Business

Arinma Holdings and Green Movement Sri Lanka spearhead mangrove conservation project

Published

5 years ago

2020/09/2

A total of 3000 mangrove plants will be replanted in the area of Anaiwasala in the Kalpitiya divisional secretariat and the Anaiwasala grama niladhari area, as part of Arinma Holding’s commitment and support to “upscale livelihoods and biodiversity through community mobilisation and lagoon restoration in the Anaiwasala area in Kalpitiya” project implemented by Green Movement Sri Lanka (GMSL).

This project is an outcome of the memorandum of understanding between Arinma Holdings and GMSL, consistent with the company’s sustainability strategy and commitment to prevent pollution, reduce waste, and consumption of depleting natural resources.

The selected Kalpitiya area along the Puttalam lagoon is one of the most extensive mangrove systems in Sri Lanka. Moreover, this area is also one of the most affected by human interventions caused through the exploitation of mangroves for commercial, industrial, and housing needs predominantly due to the lack of knowledge on the ecological role of mangroves amongst rural communities.

Arinma Holdings will provide funding to implement the project and, by extension, play a part in rehabilitating the ecosystem of this area. By supporting the local community, the initiative will facilitate long-term opportunities for employment as well as education of the communities on how to carry out activities in an environmentally sensitive manner. Furthermore, Arinma Holdings will monitor the progress of the project and support GMSL to build strong partnerships with the local community by creating awareness among selected schools, five identified youth groups, and 20 fishing groups in the Anaiwasala area.

“There is a gross lack of awareness among the public about the economic and ecological importance of mangroves. They facilitate a healthy habitat for a variety of flora and fauna, nursery and breeding ground for birds and fish, provides protection from tsunamis, and prevents soil erosion. Most significantly, the carbon sequestration ability of mangroves makes an immense contribution towards the sustainability of our planet, enhances livelihoods, carbon sinks, and mitigates the impact on climate change and disaster management. We believe the community-based approach to mangrove forestation is the most widely used and most effective. This project is the first of a series of sustainability-related projects we plan to execute across the island in collaboration with GMSL.” Said Harsha Mapagunaratne, Sustainability Lead of Arinma Holdings.

Incorporated in 2007, GMSL is an organisation concerned with environmental conservation, awareness creation and sustainable development, comprised of a consortium of 153 non-governmental, community-based organisations and other group members across the island. GSML is a part of various international networks, including the Asia Pacific Research Network, the Reality of Aid Network, and the Asia Pacific Network for Food Sovereignty. GMSL envisions the achievement of natural resource-based sustainable development through the empowerment of the poorest sections of the population and conservation of the environment, through activities aimed at developing vibrant and sustainable communities across the island.

Incorporated in 2008, the Arinma Holdings group is a climate-resilient infrastructure development conglomerate. Arinma addresses critical environmental, social, and economic imperatives through cutting edge, human-centric infrastructure that meets community aspirations of prosperity, social justice, and sustainability.

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Business

Businesses urged to address environmental challenges

Published

18 hours ago

2025/03/21

Thilina Walpola

Dignitaries at an environment-linked awareness-raising event.

Central Environmental Authority (CEA) chairman Dr. Tilak Hewawasam urged businesses to take greater responsibility in addressing environmental challenges, warning that failure to act could have severe long-term economic consequences.

Speaking to journalists, Dr. Hewawasam emphasized that sustainability is no longer just a compliance issue but a core business strategy.

“Environmental responsibility is not just a regulatory obligation—it is a business imperative. Companies that integrate sustainable practices will lead the way in economic resilience and innovation, he said.

Hewawasam’s remarks come as Sri Lanka faces mounting environmental concerns, including waste mismanagement, deforestation and rising carbon emissions. The CEA has been advocating for stronger corporate participation in tackling these issues, encouraging industries to adopt cleaner technologies, efficient waste disposal systems and renewable energy sources.

Hewawasam stressed that the government alone cannot drive sustainable change. “The private sector must step up, adopt green technologies and rethink supply chains to minimize environmental impact, he told journalists.

He also noted that businesses investing in sustainability are more likely to attract investor confidence and long-term profitability.

“With global markets increasingly rewarding eco-friendly brands, Sri Lankan companies risk being left behind if they fail to align with international environmental standards, he added.

“The CEA continues to push for stronger collaboration between businesses and policymakers to accelerate the country’s transition to a green economy.”Hewawasam stressed that businesses must view sustainability not as an obligation, but as an opportunity to drive innovation and long-term success.

By Ifham Nizam

Business

Sri Lankans Vote Dialog as the Telecommunication Brand and Service Brand of the Year

Published

18 hours ago

2025/03/21

Thilina Walpola

Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider, has been honoured as the ‘Telecommunication Brand of the Year’ for the 14th consecutive year and the ‘Service Brand of the Year’ for the 4th time at the SLIM-KANTAR People’s Awards 2025, held on March 18, 2025. This recognition, awarded based on the voice of the people, reflects the strong relationship Dialog has built with Sri Lankans over the years and the trust they continue to place in the brand.

Since 2007, the SLIM-KANTAR People’s Awards have been a unique symbol of consumer-driven recognition in Sri Lanka. Unlike industry-judged awards, they are based on a comprehensive nationwide survey, providing a transparent reflection of public sentiment. These accolades honour brands and individuals who have earned the trust and admiration of Sri Lankans, forging strong emotional connections. For Dialog, this recognition underscores its deep-rooted relationship with the people and its commitment to delivering reliable connectivity and exceptional service.

“We are truly humbled and grateful to the people of Sri Lanka for this recognition,” said Supun Weerasinghe, Director / Group Chief Executive of Dialog Axiata PLC. “To be chosen as the Telecommunication Brand of the Year for 14 years and the Service Brand of the Year for 4 years is an honour we deeply appreciate. It reflects the trust and confidence placed in us by millions across the country, and we remain committed to strengthening this bond by delivering innovative, accessible, and reliable connectivity that enhances lives and enterprises.”

Dialog’s continued recognition at the SLIM-KANTAR People’s Awards is a testament to its dedication to serving Sri Lankans. As the nation’s #1 connectivity provider, Dialog will continue evolving to meet the changing needs of its customers, ensuring that every solution and service contributes to a more connected and empowered Sri Lanka.

Business

Sierra Cables’ share sale bolsters bourse; indices wax positive

Published

18 hours ago

2025/03/21

Thilina Walpola

The CSE yesterday was somewhat active because Sierra Cables contributed more than half of the turnover. The company sold its shares at a price 24 percent lower than the previous price level. Market sources revealed that an LOLC Group company purchased 146 million Sierra Cables shares at a market price of Rs 12.30 per share, amounting to Rs 1.8 billion.

This gave some impetus to the market and the All Share Price Index also became positive. Sierra Cable’s previous price was Rs 15.50. Consequently, the All Share Price Index went up by 256.7 points, while S and P SL20 rose by 98.3 points. Turnover stood at Rs 3.67 billion with four crossings.

Those crossings were reported in Citizens Developments Business Finance, where two million shares crossed to the tune of Rs 464 million; its shares traded at Rs 232, HNB 295,000 shares crossed for Rs 90 million; its shares traded at Rs 305, JKH, 4 million shares crossed to the tune of Rs 80.8 million; its shares traded at Rs 20.20 and TJ Lanka 900,000 shares crossed for Rs 44.6 million; its shares traded at Rs 49.50.

In the retail market top six companies that mainly contributed to the turnover were; Sierra Cables Rs 1.8 billion (146 million shares traded), CCS Rs 168 million (2.2 million shares traded), JKH Rs 79.5 million (3.9 million shares traded), Sampath Bank Rs 67.8 million (562,000 shares traded), TJ Lanka Rs 60 million (1.2 million shares traded) and Vallibel One Rs 58.4 million (one million shares traded). During the day 197 million share volumes changed hands in 11468 transactions.

It is said that manufacturing sector entities were the main contributors to the turnover, especially with Sierra Cables and JKH, while banking sector counters were the second highest contributor to the market turnover.

Yesterday, the rupee was quoted at Rs 296.45/65 to the US dollar in the spot market, weaker from 296.30/40 the previous day, dealers said, while bond yields were slightly down.

A bond maturing on 01.07.2028 was quoted at 9.75/85 percent, down from 9.84/90 percent. A bond maturing on 15.09.2029 was quoted at 10.08/15 percent, down from 10.14/20 percent. A bond maturing on 15.10.2030 was quoted at 10.25/34 percent, down from 10.25/38 percent. A bond maturing on 15.12.2032 was quoted at 10.75/85 percent, down from 10.85/97 percent.

By Hiran H. Senewiratne