Business
CFA Society Sri Lanka announces appointment of new CEO, Aruna Alwis
CFA Institute has earned an important reputation as a professional organization providing finance education to investment professionals. Recently, CFA Society Sri Lanka (CFASL) announced the appointment of Aruna Alwis as its new Chief Executive Officer to help drive its vision forward.
Prior to joining CFASL, Aruna Alwis served as Chief Executive Officer/Secretary of The Institute of Chartered Accountants of Sri Lanka, Director Operations of Chartered Institute of Management Accountants Sri Lanka, and CEO of the Federation of Information Technology Industry Sri Lanka. Aruna Alwis received his Executive Education from INSEAD, IIM Bangalore, Open University UK, and DCAAP Philippines. He is a professional member of the British Computer Society, UK and holds a Diploma in Business Administration from the University of Colombo and a MBA from Warnbourgh University, UK.
CFASL is set to play a more influential role locally under his Executive Leadership in the coming months, with a series of new programs helping to further strengthen the Finance and Investment industry. It is believed that these initiatives will help reinforce the industry locally and enhance its regional and international links further.
The Capital Market Awards, Research Challenge competition, Women in Finance initiatives, Candidates council events and 20th Anniversary Celebrations are some of the league events being organised by CFASL to support the enhancement of skills and competencies of the country’s Finance and Investment professionals and the industry as a whole.
President of CFASL Dinesh Warusavitharana commented on the appointment of Aruna Alwis: “The appointment of the new CEO marks an exciting time for growth and development as CFASL celebrates its 20th Anniversary.” He said, “Aruna is the right leader for CFASL due to his extensive corporate relationships spanning Finance, Accounting, ICT, Education, Media, and the Government. This ties together with his wide international exposure and proven business development skills. We have no doubt that his expertise will help CFASL strengthen its position both locally and internationally, and develop strategic alliances, as well as foster the Finance and Investment industry in Sri Lanka.”
Brenda Hou, CFA Institute’s Senior Director of Society Relations, Asia Pacific, said, “This senior executive appointment marks an important milestone in CFA Society Sri Lanka. Our CFA Societies primarily operate as volunteer-run, not-for-profit organizations. This appointment allows CFA Society Sri Lanka to expand its engagement with members, candidates and the industry more broadly, to fulfil our shared mission of promoting the highest standards of ethics, education and professional excellence across the financial services industry.”
Aruna Alwis said he is excited to join CFASL, which, he said, comes at a very critical time, with the Investment industry rooting for development in leaps and bounds. “I am looking forward to working with all the stakeholders to develop a portfolio of services that attracts, retains and involves members at all stages and supports the Finance and Investment, and business community, including the Government of Sri Lanka,” he said.
Business
Rs 160 million + diesel discrepancy at Lakvijaya power plant prompts probe
By Ifham Nizam
A Rs.160 million-plus diesel discrepancy at the Lakvijaya power plant in Norochcholai has triggered an internal investigation, raising questions over the handling of public funds and the controls governing fuel purchased for electricity generation.
The discrepancy surfaced during an internal audit of diesel supplied to the plant from the Kolonnawa and Sapugaskanda fuel terminals, according to senior officials familiar with the inquiry.
The audit has identified five transactions—two in December 2025 and three in January 2026—in which diesel recorded as delivered to the plant allegedly could not be fully accounted for in its physical stocks.
The investigation is now examining whether these were isolated discrepancies or part of a longer-running practice.
One transaction under scrutiny relates to January 16, when records reportedly showed that 10 diesel bowsers had arrived at the plant. Investigators subsequently found indications that the fuel stock corresponded to only nine bowsers.
A storekeeper responsible for the relevant fuel operation has reportedly been temporarily removed from those duties pending the investigation.
A senior official said investigators were reviewing historical records amid indications that similar discrepancies may have occurred over a longer period. If established, the financial exposure could therefore exceed the Rs.160 million currently identified.
The investigation is comparing fuel-terminal dispatch records, tanker movements, plant-entry records, receiving documents and physical stocks to establish exactly how much fuel was dispatched, received and accounted for.
That audit trail will also be critical in determining who authorised, received and certified the disputed consignments, and whether established controls were followed.
Relevant documents were reportedly transferred from Norochcholai to the company’s Colombo head office on September 26 for further examination, with electricity-sector security personnel assisting in the transfer.
The internal audit has also reportedly uncovered expired chemical stocks worth several hundred thousand rupees in the plant’s stores. Investigators are examining whether further inventory-management irregularities occurred.
The matter was also reportedly taken to the Puttalam Police Special Crimes Investigation Unit on September 26.
When contacted by Puttalam-based journalist Hiran Priyankara Jayasinghe for The Island Financial Review, Lakvijaya Power Plant Manager Nalaka Kumara confirmed that an investigation was under way but declined to provide further details.
The financial issue is direct: if the plant paid for diesel it did not receive, public-sector funds were spent without the electricity sector receiving the corresponding fuel.
Business
Sri Lanka Food Processors Association holds 29th Annual General Meeting
The Sri Lanka Food Processors Association (SLFPA) successfully convened its 29th Annual General Meeting (AGM) on September 23, 2026, at the Water’s Edge Hotel, Battaramulla. Bringing together key industry stakeholders and member organizations, the event served as a platform to review milestone achievements from the 2025/2026 term and outline strategic priorities for the nation’s food and beverage processing sector.
At the AGM, the new Executive Committee for 2027/2028 was appointed, comprising: Honorary President Aruna Senanayake C.W. Mackie PLC Imme. Past President Thusith Wijesinghe Trans Continental Packaging & Commodities (Pvt) Ltd.
President Elect Nadishan Guruge Meadlee Trading Co. (Pvt) Ltd.
1st Vice President Damitha Perera Forbes & Walkers Commodity Brockers (Pvt) Ltd.
2nd Vice President Rasika Seneviratne Diesel & Motor Engineering PLC 3rd Vice President Deepal De Alwis Neochem International (Pvt) Ltd.
Honorary Secretary Amila Weerasinghe Nestle Lanka Limited.
Asst. SecretaryDineth Alahakoon Country Style Foods (Pvt) Ltd.
Honorary Treasurer Sameera Jayathilaka Westmann Engineering Company (Pvt) Ltd.
Asst. Treasurer Niroshan Dalpethado C D De Fonseka & Sons (Pvt) Limited. In addition to the above office bearers, the following ten Executive Committee Members were appointed:
Sanjeewa De Silva Unilever Sri Lanka Limited Sheran De Alwis MA’S Tropical Food Processing (Pvt) Limited
Thusitha Ekanayake Anods Cocoa (Pvt) Ltd.
Vijitha Govinna Plenty Foods (Pvt) Limited Ms. Praharshi Wickramasekara International Commodity Exports (Pvt) Ltd.
Sanjeewa Niroshan SGS Lanka (Pvt) Ltd. Kushan Amarasinghe Finagle Lanka (Pvt) Ltd.
Rangajeewa Hettiarrachchi Fonterra Brands Lanka (Pvt) Ltd.
Harindra Abeyrathna Vision Technologies International (Pvt) Ltd. Thilina Weerasekara Ceylon Cold Stores PLC
The event was proudly supported by key industry partners, with SGS Lanka (Pvt) Ltd serving as the Platinum Sponsor. Unilever Sri Lanka Ltd. and Nestlé Lanka Ltd. joined as Gold Sponsors, Ceylon Agro Industries – Prima as the Silver Sponsor, while Lanka Exhibition & Conference Services (LECS) and Hero Nature Products (Pvt) Ltd., supported as Bronze Sponsors.
The proceedings concluded with a vote of thanks delivered by Hony. Secretary Deepal De Alwis, followed by cocktails and a fellowship networking session, providing an opportunity for members to connect and strengthen industry ties.
Business
Uber brings the ‘business class of back seats’ to Sri Lanka with Uber Black
New premium ride option expands Uber’s portfolio from affordable Moto and Tuk rides to premium on-demand travel
Uber announced the launch of Uber Black in Sri Lanka, bringing its premium ride experience to the country for the first time. Designed as the “business class of back seats,” Uber Black combines premium vehicles and highly-rated drivers for riders looking for greater comfort, quality and a more elevated travel experience.
The launch comes as demand for premium products and experiences grows across Sri Lanka, with consumers seeking greater choice and quality in their everyday experiences. Uber Black brings this choice to on-demand mobility, whether for an airport journey, an important business meeting, a special occasion or simply when riders want to travel in greater comfort.
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