Business
Ceylon Dollar Bond Fund gains on recovering Sovereign Bonds
The Covid-19 financial crisis led to a crash in SL Sovereign Bond prices from $ 100 to an all-time low of $
48.15 in May as investors ran to the safety of US treasuries exiting Asian bonds. The run was common to all Asian Bonds including SL sovereign Bond (ISB).
Most other Asian ISBs had recovered except for Sri Lankan sovereign bonds due to concerns about SL ability to repay the $ 1 billion ISB maturity on the 4th of October 2020. SL was downgraded to B- by the rating agencies (Fitch, S&P & Moody’s) in April 2020 while some international media articles discussed the possibility of Sri Lanka defaulting.
However, with Sri Lanka receiving confirmation of currency swaps for $ 3 billion with India ($ 1.4 bn) and China ($1.63 bn) in July, while the Trade Deficit halved by 50% in May 2020 (YoY). The government has also entered into a $ 1 billion Repo (repurchase agreement) with US although the facility has not been drawn yet. The Central Bank has specifically committed to repay the $ 1 billion sovereign bond maturity in October out of the foreign currency reserves. The above factors along with Sri Lanka’s success in battling the epidemic has increased the confidence of foreign investors. As a result, the 2030 maturity sovereign bond price has increased to $ 74.5 reflecting a yield of 12.1% p.a on July 31, 2020.
Once Sri Lanka honours the $ 1 billion repayment on October 4th, 2020, analysts expect foreign investor confidence to return to SL sovereigns. As a result, investors can expect substantial capital gains in addition to the yield of 12.1% due to an increase in sovereign bond prices.
The Ceylon Dollar Bond Fund (CDBF) invests exclusively in Sri Lanka government guaranteed dollar Sovereign Bonds and Development Bonds. Ceylon Asset Management competes with international USD bond managers in operating the Ceylon Dollar Bond Fund (CDBF), Sri Lanka’s first international sovereign bond fund that navigates global market conditions. The fund reported a performance of 10.3% in US dollar during 2019.
The CDBF is managed by Ceylon Asset Management (CAM) while Deutsche Bank AG serves as the Trustee and Custodian of the fund. CAM is an associate company of Sri Lanka Insurance Corporation Ltd.
Local individual investors who hold a Personal Foreign Currency Account (PFCA), corporate investors with a Business Foreign Currency Account (BFCA) and Foreign Investors are eligible to invest in the fund. Investors can exit at any time without penalties, and repatriate dollars to the originating bank account.
The CDBF is the only dollar-denominated Unit Trust in Sri Lanka licensed by the Securities and Exchange Commission (SEC) and approved by the Central Bank.
Past performance is not an indicator of future performance, investors are advised to read and understand the contents of the explanatory memorandum on www.ceylonam.com.
Business
APHNH aims to make Sri Lanka more competitive for healthcare investment
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
Business
Atlas SipSavi Naththal Poronduwa records positive public participation, benefiting 10,000 students
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.
Business
John Keells Logistics expands strategic engagement with CWIT through inter-terminal transport operations
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.
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