Business

JKH in major business tie-up to launch casino in Colombo

Published

2 years ago

2024/05/3

By Hirna H.Senewiratne

JKH, which is a top company with high market capitalization in the CSE, said it is tying up with Melco Resorts and Entertainments Ltd. to run a casino at its billion dollar integrated resort in Colombo.

Melco will also invest US $125 million in equipping the gaming space, JKH said in a stock exchange filing. The JKH project, earlier named Cinnamon Life Integrated Resort, will be rebranded as ‘City of Dreams Sri Lanka’.

‘City of Dreams’ is a brand of Melco, which operates resorts in Macau, the Philippines and Cypress, JKH said. A wholly-owned Sri Lanka subsidiary of Melco has been awarded a 20-year casino license by the government.

Amid those developments the CSE did not perform well yesterday due to some profit- takings. Both indices moved downwards. The All Share Price Index went down by 9.27 points, while S and P SL20 declined by 8.56 points.

Turnover stood at Rs 3billion with seven crossings. Those crossings were reported in Hayleys, where 2.6 million shares crossed to the tune of Rs 242 million; its shares traded at Rs 94, Janashakthi Insurance 1 million shares crossed for Rs 53 million; its shares traded at Rs 53, Hayelys Fabrics 1.17 million shares crossed to the tune of Rs 48.8 million; its shares sold at Rs 41.50, NDB 450,000 shares crossed for Rs 35.7 million; its shares traded at Rs 79.50, Royal Ceramic 1 million shares crossed for Rs 34 and its shares traded at Rs 34, Vallible One 500,000 shares for Rs 21.5 million; its shares sold at Rs 43 and LB Finance 293,000 shares crossed for Rs 21.1million; its shares traded at Rs 72.

In the retail market top seven companies that mainly contributed to the turnover were; JKH Rs 243 million (1.15 million shares traded), Hayleys Rs 174 million (1.8 million shares traded), Royal Ceramic Rs 123 million (3.5 million shares traded), Central Finance Rs 111 million (886,000 shares traded), CIC Holdings (Non- Voting) Rs 107 million (1.7 million shares traded), Lanka IOC Rs 97.1 million (740,000 shares traded) and CIC Holdings (Voting ) Rs 90.6 million (1.1 million shares traded). During the day 272 million share volumes changed hands in 21200 transactions.

Yesterday, the rupee opened stronger at Rs 296.50/80 to the US dollar from 297.50/298.50 on Tuesday, dealers said. Bond yields were broadly steady, dealers added. A bond maturing on 15.12.2026 was quoted at 10.80/90 percent, up from 10.80/85 percent. A bond maturing on 15.09.2027 was quoted at 11.15/30 percent, up from 11.15/25 percent. A bond maturing on 15.03.2028 was quoted at 11.55/65 percent down from 11.55/70 percent. A bond maturing on 15.05.2030 was quoted at 12.20/25 percent from 12.10/20 percent.

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Business

Janashakthi Finance relocates Nugegoda branch

Published

4 mins ago

2026/05/11

Thilina Walpola

The new premises offer improved accessibility and enhanced facilities

Janashakthi Finance PLC, a member of JXG (Janashakthi Group), has relocated its Nugegoda Branch to a more accessible and customer-friendly location at No. 136/5, S. De S. Jayasinghe Mawatha, Nugegoda, further strengthening its commitment to convenience and service excellence.

Situated in the heart of one of Colombo’s busiest urban centres, the new premises offer improved accessibility and enhanced facilities, enabling customers to engage with the Company’s services in a more comfortable and efficient environment.

The branch continues to provide a comprehensive range of financial solutions, including deposits, savings accounts, leasing, gold loans, alternative finance solutions, corporate and SME financing and other tailored financial services designed to meet both individual and business needs.

Speaking at the opening, Sithambaram Sri Ganendran, Chief Executive Officer of Janashakthi Finance PLC said, “Customer convenience and accessibility remain central to our branch strategy. Nugegoda is a vibrant and densely populated commercial hub, and this relocation allows us to enhance service delivery while providing an improved experience for our valued customers. We remain committed to supporting the financial aspirations of individuals and businesses within the community”.

Business

Nüwa at City of Dreams celebrates 5-star recognition

Published

4 mins ago

2026/05/11

Thilina Walpola

The event reflected the country’s growing prominence on the global luxury travel map

Nüwa at City of Dreams Sri Lanka, the luxury flagship hotel within South Asia’s first fully integrated luxury resort, marked a significant milestone with a special press conference and celebration honouring its prestigious 5-Star recognition, further reinforcing its position as one of the leading luxury hospitality destinations in the region.

Held at the elegant Crystal Lounge at Nüwa, the exclusive evening brought together key figures from Sri Lanka’s tourism and hospitality sectors, media representatives, and senior leadership from City of Dreams Sri Lanka to celebrate a moment that reflects the country’s growing prominence on the global luxury travel map.

The event was graced by Professor Ruwan Ranasinghe, Deputy Minister of Tourism, and Buddhika Hewawasam, Chairman of the Sri Lanka Tourism Development Authority (SLTDA), whose presence underscored the significance of Nüwa’s achievement for the national tourism industry.

The evening commenced with a press conference moderated by Chamika Karunaratne, Head of Marketing at City of Dreams Sri Lanka, and featured leadership insights on Sri Lanka’s evolving luxury hospitality landscape and the role of integrated resorts in positioning Colombo as a world-class destination. Senior leadership from City of Dreams Sri Lanka, including Michael Habashi (General Manager – Property) and Thakshila Galappaththy (Hotel Manager), shared perspectives on Nüwa’s journey and its vision for setting new standards in personalised luxury.

Business

HNB introduces tailored financing for 447 Luna Tower apartments

Published

5 mins ago

2026/05/11

Thilina Walpola

HNB, Chief Operating Officer /Senior Executive Vice President, Sanjay Wijemanne and Managing Director - Belluna Lanka, and Director - Union Place Apartments (Pvt) Ltd, Reyhan Morris share the MoU, alongside the representatives from both organizations

HNB PLC, the leading private bank in Sri Lanka, has entered a significant new chapter in its legacy of enabling homeownership through a strategic partnership for 447 Luna Tower with Union Place Apartments (Pvt) Ltd., a Belluna Lanka company. The partnership was formalized with the signing of a MoU on 12 February 2025, establishing exclusive home financing solutions for prospective buyers of 447 Luna Tower, a completed residential development. Located in Colombo 02, 447 Luna Tower brings together well-planned design, a timeless central address, and immediate occupancy readiness.

As a key residential development by Belluna Lanka, 447 Luna Tower combines international investor confidence with local expertise, fully funded and backed by Belluna. All residences are complete and ready for immediate occupancy, with a limited release of residencies now available. This presents homeowners a rare opportunity to acquire premium property in one of the city’s most desirable locations.

HNB, Chief Operating Officer, Sanjay Wijemanne, said, “At HNB, we are committed to promoting a higher quality of life through meaningful homeownership. Our partnership with Union Place Apartments, for 447 Luna Tower enables families to access residences that reflect what today’s buyers increasingly value in quality, functionality, long-term living and our tailored financing solutions ensure that this standard of living is within reach for aspiring homeowners.”

With flexible loan structures, transparent processes, and dedicated customer support, the bank strengthens its position as a pioneering force in Sri Lanka’s private banking sector while enabling access to high-value, landmark residential properties.