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P.18 P.30 P.64 APRIL 2021 P.18 WHAT SHOULD THE SRI LANKA STATE PRIORITIZE? PART 2 P.6 4 SANJI DE SILVA ON DEMAND FOR HEALTH LOGISTICS SOFTWARE, GOING GLOBAL AND SEGMENTING THE DAY INTO FOUR SESSIONS P.4 6 BEGINNING THIS APRIL AND FOR SEVERAL MONTHS TO FOLLOW, ECHELON IS CELEBRATING LEADERSHIP: A PHENOMENON THAT IS WIDELY STUDIED BUT LITTLE UNDERSTOOD CENTRAL BANK SHOULD GUARD AGAINST BANKRUPTCY AS FED LIGHTS INFLATION FIRES P.30 2 ECHELON.LK APRIL 2021 APRIL 2021 ECHELON.LK 01 02 ECHELON.LK APRIL 2021 APRIL 2021 ECHELON.LK 03 04 ECHELON.LK APRIL 2021 APRIL 2021 ECHELON.LK 05 CONTENTS APRIL 2021 P.16 A road to somewhere A focus on rural roads has increased connectivity and opportunity P.18 What should the Sri Lankan state prioritize? Part 2. Vaccines, groundwater, public transport & postal services P.22 Listed firms defy Covid-19 Companies listed on the Colombo Stock Exchange ended the year of the Covid-19 pandemic with record profits P.42 P.30 For a Greener and Cleaner Colombo P.108 Central bank should guard Colombo’s environment Entrepreneurial against bankruptcy as Fed scorecard is amber, lights inflation fires or maybe even red, in spirit? certain areas. Should the Best forget it! The loosest domestic policy in history, growth of the city still be When discretion another round of bad policy at the negatively correlated with is the better part Fed is converging on swaps and credit greening efforts? of valour downgrades 06 ECHELON.LK APRIL 2021 CONTENTS APRIL 2021 P.24 Collective RCM: The Art of Celebrating People Founded five years ago, the company found success by providing constant support to team members on both a professional and personal level. Here's what 20 employees who have been with the company since inception have to say about working at Collective RCM P.94 oDoc: Better Healthcare for All is Now a Reality This startup is making high- quality healthcare universally accessible, affordable, and personal by unlocking the potential of digital technology P.102 VeracityAI: Transforming P.98 the Insurance EFL: A Story of Industry with AI Brand Innovation in VeracityAI has developed Logistics WENN CarEye that scans the In a dynamic marketplace that’s exterior of a vehicle, analyses rapidly changing and highly wear and tear, diagnoses competitive, the power of a problems, and more brand determines its success 08 ECHELON.LK APRIL 2021 APRIL 2021 ECHELON.LK 09 CONTENTS APRIL 2021 P.60 Daraz's Managing Director Rakhil Fernando on growth, e-commerce opportunity, and leading a young team P.48 Building Global Solutions for Trade P.52 Transforming a Legacy P.56 The Bellwether Banker P.64 Sanji De Silva on demand for health logistics software, going global and segmenting the day into four sessions P.68 The Real Estate Expert P.72 The Impact Banker P.74 Keeping pace with technology’s rapid upheavals P.76 Reimagining construction P.86 P.80 CryptoGen: Enabling a Secure Niranka Perera on scaling Digital Transformation eCommerce solutions and how the business changed after the P.88 Easter Sunday attacks The Audacious Dynamic Duo P.84 P.90 The Daring Pathfinder Living a Passion 10 ECHELON.LK APRIL 2021 Editor’s Desk Leadership, charisma and narcissism eginning this April and for several months to follow, Echelon is celebrating leadership: a phenomenon that is widely studied but little understood. To prosper economically, Sri Lanka will require, B more than anything else, great leadership with vision to set the course for the future. Businesses will also rely on these leaders to build globally competitive companies, and create jobs and prosperity in the process. Successful leaders also pay In our discussions we explored three attention to the goings on, they areas; the nature and behaviour of leaders, will determine what strategic of those who are led and the structure of the action needs to be taken, set a organisation in which the leading takes place. Our conversations revealed that leaders had new direction and concentrate unique approaches but overall their values the attention of everyone in the and principles were similar. company on it. Often, people confuse competence, with confidence, charisma and narcissism. On the contrary it became evident, to us, that successful business leaders had sufficient empathy to understand the concerns of others. Things do go wrong, as they did during the Coronavirus pandemic, and great leaders showed the flexibility to adjust their strategy. Successful leaders also pay attention to the goings on, they will determine what strategic action needs to be taken, set a new direction and concentrate the attention of everyone in the company on it. We called the special series of articles featuring these conversations ‘Daring CEOs’. SHAMINDRA KULAMANNAGE, EDITOR-IN-CHIEF Facebook YouTube JOIN THE ECHELON COMMUNITY @echelonmag Echelon Magazine Write to us, tweet us, tag us on Instagram: We promise to read each and every one of your comments. Twitter Instagram @EchelonMag echelon_mag LinkedIn Echelon Magazine Sri Lanka APRIL 2021 ECHELON.LK 13 MASTHEAD EDITOR-IN-CHIEF Shamindra Kulamannage DEPUTY EDITOR Devan Daniel CONTRIBUTORS Chanka Jayasinghe, Maria Soysa, Mahadiya Hamza COLUMNISTS Bellwether, Rohan Samarajiva, Nick Hart DESIGN & LAYOUT Buddhika Pigera, Selvaraj Gopinath, Thiyashi Koththigoda, Tharaka Caldera, Huzni Mohamed, Trevor Sylvester PHOTOGRAPHY Preveen Rodrigo, Shafraz Farook, Saaliya Thilakarathna EXECUTIVE DIRECTOR Antoinette Ludowyk HEAD OF SALES BUSINESS MEDIA Wazim Ahamed ADVERTISING & SALES Kushanthie Abeyratne, Niluksha Myelvaganam, Hashini Mahanama PUBLISHER Echelon Media (Pvt) Ltd HOW TO CHAIRMAN Channa De Silva REACH US ADDRESS No 15, Station Road, ISSN 2362-1001 Colombo 3, Sri Lanka. T: 011 2573001 For reprint information, write to [email protected] www.echelon.lk This Magazine supports the Press Complaints Commission of Sri Lanka HOW TO REACH US RIGHTS OF READERS [email protected] SUBSCRIPTIONS The Editor and the journalists of this magazine respect the “Rights of Readers” and endeavour to follow the Code of Professional Practice of The www.echelon.lk/home/subscription Editors’ Guild of Sri Lanka, which is implemented by the Press Complaints Commission of Sri Lanka. If you have a grievance against us, you are welcome to contact us directly and we will strive to provide redress to you. © 2021 Echelon Media (Pvt) Limited. All rights reserved. If you are not satisfied, you could complain to: The Press Complaints No part of this publication Commission of Sri Lanka (PCCSL) may be reproduced or distributed in any form without the prior written For further information contact permission of the publisher. 96, Kirula Road, Colombo 5 The views and opinions Tel: 5353635 Fax: a5335500 expressed in this publication E-mail: [email protected] are those of the authors. Web page: www.pccsl.lk 14 ECHELON.LK APRIL 2021 A ROAD TO SOMEWHERE A focus on rural roads has increased connectivity and opportunity A ten-year national road masterplan is proposing two major additions to Colombo’s network, an elevated highway linking the New Kelani Bridge to downtown Colombo, and a tunnel connecting the Marine Drive extension to the port and to a proposed multi- modal transport hub at Pettah. Improving connectivity between the Southern and Nothern parts of Colombo is a focus of the new roads to meet future transport demand created by the Port City and Colombo Port expansion. The master plan's other objective is to improve roads all over the island. Sri Lanka’s road network is extensive and investments in the last few decades have improved its quality. Sri Lanka’s current road density per square km. A high concentration 1.7KM compared to peers. share of passenger traffic carried on roads. Rail carries the 95% rest of the traffic. A highway in Sri Lanka’s rural Uva province of roads have asphalt winds along the surfaces, followed by mountain slopes. 25% made with tar over Roads such as 72% layers of crushed stones. this one are the main arteries connecting rural communities to socio-economic Source: Road Development Authority centres. 16 ECHELON.LK APRIL 2021 BIG PICTURE APRIL 2021 ECHELON.LK 17 : THIYASHI KOTHTHIGODA THIYASHI : ILLUSTRATIONS BY 18 ECHELON.LK APRIL 2021 AGENDA ARTHASHASTHRA WHAT SHOULD THE SRI LANKAN STATE PRIORITIZE? PART 2. Vaccines, groundwater, public transport & postal services BY ROHAN SAMARAJIVA urrently, the Sri Lankan state Externalities does many things badly. Externalities occur when the actions of a person or organi- Despite having a strong pub- zation impact those with whom there is no relationship or lic health system and months contract. to get ready, it has failed to When the impact is a good one, it is described as a posi- deploy the vaccines in an tive externality. One may stand in line and obtain a Covid-19 C orderly manner. It is building vaccine to prevent oneself from getting infected, having to expressways while cancelling be quarantined, and suffering various ill effects, including public transport enhancements. death. But this action has benefits for unconnected others. Sri Lanka needs a state that does many The more people get vaccinated, the quicker the spread of the things well, or at least a few things well. What disease is halted. Even those who refuse to get vaccinated are the few things that the Sri Lankan state benefit from the actions of those who do. That is a positive should do well? After it has mastered delivery externality. of the highest priority services, it can start on If people think they gain the benefits of a disease-free the lower-priority tasks. environment through the positive externalities only, they may In Part 1 the misguided priorities regard- avoid the injections and the associated discomforts. If too ing public goods, including national defence, many people think like this, the social benefits of vaccination law and order, and justice were discussed.
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