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Nestle Lanka goes private; ends 40-year listed status

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By Hiran H. Senewiratne

Nestle Lanka announced a decision to go private, ending its 40- year status as a listed company in the CSE. The move was made by the Nestle Lanka Board and is subject to shareholder and regulatory approvals, share market sources said.

Currently majority of its shares amounting to 91.95 per cent is owned by its parent company, Nestle S.A. The latter will purchase the remaining 8.05 per cent shares from those wishing to divest at Rs. 1,500 per share.

The public shareholding of 1983-listed Nestle Lanka is 8.05 per cent, held by 6,054 shareholders. As at December 31, 2022, net asset value per share was Rs. 199.95 (up from Rs. 157 in 2021).

The delisting was announced after the market closed with the share price unchanged at Rs. 1,120.25. In FY22, the highest price was Rs. 964.75 (down from Rs. 1,330 in FY21), lowest was Rs. 870 (versus Rs. 1,200 in FY21) and closed 2022 at Rs. 905, down from Rs. 1,215.50 in 2021.Earlier, announcing the company’s decision to delist from the CSE, a Nestle Lanka press release said, among other things:

‘The company has been actively seeking ways to have a more efficient operation to enhance its contribution to the country even further. Therefore, our Board of Directors has authorized the proposal to delist Nestlé Lanka from the Colombo Stock Exchange, subject to necessary approvals and clearances. The delisting will also help the company strengthen its focus on core business activities, whilst upholding Sri Lanka’s statutory reporting and compliance requirements.

“We would like to thank our valued shareholders for continuing to place their trust in us and for the constant support offered over the years. We strongly believe that this proposal is in the best interest of our shareholders and assure that they would be rewarded with an attractive and fair premium. As in the past, we will work with communities and bring high quality products to our valued Sri Lankan consumers, whilst doing good for the planet. We will continue to drive efficiencies whilst focusing on delivering on our promise to the country and its people” said Bernhard Stefan, Managing Director of Nestlé Lanka.

‘Driven by its purpose of ‘unlocking the power of food to enhance quality of life for everyone, today and for generations to come’, Nestlé has nourished generations of Sri Lankan families with high quality food and beverage products from early childhood to old age. Having started its operations in Sri Lanka in 1906, today, Nestlé has become an integral part of Sri Lankan lives. The company manufactures over 90% of its products sold in Sri Lanka locally at their state-of-the-art factory in Kurunegala, employing strict safety and quality controls.’

Amid those developments CSE trading activities were positive yesterday and the turnover recorded was the lowest after 52 weeks. Trading ended at 12 noon. Both indices moved upwards. The All- Share Price Index went up by 30.4 points and S and P SL20 rose by 26.7 points. Turnover stood at Rs 127 million without any crossings.

In the retail market top seven companies that mainly contributed to the turnover were, Melstacorp Rs 30.1 million (556,000 shares traded), Lanka IOC Rs 21.9 million (138,000 shares traded), Expolanka Holdings Rs 20.9 million (134,000 shares traded), Seylan Bank Rs 15.5 million (551,000 shares traded), Browns Investments Rs 13.5 million (2.5 million shares traded), Aitken Spence Hotels Rs12.1 million (206,000 shares traded) and Sampath Bank Rs 11.9 million (253,000 shares traded). During the day 12.7 million share volumes changed hands in 4500 transactions.

It is said high net worth and institutional investor participation was noted in JKH and Royal Ceramics. Mixed interest was observed in Lanka IOC, Expolanka Holdings and Dialog Axiata, while retail interest was noted in Browns Investments, SMB Leasing and LOLC Finance.

The Capital Goods sector was the top contributor to the market turnover (due to JKH and Royal Ceramics), while the sector index gained 0.75 per cent. The share price of John Keells Holdings increased by 25 cents to Rs. 135.75. The share price of Royal Ceramics appreciated by 20 cents to Rs. 27.

The Food, Beverage & Tobacco sector was the second highest contributor to the market turnover (due to Browns Investments), while the sector index increased by 0.79 per cent. The share price of Browns Investments recorded a gain of 10 cents to settle at Rs. 5.40.Yesterday the Central Bank’s US dollar buying rate was Rs 312.50 and the selling rate Rs 326.62.



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Samata Kotasak, Samata Ekakayak forums draw large crowds in Anuradhapura & Jaffna

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Members of the Jaffna Investor Forum Panel Discussion (L – R): Ms. Sheena Goonaratna, Senior Manager – External Relations, Securities & Exchange Commission; Niroshan Wijesundere, Executive Vice President – Marketing, Colombo Stock Exchange; A. Visaahan, Vice President – Research, Asha Securities (Pvt) Ltd; Thillainadarajah Luxchan, Senior Manager, NDB Wealth (Pvt)

The Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) have taken their ‘A Share for Everyone, A Unit for Everyone’ (Samata Kotasak, Samata Ekakayak) initiative to Anuradhapura and Jaffna through investor forums last week, as part of an ongoing islandwide effort to broaden investor participation. The forums were held on 10th September at the Golden Mango in Anuradhapura, and on 12th September at the Tilko Jaffna City Hotel. The forums attracted over 600 participants across both locations.

The “A Share for Everyone, A Unit for Everyone” concept, developed by the Chairman of the SEC, Sen. Prof. D.B.P.H. Dissabandara and launched in July of this year, aims to promote a shared commitment to creating wealth and value within a fair, efficient, orderly, and transparent capital market by ensuring broad and accessible participation for all.

As part of this initiative, the SEC and CSE will continue to host investor forums across the country to strengthen investor education and awareness while promoting broader participation in the capital market beyond the Western Province. By leveraging the CSE’s nationwide reach and the growing interest in equity investments, the programme will provide investors with greater access to Sri Lanka’s capital market through stockbroking firms and unit trust management companies.

“Traditionally, Sri Lankan investors have favoured conventional investment avenues, but it has yielded comparatively fewer returns than the capital market,” remarked Executive Vice President – Marketing, CSE, Niroshan Wijesundera, speaking on the Unit Trust and Stockbrokering firm outreach objectives of the broad-basing initiative.

“Over the medium to long term, capital markets have given higher returns. By setting aside small allocations to invest regularly through professionally managed vehicles such as unit trusts, first-time investors can participate in the capital market, receive higher returns in the medium-to-long-term, and gain experience and confidence. On the other hand, those with experience and knowledge can directly engage with the capital market through a stockbrokering firm. Traditional investments are liable to be taxed, whereas investments in the capital market are capital-gains tax free.”

Speaking on the favourable investment climate, he noted that the Sri Lankan capital market is at a relatively low Price-to-Earnings (P/E) ratio of 11.03x in a global context. “As covered in the presentations at the forums, the Sri Lankan capital market has demonstrated comparative resilience in the face of global market corrections, such as the Middle Eastern crisis. Sri Lanka has withstood bigger shocks, such as past crises, the war, COVID-19, the economic downturn, and the fuel crisis.’’

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“Pulle Madu” to medical school: record intake signals turning point for plantation sector welfare

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Many generations ago, an estate child’s first years began in a cloth hammock strung up near the rows of tea bushes, so a mother could keep working within earshot of her infant. Later a corner in a line room was converted to establish Pulle Madu, where infants and toddlers were sheltered to ensure that plucking by their mothers was not disrupted.

Today, fully equipped Child Development Centers (CDC’s) complete with qualified and trained CDC officers have replaced the old Pulle Madu, to offer children the same level of education and exposure that any child in a city avails. These children receive custodial care, and child development support through these CDC’s, while Early Childhood Centers (ECD) lay greater emphasis on structured early learning through a play-based curriculum, while also providing dedicated spaces for working mothers to breastfeed.

These Centers are the result of the collaborative efforts of the Regional Plantation Companies (RPCs), the Government of Sri Lanka, and key plantation-sector trade unions, including the Planters’ Association of Ceylon. Together, these stakeholders form the tripartite body that established the Planters’ Human Development Trust (PHDT) in 1992, and have since contributed to significant development across the 22 RPCs.

The RPCs collectively spend nearly Rs. 720 million annually to maintain these CDC’s, reflecting the sector’s continued investment in childhood development and the wellbeing of plantation communities. This foundation supports their continued education and health development and, in the long term, helps them progress towards successfully completing the GCE O/L and A/L examinations.

To date, primary school enrolment among children from plantation communities has reached 100%, while approximately 2–3% of students go on to pursue higher education at local universities. Over the past two years, nearly 250 children from plantation families have gained admission to university, marking the highest number recorded by the sector to date. Among them is a young man from Strathspey Estate, now training to be a doctor at Eastern University. “Everything I have achieved is a direct result of my parents’ tireless hard work,” he said, thanking his teachers and the scholarship grant that carried him through school, whose identity is withheld in line with the programme’s standard practice for student privacy.

It also manifests powerfully in Roots to Wings, the university start-up scholarship initiative launched by PHDT in collaboration with the Planters’ Association and other industry partners. “Every year we saw bright students earn a place at university and then risk losing it, not for lack of ability, but because they couldn’t afford a laptop, a set of books, or even proper clothing to arrive on campus with dignity,” explained PHDT Director General Lal Perera. “To correct this situation, after careful study, we facilitated a scheme that bridges the most urgent gap. We cover the immediate start-up costs, while the Regional Plantation Companies, through their CEOs, ensure that the student is carried through to graduation. If a family loses estate housing when a parent retires, we don’t let that end a degree either. Students are granted extensions, and where needed, RPCs provide new housing, supported in part by Indian High Commission grants. Once a child has earned a place at university, we consider it our duty to make sure that place is never lost to circumstance.”

This scheme has become more than financial assistance; it is a lifeline of dignity, continuity, and hope. By addressing the hidden barriers that often derail promising futures, Roots to Wings ensures that talent from the plantation sector is not wasted but nurtured into leadership for tomorrow. It is a model of shared responsibility, where industry stakeholders collectively safeguard the aspirations of youth, transforming vulnerability into opportunity and circumstance into achievement.

The scheme costs an estimated LKR 10 to 15 million a year, funded by various industry stakeholders. The 2024 to 2025 cohort spans 35 Arts students, 22 in Commerce and Management, 13 in Drama and Theatre, 10 in Bio-systems, 7 in Music, 6 in ICT, four each in Medicine and Engineering, three in Engineering Technology, two in Law and 24 across other faculties, a spread once unimaginable on estates where literacy in PHDT’s target areas has climbed from 40 to 84 percent. Specialised degree pathways and vocational opportunities such as Uva Wellassa University’s Bachelor of Science Honours in Plantation Management, vocational training through the National Institute of Business Management and digital learning through the Open University of Sri Lanka has further empowered students with promising academic and career prospects.

The health figures tracked alongside the Department of Census and Statistics and the Family Health Bureau since 1992, shows infant mortality falling from 18.3 per 1,000 live births to 4.65, and under five mortality from 42.6 to 6.26. Maternal mortality, once as high as 150 per 100,000 live births, has fallen close to zero in most recent figures, and stillbirths have dropped from 40 per 1,000 deliveries to under five today. Nearly all deliveries now happen in health institutions, almost every mother receives antenatal care, and every child completes first year immunization, which are gains attributed to better roads, housing, welfare services and preventive healthcare across the estates.

Nutrition support has similarly evolved, with centers moving from contractor-supplied meal packets towards parent-prepared midday meals. A centrally managed kitchen model has also been piloted at Dessford Estate, with a second facility planned at Holyrood Estate. However, officials do acknowledge that nutrition among younger children remains the area needing the most continued investment.

The progress made in improving health outcomes, particularly in reducing infant mortality, is significant. This reflects the RPCs’ continued commitment to community development, which extends to supporting education through scholarship programmes. These initiatives, together with established healthcare and educational support systems, contribute to improving opportunities and outcomes for children and families across plantation communities.

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Ceylinco Life dominates NAFLIA 2026 winning  12 top honours, including 5 National Awards

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Ceylinco Life has reaffirmed its standing as a powerhouse of sales excellence in Sri Lanka’s life insurance industry, securing an outstanding 12 awards at the 2026 edition of the National Forum for Life Insurance Advisors (NAFLIA), including five National Awards that recognised its professionals as the best in the country.

The awards event saw Ceylinco Life’s sales professionals excel at both the Large Company and National levels, with the company claiming top honours across the Advisor, Supervisor and Branch Manager categories in both levels, while also producing two winners in the Large Company level in the Fast Starter Advisor category.

In the Advisor category, A. P. S. Wijayakumar secured first place at National and Large Company Level, while A. I. P. Manjula was placed second in both levels, giving Ceylinco Life four awards across the two tiers of recognition in this category.

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