Business
Month-end profit-takings weigh down on bourse; Ambeon Capital figures in notable share transaction
Ambeon Capital said it had acquired a 6.8 percent stake of the ordinary voting shares of Ceylon Hotels Corporation for Rs 320 million. This constitutes 12,310,543 shares.Ambeon Holdings paid Rs 26 per share, the company said in a stock exchange filing.
A Ceylon Hotels Corporation stock was trading down 60 cents at Rs 32,whileAmbeon Holdings said it had acquired a 6.09 percent stake of the ordinary voting shares of The Kandy Hotels Corporation (1938) PLC for Rs 550.8 million.
This constitutes 45,904,622 of shares.
Ambeon Holdings paid Rs 12 per share, the company said in a stock exchange filing.
The Kandy Hotels Corporation (1938) stock was trading down 30 cents at Rs 17.50.
Kandy Hotels Company (1938), a subsidiary of Ceylon Hotels Corporation PLC, owns the Queen’s Hotel and Hotel Suisse located in Kandy.
Meanwhile CSE trading activities were down yesterday due to month end profit- takings.
Amid those developments both indices moved downwards. The All Share Price Index went down by 66.3 points while the S and P SL20 went down by 12.9 point. Turnover stood at Rs 5.09 billion with 12 twelve crossings. Top seven companies that mainly contributed to the turnover from crossings were; HNB 500,000 shares crossed to the tune of 202.5 million; its shares traded at Rs 405, Access Engineering 2.85 million shares crossed to the tune of Rs 163.5 million; its shares traded at Rs 67.30, Sampath Bank 1.1 million shares crossed for Rs 159.5 million; its shares traded at Rs 145, Royal Ceramics 1.9 million shares crossed to the tune of Rs 84 million; its shares traded at Rs 45.
LOLC 150,000 shares crossed to the tune of Rs 61.2 million; its shares sold at Rs 550, Sunshine Holdings two million shares crossed for Rs 61.2 million; its shares traded at Rs 30.60 and Ambeon Capital 1.5 million shares crossed to the tune of Rs 48 million; its shares traded at Rs 31.
In the retail market top seven companies that mainly contributed to the turnover were; Royal Ceramics Rs 236 million (5.2 million shares traded), Access Engineering Rs 166 million (2.9 million shares traded), Ambeon Capital Rs162 million (5.1 million shares traded), Sunshine Holdings Rs 143 million (4.6 million shares traded), LOLC Rs 121 million (218,000 shares traded), JKH Rs 106 million (4.4 million shares traded) and HNB Rs 90 million (231,000 shares traded). During the day 181 million shares volumes changed hands in 36600 transactions.
It is said that banking and services sectors performed well. In the banking sector, HNB performed well while in the services sector; Access Engineering performed well. Yesterday, rupee opened at Rs 301.95/302.05 to the US dollar in the spot market, weaker from Rs 301.85/302.00 the previous day, while bond yields were broadly steady, dealers said.
By Hiran H Senewiratne ✍️
Business
Low-floor buses launched to boost accessible public transport for differently-abled
A new low-floor bus service that gives priority to persons with disabilities and special needs was launched last Tuesday (21) from the Makumbura Multimodal Center (MMC).
The service was inaugurated under the patronage of Minister of Transport, Highways and Urban Development, Bimal Rathnayake.
Accordingly, ten specially designed low-floor buses have been introduced into the transport service today. These buses are specially designed so that wheelchair users, visually impaired passengers and also expectant women can board the bus with ease, the Transport Ministry said.
Each bus has 30 passenger seats and separate seating areas have been allocated for passengers using wheelchairs.
The pilot project operates on routes from Makumbura to Colombo Fort and from Makumbura to Kadawatha. These routes also cover major hospitals including the Colombo National Hospital and the Maharagama Apeksha Hospital.
Speaking at the event, Subject Minister Bimal Rathnayake stated that while these buses prioritize the differently-abled community, they will also provide a comfortable and reliable transport service for all passengers.
He also noted that 122 low-floor buses are planned to be introduced into service before the end of this year, and that in the future the service will be expanded to areas such as Kandy, Batticaloa, Matara and Jaffna.
Business
Nestlé Lanka Announces Change in Leadership
Nestlé Lanka Limited has announced the appointment of Manav Sahni as its Chairman and Managing Director effective 01 May 2026. He will be succeeding Bernie Stefan, who will be transitioning to a new global role within the Nestlé Group. Bernie Stefan led Nestlé’s Sri Lankan operations through a particularly challenging time since 2023 – and has successfully guided the company through a strategic turnaround, positioning it on a axis for sustainable growth.
Speaking on his tenure at Nestlé Lanka, Bernie commented “Leading Nestlé Lanka has been a deeply meaningful chapter in my Nestlé journey. I am grateful to have worked alongside an amazing and resilient team that continues to make a difference for Sri Lankans across the country. On a personal note, it was an amazing opportunity to live on this beautiful island and experience firsthand the openness, warmth and kindness of its people, which has been the highlight of my Nestlé career to date. As Nestlé Lanka marks 120 years of enriching Sri Lankan lives, it is especially humbling to reflect on the role we have played in building on this legacy – positively touching individuals and families, strengthening community partnerships, and advancing our sustainability commitments. I am thankful to my colleagues, partners and stakeholders for their collaboration and trust, and to the wider business community, including through my role as a Board Member of the Ceylon Chamber of Commerce, for the opportunity to reinforce Nestlé’s commitment to responsible corporate citizenship. I leave very confident in the strength of the team and the journey that lies ahead.”
Manav Sahni brings with him over 18 years of experience in the FMCG & Telecom sector. Prior to taking on the role as Chairman and Managing Director of Nestlé Lanka Limited, he has been heading Nestlé’s Dairy business for the South Asia Region, where he expertly managed a highly diverse portfolio, driving sustainable business transformation.
“I am thrilled to take on the role of Chairman and Managing Director of Nestlé Lanka at such a pivotal moment in its journey. Nestlé has been part of Sri Lankan households for generations, and I am excited to work with the team to continue delighting consumers with tasty and nutritious products, while strengthening the positive impact we create through our brands and initiatives.”
Business
Majestic Cineplex Returns Bigger Better and More Immersive
Ceylon Theatres will unveil the newly revamped Majestic Cineplex on the 29th of April 2026, beginning a new chapter for one of Sri Lanka’s best known cinema destinations. Located at Majestic City Colombo, Majestic Cineplex returns with major technology upgrades, enhanced comfort, and a range of premium viewing options, reinforcing Ceylon Theatres’ long standing reputation for raising the bar in cinema entertainment experiences in Sri Lanka. Accordingly, the upgraded Cineplex will be completely open to the public from 29th April 2026 onwards.
For generations of moviegoers, Majestic Cineplex has been a landmark venue in Colombo, and its latest transformation brings together the nostalgia of a familiar name with the excitement of a modern cinema experience. Leading the new screen line up is Majestic Platinum, which introduces Sri Lanka’s first and only digital LED cinema screen. Designed to deliver sharper visuals, deeper contrast, richer colour, and outstanding clarity, the auditorium features a 3D 4K Tricorne LED Cinema Screen together with Dolby Atmos surround sound. Majestic Platinum offers 226 seats, including 18 VIP recliner seats for those chasing a premium cinema experience.
The cineplex also features three additional theatres, each designed to offer a high quality movie experience. Majestic Superior includes Barco 2K projection, 3D capability, and 7.1 surround sound, with seating for 150 patrons. Majestic Ultra features the same advanced projection and audio systems with 149 seats. Majestic Gold offers a more private luxury setting with Barco 2K projection, 3D capability, DTSX surround sound, and 30 leather recliner seats, ideal for those looking for the most premium and exclusive experience.
Patrons can also enjoy an upgraded café experience with freshly prepared and ready to eat food available for purchase at the counter, along with convenience of being served to your seat. The new café experience, together with the upgraded theatres make for a more relaxed, enjoyable, and fulfilling experience for everyone.
Discussing the relaunch, Ganga Rathuvithana, General Manager Operations at Ceylon Theatres said, “Majestic Cineplex has always been a special part of Colombo’s cinema culture, and we are proud to welcome audiences back with an experience that reflects the future of movie entertainment. We have always believed in investing in the best available technology, from introducing Sri Lanka’s first 3D cinema to now launching the country’s first digital LED cinema screen. Our revamped Majestic Cineplex is designed to give movie lovers something truly special.”
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