Connect with us

Business

Ripples in CSE close on the heels of Sinopec’s entry into local fuel industry

Published

on

By Hiran H.Senewiratne

The CSE edged- down in mid-day trade yesterday as Lanka IOC brought down the market consequent to China’s Sinopec entering the Sri Lankan fuel industry, stock market analysts said.

Amid those developments both indices showed a downward trend. The All- Share Price Index went down by 12.6 points and S and P SL20 declined by 20.1 points. Turnover stood at Rs 2.5 billion with four crossings. Those crossings were reported in Cargills, which crossed 1 million shares to the tune of Rs 300 million and its shares traded at Rs 300, Melstacope 1.1 million shares crossed for Rs 84.9 million; its shares traded at Rs 76.50, Dankotuwa Porcelain two million shares crossed for Rs 53 million; its shares fetched Rs 26.50 and JKH 200,000 shares crossed for Rs 31.5 million; its shares traded at Rs 157.25.

In the retail market top seven companies that mainly contributed to the turnover were; Lanka IOC Rs 242 million (1.7 million shares traded), Aitken Spence Rs 155 million (one million shares traded), CIC Holdings (Non-Voting ) Rs 133 million (2.4 million shares traded), Sampath Bank Rs 96.7 million (1.2 million shares traded), Commercial Bank Rs 87.4 million (973,000 shares traded), Melstacope Rs 79.2 million (one million shares traded) and LOLC Holdings Rs 71.1 million (146,000 shares traded). During the day 78 million share volumes changed hands in 21000 transactions.

Yesterday the Central Bank’s US dollar buying rate was Rs 321.10 and the selling rate Rs 334.55.



Business

Ceylinco Life agent among three global finalists for award

Published

on

Ceylinco Life’s Ambalantota branch agent AIP Manjula

Ceylinco Life’s Ambalantota branch agent AIP Manjula has been named one of three global finalists for the prestigious Insurance Agent of the Year award at the 11th Asia Trusted Life Agents & Advisers Awards (ATLAA) 2026.

The recognition places a Sri Lankan insurance professional among the finalists in a regional field spanning South Asia, Southeast Asia, East Asia and the wider Asia-Pacific region.

Ceylinco Life said the achievement reflected the calibre and customer-focused approach of its agency force, while recognising Manjula’s professionalism and commitment to policyholders.

The award evaluates insurance agents on criteria extending beyond sales performance, including ethical conduct, client service, policy persistency, digital adoption, innovative practices and contributions to the insurance industry and community.

The awards are organised by Asia Advisers Network and Asia Insurance Review, with LIMRA as co-organiser. An independent judging and balloting process is monitored by KPMG as the official scrutineer. The judging panel comprises senior insurance executives, association presidents and industry experts from across the Asia-Pacific region.

Continue Reading

Business

CEAT Kelani retains AA+ rating for sixth year

Published

on

CEAT Kelani Holdings (CKH) has retained its National Long-Term Rating of ‘AA+(lka)’ with a Stable Outlook from Fitch Ratings for the sixth consecutive year, reflecting the company’s financial resilience and leading position in Sri Lanka’s pneumatic tyre market.

The ‘AA+(lka)’ rating, the second-highest on Fitch’s national scale, indicates a very strong capacity to meet financial commitments.

Fitch said CKH’s established market leadership and resilient financial profile remained key strengths, while noting its exposure to price-sensitive, cyclical and highly competitive markets.

The Stable Outlook reflects expectations that the company will maintain its market position despite rising input costs and increasing competition from imported tyres, while preserving adequate credit metrics during periods of weaker earnings and higher investment.

Fitch expects CKH’s established brand, extensive dealer network and adaptive pricing strategies to support its market position. Planned production facility upgrades are also expected to improve product quality, particularly in the radial tyre segment.

The rating agency expects near-term pressure on margins from higher raw material and energy costs but said the company’s low leverage and sound liquidity would provide a cushion.

CKH Chairman Chanaka De Silva said the rating reinforced the company’s focus on disciplined financial management, operational adaptability and long-term investment.

Continue Reading

Business

Rivon Agriglobe introduces ZETOR tractors, Rover e-bikes

Published

on

Chief Guest Nalin Welgama (left) lighting the traditional oil lamp at the event

Rivon Agriglobe and Rivon Lanka, affiliated with Celogen Lanka, Assidua Technologies and Kelun Lifesciences, have introduced ZETOR and Agriglobe tractors, the Z-Tukoba power tiller and Rover electric motorcycles to the Sri Lankan market.

The new range was launched at a special event held on September 4 at the Sannasa Hotel in Dambulla, attended by more than 120 dealers from across the country.

The event was graced by Nalin Welgama as Chief Guest, together with Rishi Kumar, Managing Director; WH Roshan, Finance Director; Sadish Kumar, Director; Sumith Nandana, General Manager; Suresh Dhammika, Head of Sales; and Jayasuriya, Operations Manager.

The agricultural machinery range includes the 50-horsepower ZETOR HORTUS 50 and Agriglobe 50 tractors and the Z-Tukoba power tiller, offering what the company described as European-engineered technology for Sri Lankan farmers.

The launch also featured the recognition of Rover E-Bike dealers, highlighting the company’s efforts to expand its island-wide dealer network and promote electric mobility.

The companies said the new models would be available through their growing dealer network across Sri Lanka, providing customers with access to agricultural machinery and electric motorcycles.

Continue Reading

Trending