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Sumathi Information Technologies (Pvt) Ltd (SIT), a technology arm of Sumathi Holdings, marks 25 years in Sri Lanka’s ICT industry in 2026, reflecting a journey that has seen the company evolve from Networking and End Devices to become an end-to-end enterprise technology and systems integration provider.
Its 25th anniversary is being commemorated under the theme “25 Years of Excellence. Built on Trust. Driven by Technology.” highlighting the role of technical expertise, client relationships and technology partnerships in shaping its growth.
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AIA Group Limited (the Company) announces value of new business (VONB) for the third quarter ended 30 September 2026. Growth rates are shown on a constant exchange rate basis.
• VONB for the first nine months of 2026 was up by 5 per cent to US$4,627 million, driven by growth across all reportable segments except Thailand.
• VONB in the third quarter was lower by 5 per cent to US$1,415 million against exceptionally high prior year July and August comparatives in Hong Kong and the Chinese Mainland.
• The Group returned to excellent year-on-year VONB growth of more than 25 per cent in September. We expect strong momentum in the fourth quarter, supported by the normalisation of comparative effects.
• As announced with our 2026 interim results, we expect to exceed our 9 to 11 per cent operating profit after tax (OPAT) per share CAGR target from 2023 to 2026.
Lee Yuan Siong, AIA’s Group Chief Executive and President, said:
“AIA delivered VONB growth of 5 per cent for the first nine months of 2026, despite exceptionally high prior-year sales in Hong Kong and the Chinese Mainland that affected third-quarter growth. Group VONB rebounded strongly in September, delivering year-on-year growth of more than 25 per cent.
“We continue to see attractive growth opportunities across our markets. Demand for protection, health, savings and retirement solutions remains strong, and we are investing in our competitive advantages to capture this. Agency fundamentals continue to strengthen, with higher numbers of active agents, new recruits and new leaders year-on-year, alongside deeper engagement with our bank partners.
“We entered the fourth quarter with strong momentum and remain confident in our outlook. As announced with our 2026 interim results, we expect to exceed our 9 to 11 per cent OPAT per share CAGR target from 2023 to 2026, demonstrating how our profitable new business growth translates into increased earnings and long-term value for shareholders.”
Fitch Ratings has upgraded Commercial Bank of Ceylon PLC’s National Long-Term Rating to ‘AA(lka)’ from ‘AA-(lka),’ effective 30th October 2026, reinforcing the Bank’s position as Sri Lanka’s benchmark private-sector lender and highlighting its enduring financial strength.
The upgrade follows Fitch’s recalibration of Sri Lanka’s national rating low credit scale after the sovereign rating upgrade in September 2026, while also reflecting the scope for greater positive differentiation of Commercial Bank’s credit profile relative to large private-sector banking peers.
The ‘AA(lka)’ rating signifies very high credit quality and very low default risk relative to other issuers in the country, providing an important signal of the Bank’s strong capital adequacy, liquidity, and asset quality to investors, depositors, corporate customers and international banking partners.
Fitch’s assessment recognises Commercial Bank’s longstanding position as Sri Lanka’s largest private-sector bank, its sustained advantages in business generation and funding, and its optimised cost of funds relative to other large private-sector banks. The Bank’s asset quality, profitability and capital coverage of net impaired loans have also generally remained among the stronger levels within the range of rated local banks, the rating agency noted.
“Any rating upgrade of this nature is significant for stakeholders,” Sharhan Muhseen, Chairman of Commercial Bank noted. “For our customers, the upgraded rating provides an additional indicator of the Bank’s stability and financial strength in safeguarding their investments and assets. For businesses and individuals seeking financing, the Bank’s strong institutional creditworthiness and funding advantages underpin its capacity to offer competitive financing solutions and support their diverse growth ambitions.”
Commenting on the upgrade, Sanath Manatunge, Managing Director/CEO of Commercial Bank, said: “This rating upgrade is a powerful affirmation of the financial resilience, disciplined risk management and enduring strength of Commercial Bank. It validates the deep confidence our customers, investors and international partners place in us, and strengthens our capacity to support Sri Lanka’s businesses, households and economic progress.”
The stronger credit profile also reinforces Commercial Bank’s international correspondent banking relationships, supporting the continuity and efficiency of cross-border banking, trade finance and capital repatriation services for customers engaged in international trade, the Bank said.
While the rating action was directly prompted by the recalibration of Sri Lanka’s national rating scale following the sovereign upgrade, it also positions Commercial Bank as a key beneficiary of the country’s macroeconomic recovery, reflecting a balance sheet and risk management framework that remained exceptionally resilient through earlier economic volatility. This underscores the Bank’s ability to sustain strong financial fundamentals through challenging periods and its favourable position within the domestic banking sector, the Bank added.( ComBank)
Sysco LABS Sri Lanka’s engineering teams have contributed to the development of the Sysco Agentic Ecosystem (SAGE), the enterprise AI platform for which Sysco Corporation was named runner-up in the Retail & Consumer Goods, Americas category at the 2026 Gartner Eye on Innovation Awards.
The recognition reflects Sysco’s continued pursuit of technological excellence through investment in AI and new approaches to business challenges. Sysco LABS plays a pivotal role in this work, bringing Sri Lankan engineering expertise to a collaborative effort across Sysco’s global technology organization.
Sysco is the world’s largest global foodservice distributor supplying restaurants, hotels, healthcare facilities and other businesses that prepare meals away from home. SAGE brings governed agentic AI into its operations across sales, supply chain and administrative functions. It connects AI agents, software that can perform tasks, with business data and systems, enabling them to recommend actions and carry out workflows within a common governance framework.
Commenting on the recognition, Thushera Kawdawatta, Managing Director, Sysco LABS Sri Lanka, and Vice President, GIC Strategy & Operations, Sysco, said, “Being recognized by Gartner validates the exceptional dedication and ingenuity of the team behind this milestone. As Sri Lanka continues to strengthen its role as Sysco’s global AI epicenter, it is our people who are driving this paradigm shift. Through seamless collaboration across our global technology ecosystem, we are deploying world-class talent to solve complex challenges at scale, proving that we are not just embracing the future of AI, but actively shaping it together.”
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