Business
JKH and Expolanka Holdings drive share market on an otherwise dull day
By Hiran H.Senewiratne
Stock market activities were sluggish throughout yesterday but two major blue- chip companies, JKH and Expolanka Holdings, drove the market considerably.However, banking stocks which were the most sought after over the last few weeks, noted some selling pressure, and that trend shifted to a few blue- chips during the day, market analysts said.
Amid those developments both indices moved slightly upwards. All Share Price Index went up by 6 points while the S and P SL-20 rose by 0.22 points.
Turnover stood at Rs 1.47 billion with three crossings. Those crossings were reported in JKH, which crossed 2.27 million shares to the tune of Rs 440 million; its shares traded at Rs 194, Expolanka Holdings 485,000 shares crossed for Rs 67.3 million; its shares sold at Rs 140 and LB Finance crossed 930,000 shares to the tune of Rs 56.7 million.
In the retail market top seven companies that mainly contributed to the turnover were; Expolanka Holdings Rs 135 million (966,000 shares traded), JKH Rs 132 million (680,000 shares traded), Lanka IOC Rs 85 million (809,000 shares traded), NTB Rs 60 million (574,000 shares traded), Lanka Milk Food Rs 60 million (2.4 million shares traded), Distilleries Rs 37.5 million (1.4 million shares traded) and Haycarb Rs 28.2 million (392,000 shares traded). During the day 31 million share volumes changed hands in 7789 transactions.
During the day, JKH crossings and retail market trading contributed more than 30 percent to the turnover, while Expolanka Holdings’ share price significantly appreciated. Its share price moved up to Rs 8 or six percent. Its share price rose to Rs 143.50 from Rs 135.50.
Seylan Bank said it was planning to raise up to Rs 10 billion through a Basel III compliant debenture sale. Subject to the approval of the shareholders, the bank will issue 100,000,000 Tier II listed, rated, unsecured, subordinated, redeemable debentures with a non-viability conversion at Rs. 100 each, to raise Rs. 10 billion.
“One hundred million (100,000,000) debentures will be issued in one or more issuances until 31st December 2024, the bank said.
“The size, tenure/maturity period (minimum five years), coupon rate/s, frequency of coupon/s etc as determined by the Board will be notified prior to the opening of each issue.”
Yesterday the rupee opened at Rs 311.10/20 to the US dollar, from Rs 311.30/50 on Wednesday, dealers said.
Bond yields were broadly steady. A bond maturing on 01.08.2026 was quoted at 10.80/11.00 percent. A bond maturing on 15.09.2027 was quoted at 11.95/12.05 percent from 12.05/15 percent. A bond maturing on 01.07.2028 was quoted at 12.20/25 percent.
Business
IceWarp expands into Sri Lanka, fostering European innovation in collaboration with FentonsIT
IceWarp, a global leader in business communication solutions, has officially launched its cutting-edge platform in Sri Lanka, bringing European expertise in email and collaboration solutions to support the country’s evolving business landscape.
This expansion is driven by a strategic partnership with Fentons Information Technology (FIT), the Information Technology arm of Hayleys Fentons Limited.
The grand launch event held at The Kingsbury Colombo on 4th April, 2025, was graced by several distinguished guests, including Chief Guest Mohan Pandithage, Chairman and Chief Executive of Hayleys PLC.
The presence of Adam Paclt, Global CEO of IceWarp, and Pramod Sharda, CEO for India and the Middle East of IceWarp, along with their global team, highlighted the significance of this expansion. Industry experts, government officials, corporate leaders, and CIOs from the banking, financial services and insurance sectors were in attendance as well, reflecting strong local interest in IceWarp’s European expertise.
With this launch, Sri Lankan businesses now have access to an affordable, scalable and secure alternative to Microsoft 365 and Google Workspace. IceWarp’s advanced Collaboration Suite integrates a wide range of tools into a single, unified platform designed to streamline communication and boost productivity. Offering flexible hybrid deployment options and cost-efficient solution, IceWarp enables organisations to optimise their operations without compromising security or functionality.
Eventistry Sports, a trailblazer in innovative sporting events, has unveiled the Sri Lanka Padel League (SLPL), the nation’s first franchise-based padel tournament, set to debut in June 2025. This groundbreaking league promises to redefine Sri Lanka’s sports landscape by creating a dynamic national platform for athletes while fostering unity among fans, brands, and communities.
The SLPL will showcase six franchise teams, each embodying the spirit of iconic Sri Lankan locales: the Colombo Chargers, Yala Rangers, Hikkaduwa Riders, Ella Hawks, Arugambay Vipers, and Trinco Warriors. These teams will not only ignite regional pride but also unite the country through a shared passion for padel—a fast-paced racquet sport merging tennis and squash, played on enclosed courts.
“The SLPL is more than a league; it’s a movement,” declared Karin Wijeratne, Director of Eventistry Sports. “By blending franchise sports with Sri Lanka’s vibrant culture, we’re creating a platform where players gain national recognition, fans rally behind their hometown heroes, and brands engage with communities in meaningful ways.”
The league’s launch on June 21–23, 2025, at Colombo’s Padel House courts (CR&FC) will kick off with three days of high-octane matches, preceded by a star-studded player auction on May 16th at The Vault, Colombo City Centre. Local talent—both professional and intermediate—will be drafted by franchise owners, with international registrations now open to elevate the competition’s global appeal.
Please log in to: www.slpadelleague.com and social media: @SriLankaPadelLeague (Facebook & Instagram) for more information.
Ceylon Energy and HJT China have successfully completed the Mahiyangana-Kappalthurei 33kV power distribution lines and the Uhana Gantry as part of Sri Lanka’s Supporting Electricity Supply Reliability Improvement Project (SESRIP). Funded by the Asian Development Bank ($42 million), SESRIP aims to expand energy access in underserved regions, including conflict-affected areas and provinces like Uva and North Central.
The project’s infrastructure spans over 270 km of 33kV lines, 13 switching gantries, and 2,372 km of low-voltage extensions.
The projects connect 35,000+ households and improve reliability for 493,000+ consumers; integrates renewables to reduce losses.
The projects’ notable components include: Mahiyangana-Bibila Line: 36 km with 147 steel towers and Kappalthurei-Sixth Mile Post Line: 14 km with 58 towers.
Ceylon Energy Chairman Madushanka Fernando hailed it as a ‘new beginning of a brighter era’, emphasising the project’s role in uplifting rural communities and driving sustainable development.
The initiative underscores Sri Lanka’s commitment to inclusive, reliable energy and climate resilience.
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The sun will be directly overhead Colombo, Awissawella, Talawakelle, Dimbula, Galakumbura and Dambagalla at about 12:12 noon today [07]
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