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Daraz celebrates 5 successful years of revolutionizing Sri Lanka in many ways than one

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Five years ago, a small and young team of around 100, were operating under the name of Kaymu.lk, building the foundation for a stable e-commerce platform in Sri Lanka. Recognizing the potential of the operations, Daraz stepped forward to invest on this business, contributing with international level financial and technological prowess.

Since its launch in Sri Lanka in 2016, Daraz has grown in leaps and bounds within a short period of five years, transforming and revolutionizing e-commerce in the country and opening thousands of opportunities to the local retail industry. With its exposure to the global giant Alibaba’s technological eco system, and backed by AliPay/Ant Financials, Daraz possesses first in class technology and business intelligence that monitors market and behavioral trends.

Today, over 50,000 large, medium and small enterprises sell on Daraz, providing millions of items to the online shoppers to buy from. More than 10,000 Sri Lankan women entrepreneurs, who are bread-winners of their families are benefitting by the largest online shopping platform in the island. Daraz’s own logistic arm, Daraz Express (DEX), which is the largest professional delivery fleet in the country, including over 25 Daraz Hubs across the island, has played a key role in developing an efficient island-wide logistic network. With the continuously expanding operation, over 5,000 direct and indirect employment opportunities have been created in the past 60 months. In 2019 Daraz consolidated the management and business operations of wOw.lk, the online retail platform owned by Dialog Axiata Group, further strengthening its position as market leader.

During the pandemic, while many businesses and individuals fought hard to sustain, Daraz delivered over 5 million groceries, supplied by our own Sri Lankan sellers, to people’s doorsteps all over the country.

Daraz continues to lead the e-commerce industry in Sri Lanka as a catalyst of innovation and technological finesse, introducing global trends to the local market. This year, Daraz launched two new features that enhanced the online shopping experience further. dMart, the future of online grocery shopping, conveys new technology to shopping for groceries online. Personalized shopping for each customer based on their past behavior and experience, a dedicated ‘Add to Cart’ button and search bar for all dMart products and express delivery with same day service for orders placed before 3 PM has made the mundane grocery shopping much more convenient. Furthermore, in a remarkable first in Sri Lanka, Daraz introduced Daraz Live, a ‘watch now, shop now’ feature, which enables consumers to see product demonstrations, and the look and feel of products prior to the purchase.

Daraz’s commitment to Sri Lanka is not restricted to its own industry. Wanting to inspire Sri Lankans to pursue their dreams and grow together, Daraz extended its support to local sports through two major partnerships. The e-commerce giant partnered with Sri Lanka Cricket as the Official Overseas Team partner for the national cricket team of Sri Lanka, coming forward to support the heartbeat of the nation. Not stopping there, Daraz also sponsored the National Olympic Team as the Official Digital Partner at the Tokyo Olympics, working closely with the National Olympic Committee of Sri Lanka to inspire the local athletes under the theme ‘Delivering Dreams’.

Using the existing platform to drive social awareness and create an opportunity to contribute to worthy causes, Daraz also has its CSR arm, Daraz Cares, which encourages users to make purchases that would impact the society we all live in, and help the deserving to gain access to resources they need. Through the partnerships with UNICEF, Sri Lanka Red Cross Society, Leads and Habitat for Humanity, Daraz users can choose from a variety of charities, and make donations that are available within a wide range of value, so as to make it affordable to all.

In the long drawn battle against Covid, Daraz donated Rs. 2 million and a supply of PPE kits to the ITUKAMA COVID 19 Healthcare and Social Security Fund. They also donated PPE and beds to the Sri Lanka Army, as well as dry rations to the Sri Lanka Police, in a gesture of saluting the front line heroes.

“As we mark five years in Sri Lanka, we take pride in what Daraz has achieved and contributed to the nation as a growing entity. We have come a long way from being an online shopping platform. Today, Daraz as a team, together with our seller and delivery partners, stand tall in driving the Sri Lankan retail market to its best potential,” stated Rakhil Fernando, Managing Director of Daraz Sri Lanka.

Thus reaching out to make lives of Sri Lankans better in many ways than one, Daraz has more than enough reason to celebrate its fifth anniversary. As such, the Daraz Turns 5 promotion will commence on 7th and continue until 13th October with up to 75% off, discounts on Bank cards and easy payment schemes for thousands of products available on Daraz. Realme, Unilever, VIVO, Hemas, Browns, Vantage and Teleseen Marketing join Daraz as Diamond partners while HP, OPPO, Celcius, Revlon, Multilac, Mead Johnson Nutrition, Yamaha Music Center, Hunters, Swisstek, Ebsaw, P G Martin and Embark take over the platinum partnerships. The gold partners are HUAWEI, Reckitt Benckiser, IELGY, Staedtler, CKEYIN, Dahua, Quantum Fitness, Janet, Coca Cola, Lumala, Blink International, TOFO, Munchee, Select by Daraz, The Concept Store and BOYA.



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Business

Constituent Change in the S&P Sri Lanka 20 Index

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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.

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Teejay Group navigates industry headwinds with financial strength and strategic focus

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Teejay Lanka Chairman Ajit Gunewardene and CEO Pubudu De Silva

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.

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Fairfirst celebrates 7 years of supporting the Sri Lanka Police K9 Unit

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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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