Business

The 30th Year of Kala Pola, Sri Lanka’s open Air Art Fair, a resounding success

Published

3 years ago

2023/03/31

Visitors strolling through

The 30th year of Kala Pola, Sri Lanka’s Open Air Art Fair, was celebrated recently in a riot of colour along Ananda Coomaraswamy Mawatha, Colombo 7. A long-term collaboration of the George Keyt Foundation and John Keells Group, Kala Pola is Sri Lanka’s largest and longest-running platform for artists and sculptors to showcase their talent and connect with buyers, industry professionals and the local art community. As the first art fair held since the COVID pandemic, the event drew a tremendous response, attracting 312 adult artists and 358 child artists and an estimated 33,000 visitors.

Gayani Perera, a first-time artist participating at Kala Pola, said: “This event was a good opportunity for me to network and interact with other artists and visitors. Now I know the preferences of the visitors and can prepare better. I brought around 36 paintings and sold 22 of them. I want to thank the George Keyt Foundation as well as John Keells Foundation for this opportunity!”

The official ceremony was graced by His Excellency Paul Stephens, the Australian High Commissioner to Sri Lanka and Maldives, as the chief guest together with The George Keyt Foundation Chairman, Malaka Talwatte and other Trustees and the Chairperson of the John Keells Group, Krishan Balendra accompanied by the senior management of the John Keells Group.

Addressing the audience, H.E. Paul Stephens said, “Art and Culture are a critical component of any society and are important in aiding social development and inclusion. They are also important sectors that contribute to economic growth and development, which are of particular importance to Sri Lanka, right now.”

Krishan Balendra, the Chairperson of John Keells Holdings PLC, said “Kala Pola has evolved over the years to be the primary platform for artists from all over the country to showcase and promote their work and support their livelihoods. Art & Culture is one of the six CSR pillars of the John Keells Group under the vision of ‘Empowering the Nation for Tomorrow’. We’re very proud to partner with The George Keyt Foundation as the sponsor and organiser of Kala Pola.”

Thanuja Jayawardena, a visitor to Kala Pola, shared, “It’s not an easy feat to bring together artists from all over the country, and the people who come for this event get a chance to experience and enjoy a variety of different art and styles in one stretch! I’m someone who has come to Kala Pola almost every year and made sure to find time to attend this year as well”

The 30th year of Kala Pola was a resounding success for artists and visitors alike, generating sales estimated at Rs. 35 million excluding commissioned art. Meanwhile, 110 children were hosted at the Children’s Art Corner managed by Elephant House where budding artists could experiment with paints and clay under the guidance of Cora Abraham teachers. The event was supported by 150 John Keells Group volunteers. In addition to its focus on visual art, Kala Pola also showcased a kaleidoscope of Sri Lankan performing arts including dance, drumming and folk singing in a carnival-like atmosphere.

As a 30th year commemoration, Kala Pola 2023 featured a “Top Five Artists Award” adjudged by a panel of art experts. The winners, in no particular order, Aloka Bandara, Chaminda Bandara, Kasun Manoj, Ruwan Mahindapala and Sandeepa Vithanage were awarded trophies and certificates at the official ceremony under the sponsorship of Nations Trust Bank, Private Banking.

The street fair is complemented by https://www.srilankanartgallery.com, the digital platform hosted by John Keells Foundation to showcase Sri Lanka’s visual artists throughout the year.

Art and Culture are one of the six focus areas of John Keells Foundation – the CSR entity of John Keells Holdings PLC (JKH), Sri Lanka’s largest listed conglomerates in the Colombo Stock Exchange operating over 70 companies in 7 diverse industry sectors. With a history of over 150 years, John Keells Group provides employment to over 14,000 persons and has been ranked as Sri Lanka’s ‘Most Respected Entity’ for the last 17 Years by LMD magazine. JKH has placed first for the third consecutive year in the ‘Transparency in Corporate Reporting Assessment’ by Transparency International Sri Lanka. Whilst being a full member of the World Economic Forum and a participant of the UN Global Compact, JKH drives its CSR vision of “Empowering the Nation for Tomorrow” through John Keells Foundation and through the social entrepreneurship initiative, ‘Plasticcycle’, which is a catalyst in significantly reducing plastic pollution in Sri Lanka.

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Business

Wealth Trust Securities to raise Rs. 500.8 million via IPO

Published

20 hours ago

2025/12/10

Thilina Walpola

Left to right: Timothy Speldewinde, Independent Non-Executive Director; Anarkali Moonesinghe, Non-Independent Non-Executive Director; Priyanthi Abeyesekere, Deputy CEO; Senaka Weerasooria, chairman (Non-Independent Non-Executive Director); Romesh Gomez, Managing Director/CEO (Non- Independent Executive Director); Tarusha Weerasooria, Non-Independent Non- Executive Director; Shanti Gnanapragasam, Independent Non-Executive Director; and Tivanka Perera, Vice President – Asia Securities Advisors (Pvt) Ltd.

The recent announcement of Wealth Trust Securities Ltd.’s Rs. 500.8 million Initial Public Offering -IPO- comes at a moment when Sri Lanka’s interest-rate environment is gradually easing, allowing well-capitalised primary dealers to expand their trading portfolios and secure long-term positions in government securities.

Company chairman Senaka Weerasooria told journalists in Colombo that the IPO is not merely a capital-raising exercise, but a reinforcement of the disciplined structure that has defined the company since its inception.

He noted that WTS enters the public market with what is already one of the most robust capital bases in the industry, and with “absolute confidence that investors are joining a journey that has consistently returned value.”

Weerasooria said the capital infusion will further solidify WTS’s ability to absorb volatility, particularly amid cyclical movements in Treasury yields.

Despite maintaining a conservative trading outlook, the company has managed to average a 31% ROE over the past twelve years — a figure management repeatedly highlighted as evidence of resilience across both tightening and loosening rate cycles.

Managing Director and CEO Romesh Gomez said that in recent months the direction of policy rates and market liquidity has begun shifting favourably, creating clear value-accretion opportunities for disciplined portfolio expansion. With additional capital, he noted, WTS has greater room to capture advantageous auction positions, broaden secondary market activity and align its investment scale to emerging market windows.

Gomez acknowledged that FY25 reflected compressed performance due to systemic realignment, with revenue at Rs. 4.6 billion and PAT at Rs. 1.2 billion. However, he pointed out that profit sustainability, even through a difficult cycle, speaks to strong operational controls. The A- rating with a Positive outlook continues to stand, reinforcing the company’s position as a stable counterparty in a specialised sector.

Asia Securities Advisors, managing the IPO, pointed out that the offer price of Rs. 7 presents meaningful upside when benchmarked against underlying valuation metrics. The move into the listed environment, they noted, enhances governance visibility — a point increasingly valued among institutional investors participating in the Government securities market.

By Ifham Nizam

Business

BoardPAC achieves Carbon Neutral Certification for the fourth consecutive year

Published

21 hours ago

2025/12/10

Thilina Walpola

BoardPAC, the global leader in digital board meeting automation, has secured the Carbon Neutral Certification for 2024, marking the fourth consecutive year the company has achieved this milestone. The certification, awarded by the Sri Lanka Climate Fund (SLCF) under the Ministry of Environment in October 2025, underscores BoardPAC’s commitment to environmental sustainability and responsible corporate governance.

BoardPAC’s operations, spanning over 40 countries, were assessed against the ISO 14064 – 1:2018 standard, and the company’s organization-level Greenhouse Gas (GHG) emissions were successfully offset, reflecting its ongoing commitment to reducing its environmental impact.

Business

Uber marks 10 years in Sri Lanka: Moving People, Powering Livelihoods, Impacting Communities

Published

21 hours ago

2025/12/10

Thilina Walpola

Uber today marked ten years of operations in Sri Lanka, a decade in which the platform has reshaped how people commute, and how thousands of Sri Lankans earn a livelihood. Over the past decade, ride-hailing has become one of the most transformative shifts in Sri Lanka’s urban mobility landscape, providing safe, reliable and affordable transport at scale.

Chathuranga Abeysinghe, Deputy Minister for Entrepreneurship, Ministry of Industries and Entrepreneurship Development, Government of Sri Lanka, graced the milestone event as the Chief Guest. U.S. Ambassador Julie Chung attended as the Guest of Honor, joined by Akanksha Singh, Head – South Asia Markets, Uber, and Kaushalya Gunaratne, Country Manager – Mobility, Uber Sri Lanka.

As per the 2024 Sri Lanka Economic Impact Report, compiled by global policy research firm – Public First, Uber and Uber Eats together generated over LKR 160 billion in economic activity in Sri Lanka within a single year. Since its entry in Sri Lanka in 2015, Uber rides have covered over 1.15 billion kilometers – equivalent to nearly 3000 trips from Earth to the moon! Over 320,000 Sri Lankans have earned through the platform as drivers.

Uber has also supported the tourism ecosystem, enabling more than 700,000 airport trips, connecting visitors seamlessly to their destinations. Over the last year, we’ve further intensified our service in the Western and Central provinces and expanded our offerings in the Southern and Northern provinces – bringing its services closer to more communities across the country. Uber has emerged as one of the most preferred ride-hailing platforms across the island, offering affordable, reliable, and safer rides at different price points.

Deputy Minister for Entrepreneurship, Ministry of Industries and Entrepreneurship Development, Government of Sri Lanka, Chathuranga Abeysinghe, said, “Over the past decade, Uber has become part of the fabric of daily life in Sri Lanka – not only by helping people get where they need to go, but by enabling thousands to earn an income with dignity and flexibility.