Financial support for housing project for families affected by Cyclone Ditwah

People’s Bank has come forward to donate Rs. 300 million to the ‘Government’s Rebuilding Sri Lanka Fund’ to support the development of a multi-storey housing project in the Nuwara Eliya District, which is being constructed to resettle families affected by Cyclone Ditwah.

This initiative, undertaken in commemoration of the Bank’s 65th anniversary, forms a key component of its Mahajana Mehewara Corporate Social Responsibility (CSR) programme, reinforcing its commitment to supporting communities and promoting sustainability.

The symbolic cheque for the donation was handed over at the Presidential Secretariat by People’s Bank CEO/GM Clive Fonseka and People’s Bank Chairman Prof. Narada Fernando to the Secretary to the President, Dr. Nandika Sanath Kumanayake. Head of Marketing Nalaka Wijayawardana was also present at the occasion.

Cyclone Ditwah, which struck in November 2025, along with the subsequent landslides in the Nuwara Eliya town area, caused extensive damage to residential properties and displaced numerous families. In response, the Ministry of Housing, Construction and Water Supply initiated a permanent housing programme to provide secure and sustainable living conditions. The contribution by People’s Bank highlights the national importance of this initiative and underscores the Bank’s continued role in supporting post-disaster recovery and community resilience.

The proposed development comprises of a fully integrated multi-storey housing complex designed to ensure both comfort and long-term sustainability. The residential component will consist of three multi-storey blocks, offering a total of 120 housing units, with 40 units allocated per block.

In addition to housing, the project incorporates comprehensive infrastructure and community facilities to support a holistic living environment. Planned infrastructure includes internal road networks, dedicated parking facilities, a wastewater treatment plant, and solar-powered outdoor lighting systems. Community-oriented amenities will feature a health centre, day-care centre, commercial outlets, a community centre, a children’s play area, a condominium management office, and a fully operational banking unit. Each block is expected to be completed within approximately a six-month construction period, enabling the timely resettlement of affected families.

Design and consultancy services for the project will be undertaken by the State Engineering Corporation, ensuring adherence to national standards and best practices in construction and urban planning.

As Sri Lanka’s largest bank in terms of customer base and the branch network, People’s Bank has consistently extended its services beyond banking to support impactful CSR initiatives. Guided by its enduring ethos, “Pride of the Nation”, the Bank continues to play a transformative role in uplifting communities and contributing to sustainable national development.

Hayleys PLC, Sri Lanka’s leading diversified conglomerate, has announced that its LKR 9 billion Rights Issue has been oversubscribed by over LKR 2 billion, reflecting strong investor confidence in the Group’s financial strength and growth prospects.

The Rights Issue of 45,000,000 new ordinary voting shares was offered at an issue price of Rs. 200 per share, in the proportion of three new shares for every fifty existing shares held.

The proceeds from the Rights Issue will be strategically deployed through a disciplined allocation of capital intended to fund high-growth, future-focused investments. This strategic move further strengthens Hayleys’ financial flexibility and capital structure, channelling fresh capital into growth-oriented assets while reinforcing long-term stability.

By strategically expanding into the modern trade retail segment and scaling renewable energy projects, Hayleys is diversifying its revenue streams to ensure long-term earnings resilience. The continued strengthening of export-oriented verticals is set to drive vital foreign currency inflows, improving profitability through access to larger international markets. Collectively, these initiatives are engineered to accelerate return on invested capital, ultimately driving sustainable shareholder wealth through long-term value creation.

Hayleys PLC carries a National Long-Term Rating of ‘AAA (lka)’ with a Stable Outlook from Fitch Ratings Lanka Limited, recently reaffirmed, the highest credit rating on the Sri Lankan national scale.

CSE trading indicated some volatility yesterday at the outset but later buying interest was noted in select speculative companies, market analysts said.Amid those developments both indices moved. The All Share Price Index went up by 14.9 points while the S and P SL20 rose by 1.38 points. Turnover stood at Rs 2.1 billion with four crossings.

Those crossings were: Commercial Bank 505,000 shares crossed to the tune of Rs 106 million; its shares traded at Rs 210, Overseas Reality1 million shares crossed for Rs 48 million; its shares traded at Rs 48, Central Finance 115,000 shares crossed for 30 million; its shares traded at Rs 260 and ACL Cables 287,000 shares crossed to the tune of Rs 28 million; its shares traded at Rs 97.

In the retail market companies that mainly contributed to the turnover were; Luminex Rs 133 million (12 million shares traded), HVA Foods Rs 119 million (14 million shares traded), Ceylon Land and Equity Rs 76 million (6.8 million shares traded), Commercial Bank Rs 46.8 million (222,000 shares traded) hZenid Rs 46 million (1.7 million shares traded) and Exterminator Rs 45.7 million (2.7 million shares traded). During the day 120 million share volumes changed hands in 23424 transactions.

It is said that banking sector counters, especially Commercial Bank, performed well, IT solutions companies, especially hZenid, also performed well. Manufacturing sector companies, especially ACL Cables, was also significantly active at the floor.

Yesterday the rupee was quoted at Rs 317.75/318.25 to the US dollar in the spot market, after hitting Rs 318.25/319.00 the previous day, dealers said, while bond yields were broadly steady.

A bond maturing on 01.07.2028 was quoted at 9.70/80 percent, down from 9.75/78 percent.

A bond maturing on 15.06.2029 was quoted at 9.90/95 percent.

A bond maturing on 15.10.2029 was quoted at 9.95/10.00 percent, down from 9.95/10.05 percent.

A bond maturing on 15.12.2029 was quoted flat at 10.00/05 percent.

A bond maturing on 01.03.2030 was quoted at 10.00/05 percent.

A bond maturing on 15.12.2032 was quoted at 10.75/85 percent, down from 10.70/90 percent.

A bond maturing on 01.11.2033 was quoted flat at 10.95/11.05 percent, up from 10.95/11.00 percent.

By Hiran H Senewiratne