Business
Flaws in debt restructuring slow down share trading
By Hiran H.Senewiratne
The stock market got off to a sluggish start yesterday because both local and foreign investors are worrying over certain flaws in the external debt restructuring exercise, stock market analysts said.
Due to deeply flawed operational frameworks, built on statistics rejecting classical economic principles and laws of nature, currencies of IMF dependent countries tend to depreciate permanently; nominal interest rates and inflation tend to be high, critics said.
Amid those developments both indices indicated mixed reactions. The All Share Price Index went up by 12.19 points while S and P SL20 rose by 2.7 points. Turnover stood at Rs 1.5 billion with six crossings. Those crossings were reported in Windforce, which crossed 22.5 million shares to the tune of Rs 439 million; its shares traded at Rs 19.50, Central Finance 1.9 million shares crossed for Rs 220 million and its shares traded at Rs 115, Hayleys 500,000 shares crossed for Rs 53.8 million; it shares sold at Rs 107.50, JKH 200,000 shares crossed for Rs 41.15 million; its shares traded at Rs 205.75, Sanasa Development Bank 1 million shares crossed to the tune of Rs 32 million; its shares sold at Rs 32 and HNB 100,000 shares crossed for Rs 20.6 million; its shares fetched Rs 206.
In the retail market top seven companies that mainly contributed to the turnover were; Hayleys Rs 167 million (1.6 million shares traded), JKH Rs 60 million (289,000 shares traded), Marawila Resorts Rs 50 million (11.5 million shares traded), Hemas Holdings Rs 44.7 million (525,000 shares traded), Sampath Bank Rs 34 million (428,000 shares traded), HNB (Non- Voting) Rs 30.8 million (189,000 shares traded) and Beruwala Resort Rs 30.6 million (10.9 million shares traded). During the day 75.2 million share volumes changed hands in 8488 transactions.
Yesterday the rupee was quoted at Rs 305.25/50 to the US dollar in early morning trade, steady from Rs 305.25/35 to the US dollar at the previous day’s close, while bonds were quoted wide, dealers said.
Bond market activity was somewhat muted after a rise in Treasury bill yields last week, dealers said.
Interest rates fell after a spike in un-sterilized liquidity from dollar purchases (strong side pegging), but the rupee comes under pressure due to lack of a complementary exchange rate policy to back the strong side pegging when liquidity is used up, analysts have said.
Excess liquidity is now down but the Central Bank is injecting some money overnight. Seven-day term money was injected below the overnight rate. At the moment private credit is still muted. A bond maturing on 01.06.2026 was quoted at 10.60/11.00 percent, indicative Wednesday, down from yesterday’s close of 10.75/11.05 percent. A bond maturing on 15.12.2026 was not quoted in morning trade. The bond closed at 10.65/11.05 percent Tuesday. A bond maturing on 15.10.2027 quoted at 10.70/11.10, marginally higher from 10.65/11.10 percent. A bond maturing on 15.03.2028 quoted at 11.25/50, marginally higher from 11.20/11.50 percent. A bond maturing on 15.09.2029 was quoted at 12.10/20, a little wider from 12.10/15 percent. A bond maturing on 01.12.2031 was quoted at 12.10/20, unchanged from 12.10/20 percent.
Business
Cross-border supply chains seen as key to new business opportunities
By Ifham Nizam
Australian High Commissioner to Sri Lanka Matthew Duckworth described Omega Traders’ latest investment in a modern dhal-processing facility as a strong example of how cross-border supply chains can translate into productive investment, local value addition and new business opportunities in Sri Lanka.
The investment, which adds a 150-metric-tonne-per-eight-hour-day processing capacity to Omega Traders’ operations, marks a significant expansion of the company’s manufacturing footprint as it celebrates 45 years in Sri Lanka’s food commodity industry.
Speaking at the inauguration of the new Lentil and Orid Dhal Processing Factory in Wattala, last Friday, H.C. Duckworth said the facility represented more than an increase in production capacity, pointing to the wider economic value created when Australian agricultural production is connected with Sri Lankan processing and distribution.
‘This facility is not operating on its own. It is part of a long supply chain and a trade partnership between Sri Lanka and Australia, Duckworth said.
His comments placed the Omega Traders’ investment within a broader commercial context: Australia brings agricultural production and established export capabilities, while Sri Lanka provides processing capacity, labour, market access and opportunities for further value addition.
The investment comes as Sri Lanka continues to look towards greater domestic processing and value-added manufacturing rather than relying solely on the import and distribution of finished commodities.
Dr. (Mrs.) Siddhika G. Senaratne, Director General/CEO of the Sri Lanka Standards Institution (SLSI), who attended the inauguration as Guest of Honour, highlighted the importance of quality assurance in food processing and the role of standards in maintaining confidence across the supply chain.
The facility is equipped with new-generation cleaning, processing, sorting and quality-control machinery, including advanced colour-sorting technology, automated systems and an in-house quality-control laboratory.
The additional capacity will support Omega Traders’ three principal Mysoor Dhal brands — Rainbow Jumbo Dhal, Komas Dhal and Rozanna Dhal — which serve different segments of the Sri Lankan market.
But the investment also has a distinctly local agricultural dimension.
Through its Orid Dhal operation, Omega Traders plans to source locally grown black matpe from Sri Lankan farmers and process it at the new facility.
That creates a domestic value chain linking farmers to industrial processing and consumers, while potentially increasing demand for locally produced agricultural commodities.
Duckworth said this type of business partnership could generate benefits for both countries.
‘Australia produces some of the world’s best agricultural products and we are very efficient and very capable at trading them. But that alone is not going to bring success to Australia. Just as building a factory like this is not going to bring success to Sri Lanka, he said.
‘It’s when we bring these entities together that our products produced in Australia can be processed in excellence here in Sri Lanka that enables this to be a success, the H.C. explained.
The investment therefore combines two complementary supply streams: imported agricultural commodities, including Australian-origin products, and locally produced black matpe for the Orid Dhal operation.
For Sri Lanka, the business significance extends beyond Omega Traders itself. Increased processing capacity creates demand for logistics, packaging, distribution, services and agricultural inputs, while supporting employment within the food-processing ecosystem.
Business
Ideal Motors makes history with multiple workplace excellence accolades
HR-led transformation places people, culture and business performance at the heart of the organisation
Ideal Motors (Pvt) Ltd,has achieved a significant milestone by securing multiple prestigious workplace and organisational culture accolades in 2026, reinforcing its position as an employer of choice in Sri Lanka’s automotive sector.
Among its latest achievements, Ideal Motors has been recognised as one of the 20 Great Workplaces for Young Talent in Sri Lanka 2026, ranked No. 1 and awarded the Gold Medal in the Small and Medium category of Best Workplaces™ in Sri Lanka 2026, and ranked No. 18 among Best Workplaces™ in Asia in the Medium Scale category—the highest-ranked Sri Lankan organisation in the category. The company also received Industry Excellence for Workplace Culture – Trading Industry.
The Young Talent recognition was presented at the Great Place To Work® CXO Forum 2026 held on 10 September 2026 at Cinnamon Life, Colombo. The recognition followed an evaluation of more than 100 certified organisations and highlights workplaces that create meaningful opportunities for employees under 35 to develop, contribute and grow.
At the Best Workplaces™ in Sri Lanka Awards Gala 2026, held on 11 September 2026 at Cinnamon Life, Colombo, Ideal Motors achieved another historic milestone by entering the Best Workplaces Sri Lanka list for the first time and securing the No. 1 Gold Medal in the Small and Medium category. The company also achieved No. 18 in Best Workplaces™ in Asia, reflecting the strength of its workplace culture beyond Sri Lanka.
These achievements represent more than a collection of awards. They reflect the transformation taking place within Ideal Motors, where people, culture and business performance are increasingly viewed as interconnected drivers of sustainable growth.
Over the past few years, the organisation’s HR function has evolved from a predominantly administrative role into a strategic business partner, with greater emphasis on employee experience, capability development, engagement, performance, communication, wellbeing, diversity and inclusion, and data-driven HR practices.
Business
AAC takes seat belt safety message to Colombo motorists
The Automobile Association of Ceylon (AAC) conducted a seat belt safety awareness programme in front of its headquarters and along Galle Face Centre Road, encouraging motorists and passengers to make seat belt use a habit on every journey.
AAC staff, working alongside officers of the Sri Lanka Police Traffic Division, distributed specially designed hanging tags and stickers to drivers. The material carries a clear reminder that seat belts protect drivers as well as passengers in both the front and rear seats.
The public awareness drive was held ahead of the requirement taking effect on 20 September 2026, under which seat belt use becomes mandatory for every occupant of a vehicle travelling on an expressway.
AAC emphasized that the regulation should be understood as a life-saving measure rather than only a legal obligation. Wearing a seat belt can help prevent occupants from being thrown inside or from a vehicle during a collision and can lessen the severity of injuries.
The Association said road safety legislation must be supported by sustained public education, visible enforcement and responsible behaviour by all road users. The participation of the Traffic Police helped the campaign reach motorists directly in a busy part of central Colombo.
-
News6 days agoUS embassy won’t comment on IGP’s probe into joint drug raid
-
News4 days agoShanakiyan urges urgent action over reported death sentence for Lankan in Saudi Arabia
-
News5 days agoBid for Basil’s extradition nears final stage: Police
-
Business6 days agoAll-new Bolero MaXX unveiled in Sri Lanka
-
News3 days agoNamal Rajapaksa Buddhist gambit fails, bail denied
-
Opinion6 days agoA journalist who wrote across the divide
-
Editorial7 days agoMore fuel price shocks shrouded in secrecy
-
Features3 days agoWhy the spelling Sri Lankan names in English vary
