Business
SLITHM chief on a mission to bring back the glories of the Ceylon Hotel School era
By Harischandra Gunaratna
The chairman of the Sri Lanka Institute of Tourism and Hotel Management (SLITHM), Shirantha Peiris, in an interview with The Island Financial Review recently said that his dream was to take the school back to its ‘golden days’ when it functioned as Ceylon Hotel School.
‘The Ceylon Hotel School produced world class hoteliers, where some of them held top positions in hotels owned and operated by international chains in different parts of the world, he said.
Peiris assumed duties as the chairman of SLITHM in June 2022 and the institute has seen steady advancement during this short period, according to SLITHM sources.
When queried as to how the standards and the quality of such a prestigious institution had deteriorated, Pieris admitted that there was a drop in the quality of some of the students. He attributed the deterioration of standards to multiple reasons, which he has identified and rectified.
Some of the improvements effected by him relate to the student enrollment process. For example, students are now enrolled purely on merit, with external influence not being taken into consideration. The same practice is followed with regard to employee recruitment.
Pieris added: ‘When I left school in 1982, it was extremely difficult to join Ceylon Hotel School as there was a very clear and a transparent selection process. At present we adopt the same practice.
‘When I assumed duties, one of my first tasks was to look into the existing value chain of the organization and introduce efficiency.
‘The institution follows a strict enrolment process with multiple eliminating stages to ensure that the right candidate is selected.
‘We must ensure that only the right students who have a passion for hospitality are enrolled as this has a positive impact not only in meeting customer expectations, but often exceeding same when our students are in the industry. We have seen this many a time in the industry, where our students have maintained high standards in a consistent manner.
‘Deteriorating standards of English of some of the staff members and students in the school is an issue. It has to be addressed and recommendations are made to the senior management. English is mandatory when engaging in hospitality as well as when being employed.
‘The standards of students who pass out of the institution are high and they could secure employment in any top-class hotel in Sri Lanka with handsome remuneration packages. We need to ensure that every student meets these criteria and this cannot be done overnight. If you look around the leading hotels, most of the General Managers and senior management are former students of SLITHM (Ceylon Hotel School). We need to maintain these standards, be consistent and adopt the best practices at SLITHM. Our main objective is to train people for the local industry.
‘SLITHM had the very first Innovation Fair last week which was an excellent initiative by the Director General – SLITHM, where we were able to witness our students’ innovation and creativity, not restricting to the usual practices but also introducing AI driven technology. During the last two years we have introduced multiple events for students, including sports activities, which will be an annual event from now on.
‘We have nine schools, covering all provinces and at present seven schools run at full capacity and one of the constraints is that we need more space to run the institution. We have already communicated to the authorities requesting additional space to increase the number of students. We are working towards increasing the number of students at the Jaffna and Batticaloa schools as well.
‘It is imperative that we introduce and engage in global best practices and be current with the rapid changes that take place in hospitality and tourism. Restructuring and succession planning have commenced and are on-going.
‘We are also focused on the wellbeing of our employees and have introduced a “Pink Day”, which takes place in October as it is ‘Breast Cancer Awareness Month’. On this day we have health care experts creating awareness and all our female employees are invited to go through a screening process at no cost. We will be introducing employee engagement initiatives too to ensure that we have a work force that is engaged in being high performers.
‘SLITHM also has the “Samudra Training Hotel” (STH) located in the Colombo School. STH is currently going through a transformation process and will be a fully operational hotel before this winter. The Samudra Restaurant has been fully renovated and is already in operation. The other areas that will be operational soon are the pub, the terrace with a beautiful ocean view and all rooms refurbished with the support of the industry. We have already written to the industry and have received positive responses. The uniqueness of this operation will be that the hotel will be run by students. STH will be a place to talk about very soon.
‘Another area we are working towards is going paperless and introducing automation where applicable. In this day and age, we cannot be comfortable with old practices and need to embrace technology.
‘I must thank my staff for their contribution and continuous support in the transformation process as well as all stakeholders working closely with SLITHM.’
Business
‘NSB achieves outstanding profit in 2024, showcasing resilience and strategic growth amid economic changes’
The National Savings Bank (NSB) has once again solidified its position as a pillar of financial stability showcasing a year of remarkable resilience and strategic agility, unveiling its audited financial results for the year ended December 31, 2024. Against the backdrop of economic uncertainties, NSB reported a remarkable 126% increase in Profit After Tax (PAT), soaring to Rs. 16.29 billion from Rs. 7.22 billion in 2023. This phenomenal growth underscores the Bank’s unwavering commitment to financial prudence, operational efficiency, and shareholder value enhancement.
Reflecting on the Bank’s outstanding performance in 2024, Chairman of NSB, Dr Harsha Cabral PC, stated, “NSB’s financial success in 2024 underscores the strength of our strategic vision, disciplined execution, and unwavering dedication to our customers and stakeholders. Despite a challenging macroeconomic environment, we have demonstrated resilience, achieving record profitability while maintaining a strong balance sheet and a stable risk profile. Our commitment to sustainable growth, prudent governance, and financial inclusivity continues to drive our long-term success. As we look ahead, we will further strengthen our role as a key pillar of Sri Lanka’s financial sector, ensuring that we create lasting value for the nation and its people.”
Core Drivers of Profitability: Strength in Core Banking Operations A pivotal driver of this exceptional performance was the remarkable 146% surge in net interest income, soaring to Rs. 72.78 billion from Rs. 29.57 billion in 2023. This growth was achieved despite a 10% year-on-year decline in interest income, primarily stemming from an accommodative monetary policy stance that resulted in subdued yields on loans and government securities. However, the substantial 34% reduction in interest expenses to Rs. 130.97 billion outpaced the decline in income, propelling a significant expansion in net interest income.
“By recalibrating our deposit strategies and capitalizing on favourable rate environments, we have significantly strengthened our interest margins,” remarked the General Manager/CEO, Ms. Shashi Kandambi. “The Bank’s ability to optimize its asset-liability mix and enhance operational efficiencies has been instrumental in achieving this milestone, reaffirming its commitment to sustainable growth and value creation”, Ms Kandambi further asserted. (NSB)
4TH GLOBAL MINISTERIAL CONFERENCE ON ROAD SAFETY
The 4th Global Ministerial Conference on Road Safety was held from 19th February to 20th February, 2025, in the Kingdom of Morocco, in the beautiful city of Marrakesh.
Morocco is a remarkable country with kind and friendly people, making it one of the most attractive destinations in the world. Marrakesh, in particular, is renowned for its rich cultural heritage and stunning landscapes.
The conference was organized by the Kingdom of Morocco with the support of the World Health Organization (WHO). It provided an opportunity to host satellite events related to improving global road safety and advancing initiatives to achieve global targets.
The event was well attended, with approximately 1,500 delegates, including ministers from various countries, senior officials from United Nations agencies, and representatives from civil society, academia, and the private sector.
Key Discussions at the Conference
The conference served as a platform to accelerate actions aimed at improving road safety through the implementation of the Global Plan for the Decade of Action for Road Safety 2021–2030. The following topics were discussed:
Child Health Initiative Manifesto 2030
Protecting Young Lives – A Global Status Report on Child & Adolescent Road Safety
Perspectives on Meeting Challenge 2030 – What Has Worked, What Hasn’t, and What’s Next?
Supporting the Global Road Safety Agenda and Engaging with the Private Sector
Ensuring the Highest Levels of Safety Across Organizational Value Chains
FIA Road Safety Roadmap
At the conference, it was highly commended that the FIA Foundation has made significant progress in addressing global road traffic injuries in multiple ways. However, it was acknowledged that more work is needed to achieve the set road safety targets. Continuous efforts at the global, national, and city levels have been made to reduce deaths and injuries by implementing effective strategies such as safer vehicles, improved road design, speed limit management, standardized motorcycle helmets, and the adoption of new technologies.
Despite FIA’s efforts to reduce global road fatalities, the rise in population and motorization has led to an increase in road accidents. More than a million people lose their lives each year, while 10’s of millions suffer life-changing injuries.
The conference highlighted specific causes of the increase in accidents, including poorly designed highways, freeways, and road networks, which lead to unnecessary deaths and injuries. Other contributing factors include motorists failing to follow road signs and speed limits and the poor quality of safety helmets.
However, in Sri Lanka according to Statistics of Police Department, 30,000 accidents occur during each year. 2,500 accidents per month, 85 accidents daily and 8 fatal accidents per day.
Ensuring safer vehicles for all drivers and passengers is a fundamental right, regardless of where they live. The conference noted that some regions still sell cars that fail to meet United Nations safety standards. Notably, the Government of India launched the ‘SAFER CARS FOR INDIA’ campaign in 2023 to address this issue.
It is crucial for Sri Lanka to address the unsafe modification of vehicles and the installation of hazardous motor accessories, as recent accidents have shown that many passenger deaths and injuries occurred due to such modifications.
Furthermore, making rear seatbelt use mandatory for all passengers in cars and buses is essential to improving road safety by bringing Amendment to Motor Traffic Act is very important by Ministry of Transport
In Sri Lanka, Automobile Association of Ceylon represents following Committees and Agencies:
National Council for Road Safety
Safer & Cleaner Roads headed by Presidential Secretariat
Standing Committee on Traffic, Highways and Transportation of Colombo Municipal Council
Appointment to High – Level Committee to provide Directions to Address Road Safety Challenges in Sri Lanka.
Automobile Sector Industry Skills Council
Public Utility Commission of Sri Lanka
Moving Forward
If Sri Lanka adopts Globally recommended Road Safety measures, Sri Lanka should be able to achieve the Global Road Safety Goals by 2030.
The Automobile Association of Ceylon will facilitate and assist the Government of Sri Lanka in achieving these targets and road safety goals by 2030.
By: Prasanna De Zoysa
Sectional Chairman
(Road Safety, Buildings & Environmental)
Automobile Association of Ceylon
In celebration of Women’s Month, LOLC Life Assurance is proud to introduce a special initiative that offers greater protection and meaningful rewards for women. Throughout March 2025, females who purchase a critical illness policy with a minimum sum assured of Rs. 1 million will receive an additional 50% cover of up to a maximum of Rs. 1 million at no extra cost, exclusively for female-specific critical illnesses, including, breast cancer, womb cancer, and cervical cancer. This complimentary cover will remain valid throughout the policy period. Furthermore, if the policyholder is male and has included his spouse under the policy, she will also be eligible for this special benefit without any changes to the coverage.
As part of this initiative, LOLC Life Assurance is also rewarding mothers. All policyholders who give birth during March 2025 will receive a cash reward of Rs. 25,000 provided their policies were obtained on or before 31st December, 2024 and remain active at the time of delivery.
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