Business
Revised ASPI calculation method triggers temporary panic in bourse; but turnover hits Rs 18.4 billion
By Hiran H.Senewiratne
The revised index calculation methodology of the CSE’s All Share Price Index from full market capitalization-weighting to public float-adjusted market capitalization was implemented from yesterday. With the implementation of this new system stock market investors became rather panicky and the market turned negative but during the latter part of the day buying interest was noted and the market turned positive, stock market analysts said.
‘Accordingly, this project should also be completed on time in the same way the Delivery Vs Payment (DVP) project was completed, since this will significantly enhance the post trade risk management of the equity market. Further, the new SEC Act has all the enabling provisions to facilitate the implementation of a Central Counter- Party (CCP) mechanism.
Amid those developments both indices moved upwards. The All- Share Price Index went up by 12.5 points and S and P SL20 rose by 30.2 points. The market turnover stood at Rs. 18.4 billion with two major crossings. The crossings were reported in JKH, which crossed 80.1 million shares, which were equal to five per cent of the total shareholdings to the tune of Rs. 12.9 billion at a share price of Rs 161. Since the company has not yet announced the transaction, CSE sources said that City Group, being the largest shareholder, which owned 440 million shares would have been involved in the transaction by way of an internal transfer or investiture to another party. Another crossing was reported in Kelani Cables, which crossed 170,000 shares to the tune of Rs 102 million; its shares traded at Rs 600.
In the retail market top five companies that mainly contributed to the turnover were, Expolanka Holdings Rs one billion (2.7 million shares traded), Browns Investments Rs 352 million (20.9 million shares traded), ACL Cables Rs 318 million (2.5 million shares traded), Kelani Valley Plantations Rs285 million (2.6 million shares traded), LOLC Holdings Rs 262 million (2.6 million shares traded), Hayleys Rs 221 million (1.5 million shares traded), and LOLC Finance Rs 174 million (6.1 million shares traded). During the day, 207 million share volumes changed hands in 43000 transactions. Further, the Central Bank has given approval for the merging of LOLC Finance and Commercial Leasing and Finance. With the proposed merger Commercial Leasing and Finance will no longer exist.
Yesterday, the US dollar was quoted at Rs 202, which was the controlled rate of the Central Bank to contain prices of import- export items in the country.
Business
Sri Lanka betting its tourism future on cold, hard numbers
National Airport Exit Survey tells quite a story
Australia’s role here is strategic, not charitable
In a quiet but significant shift, Sri Lanka’s tourism sector is moving beyond traditional destination marketing and instinct-based planning. The recent launch of the “From Data to Decisions” initiative jointly backed by Australia’s Market Development Facility and the Sri Lanka Tourism Development Authority, sent an unambiguous message: sentiment is out, statistics are in.
The initiative is anchored by a 12-month National Airport Exit Survey, a trove of data covering 16,000 travellers. The findings sketch a new traveller profile: nearly half are young (20–35), independent, and book online. Galle, Ella, and Sigiriya are the hotspots; women travellers outnumber men; and a promising 45% plan to return. This isn’t just trivia. It’s a strategic blueprint. If Sri Lanka Tourism listens, it can tailor everything from infrastructure to marketing, moving from guesswork to precision.
The keynote speaker, Deputy Minister Prof. Ruwan Ranasinghe called data “a vital pillar of tourism transformation.” Yet the unspoken truth is that Sri Lanka has long relied on generic appeals -beaches, heritage, smiles. In today’s crowded market, that’s no longer enough. As SLTDA Chairman Buddhika Hewawasam noted, this partnership is about “elevating how we collect, analyse, and use data.”
Australia’s role here is strategic, not charitable. By funding research and advocating for a Tourism Satellite Account, it is helping Sri Lanka build a tourism sector that is both sustainable and measurable. Australian High Commissioner Matthew Duckworth linked this support to “global standards of environmental protection” – a clear nod to the growing demand for green travel. This isn’t just aid; it’s influence through insight.
“The real test lies ahead,” a tourism expert told The Island. “Data is only as good as the decisions it drives. Will these insights overcome bureaucratic inertia? Will marketing budgets actually follow the evidence toward younger, independent, female travellers?,” he asked.
“The comprehensive report promised for early 2026 must move swiftly from recommendation to action. In an era where destinations are discovered on Instagram and planned with algorithms, intuition alone is a high-stakes gamble. This forum made one thing clear: Sri Lanka is finally building its future on what visitors actually do – not just what we hope they’ll do. The numbers are in. Now, the industry must dare to follow them,” he said.
By Sanath Nanayakkare
Business
New ATA Chair champions Asia’s small tea farmers, unveils ambitious agenda
In his inaugural address as the new Chairman of the Asia Tea Alliance (ATA), Nimal Udugampola placed the region’s millions of smallholders at the core of the global tea industry’s future, asserting they are the “indispensable engine” of a sector that produces over 90% of the world’s tea.
Udugampola, who is also Chairman of Sri Lanka’s Tea Smallholdings Development Authority, used his speech at the 6th ATA Summit held in Colombo on Nov. 27 to declare that the prosperity of Asian tea is “entirely contingent” on the resilience of its small-scale farmers, who have historically been overlooked by premium global markets.
“In Sri Lanka, smallholders account for over 75% of our national production. Across Asia, millions of families maintain the quality and character of our regional teas,” he stated, accepting the chairmanship for the 2025-2027 term.
To empower this vital community, Udugampola unveiled a vision focused on Sustainability, Equity, and Digital Transformation. The strategic agenda includes:
Climate Resilience: Promoting climate-smart agriculture and regenerative farming to protect smallholdings from environmental disruption.
Digital Equity: Leveraging technology like blockchain to create farm-to-cup traceability, connecting smallholders directly with premium consumers and ensuring fair value.
Market Expansion: Driving innovation in tea products and marketing to attract younger consumers and enter non-traditional markets.
Standard Harmonization: Establishing common regional quality and sustainability standards to protect the “Asian Tea” brand and push for stable, fair pricing.
Linking the alliance’s goals to national ambition, Udugampola highlighted Sri Lanka’s target of producing 400 million kilograms of tea by 2030. He presented the country’s “Pivithuru Tea Initiative” as a model for other ATA nations, designed to achieve this through smallholder empowerment, digitalization, and aligned policy objectives.
By Sanath Nanayakkare
Business
Brandix recognised as Green Brand of Year at SLIM Awards 2025
Brandix Apparel Solutions was recognised as the Green Brand of the Year at the Sri Lanka Institute of Marketing (SLIM) Brand Excellence Awards 2025, taking home Silver, the highest award presented in the category this year.
The ‘Green Brand of the Year’ recognises the brand that drives measurable environmental impact through sustainable practices, climate-aligned goals and long-term commitment to protecting natural resources.
A pioneer in responsible apparel manufacturing for over two decades, Brandix has championed best practices in the sphere of sustainable manufacturing covering environmental, social, and governance aspects. The company built the world’s first Net Zero Carbon-certified apparel manufacturing facility (across Scope 1 and Scope 2) and meets over 60% of its energy requirement in Sri Lanka via renewable sources.
Head of ESG at Brandix, Nirmal Perera, said: “Being recognised as Green Brand of the Year is an encouraging milestone for our teams working across sustainability.”
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