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JKH shares seen as affected by speculation relating to Adani Group-linked transaction

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By Hiran H. Senewiratne

The stock market yesterday witnessed a downward trend due to speculation pertaining to a JKH transaction with the Adani Group, wherein the Adani Group had built a container terminal at the Colombo Port. This factor was seen as adversely impacting JKH stocks since a legal battle is presumably looming against the Adani Group initiated by a US based company, market analysts said.

US prosecutors on Wednesday charged Indian billionaire Gautam Adani with involvement in a plan to pay more than US $ 250 million in bribes to Indian government officials to win solar energy contracts, and concealing the plan as the group sought money from US investors, reports said.

Amid those developments both indices moved downwards. The All Share Price Index went down by 187.6 points, while S and P SL20 declined by 72.85 points. Turnover stood at Rs 2.1 billion with three crossings. Those crossings were reported in Galle Face Capital Partners, which crossed 6.8 million shares crossed to the tune of Rs 217.6 million; its shares traded at Rs 22, Samapth Bank 815,000 shares crossed for Rs 74.4 million; its shares traded at Rs 92 and Richard Pieris 1.58 million shares crossed to the tune of Rs 39 million;its shares traded at Rs 21.

In the retail market top seven companies that mainly contributed to the turnover were; JKH Rs 326 million (16.8 million shares traded), CIC Holdings Rs 168 million (2.1 million shares traded), Sampath Bank 151 million (1.7 million shares traded), Ceylon Cold Stores Rs 84.5 million (1.2 million shares traded), Seylan Bank Rs 76.4 million (1.2 million shares traded), Commercial Bank Rs 58.9 million (573,000 shares traded). During the day 85.1 million share volumes changed hands in 15900 transactions.

It is said that the manufacturing sector was the highest contributor towards the turnover, especially because of JKH and CIC Holdings, while the banking sector was the second largest contributor to the turnover.

Yesterday, the rupee opened at Rs 291.00/05 to the US dollar from 291.00/10 to the US dollar last Friday, dealers said, while bond yields were stable.

A bond maturing on 15.09.2027 was quoted at 10.80/85 percent, up from 10.75/85 percent. A bond maturing on 15.02.2028 was quoted at 11.05/15 percent. A bond maturing on 15.09.2029 was quoted at 11.35/45 percent, up from 11.25/40 percent.



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A sustained wave of Indian assistance to Sri Lanka showcases defining shift in developmental diplomacy

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Transport Minister Bimal Rathnayake and Indian High Commissioner Santosh Jha at the plaque unveiling ceremony for the Moragahakanda Bridge project, supported by Indian grant assistance.

By Sanath Nanayakkare

An evolving approach to regional diplomacy was brought into sharp focus with the recent foundation-laying ceremony for the Moragahakanda Bridge in Matale.

Jointly launched by Indian High Commissioner Santosh Jha and Minister of Transport, Highways and Urban Development Bimal Rathnayake, this 175-metre span is far more than a routine civil engineering project. It serves as the physical manifestation of a broader USD 450 million reconstruction package deployed by India in the wake of Cyclone Ditwah, which severely fractured the island’s transport arteries.

Foreign aid is too often discussed in cold, macroeconomic abstractions. Yet, every so often, a consistent pattern of targeted assistance alters the landscape of bilateral relations, offering a clear window into how regional partnerships evolve out of necessity and goodwill.

Across the country today, a remarkable narrative of multi-layered cooperation is unfolding.

From critical post-disaster infrastructure and maritime routes to grassroots agricultural uplift and institutional capacity-building, India’s developmental footprint is shifting unmistakably toward an organic, people-centric model of shared resilience.

What distinguishes this latest wave of assistance is its deliberate pivot from emergency support to permanent, climate-resilient transformation. When Cyclone Ditwah initially paralysed regional connectivity, India’s immediate response was marked by the rapid deployment of temporary Bailey bridges.

Today, that swift humanitarian intervention has matured into a structural blueprint: the Moragahakanda project stands as the vanguard of 13 permanent bridges being built across Sri Lanka’s provinces by IRCON International Limited, complemented by upcoming railway upgrades and modern signaling systems backed by a USD 250 million Line of Credit.

The true signature of this diplomatic shift lies in its breadth, operating simultaneously across multiple tiers of society:

Institutional Governance: Delegations of Sri Lankan parliamentarians and senior administrative officers regularly travel to India to study public policy frameworks, legislative systems, and administrative practices.

Economic Lifelines: Financial mechanisms, such as viability gap funding for the Nagapattinam-to-Kankesanthurai passenger ferry service, continue to shrink geographical distances, reviving coastal commerce and tourism.

Grassroots Empowerment: Specialised capacity-building programmes tailored for local stakeholders – ranging from state officials to rural dairy farmers -ensure that development reaches deep into the island’s hinterlands.

By aligning immediate disaster relief with long-term infrastructure, institutional capacity, and human capital, India and Sri Lanka are demonstrating how neighbours can build safer, more connected futures together, grounded firmly in mutual respect and tangible progress.

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Bring your own bag to book fair, CEA urges

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By Ifham Nizam

The Central Environmental Authority (CEA) yesterday urged visitors to the Colombo International Book Fair to bring reusable bags to carry their purchases, as part of a drive to reduce single-use plastic waste at the event.

CEA Director General R. S. P. Kapila Rajapaksha said large quantities of plastic, particularly “sili sili” bags, had been used to carry books at previous book fairs.

“We urge visitors to bring an environmentally friendly, reusable bag when they come to buy books. This simple step can help reduce the use of single-use plastic and protect the environment,” Rajapaksha said.

The book fair opens on September 25, with the CEA and the Sri Lanka Book Publishers’ Association launching an awareness programme targeting book sellers, food vendors and visitors.

The programme will be conducted under the theme “Read Smart, Carry Smart”, focusing on reducing polythene and plastic use throughout the exhibition.

The CEA said the use of plastic bags is also subject to regulations issued under the Consumer Affairs Authority Act. Gazette Extraordinary No. 2456/41, dated October 1, 2025, prohibits the free distribution of handled “sili sili” bags to consumers. Where such bags are sold, the charge must be included in the customer’s bill.

The CEA said food outlets at the book fair would also be required to comply with regulations prohibiting a range of single-use plastic products.

These include plastic straws and stirrers, disposable plastic plates, cups, spoons, forks and knives, as well as polythene-based food wrappers commonly known as lunch sheets.

The CEA said it had discussed the requirements with relevant stakeholders and reached agreement to ensure that prohibited products are not used at food outlets within the exhibition premises.

The authority urged both traders and visitors to cooperate with the initiative and help make this year’s book fair a more environmentally responsible event.

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Japanese investor Yoshimichi Watanabe backs Hunas Holdings

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Yoshimichi Watanabe / Tanaka - Director Hunas Holdings PLC

Partnership signals renewed foreign investor confidence in Sri Lanka as a destination and in the long-term growth of its hospitality sector

Japanese investor Yoshimichi Watanabe has entered into a partnership with Colombo Stock Exchange-listed Hunas Holdings PLC, in a move that comes as the diversified conglomerate prepares a significant expansion of its hospitality and real estate interests in Sri Lanka.

The partnership brings foreign capital and international market experience into one of Sri Lanka’s fastest-diversifying listed groups at a point when the Group is actively building out its pipeline across both sectors. Hunas Holdings is currently evaluating a series of hospitality and real estate developments in Sri Lanka, with further announcements expected in the coming months.

Hunas Holdings PLC operates across hospitality and leisure, real estate, renewable energy and agriculture, with a hotel portfolio that includes Hunas Falls in Elkaduwa

For Sri Lanka, the significance of the partnership extends beyond the two parties. Inbound investment of this nature, from an investor with direct and sustained experience of the market, is a measure of returning confidence in the country as a destination and in the underlying fundamentals of its hospitality sector, at a time when the industry is repositioning towards higher-value, experience-led travel.

Watanabe brings investment experience across e-commerce, hospitality and real estate in Japan and in international markets including Bali, Indonesia. He has also maintained a relationship with Sri Lanka over many years, having made multiple investments in the country, giving him first-hand insight into its business environment, regulatory landscape and long-term potential.

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