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CSE total market turnover hits Rs. 600 billion within first eight months of 2021

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By Hiran H.Senewiratne

Investor confidence in the Colombo Stock Exchange recorded an all-time high with the total market turnover touching Rs. 600 billion as at 24th August 2021 within the first 08 months of the year. Therefore, the investor sentiment has shown some significant improvement despite the country’s economic woes and the Covid 19 pandemic condition, CSE-Head of Marketing Niroshan Wijesundera said.

“Last year, the CSE’s total turnover reached Rs. 396.8 billion but this year we have surpassed last year’s total market turnover in less than eight months. Therefore, market trading activities have also increased by approximately 27.5 percent, Year-To-Date growth is seen in ASPI, Wijesundere told The Island Financial Review.

He said daily turnover marked the highest value for the quarter at Rs. 10.8 billion, recorded on the previous day. Yesterday the market turnover stood at Rs. 9.9 billion. The two days’ market turnover averaged Rs10 billion year to date; a 34 percent increase of active accounts compared to year 2020.

The CSE implemented the Delivery Versus Payment (DVP) Settlement mechanism on August 16, 2021. “The increased market participation and growth indicates how all the market participants have embraced the new trading systems and its operating infrastructure, Wijesundera explained.

“With the announcement of new policy rates, although a public reaction was exhibited soon after, the positive trajectory of the market indicates that the amended policy rates have not posed a negative effect on the market performance and activity, Wijesundere said.

CSE trading activates were bullish yesterday and a major contributor to the All Share Price Index was Commercial Leasing Finance, which contributed 124 points. Commercial Leasing Finance’s share price yesterday appreciated by 50 percent or Rs. 8.70. Its shares started trading at Rs. 17.50 and at the end of the day they shot up to Rs. 26.20.Expolanka Holdings, performed well on the previous day with noted profit taking but its share price depreciated by two percent or Rs. 2.75. It shares started trading at Rs. 122.75 but at the end of the day they came down to Rs. 120.

Amid those developments both indices moved upwards. All Share Price Index went up by 188.30 points to 8667.95 and S and P SL20 rose by 24.44 points. Turnover stood at Rs. 9.95 billion with three crossings. Those three crossings were reported in Cargills PLC where 730,000 shares crossed to the tune of Rs. 171.5 million and its share price traded at Rs. 235, HNB (Non Voting) 880,000 shares crossed for Rs. 100.4 million, its shares traded at Rs. 114 and JKH 630,000 shares crossed for Rs. 83.2 million, its share price being Rs. 132.

In the retail market top seven companies that mainly contributed to the turnover were, Expolanka Holdings Rs. 1.59 billion (13 million shares traded),LOLC Finance Rs. 1.06 billion (86.3 million shares traded), Browns Investments Rs. 1.04 billion (133 million shares traded), LOLC Holdings Rs. 965 million (1.8 million shares traded), Hayleys PLC Rs. 956.8 million (10.8 million shares traded, Dipped Products Rs. 602 million (10 million shares traded) and Royal Ceramic Rs. 474 million (10.8 million shares traded). During the day 421.4 million share volumes changed hands in 62000 transactions.

LOLC Group now owns a 15 percent stake in SANASA Development Bank (SDB bank) following the conclusion of the bank’s Secondary Public Offering (SPO).SDB Bank said that when the issue closed last week, the SPO had drawn applications worth Rs. 3.69 billion; short of the desired Rs. 4.5 billion aimed at. The SPO received 111 applications requesting for 71.76 million shares.

It said Iconic Property Twenty Three Ltd., a fully owned subsidiary of LOLC Investments, has been allocated 24.1 million shares or 15 percent. Kotagala Plantations PLC’s Rs. 790 million Rights Issue has seen demand worth Rs. 1 billion, reflecting a successful oversubscription.

The Issue involved 263,287,500 Ordinary Shares at Rs. 3 per share on the basis of seven new shares for two held. The aim was to raise Rs. 790 million. Kotagala said the Rights Issue had been oversubscribed with total subscription received amounting to Rs. 1.01 billion inclusive of additional shares applied for. It said the information was subject to the realisation of cheques, bank confirmation, elimination of duplications (if any) and other verifications.

Consolidated Tea Plantations Ltd. owns 45 percent in Kotagala and related parties Lankem Tea and Rubber Plantations own 21.76 percent. The percentage of shares held by the public in Kotagala as of 30 June was 32.77 percent with 13,439 public shareholders.



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Ogilvy Group tops award tally at Dragons of Sri Lanka 2026

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The Ogilvy team with the Gold and Silver awards at the Dragons of Sri Lanka 2026

Nine awards, including two Golds, across disciplines recognise business-driven creativity

Ogilvy Group Sri Lanka delivered a standout performance at the recently concluded Dragons of Sri Lanka 2026 Awards, securing a total of nine awards comprising two Gold Dragons, one Silver Dragon and six Black Dragons, among the festival’s highest overall award tallies, a company news release said.

Gold Dragon wins for Phoenix Ogilvy and Ogilvy Digital, together with the seven additional recognitions across multiple categories, highlighted Ogilvy’s ability to combine creativity, strategic thinking and commercial effectiveness to deliver business results.

Organised by the 4As Sri Lanka, the third edition of Dragons of Sri Lanka shortlisted more than 50 agencies and corporates, making it one of the country’s most competitive marketing communications awards. These local awards, along with the chapters in Malaysia and Pakistan are part of the Dragons of Asia platform, one of the region’s leading programmes for marketing communications effectiveness, with entries being judged on strategy, originality, execution and measurable results.

Ogilvy Digital accounted for eight awards in total, including a Gold Dragon in the Business & Trade Marketing category, and a Silver Dragon in the Innovative Idea or Concept category. The Agency additionally received six Black Dragons across the categories of Innovative Idea or Concept, Business & Trade Marketing, Content Creation, Small Budget, Event or Experiential, and Brand Trial or Sales Generation.

Commenting on the achievement, Sajith Weerasinghe, Chief Operating Officer of Ogilvy Digital, said, “These recognitions reflect the breadth of capabilities we’ve built across strategy, creative, content, experience design, technology and performance marketing. The fact that the work was recognised across so many different disciplines demonstrates our ability to apply creativity to a wide range of business challenges and objectives. We’re proud that this achievement spans multiple clients, categories and types of work, reflecting both the versatility of our people and our commitment to delivering results.”

The Ogilvy Group’s second Gold Dragon win was Phoenix Ogilvy’s recognition in the Product Launch or Re-Launch category for the relaunch of American Premium Water. It was a multi-dimensional campaign which refreshed the identity and rejuvenated the positioning of one of Sri Lanka’s pioneering bottled drinking water brands, bolstering its 30-year heritage while connecting with a new generation of consumers.

Commenting on the win, Siddhartha Roy, Chief Operating Officer at Phoenix Ogilvy, said, “There’s always something special about reimagining a brand with a rich heritage. American Premium Water has been a trusted name in Sri Lanka for more than three decades, but the challenge was to make it relevant and compelling for a new generation of consumers. We created a new blueprint for growth for the brand’s positioning, proposition and visual identity, and manifested it through design, packaging and storytelling. To see that transformation recognised with a Gold Dragon, and more importantly reflected in the brand’s renewed momentum in the market, makes this a particularly rewarding achievement.”

The Ogilvy Group Sri Lanka operates across multiple marketing communication disciplines and comprises over 290 staff in creative, strategy, digital, media, public relations and integrated communications. As part of the global Ogilvy network, the Group partners with leading local and international brands to create integrated campaigns that build brands, influence behaviour and drive business growth.

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Musical tribute to Fr. Marcelline Jayakody held in California

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Rev. Fr. Rashmi M. Fernando with the performers at the event

A musical tribute celebrating the life and legacy of Rev. Fr. Marcelline Jayakody, OMI, renowned for his contribution to Sri Lankan arts, music, culture and religious harmony, was held in California with the participation of a large gathering of Sri Lankans.

Titled “Sri Lanka Rani Maniye,” the event was organised by the Sri Lankan Catholic Community in California (SLCCC) under the guidance of Rev. Fr. Rashmi M. Fernando, S.J.

Shalika Perera singing at the event

The programme honoured Fr. Jayakody, affectionately known as “Pansale Piyathuma” (The Priest of the Temple), for his efforts to promote Buddhist-Catholic understanding, interfaith dialogue and a shared Sri Lankan identity.

The event brought together members of the Maha Sangha, the Consul General of Sri Lanka in Los Angeles, musicians, singers, donors, parents, children and members of the Sri Lankan community from Los Angeles and other parts of Southern California.

Music, song and Sri Lankan cultural traditions featured prominently, with organisers placing particular emphasis on introducing the country’s artistic and cultural heritage to younger generations of Sri Lankans growing up overseas.

The programme also highlighted the importance of community unity, religious harmony and mutual respect among Sri Lankans living abroad.

Rev. Fr. Fernando told the gathering that the event marked only the beginning of efforts that could achieve more through unity “for the pride and greater good of our motherland, Sri Lanka.”

The organisers thanked the performers, volunteers, donors and well-wishers who contributed to the event, which concluded as a celebration of Fr. Jayakody’s enduring cultural legacy and the Sri Lankan diaspora’s continuing connection with its homeland.

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Hayleys Fentons completes Rs. 1 bn manufacturing facility in Wathupitiwala

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Hayleys Fentons Limited has completed construction of a state-of-the-art manufacturing facility for Shield Restraint Systems (Pvt) Ltd at the Wathupitiwala Export Processing Zone, with the project completed on schedule within approximately 14 months.

The project, valued at more than Rs. 1 billion, commenced with the laying of the foundation stone on January 7, 2025. It was undertaken by the project arm of Hayleys Fentons, with Design Consortium International (Pvt) Ltd serving as the principal design consultant.

The facility has been designed to meet international industry standards and incorporates advanced safety and energy-efficiency features. A pre-engineered building structural system was used to facilitate faster construction and optimise project costs.

The new facility will manufacture safety restraint systems for the international automotive industry through Shield Restraint Systems.

Hayleys Fentons Deputy Managing Director – Projects Sujith De Alwis said the timely completion of the project demonstrated the company’s engineering and project management capabilities and the ability of Sri Lankan construction expertise to meet stringent international standards.

Hayleys Mobility Executive Director Roshani Dharmaratne said the project required detailed planning, quality management and coordination across multiple disciplines.

Sujith De Alwis, Deputy Managing Director – Projects of Hayleys Fentons Limited and Roshani Dharmaratne, Executive Director of Hayleys Mobility Limited

Chairman Design Consortium Migara Alwis said the project further strengthens its portfolio in specialised industrial construction and supports investment linked to Sri Lanka’s participation in the global automotive supply chain.

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