Business
LOLC Holdings concludes largest non-bank debenture issue worth Rs. 10 billion

By Hiran H.Senewiratne
LOLC Holdings PLC concluded the largest non-bank listed debenture issue worth Rs. 10 billion. LOLC issued 75 million listed rated, senior, unsecured, redeemable debentures at Rs. 100 each with an option to offer a further 25 million debentures in the event of over-subscription of the initial amount, stock analysts said.
LOLC said that it received applications for over Rs. 10 billion and the issue was closed the previous day. The original plan was to raise Rs. 6.5 billion but LOLC increased it to Rs. 10 billion.NDB Investment Bank acted as the managers to the issue and as Joint Placement Agents. The other Placement Agent was People’s Bank Investment Banking Unit.The funds generated from the debenture issue are to be utilised for refinancing short term debt facilities as well as to strengthen the company’s short-term maturity buckets.The proceeds of up to Rs. 7.5 billion raised from the initial issue of debentures will be utilised by the company to re-finance an equal amount of short term/money market borrowings obtained from commercial banks in the country.
Meanwhile, CSE activities yesterday were almost flat and LOLC and Browns Investments dominated and contributed mainly to the All Share Price Index which went up by 61.58 points and S and P SL20 by 10.84 points. Browns Investments contributed 16 points to the All Share Price Index and LOLC contributed more than 11 points to the Index.
The turnover stood at Rs. 3.39 billion with a single crossing, reported in Sampath Bank, which crossed 826,000 shares to the tune of Rs. 131 million, its shares trading at Rs. 159.
In the retail market, top five companies that mainly contributed to the turnover were; Browns Investments Rs. 758 million (127 million shares traded), LOLC Rs. 613 million (1.5 million shares traded), Sampath Bank Rs. 213 million (1.3 million shares traded), JKH Rs. 164 million (one million shares traded) and TJLanka Rs. 157 million (3.6 million shares traded). During the day, 200 million share volumes changed hands in 24787 transactions.
It is believed that the market has now largely bottomed out and that it provides a good opportunity for investors to be appropriately positioned in fundamentally strong stocks that will outperform over the longer term. “Investors are advised to carefully revisit their portfolios and start exiting from fundamentally weak and non performing counters, while repositioning themselves in quality stocks with strong growth prospects, analysis said.
The Sri Lanka rupee closed at 196.50/197.00 to the US dollar in the one-week forward market on Thursday, while some bond yields edged up, dealers said. The rupee last closed in the spot market at 195.00/198.00 to the dollar on Wednesday.
‘There is no trading in the spot market with heavy moral suasion not to trade above 195 to the US dollar, market participants said.
Sri Lanka has printed a large volume of money, putting pressure on the rupee and triggering balance of payments deficits and downgrades, market sources said.
Business
ASUS launches ‘cutting edge’ laptops in Sri Lanka for AI acceleration

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

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.”
Business
W15 Ambuluwawa- Magic, mystery and magnificence

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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