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Anticipated boom in tourism sees notable appreciation in hotel sector shares

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By Hiran H.Senewiratne

The stock market yesterday was active in respect of both retail and institutional investor participation, but it was mainly driven by the hotel sector, which saw a notable price appreciation as industry stakeholders anticipate a major boom in the travel and tourism sector in the coming months, stock market analysts said.

Amid those developments mixed reactions were witnessed in both indices. The All Share Price Index went up by 24.60 points while S and P SL20 declined by 9.65 points.

Turnover stood at Rs 3.7 billion with nine crossings. Those crossings were reported in HNB, which crossed 1.3 billion shares to the tune of Rs 305.4 million; its shares traded at Rs 234, JKH 7.1 million shares crossed for Rs 142 million; its shares traded at Rs 20, Keells Hotels 2.9 million shares crossed to the tune of Rs 50 million; its shares traded at Rs 19, Agalawatta Plantation 650,000 shares crossed for Rs 24.7 million and its shares sold at Rs 38, Lanka IOC 220,000 shares crossed to the tune of Rs 23.9 million and its shares sold at Rs 109, Digital Mobile Solutions 450,000 shares crossed for Rs 23.41 million and its shares traded at Rs 52, Hemas Holdings 260,000 shares crossed to the tune of Rs 21.8 million and its shares sold at Rs 84, Ambeon Capital 1.2 million shares crossed for Rs 21.6 million; its shares traded at Rs 18 and Sunshine Holdings 276,000 shares crossed for Rs 73.20 each.

In the retail market top seven companies that mainly contributed to the turnover were; Citrus Waskaduwa Rs 277 million (135 million shares traded), JKH Rs 149 million (7.4 million shares traded), Sampath Bank Rs 145 million (1.5 million shares traded), Ambeon Holdings Rs 144 million (7.8 million shares traded), Agalawatte Plantations Rs 113 million (2.9 million shares traded) and Digital Mobile Solutions Rs 109 million (2.1 million shares traded). During the day 227 million share volumes changed hands in 23000 transactions.

It is said that the banking sector was among the highest contributors to the turnover, especially because of HNB and Sampath Bank, while the manufacturing sector and plantations sector actively contributed to the market, market analysts said.

Yesterday, the rupee was trading stronger at R 290.55/65 to the US dollar from 290.70/80 to the US dollar on the previous day, dealers said, while bond yields were up.

A bond maturing on 15.12.2026 was quoted at 9.50/60 percent, up from 9.40/60 percent. A bond maturing on 15.12.2027 was quoted at 10.25/32 percent, up from 10.20/30 percent. A bond maturing on 15.10.2028 was quoted at 10.52/55 percent, up from 10.45/55 percent. A bond maturing on 15.09.2029 was quoted stable at 10.70/85 percent.



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DIMO Academy and HomeServe Germany to elevate Sri Lankan vocational education

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Representatives from DIMO and HomeServe Germany (L-R): Dilrukshi Kurukulasuriya - Executive Director/CHRO - DIMO, Gahanath Pandithage - Group Managing Director/CEO - DIMO, Ranjith Pandithage - Chairman - DIMO, Thomas Rebel - Chief Executive Officer - HomeServe Germany, Jobst Ferber - Consultant - HomeServe Germany/DIMO Academy & Vimukthi Randeny - Head of DIMO Academy

DIMO Academy, the vocational training arm of DIMO, recently announced a groundbreaking partnership with HomeServe Germany, a leading HVAC company offering installation, home repair, maintenance, and insurance services. This joint endeavor aims to strengthen vocational education in Sri Lanka by providing assured job placements in the thriving German building service industry for local youth with globally recognized qualifications.

Under this collaboration DIMO Academy will offer a world-class qualification based on strict German vocational standards, leading to a German Diploma in Plant Engineering accredited by the German Chamber of Industry and Commerce (AHK). Graduates will also receive German language training to ensure they can start their careers in Germany successfully. Upon the completion of this program, certified graduates will be recruited by HomeServe Germany, guaranteeing their future as skilled experts in the German building service industry.

The partnership meets the growing global demand for skilled building service technicians, especially in HVAC, driven by energy efficiency, sustainable construction, and urbanization, with Germany facing a shortage due to its high standards and focus on renewable technologies.

DIMO has also invested in an ultra-modern training facility in Peliyagoda, set to open in February 2025. This facility will be furnished with extensive technological resources, making sure students are trained to the highest international standards while also enhancing the local building services industry.

Dilrukshi Kurukulasuriya, Executive Director and Chief Human Resources Officer of DIMO and Head of the Group’s Education Arm said, “DIMO Academy’s Diplomas in Automobile Mechatronics and Plant Engineering, certified as category-A qualifications, in Germany make graduates eligible to work as technicians around the globe. DIMO Academy introduced the Diploma in Plant Engineering program to open diverse global career opportunities for young people in the building services industry. DIMO Academy offers a structured industrial training, with updated syllabus through a unique self-learning methodology and German-qualified trainers, in its world-class training facilities. It also upholds high standards through rigorous selection process, continuous assessments, and external audits by German and Sri Lankan bodies.

This alliance showcases the DIMO Academy’s commitment to strengthen partnerships with the global industry to foster employment opportunities and the exchange of technical knowledge for local youth while fuelling their dreams and aspirations. We are indeed privileged to partner with HomeServe Germany, a leading company in the global building services industry”, she added.

Thomas Rebel, CEO of HomeServe Germany f stated, “In Germany, there is a great need for technicians in the building services industry. Being a top provider of building services, we need highly qualified technicians to support our customers. Our HVAC businesses in Germany already have an apprenticeship rate of more than 15% today. Nevertheless, the demand for skilled workers is high and cannot be met solely through education in Germany. The only school outside of Germany to offer a category “A” recognized training program in building services following German vocational criteria is DIMO Academy. With more than 650 graduates working all over the world and 35 years of experience in German vocational training in Sri Lanka, DIMO Academy credentials are entirely accepted in Germany in compliance with German standards.”

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Lanka Hospitals launches affordable cardiac care Initiative for public sector workforce and Agrahara members

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From left: Dr. Lasantha Karunasekara, Deputy Chief Executive Officer/ Director – Medical Services, Deepthi Lokuarachchi - Group Chief Executive Officer and Dr. Upul Wickramarachchi, Resident Consultant Cardiologist - Lanka Hospitals

Lanka Hospitals has announced a groundbreaking initiative to provide affordable cardiac care to government servants, retired government servants and Agrahara insurance members. This program aims to alleviate the financial burden of heart surgeries and angiograms amidst challenging economic times, making high-quality cardiac care accessible to those who serve and have served the nation.

Under this special offer, the cost of a Heart Surgery, typically LKR 1,400,000, is now reduced to LKR 1,100,000, providing a saving of LKR 300,000. Angiograms are available at just LKR 50,000, and for patients undergoing heart surgery at Lanka Hospitals, the hospital charges for the angiogram will be completely waived, reducing the cost to only LKR 20,000. Additional benefits are extended exclusively to Agrahara members under this program.

Deepthi Lokuarachchi, Group Chief Executive Officer of Lanka Hospitals Group, emphasized the significance of the initiative: “Our latest offer on heart surgeries and angiograms underscores our commitment to easing the financial strain on public sector employees and retirees.

We are dedicated to ensuring that essential medical services, like advanced cardiac care, are both affordable and accessible without compromising on quality. Through this initiative, we continue to honor the invaluable contributions of Sri Lanka’s government workforce by combining compassionate care with state-of-the-art medical expertise.”

This initiative comes against the backdrop of an agreement with the National Insurance Trust Fund (NITF), which administers the Agrahara Insurance Scheme, further enhancing healthcare benefits for eligible patients.

It also reflects Lanka Hospital’s continued dedication to improving patient outcomes and supporting the health and well-being of Sri Lanka’s public sector workforce.

For more information about this special offer and the exclusive benefits for Agrahara members, contact Lanka Hospitals’ hotline at 0117 145 145.

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Sampath Bank introduces new heights of exclusivity in credit card landscape with Visa Infinite Metal credit card

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Ayodhya Iddawela Perera, Managing Director of Sampath Bank PLC, unveils Sri Lanka’s first Visa Infinite Metal Card. Harsha Amarasekera, Chairman of Sampath Bank PLC. Looks on.

Sampath Bank and Visa have unveiled the nation’s very first Visa Infinite Metal Credit Card, setting a new standard and marking a significant milestone in Sri Lankan banking. Launched at the iconic Cinnamon Life, Colombo’s City of Dreams, this elite card represents a step into unparalleled elegance, offering an array of exclusive privileges designed to meet the desires of discerning cardholders who seek a premium lifestyle experience and access to an elite world of benefits.

More than just a financial instrument, the Visa Infinite Metal Credit Card offers a gateway to a lifestyle that combines elevated service, distinct status, and sophisticated benefits for cardholders in Sri Lanka. Created specifically for those who value the extraordinary, the card delivers an array of global privileges from complimentary priority lounge access at airports to exclusive benefits across luxury retail, dining, and hospitality worldwide. Furthermore, cardholders enjoy the convenience of Visa’s 24/7 Concierge Service via WhatsApp, access to an exclusive travel concierge for seamless travel experiences, a competitive foreign currency markup, and the personalised support of a dedicated relationship officer for all their needs.

Tharaka Ranwala, Senior Deputy General Manager – Marketing, Customer Care, and Card Centre at Sampath Bank said, “With the Visa Infinite Metal Credit Card, we are introducing a new standard of exclusivity in Sri Lanka’s Credit Card landscape. This card is not just about providing superior financial services, it’s about redefining the customer experience by offering benefits that enhance their lifestyle, positioning Sampath Bank at the forefront of luxury banking.”

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