Business
Share market buoyed as Browns Power Holdings buys FLMC Plantations
Browns Power Holdings, a subsidiary of Browns Investments, has bought FLMC Plantations, the holding company of Pussellawa Plantations and Melfort Green Teas, for Rs 4.8 billion.
The company executed a share sale and purchase agreement May 5 with Damro Manufacturing and Piyestra Furniture acting as the sellers, CSE sources said
“With this acquisition BIL Group will significantly expand its plantation footprint, complementing its existing operations under Maturata Plantations Limited, Udapussellawa Plantations PLC, Hapugastenne Plantations PLC and the recently acquired Tea Smallholder Factories PLC, informed sources added.
Pussellawa Plantations manages over 11,500 hectares across 24 estates comprising approximately 5,400 hectares of tea, 5,900 hectares of rubber and 200 hectares of minor crops.
Amid those developments CSE indicated positive sentiments over half day’s trading. Both indices moved upwards. All Share Price Index was up by 65.19 points while S and P SL20 rose by 14.83.
Turnover stood at Rs 1.49 billion with three crossings. Those crossings were reported in HNB, which crossed 300,000 shares to the tune of Rs 87.7 million, Dialog six million shares crossed to the tune of Rs 88 million; its shares traded at Rs 14.50 and VallibelOne 350,000 shares crossed for Rs 23.6 million and its shares sold at Rs 67.50.
in the retail market top six companies that have mainly contributed to the turnover were, CTC Rs 149 million (110,000 shares traded), Brown’s Investments Rs78 million (9.8 million shares traded), Kotagala Plantations Rs 74 million (seven million shares traded), Distilleries Rs 60 million (1.5 million shares traded), HNB Rs 56 million (193,000 shares traded) and RIL Properties Rs 55 million (3.3 million shares traded). During the day 64.8 million shares volumes changed hands in 11810 transactions.
It is said that the banking and finance sector led the market while services and plantations sectors too performed well.
Yesterday day, the rupee opened broadly unchanged at Rs 299.45/50 to the US dollar in the spot market, against the previous day’s close of Rs 299.48/50, dealers said, while bond yields were steady.
A bond maturing on 15.09.2027 was quoted at 9.30/40 percent. A bond maturing on 01.05.2028 was quoted at 9.84/87 percent. A bond maturing on 15.10.2028 was quoted at 9.90/95 percent, up from 9.88/95 percent. A bond maturing on 15.06.2029 was quoted at 10.15/20 percent. A bond maturing on 15.12.2029 was quoted at 10.28/30 percent, up from 10.25/30 percent. A bond maturing on 15.03.2031 was quoted at 10.70/75 percent, up from 10.68/74 percent.
By Hiran H Senewiratne
Business
HNB Finance bags 2 CMA Reporting Awards 2025
HNB Finance PLC has been honoured with two prestigious accolades at the CMA Excellence in Integrated Reporting Awards 2025, reaffirming the company’s commitment to transparency, good governance, and integrated business performance.
At this year’s ceremony, HNB Finance PLC was awarded Second Runner Up – joint in the category of “Best Integrated Report , Finance and Leasing Sector”, and also received a Merit Award in recognition of its continued efforts to enhance reporting quality and strengthen stakeholder communication.
The CMA Excellence in Integrated Reporting Awards, organised annually by the Institute of Certified Management Accountants (CMA) of Sri Lanka, acknowledge organisations that demonstrate superior financial reporting standards aligned with global best practices. Winners are assessed on key criteria such as financial performance and strategic management, corporate governance and compliance, innovation and digital transformation, sustainability practices, and professional excellence.
Chaminda Prabhath, Managing Director/CEO of HNB Finance PLC, commented on the recognition, “These awards reaffirm our commitment to upholding the highest standards of integrated reporting and transparent financial disclosure. At HNB Finance, we remain focused on delivering sustainable long-term value through robust governance frameworks, prudent financial management, and continuous innovation. The acknowledgement by CMA Sri Lanka reflects the disciplined efforts of our teams across the organization and motivates us to further enhance our reporting quality, strengthen ESG integration, and reinforce our stakeholder centric approach.”
Business
ComBank joins ‘Liya Shakthi’ scheme to further empower women-led enterprises
The Commercial Bank of Ceylon has reaffirmed its long-standing commitment to advancing women’s empowerment and financial inclusion, by partnering with the National Credit Guarantee Institution Limited (NCGIL) as a Participating Shareholder Institution (PSI) in the newly introduced ‘Liya Shakthi’ credit guarantee scheme, designed to support women-led enterprises across Sri Lanka.
The operational launch of the scheme was marked by the handover of the first loan registration at Commercial Bank’s Head Office recently, symbolising a key step in broadening access to finance for women entrepreneurs.
Representing Commercial Bank at the event were Mithila Shyamini, Assistant General Manager – Personal Banking, Malika De Silva, Senior Manager – Development Credit Department, and Chathura Dilshan, Executive Officer of the Department. The National Credit Guarantee Institution was represented by Jude Fernando, Chief Executive Officer, and Eranjana Chandradasa, Manager-Guarantee Administration.
‘Liya Shakthi’ is a credit guarantee product introduced by the NCGIL to facilitate greater access to financing for women-led Micro, Small, and Medium Enterprises (MSMEs) that possess viable business models and sound repayment capacity but lack adequate collateral to secure traditional bank loans. Through NCGIL’s credit guarantee mechanism, Commercial Bank will be able to extend credit to a wider segment of women entrepreneurs, furthering its mission to drive inclusive economic growth.
Business
Prima Group Sri Lanka supports national flood relief efforts with over Rs. 300 Mn in dry rations
Prima Group Sri Lanka has pledged assistance valued at over Rs. 300 million, providing essential Prima food products to support communities affected by the recent floods across the island. This relief initiative is being coordinated through the Ministry of Defence to ensure the timely and effective distribution of aid to impacted families.
As part of this commitment, Prima Group Sri Lanka donated a significant stock of Prima dry rations to the Government of Sri Lanka on 30 November. The consignment will be distributed across multiple severely impacted districts. These supplies will support families facing disruptions to daily life, ensuring they receive assistance as recovery efforts continue.
The handover took place at the Ministry, where the donation was received by the Secretary of Defence, Air Vice Marshal (Retired) Sampath Thuyacontha. Representing Prima Group Sri Lanka, Sajith Gunaratne – General Manager of Ceylon Agro Industries Limited, and Sanjeeva Perera – General Manager of Ceylon Grain Elevators PLC, officially presented the donation.
Prima Group has been standing with the people of Sri Lanka for over 40 years, and this donation reflects its broader commitment to the nation during challenging times. As relief operations continue across the island, the company remains focused on helping families rebuild their lives and supporting the ongoing recovery process in collaboration with the Government Authorities.
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