Business

SLIIT graduates receive postgraduate scholarships from prestigious German universities

Published

5 years ago

2021/03/18

Confirming SLIIT’s ranking as the nation’s premier higher education institute and its students’ quality, several graduates received scholarships to pursue their postgraduate studies in prestigious universities in Germany.

SLIIT recently celebrated the first batch of SLIIT alumni students who will transfer to Germany for postgraduate studies.

Praveen, Hasal and Varuni have enrolled at the University of Bremen for postgraduate programmes in MSc Control, Microsystems and Microelectronics. The University of Bremen is among one of Germany`s top eleven universities of excellence. It is renowned for its strengths in the sciences and engineering, disciplines as well as the humanities and the social sciences.

Binura Perera is a recipient of the DAAD (Deutscher Akademischer Austauschdienst) Scholarship awarded by the German government for potential leaders from developing countries. Remarkably this scholarship for the renewable energy domain has been awarded to a Sri Lankan after a lapse of 15 years. He is pursuing the Masters in Renewable Energy (PPRE) at the University of Oldenburg, which is considered the oldest postgraduate course in Renewable Energy in Europe and home to several leading brands, products and prestigious alumni in the renewable energy field. The opportunity to study the course is given only to 22 promising candidates who have proven their calibre during a rigorous selection involving 1000+ applicants from around the world.

After graduating from SLIIT in 2017 with the award for the best performer and a first-class degree in Mechanical Engineering, Binura has made great strides in creating sustainable energy benchmarks for the apparel industry. As the group lead energy engineer for Brandix Apparel Limited in 2018/9, he and his team successfully obtained the World Green Building Council recognition for the world’s first carbon-neutral apparel manufacturing facility. The team achieved the world’s second-highest score for a green manufacturing plant (LEED) awarded by the US Green Building Council for the Brandix Batticaloa factory, with several first in Sri Lanka and first in the region projects.

Commenting on these scholarships, Prof. Nimal Rajapakse, Deputy Vice-Chancellor (Academic) of SLIIT said, “We are extremely proud that our students received these scholarships from prestigious institutions in Germany.”

This is not only recognition of their academic abilities but also showcases SLIIT’s track-record in producing world-class graduates who can compete with the best in the world. We are confident that these graduates will make the best out of this wonderful opportunity and serve our nation after they complete postgraduate studies.”

Before studying in Germany, Varuni graduated from SLIIT with a BSc in Electrical and Electronic Engineering, achieving First class honours. During which she was also awarded the Dean’s List recognition for three consecutive years. Since mid-2020, she has been studying for her MSc. in Control, Microsystems and Microelectronics at the University of Bremen, Germany. She was employed as an Assistant Lecturer at SLIIT’s Engineering Department before leaving for Germany. Varuni’s research interests include Computer Vision and Image processing, Machine learning, etc.

Praveen was an Academic Instructor at SLIIT’s Department of Electrical and Electronic Engineering. He graduated from SLIIT with a BSc Electrical and Electronic Engineering and was awarded the Dean’s List recognition. His research interests include Machine learning, Embedded Systems, Computer Vision and Image processing, etc.

Hasal was employed as an assistant lecturer at SLIIT’s Engineering Department after graduating with a BSc. Electrical and Electronic Engineering. He obtained first – class honours. A member of the Institution of Engineering and Technology (MIET), Hasal interned as a trainee at the Ceylon Electricity Board and the Airport & Aviation Authority. SLIIT offered him several semester scholarships based on his continuous superior academic performance. He was also recognised on the Deans’ Lists from 2016-2018.

Explaining their pathway in attending the German University, Praveen said, “All of us worked at SLIIT for one year after graduation. We worked on a project together that focused on a human gait cycle detection/prediction algorithm using low computation with Dr. Nimsiri Abhayasinghe, Head, Department of Electrical and Electronic Engineering. Varuni and I have worked on a project focused on a machine learning based lecture capturing system. Hasal’s project was based on virtual power plants for power system flexibility. We are excited to study in a country that is world-renowned for its technology inventions and industrial capacity. We reached this milestone because of the quality of education offered by SLIIT look forward to this new exciting higher education phase in our lives.”

Image One – Binura Perera, a recipient of the DAAD Scholarship awarded by the German Government

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Business

A Historic First: Sri Lanka’s capital market leaders bring investor forum to Saudi Arabia

Published

6 hours ago

2026/02/6

Thilina Walpola

Key dignitaries at the Saudi investor forum

The Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE), in association with the Embassy of Sri Lanka to the Kingdom of Saudi Arabia, successfully convened an investor forum on Saturday 24th January 2026 at the Radisson Blu Hotel, Riyadh Convention & Exhibition Center. Alongside the forum, the SEC and CSE facilitated a meeting with the Public Investment Fund (PIF) which is Saudi Arabia’s main sovereign wealth fund.

The forum was organized to engage directly with the vibrant Sri Lankan expatriate community in the Kingdom and international investors, highlighting compelling opportunities within Sri Lanka’s capital market following the country’s successful exit from sovereign default and restoration of macroeconomic stability.

The forum was marked by the presence of several senior level policy officials, market leaders and market regulators including; Dr. P. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka (CBSL); Chathuranga Abeysinghe, Deputy Minister of Industry and Entrepreneurship Development; Ameer Ajwad Ambassador of Sri Lanka to the Kingdom of Saudi Arabia.; Senior Prof D.B.P.H. Dissabandara, Chairman of the SEC; Ray Abeywardena, Director of CSE; and Dr. Naveen Gunawardane, Co-Founder and Managing Director of Lynear Wealth Management.

In his welcome address, Ameer Ajwad stated, that a significant opportunity remains in broadening public participation in the capital market of Sri Lanka. As financial literacy and investment awareness among potential investors are limited, the investor forum would serve to bridge the knowledge gap. The forum offered an excellent opportunity for first-time investors, overseas investors, and those seeking to enhance their knowledge, to learn how to invest prudently, manage risk, and build wealth with discipline and confidence. Ambassador invited participants to make full use of the presence of high-level authorities from Sri Lanka’s key financial institutions, such as the Central Bank of Sri Lanka, the SEC, and the CSE, and to explore investment opportunities in Sri Lanka’s capital market, not only as a pathway to financial growth but also as a meaningful contribution to Sri Lanka’s resilience and long-term prosperity.

Business

CIC Holdings’ 9MFY26 revenue reaches Rs.70 bn

Published

6 hours ago

2026/02/6

Thilina Walpola

Agriculture-rich diversified conglomerate CIC Holdings PLC (CSE: CIC) recorded a consolidated revenue of Rs. 70.28 billion for the nine months ended 31 December 2025 (9MFY26), reflecting an increase of 8.69% YoY compared to the corresponding period of the previous year.

The Group’s gross profit increased by 10.11% to Rs. 18.42 billion, with the gross profit margin for the period under review improving to approximately 26%, supported by disciplined pricing and product mix optimisation. Profit after tax (PAT) increased to Rs. 5.97 billion from Rs. 5.70 billion in the corresponding period of the previous year, despite losses incurred in parts of the Group’s agri operations following the impact of Cyclone Ditwah, which disrupted cultivation activity during the Maha season.

The Group’s Crop Solutions sector remained the largest contributor to consolidated revenue, accounting for approximately 44.7% of total revenue, followed by Livestock Solutions at 21% and Health & Personal Care at 20.18%. The remaining sectors, Industrial Solutions and Agri Produce, contributed 8.6% and 6.4% to Group turnover respectively. Health and Personal Care , particularly export-driven product lines, recorded improved performance during the period, alongside continued growth in feeds, poultry, and veterinary care solutions, which supported the Group’s overall operating results.

Despite cyclone-related disruption to cultivation cycles, the Group delivered a strong operating performance, with EBITDA and operating profit (EBIT) both recording year-on-year growth. Operating profit (EBIT) closed at Rs. 9.67 billion, compared to Rs. 8.62 billion in the corresponding period of the previous year, reflecting the strength of the Group’s diversified portfolio and disciplined cost management.

During the period in review, key Group businesses across the five industry sectors, namely Crop Solutions, Agri Produce, Livestock Solutions, Industrial Solutions, and Health & Personal Care, continued to perform resiliently. Crop Solutions revenue increased from Rs. 28.06 billion to Rs. 32.32 billion, while Livestock Solutions revenue grew from Rs. 13.35 billion to Rs. 14.60 billion. Health & Personal Care revenue improved from Rs. 14.29 billion to Rs. 14.46 billion, supported by herbal health product exports and steady domestic demand. Revenue from Agri Produce increased from Rs. 4.35 billion to Rs. 4.64 billion, while Industrial Solutions revenue rose from Rs. 6.07 billion to Rs. 6.28 billion.

Commenting on the performance, CIC Holdings Group CEO Aroshan Seresinhe said, “Despite the disruption caused by Cyclone Ditwah to agricultural activity during the Maha season, the Group remained focused on supporting farming communities through well clean-up operations, field renovation, and the restoration of cultivation activity.

Business

CSE regains some of its bullish verve as turnover hits Rs.11 billion

Published

6 hours ago

2026/02/6

Thilina Walpola

CSE trading reflected a bullish trend yesterday due to positive quarterly corporate earnings coupled with lower Treasury Bill yields, market analysts said.

Further, institutional participation contributed more than 50 percent to the day’s turnover.

Amid those developments both indices moved upwards. The All Share Price Index went up by 63.67 points, while the S and P SL20 rose by 12.58 points.

Turnover stood at Rs 11.1 billion with10 crossings. The top seven crossings were: JKH 189.5 million shares crossed to the tune of Rs 4.2 billion; its shares traded at Rs 22.70, HNB 3.5 million shares crossed for Rs 1.48 billion; its shares traded at Rs 422, Hemas Holdings 11 million shares crossed for Rs 376.2 million; its shares traded at Rs 34 20, Commercial Bank 1.5 million shares crossed for Rs 336.8 million; its shares traded at Rs 224.50, Sampath Bank 600,000 shares crossed for Rs 93.6 million; its shares sold at Rs 156, Laugfs Gas 868,000 shares crossed for Rs 51.6 million; its shares sold at Rs 71 and Sierra Cables 1 million shares crossed for Rs 36.7 million; its shares sold at Rs 36.70.

In the retail market top seven companies that mainly contributed to the turnover were; Ceylon Land Equity Rs 385 million (20 million shares traded), Commercial Bank Rs 373.9 million (1.7 million shares traded), Luminex Rs 247.2 million (26.7 million shares traded), Colombo Dockyard Rs 152 million (one million shares traded), TJ Lanka Rs 152 million (four million shares traded), Easter Merchants Rs 142 million (8.7 million shares traded) and RIL Properties Rs 116.9 million. During the day 441.3 million share volumes changed hands in 44406 transactions.

It is said that manufacturing sector counters, especially JKH, led the market while the banking sector also performed well, especially HNB and Sampath Bank. Further, the capital goods sector too performed well.Yesterday the Central Bank’s US dollar buying rate was Rs 305.78 and selling rate Rs 313.32.

By Hiran H Senewiratne