovery in its underlying credit profile, according to a recent equity research update by First Capital Holdings PLC.

The bank recorded a net profit of LKR 12.2 billion for the full year 2025, marking a significant 20.3% year-on-year increase. Performance in the final quarter was particularly notable, with net profit reaching LKR 3.8 billion, a 9.4% rise compared to the same period in 2024. This result exceeded analysts’ expectations by 5.4%, underscoring the bank’s strengthening fundamentals.

Core banking operations remained a primary driver of growth. Net interest income (NII) expanded by 18.3% year-on-year to LKR 11.3 billion in 4Q2025. This was supported by an 8.3% increase in interest income and a marginal contraction in interest expenses, reflecting highly favorable funding dynamics.

Total operating income surged by 51.1% in the final quarter, a sharp jump largely attributed to the absence of International Sovereign Bond (ISB) restructuring losses that had impacted the previous year’s performance. Fee and commission income also saw robust growth of 21.8%, fueled by increased activity in cards, remittances, and international trade.

A standout highlight for the period was the aggressive expansion of the bank’s loan book, which grew by 29.6% year-on-year to reach LKR 599.8 billion by the end of 2025. The deposit base also grew by 13.3%.

Asset quality showed marked improvement as the bank successfully navigated the tail-end of the economic recovery. The Stage 3 loan ratio, a key indicator of credit risk, fell to 1.03% in 4Q2025, down significantly from 2.10% a year earlier. This was further bolstered by a 95.1% contraction in impairment charges on loans and advances, reflecting a move toward more stable provisioning.

Seylan Bank’s capital and liquidity positions remain a source of strength, staying comfortably above regulatory requirements. The bank’s Total Capital Ratio stood at a healthy 17.89%, while the liquidity coverage ratio remained elevated at nearly 230%, providing ample buffers to support future lending.

Looking ahead, First Capital projects a more moderated pace of growth as the broader economic momentum eases and the monetary easing cycle reaches its trough. Nevertheless, analysts remain optimistic, projecting net profits to rise to LKR 15.9 billion in 2026 and LKR 18.4 billion in 2027.

While the bank’s estimated fair value for 2026 has been revised to LKR 140 per share to reflect market re-rating trends, the stock still offers a compelling total return of approximately 37%. A newly introduced 2027 fair value of LKR 155 implies an even higher potential return of 52%. Citing these strong fundamentals and the significant upside potential, the First Capital report maintains a “Buy” recommendation on Seylan Bank.

By Sanath Nanayakkare

Business

Bank of Ceylon reinforces national economic vision with 2025 Annual Report presentation

Published

13 hours ago

2026/04/23

Sahan Weerasooriya

In a significant moment reflecting renewed confidence in Sri Lanka’s economic recovery and forward-looking national strategy, the Bank of Ceylon (BOC) formally presented its 2025 Annual Report to His Excellency President Anura Kumara Dissanayake. The occasion reaffirmed the Bank’s role as the nation’s leading financial institution and a key pillar of economic stability.

The report was officially handed over by Chairman Mr. Kavinda De Zoysa and General Manager/Chief Executive Officer Mr. Y. A. Jayathilaka, who outlined the Bank’s performance, resilience, and strategic direction during a pivotal phase for Sri Lanka’s financial sector.

BOC’s 2025 Annual Report highlights a strong financial performance, with PBT reaching Rs. 120.8 billion, reinforcing its position as one of the most profitable single entities in the country. Beyond profitability, the Bank made a substantial contribution to the national economy, remitting approximately Rs. 77 billion in taxes underscoring its vital role in supporting fiscal stability and national development.

Business

Govt. assures policy consistency in energy sector

Published

13 hours ago

2026/04/23

Sahan Weerasooriya

Minister Anura Karunathilake assumes duties.

Despite a reshuffle at the helm of energy sector, the government has moved swiftly to reassure markets, investors, and industry stakeholders that policy continuity—not disruption—will define the road ahead.

Newly appointed Power and Energy Minister Anura Karunathilake, assuming duties at a moment of heightened scrutiny, made it clear that the administration’s core commitment remains unchanged: uninterrupted supply of electricity and fuel, regardless of political transitions.

His remarks come at a critical juncture for the country’s energy economy—still recovering from past volatility, navigating global price pressures, and attempting to build investor confidence in long-term infrastructure and generation projects.

Addressing journalists following his appointment, Karunathilake struck a notably measured tone, signaling stability rather than reformist disruption.

“The national energy policy is anchored in long-term objectives. There is no shift in direction,” he said, in what analysts interpret as a deliberate message to both domestic and foreign investors wary of policy reversals.

Energy economists note that Sri Lanka’s power and fuel sectors remain deeply sensitive to political signals. Even minor uncertainty can ripple through procurement cycles, independent power producer (IPP) negotiations, and fuel hedging strategies.

By emphasizing continuity, the government appears intent on avoiding the stop-start policy cycles that have historically plagued the sector.

The transition follows the resignation of former Minister Eng. Kumara Jayakody and Ministry Secretary Prof. Udayanga Hemapala on April 17, a move widely viewed as an attempt to ensure the independence of an ongoing Presidential Commission probing coal procurement processes.

From a governance perspective, the resignations may serve to reinforce institutional credibility—particularly at a time when transparency in energy procurement is under intense public and political scrutiny.

Karunathilake acknowledged opposition criticism regarding transparency but responded with a firm challenge: present concrete evidence to investigative authorities rather than litigating issues through media narratives.

Perhaps the most market-sensitive assurance came in the Minister’s outright rejection of imminent power cuts.

Energy supply stability remains a cornerstone of economic recovery. From export manufacturing to tourism and digital services, uninterrupted electricity is non-negotiable.

Karunathilake indicated that groundwork laid by his predecessors—including generation planning and fuel supply arrangements—has already mitigated immediate risks.

“If those plans are implemented effectively, there will be no need for power cuts,” he said, positioning his role as one of policy support and execution oversight rather than structural overhaul.

Industry observers point out that this continuity is crucial. Any disruption in electricity supply could directly impact industrial output, SME operations, and investor sentiment—particularly as Sri Lanka courts foreign direct investment in energy-intensive sectors.

On the fuel front, the minister acknowledged the reality that global price movements—exacerbated by geopolitical tensions in the Middle East—remain beyond Sri Lanka’s control.

For businesses, especially logistics operators, fisheries, and agriculture, fuel price predictability is as critical as supply continuity. Sudden spikes can erode margins and disrupt planning cycles.

Karunathilake’s assurance that supply will remain uninterrupted, regardless of external shocks, is therefore likely to be welcomed by key economic sectors.

By Ifham Nizam