Business
John Keells Hotels expects pent-up demand for travel and tourism once travel restrictions removed
John Keells Hotels PLC (KHL) saw the revenue momentum losing in both its Maldivian and Sri Lankan resort sectors during the June quarter (2Q22), reflecting the impact of COVID-19 third wave and the resulting restrictions on travel and leisure activities.
The group expects pent-up demand for travel and tourism once travel restrictions are removed.
KHL operates a portfolio of 12 luxury resorts in Sri Lanka and Maldives under the ‘Cinnamon Hotels and Resorts’ brand.
The group reported revenues of Rs.1.54 billion for the quarter under review compared to Rs.47.4 million in the year earlier period as all travel and leisure activities came to a grinding halt for a prolonged period in the corresponding quarter in 2020.
However, the June 2021 top line marked a sizeable decline from the revenues it generated in the previous quarter ended in March 2021, which was recorded at Rs.2.02 billion, when the Maldivian tourism sector was fast recovering while the Sri Lankan resorts were increasingly patronised by domestic travellers who began taking trips after almost a year of sheltering-in-place.
Re-opening of borders for international air travel little helped during the first half of 2021, as the arrival of foreign visitors was slower than expected.
Maldivian resorts sector witnessed some level of moderation in terms of visitors with the fresh outbreak of the virus in India, as India is a one of the key tourism source markets for Maldives.
Resorts in Maldives operate whilst adhering to the regulations issued by the authorities,” KHL said in a note to its interim financial statements. As a result, the revenues form the Sri Lankan resort sector declined to Rs.241.4 million in the June 2021 quarter compared to Rs.322.2 million in the March quarter in 2021, while the revenues in the Maldivian resorts fell to Rs.1.29 billion from Rs.1.70 billion in the March quarter.
However, the group expects pent-up demand for travel and tourism once travel restrictions are removed.Meanwhile, the refurbishing of Hikka Tranz by Cinnamon and the construction of Cinnamon Red Kandy are expected to recommence during 2Q22 and 2H23 respectively, while the group expects to make the most of its Cinnamon Bentota Beach after its re-opening as the border closures prevented realising its full potential at the time.
Business
Ceylinco Life agent among three global finalists for award
Ceylinco Life’s Ambalantota branch agent AIP Manjula has been named one of three global finalists for the prestigious Insurance Agent of the Year award at the 11th Asia Trusted Life Agents & Advisers Awards (ATLAA) 2026.
The recognition places a Sri Lankan insurance professional among the finalists in a regional field spanning South Asia, Southeast Asia, East Asia and the wider Asia-Pacific region.
Ceylinco Life said the achievement reflected the calibre and customer-focused approach of its agency force, while recognising Manjula’s professionalism and commitment to policyholders.
The award evaluates insurance agents on criteria extending beyond sales performance, including ethical conduct, client service, policy persistency, digital adoption, innovative practices and contributions to the insurance industry and community.
The awards are organised by Asia Advisers Network and Asia Insurance Review, with LIMRA as co-organiser. An independent judging and balloting process is monitored by KPMG as the official scrutineer. The judging panel comprises senior insurance executives, association presidents and industry experts from across the Asia-Pacific region.
Business
CEAT Kelani retains AA+ rating for sixth year
CEAT Kelani Holdings (CKH) has retained its National Long-Term Rating of ‘AA+(lka)’ with a Stable Outlook from Fitch Ratings for the sixth consecutive year, reflecting the company’s financial resilience and leading position in Sri Lanka’s pneumatic tyre market.
The ‘AA+(lka)’ rating, the second-highest on Fitch’s national scale, indicates a very strong capacity to meet financial commitments.
Fitch said CKH’s established market leadership and resilient financial profile remained key strengths, while noting its exposure to price-sensitive, cyclical and highly competitive markets.
The Stable Outlook reflects expectations that the company will maintain its market position despite rising input costs and increasing competition from imported tyres, while preserving adequate credit metrics during periods of weaker earnings and higher investment.
Fitch expects CKH’s established brand, extensive dealer network and adaptive pricing strategies to support its market position. Planned production facility upgrades are also expected to improve product quality, particularly in the radial tyre segment.
The rating agency expects near-term pressure on margins from higher raw material and energy costs but said the company’s low leverage and sound liquidity would provide a cushion.
CKH Chairman Chanaka De Silva said the rating reinforced the company’s focus on disciplined financial management, operational adaptability and long-term investment.
Business
SLT-MOBITEL Enterprise launches Premium Cloud
SLT-MOBITEL Enterprise, the enterprise services arm of Sri Lanka Telecom PLC, has launched its Premium Cloud service powered by Nutanix, aimed at helping Sri Lankan businesses modernise their IT infrastructure and accelerate digital transformation.
The service was unveiled at the Lanka Tech Summit 2026 held recently at ITC Ratnadipa, Colombo.
The Premium Cloud combines hybrid multi-cloud capabilities with enterprise-grade performance, enabling businesses to run mission-critical workloads, scale cloud deployments and strengthen business continuity through disaster recovery capabilities.
Hosted on SLT-MOBITEL’s Tier III data centre infrastructure, the platform is designed to provide enhanced security, reliability and flexibility while supporting the growing technology requirements of enterprises.
SLT-MOBITEL Enterprise said the platform would also support organisations seeking to adopt AI-ready capabilities and improve the management and performance of IT workloads.
A key feature of the launch was SLT-MOBITEL Enterprise joining the Nutanix Elevate Service Provider Program (NESPP), which the company said made it the first service provider in the region to join the programme.
Powered by Nutanix’s hybrid multicloud platform, the service enables application and data mobility across on-premises environments, public clouds and edge locations.
The company said the partnership combined Nutanix’s cloud technology with SLT-MOBITEL’s local expertise and support, strengthening its multi-cloud portfolio.
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