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Blue Ocean Group acquires 60 per cent stake in Kelsey Development

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By Hiran H.Senewiratne

Leading real estate company, Blue Ocean Group, yesterday acquired a 60 per cent stake in Kelsey Development PLC for Rs. 257 million, on Tuesday, stock market analysts said.

The stake amounting to 10.457 million shares was done at Rs. 24.60. The sellers were the Schaffter brothers, Praksah and Ramesh, who held 30% each.

With the acquisition of control, Kelsey will be a member of the Blue Ocean Group, a pre-eminent real estate conglomerate with a well-balanced portfolio, founded by top professional cum business leader Sivarajah Thumilan who is also the chairman and CEO.

Control of Kelsey was held by Janashakthi Ltd. and related parties. In September the parent, Janashakthi Ltd., sold its entire stake of 85.24 per cent or 14.85 million shares to Kelsey, to its ultimate shareholders Prakash and Ramesh with a view of restructuring the internal balance sheet of the Janashakthi Group. The transaction was done at Rs. 24.60 per share.

Yesterday, CSE witnessed panic- selling of shares mainly in blue chip counters due to worries on margin call in spite of overall positive sentiment following the Central Bank Governor Dr Nandalal Weerasinghe’s comments at a post budget panel discussion.

Dr Weerasinghe said that the current situation in the country is now getting better and manageable.

The turnover level was quite satisfactory; however, shares slipped over 2.5 per cent in mid-day trade dragged down by index heavy shares, market analysts said.

“Earnings reports of big counters are not so impressive this time and that’s bringing the market down,” market analysts said.

Both indices moved downwards. The All Share Price Index went down by 155.9 points and S and P SL20 went down by 62.2 points. Turnover stood at Rs 1.6 billion with a single crossing. The crossing took place in Central Finance, which crossed 2.2 million shares to the tune of Rs 140.8 million and its shares traded at Rs 64.

In the retail market top seven companies that mainly contributed to the turnover were, Expolanka Holdings Rs 452 million (3.4 million shares traded), Lanka IOC Rs 183 million (1.1 million shares traded), Browns Investments Rs 64.7 million (12.5 million shares traded), LOLC Holdings Rs 63.6 million (181,000 shares traded), ACL Cables Rs 54.3 million (779,000 shares traded), JKH Rs 47.2 million (336,000 shares traded) and LOLC Finance Rs 46.8 million (7.21 million shares traded). During the day 69.8 million share volumes changed hands in 20000 transactions.

It said high net worth and institutional investor participation was noted in Central Finance and Browns Investments. Mixed interest was observed in Sunshine Holdings and Sri Lanka Telecom, whilst retail interest was noted in LOLC Finance, First Capital Holdings and Prime Lands Residencies.

The Capital Goods sector was the top contributor to the market turnover (due to Hemas Holdings) while the sector index lost 0.71 per cent. The share price of Hemas Holdings recorded a gain of 50 cents to close at Rs. 56.

The Telecommunication Services sector was the second highest contributor to the market turnover (due to Sri Lanka Telecom and Dialog Axiata), while the sector index increased by 5.51 per cent. The share price of Sri Lanka Telecom gained Rs. 8.20 (12.83 per cent) to close at Rs. 72.10. The share price of Dialog Axiata appreciated by 10 cents to close at Rs. 8.50.

Yesterday, the Central Bank- announced US dollar rate buying rate was Rs 360.98 and the selling rate Rs 371.77.



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PM ‘Rings the Bell’ at CSE to champion financial literacy and investor education

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P.M. Dr.Harini Amarasuriya

As part of World Investor Week (WIW) 2026, the Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) joined stock exchanges around the world in ringing the market opening bell for financial literacy on 5 October 2026, under the patronage of Dr. Harini Amarasuriya, Prime Minister of the Democratic Socialist Republic of Sri Lanka.

World Investor Week is an annual global campaign led by the International Organization of Securities Commissions (IOSCO) to raise awareness of the importance of investor education and investor protection. The “Ring the Bell for Financial Literacy” initiative, pioneered by the World Federation of Exchanges (WFE), brings together stock exchanges and other stakeholders worldwide to promote greater financial literacy and encourage individuals to make informed financial decisions.

The ceremony also marked the 40th anniversary of the CSE and the joint launch by the SEC and the CSE of the Stock Market Game, an online stock market simulation based on the ATrad trading system.

The Stock Market Game enables participants to gain practical experience of how the stock market works, make investment decisions and construct portfolios of listed shares without using real money. The platform is accessible through the websites of the SEC and CSE and is expected to serve as an important practical tool for promoting financial education. It is envisaged that the Stock Market Game will also be used to conduct simulation competitions among universities and the 100 Capital Market Clubs established in schools across the country.

The ceremony also featured the commemorative issuance of a stamp and First Day Cover to mark the 40th anniversary of the CSE. Issued in collaboration with the Department of Posts and the Philatelic Bureau of Sri Lanka, the commemorative stamp and First Day Cover were presented to Prime Minister Dr. Harini Amarasuriya, by the SEC Chairman Snr. Prof. D.B.P.H. Dissabandara and Ray Abeywardena, Director CSE and Chairman of Central Depository Systems (CDS).

Welcoming the gathering, Rajeeva Bandaranaike, Chief Executive Officer of the CSE, highlighted the importance of obtaining reliable information when making investment decisions.

“We operate in a digital world where a vast amount of information and data is disseminated through social media. While some of this information is factual, some may be inaccurate or misleading. When investing in the stock market, it is essential to make informed and prudent investment decisions. Therefore, investors should obtain information and data from reliable and responsible sources and persons before making investment decisions.”

Addressing the gathering, SEC Chairman Snr. Prof. D.B.P.H. Dissabandara emphasised that the SEC’s role extends beyond regulation to facilitating the further development of the capital market.

“The SEC needs to determine how best to introduce the stock market to Generation Alpha, Generation Beta and generations beyond. When it comes to investors, we need to build confidence in the market, because people will invest only when they have confidence in the market.’’

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Rs. 5 million worth of prizes to be given at 8th edition of CSE Masterminds Quiz Competition

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The Colombo Stock Exchange (CSE) has announced that the eighth edition of the CSE Masterminds Quiz will be held on 9th October 2026, from 3.00 p.m. onwards, at the Main Ballroom, Shangri-La Colombo.

Recognised as Sri Lanka’s premier capital market quiz competition, CSE Masterminds brings together teams from the public and private sectors. Participants will be tested across international business, global markets, current affairs, the Sri Lankan economy and business, the Sri Lankan stock market, and sports and entertainment, before a concluding rapid-fire round.

This year the winning team can win up to Rs. 2,000,000, the runners-up up to Rs. 1,000,000, and the second runners-up Rs. 750,000. Sector awards will also be presented to the highest-performing team from each participating sector. Guest participants will also be able to compete in rounds of Audience questions, and will have the opportunity to participate a raffle draw for three free return tickets provided by Fits Aviation (Pvt) Ltd.

The evening will also include an exclusive after-party with live music provided by the band ‘Doctor’ featuring guest performer Umara Sinhawansa, fine food and beverages, providing an opportunity for networking and celebration. Every participant will receive a premium goodie bag made possible by the support of the event’s sponsorship partners. Collectively, the event will feature over Rs. 5 million worth of prizes, rewards, and giveaways, encompassing championship prizes, sector awards, audience engagement prizes, raffle draw offerings, and goodie bags.

Sponsorship partners include:

Platinum Sponsors: Hatton National Bank PLC and Bartleet Religare Stockbrokers (Pvt) Ltd.

Gold Sponsors: Ex-Pack Corrugated Cartons PLC, Asha Securities Ltd., and Lanka Securities (Pvt) Ltd.

Silver Sponsors: Barista Coffee Lanka (Pvt) Ltd., Capital Trust Holdings (Pvt) Ltd., LOLC Holdings PLC, Arpico Ataraxia Asset Management (Pvt) Ltd., IronOne Technologies (Pvt) Ltd., and LankaPay (Pvt) Ltd.

Co-Sponsors: Access Engineering PLC, Bank of Ceylon, Commercial Bank of Ceylon PLC, CryptoGen (Pvt) Ltd., Deloitte Lanka (Private) Limited, Dialog Finance PLC, Efutures (Pvt) Ltd., People’s Leasing & Finance PLC, Senfin Asset Management (Pvt) Ltd., and Softlogic Stockbrokers (Pvt) Ltd.

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NCCSL to conduct practical workshop on food labelling and advertising regulations in Sri Lanka

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The National Chamber of Commerce of Sri Lanka (NCCSL) is organizing a one-day practical workshop on “Food Labelling & Advertising Regulations in Sri Lanka” on Thursday, 8th October 2026 from 9.00 a.m. to 4.30 p.m. at the National Chamber of Commerce, Colombo 10. The workshop has been organised to provide a practical understanding of the latest regulatory requirements governing the food products labelling and advertising of food products in Sri Lanka, with particular attention to regulatory developments applicable in 2026, compliance requirements, and the potential legal and financial implications of non-compliance.

As food products increasingly compete not only with quality and price but also on packaging, labelling and promotional claims, businesses must ensure the information they communicate to consumers is accurate, transparent and consistent with applicable regulatory requirements. Understanding these requirements is therefore essential for businesses seeking to protect their brands, maintain consumer confidence, and minimize regulatory and legal risks.

The practical workshop will go beyond an overview of regulations and focus on how businesses can apply regulatory requirements in their day-to-day operations. Participants will be guided through key areas of food regulatory compliance, including the national food regulatory framework, recent food labelling regulations and key changes, mandatory approvals and prohibitions relating to food labelling, and the litigation process associated with regulatory violations. The programme will also cover several areas of growing importance to the food industry, including the EU EMPCO Directive, food colour coding regulations, regulations relating to food trans-fatty acids and the importance of compliance in the use of food additives. Practical exercises will further enable participants to apply their knowledge to real-world compliance situations and strengthen their ability to identify potential regulatory concerns.

For further information and registration, please contact the National Chamber of Commerce of Sri Lanka on 011 4741788 – Nethmi or Udula – 071 403 4775.

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