Business
Purchase of Expolanka Holdings shares by parent company boosts bourse
By Hiran H.Senewiratne
The CSE’s year-to-date net foreign inflow surpassed the Rs. 29 billion mark yesterday with continued purchase of Expolanka Holdings shares by its parent SG Holdings of Japan.
Apart from this silver lining, the Colombo bourse remained negative owing to lacklustre interest from locals. Sri Lanka’s US $2.9 billion IMF bailout issue from the International Monetary Fund (IMF) is likely to go beyond January 2023, State Minister of Finance Shehan Semasinghe said and this has prompted a negative outlook on the part of local investors.
Semasinghe assured, however, that maximum efforts are underway to receive the Board’s approval in the first quarter of 2023. Accordingly, both indices moved downwards. The All- Share Price Index went down by 88.27 points and S and P SL20 declined by 33.04 points. Turnover stood at Rs 4.6 billion with two crossings. Those crossings were reported in Expolanka Holdings, which crossed 13.7 million shares to the tune of Rs 2.8 billion and its shares traded at Rs 210 and Lanka IOC 534,000 shares crossed to the tune of Rs 106.8 million, its shares traded at Rs 200.
In the retail market top seven companies that mainly contributed to the turnover were, Expolanka Holdings Rs 566 million (2.8 million shares traded), Lanka IOC Rs 471 million (2.3 million shares traded), Browns Investments Rs 97.7 million (14.7 million shares traded), First Capital Holdings Rs 82.1 million (3.1 million shares traded), JKH Rs 38 million (272,000 shares traded), LOLC Finance Rs 26.4 million (3.5 million shares traded) and First Capital Treasuries Rs 26.6 million (1.2 million shares traded). During the day 68.4 million share volumes changed hands in 14000 transactions.
It is said high net worth and institutional investor participation was noted in Expolanka Holdings, John Keells Holdings and Lanka IOC. Mixed interest was observed in First Capital Holdings, Softlogic Life Insurance and CIC Holdings, while retail interest was noted in Browns Investments, Softlogic Capital and Industrial Asphalts.
The Transportation sector was the top contributor to the market turnover (due to Expolanka Holdings) while the sector index lost 0.60 per cent. The share price of Expolanka Holdings decreased by Rs. 1.25 (0.60%) to close at Rs. 205.50.
The Energy sector was the second highest contributor to the market turnover (due to Lanka IOC), while the sector index decreased by 5.32 per cent. The share price of Lanka IOC lost Rs. 12.50 (5.69 per cent) to close at Rs. 207.
Sri Lanka’s authorities have said a domestic debt restructure would endanger banks that have already suffered a hit on their capital.
Amid those developments Nation Lanka Finance PLC obtained Central Bank approval for an amalgamation with Kanrich Finance, which is a CSE unlisted entity in the stock market. With the amalgamation, the surviving entity would be Nation Lanka Finance.
Yesterday, the Central Bank- announced US dollar exchange rate was recorded as Rs 371.77.
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.”
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.”
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.”
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