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Decline in net foreign outflow from CSE in June compared to May seen as sending positive signal for market

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By Hiran H.Senewiratne

The net foreign outflow at the CSE has come down in June compared to May this year in a positive signal for the market, which indicates that foreign investors still have confidence in the local stock market, Head-Market Development, CSE, Niroshan Wijesundara said.

“May was a critical month due to the outbreak of the Covid 19 third wave after the New Year. Therefore, foreign outflow/selling was Rs. 6.4 billion. However, in June foreign outflow/ selling was to Rs. 3.76 billion, which is quite a healthy situation for the market, Wijesundera told the Island Financial Review.

He also said that in May a Rs. 1.5 billion private placement took place with NDB, which has significant foreign investor participation.

Commenting on LOLC Development Finance, he said that the public holds only 0.03 percent shares in it, which are all illiquid shares and sometimes companies do this to ensure free float of shares in the market, which depends on board requirements.

Amid those developments both indices moved downwards yesterday. All Share Price Index went down by 2 points and S and P SL20 went down by 21.65 points. Turnover stood at Rs. 1.35 billion with a single crossing. The crossing took place in JKH, which crossed 1.86 million shares to the tune of Rs. 242.6 million, its shares traded at Rs. 131.

In the retail market, top five companies that mainly contributed to the turnover were Cargills Rs. 134 million (497,000 shares traded), JKH Rs. 103 million (784.2 million shares traded), LOLC Rs. 64.9 million (164,000 shares traded), LOLC Finance Rs. 60.2 million (8.54 million shares traded) and Dipped Products Rs. 57.6 million (1.1 million shares traded)

During the day, the market was sluggish; the overall valued stocks witnessed a decline, while illiquid speculative counters reported gains. LOLC Finance, Commercial Leasing and Finance and Kotmale Holdings contributed to the All Share Price Index. LOLC Finance contributed 9.5 points, Commercial Leasing and Finance 23 points and Kotmale Holdings contributed seven points to the All Share Price Index. All three companies together contributed 40 points to the All Share Price Index while the market was down by 2 points.

Much talked about LOLC Development Finance share price moved down, which contributed 14.5 negative points to the All Share Price Index and Index heavy JKH also contributed nine negative points to the All Share Price Index.

During the day Commercial Bank share price appreciated by 24 percent or Rs 1.60. Its share price moved upto Rs 8.20 from Rs 6.60. LOLC Finance appreciated its price by 13 points and 80 cents. Its share price moved to Rs 7.10 from Rs 6.30 and Kotmale Holdings share price appreciated by 23 percent or Rs 118.50. Its share price moved to Rs 645 from Rs 526.50.

However, Kotmale Holdings, a subsidiary of Cargills, also witnessed an unusual price increase of its shares, similar to LOLC Development Finance. Cargils owned 31.2 million or 99.5 percent in Kotmale Holdings. Only 0.5 percent or 153,200 shares traded in the market. Its is said that due to the small quantity of shares and illiquid nature of its shares in the stock market, dominating the market imparts a wrong signal on the market, which would affect the image of the market, which needs to be investigated propermanner, stock brokers said. During the day63.5 million share volume changed hands in 17912 transactions.



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JAT Holdings celebrates the 6th Pintharu Abhiman Convocation, uplifting over 800 painters through NVQ certification

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JAT Holdings PLC marked a significant milestone with the successful conclusion of the 6th JAT Pintharu Abhiman Convocation, recognising more than 800 painters who have earned their NVQ Level 3 qualification, an internationally recognised professional certification delivered in partnership with the National Apprentice and Industrial Training Authority (NAITA).

JAT Pintharu Abhiman was established to uplift Sri Lanka’s painter community through structured skills development, professional recognition and stronger earning potential. This year’s graduating cohort reflects the programme’s expanding reach and the tangible changes it continues to deliver for individuals, families and communities.JAT in collaboration with NAITA has streamlined the certification process such that what would traditionally take up to six months has been refined into an efficient and high-impact three-day assessment model. This approach ensures painters can obtain their qualification without sacrificing extended periods of work, while JAT fully absorbs the certification cost, removing financial barriers and enabling wider access to formal recognition.

Research conducted amongst NVQ qualified participants shows meaningful improvements in livelihoods, with 90 percent reporting increased personal confidence and 76 percent noting an improvement in their overall standard of living. This uplift demonstrates the long-term value of industry-aligned professional training.

A noteworthy moment at this year’s convocation was the recognition of four female painters who received their NVQ certifications. Their achievement marks an important step in broadening female participation in a field that has historically been male dominated, reinforcing JAT Holdings’ commitment to creating inclusive pathways for technical development and sustainable employment.

Speaking at the ceremony, Mr. Wasantha Gunaratne, Director Sales and Technical (South Asia) of JAT Holdings PLC, said:

“Pintharu Abhiman is fundamentally about development, giving painters the knowledge, structure and recognition they need to progress in their careers. By equipping over 800 painters with an internationally recognised NVQ qualification, we are not only strengthening the technical standards of the industry but also creating real pathways for entrepreneurship and financial independence. It is especially encouraging to see that one in five certified painters have already begun building their own businesses. These are the outcomes that matter because they show that when we invest in skills, we unlock opportunity. JAT remains committed to expanding these avenues so every painter has the chance to grow, lead and build a sustainable future.”

The 6th JAT Pintharu Abhiman Convocation underscores JAT’s continued dedication to uplifting the painter community, enhancing industry standards and supporting national skills development through accessible, professionally recognised qualifications.

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Industry bodies flag gaps in Draft National Electricity Policy

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The Ceylon Chamber of Commerce, together with the American Chamber of Commerce, Exporters Association of Sri Lanka, Federation of Renewable Energy Developers, Joint Apparel Association Forum, National Chamber of Commerce of Sri Lanka and Sri Lanka Association for Software and Services Companies, has submitted joint observations on the Draft National Electricity Policy, highlighting that several key issues have not been adequately addressed.

Whilst recognizing the need for reform in the electricity sector, the submission flags several gaps in the draft policy that require closer attention. Key areas such as affordability, decarbonisation commitments, incentives for renewable energy, competition, and the long-term financial health of the sector are either missing or not addressed in sufficient depth.

The proposed tariff revisions outlined in the draft energy policy raise concerns, particularly regarding the removal of cross-subsidies and the proposal to restrict subsidies exclusively to households consuming less than 30 kWh per month. Without detailed analysis, these measures could weaken access to sustainable and affordable energy and potentially lead to fiscal risks.

The provisions allowing uncompensated curtailment, removing feed-in tariffs, and imposing mandatory time-of-use tariffs on rooftop solar users could make renewable energy projects un-bankable for international lenders, thereby increasing the cost of capital for Sri Lanka.

Calling for a more future-focused approach, the submission stresses the need for a policy that reflects modern electricity systems, including planning for the energy transition, energy storage, market competition, cross-border electricity trading, and emerging technologies.

The Chambers and Associations request a comprehensive revision of the Draft National Electricity Policy, alignment with the Electricity Act, and resubmission following substantive consultation, and reiterate support to engage constructively with policymakers to shape a policy that supports affordability, investment confidence, and Sri Lanka’s long-term energy security.

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Bank of Ceylon partners with 36th APB Sri Lanka Convention

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Bank of Ceylon (BOC) partnered with the 36th Annual Convention of the Association of Professional Bankers (APB) Sri Lanka, reaffirming its commitment to promoting professional excellence and knowledge sharing within the banking sector. The partnership was officially handed over by Sameera D. Liyanage, Chief Marketing Officer of Bank of Ceylon and M. R. N. Rohana Kumara, Deputy General Manager Business Revival Unit of Bank of Ceylon, reflecting BOC’s focus on empowering banking professionals and supporting the sustainable growth of Sri Lanka’s financial services industry.

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