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JKH records EBITDA growth of 45% to Rs.9.29 billion in Q2

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Summarised below are some of the key operational and financial highlights of JKH performance during the quarter under review:Group EBITDA recorded a notable improvement to Rs.9.29 billion during the quarter under review, which is an increase of 45 per cent against the comparative period of last year [2021/22 Q2: Rs.6.41 billion], demonstrating the strong underlying cash operational performance of the Group.

While the second quarter of the previous year was partially disrupted on account of the lockdowns due to the pandemic, the overall operating indicators in most businesses demonstrated activity at pre-pandemic levels.With the exception of the Property industry group, the Group’s businesses recorded strong growth in EBITDA, compared to the second quarter of the previous year, on the back of a continued recovery momentum.

Group PBT recorded a decline of 10 per cent to Rs.2.56 billion in the quarter under review, mainly on account of the second quarter of the previous year including revenue and profit recognition from the handover of the residential apartment units at ‘Cinnamon Life’, and the higher finance expenses due to the significant increase in interest rates on working capital facilities, particularly in the Leisure and Retail industry groups. Further, the PBT of the Holding Company was impacted by the translation impact of the IFC loan interest payment and the notional non-cash interest charged on the convertible debentures issued to HWIC Asia Fund (HWIC) in August 2022, in line with the accounting treatment, due to significant difference between the market interest rates and the three per cent interest accrued on the instrument.

In August 2022, the Government gazetted regulations under the Casino Business (Regulation) Act of 2010 to formalise the process of issuing of licences and monitoring of operations for casinos in Sri Lanka. With the regularising of Gaming, the Group will proceed with finalising arrangements with prospective gaming operators to operate at ‘Cinnamon Life’. Similar to the experience with Integrated Resorts in other Asian countries, ‘Cinnamon Life’ has the potential to transform Colombo as a destination for leisure and entertainment and lead to significant foreign exchange earnings for the country.

The profitability of the Transportation industry group recorded an increase driven by the Group’s Bunkering business, which recorded higher margins, and the Group’s Ports and Shipping business, where both businesses benefitted from the translation impact due to the depreciation of the Rupee against the previous year.

The Leisure industry group recorded a continued turnaround in performance primarily driven by the Maldivian Resorts segment, supported by higher occupancy.The Consumer Foods industry group continued its recovery momentum with the Beverages and Frozen Confectionery businesses recording growth in volumes.The performance of the Supermarket business was driven by growth in same store sales through a combination of higher basket values on account of inflation and an increase in customer footfall.

The Property industry group recorded a decline in profitability as the second quarter of the previous year included revenue and profit recognition from the handover of the residential apartment units at ‘Cinnamon Life’.



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ASUS launches ‘cutting edge’ laptops in Sri Lanka for AI acceleration

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The newly launched ASUS ROG laptops

ASUS and Republic of Gamers (ROG) Sri Lanka officially launched their latest suite of computing innovations, setting a new benchmark for ultra-portability, AI acceleration, and next-generation gaming experiences in the country.

Unveiled at Shangri La, Colombo on May 7th, the lineup includes five cutting-edge laptops designed to cater to students, professionals, gamers, and creators, marking a transformative leap for Sri Lanka’s tech landscape.

Leading the charge is the ASUS Zenbook A14, the world’s lightest Copilot+ PC at just 980 grams. Featuring a durable Ceraluminum chassis, Snapdragon X processor, and a 45 TOPS NPU for AI tasks, it boasts an ASUS Lumina OLED display, up to 32-hour battery life, Wi-Fi 7, and 1 TB SSD storage. Meanwhile, the gaming-focused ROG Strix SCAR 16/18 and Zephyrus G16 pack Intel Core Ultra 9 processors and NVIDIA RTX 5090 GPUs, paired with 240Hz Mini-LED displays, customizable RGB lighting, and advanced cooling systems for marathon sessions.

“Our mission is to push boundaries in performance and design,” said Eric Ou, ASUS South Asia’s Regional Head, emphasizing the brand’s commitment to innovation. The new devices blend portability with power, offering AI-enhanced workflows and gaming prowess.With multi-day battery life and groundbreaking specs, ASUS aims to redefine how Sri Lankans work, create, and play.

By Sanath Nanayakkare

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Direct Kitchens opens flagship Colombo showroom blending Australian luxury design with local elegance

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Ceremonial opening of the Direct Kitchens showroom in Colombo, by Nalin Herath, Chairman and Managing Director of Home Lands Group

Direct Kitchens, Melbourne’s premier designer and manufacturer of high-end custom kitchens, marked a significant milestone with the launch of its first international showroom in Colombo, bringing over 40 years of world-class kitchen design expertise to sophisticated Sri Lankan homeowners. Located at No. 314, R.A. De Mel Mawatha, Colombo 03, the new Experience Centre reflects the brand’s commitment to luxury, craftsmanship, and innovation.

The soft launch of the showroom was attended by select invitees including Nalin Herath, Chairman and Managing Director of Home Lands Group, who graced the occasion as the Chief Guest, along with industry professionals and well-wishers.

For over three decades, Direct Kitchens has earned a stellar reputation in Australia for creating bespoke, luxurious kitchens that are as functional as they are visually stunning. From sleek modern designs to timeless French provincial and country styles, each kitchen is crafted with precision, using the finest materials and cutting-edge technology. The brand also specializes in a range of custom interior solutions including pantry units, wardrobes, closets, laundry units, and more—tailored to suit the lifestyle and aesthetic of each client. Direct Kitchens Sri Lanka is a subsidiary of Home Lands Group, Sri Lanka’s leading real estate solutions provider.

The Colombo Experience Centre marks the beginning of Direct Kitchens’ global journey in redefining sophisticated living spaces. Visitors to the showroom can explore a curated selection of premium kitchen displays, cabinetry styles, finishes, and fittings—guided by a team of expert designers who offer personalized consultations and complete project management services.

Speaking at the launch, Amaya Herath, Director of Direct Kitchens Sri Lanka, stated, “We are proud to bring the legacy of Direct Kitchens to Sri Lanka and offer homeowners here access to a new standard in luxury interior solutions. Our Experience Centre is more than just a showroom—it’s a space where creativity, lifestyle, and functionality meet. With our decades of expertise and design excellence, we look forward to helping our clients transform their homes into elegant, purposeful spaces.”

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W15 Ambuluwawa- Magic, mystery and magnificence

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Harold Samuel, a British real estate mogul is credited with the phrase- location, location, location, a sentiment that will forever be pertinent and one that is evident when you behold W15 Ambuluwawa, a white clad stunning boutique hotel perched atop an outcrop of land in Gampola, offering 360-degree views of hills wearing jade and crowns of white clouds. It is a magical place that invites guests to leave the ordinary behind and step into the extraordinary and be enveloped with an utter stillness of being and a peace that transcends quiet.

W15 Ambuluwawa is indeed a rare find, a gem that has been recently added to adorn the W15 Collection, a group of luxurious boutique hotels dotted across some of the most beautiful locations in Sri Lanka. The first boutique hotel to be opened within the Ambuluwawa biodiversity project, W15 Ambuluwawa, with one master suite, 4 deluxe and 3 standard rooms, has been designed with responsibility to the surroundings and sustainability at its core. The ingenuity of architectural genius is displayed from every space in this breathtaking property as the exterior beauty is captured through floor to ceiling windows, a spacious patio and a sundeck.

Guests can expect W15’s signature exceptional service with a large staff cadre and a personal butler assigned to each room, an extraordinary al-fresco dining experience where tastebuds will be tantalized while nature paints the skies with vivid hues and birdsong provides a harmony of background music. Evenings are for breathtaking sunsets to be imbued into your restless soul while you sip a sundowner on the patio.

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