Business
AMF and AFC in landmark merger; CSE indices up

By Hiran H.Senewiratne
Two of Sri Lanka’s oldest and most respected finance companies, Associated Motor Finance Company PLC (AMF) and Arpico Finance Company PLC(AFC) joined strengths officially at the CSE on April 1.
The months-long process for this landmark merger was officially completed in full compliance with the protocols. The merged entity will forge ahead as AMF, with the combined strengths of the two companies and a clear vision to rise high in Sri Lanka’s financial services industry, stock market analysts said.
CSE gained further momentum yesterday with both indices up, amid improved turnover reaching Rs. 5.16 billion with five crossings. The market witnessed buying interest for several selected stocks, especially manufacturing sectors counters. Both indices moved upwards. All Share Price Index was up by 22.99 points and S and P SL20 up by 22.33 points.
Crossings took place in HNB, which crossed 13.36 million shares to the tune of Rs. 1.73 billion, its shares trading at Rs. 130, Expolanka one million shares crossed for Rs. 47.5 million and its shares traded at Rs. 47.40. Haycarb 300,000 shares crossed for Rs. 34.5 million, its shares traded at Rs. 115, Royal Ceramic 101,000 shares crossed for Rs. 32.3 million, its shares traded at Rs. 320 and LOLC 68000 shares crossed for Rs. 20.4 billion, its shares fetching Rs. 300.
In the retail market, five companies that contributed to the turnover were, Dipped Products Rs. 528 million (9.3 million shares traded). Royal Ceramic Rs. 324 million (1.03 million shares traded), Hayleys Rs. 283 million (3.8 million shares traded), Expolanka Rs. 218 million (4.5 million shares traded), LOLC Rs. 203 million (675,000 shares traded). During the day 97.7 million share volumes changed hands in 25530 transactions.
Manufacturing sector counters witnessed some appreciation of its stocks during the day. Melstacorp contributed the highest points to the All Share Price Index, which was 5.33 points. Its share price moved up by Rs. 2 or 4 percent. Its share started trading at Rs. 47 and at the end of the day it moved to Rs. 49. Royal Ceramic contributed 4.63 points to the All Share Price Index. Its shares appreciated by 6 percent or Rs. 18. Its shares started trading at Rs. 301 and at the end of the day they moved up to Rs. 320 and HNB, contributed four points to the All Share Price Index. Its shares moved up by Rs. 4 or 3 percent. Its shares started trading at Rs. 126 and at the end of the day they moved to Rs. 130.
Even though the current positive movement in the market is encouraging, it is believed that market momentum will gather pace after the Sinhala and Tamil New Year holidays.
Consequently, it is better for investors to start accumulating a well-diversified portfolio of stocks which are cash generative, have strong earnings and revenue growth attributes and possess the ability to outperform over the longer term, market analysts said.
Business
Share investors worried over Wealth and Heritage tax

By Hiran H Senewiratne
CSE trading kicked off on a positive note yesterday but the momentum could not be sustained for long owing to investor worries that the government is planning domestic debt restructuring involving the imposition of a wealth and heritage tax on citizens, market sources said.
Amid those developments both indices moved downwards. The All -Share Price Index went down by 131 points and S and P SL-20 declined by 46.8 points. Turnover stood at Rs 3.4 billion with four crossings. Those crossings were reported in Agalawattte Plantations, which crossed 45.3 million shares to the tune of Rs 1.5 billion, its shares traded at Rs 35, CTC 420,000 shares crossed for Rs 269 million and its shares traded at Rs 640, Cargills 100,000 shares crossed to the tune of Rs 24.5 million; its shares traded at Rs 245 and Hayleys 300,000 shares crossed for Rs 24 million; its shares traded at Rs 80.
In the retail market top seven companies that mainly contributed to the turnover were, SLT Rs 234 million (two million shares traded), Hayleys RS 121 million (1.5 million shares traded), Lanka IOC Rs 106 million (115,000 shares traded), Softlogic Capital Rs 69 million (5.6 million shares traded), CTC Rs 65.3 million (101,000 shares traded), Sampath Bank RS 54.7 million (one million shares traded) and Commercial Bank RS 52.5 million (801,000 shares traded).During the day 164 million share volumes changed hands in 20000 transactions.
Business
Brandix ‘RightToRead’ initiative gains momentum enriching Sri Lanka students and transforming learning

Inspired by the challenge to provide Sri Lankan children with better access to learning materials and the transformative power to read and comprehend English, Brandix launched the ‘RightToRead’ project in 2018 in collaboration with the Ministry of Education.
Accordingly, Brandix introduced the ‘ReadToMe’ English learning tool, created by English Helper – India, to improve reading and comprehension skills of Sri Lankan students. Last Monday, Julie Chung, the US Ambassador to Sri Lanka, visited Susamayawardhana Vidyalaya in Borella, to observe progress of the project and experience how children and educators in Sri Lanka engage with educational technology.
Brandix Lanka Limited, Director, Ajit Johnpillai, said: “Education is the most powerful tool to enrich communities and futures, and Brandix is committed to build a strong foundation for transformational learning for students across Sri Lanka. The progress we have made with RiteToRead over the past two years is promising, and the potential for change in the education sector harnessing such digital technologies is immeasurable. Brandix will continue its commitment to deliver Inspired Solutions for the people of Sri Lanka.”
Business
Dialog TV Boosts Resilience and Capacity with Norsat Satellite Earth Station

Hytera, a leading global provider of professional communications technologies and solutions, is proud to announce the successful deployment of a new backup satellite station for Dialog TV, Sri Lanka’s No.1 satellite Pay TV service provider. The project was fulfilled in 2022 by Hytera and its subsidiary specialized in Satellite Communications (SatCom), Norsat International Inc. The new station enhances the resilience and capacity of Dialog TV’s existing system and ensures continuity of service in the event of damage due to natural disasters.
Dialog TV provides coverage over the entirety of Sri Lanka through the Intelsat 38 Ku-band satellite. As the business expanded, it opted for a backup solution to support its existing satellite station and to strengthen the network’s disaster tolerance.
Hytera and Norsat provided an end-to-end satellite earth station solution that includes the installation, integration, and setup of satellite antennas, a transmission and receiving system, a new network management system (NMS), and a carrier monitoring system (CMS). The NMS makes routine work easier and simpler for on-duty staff, as equipment status, parameter monitoring and configuration, and remote control of the devices can be viewed and accomplished via a single interface. The CMS monitors the carrier spectrum status of satellite signals in real-time and ensures stable signal transmission and receiving.
“We are excited to have been able to work with Dialog TV on this important project,” said Kevin Sun, Sales Director for Hytera South Asia, “Our ability to seamlessly integrate our new equipment and software with Dialog TV’s existing systems has helped to ensure a stable and reliable service for their millions of customers across Sri Lanka.”
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