Business
PRASAC Cambodia sale completed by LOLC Group; ASPI at all-time high
By Hiran H.Senewiratne
The CSE witnessed an exceptional rally on LOLC Group stocks yesterday following an announcement by the company that it has received the second and final tranche of US $ 225 million in the sale of its shares in PRASAC Cambodia, a microfinance entity, to South Korea’s largest commercial bank Kookmin.
Initially LOLC had received US $ 422 million as the first tranche of the proceeds of the PRASAC Cambodia sale. The balance US $ 225 million was received on October 19. The transaction value of PRASAC is US $ 647 million, stock market analysts said.
Meanwhile, for the first time in CSE history, the ASPI surpassed 9,800 pts, closing at 9,881.5 pts at the end of the day. Turnover stood at Rs. 4.26 billion.
Yesterday the market was driven by the LOLC Group because of the PRASAC transaction. Investor savvy persons rallied around those stocks. Therefore, Commercial Leasing and Finance, being one of the subsidiaries of the LOCL Group, witnessed a 19 per cent or Rs 7 share appreciation. Its shares initially traded at Rs 37.40 but at the end of the day their price shot up to Rs 44.40, thus contributing 100 points to the All-Share Price Index. Further, LOLC Holdings PLC contributed 38 points to the All-Share Price Index.
The All-Share Price Index went up by 172 points and S and P SL20 shot up by 26.2 points. Turnover stood at Rs 4.3 billion with two crossings. Those crossings were reported in DPPL Holdings, which crossed 9.2 million shares to the tune of Rs 208 million and its shares traded at Rs 22.60 and JAT Holdings one million shares crossed for Rs 24 million; its shares traded at Rs 24.
In the retail market top five companies that mainly contributed to the turnover were; Expolanka Holdings Rs 586 million (2.9 million shares traded), LOLC Holdings Rs 579 million (913,000 shares traded), Commercial Leasing and Finance Rs 450 million (10.4 million shares traded), Browns Investments Rs 322 million (30.7 million shares traded) and Royal Ceramic Rs 178 million (3.5 million shares traded). During the day 154 million share volumes changed hands in 35000 transactions.
The investor sentiment of the CSE improved the results of the latest LMD-Nielsen IQ Business Confidence Index (BCI) survey. It indicates that sentiment surrounding the economy improved in September as 20 percent of respondents anticipate an improvement in the next 12 months – up from a mere 6 percent in the previous month. When it comes to Sri Lanka, a US $ 3.6 billion loan from Oman and Qatar to purchase/import Brent crude oil gave some relief to investors. This would assist to cushion the pressure to some extent, stock market analysts said.
Yesterday, the Sri Lanka rupee was quoted at Rs 200.11 against the US dollar. This is in keeping with the Central Bank controlled price.
Business
ComBank hands over fully refurbished wards at De Soysa Hospital for Women
The Commercial Bank of Ceylon recently handed over Wards No. 03 and 04 of the De Soysa Hospital for Women, after the completion of a comprehensive renovation project launched in March this year to mark International Women’s Day.
Wards 03 and 04 handle a substantial share of the hospital’s patient load, and account for approximately 2,500 to 3,000 deliveries and 4,000 to 5,000 admissions annually. Their refurbishment was designed to significantly enhance patient care, safety and comfort, and directly benefit thousands of mothers and newborns.
Five Trustees of the Commercial Bank’s Corporate Social Responsibility Trust participated in the formal handing over of the refurbished wards to the hospital authorities. They were Sharhan Muhseen, the Bank’s Chairman, Raja Senanayake, Deputy Chairman, Sanath Manatunge, Managing Director/CEO, Hasrath Munasinghe, Chief Operating Officer, and Prasanna Indrajith, Chief Financial Officer.
Established in 1879, the De Soysa Hospital for Women is the first maternity hospital in Sri Lanka and the second oldest in Asia and is credited with, among others, performing the country’s first caesarean section in 1905 and establishing one of its earliest organised operating theatres in 1907.
The Commercial Bank’s Corporate Social Responsibility Trust, through which this project was implemented, has via its healthcare-related interventions supported more than 100 government hospitals with essential equipment and infrastructure, contributed to emergency medical services through the ‘Adopt an Ambulance’ initiative, and implemented targeted community health interventions such as water storage solutions for families affected by kidney disease.
Business
IIHS expands global nursing pathways
The International Institute of Health Sciences (IIHS) Multiversity is expanding its international education programmes with the aim of creating overseas employment opportunities for Sri Lankan nurses and allied health professionals while contributing to foreign exchange earnings.
Speaking to the media during a conference at IIHS Multiversity in Kerawalapitiya, Dr. Kithsiri Edirisinghe, CEO, Co-Founder and Dean of IIHS aid that the institute has established academic partnerships with overseas universities and higher education institutions, including the University of Surrey in the UK, Deakin University in Australia, Metropolia University of Applied Sciences in Finland, Asia e University in Malaysia and SUNY Canton in the United States.
Under its ‘Study in Sri Lanka, Graduate to the World’ model, students can complete foundational and diploma-level qualifications locally before progressing to international top-up degrees or overseas employment.
Dr Edirisinghe said the model could substantially reduce the cost of obtaining internationally recognised qualifications. It estimates that completing a four-year bachelor’s degree at the University of Surrey in the UK would cost about USD 145,700, including tuition and living expenses, compared with about USD 27,750 through the IIHS pathway in Sri Lanka.
Dr Edirisinghe said the institute’s focus on overseas deployment addressed both Sri Lanka’s economic needs and the growing global demand for healthcare workers.
“Our winning model is producing job-ready, registration-ready healthcare professionals who can seamlessly enter foreign healthcare systems,” he said.
IIHS, which began operations in 2002 as the American College of Health Sciences, established its institutional base in Welisara in 2008 and launched its purpose-built greenfield multiversity campus in 2023.
The institute said it has upgraded the qualifications of more than 5,000 government nurses, supported over 2,500 youth on international employment pathways and trained more than 1,000 allied health professionals. It has also carried out over 250 community health projects.
The institute has identified Germany and Japan among its target markets, with pathways planned for 2,000 nurses for Germany and a one-year preparation programme linked to around 4,000 healthcare positions in Japan.
Dr. Renuka Jayatissa, Vice-Chancellor and a specialist medical doctor, said demographic changes and the growing burden of non-communicable diseases were changing healthcare requirements in Sri Lanka.
Business
Sampath Bank launches Sri Lanka’s first community-powered book discovery platform at Colombo International Book Fair
Sampath GPay customers can enjoy 25% cash back on Book Fair purchases
Sampath Bank PLC has launched Sampath Book Finder, Sri Lanka’s first community-powered book discovery platform, giving visitors to the Colombo International Book Fair a faster and more seamless way to find the books they are looking for across the fair’s 150+ stalls, while also opening up new opportunities to discover titles recommended by fellow readers.
Introduced on the opening day of the Colombo International Book Fair on 25 September, Sampath Book Finder brings together digital innovation and the collective knowledge of readers to address a familiar challenge at one of Sri Lanka’s largest literary gatherings, where the scale of the fair can make locating a particular title a time-consuming exercise. When a book proves difficult to locate, visitors can access bookfairtracker.com or scan the designated QR code and submit a request to the community, allowing readers who have already spotted the title to share its location and help others find it without having to search stall after stall.
Commenting on the initiative, Milinda Weerasinghe, Chief Marketing Officer, Sampath Bank PLC, said, “At Sampath Bank, we believe meaningful innovation begins by identifying everyday challenges and creating solutions that make a real difference. Sampath Book Finder brings this thinking to the Colombo International Book Fair by turning the collective knowledge of readers into a real-time digital solution, empowering them to find what they are looking for, discover something new and help others do the same, while making the overall experience more convenient and connected.”
The platform also turns book discovery into a shared experience, allowing visitors to recommend books they encounter by sharing the title, publisher, hall and stall number, which enables fellow readers to discover sought-after titles and recommendations while making it easier to locate them within the fair.
Sampath Bank’s longstanding association with the Colombo International Book Fair also continues in 2026, marking more than 20 years of partnership, with the Bank serving as the Official Banking Partner for this year’s fair. As part of its presence at the event, SampathCards offer 25% cashback for Sampath GPay customers on their purchases and 3 months 0% instalment plans for book purchases via Sampath credit cards, while visitors can also access banking services through the Bank’s physical presence at the fair. Customers registering to open selected Fixed Deposits at the premises will receive an additional 0.25%, adding further value and convenience for visitors.
-
News6 days agoPolice remove Thileepan statue in Jaffna
-
Features6 days agoThe 22nd Amendment, constitutional recovery and illiberal slippage
-
Features6 days agoOf foreigners as CEOs of Lankan ventures
-
Latest News4 days agoGold winner Tharanga gets brand-new Honda Vezel from SLAAJ
-
News6 days agoSajith rejects Jt. Opp. protest sabotage claim; SJB TU chief demands remedial action
-
Features4 days agoWhy Sri Lanka needs an Inclusive Civic Nationalism – urgently
-
News3 days agoUS-assisted ‘Ice’ detection: NPC to examine IGP’s move to transfer drug-busting team
-
Features5 days agoThailand’s biggest new global star …
