Business

Growth achieved through right partnerships will help us outperform regional port competition: SAGT

Published

4 years ago

2020/12/28

by Sanath Nanayakkare

We have reached the end of another year, which I believe, was the most difficult year in our recent history. All of us had very high hopes and expectations when we started the year with strong belief that the country will prosper in all spheres. However, the Covid-19 pandemic has shattered almost all our dreams. We must appreciate the efforts of the health and security officials very much. Our economy is very badly affected. Only few sectors have been able to minimize the impact. Port is one of those sectors, which performed relatively well, despite facing many unprecedented challenges, Upul Jinadasa General Manager – Operations SAGT told The Island Financial Review yesterday.

Further speaking he said: “I am seeing the Covid-19 pandemic as a very dark cloud but with a silver lining. In terms of personal behaviors, it forced us to be disciplined, take health seriously, change unhealthy habits, be conscious about others and think afresh. It has also created lots of opportunities within and outside our traditional boundaries. It forced us to revise current practices to avoid physical contact. This helped us maximize efficiencies while realizing our potential in some key areas in the Port. As a result, some activities, which we tried hard over many years before, was digitalized overnight. Digitalization is expected to thrive and will create many opportunities for our youth. Why not capitalize on it and transform our country to a much smarter place for doing business?”

“At present we are observing a boom in global container shipping industry. Major shipping lines are very keen in doing business with the Colombo Port. We must act wisely and make strategic, factual decisions fast to create Port capacity, enhance related services and position ourselves as the finest Hub Port in the region. Need to establish partnerships with most suitable and strategic global entities for mutual benefit. Growth achieved through right partnerships will help us outperform regional port competition, create more value additions to the local trade and employment opportunities for our youth”.

“I am of the view that as a country, we should not be scared to take the lead wherever it makes sense. Don’t wait till others to act and reap benefits before us. We must dream high and work towards making those dreams a reality. We have done it before. We can do it again”, Jinadasa said.

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Business

Dr RAD Jeewantha named most innovative dentist of the year

Published

13 hours ago

2025/04/27

Thilina Walpola

Dr Jeewantha receiving the award

Dr. R. A. D. Jeewantha was honoured as the Most Innovative Dentist of the Year at the Business World International Awards, 2025. Organised by the Business World International Organisation, the award ceremony was held recently at the Mount Lavinia Hotel. A graduate of the Faculty of Dental Sciences, University of Peradeniya, Dr. Jeewantha has built a reputation as one of Sri Lanka’s most respected and forward-thinking dental surgeons. After gaining vital experience in Government hospitals, including the Teaching Hospital in Karapitiya, he also served at a leading private hospital before launching his own practice—Doctor J Premium Dental Care in Delkanda, Nugegoda.

His dental clinic is known for offering advanced, patient-focused treatments in restorative dentistry, cosmetic procedures, and implantology, using state-of-the-art technology. Dr. Jeewantha is especially skilled in dental implants, having completed the American Residency Course in Dental Implantology at Roseman University, accredited by the American Academy of Implant Dentistry. Dr. Jeewantha holds fellowships from the International College of Continuing Dental Education (FICCDE) and the Pierre Fauchard Academy (USA). His advanced skills include modern root canal treatments using Mineral Trioxide Aggregate (MTA) for both surgical and non-surgical procedures.

He has completed international trainings in digital dentistry, full-arch implantology techniques like All-on-Four and Zygomatic Systems, and smile design using digital 3D scans. He has participated in global dental events such as the Asia-Pacific Dental Congress and completed training at institutions including the University of Manchester and North Western State Medical University in Russia. His courses have covered everything from intraoral scanning to managing tooth wear. He has previously received many local and international awards. Dr. Jeewantha also serves the community as a Justice of the Peace for All Island.

Business

IIHS Foundation in Biological Studies offers fast-track route to global health careers

Published

13 hours ago

2025/04/27

Thilina Walpola

The Foundation in Biological Studies at IIHS provides a unique alternative for students looking to fast-track their health careers after their Ordinary Level (O/L) exams. This programme offers a direct route to global health careers, bypassing traditional A/Ls. With over 1,000 students already advancing to universities in Australia, the UK, and Finland, IIHS has positioned the course as a reliable launchpad for careers in fields like medicine, nursing, biomedical sciences, and digital health. “This programme is a game-changer, offering a transformative journey into global healthcare education,” said IIHS CEO Dr. Kithsiri Edirisinghe.

Business

Seylan Bank Reports Strong Growth in Q1 2025 Financials

Published

13 hours ago

2025/04/27

Thilina Walpola

Seylan Bank has recorded a Profit before Tax (PBT) of LKR 4,199 million in Q1 2025, marking a 13.36% growth compared to LKR 3,704 million in Q1 2024. Profit after Tax (PAT) rose by 20.29%, reaching LKR 2,761 million, up from LKR 2,295 million in the corresponding period of 2024.

Despite a decrease in net interest income by 8.37% due to market interest rate reductions, the bank’s net fee-based income grew by 13.83%, driven by fees from loans, cards, remittances, and other services. Total operating income for the quarter was LKR 11,258 million, a 3.83% decrease from the previous year, while operating expenses rose by 4.62%, largely due to increased personnel and other operating costs.

Impairment charges were significantly reduced by 83.17%, totaling LKR 262 million, reflecting the bank’s solid credit quality and proactive provisions. The bank’s impaired loan ratio improved to 1.98% from 2.10% in Q1 2024, with a provision cover ratio of 80.74%.

Seylan Bank’s total assets grew to LKR 785 billion, with loans and advances reaching LKR 469 billion and deposits totaling LKR 647 billion. The bank’s capital adequacy ratios remained strong, with the Common Equity Tier 1 Capital Ratio at 13.67% and Total Capital Ratio at 17.64%.

In addition to its financial performance, Seylan Bank continued its commitment to education, opening 16 more “Seylan Pahasara Libraries,” bringing the total to 281 libraries across the island.Fitch Ratings upgraded Seylan Bank’s National Long-Term Rating to ‘A+(lka)’ with a Stable Outlook in January 2025, further underscoring the bank’s financial stability and growth trajectory.