Business
CSE continues in negative mode; indices down

By Hiran H.Senewiratne
CSE activities were negative from last morning onwards but they did not recover even during the latter part of the day. However, Sri Lanka’s 2020 GDP growth was a little better than expected. This had a slightly positive effect on stocks, market analysts said.
Amid those developments, both indices moved downwards. All Share Price Index went down by 75.14 points and S and P SL20 declined by 30.64 points. The turnover stood at Rs. 853 million with a single crossing. The crossing was reported in JKH, which crossed 136,000 shares to the tune of Rs. 20.4 million.
In the retail market, five companies that mainly contributed to the turnover were; Expolanka Rs. 152.6 million (3.4 million shares traded), Sampath Bank Rs. 91 million (590,000 shares were traded), JKH Rs. 76.3 million (510,000 shares traded), Hayleys Rs. 61.6 million (1.1 million shares traded) and Browns Investments Rs. 48.3 million (9.5 million shares traded). During the day 28.9 million share volumes changed hands in 10198 transactions.
RIL Property Plc’s fully owned subsidiary Food Buzz Ltd., which runs Singapore based franchise entity “Bread Talk” outlets, closed down the latter from March 20 due to adverse market conditions resulting from the Easter Sunday attacks as well as the ongoing pandemic. Thus, Food Buzz Board of Directors had decided to temporarily suspend their business operations until a decision is taken going forward. At present there are 10 Bread Talk outlets in the country.
Last year, Food Buzz reported a loss of Rs. 59 million with a revenue of Rs. 413 million.
Sri Lanka’s rupee quoted at 199.50/201.50 levels to the US dollar in the one week forwards market while the bond yields remained unchanged, dealers said.
The rupee last closed in the one- week forward market at 199/201 to the US dollar on Tuesday and the spot was quoted at 200.75 levels. Rupee last hit close to 200 to the dollar in March 2020.
Business
Share investors worried over Wealth and Heritage tax

By Hiran H Senewiratne
CSE trading kicked off on a positive note yesterday but the momentum could not be sustained for long owing to investor worries that the government is planning domestic debt restructuring involving the imposition of a wealth and heritage tax on citizens, market sources said.
Amid those developments both indices moved downwards. The All -Share Price Index went down by 131 points and S and P SL-20 declined by 46.8 points. Turnover stood at Rs 3.4 billion with four crossings. Those crossings were reported in Agalawattte Plantations, which crossed 45.3 million shares to the tune of Rs 1.5 billion, its shares traded at Rs 35, CTC 420,000 shares crossed for Rs 269 million and its shares traded at Rs 640, Cargills 100,000 shares crossed to the tune of Rs 24.5 million; its shares traded at Rs 245 and Hayleys 300,000 shares crossed for Rs 24 million; its shares traded at Rs 80.
In the retail market top seven companies that mainly contributed to the turnover were, SLT Rs 234 million (two million shares traded), Hayleys RS 121 million (1.5 million shares traded), Lanka IOC Rs 106 million (115,000 shares traded), Softlogic Capital Rs 69 million (5.6 million shares traded), CTC Rs 65.3 million (101,000 shares traded), Sampath Bank RS 54.7 million (one million shares traded) and Commercial Bank RS 52.5 million (801,000 shares traded).During the day 164 million share volumes changed hands in 20000 transactions.
Business
Brandix ‘RightToRead’ initiative gains momentum enriching Sri Lanka students and transforming learning

Inspired by the challenge to provide Sri Lankan children with better access to learning materials and the transformative power to read and comprehend English, Brandix launched the ‘RightToRead’ project in 2018 in collaboration with the Ministry of Education.
Accordingly, Brandix introduced the ‘ReadToMe’ English learning tool, created by English Helper – India, to improve reading and comprehension skills of Sri Lankan students. Last Monday, Julie Chung, the US Ambassador to Sri Lanka, visited Susamayawardhana Vidyalaya in Borella, to observe progress of the project and experience how children and educators in Sri Lanka engage with educational technology.
Brandix Lanka Limited, Director, Ajit Johnpillai, said: “Education is the most powerful tool to enrich communities and futures, and Brandix is committed to build a strong foundation for transformational learning for students across Sri Lanka. The progress we have made with RiteToRead over the past two years is promising, and the potential for change in the education sector harnessing such digital technologies is immeasurable. Brandix will continue its commitment to deliver Inspired Solutions for the people of Sri Lanka.”
Business
Dialog TV Boosts Resilience and Capacity with Norsat Satellite Earth Station

Hytera, a leading global provider of professional communications technologies and solutions, is proud to announce the successful deployment of a new backup satellite station for Dialog TV, Sri Lanka’s No.1 satellite Pay TV service provider. The project was fulfilled in 2022 by Hytera and its subsidiary specialized in Satellite Communications (SatCom), Norsat International Inc. The new station enhances the resilience and capacity of Dialog TV’s existing system and ensures continuity of service in the event of damage due to natural disasters.
Dialog TV provides coverage over the entirety of Sri Lanka through the Intelsat 38 Ku-band satellite. As the business expanded, it opted for a backup solution to support its existing satellite station and to strengthen the network’s disaster tolerance.
Hytera and Norsat provided an end-to-end satellite earth station solution that includes the installation, integration, and setup of satellite antennas, a transmission and receiving system, a new network management system (NMS), and a carrier monitoring system (CMS). The NMS makes routine work easier and simpler for on-duty staff, as equipment status, parameter monitoring and configuration, and remote control of the devices can be viewed and accomplished via a single interface. The CMS monitors the carrier spectrum status of satellite signals in real-time and ensures stable signal transmission and receiving.
“We are excited to have been able to work with Dialog TV on this important project,” said Kevin Sun, Sales Director for Hytera South Asia, “Our ability to seamlessly integrate our new equipment and software with Dialog TV’s existing systems has helped to ensure a stable and reliable service for their millions of customers across Sri Lanka.”
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