By Hiran H.Senewiratne
A buoyant CSE in 2021 saw capital- raising increasing to a record Rs. 124 billion. The previous highest, in a 10-year time span was in 2018, amounting to Rs. 105 billion, CSE chairman Dumith Fernando said.
“Last year, of the capital raised, a record Rs. 84.4 billion was via debt and Rs. 39.4 billion in equity. The CSE also saw 28 new listings, including 14 debt IPOs and 13 equity IPOs, Fernando told the media while announcing the CSE’s achievements in 2021 and its proposed plans to be implemented in 2022. The event was held at Hotel Taj Samudra last week.
Fernando said that in 2021, the market had its best year, in terms of ASPI gaining 80.5 per cent and the S&P SL20 improving by 60.5 per cent. Market capitalization also reached a 10-year high of 36.7 per cent of GDP or Rs. 5.5 trillion from 19.7 per cent in 2020 or Rs. 2.96 trillion and 34.5 per cent in 2010 or Rs. 2.2 trillion.
“With proactive efforts by both the CSE and the Securities and Exchange Commission (SEC), especially digitization initiatives, the Colombo stock market saw active local investor participation, the CSE chairman said.
The active investor base rose to 63,000 as opposed to the target of 50,000, while the number of new accounts was 37,000, higher from 2020 but fell short of the target of 50,000, he added. Fernando also said the CSE more than doubled turnover to Rs. 4.9 billion per day.
Amid those developments, CSE trading activities were positive throughout the day and at certain times the index reached the 200 level. Most of the blue- chip counters witnessed fresh buying interest and prices in most of them appreciated during the day, stock market analysts said.
Both indices moved upwards. The All- Share Price Index went up by 125 points and S and P SL20 rose by 63.5 points. Turnover stood at Rs 7.1 billion with two crossings. Those crossings were reported in TJ Lanka, which crossed 2.5 million shares to the tune of Rs 139 million and its shares traded at Rs 52 and LOLC Finance 3.9 million shares crossed to the tune of Rs 111 million, its shares traded at Rs 28.
In the retail market top seven companies that mainly contributed to the turnover were, Vallibel One Rs 582 million (six million shares traded), Expolanka Holdings Rs 557 million (1.4 million shares traded), Softlogic Capital Rs 454 million (3.5 million shares traded), Browns Investments Rs 318 million (18.7 million shares traded), Chevron Lubricants Rs 263 million (2.1 million shares traded), Central Finance Rs 254 million (2.3 million shares traded) and Hayleys Rs 240 million (1.6 million shares traded). During the day 256 million share volumes changed hands in 61000 transactions.
Yesterday the US dollar was quoted at Rs 202.45, which was the Central Bank controlled price. However, in the open market the dollar rate exceeded the Rs 250 level, sources said.
Wing Commander (Retd.) D. Pradeep S. Kannangara elected president, Industrial Security Foundation
The Industrial Security Foundation (ISF) which acts as the sole organization in Sri Lanka to represent the Private Security industry having incorporated by an Act passed in the Parliament, Act No. 51 of 1999, elected Wing Commander (Retd.) Pradeep Kannangara as its President for the years 2022/2023 at its 30th annual General Meeting which was held at the PIM Auditorium in Borella. Wing Commander Pradeep Kannangara was appointed President while 14 other members were appointed to the Executive Committee, strengthening the ISF in order to drive and uplift the standards of the private security industry in Sri Lanka.
He has served on the ExCo consecutively since 2012 under four different presidents where he held the positions of Senior Vice President during the last three consecutive years. He has also been a committed member of the ISF and was awarded prestigious coveted FISF title due to his many valuable contributions to the organization and the Private Security Industry in Sri Lanka in 2012.
Wing Commander Kannangara’s journey into private security began after a successful career in the Sri Lanka Air Force for over 24 years where he served in many capacities finally being the Officer Commanding of the Special Air Borne Force. A recipient of the Ranasura Padakkama (RSP) Gallantry award for his bravery, sacrifices and service to the nation by the President of the Socialist Republic of Sri Lanka in 1990. He holds a Master’s in business management from the Edith Cowan University, Perth, Australia too and serves as a Board Director in AB Securitas (Private) Limited in Sri Lanka and AB Securitas Bangladesh Limited.
Kitchen & Bedroom reaffirms its partnership with Häfele Sri Lanka
Kitchen & Bedroom, a name synonymous in the interior designing and furniture sector in the country recently celebrated its long-standing partnership with Häfele Sri Lanka during the latter’s 12th year anniversary celebratory event, reaffirming its ambitious plans to further strengthen and explore the numerous opportunities available here.
Häfele Sri Lanka, part of Häfele India which is a wholly owned subsidiary of the Hafele Global network, is a technology partner for various projects and initiatives of Kitchen & Bedroom. Both the companies operate in the interior design space, sharing their cumulative knowledge and expertise to provide extensive and personalized solutions catering to domestic requirements.
‘We take great pride in our association with Häfele Sri Lanka having exchanged and collaborated on many projects both commercial and household. We share similar values such as providing high quality, sustainable, functional and customized solutions to our customers, and most importantly to guide them through every aspect and step of the project and how best we could bring out their desired design,’ said Dr. Sacquaff, Kitchen & Bedroom Group CEO.
DSI strengthens its islandwide presence with three new showrooms
Amid the prevailing economic hardships faced by Sri Lanka, Sri Lanka’s premier footwear brand DSI recently expanded its islandwide presence in the country with the opening of three new showrooms in Kahawatta, Akuressa, and Chavakachcheri, with the aim of offering greater access to its diversified product range to a wider customer base.
Gracing the special occasion, the showrooms were declared open by D. Samson & Sons (Pvt.) Ltd. Managing Director Thusitha Rajapaksa, in the presence of Director Asanka Rajapaksa, General Manager Pradeep Samarathunga, National Sales Manager – Retail Sales Naleen Weerawardana, invitees, and well-wishers.
Speaking at the opening ceremony, Thusitha Rajapaksa stated: “We are excited about expanding DSI wings to three new locations. Despite the ongoing economic conditions of the country, we took a call to take a proactive measure to expand our islandwide presence. While it has been a challenge, the commitment and hard work of our team has made it possible to serve our loyal customers better, and we are confident that we will be able to continue these efforts in the future as well.”
DSI is renowned for its well-trained staff who offer exceptional customer service. The three new DSI showrooms prioritize providing a unique service and customer support to make purchasing further convenient for the customer.
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