Business
Stock market pushed to ‘red territory by unwholesome political environment’
By Hiran H.Senewiratne
The stock market yesterday indicated a downward trend for 12 consecutive working days due to the growing unwholesome political environment, which pushed the market to red territory, market analysts said.
Amid those developments both indices moved downwards. The All Share Price Index went down by 46.39 points, while the S and P SL20 declined by 10.3 points. Turnover stood at Rs 1.1 billion with four crossings. Those crossings were reported in Richard Pieris, which crossed 5 million shares to the tune of Rs 102.5 million and its shares traded at Rs 20.5, Melstacorp 400,000 shares crossed for Rs 29.6 million; its shares traded at Rs 74, JKH 320,000 shares crossed for Rs 53.1 million; its shares traded at Rs 166 and CTC 36000 shares crossed for Rs 42.4 million; its shares sold at Rs 1160.
In the retail market companies that mainly contributed to the turnover were; JKH Rs 80.6 million (484,000 shares traded), Commercial Bank Rs 58.1 million (695,000 shares traded), HNB Rs 55.1 million (335,000 shares traded), Lanka Lubricants Rs 51.4 million (445,000 shares traded), Lanka IOC Rs 46.6 million (461,000 shares traded), Sampath Bank Rs 39.5 million (581,000 shares traded) and Browns Investments Rs 37.8 million (7.9 million shares traded). During the day 47.1 million share volumes changed hands in 11900 transactions.
Dialog Axiata completed its amalgamation with Bharti Airtel Lanka Ltd. under the applicable provisions of the Companies Act, with Dialog remaining as the surviving entity.
This marks the official cessation of Airtel Lanka as a corporate entity, effective 30 August, with its operational performance fully subsumed and consolidated within Dialog’s financial statements.
Further, Digital Mobility Solutions Lanka Limited, which operates Sri Lanka’s PickMe application for booking taxis, will be publicly listed, the CSE said.
The initial public offer will be by its shareholders selling 43.34 million shares at Rs 36 to get about Rs 1.5 billion. The issue will open on September 13.CT CLSA Capital (Pvt) Ltd and Capital Alliance Partners Limited are advisors. The prospectus will be available on the CSE website from September 03.
Yesterday, the rupee appreciated at Rs 299.10/30 to the US dollar on the previous day, dealers said. Bond yields were broadly steady, they said, and stocks opened up 0.03 percent.
The rupee closed at Rs 298.80/299.00 to the greenback on the previous day. In the secondary market; a bond maturing on 15.12.2026 was quoted at 11.00/15 percent, down from 11.05/20 percent. A bond maturing on 15.12.2027 was quoted stable at 12.00/15 percent. A bond maturing on 01.07.2028 was quoted at 12.85/95 percent, up from 12.80/95 percent. A bond maturing on 12.06.2029 was quoted at 12.95/13.15 percent.
Business
From Mt. Fuji to Sri Pada: Lessons from a father-son climb
by SK Samaranayake
For Daham Gunasena, reaching the summit of Mt. Fuji with his 12-year-old son was not the end of the journey but the beginning of a different kind of lesson.
Gunasena, Director – Commercial at SPAR Sri Lanka and a senior business leader, academic and Chartered Accountant, spent nearly 12 hours on August 19 climbing Japan’s highest mountain with his son, Methum. After eight hours of climbing, the pair reached the 3,776-metre summit before beginning a demanding four-hour descent to Fujinomiya 5th Station.
“The summit was only halfway,” Gunasena reflected, describing the experience as a lesson in preparation, perseverance and responsibility.
Their journey began two days earlier with a trial excursion to the 6th Station and the volcanic landscape around Mt. Hoei. The experience allowed Gunasena to assess the altitude, terrain, weather and equipment before deciding whether his son was ready for the summit attempt.
The climb itself reinforced the value of taking one step at a time. Rather than focusing on the distant summit, father and son concentrated on the next marker, the next few steps and short periods of rest.
Reaching the summit brought another lesson. After taking photographs and celebrating, they still had four hours of descent ahead of them over loose volcanic terrain.
“Reaching the top was an achievement. Returning safely was success,” Gunasena said.
The experience also prompted him to reflect on how Japan manages Mt. Fuji, including visitor education, digital information, sanitation, transport, safety and environmental protection.
Having climbed Sri Pada 12 times last year and five times so far this year, Gunasena sees opportunities to apply some of these principles in Sri Lanka without compromising the mountain’s unique pilgrimage traditions.
He suggested a comprehensive digital platform for Sri Pada providing information on weather, congestion, transport, sanitation, first aid and emergencies, while educating foreign visitors about its religious significance.
For Gunasena, however, the most enduring lesson was personal: a mountain can teach what lectures cannot—through preparation, perseverance, respect for nature and the shared experience of taking each step together.
Business
FLIR, Marlbo promote smarter industrial maintenance
Sri Lankan industries are being encouraged to adopt advanced condition monitoring technologies to detect equipment problems before they develop into costly failures, as global technology company FLIR and its local partner Marlbo Trading Company strengthen their collaboration.
The companies brought together industry professionals at a technical seminar held on August 20 at Taj Samudra, Colombo, focusing on the use of thermography and acoustic imaging to reduce unplanned downtime, improve energy efficiency and lower maintenance costs.
Organised by Marlbo under the theme “Condition Monitoring Using Thermography and Acoustic Imaging for Measurable ROI,” the seminar highlighted the growing importance of proactive and predictive maintenance in improving equipment reliability and operational efficiency.
FLIR Sales Director – Instrumentation, India, Bhaskar Lala, and APAC Condition Monitoring Specialist David Gambarte shared their expertise on the latest diagnostic technologies and their practical industrial applications.
Thermal imaging can identify abnormal heat patterns linked to electrical and mechanical faults, while acoustic imaging can detect problems that may go unnoticed during routine inspections.
The technology is particularly useful in identifying compressed-air leaks, which can cause significant energy losses and increase operating costs.
Shevon Liyanage, Engineer – Measuring Instruments at Marlbo, also shared insights into applying condition monitoring technologies in the Sri Lankan industrial environment.
Business
Lumbini Tea Valley wins intl award for Singharaja Wirytips
Lumbini Tea Valley Ceylon won an award for its Singharaja Wirytips at The Leafies: International Tea Awards held in London in 2024, marking another international recognition for the Sri Lankan tea producer.
The award comes as the company marks two decades of direct exports, with its premium and organic Ceylon teas now reaching 35 countries across six continents.
Established in 1984, Lumbini Tea Valley began its direct export drive after Chaminda Jayawardana joined the family business in 2000 alongside his father, Dayapala Jayawardana. The initiative materialised in 2006 with the company’s first direct shipment—a 15-kilogram consignment of Flowery Broken Orange Pekoe (FBOP) tea to the United States.
Since then, the company has expanded its direct-export operations, which now account for around 20% of its total manufacturing output. Following its transition to organic production, approximately half of its organic tea output is exported directly by the company.
Its key export markets include Japan, the United States, France, the Netherlands, Switzerland and Australia, with direct shipments now reaching 35 countries.
The company said its direct-export model would continue to expand amid growing international demand for traceable, single-origin Ceylon tea, with premium and organic grades at the centre of its export strategy.
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