Business

Orient Finance registers robust growth through FY 2021-22

Published

4 years ago

2022/06/24

Orient Finance PLC’s strong fundamentals and customer-centric business model continued to empower the company to overcome market challenges and register steady growth through the financial year 2021 – 22. The company reported Rs. 470.7 million in Profits Before Tax (PBT) for the year ending 31st March 2022, recording an outstanding growth of 143.20%, year-on-year. Net operating income stood at Rs. 1.7 billion, growing by 38.8% over the previous year. The Company concluded the year with assets of Rs. 17.8 billion, up from Rs. 14.9 billion in FY 2020 – 21.

“It gives me great pleasure to note that Orient Finance has been able to rise above ongoing challenges and maintain its growth momentum through FY 2021 – 22 to continue delivering greater value to all stakeholders. This has been made possible by our team’s steadfast commitment to catering to the evolving needs of our customers through various stages of their lives and shifting market realities, through our sound investment strategy and tailor-made financial solutions,” said Rajendra Theagarajah, Chairman of Orient Finance PLC. “Building on our strong fundamentals as part of the trusted Janashakthi Group, we look forward to making steady and sustained progress along this growth trajectory.”

“Our customers have always inspired us through their unwavering faith in the brand and the support they continue to extend to us, especially during the current health and financial crisis. This together with the ingenuity, commitment and relentless efforts of our team members gave us the strength to deliver such phenomenal performance in these trying times. Encouraged by these results, we would like to recommit ourselves to creating unmatched value for all our stakeholders,” said K. M. M. Jabir, Director and Chief Executive Officer of Orient Finance PLC.

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Business

USD 40.84m pipeline to secure aviation fuel supplies to BIA

Published

1 min ago

2026/10/2

Thilina Walpola

By Ifham Nizam

The government has cleared a USD 40.84 million and Rs. 8,548.75 million contract to build a dedicated aviation fuel pipeline from Muthurajawela to Bandaranaike International Airport (BIA), alongside a massive new fuel storage facility with a capacity of 92,000 cubic metres.

Energy Minister Anura Karunatilaka said the project represented a major investment in strengthening the infrastructure underpinning Sri Lanka’s aviation fuel supply and ensuring more reliable fuel availability at the country’s main international airport.

‘This project will provide the infrastructure required to strengthen the reliability and continuity of aviation fuel supplies to Bandaranaike International Airport, Karunatilaka said.

The contract has been awarded to China Petroleum Pipeline Engineering Company Limited, following an international competitive procurement process in which three bids were received.

The project will see a new aviation fuel storage tank complex constructed at Muthurajawela, together with the associated infrastructure required for handling and transferring aviation fuel.

Business

CSE activity up, turnover weak at Rs. 1.4 billion

Published

1 min ago

2026/10/2

Thilina Walpola

By Hiran H Senewiratne

Trading activity on the Colombo Stock Exchange (CSE) gathered pace yesterday as global fuel prices began to show signs of easing, according to market analysts.In this context, both indices moved upwards. All Share Price Index up by 67.97 points while S and P SL20 up by 8.30 points.

Turnover stood at Rs 1.4 billion with seven crossings. Those crossings were reported in Sampath Bank 1.7 million shares crossed to the tune of Rs 238 million and its share price traded at Rs 140, Access Engineering two million shares crossed to the tune of Rs 159 million and its share price traded at Rs 79.50, LOLC one million shares crossed to the tune of Rs 129 million and its share price traded at Rs 129, HNB 100,000 shares crossed to the tune of Rs 38.4 million and its share price traded at Rs 384, JKH 1.9 million shares crossed to the tune of Rs 35 million and its share price traded at Rs 18.60, Hayleys 100,000 shares crossed to the tune of Rs 22.50 million and its share price traded at Rs 225 and Richard Pieris 847,000 shares crossed to the tune of Rs 22 million and its share price traded at Rs 25.50.

In the retail market top seven companies that have mainly contributed to the turnover were Sampath Bank Rs 114 million (813,000 shares traded), JKH Rs 100 million (5.3 million shares traded) LB Finance Rs 49 million (325,000 shares traded), HNB Finance Rs 30 million (27 million shares traded), HNB Rs 27 million (70000 shares traded), NTB Rs 25 million (82000 shares traded ) and Lanka IOC Rs 21 million (666,000 shares traded). During the day 65 million shares volumes changed hands in 10433 transactions.

The Banking and manufacturing sector counters performed well. In the banking sector Sampath Bank let the market while manufacturing sector especially JKH also significantly performed well. With the fuel revision Land IOC also a significant stock at the floor.

Meanwhile, First Capital Treasuries said that Ramesh Schaffter resigned as a Non-Independent Non-Executive Director with effect from October 1, to facilitate the restructuring of the company’s board.

Yesterday the Central Bank announced the US Dollar rate as against rupee. The rupee was quoted flat at Rs 330.65/80 to the US dollar in the spot market , while bond yields dropped, dealers said.

Business

CDB Launches Private Wealth Proposition with World Mastercard Metal Credit Card

Published

1 min ago

2026/10/2

Thilina Walpola

Citizens Development Business Finance PLC (CDB), officially launched its CDB Private Wealth proposition at the CDB September Monthly Medal 2026, held on 11 and 12 September at the Royal Colombo Golf Club (RCGC). The launch marked an important milestone in CDB’s journey to deliver an elevated financial and lifestyle experience for affluent and high-net-worth customers.

Taking centre stage was the exclusive CDB Private Wealth World Mastercard White Metal Credit Card, designed specifically for CDB Private Wealth customers. Combining global acceptance with a range of carefully curated travel and lifestyle privileges, the card reflects the premium positioning of the new proposition.

In a landmark moment, the first card was presented to RCGC Captain and former Sri Lanka cricket captain Mahela Jayawardene by CDB Managing Director and Chief Executive Officer Mahesh Nanayakkara.