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Browns Investments enters into $ 1 billion MOU with CHEC

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By Hiran H.Senewiratne 

Browns Investments PLC announced that it has entered into a Memorandum of Understanding (MOU) with China Harbour Engineering Company to put up a major mixed development project in Port City, which runs into US$ one billion, stock market analysts said.

Under this joint venture project Browns Investments will be building  two residential apartments and one office complex. The total area that would be covered by the  project would be around 160,000 square meters. Initial investment would be US$ 450 million and the project will take some time for completion, analysts added.. 

Browns Investments contributed more than 48 percent to the turnover with its retail trading activities, stock market analysts said.  

 Further,  Sunshine Holdings PLC said it was acquiring Akbar Pharmaceuticals (Pvt) Ltd for a 25 percent stake in its own pharma unit, Sunshine Healthcare (Pvt) Ltd.

Amid those developments both CSE indices showed a downward trend. All Share Price Index went down by 31.53 points and S and P SL20 declined by 19.74 points  Turnover stood at Rs. 4.44 billion with five crossings. Those crossings were reported in Hatton Plantations, which crossed 29 million shares to the tune of Rs. 291 million, its shares traded at Rs. 10, Tokyo Cement 500,000 shares crossed for Rs. 29.6 million; its shares traded at Rs. 59.10, Hemas Holdings 296,000 shares crossed for Rs. 28.7 million, its share value was 97, Dialog two million shares crossed for Rs. 24.6 million, its shares being traded at Rs. 12.30 and Distilleries one million shares crossed for Rs. 21 million, its share price standing at Rs. 21. The market was negative because  139 companies’ share prices declined.

In the retail market, top five companies that contributed to the turnover were;  Browns Investments Rs. 2.15 billion (514 million shares traded), Tokyo Cement Rs. 205 million (2.9 million shares traded), Brown and Company Rs. 74.8 million ( 1.6 million shares traded), Tokyo Cement (Non Voting) Rs. 151.2 million (2.49 million shares traded) and Expolanka Rs. 118.7 million (4.7 million shares traded).During the day 610 million share volumes changed hands in 26629 transactions. 

The Sri Lankan rupee was quoted at 186.9 against the US dollar as of 11:02 GMT, 0.11% lower for the day compared to last session’s close of 186.7. The currency is down 3.09% so far this year. Equity market turnover was Rs. 3.44 billion, data showed.



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Hemas Consumer strengthens portfolio with L’Oréal partnership in Sri Lanka

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Hemas Consumer, the leading manufacturer and distributor in Sri Lanka’s beauty and personal care sector has strengthened its portfolio of offerings in a groundbreaking partnership with the world’s number one beauty company, L’Oréal. With this partnership Hemas Consumer obtains distributor rights to leverage its sales network and innovative marketing approaches in taking L’Oréal’s wide range of beauty and personal care brands across Sri Lanka.

Commenting on the new partnership, Sriyan de Silva Wijeyeratne, Managing Director, Hemas Consumer & Executive Director Hemas Group said, “We have spent over fifty years building successful and strong consumer brands in Sri Lanka. In keeping with our promise of consumer delight and trust, we are elated to partner a world-class cosmetics group like L’Oréal expanding our existing portfolio with the world’s most sought-after beauty and personal care products.

We are well equipped in our distribution process with island-wide sales channels to serve all parts of the country. I believe this partnership will revolutionize Sri Lanka’s beauty care industry and more prospects await as we continue to look ahead with L’Oréal.”

Sabrina Esufally, Director Business Development and Innovation at Hemas Consumer said, “This partnership will enable Sri Lankans to access the iconic brands and solutions created through years of research and innovation by L’Oréal. In the fast evolving and dynamic beauty industry, the combined strength of Hemas’s local heritage and penetration, and L’Oréal’s global technology and trust is the perfect recipe for consumer delight.”

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DFCC Bank supports industrial excellence by partnering CNCI Achiever Awards

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DFCC Bank PLC, stepped up once again for the 3rd consecutive year to partner with the Ceylon National Chamber of Industries (CNCI) as the principal sponsor and official banking partner of the CNCI Achiever Awards 2020.

The CNCI Achiever Awards was held for the 19th consecutive time to recognize the outstanding efforts of exceptional performers who have molded their respective industries with innovative solutions, while overcoming challenges and meeting the demands of their clientele. This year, the event was recently held under strict health guidelines at the Galadari Hotel in Colombo. 

Commenting on the sponsorship, Chief Executive Officer of DFCC Bank PLC Lakshman Silva stated, “We are pleased to have partnered with the Ceylon National Chamber of Industries (CNCI), as the Main Sponsor and Official Banking Partner of the 19th CNCI Achiever Awards 2020. DFCC is honored to partner in reconciling successful Sri Lankan businesses from various industrial sectors. Our partnership with this prestigious awards programme aligns seamlessly with our commitment to foster and reward industrial growth across the country and support local entrepreneurs in MSME & SME sectors.”

 

 

 

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Lanka SSL triumphs with National Gold and Top Ten Awards

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CNCI Achiever Awards 2020

Lanka Special Steel Limited (Lanka SSL), a trusted name in wires and a fully-owned subsidiary of E B Creasy & Company PLC, was recently awarded the coveted National Gold Award under the Extra Large category in the Manufacturing Sector at the Achiever Awards 2020 for Industrial Excellence.

The annual event organized by the Ceylon National Chamber of Industries (CNCI) was held in March 2021 at Colombo, and celebrated some of the leading industrialists in the country for their tremendous and continued efforts in uplifting and promoting quality standards, productivity, growth and strategy, R&D, employee welfare and others whilst contributing to both the society and economy at large.

‘We are immensely proud to have been recognized with two very prominent awards at this year’s CNCI Achiever Awards. It is a huge leap from just winning a Merit Award the last time around, and this incredible achievement certainly reflects our highly ambitious plans to strive for continued excellence. We would like to thank our valued customers and all stakeholders. We are grateful to our hardworking and committed staff at Lanka SSL who have made this possible,’ said Pravin De Silva, CEO of Lanka SSL.

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