Business
CEO Dankotuwa Porcelain provides perspective on budgets for businesses and personal growth
The Lions Club Colombo Host District 306A1 recently concluded the fifth session of the Money Matters webinar series – ‘Money Matters 1.4 – Where Does My Money Go? – Personal Money Management Tips & Tricks!’. The webinar series is part of the Lions Club’s continues efforts to optimize financial knowledge and inclusion in Sri Lanka.
The session was facilitated by Channa Gunawardana, Chief Executive Officer of Dankotuwa Porcelain PLC who provided an insightful look into the importance of budgets for business and personal growth. The session was moderated by Certified Expert in Financial Inclusion and Lions Club Colombo Host 306A1 (2021-22) President, Asitha Pinnaduwa.
Gunawardana went on to talk about importance of budgets in large corporations, SMEs and for personal growth. He went on to discuss how crucial a budget is in terms of establishing a proper direction for businesses. He also went also stated that the use of the budget is more important that the actual availability of one.
Gunawardana went on to speak about the elements required to create a budget such as the necessity to involve all stakeholders and the constant need to compare actual figures against the budget. He also explained that every operational cost must be considered, and an in-depth knowledge of the market is paramount to formulating a budget. He went on to explain that planning for the future is also of great importance when creating a budget. Further to this, Gunawardana explained that budgets are also important for personal growth and the importance of knowing exactly what the result is, what avenues of income are available to enhance and complement that growth.
Business
In SL’s efforts to scale-up solar energy, grid connectivity seen as challenge
By Ifham Nizam
The grid connection becomes a significant challenge as Sri Lanka scales up solar energy, Senior Lecturer at the University of Moratuwa’s Department of Electrical Engineering, Professor Asanka Rodrigo stressed.
He added: “We must conduct extensive studies on load flow, dynamic impacts and protection measures to ensure grid stability.”
Delivering the keynote address, at the partnership last Friday at the Marino Beach Colombo between E.B. Creasy, said to be one of the pioneers of solar energy in Sri Lanka, and LONGI, the world’s largest solar model manufacturer, Rodrigo said that he believes that the partnership highlights Sri Lanka’s commitment to renewable energy and the role both companies will play in supporting the nation’s green energy goals.
Discussing the integration of renewable energy into Sri Lanka’s national grid, he acknowledged that while the country’s small size poses challenges, it also presents opportunities for growth. “As a country close to the equator, we have excellent solar and wind resources, which make solar and wind a priority in our energy mix,” he noted.
Rodrigo detailed the government’s ambitious renewable energy goals, aiming for 70 per cent of energy from renewable sources by 2030 and carbon neutrality by 2050.
Rodrigo added: “The challenges of integrating large-scale renewable energy projects, particularly intermittent sources like solar are considerable.
“The country has made significant progress in solar power deployment, achieving milestones of 200 MW in May 2019 and 1000 MW in July 2024. With an ambitious target of 4000 MW by 2030, the focus is on diversifying solar power infrastructure, including rooftop, ground-mounted, and floating solar photovoltaic (PV) systems.
“Sri Lanka’s energy transition plan, as detailed in the draft Long-Term Generation Expansion Plan (LTGEP) for 2025–2044, reflects a commitment to reducing dependency on fossil fuels while enhancing grid reliability and energy security.”
Sanjeev Rajaratnam, Managing Director of E. B. Creasy & Co. PLC stressed the company’s long-standing commitment to solar energy.
He added: “Since the year 2000, E.B. Creasy has been promoting solar energy solutions to homes and businesses in Sri Lanka. Our business depends on our ability to provide energy solutions that reduce energy bills while lowering carbon footprints.”
He stressed that the company’s dedication to customer service and high-quality solutions has earned it the trust of the industry.
Chin Lee, Head of South Asia Peninsula Region at LONGI, followed with insights into the company’s achievements and future vision.
He said LONGI has set seven world records for photovoltaic (PV) cell conversion efficiency in recent years. “In 2023, we achieved 27.09% efficiency with our HVC solar cells, a world record for non-concentrated silicon cells,” said Chin Lee, reflecting on the company’s technological innovations.
He also addressed challenges in the solar market, mentioning how the price of solar panels surged by nearly 60% over the past year, but expressed confidence in LONGI’s ability to navigate these difficulties while delivering reliable, high-value products to customers.
Business
Aitken Spence Travels wins top German brands Sustainability Award 2024
Aitken Spence Travels (Pvt) Ltd won as the most sustainable Tour Operator/ DMC at the “Sustainability Awards 2024,” organized by the Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka), in collaboration with the Friedrich Naumann Foundation for Freedom (FNF) for the tourism industry. This is the second time Aitken Spence Travels has won this award.
The primary objective of this recognition program was to acknowledge the exceptional efforts of tourism sector stakeholders in promoting sustainability within their businesses. Additionally, it aims to create a competitive platform to increase visibility, highlights achievements through success stories, enhances reputations among industry peers and stakeholders, and utilizes this recognition to foster future partnerships and business opportunities.
This year the awards focused on two main segments; namely the Tour Operators/Destination Management Companies (DMCs) and Hotel & accommodation service providers. Within each category, there was a sub-category awards for both large enterprises and small to medium-sized enterprises.
The evaluation of the awards took into consideration factors such as the organizations holistic approach towards sustainability, the company’s visionary leadership, innovative capability, and resistance to external factors when implementing sustainability practices.
Stasshani Jayawardena, Head of the Tourism Sector for Aitken Spence PLC, commented “We are delighted to receive this recognition for the second time, as the last award ceremony was held in 2022. As one of the leading DMCs in Sri Lanka’s tourism industry, sustainability is deeply rooted into our company’s core values”.
Business
IIMAESL to hold AutoTechniCar 2025 exhibition from Jan. 10-12 at BMICH
Premier automotive event
By Hiran H. Senewiratne
For the first time in Sri Lanka, the Institute of Insurance Motor Assessors & Engineers, Sri Lanka (IIMAESL) will host a major motor show ” titled AutoTechniCar 2025″.
Arrangements are underway to hold this important event at the Sirimavo Bandaranaike Memorial Exhibition Centre (BMICH) in Colombo from Jan. 10 -12, 2025.
The much-anticipated motor show will rally industry professionals, service providers, suppliers and automotive enthusiasts as the latest developments in the automotive sector are going to be showcased at the event.
IIMAESL President Dr. Sudamma Kolitha Chandrasiri speaking to the press in Colombo said last week that they are excited to present Sri Lanka’s premier automotive event, AutoTechniCar 2025 because it will provide a unique platform for networking, knowledge sharing and collaboration within the automotive aftermarket sector.
Celebrating its seventh year, the IIMAESL has made significant strides in promoting professional excellence within the automotive industry. Over the past years, the Institute has conducted numerous professional development sessions and technical symposiums in Colombo and surrounding areas, benefiting members and enhancing industry standards.
AutoTechniCar 2025 aims to bring together a diverse range of stakeholders from the automotive sector, including aftermarket service providers, fleet owners, vehicle owners and users, transportation leaders, industry professionals, students, and the public.
Attendees will have the opportunity to explore cutting-edge automotive solutions, gain insights into legal frameworks and regulations, and learn about the latest trends in vehicle safety, accident prevention, and restoration.
“This event is designed not only to promote the automotive aftermarket industry but also to educate and engage all those involved in or passionate about the sector,” Dr. Chandrasiri said.
‘’While the interactive technical sessions of the event will help broaden the knowledge of the attendees in direct contact with many experts, it will also provide a publicity platform for brand promotions.
‘’It will also have the latest products and services on display by leading brands in the automotive industry.
‘’With thousands of people expected to attend over the three-day period, the event is set to become a major highlight in Sri Lanka’s automotive calendar.
“Through this exhibition, we aim to elevate the profile of the automotive sector in Sri Lanka and foster a greater understanding of its role in our economy and daily lives,” Dr. Chandrasiri added.
As the IIMAESL continues its mission to raise professional standards and provide continuous learning opportunities, AutoTechniCar 2025 promises to be a significant event in the advancement of the automotive industry in Sri Lanka.
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