Business

UTE launches ‘Grow Your Own Food’ home gardening project for employees

Published

3 years ago

2022/10/28

Continuing in its mission to be the best engineering services provider in all the markets they serve, United Tractor and Equipment (Pvt) Limited (UTE), recognizes from its 75-year history that being the best means looking after their people. Continuing its mission UTE inaugurated its ‘Grow Your Own Food’ cultivation initiative on the 13th of September 2022. The project is designed with the aim of facilitating employee welfare and gearing them with skills that are required to overcome any possible food shortage in the future. In consideration of the ongoing economic situation in the country, this would further help UTE employees with sustainable means of food production. The launch of ‘Grow Your Own Food’ was graced by the Ambassador of the United States to Sri Lanka Ms. Julie Chung as Chief Guest, along with representatives of The American Embassy and The American Chamber of Commerce in Sri Lanka (AMCHAM).

The initial stages of the project commenced in June 2022 with the overwhelming support of all UTE employees at the UTE Head Office in Wattala, where a large area was assigned for cultivation.

The collected harvest from the project will be distributed amongst the 325+ employees on a quota basis according to their needs, allowing them to benefit directly from the fruits of their own labor. In order to ensure the success of the ‘Grow Your Own Food initiative’, UTE has enlisted the support of Agriculture Officers in developing the project and has plans to expand the project throughout its facilities island-wide.

Accordingly, the ‘Grow Your Own Food’ initiative constitutes UTE’s latest move to meaningfully contribute to employee welfare by ensuring that its employees remain self-sufficient during this present time of need, by encouraging all staff employed throughout the company to engage in home gardening to meet their food needs. Not only will this initiative provide employees with much-needed ease of access to food, but it will also deepen their family engagement and happiness, enabling them to enrich both their professional and personal lives. As part of this initiative, UTE launched a children’s art campaign under the theme ‘Home Garden,’ where children of UTE employees painted their own home gardens. Using the collection of art submissions, UTE created an art wall which was also unveiled by Ambassador Chung at the launch event.

Addressing the gathering at the launch, Ambassador of the United States to Sri Lanka Ms. Julie Chung commended the project, “Through these home gardens that you are developing, you are not only planting seeds; you are planting seeds of hope, seeds of victory. And I hope more companies follow your lead. You are setting that example for others to follow so that others can also offer solutions that provide relief. Thank you all for your dedication, for your service, and for the love for your country.”

Commenting on UTE’s initiative, Prasan Fernando, Chairman of United Tractor and Equipment (Pvt) Limited said, “As a longstanding presence in Sri Lanka’s business landscape, over the years UTE has made its mission to contribute to the communities we serve in. We are very pleased and proud to launch the ‘Grow Your Own Food’ initiative at this moment in time, given the uncertainty of possible food shortages around the world and the uncertainty we as Sri Lankans are facing. UTE has continued to place the utmost importance on contributing towards sustaining the wellbeing of our employees and our communities, and with this latest initiative to encourage home gardening we aim to enhance their standards of living to meet the challenges of today.”

Representing over 75 years of engineering excellence, UTE has continuously delivered high-quality engineering solutions across a wide range of disciplines in Sri Lanka and around the world. The UTE Parts Store/PCC (Parts.Cat.Com) is the fastest, easiest, and most reliable website to find and order over 1.4 million genuine CAT® parts online. As the sole authorized Caterpillar dealer in Sri Lanka, UTE also offers retail distribution of CAT® Lubricants. Orders can be placed 24/7 with the mobile-friendly interface and the parts will be shipped to any location in the island or can be picked up from any of UTE’s branches. The company is home to the Island’s most experienced and largest team of Customer Support personnel and Caterpillar-trained technicians in the industry. Serving customers throughout the island, the company has branches in Panchikawatta, Matara, Kurunegala, Anuradhapura, and Kilinochchi adding to its strength.

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Business

Beira Lake restoration, ‘a crucial urban environmental intervention’

Published

22 hours ago

2026/01/21

Thilina Walpola

The Beira Lake; in for a clean-up

Sri Lanka’s decision to invest Rs. 2.5 billion in restoring the heavily polluted Beira Lake marks one of the most significant urban environmental interventions in recent years, underscoring a growing recognition that ecological rehabilitation is also an economic imperative.

The multi-pronged project—covering the closure of illegal sewage discharge points, large-scale dredging, and the installation of aeration systems—is expected to not only revive aquatic life but also unlock commercial, tourism and real estate value in the heart of Colombo.

Officials say the initiative is designed to transform Beira Lake from a long-neglected liability into a productive urban asset.

A senior official from the Ministry of Environment told The Island Financial Review that untreated wastewater and illegal sewer connections had been the primary contributors to the lake’s degradation for decades. “Closing these illegal sewage points is the most critical intervention. Without that, any dredging or aeration would only offer temporary relief, the official said, adding that enforcement will be carried out in coordination with the Colombo Municipal Council (CMC) and other regulatory agencies.

From a business perspective, the clean-up is being viewed as a catalyst for urban regeneration. Urban Development Authority (UDA) sources noted that a healthier Beira Lake would significantly enhance the attractiveness of surrounding commercial developments, hospitality projects and public spaces. “Environmental remediation directly impacts land values and investor confidence. A clean, living lake changes the entire economic profile of the area, an UDA official said.

The dredging component of the project is aimed at removing decades of accumulated sludge, which has reduced water depth and contributed to foul odours and fish die-offs. According to officials involved in project planning, the dredged material will be disposed of following environmental guidelines to avoid secondary pollution risks—an issue that has undermined similar efforts in the past.

Meanwhile, the installation of modern aerators is expected to improve dissolved oxygen levels, a key requirement for sustaining fish and other aquatic organisms. “Restoring aquatic life is not just about biodiversity; it is about creating a water body that can safely support recreational activities and public engagement, a senior CMC engineer explained.

Economists point out that the Rs. 2.5 billion allocation, while substantial, should be seen against the long-term cost savings and revenue potential. Reduced public health risks, lower water treatment costs downstream, increased tourism activity and higher commercial footfall could deliver returns that far exceed the initial outlay.

By Ifham Nizam

Business

Expectation of positive Q3 corporate results jerks bourse to life

Published

22 hours ago

2026/01/21

Thilina Walpola

CSE activities kicked off on a negative note initially but later experienced some recovery yesterday because most investors were anticipating positive third quarter result shortly, market analysts said.

Amid those developments, the market indicated mixed reactions. The All Share Price Index went down by 4.13 points, while the S and P SL20 rose by 14.02 points. Turnover stood at Rs 5.17 billion with 11 crossings.

Top seven crossings were reported in Renuka Holdings where eight million shares crossed to the tune of Rs 324 million; its shares traded at Rs 40.50, Tokyo Cement one million shares crossed to the tune of Rs 113 million; its shares traded at Rs 113, Distilleries 1.85 million shares crossed for Rs 111 million; its shares traded at Rs 60, ACL Cables 500,000 shares crossed for Rs 51.5 million, its shares sold at Rs 103 Chevron Lubricants 250,000 shares crossed for Rs 47.5 million; its shares traded at Rs 190, Ambeon Capital 738600 shares crossed at Rs 40.50 each and Melstacope 150,000 shares crossed for Rs 27 million; its shares traded at Rs 180.

In the retail market top seven companies that mainly contributed to the turnover were; Colombo Dockyard Rs 1.26 billion (12 million shares traded), ACL Cables Rs 348 million (3.3 million shares traded), HNB (Non-Voting) Rs 152 million (425,000 shares traded), Hayleys Rs 109 million (507,000 shares traded), Tokyo Cement (Non-Voting) Rs 94 million (989,000 shares traded) Lanka Realty Investments Rs 80 million (1.6 million shares traded) and Sampath Bank Rs 77 million (498,000 shares traded). During the day 135 million share volumes changed hands in 38398 transactions.

It is said that manufacturing sector counters, especially Tokyo Cement and ACL Cables, performed well. Further, Colombo Dockyard became the most preferred share for investors. The Banking sector also performed well.

Browns Beach Hotels said that the company will delist from the CSE, having made arrangements with majority shareholders Melstacope and Aitken Spence Hotel Holdings to buy back shares from minority shareholders at an exit offer price of Rs 30.

Yesterday the rupee was quoted at Rs 309.75/85 to the US dollar in the spot market, from Rs 309.72/77 the previous day, having depreciated in recent weeks, dealers said, while bond yields were down.

A bond maturing on 15.05.2026 was quoted at 8.25/35 percent.

A bond maturing on 15.02.2028 was quoted at 9.00/10 percent, down from 9.05/10 percent.

A bond maturing on 15.12.2029 was quoted at 9.65/70 percent, up from 9.65/69 percent.

A bond maturing on 01.03.2030 was quoted at 9.72/75 percent, from 9.70/76 percent.

A bond maturing on 15.03.2031 was quoted at 9.95/10.00 percent, down from 10.00/10 percent.

A bond maturing on 01.10.2032 was quoted at 10.30/50 percent.

A bond maturing on 01.06.2033 was quoted at 10.72/75 percent, down from 10.70/80 percent.

A bond maturing on 15.06.2035 closed at 11.05/10 percent, down from 11.07/11 percent.

The telegraphic transfer rates for the American dollar were 306.2500 buying, 313.2500 selling; the British pound was 409.9898 buying, and 421.3080 selling, and the euro was 354.1773 buying, 365.5655 selling.

By Hiran H Senewiratne

Business

Ceylon Theatres and British Council present National Theatre Live’s ‘Hamlet’

Published

22 hours ago

2026/01/21

Thilina Walpola

Ceylon Theatres Limited, in partnership with British Council, is proud to present the first ever screening of National Theatre (NT) Live’s Hamlet starring Hiran Abeysekara in Asia. The first screening will happen at Regal Cinema in Dematagoda (Colombo 9) at 5:30 pm on Sunday, 25 January. Sri Lankan actor Hiran Abeysekera stars in the title role—the first Asian actor to play Hamlet in a National Theatre production.

For Sri Lankan audiences, this screening is both a celebration and a homecoming. It reflects the British Council’s long-standing commitment to nurturing creative talent, widening access to world-class culture, and building deep, people-to-people connections between Sri Lanka and the United Kingdom through theatre and the creative arts. To celebrate the inaugural screening, the British Council is inviting winners and runners-up of the All-Island Inter-School Shakespeare Drama Competition, alongside drama teachers and university actors, to attend the premiere.

Further details on screening dates, venues, and ticketing can be found at: https://ceylontheatres.com/ and on the British Council Instagram page https://www.instagram.com/britishcouncilsrilanka/ or call: 0766192370