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Heavy buying interest in ACL Cables and LOLC Group counters

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By Hiran H.Senewiratne

The bullish trend continued at the CSE yesterday as well due to positive market conditions, which was attributed to heavy buying interest on several companies/counters, including ACL Cables and LOLC Group companies, stock market analysts said, On the previous day, the CSE achieved a new milestone in its benchmark index ASPI, which crossed the 10,000 points level as investors turned bullish with active trading on expectations of improved corporate earnings despite the impact of the pandemic.

As a result, CSE market capitalization crossed the 50 percent year to date growth to 51.22 per cent or Rs. 4.47 trillion. The Central Bank’s certain policy adjustments for the increase of foreign reserves and positive quarterly results of many companies enabled the market to achieve new records, market analysts said.

ACL Cables shares appreciated by 18 percent or Rs 10.50. Its shares started trading at Rs 56.90 and suddenly shot up to Rs 67.40. Two LOLC Group companies, Commercial Leasing and Finance and Browns Investments were the main contributors to the All Share Price Index. Commercial Leasing contributed 30 points and Browns Investments contributed 26 points to the All Share Price Index. Meanwhile, Browns Investments share price appreciated by seven percent of 80 cents. Its shares started trading at Rs 10.70 and at the end of the day they moved to Rs 11.50.

Amid those developments both indices moved upwards. The All Share Price Index went up by 76.95 points and S and P SL20 rose by 17.95 points. Turnover stood at Rs 6.7 billion with two crossings. Those crossings were reported in Renuka Hotel PLC, which crossed 388,000 shares to the tune of Rs 35.7 million and its shares traded at Rs 92 and Richard Pieris two million shares crossed for Rs 35 million and its shares traded at Rs 17.50.

In the retail market, five companies that mainly contributed to the turnover were, Browns Investments Rs 1.28 billion (114 million shares traded), ACL Cables Rs 940 million (14.7 million shares traded), Expolanka Holdings Rs 809 million (3.6 million shares traded), Dipped Products Rs 281 million (5.3 million shares traded) and Hayley Rs 231 million (2.1 million shares traded). During the day 272.2 million share volumes changed hands in 46000 transactions.

It said high net worth and institutional investor participation was noted in JKH, HNB non-voting and Expolanka Holdings. Mixed interest was observed in Vallibel One, ACL Cables and LOLC Holdings, while retail interest was noted in Commercial Leasing and Finance and Browns Investments.

Meanwhile, Lanka Credit and Business Finance Limited (LCBF) offered up to Rs 125 million in ordinary shares at Rs 4.00 at the close of the opening day after over subscription, issue managers NDB Investment Bank said.

The IPO had attracted over Rs 500 million of applications a few hours after opening yesterday and was to close at 1630 hours. NDB Investment Bank is the financial advisor to the offer. NDB Investment Bank said it had helped the firm’s acquisition by the current owners and had helped in capital infusion to make a turnaround in the firm from a previously distressed state.

Yesterday the US dollar rate was Rs 203, which was the maximum controlled price imposed by the Central Bank to maintain and control the price escalations of essential items.



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SLAF, Aviyana Ceylon partner to elevate high-end sports tourism with Eagles’ Monsoon Cup 2026

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-Sports tourism gets a boost: dignitaries at the sponsorship-formalizing ceremony

Aviyana Ceylon, Sri Lanka’s upcoming ultra-luxury seven-star hospitality project, has stepped decisively into the country’s high-end sports tourism space by coming on board as the principal sponsor of the prestigious Eagles’ Monsoon Cup Golf Tournament 2026, in partnership with the Sri Lanka Air Force (SLAF).

The international-standard golf tournament is scheduled to be held on January 11, 2026, and is expected to attract diplomats, corporate leaders, high-net-worth individuals and overseas golfers, reinforcing Sri Lanka’s positioning as an emerging premium leisure and sporting destination.

Under the patronage of Aviyana Ceylon chairman, Dr. Thisara Hewawasam, the company has committed a Rs. 2.5 million sponsorship, marking one of the most significant private-sector investments in elite golf events in recent years.

The sponsorship was formalised at a ceremonial cheque handover held at the Sri Lanka Air Force Headquarters, where Dr. Hewawasam officially handed over the cheque to Commander of the Air Force, Air Marshal Bandu Edirisinghe.

“Our decision to support the Eagles’ Monsoon Cup goes beyond sport. It is a strategic investment in positioning Sri Lanka as a global luxury tourism and lifestyle destination, Dr. Hewawasam said.

“International sporting events with strong networking potential play a critical role in shaping perceptions, attracting premium travelers and enhancing the country’s brand equity. Aviyana Ceylon is committed to supporting platforms that elevate Sri Lanka’s global standing, he added.

Senior SLAF officials, including chairman, Eagles’ Golf Links, Air Commodore Erandika Gunawardhana, secretary of the Air Force Sports Council and Director Media, Group Captain Eranda Geeganage, Secretary of Eagles’ Golf Links, Group Captain Asanka Ratnayake and SLAF Golf Secretary, Wing Commander R.A.S.T.A. Fernando, along with Aviyana Ceylon representatives and invited guests were present at the event.

Air Marshal Bandu Edirisinghe welcomed the partnership, noting that collaboration between the military and private sector is vital in developing sports diplomacy and tourism-led economic activity.

“Eagles’ Monsoon Cup has evolved into a premier sporting event that brings together global and local stakeholders. The support extended by Aviyana Ceylon strengthens our ability to host events of international calibre and contributes meaningfully to sports tourism and national image-building, the Air Force Commander said.

Beyond the golf tournament, the partnership opens the door to new experiential tourism initiatives, including a proposed collaboration to offer luxury helicopter tours for Aviyana Ceylon’s clientele, operated in coordination with the Sri Lanka Air Force.

According to Dr. Hewawasam, the concept aims to provide discerning travelers with exclusive aerial experiences showcasing Sri Lanka’s landscapes, coastlines and heritage.

“Luxury heli-tours represent a new dimension in experiential tourism. They allow us to present Sri Lanka’s natural beauty from a unique vantage point, appealing to high-value travelers seeking privacy, exclusivity and unforgettable experiences, he said.

Industry observers note that such initiatives align with global trends where luxury hospitality brands integrate sports, aviation and curated experiences to differentiate destinations and increase average tourist spend.

The Eagles’ Monsoon Cup is widely regarded as one of Sri Lanka’s most elite sporting events, functioning not only as a golf tournament but also as a high-level networking platform linking diplomacy, business and leisure.

By Ifham Nizam

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‘Tea industry largely spared cyclone damage’

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‘ Back to normal’ : A hill country tea estate.

Reports received by us from tea brokers, the Colombo Tea Traders’ Association (CTTA) and other sources indicated that, by and large, the local tea sector has been spared by the recent weather havoc.

The CTTA in their recent communications said that although Cyclone Ditwah affected parts of Sri Lanka, production, sales, and exports of tea continued without interruption. Clearly, the report said, the well established and highly coordinated industry network was fully geared to confront these issues. Production and sales continued with least disruption . While some tea growing areas in Uva, and the Central Province experienced some impact no loss in manufacturing capacity was reported.

Damage was largely confined to specific roads, resulting in temporary disruptions to transportation. Some key routes connecting plantations to the city have now been reopened and transport services are resuming normal operations. Harvesting operations are gradually returning to normal with access roads being reopened and temporary roads have been constructed to facilitate transport of green leaf to manufacturing locations.

The tea small holders we met said, although their production routine was affected, quick return to normalcy was ensured thanks to the established Tea Small Holders’ Association whose action ensured speedy return to normalcy. They reiterated production was near normal; and the dismal situation was now in a controlled position. They assured that such losses were minimal and could be recouped with minimum delay.

The CTTA further said the majority of plantations and small holder lands in the South of the island were spared cyclone damage. Harvesting, manufacturing and transportation activities are continuing as usual.

Trading activities at the Colombo Tea Auctions continue to be held although with a revised calendar. The tea auction previously set for the 1st week December has been rescheduled for the last week December. This adjustment ensures uninterrupted financial flows to the producers , including small holders, maintaining the momentum of the industry.

Forbes and Walker Tea Brokers reported a national tea sale average for November of Rs. 1137.22 ( USD3.89) which shows an increase of Rs.61.17 and USD 0.02 YOY. The total National Sale Average for the year 2025 ( to date) was recorded at Rs. 1,164.97( USD 3.88). a decline of Rs . 63.49 ( USD 0.17) against the corresponding year’s average of Rs. 1228.46 (USD4.05). The report further said all elevations recorded negative variances during the period January to November 2025 in comparison to the cumulative corresponding year of 2024 in both LKR and USD terms.

By Steve A. Morrell

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Elephant House Ice Cream marks historic launch in Australia

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Ceylon Cold Stores PLC (CCS), a subsidiary of John Keells Holdings PLC, has launched its iconic Elephant House Ice Cream in Australia, marking a bold step in the brand’s global expansion. The official unveiling took place on 4th December 2025 at the Novotel Melbourne Glen Waverley, where industry leaders, local distributors, and strategic partners gathered to celebrate the occasion. The launch was further honoured by the presence of Ms. Pradeepa Seram, Consul General Designate of Sri Lanka, and Ms. Cassandra Fernando, Member of the Australian Parliament, reflecting the deep and growing connections between Sri Lanka and Australia.

Elephant House is one of the highest-penetrated Sri Lankan brands among Sri Lankan communities living overseas, with a presence in 16 countries, including the Maldives, Australia, and the United Kingdom, among others.

In a significant milestone for the company, Elephant House Ice Cream is now manufactured locally in Melbourne to support wider availability in the ethnic market in Australia. The range currently available includes Vanilla, Karutha Kolomban, and Fruit and Nut in 500ml packs. This marks the first time in CCS’s 150-year legacy that Elephant House Ice Cream has been produced outside Sri Lanka, signalling a new chapter in the company’s international growth journey in collaboration with Millennium Imports Pty Ltd, it’s one of the franchise partners for Australia.

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