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Historic SME IPO expected to take Chrissworld’s success to next level

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Christopher Perera, Managing Director Chrisslogix greets Rohan Senewiratne – MD Atarah Capital Partners, after announcing the Chrissworld SME IPO to be issued by CSE’s SME Board on April 27, 2021. Chrissworld Director Suraj Suraweera and Atarah Cpital partners’s Vice President Chandana Wijesundara are also in the picture.

 

by Sanath Nanayakkare

Clearing the collateral -driven capital raising barriers for Sri Lanka’s dynamic small and medium enterprises (SMEs) that are deeply woven into Sri Lanka’’s economic and social fabric, country’s maiden SME IPO is to be issued by warehousing/logistics solutions company Chrissworld Ltd, on April 27, 2021, to raise capital to enhance its operational capacity and profitability.

Chrissworld’s maiden listing on the SME-specific Empower Board of the Colombo Stock Exchange (CSE) has been endorsed by the Securities and Exchange Commission (SEC) after ‘strenuously’ engaging for seven months with Atarah Capital Partners (Pvt) Limited, – manager to the Issue of the maiden SME IPO.

The Empower SME Board of the Colombo Stock Exchange is a crucial platform designed to help smaller companies attract investment, and also for investors looking to invest in companies that are in their initial growth stages and are governed properly.

Christopher A.M. Perera, MD at Chrissworld said,” SMEs are the backbone of the Sri Lankan economy accounting for a majority of enterprises providing half of national employment and contributing to over 50% of the GDP of the country. The logistics business which we are in, requires a lot of capital for machinery, rental deposits and even for putting up our own fully fledged warehouses. We realized that we were supporting the banks to be on top of the business ratings when we borrow from them. Banks are making so much money from interest payments. And we are contributors to their big profits.. This opportunity that has been given by the SME Empower Board of the CSE for SMEs to go public has been very encouraging as we can raise capital at lower cost. Thus the initial thinking that we will never go public and we will always be a public company has changed. We are confident of the potential and the sustainabilty of the warehousing business. Warehousing segment is very sustainable because clients don’t easily change. The IPO will enable us to take Chrissworld to a different level. We can implement a lot of plans we have in our minds upon the successful conclusion of the IPO.There is a lot of potential in the warehousing side and professional storage solutions.

‘Our parent company Chrisslogix covers international trade, customs clearance, transportation and together with Chrissworld which offers warehousing services, we can offer total solutions to customers across the board. Then we want to look at sustainable business verticles like pharmaceuticals, medical equipment and food and beverage industry. Chrissworld will also invest in advanced technology, high tech solutions to deliver its services at an optimum level. We are a profit making company and we are a making a value proposition to the investors through this IPO,” he said.

Suraj Suraweera , Director- Chrissworld said,.”We not only want to raise capital without paying bank interest, we also want to consolidate our good governance practices in the process because that will help us atttract more customers and increase our business.”

Details of the offer

Offer for Subscription of Seven Million Five Hundred Thousand (7,500,000) Ordinary Voting Shares at LKR 7.50 per Share to raise a total sum of Sri Lankan Rupees Fifty Six Million Two Hundred and Fifty Thousand (LKR 56,250,000)

 

 



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Sri Lanka’s first generative AI‑powered, trilingual insurance assistant

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Sri Lanka Insurance Corporation General Limited (SLICGL) unveiled Beechat, the country’s first generative AI‑powered insurance assistant, heralding a milestone for Sri Lanka’s insurance industry and move towards digital services.

Beechat is designed to transform the customer experience. Available through the SLICGL website (https://www.slicgeneral.com/) and customer portal, the Assistant offers customers instant access to policy information, real-time claim status updates, and insurance-related help 24 hours a day, seven days a week.

For customers, Beechat makes insurance simpler and always available. Instead of waiting in queues, calling hotlines, or being limited to business hours, customers can check policies, track claims, and receive instant answers in Sinhala, Tamil, or English, empowering every customer, whatever their language, to manage their insurance with ease.

The inclusivity ensures every customer, regardless of language preference, can engage with insurance services seamlessly. The AI‑driven platform reduces complexity, eliminates delays, and builds trust. Ultimately, Beechat transforms insurance from a process often seen as slow and complicated into a smooth digital journey that fits modern lifestyles.

The launch of SLICGL Beechat is strategically important for the organization because it strengthens its position as a leader in innovation within Sri Lanka’s insurance industry. Introducing the country’s first generative AI‑powered, trilingual insurance assistant, SLICGL demonstrates a commitment to digital transformation and technology‑driven service excellence.

The initiative reaffirms the company as forward‑thinking and customer‑centric and differentiating from competitors who still rely on traditional service models. It signals to industry stakeholders that SLICGL is setting new standards for accessibility, efficiency, and convenience in insurance.

Pioneering AI‑driven customer engagement, the company sets a new benchmark. Beechat demonstrates how technology can elevate insurance from a traditional service into a dynamic, futuristic experience, strengthening SLICGL’s relationship with the people it services. (SLICGL)

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‘Lanka Tractors returns with a historic Colombo 11 showroom’

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Lanka Tractors Limited officially reopened its original showroom in Colombo 11, marking the return of one of Sri Lanka’s most recognised agricultural machinery companies and the official launch of the ACE Tractor brand in the country.

Located at 343 Olcott Mawatha, Colombo 11, the showroom was ceremonially declared open by Chief Guest Dudley Sirisena, Chairman of the Araliya Group of Companies, in the presence of Upul Jayasuriya, Chairman of Lanka Tractors Limited, Thilina Abeysuriya, Managing Director, Nishantha Yapa, Head of Business, and Rajiv Gunawardena, CEO of Asia Asset Finance PLC.

Originally established in 1971 as the State Trading (Tractor) Corporation, Lanka Tractors was restructured in 1991 and became one of Sri Lanka’s largest importers and distributors of agricultural machinery. Over the decades, the company represented internationally renowned brands including Massey Ferguson, Kubota and TAFE, earning the trust of generations of Sri Lankan farmers through quality products, technical expertise and dependable after-sales support. The reopening of its original Colombo 11 showroom, first established in 1982, marks the revival of an institution that has played a pivotal role in the mechanisation of Sri Lankan agriculture for more than five decades.

The company’s revival commenced in late 2025 through an exclusive partnership with ACE Tractors, the agricultural division of Action Construction Equipment (ACE) Limited, one of India’s leading engineering and manufacturing companies. ACE manufactures tractors, agricultural machinery, construction equipment and industrial equipment, with annual production capacity exceeding 9,000 tractors, exports to more than 37 countries, and a dealer and service network spanning over 100 locations worldwide.

Prior to the commercial launch, Lanka Tractors adopted an extensive validation programme to ensure the products were ideally suited to Sri Lankan farming conditions. Three introductory models—the ACE VEER 3000 (26 HP 4WD), ACE DI 350 NG (40 HP 2WD) and ACE DI 450 NG (45 HP 4WD)—underwent rigorous field testing across multiple agricultural regions under the supervision of ACE technical specialists. Following several product refinements based on local operating conditions, the tractors were introduced to the market in April 2026.

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Akurugraphy exhibition opens at Geoffrey Bawa Space in Colombo

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The desire to communicate and be understood is at the heart of what it is to be human. In contemporary life, digital infrastructure underpins how we work, live, and share information, but the letterforms that carry our languages are rarely neutral.

Arkurugraphy, a new exhibition at the Geoffrey Bawa Space, explores the history, culture, and future of letterforms across Sri Lanka’s three official languages. Presenting the decade-long practice of Colombo-based type foundry Mooniak, it examines how decisions about the digitisation of Sinhala, Tamil, and Latin scripts impact legibility and carry deep consequences for who is seen, who is heard, and whose language endures.

Writing systems carry human thought and knowledge across time and space. Letterforms can become a form of cultural artefact, unique graphic symbols representing identity and belonging. Today, these inherited letterforms often take shape as digital fonts, their design demanding fluency across history, aesthetics, linguistics, and technical standards. Akurugraphy asks audiences to look at letterforms beyond the act of reading: to appreciate their form, trace their past, and consider the decisions that impact their future.

Akurugraphy brings together typographic specimens, archival material, and software development spanning Mooniak’s full body of practice. It is a celebration of letterforms as art and an examination of the technical and political stakes of designing scripts for the digital age. As part of the exhibition, the Geoffrey Bawa Space will host a programme of monthly talks, curatorial tours, workshops, and children’s programmes.

Akurugraphy is open Wednesday through Sunday, 10:30 a.m. – 5:30 p.m., and will be on view until 8 November 2026. The exhibition is designed to be accessible and welcoming to all visitors. The Geoffrey Bawa Space offers step-free access and wheelchair accessible facilities. Tactile elements are available throughout the exhibition. More information is available at geoffreybawa.com/akurugraphy .

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