Business
Fabric Park in Punnakuda to save USD 500 million outflow on apparel raw materials
The Fabric Park in Punnakuda, Batticaloa will strengthen import substitutes for the apparel industry and save US $ 500 million annually for Sri Lanka, says Board of Investment Chairman Raja Edirisuriya.BOI Chairman further said: ” This is the largest development project in the Eastern Province worth Rs. 5.5 bn on infrastructure and other facilities. Four leading garment manufacturing companies are willing to invest in the project.”
“Sri Lanka annually spends the US$ 6 bn on raw materials needed for textile manufacturing. With this Textile Park, raw materials worth the US$ 500 million can be manufactured.”
“At least 5,000 job opportunities would be created and the park has been designed using the latest technology and environmentally friendly manner.”
“Sri Lanka is a county that has garnered immense acclaim and a strong reputation worldwide for manufacturing high-quality apparel trusted by the iconic global fashion brands. Sri Lanka annually imports textile raw materials used in the apparel industry worth US $6 bn from different countries around the globe. Taking this into account, the attention of the Board of Investment (BOI) was drawn to set up the Textile Park in Punnakuda, Batticaloa with the intention of manufacturing textile raw materials on the Island itself,”
“The Park which is a 255-acre land is equipped with all facilities and the potential to establish eight to ten large-scale factory complexes. Furthermore, the Textile Park can be named the largest development project being undertaken in the Eastern Province.”
“In addition, the Government is to spend a sum of Rs. 5.5 billion on the development of infrastructure facilities in the project which will eventually boost infrastructure facilities in the area.”
Business
CDS rings market opening bell to mark 35 years
Central Depository Systems (Pvt) Ltd (CDS), a wholly owned subsidiary of the Colombo Stock Exchange (CSE), commemorated its 35th anniversary by ringing the market opening bell at the Colombo Stock Exchange last week, marking three and a half decades of supporting the growth and development of Sri Lanka’s capital market infrastructure.
The ceremony brought together members of the CDS and CSE Boards, and former leaders of the institution to celebrate CDS’s journey since its establishment in 1991 as South Asia’s first Central Securities Depository and the seventh of its kind globally.
Delivering the welcome remarks, Head of CDS, Nadeera Athukorale, remarked “For thirty-five years, the story of CDS has been one of continuous commitment, continuous improvement, and continuous dedication – powering trust, enabling progress, and shaping the future. Generations of employees have carried that torch forward.”
Chief Market Operations Officer of CSE Chandrakanth Jayasinghe remarked upon the anniversary and the role of CDS in Sri Lanka’s capital market stating, “Thirty-five years of achievement have positioned CDS as a cornerstone of market infrastructure, enabling seamless post-trade operations and supporting long-term market development.”
Chairman of CDS, Ray Abeywardena, in his keynote address, reflected on the bold leap forward represented by the establishment of CDS and the transition to a scripless system, while highlighting the institution’s enduring role in Sri Lanka’s capital market infrastructure. Emphasizing the significance of CDS, he stated, “CDS is considered the backbone of the CSE and provides an invaluable service. It is far more than a mere technology platform; it is an institution of trust and integrity. It safeguards the integrity of ownership and commands the highest levels of trust and confidence of all stakeholders. It also ensures efficiency, strong governance, transparency, accountability and resilience throughout its 35 years of unwavering service.”
Business
Sri Lanka – Canada Business Council strengthens bilateral business relations
The Sri Lanka–Canada Business Council of The Ceylon Chamber of Commerce recently convened its 35th Annual General Meeting (AGM) at the Ceylon Chamber of Commerce, bringing together Council members, office bearers and distinguished stakeholders to review the Council’s activities during the past year and set its direction for the year ahead.
The AGM was attended by Isabelle Martin, High Commissioner of Canada to Sri Lanka and Maldives, together with members of the Council, office bearers and distinguished invitees.
At the AGM, Mohamad Hameez, Managing Director of Spillburg Holdings (Pvt) Ltd, was re-elected as President of the Council for the 2026/2027 term. M. Irshad Razack, Managing Director of Global Academy of Further Education, was re-elected as Senior Vice President, while Pemith Paaris, Associate Vice President of Acentura Inc., was appointed Vice President. Hiran De Silva of the Asian Institute of Business and Science (Pvt) Ltd was re-elected as Treasurer.
The Executive Committee for 2026/2027 was also appointed, comprising representatives from Aitken Spence Travels (Pvt) Ltd, Aspect Trading (Pvt) Ltd, BOV Capital (Pvt) Ltd, ECD Holidays (Pvt) Ltd, Fab Foods (Pvt) Ltd, Hatton National Bank PLC, Maliban Biscuit Manufactories (Pvt) Ltd, Marlbo Trading Company, MWAY (Pvt) Ltd, and Ningbo Marketing Company (Pvt) Ltd.
The post-business session featured an address by Isabelle Martin, who emphasised the importance of continued engagement and cooperation between the business communities of Sri Lanka and Canada.
Business
CSE ends lower on oil price fears, turnover at Rs. 972 million
The current tension in the Middle East, which has pushed crude oil prices close to US$100 per barrel, led to a disappointing trading day at the Colombo Stock Exchange (CSE) yesterday, market analysts said.
Amid those developments, both indices moved downward. The All Share Price Index declined by 76.23 points, while the S&P SL20 fell by 13.62 points. Turnover stood at Rs 972 million, with five crossings.
These crossings were reported in DIMO (38,000 shares crossed to the tune of Rs 57 million, traded at Rs 1,498), Access Engineering (700,000 shares crossed to the tune of Rs 56 million, traded at Rs 80), JKH (1.5 million shares crossed to the tune of Rs 29 million, traded at Rs 19.40), Sierra Cables (650,000 shares crossed to the tune of Rs 23 million, traded at Rs 35.50), and CDB (650,000 shares crossed to the tune of Rs 23 million, traded at Rs 35).
In the retail market, the top seven companies that mainly contributed to turnover were Access Engineering (Rs 72 million, 904,000 shares traded), Sampath Bank (Rs 51 million, 364,000 shares traded), Royal Ceramics (Rs 44 million, 899,000 shares traded), Overseas Realities (Rs 41 million, 771,000 shares traded), Haycarb (Rs 41 million, 205,000 shares traded), Sarvodaya Developments Finance (Rs 32 million, 776,000 shares traded), and Commercial Bank (Rs 31 million, 151,000 shares traded). During the day, 43 million shares changed hands in 13,152 transactions.
Analysts said a mixed market reaction was noted during the day. However, the manufacturing sector – particularly JKH and Hayleys stocks – performed significantly well. Banking sector counters, especially Sampath Bank, also performed well.
Meanwhile, analysts noted that Lake House Printers & Publishers announced a first and final dividend of Rs 4.00 per share for the financial year 2025/2026, subject to shareholder approval at its Annual General Meeting on September 30, 2026. The XD date has been set for October 1, 2026. Shares of Lake House Printers & Publishers were trading up 5.68% at Rs 679.50.
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