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Chevron Lubricants, Aitken Spence and Lanka IOC drive share market; turnover exceeds Rs. 5 billion

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By Hiran H.Senewiratne

The CSE gained over 1 per cent in mid-day trade yesterday pushed by Chevron Lubricants, Aitken Spence and Lanka IOC. The market remained extremely bullish yesterday too with mixed reactions in indices while the turnover exceeded the Rs 5 billion level. However, profit- takings were noted in certain blue-chip companies due to witnessing some down trend in certain companies, market analysts said.

Investors continue to focus on Lanka IOC stocks; which company dominated the country’s energy sector over the last two months. Consequently, its profitability also increased in leaps and bounds due to the heavy demand for fuel. Lanka IOC is to set up 50 filling stations and the approval has been granted by the Energy Ministry, which is also one of the reasons for the company’s share market to move up, stock market analysts said.

However, there was selling in most of the main counters of the CSE due to fears of unprecedented tax increases in the interim budget, a top market analyst said.

Further, Chevron Lubricants’ share prices also appreciated due to market speculation that the company is planning to enter the energy/fuel business with a Chinese company.

Amid those developments stock market indices reflected mixed reactions. The All- Share Price Index reached the 8500 points mark. It gained 77.03 points (0.91 per cent) to end at 8500 and S and P SL20 declined marginally by 9.49 points (0.34 per cent) to end the day at 2784.66.

Turnover stood at Rs 5.3 billion with four crossings. Those crossings were reported in Watawala Plantations, which crossed 4.6 million shares to the tune of Rs 403 million; its shares traded at Rs 87, Citizens Development Business Finance 1.1 million shares crossed for Rs 217 million, its shares traded at Rs 200, Commercial Bank 2.6 million shares crossed to the tune of Rs 145 million and its shares fetched Rs 54 and Hunas Falls 625,000 shares crossed to the tune of Rs 25 million; its shares traded at Rs 40.

In the retail market, top seven companies that mainly contributed to the turnover were, Lanka IOC Rs 1.9 million (14 million shares traded), Expolanka Holdings Rs 449 million (2.3 million shares traded), JKH Rs 252 million (2.1 million shares traded), LOLC Holdings Rs 135 million (226,000 shares traded), Browns Investments Rs 131 million (16.9 million shares traded), Chevron Lubricants Rs 130 million (one million shares traded) and LOLC Holdings Rs 88.5 million (9.8 million shares traded).

It is said that high net worth and institutional investor participation was noted in Melstacorp and Bairaha Farms. Mixed interest was observed in Lanka IOC, Expolanka Holdings and JKH, while retail interest was noted in Browns Investments, LOLC Finance and Agstar.

Energy sector was the top contributor to market turnover (due to Lanka IOC), while the sector index gained 15.15 per cent. Food, Beverage and Tobacco sector was the second highest contributor to the market turnover (due to Melstacorp).

Expolanka Holdings, JKH and LOLC Holdings were also included among the top turnover contributors. The share price of Expolanka Holdings lost Rs. 1.50 (0.73 per cent) to close at Rs. 203. The share price of JKH closed flat at Rs. 119.

Yesterday the Central Bank- announced US dollar buying rate was Rs 357.29 and its selling rate Rs 368.61.



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Priority areas for deepening Japan-SL economic ties

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Executive Committee for the Year 2026/2027

Japan Business Council (SLJBC) of The Ceylon Chamber of Commerce recently held its 47th AGM, with the Ambassador of Japan and the Patron of the Council, Akio ISOMATA, attending as the Chief Guest.

Addressing the gathering, Ambassador ISOMATA outlined three priorities for deepening bilateral economic relations: an effective and forward-looking trade and investment policy, the promotion of domestic industrial policy, and expanded investment in renewable energy. He noted that Sri Lanka’s ongoing review of its Free Trade Agreement policy would be important in shaping the country’s future negotiating landscape. He encouraged Sri Lanka to look Eastward toward Southeast Asia and Japan, proposing that the country adopt an export-oriented industrial model. The Ambassador welcomed the Government’s National Export Development Plan 2026 and National Mineral Policy 2026 as consistent with Japan’s vision of connecting Sri Lanka’s export-related manufacturing sectors with India’s high-growth manufacturing base.

In his address, President Athulla R F Edirisinghe reflected on nearly seven decades of humanitarian and development support extended by Japan to Sri Lanka, and paid tribute to the Chairman of the Sasakawa Peace Foundation Yohei Sasakawa, for his magnanimity in establishing the Foundation. Reflecting on the history of Japanese investment in the region from the 1970s onward, he observed that Sri Lanka had missed many opportunities to attract Japanese foreign direct investment. Highlighting the 2025 proposal for a Sri Lanka – Japan Economic Corridor by the Ministry of Economy, Trade, and Industry Japan, he called on Sri Lankan businesses, industry associations, and the wider community to come together in dialogue with the Government to ensure the country does not miss this opportunity as well.

2026/27 Committee: President: Athulla R F Edirisinghe – Director, Hirohama Ceylon (Pvt) Ltd, Senior Vice President – Ruwan Waidyaratne – Managing Director, Hayleys Advantis Ltd, Vice – President – Shamil Mendis – Managing Director, Spear International (Pvt) Ltd, Treasurer – Rohitha Mendis – Managing Director of Prudential Shipping Lines (Pte) Ltd, Immediate Past President – Mahen Kariyawasan – Managing Director, Andrew The Travel Company (Pvt) Ltd, representatives from Amano Lanka Engineering (Pvt) Ltd, BOV Capital (Pvt) Ltd, Brandix Apparel (Pvt) Ltd, Heritage Teas (Pvt) Ltd, Kalhari Enterprises (Pvt) Ltd, Lanka Harness (Pvt) Ltd, Dentsu Grant (Pvt) Ltd, MAC Holdings (Pvt) Ltd, and Vidullanka PLC. By invitation: HVA Foods PLC (subsidiary of George Steuart & Co), Spillburg Holdings (Pvt) Ltd, and Vaughan Chemicals (Pvt) Ltd.

The Sri Lanka – Japan Business Council plays an important role in promoting trade, tourism, and investments between Japan and Sri Lanka. For membership inquiries contact Kiyara at The Ceylon Chamber of Commerce via E-mail: businesscouncils1@chamber.lk or Tel.: 011 5588875/ 5588800.

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Rekawa turns turtle conservation into a 30-year community business model

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Stakeholders at 30th anniversary celebrations of the turtle conservation project.

By Ifham Nizam

What started 30 years ago as an effort to protect sea turtles has evolved into a community-based economic model that has generated livelihoods, attracted tourists and transformed Rekawa into one of Sri Lanka’s best-known nature tourism destinations.

The Rekawa Turtle Conservation Project, launched on September 2, 1996, by the Turtle Conservation Project (TCP) in partnership with the Department of Wildlife Conservation and the Rekawa community, marked its 30th anniversary last week, demonstrating how biodiversity protection can become an economic opportunity for communities living alongside sensitive natural resources.

Speaking at the anniversary celebrations, TCP chairman Thushan Kapurusinghe said the project currently provides direct livelihoods for 28 people, but its economic impact extends considerably beyond those directly employed by the programme.

‘Today, 28 people directly earn their livelihood through this project. But its impact goes far beyond those 28 individuals, Kapurusinghe said.

He pointed to the transformation of the area over the past three decades, arguing that the growth of tourism in the community has been closely linked to the turtle conservation programme.

‘If you travel from Netolpitiya to this area, you can clearly see how much the village has transformed over the years. There is no doubt that the growth of tourism in this community has been driven by the Turtle Conservation Project, he said.

The economic significance of Rekawa lies in its ability to convert the protection of a natural asset into a source of recurring community income.

Tourists do not come to Rekawa merely to see a beach. They come to witness sea turtles emerging from the ocean and nesting in their natural habitat—a tourism experience that depends directly on the continued protection of the nesting beach.

Kapurusinghe said tour operators regularly bring visitors to Rekawa, with some tourists traveling there after visiting major attractions such as the Kandy Esala Perahera.

The model represents a fundamental shift from viewing conservation as an expense to recognising biodiversity as an economic asset that can generate sustainable livelihoods when properly managed.

The 30th anniversary celebration at the Rekawa Turtle Conservation Project Information Centre brought together Southern Wildlife Region Director of the Department of Wildlife Conservation Channa Suraweera, government officials, conservation organisations, community representatives and long-standing supporters of the initiative.

Individuals who had contributed to the project over the past three decades were also recognised with awards for their service to sea turtle and environmental conservation.

Rekawa’s experience has attracted international attention because of precisely this combination of conservation and community development. The project has received international recognition as well as the Green Employment Award from the Ministry of Environment and Natural Resources. Earlier international recognition included a highly commended ‘Tourism for Tomorrow’ award, while the project’s turtle-watch programme subsequently received further recognition in responsible tourism and conservation.

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Ceylinco Life brings premium policyholders closer to the magic of the Kandy Perahera

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For an evening, the timeless spectacle of the Kandy Esala Perahera unfolded at especially close quarters for a select group of Ceylinco Life’s most valued policyholders and their families, who were hosted to an exclusive viewing experience by the Company’s Customer Relations Division.

Held at the Ceylinco Life Kandy Branch on Kings Street, the annual event coincided with the second Randoli Perahera, bringing guests into the heart of one of Sri Lanka’s most spectacular expressions of culture, tradition and pageantry.

As the procession made its majestic passage through the streets of Kandy, guests enjoyed VIP seating at a prime vantage point, allowing them to experience the colour, movement and grandeur of the Perahera up close. The evening offered a fitting setting for Ceylinco Life to celebrate its enduring relationships with its premium clientele.

The experience extended well beyond the spectacle outside. Guests were welcomed with evening refreshments and an exclusive dinner buffet presented by the prestigious Amaya Hills Resort, adding a fine-dining dimension to an already memorable evening.

Families, too, were at the centre of the occasion. A private movie theatre experience provided entertainment for children and adults alike, while each attending family received a beautifully framed family photograph as a personalised souvenir, a tangible reminder of an evening shared together against the backdrop of one of Sri Lanka’s most treasured cultural traditions.

Besides being a much sought-after opportunity to watch the Perahera, the occasion was an expression of appreciation. Through its continuing Customer Relationship Management activities, Ceylinco Life seeks to create experiences that recognise its most valued policyholders not simply as customers, but as relationships to be celebrated and nurtured. And on this particular August evening, the enduring splendour of the Kandy Perahera provided the perfect setting for doing just that.

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