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Indices dip as share market’s struggles intensify

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By Hiran H.Senewiratne

The share market struggled further yesterday with a sharper dip in indices although turnover improved. Consequently, both indices moved downwards. The All Share Price Index went down by 67.69 points while S and P SL20 declined by 34.2 points. Turnover stood at Rs 3.2 billion with six crossings.

Those crossings were reported in Ambeon Capital, where 60 million shares crossed to the tune of Rs 912 million; its shares traded at Rs 15.20, JKH 1.4 million shares crossed for Rs 283 million; its shares traded at Rs 202, Aitken Spence 480,000 shares crossed for Rs 64.8 million; its shares traded at Rs 135, an Alumax 2.3 million share volume changed hands for Rs. 27.7 million and its shares traded at Rs 12, Distilleries 1 million shares crossed for Rs 27.5 million and its shares traded at Rs 27.50 and NTB 225,000 shares crossed for Rs 27.45 million; its shares traded at Rs 122.

In the retail market top seven companies that mainly contributed to the turnover were; JKH Rs 139 million (890,000 shares traded), Hemas Holdings Rs 107 million (1.1 million shares traded), NTB Rs 84.4 million (674,000 shares traded), Browns Investments Rs 74.8 million (11.6 million shares traded), Resus Rs 72.8 million (3.2 million shares traded), Royal Ceramic Rs 67.7 million (1.8 million shares traded) and Lanka IOC Rs 66.5 million (506,000 shares traded). During the day 152 million share volumes changed hands in 16000 transactions.

It is said high net worth and institutional investor participation was noted in JKH, Piramal Glass and Sampath Bank. Mixed interest was observed in Sunshine Holdings, Browns Investments and Royal Ceramics while retail interest was noted in LOLC Finance, SMB Leasing nonvoting and Softlogic Capital.

The capital Goods sector was the top contributor to the market turnover while the sector index lost. The Banking sector was the second highest contributor to the market turnover while the sector index decreased. Piramal Glass, Sunshine Holdings and Browns Investments were also included among the top turnover contributors.

Yesterday the rupee opened weaker at Rs 301.50/302.50 to the US dollar, from Rs 301/302.00 the previous day, dealers said. Bond yields were down. A bond maturing on 15.12.2026 was quoted down at 9.90/10.00 percent from 9.95/10.10 percent. A bond maturing on 15.09.2027 was quoted down at 10.25/27 percent from 10.25/35 percent. A bond maturing on 15.03.2028 was quoted down at 10.50/60 percent 10.55/65. .A bond maturing on 15.05.2030 was quoted down at 11.45/50 percent from 11.40/55 percent.



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Central Bank of Sri Lanka launches Sustainable Finance Roadmap 2.0

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The Central Bank of Sri Lanka (CBSL) launched the Sustainable Finance Roadmap 2.0 on 05 May 2025 at the Atrium of CBSL, marking a key milestone in its continued efforts to foster a climate-resilient and socially inclusive financial system.

Recognising the growing implications of climate-related risks on price stability and financial system stability, CBSL introduced the first Sustainable Finance Roadmap in 2019, which provided foundational guidance to financial institutions on managing environmental, social, and governance (ESG) risks while encouraging financing for green and inclusive economic activities.

In light of evolving global developments, increasing access to climate-focused financing, and broader recognition of the social dimension of sustainability, CBSL developed the Sustainable Finance Roadmap 2.0 for the period 2025–2029, with technical and financial support from the International Finance Corporation (IFC) in partnership with the European Union, under the Accelerating Climate-Smart and Inclusive Infrastructure in South Asia (EU-ACSIIS) programme.

The Roadmap 2.0 was crafted in close collaboration with key stakeholders, including Securities and Exchange Commission of Sri Lanka (SEC), the Insurance Regulatory Commission of Sri Lanka (IRCSL), the Colombo Stock Exchange (CSE), the Sri Lanka Banks’ Association (SLBA), The Finance Houses Association of Sri Lanka (FHA), financial institutions and government bodies.

Focusing on Sri Lanka’s financial sector, the Roadmap 2.0 outlines a comprehensive set of prioritised actions for banking, non-banking, capital market, and insurance sectors. These actions are geared toward financing sustainable development, strengthening the management of environmental and social risks, enhancing reporting and disclosures, and improving governance and coordination across institutions.

The launch event was attended by distinguished guests including Gevorg Sargsyan, Country Manager for World Bank and IFC in Sri Lanka; officials of IFC and EU; Ministerial secretaries and senior officials of government institutions; national and international experts on sustainability; representatives of financial institutions and partner agencies.

Communications Department 05.05.2025 2 Delivering the keynote address, Dr. P. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, emphasised that the launch of Sustainable Finance Roadmap 2.0 marks a vital step in strengthening the resilience and inclusiveness of Sri Lanka’s financial sector amid growing climate and social challenges. He highlighted the need for urgent, coordinated action to integrate climate risk into financial decision-making and called for strong stakeholder collaboration to ensure effective implementation of the Roadmap 2.0.

Speaking at the event, Gevorg Sargsyan, Country Manager for World Bank and IFC in Sri Lanka, noted that as Sri Lanka strives for resilient and inclusive growth, sustainable finance will be crucial in creating jobs and driving economic expansion, while also positioning the country to be investment ready. He further highlighted that building a truly sustainable financial ecosystem in Sri Lanka is a collective endeavor – one that IFC has been a part of from inception, and remains committed in working together with the Central Bank of Sri Lanka and industry stakeholders to bring the shared vision of the Sustainable Finance Roadmap 2.0 to fruition.

The keynote was followed by a session providing an overview of the Sustainable Finance Roadmap 2.0, led by Ms. W. A. Dilrukshini, Assistant Governor of CBSL, and Ms. Wei Yuan, ESG Officer of IFC. A panel discussion on “Rolling Out the Sustainable Finance Roadmap 2.0” featured Dr. Thusitha Sugathapala, National Technical Expert on Sustainability; Ms. S. Ketawala, Additional Director of the Bank Supervision Department of CBSL; Thimal Perera, Chief Executive Officer of DFCC Bank; and Ms. Nilupa Perera, Chief Regulatory Officer -Designate of CSE.

The Sustainable Finance Roadmap 2.0 can be accessed using the following link:

https://www.cbsl.gov.lk/sites/default/files/cbslweb_documents/sustainable_finance_roadmap_2.0.pdf

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Browns Investments expands plantation sector with another Lkr 4.8 billion acquisition

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Browns Investments PLC (BIL), the investment arm of the LOLC Group, has announced a significant expansion of its plantation portfolio with the acquisition of FLMC Plantations (Pvt) Ltd (FLMC). The acquisition was completed on May 5, 2025, through a Share Sale and Purchase Agreement with Damro Manufacturing (Pvt) Ltd and Piyestra Furniture (Pvt) Ltd, for a total consideration of LKR 4.8 billion.

FLMC Plantations serves as the holding company and managing agent for Pussellawa Plantations Ltd (PPL) and Melfort Green Teas (Pvt) Ltd. PPL operates over 11,500 hectares of land across 24 estates, managing 5,400 hectares of tea, 5,900 hectares of rubber, and 200 hectares of minor crops. The estates collectively produce 4.3 million kilograms of made tea and 2.3 million kilograms of rubber annually. Strategically located in Sri Lanka’s renowned tea-growing regions, including Pussellawa, Udupussellawa, Nuwara Eliya, Kandy, Ruhuna, and Sabaragamuwa, these estates will further enhance BIL’s presence in the country’s agricultural landscape.

Commenting on the acquisition, the Group Managing Director/ CEO of LOLC Holdings PLC, Kapila Jayawardena stated, “Over the past two decades, LOLC Group has been guided by a bold vision of expansion and diversification, positioning ourselves as a global powerhouse across multiple sectors. Our acquisition of FLMC Plantations through Browns Investments PLC is another key milestone in strengthening our leadership in agriculture and plantations. With the addition of Pussellawa Plantations and Melfort Green Teas, we are not only expanding our footprint in Sri Lanka’s premier tea-growing regions but also enhancing our ability to supply premium-quality tea to global markets.’’

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VFS Global acquires majority stake in CiX Citizen Experience to create a centre of excellence

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(From left) Sergio Rodrigues, Chief Executive Officer, CiX Citizen Services and Zubin Karkaria, Founder & Chief Executive Officer, VFS Global in Sao Paulo, Brazil.

Supercharged Growth: VFS Global’s partnership will accelerate CiX’s expansion across Brazil, Latin America, and beyond.

Global Powerhouse: With VFS Global’s capital, technology, talent and scale, CiX Citizen Experience will bring new products and technology to the global marketplace.

Quality of Life Commitment: Both companies are dedicated to innovative solutions, including the use of AI, that improve citizens’ quality of life

Local Impact with Wider Reach: Collaboration to modernise services for citizens of Brazil by creating a centre of excellence that stands as a global example.

VFS Global, the global leader in trusted technology services, empowering secure global mobility for governments and citizens, has completed the acquisition of a majority stake in CiX Citizen Experience, a leading provider of digital and physical citizen services based in Brazil. This strategic acquisition marks a pivotal step in VFS Global’s expansion journey—particularly across Latin America (LATAM)—as it continues to broaden its capabilities and deepen its impact in the public service delivery space.

With nearly two decades of pioneering innovation in citizen services, CiX has established a strong presence in Brazil. This success will be further scaled across LATAM and other global markets, leveraging VFS Global’s international reach and operational excellence.

This acquisition is centred on driving transformation through advanced digital technologies, including AI and data-driven platforms. By uniting CiX’s cutting-edge digital capabilities with VFS Global’s extensive global infrastructure and expertise in managing complex service ecosystems, we are positioned to deliver next-generation, integrated solutions to public and private sector clients around the world.

For both companies’ client governments and partners, this will lead to enhanced, tailored solutions that improve citizen engagement, access, and satisfaction.

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