Business
Profit-takings by foreign investors dampen CSE trading
By Hiran H.Senewiratne
CSE trading activities registered some negative performances at the beginning of sessions yesterday due to profit takings, especially by foreign investors. Foreign investors had panicked over stock market trends mainly due to foreign media highlighting that Sri Lanka had declared a food emergency with the worsening of the foreign currency reserve position of the country, stock market analysts said.
Last Friday the net foreign outflow was Rs. 1.5 billion, out of which Rs. 1.3 billion was from Hemas Holdings. However, yesterday too foreign outflows were noted. Under these circumstances a Rs. 50 billion net foreign outflow has been reported to date in the stock market, analysts said.
The main causes for the increasing foreign outflow are the depreciation of the rupee against the dollar and the worsening of the foreign reserve crisis, which created a gloomy picture of the market, analysts explained.
Amid those developments both indices moved downwards. The All Share Price Index went down by 80.65 points and S and P SL20 declined by 39.53 points. Turnover stood at Rs. 7.7 billion with one crossing. That crossing was reported in Sunshine Holdings Ltd, which crossed four million shares to the tune of Rs. 102 million, its shares traded at Rs. 25.50.
In the retail market, five companies that mainly contributed to the turnover were, Expolanka Holdings Rs. 2.3 billion (12.5 million shares traded), Browns Investments Rs. 1.14 billion (103.6 million shares traded), Hemas Holdings Rs. 911 million (12.5 million shares traded), LOLC Holdings Rs. 424 million (692,000 shares traded) and Kotagala Plantations Rs. 235 million (41.9 million shares traded).
Kotagala Plantations rights were listed yesterday. Under this right issue 263 million shares will be issued to raise Rs. 789 million. The ratio of the right issue was seven new shares for every two existing shares for shareholders. During the day 874 million share volumes changed hands in 47000 transactions.
Proving that investing in shares is becoming broad-based as opposed to the misconception of being “limited to a few”, the number of accounts has seen a 55 percent increase between 2010 and June 2021 while trading volumes have grown at a higher pace in tandem with improved sentiment.
The number of Central Depository System (CDS) accounts as of end June 2021 was 659,578 (excluding multiple registrations), up 55.4% from 424,288 in 2010 and by 14% in 2014. These two years saw significant bull runs.
The number of local companies having CDS Accounts has risen by 85 percent between 2010 and June 2021 from 6,114 to 11,294. Even between 2014 and 2021 June, the growth in companies at 31per cent is higher (though from a low base) as opposed to individuals.
More foreign companies have also registered to invest in Sri Lanka, from 3,893 in 2010 and 4,705 in 2014 to 5,718 in 2021 YTD.
Business
Malaysia courts more Sri Lankan travelers as ‘Visit Malaysia 2026’ gathers steam
Malaysia is intensifying efforts to attract more Sri Lankan travelers by promoting its diverse tourism offerings, strong air connectivity, Muslim-friendly facilities and expanding business partnerships ahead of the ‘Visit Malaysia 2026’ (VMY2026) campaign.
Addressing the Tourism Malaysia product presentation yesterday in Colombo, Malaysian High Commissioner to Sri Lanka Badli Hisham Adam said tourism remains one of the strongest pillars of the long-standing bilateral relationship between Malaysia and Sri Lanka, helping strengthen cultural understanding, business links and people-to-people ties.
The event, organised by Tourism Malaysia Chennai in collaboration with the High Commission of Malaysia in Colombo, brought together Malaysian tourism stakeholders, airline representatives, Sri Lankan travel industry professionals and members of the media to explore new business opportunities.
The High Commissioner said Sri Lanka continues to be an important source market for Malaysia, with growing numbers of Sri Lankan travelers seeking destinations that combine diversity, affordability, quality experiences and convenient connectivity.
“As part of ‘Visit Malaysia 2026’, we warmly invite Sri Lankan travelers to discover the richness of Malaysia, he said.
Highlighting Malaysia’s tourism strengths, the envoy said the country offers a wide range of attractions, including multicultural cities, UNESCO World Heritage Sites, pristine beaches, tropical rainforests, cool highlands and unique wildlife.
These are complemented by world-class shopping, family-friendly attractions, educational opportunities, wellness and medical tourism, business events and internationally renowned hospitality.
He also stressed Malaysia’s position as the world’s leading Muslim-friendly destination, supported by an extensive halal ecosystem with internationally recognised certification, halal-certified restaurants, easily accessible prayer facilities and family-oriented amenities across the country.
Despite ongoing geopolitical uncertainties around the world, the High Commissioner said Malaysia remains a stable, peaceful and welcoming destination for international travelers.
He urged Sri Lankan travel agents to strengthen collaboration with Malaysian tourism providers by developing innovative travel packages targeting leisure travelers, business visitors and event participants.
The presentation featured leading Malaysian tourism partners, including Wyndham Ion Majestic, Lotus Desaru, Key Term Holidays representing the Sabah Tourism Board and Asian Overland representing The PULSE Group, showcasing Malaysia’s diverse tourism experiences and investment in the Sri Lankan market.
The envoy also acknowledged the contribution of airline partners and the media in enhancing Malaysia’s visibility and improving travel connectivity between the two countries.
Looking ahead to ‘Visit Malaysia 2026’, he said the future growth of tourism would depend on stronger collaboration, innovation and meaningful partnerships between industry stakeholders.
He expressed confidence that closer cooperation between Malaysia and Sri Lanka would generate fresh business opportunities while encouraging more Sri Lankan visitors to experience Malaysia’s culture, diversity and hospitality.
The High Commissioner concluded by expressing hope that the networking session would lead to stronger commercial partnerships and contribute to the success of ‘Visit Malaysia 2026’, further deepening tourism and economic ties between the two friendly nations.
By Ifham Nizam
Business
Women Empowered Global launches ‘Leadership Lab’
Women Empowered Global (WEG), a network of award‑winning female leaders, corporate CXOs and entrepreneurs, experts and thought leaders dedicated to empowering women from six continents, unveiled the ‘WEG Leadership Lab’, a 24‑week virtual intensive programme, commencing 26 September. The programme is designed exclusively for women leaders who are ready to accelerate their careers, amplify leadership visibility, and drive transformational growth.
The women‑only leadership experience breaks the mould of conventional training, offering a powerful blend of masterclasses, mentorship, and practical leadership tools tailored for rising leaders, managers, and senior professionals. Participants will gain international exposure, sharpen essential skills, and the opportunity to join a vibrant knowledge‑sharing community which fosters confidence, resilience, and impact.
“The WEG Leadership Lab is not for casual growth. It is for women who are serious about transforming their leadership journey,” said Senela Jayasuriya, Founder/CEO, Women Empowered Global. “By combining global expertise with local delivery, we are creating pathways for women across manufacturing, trading, finance, marketing, technology, and management, as entrepreneurs, business owners, fractional executives, or corporate leaders, to thrive and build a more inclusive leadership landscape.”
WEG’s platform facilitates international exposure and career development for professionals and connects more than 4,000 members worldwide. The Leadership Lab builds on WEG’s flagship initiatives, including the 1 Million Women in Power campaign, the African Women Leadership Forum, the Business Hub, and the Global Online Academy. The programme aims to deliver a transformative journey equipping women to step boldly into leadership roles locally and internationally.
Led by Senela Jayasuriya (MBA, UK), an internationally recognized and awarded leadership & empowerment coach and innovation partner, keynote speaker, and certified expert, WEG collaborates with DEI specialists, corporate boards, Business and HR leaders, to design programmes which advance women’s careers, leadership visibility, equity, and inclusion. To date, she has successfully delivered leadership development programmes to more than 20,000 professionals.
Business
JKCG Auto and Green EV join forces to build Sri Lanka’s most expansive EV charging network
John Keells CG Auto (JKCG Auto), the authorised distributor of BYD and Denza in Sri Lanka, has launched a strategic partnership with Green EV on 26th June 2026 to significantly expand the charging infrastructure available to its customers across the island. The collaboration, formalised through a Memorandum of Understanding (MOU), marks a pivotal step in JKCG Auto’s ongoing commitment to building a comprehensive and reliable New Energy Vehicle (NEV) ecosystem in Sri Lanka.
Through this partnership, BYD and Denza owners will gain seamless access to Green EV’s public charging network of 100+ DC fast chargers and 70 AC chargers, spanning 20 districts and all nine provinces of Sri Lanka, from Jaffna in the north to Hambantota in the south, and from Puttalam on the northwest coast to Trincomalee and Ampara on the eastern seaboard, encompassing a mix of 40kW, 60kW, and 120kW fast-charging infrastructure. The network has been designed to ensure that customers can charge conveniently and confidently, whether in the heart of Colombo or in suburban and outstation communities, removing one of the most commonly cited barriers to EV adoption in Sri Lanka. Further strengthening customer confidence, Green EV has partnered with SLIC to provide a comprehensive insurance cover of LKR 100 million for every Green EV charging station, offering protection against potential damages and ensuring complete peace of mind for every user.
The initiative reflects JKCG Auto’s broader strategy to invest in the foundations of sustainable mobility, ensuring that the transition to electric vehicles is supported not only by world-class vehicles, but by a dependable ecosystem that addresses the practical needs of everyday ownership.
“If the future of mobility in Sri Lanka is going to be electric, success will hinge on how accessible we are able to make the actual vehicles, as well as the enabling infrastructure around them. JKCG Auto is proud to partner with other visionaries like Green EV to ensure that we eliminate range anxiety, so that every customer – whether in Colombo or anywhere in Sri Lanka will have the confidence to go electric,” JKCG Auto Chief Executive Officer, Charith Panditharatne.
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