Business
Teejay supports project which creates a 9-km forest corridor on the banks of Maskeli Oya
Joins forces with ‘WNPS PLANT’ to part fund reforesting of over 50 Hectares
Leading textile manufacturer Teejay Lanka PLC has pledged funding support towards part of the reforestation of a nine-kilometer section of the banks of the Maskeli Oya, a major upstream tributary of one of Sri Lanka’s most important rivers, the Kelani.
Connecting to the foothills of the Peak Wilderness Sanctuary, the initiative is supported as part of the Company’s sustainability road-map and will enhance water quality, reduce human animal conflict, and contribute to combating climate change as well, a Teejay news release said.
The project, on land in the Maskeliya Upcot valley that is to be released for the purpose by the Hayleys Group’s Horana Plantations PLC, is being executed and managed by Preserving Land and Nature (Guarantee) Limited (PLANT), a company established by the Wildlife and Nature Protection Society (WNPS) of Sri Lanka, Sri Lanka’s largest and most active conservation entity.
A Memorandum of Understanding entered into by Teejay and PLANT (www.plantsl.org) envisages the regeneration of forest cover on 30 to 50 feet wide continuous strips of land on the opposing banks of the waterway. Five project segments combine, forming a nine-kilometer forest corridor that will create over 50 hectares of new forest, with one of these segments funded by Teejay.
Teejay Lanka CEO Mr Pubudu De Silva said the two-year project would be a significant element of the Company’s ‘Abhivarah 2030’ sustainability road map and generate valuable carbon credits, while helping restore one of the country’s most scenic natural habitats to its pristine state. “Teejay is also focused on initiatives to improve the environment in and around the Kelani River and its related ecosystems, and this project is a perfect extension of that commitment,” he said.
Speaking at the signing of the MoU, PLANT Chairman Sriyan de Silva Wijeyeratne commended Teejay for the company’s solid commitment towards nature preservation and for the many groundbreaking initiatives it is taking. “PLANT is fortunate to have visionary partners like Teejay coming forward to set an example for others to follow,” he added.
The forest corridor that is to be created by PLANT as part of this reforestation project will comprise of multiple tree species including Tel-keena (Calophyllum walker) Kudu dawula or dawul Kurundu – (Neolitsea cassia) Gal-Weralu (Elaeocarpus subvillosus) and Kenda (Macaranga sp.) among others, thereby helping to enhance the biodiversity of the area, prevent soil erosion and flooding.
PLANT was set up with the aim of acquiring privately-owned lands outright or on a long-term lease for the purpose of conservation and to collect funds for the purpose of conservation, while also working to leverage lands which are owned by Partners themselves. PLANT currently supports more than 2,500 Acres of conservation footprint in over 20 locations with the help of multiple local and global partners
Teejay’s ‘Abhivarah 2030’ road-map aims to plant one million trees and achieve net zero carbon emissions by the company by 2050. Developed in alignment with the UN’s Sustainable Development Goals, its three principal pillars are defined as Responsible Consumption – doing more with less; Responsible Discharge – waste to wealth; and Support Thriving Planet – to earth with love. Among its targets are achieving zero toxic chemical usage and discharge, transition to renewable energy sources, and reducing water intensity consumption by 50%, to achieve a 100% sustainable product portfolio.
An ISO 9001:2015, ISO 14001:2015, ISO 45001: 2018 and Eco Labeling compliant company and the first in the industry to develop green fabric, Teejay Lanka was also the first textile manufacturer in Sri Lanka to receive membership of the US Cotton Trust Protocol. Teejay is a public quoted company with 40 per cent public ownership and the backing of Sri Lanka’s largest apparel exporter Brandix Lanka which has a 33 per cent stake in the Company. Pacific Textiles of Hong Kong, whose key shareholder is the Tokyo Stock Exchange listed Toray Industries Inc., owns 27 per cent of Teejay Lanka.
Business
Canada Day celebration highlights deepening Sri Lanka-Canada business ties
The vibrant celebration of Canada’s 159th National Day in Colombo brought together diplomats, government representatives, leading business executives and members of the Sri Lankan and Canadian communities, highlighting the growing strength of bilateral economic and commercial relations between Sri Lanka and Canada.
Hosted by the Canada Sri Lanka Business Convention (CanCham Sri Lanka), the event attracted one of the largest gatherings in its history, providing an important platform for business networking while celebrating the enduring friendship between the two countries.
Addressing the gathering, High Commissioner for Canada in Sri Lanka and the Maldives Isabelle Martin said Canada and Sri Lanka continue to enjoy a warm and expanding partnership built on shared values, people-to-people links, trade, investment and development cooperation.
“Canada Day is an opportunity not only to celebrate our country but also to celebrate the strong friendships and partnerships we have built with Sri Lanka.
The remarkable turnout this evening reflects the strength of those relationships and the growing collaboration between our two nations,” Martin said.
She noted that the close engagement between Canadian and Sri Lankan businesses continues to create new opportunities in trade, innovation, education, sustainable development and investment.
CanCham Sri Lanka officials said this year’s celebration was among the most successful Canada Day events ever organised by the Chamber, drawing an outstanding crowd and creating exceptional opportunities for business networking.
“What an incredible celebration of Canada Day. This was truly one of the most successful Canada Day celebrations in history, with an outstanding crowd and exceptional networking opportunities. It was wonderful to see so many distinguished guests, business leaders and community members come together,” the organisers said.
They thanked sponsors, partners, supporters and volunteers whose dedication ensured the success of the event.
The evening showcased Canada’s multicultural heritage while reaffirming the Chamber’s commitment to promoting stronger commercial links between Sri Lanka and Canada.
Guests representing a wide cross-section of industries exchanged ideas on expanding trade, investment and innovation partnerships.
Canada remains an important economic partner for Sri Lanka, with bilateral trade spanning apparel, agriculture, seafood, ICT services, education and professional services.
Canadian companies continue to explore opportunities in renewable energy, infrastructure, technology and sustainable development, while Sri Lankan exporters maintain a significant presence in the Canadian market.
Business leaders attending the celebration expressed confidence that closer collaboration between the two countries would further strengthen economic resilience and create new opportunities for investment, entrepreneurship and knowledge sharing.
The event concluded on a celebratory note, reaffirming the longstanding friendship between Canada and Sri Lanka and the shared commitment to fostering stronger business and people-to-people ties in the years ahead.
By Ifham Nizam
Business
Tokyo Cement inspires future-ready construction at BUILD BEYOND 2026 Technology Summit
Tokyo Cement hosted ‘Build Beyond 2026 Summit’, a premier knowledge-sharing conference that brought together leading academics, civil and structural engineering experts and professionals of the Sri Lankan construction industry. The event featured keynote addresses by renowned construction technology specialists, Professor Shashank Bishnoi from the Indian Institute of Technology (IIT) Delhi-Abu Dhabi, and Senior Professor Priyan Mendis from the University of Melbourne.
The summit marked the second edition of the Build Beyond Engineering Technology Summit organized by the Tokyo Cement Group, designed to foster collaboration between academia and industry while highlighting global trends, innovations, and emerging technologies in cement and concrete. This year’s discussions focused on advancements in material science that are driving more sustainable and cost-efficient construction practices.
The event drew participation from state-sector authorities, research institutions, academia, engineering students, and public and private sector organizations, creating a dynamic platform for engagement across the construction industry. A key feature of the summit was a high-level panel discussion on “Building a Resilient and Sustainable Construction Future,” featuring several distinguished industry leaders.
The panel included Eng. Nissanka Wijerathne, the Secretary General/CEO of the Chamber of Construction Industry Sri Lanka (CCI), Founder and Deputy Chairman of Civil & Structural Engineering Consultants (Pvt.) Ltd.; Eng. Shiromal Fernando, the Chairman of CTBUH Sri Lanka and Vice President of the Green Building Council Sri Lanka, Adjunct Senior Lecturer at the General Sir John Kotelawala Defense University and visiting lecturer at the University of Moratuwa; Eng.
Business
ComBank and Carmart join forces to make Peugeot and Leapmotor vehicles more accessible
Strengthening its commitment to making vehicle ownership more accessible and affordable, Commercial Bank of Ceylon has entered into a strategic partnership with Carmart (Pvt) Ltd. to offer specially structured leasing facilities for Peugeot and Leapmotor vehicles.
Formalised through a Memorandum of Understanding (MoU), the collaboration brings together the Bank’s expertise in flexible financing and Carmart’s portfolio of internationally recognised vehicle brands, creating a value-rich proposition for customers seeking to purchase new vehicles.
Under this MoU, valid until 30th June 2027, Commercial Bank will offer attractive interest rates, concessions on documentation charges, and a complimentary credit card with the first year’s annual fee waived. These benefits are designed to reduce upfront costs and ease the financial commitment associated with vehicle ownership.
With leasing facilities available through Commercial Bank’s island-wide branch network, a cross section of customers will be able to part-finance their vehicle purchases while structuring repayments to align with their income patterns, enabling greater financial flexibility.
Further enhancing the value proposition, Carmart (Pvt) Ltd. will offer customers a range of added benefits, including a complimentary full tank of fuel, free vehicle registration, and other exclusive privileges, making the overall vehicle ownership experience more rewarding.
The Bank said the partnership reflects its continued focus on delivering practical and customer-centric leasing solutions in collaboration with reputed vendors. By combining competitive rates with cost-saving concessions, the Bank aims to make vehicle ownership more attainable for both existing and new customers.
This collaboration is particularly significant in the current market context, as it offers customers the opportunity to benefit from preferential leasing terms while managing repayments in a way that suits their financial circumstances.
As a pioneer in leasing solutions, Commercial Bank continues to innovate through strategic alliances that enhance value, broaden choice, and support customers in achieving their lifestyle aspirations.
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