Business
Sri Lankan govt. seen as mulling Singapore’s Temasek Holdings’ model on SOE listing
By Ifham Nizam
The Sri Lankan government might be thinking of Singapore’s Temasek Holdings’ model on State Owned Enterprises (SOE), when it comes to listing individual companies or pooling companies in the future, a stock market expert said.
Responding to queries at an Awareness Session on Regulatory Initiatives, New Products, and Sustainability Initiatives, recently at Taj Samudra, Colombo, Colombo Stock Exchange’s Chief Regulatory Officer, Renuke Wijayawardhane said that they have no idea about what the government’s decision is on this matter: `Which company they pick as model is not our call; it’s the government’s call’.
‘The Central Bank of Sri Lanka (CBSL) decides on the role models and decisions, he explained.
Wijayawardhane added: ‘The CSE’s daily turnover of Rs. 1.7 billion is low in comparison to that of last year.’ However, he agreed there was a positive cash flow.
The CSE’s expert team pointed out that their dedication to sustainability is motivated by commercial considerations.
Plans are in the pipeline to attract institutional investors. CSE will shortly launch an Environmental, Social, and Governance (ESG) index and grading system for listed companies that place a high priority on sustainable development, they explained.
CSE Senior Vice President of Research and Strategy Nishantha Hewavithana said that the organization is dedicated to advancing sustainability among listed firms.
Responding to queries, he said that there is more than USD120 trillion in assets under management by participants in the UN’s Principles for Responsible Investment (PRI) program.
PRI is an international organization whose mission it is to advance sustainable investment by incorporating environmental, social and governance (ESG) factors into the process of making investment decisions.
Hewavithana added: ‘By the first quarter of 2024, the CSE would be bringing an ESG rating system and an ESG index with about fifteen to twenty-five businesses to the Colombo Exchange.
‘The CSE would cover all expenses associated with this endeavor since it had teamed up with an international rating organization to evaluate the ESG score of every listed firm.
`The ESG index is not always about the companies who do the best in terms of ESG. They must be sizable and profitable because they must be liquid. The index will thus be subject to the following four requirements: size, liquidity, profitability, and ESG performance as determined by the ESG rating.
‘There are 49 stock exchanges worldwide that publish ESG indices and 34 stock exchanges that have made ESG reporting mandatory in their listing rules.’
The Central Bank of Sri Lanka today (07) presented its flagship publication, the Annual Economic Review for 2024 (AER 2024), to President and Minister of Finance, Anura Kumara Disanayake, highlighting the steady progress of Sri Lanka’s economic recovery following the country’s most severe downturn in recent history.
The report was officially handed over by Dr. P. Nandalal Weerasinghe, Governor of the Central Bank, during a special ceremony held at the Presidential Secretariat.
AER 2024 comprises four main chapters: Macroeconomic Developments, Conditions of the Financial System, Review of Central Bank’s Policies and Macroeconomic Outlook.
According to the Review, the Sri Lankan economy showed significant signs of recovery in 2024, following the deep economic crisis experienced two years ago. The recovery trajectory, though challenging, has been notably faster than that of many other debt-distressed countries.
Improvements in economic activity, a partial resurgence in purchasing power and reduced uncertainty are among the key positive indicators noted in the report.
The event was attended by Dr. Nandika Sanath Kumanayake, Secretary to the President, K. M. Mahinda Siriwardena, Secretary to the Treasury, Mrs. K. M. A. N. Daulagala, Senior Deputy Governor, Dr. C. Amarasekara, Assistant Governor, Dr. (Mrs.) S. Jegajeevan, Director of Economic Research and Dr. L. R. C. Pathberiya and Additional Director of Economic Research at the Central Bank Dr. V. D. Wickramarachchi.
[PMD]
Business
IceWarp expands into Sri Lanka, fostering European innovation in collaboration with FentonsIT
IceWarp, a global leader in business communication solutions, has officially launched its cutting-edge platform in Sri Lanka, bringing European expertise in email and collaboration solutions to support the country’s evolving business landscape.
This expansion is driven by a strategic partnership with Fentons Information Technology (FIT), the Information Technology arm of Hayleys Fentons Limited.
The grand launch event held at The Kingsbury Colombo on 4th April, 2025, was graced by several distinguished guests, including Chief Guest Mohan Pandithage, Chairman and Chief Executive of Hayleys PLC.
The presence of Adam Paclt, Global CEO of IceWarp, and Pramod Sharda, CEO for India and the Middle East of IceWarp, along with their global team, highlighted the significance of this expansion. Industry experts, government officials, corporate leaders, and CIOs from the banking, financial services and insurance sectors were in attendance as well, reflecting strong local interest in IceWarp’s European expertise.
With this launch, Sri Lankan businesses now have access to an affordable, scalable and secure alternative to Microsoft 365 and Google Workspace. IceWarp’s advanced Collaboration Suite integrates a wide range of tools into a single, unified platform designed to streamline communication and boost productivity. Offering flexible hybrid deployment options and cost-efficient solution, IceWarp enables organisations to optimise their operations without compromising security or functionality.
Eventistry Sports, a trailblazer in innovative sporting events, has unveiled the Sri Lanka Padel League (SLPL), the nation’s first franchise-based padel tournament, set to debut in June 2025. This groundbreaking league promises to redefine Sri Lanka’s sports landscape by creating a dynamic national platform for athletes while fostering unity among fans, brands, and communities.
The SLPL will showcase six franchise teams, each embodying the spirit of iconic Sri Lankan locales: the Colombo Chargers, Yala Rangers, Hikkaduwa Riders, Ella Hawks, Arugambay Vipers, and Trinco Warriors. These teams will not only ignite regional pride but also unite the country through a shared passion for padel—a fast-paced racquet sport merging tennis and squash, played on enclosed courts.
“The SLPL is more than a league; it’s a movement,” declared Karin Wijeratne, Director of Eventistry Sports. “By blending franchise sports with Sri Lanka’s vibrant culture, we’re creating a platform where players gain national recognition, fans rally behind their hometown heroes, and brands engage with communities in meaningful ways.”
The league’s launch on June 21–23, 2025, at Colombo’s Padel House courts (CR&FC) will kick off with three days of high-octane matches, preceded by a star-studded player auction on May 16th at The Vault, Colombo City Centre. Local talent—both professional and intermediate—will be drafted by franchise owners, with international registrations now open to elevate the competition’s global appeal.
Please log in to: www.slpadelleague.com and social media: @SriLankaPadelLeague (Facebook & Instagram) for more information.
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