Business

CSE investors switching to govt. securities in view of current uncertainties

Published

4 years ago

2022/04/8

By Hiran H.Senewiratne

CSE investors are now switching to other fixed income instruments, especially to government securities like Treasury Bills, due the current economic, political and social uncertainties, stock analysts told this newspaper.

It is said that the secondary market remained inactive on the previous day despite the yields in the weekly bills auction soaring over 300 basis points, market participants said.

CSE investor sentiment has suffered immensely and it is in negative territory because the government is yet to provide solutions to any economic woes. This has prompted people to switch to the other fixed income avenues, especially government securities, market sources explained.

It is said that in the bond market the three- month yield went up 120 basis points to 14.12 per cent. The previously weighted average yield auctioned at 12.92 per cent. The six-month yield went up 311 basis points to 15.36 per cent. In previous times the weighted average yield rate was 12.25 per cent. The twelve -month bill yield rose 341 basis points to 15.69 per cent. At the previous auction, the weighted average yield was 12.28 per cent.

Amid those developments both indices moved downwards and all the counters showed price depreciation. The All- Share Price Index went down by 301 .6 points and S and P SL20 declined by 122.8 points. Turnover stood at Rs 1.4 billion with one crossing. The crossing took place in DFCC, which crossed 689,000 shares to the tune of Rs 33 million; its shares traded at Rs 48.

In the retail market top seven companies that mainly contributed to the turnover were; Expolanka Rs 517 million (3.3 million shares traded), Browns Investments Rs 176 million (28.8 million shares traded), LOLC Finance Rs 111.5 million (13.2 million shares traded), LOLC Holdings Rs 60.4 million (150,000 shares traded), Aitken Spence Rs 50 million (634,000 shares traded), CTC Rs 43.3 million (66,000 shares traded) and Access Engineering Rs 37.6 million (2.5 million shares traded). During the day 72.5 million share volumes changed hands in 16000 transactions.

Diversified engineering company Luminex Ltd. has secured official approval from the CSE for its Rs.250 million initial public offering (IPO), which is scheduled to open on the 26th of this month.

The company plans to issue 31.25 million new ordinary voting shares at an offer price of Rs.8 per share, to be listed on CSE’s Diri Savi Board.

Navara Capital Ltd. has been appointed as financial advisors and managers to the issue. Earlier this week, CL Synergy postponed its Rs.1.3 billion IPO, which was scheduled for 7th of this month, citing short-term uncertainties in the market due to political and social unrest in the country. Luminex specializes in telecommunication network development, electrical engineering (low tension (LT) and high tension (HT)), civil, water and sewerage construction.

Yesterday, the rupee was quoted at Rs 310 against the US dollar in commercial banks. Commercial banks were offering to sell dollars for telegraphic transfers at between Rs 310-313 and buy between Rs 295-300 on the previous day.

The Central Bank indicative spot rate remained flat at Rs 309.38 buying rate and the selling rate at 319.99.

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Business

SLT-MOBITEL turnaround signals new era for SOEs, says deputy minister

Published

25 mins ago

2026/03/30

Thilina Walpola

The panel discussion led by Deputy Minister of Digital Economy Eng. Eranga Weeraratne (centre) with SLT MOBITEL’s top management Pic by Nishan S. Priyantha

The era of privatising loss-making state-owned enterprises may be drawing to a close, with SLT-MOBITEL emerging as proof that strategic management can deliver profitability without a change in ownership, Deputy Minister of Digital Economy Eng. Eranga Weeraratne said.

“There was a massive public outcry asking the previous governments to sell the loss-making state-owned enterprises. Now it is not there as it was used to be heard,” Weeraratne said. “SLT-MOBITEL has proven that the proper management strategy can turn any loss-making SOE into profit. Gone are the days we heard ‘sell, sell, sell’.”

The remarks came as Sri Lanka’s national ICT provider reported a decisive financial turnaround in FY 2025, driven by disciplined cost management, operational efficiency, and steady growth across fixed and mobile businesses.

The company has simultaneously rolled out a pioneering 24/7 operational model – the industry’s first – with 14 Outside Plant Maintenance Centres operating round-the-clock in metro areas, Kandy, and Jaffna to ensure uninterrupted connectivity.

“Our strong financial results reflect the resilience of SLT-MOBITEL and the trust customers place in us,” said Dr. Mothilal de Silva, Chairman, SLT Group. “With the roll-out of the 24/7 OPMC operations, we are raising the bar for service reliability.”

SLT-MOBITEL has also made 5G publicly available in Sri Lanka and continues to support the Ministry of Digital Economy with secure data centre infrastructure, reinforcing its role as a catalyst of national development.

By Sanath Nanayakkare

Business

Kia Tasman arrives in Sri Lanka: A pickup built for work and comfort

Published

25 mins ago

2026/03/30

Thilina Walpola

Kia Motors Lanka has launched the all-new Kia Tasman, the brand’s first-ever pickup truck – engineered to redefine the double cab segment by combining rugged capability with SUV-like refinement.

Built on a robust body-on-frame platform, the Tasman offers best-in-class strength with a payload capacity of 1,151kg, towing up to 3,500kg, and water wading up to 800mm. Advanced 4WD systems and terrain modes ensure unmatched off-road performance.

Inside, the cabin surprises with best-in-class rear legroom, sliding and reclining rear seats – a segment-first – and a panoramic display with premium Harman Kardon sound.

“This is a vehicle conceived without compromise,” said Kia Motors Lanka Chairman Mahen Thambiah. “For customers who demand durability, capability, and everyday comfort, the Tasman delivers on every front.”

Business

Chief Risk Officers rise globally to drive smarter risk-taking while Sri Lanka’s boardrooms remain silent

Published

30 mins ago

2026/03/30

Thilina Walpola

As geopolitical tensions, economic volatility, and technological disruption reshape global markets, the Chief Risk Officer (CRO) is emerging as a strategic pillar in boardrooms worldwide. In Sri Lanka, however, the role remains largely absent.

Once confined to major banks, the CRO is now gaining traction across industries including finance, logistics, technology, and manufacturing. According to the 2025 Global Risk Survey by EY, nearly 78% of organisations now place risk management at the heart of strategic planning, signalling a shift from reactive crisis management to proactive risk leadership.

The CRO is tasked with identifying and preparing for threats to financial stability, operations, reputation, and compliance – ranging from cyberattacks and supply-chain disruptions to regulatory shifts and climate risks. “The CRO is no longer just the person who says ‘no’ to risky decisions,” a Singaporean banking executive said. “Today, the CRO helps companies take smarter risks and build resilience.”

The role’s growing importance will be highlighted at the upcoming Chief Risk Officer Conference (20–21 May 2026 in Singapore), organised by the Asian Bankers Association in partnership with Trueventus. Key topics include AI-driven risk modelling, geopolitical shocks, and ESG integration.

For Sri Lankan firms where risk functions are often distributed across finance, compliance, and audit – the rise of the CRO offers a clear signal. As an Indian risk consultant noted, “Companies today don’t just compete on profits. They compete on how well they manage uncertainty.”

By Sanath Nanayakkare