Business
John Keells Foundation celebrates 20 years of empowering the nation for tomorrow
John Keells Foundation (JKF), the Corporate Social Responsibility (CSR) entity of the John Keells Group, marked its 20th anniversary with a special event on 25th April 2025 for its key stakeholders representing the Government, non-government, private and academia sectors, UN and INGO/NGO agencies and community-based organisations. Since its establishment on 28th March 2005, JKF has been a driving force in fostering sustainable growth and empowering communities across Sri Lanka.
“As one of the first corporate CSR entities in Sri Lanka, John Keells Foundation has led the way in championing impactful, sustainable initiatives under our vision of ‘Empowering the Nation for Tomorrow’, aligned with national priorities, the Sustainable Development Goals, and the Principles of the United Nations Global Compact,” said Krishan Balendra, Chairperson of the John Keells Group. “Over the years, the Foundation has remained committed to long-term initiatives that support communities in need, impacting the lives of over 9 million individuals. Within the Foundation’s empowerment culture, the focus has been less about handouts and donations, but more on providing the skills and the motivation to empower our communities to improve their lives. In Ranala, for instance, a women’s society around our Elephant House factory was provided training in producing paper-based products, while in Hikkaduwa, in partnership with Hikka Tranz by Cinnamon, we have upskilled local artisans in batik production. What is most encouraging is how much our own businesses have embraced sustained community empowerment — how it has become part of our DNA over the past couple of decades.”
JKF drives its vision through four strategic focus areas — Education, Community & Livelihoods, Social Health & Cohesion, and Biodiversity – that guide the transformative social empowerment initiatives within the Group’s overall ESG framework. Flagship initiatives such as the John Keells English Language Scholarship Programme, Project WAVE (Working Against Violence through Education), John Keells Vision Project, Cinnamon Rainforest Restoration, Kala Pola, the Village Adoption Project and John Keells Praja Shakthi stand as powerful testaments to JKF’s commitment to inclusive, transformative and sustainable development.
In her welcome address, Carmeline Jayasuriya, the Group’s Head of CSR said, “As the Foundation celebrates this milestone, we cannot do so without reference to all those who have been closely associated with this journey. Our success can be widely attributed to two strong support bases, the passionate volunteers across the Group and the wide array of partner organisations and individuals who have collaborated with us over the years.” She went on to note, “John Keells was visionary in initiating the set up of a dedicated CSR entity as early as 2003.
Today, the Foundation hosts a portfolio of over 30 projects – mid-long term – across 4 focus areas, reflecting the diversity of businesses within the Group. The golden thread running through all these projects is our vision of `Empowering the Nation for Tomorrow’. Considering the many ebbs and flows Sri Lanka has seen through during this time, including the end of the 30-year conflict as well as crises such as the Tsunami, COVID pandemic and economic downturn, the Group was well placed to strategise, undertake and sustain critical social development endeavours through JKF. I am honoured to have been part of JKF’s journey, seeing it evolve over the years to espouse and meaningfully contribute to national needs and priorities specifically through a culture of empowerment.”
In a testament to its impact, Prof. Niles Perera, Head of the Department of Transport Management & Logistics Engineering, University of Moratuwa shared, that the Department has enjoyed a 19-year partnership with the John Keells Group and was grateful for that collaboration. As both a beneficiary of John Keells Foundation’s efforts and now a collaborator, he commended the vision under education— “empowering employability and entrepreneurship” — saying these goals have been meaningfully achieved at the University of Moratuwa through the various initiatives such as need and merit based scholarships, the English Language immersion camp, and opportunities for mentorship and placement offered to undergraduates under this partnership.
Sri Lanka celebrated International Day for Biological Diversity with a vibrant national event at the Popam Arboretum in Dambulla, centering on the theme “Be part of the Plan.” The celebration, attended by students, researchers, community members, and officials, was led by Minister of Environment Dr. Dhammika Patabendi, who emphasized the country’s commitment to preserving biodiversity and promoting sustainable development.
Delivering the keynote address, Minister Patabendi said, “As a government, we are committed to taking every possible step to protect our ecosystems and biodiversity. But this is not the responsibility of the government alone. It is a shared responsibility—one that requires the active participation of every citizen.”
The event highlighted the value of community involvement in conservation and featured a series of exhibitions and talks focused on sustainable tourism, traditional food systems, and environmental education. Locally sourced underutilized fruits and indigenous foods were displayed and shared by communities, underscoring the deep ties between biodiversity and traditional knowledge.
The celebration also featured two major guest lectures. Professor Cyril Wijesundara spoke on the current status of biodiversity in Sri Lanka, while Professor Gamini Pushpakumara presented on the promotion of underutilized food crops—a key element in ensuring food security and sustainability in the face of climate change.
“This is more than a celebration,” Minister Patabendi told journalists at the event. “It’s a reminder that sustainable development must go hand-in-hand with nature. We need to build our future with the forest, not against it.”
By Ifham Nizam
Business
Lower than projected inflation and expectation of lower external demand, seen as chief factors in policy rate cut
Sri Lanka has cut policy interest rates by 25 basis points due to lower than projected inflation and expected lower external demand stemming from geopolitical uncertainties, Central Bank Governor Dr. Nandalal Weerasinghe said.
“The Central Bank has lowered its lending window rate to 8.25 percent and the enforceable deposit facility to 7.25 percent, Dr Weerasinghe told the Central Bank monthly policy review meeting held at Central Bank head office in Colombo last Thursday.
Dr. Weerasinghe added: “Inflation is moving at a lower path than we projected in the last review.0”
“The projection is moving below the lower path but reaching towards the target range of 5 percent.
“With regard to aggregate demand, it could be said that because of global uncertainties stemming from geopolitical issues, the IMF has revised its global economic outlook.
“This means that from the overall aggregate demand point of view the external component will be lower than what we expected last time.
“The US has slapped a 44 percent tax on Sri Lanka’s exports to the country, though only 10 percent is applied for three months, as discussions continue.
“The monetary policy decision has been made expecting the ‘status quo’ to continue.
“Some space been created to ease the monetary policy this time.
“In two months’ time we will review it again and see whether our projections are in order and whether there is some more space.
“There is concern that the latest rate is similar to the rate cuts in April 2015 and April 2018, which were made as credit recovered, precipitating a fresh currency crisis.
“In both instances however, the Central Bank was already printing money and releasing liquidity as private credit picked up from the previous external crisis triggered by rate cuts.
“The Central Bank was releasing liquidity by terminating dollar rupee swaps from the last quarter of 2014 when the rate cuts for the 2015/16 crisis were made.
“In 2018, money was printed mostly through rupee open market operations to enforce the April rate cut.
“Unlike in 2015, 2018 and 2020 the Central Bank does not have to immediately print money to enforce the rate cut as the signaled mid-corridor rate was above the floor rate despite externally generated liquidity.”
By Hiran H Senewiratne
The CSE was bullish and reflected an upward trend despite some mild volatility yesterday. The low interest regime and satisfactory quarterly results moved the market to green territory, market analysts said.
Amid those developments both indices moved upwards. The All Share Price Index up by 31.49 points while S and P SL20 rose by 0.44 points. Turnover stood at Rs 3.7 billion with eleven crossings.
Those crossings were reported in Sunshine Holdings; 11 million shares crossed to the tune of Rs 261 million and its shares traded at Rs 24, Union Bank 12 million shares crossed to the tune of Rs 129 million; its shares traded at Rs 10.80, Digital Mobility Solution 1 million shares for Rs 72 million; its shares traded at Rs 72, JKH 2.5 million shares crossed for Rs 53 million and its shares traded at Rs 21.20.
Lanka IOC 400,000 shares crossed to the tune of Rs 52 million; its shares traded at Rs 130, Hemas Holdings 2 million shares crossed for Rs 51 million; its shares traded at Rs 25.50, Keells Holdings 2 million shares crossed for Rs 41 million; its shares sold at Rs 20.50, DFCC Bank 332,000 shares crossed to the tune of Rs 34.1 million; its shares traded at Rs 103, ACL Cables 200,000 shares crossed for Rs 26.4 million; its shares traded at Rs 132, Agarapathana Plantations one million shares crossed to the tune of Rs 22.8 million; its shares traded at Rs 22.80 and Dialog 1.25 million shares crossed for Rs 20.6 million and its shares sold at Rs 16.50.
In the retail market top six companies that mainly contributed to the turnover were; Hemas Rs 165 million (6.4 million shares traded), Sunshine Holdings Rs 164 million (6.8 million shares traded), Dialog Rs 157 million (9.5 million shares traded), RIL Properties Rs 124 million (6.6 million shares traded), Melstacope Rs 124 million (858,000 shares traded) and Browns Investments Rs 120 million (15.3 million shares traded). During the day 182 million share volumes changed hands in 24000 transactions.
It is said that manufacturing and plantation sector counters led the market, especially Sunshine Holdings and JKH, while banking and finance sector also played a significant role, especially Union Bank.
Yesterday, the rupee opened at Rs 299.10/25 to the US dollar in the spot market, stronger against the previous day close of Rs 299.35/45, dealers said, while bond yields were down sharply.
A bond maturing on 15.10.2028 was quoted at 9.65/70 percent. A bond maturing on 15.06.2029 was quoted at 9.90/98 percent, down from 10.07/11 percent. A bond maturing on 15.09.2029 was quoted at 9.98/10.02 percent. A bond maturing on 15.03.2031 was quoted at 10.45/52 percent, from 10.57/63 percent.
By Hiran H.Senewiratne
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