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John Keells Group’s Start-Up-Cycle concludes with Demo Day

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Krishan Balendra - Chairperson of the John Keells Group and Nisreen Rehmanjee - Head of Corporate Finance, Group Tax, & Social Entrepreneurship of the Group recognising the selected 3 winners

Plasticcycle, the social entrepreneurship project of the John Keells Group, concluded its inaugural Start-Up-Cycle initiative, with Demo Day on 28th November 2023. ‘Start-Up-Cycle’, is the challenge platform of Plasticcycle, launched in collaboration with John Keells X, the Group’s start-up accelerator, and John Keells Research, the Group’s R&D and Innovation arm, with the objective of empowering Sri Lankan entrepreneurs and innovators to address plastic usage and waste challenges through innovative and implementable long-term solutions.

With over 100 applications received by the end of September 2023, an Open Day was facilitated between solution providers and problem statement owners from John Keells Group businesses in Leisure, Consumer Foods, and Retail. The six-week programme, which commenced in October 2023 provided the applicants the opportunity to fine-tune their skills with the John Keells Group team members on essential areas such as Minimum Viable Products (MVP), Intellectual Property (IP), Financial Management, and Legislative processes.

Suresh Rajendra – President of the John Keells Group Leisure sector and Social Entrepreneurship, said “The John Keells Group launched Plasticcycle with the vision to be a catalyst in significantly reducing plastic pollution in Sri Lanka. Through strategic partnerships, Plasticcycle has taken its focus areas of encouraging the reduction of single-use plastics, supporting responsible disposal, and promoting recycling initiatives and innovation, outside of the Group, now making this social entrepreneurship project an integral part of the circular economy of the waste management industry. We are committed to consistently seeking the best solutions to ensure a greener future.”

8 applicants were shortlisted to pitch their business plans to the judges – Ajit Gunewardene – Founder & CEO of Bluestone Capital Private Limited, Sarojini Jayasekara – Director, Solid Waste Management of CEA, and Sharmini Ratwatte – Non-Executive Director of Ceylon Cold Stores PLC, on Demo Day. The judging criteria encompassed Impact on the given Problem Statement, Cost-Effectiveness, Market and Customer Knowledge, Entrepreneurial Mindset, Competitive Advantage, Execution, and Financial Strategy.

The judges selected 3 winners – Tashini Vithanage (product: a compostable alternative for plastic cling wrap used in the hotel sector) Padmashantha Fonseka (product: a compostable alternative for plastic bento box used in the hotel sector) and Rashmi Mohotti (product: a compostable alternative for plastic take away fruit juice cup used in supermarkets), to receive the start-up funding of a collective RS. 10 million to support the further development of their proposed business ideas while working closely with the respective John Keells Group Businesses.

Ajit Gunewardene stated “At a time when environmental challenges are pressing, initiatives like this provide a platform for passionate entrepreneurs to showcase their ideas and drive positive change. The commitment of John Keells to fund such endeavours aligns seamlessly with the growing importance of Environmental, Social, and Governance (ESG) considerations. Supporting and nurturing these startups not only fosters disruptive innovation but also contributes to a sustainable future which exemplifies the synergies between corporate citizenship and entrepreneurial spirit.”

John Keells Holdings PLC (JKH), is the largest conglomerate listed on the Colombo Stock Exchange, operating with over 70 companies in 7 diverse industry sectors. With a history of over 150 years, John Keells Group provides employment to over 14,000 persons and has been ranked as Sri Lanka’s ‘Most Respected Entity’ for the last 18 Years by LMD magazine.

John Keells Holdings PLC was ranked first for the third consecutive year in the ‘Transparency in Corporate Reporting Assessment’ by Transparency International Sri Lanka. Whilst being a full member of the World Economic Forum and a participant of the UN Global Compact, JKH drives its CSR vision of “Empowering the Nation for Tomorrow” through John Keells Foundation and through the social entrepreneurship initiative, ‘Plasticcycle’, which is a catalyst in significantly reducing plastic pollution in Sri Lanka.

(JKH)



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Dialog delivers strong growth, stronger national contribution in FY 2025

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Dialog Axiata PLC announced, Friday 6th February 2026, its consolidated financial results (Reviewed) for the year ended 31st December 2025. Financial results included those of Dialog Axiata PLC (the “Company”) and of the Dialog Axiata Group (the “Group”).

Group Performance

The Group delivered a strong performance across Mobile, Fixed Line and Digital Pay Television businesses recording a positive Core Revenue growth of 16% Year to Date (“YTD”). Group Headline Revenue reached Rs179.6Bn, up 5% YTD, despite the continued strategic scaling down of low-margin international wholesale business. In Q4 2025, Revenue was recorded at Rs46.5Bn up 2% Quarter-on-Quarter (“QoQ”) and 2% Year-on-Year (“YoY”).

The Group Earnings Before Interest, Tax, Depreciation and Amortisation (“EBITDA”) reached Rs86.0Bn up 30% YTD supported by Core Revenue performance and Cost Rescaling Initiatives. On a QoQ basis Group EBITDA demonstrated a modest growth to record at Rs23.0Bn up 2% QoQ with an EBITDA margin of 49.5% in line with the Revenue performance. Group EBITDA margin reached 47.9% for FY 2025, up 9.2pp.

Group Net Profit After Tax (“NPAT”) reached Rs20.8Bn for FY 2025, up 67% YTD mainly resulting from robust EBITDA growth, despite higher tax and net finance costs. Normalized for forex impact, NPAT growth was recorded at +>100% YTD to reach Rs22.1Bn. On a QoQ basis NPAT grew 3% to reach Rs5.9Bn resulting from strong EBITDA performance.

On the back of strong operational performance, the Group recorded Operating Free Cash Flow (“OFCF”)

of Rs49.3Bn for FY 2025 up >100% YTD.

Dividend Payment to Shareholders

In line with the dividend policy and financial performance of the Group and taking into account the forward investment requirements to serve the nation’s demand for Broadband and Digital services, the Board of Directors of Dialog Axiata PLC at its meeting held on 6th February 2026, resolved to propose for consideration by the Shareholders of the Company, a dividend to ordinary shareholders amounting to Rs1.50 per share. The said dividend, if approved by shareholders, would translate to a Dividend Yield of 5.0% based on share closing price for FY 2025. The dividend so proposed will be considered for approval by the shareholders at the Annual General Meeting (AGM) of the Company, the date pertaining to which would be notified in due course.

Company and Subsidiary Performance

At an entity level, Dialog Axiata PLC (the “Company”) continued to be the primary contributor to Group Revenue (76%) and Group EBITDA (74%). Aided by sustained growth in the Data segment and cost-rescaling initiatives, Company revenue was recorded at Rs135.8Bn for FY 2025, up 18% YTD, EBITDA rose 32% YTD to reach Rs63.6Bn. On a QoQ basis, Q4 2025 Revenue was recorded at Rs34.8Bn, down 1% QoQ due to a reclassification of Hubbing Revenue, while EBITDA decline 1% QoQ to record Rs17.0Bn, largely attributable to network restoration costs and donations made in relation to the Cyclone Ditwah relief efforts. Furthermore, NPAT was recorded at Rs15.6Bn for FY 2025, up 41% YTD. Normalised for forex impacts, the company NPAT was up +>100% YTD to reach Rs17.0Bn. On a QoQ basis, Company NPAT was recorded at Rs4.5Bn, down 6% QoQ.

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Ceylinco Life’s Pranama Scholarships reach 25-year milestone

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Ceylinco Life has announced the launch of the 25th consecutive edition of its flagship Pranama Scholarships programme, marking a significant milestone in the company’s long-standing commitment to recognising and rewarding excellence among the children of its policyholders.

Under the 2026 programme, the life insurance market leader will present scholarships with a total cumulative value of Rs. 22.7 million, continuing a rewards initiative that has now been conducted without interruption for a quarter of a century. Since its inception, the Ceylinco Life Pranama Scholarships programme has benefitted 3,466 students across the country, representing a total investment of Rs. 240 million in nurturing academic achievement and outstanding performance in sports, arts and other extracurricular pursuits.

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Sri Lankans’ artistic genius glowingly manifests at Kala Pola ‘26

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The spirit of Sri Lanka as it was ably captured by an artist.

The artistic genius of Sri Lankans was amply manifest all over again at ‘Kala Pola ‘26’ which was held on February 8th at Ananda Coomaraswamy Mawatha Colombo 7; the usual, teeming and colourful venue for this annual grand exhibition and celebration of the work of local visual artists.

If there is one thing that has flourished memorably and resplendently in Sri Lanka over the centuries it is the artistic capability or genius of its people. It is something that all Sri Lankans could feel a sense of elation over because from the viewpoint of the arts, Sri Lanka is second to no other nation. With regard to the visual arts a veritable dazzling radiance of this inborn and persisting capability is seen at the annual open air ‘Kala Pola’.

A bird of Sri Lanka created from scraps of iron waste.

All capable visual artists, wherever they hail from in Sri Lanka, enjoy the opportunity of exhibiting their work at the ‘Kala Pola’ and this is a distinctive ‘positive’ of this annual event that draws numberless artists and viewers. There was an abundance of paintings, sketches and sculptures, for instance, and one work was as good as the other. Ample and equal space was afforded each artist. Its widely participatory and open nature enables one to describe the exhibition as exuding a profoundly democratic ethos.

Accordingly, this time around at ‘Kala Pola ‘26’ too Sri Lankans’ creative efforts were there to be viewed, studied and enjoyed in the customary carnival atmosphere where connoisseurs, local and foreign, met in a sprit of camaraderie and good cheer. Many thanks are owed once again to the George Keyt Foundation for the presentation of the event in association with the John Keells Group and the John Keells Foundation, not forgetting the Nations Trust Bank, which was the event’s Official Banking Partner. The exhibition was officially declared open by Chief Guest Marc-Andre Franche, UN Resident Coordinator in Sri Lanka.

By Lynn Ockersz

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