Business
LOLC Advanced Technologies launches RT-LAMP Test Kit for COVID-19 Detection for the first time in Sri Lanka
COVID-19, the novel coronavirus infection, which began in Hubei Province, China in December 2019 transformed to an unprecedented worldwide crisis in great speed. The pandemic caused snap lockdowns, social distancing and an alarming number of loss of human lives across the world – all this, resulted in grave humanitarian and economic loss, globally. In Sri Lanka, the pandemic has claimed over 14,000 lives already. Ever since the first case was detected in early 2020, Sri Lanka experienced several lockdowns and travel restrictions which caused most economic activities in the country to come to a standstill.
Across the world, the outbreak of COVID-19 also spurred widespread scientific research from prevention, cure to detection. LOLC Advanced Technologies collaborated with the Sri Lanka Institute of Nanotechnology (SLINTEC) through Ceylon Nano Diagnostics Pvt Ltd. (CNDL) to introduce the loop-mediated isothermal amplification (LAMP) method for the first time in Sri Lanka to curb the limitations of the standard coronavirus detection method approved by the World Health Organization which is RT-qPCR method. This novel process is similar to the conventional PCR tests, with the exception that the nucleic acid amplification occurs at one temperature. As a result, certain mandatory equipment for PCR such as a thermal cycler is not required. This method of detection being quicker, easier to use, and more cost effective than RT-qPCR tests in terms of diagnosis, has many advantages such as wide pH and temperature ranges that are acceptable, the ability of the assay to accept non-processed samples, and the flexibility of the readout methods, all the while maintaining specificity and sensitivity that is about equal to that of the PCR tests.
Ceylon Nano Diagnostics Pvt Ltd. is a Joint Venture (JV) company established to produce RT-LAMP kits and other research and development initiatives related to the molecular diagnostics field. LOLC Advanced Technologies is the management entity for CNDL on behalf of Browns Pharma Limited’s shareholding of 50% while SLINTEC bears the balance 50% shareholding.
SLINTEC has successfully demonstrated the use of RT-LAMP as a robust method for SARS-CoV-2 detection in clinical specimens in Sri Lanka. Even though, several detection methods are available in the LAMP assay, SLINTEC has developed the RT-LAMP kit with the fluorescence detection which is the most sensitive method that can be performed using RT-PCR machine which is currently used for detection of COVID-19. After demonstrating the proof of concept, the SLINTEC RT-LAMP assay was validated against the existing RT-qPCR test at Sri Jayewardenepura University (SJP), by analyzing RNA extracted from more than 200 patient specimens supplied by SJP. This was followed by analyzing virus samples isolated from positive patients supplied by National Institute of Infectious Diseases (IDH) using RT-qPCR available at SJP. Subsequently, the SLINTEC RT-LAMP kit was validated independently by the National Medicines Regulatory Authority (NMRA) at three different laboratories (Infectious Diseases Hospital, Karapitiya Teaching Hospital and Medical Research Institute) for its performance. Having carried out a GMP compliance audit, the NMRA has also given the green light to manufacture the product at the CNDL production facility. In addition, the Ministry of Health has given their consent to use the LAMP technique in Sri Lanka. After a stringent compliance audit, the manufacturing facility was awarded the GMP Certificate to commence manufacturing and finally the product obtained the NMRA approval for commercial use in the Sri Lankan molecular diagnostics market. Although RT-LAMP is new to Sri Lanka, it is currently being used in several other countries including USA and UK.
Commenting about the collaboration, LOLC Group, Deputy Chairman Ishara Nanayakkara said, “At LOLC, our increasing investments in science, research and technology derives from our passion and thirst for knowledge and scientific innovation which is centered on local value addition. I am pleased to note that this collaboration has done just that and especially at a crucial stage of an evolving pandemic. As a Group, we are committed to continue to work and invest in such value additions whilst providing local scientists and researchers the opportunity and platform to explore and make use of their skills and knowledge”.
LOLC Advanced Technologies (Pvt) Ltd. is the research arm of the LOLC Group. The company provides advanced technological consultation support to companies under the LOLC umbrella in the fields of precision agriculture, process improvements for cinnamon agronomy and value addition, new product development in plant nutrition and agro-chemistry. LOLC Advanced Technologies was set up to explore sustainable business opportunities in the market with augmentation of Science and Technology. It is a wholly-owned subsidiary of LOLC Holdings PLC.
To capitalize on the marketing, distribution, technical and application services in the market, CNDL entered into an agreement with Avon Pharmo Chem (Pvt) Ltd., a long-standing leader in the molecular diagnostics market in Sri Lanka.
Dilip K. Fernando, CEO of Avon Pharmo Chem Pvt Ltd said, “Avon possesses the country’s best application, technical team and marketing processes in serving the biotechnology and molecular diagnostics laboratories. We are confident that the COVID 19 test kit produced in Sri Lanka can be instrumental in resolving the challenges faced by the country right now. As we have already received a better response from the private sector COVID-19 testing laboratories, we are fully engaged in training laboratory staff for adopting the technology faster so that all the laboratories can use the kit soon.”
Commenting, Dr. Naresh Handagama, CEO of SLINTEC said, “The COVID 19 test kit developed by the scientists at SLINTEC according to industry best practices, compliance and protocols, has been commercially launched for the Sri Lankan molecular diagnostics market. This is the first of its kind in our history that a test kit of this kind has been able to successfully pass the hurdles of very stringent GMP and NMRA standards certificates together with a series of other validations and trials in many laboratories. When COVID hit our country, many industry leaders engaged in various activities to support the government’s battle in combating the COVID 19 challenge. But, LOLC looked for sustainable ways of facing this issue by investing in science and technology expertise and infrastructure. When SLINTEC announced their engagement in test kit development, LOLC leveraged the idea that could support for future developments as well. This initiative is of great national importance as we are now able to produce this test kit locally and save the outflow of foreign currency from our country whilst better serving the nation with improved performance”.
Business
Dialog delivers strong growth, stronger national contribution in FY 2025
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.
Business
Ceylinco Life’s Pranama Scholarships reach 25-year milestone
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.
Business
Sri Lankans’ artistic genius glowingly manifests at Kala Pola ‘26
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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