Connect with us

Business

Bourse indices decline in the wake of policy uncertainties

Published

on

By Hiran H.Senewiratne 

The CSE yesterday evinced some negative sentiments despite the CSE withdrawing  a ‘contentious’ circular issued in January 2021. This was followed by a clarification in early February that market regulators should report investors’ credit position, market analysts said.

The withdrawal came into effect as a result of stockbroker firms making representations with regard to system limitations and practical constraints regarding the submission of certain information required by circulars bearing number 06-1-2021 dated January 29, 2021 and 01-02-2021 dated February 1, 2021, issued by the CSE. 

The market was bullish last morning and touched 7467 or 170 points and later the market witnessed profit taking but it began to decline. The previous  day market sentiment was positive because of the Chinese loan facility reported  in a Chinese government bank twitter. But yesterday’s market decline began because of news that the Chinese loan is still in its discussion stages. Moreover,  the government’s inconsistent policies also added insult to injury, market analysts said.

Amid those developments both indices moved downwards. All Share Price Index went down by 21.55 points and S and P SL20 declined by 3.91 points. The turnover stood at Rs. 2.8 billion without a crossing.

In the retail market, top five contributors to the turnover were, Dipped Products Rs. 435.6 million (8.3 million shares traded), Expolanka Rs. 337.3 million (seven million shares traded), LOLC Rs. 283.5 million (845,000 shares traded), Vallibel One Rs. 214.3 million (3.9 million shares traded), Browns Investment Rs. 214.3 million (3.9 million shares traded). During the day, 143.9 million share volumes changed hands in 25949 transactions.

Seylan Bank PLC  had decided to go ahead with the previously announced listed BASEL III compliant debenture issue though with few changes. Originally, Seylan in July last year announced a listed debenture worth Rs. 10 billion, upon over subscription of Rs. 5 billion initially, Rs. 3 billion thereafter and Rs. 2 billion finally. It was to be via senior unsecured listed rated redeemable debentures and BASEL III compliant, Tier II, listed, rated, unsecured, subordinated redeemable debentures with a Non-Viability Conversion (to be issued as subordinated debt of the Bank). Having obtained shareholder approval, the bank in November announced to defer the move considering the prevailing market conditions subject to review in the first quarter of 2021. The Seylan Board last week passed a resolution to proceed with the issue subject to certain changes to the type and quantum of debentures.

Sri Lanka’s rupee quoted steady at 197.00/197.50 levels to the US dollar in the one-week forwards market on Tuesday, while bond yields remained unchanged, dealers said. The rupee last closed in the one- week forward market at 197.50/198.00 to the dollar on Monday.

In the secondary market bond yields were unchanged while the overall market witnessed dull activity, dealers said.



Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

APHNH aims to make Sri Lanka more competitive for healthcare investment

Published

on

Deputy Minister of Health and Mass Media, Dr. Hansaka Wijemuni addresses the audience

Sri Lanka private healthcare leaders recently pledged an action plan with timelines to address the practical priorities of Sri Lanka’s healthcare sector while making it more viable for local and foreign investments.

The Association of Private Hospitals and Nursing Homes (APHNH) has committed to converting recommendations from its first Healthcare Leadership Summit into a trackable outcome document with defined actions, responsibilities, and timelines, marking a shift from discussion to implementation in sector reform efforts.

The summit held on March 9 at Waters Edge, Colombo, brought together hospital leaders, policymakers, regulators, insurers, and international experts to address practical priorities for Sri Lanka’s healthcare sector.

A key outcome of the summit was APHNH’s plan to consolidate recommendations into a single, trackable charter that will outline specific actions, assign responsibilities, establish timelines, and provide periodic progress updates.

“Our objective is to bring the right decision-makers into one room and focus on what can be implemented, not only what can be discussed, ” said Raveen Wickremesinghe, President of APHNH. “We are committed to taking the inputs from today and converting them into a clear, trackable set of actions that strengthens quality, transparency and public confidence, while supporting national health priorities. “

The summit featured insights from Dr. Hafeez Rahman Padiyath, Dr. Hamdani Anver, and Chandana L. Aluthgama on scaling quality and operational discipline. A keynote and fireside discussion with Dr. Paiboon Eksangsri, President of the Private Hospital Association of Thailand, explored lessons from Thailand’s private healthcare development and conditions for making Sri Lanka more competitive for healthcare investment.

By Sanath Nanayakkare

Continue Reading

Business

Atlas SipSavi Naththal Poronduwa records positive public participation, benefiting 10,000 students

Published

on

Atlas, Sri Lanka’s No. 1 learning brand, successfully concluded Atlas SipSavi Naththal Poronduwa, a national initiative that saw strong public participation in supporting children at risk of dropping out of school due to financial hardship. At a time when more than 22,000 Sri Lankan children leave school each year due to rising economic challenges, the initiative reinforced Atlas Sipsavi’s long-standing ‘No Child Left Behind’ promise by turning seasonal generosity into meaningful educational support.

The initiative reached 10,000 students, with beneficiary schools carefully selected to ensure support reached those most in need. The collected books were distributed to children at risk of dropping out, including those whose education had been disrupted by recent adverse weather, ensuring students had essential learning resources at the start of the new school term. Through its flagship Atlas SipSavi programme, the brand focused on improving access to education by providing essential learning tools, scholarships, and infrastructure to create better learning environments, bringing its purpose of ‘making learning fun’ to life in a meaningful way. As part of the initiative, the public was invited to donate schoolbooks, with each contribution matched one-for-one by Atlas. Donation boxes were placed at all Keells outlets island-wide and at Sarvodaya District Offices, making it easy for communities to take part.

Continue Reading

Business

John Keells Logistics expands strategic engagement with CWIT through inter-terminal transport operations

Published

on

Representing JKLL: Lasitha Manchanayake: CEO, Dilum Liyanage: Snr. Manager - Transport Operations, Kavinda Jayasinghe: Manager - Operations and Randi Peiris: Asst. Manager - Commercial. Representing the John Keells Group: Zafir Hashim: President - Transportation, Plantations and IT Sectors and Asha Perera: CFO. Representing CWIT: Munish Kanwar: CEO, Iresh Siriwardena: COO, Devanshu Bhatia: Head of Techno Commercial, Madhuranga Wijesekara: In Charge - GATE Process, Sandun Niroshan: Duty Manager.

John Keells Logistics (Pvt) Ltd (JKLL), one of Sri Lanka’s leading third-party logistics solutions providers, has successfully expanded its operational engagement with Colombo West International Terminal (Private) Limited (CWIT), through inter-terminal transport services within the Port of Colombo. This enhanced engagement further strengthens CWIT’s efforts to improve operational efficiency, reliability, and scalability across terminal activities.

Inter-terminal transport plays a critical role in modern port operations, requiring high levels of coordination, precision, and operational discipline. JKLL’s appointment for ITT operations reflects CWIT’s confidence in the company’s demonstrated capabilities in managing complex transport operations within a high-throughput port environment.

The ITT operations are underpinned by JKLL’s technology-enabled logistics framework, incorporating real-time fleet tracking, performance monitoring systems, and data-driven operational planning. These capabilities provide enhanced visibility and control over transport movements, while ensuring compliance with established safety, productivity, and service quality standards.

The awarding of this engagement to JKLL is a testament to the successful implementation of the Inter-Terminal Vehicle (ITV) operations undertaken by John Keells Logistics at CWIT during the previous year. The ITV assignment was executed through structured operating procedures and disciplined service delivery, contributing to improved cargo movement, operational coordination, and service continuity within the terminal. The performance outcomes of the ITV operations provided the basis for the subsequent expansion of the partnership into ITT services.

Continue Reading

Trending