Business
CSE partners with Wayamba and Jaffna Universities to improve financial literacy among undergraduates
The Colombo Stock Exchange (CSE) recently signed Memoranda of Understanding (MoUs) with the Wayamba University of Sri Lanka (WUSL) and the University of Jaffna Sri Lanka (UOJ) to formalize collaborative efforts to improve financial literacy among undergraduates
The MoUs were signed respectively with the Vice Chancellor of Wayamba University, Senior Prof. Udith K. Jayasinghe, and the Vice Chancellor of Jaffna University, Prof. S. Srisatkunarajah, at their respective University premises. Both collaborations are to promote capital market education among undergraduates by working together on several mutually beneficial strategic initiatives. Accordingly, the initiative would offer practical educational training and internship opportunities for students of both universities who are engaged in accountancy and finance, business management, and economics related degree programmes with the CSE.
Further, under the terms of the MoU, the CSE will grant an award to the student from WUSL and UOJ who obtains the highest value in the Grade Point Average (“GPA”) in the Financial Management Specialization Programme.
WUSL and UOJ will also collaborate with the ongoing educational initiatives of the CSE, the Advanced Diploma in Financial Markets (ADFM), as well as future educational activities, by providing the required expertise and resource persons to the seminars and workshops organized by the CSE for investors around the country in promoting the capital market investments.
Commenting on the partnership, the CEO of the CSE, Rajeeva Bandaranaike, stated, ” It is important to promote financial literacy among undergraduates, who are a key segment of the population equipped to contribute to an economically stable future. We are happy to partner with the Wayamba University and the University of Jaffna in progressive initiatives to promote a financially literate undergraduate population
The Vice Chancellor, Wayamba University, Senior Prof. Udith K. Jayasinghe, also sharing his views on the partnership, said, “The MoU signed between the Wayamba University of Sri Lanka and the Colombo Stock Exchange can be identified as a strategic alliance, that promotes collaborative research projects, capacity development of undergraduates, and promotes stock market education within the University community”.
“Our graduates who are going out from the University must know what the stock market is. Though people talk about the stock market, they don’t have a clear idea on its operations. So proper awareness on the stock market should be created among our youth, no matter which field they are from. So, this strategic alliance would also provide an opportunity to our undergraduates to have a sound knowledge on the capital markets.”
The Vice Chancellor, University of Jaffna, Prof. S. Srisatkunarajah, also sharing his views on the partnership, said, “The partnership offers a plethora of opportunities to undergraduates to acquire knowledge on financial studies and capital market operations, which will definitely cause a positive impact on the Sri Lankan economy during these crisis times.”
“Though Sri Lanka has a high literacy rate, financial literacy in the country stands at a lower rate which should be a prime concern of the local Government. Thus, I am confident that this strategic alliance would provide benefits to both parties in a way; encouraging the younger generation of the country to be a financial literate and to the CSE to obtain resource personnel from UOJ for their educational initiatives.”
The Colombo Stock Exchange (CSE) announces the following change in S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2026 Mid-Year rebalance.
The exclusion and inclusion as announced by S&P Dow Jones Indices, effective from 22nd June 2026 (after the market close of 19th June 2026) are presented below.
The S&P SL 20 index includes the 20 largest companies, by total market capitalization, listed on the CSE that meet minimum size, liquidity and financial viability thresholds. The constituents are weighted by float-adjusted market capitalization, subject to a single stock cap of 15%, which is employed to reduce single stock concentration.
The S&P SL 20 index has been designed in accordance with international practices and standards. All stocks are classified according to the Global Industry Classification Standard (GICS®), which was co-developed by S&P Dow Jones Indices and MCSI and is widely used by market participants throughout the world.
To be eligible for inclusion, a stock must have a minimum float-adjusted market capitalization of 500 million Sri Lankan rupees (Rs), a six-month median daily value traded of Rs 0.25 million and have positive net income over the 12 months prior to the rebalancing reference date. For information, including the complete methodology, please visit: www.spindices.com
Effective from 22nd June 2026 the stocks in the S&P Sri Lanka 20 in alphabetical order are as above.
The Teejay Group recorded revenue of LKR 60.04 billion during the period, reflecting a 10% year-on-year decline, primarily due to continued softness in global textile demand. This performance was largely impacted by reciprocal tariffs imposed by the United States, intensified pricing pressures across key markets, and the resulting decline in volumes, all of which collectively weighed on topline growth.
Group Gross Profit declined by 36% year-on-year to LKR 5.02 billion, mainly attributable to lower production volumes, underutilization of plant capacity, sustained pricing pressures, and an unfavorable product mix. Together, these factors adversely affected margin performance amid a challenging operating environment.
The Group reported a Profit After Tax (PAT) of LKR 54.7 million, representing a 98% year-on-year decline. This was primarily driven by higher rupee-denominated costs and non-recurring items, provision for doubtful debts, and restructuring costs associated with right-sizing initiatives.
Ajit Gunewardene, Chairman of the Teejay Group said, “The year was marked by persistent global demand softness and pricing pressures, which impacted results. Despite this, we focused on operational efficiency, cost discipline, and strengthening our financial resilience. These actions position the Group to navigate ongoing uncertainty while remaining committed to long-term value creation for our shareholders.”
Despite these near-term challenges, the Teejay Group continues to maintain a strong financial position, supported by disciplined working capital management and a robust liquidity base. As at 31 March 2026, cash and cash equivalents stood at LKR 8.3 billion, while the Group’s net asset base increased by 3% year-on-year to LKR 32.4 billion, reinforcing the resilience of its balance sheet.
Fairfirst Insurance has once again partnered with the Sri Lanka Police K9 Unit, continuing its support for the seventh consecutive year. This partnership reflects the company’s long-standing commitment to giving back to the community.
Through this initiative, Fairfirst will provide comprehensive insurance coverage for the highly trained canines attached to the Sri Lanka Police K9 Unit. These dogs play a critical role in supporting police operations across the country, assisting with crime detection, narcotics investigations, search and rescue missions, and public safety efforts.
As a company that believes business should create a meaningful impact beyond insurance, Fairfirst remains committed to initiatives that support communities and recognise the vital contributions of those who help keep society safe. This shared commitment to protection and responsibility continues to drive the company’s long-standing partnership with the Sri Lanka Police K9 Unit.
Commenting on the continued partnership, Ravishankar Wickneswaran, CEO of Fairfirst Insurance, said, “It is a privilege for us to continue supporting the Sri Lanka Police K9 Unit for the seventh consecutive year. These dogs serve the country with incredible discipline and loyalty, often in challenging situations. Supporting their wellbeing is one small way for us to give back, and it reflects the FairfirstWay of standing by those who protect and serve our communities every day.”
Fairfirst looks forward to continuing this partnership and contributing to the wellbeing of the Sri Lanka Police K9 Unit in the years ahead.
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