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LOLC Holdings’ positive numbers boost bourse

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By Hiran H. Senewiratne

CSE trading started on a positive note and continued that way for around half an hour yesterday as a result of top blue- chip company LOLC Holdings showing positive numbers in its internal financial statement. But the CSE later turned negative following data released on the state’s latest tax revision, stock market analysts said.

LOLC Holdings, which has interests in financial services, leisure and property, including foreign operations, reported profits of Rs 39 billion for the March 2022 quarter, up 442 per cent from a year earlier. As a result, other companies also started performing well during the early part of the day, stock analysts said.

Several stock market investors are worried about the Corporate Gain Tax that has been increased to 30 per cent while previously in 2019 it was 24 per cent. Further, other tax systems, such as, the Inland Revenue Tax, Withholding Tax and the Value Added Tax are also likely to be revised, stock analysts added.

Further, Lanka IOC share prices also appreciated with the latest fuel price hike due to the increase in global oil prices, which recorded US $ 120 per barrel. Its shares increased by six per cent or Rs 3.80. Its share prices shot up to Rs 59.50 from Rs 55.70.

Amid those developments stocks slipped within the first hour of trade yesterday as a liquid index fell over 1 per cent, dragged down by weak sentiments following the decision to hike rates to 2019 levels.

The main All- Share Price index fell by 43.4 points and the liquid S&P SL20 index slipped 1.1 per cent or 21.4 points. Market generated a turnover of Rs 1.2 billion with a single crossing. The crossing was reported in Cargills, which crossed 150,000 shares to the tune of Rs 24.2 million; its shares traded at Rs 161.

In the retail market top seven companies that mainly contributed to the turnover were; Browns Investments Rs 310 million (30.8 million shares traded), Expolanka Holdings Rs 207 million (979,000 shares traded), LOLC Holdings Rs 66.2 million (111,000 shares traded), Lanka IOC Rs 65 million (1.1 million shares traded), LOLC Finance Rs 51.4 million (5.9 million shares traded), Aitken Spence Rs 40 million (476,000 shares traded) and Dialog Rs 31.7 million (4.3 million shares traded). During the day 77 million share volumes changed hands in 14000 transactions.

It said high net worth and institutional investor participation was noted in Commercial Bank, JKH and Printcare. Mixed interest was observed in Expolanka Holdings, Lanka IOC and JKH, while retail interest was noted in Browns Investments, LOLC Finance and SMB Leasing voting and nonvoting.

The Food, Beverage and Tobacco sector was the top contributor to the market turnover (due to Browns Investments), while the sector index lost 2.21 per cent. The share price of Browns Investments decreased by Rs. 40 cents (3.85 per cent) to close at Rs. 10.

The Transportation sector was the second highest contributor to the market turnover (due to Expolanka Holdings) while the sector index decreased by 2.91 per cent. The share price of Expolanka Holdings lost Rs 6.50 (2.92 per cent) to close at Rs. 216.25.

Separately Royal Ceramics announced an interim dividend of 75 cents per share, while Malwatte Valley Plantations and United Motors Lanka announced their final dividends of 12 cents and 50 cents per share respectively.

Yesterday, the Central Bank announced the US dollar rate. The buying rate was Rs 355.12 and the selling rate Rs 365.09

Top losers were Expolanka, John Keells and Commercial Bank.



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Sri Lanka worthy of being ranked as the world’s top holiday spot – cricketing great Wasim Akram

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Cricketing great Wasim Akram being felicitated by chairman Softlogic Life Ashok Pathirage.(R)

Pakistani cricketing legend Wasim Akram said Sri Lanka is the best tourist destination and is worthy of being ranked the world’s top holiday spot. ‘The island’s natural beauty and my decades-long connection with the country, are factors that enhance Sri Lanka’s value, he explained.

Speaking at a Softlogic Life investor forum in Colombo last Tuesday Akram said Sri Lanka remained one of his favourite destinations despite having traveled extensively around the world.

Akram who captained the Pakistani national cricket team and was celebrated as Softlogic Life’s brand ambassador said filming the company’s latest television commercial gave him another opportunity to experience some of the country’s most scenic locations, including Galle and the central highlands.

Akram said Sri Lanka’s landscapes, rivers and coastline were among the most beautiful he had beheld during his travels and expressed surprise that the country was not already considered one of the world’s leading tourism destinations.

Having first visited Sri Lanka as a teenager in 1985, Akram said he had returned numerous times over the years as a player, commentator and tourist. He added that he plans to continue visiting the island regularly and hopes to explore more of the east coast in the future.

Softlogic Life had impressive growth last year and is looking forward to introducing new life insurance products to the local market considering the increasing the aging population in Sri Lanka.

By Hiran H. Senewiratne

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Veenath Indrajith from the University of Sri Jayewardenepura wins the 2026 Saman Kelegama Memorial Research Grant

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Veenath Indrajith / Dr Saman Kelegama

Veenath Indrajith, a fourth-year undergraduate from the Department of Business Economics at the University of Sri Jayewardenepura, has been selected as the winner of the Saman Kelegama Memorial Research Grant for 2026. Indrajith’s academic and professional interests lie in economics, finance, investment, and policy-oriented research. In addition to his undergraduate studies, he is currently pursuing the Chartered Accountancy qualification in Sri Lanka, demonstrating a strong commitment to analytical rigour and professional excellence. He aspires to contribute to evidence-based policymaking through applied economic research.

Indrajith’s research study, titled “Small Vehicle Businesses and Household Investors Using the Second-Hand Car Market as an Alternative Investment Method in the Colombo District of Sri Lanka,” will adopt a qualitative research approach to explore the motivations, experiences, perceived returns, and risks associated with investing in used vehicles. By analysing household-level decision-making and investment behaviour, the research aims to shed light on a relatively underexplored area of Sri Lanka’s alternative investment landscape. The findings are expected to provide valuable insights for policymakers, particularly in relation to financial literacy, household investment strategies, and the development and regulation of alternative investment markets in Sri Lanka.

The Saman Kelegama Memorial Research Grant, established in 2018, honours the legacy of the late Dr. Saman Kelegama, former Executive Director of the Institute of Policy Studies of Sri Lanka (IPS), whose work significantly shaped public policy discourse on socio-economic development in Sri Lanka and the broader South Asian region. The grant is awarded annually to an outstanding undergraduate student from a Sri Lankan university, with the aim of encouraging innovative, policy-relevant research and nurturing the next generation of policy thinkers. As part of this grant, Indrajith will receive training and mentoring from IPS senior researchers to complete the proposed study.

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Delmege Consumer partners with Daraz

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Signing ceremony -  from Left to Right - Dushan Khadagammege, Head of Retail and Supply Chain,  Daraz, with the team from the  Delmege Group comprising  Baratha Piyadigama Group Head of Marketing, Shanaka Rajapaksha Manager Marketing Delmege Consumer, Atheeq Kabeer Manager E- Commerce and Digital Marketing .

Delmege Consumer, the flagship FMCG cluster of the Delmege Group, has evolved into one of Sri Lanka’s most trusted household names, building lasting relationships with communities across the island through a diverse portfolio of quality products that have become an integral part of consumers’ everyday lives for generations. Renowned for enriching households with Delmege’s own brands, leading local brands, and world-renowned international brands, the company continues to strengthen its presence, reputation, and connection with consumers nationwide.

A key strength of the FMCG cluster lies in the strong and enduring partnerships it has cultivated with suppliers, enabling the company to establish a responsive, time-sensitive, and mutually beneficial distribution network that has made a significant impact across Sri Lanka. Through its extensive reach and customer-focused approach, Delmege Consumer serves retail, wholesale, HoReCa, export, and modern trade channels, supported by flexible channel management strategies and winning consumer-centric propositions that cater to evolving market needs.

Further strengthening its distribution network and expanding its digital footprint, Delmege Consumer has partnered with Daraz, Sri Lanka’s leading e-commerce platform, to offer customers a more convenient, seamless, and accessible way to purchase its extensive range of FMCG products online.

Commenting on the partnership, Anil Meegahage, CEO of Delmege Consumer, stated:

“At Delmege Consumer, we are committed to innovation, continuously strengthening our product portfolio, and enhancing customer convenience and experience. Our partnership with Daraz enables us to serve customers across the country more efficiently by providing them with an easy, secure, and reliable platform to purchase trusted Delmege FMCG products online.”

Adding further, Baratha Piyadigama, Head of Group Marketing, Delmege, said:

“This partnership with Daraz marks another important milestone in our journey to enhance brand positioning, visibility, and awareness, especially at a time when digital and online commerce continue to gain significant momentum. As one of Sri Lanka’s leading FMCG distributors, we are proud to extend our trusted portfolio of products into the digital space through Daraz, ensuring customers across the island can conveniently access their favourite products with just a few clicks.”

Delmege’s extensive FMCG portfolio includes well-known Delmege branded products such as Canned Fish, Hiru Kahata Tea, Delmege Soya, Flavours and Colours, Delmege Pasta,

Delmege Noodles, and Salt, together with the much-loved Motha range of dessert ingredients, beverages, and mixes. The company also represents globally renowned international brands including Kellogg’s cereals such as Corn Flakes, Muesli, and Oats; Pringles; and the Ferrero portfolio featuring Ferrero Rocher, Nutella, Kinder Joy, and Tic Tac. Through its diverse and trusted brand portfolio, Delmege Consumer continues to reinforce its position as one of Sri Lanka’s leading FMCG companies.

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