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Notable buying interest in CSE

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By Hiran H.Senewiratne

CSE trading activities were positive throughout yesterday, however lower investor participation was noted due to Covid 19 health concerns in the country. Most investors were not involved in trading activities but significant buying interest was noted at the end of the day’s trading, stock market analysts said.

The Colombo stock market on the previous day suffered one of its steepest falls in recent weeks despite healthy turnover. However, the market witnessed some healthy performances with a reasonable turnover level despite the current pandemic situation.

Amid those developments both indices were positive. The All Share Price Index went up by 15.13 points and S and P SL20 rose by 4.06 points. Turnover stood at Rs. 2.3 billion sans a single crossing. In the retail market seven companies that mainly contributed to the turnover were, Renuka Capital Rs. 483.1 million (48.9 million shares traded), Expolanka Holdings Rs. 275.8 million (3.4 million shares traded), Dipped Products Rs. 126.5 million (2.3 million shares traded), Sierra Cables Rs. 119.9 million (16.1 million shares traded), Ambeon Capital Rs. 106.2 million (4.5 million shares traded), LOLC Holdings Rs. 86.4 million (198.000 shares traded), and Ambeon Holdings Rs. 78.6 million (1.9 million shares traded).

During the day top contributors to the All Share Price Index were Ambeon Capital (10.5 points), Commercial Leasing and Finance (5.73 points) and LOLC Finance (3.5 points). During the day 162.7 million share volumes changed hands in 30000 transactions.

It said that high net worth and institutional investor participation was noted in Sunshine Holdings, Renuka Capital and Royal Ceramics. Mixed interest was observed in Expolanka Holdings and LOLC Holdings, while retail interest was noted in Industrial Asphalts, SMB Leasing non-voting and Browns Investments. Foreign participation in market activity remained at subdued levels with foreigners closing as net sellers.

Meanwhile, the US dollar is selling at Rs. 199.9160, which rate always fluctuates due to the volatility in the market and the deficit in US dollars in the country.



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Business

The Kingsbury, Colombo Appoints Nandana Wirasinha as GM

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The Kingsbury announced on Friday the appointment of Nandana Wirasinha as its new General Manager. This pivotal appointment heralds an exciting chapter in the hotel’s journey as it continues to redefine excellence and innovation in Sri Lanka’s luxury hospitality landscape.

Wirasinha brings with him nearly three decades of international hospitality experience, having held senior leadership roles with some of the world’s most esteemed hotel brands. His distinguished career spans all facets of hotel management, including operations, revenue strategy, guest engagement, culinary excellence and operational efficiency. Of particular note are his accomplishments at Jumeirah Hotels & Resorts in Dubai and Abu Dhabi, where he played a key role in delivering benchmark-setting service and guest satisfaction.

Renowned for his ability to build high-performing teams and drive sustained revenue growth, Wirasinha has a proven track record of elevating service standards across the board. During his tenure in the UAE, he led multiple award-winning restaurants in Abu Dhabi, four of which received the coveted Triple Black Hat status in the prestigious ‘What’s On Abu Dhabi Black Hat Guide’—widely considered the region’s equivalent of the Michelin Guide. His leadership has consistently translated into enhanced guest satisfaction, operational excellence, and outstanding business performance.

A committed lifelong learner, Wirasinha is an alumnus of Cornell University with a Certificate in Hotel Real Estate Investment and Asset Management. He also holds an Associate of Arts Degree in Tourism and Hospitality from The Emirates Academy, has completed the Cornell CXO Leadership Programme, and is currently pursuing a Master’s in Business Management at the Postgraduate Institute of Management, Sri Lanka.

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Sri Lankan F&B Exporters Participate in Toronto trade show

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More than 15 Sri Lankan food and beverage export companies participated in the SIAL Canada 2025 trade show held at Enercare Exhibition Centre, Toronto, from April 29 to May 1, the SL consulate in Toropnto said.

SIAL Canada is one of the major annual trade shows in the food and beverage sector in Canada, attracting over 1,000 exhibitors and brands from 44 countries, with more than 21,000 professionals from 77 countries in attendance, and representation from all Canadian provinces.

The Consul General visited the trade show and met with the representatives of Sri Lankan companies supporting their efforts to expand their business network with key supply chains and leading retail business entities in the Canadian market.

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ComBank launches timely vehicle leasing promotion

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As new vehicles begin arriving in the country after a lapse of several years, the Commercial Bank of Ceylon has announced it will support the aspirations of vehicle buyers with an attractive leasing package for a limited duration.

The Bank said it would offer special interest rates, customized payment plans, discounts on first-year insurance premiums, a waiver of 50% on commission fees with a minimum charge of Rs 10,000 on Letters of Credit opened, and a free credit card with joining fee and the first year’s annual fee waived off, for leasing facilities obtained before 31st May 2025.

Quick and hassle-free approval of leasing facilities and special discounts on vehicle spare parts would also be part of the package for these customers, the Bank said. These special benefits would apply to leases of unregistered vehicles.

Commercial Bank offers one of the lowest rentals on vehicle leases, Rs 1,598 for every Rs 100,000 for a seven-year lease.

Commercial Bank leasing customers have the option of tailor-made leasing options that suit individual income patterns, via the Bank’s Super Leasing and Hybrid Leasing facilities.

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