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hSenid to be first Enterprise Software Company to IPO on CSE

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Seated (L to R): Darshan Perera - CEO, NDB Investment Bank Zakir Mohamedally - Group COO and Head of Investment Banking, CT CLSA Holdings Dinesh Saparamadu - Chairman, hSenid Business Solutions Ltd. Sampath Jayasundara - CEO and Executive Director, hSenid Business Solutions Ltd. Nilendra Weerasinghe - Chief Corporate Advisory Officer, NDB Investment Bank.

Sri Lankan global HR software solutions provider, hSenid Business Solutions, successfully concluded its investor forum, ahead of its IPO, which is due to open on the 3rd of December 2021. The event showcased the great strides made by hSenidBiz having penetrated the global market for Human Capital Management (HCM) software while presenting the investment case to potential investors. The event attracted participation from a wide array of local and foreign investors representing both individual and institutional segments. The Q&A session that followed witnessed active engagement where participants clarified their questions directly with key decision makers and stakeholders at hSenidBiz.

Discussing the outcome of the investor forum, Dinesh Saparamadu – Director/Chairman at hSenid Business Solutions said, “The outcome of our investor forum is overwhelmingly positive. It was a pleasure to be able to directly interact with prospective investors and industry specialists. We were able to answer all their questions and address their concerns. Coming away from the event, we are confident of receiving broad-based interest in our IPO and look forward to the opening day. We thank all those who attended the event, and pledge to continue delivering exceptional value to all stakeholders as we seek to play an even bigger role in Sri Lanka’s growth story.”

Under the guidance of NDB Investment Bank, Lead Managers to the Issue, and CT CLSA Capital, Co-Managers to the Issue, hSenid Business Solutions Limited will offer 55,339,076 ordinary non-voting shares to the public at a price of LKR 12.50 per share, seeking to raise a total of approximately LKR 692 Million in equity capital. These funds are to be channelled toward product development and market development, along with strategic acquisitions in the APAC and East Africa regions. Over the past 5 years, hSenidBiz has demonstrated robust growth in PAT, combined with healthy margins and exceptional performance across all fundamental indicators.

Commenting on the company’s journey thus far, Saparamadu added, “We started hSenidBiz with just three people out of a small room at Ward Place. From day one, I was determined to build HR solutions for global markets. Today, as an indigenous multinational, we are committed to doing our part in developing the local tech industry. I wish to ensure that while our company grows, we also divert resources to upskill local tech professionals and help start-ups get off the ground. As a key player in Sri Lanka’s IT/BPM sector, we are proud to be able to support the nation’s growth trajectory through our net positive forex flows, while also helping to increase awareness about and access to foreign markets for Sri Lankan IT/BPM companies.”

Adding to this, Sampath Jayasundara, CEO/Director of hSenid Business Solutions, mentioned, “Heading in for the IPO is an exciting milestone for all stakeholders of hSenidBiz. This has not been a journey of just a few individuals but an entire network of dedicated employees, partners, customers, advisors and our shareholders. We were fortunate to have worked with big local and global corporations as it gave us unique insights into HR practices and helped us develop innovative solutions that can be scaled globally. From the team point of view, it has been a great strength to have the right people from consulting to engineering, to build a global solution. This has definitely been a stepping-stone to benchmark our products with leading international brands and added new features based on unique customer requirements and considering different industries and geographical contexts.”

Our global expansion across 40+ countries would have been mere to impossible without our global partner network. While, we thank all who have stood with us in this journey, we eagerly look forward to the new opportunities this IPO holds for the future of hSenidBiz. We strongly believe that we have a tremendous opportunity to build a global HR solutions brand that can tweak world-class solutions for different contexts and needs, and we believe we can take the lead in APAC and African regions.”

Founded in 1997, hSenidBiz is today a global Sri Lankan software solutions company, specializing in state-of-the-art HR solutions. hSenidBiz software is used by 1,000,000 users across 1,300 local and global giants among 20 diversified industries in over 40 countries and multiple business sectors, with a strong presence in Asia Pacific and Africa. hSenidBiz presently employs over 250 people and has contributed towards over 4,000 individual tech journeys during its 25-year history. hSenidBiz alumni have gone on to achieve great things and build successful careers in tech across Sri Lanka, Australia and the UK. Founded in 1997, hSenidBiz



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ComBank hands over fully refurbished wards at De Soysa Hospital for Women

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Pictured here are the representatives of the Bank and senior officials of the hospital at the ceremonial handing over of the refurbished ward.

The Commercial Bank of Ceylon recently handed over Wards No. 03 and 04 of the De Soysa Hospital for Women, after the completion of a comprehensive renovation project launched in March this year to mark International Women’s Day.

Wards 03 and 04 handle a substantial share of the hospital’s patient load, and account for approximately 2,500 to 3,000 deliveries and 4,000 to 5,000 admissions annually. Their refurbishment was designed to significantly enhance patient care, safety and comfort, and directly benefit thousands of mothers and newborns.

Five Trustees of the Commercial Bank’s Corporate Social Responsibility Trust participated in the formal handing over of the refurbished wards to the hospital authorities. They were Sharhan Muhseen, the Bank’s Chairman, Raja Senanayake, Deputy Chairman, Sanath Manatunge, Managing Director/CEO, Hasrath Munasinghe, Chief Operating Officer, and Prasanna Indrajith, Chief Financial Officer.

Established in 1879, the De Soysa Hospital for Women is the first maternity hospital in Sri Lanka and the second oldest in Asia and is credited with, among others, performing the country’s first caesarean section in 1905 and establishing one of its earliest organised operating theatres in 1907.

The Commercial Bank’s Corporate Social Responsibility Trust, through which this project was implemented, has via its healthcare-related interventions supported more than 100 government hospitals with essential equipment and infrastructure, contributed to emergency medical services through the ‘Adopt an Ambulance’ initiative, and implemented targeted community health interventions such as water storage solutions for families affected by kidney disease.

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IIHS expands global nursing pathways

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Dr. Renuka Jayatissa and Dr. Kithsiri Edirisinghe speaking to the media

The International Institute of Health Sciences (IIHS) Multiversity is expanding its international education programmes with the aim of creating overseas employment opportunities for Sri Lankan nurses and allied health professionals while contributing to foreign exchange earnings.

Speaking to the media during a conference at IIHS Multiversity in Kerawalapitiya, Dr. Kithsiri Edirisinghe, CEO, Co-Founder and Dean of IIHS aid that the institute has established academic partnerships with overseas universities and higher education institutions, including the University of Surrey in the UK, Deakin University in Australia, Metropolia University of Applied Sciences in Finland, Asia e University in Malaysia and SUNY Canton in the United States.

Under its ‘Study in Sri Lanka, Graduate to the World’ model, students can complete foundational and diploma-level qualifications locally before progressing to international top-up degrees or overseas employment.

Dr Edirisinghe said the model could substantially reduce the cost of obtaining internationally recognised qualifications. It estimates that completing a four-year bachelor’s degree at the University of Surrey in the UK would cost about USD 145,700, including tuition and living expenses, compared with about USD 27,750 through the IIHS pathway in Sri Lanka.

Dr Edirisinghe said the institute’s focus on overseas deployment addressed both Sri Lanka’s economic needs and the growing global demand for healthcare workers.

“Our winning model is producing job-ready, registration-ready healthcare professionals who can seamlessly enter foreign healthcare systems,” he said.

IIHS, which began operations in 2002 as the American College of Health Sciences, established its institutional base in Welisara in 2008 and launched its purpose-built greenfield multiversity campus in 2023.

The institute said it has upgraded the qualifications of more than 5,000 government nurses, supported over 2,500 youth on international employment pathways and trained more than 1,000 allied health professionals. It has also carried out over 250 community health projects.

The institute has identified Germany and Japan among its target markets, with pathways planned for 2,000 nurses for Germany and a one-year preparation programme linked to around 4,000 healthcare positions in Japan.

Dr. Renuka Jayatissa, Vice-Chancellor and a specialist medical doctor, said demographic changes and the growing burden of non-communicable diseases were changing healthcare requirements in Sri Lanka.

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Sampath Bank launches Sri Lanka’s first community-powered book discovery platform at Colombo International Book Fair

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Sampath GPay customers can enjoy 25% cash back on Book Fair purchases

Sampath Bank PLC has launched Sampath Book Finder, Sri Lanka’s first community-powered book discovery platform, giving visitors to the Colombo International Book Fair a faster and more seamless way to find the books they are looking for across the fair’s 150+ stalls, while also opening up new opportunities to discover titles recommended by fellow readers.

Introduced on the opening day of the Colombo International Book Fair on 25 September, Sampath Book Finder brings together digital innovation and the collective knowledge of readers to address a familiar challenge at one of Sri Lanka’s largest literary gatherings, where the scale of the fair can make locating a particular title a time-consuming exercise. When a book proves difficult to locate, visitors can access bookfairtracker.com or scan the designated QR code and submit a request to the community, allowing readers who have already spotted the title to share its location and help others find it without having to search stall after stall.

Commenting on the initiative, Milinda Weerasinghe, Chief Marketing Officer, Sampath Bank PLC, said, “At Sampath Bank, we believe meaningful innovation begins by identifying everyday challenges and creating solutions that make a real difference. Sampath Book Finder brings this thinking to the Colombo International Book Fair by turning the collective knowledge of readers into a real-time digital solution, empowering them to find what they are looking for, discover something new and help others do the same, while making the overall experience more convenient and connected.”

The platform also turns book discovery into a shared experience, allowing visitors to recommend books they encounter by sharing the title, publisher, hall and stall number, which enables fellow readers to discover sought-after titles and recommendations while making it easier to locate them within the fair.

Sampath Bank’s longstanding association with the Colombo International Book Fair also continues in 2026, marking more than 20 years of partnership, with the Bank serving as the Official Banking Partner for this year’s fair. As part of its presence at the event, SampathCards offer 25% cashback for Sampath GPay customers on their purchases and 3 months 0% instalment plans for book purchases via Sampath credit cards, while visitors can also access banking services through the Bank’s physical presence at the fair. Customers registering to open selected Fixed Deposits at the premises will receive an additional 0.25%, adding further value and convenience for visitors.

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