Hemas Pharmaceuticals and Hemas Surgicals & Diagnostics, the market leader in pharmaceutical distribution in Sri Lanka, has appointed Dr. Mahesha Ranasoma as its Managing Director, effective April 2, 2025.

For over six decades, Hemas Pharmaceuticals has played a pivotal role in strengthening Sri Lanka’s healthcare sector. Through long-standing partnerships with globally renowned healthcare principles, the company has consistently ensured access to high-quality, safe, and effective healthcare solutions across the country. As a trusted partner of all stakeholders, Hemas remains dedicated to advancing access to innovative healthcare solutions, while upholding the highest standards of quality, compliance, and ethical practice.

“As we continue to expand our leadership position in the healthcare sector, Dr. Ranasoma’s extensive experience and proven ability to lead complex operations across multiple industries will be instrumental to pivot to the future. His purpose-driven leadership style is deeply aligned with Hemas’ values and will play a vital role in strengthening our partnerships, keeping the country’s healthcare needs at the forefront, and driving sustainable, long-term growth,” said Murtaza Esufally, Chairman of Hemas Healthcare.

Dr. Ranasoma brings over 25 years of cross-sector leadership experience in both multinational and local organizations. Prior to joining Hemas Pharmaceuticals, he served as CEO of Global Rubber Industries (GRI) and as Managing Director of Dipped Products PLC under the Hayleys Group. He has also held regional leadership roles, including Country Chairman of Shell Sri Lanka and General Manager of Shell Vietnam, where he led transformational initiatives in growth, innovation, and operational excellence.

“I am honoured to join Hemas Pharmaceuticals at such a dynamic time in the healthcare industry,” said Dr. Mahesha Ranasoma. “Hemas has built a strong reputation for excellence in pharmaceutical distribution and healthcare solutions. I look forward to working with our talented team and esteemed partners to further strengthen our market leadership, enhance accessibility to quality medicines, and contribute meaningfully to the healthcare eco-system.”

Under Dr. Ranasoma’s leadership, Hemas Pharmaceuticals and Hemas Surgicals & Diagnostics will continue to be a trusted partner in delivering innovative and high-quality healthcare to all Sri Lankans.

Weddings on the beach, an aqua platform to be served dinner in the sea; four ocean pavilions, informal camaraderie, more so, come as you are atmosphere for informality and bonhomie un matched in any resort.

What are we talking about? Just a cautious; yet unavoidable blend for a holiday; and an atmosphere of ‘let yourself go’, experience unmatched in a resort hotels.

Where are these ‘happenings’? At the Sun Siyam Pasikudah.

Just so, assuming you’ve been to the Maldives, and factually, it’s a demand driven destination, to the US, so too, we assume, Sun Siyam Pasikudah is a growing destination for holidays in the warm waters of the Indian Ocean surrounding the East coast of this island.

Why surrounding? Simple; just that Sun Siyam Pasikudah perched by the sea, apart from the warm waters bordering the resort; we are also of the positive atmosphere of the shallow sea abutting the picturesque appeal viewed from the sea. Appealing to tourists already enjoying the numerous attractions of this resort facility.

Our observations were French, Germans and other Europeans were already enjoying the facilities of Sun Siyam Pasikudah.

General Manager Arshed Refai was on hand to give us detailed explanation on facilities guests could expect and enjoy and numerous offerings that appeal for long stays. Quite regularly, he said, guests are quite reluctant to depart. Particularly Europeans who we observed enjoying the sun and more so walks along the beach.

Additionally, Ministry of Tourism provided train services as well to encourage tourist traffic to the East to enjoy the growing popularity of this resort and other resorts we observed in the area.

GM Refai further said the dining experience, and varied choice of cuisine catered to each national from West to East; which, he said, was quite in order to cater to choices in food and individual taste desires.

Originally launched in 2014 as Sun Aqua Pasikudah, the property underwent a rebranding in 2020, becoming part of Sun Siyam Resorts Collection and adopting the name of Sun Siyam Pasikudah. ‘Was it popular among local tourists’? He responded positively that its appeal was growing, related to the chain of other destinations in the East. Additionally, its popularity and appeal, particularly to its chalets and Five Star luxury was in reality not an available concept elsewhere.

Chef Dilan Jayasundera, explained varied cuisine and food flavours he was adept in producing to ensure guests were not in need, food vice.

He further said a broad cross section of tastes was catered to.

Asst General Manager Keerthi expanding on additional facilities said 34 rooms were villa style accommodation spread over the land. Four ocean pavilions complemented a formal atmosphere.

GM Refai further said 90 guests at peak accommodation enjoyed international cuisine.

Excursions, to the fish market, sea observations in glass bottom boats to observe fauna and flora under water, including the varied amphibian fish population were of great appeal.

Questioned on any Maldivian influence, he said, Sun Siyam was not influenced by the Maldives, but its style was of broad appeal.

The resort’s transformation showcases bold monochromatic interiors balanced with rich golden tones, creating a unique, sophisticated, and chic environment. The resort offers distinct culinary adventures, immersing guests in Sri Lanka’s vibrant flavors and colonial traditions. Noteworthy options include The Cellar, Sri Lanka’s largest wine cellar on the eastern coast, the Tea House with an extensive tea collection for a delightful tasting journey, Slice & Grill, a fast-casual poolside concept with a retro design, and the Beach Shack, a tropical paradise with Caribbean vibes.

By Steve A. Morrell

The CSE yesterday moved upwards when other stock markets, especially those in the Asian region, bounced back. This was considered a technical bounce back after witnessing huge selling pressure following the US President Donald Trump’s reciprocal tariff hikes, stock market analysts said.

On Monday, the market plunged more than 5 percent shortly after opening, triggering a trading halt for a while. But yesterday Asian markets technically bounced back. Therefore, the CSE also moved towards green territory, which put the market into a stable position, market analysts added.

The All Share Price Index went up by 460 points while S and P SL20 rose by 190 points. Turnover stood at Rs 2.9 billion with four crossings. Those crossings were reported in JKH, which crossed 5.8 million shares to the tune of Rs 115 million and its shares traded at Rs 19.7, Access Engineering 2.95 million shares crossed to the tune of Rs 110 million; its shares traded at Rs 37.3, DIMO 72000 shares crossed to the tune of Rs 72.3 million; its shares sold at Rs 1000 and HNB 150,000 shares crossed for Rs 41.8 million, its shares traded at Rs 279.

In the retail market top seven companies that mainly contributed to the turnover were; Sampath Bank Rs 302 million (2.8 million shares traded), Commercial Bank Rs 206 million (1.5 million shares traded), HNB Rs 163 million (585,000 shares traded), JKH Rs 138 million (7.1 million shares traded), Access Engineering Rs 123 million (3.2 million shares traded), Prime Lanka Rs 90.8 million (8.2 million shares traded), and RIL Properties Rs 87.8 million (5.7 million shares traded). During the day 148 million share volumes changed hands in 20000 transactions.

It is said that the manufacturing and banking sectors were the main contributors to the turnover. JKH was the main contributor from the manufacturing sector while Sampath Bank and Commercial Bank were second largest contributors to the turnover.

Siyapatha Finance, a subsidiary of Sri Lanka’s Sampath Bank, will issue up to 50 million debentures to raise Rs 5 billion, the finance company said. Initially 30 million of the listed, rated, senior, unsecured, redeemable debentures will be issued at Rs 100 each.

In the event of an oversubscription of the initial issue a further 10 million debentures will be issued, the company reportedly said.

Commercial Bank’s proposed Rs 15 billion green bond issue has been assigned an expected national long-term rating of ‘A (EXP)(lka)’ by Fitch Ratings. The Basel III-compliant subordinated green bonds with a non-viability clause, maturing in 5, 7 and 10 years, will be listed on the Colombo Stock Exchange.

Yesterday, the rupee was quoted at Rs 298.00/50 to the US dollar in the spot market, weaker from Rs 297.70/298.20 on the previous day, dealers said, while bond yields were broadly steady.

A bond maturing on 15.12.2026 was quoted at 9.45/55 percent, up from 9.40/55 percent. A bond maturing on 15.09.2027 was quoted flat at 9.95/10.05 percent. A bond maturing on 15.10.2028 was quoted at 10.40/50 percent, down from 10.45/50 percent. A bond maturing on 15.12.2029 was quoted at 10.80/85 percent, from 10.75/95 percent. A bond maturing on 15.10.2030 was quoted at 10.80/11.00 percent, down from 10.85/11.10 percent.

The Central Bank announced there would be an auction of Rs.100, 000 million Treasury bonds on Thursday and an auction of Rs. 80,000 million Treasury bills today.

The Central Bank’s telegraphic transfer rate for euro buying was Rs 320.2358 and selling was Rs 333.0218 .TT for yen buying was Rs 1.9831, and selling was Rs 2.0604. TT for US dollar buying was Rs 293.4455, selling Rs 302.1451.

By Hiran H.Senewiratne