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CSE indices decline, despite some companies’ positive quarterly results

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By Hiran H.Senewiratne 

CSE activities were slightly negative following the Central Bank announcement last Friday that the country’s foreign reserves have dropped to US 4.3 billion by January 31, despite the positive quarterly results of most companies in the recent past, stock market analysts said.

Amid those developments, both indices moved downwards yesterday. All Share Price Index down by 77.73 points down and S and P SL-20 went down by 13.16 points. However, five companies that are headed by business magnate Dammika Perera announced subdivision of their shares. Those companies are: Royal Ceramic, one share would be subdivided into ten shares and Lanka Wall Tiles, Lanka Tiles and Swisstec will subdivide one share into five shares.

Turnover stood at Rs. 6.01 billion with three crossings. Those crossings were reported in JKH, 1.13 million shares crossed  to the tune of Rs. 204.8 million, its shares traded at Rs. 160, Dialog 4.9 million shares crossed for Rs. 60.6 million, its shares traded at Rs. 12.40 and Sampath Bank 358,000 shares crossed for Rs. 60.2 million, its shares traded at Rs. 168.

In the   retail market, top five contributors to the turnover were; Royal Ceramic Rs. 1.03 billion (2.8 million shares traded), Vallibel One Rs. 908 million (12.4 million shares traded), JKH Rs. 560 million (3.5 million shares traded), LOLC Rs. 55.3 million (1.2 million shares traded) and Expolanka Rs. 403 million (8million shares traded).During the day, 134.5 million share volumes changed in 34335 transactions. 

Sri Lanka rupee was quoted weaker around 194.00/196.00 levels to the US dollar in the spot market on Monday, while bond yields remained unchanged, dealers said. The rupee last closed in one-week forward market at 194.50/195.50 levels on Friday. In the secondary market bond yields remained unchanged on dull market trade, dealers said.



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Dilmah voted Best Corporate Citizen in Ceylon Chamber Sustainability Awards 2020

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Sri Lankan family tea company Dilmah was honoured in Sri Lanka’s apex corporate sustainability awards, as one of two recipients of the Best Corporate Citizen Sustainability Award for Sri Lanka in 2020, a company news release said.

“Dilmah won in the category of Businesses with Less than Rs. 15 Billion Annual Turnover based on complex criteria linked to social, environmental and economic value, compliance, resilience, stakeholder management and crisis response. The Ceylon Chamber of Commerce award is judged annually – now in its 17th year – in an exhaustive process steered by a panel of eminent judges. The Best Corporate Citizen in the category of Businesses with greater than Rs. 15 Billion Annual Turnover was won by Ceylon Biscuits Ltd, also a Sri Lankan family business,” it said.

In addition to the coveted top award, Dilmah won category awards for Customer Relations, Environment Beyond the Business and was chosen as one of the Top 10 Corporate Citizens of Sri Lanka. The company stands out in its achievement as a family owned business with a singular focus on tea, among conglomerates and finance houses that form the top 10.

“Dilmah was formed by Founder, Merrill J. Fernando, on an unequivocal commitment to human service. The context was the colonial economic system that persisted in the tea industry in the 1950s, vestiges of which are evident even today in inadequate value addition to Sri Lanka’s high-quality tea and spices. The award scrutinised each finalists’ performance in areas including sustainability and business resilience in the wake of COVID-19, packaging sustainability, customer relations, commitment to environment and social development initiatives,” the release said.

Merrill J. Fernando, who recently celebrated his 70th year in tea is recognized as the face of fine Ceylon Tea in several countries where he started his business inviting tea drinkers to, ‘do try it!’ He commented on hearing of the accolade, ‘Mine was a simple wish – to present the finest tea with quality and integrity. What people call sustainability is a way of life for my sons and I. This award is a humbling accolade, because my journey in tea was marked more by criticism than appreciation.’

A minimum 15% of the company’s pre-tax profits directly benefit humanity through the work of the MJF Charitable Foundation and Dilmah Conservation, both formed to fulfill the company’s commitment to community and environment. The Dilmah philosophy has touched the lives of thousands through programmes for disabled children, empowerment initiatives for women, youth and communities. The company became carbon neutral in 2019 and plans to be carbon negative by 2030.

 

 

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Vision Care opens 60th branch at Medihelp Hospital in Homagama

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Vision Care, Sri Lanka’s premier eye care solutions provider, opened its 60th branch at Medihelp Hospital located at High-level road, Homagama. Present at the momentous opening were Chief Guest Dr. Prasad Pathirana – Eye Surgeon, Horana Base Hospital and Chandika Wijesiriwardana – Executive Director, Medihelp Hospitals, who graced the event.

“Vision Care has entered into a strategic partnership with Medihelp Hospitals to enhance the hospital’s eye care offering. Vision Care is focused on expanding its optical services to selected Medihelp Hospitals’ locations, thereby eventually covering all major districts in the country,” a news release issued in connection with the event said.

It said the new location offers a wide collection of affordable eyewear and specialized services such as primary eye examination, refraction, contact lens assessment, eye pressure diagnostics, hearing aids and other related services.

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Kangaroo Cabs adopt strict measures to safeguard customers against Covid-19

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Kangaroo Cabs (Pvt) Ltd., Sri Lanka’s leading cab service provider trusted by customers for the past 33 years, has adopted many stringent measures to ensure customer safety against Covid-19.

This includes providing hand sanitizers, touchless thermometers and face masks to all drivers registered under Kangaroo Cabs. They are advised strictly to follow health guidelines and pay attention to safeguard their valued customers. Customers’ body temperature is checked and hand sanitization provided before every trip.

The car is sanitized at the end of every journey to ensure the safety of the next customer and the drivers. Drivers are advised to wear face masks and follow health guidelines right throughout the journey. Precautions and safety measures are a top priority at Kangaroo Cabs.

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