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Two options left for concerned shareholders of Adam investments

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By Hiran H.Senewiratne

The shareholder certificate of any listed company is the most important document that every single shareholder possesses in the event of a de-listing of a company from the CSE and that could be used as proof to recover funds invested in the stocks, Head of Marketing of CSE Niroshan Wijesundara told the Island Financial Review recently.

“In the event of a delisting of a company,  with the share certificate, such investors have two options i.e. either offer those existing shares to the same company and recover money or sell it to another outside party and recover that money, ” Wijesundera said.  

‘He said that three companies namely Adam Investments , Ceylon and Foreign Traders and Adam Capital have applied for delisting. “Therefore, investors could do either one of the two options, which would be considered as private transfers and would have nothing to do with the CSE,” Wijesundera said.

The Island Financial Review spoke to him in the backdrop of Adam investments Plc, one of the oldest listed companies in the CSE has applied to de-list its company along with two other companies namely; Ceylon and Foreign Traders and Adam Capital belongs to the same entity.

Some shareholders are upset over what would happen to their funds that have been invested via the stock exchange  in the event of being removed or delisting from the CSE list.

According to shareholders, new management came into being in 2017 and  from 2018 onward the company never published/issued nor received  a single annual report or a  quarterly report, which was mandatory for every listed company in the CSE to publish results of the company . 

Further, the last Annual General Meeting was held in 2018. With those developments the company was warned by the CSE. Therefore, the company has applied to move out of the CSE in 2019, but still pending its decision, investors said.

The Company holds shares of privately held companies operating in various industries, such as apparel, metal, network communication and automobile, and in quoted equity shares in the CSE.

Minority shareholder John Abeydeera told the Island Financial Review that he has invested Rs four million from 2018 onwards the company has not published a single annual report nor quarterly results.

Chairman Dr. Ali Asger Shabbir Gulamhusein had promised to put the company in order but so far nothing has been materialised,” he said.

Another shareholder J.S.M Rauff said that he had bought 184,627 shares now it could be valued for Rs two million . Since 2018 the company has been mismanaged by the board of directors and their management is stuck because trading is not happening with the stock market, he said.

When the Island Financial Review tried to contact Chairman  Ali Asger Shabbir Gulamhusein he did not respond to queries about the status quo of the company. 

Company  Secretary Dilusha Gamage said she had already left the company couldn’t comment anything about the company.

Former Director of the company Dr Larry Adams said that he couldn’t comment on the company as he left it many years ago.   



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World Bank puts USD 110m into climate-resilient road rebuilding

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A Cyclone Ditwah-damaged area in Sri Lanka.

By Ifham Nizam

The World Bank has approved USD 110 million in additional financing to rebuild around 600 kilometres of roads damaged by Cyclone Ditwah, with the investment aimed not merely at restoring connectivity but at making critical transport infrastructure more resilient to future climate shocks.

The financing comes against a much larger recovery requirement for the transport sector, estimated at USD 1.31 billion, highlighting the scale of the infrastructure challenge following one of the most destructive weather disasters to hit the country in recent years.

The World Bank said the additional financing, provided through the International Development Association (IDA) Crisis Response Window, would support road reconstruction incorporating improved drainage, landslide protection and upgraded engineering standards.

‘Cyclone Ditwah has had a devastating impact on connectivity across Sri Lanka, but rebuilding also gives us an opportunity to build back stronger, said Gevorg Sargsyan, World Bank Group Country Manager for Sri Lanka and Maldives.

The World Bank said the programme would go beyond repairing damaged roads, helping reconnect farmers with markets, communities with essential services and households with economic opportunities.

The additional financing will extend the Inclusive Connectivity and Development Project (ICDP) by three years, taking total World Bank transport investment under the operation to USD 610 million.

The World Bank’s December 2025 GRADE assessment estimated Cyclone Ditwah had caused USD 4.1 billion in direct physical damage, equivalent to around four percent of GDP. Infrastructure accounted for approximately USD 1.735 billion, or 42% of the total, with roads, bridges, railways and water systems among the heavily affected assets.

The Bank has stressed that the USD 4.1 billion estimate measures direct physical damage and does not include income or production losses or the full cost of recovery and reconstruction.

The transport sector alone suffered extensive disruption, making the rebuilding of road networks a critical component of the broader economic recovery.

The latest USD 110 million package is expected to directly benefit more than 830,000 people, while nearly two million people across eight districts are expected to benefit from improved connectivity.

The programme is also expected to support employment during reconstruction and improve market access for approximately 22,000 tea, vegetable and paddy farmers.

The World Bank’s intervention therefore combines immediate disaster recovery with a longer-term infrastructure objective: ensuring that money spent on reconstruction does not simply restore roads to their pre-disaster condition but reduces their vulnerability to the next extreme-weather event.

That approach is becoming increasingly important as climate-related disasters place additional pressure on already constrained public finances.

Rebuilding the same infrastructure repeatedly after floods, landslides and other disasters carries a significant economic cost, making resilience an increasingly important part of infrastructure investment decisions.

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SLIC Life offers Rs.1million free life cover to parents of children born on World Children’s Day 2026

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Senior Management of SLIC Life and officials of Castle Street Hospital for Women symbolically handing over a Free Life Cover of Rs. 1 million to a parent whose child was born on 1st of October 2026

In celebration of World Children’s Day 2026, Sri Lanka Insurance Life (SLIC Life) has once again extended a Rs. 1 million free life insurance cover to the parents of every child born on 1 October 2026, across Sri Lanka. Now in its fifth consecutive year, the initiative was implemented island-wide, covering hospitals across the country and enabling parents of newborns to benefit from this special offering.

Beyond providing financial protection, the initiative seeks to highlight the importance of planning for a family’s financial security from the very beginning of a child’s life.

“The birth of a child marks the beginning of a new journey filled with hopes, dreams and aspirations. At SLIC Life, we believe that protection should begin from the very start of that journey. Through this initiative, we aim to create greater awareness of the importance of planning ahead and the role life insurance can play in safeguarding families against life’s uncertainties. As we continue this initiative for the fifth consecutive year, we remain committed to extending meaningful protection to Sri Lankan families and contributing towards a more secure future for the next generation,” said Dr. Sameera Dharmasena, Chief Executive Officer of SLIC Life.

Launched in 2022 as part of SLIC Life’s Corporate Social Responsibility (CSR) programme, the World Children’s Day initiative was introduced with the aim of supporting parents and strengthening financial security for families at an important stage in their lives. Over the years, the initiative has become a significant part of SLIC Life’s annual CSR calendar, reflecting the company’s broader commitment to children, families and communities.

SLIC Life’s commitment to children and education extends across several long standing CSR initiatives. The ‘Pasal Piriyatha Surakimu’ programme, launched in 2007, has benefited over 3,365 underprivileged schools through initiatives including classroom refurbishments, water facilities, libraries and learning resources. The 2026 edition of the programme is scheduled to be carried out in November, continuing SLIC Life’s efforts to enhance learning environments for children across the country. Complementing this, the ‘Suba Pathum Scholarship Programme’, which has been conducted since 2014, has now awarded 2,425 scholarships valued at Rs. 265 million to children of policyholders who demonstrate excellence in national examinations. The programme reflects SLIC Life’s continued focus on supporting educational aspirations and creating opportunities for the next generation.

Children remain at the heart of SLIC Life’s commitment to building a more secure future. Through the annual World Children’s Day initiative and its wider CSR programmes, SLIC Life continues to demonstrate that the value of insurance extends beyond financial protection, contributing to stronger and more resilient families and communities.

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HelpAge thanks donors for helping in carrying out free cataract surgery program

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A surgery in progress under the aegis Helpage.

At a recent seminar HelpAge Sri Lanka (HASL) thanked local and foreign donors for strengthening the on-going free cataract surgeries program conducted by HelpAge Eye Hospital, Wellawatta for less- privileged elders over 55 years.

According to HelpAge Eye Hospital statistics the free cataract surgery programme was commenced in 2002 and over 55,000 surgeries have so far been performed for elderly citizens.

Head of HelpAge Eye Hospital Mahanama Wijesinghe said needy persons over 55 years of age could contact the hospital on telephone numbers 0112555759 and 0112589450 for free cataract surgeries.

‘Steps have been taken to conduct surgeries within a short duration of 30 days after attending the Eye Hospital clinic, he said.

Wijesinghe thanked all donors for their donations towards helping underprivileged citizens of the country.

HelpAge, Executive Director Dr. Harsha Bandara said HelpAge also conducts free medical and eye camps for needy elders and thanked donors for their donations towards this meritorious cause.

He requested philanthropists and donors to make their contributions for the sake of the needy.

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