Business Today

Business Today Top 30
2018-2019

RECOGNIZES THE RESILIENCE OF THE PRIVATE SECTOR

The Business Today TOP Corporate Award Ceremony was held for the 22nd year. The Chief Guest for the evening was Prime Minister Mahinda Rajapaksa. Prof G L Peiris, Chairman, Sri Lanka Podujana Peramuna, Basil Rajapaksa, Ajith Nivard Cabraal, Senior Advisor on Economic Affairs to the Prime Minister, Dr Seetha Arambepola, Governor, Western Province, and Shehan Semasinghe, State Minister of Development Bank and Loan Schemes were present on this occasion amidst a distinguished gathering of the corporate sector of Sri Lanka.

Business Today Top 30 2018-2019 Trophies.

The concept, design and song selection for the event was by Glenda Parthipan.
Photographs and videos of the Business Today TOP 30 2018-2019 can be viewed and shared online via businesstoday.lk

BT OPTIONS
CONFIDENT ABOUT THE FUTURE

Udeshi Amarasinghe, BT Options

Garuthara Sangarathnayen Awasarai, Venerable Theros, Honorable Mahinda Rajapaksa, Prime Minister of Sri Lanka, Prof G L Pieris, our guest speaker for the evening, Mr Basil Rajapaksa, Mr Ajith Nivard Cabral, Dr Seetha Arambepola, State Minister Shehan Semasinghe, Members of Parliament and distinguished ladies and gentlemen, we warmly welcome you.

We are blessed by the presence of Ven Elle Gunawansa Thero, Ven Diyapattugama Revatha

Thero, Ven Dr Kirinde Assaji Thero, Most Ven Siri Samanthabhadra Maha Thero, and Venerable Dhammanatha Thero.

Venerable Galboda Gnanissara Thero, Chief Incumbent of the Gangaramaya Temple has always been present at the Business Today Award Ceremony from its inception. The Thero is our guiding light, and has been our strength at all times. Always concerned about us, his advice is greatly appreciated. We will definitely miss Podi Hamuduruwo tonight, we wish him a speedy recovery and may the blessings of the noble triple gem be with Podi Hamuduruwo.

The pre-entertainment videos that were played from America’s Got Talent, each have an inspirational story-Cody Lee has autism, Tyler Butler Figueroa, is a cancer survivor, V Unbeatable, came all the way from the slums of Mumbai, The Ndlovu Youth Chair, hailing from a challenging area in South Africa, believes that if you can dream it you can do; Benico Byrant used to sing on the streets, whenever his parents used to allow him to do so, Emanne Beasha, the ten year old opera singer was born in Jordon and, the Youth Choir Detroit, all represent the resilient spirit and determination, and are all examples of champions in the making.

China is a great friend to Sri Lanka, as at now, China is facing an immense challenge, we wish to say that our thoughts are with China and its people, and we hope that the country will soon emerge from this challenging time. We are honored to have Prime Minister Mahinda Rajapaksa as our Chief Guest once again.

We congratulate the Prime Minister on the recent victory and wish him the best as he goes in for another election. In fact, in 2005, on the day Prime Minister Mahinda Rajapaksa received his Presidential nominations, he was the Chief Guest at the Business Today Awards and addressed the private sector. We are sure he can remember this day and many other award ceremonies thereafter as well. We thank you for being here with us today.

We are also happy that Prof GL Pieris is here with us today, Prof G L Pieris was, in fact, the first Chief Guest at the Business Today TOP corporate awards in 1997. We are sure that being here today brings back many memories. We thank Prof GL Pieris for accepting our invitation. Mr Basil Rapaksa, thank you for being here with us today, we are proud to have had you as our chief guest at our previous award ceremonies.

It is a great honor to have you with us today. It is very much apparent to everyone that the entire country benefited during President Mahinda Rajapaksa’s term. The economy was moving and the country was developing. The 30-year long conflict that had devastated the very fabric of our society, was ended, thereby providing peace and security to Sinhala, Tamil, Muslim and Burghers alike. We are able to travel to any part of the country freely. While the conflict was fought from one side, economic development continued on the other.

We are able to live in a peaceful and stable We are able to live in a peaceful and stable country because of the strength and direction of President Mahinda Rajapaksa, who did not waver in making the decisions, though challenging at that time. He ensured that no one interfered in the sovereignty of the country. No one could exert pressure. President Mahinda Rajapaksa, always ensured that the best was done for the country. To quote President Mahinda Rajapaksa from his speech given at the Parliament on May 19, 2009 following the victory over terrorism, quote, “I value my motherland first, second and third.

This should be so to you and to the entire nation. It is only our beloved motherland that we should all cherish and value.” Unquote.

President Mahinda Rajapaksa was aptly supported by then Defence Secretary Gotabaya Rajapaksa, former Minister and Advisor to the President, Basil Rajapaksa. We have mentioned this even before, the Prime Minister’s opponents used to say, they had not known the capabilities of Mahinda Rajapaksa’s brothers; President Gotabaya Rajapaksa and Mr Basil Rajapaksa. He was also supported by Mr Lalith Weeratunga, Dr P B Jayasundera, Mr Gamini Senarath, and Mr Ajith Nivard Cabraal who ensured that the economy was strong and that the enabling environment allowed all to make use of the opportunities available and prosper. As mentioned by Prime Minister Mahinda Rajapaksa in his speech in 2005 at our awards ceremony, ‘the private sector is the engine of growth. He and his Government ensured that all grew during the period of 2006-2015.

We hope with the election of President Gotabaya Rajapaksa and with a formation of new Government, the country will resume its journey to prosperity.

Moving on to our hotels, Arugambay, today has become a buzz word and a must visit destination in Sri Lanka. Arugambay was at number eight in the Lonely Planet’s Best in Asia, even before the country was named number one. It is the first time that a Sri Lankan destination has been named on the list. Yet, not so long ago this coastal town in the southeast of the country was considered seasonal and famed only for surfing.

BT Options continuously promoted Arugambay and Whisky Point, showcasing that it is a destination for the entire year, thus Arugambay has been elevated to a global destination through our efforts. It is the first tourist spot to be ever mentioned as a must visit destination.

Looking back over the year, our hotels in Arugambay and Whisky Point continue to attract tourists who appreciate experiences. They are young travelers and many are young families as well. Tourism today is all about experiences.

Surfing is gaining popularity around the world, and even in Sri Lanka President Gotabaya Rajapaksa at the meeting on tourism emphasized that surfing is one of the key areas for Sri Lanka.

We congratulate the Prime Minister on the recent victory and wish him the best as he goes in for another election. In 2005, on the day, Prime Minister Mahinda Rajapaksa received his Presidential nominations, he was the Chief Guest at the BT Awards and addressed the private sector.

 Arugambay and Weligama have some of the best surfing destinations in the world. Sri Lanka Tourism should have international surfing tournaments every year, which will establish Sri Lanka as a serious surfing destination. There are lesser-known surfing destinations that have become qualifying venues because they have gained greater exposure by hosting international tournaments.

We invite you to invest in Arugambay and Whisky Point, and also in surfing tourism. Paper Moon Kudils in Whisky Point, in partnership with P Partheepan and, Arugambay Roccos in partnership with A M Naleem as well as ArugamBay PodBay, in partnership with Don Jayasuriya, these properties are all BT Options’ creations.

We will be venturing into the southern coast of Sri Lanka very soon. To Weligama; the name of the new property is ‘Weligama Wadiya’. The property is being developed together with the community. The name Wadiya is significant as it reflects the culture and lifestyle of coastal Sri Lanka. Mr Don Jayasuriya entrusted his property in Weligama to us as well and this project too is a collaboration with him. We thank Mr Don Jayasuriya for his confidence in us.

With all our properties we draw inspiration from Mr Shanth Fernando of Paradise Road and Mr Chandra Wickramasinghe of Culture Club Fame, and Theme Resorts. Umandawa Monastery in Melsiripura is concept of Ven Siri Samanthabhadra Thero. Umandawa is a unique retreat that exudes tranquility, serenity and peace. A place where one could learn the art of living through Buddhist philosophy, those who arrive at Umandawa ease into a journey of mindfulness, wellness and happiness. Umandawa is built in harmony with nature and reminiscent of ancient Sri Lankan Kingdoms. BT Options has been entrusted with promoting the property and our appreciation to Ven Siri Samanthabhadra Thero for entrusting us with this responsibility.

The policy direction of President Mahinda Rajapaksa after 2005, saw several imported goods such as Ulundu and other crops, being grown in Sri Lanka, thus providing opportunities for Sri Lankan farmers. It was the same in other areas of the economic sphere, where Sri Lanka businesses that had the capacity and capability to create and produce on an international level were encouraged. It was on this same policy direction that President Mahinda Rajapaksa with great difficulty, was able to bring the entire production and printing of the SriLankan Airlines’ Serendib magazine to Sri Lanka in 2010.

This was a result of the struggle that BT Options had fought for over 20 years. President Mahinda Rajapaksa was confident that a Sri Lankan company could fulfill this task. Employment was generated and the revenue remained within the country. The entire cost of production and printing was borne by BT Options. We provided 15,350 copies free of charge to the Airline and also paid them a monthly fee of USD 16,667. No cost was incurred on SriLankan Airlines.

Prior to BT Options, during the history of Air Lanka and SriLankan Airlines the production and printing of Serendib was done overseas with the Airline bearing all costs. We made the magazine a truly Sri Lankan publication providing opportunities for Sri Lankan clients to advertise in the magazine. The magazine was made international by increasing its frequency to monthly as it was published once in two months before. We introduced Sinhala and Tamil articles to the magazine for the very first time in the history of the Airline. The editorial content focused on Sri Lanka, thus promoting the heritage, culture, lifestyle and nature/wildlife of the country. We always highlighted the positive aspects of the country.

In 2016, with the call for proposal SriLankan Airlines attempted to award the production and printing of the magazine to a foreign company. The then Government intervened and ensured that the production and printing remained in Sri Lanka.

For the first time in the history of the Airline, the magazine has not been published for four consecutive months since December 2019. This has been a crucial period for Sri Lanka, with the change in political leadership, as well as it being the high season for tourist arrivals, with a much needed boost required. Revenue has been lost for the Airline, and Sri Lankan advertisers have lost the opportunity to promote their products and brands.

The production and printing of the magazine was brought to Sri Lanka with great difficulty.

It was proven that an international level publication can be produced in Sri Lanka. BT Options provided the opportunity for Sri Lankan advertisers to promote their Sri Lankan brands and products to an international audience. It was Sri Lanka that benefited by BT Options publishing Serendib. During the period of ten years, BT Options never delayed the magazine even once. The magazine was delivered on time, and the magazine was onboard on the first of every month. Furthermore, there was no complaints or dissatisfaction on quality from SriLankan Airlines, advertisers and passengers or decision makers of the country for the duration of the period that BT Options produced the magazine.

The printing of Serendib was done by Aitken Spence Printers, who have a portfolio of printing work done for overseas clientele as well.

We also wish to express our appreciation to our other printers Karunaratne & Sons and Sharp Graphics.

BT Options is the publisher of Explore Sri Lanka, Business Today, Target, and Domus Sri Lanka. We have been publishing Explore Sri Lanka for over 33 years and our name is renowned for its quality and standard. Explore Sri Lanka is the only magazine in the world to have been published continuously for over three decades promoting a country. Furthermore, Domus Sri Lanka is an international publication. Domus Italy invited BT Options to publish Domus in Sri Lanka and have been appreciative that we have maintained the quality to international standards.

BT Options was approached by Ukraine Airlines for their inflight magazine, Panorama, on numerous occasions. However, the contract between SriLankan Airlines and BT Options restricted us in submitting our proposal for the magazine.

We all realize the vacuum created in all spheres especially in the economy and defence by the absence of the Rajapaksas. The only growth that we saw in the country during that time is the Sri Lanka Podujana Peramuna (Pohottuwa).

We are also proud to say, that the Rt Hon Lord Naseby requested BT Options to print and publish his book in Sri Lanka. His decision was based on our publications. Even though we were hesitant, Lord Naseby insisted because he believes we are the best in Sri Lanka.

We strongly believe that the production and printing of Serendib should remain in the country, because it is a Sri Lankan company that can understand the culture, heritage and values of the country. Advertising in Serendib should be more than 95 percent of Sri Lankan brands and products.

President Gotabaya Rajapaksa and the Government emphasizes that Sri Lankan businesses have to be given priority. We wish to extend our gratitude to President Gotabaya Rajapaksa, Prime Minister Mahinda Rajapaksa, Mr Basil Rajapaksa, Mr Milinda Moragoda, Ven Uduwe Dhammaloka Thero, Ven Kirinde Assaji Thero, Mr Lalith Weeratunga, Mr. Sunimal Fernando, Dr P B Jayasundera, Mr Gamini Senarath, Mr Udaya Gammanpila, Dr Nalaka Godahewa, and Mr Dilith Jayaweera for their unwavering support.

When we look at the political landscape in Sri Lanka, we have seen the emergence of a new party that has won over the population and has enabled the victory of a first time President. The architect of the Sri Lanka Podujana Permuna is none other than Mr Basil Rajapaksa. He always worked from behind the scenes. From 2005 onwards he ensured the victory of the UPFA and President Mahinda Rajapaksa. He accepted the defeat of 2015 and from that point onwards, took on the responsibility and made the plan to ensure victory. Even though many, some conveyed through us, as well, asked him not to return to the country, he came and faced all challenges, thereby ensuring that his name was cleared and protected. He is well-known for his astute leadership and political mind. He is a hard-worker, never accepting that anything is impossible.

Business Today has seen and experienced first hand his special aptitude and ability towards his work. Mr Basil Rajapaksa knows no day, night nor holiday, he works tirelessly to achieve each task and he makes others work with the same vigor. If you ask him any facts or figures, his ability to reply immediately is indeed inspiring. He made a plan and ensured its success. He said before hand how the country would turn. It is indeed an impressive story of how a new party succeeded and became victorious. The Sri Lanka Podujana Peramuna under the direction of Mr Basil Rajapaksa ensured the victory of President Gotabaya Rajapaksa. Many big names in the political sphere in Sri Lanka attempted such political changes before but they failed.

This is a lesson not only for the political sector but also for corporates. If he was a CEO of a company, his organization would definitely conquer the world. We are proud to have been a part of his team from the beginning.

We all realize the vacuum created in all spheres especially in the economy and defence by the absence of the Rajapaksas. The only growth businesses have to be given priority. We wish to extend our gratitude to President Gotabaya Rajapaksa, Prime Minister Mahinda Rajapaksa, Mr Basil Rajapaksa, Mr Milinda Moragoda, Ven Uduwe Dhammaloka Thero, Ven Kirinde Assaji Thero, Mr Lalith Weeratunga, Mr. Sunimal Fernando, Dr P B Jayasundera, Mr Gamini Senarath, Mr Udaya Gammanpila, Dr Nalaka Godahewa, and Mr Dilith Jayaweera for their unwavering support.

When we look at the political landscape in Sri Lanka, we have seen the emergence of a new party that has won over the population and has enabled the victory of a first time President. The architect of the Sri Lanka Podujana Permuna is none other than Mr Basil Rajapaksa. He always worked from behind the scenes. From 2005 onwards he ensured the victory of the UPFA and President Mahinda Rajapaksa. He accepted the defeat of 2015 and from that point onwards, took on the responsibility and made the plan to ensure victory. Even though many, some conveyed through us, as well, asked him not to return to the country, he came and faced all challenges, thereby ensuring that his name was cleared and protected. He is well-known for his astute leadership and political mind. He is a hard-worker, never accepting that anything is impossible.

Business Today has seen and experienced first hand his special aptitude and ability towards his work. Mr Basil Rajapaksa knows no day, night nor holiday, he works tirelessly to achieve each task and he makes others work with the same vigor. If you ask him any facts or figures, his ability to reply immediately is indeed inspiring.

He made a plan and ensured its success. He said before hand how the country would turn. It is indeed an impressive story of how a new party succeeded and became victorious. The Sri Lanka Podujana Peramuna under the direction of Mr Basil Rajapaksa ensured the victory of President Gotabaya Rajapaksa. Many big names in the political sphere in Sri Lanka attempted such political changes before but they failed.

This is a lesson not only for the political sector but also for corporates. If he was a CEO of a company, his organization would definitely conquer the world. We are proud to have been a part of his team from the beginning. We all realize the vacuum created in all spheres especially in the economy and defence by the absence of the Rajapaksas. The only growth Target magazine, which was first published in February 2007, was a result of our trip to Trincomalee. In Muttur, we could hear the shells firing as the conflict was ongoing, but at the same time, the country was also experiencing economic development, where new roads had enabled ease of travel. It was at this moment we decided to start the magazine on our own initiative to highlight the positive development in the country. We stopped publishing the magazine in January 2015 and once again resumed in January 2020 on our own initiative. We wanted to show the work done by the Government.

 The new Government has already done its part by lowering taxation and providing incentives for the private sector, thus corporates in Sri Lanka should now start moving in order to create greater momentum in the economy.

The Business Today TOP corporate award ceremony has been held annually even during difficult times, on our own initiative without any sponsorships. The new Government has already done its part by lowering taxation and providing incentives for the private sector, thus corporates in Sri Lanka should now start moving in order to create greater momentum in the economy.

All our relationships have been built on loyalty and trust and not those formed recently. We have formed relationships for over 30 years. It is for this reason that many support us. We respect everyone. This is evident from the distinguished gathering here today and we would like to show our appreciation to those who have supported us.

Venerable Galboda Gnanissara Thero, Chief Incumbent of Gangaramaya Temple, we thank you for your unwavering support and guidance throughout the years. Ven Diyapattugama Revatha Thero we appreciate your continuous support since the 1990s. which has been one of the reasons of the success of the company. Even during the challenging times as today.

Our appreciation to Venerable Uduwe Dhammaloka Thero, you have stood by us through difficult times, taking the initiative to support us. We are touched by your concern. We also thank Ven Kirinde Assaji Thero for his continuous support to us. Our appreciation to former President Madam Chandrika Bandaranaike Kumaratunga, Former President Maithripala Sirisena and former Prime Minister Ranil Wickremesinghe for their support and recognizing our potential.

We thank Mr Milinda Moragoda for this concern. He has supported us through difficult times since the 1990s. We wish to thank Mr Harry Jaywardena for his continuous support from the time of our inception. He has always shown his concern towards us. Our appreciation to Mr Manilal Fernando, for his support over the years. We wish to thank Mr Thusitha Wijayasena for his concern and support. We wish to thank Mr Mohan Peiris, Mr Niththi Murugesu, Mr Anil Tittawala, Mr Sudath Perera and Mr Premnath Dolawatte for their advice and guidance.

We thank our advertisers, especially Mr Anselm Perera of Mlesna, who has been advertising with us since 1987, and also Mr Shanth Fernando who has been advertising with us since the 1990s. We thank all our advertisers. We thank Ruwan Ferdinandez and Thusitha Halloluwa for their support throughout the years. We thank Mr Charles De Silva for giving his property to us and for his continuous support.

Our appreciation to Mr A S Kaleel for being with us during difficult times and for his generosity.

We thank Mr Dinesh Weerakkody, Mr Keith Bernard and Mr Shiron Gooneratne, the trio who were part of the Business Today TOP corporate awards at its inception. Although they are no longer a part of the process due to their commitments in public listed companies, we acknowledge their contribution from the inception of the awards, and we continue to seek their advice, guidance and assistance. We also thank Mr Suren Rajakarier of KPMG Sri Lanka, for his continuous participation in the process.

We thank Mr and Mrs Jayaratne from Sterling Flowers for their support. At the Hilton Colombo, we feel at home. We wish to thank, Manesh Fernando, Arosha Perera, Gigi De Silva, Kosala Walakuluge and the banquets and food and beverages teams as well as all the staff at the Hilton Colombo for their continuous support.

We congratulate the Business Today TOP 30 2018-2019 for their excellent performance.

The concept and design of the event and the song selection were by Glenda Parthipan.

The songs played this evening were sung by veteran artiste Mohideen Baig and Ishak Baig.

We thank everyone for being present here. today and making this event a success.

BLESSINGS FROM MOST VEN HEENBUNNE KONDANNA NAYAKA THERO

Most Ven Heenbunne Kondanna Nayaka Thero, Chief Priest of Staten Island Buddhist Maha Viharaya in New York addressed the gathering on behalf of Ven Galboda Gnanisaro Thero, Chief Incumbent of the Gangaramaya Temple.

Ven Maha Sangha, Honorable Ministers, Governor of Western Province, distinguished guests, and members of the business community. We are very happy to be here this evening. This is my first experience with a business community. As mentioned earlier, Podi Hamuduruwo was the one who did this presentation since the inception on this stage.

Since he is not well, as many of you know, that Ven Assaji and myself are here, wishing recovery to Podi Hamuduruwo soon. I would like to share few words with you.

First I would like to say thank you to Mr Mathi Parthipan and Glenda Parthipan for inviting us to be here this evening. I was thinking while I was seated, sometimes you may have thought what have monks to do with the business community? At the time of the Buddha, I thought Buddha was also with that community and he provided his guidance and advice on how to be successful This is what is Podi Hamuduruwo did I believe to many of you, as the head of BT Options appreciated his presentations and advice.

The Buddha guided people on how to balance their lives and how to balance their businesses. We all need that balance. If you do not have a good balance sheet, you would not be able to be successful. The Buddha’s economic theory was very simple. He did not encourage us to be selfish in business, you all do the business and you all have to have customers. Without customers, there is no business, we have to wish for their wellbeing as well. If we just think of our own profit margin, we will not be able to do that. We have to think in terms of business partners too. The Buddha’s advise was you have to consume one portion, two portions of your income you have to invest, and fourth portion to save for future needs. It is a very simple economic theory.

I believe we can still apply this today. This idea was given to the business committee at that time and all the Situwaru, millionaires that time were consulting the Buddha. Even though the Buddha was encouraging us to curtail our cravings, you are not doing the business with craving but with a thought of success. He never discouraged anybody’s success. He always encouraged to work diligently. If there was any loss, he said, look at it, find and examine it and fix the problem. We can apply this and improve our spirituality too. You can do business in a spiritual way and wish the success of your customers. If you have thoughts of metta, not only will you be successful, but your customers will be too.

The Buddha’s economic theory was very simple. He did not encourage us to be selfish in business, you all do the business and you all have to have customers. Without customers, there is no business, we have to wish for their wellbeing as well.

There are many things that I believe we can do. There are many untapped areas. I would like to share two thoughts that I had this morning. As I was coming from a visit from one of our temples in Avissawella, one young man was driving me I asked him if he was with a taxi service, he said we do not have those services in the area, there is no business I only do personal business through personal contacts. However, he said even though there are many people who have smart phones in the area, they do not know how to use it. They do not have apps on their smartphones. Then I thought what we have to do is, we can have small business forums outside of Colombo city in these small towns. We have to educate those people and if we can educate those people by having small forums, they may have the opportunity.

Other business partners may also have the opportunity. We must encourage them, so that they can also learn and be a part of these businesses. This young man shared with me this thought. The other thought which I had was that business communities can use research. We have universities, and we have university students.

According to some of your needs, if you encourage them to do research with their assignments, you can benefit and the student can benefit as well. In the curriculum if we include internships, they will have a new experience and as they graduate from the university, you can benefit from the results of those researches as well. Based on real facts, you can develop the businesses. I believe this would be really beneficial to the student community as well as the business community. That perhaps it can help our country more. We know that the business community is providing an enormous strength for the country.

Your businesses and encouragement add to the economy of the nation. This is a great contribution made by many of you. I was happy to see 30 companies receiving the awards. We appreciate that kind of encouragement from the Head of BT Options for arranging this. This is very invigorative opportunity for us to see and I am very happy to be with you this evening. I wish all of you great success.

BT Options as well as all the business community members who are here, I wish you great success in this new year in your business world. May you have great opportunities so that you can provide more strength to the country as well as to the communities as in general. Wishing great success and blessings of the triple gem, I remain here. Thank you very much. Theruwan Saranai.

Professor G L Peiris, Chairman, Sri Lanka Podujana Peramuna

Prof G L Peiris has been supportive of Business Today from its inception in 1997. Prof G L Peiris was in fact the first interview on feature on the Business Today soft launch first issue of October 1996. We are proud that Prof GL Peiris was the Chief Guest at the first ever Business Today TOP 10 Award Ceremony in 1997. Even during the height of war, at great personal risk Prof G L Peiris attended the function. On the following year, one of the CEOs of a corporate gave negative feedback on the event, and in that instance when giving his speech Prof G L Peiris said that the Business Today Top corporate awards should be encouraged. To this date we appreciate the support given by Prof G L Peiris and we are sure you too must be proud to see the manner in which the event has evolved to what it is today.

Prof G L Peiris is a gentleman politician, always clear and precise in his approach. He is one of the most knowledgeable politicians in the country. He is a Doctor of Philosophy, a Rhodes Scholar and Quondam All Souls Visiting Fellow of the University of Oxford; Former Smuts Visiting Fellow in Commonwealth Studies in the University of Cambridge and Distinguished Visiting Fellow of Christ’s College, Cambridge. Prof G L Peiris was a one time, Butterworths Visiting Fellow at the Institute of Advanced Legal Studies of the University of London, and former Dean of the Faculty of Law, Vice Chancellor and Emeritus Professor of Law of the University of Colombo.

Prof G L Peiris has held numerous ministerial posts over the years including Minister of Foreign Affairs; Minister of Justice, Constitutional Affairs and National Integration, Minister of External Trade; Minister of Investment Promotion and Industrial Policy and Deputy Minister of Finance and Planning, Prof G L Peiris is presently the Chairman of the Sri Lanka Podujana Peramuna.

Prof G L Pieris has always stood by Hon Mahinda Rajapaksa during both good and challenging times. He has always worked towards the betterment of the country.

KEYNOTE ADDRESS BY PROF G L PEIRIS

Venerable Members of the Maha Sanga, Members of the Cabinet, Your excellences, Mr Basil Rajapaksa, representatives of the media, leaders of industry, ladies and gentlemen.

I think this event is a singular tribute to Business Today Mr Mathi Parthipan and his dedicated team. Many of us have good ideas. We can start things, but to sustain the efforts of the years, is a much more challenging enterprise. This event started as long ago as 1997, 23 years ago and Mathi Parthipan and his team have been able to sustain this for the entire period of 23 years without a single interruption. This included a ferocious war and all the turbulent conditions that came in the wake of that war. But not even under those conditions, did they allow this event to be interrupted. Not only was this maintained, but it was expanded and strengthened. In 1997, I recall that it was Top 10, today it is Top 30 and it caters for a whole range, a diversity of business enterprises and this requires determination, perseverance and grit. Those are the qualities that we honor and we celebrate on this occasion.

Reference was made earlier this evening to the Sri Lanka Podujana Peramuna, and its architect Mr Basil Rajapaksa who is here today. I would say that one of the hallmarks of the Sri Lanka Podujana Peramuna is respect for the views of others, the need for consultation, for dialogue before making decisions. I do not think any political party went to the lengths we did in consulting every conceivable segment of public opinion before formulating its constitution. It was a meticulous exercise and all the insights that were garnered in that elaborate process found expression, in the provisions of the constitution of the SLPP.

Today we are engaged in interacting with the business community and it is a deep conviction that the relationship between the Government and industry should be a symbiotic, and a mutually supportive relationship. We would like to talk to you, find out what your ideas are about the challenges that the economy of Sri Lanka faces at the present and it is only nourished and reinforced by those insights that we would set about a task of formulating and implementing an economic policy in the interest of this country.

If we are to succeed, in our ambitious goals, I think it is important for Government and the business sector to understand each other. Government has its role; it must try not to undertake the responsibilities of the entrepreneurial community. At the same time, the business community expects the Government to perform certain vital functions. I think this evening it would serve us well to reflect briefly on the kinds of contributions the State, the

Government should make in order to give the business community the environment, which is conducive to optimal performance. First and foremost, I think all the awardees who received the awards from the hands of Prime Minister Mahinda Rajapaksa will agree that probably the most important requirement for business to perform is political stability. Sri Lanka has many natural advantages, not the least of it is what we occupy, sensitive geographical space in the Indian Ocean, but whatever advantages we have, if we do not have political stability, I do not think that the business community can perform its functions adequately. I am personally aware that during the last few years, even before the Hon Mahinda Rajapaksa became the Leader of the Opposition, there were major investors, who came to him and said we are looking seriously at Sri Lanka but we are keeping these projects on hold until there is political stability in the country. So that is what we have today and that is the launching pad for business community and the Government can do together. There are also many investors who have said, “We like to come in but one of the impediments we have is the uncertainty and unpredictability of monetary and fiscal policy in this country, particularly taxation and decisions with regards to taxation were constantly changed. Every three months, there was a new approach to taxation and this of course was significant disincentive. When an investor comes into the country, he wants to plan for the future. He wants to know how long it would take for him to recover his investment and to make a reasonable profit. So if all decisions with regard to taxation are made ad hoc then there is significant element of unpredictability, which will certainly discourage major investment into this country. So one of the most important things that the state has to in order to stimulate and encourage investment into this country is to achieve clarity and precision with regard to taxation policy.

The other important thing the Government of the day needs to do for business is to address the whole issue of human resources. If you ask me what is the most important single strength of Sri Lanka, I would answer without hesitation that it consists of the unique caliber of the island’s human resources. But today we have a major problem, that the people who are educated, naturally entertain high levels of expectation and if they find that the social order does not deliver, even at a basic level, and not withstanding their academic qualifications, if they fail to obtain employment, which assures them of a decent standard of living and the ability to live with dignity in their native land. Then the inevitable result is social disquiet and frustration of a high order. This is a country which has paid an exorbitant price for two youth insurrections during the last few decades. My predecessor in the office of Vice Chancellor of the University of Colombo, the late Prof Stanley Wijesundera, a very distinguished professor of biochemistry was shot dead in his own office. We had therefore to make certain that people who are educated and who have turned out by the system have a legitimate expectation of obtaining gainful employment in this country. The Government of His excellency Gotabaya Rajapaksa has placed particular emphasis on this to strengthen the linkages and synergies between education and employment and to make certain kind of education that we impart has a direct relationship to the requirements and the priorities of the market place. I think it is worth mentioning on this occasion, that the Information Technology industry in this country at the moment is worth approximately one billion US dollars but it can be easily elevated to the level of three billion US dollars, so this is one of the main things the Government has to do to ensure that the developments of the human resources is in consonance with the needs of the private sector and the economy as a whole.

One other point that is worth making is if one wants serious investment in this country, if he wants the business community to prosper at to make its contribution to the national economy, then we have to pay some attention to the judicial system. I think all you in business here in this hall will agree with me that conventional litigation before the established courts of the country is not really the most effective way resolving commercial disputes. This is because of delay, expense and technicality, we are therefore to look at other informal methods of dispute resolution such as arbitration, conciliation, and mediation. I have no doubt that if these fields are adequately developed, that will administer a very powerful impetus to the development of business and industry in this country.

If we look at the major personalities at the helm of affairs in this country today, I would suggest, there is every reason for optimism with regard to the future. His Excellency Gotabaya Rajapaksa is seen by the country as a visionary, with a very clear conception of the country’s future and trajectory of development. Hon Mahinda Rajapaksa, Prime Minister has a unique rapport with the people of our country. The esteem and the affection in which he is held, the warm up and spontaneity of that is not confined to the shores of this island but just two weeks ago we saw the manifestation of this feeling in several Indian cities, in Delhi, in Varanasi, in Sarnath and in Thirupathi, and this is something that no political leader in our country has experienced up to now. These strengths are complemented by the computer-like mind and the unique managerial skills of Mr Basil Rajapaksa who founded the party that we spoke of earlier today, Sri Lanka Podujana Peramuna, nurtured the party in its infancy and ensured that the party captured as many 71 percent of the wards in all the local authorities throughout the length and breadth of this island within the uniquely short period of 16 months from the inception of this party. This is an accomplishment without parallel in the annals of the history. So these are among the attributes that justify confidence on our part with regard to the future of this land.

With regard to Business Today and Mr Mathi Parthipan and his team, our wish for them is more strength to your elbow. May good fortune smile upon you as you continue your efforts into a challenging future. I have no doubt that it is the fevered wish of all 650 of us gathered in this hall tonight that we would want to convey to him and his colleagues our warm felicitations as he strives to raise the level of the business culture of this country to a new and inspiring threshold and to serve the cause of entrepreneurship in this land in an exemplary manner. Thank You, Good Night.

Business Today Top 30 2018 – 2019

Speeches by the first ten corporates and the new entrants
to the Business Today TOP 30 ranking

Jonathan Alles, Managing Director Hatton National Bank

Venerable Theros, Hon Prime Minister, Hon Ministers and Members of Parliament, distinguished ladies and gentlemen, HNB is delighted, yet deeply humbled to have topped the Business Today rankings, and I wish to thank Mathi and Glenda and this year’s panel of judges for presenting us with such a highly respected accolade, continuing to honor the spirit of business excellence in the corporate world.

Having being recognized as the number one corporate entity in the first BT rankings in 1997, we are very happy to reach the top once again 23 years later.

HNB is an organization with a tremendous legacy. For over 130 years, we have supported Sri Lankans from all walks of life to pursue their dreams and aspirations and to achieve their fullest potential. From its inception, HNB has played a key role in the Sri Lankan economy, working in partnership with businesses at every level of the society; spanning from micro entrepreneurs to SMEs and large-scale corporates, making impactful contributions towards development goals of our country.

In 2018, having realized the changing client needs, technological advancements and the need to be future ready, we launched a very ambitious transformational journey. Today, having reached mid point, we continue to challenge the status quo and raise the bar, enroute to being the most future ready organization in Sri Lanka.

Our success today, would not have been possible if not for the unceasing efforts of our entire HNB team, and the invaluable leadership and guidance of our Chairman, Board of Directors, the Corporate Management team and the entire HNB family. I wish to extend my heartfelt gratitude for their efforts, and their belief in our common vision for HNB, and for all Sri Lankans.

My sincere gratitude to all the shareholders of HNB and the banking industry as a whole, both locally and overseas, our other stakeholders, especially our customers, for remaining g loyal to us in these difficult times when the banking industry is challenged with higher Basel capital requirements, IFRS impairments, taxation, policy inconsistency, all these, in an economy going through a prolonged spell of low growth, limited opportunities, saddled with debt collection issues, high default rates, extremely slow and unproductive recovery processes, and also moratoriums resulting from inclement weather and other unforeseen events such as the Easter Sunday attacks that we witnessed last year.

So, a very big thank you to our dear shareholders, stake holders and especially our customers, for their patience and understanding.

On behalf of HNB, I would also like to congratulate all our colleagues and peers in the banking and corporate world, who are here today, for the great leadership and the contributions made to the sustainable development of Sri Lanka as respon- sible corporate citizens. We continue to remain in awe of your achievements and silently keep applauding you to greater heights.

I want to take this opportunity to reassure you of HNB’s commitment to be your ‘partner in progress’ as you continue on your trailblazing journeys and set new benchmarks and keep raising the bar for all of us to be inspired and then aspire.

Ladies and Gentlemen, Sri Lanka is again at cross-roads, and we can no longer afford to waver in our mission to achieve our nation’s fullest potential. It is our greatest hope and belief that His Excellency the President, Hon Prime Minister and their teams would deliver the change that our country needs; ensure policy consistency, provide impetus to the growth sectors of our economy and strengthen governance. The journey ahead will be difficult, but together I have every confidence that each of us can serve as partners in the development journey of our nation. As always we remain totally committed.

Thank you Mathi and Glenda and your BT Team once again for putting together such an important event and a great show for all of us. You’ve given us even more motivation, to set new benchmarks in the years ahead.

I wish all of you a very good evening, and a great year ahead. May God bless you All!

Dharma Dheerasinghe, Chairman Commercial Bank of Ceylon

Venerable Maha Sanga, members of reverend clergy, Honorable Prime Minister Mahinda Rajapaksa, Members of Parliament and distinguished guests, I am extremely privileged to accept this award on behalf of Commercial Bank for being ranked second in Business Today’s “TOP 30’ public listed corporates in Sri Lanka.

Being the largest private bank and the most profitable private Bank in Sri Lanka, we are proud of our contribution in shaping the economy of Sri Lanka and assisting many Sri Lankans to realize their dreams, 2020 is a monumental year for the bank since it completes 100 years of operations in Sri Lanka. Commercial Bank’s roots run back to 1920, when its forerunner Eastern Bank commenced operations in the country. Commercial Bank takes pride in its dedication to maintain good governance, transparency and ethical and sustainable business practices, which are of paramount importance for a financial institution. The Bank has the privilege of serving customers of all walks of life and businesses ranging from start up micro finance businesses and SME businesses upto blue chip corporates in the country. In keeping with the vision of the bank, we are also humbled to be a pioneer in the digital banking revolution by introducing technology that matters to our customers.

We at Commercial Bank are focused on long-term strategies that create value for the organization and its stakeholders rather than seeking short-term volume growths. We believe that this approach has made us resilient and robust, and has brought us a plethora of international and local awards, making us the Most Awarded Bank in Sri Lanka.

The success of the bank is due to the passion, commitment and hard work of employees at all levels. I wish to take this opportunity to thank all present and past employees for their hard work. I also wish to thank our customers, shareholders and all other stakeholders for their loyalty and unwavering trust placed on us. I also wish to thank Mathi and Glenda Parthipan of Business Today for organizing this award ceremony.

Kapila Jayawardena, Group Managing Director/CEO LOLC Holdings

Venerable members of the clergy, Honorable Prime Minister Mahinda Rajapaksha and leaders of the business community.

It is with great pride and happiness that we at LOLC Holdings accept this award. For many years we have been within Sri Lanka’s top corporates. The agility of the decision making process, a committed team and the deep understanding of the micro and SME business coupled with world class operations and systems have worked wonders for the group. Our successful and timely move to international markets has made us the global leader in micro lending.

I dedicate this award to the staff who gave their best and over two million customers globally for their patronage. Thank you.

Krishan Balendra, Chairman/CEO John Keells Holdings

We are honored to be recognized among Business Today’s TOP 30 corporates. As we celebrate 150 years this year, we will continue to be among the leaders that shape and empower the nation for a sustainable future. This recognition would not have been possible if not for the contribution of our valuable stakeholders and we thank them for their continued support. I would also like to thank the entire team of the John Keells Group for their dedication and commitment. Congratulations to all the corporate entities that have been recognized today and we thank Business Today for acknowledging and recognizing the contribution of private sec- tor entities towards the development of Sri Lanka.

Nanda Fernando, Managing Director Sampath Bank

It is such a pleasure to be addressing you consisting of highly successful achievers. This event is a long await- ed and eagerly anticipated one for committed professionals who know the importance of the awards being handed out. The Business Today TOP 30’ awards have long been recognized as one of the most prestigious and illustrious among the Sri Lankan Corporate Sector. To be included in these awards is a high-ranking honor for Sampath Bank. We humbly thank you for this distinction.

We understand that an extremely stringent selection process is employed to evaluate excellence in corporate performance making this acclaimed honor even more valuable.

This year we are delighted to have secured the high distinction of Fifth Rank of Sri Lanka’s best performing companies at the Business Today TOP 30 awards. This reflects the steady progress and capitalization on opportunities, along with hard work and team effort that the bank has tirelessly aspired to. Much strategy focused planning has taken place in the recent past with intense focus on business, technology and people, what we refer to as the Triple Transformation for 2020.

With an eye on the future, following the successful completion of our rights issue, the bank intends to build on it’s remarkable recent performance; always keeping the shareholders, the employees and above all the customers in mind. It is this firm commitment that has brought us this unique honor.

We are happy to be among such an illustrious audience and congratulate all the other very worthy winners. Our recognition is shared with all our respected stakeholders.

May I take this opportunity to sincerely congratulate Business Today for their commitment to host such an eminent event on an ongoing basis.

R Renganathan, Deputy Chairman Ceylinco Insurance

Honorable Prime Minister, Guest of Honour, Fellow Award recipients, and friends.

It is no secret that Ceylinco Insurance has overcome many challenges in its relatively short existence of 32 years. Some of these challenges could have derailed even larger companies and yet we did not just survive them, we thrived.

Today we are proud to be ranked sixth in Business Today’s TOP 30, which includes diversified conglomerates that have been in business for very much longer than we have. Our journey up the rankings of this prestigious list of companies is also remarkable. In 2013/14, we were ranked 25th and have moved up 19 spots in just six years.

Ceylinco Insurance was not a legacy left behind for us, but a legacy that we leave behind for future generations. Many members of the Senior Management, including my colleague Ajith were among the founding staff. We have been involved from day one in building this company. Our emphasis on professionalism, ethics, governance, good citizen- ship and adherence to best practices, has earned us the enduring trust of our customers who represent every walk of life in Sri Lanka.

It has been 32 years, but the passion is as strong as ever, and we remain steadfast to the core values and fundamentals of our business. Short-term strategies to generate growth, or a spike in profits, are not for us.

Thank you ‘Business Today’ for persisting with the publication of this ranking and organizing this annual event to recognize corporate performance. To our peers in the business community, “well done”! We are proud to be ranked alongside you. As we prepare for the challenges ahead, we will continue to be committed to the guiding principles that have brought us success. Thank you and I wish you all a very pleasant evening.

Amitha Gooneratne, Managing Director Melstacorp

Veerable Clergy, Honorable Mahinda Rajapaksa, Prime Minister of Sri Lanka, Mr Mathi Parthipan, Chairman and Managing Director, BT Options, ladies and gentleman.

It is a great honor for me to receive this award on behalf of Melstacorp and I wish to thank our Chairman Deshamane Harry Jayawardena for giving me this privilege.

Melstacorp is a diversified investment company having significant investments in several public listed companies and in several other companies which have not been listed as yet.

As the results of Melstacorp also incorporates the results of other subsidiaries some of which are public listed they are not eligible to be considered in the TOP 30 rankings not-with-standing the excellent performance of these companies. Therefore, I need to acknowledge the significant contribution made by two public listed companies which are subsidiaries of Melstacorp namely DCSL and Aitken Spence which have hither-to be always listed in the top 30 rankings of BT Options.

Melstacorp’s diversity has enabled the company to with- stand many challenges during the last financial year 2018 as the results of the stronger companies compensated for the adverse performance of certain companies who were operating under difficult circumstances.

Going forward we are confident that with political stability being re-established and business confidence increasing the environment will be conducive for a rapid growth in most sectors.

I take this opportunity to thank BT Options for hosting this ceremony for several decades, which has become the most coveted business recognition in Sri Lanka.

Supun Weerasinghe, Group CEO Dialog Axiata

Garuthara Sangarathnayen Awasarai, Hon Mahinda Rajapaksa MP, Prime Minister of Sri Lanka, Honorable Ministers, Glenda and Mathi Parthipan, corporate leaders, distinguished invitees, ladies and gentlemen.

It is indeed a great honour and privilege to accept this award on behalf of the Dialog family and to be named amongst the TOP 30 corporates in Sri Lanka. Accepting such an award is truly a humbling experience for any corporate and more so for a connectivity provider serving over 15 million Sri Lankans.

Let me take a moment to recognize and thank those stakeholders, who have helped us and guided us to achieve this recognition. To Sri Lankan consumers and enterprises for your loyalty and patronage over the last 25 years, we appreciate and are thankful to all of you for placing your trust and confidence in us to deliver the future, today.

To our shareholders, Axiata Group and all other shareholders, for believing in us, guiding us and continuing to invest in our beautiful country. As the largest FDI, thank you for enabling us to deliver our vision to empower and enrich Sri Lankan lives and enterprises.

To the Government of Sri Lanka and its agencies for their progressive development policies and regulations over the last 25 years.

To our team, the Api Dialog family for your passion and commitment to deliver ‘Service from the Heart’ to every Sri Lankan across the country at all times.

To our extended family of partners and service providers who helped carry Dialog to all corners of Sri Lanka and for consistently maintaining the trust that Sri Lankans have placed in us.

Last but not least, let me congratulate all my colleagues from corporate Sri Lanka for being named amongst the best of the best. Let’s commit to making Sri Lanka the first developed nation in South Asia within this decade.

Let us all work together to help accelerate our country’s development journey using the very best of technology and our very own talent. Thank you.

Dimantha Seneviratne, Group CEO National Development Bank

Venerable members of the Clergy, Honorable Prime Minister Mahinda Rajapaksa, distinguished invitees, Mathi and BT Team, ladies and gentlemen!

I am indeed honored to accept this award as an acknowledgment of all the hard work we at NDB Bank had put in over the years. Though it is not NDB’s first foray into Business Today’s TOP 10, this year is of special significance, as we celebrate 40 years of service and have become the fourth largest private bank in the country.

We are pleased to note NDB’s steady rise in the ranks from number 27 in 2017 to number 18 in 2018 and now to number nine, which reflects the dedication and commitment the bank has towards the development of the nation.

NDB started off as a development bank 40 years ago, and provided yeoman service in the development of this country as a project finance specialist. With the country moving to middle income category and drying up of funding lines, the bank has, since 2005, successfully transformed into a full service commercial bank and a financial services conglomerate carrying forward its development heritage; helping individuals, small and medium enterprises and corporates alike to realize their fullest potential. NDB Bank today has total assets of over 530 billion, Assets under Management (AuM) of over 100 billion in wealth management and its Investment banking arm, a leading capital markets player. The bank counts over 350 customer touch points through its branches, ATM’s, CRM’s and branchless banking.

As we move into the new decade, we believe that digital convenience is the way forward. Digitalization of our customer touch points, such as; our NEOS App and phygital branches has made rapid progress and we have also made process improvements by systematically deploying robotics and workflow systems. This will improve efficiencies and the agility to lead the transformation that digitization will bring, not only in the banking industry but the country as a whole. The credit of this esteemed achievement should go to my leadership team for leading the transformation of the bank and the staff, for their unstinted loyalty and hard work; my Board of Directors, for their guidance, wisdom and strategic directions.

I would like to take this opportunity to thank our esteemed customers, without whom this would not have been possible. I would also like to extend my warmest gratitude to our share- holders and other stakeholders. Thank you once again for this Prestigious Award.

Fabrice Cavallin, Managing Director Nestlé Lanka

Honorable Prime Minister and distinguished guests, As one of Sri Lanka’s oldest multinationals, Nestlé celebrates 114 years in the island this year. We are honored to be recognized as one of Sri Lanka’s top 10 corporates by Business Today.

We like to think of ourselves as Sri Lanka’s local multi- national. Our company is made up of passionate Sri Lankans who love their country. They take pride in being able to make a positive impact on their communities through their work. The love our people show for their country, through our company, is reflected in our new campaign – My Nestlé, My Sri Lanka.

Take our products for instance. They nourish Sri Lankans right from birth to old age. Approximately 90 percent of the products we sell are made locally. They are made by Sri Lankans for Sri Lankans, with recipes carefully tailored to make sure our products are not just tastier but also healthier. Sri Lankan consumers receive close to one billion micronutrient enriched servings through Nestlé every year. All the people involved in developing, making and selling our products can say with pride, ‘I am Nourishing My Sri Lanka.”

Every day, our people are helping to uplift Sri Lankan communities. Through our business, we support the livelihoods of almost 30,000 Sri Lankan families – from farmers and suppliers, to distributors and employees. By sharing our expertise, and providing training, employment and business opportunities, our people can proudly say ‘I am Developing I am Developing My Sri Lanka.” Last but not least, our people are supporting a cleaner, greener Sri Lanka in everything they do. We are reducing, reusing and recycling, and are inspiring our stakeholders to do the same.

Today, more than 80 percent of our packaging is recyclable or reusable. It will reach 100 percent by 2025. I’m also proud to say that our factory in Kurunegala is a ‘zero waste for disposal’ facility. This means nothing goes to landfill, or is incinerated without recovering energy.

How are we helping our consumers go green? We will no longer offer plastic items in our promotions from June this year. This will help reduce around 250 metric tonnes of plastic

in 2020. We are also working together with our Tetra Pak supplier and other stakeholders to launch Sri Lanka’s first UHT milk carton recycling facility mid this year.

We know that we’re all in this together, and this is how we do our part. Our people are proud to say ‘I am Making My Sri Lanka More Sustainable.”

As a company, Sri Lanka is part of our family too. Our people are here, and will continue to ensure everything we do as a company is good for the country, for the people, and for the environment. We will continue to strive to do well by doing good. And we will continue to do it passionately. Thank you

Dilhan C Fernando, Director Dilmah Ceylon Tea Company

Dilmah tea is founded on a commitment to quality and integrity, expressed today in the emphasis that we place on my father – our founder’s – vision for taste, natural goodness and ethical purpose. The achievements that Dilmah is being felicitated for today are made possible by the Grace of God and the quality of Ceylon Tea. Those blessings are acknowledged in the enduring connection that our brand maintains with both environment and community in Sri Lanka My father’s philosophy of making business a matter of

human service through the work of the Merrill J Fernando Charitable Foundation has yielded nearly five billion rupees for the care and dignified empowerment of children with different ability, youth, women and men in marginalised communities. With appreciation to Mathi, Glenda and the Business Today team for this accolade, we reaffirm our commitment to delivering positive and effective humanitarian and environmental interventions whilst we offer the world tea that is rich in taste and natural goodness.

Mahesh Nanayakkara, Managing Director/CEO Citizens Development Business Finance

Hon Prime Minister Mahinda Rajapaksa, Hon Ministers and Members of Parliament, Chairman of Business Today Mathi Parthipan and Mrs Glenda Parthipan, ladies and gentlemen.

CDB is humbled by the honor that has been bestowed on us by Business Today – to be among the Business Today TOP 30 for the very first time in our 25 year history. While we are very proud of this laurel on our 25th anniversary, our journey has been one where we have navigated waters that were both stormy and calm. Thank you Business Today for giving us this honor.

In our first few years, our waters were truly stormy, which resulted in CDB inheriting a very grave balance sheet about 18 years ago showing our losses being more than our revenue with a negative net asset status.

Since then a group of young, committed and passionate individuals took ownership to rebuild CDB brick by brick, believing in themselves and their organization. We began making progress betting our strategy to work, through this young team, who hailed from humble backgrounds and rural landscapes including state university graduates. These were the ordinary people who produced extraordinary results that enabled me to stand here at this podium among leading Corporates in our country.

It was in the last decade however, that the real growth of our journey commenced. The war had held this country back for three decade. Had the war not ended our future would have been bleak.

Harnessing the full potential of the wide opportunities in post-war Sri Lanka – CDB envisioned, planned and executed. We saw potential where there was uncertainty,

and opportunity where there were challenges. This resulted in our balance sheet growing 15 times from just six billion rupees to 90 billion rupees during the last decade.

The great historian Arnoid Toynbee, having written over 140 articles and books over four decades on the evolution of human civilization, stated that the entire history of mankind can be written in just two words – Challenge, Response.

From SARS to MERS to COVID 19, we really don’t know what challenges lie in store but we surely know there will always be a response. While our nation may face many a challenge, what is more important is our response to these challenges.

I firmly believe our corporate community has the courage and confidence to respond to these challenges and to usher a decent and dignified standard of living for all our citizens as we move forward. Thank you very much.

Nimal Tillekeratne, CEO Pan Asia Banking Corporation

Dear Members, when the news reached me that Pan Asia Bank is included in the TOP 30 private companies, I was indeed pleasantly surprised as it was the first time Pan Asia in its 25 years of history was grouped together with the stars of Sri Lankan companies.

2018 was indeed a bad year for lot of companies and 2019 was even worse. So I wondered what we did in 2018/2019 to shine among the most brilliant companies in the country. Coming to think of it now, I realize it was the foresight of our management that kept us away from the ‘gold rush’ when the wind was blowing against the industry in general.

To start with, we brought in disruptive changes into our operating model in mid 2018. We slowed down our growth, purged some high risk assets and quietly moved away from high cost deposits. The book size remained unchanged or even recorded negative growth in most of 2018 and early 2019, but this gave us space to consolidate the lending book and maintain good capital ratio while improving the Net Interest Margin. This helped us to record unprecedented profitability in the third and fourth quarters of 2019 under- pining the justification of our inclusion in TOP 30.

While congratulating all our colleagues in the TOP 30 companies and the Team BT, I must state that this recognition is even more important to us as the bank is preparing to celebrate its 25th Anniversary in business in 2020, while positioning ourselves as a ‘Truly Sri Lankan Bank’. Finally, with the new political leadership we have high confidence that the business will get back to its former glory and contribute to the economic and social betterment of all Sri Lankans.

Business Today TOP 30
2018-2019

01. Hatton National Bank

Prime Minister Mahinda Rajapaska presenting the award to Dinesh Weerakkody, Chairman and Jonathan Alles, Managing Director.

02. Commercial Bank of Ceylon

Dharma Dheerasinghe, Chairman and S Renganathan, Managing Director accepting the award.

03. LOLC Holdings

Kapila Jayawardena, Group Managing Director/CEO accepting the award.

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04. John Keells Holdings

Krishan Balendra, Chairman/CEO accepting the award.

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05. Sampath Bank

Nanda Fernando, Managing Director accepting the award.

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06. Ceylinco Insurance

Ajith Gunwardena, Executive Chairman/CEO and R Renganathan, Deputy Chairman accepting the award.

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07. Melstacorp

Amitha Gooneratne, Managing Director accepting the award.

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08. Dialog Axiata

Supun Weerasinghe, Group CEO accepting the award.

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09. National Development Bank

Dimantha Seneviratne, Group CEO accepting the award.

10. Nestlé Lanka

Fabrice Cavallin, Managing Director accepting the award.

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11. Central Finance Company

  1. Arjuna Gunaratne, Executive Director accepting the award.

12. Vallibel One

Yogadinusha Baskaran, CEO accepting the award.

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13. People’s Leasing and Finance

Sabry Ibrahim, CEO/General Manager accepting the award.

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14. Nations Trust Bank

Renuka Fernando, CEO accepting the award.

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15. Sri Lanka Telecom

Kiththi Perera, CEO accepting the award.

16. Hemas Holdings

Dr Lakith Peiris, Managing Director, Hemas Hospitals accepting the award.

17. Seylan Bank

Kapila Ariyaratne, CEO accepting the award.

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18. DFCC Bank

Lakshman Silva, CEO accepting the award.

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19. CT Holdings

Sanjaya Niles, Executive Director accepting the award.

20. Softlogic Holdings

Roshan Rassool, Executive Director accepting the award.

21. Commercial Credit and Finance

Cecil Perera, Chairman accepting the award.

22. Hayleys

Lasantha Somaratne accepting the award.

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23. Richard Pieris and Company

Shaminda Yaddehige, Director accepting the award.

24. Chevron Lubricants Lanka

Patrick McCloud, Managing Director/CEO accepting the award.

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25. Teejay Lanka

Pubudu De Silva, CEO and Sanjaya Basnayake accepting the award.

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26. Access Engineering

Sumal Perera, Chairman accepting the award.

27. Dilmah Ceylon Tea Company

Dilhan C Fernando, Director accepting the award.

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28. Citizens Development Bank

Mahesh Nanayakkara, Managing Director/CEO and Damith Tennekoon, Deputy CEO accepting the award.

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29. Expolanka Holdings

Jagath Pathirana accepting the award.

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30. Pan Asia Banking Corporation

Nimal Tillekeratne, CEO and Naleen Edirisinghe accepting the award.

Business Today
TOP 30 2018-2019 Gallery

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Arrival of Prime Minister Mahinda Rajapaksa accompanied by Mathi and Glenda Parthipan. Prof G L Peiris is also in the photograph.

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Prime Minister Mahinda Rajapaksa being welcomed by Mathi and Glenda Parthipan

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Prime Minister Mahinda Rajapaksa with Glenda and Mathi K Parthipan

Mahinda Rajapaksa, Prime Minister of Sri Lanka was the Chief Guest on the occasion. We are able to live in a peaceful and stable country because of his strength and direction. The enabling environment provided opportunities for all to prosper.

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(L–R): Ven Elle Gunawansa Thero, Ven Diyapattugama Revatha Thero, Ven Heenbunne Kondanna Thero, Ven Kirinde Assaji Thero, Most Ven Siri Samanthabhadra Maha Thero, Ven Dhammanaatha Thero

business-today-awards-sri-lanka

Dr Seetha Arambepola, Governor, Western Province; Ajith Nivard Cabraal, Senior Advisor on Economic Affairs to the Prime Minister; Prof G L Peiris, Chairman, Sri Lanka Podujana Peramuna and Advisor to the Prime Minister; Mahinda Rajapaksa, Prime Minister of Sri Lanka; Mathi K Parthipan, Chairman and Managing Director, BT Options, Basil Rajapaksa, Shehan Semasinghe, State Minister of Development Bank and Loan Schemes and Glenda Parthipan.

Glenda and Mathi K Parthipan, Chairman/Managing Director, BT Options.

Basil Rajapaksa with Glenda and Mathi K Parthipan.

Prof G L Peiris delivering the keynote address.

Members of Parliament, Sujeewa Senasinghe, Ravi Karunanayake and John Amaratunga.

P Dayaratne, MP, Deepthika Dayaratne, and Admiral Wasantha Karannagoda

Business Today TOP 30, 2018-2019: (L–R): Patrick McCloud, MD/CEO, Chevron Lubricants Lanka; Lasantha Somaratne, Hayleys, Dr Lakith Peiris, MD, Hemas Hospitals; Shaminda Yaddehige, Director, Richard Pieris and Company; Dilhan C Fernando, Director, Dilmah Ceylon Tea Company; Naleen Edirisinghe, Pan Asia Banking Corporation; Cecil Perera, Chairman, Commercial Credit and Finance; Kiththi Perera, CEO, Sri Lanka Telecom; Supun Weerasinghe, Group CEO, Dialog Axiata; R Renganathan, Deputy Chairman and Ajith Gunawardena, Executive Chairman/CEO, Ceylinco Insurance; Jagath Pathirana, Expolanka Holdings; Kapila Jayawardena, Group MD/CEO, LOLC; Dinesh Weerakkody, Chairman, Hatton National Bank, Hon Mahinda Rajapaksa, Prime Minister of Sri Lanka; Mr Jonathan Alles, Managing Director, Hatton National Bank; Dharma Dheerasinghe, Chairman, Commercial Bank of Ceylon; Lakshman Silva, CEO, DFCC Bank; Roshan Rassool, Executive Director Holdings; Dimantha Seneviratne, Group CEO, National Development Bank; Sanjaya Niles, Executive Director, CT Holdings, Yogadinusha Baskaran, CEO, Vallibel One; Sumal Perera, Chairman, Access Engineering; Nanda Fernando, Managing Director, Sampath Bank; Krishan Balendra, Chairman/CEO, John Keells Holdings; Renuka Fernando, CEO, Nations Trust Bank; Sabry Ibrahim, CEO/GM, People’s Leasing and Finance; Pubudu De Silva, CEO and Sanjaya Basnayake, Teejay Lanka; Fabrice Cavallin, Managing Director, Nestlé Lanka; Kapila Ariyaratne, CEO, Seylan Bank; S Renganathan, Managing Director, Commercial Bank of Ceylon; Mahesh Nanayakkara, Managing Director/CEO and Damith Tennekoon, Deputy CEO, Citizens Development Business Finance; and Arjuna Gunaratne, Executive Director, Central Finance Company.

Blessing dance to songs sung by veteran artiste Mohideen Baig and Ishak Baig.

Dance performance to ‘Meth Mal Pibidewa’.