Business

COYLE welcomes new chairman Manjula Wijesundara

Published

1 year ago

2025/05/11

Manjula Wijesundara

The Chamber of Lankan Entrepreneurs (COYLE) last week announced the appointment of Mr. Manjula Wijesundara as its new Chairman for the year 2025/26. A COYLE news release described him as a “respected entrepreneur and passionate advocate for business-led development” and said he steps into leadership with a bold theme that reflects the needs of the hour—”A Year of International Growth.”

With the global economy undergoing profound shifts, the appointment marks a timely change in COYLE’s strategic focus, the release said.

In his inaugural remarks, the new Chairman articulated a vision for strengthening Sri Lanka’s economic resilience through robust international engagement and enhanced global market access for Sri Lankan businesses. His message was clear: sustainable economic recovery will come from expanding the nation’s presence beyond its borders.

“As Sri Lankan entrepreneurs, we must look outward and act with purpose. The next phase of our growth lies in our ability to compete, collaborate, and lead in international markets. This year will be about building bridges—with policymakers, global partners, and emerging economies—to position Sri Lanka as a trusted trade and investment partner,” Wijesundara stated.

Under his leadership, COYLE will actively pursue stronger relationships with international chambers, diplomatic missions, and trade bodies, laying the groundwork for more meaningful bilateral and multilateral cooperation. The Chamber’s focus will be to support and amplify the voice of Sri Lankan entrepreneurs globally—especially in sectors such as apparel, rubber, tea, ICT, and manufacturing, which continue to be among the country’s highest foreign exchange earners.

Wijesundara believes that strong international relations not only open new doors for exports but also attract critical investments and partnerships needed to modernise Sri Lanka’s industries and infrastructure. “In an interconnected world, diplomacy and business must go hand in hand. Our vision is to be a trusted ally in economic diplomacy,” he noted.

As part of this agenda, COYLE is preparing to lead a series of structured engagements with foreign policymakers and trade delegations. These efforts are aimed at helping Sri Lankan businesses overcome barriers to market entry, navigate evolving regulatory frameworks, and build long-term partnerships across key regions including South Asia, the Middle East, East Asia, and Europe.

By taking a proactive approach, the Chamber hopes to influence international trade conversations and ensure that Sri Lanka remains competitive in an increasingly protectionist global environment. COYLE also aims to foster stronger diaspora business linkages that could be leveraged to expand the country’s export footprint.

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Business

HNB Finance strengthens Board with four independent directors

Published

19 hours ago

2026/09/13

Thilina Walpola

Newly appointed HNB FINANCE PLC Independent Non- Executive Directors (from left): Renuke Wijayawardhane, Shanti Gnanapragasam, Nabiha Mohamed and Dr. Thisuri Wanniarachchi

HNB FINANCE PLC has strengthened its Board with the appointment of four Independent Non-Executive Directors, effective September 8, 2026.

The new directors are Renuke Wijayawardhane, Shanti Gnanapragasam, Nabiha Mohamed and Dr. Thisuri Wanniarachchi, who collectively bring extensive experience in financial regulation, banking, risk management, corporate finance, investment strategy, development finance and public policy.

Wijayawardhane, an Attorney-at-Law and capital market professional, retired in July 2025 as Chief Regulatory Officer of the Colombo Stock Exchange after more than 31 years with the Exchange. His experience covers securities regulation, corporate governance, market infrastructure and compliance.

Gnanapragasam has over four decades of banking experience spanning treasury, risk management, credit and trade finance. She currently serves as an Independent Non-Executive Director of Cargills Bank, Wealth Trust and Vision Fund Lanka.

Mohamed is a corporate finance and investment professional who previously served as Lead Transaction Advisor at the State-Owned Enterprise Restructuring Unit of the Ministry of Finance, where she led five divestiture transactions worth over US$600 million.

Dr. Wanniarachchi brings over a decade of experience in development finance, institutional reform and social protection, including work with the World Bank and the Government of Sri Lanka.

Business

Prime Residencies hands over The Palace Gampaha

Published

19 hours ago

2026/09/13

Thilina Walpola

Prime Group Chairman Premalal Brahmanage speaking at the event

Prime Lands Residencies PLC has completed and officially handed over The Palace Gampaha, described as the largest planned gated residential community in Gampaha, to its homeowners.

The development, which commenced construction in 2021, is located two kilometres from Gampaha town and 100 metres from the Colombo-Kandy main road.

Spread across 13.5 acres, The Palace Gampaha comprises 480 two- and three-bedroom apartments in a ground-plus-three-floor development, with prices starting from Rs. 27.5 million.

The project allocates about 80% of its land to landscaped areas and common facilities, while the remaining 20% is used for apartment development. Facilities include a swimming pool, gymnasium, clubhouse, library, community kitchen, laundry, mini-mart and a daycare centre managed by the Lyceum Group.

The fully gated community also incorporates solar power for common areas, underground electricity cabling and a sewage treatment plant with water recycling facilities.

Prime Residencies said all statutory approvals required for the handover had been secured, including certifications from the Condominium Management Authority and registration of the Condominium Plan and Deed of Declaration.

Prime Group Chairman Premalal Brahmanage said the project reflected the company’s vision of creating large-scale residential communities designed to enhance the quality of life of Sri Lankan families.

The project is the latest addition to Prime Group’s portfolio of more than 70 gated community and apartment developments.

Business

SLANA warns NVOCC business losing ground amid THC concerns

Published

19 hours ago

2026/09/13

Thilina Walpola

SLANA Chairperson Swabha Wickramasinghe presenting a memento to Minister of Ports and Civil Aviation Anura Karunathilaka at the eventually

Sri Lanka’s Non-Vessel Operating Common Carrier (NVOCC) sector is losing ground despite the expansion of the industry in several regional markets, Sri Lanka Association of NVOCC Agents (SLANA) Chairperson Swabha Wickramasinghe said.

Wickramasinghe, re-elected for a third consecutive term at SLANA’s ninth Annual General Meeting last week said the continued difficulty in collecting Colombo Terminal Handling Charges (THC) as a separate land-based cost was among the key challenges facing the industry.

She said the practice placed Sri Lanka at a competitive disadvantage as principals consider the overall economics of operating through Colombo.

“When Sri Lanka becomes less commercially attractive compared with other regional destinations, the consequences eventually reach our members,” she said.

Wickramasinghe said a committee had been proposed at a recent meeting with the Minister and Deputy Minister to evaluate the THC issue, urging the authorities to expedite its appointment and review.

She also called for an early solution to the problem of uncleared salt containers at the Port of Colombo, which has resulted in delays in releasing empty containers.

With more than 75 NVOCC lines operating in Sri Lanka, she stressed the sector’s importance to regional trade, particularly links with India and China.

Ports Minister Anura Karunathilaka said Sri Lanka should expand regional business while exploring areas such as bunkering, freight forwarding and e-commerce logistics.