Business
Boost for for-ex strapped SL as Malaysian investor buys controlling stake in Ramboda Falls
By Hiran H.Senewiratne
A high net-worth Malaysian investor recently purchased a controlling 52 per cent stake in Ramboda Falls PLC for a consideration of Rs. 279 million giving a boost to forex-strapped Sri Lanka via the CSE, market analysts said.The investor Yeoh Kim Leng bought 10.40 million shares at Rs. 26.80 each via a crossing. Sellers were founder shareholders L.S. Sigera and I.J.A. Karunarathna in equal quantities of 5.2 million shares (26 per cent) each.Post-deal the Ramboda Falls share price gained by 54 per cent or Rs. 8.20 to close at Rs. 23.40. Last week the share figured among top losers, down by 16.5 per cent to Rs. 13.70. The foreign acquisition was carried out at a premium of 76.3 per cent compared to yesterday’s closing price. The buying side was Almas Group’s new subsidiary Assetline Securities, in a major deal under the new ownership, and the selling side advisory was by investment banking firm Atarah Capital Partners.
Amid those developments, stock market indices reversed their early gains after mid- day trading as investors wanted some positive news. But the stock market reacted negatively in relation to high interest rates, imposition of a new tax regime and the anticipated food shortage in the coming months.However, bullish on the prospects for the export apparel sector, Browns Group is investing Rs. 15.3 billion to put up the country’s most modern and the largest textiles plant in the Kurunegala District.The Board of Investment (BOI) agreement to this effect was signed recently between Brown and Company PLC Group CEO T. Sanakan and BOI Director General Renuka Weerakone. This move would not change the mind- set of investors, stock market analysts said
“There is nothing to boost the sentiment. Higher interest rate is the main reason for the market fall,” a stockbroker said. Consequently, the main All- Share Price Index was down 44.74.62 points, while the most liquid S&P SL20 slipped 25.16 points. Turnover stood at Rs 1.31 billion with two crossings. Those crossings were reported in Windforce, which crossed 29.4 million shares to the tune of Rs 462 million and its shares traded at Rs 15.70 and Sampath Bank 3.07 million shares crossed to the tune of Rs 110.5 million; its shares traded at Rs 36.
In the retail market top seven companies that mainly contributed to the turnover were; Browns Investments Rs 136.2 million (14.05 million shares traded), Lanka IOC Rs 116.7 million (1.8 million shares traded), Expolanka Rs 106 million (497,000 shares traded), LOLC Finance Rs 37.9 million (4.4 million shares traded), TJLanka Rs 16.2 million (394,000 shares traded), LOLC Holdings Rs 14.3 million (24,100 shares traded) and Tokyo Cement Rs 12.7 million (491,000 shares traded). During the day 80.7 million share volumes changed hands in 11177 transactions.Mixed interest was observed in Expolanka Holdings, Lanka IOC and Hela Apparel Holdings Ltd., while retail interest was noted in Browns Investments, Dialog Axiata and LOLC Finance. Yesterday the US dollar rate was quoted at Rs 365.09, which was the Central Bank announced rate.
Business
DevPro and WCIC come together to accelerate women’s economic empowerment in Sri Lanka
DevPro and Women’s Chamber of Industry and Commerce (WCIC) signed a formal partnership on Wednesday, 28th January to collaborate in promoting women’s economic empowerment and inclusion in Sri Lanka.
DevPro builds on 30 years of OXFAMs legacy in Sri Lanka and works towards Inclusive Economic Development leveraging expertise in inclusive and climate-resilient market systems and enterprise development and innovation. DevPro’s work is guided by the core values of gender justice, inclusivity and community-led development. Through its recent projects, DevPro has supported over 270 women-led MSMEs, across agriculture, handloom, and tourism-related value chains in five provinces in Sri Lanka through a mix of interventions combining skills development, enterprise strengthening, market linkages, and gender-sensitive community engagement to improve income, resilience, and economic participation.
WCIC is the first women-only trade chamber in the world, dedicated to empowering women entrepreneurs and women-led MSMEs in Sri Lanka through skills-building, business advisory services, networking etc. Among its many initiatives, WCIC’s flagship annual event, “Prathibhabhisheka” – Women’s Entrepreneurs Awards has empowered many women owned and women-led businesses in Sri Lanka to enhance their business resilience and competitiveness through improved governance processes, financial health, market recognition and global expansion.
Through this partnership, both DevPro and WCIC, will leverage their collective expertise, networks and resources to advance women’s economic empowerment and inclusion through projects, capacity building, research and policy advocacy focused on women entrepreneurship development, innovative business models, sustainability certification and credentials, export readiness and market integration and financial literacy and inclusion.
The MoU was signed by Gayani de Alwis, Chairperson of WCIC and Chamindry Saparamadu, Executive Director of DevPro in the presence of senior members of both teams.
Business
FRELLA launches world class wellness products locally with Baurs & Co.
FRELLA, Sri Lankan-born and internationally-respected natural beauty and wellness brand, is setting the stage to expand operations by entering the Sri Lankan retail market. As the country’s only dedicated wellness company operating at an international scale, this move marks a new chapter for a brand with a growing global presence that has already earned the trust of luxury hotels and international customers.
For over seven years, FRELLA has emerged as Sri Lanka’s leading wellness brand, serving clients and partners across more than 15 international markets. The brand’s entry into the Sri Lankan retail market marks a significant milestone, allowing local consumers to access globally respected wellness products developed from the island’s own healing traditions. This retail expansion is supported through a strategic partnership with Baurs, a trusted 170-year-old Swedish multinational company, ensuring sophisticated distribution and access aligned with international retail standards.
FRELLA is rooted in Sri Lanka’s ancient healing traditions and inspired by centuries-old Ayurvedic wisdom. All FRELLA products are specially designed as holistic wellness solutions for the body, skin, hair, and soul, and focuses on providing nourishment, balance, and healthy aging through refined, modern wellness systems.
Business
Writer Business Services enters Sri Lanka to partner with institutions to provide information management and payments solutions
Writer Corporation, one of India’s leading business groups, announced the launch of its subsidiary, Writer Business Services Pvt. Ltd., and the commencement of its operations in Sri Lanka. The expansion reflects Sri Lanka’s strategic importance in Writer’s regional growth plans and its role in supporting a highly regulated digital and financial services market which is currently undergoing digital transformation.
Sri Lanka’s continued focus on strengthening regulatory frameworks, digital platforms, and financial systems is shaping how institutions across banking, government, and enterprise sectors approach their business operations. There is a clear emphasis on secure, compliant, and resilient information and transaction environments that can scale with regulatory and business needs. Writer’s entry into Sri Lanka aligns with this direction, bringing global experience and a partnership-led approach to the market.
As part of its launch, Writer will establish a secure records and information storage facility in Seeduwa, Colombo. Designed to meet global standards for security, compliance, and disaster resilience, the facility will support banks, financial institutions, government bodies, and large enterprises in managing physical and digital information across its lifecycle.
Alongside information management, Writer brings established expertise in integrated payment services to support the modernization of transaction infrastructure across the banking and financial services sector. Its payments capabilities focus on strengthening availability, transaction continuity, and transparency across critical payment channels that underpin institutional reliability and customer confidence.
Writer’s digital payments offerings in Sri Lanka include end-to-end ATM and self-service terminal outsourcing, integrated channel ownership and managed services, field management applications, payment and reconciliation platforms, and remote monitoring with near real-time reporting. These solutions support financial institutions in improving uptime, strengthening governance, and enhancing operational efficiency across payment networks, in line with the continued evolution of electronic and automated payment systems.
Across information management and payments, Writer operates with an integrated portfolio spanning records and information management, business process outsourcing, cloud and digital services, data privacy, cybersecurity and enterprise payments infrastructure. These capabilities support institutions in addressing evolving regulatory requirements, digitization of legacy environments, and rising operational and cyber risks.
Writer’s local presence enables closer collaboration with clients and on-ground delivery, while supporting the development of Centres of Excellence across cybersecurity operations, SOC and NOC services, AI-led solutions, and payments operations and monitoring.
Writer’s Sri Lanka operations will be built, led, and run by Sri Lankan professionals, reflecting a long-term commitment to local talent growth and development.
Commenting on this development, Satyamohan Yanambaka, CEO, Writer Global Services Pvt. Ltd., assured Writer’s long-term commitment to the country’s digital ambitions. He said, “Writer’s entry into Sri Lanka reflects our belief that digital ambition in regulated environments must be supported by trust, sound governance, and strong execution. As institutions scale digital services, the reliability of information and payment systems, channel operations, and governance frameworks becomes increasingly important to public and institutional confidence. Our experience across information management, digital transformation, and enterprise payments enables us to support secure, large-scale financial ecosystems, with a clear commitment to building and leading these capabilities locally.”
Sri Lanka’s Digital Personal Data Protection framework raises expectations around how personal and sensitive information is secured and governed.
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