Business
Plans to sell controlling stake in Dankotuwa Porcelain boost market; Lanka IOC shares up as well
By Hiran H.Senewiratne
CSE trading was slightly volatile yesterday but in mid- session the market received a boost when plans were announced for the sale of the controlling stake in Dankotuwa Porcelain, market analysts said.It is said that a share purchase agreement was announced between Ambeon Holdings and Ceyline Investments. Ambeon Holdings plans to sell a 50.1 percent stake in Dankotuwa Porcelain to Ceyline Investments, running into Rs 2.3 billion.
The overall market is moving up on domestic debt optimization assurances, picking up several stock counters in the market, analysts said. According to Ambeon, the transaction is subject to completion on conditions precedents identified in the said share sales and purchase agreement.
The Lanka IOC share price also moved up with the announcement that Sri Lanka is in talks with India to build an oil pipeline to transport fuel to the Eastern Port of Trincomalee.
‘There are on-going discussions on bringing an oil pipeline from India to Trincomalee, President Ranil Wickremesinghe told energy investors, according to a statement from his media office.
Trincomalee has a World War II-era 99 tank farm. A part of the tank farm is under the control of Lanka Indian Oil Corporation. The rest is under the joint control of IOC and the Ceylon Petroleum Corporation.
Further, the banking and diversified financial sectors are picking up on domestic debt optimization assurances, while investors are seeking alternative investments, bringing up the market on green, an analyst said. The consumer durables and apparel sector drew in 2.3 billion rupees in revenue in mid- day trade.
Amid those developments both indices moved upwards marginally. The All- Share Price Index was up by 1.5 points and S and P SL20 rose by 8.2 points. Turnover stood at Rs 5 billion with eight crossings. Those crossings were reported in Dankotuwa Porcelain, where 81.4 million shares crossed to the tune of Rs 2.3 billion and its shares traded at Rs 28.30, Distilleries 1.5 million shares crossed for Rs 33.7 million; its shares traded at Rs 32.50, HNB’s 200,000 shares crossed to the tune of Rs 32.8 million; its shares traded at Rs 164.
Sunshine Holdings 602,000 shares crossed to the tune of Rs 30.1 million; its shares traded at Rs 50, Hayleys 300,000 shares crossed for Rs 27 million; its shares traded at Rs 90, JKH 145,000 shares crossed for Rs 23 million and its shares fetched Rs 159m, Bahira Farms 125,000 shares crossed to the tune of Rs 21.2 million and its shares traded at Rs 170 and Expolanka Holdings 150,000 shares crossed for Rs 21.15 million; its shares traded at Rs 141.
In the retail market top seven companies in the market that contributed to the turnover were Lanka IOC, Rs 409.7 million (2.9 million shares traded), Sunshine Holdings Rs 371 million (7.4 million shares traded), Hemas Holdings Rs 109.7 million (1.4 million shares traded), Sampath Bank Rs 98.2 million (1.5 million shares traded), JKH Rs 74.6 million (469,000 shares traded), Commercial Bank Rs 70.1 million (874,000 shares traded) and Aitken Spence Rs 69.6 million (512,000 shares traded). During the day 172 million share volumes changed hands in 13000 transactions.
Lankem Group’s Agarapatana Plantations Ltd. is to list on the Colombo Stock Exchange via an Initial Public Offering worth Rs. 747.6 million.The CSE has approved, in-principle, an application by the company to list on the Diri Savi Board.
The IPO involves 83,070,111 Ordinary Voting Shares at Rs. 9 each. The quantity of shares amount to 16.61% of the post-issue Ordinary Voting Shares of the company.Net Asset Value per share of the Equity (NAV) is Rs. 8.43 and the Offer Price is 1.07 times the NAV. Capital Alliance Partners Ltd. is the manager of the IPO.
Funds raised via the IPO are for investment in modern equipment to develop APL factories to “State of the Art – Processing Centres” (Rs. 672.6 million) and settlement of high-cost term loans worth Rs. 75 million.Yesterday the Central Bank’s US dollar buying rate was Rs 308.16 and selling rate Rs 321.87.
Business
Sri Lanka’s first generative AI‑powered, trilingual insurance assistant
Sri Lanka Insurance Corporation General Limited (SLICGL) unveiled Beechat, the country’s first generative AI‑powered insurance assistant, heralding a milestone for Sri Lanka’s insurance industry and move towards digital services.
Beechat is designed to transform the customer experience. Available through the SLICGL website (https://www.slicgeneral.com/) and customer portal, the Assistant offers customers instant access to policy information, real-time claim status updates, and insurance-related help 24 hours a day, seven days a week.
For customers, Beechat makes insurance simpler and always available. Instead of waiting in queues, calling hotlines, or being limited to business hours, customers can check policies, track claims, and receive instant answers in Sinhala, Tamil, or English, empowering every customer, whatever their language, to manage their insurance with ease.
The inclusivity ensures every customer, regardless of language preference, can engage with insurance services seamlessly. The AI‑driven platform reduces complexity, eliminates delays, and builds trust. Ultimately, Beechat transforms insurance from a process often seen as slow and complicated into a smooth digital journey that fits modern lifestyles.
The launch of SLICGL Beechat is strategically important for the organization because it strengthens its position as a leader in innovation within Sri Lanka’s insurance industry. Introducing the country’s first generative AI‑powered, trilingual insurance assistant, SLICGL demonstrates a commitment to digital transformation and technology‑driven service excellence.
The initiative reaffirms the company as forward‑thinking and customer‑centric and differentiating from competitors who still rely on traditional service models. It signals to industry stakeholders that SLICGL is setting new standards for accessibility, efficiency, and convenience in insurance.
Pioneering AI‑driven customer engagement, the company sets a new benchmark. Beechat demonstrates how technology can elevate insurance from a traditional service into a dynamic, futuristic experience, strengthening SLICGL’s relationship with the people it services. (SLICGL)
Business
‘Lanka Tractors returns with a historic Colombo 11 showroom’
Lanka Tractors Limited officially reopened its original showroom in Colombo 11, marking the return of one of Sri Lanka’s most recognised agricultural machinery companies and the official launch of the ACE Tractor brand in the country.
Located at 343 Olcott Mawatha, Colombo 11, the showroom was ceremonially declared open by Chief Guest Dudley Sirisena, Chairman of the Araliya Group of Companies, in the presence of Upul Jayasuriya, Chairman of Lanka Tractors Limited, Thilina Abeysuriya, Managing Director, Nishantha Yapa, Head of Business, and Rajiv Gunawardena, CEO of Asia Asset Finance PLC.
Originally established in 1971 as the State Trading (Tractor) Corporation, Lanka Tractors was restructured in 1991 and became one of Sri Lanka’s largest importers and distributors of agricultural machinery. Over the decades, the company represented internationally renowned brands including Massey Ferguson, Kubota and TAFE, earning the trust of generations of Sri Lankan farmers through quality products, technical expertise and dependable after-sales support. The reopening of its original Colombo 11 showroom, first established in 1982, marks the revival of an institution that has played a pivotal role in the mechanisation of Sri Lankan agriculture for more than five decades.
The company’s revival commenced in late 2025 through an exclusive partnership with ACE Tractors, the agricultural division of Action Construction Equipment (ACE) Limited, one of India’s leading engineering and manufacturing companies. ACE manufactures tractors, agricultural machinery, construction equipment and industrial equipment, with annual production capacity exceeding 9,000 tractors, exports to more than 37 countries, and a dealer and service network spanning over 100 locations worldwide.
Prior to the commercial launch, Lanka Tractors adopted an extensive validation programme to ensure the products were ideally suited to Sri Lankan farming conditions. Three introductory models—the ACE VEER 3000 (26 HP 4WD), ACE DI 350 NG (40 HP 2WD) and ACE DI 450 NG (45 HP 4WD)—underwent rigorous field testing across multiple agricultural regions under the supervision of ACE technical specialists. Following several product refinements based on local operating conditions, the tractors were introduced to the market in April 2026.
Business
Akurugraphy exhibition opens at Geoffrey Bawa Space in Colombo
The desire to communicate and be understood is at the heart of what it is to be human. In contemporary life, digital infrastructure underpins how we work, live, and share information, but the letterforms that carry our languages are rarely neutral.
Arkurugraphy, a new exhibition at the Geoffrey Bawa Space, explores the history, culture, and future of letterforms across Sri Lanka’s three official languages. Presenting the decade-long practice of Colombo-based type foundry Mooniak, it examines how decisions about the digitisation of Sinhala, Tamil, and Latin scripts impact legibility and carry deep consequences for who is seen, who is heard, and whose language endures.
Writing systems carry human thought and knowledge across time and space. Letterforms can become a form of cultural artefact, unique graphic symbols representing identity and belonging. Today, these inherited letterforms often take shape as digital fonts, their design demanding fluency across history, aesthetics, linguistics, and technical standards. Akurugraphy asks audiences to look at letterforms beyond the act of reading: to appreciate their form, trace their past, and consider the decisions that impact their future.
Akurugraphy brings together typographic specimens, archival material, and software development spanning Mooniak’s full body of practice. It is a celebration of letterforms as art and an examination of the technical and political stakes of designing scripts for the digital age. As part of the exhibition, the Geoffrey Bawa Space will host a programme of monthly talks, curatorial tours, workshops, and children’s programmes.
Akurugraphy is open Wednesday through Sunday, 10:30 a.m. – 5:30 p.m., and will be on view until 8 November 2026. The exhibition is designed to be accessible and welcoming to all visitors. The Geoffrey Bawa Space offers step-free access and wheelchair accessible facilities. Tactile elements are available throughout the exhibition. More information is available at geoffreybawa.com/akurugraphy .
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