Business
S&P SL20 index declines amidst waning turnover; LOLC Group counters recover
By Hiran H.Senewiratne
The CSE managed to push its benchmark index to a positive trajectory though the more active S&PSL20 declined amid waning turnover yesterday. At the beginning profit- takings were noted and the market went down but later it turned positive and settled in positive territory, market analysts said.
The index- heavy Browns Investments share price declined to Rs 16.50 but later settled at Rs 17. The recovery of Browns Investments made other LOLC Group counters and other shares move to a positive momentum.
Softlogic Life Insurance witnessed a 40 per cent gain during the last five days. But yesterday it recorded a Rs 10.90 or 11 per cent price appreciation. Its shares traded at Rs 99.10 and at the end of the day they shot up to Rs 110.
Amid those developments both indices moved upwards. The All -Share Price Index went up by 215.5 points and S and P SL20 shot up by 74.6 points. Turnover stood at Rs 7.07 billion with three crossings. Those crossings were reported in LOLC Finance, which crossed 7.5 million shares to the tune of Rs 205 million, its shares traded at Rs 28, TJLanka 1.4 million shares crossed for Rs 72.3 million, its shares traded at Rs 50 and Browns Investments 1.2 million shares crossed to the tune of Rs 20.3 million; its shares traded Rs 16.90.
In the retail market top seven companies that mainly contributed to the turnover were Browns Investments Rs 636.3 million (37.8 million shares traded), Expolanka Holdings Rs 610 million (1.6 million shares traded), Softlogic Life Rs 368 million (2.4 million shares traded), LOLC Holdings Rs 321 million (237,000 shares traded), ACL Cables Rs 306 million (2.77 million shares traded), Softlogic Holdings Rs 283 million (4.2 million shares traded) and LOLC Finance Rs 236 million (8.2 million shares traded). During the day 253 million share volumes changed hands in 56280 share transactions.
Mixed interest was observed in Expolanka Holdings, Softlogic Life Insurance and Access Engineering while retail interest was noted in SMB Leasing non-voting, Browns Investments and Softlogic Capital. The Diversified Financials sector was the top contributor to market turnover.
Yesterday the US dollar was quoted at Rs 201.50, which was the controlled price of the Central Bank. S&P Global Ratings earlier in the day lowered its long-term sovereign credit rating on Sri Lanka to ‘CCC’, from ‘CCC+’, saying the country’s external position continues to weaken due to elevated external obligations and an uneven access to financing.
S&P said Sri Lanka’s economic recovery would be challenged by the ongoing pandemic and external financial stresses. The rating agency forecast real gross domestic product growth of 2.2% this year, compared with its estimate of 3 per cent expansion in 2021.
Business
Indo-Sri Lanka Chambers forge alliance to drive infrastructure and real estate investment
By Sanath Nanayakkare
In a major boost to bilateral economic ties, the Chamber of Construction Industry of Sri Lanka (CCISL) and the Indo–Sri Lanka Chamber of Commerce & Industry (ISCCI) have signed a strategic Memorandum of Understanding (MoU) to deepen cooperation in real estate, infrastructure, and urban development.
The agreement establishes a formal framework for both institutions to drive collaborative initiatives, including business delegations, high-level conferences, workshops, B2B matchmaking sessions, and technical site visits. Designed to bridge businesses, government institutions, and project stakeholders across the Palk Strait, the partnership aims to unlock new avenues for cross-border joint ventures and technology transfers.
A focal point of this newly minted partnership is the facilitation of an upcoming trade delegation from the National Real Estate Development Council (NAREDCO) of India. Comprising major Indian players in the real estate and infrastructure sectors, the visiting delegation will engage in targeted business meetings, workshops, and inspection tours of prominent construction projects in Sri Lanka.
Under the terms of the MoU, CCISL will serve as the principal host coordinator in Sri Lanka. In close consultation with ISCCI, the apex construction body will curate itineraries, identify viable projects for engagement, and facilitate high-level dialogues with key government agencies, regulatory bodies, and industry leaders.
With both nations prioritizing sustainable urban growth, modern construction technologies, and infrastructure expansion, industry leaders view the partnership as a timely catalyst for economic rejuvenation. The collaboration is anticipated to accelerate market access, knowledge exchange, and foreign direct investment into Sri Lanka’s burgeoning property and development sectors.
To ensure the success of the upcoming NAREDCO delegation, CCISL has issued an urgent appeal to statutory authorities and relevant project owners to come forward with viable investment proposals. Stakeholders holding projects seeking foreign investment or technical partnerships are invited to submit comprehensive details to the Secretary General and CEO of CCISL via email at secyces@gmail.com.
Both chambers emphasize that translating this foundational agreement into tangible partnerships and robust capital flows will significantly strengthen bilateral connectivity between the construction and real estate sectors of India and Sri Lanka.
Business
Hettich celebrates a decade in Sri Lanka with partner meet in Colombo
Hettich, the globally renowned German manufacturer of furniture fittings and architectural hardware known for its state-of-the-art manufacturing plants and magical interior solutions across the world celebrated a significant milestone in Sri Lanka, marking 10 years of presence in the country with its inaugural Partner Meet in Colombo.
The landmark event brought together Hettich’s key partners, stakeholders and industry leaders to celebrate a decade of growth, collaboration and shared success, while reaffirming the company’s long-term commitment to the Sri Lankan market.
Over the past decade, Hettich has strengthened its presence in Sri Lanka through its focus on German engineering, innovation, quality and functionality, contributing to the creation of contemporary and intelligently designed living and working spaces across the country.
The gala evening was graced by a distinguished delegation of senior leaders, including Dr. Andreas Hettich, Chairman, Hettich Group Advisory Board; S. K. Poddar, Chairman, Hettich India & Adventz Group; Mr. Akshay Poddar, Director, Hettich India; Andre Eckholt, Managing Director, Hettich India, SAARC, Middle East & Africa; Rahul Thakkar, Director – Sales, Hettich India & SAARC; and Dinusha Bhaskaran, Managing Director, Vallibel One PLC.
Business
GS Evo Motors launches all-new JMEV EWIND
GS Evo Motors Limited, the authorized distributor of JMEV electric vehicles in Sri Lanka, has officially launched the JMEV EWIND, a next-generation compact electric SUV. The vehicle is designed to offer strong performance, intelligent technology, premium comfort, and high safety standards, marking another milestone in Sri Lanka’s growing electric mobility sector.
The EWIND features a sleek, aerodynamic exterior with penetrating LED daytime running lights, trapezoidal chain-inspired LED tail lamps, 19-inch alloy wheels, and a bold silhouette. Inside, it offers a spacious cabin with a panoramic moonroof and retractable curtain, an ultra-thin suspended instrument panel, a D-shaped multifunction steering wheel, multi-colour ambient lighting, premium finishes, and electrically adjustable front seats.
The SUV is available in single-motor front-wheel drive configurations, producing up to 108 kW and 210 Nm, with 0–100 km/h acceleration in 8.9 seconds.
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