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NCC focusing on SDGs, inclusivity and equality



Speech by the President of National Chamber Nandika Buddhipala 63rd Annual General Meeting

(Continued from Saturday)

Collaborations with Professional Institutes

With the view of developing business opportunities for both MSMEs sector and the Corporate Sector the Chamber singed MoUs with the Association of Chartered Certified Accountants (ACCA), Chartered Financial Analysts (CFA Society) Sri Lanka.

National Business Excellence Awards 2021

The most awaited business benchmark program, the National Business Excellence Awards 2021 (NBEA), was launched on the 16th of November 2021. Chamber initiated a fresh approach to structure the content of the NBEA Application to capture current trends shaping the industries and businesses across world with further emphasize on securing long-term sustainability through Environmental, Social and Governance (ESG) initiatives required to create long-term value for all, not just for selected few.

The final event is scheduled in February/March 2022 – to be conducted with compliance to all health regulations. It is very encouraging to receive over 100 applications for the competition.

Sustainable Development Goals

As the country’s foremost Chamber in business development, NCCSL’s focus on business sustainability has grown gradually over the years. Its services to members and businesses, especially in the micro, small and medium sectors have an unmistakable undertone of sustainable development, with a strong focus on inclusivity, diversity and equality. Intrinsically, the National Chamber of Commerce is responsible for developing businesses to reach their potentials, while embedding a consciousness for social development and environmental sustainability into organizational actions, values and objectives.

We have embarked on a journey giving the emphasize on Sustainable Development Goals, inter alia, Quality Education – Ensuring inclusive and quality education and promoting lifelong learning opportunities for all, Gender Equality – Achieving gender equality and empowering all women and girls, Reduce Inequality – Reducing inequality within and among Sri Lanka, and Partnership for Goals – Strengthening the means of implementation and revitalizing the global partnership for sustainable development.


The all of our activities during the last year and moving forward this year also will be based on our Vision to be the leading source of services and assistance to businesses countrywide for promotion of domestic and foreign trade with special emphasis on the development of Micro, Small and Medium Enterprises. We will endeavor to make sure our strategies and activities moving forward also to be align with Sustainable Development Goals and upholding diversity, inclusivity and equality in creating long-term value for all in the society enhancing the power through unity.

In order to enlighten the stakeholders I would like to briefly elaborate on our expected activities in the near future.

NCCSL is planning to join with an international Webinar on “Connecting South Asia with Global Markets through Hong Kong” jointly organized by Hong Kong Trade Development Council (HKTDC), Federation of Indian Chambers of Commerce & Industry (FICCI), Dhaka Chamber of Commerce & Industry (DCCI) and Federation of Nepalese Chambers of Commerce & Industry (FNCCI) on 10th February 2022.

We will be working with St. Petersburg International Economic Forum (SPIEF) organized by The Roscongress Foundation in Russia during June 2022 which is one of the largest events of this nature in the world.

NCCSL is planning to revive the Meet the Ambassador initiative physically which we could not continue due to Pandemic, however, it is expected to recommence the event moving forward in order to facilitate trade, exports and investments.

Further, we are expecting trade and investment delegations from Sultanate of Oman and Bangladesh in the near future with a view to facilitate trade, export and investment opportunities among our nations.

Further, NCCSL is expecting to launch entrepreneurship development program in both Sinhala and Tamil language throughout the island in order to uplift required skills of doing business, business planning, finding markets and finance, improve taxation knowledge and financial literacy of our SMEs.

I take the opportunity to express my sincere gratitude to all the office bearers, council members and the NCCSL team led by CEO/Secretary General Bandula Dissanayake; without your immense support NCCSL wouldn’t have achieved the success in every activity we engaged in.

Thank you.


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Global CEO Forum fetes one of most influential SL entrepreneurs



In tribute to the late Merril J. Fernando, the esteemed Founder of Dilmah Tea, the Global Brand Creator 2023 Award was bestowed at the Global CEO Forum held recently in Sri Lanka. This prestigious accolade was presented to Kirmali Fernando (the daughter-in-law of late Merril J. Fernando) by the Governor of the Central Bank Dr. Nandalal Weerasinghe, Kataro Katsuki, Deputy Head of Mission at the Embassy of Japan in Sri Lanka, Janaka Abeysinghe, CEO -SLT MOBITEL, Dr. DMA Kulasuriya, Director General-NIBM, Ahamed Ikram, Director-Emerald International , Dilanga Karunaratna- Director Otto Bathware and Anura Siriwardena, Chairman-Global CEO Forum.

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Coca-Cola Sri Lanka extends its ‘Adopt A Beach’ program for a third year



The volunteers from Coca-Cola's ‘Say We Care’ team, Clean Ocean Force, the media, and the Chief Guest.

Coca-Cola Sri Lanka Ltd. proudly continues its mission to safeguard Sri Lanka’s shorelines by extending the ‘Adopt A Beach’ initiative for a triumphant third year. This exciting announcement aligns with the celebration of International Coastal Cleanup Day on September 16, 2023, emphasizing the paramount significance of coastal preservation.

Commemorating the partnership with an exclusive beach cleanup and an enlightening session at Crow Island Beach, the day’s proceedings were honored by the presence of the Governor of the Western Province and Marshal of the Sri Lanka Air Force, Roshan Goonetileke and key government stakeholders representing the Ministry of Local Government, Colombo Municipal Council, Environmental Police Division, Coastal Conservation Department, Waste Management Authority and the Crow Island Beach Management Society.

Additionally, underlining the vital role that the youth of our nation play in forging cleaner and safer coastal regions, particularly through the realms of media and volunteerism, the occasion also brought together young talents from the media sector and a dedicated team of volunteers from the Clean Ocean Force, Clean Ocean Force Youth Club of the Ocean’s University, Clean Ocean Force Youth Club in Negombo, Rotaract Club Colombo Regent, Shri Vimukthi Youth Association, youth from International Schools and Adfactors Public Relations Lanka.

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PLC’s profits surge 80.9% in Q1, amidst challenging environment



People’s Leasing & Finance PLC (PLC), a pillar of strength and stability in Sri Lanka’s financial sector, successfully concluded the 1st Quarter of the fiscal year 2023/24 with a year-on-year increase in Profit of 80.9% in the midst of a challenging economic landscape.

PLC’s top line interest income recorded an impressive 10.2%, reaching Rs. 7,465 million owing to the increased investment income during the quarter. However, the company’s net interest income showed a modest fall when compared to the first quarter of 2022/23. This was mostly the result of higher interest expenses brought on by the repricing of deposits to higher rates in line with higher policy rates. Despite the stated decrease in net interest income, PLC was able to end the first quarter with a profit after tax (PAT) of Rs. 331 million as opposed to Rs. 183 million recorded in Q1 2022/23 thanks to the significant year-on-year reduction in Impairment Charges as well as reduction in operating expenses, demonstrative of an intensified commitment to internal sustainability.

Similarly, PLC Group also recorded a PAT of Rs. 552 million during Q1 2023/24, reflecting a year-on-year increase of 21.5% mainly driven by the significant reduction in the Group’s impairment charges and other losses for loans and receivables.

Even in the face of a highly inflationary environment, PLC successfully reduced total operating expenses by 3.5% compared to the corresponding quarter in the year prior due to a determined effort to increase efficiency through digital initiatives, right-sizing of branches, and improvements in internal processes. PLC recognized the significance of recalibrating its balance sheet in a setting not favourable to business expansion and took strategic measures to ensure the right sizing of its balance sheet resulting a total asset base of Rs. 155,380 million as of 30 June 2023. Backed by these strategic moves, total asset base of the PLC Group also remained resilient at Rs. 179,948 million as of 30 June 2023.

In an extremely volatile and complex business setting PLC adopted a highly disciplined liquidity management approach to ensure financial stability whilst maintaining capital adequacy ratios well ahead of the statutory minimums at the end of Q1. The majority of PLC’s funding needs were met through improved collections enabling PLC to remain watchful in growing its deposit base in a high-interest environment. Despite these measures, the deposit base of PLC remained robust at Rs. 93,228 million as of 30 June 2023, showcasing strong customer confidence. The Group deposit base also remained strong at Rs. 100,439 million, as at 30 June 2023.

Meanwhile, PLC retained its No.1 position as Sri Lanka’s Most-Loved Brand in Leasing and Finance category, as ranked by Brand Finance in LMD Brands Annual. The company’s steadfast dedication to excellence was also evident in its ascent from 51 to 36 in the esteemed “Most Respected Entities” ranking by LMD within just one year, further cementing its position as one of Sri Lanka’s most respected and trusted financial services providers.

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