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Positive turn at CSE following ‘IMF-Govt. staff level agreement’

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By Hiran H.Senewiratne

CSE trading became positive yesterday following the IMF staff and the Sri Lankan authorities reaching a staff-level agreement on the first review under an economic reform program supported by the 48-month US$ 3 billion Extended Fund Facility (EFF) arrangement.

Accordingly, Sri Lanka will have access to about US$330 million in financing once the review is approved by the IMF management and IMF Executive Board, the IMF said in a release yesterday.

The IMF said macroeconomic policy reforms are starting to bear fruit and the economy is showing tentative signs of stabilization. “Sustaining the reform momentum and addressing governance weaknesses and corruption vulnerabilities are critical to put the economy on a path towards lasting recovery and stable and inclusive growth, it said.

Amid those developments both indices moved up. The All- Share Price Index went up by 280 points and S and P SL20 rose by 106.9 points. Turnover stood at Rs 909 million with one crossing. The crossing was reported in LB Finance, which crossed 500,000 shares to the tune of Rs 30.7 million; its shares traded at Rs 1.50.

In the retail market, top seven companies that mainly contributed to the turnover were; JKH Rs 97.1 million (508,000 shares traded), First Capital Treasuries Rs 71.7 million (2.2 million shares traded), First Capital Holdings Rs 62 million (1.19 million shares traded), Sampath Bank Rs 43.7 million (680,000 shares traded), Browns Investments Rs 34.9 million (6.4 million shares traded), Capital Alliance Rs 32.9 million (549,000 shares traded and SLT Rs 23.5 million (247,000 shares traded). During the day 36.6 million share volumes changed hands in 13800 transactions.

It is said that high net worth and institutional investor participation was noted in R I L Property and Nations Trust Bank. Mixed interest was observed in JKH, Lanka IOC and LB Finance, while retail interest was noted in Browns Investments, First Capital Holdings and First Capital Treasuries.

The Diversified Financials sector was the top contributor to the market turnover (due to First Capital Holdings and First Capital Treasuries), while the sector index gained 0.76%. The share price of First Capital Holdings decreased by 80 cents to settle at Rs 50.90. The share price of First Capital Treasuries moved up by 40 cents to reach Rs 41.10.

The Retailing sector was the second highest contributor to the market turnover, while the sector index decreased by 0.24 percent.

JKH, First Capital Treasuries and First Capital Holdings were also included among the top turnover contributors. The share price of R I L Property gained 10 cents to reach Rs 5.80. The share price of John Keells Holdings recorded a gain of 75 cents to reach Rs 191. The share price of Lanka IOC edged down Rs 10 cents to settle at Rs 99.Yesterday the US dollar buying rate was Rs 319.64 and the selling rate Rs 330.41.



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From Mt. Fuji to Sri Pada: Lessons from a father-son climb

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by SK Samaranayake

For Daham Gunasena, reaching the summit of Mt. Fuji with his 12-year-old son was not the end of the journey but the beginning of a different kind of lesson.

Gunasena, Director – Commercial at SPAR Sri Lanka and a senior business leader, academic and Chartered Accountant, spent nearly 12 hours on August 19 climbing Japan’s highest mountain with his son, Methum. After eight hours of climbing, the pair reached the 3,776-metre summit before beginning a demanding four-hour descent to Fujinomiya 5th Station.

“The summit was only halfway,” Gunasena reflected, describing the experience as a lesson in preparation, perseverance and responsibility.

Their journey began two days earlier with a trial excursion to the 6th Station and the volcanic landscape around Mt. Hoei. The experience allowed Gunasena to assess the altitude, terrain, weather and equipment before deciding whether his son was ready for the summit attempt.

The climb itself reinforced the value of taking one step at a time. Rather than focusing on the distant summit, father and son concentrated on the next marker, the next few steps and short periods of rest.

Reaching the summit brought another lesson. After taking photographs and celebrating, they still had four hours of descent ahead of them over loose volcanic terrain.

“Reaching the top was an achievement. Returning safely was success,” Gunasena said.

The experience also prompted him to reflect on how Japan manages Mt. Fuji, including visitor education, digital information, sanitation, transport, safety and environmental protection.

Having climbed Sri Pada 12 times last year and five times so far this year, Gunasena sees opportunities to apply some of these principles in Sri Lanka without compromising the mountain’s unique pilgrimage traditions.

He suggested a comprehensive digital platform for Sri Pada providing information on weather, congestion, transport, sanitation, first aid and emergencies, while educating foreign visitors about its religious significance.

For Gunasena, however, the most enduring lesson was personal: a mountain can teach what lectures cannot—through preparation, perseverance, respect for nature and the shared experience of taking each step together.

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FLIR, Marlbo promote smarter industrial maintenance

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Sri Lankan industries are being encouraged to adopt advanced condition monitoring technologies to detect equipment problems before they develop into costly failures, as global technology company FLIR and its local partner Marlbo Trading Company strengthen their collaboration.

The companies brought together industry professionals at a technical seminar held on August 20 at Taj Samudra, Colombo, focusing on the use of thermography and acoustic imaging to reduce unplanned downtime, improve energy efficiency and lower maintenance costs.

Organised by Marlbo under the theme “Condition Monitoring Using Thermography and Acoustic Imaging for Measurable ROI,” the seminar highlighted the growing importance of proactive and predictive maintenance in improving equipment reliability and operational efficiency.

FLIR Sales Director – Instrumentation, India, Bhaskar Lala, and APAC Condition Monitoring Specialist David Gambarte shared their expertise on the latest diagnostic technologies and their practical industrial applications.

Thermal imaging can identify abnormal heat patterns linked to electrical and mechanical faults, while acoustic imaging can detect problems that may go unnoticed during routine inspections.

The technology is particularly useful in identifying compressed-air leaks, which can cause significant energy losses and increase operating costs.

Shevon Liyanage, Engineer – Measuring Instruments at Marlbo, also shared insights into applying condition monitoring technologies in the Sri Lankan industrial environment.

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Lumbini Tea Valley wins intl award for Singharaja Wirytips

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Chaminda Jayawardana receiving the award

Lumbini Tea Valley Ceylon won an award for its Singharaja Wirytips at The Leafies: International Tea Awards held in London in 2024, marking another international recognition for the Sri Lankan tea producer.

The award comes as the company marks two decades of direct exports, with its premium and organic Ceylon teas now reaching 35 countries across six continents.

Established in 1984, Lumbini Tea Valley began its direct export drive after Chaminda Jayawardana joined the family business in 2000 alongside his father, Dayapala Jayawardana. The initiative materialised in 2006 with the company’s first direct shipment—a 15-kilogram consignment of Flowery Broken Orange Pekoe (FBOP) tea to the United States.

Since then, the company has expanded its direct-export operations, which now account for around 20% of its total manufacturing output. Following its transition to organic production, approximately half of its organic tea output is exported directly by the company.

Its key export markets include Japan, the United States, France, the Netherlands, Switzerland and Australia, with direct shipments now reaching 35 countries.

The company said its direct-export model would continue to expand amid growing international demand for traceable, single-origin Ceylon tea, with premium and organic grades at the centre of its export strategy.

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