Connect with us

Business

Govt to list several state-run hotels on CSE

Published

on

Stocks of poultry companies increase in price

By Hiran H.Senewiratne 

The government would roll out a plan to  list several state-run hotels on the Colombo Stock Exchange (CSE)  through Selendiva Leisure, a holding company controlled by the government in June this year, Treasury Secretary Sajith Attygalle said yesterday speaking at the opening day of the Invest Sri Lanka Forum held virtually.

“The company will take over underutilized, underperforming, such as prime real estate, restructure them and raise capital,” Attygalle told the investment forum organized by the Ceylon Chamber of Commerce, CSE and the Board of Investment. 

Sri Lanka created a fully state-run entity  called ” Selendiva” to take over various state assets and act as the ‘investment arm’ of the government, he said.

Grand Oriental Hotels is part of the Bank of Ceylon, which was expropriated shortly after independence in an early violation of property rights. Further, private investors are expected to be allowed to buy around 49 percent of Selendiva Leisure.

Amid those developments, trading activity at the CSE was positive and witnessed some buying interest for certain stocks during the day. Both induces moved upwards. All Share Price Index upn by 24.5 points and S and P SL20 up by 6.7 points. Turnover stood at Rs 2.1 billion with a single crossing. The crossing took place in Watawala Plantation, which crossed 500,000 shares to the tune of Rs 27.75 million and its share price traded at Rs 55.50.

In the retail market top five companies that mainly contributed to the turnover were  LOLC Rs 189.9 milli0n (496,000 shares traded), Expolanka Rs 170.6 million (3.5 million shares traded), Central Finance Rs 120 million (1.2 million shares traded), Royal Ceramic Rs 96 million (2.5 million shares traded) and Lanka Wall Tiles Rs 82.3 million (1.2 million shares traded.   During the day 114.9 million share volumes changed hands in 25136 transactions. 

Notably, poultry companies showed significant price appreciation due to an anticipated fish shortage following the sinking or half submerge of  X Press Pearl  ship in Sri Lanka waters, stock market analysts said.  



Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Private taxi operators at BIA call for speedy rental relief as tourist arrivals dwindle

Published

on

Tourists in SL: Dwindling numbers

Private taxi operators at Bandaranaike International Airport are calling for urgent rental relief, stating that they are struggling to sustain operations after paying nearly Rs. 19 million in monthly rental fees amid a sharp decline in tourist arrivals during the off-season.

The operators said tourist arrivals have dropped by nearly 80%, severely affecting their income and making it difficult to continue meeting high operational costs.

“Only a small number of tourists are now arriving at the airport, and a majority of them are being taken by metered taxi operators, who pay only around Rs. 700 per ride as fees to Airport and Aviation Services, an operator said.

According to the operators, the six long-standing private taxi service providers at the airport each pay monthly rentals ranging from approximately Rs. 2.9 million to Rs. 4 million. In addition, they are required to maintain a minimum a fleet of six vehicles along with dedicated airport staff.

“What we are requesting is a temporary reduction in monthly rental payments for around three to four months until tourist arrivals improve and the industry returns to normal, they said.

The operators noted that they have been operating at the airport for more than two decades, providing transport services to both local and international travelers, while metered taxi services entered the airport transport sector only about two years ago.

They also alleged that metered taxi operators have been granted more favourable operating conditions and questioned the process through which those operators were allowed to operate at the airport.

Operators argue that the present financial burden has become unsustainable, given the sharp drop in business volumes and what they describe as an uneven competitive environment within the airport transport system.

“What we are requesting is a 50% reduction in monthly rental fees for a period of at least three months, they said.

They also raised concerns about the quality and condition of some vehicles operated by metered taxi providers.

“Passengers are often unaware of the condition of some of these vehicles until they enter them, which can compromise safety standards, one operator claimed.

In contrast, the private airport taxi operators say they maintain newer vehicles and employ experienced, professionally trained drivers to ensure higher standards of passenger safety and service quality.

The operators warned that failure to address the issue could have wider economic and social consequences. The six service providers collectively employ around 250 staff, and continued financial pressure may lead to job losses and a reduction in organised airport transport services.

By Hiran H Senewiratne

Continue Reading

Business

Refurbished AAC Call Box declared open

Published

on

The operation of Automobile Association of Ceylon(AAC) Call Boxes, in the past had provided yeoman service to many motorists including during the era of British planters. AAC services for members are a motoring security when they travel.

The Call Box in Nuwara Eliya was recently refurbished to provide a better and improved service to the Members in the area and the touring public. Now from this Call Box the motorists could get Road Side Assistance, Valuation Reports, Technical Advice and also issuance of International Driving Permits.

The refurbished Call Box at Nuwara Eliya was declared open by Dhammika Attygalle, President of the Association in the presence of S V Ganesh – Vice President, several Executive Committee members, Puthrasigamani, Life Member of the Association, Eng. C S Samarasekera of RDA- Nuwara Eliya, Devapriya Hettiarachchi, Secretary (AAC) and Eng. C L Liyanasuriya – Chief Engineer(AAC).

The services from the Nuwara Eliya Call Box are available from 8.00am to 5.00pm.

Call Technical Officer Sampath Madagama on 0767315696.

Continue Reading

Business

Ceylon Chamber of Commerce to host Sri Lanka Climate Summit 2026

Published

on

From Risk to Opportunity: Mainstreaming Climate Action into Sri Lanka’s Growth Story

As climate rules tighten globally and investor expectations shift from commitment to compliance, climate action is now directly tied to trade, competitiveness, and access to finance. Against this backdrop, The Ceylon Chamber of Commerce will host the second edition of the Sri Lanka Climate Summit on 9 June 2026 at the Taj Samudra Hotel, convening policymakers, industry leaders, financiers, and technical experts to focus on pathways for integrating climate action into Sri Lanka’s growth story.

Held as a biennial platform, the Summit returns this year under the theme “From Risk to Opportunity: Mainstreaming Climate Action into Sri Lanka’s Growth Story.” While the inaugural edition in 2024 focused on building awareness and advocacy, the 2026 Summit shifts the conversation toward implementation, technical readiness, and compliance as climate-related obligations begin to directly influence access to markets, finance, and investment.

Rather than treating sustainability as a standalone agenda, this year’s discussions will explore how climate considerations are becoming embedded across core areas of business and economic decision-making, from infrastructure and trade to finance, governance, digitalisation, agriculture, and supply chains.

Continue Reading

Trending