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Lolc Finance signup for a reforestation and eco system restoration project in Deniyaya

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From Right: Buddhika Weerathunga, Head of Finance of LOLC Finance PLC, Montini Warnakula, Chief Operating Officer of LOLC Finance PLC, Sunjeevani Kotakadeniya, Director Mathurata Plantations and Chief Financial Officer of LOLC Holdings PLC, Pradeep Uluwaduge, Chairman/Non-Executive Director of Mathurata Plantations and Chief HR Officer of LOLC Holdings PLC, Heminda Jayaweera, Chief Executive Officer of Vibhawa Solutions and Hasanka Padukka, Chief Operating Officer of Vibhawa Solutions.

Endowed with a diverse range of forest ecosystems, Sri Lanka is inherent of different topographic, climatic, bio diversities found around the country. However, the recent environmental reports signal a rapid increase of deforestation in Sri Lankan forests and a degradation of the entire eco system. The reports further identify that the catalysts of deforestation drives are mostly socio-economic in nature, and varies from land encroachment, development projects to expansion ventures.

With a sound understanding on the commitment required, LOLC Finance PLC (LOFC), the largest Non-Banking Financial Institution (NBFI) of the country, recently entered in to an agreement with Mathurata Plantations and Vibhawa Solutions Private Limited, to concentrate on replanting the endangered and endogenous species in degraded natural forests and private lands to support the reforestation efforts to enrich the natural order.The core target of this project is to plant 20,000 trees ranging from 12,000 fruit plantations, medicinal herb plantations to few other selected native plants. The venture will be entirely funded by LOLC Finance, while Mathurata Plantations will be offering fifty acres of private land area for plantations, whereas the planting undertaking will be handled by ‘Thuru’, under Vibhawa Solutions.

The project predominantly launched in the Deniyaya eco system, covers a fifty-acre land area belonging to Mathurata plantations, while five acres of land from Miyawaki forest and Butterfly gardens are also sheltered. In addition to the restoration scheme, a biodiversity study and a carbon setting mapping is also fused to the same project with the intention of further elevating the expression of the complete project outcomes. The entire assignment will go on for a period of continuous 18 months with the treble partnership.

The official agreement signing ceremony between LOFC, Mathurata and Vibhawa Solutions was held on the 12th of July 2022, at LOLC Holdings PLC, Head Office. The ceremonial event was conducted with the participation of the official signatories from each entity were, Montini Warnakula, Chief Operating Officer of LOLC Finance PLC, Pradeep Uluwaduge, Chairman/Non-Executive Director of Mathurata Plantations and Chief HR Officer of LOLC Holdings PLC , Sunjeevani Kotakadeniya, Director Mathurata Plantations and Chief Financial Officer of LOLC Holdings PLC, Buddhika Weerathunga, Head of Finance of LOLC Finance PLC, Heminda Jayaweera, Chief Executive Officer of Vibhawa Solutions and Hasanka Padukka, Chief Operating Officer of Vibhawa Solutions.



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Grand Leisure Resort brings luxury senior care to Negombo

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Grand Leisure Care and Wellness Resort has officially opened in Kochchikade, Negombo, introducing a resort-style senior living facility designed to international standards. Offering a blend of comfort, medical care, and wellness, the facility features private rooms with bathrooms, pantries, and modern living spaces. With 24/7 medical staff, wellness programmes, and family accommodation options, Grand Leisure caters to both independent and dependent seniors. The resort includes gardens, entertainment facilities, and high-speed internet to support residents’ well-being and connectivity. Positioned as a high-quality alternative to traditional elderly homes, it is open for short-term recovery or long-term stays, said a release.

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COYLE welcomes new chairman Manjula Wijesundara

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Manjula Wijesundara

The Chamber of Lankan Entrepreneurs (COYLE) last week announced the appointment of Mr. Manjula Wijesundara as its new Chairman for the year 2025/26. A COYLE news release described him as a “respected entrepreneur and passionate advocate for business-led development” and said he steps into leadership with a bold theme that reflects the needs of the hour—”A Year of International Growth.”

With the global economy undergoing profound shifts, the appointment marks a timely change in COYLE’s strategic focus, the release said.

In his inaugural remarks, the new Chairman articulated a vision for strengthening Sri Lanka’s economic resilience through robust international engagement and enhanced global market access for Sri Lankan businesses. His message was clear: sustainable economic recovery will come from expanding the nation’s presence beyond its borders.

“As Sri Lankan entrepreneurs, we must look outward and act with purpose. The next phase of our growth lies in our ability to compete, collaborate, and lead in international markets. This year will be about building bridges—with policymakers, global partners, and emerging economies—to position Sri Lanka as a trusted trade and investment partner,” Wijesundara stated.

Under his leadership, COYLE will actively pursue stronger relationships with international chambers, diplomatic missions, and trade bodies, laying the groundwork for more meaningful bilateral and multilateral cooperation. The Chamber’s focus will be to support and amplify the voice of Sri Lankan entrepreneurs globally—especially in sectors such as apparel, rubber, tea, ICT, and manufacturing, which continue to be among the country’s highest foreign exchange earners.

Wijesundara believes that strong international relations not only open new doors for exports but also attract critical investments and partnerships needed to modernise Sri Lanka’s industries and infrastructure. “In an interconnected world, diplomacy and business must go hand in hand. Our vision is to be a trusted ally in economic diplomacy,” he noted.

As part of this agenda, COYLE is preparing to lead a series of structured engagements with foreign policymakers and trade delegations. These efforts are aimed at helping Sri Lankan businesses overcome barriers to market entry, navigate evolving regulatory frameworks, and build long-term partnerships across key regions including South Asia, the Middle East, East Asia, and Europe.

By taking a proactive approach, the Chamber hopes to influence international trade conversations and ensure that Sri Lanka remains competitive in an increasingly protectionist global environment. COYLE also aims to foster stronger diaspora business linkages that could be leveraged to expand the country’s export footprint.

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Dialog Axiata Connects Sri Lanka to the World with the India-Asia Xpress Subsea Cable Strengthening Redundancy and Global Data Connectivity

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Unveiling of the Plaque (photographed from left to right): Mr. Lasantha Theverapperuma, Group Chief Marketing Officer, Dialog Axiata PLC; Ms. Lim Li San, Group Chief Operating Officer, Dialog Axiata PLC; Mr. Supun Weerasinghe, Director / Group Chief Executive, Dialog Axiata PLC; Mr. Vivek Sood, Group Chief Executive Officer and Managing Director, Axiata Group Berhad; His Excellency Badli Hisham Adam, High Commissioner of Malaysia; Mr. Harvinder Singh, Consul General of India; and Mr. Ranga Kariyawasam, Group Chief Technology Officer, Dialog Axiata PLC

Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider, announced the launch of the IAX (India Asia Xpress) submarine cable system—a significant investment aimed at bolstering Sri Lanka’s international network and future-proofing the country’s digital infrastructure. Consequently, Dialog’s total investments in international connectivity infrastructure surpassed USD 100 million.

This milestone was achieved through collaborative efforts with a consortium of regional telco partners and global hyperscalers, led by Reliance Jio—underscoring Dialog’s commitment to building strategic alliances that drive technological advancement and innovation.

The IAX cable system significantly enhances Sri Lanka’s global connectivity by providing high-speed, high-capacity bandwidth, catering to the growing demands of 5G, AI, and other data-intensive applications. Designed with cutting-edge technology, the IAX cable integrates seamlessly into Dialog’s existing subsea infrastructure, ensuring scalable and efficient data transmission between major global content hubs in Mumbai, Chennai, and Singapore. This development further cements Sri Lanka’s role as a key player in the region’s digital transformation.

To commemorate this strategic milestone, Dialog hosted an official launch event at the Dialog IAX Submarine Cable Landing Station in Matara. The event was graced by several distinguished dignitaries, including His Excellency Badli Hisham Adam, High Commissioner of Malaysia; Mr. Harvinder Singh, Consul General of India; Mr. Vivek Sood, Group Chief Executive Officer and Managing Director of Axiata Group Berhad; and Supun Weerasinghe, Director / Group Chief Executive of Dialog Axiata PLC, along with other representatives from Dialog.

Launch of the IAX Submarine Cable (photographed from left to right): Mr. Lasantha Theverapperuma, Group Chief Marketing Officer, Dialog Axiata PLC; Ms. Lim Li San, Group Chief Operating Officer, Dialog Axiata PLC; Mr. Ranga Kariyawasam, Group Chief Technology Officer, Dialog Axiata PLC; Mr. Harvinder Singh, Consul General of India; His Excellency Badli Hisham Adam, High Commissioner of Malaysia; Mr. Vivek Sood, Group Chief Executive Officer and Managing Director, Axiata Group Berhad; and Mr. Supun Weerasinghe, Director and Group Chief Executive, Dialog Axiata PLC.

The integration of the IAX cable reinforces Sri Lanka’s digital infrastructure with enhanced resilience and redundancy. By complementing the existing BBG (Bay of Bengal Gateway) and MSC (Maldives Sri Lanka Cable) systems, the IAX cable strengthens network reliability, mitigating risks associated with single points of failure. Dialog’s advanced Cable Landing Stations in Matara and Mount Lavinia ensure seamless, uninterrupted connectivity, offering businesses and consumers a more secure and robust digital experience.

Supun Weerasinghe, Director / Group Chief Executive of Dialog Axiata PLC said, “We are pleased to strengthen Sri Lanka’s digital backbone with the launch of the IAX submarine cable, made possible through collaboration with our valued global partners. This investment reinforces our commitment to empowering Sri Lankan lives and enterprises with world-class infrastructure, ensuring the nation stays ahead in an increasingly digital world. By improving network reliability and expanding capacity, we are working towards a more resilient and inclusive digital ecosystem.”

As a key player in the region’s connectivity landscape, Dialog continues to drive Sri Lanka’s position as a critical hub for global communications infrastructure. Through continuous investment in cutting-edge network solutions and strategic partnerships, Dialog is shaping the future of digital connectivity, empowering enterprises and consumers with world-class infrastructure that supports economic growth and technological innovation.

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