Business
CSE total market turnover hits Rs. 600 billion within first eight months of 2021
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.
Business
Pan Asia Bank’s Rs. 5 b debenture issue oversubscribed
Pan Asia Banking Corporation PLC’s Senior Listed Rated Unsecured Redeemable Debenture issue of up to Rs. 5 billion was oversubscribed following its opening reflecting strong investor interest.
The debentures, with a par value of Rs. 100 each, will be listed on the Colombo Stock Exchange (CSE). The three-year debentures offer an interest rate of 12.75% interest payable annually, while the five-year debentures offer 13.50% interest payable annually.
The issue has been assigned a BBB+ (Stable) rating by Lanka Rating Agency.
The debenture issue was managed by the Investment Banking Unit of Commercial Bank of Ceylon PLC, with SSP Corporate Services (Private) Limited serving as the Registrar to the Issue.
The Bank said the strong investor response demonstrates continued confidence in Pan Asia Bank and its approach to creating long-term value for its stakeholders.
Pan Asia Bank, which positions itself as ‘The Truly Sri Lankan Bank’, continues to strengthen its role in supporting the financial requirements of individuals and businesses while contributing to the development of Sri Lanka’s economy.
Business
SLIIT International and Liverpool John Moores University inaugurate dedicated international learning facility
The Sri Lanka Institute of Information Technology (SLIIT) and Liverpool John Moores University (LJMU), United Kingdom, recently inaugurated SLIIT International in Collaboration with LJMU, a dedicated international learning facility located at No. 17, Dickmans Road, Colombo 04, marking a significant milestone in a partnership spanning more than a decade and reinforcing their commitment to providing Sri Lankan students with access to internationally recognised UK higher education qualifications.
The Grand Opening Ceremony was attended by Andrew Patrick, British High Commissioner to Sri Lanka, who graced the occasion as Chief Guest, alongside senior representatives from SLIIT, Liverpool John Moores University, the British Council, academia, industry and other stakeholders, marking the next chapter of the longstanding SLIIT–LJMU collaboration. The new facility is particularly significant as Sri Lanka’s first academic facility dedicated exclusively to the delivery of LJMU degree programmes, reflecting the strength, maturity and long-term commitment of the partnership.
Over the past decade, the SLIIT–LJMU partnership has established a growing network of more than 1,500 alumni, while providing Sri Lankan students with opportunities to gain internationally recognised UK qualifications locally. The new dedicated facility has been designed to provide a world-class learning environment exclusively for LJMU programmes, supporting future programme expansion, strengthening the student experience and creating opportunities for deeper academic collaboration, innovation, research and student engagement.
Commenting on the milestone, Prof. Lalith Gamage – Vice-Chancellor, Managing Director and Chief Executive Officer, SLIIT, stated, “The launch of SLIIT International in Collaboration with Liverpool John Moores University represents an important new chapter in our longstanding partnership with Liverpool John Moores University. Our vision is to provide Sri Lankan students with a world-class education and student experience right here in Sri Lanka, while equipping them with the global outlook, critical thinking, professional capabilities and career readiness required to succeed in an increasingly interconnected world. This dedicated facility strengthens the student experience while providing a strong foundation for the continued growth of our collaboration with LJMU.”
Prof. Timothy Nichol, Pro-Vice-Chancellor, Faculty of Society and Culture, Liverpool John Moores University, said, “The opening of Sri Lanka’s first facility dedicated exclusively to LJMU degree programmes represents a significant milestone for the University and our partnership with SLIIT. It reflects the strength of our collaboration and our shared commitment to delivering a high-quality LJMU educational experience in Sri Lanka. The new facility also creates exciting opportunities for deeper academic collaboration, innovation, research and student engagement as we look towards the next phase of our partnership.”
A key highlight of the Grand Opening Ceremony was the panel discussion titled “Beyond Borders: The Role of British Higher Education in Developing Globally Competitive Graduates.” The discussion examined the growth of international educational opportunities in Sri Lanka, the future expansion of UK degree programmes, maintaining the quality and integrity of UK qualifications, developing future-ready graduates with global competencies, and the role of international higher education in strengthening graduate employability. The panel brought together Prof. Lalith Gamage; Prof. Timothy Nichol; Mr. Sajeewa Meepage, Representative of the British Council; and Dr. Harsha Cabral, Board Member of SLIIT.
The panelists further emphasized on emerging trends in areas including law, business, psychology and artificial intelligence, as well as the contribution of UK higher education to Sri Lanka through internationally recognised qualifications that uphold global academic standards.
The discussion explored the history and future of the SLIIT–LJMU partnership, the strategic significance of the new SLIIT International facility, academic quality, graduate employability and the long-term growth of LJMU programmes in Sri Lanka.
The ceremony also featured a special address by Andrew Patrick, British High Commissioner to Sri Lanka, followed by an address by Mrs. Clare Sears, Country Director, British Council Sri Lanka. The evening also included the ceremonial exchange of the partnership document between SLIIT International and Liverpool John Moores University, symbolising the continued commitment of both institutions to strengthening their collaboration and expanding international educational opportunities for Sri Lankan students.
Business
Dijital Team and WinSYS City University launch two-year partnership
Dijital Team has signed a two-year partnership with Winsys City University, strengthening the skills and capabilities of its team members to support Managed Service Providers and IT service providers while elevating tech talent to immediate industry-readiness. With a Memorandum of Understanding (MOU) signed recently, the partnership was formally launched on 9 September 2026 at Dijital Team’s office premises, Colombo.
Combining Dijital Teams’ international employer network and understanding of the capability requirements of MSPs and IT service providers across Australia, New Zealand and the United Kingdom with Winsys City University’s training heritage of 21 years, the joint programmes create legitimate classroom-to-international-career pathways, offering structured learning and certification avenues that support deeper capability across cloud, cybersecurity, automation, AI and emerging technologies.
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