Business
Domestic debt restructuring worries bring down bourse
By Hiran H.Senewiratne
The CSE closed weaker yesterday to a more than one-week low in dull trade amid negative market sentiments due to investors waiting for directions from the 2023 budget scheduled for November 14, and worries over domestic debt restructuring, stock brokers said. A Ministry of Finance statement said domestic debt was included in the perimeter of an International Monetary Fund debt analysis. “This means liquidity conditions are going to tighten and might strain the profitability of local banks, stock market analysts said.
CSE shares fell in mid-day trade pulled down by index heavy shares and gloomy conditions in the external environment. The US Fed Reserve is also planning an interest hike, adding insult to the injury endured by the stock market, analysts said. However, investor sentiment improved latterly as retailers said that they expect interest rates to fall in line with inflation.
The main All Share Price Index (ASPI) fell 0.72 per cent or 52.9 points and the most liquid S&P SL20 fell by 6.9 points. Turnover stood at Rs 1.1 billion with two crossings. Those crossings were reported in Cargills, which crossed 914,000 shares to the tune of Rs 205 million, its shares traded at Rs 225 and Browns Investments 6.7 million shares crossed to the tune of Rs 40.1 million, its shares traded at Rs 6.
In the retail market top seven companies that mainly contributed to the turnover were; Expolanka Holdings Rs 228 million (1.4 million shares traded), Aitken Spence Rs 86.9 million (648,000 shares traded), Lanka IOC Rs 81.5 million (456,000 shares traded), Browns Investments Rs 60 million (9.9 million shares traded), Dipped Products Rs 32.1 million (1.1 million shares traded), Royal Ceramic Rs 31.9 million (one million shares traded) and CIC Holdings Rs 31.2 million (362,000 shares traded). During the day, 50.1 million share volumes changed hands in 12000 transactions.
It is said high net worth and institutional investor participation was noted in Browns Investments and C.T. Holdings. Mixed interest was observed in Expolanka Holdings, Lanka IOC and JKH, while retail interest was noted in SMB Leasing, Tess Agro and LOLC General Insurance.The Transportation sector was the top contributor to the market turnover (due to Expolanka Holdings) while the sector index gained 0.45 per cent. The share price of Expolanka Holdings increased by 75 cents to close at Rs. 167.75.
The Energy sector was the second highest contributor to the market turnover (due to Lanka IOC), while the sector index increased by 0.22 per cent. The share price of Lanka IOC gained one rupee to close at Rs. 176.25.Yesterday the Central Bank- announced US dollar buying rate was Rs 360.76 and the selling rate Rs 371.56.
Business
Priority areas for deepening Japan-SL economic ties
Japan Business Council (SLJBC) of The Ceylon Chamber of Commerce recently held its 47th AGM, with the Ambassador of Japan and the Patron of the Council, Akio ISOMATA, attending as the Chief Guest.
Addressing the gathering, Ambassador ISOMATA outlined three priorities for deepening bilateral economic relations: an effective and forward-looking trade and investment policy, the promotion of domestic industrial policy, and expanded investment in renewable energy. He noted that Sri Lanka’s ongoing review of its Free Trade Agreement policy would be important in shaping the country’s future negotiating landscape. He encouraged Sri Lanka to look Eastward toward Southeast Asia and Japan, proposing that the country adopt an export-oriented industrial model. The Ambassador welcomed the Government’s National Export Development Plan 2026 and National Mineral Policy 2026 as consistent with Japan’s vision of connecting Sri Lanka’s export-related manufacturing sectors with India’s high-growth manufacturing base.
In his address, President Athulla R F Edirisinghe reflected on nearly seven decades of humanitarian and development support extended by Japan to Sri Lanka, and paid tribute to the Chairman of the Sasakawa Peace Foundation Yohei Sasakawa, for his magnanimity in establishing the Foundation. Reflecting on the history of Japanese investment in the region from the 1970s onward, he observed that Sri Lanka had missed many opportunities to attract Japanese foreign direct investment. Highlighting the 2025 proposal for a Sri Lanka – Japan Economic Corridor by the Ministry of Economy, Trade, and Industry Japan, he called on Sri Lankan businesses, industry associations, and the wider community to come together in dialogue with the Government to ensure the country does not miss this opportunity as well.
2026/27 Committee: President: Athulla R F Edirisinghe – Director, Hirohama Ceylon (Pvt) Ltd, Senior Vice President – Ruwan Waidyaratne – Managing Director, Hayleys Advantis Ltd, Vice – President – Shamil Mendis – Managing Director, Spear International (Pvt) Ltd, Treasurer – Rohitha Mendis – Managing Director of Prudential Shipping Lines (Pte) Ltd, Immediate Past President – Mahen Kariyawasan – Managing Director, Andrew The Travel Company (Pvt) Ltd, representatives from Amano Lanka Engineering (Pvt) Ltd, BOV Capital (Pvt) Ltd, Brandix Apparel (Pvt) Ltd, Heritage Teas (Pvt) Ltd, Kalhari Enterprises (Pvt) Ltd, Lanka Harness (Pvt) Ltd, Dentsu Grant (Pvt) Ltd, MAC Holdings (Pvt) Ltd, and Vidullanka PLC. By invitation: HVA Foods PLC (subsidiary of George Steuart & Co), Spillburg Holdings (Pvt) Ltd, and Vaughan Chemicals (Pvt) Ltd.
The Sri Lanka – Japan Business Council plays an important role in promoting trade, tourism, and investments between Japan and Sri Lanka. For membership inquiries contact Kiyara at The Ceylon Chamber of Commerce via E-mail: businesscouncils1@chamber.lk or Tel.: 011 5588875/ 5588800.
Business
Rekawa turns turtle conservation into a 30-year community business model
By Ifham Nizam
What started 30 years ago as an effort to protect sea turtles has evolved into a community-based economic model that has generated livelihoods, attracted tourists and transformed Rekawa into one of Sri Lanka’s best-known nature tourism destinations.
The Rekawa Turtle Conservation Project, launched on September 2, 1996, by the Turtle Conservation Project (TCP) in partnership with the Department of Wildlife Conservation and the Rekawa community, marked its 30th anniversary last week, demonstrating how biodiversity protection can become an economic opportunity for communities living alongside sensitive natural resources.
Speaking at the anniversary celebrations, TCP chairman Thushan Kapurusinghe said the project currently provides direct livelihoods for 28 people, but its economic impact extends considerably beyond those directly employed by the programme.
‘Today, 28 people directly earn their livelihood through this project. But its impact goes far beyond those 28 individuals, Kapurusinghe said.
He pointed to the transformation of the area over the past three decades, arguing that the growth of tourism in the community has been closely linked to the turtle conservation programme.
‘If you travel from Netolpitiya to this area, you can clearly see how much the village has transformed over the years. There is no doubt that the growth of tourism in this community has been driven by the Turtle Conservation Project, he said.
The economic significance of Rekawa lies in its ability to convert the protection of a natural asset into a source of recurring community income.
Tourists do not come to Rekawa merely to see a beach. They come to witness sea turtles emerging from the ocean and nesting in their natural habitat—a tourism experience that depends directly on the continued protection of the nesting beach.
Kapurusinghe said tour operators regularly bring visitors to Rekawa, with some tourists traveling there after visiting major attractions such as the Kandy Esala Perahera.
The model represents a fundamental shift from viewing conservation as an expense to recognising biodiversity as an economic asset that can generate sustainable livelihoods when properly managed.
The 30th anniversary celebration at the Rekawa Turtle Conservation Project Information Centre brought together Southern Wildlife Region Director of the Department of Wildlife Conservation Channa Suraweera, government officials, conservation organisations, community representatives and long-standing supporters of the initiative.
Individuals who had contributed to the project over the past three decades were also recognised with awards for their service to sea turtle and environmental conservation.
Rekawa’s experience has attracted international attention because of precisely this combination of conservation and community development. The project has received international recognition as well as the Green Employment Award from the Ministry of Environment and Natural Resources. Earlier international recognition included a highly commended ‘Tourism for Tomorrow’ award, while the project’s turtle-watch programme subsequently received further recognition in responsible tourism and conservation.
Business
Ceylinco Life brings premium policyholders closer to the magic of the Kandy Perahera
For an evening, the timeless spectacle of the Kandy Esala Perahera unfolded at especially close quarters for a select group of Ceylinco Life’s most valued policyholders and their families, who were hosted to an exclusive viewing experience by the Company’s Customer Relations Division.
Held at the Ceylinco Life Kandy Branch on Kings Street, the annual event coincided with the second Randoli Perahera, bringing guests into the heart of one of Sri Lanka’s most spectacular expressions of culture, tradition and pageantry.
As the procession made its majestic passage through the streets of Kandy, guests enjoyed VIP seating at a prime vantage point, allowing them to experience the colour, movement and grandeur of the Perahera up close. The evening offered a fitting setting for Ceylinco Life to celebrate its enduring relationships with its premium clientele.
The experience extended well beyond the spectacle outside. Guests were welcomed with evening refreshments and an exclusive dinner buffet presented by the prestigious Amaya Hills Resort, adding a fine-dining dimension to an already memorable evening.
Families, too, were at the centre of the occasion. A private movie theatre experience provided entertainment for children and adults alike, while each attending family received a beautifully framed family photograph as a personalised souvenir, a tangible reminder of an evening shared together against the backdrop of one of Sri Lanka’s most treasured cultural traditions.
Besides being a much sought-after opportunity to watch the Perahera, the occasion was an expression of appreciation. Through its continuing Customer Relationship Management activities, Ceylinco Life seeks to create experiences that recognise its most valued policyholders not simply as customers, but as relationships to be celebrated and nurtured. And on this particular August evening, the enduring splendour of the Kandy Perahera provided the perfect setting for doing just that.
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