Business
JEDB looking forward to a profit of Rs. 100 million this year
By Hiran H.Senewiratne
Sri Lanka’s leading state owned plantation entity, Janatha Estates Development Board (JEDB), expects a Rs 100 million profit this year. ‘Rs 56 million in profit has been recorded until the end of August, which could be considered a big milestone for the institution, JEDB chairman, Rtd. Wing Commander Buwaneka Abeysuriya said.
‘In 2019 JEDB incurred a loss of Rs 1.2 billion and in the year 2020 we were able to bring down the loss to Rs 300 million and subsequently its losses shot up to Rs 400 million due to a subsequent Rs 250 wage hike. In the year 2022 we could make a Rs 100 million profit, which will enable us to penetrate the Chinese and Eastern European export markets, Abeysuriya told The Island Financial Review.
Abeysuriya added: ‘JEDB has 18 estates, which are all Land Reform Commission lease lands that were badly managed by the previous administration. Therefore, I have visited all the tea and rubber estates and found that replanting has not been done for more than two decades for tea estates and all employees are corrupt from top to bottom, so I had to revive the entire institution from scratch.
‘After pulling out all the JEDB files we found that JEDB had two arms, which were JEDB Plantations and JEDB Property Management. From JEDB Property Management we were able to cover a lot of losses and were able to collect Rs 165 million that were due to come to its accounts.
‘At present, JEDB has achieved a profit of Rs 56 million after paying 4000 employees, their salaries, gratuity, FPF, ETF funds and other benefits. We are planning to penetrate the Chinese and Eastern European countries to earn US dollars for our country.
“Earlier, the government treasury had funded us. Now with the diversification of the business we are no more a burden to the government.
‘Apart from that, the company is diversifying into many areas, such as, developing our colonial bungalows as boutique hotels and eco-tourism spots. A nature park has been developed at Rahathungoda, known as “Rock Wood ”, and a plantation bungalow at Nagasthenna, Nawalapitiya, has been converted into a boutique hotel. Further, a fertilizer manufacturing plant has been set up with the research and development assistance of the Peradeniya University.
‘JEDB, from its property management arm, has leased out several warehouses and buildings, which also add revenue to the entity. Our latest project would be hydro power generation, which could also generate some income for the JEDB.’
Business
SLT-MOBITEL driving Sri Lanka’s economic resilience through digital infrastructure
Corporate accolades underscore the alignment between its operational excellence and national development
In an era where national competitiveness is intrinsically tied to digital connectivity, strengthening the country’s digital backbone has become an urgent priority. Within this context, the evolving role of Sri Lanka’s leading telecommunications provider, SLT-MOBITEL, offers valuable insight into how technological infrastructure can underpin broader economic resilience.
Telecommunications and digital networks are foundational to economic transformation. By expanding high-speed broadband access, upgrading enterprise cloud capabilities, and bridging the urban-rural connectivity divide, SLT-MOBITEL helps reduce business transaction costs, streamline supply chains, and enable micro, small, and medium enterprises to reach global markets.
Recent corporate accolades further underscore this alignment between operational excellence and national development. SLT-MOBITEL’s triple triumph at the National Business Excellence Awards 2026 – winning in the Infrastructure and Utilities sector, Performance Management, and ICT Services categories – highlights its growing impact. Notably, the recognition of eChannelling’s contributions to digital healthcare reflects a broader strategic pivot toward integrated technology solutions.
“Institutional efficiency of this nature is critical for attracting foreign direct investment, as global partners increasingly assess a country’s digital maturity and systemic stability before committing capital,” noted industry observers.
Moreover, the company’s transition from a conventional telecom utility to a comprehensive digital solutions provider aligns seamlessly with Sri Lanka’s national digitalisation agenda. As the country pursues public sector modernisation, enhanced e-governance, and a competitive knowledge economy, the private sector must step up to deliver secure, scalable, and future-ready networks. Investments in data centres, cybersecurity frameworks, and advanced ICT infrastructure act as strategic buffers, ensuring that Sri Lanka’s economic apparatus remains agile and resilient amid future global uncertainties.
However, industry experts caution that while these achievements are commendable, SLT-MOBITEL still has a considerable distance to cover in fully enabling a truly digital economy.
Business
Port City Colombo strengthens Gulf investment ties at Dubai diplomatic engagement
Port City Colombo (PCC) took a prominent role as Platinum Sponsor at the second edition of Sri Lanka Beyond Your Dreams, a high-level diplomatic and investment engagement hosted by the Consulate General of Sri Lanka in Dubai and the Northern Emirates. The event, held on 2nd September 2026 at the Hilton Dubai Al Habtoor City, brought together over 400 senior UAE-based business leaders, investors, diplomats, and institutional stakeholders, alongside Sri Lanka’s most senior government representatives.
The gathering was graced by Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, as Guest of Honour, and Vijitha Herath, Sri Lanka’s Minister of Foreign Affairs, Foreign Employment and Tourism. A high-level Sri Lankan delegation – including the Secretary to the Prime Minister, the Chairman of the Board of Investment, the Chairman of the Export Development Board, and the Director General of Commerce – underscored the government’s strong commitment to deepening economic diplomacy with the UAE.
In his keynote address, Minister Herath reaffirmed the centuries-old ties between Sri Lanka and the Arab region, emphasising the UAE’s vital role as a key economic partner. He stressed the urgency of finalising a Comprehensive Economic Partnership Agreement (CEPA) with the UAE, which would establish a robust framework to elevate trade, investment, and bilateral cooperation. Declaring Sri Lanka “open and ready for business,” he positioned Port City Colombo as the physical embodiment of this economic mission – a modern Special Economic Zone (SEZ) with a dedicated legal framework and competitive incentives, offering UAE investors a natural gateway to South Asia while maintaining strong Gulf connectivity.
Business
American Premium Water strikes Gold at Dragons of Sri Lanka 2026
American Premium Water has secured four wins at Dragons of Sri Lanka Awards 2026, including three Gold Dragons and one Black Dragon, marking a significant milestone for the brand following its relaunch last year.
Part of the prestigious Dragons of Asia awards, Dragons of Sri Lanka brings the program’s regional platform to the local market, celebrating creative and effective marketing communications, with entries evaluated on strategic thinking, creativity, execution and impact. Established in 2000, Dragons of Asia is one of Asia’s premier results-driven marketing awards programs.
For American Premium Water, the achievements are particularly significant given that the company’s debut at the Dragons awards has resulted in four Dragons across four categories. In the distinction of Gold Dragons, American Premium Water was recognized across three categories including Product Launch or Re Launch, Cause, Environment or Sustainability and Creative Excellence while the Black Dragon was awarded in recognition of Small Budget.
Competing alongside leading brands and agencies in Sri Lanka, American Premium Water’s four wins demonstrate the strength and effectiveness of its recent work. Winning three Gold Dragons across three distinct categories highlights the breadth of the brand’s achievements, while the Black Dragon for Small Budget further emphasizes its ability to create meaningful impact through focused and efficient investment.
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