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First Capital books billion rupee profit after tax in record breaking year

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Results, helped by monetary policy easing, achieved against negative headwinds

First Capital Holdings PLC (FCH), a Janashakthi company, reported its best ever performance in the year ended Mar. 31, 2020 with its profit after tax topping the billion rupee mark, up from Rs. 8 million the previous year.

The company’s chairman, Mr. Nishan Fernando, said in a statement in the company’s recently published annual report that the record breaking performance was without doubt the best year to date, with the group’s impressive performance achieved against some obviously negative headwinds that saw the country posting what he called “sub-par economic growth” for the third consecutive year.

“Our ability to deliver consistent results even in tough times, is a testament to the group’s robust operating model,” Fernando said. “I am also convinced that the ongoing emphasis placed on strengthening each of our core businesses and firming up their positions within their immediate operating domain, has been a critical success factor for the group.

FCH is a full service investment bank providing a diverse range of advisory services and financial products. Its specialties include Capital Market Advisory, Wealth Management, Fixed Income and Equities serving an array of companies, institutions, government agencies, high net worth individuals and retail clients.

The superior performance enabled the company to pay its shareholders a total dividend of nine rupees per share for the year under review comprising a first interim of four rupees per share in Aug. 1919 and a second interim of five rupees per share in in June 2020 with a total dividend payout of Rs. 911.2 million.

Fernando said the outstanding performance was supported by a demonstrable improvement across all key metrics with revenue up to Rs. 5.22 billion from Rs. 4.17 billion a year earlier.

Operational highlights included channeling Rs. 336 billion worth of government securities to the public; assets under management reaching Rs. 26.4 billion; Rs. 42 billion raised through corporate debt structuring and placement; and Rs. 7.2 billion raised for listed debt IPOs.

He said he was particularly pleased with the performance of their primary dealer operation – First Capital Treasuries PLC, as a result of the Central Bank’s monetary policy easing in the latter part of 2019.

Focusing mainly on the unlisted debt market, their Corporate Advisory Unit leveraged on the opportunity to re-enter the listed debenture space after three years raising approx Rs. 7.25 billion by way of listed debentures.

Their wealth management unit had also made remarkable progress to deliver the best financial results to date. The wealth management clientele had shown a degree of maturity during the year for which he credited their efforts to raise market awareness.

He expected the Covid-19 pandemic will continue to dictate the country’s medium term economic outlook. Based on the assumption that at the very least, the existing monetary policy easing measures will remain in effect, he expected their group “to benefit from a highly conducive environment.”

The company’s Director/CEO Dilshan Fernando said that a continuation of the current monetary policy slant at least for the forthcoming financial year will benefit their group with the low interest rates offering strong growth potential. He also saw the opportunity to expand their corporate advisory services as businesses restructure in the post-Covid era.

“Also, as the equity market bottoms out, there is likely to be renewed interest in investing, especially from foreign investors over the coming months,” he said. “This will no doubt boost the prospects of our stock broking arm.”

The Janashakthi Groups owns over 75% of First Captal.

The company’s directors are Messrs. Nishan Fernando (Chairman – Independent non-executive) Dinesh Schaffter (MD) Dilshan Wirasekera (Director/CEO) Prakash Schaffter and Ramesh Schaffter (Non-independent, non-executive), Eardley Perera, Minette Perera, Chandana de Silva and Nishan de Mel (Independent non-executive directors).



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HNB partners IDEAL Motors to drive financial freedom through vehicle leasing solutions

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HNB, Senior Vice President/Head of Retail Banking, Kanchana Karunagama and Director of Legal & Corporate Affairs, Nimisha Welgama sharing the MoU, alongside the representatives from both organizations

HNB PLC, the leading private bank in Sri Lanka, has partnered with IDEAL Motors (Pvt) Limited to provide customers with attractive leasing solutions for brand-new vehicles & generators .

The partnership introduces a range of benefits designed to support individuals, entrepreneurs, and businesses seeking reliable vehicle and power solutions. Through this collaboration, customers can access structured lease facilities, special interest rates, free life insurance coverage, and attractive discounts through HNB General Insurance.

Commenting on the partnership, HNB, Senior Vice President/ Head of Retail Banking, Kanchana Karunagama, said, “At HNB, we believe that the right financial support can help people and businesses move forward with greater confidence. This partnership with IDEAL Motors shows our commitment to creating meaningful solutions that make vehicle and power investments more accessible, while helping our customers achieve their personal and business aspirations. By combining HNB’s financial expertise with IDEAL Motors’ industry capabilities, we are creating opportunities that support the ambitions of Sri Lankans and contribute towards a stronger, more connected economy.”

Customers purchasing vehicles through IDEAL Motors will also benefit from exclusive offers including free registration, and discounts on Bolero Maxx Pik-Up, Alfa Plus Load Carrier, Mahindra Pik-Up Single Cab, Mahindra Pik Up Double Cab, XUV 3XO vehicles, creating greater value throughout their ownership journey.

IDEAL Motors (Pvt) Limited, Director Legal and Corporate Affairs, Nimesha Welgama, said, “Our collaboration with HNB represents a shared commitment to supporting Sri Lankans in achieving greater financial independence through accessible ownership solutions. By combining IDEAL Motors’ mobility and power solutions with HNB’s financial expertise, we aim to empower individuals and businesses with opportunities that contribute to economic progress and community development. This partnership highlights our vision of creating lasting value by enabling customers to confidently invest in their future.”

With IDEAL Motors recognised for its diverse portfolio of automotive and power solutions, and HNB’s extensive expertise in financial services, the partnership aims to provide a seamless experience from selection to ownership, supported by flexible financing options and customer focused solutions.

The partnership further strengthens HNB’s commitment to supporting economic progress by providing financial solutions that enable customers to invest in personal mobility, commercial growth, and business continuity. Through collaborations with leading industry partners, HNB continues to expand opportunities for Sri Lankans while delivering a banking experience built around accessibility, trust, and value.

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Sri Lanka Insurance Corporation General and the Ministry of Education committed to protect Sri Lanka’s schoolchildren

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Sri Lanka Insurance Corporation General Ltd (SLICGL) and the Ministry of Education, Higher Education and Vocational Education share a commitment to protect Sri Lanka’s children throughout their school education. The pledge is delivered through the Suraksha Student Insurance Scheme, which protects over 4 million school children.

The Government of Sri Lanka, through the Ministry of Education, Higher Education and Vocational Education, provides the Suraksha Student Insurance Scheme free of charge to schoolchildren throughout the country. SLICGL is proud to partner with the Ministry in delivering this national initiative, which helps safeguard students against the financial impact of unforeseen circumstances.

Eligible students include those aged 5-21 years in Grades 1-13 from government schools, government-approved private schools, and Pirivena education, as well as students aged 4-21 years in assisted special schools.

The scheme provides hospitalisation, outpatient and critical illness cover, as well as personal accident cover for permanent and temporary disability, together with a life insurance benefit for children from low-income families on the death of a parent. Cover applies to incidents within and outside school premises.

For a child, an illness or accident can be far more than a temporary setback. It can place added pressure on a family and, in some circumstances, disrupt schooling. Suraksha acts as a safety net, giving children and their families greater peace of mind and helping them stay in school despite life’s uncertainties. The scheme is easily accessible through SLICGL’s islandwide network of 200 branches and customer service centres.

Children’s Day is a celebration of hope, the hope for every child to have the opportunity to learn, grow and build a better future. Celebrating children also means protection, not for a single day but for every day they spend in the classroom.

Commemorating Children’s Day, SLICGL extended support towards the educational needs of children at an underprivileged school. The project highlighted the company’s belief in protecting the future not only by being supportive when the unexpected happens, but also in helping create an environment in which children can learn, grow and fulfil their potential.

As Sri Lanka’s National Insurer, SLICGL’s role goes further than protecting people against risk. It is also about contributing to a stronger, safer and more resilient country as children’s education, wellbeing and aspirations contribute directly to help build the journey ahead.

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Vietjet launches Hanoi to Prague route via Almaty, expanding to Central Asia and Europe

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Inaugural celebrations for the new Prague to Almaty and Prague to Hanoi services mark an important milestone in Vietjet’s intercontinental network expansion

Vietjet, which already flies between Colombo and Ho Chi Minh City, has officially launched new services connecting Hanoi with Almaty, Kazakhstan, and Prague, Czech Republic, as well as Almaty with Prague, expanding its intercontinental network and marking its entry into the European Union. The new air links offer more affordable travel options while fostering greater tourism, trade and cultural exchange between Asia and Europe.

For Sri Lanka, the new routes widen the network that Vietjet is building out of Colombo. The airline has operated non-stop flights between Colombo and Ho Chi Minh City since August 2026, three times a week on Tuesdays, Thursdays and Saturdays, while its new Ho Chi Minh City to Maldives service via Colombo is scheduled to begin on 5 December 2026. With Hanoi now linked to Central Asia and Europe, Sri Lankan travellers have a growing choice of destinations reachable through Vietjet’s extensive network.

The inauguration ceremonies took place at Almaty International Airport and Václav Havel Airport Prague on 10 October, amid a warm welcome from local leaders, residents and visitors. The inaugural flights were greeted with traditional water cannon salutes and performances showcasing local cultural heritage, marking the beginning of new journeys connecting the three regions and welcoming international travellers to Vietnam. Passengers on the inaugural flights also received commemorative gifts from Vietjet and the airports, adding a special touch to their journeys.

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