mCash wins Gold

mCash wins Gold

for ‘Online Brand of the Year’ at SLIM Brand Excellence Awards 2019

Reiterating its dominance in the digital payment industry, mCash, Mobitel’s mobile money platform, received a Gold award as “Online Brand of the year” at the recently concluded SLIM Brand Excellence Awards 2019.

SLIM Brand Excellence hails brand champions for their exceptional achievements in innovating brands, which strive to deliver superior convenience through their outstanding marketing efforts.

mCash is the industry leader in providing online digital services to impart greater convenience for its customers, while transforming the way financial transactions are conducted. As a result of the platforms’ sheer convenience and consistency, mCash has become one of the most popular mobile financial services platforms in the country.

Celebrating its 6th anniversary last month, mCash has received notable accolades during the year for its innovation and convenience, being anointed with the Silver Award for “Most Popular Electronic Payment Product” in the FinTech category, at the LankaPay Technnovation Awards 2019, Sri Lanka’s first and the only annual payment technology innovation awards ceremony.

As Sri Lanka’s Biggest Financial Services Retail Network, mCash is forging partnerships with strategic partners, to widen its reach in transforming the way Sri Lanka conducts its financial transactions. Demonstrating the rising use of digitally-backed products and services in the financial services space, mCash was a pioneer in launching Digital Loans in partnership with LOLC Finance via the mCash platform, the one and only innovative digital financing product in the market where customers can simply apply for a loan through their mobile phones. mCash Digital Loans has already garnered attention from the international finance industry.
The International Business Magazine recently recognized and awarded mCash Digital Loan as the ‘Best Digital Finance Partnership Sri Lanka’ and ‘Most Innovative Digital Financing Product Sri Lanka’ for 2018.

In an eventful year, mCash forged further partnerships with leading finance and insurance companies such as Merchant Bank of Sri Lanka, HNB Finance and Sri Lanka Insurance Corporation (SLIC) to implement breakthrough innovations for payments and collections.

The revolutionary mobile money platform has also entered into a strategic partnership with Visa and Mastercard to further enhance Digital Inclusivity in Sri Lanka.
As a result of these partnerships, mCash customers can now look forward to an array of benefits such as exciting new products and services, while simultaneously expanding mCash’s influence as the most versatile and convenient money platform. mCash’s Business to Business (B2B) solutions is transforming business, particularly the mCash Robust Platform, which is empowering sectors such as Banking, Insurance, Finance and Travel to name a few.

Read more
Mobitel mCash shines  at LankaPay Technnovation  Awards 2019

Mobitel mCash shines at LankaPay Technnovation Awards 2019

Rishani Gunaratne, Manager Mobile Financial Services, Mobitel, D. Kumaratunge, Director, Payments and Settlements, Central Bank of Sri Lanka, Priyantha Liyanage – Former Chairman, LankaClear (Pvt) Ltd and Former Assistant Governor of Central Bank of Sri Lanka, Channa De Silva, General Manager/CEO, LankaClear (Pvt) Ltd, Gayan Kalugamage, Assistant Manager, Mobile Financial Services, Mobitel

Thursday, 10 October 2019, Colombo: Recognizing the excellence in the Fintech Category, mCash, the leading Mobile money platform in Sri Lanka was bestowed with the Silver Award for ‘Most Popular Electronic Payment Product’ at the LankaPay Technnovation Awards 2019, which concluded at Shangri-La Hotel, Colombo recently.

Organised by LankaClear (Pvt) Ltd for the third consecutive year, Lankapay Technnovation Awards recognizes payment technology innovators who have successfully addressed the emerging consumer trends by taking customer convenience to new heights. mCash emerged victorious among Banks, Non-Banking Financial institutions and other Fintech Service providers, due to its unique approach in bringing an array of services to increase customer convenience.

The Award reflects mCash’s leadership in the digital front. By embracing latest technologies, mCash has raised the bar for mobile money platform, thus transforming the Digital payments in Sri Lanka. With a vision to support Sri Lanka to embrace a cashless economy, mCash continues to evolve with new trends to cater to the rising demands and help transform a knowledge-driven economy into a digital-inclusive ecosystem.

Over the years, mCash has experienced immense growth with a growing business clientele and a customer base that continues to expand countrywide. In 201, mCash won the “Online Brand of the Year” (Silver) at SLIM Brands Excellence and in 2019 mCash bagged 2 international awards, “Most Innovative Digital Financing Product Sri Lanka” and “Digital Finance Partnership Sri Lanka” for 2018 from International Business Magazine.

mCash works in partnership with leading Corporates across various sectors in order to make its mobile payment platform available for enhanced convenience and speed in conducting financial transactions. mCash facilitates a wide array of financial services such as deposits, withdrawals, sending and receiving money, paying utility and institute bills, shopping, online payments, making charitable donations, digital loan, digital standing orders and robust B2B Business Solutions.

Read more
Sri Lanka promotes tourism in Montreal

Sri Lanka promotes tourism in Montreal

at the International Tourism and Travel Show

The Sri Lanka Tourism Promotion Bureau in collaboration, with the Sri Lanka High Commission in Ottawa, participated at the International Tourism and Travel Show which took place at the Place Bonaventure in Montreal from 25 to 27 October 2019. This is the fourth consecutive year Sri Lanka has participated at this show. Sri Lanka’s High Commissioner for Canada, Asoka Girihagama inaugurated the Sri Lanka Pavilion which carried Sri Lanka tourism’s new branding identity, “So Sri Lanka” along with visuals showcased tourist attractions which illustrates the rich cultural heritage, beautiful landscapes, wildlife and beaches of Sri Lanka. Assistant Director of Sri Lankan Tourism Promotion Bureau Viranga Bandara and several travel industry representatives also participated at this event.

The event attracted 36,250 prospective travellers who were planning their travel to new destinations and seeking expert advice on future holiday destinations. More than one hundred countries were represented at this event through their tourism offices, tour operators and travel agents. According to the Annual Statistical Report of Sri Lanka Tourism Development Authority, 52,681 Canadian tourists visited Sri Lanka in 2018, which is a 12% increase in the tourists’ arrivals from Canada to Sri Lanka compared to 2017. It is anticipated that Sri Lanka’s participation at this year’s show would further enhance Sri Lanka’s tourism potential in the Canadian market.

Read more
eChannelling wins  Cfi.co-UK award

eChannelling wins Cfi.co-UK award

Recognising the use of technology to facilitate a digitally-enabled health care service, eChannelling was bestowed with the coveted Cfi.co award by Capital Finance International – UK, recently.

The award, presented for “Setting the best healthcare standard as ICT service provider for Sri Lanka,” reflects eChannelling’s robust dominance in the healthcare sector, in which through technology, eChanelling has bridged the gap between hospitals, doctors and patients. This has improved the overall effectiveness and efficiency of hospitals and services and increased convenience as people don’t have to wait in long queues to get an appointment.

“We are proud and privileged to have won this award,” eChannelling Director/CEO Nalin Perera said, commenting on the recognition. “It is indeed a significant milestone for us to know that our teams’ efforts, hard work, and dedication are being recognised and appreciated on a global scale. We devised eChannelling with a vision to create a platform for every Sri Lankan to access and obtain the best health services digitally, such as to book your doctor, obtain video consultation, drug delivery and many more. With this we have transformed the healthcare service offerings in the country, by bridging the gap between service providers and the public through technology and improving effectiveness and efficiency in a user-friendly way. The sheer number of health care partners who have come onboard eChannelling’s platform reflects its success, catering to millions of Sri Lankans residing island-wide, and thousands living abroad, as well as tourists. We are proud to have digitally empowered society to take it towards our vision to build an info-com and knowledge-rich society.”

In bestowing this award, Cfi.co evaluated the role that eChannelling plays in the transformation of the health care sector in Si Lanka and the manner in which it has revolutionised the industry, noting that eChannelling’s streamlined digital platform has empowered patients to select the healthcare provider that best suits their needs via phone, web or app for added convenience. The panel of judges also took into consideration the uniqueness of eChannelling’s platform, ingenuity in pioneering digital healthcare, consistent service excellence and the value addition this has brought to people’s lives by enhancing productivity and modernising health care. Another reason for nominating eChannelling was the fact that it has developed a unique information system for a leading hospital in Sri Lanka, which is now being adopted by other healthcare institutions and govt. hospitals as well.

eChannelling’s portfolio includes a channelling system and service that has been implemented in 200-plus hospitals, private and Ayurvedic, with over 5,500 doctors, 2,000-plus channeling agents, a hospital Information system, member card, and a mobile app.

Read more
Sri Lanka Chartered Accountants ready to lead the corporate world

Sri Lanka Chartered Accountants ready to lead the corporate world

225 members conferred with FCA status at Annual Convocation

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) conferred the globally recognised Associate Chartered Accountants (ACA) designation to 269 new Chartered Accountants, empowering them to take over the reins of the corporate world.

The 269 new Chartered Accountants received their membership at the annual convocation of the Institute on 02nd October 2019. State Minister of Finance Eran Wickramaratne was the Chief Guest, while National Development Bank Group Chief Executive Officer Dimantha Seneviratne was the Guest of Honour.
At the convocation, 225 existing members of the institute were conferred with the prestigious Fellow Chartered Accountant (FCA) status, elevating them to the highest stratum in their professional careers.

Wickramaratne, in his congratulatory message said that the Institute allows many Sri Lankans to realise their professional dreams and pursue the careers of their choice. “I hope that as the new Chartered Accountants enter the workforce, armed with this qualification, you will use what you have learnt and the status that having this qualification gives you, for the benefit of the country. I hope that you will carry out your jobs with professionalism and integrity. I hope that you will see the work you do, and how you do it, as a way of investing in the future of Sri Lanka.”

CA Sri Lanka President Jagath Perera said that CA Sri Lanka Chartered Accountants are a brand of world class professionals, with the ability to steer any business successfully. “As a member of the Institute, you also enjoy global mobility across all continents, which is testament to the fact that from today onwards, you possess a global passport to success,” he said. Mr. Perera added that the Institute has been enhancing the standing of their members globally, by signing agreements with leading internationally-reputed professional bodies.

Seneviratne urged the Chartered Accountants to take on an active role in making a valuable contribution to their respective professional roles, by combining innovation in thinking and adoption of new technologies. “I also express my appreciation towards CA Sri Lanka, for the exceptional service they are rendering for the past sixty years, in creating resourceful Chartered Accountants who are shaping and defining the financial accounting discipline in Sri Lanka and across the globe.”

Member Relations Committee Chair Sanjaya Bandara highlighted the need for the Associate and Fellow members to achieve success by maintaining the integrity and ethics of the profession. “Chartered Accountants bear a great responsibility towards the profession and our nation. Therefore, I am certain that the new members who receive their membership will play an important role in helping spread the importance of our profession across Sri Lanka and the world,” he said. Bandara also urged the new fellow members to continue to play an influential role in safeguarding the Institute’s impeccable standing.

Read more
BOC among  Top 10 Most Admired

BOC among Top 10 Most Admired

Only state enterprise among best companies

Sri Lanka’s No.1 Bank, Bank of Ceylon received recognition as one of the “Top Ten Most Admired Companies in Sri Lanka” at the second convention organised by the International Chamber of Commerce Sri Lanka (ICCSL) and the Chartered Institute of Management Accountants (CIMA) to distinguish Sri Lankan companies that have excelled in their respective industries and contributed to the overall economic growth of the country. Having completed 80 years of unwavering service to the Nation, Bank of Ceylon is said to be the highest single profit-earning business entity in the country today. It is also one of the significant contributors towards the country’s economic growth, and takes great responsibility in assisting Government initiatives towards social and economic development.

The award was presented at a ceremony held recently, attended by the Prime Minister Ranil Wickramasinghe as Chief Guest, and Indian High Commissioner Taranjit Singh Sandhu as Guest of Honour, amidst Sri Lanka’s most successful listed and non-listed companies who have been nominated for this prestigious award. The Award as one of the “Top Ten Most Admired Companies in Sri Lanka” was presented to Bank of Ceylon Chair, President’s Counsel Ronald C. Perera by the Prime Minister and Indian High Commissioner. The Bank’s Chairman was accompanied by CEO/ General Manager Senarath Bandara to receive this award.

“As a state bank,” said Chair Perera, “recognition as being among the Top Ten Most Admired Companies in Sri Lanka, is the result of a collective effort made by all stakeholders who are linked with the Bank, that necessarily includes the Government of Sri Lanka and all Sri Lankans as one. We have always looked at sustainable growth as a win-win situation for all, thus the nature of our operation strives not only for business excellence but value creation for everyone who are involved. As ‘Banker’s to the Nation’ we admit that our scope is very large and diverse compared to many organisations, but we have envisioned that all our products and service lines will streamline, focusing on long-term financial soundness, encompassing quality of management, Good Governance, Human Resources, innovation and ability to attract and build relationships over time. We humbly accept this award as token of appreciation for being so, and wish to thank every stakeholder including ICCSL and CIMA institution for encouraging Good Corporate Citizenship among organisations.”

Commenting on the achievement the Bank’s CEO/General Manager Senarath Bandara said “Our score card has always exhibited unprecedented records, but we believe it is the underlying values and believes we have that built the mechanism for our work-process to flow in order to create value for all stakeholders in the long-term. Bank of Ceylon currently holds the highest asset base, which is LKR 2.2 Trillion, owned by a single Sri Lankan business entity. It also has the highest valued loans and advances portfolio which is LKR 1.5 Trillion and the highest deposit base LKR 1.8 Trillion held by a business entity in the country. The Bank’s Profit stood above every other single business organization in the country an impressive LKR 31.9 Billion for the year 2018. It was able to add value to its key stakeholder the Government of Sri Lanka as a direct contribution of LKR 24 Billion in terms of dividends and taxes. This is apart from assisting the Government of Sri Lanka with its progressive agenda towards a socially equitable and an economically developed country. The bank has a broader perspective in terms of assisting to develop entrepreneurship, employment, assisting to sustain social and economic growth and preserving the environment whilst maintaining corporate ethics. The Bank’s Good Governance policy ensures that all operations and dealings are carried out in a transparent manner. We have been recognised in numerous events for our commitment towards these values. This accolade too is very encouraging and we assure the bank will move forward committed to deliver value and being an exceptional corporate citizen”.

All organisations were shortlisted through a process that evaluated their performance that has gone beyond their profit making objective, to actually create value for the Government, other shareholders, customers, employees and a wider community in general. In such essence it was required to give evidence for the organisation’s reputational strength, its ability to inspire other organisations and entrepreneurs and maintain sustainable growth. The evaluation panel has also been keen on the organisation’s commitment towards Good Governance in areas of top management commitment to leadership succession, visionary thinking on sustainability, commitment to fulfil stakeholder interests and commitment to treat every stakeholder fairly and justifiably.

BOC had brought digital transformation to the Sri Lankan banking landscape and empowered every citizen across the country with the ability to access banking throughout the day in the most secured, convenient and the cost effective manner for the customer. It owns an inter-connected 638-branch network, international branches in London, Male, Hulu Male, Chennai and Seychelles and an over-1,100 ATM/CDM/CRM network. “BOC” has been named as the No.1 Banking Brand in the country continuously for last 11 years by the Brand Finance Lanka, to be among the “Top 1000” Banks in the world with the country rank No.1 by UK’s The Banker Magazine and was named as the “Strongest Bank” in Sri Lanka for 2018, based on the strength of its balance sheet by the Asian Banker Magazine. As for 2018, Bank of Ceylon was recognised among “Top 10 Corporate Citizens in Country” at the Corporate Citizen Sustainability Awards – 2018 by the Ceylon Chamber of Commerce. These impressive accolades and figures speak of trust and stability, that the Bank has built over years in serving the nation beyond being just a financial partner in Sri Lankan lives.

Read more
SEC, CSE and FITIS engage  tech companies on capital raising opportunities

SEC, CSE and FITIS engage tech companies on capital raising opportunities

The Colombo Stock Exchange (CSE), in association with the Securities and Exchange Commission, continued their drive to raise awareness, about accessing funding through public markets among potential issuers, by organising an exclusive forum for the membership of the Federation of Information Technology Industry Sri Lanka (FITIS) recently.
Tech companies present at the Forum were offered perspective on capital raising opportunities available through going public. The event also featured a special discussion on the Empower Board launched by the CSE. Speaking at the event, the Chairman of FITIS Abbas Kamrudeen outlined the importance of the IT industry, and all stakeholders, taking the initiative to drive digital transformation in Sri Lanka; while noting that equity-based funding will offer IT companies opportunities to pursue growth and realise value.

The CEO of CSE Rajeeva Bandaranaike highlighted the multiple entry channels available for companies to list on the stock exchange, noting that with the launch of the Empower Board, CSE now has the capacity to cater to both large and SME type equity placements. He went on to note that a listing on the CSE is a hallmark of prestige and a strong appetite for new equity listings among both local and international investors indicate strong fund-raising potential for companies.

Public

The Forum also offered insights on why a new wave of tech companies globally are accessing funding through public markets, and key learnings from recent large international tech IPOs, through a presentation by the Head of Investment Banking at CAL, Vishnu Balachandran. The presentation also featured key insights into why Sri Lankan companies should consider going public, timing an IPO and the benefits of listing on a stock exchange as opposed to accessing more traditional sources of funding. The Director of External Relations at SEC, Tushara Jayaratne joined the speakers in a panel discussion focused on the common misconceptions with relation to listing on the stock exchange, the process involved and practical implications for tech companies when accessing public funding considering the unique nature of the industry. The event also presented a platform for companies to engage and further discuss the prospect of a stock exchange listing with Empower Board Sponsors who were present. Empower Sponsors play a pivotal role guiding companies interested in listing on the Empower Board.

Capital Raising Forums conducted in collaboration with industry associations are a key part of the CSE-SEC initiative to create awareness among potential issuers, in addition to a series of regional forums conducted for SMEs based around the country. The next event in this series is set to take place in Jaffna on 24 August. Details on the eligibility of listing and the process involved could also be obtained through www.cse.lk

Read more
BOC TO GROW  100 HA FOREST

BOC TO GROW 100 HA FOREST

Bank of Ceylon signs memorandum of understanding
for “BOC Haritha Arana” a 100 ha forest in Galoya.

In order to assist in improving forest-cover in Sri Lanka by the year 2020, up to 32%, in accord with the agreement made with the United Nations to resist global climate change, the Bank of Ceylon has formulated a project to reforest a hundred hectares in the Galoya Forest Reserve, in a stretch close to the Colombo-Trincomalee main road at Habarana.

The Bank signed a memorandum of understanding (MoU) with the Mahaweli Development and Environment Ministry and the Forest Department on 5 September 2019, at the Ministry’s Sobhadam Piyasa, Battaramulla, permises. This important event took place in the presence of Mahaweli Development and Environment Ministry State Minister Ajith Mannaperruma. Bank of Ceylon Chair, President’s Counsel Ronald C. Perera, and CEO/General Manager Senarath Bandara, DGM Sales and Channel Management C.
Amarasinghe, DGM Retail Banking (Range 1 and Range 2) EM Jayaratne, represented the Bank and Secretary to the Ministry of Mahaweli Development and Environment Anura Dissanayake, and State Secretary to the Ministry of Mahaweli Development and Environment MPDUK Mapa Pathirana represented the Ministry, while Conservator General, Department of Forest Conservation WAC Weragoda represented the Department.

The Galoya Forest Reserve comprises, altogether, 14,000 hectares, of which almost 6,000 hectares has been deforested due to various reasons. The Bank of Ceylon is ensuring that this project looks comprehensively into improve this landscape and contributes to improving the environment quality of the country. It will eliminate the growth of invasive plants such as the shrub Verbena (Gandapana), Speer grass (iluk plant) and Ceylon Citronella plant (Mana plant), reduce chances of wildfire breaking out or spreading, will limit feeding cattle inside the forest reserve and will regenerate natural growth of plants that form the forest.Being a genuinely concerned partner in protecting the environment in the country, the Bank of Ceylon takes responsibility, by actively engaging in causes that delivers sustainably good results for society, its people and the environment as a whole.

Read more
HEALTHNET REVAMPS WEBSITE

HEALTHNET REVAMPS WEBSITE

HealthNet Revamps Website and Enhances Customer Experience

HealthNet, Sri Lanka’s first full service e-pharmacy, has upgraded its web platform and added more services to enhance customer experience. The new website, sporting a fresh new look, and offering a host of new features, was launched at a ceremony held recently, in the presence of Professor Vajira H.W. Dissanayake, Chair of the Specialty Board in Biomedical Informatics in the University of Colombo.

“HealthNet has grown significantly, in a short period of two years,” said Deeshana Basnayake, Co-Founder/CEO, HealthNet, “to fill more than 17,000 prescriptions and serve over 6,000 satisfied customers. Throughout this period, we listened closely to our customers and identified a number of ways we could enhance our service experience. The new HealthNet process is simpler, more personal, and offers a host of incredible new features.”

Research has shown that non-adherence of long-term chronic medication, due to factors such as forgetfulness, late monthly refills, delayed doctor visits and non-availability of medicines, is a complex health care problem. Most often this type of non-adherence leads to dangerous health complications for patients suffering from non-communicable diseases. HealthNet helps customers overcome this situation by simplifying the pharmacy experience. Customers submit prescriptions online, which are then filled out by certified pharmacists and delivered within a period of 24 hours.

HealthNet began operations offering delivery services only in the Colombo region, but has now expanded its reach to cover the suburbs, including Wattala, Kottawa, Athurugiriya and Moratuwa, for prescription medication. Non-prescription and over the counter medicines are delivered island wide.

HealthNet sources all medications directly from licenced importers and authorised agents. Prescriptions are prepared by SLMC certified pharmacists and delivered using temperature-controlled transport units. Delivery is free for orders exceeding LKR 5,000, while a nominal fee of Rs. 150 is charged for deliveries within Colombo 1-15, and Rs. 250 for Colombo suburbs. HealthNet adheres to regulations and guidelines stipulated by the National Medicine Regulatory Authority – Ministry of Health.

Rangika Wijesinghe, Co-Founder/Director, HealthNet added, “Our new website is more than just a fresh new logo and layout. It also offers customers a number of new features, including automated refills, dose reminders, managing multiple patients and prescriptions under one subscription and a prescription log book to maintain records. We also provide on-call pharmacist assistance for demonstrations and support, upon request.”

HealthNet retails medications at competitive prices. Payments can be made online via a secure payment gateway or upon delivery using cash or POS card machines. Customers can also order a reduced quantity of items on a prescription if they so wish. However, this does not apply to antibiotics, as patients are required to complete the prescribed dosage.

The new website can be visited at healthnet.lk.

Healthnet can also be contacted via email on info@healthnet.com or through the hotline 0117 795 795 which is open between 6 AM and 12 midnight, seven days a week.

Read more
Musaeus  champions at CA Sri Lanka Business Plan  Competition 2019

Musaeus champions at CA Sri Lanka Business Plan Competition 2019

One of Colombo’s leading schools, Musaeus College clinched the championship at the grand finale of the CA Sri Lanka Business Plan Competition 2019 organised by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka).

Musaeus College competed against five other top schools, pitching an innovative and eco-friendly business plan in developing an edible cup, to win the grand prize to fly to Brisbane, Australia in May to represent Sri Lanka at the BlueShift Business Case Competition organised by the QUT Business School of the Queensland University of Technology along with a cash prize of LKR 250,000.

Former Sri Lanka cricketer and Ideal Group of Companies Deputy Chair Aravinda de Silva was the chief guest at the event.

Devi Balika Vidyalaya, Colombo was adjudged the first runner up and was awarded a cash prize of LKR 150,000, while Bandaranayake College, Gampaha was the second runner up, and received a cash prize of LKR 100,000. The other teams which competed at the grand finale were St. Bridget’s Convent, Rathnavali Balika Vidyalaya, and Bandarawela Central College.

For the third consecutive year, the QUT Business School of the Queensland University of Technology (QUT), Brisbane came on board as the strategic partner of the CA Sri Lanka Business Plan Competition, which was conducted in association with the Sri Lanka and Australia Chamber of Commerce (SLACC).

The panel of judges at the grand finale was led by Dr. Roshan Ajward, Senior Lecturer at the University of Sri Jayewardenepura. The other members of the panel were Andrew Paltridge, Assistant Dean (International) of the QUT Business School, Kalum De Silva, National President of SLACC Ravi Jayawardena, Group Chief Executive Officer of Maliban Biscuits Manufactories (Pvt) Ltd and Varuni Amunugama Fernando, Co-Founder and Joint Managing Director of Triad (Pvt) Ltd.

Speaking at the event, Chief Guest Aravinda de Silva said that the number one secret to success is passion. “You must understand that sometimes every business plan is not going to be a winning plan but with passion, you can sometimes make it a winning plan.”

He also advised the students to never be afraid of making mistakes. “The only way you can learn is by making mistakes. We have all got here by making mistakes all through our lives, but it is important to remember that must never repeat the same mistake. It is only then will you really progress in life,” de Silva said.  High Commissioner (designate) of the Australian High Commission to Sri Lanka David Holly who was the guest of honour at the event urged the students to not only think local but to aspire to go global. “Your ideas through the business plans are ones I hope you will expand not only at a Sri Lankan level but will also think of expanding at a global level,” he said.

CA Sri Lanka President Jagath Perera said that the primary objective of the Business Plan competition is to help strengthen the soft skills of students and help them gain a better understanding of business matters. “This programme will definitely give a lot of value to all students after you complete your school education and focus on your professional careers,” he said.  Andrew Paltridge said he was impressed at the level and thought that had gone into each of the six business plans which focused on bringing positive outcomes for both the society and environment. “I was impressed not only at the business plans but also because each of these teams had a reason for developing these plans, stemming from ethical reasons, health issues and environmental concerns,” he said.

Kalum De Silva said that his chamber has been instrumental in becoming a bridge between Sri Lanka and Australia’s business communities and the Business Plan Competition organised with QUT and SLACC is also one such partnership. “In 2015, the bilateral trade between the two countries was around AUD 830 million and today this trade stands at around AUD 1.5 billion,” he disclosed.

Chair of the CA Sri Lanka Media & Communications Committee Laknath Peiris said that it is a known fact that Sri Lanka needs successful entrepreneurs to create wealth and generate employment. “Therefore, as the National Accounting Body we have taken the necessary steps to develop and harness the entrepreneurial skills among our future business leaders who we hope will go on to become world class entrepreneurs while helping Sri Lanka reach its potential as a global player,” he added.

Around 30 school teams competed at the regional rounds which were held across Colombo, Kandy, Gampaha, Ratnapura, Kurunegala, Bandarawela and Jaffna in February and March. The six teams for the grand finale were chosen based on the highest aggregate marks the participating schools received at the regional rounds.

Panel of judges at the grand finale (From L to R) Triad Co-Founder and Joint Managing Director Varuni Amunugama Fernando, QUT Business School Associate Dean (International) Andrew Paltridge, Sri Jayewardenepura University Senior Lecturer Dr. Roshan Ajward, Maliban Biscuits Manufactories Group Chief Executive Officer Ravi Jayawardena, and SLACC National President Kalum de Silva.

CA Sri Lanka President Jagath Perera exchanging the MOU with SLACC President Kalum De Silva to continue the CA Sri Lanka Business Plan Competition next year. QUT Business School Assistant Dean (International) Andrew Paltridge, while CA Sri Lanka’s Media & Communication Committee Chair Laknath Peiris and Secretary Lakshman Athukorala look on.
Champions of the CA Sri Lanka Business Plan Competition 2019 Musaeus College flanked by first runner up Devi Balika Vidyalaya and second runner up Bandaranayake College, Gampaha.
Former cricketer and Ideal Group of Companies Deputy Chair Aravinda de Silva delivering his speech.
Read more