Business
‘CSE likely to prove attractive throughout 2022 as well’
By Hiran H.Senewiratne
A top CSE official said that 2021 has been a significant year for the CSE and its stakeholders in many respects, including capital- raising.
” Low interest rate and the high inflation level in the country had made the stock market attractive, which will likely continue as the trend this year as well, CSE’s Head of Marketing Niroshan Wijesundera told The Island Financial Review.
He said that investing in the stock market is the best option when the country has high inflation and low bank interest rates. Because the return on investments is very high with the booming of the stock market.
Amid those developments the market remained negative at the beginning dampening investor hopes of a turnaround due to profit- takings; however, it bounced back during the latter part of the day, dragging the All- Share Price Index to a positive note yesterday. The All- Share Price Index went up by 43.3 points and S and P SL20 declined by 21.7 points. Turnover, however, was a healthy at Rs. 7.7 billion involving 317 million shares with two crossings.
Those crossings were reported in LOLC Finance, which crossed 54.3 million shares to the tune of Rs 1.5 billion and its shares traded at Rs 28.10 and Dialog 4.5 million shares crossed for Rs 49.9 million, its shares traded at Rs 11.10.
In the retail market, the top seven companies that mainly contributed to the turnover were, LOLC Finance Rs 720 million (24.5 million shares traded), Browns Investments Rs 472 million (27.7 million shares traded), Expolanka Holdings Rs 452 million (1.2 million shares traded), Softlogic Holdings Rs 291 million (24.4 million shares traded), Softlogic Capital Rs 291 million (24.4 million shares traded), Softlogic Life Insurance Rs 264 million (2.6 million shares traded), Access Engineering Rs 205 million (5.9 million shares traded) and Richard Pieris Rs 194 million (seven million shares traded). During the day 317 million share volumes changed hands in 57000 transactions.
The Index witnessed massive volatility shortly into the market opening as it see-sawed from the red to green zone alternatively as investors gave away to a selling spree. However, the index moved on a gradual recovery but failed to uphold the momentum as it declined during the latter part of the session.
It is said high net worth and institutional investor participation was noted in LOLC Finance, JKH and Hayleys. Mixed interest was observed in Expolanka Holdings, Sunshine Holdings and Vallibel One, while retail interest was noted in Softlogic Capital and Softlogic Life Insurance, Browns Investments and Softlogic Capital.
It said the Diversified Financials sector was the top contributor to the market turnover due to Lanka LOLC Finance, while the sector index- gained. LOLC Finance contributed approximately 30 per cent to yesterday’s turnover.
Hela Clothing IPO which opened yesterday had been oversubscribed.
Yesterday, the US dollar rate was quoted at Rs 200.97, which was the Central Bank controlled price. However, with the heavy printing of Sri Lankan rupees, the inflation rate will move up exponentially. Currently, the actual dollar rate in the market would be Rs 250, market sources said.
MullenLowe Group Sri Lanka (MLG) announced the appointment of Sarah Nasry as Director & Chief Financial Officer, effective immediately.
In her new role, Sarah will lead both the Finance and Human Resources functions at MullenLowe Group Sri Lanka, playing a pivotal role in shaping the company’s financial strategy and people agenda. She holds a distinguished track record across multiple business disciplines, including Supply Chain, ICT, Administration, Corporate Communications, and CSR. Sarah brings a wealth of experience from her most recent position as General Manager – Finance & Business Partnering at Brandix, Sri Lanka’s leading apparel manufacturer.
Recognised for her strengths in business partnering, financial planning, and strategic decision-making, Sarah is also widely respected for nurturing inclusive, people-centric cultures that foster growth and high performance.
Thayalan Bartlett, Executive Chairman of MLG, commented, “Sarah’s appointment follows an extensive search for the right person to lead our finance division through the next phase of our journey. Her wide-ranging experience and strong leadership credentials give me every confidence that she will continue to strengthen the financial integrity and compliance standards we are known for, and the Board looks forward to working closely alongside her in this journey.”
Sarah also marks a significant milestone for the company, becoming the first female member of MLG’s Board of Directors. She will additionally serve on the MLG Executive Committee (ExCo), reinforcing the company’s commitment to diversity and inclusion at the leadership level.
Commenting on her appointment, Sarah said, “I am honoured and excited to join MullenLowe Group Sri Lanka and help steer the company into its next chapter. I look forward to collaborating with the talented team at MLG to drive financial strength, champion a people-first culture, and build on the company’s strong legacy of creativity and performance.”
Business
Sun Siyam Pasikudah Named Tripadvisor Travelers’ Choice Award Best of the Best Winner for 2025
Sun Siyam Pasikudah, a boutique luxury resort on Sri Lanka’s eastern coast, is thrilled to announce its recent win at the Tripadvisor’s Travelers’ Choice Awards Best of the Best for 2025, placing it among the top 10 percent of resorts worldwide. This accolade reflects the resort’s commitment to exceptional guest experiences, sustainable practices, and community engagement.
As the world’s largest travel guidance platform, Tripadvisor has unparalleled authority with travelers and diners. This award is based on genuine feedback from anyone in the community who has visited and left an authentic, first-hand review on Tripadvisor over a 12-month period, making it a valuable and trustworthy designation of travelers’ favorites.
Reopened in November 2023 after an extensive transformation, Sun Siyam Pasikudah offers 34 spacious one- and two-bedroom garden and beach pavilions, each featuring bold monochromatic interiors accented with golden tones. The redesign, led by Studio Sixty7, emphasizes a blend of contemporary elegance and local craftsmanship. The resort collaborated with local artisans, showcasing Sri Lanka’s rich talent and cultural heritage.
‘‘We are thrilled to being recognized on par with some of the world’s best resorts. Under just two years since our reopening, this achievement couldn’t be possible with the tremendous effort and support of our world-class team and our guests that keep coming for the unique experiences we offer. We are proud to contribute to Sri Lanka, a destination that is on every traveler’s go-to list,’ said its General Manager, Arshed Refai who has been with Sun Siyam Resorts for over a decade.
OTTO Bathware has received Sri Lanka Standards (SLS) certification from the Sri Lanka Standards Institution (SLSI). This certification confirms that OTTO’s sanitaryware meets the highest national standards for safety, durability, and performance. With over 30 years of experience, OTTO Bathware operates under the ADI Group (Art Decoration International Pvt. Ltd.- www.ottobathware.com) and runs a modern 435,000square feet manufacturing facility in Bandaragama. The company has grown to become; South-Asia’s largest decorative ceramic manufacturer/ exporter, Sri Lanka’s second-largest sanitaryware producer, supplying to over 500 retailers island-wide.
“We’re proud to offer sanitaryware that meets national safety and quality standards. We encourage all Sri Lankans to look beyond the price tag and choose products that are certified, tested, and built to last.” said its Chairman, S. H. B. Karunarathne.
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