Business
The SL state’s enduring role in the CHEC Port City Colombo project
By Lynn Ockersz
The Sri Lankan state will exercise sovereign control over the CHEC Port City Colombo project and would remain accountable to the people of Sri Lanka by virtue of the fact that the project would remain open to scrutiny by the Sri Lankan parliament, Assistant Managing Director, CHEC Port City Colombo (Pvt) Ltd. Thulci Aluwihare told ‘The Island Financial Review’ in an interview.
Besides, all revenues received by the project would be remitted to Sri Lanka’s Consolidated Fund and would remain within the country, Aluwihare pointed out in a wide-ranging interview with this newspaper, where he debunked the allegation that the CHEC Port City Colombo project will be a ‘sell out’ to the Chinese, rendering the investment area a ‘Çhinese colony’. Besides, the Colombo Port City would not turn Sri Lanka into a ‘money laundering haven.”
Elaborating Aluwihare said: ‘Principal among our aims is the attraction of foreign investment to the country. $ 1.4 billion has been spent by the project company over reclaiming the relevant land from the sea. For a consideration, the state has granted a ‘No Lease Hold Right’ over 116 hectares of the project land which is the ‘master lease’. Under this arrangement 48 marketable blocks of land would be on offer for investment. What is of importance is that in all these transactions the state will be a principal party.
“Even if an investor obtains a “No Lease Hold Right” from the state in respect of a project, the investor would need to obtain a licence from the CHEC Port City Commission to operate. The Commission would issue such licenses with conditions. And the Commission holds the right to revoke such licenses if the conditions are not met.
“In all these transactions, the government of Sri Lanka is the lessor. The investor would be signing a lease with the government of Sri Lanka, who will be the landlord.
‘The majority of members of the Commission would be Sri Lankans. But we need experienced, competent people for this apex body. Accordingly, the Commission needs to enjoy some autonomy and independence as well in employing personnel.
“The anti-money laundering laws that have been operative in this country would continue to be enforced strongly. It is only loose regulatory laws that lead to problems like money laundering. But there will be no let-up by Sri Lanka on this score. The monetary authorities would continue to stringently apply the regulations but these regulations should also need to be market-driven. We expect sophisticated transactions though.
‘It is important to point out that the local courts will have jurisdiction in the Port City. Here too there is no dilution of the state’s sovereignty.
“Our region has progressed into a services economy. We need to compete with countries such as Singapore, India, Indonesia and Vietnam, for example, to attract FDI. You need to offer fiscal and other incentives to attract FDI to Sri Lanka. A dip of 40 per cent of FDI in Sri Lanka last year, drives the point home. But given our location, we are in a position to talk about Sri Lanka as a business destination.
“Of principal importance is the supply chain impact the Port City project would have on Sri Lanka. Local enterprises dealing with the Port City will be paid in dollars and not local currency. Even Sri Lankan SMEs which are part of the supply chain will be paid in dollars. There is also potential for local employment generation where the income earners will be paid in dollars.
“At present there are some 4000 employment opportunities for locals in the Port City. Currently, 1500 to 1800 locals are employed in the project. So, there are growing opportunities for locals in this initiative. They would get the opportunity to work for some the world’s most prominent brands in their own backyard and for dollar remuneration.
‘Sri Lanka produces 25,000 graduates annually. One third of these belong to the science, technology, engineering, mathematics and allied fields. But 20 to 25 percent of these graduates migrate. Our graduates could now work for a multinational company if the opportunities offered by the Port City project are availed of.”
Business
Sri Lanka’s first generative AI‑powered, trilingual insurance assistant
Sri Lanka Insurance Corporation General Limited (SLICGL) unveiled Beechat, the country’s first generative AI‑powered insurance assistant, heralding a milestone for Sri Lanka’s insurance industry and move towards digital services.
Beechat is designed to transform the customer experience. Available through the SLICGL website (https://www.slicgeneral.com/) and customer portal, the Assistant offers customers instant access to policy information, real-time claim status updates, and insurance-related help 24 hours a day, seven days a week.
For customers, Beechat makes insurance simpler and always available. Instead of waiting in queues, calling hotlines, or being limited to business hours, customers can check policies, track claims, and receive instant answers in Sinhala, Tamil, or English, empowering every customer, whatever their language, to manage their insurance with ease.
The inclusivity ensures every customer, regardless of language preference, can engage with insurance services seamlessly. The AI‑driven platform reduces complexity, eliminates delays, and builds trust. Ultimately, Beechat transforms insurance from a process often seen as slow and complicated into a smooth digital journey that fits modern lifestyles.
The launch of SLICGL Beechat is strategically important for the organization because it strengthens its position as a leader in innovation within Sri Lanka’s insurance industry. Introducing the country’s first generative AI‑powered, trilingual insurance assistant, SLICGL demonstrates a commitment to digital transformation and technology‑driven service excellence.
The initiative reaffirms the company as forward‑thinking and customer‑centric and differentiating from competitors who still rely on traditional service models. It signals to industry stakeholders that SLICGL is setting new standards for accessibility, efficiency, and convenience in insurance.
Pioneering AI‑driven customer engagement, the company sets a new benchmark. Beechat demonstrates how technology can elevate insurance from a traditional service into a dynamic, futuristic experience, strengthening SLICGL’s relationship with the people it services. (SLICGL)
Business
‘Lanka Tractors returns with a historic Colombo 11 showroom’
Lanka Tractors Limited officially reopened its original showroom in Colombo 11, marking the return of one of Sri Lanka’s most recognised agricultural machinery companies and the official launch of the ACE Tractor brand in the country.
Located at 343 Olcott Mawatha, Colombo 11, the showroom was ceremonially declared open by Chief Guest Dudley Sirisena, Chairman of the Araliya Group of Companies, in the presence of Upul Jayasuriya, Chairman of Lanka Tractors Limited, Thilina Abeysuriya, Managing Director, Nishantha Yapa, Head of Business, and Rajiv Gunawardena, CEO of Asia Asset Finance PLC.
Originally established in 1971 as the State Trading (Tractor) Corporation, Lanka Tractors was restructured in 1991 and became one of Sri Lanka’s largest importers and distributors of agricultural machinery. Over the decades, the company represented internationally renowned brands including Massey Ferguson, Kubota and TAFE, earning the trust of generations of Sri Lankan farmers through quality products, technical expertise and dependable after-sales support. The reopening of its original Colombo 11 showroom, first established in 1982, marks the revival of an institution that has played a pivotal role in the mechanisation of Sri Lankan agriculture for more than five decades.
The company’s revival commenced in late 2025 through an exclusive partnership with ACE Tractors, the agricultural division of Action Construction Equipment (ACE) Limited, one of India’s leading engineering and manufacturing companies. ACE manufactures tractors, agricultural machinery, construction equipment and industrial equipment, with annual production capacity exceeding 9,000 tractors, exports to more than 37 countries, and a dealer and service network spanning over 100 locations worldwide.
Prior to the commercial launch, Lanka Tractors adopted an extensive validation programme to ensure the products were ideally suited to Sri Lankan farming conditions. Three introductory models—the ACE VEER 3000 (26 HP 4WD), ACE DI 350 NG (40 HP 2WD) and ACE DI 450 NG (45 HP 4WD)—underwent rigorous field testing across multiple agricultural regions under the supervision of ACE technical specialists. Following several product refinements based on local operating conditions, the tractors were introduced to the market in April 2026.
Business
Akurugraphy exhibition opens at Geoffrey Bawa Space in Colombo
The desire to communicate and be understood is at the heart of what it is to be human. In contemporary life, digital infrastructure underpins how we work, live, and share information, but the letterforms that carry our languages are rarely neutral.
Arkurugraphy, a new exhibition at the Geoffrey Bawa Space, explores the history, culture, and future of letterforms across Sri Lanka’s three official languages. Presenting the decade-long practice of Colombo-based type foundry Mooniak, it examines how decisions about the digitisation of Sinhala, Tamil, and Latin scripts impact legibility and carry deep consequences for who is seen, who is heard, and whose language endures.
Writing systems carry human thought and knowledge across time and space. Letterforms can become a form of cultural artefact, unique graphic symbols representing identity and belonging. Today, these inherited letterforms often take shape as digital fonts, their design demanding fluency across history, aesthetics, linguistics, and technical standards. Akurugraphy asks audiences to look at letterforms beyond the act of reading: to appreciate their form, trace their past, and consider the decisions that impact their future.
Akurugraphy brings together typographic specimens, archival material, and software development spanning Mooniak’s full body of practice. It is a celebration of letterforms as art and an examination of the technical and political stakes of designing scripts for the digital age. As part of the exhibition, the Geoffrey Bawa Space will host a programme of monthly talks, curatorial tours, workshops, and children’s programmes.
Akurugraphy is open Wednesday through Sunday, 10:30 a.m. – 5:30 p.m., and will be on view until 8 November 2026. The exhibition is designed to be accessible and welcoming to all visitors. The Geoffrey Bawa Space offers step-free access and wheelchair accessible facilities. Tactile elements are available throughout the exhibition. More information is available at geoffreybawa.com/akurugraphy .
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