Business
CSE records lowest turnover since Oct. 12, 2021; investors cautious
By Hiran H.Senewiratne
The CSE witnessed dull trading and recorded the lowest turnover after October 12, 2021 yesterday due to macro and micro economic uncertainties. Consequently, stock market investors adopted a-wait-and- see approach despite most companies recording positive quarterly results, especially blue- chip entities, stock market analysts said.
Some investors were worried about a possible fuel hike soon, which could have a direct impact on the cost of production, which, in turn could adversely affect the manufacturing sector. However, CSE trading activities, during the first half an hour, were positive but later due to profit- takings, especially in blue chip companies, the market turned negative. However, during the latter part of the day the market became positive, stock market analysts said.
On October 12, 2021 the market recorded the lowest turnover of Rs 2.05 billion and after 80 days the market recorded this year’s lowest turnover, which was Rs 2.25 billion. But both indices were marginally positive. The All- Share Price Index went up by 11.01 points and S and P SL20 rose by 14.13 points. Turnover stood at Rs 2.25 billion with a single crossing.
In the retail market top seven companies that mainly contributed to the turnover were; Expolanka Holdings, Rs 385 million (1.1 million shares traded), Vallibel One Rs 202 million (3.7 million shares traded), Sunshine Holdings Rs 136 million (2.5 million shares traded), Royal Ceramic Rs 122 million (1.7 million shares traded), Softlogic Life Insurance Rs 96.3 million (673,000 shares traded), Browns Investments Rs 90.9 million (5.3 million shares traded) and Vallibel One Rs 80.3 million (one million shares traded). During the day 72.9 million share volumes changed hands in 27000 transactions.
Yesterday the US dollar was quoted at Rs 203.23, which was the controlled price of the Central Bank. If the Central Bank allows a free float of the dollar, it would likely go up to the Rs 250 level, informed 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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