Business

Eswaran Brothers – A Board poised for governance and growth

Published

5 years ago

2022/01/25

From left; Executive Chairman, Ganesh Deivanayagam, Non-Executive Chairman Dr. Nalin Jayasuriya and Board Director Aruni Goonetilleke of Eswaran Brothers Tea Exporters

COLOMBO; Top regional financial services expert Aruni Goonetilleke has been appointed to the Board of Directors of Eswaran Brothers, further strengthening an eminent team at the helm of affairs at the company. Eswaran Brothers which has been a leader in the value added tea industry for over sixty years, is at the forefront of innovation in the industry.

The Board of Directors of Eswaran Brothers lead by Non-Executive Chairman and well known corporate strategy expert, Dr. Nalin Jayasuriya, boasts of a power packed team that includes Yudhistran Kanagasabai, Independent Non-Executive Director, Chairman of the Audit Committee of Ceylon Tobacco Company PLC and Chairman, Ambeon Capital PLC , Gabriel D’Arcy, Independent Non-Executive Director, Senior VP at Stratagem Partners – a leading European Corporate Strategy and Brexit Advisory Service Provider and Mr. Hanif Janoo a well-known global Tea industry stalwart from Pakistan and Kenya.

To this stellar team a recent addition was top regional financial services expert Aruni Goonetilleke who joined the board back in June 2021. Aruni Goonetilleke, subsequently appointed as Chairperson of Hatton National Bank PLC, is also a Director at Sunshine Holdings PLC. Further, she holds the position of Non-Executive Director at several other listed companies.

Speaking on her appointment, Ms. Goonetilleke said, “I’m happy to be part of the Board of Eswaran Brothers – one of the leading value-added tea exporting companies in Sri Lanka. At a time when the world navigates many challenges, Eswaran Brothers is embarking on an impressive programme of diversification and growth. I look forward to being a part of the leadership of the company as it steps forward in new directions.”

Ms. Goonetilleke who did her Bachelors in Law at the University of Colombo, completed her Masters in Law at Harvard Law School, USA. She was previously the Head of Corporate Banking at People’s Bank. In her 25-years as a financial services professional she has worked in banks in Sri Lanka and Singapore. She was the Chief Risk Officer of Standard Chartered Bank, Sri Lanka and played a key role at the time of the merger of ANZ Grindlays and Standard Chartered Bank in Sri Lanka. She was also the Head of Credit, SME and Commercial Banking and held Global Audit Roles in Wholesale and Retail Banking at Standard Chartered Bank, Singapore.

As one of the premier marketers of Ceylon Tea, Eswaran Brothers works with some of the world’s leading tea brands, helping them meet their customer needs with the supply of high-quality Ceylon Tea. With over six decades of experience, this combination of versatility and customer satisfaction has made Eswaran Brothers Tea the choice source for fine teas and wellness beverages.

“Corporate governance and growth oriented independent directors have been part of the Eswaran Brothers board for nearly a decade. Following the directions set by our Past Chairman, the late Mr. D Eassuwaren, Eswaran Brothers became the first Carbon Neutral Certified tea company in the world and we are now ready to make some big moves as a corporate entity,” said Executive Chairman, Ganesh Deivanayagam. “With Aruni joining the Board, we intend to strengthen our financial oversight to further drive the company’s diversification and consolidation.”

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Business

ADB approves $100 million loan to boost skills development and jobs for youth in Sri Lanka

Published

18 hours ago

2026/10/2

Thilina Walpola

The Asian Development Bank (ADB) has approved a $100 million results-based loan to help Sri Lanka transform its technical and vocational education and training (TVET) system, equip more young people with industry-relevant skills, and strengthen the country’s competitiveness and inclusive growth.

The Skills Development System Transformation Program will support the Government of Sri Lanka’s efforts in improving the quality and relevance of skills training, strengthening links between training providers and industries, and expanding employment opportunities for youth. The program will increase women’s employment opportunities in nontraditional jobs in fields including automotive technology, engineering, information and communications technology, construction, and renewable energy.

“A skilled workforce is essential to Sri Lanka’s long-term economic transformation and competitiveness,” said ADB Country Director for Sri Lanka Shannon Cowlin. “This program will help create stronger pathways from education to employment by making training more responsive to industry needs, expanding opportunities for young people and women, and ensuring that graduates have the skills required by a modern and evolving economy.”

Though Sri Lanka’s economy is recovering, it faces skills shortages in priority sectors, high youth unemployment, and low female labor force participation. Many employers report difficulty finding workers with the skills needed in a changing economy.

Aligned with the Government of Sri Lanka’s Technical and Vocational Education and Training Sector Strategic Framework 2026–2035, the nationwide program will be implemented from 2027 to 2031 and is expected to directly benefit more than 100,000 young people through improved access to quality, employment-oriented training.

Business

USD 40.84m pipeline to secure aviation fuel supplies to BIA

Published

18 hours ago

2026/10/2

Thilina Walpola

By Ifham Nizam

The government has cleared a USD 40.84 million and Rs. 8,548.75 million contract to build a dedicated aviation fuel pipeline from Muthurajawela to Bandaranaike International Airport (BIA), alongside a massive new fuel storage facility with a capacity of 92,000 cubic metres.

Energy Minister Anura Karunatilaka said the project represented a major investment in strengthening the infrastructure underpinning Sri Lanka’s aviation fuel supply and ensuring more reliable fuel availability at the country’s main international airport.

‘This project will provide the infrastructure required to strengthen the reliability and continuity of aviation fuel supplies to Bandaranaike International Airport, Karunatilaka said.

The contract has been awarded to China Petroleum Pipeline Engineering Company Limited, following an international competitive procurement process in which three bids were received.

The project will see a new aviation fuel storage tank complex constructed at Muthurajawela, together with the associated infrastructure required for handling and transferring aviation fuel.

Business

CSE activity up, turnover weak at Rs. 1.4 billion

Published

18 hours ago

2026/10/2

Thilina Walpola

By Hiran H Senewiratne

Trading activity on the Colombo Stock Exchange (CSE) gathered pace yesterday as global fuel prices began to show signs of easing, according to market analysts.In this context, both indices moved upwards. All Share Price Index up by 67.97 points while S and P SL20 up by 8.30 points.

Turnover stood at Rs 1.4 billion with seven crossings. Those crossings were reported in Sampath Bank 1.7 million shares crossed to the tune of Rs 238 million and its share price traded at Rs 140, Access Engineering two million shares crossed to the tune of Rs 159 million and its share price traded at Rs 79.50, LOLC one million shares crossed to the tune of Rs 129 million and its share price traded at Rs 129, HNB 100,000 shares crossed to the tune of Rs 38.4 million and its share price traded at Rs 384, JKH 1.9 million shares crossed to the tune of Rs 35 million and its share price traded at Rs 18.60, Hayleys 100,000 shares crossed to the tune of Rs 22.50 million and its share price traded at Rs 225 and Richard Pieris 847,000 shares crossed to the tune of Rs 22 million and its share price traded at Rs 25.50.

In the retail market top seven companies that have mainly contributed to the turnover were Sampath Bank Rs 114 million (813,000 shares traded), JKH Rs 100 million (5.3 million shares traded) LB Finance Rs 49 million (325,000 shares traded), HNB Finance Rs 30 million (27 million shares traded), HNB Rs 27 million (70000 shares traded), NTB Rs 25 million (82000 shares traded ) and Lanka IOC Rs 21 million (666,000 shares traded). During the day 65 million shares volumes changed hands in 10433 transactions.

The Banking and manufacturing sector counters performed well. In the banking sector Sampath Bank let the market while manufacturing sector especially JKH also significantly performed well. With the fuel revision Land IOC also a significant stock at the floor.

Meanwhile, First Capital Treasuries said that Ramesh Schaffter resigned as a Non-Independent Non-Executive Director with effect from October 1, to facilitate the restructuring of the company’s board.

Yesterday the Central Bank announced the US Dollar rate as against rupee. The rupee was quoted flat at Rs 330.65/80 to the US dollar in the spot market , while bond yields dropped, dealers said.