By Hiran H.Senewiratne
The CSE yesterday saw its main indices rebound on improved turnover. Both indices moved upwards accordingly. The All Share Price Index was up by 63.3 points and S and P SL20 up by 5.74 points.
Bukit Darah and Carsons Cumberbatch contributed more than 38 points to the All Share Price Index. Bukit Darah shares started trading at Rs. 250.20 but at the end of the day a share moved up to Rs. 312.50. This was more than a 25 percent or 62.30 increase in price while Carsons Cumberbatch started trading in the morning with a value of Rs. 210 per share and at the end of the day it moved up to Rs. 262, which was a Rs. 52 or 25 percent increase in its share price.
Turnover stood at Rs. 2.42 billion with two crossings. Those crossings were reported in JKH, which crossed Rs. 1.8 million shares to the tune Rs. 244.8 million; its share price was reported to be Rs. 136 and Hemas Holdings five million shares crossed for Rs. 357.8 million; its share price settling at Rs. 72.
In the retail market, top five companies that mainly contributed to the turnover were; Expolanka Rs. 243.8 million (22.1 million shares traded), Hemas Holdings Rs. 141.3 million (two million shares traded), Industrial Asphalts Rs. 94.1 million (314 million shares traded), Lanka IOC Rs. 76.2 million (2.9 million shares traded) and CT Holdings Rs. 57.2 million (369,000 shares traded). During the day 454 million share volumes changed hands in 21579 transactions. 454 million share volumes changed hands in 21579 transactions.
High net worth and institutional investor participation was noted in Expolanka Holdings and Commercial Bank. Mixed interest was observed in Hatton National Bank, IOC, Melstacorp and Sierra Cables. Furthermore, foreigners closed as net sellers mainly due to foreign selling in Commercial Bank and Alumex while retail interest was noted in many sectors.
BOI launches long term residence visa programme for investors
The Board of Investment (BOI) recently launched the five-year residence visa program dedicated to investors, stakeholders and BOI enterprises.Issuing long-term visas for investors has been the practice as per the international standards. On par with matching the international benchmark in respect of ease of doing business, the BOI has decided to launch this program to attract more investors to the country.
The long-term visa program, a long-felt need, primarily aims to facilitate the investors who wish to embark on a journey with the BOI.The BOI annually issues 7500-8000 visa recommendations for investors, employees and dependents.The BOI has granted visas for foreign nationals from 109 countries such as India, the United Kingdom, Japan, Korea, Malaysia and Pakistan which represent the most applicants based on last year’s statistics.
Addressing the gathering, Investment Promotion Minister Dhammika Perera said “The happiness on the faces of those investors present at the occasion, implies that the newly launched visa residence scheme is a success,”
“Before the implementation of this program, they had to go through a long documentation process every year to get these visas,” he pointed out.
“Having understood the prime need to provide a seamless and convenient service for investors, we have launched the new program albeit I have not officially assumed duties as the Investment Promotion Minister,” Perera highlighted.
BOI Director General Renuka M Weerakone stated “It is certainly a pleasure to see all our long-standing investors on this special day of launching the long-term residence visa program for investors.
“You all have been the contributors towards 65% of export earnings to Sri Lanka and have stood by us even in times of difficult periods that our country faced, which we wish to acknowledge with great gratitude,” she underscored.
Dialog Enterprise introduces Dialog SmartLife App for Three Sinha roller doors
The Three Sinha Group, a leading roller door company in Sri Lanka, has teamed up with Dialog Enterprise, the corporate ICT solutions arm of Dialog Axiata PLC, to launch a smart roller door controlled via the Dialog SmartLife App. This app enables users to control and access roller door services conveniently from their smartphones. Customers who use Three Sinha roller doors simply need to download the Dialog SmartLife App on Apple App Store and Google Play Store on their smartphone to operate the roller doors from anywhere.
“This is another important step in that process, and we are pleased to partner Dialog Enterprise to provide customers with a future-fit solution. I invite our customers to become a part of this experience”, said Manjula Ariyakumara, the Managing Director of Three Sinha Group of Companies. “As expounded by our brand ethos ‘The Future.Today’, Dialog is continuously seeking avenues of incorporating communication technology into many service areas and product offerings. In line with this vision, we are delighted to partner Three Sinha, a leading Roller Door company in Sri Lanka”, stated Navin Pieris, Group Chief Officer – Dialog Enterprise of Dialog Axiata PLC
People’s Bank commemorates its 61st anniversary
People’s Bank, held a modest ceremony to on 1st July to commemorate their 61st anniversary at the bank’s Head Office in Colombo 02. Chairman of the People’s Bank Sujeewa Rajapakse and CEO/General Manager Ranjith Kodituwakku addressed the staff at this event.
In addition, Religious programs were organized by the Buddhist Association, Hindu Association, Muslim Majlis and the Christians Guild of the People’s Bank to invoke blessings on the country, the people, the customers and the pioneering leaders who have contributed to establish the People’s Bank.
Accordingly, a Pirith chanting was held at the Head Office which was followed by an alms giving at Sambodhi Viharaya in Fort with the patronage of Chief Incumbent Most Ven. Professor Iththademaliye Indhasara Thero. Hindu pooja was conducted by Sri Nivasa Kurukkal, Bambalapitiya, Islamic Service conducted by Deshabandu Al Haj Faisal Hassan mowlavi at Dawatagaha Jumma mosque in Colombo and the holy mass was conducted by Rev. Father Anton Rohitha at St. Philip Mary’s church in Pettah.People’s Bank Corporate and Executive Management, bank staffs and retired employees were also present at the occasion.
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