Business

ADB to help Sri Lanka realise its aspirations on climate investments

Published

1 year ago

2024/10/24

Sahan Weerasooriya

The panel discussion in progress Pic by Nishan S. Priyantha

By Sanath Nanayakkare

The Asian Development Bank (ADB) launched a programme yesterday to support the government of Sri Lanka to prepare an integrated climate responsive investment portfolio comprising a pipeline of bankable green investment opportunities.

This was announced by Takafumi Kadono, ADB Country Director at an event hosted by the Bank at ITC Ratnadeepa Hotel in Colombo.

It turned out to be a historic workshop in Sri Lanka since the country signed the much touted Paris Agreement on Climate Action because it was a ‘programmatic session’ where local environment experts were subtly challenged to come up with home-grown green projects to attract local and foreign investors by presenting a convincing climate resilient economic narrative where investors would dare put their money in.

The ADB may have its own ideas for Sri Lanka in this regard with its regional experiences, but the Bank’s intention at the workshop was to find out whether the local experts also had valuable inputs to expand the investment scope with sectoral perspectives from fields such as Agriculture, Water, Energy, Transportation, Tourism etc.

In a nutshell, the forum focused on identifying full scale ready-to-invest projects for climate change adaptation and resilience building.

The following are some excerpts from the speech made by the Country Director of ADB.

“It is an honour to join you at the national inception workshop to launch the ADB regional technical assistances programme focused on “Sustaining Climate and Disaster Risk Resilient and Low Carbon Development in South Asia”.

Takafumi Kadono- Country Director ADB

“Sri Lanka is one of six countries supported by TA9700. This high-level gathering resonates deeply with my personal and professional values. This workshop is a critical platform to amplify public sector voices leading the combat against climate change, a planetary emergency we can no longer ignore. Climate change is regarded worldwide as an overarching development challenge. It can seriously affect economic growth, food security, public health, cultural heritage, social stability, migration, and even the national security of countries.

‘Sri Lanka is a negligible contributor to global warming. However, as a nation, we are highly vulnerable to the impacts of climate change, which include increases in the frequency and intensity of disasters uch as droughts, floods and landslides, variability and unpredictability of rainfall patterns, increase in temperature and heat stress; sea level rise, and salinity intrusion among others. Living and coping with uncertain impacts of climate change is no longer a choice; it is an imperative. Sri Lanka needs to address climate change adaptation to ensure that its economic development can continue without disruption or setbacks, so that investments in poverty reduction, food and water security, and public health will not be undone. Given the severity and the far-reaching impacts of climate change affecting every aspect of our lives and our nation, our response must be integrated, sustainable, just, and inclusive”.

“We share a common goal of securing the transition to net zero emissions and a climate-resilient future both of which are critical to sustainable development and economic growth. Responsive measures such as decarbonization, climate change adaptation, and resilience building are all essential; and achieving this transformation across the development sectors, requires horizontal cooperation among the stakeholders, development partners and strong public and private finance commitments. Sri Lanka now has a unique opportunity to rebuild from the pandemic and economic recession and secure a prosperous, inclusive, resilient, and sustainable future. We need strong commitment from the Government of Sri Lanka and unwavering cooperation among partners to make this happen. Sri Lanka can lead by example. ADB will fully support the Government of Sri Lanka through our sovereign and private sector operations, technical assistances, and knowledge partnerships.”

“This workshop is the beginning of an extensive consultation process to the views of a wide range of stakeholders on how we can develop an integrated climate responsive investment plan for Sri Lanka” , he said.

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Business

SEC Sri Lanka eases Minimum Public Holding Rules for listings via introductions to boost market flexibility

Published

20 mins ago

2026/01/1

Thilina Walpola

The Securities and Exchange Commission of Sri Lanka (SEC) has approved amendments to the Colombo Stock Exchange (CSE) Listing Rules to provide greater flexibility regarding the Minimum Public Holding (MPH) requirement for companies listing through the Introduction method.

These revisions were proposed and deliberated under Project 6 – New Listings (Public and Private), one of 12 key strategic initiatives launched by the SEC to strengthen Sri Lanka’s capital market framework. Project 6 aims to drive national capital formation, promote listings by highlighting benefits and opportunities for listed entities, and attract large-scale corporates to enhance market depth, liquidity, and investor confidence.

The amendments reflect a joint effort by the SEC and CSE, underscoring strong collaboration between the regulator and the Exchange to address evolving market needs while maintaining market integrity, transparency, and investor protection.

The salient features of the amendments to the CSE listing Rules are as follows;

Entities seeking listing by way of an Introduction on the Main Board or Diri Savi Board that are unable to meet the MPH requirement at the time of submitting the initial listing application, may now be granted a listing, subject to certain conditions on compliance.

Non-public shareholders who have held their shares for a minimum period of eighteen months prior to the date of the initial listing application may divest up to a maximum 2% of their shares each month during the six months commencing from the date of listing, and simultaneously, be subject to a lock-in requirement of 30% of their respective shareholdings as at the date of listing, until MPH compliance or 18 months from the date of listing, whichever occurs first.

A phased MPH compliance framework has been introduced requiring a minimum 50% compliance with MPH requirement within 12 months and full compliance within 18 months from the date of listing.

Entities should include clear disclosures in the Introductory Document confirming their obligation to meet MPH requirements within the prescribed timelines.

In the event of non-compliance with the MPH requirement, certain enforcement actions have also been introduced.

The revised framework is expected to encourage more companies to consider listing via Introduction, thereby broadening market participation, improving liquidity, and contributing to the overall development of Sri Lanka’s capital market. Issuers, investors, and market intermediaries will benefit from a more enabling yet well-regulated listing environment.

Business

Manufacturing counters propel share market to positive territory

Published

21 mins ago

2026/01/1

Thilina Walpola

Stock market activities were positive yesterday, mainly driven by manufacturing sector counters, especially Sierra Cables, Royal Ceramics and ACL Cables. Further, there was some investor confidence in construction sector counters as well.

Amid those developments both indices moved upwards. The All Share Price Index went up by 150.54 points, while the S and P SL20 rose by 41.5 points. Turnover stood at Rs 4.65 billion with six crossings.

Those crossings were reported in Royal Ceramics which crossed 3.8 million shares to the tune of Rs 174.3 million; its share s traded at Rs 45.20, VallibelOne 1.4 million shares crossed to the tune of Rs 138.6 million; its shares traded at Rs 99, Melstacorp 500,000 shares crossed for Rs 87.24 million; its shares traded at Rs 174.50, Sierra Cables two million shares crossed for Rs 68.2 million, its shares sold at Rs 34.30, Kingsbury 1.5 million shares crossed for Rs 31.8 million; its shares traded at Rs 21.20.

In the retail market companies that mainly contributed to the turnover were; Sierra Cables Rs 418 million (20 million shares traded), Royal Ceramics Rs 363 million (eight million shares traded), Colombo Dockyards Rs 323 million (1.7 million shares traded), ACL Rs 311 million (3.5 million shares traded), Renuka Agri Rs 149 million (12.3 million shares traded), Sampath Bank Rs 94.7 million (648,000 shares traded) and Bogala Graphite Rs 86.4 million (529,000 shares traded). During the day 122.8 million shares volumes changed hands in 34453 transactions.

Yesterday the rupee opened at Rs 310.00/25 to the US dollar in the spot market, weaker from Rs 310.00/310.20 the previous day, dealers said, while bond yields were broadly steady.

By Hiran H Senewiratne

Business

Atlas ‘Paata Lowak Dinana Hetak’ celebrates emerging artists nationwide

Published

21 mins ago

2026/01/1

Thilina Walpola

Atlas, Sri Lanka’s leading learning brand, reaffirmed its purpose of making learning fun and enjoyable through the Atlas All-Island Art Competition 2025, which concluded with a gifting ceremony held recently at Arcade Independence Square under the theme ‘Atlas paata lowak dinana hetak’. Students from Preschool to Grade 11 showcased their talents across five categories, with all island winners receiving cash prizes, certificates, and gift packs. Additionally, merit winners in each category were also recognized. The event brought together students, parents, and educators, highlighting Sri Lanka’s cultural diversity, nurturing young talent, and reinforcing Atlas’s long-standing commitment to education, creativity, and building confidence among schoolchildren. The event concluded with the ‘Atlas Art Carnival’, which brought children and parents together through games and creative art activities in a fun and lively atmosphere.