Business
Profit-takings in LOLC Group affect CSE momentum
By Hiran H.Senewiratne
CSE trading activities were positive yesterday despite other global stock markets showing a downward trend with the possible spread of the Covid 19 new variant. The market was slightly volatile throughout the day. At the beginning, the stock market was positive but later it did not maintain the same momentum because profit- takings were noted in the LOLC Group of companies, especially LOLC Holdings, Browns Investments and Brown and Company, stock market analysts said.
But price appreciation was witnessed in Expolanka Holdings and Expack Corrugated Company which put the market in positive territory. Expolanka Holdings’ share price appreciated by Rs 16.25 or 6.5 per cent. Its share price shot up to Rs 263.50 from Rs 247.25. Expack Corrugated Company, which listed recently, saw its share price appreciate by 30 percent or Rs 5.30. Its share price started at Rs 17.60 at the end of the day it moved up to Rs 22.90. During the day manufacturing sector companies noted gains, while plantation companies showed some profit- takings.
Amid those developments both indices moved upwards. The All Share Price Index went up by 4.41 points and S and P SL20 rose by 13.81 points. Turnover stood at Rs 8.9 billion with a single crossing. The crossing was reported in Access Engineering, which crossed two million shares to the tune of Rs 58 million; its shares traded at Rs 29.
In the retail market, seven companies that mainly contributed to the turnover were; Expolanka Holdings Rs 1.8 billion (7.2 million shares traded), Browns Investments Rs 1.2 billion (90.7 million shares traded), Expack Corrugated Rs 933 million (43.5 million shares traded), Lanka Realty Investments Rs 595 million (20.3 million shares traded), Royal Ceramic Rs 406 million (6.3 million shares traded), Vallible One Rs 272 million (four million shares traded)and Dipped Products Rs 248 million (4.7 million shares traded). During the day 343 million share volumes changed hands in 64000 transactions.
Controlling foreign shareholders of Lanka Realty Investments PLC (LRI) yesterday partly shed their stakes to boost liquidity as retailers stepped up buying.
ASCO saw 39 million of its shares change hands via 3,284 trades for Rs. 994.5 million. However, the share closed at Rs. 25.30, down by 18% or Rs. 5.60, though improved liquidity is likely to boost its attractiveness.
Foreign shareholder directors of Northern Trust Company, S/A Ian McVeigh, sold 15.7 million shares at Rs. 25 each and Terry C. Smith shed an equal number. Post-sale, Northern Trust holds 23.83 per cent down from 31.3 per cent and Smith 3.12 per cent, down from 10.6 per cent. Smith is also a connected party to ‘Eighth Wonder’, the holding of which remains unchanged at 11.3 per cent.
Yesterday, the US dollar was quoted at Rs 202.39, which was the Central Bank controlled price aimed at preventing the escalation of prices of essential imported items. However, the actual market price is about to touch Rs 250 market, market sources said.
Company stresses ambition to surpass this milestone
Eyes markets across Africa and beyond
In a groundbreaking achievement for Sri Lanka’s IT and electronics manufacturing industry, EWIS Colombo Ltd, the country’s first and only local computer manufacturer, has successfully exported its first consignment of locally built laptops to Zimbabwe.
This landmark event not only positions Sri Lanka as an emerging force in global IT hardware manufacturing but also highlights EWIS’s commitment to innovation, quality, and excellence on the international stage.
This historic shipment, dispatched from EWIS’s state-of-the-art manufacturing facility in Samajasewapura, Sooriyawewa, underscores the company’s dedication to delivering world-class technology solutions. With over 11 years of expertise in manufacturing and assembly, EWIS Colombo Ltd has played a pivotal role in driving Sri Lanka’s ICT sector forward. As a Board of Investment (BOI) Section 17-approved company, EWIS has established the country’s first and only local computer manufacturing plant, paving the way for the nation’s growth in high-tech exports.
Speaking on this momentous achievement, Sanjeewa Wickramanayake, Chairman of EWIS Colombo Ltd, said: “This milestone is not just for EWIS but for Sri Lanka as a whole. It proves that our country has the talent, capability, and ambition to manufacture and export high-quality IT products, competing confidently on the global stage. As we continue expanding beyond local markets, we take immense pride in showcasing Sri Lanka’s excellence in technology and innovation to the world. EWIS’s commitment to world-class quality is reinforced by its ISO 9001:2015, ISO 14001:2015, CE, FCC, and RoHS certifications, ensuring compliance with international quality, safety, and environmental standards.”
Speaking further he said:
“For nearly four decades, EWIS has been a trailblazer in Sri Lanka’s ICT sector, delivering cutting-edge solutions for education, businesses, and government enterprises.
With over 11 years of local manufacturing and assembly expertise, EWIS has continuously refined its capabilities to produce high-quality, internationally competitive IT hardware. The successful export to Zimbabwe represents a bold step toward expanding EWIS’s global footprint, reinforcing Sri Lanka’s potential as a world-class technology and manufacturing hub.”
Dialog Television, Sri Lanka’s #1 Pay-TV service provider, has partnered with Emerging Media to enhance the convenience and effectiveness of advertising. This collaboration brings together Dialog Television’s world-class entertainment, featuring 18 advertisable channels across genres such as movies, edutainment, kids, music, sports, and local content, with Emerging Media’s expertise in digital advertising and targeted marketing. This synergy creates a seamless platform for businesses to maximize brand exposure across multiple channels.
With a reach of over 1.7 million households, Dialog Television provides advertisers with a powerful avenue to engage diverse audiences. Brands can place advertisements on leading international and local channels such as &flix, Star Movies, TLC, Animal Planet, AXN, Zee Café, Comedy Central, Star Plus, A+, Nickelodeon, Star Vijay, Zee Tamil, Star Sports, Ten Cricket, Sony SIX, ThePapare TV, Channel One, Citi Hitz and Channel C. Through this partnership, Emerging Media will facilitate advertising sales, allowing businesses to target specific viewer segments while simplifying the media buying process with a single point of contact.
Commenting on the partnership, Lim Li San, Group Chief Operating Officer at Dialog Axiata PLC, stated, “As Sri Lanka’s premier Pay-TV service provider, we serve more than 1.7 million households with over 6 million pairs of captive eyeballs across Sri Lanka. Today, we are excited to embark on this partnership with Emerging Media to avail our Dialog Television platform and brand strength to provide quality advertisement exposure and customer engagement to local businesses across Sri Lanka.”
The International Institute of Health Sciences (IIHS), a pioneer in healthcare training for over 23 years, has partnered with the University of Surrey, UK, to revolutionise healthcare education in Sri Lanka and the broader South Asian region. This will create a world-class academic pathway for aspiring nursing and healthcare professionals, as well as young individuals seeking careers in the field. Under this agreement, IIHS and the University of Surrey will introduce a series of academic initiatives to enhance healthcare training and accessibility.
These include delivering internationally recognised nursing programmes that allow Sri Lankan and regional students to earn globally competitive qualifications in Sri Lanka.
Commenting on the move, Dr. Kithsiri Edirisinghe, CEO & Dean of Undergraduate Studies at IIHS, said: “This MOU marks a significant step in our mission to deliver world-class healthcare education to Sri Lanka and the region. IIHS remains dedicated to shaping the future of healthcare professionals and fostering global healthcare leadership.” Dr. Shelini Surendran, Associate Dean (International) at the University of Surrey, emphasised: “Sri Lanka is establishing itself as a regional education hub, and this partnership ensures students across Asia can access top-tier UK healthcare education at IIHS. By bridging academic excellence with accessibility, we provide students with a clear pathway to their professional goals.”
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