Business

CDS accounts on the increase, crosses one million accounts

Published

3 months ago

2026/03/7

Central Depository Systems (Pvt) Ltd (CDS), a subsidiary of the Colombo Stock Exchange (CSE), has reached a milestone as total registered accounts surpassed the 1 million mark. This achievement coincides with the approach of the organization’s 35th anniversary in September 2026, marking three and a half decades of providing depository infrastructure for the Sri Lankan capital market.

Since its inception in 1991, the CDS has held the distinction of being the first depository in the South Asian region. In its core capacity as a depository, the institution is responsible for holding a wide array of securities including shares, debentures, corporate bonds, and units belonging to investors in electronic form.

The crossing of the one million account threshold also reflects the aggressive broad basing of the retail investor market over the past five years. This expansion is largely attributed to the comprehensive digitalization of the CSE, which has created accessibility for individuals across the country. Digital tools such as the CSE Mobile App and the “CDS e-Connect” portal have revolutionized how investors interact with the stock market, providing them with real time access to their holdings and a seamless interface for account management. The “CDS e-Connect”, originally launched in 2016 and revamped in 2021, has become a one stop shop for stakeholders, by offering services such as client profile management, real time balance and transaction viewing, eNomination facility, monthly statements and newly introduced dividend payment history viewing option. From 2016, by offering eStatements and SMS alert facilities CDS ensures transparency and security for the CDS accountholders. By decentralizing account openings and introducing online facilities in 2020, the CDS successfully brought the stock market to the fingertips of the general public, moving away from the traditional, paperwork heavy processes that once characterized the industry.

A critical pillar of this 35-year history was the 2011 launch of the full dematerialization drive. This initiative was designed to significantly reduce the movement of physical certificates, which were prone to loss, damage, and forgery. Today, the success of this drive is evident as the CDS holds 97 percent of listed equity and 100 percent of corporate debt in scripless form. This near total transition to electronic records has provided a secure and accessible service environment. The Central Control Unit plays a vital role, ensuring that all functions performed by the depository and its participants align with strict rules and regulatory guidelines. By identifying operational, financial, and market risks early, the CDS maintains the integrity of the ecosystem and fosters trust among both domestic and international investors.

Beyond its primary depository functions, the CDS has significantly expanded its influence through the Corporate Solutions Unit (CSU), established in 2017. The CSU was created to standardize and elevate the benchmarks for corporate action services in Sri Lanka and has since grown through the strategic acquisition of PW Corporate Registrar arm. This diversification allows the CDS to expand registrar services and manage corporate actions for both listed and unlisted companies, providing a holistic suite of services that includes the distribution of dividends, rights issues, and e-applications for Initial Public Offerings (IPOs). The digitization of issuer services has been a hallmark of the CSU’s work, introducing innovations such as eDividend payments, eWarrants, and eNotices. These advancements have streamlined the process for issuers while ensuring that shareholders receive their entitlements promptly and securely.

The strategic outlook for the CDS is now centred on the newly formed Research and Development Unit, which is essential to the organization’s vision for the future. This unit functions as a Project Management Office and is responsible for developing innovative services. By cultivating strategic alliances and international collaborations, the R&D unit ensures that the CDS remains a future forward institution capable of adapting to the evolving needs of the global financial sector.

As the CDS looks toward its 35th year of service, it remains focused on digital transformation, strategic partnerships that power progress, new service offerings and enhanced international relations. The integration of new technologies continues to ensure robust infrastructure for the next generation of market participants.

Head of CDS Nadeera Athukorale commenting on the vision of the CDS, remarked “By balancing its core depository duties with non-core registrar and consultancy services, the CDS has positioned itself for long term sustainability and industry leadership.”

The achievement of one million accounts serves as a testament to the resilience and adaptability of the Sri Lankan capital market infrastructure, demonstrating CDS’ ability to facilitate a growing digitized market while continuing to serve as the backbone of the nation’s investment landscape. (CSE)

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Business

Ceylon Chamber welcomes IMF review approval, urges continued reform momentum amid external pressures

Published

20 hours ago

2026/05/30

Thilina Walpola

The Ceylon Chamber of Commerce welcomes and commends the Government of Sri Lanka on the successful completion and approval of the 5th and 6th Reviews under the International Monetary Fund (IMF) Extended Fund Facility (EFF) programme. This milestone enables Sri Lanka to access approximately USD 695 million in financing support, reinforcing confidence in the country’s ongoing economic recovery and reform agenda.

At a time of heightened global uncertainty and external sector pressures arising from the conflict in the Middle East, the Chamber believes this approval sends a strong positive signal to markets, investors, and the private sector. Continued engagement with the IMF programme remains critical to preserving macroeconomic stability, restoring investor confidence, and strengthening Sri Lanka’s external resilience.

The Chamber notes that the IMF review underscores the importance of sustaining structural reforms, including improving the investment climate, enhancing competitiveness, and accelerating infrastructure and institutional reforms that support private sector-led growth.

At the onset of the Middle East crisis, The Ceylon Chamber of Commerce submitted recommendations to the Government addressing several immediate economic and energy-related risks. These recommendations remain highly relevant in managing emerging pressures on the exchange rate, energy costs, and overall external sector stability.

In line with the Ceylon Chamber’s earlier recommendations, the following priority measures are reiterated:

Strengthen and optimize the fuel QR system as a digital platform to improve efficiency and facilitate better targeted support mechanisms for priority groups such as public transport and school transport operators, while maintaining cost-reflective pricing principles.

Continue to ensure clear and consistent communication on the direction of economic policy to further reinforce confidence among businesses and investors, support orderly exchange rate expectations, reduce market uncertainty, and sustain overall macroeconomic stability.

The Ceylon Chamber also emphasises the importance of accelerating reforms that improve Sri Lanka’s competitiveness in trade, investment, tourism, logistics, and digitalisation. Advancing these reforms will be essential to sustain and improve macroeconomic stabilisation and resilience. The Ceylon Chamber has also urged its members to act responsibly during this critical period by supporting measures that preserve economic stability and safeguard Sri Lanka’s long-term interests.

The Ceylon Chamber of Commerce remains committed to actively engaging with policymakers and stakeholders in supporting progressive economic reforms, the successful completion of future IMF programme reviews, and Sri Lanka’s transition towards a resilient and competitive economy.

Business

Abans Finance launches maiden debenture issue listing on CSE

Published

20 hours ago

2026/05/30

Thilina Walpola

(Left – Right): Upul Gunasekara, Deputy CEO – Abans Finance PLC (Abans Finance); Danushka De Silva, Director – Abans Finance; Rajeeva Bandaranaike, CEO – Colombo Stock Exchange (CSE); K.J.C. Perera, Chairman – Abans Finance; Thulci Aluwihare, Director – Abans Finance; Nirosh Madawala, CEO of Abans Finance; Ms. Kaushini Laksumanage, Deputy CEO – NDB Investment Bank Ltd; Ms. Nilupa Perera, Chief Regulatory Officer – CSE; Prashad Samantha, Chief Financial Officer – Abans Finance.

Abans Finance PLC (Abans Finance) recently marked the official listing of its maiden 13,384,000 debentures on the Colombo Stock Exchange (CSE) with a bell ringing and market opening ceremony held at the CSE trading floor.

The offer for subscription for the initial issue of ten million (10,000,000) listed, rated, senior, unsecured, redeemable five-year (2026/2031) debentures of LKR 100/- each, was rapidly oversubscribed, having received subscriptions for 13,384,000 debentures for a value of LKR, 1,338,400,000/-, reflecting strong investor confidence in Abans Finance’s strengths and the debt market.

Abans Finance is a licensed non-banking financial institution and subsidiary of the Abans Group and currently operates with nine branches, nine customer centres and four kiosks in addition to the head office, leveraging on the island wide presence of Abans Group to reach customers across the island. Abans Finance services include finance leasing, hire purchase, mortgage loans, personal loans, real estate development and acceptance of time and savings deposits. Founded in 2006, the Abans Finance was also listed on the CSE in 2011 and enjoys a Fitch Credit Rating of A – (lka) Stable Outlook.

Through its first debenture, which carries an “A-” (lka) rating from Fitch Ratings Lanka Limited and was managed by NDB Investment Bank Ltd, Abans Finance aims to expand its asset base, strengthen loan portfolios, grow its presence by leveraging the Abans Group financial ecosystem to drive digital transformation and deliver integrated solutions.

K.J.C. Perera, Chairman of Abans Finance PLC and keynote speaker at the ceremony, remarked upon the company’s debenture issue, commenting “This milestone underscores strong investor confidence in Abans Finance PLC and strengthens our capital base as we advance our strategy for sustainable growth and innovation.”

Delivering his welcome address at the event Rajeeva Bandaranaike, CEO of CSE, remarked upon the debenture listing, stating: “Today’s listing of the debt issue by Abans Finance PLC reflects a broader engagement by companies to use the capital market for their funding requirements. More recently we have seen a fair growth in the primary issuances of debt. In 2024 approximately LKR 95 Bn was from debt. In 2025, LKR 113 Bn was raised through debt – and in 2026 approximately LKR 60 bn was raised through debt.”

2025 saw 22 debt listings including 3 new companies listing on the exchange by way of debt initial public offerings (IPOs) including several firsts in the country from GSS+ debt instruments (Green, Social, Sustainability linked), Shariah compliant debt instruments and High Yield Bonds, with access to investors and brokers facilitated by a fully digitized CSE platform, which can be accessed through CSE’s website and mobile app.

Business

Sun Siyam Pasikudah brings community together for coastal clean-up

Published

20 hours ago

2026/05/30

Thilina Walpola

Sun Siyam Pasikudah, Sri Lanka’s five-star boutique retreat and part of the Privé Collection within Sun Siyam, reinforced its commitment to community and conservation with a beach cleanup along Pasikudah Bay on 08th May 2026. Held under the group-wide Sun Siyam Cares umbrella, guided by “Caring for our People, Nature and Culture”, the morning brought together school students, hotel staff, and in-house guests for hands-on environmental action.

Unlike typical cleanup drives, this initiative placed education at its heart. Students from a local school joined guided sessions on coastal ecosystems, the impact of marine litter on biodiversity, and the role every individual plays in protecting Sri Lanka’s coastline, giving young people from the surrounding community a firsthand understanding of why this bay matters, ecologically, culturally, and economically.

Arshed Refai, General Manager of Sun Siyam Pasikudah, said: “What makes this cleanup different is who we did it with. When a child understands why this bay is worth caring for, its ecology, its beauty, what it means to the families who live here, that knowledge stays with them. That is the most sustainable investment we can make.”

Pasikudah Bay’s shallow, crystal-clear turquoise waters and the Eastern Province’s rich marine and cultural heritage, from centuries-old mosques and kovils to the vibrancy of Kattankudy, make it a coastline worth protecting. Participants spread across the shoreline collecting and sorting waste in line with the resort’s zero-waste management principles, while guests noted the activity deepened their connection to the destination beyond a typical resort experience.

Sun Siyam Pasikudah holds the Travelife Gold Certification across 147 criteria spanning energy, water, wildlife, waste, and community welfare. The resort grows over 38 varieties of fruits, vegetables, and herbs on its organic farm, operates solar-powered installations, has eliminated single-use plastics entirely, and sources locally wherever possible. The Sun Siyam Cares Fund supports CarePhant, backing the care of Kalo, a young elephant at the Elephant Transit Home in Udawalawe, ahead of his return to the wild in 2029.

As part of Sun Siyam Resorts, named Most Influential Sustainable Hotel Group of the Year at the 2025 GO TRAVEL Awards, initiatives like this reflect a sustained, year-round commitment to ensuring tourism on the East Coast is a force for renewal, not depletion. For reservations, visit www.sunsiyam.com/sun-siyam-pasikudah or call 065 205 5555.