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Dip in health-related companies’ share prices

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By Hiran H.Senewiratne

A vaccine jointly developed by Pfizer and BioNTech was 90% effective in preventing COVID-19 infections in ongoing Phase 3 trials, the companies announced Monday.The statement was released as coronavirus cases soared across the world and European stock markets and oil prices jumped on the news. However, in Sri Lanka, several listed companies in the CSE saw a decline in  share prices.  They are into Covid 19 related businesses, especially Dipped Products and Expolanka.

Dipped Products is  into surgical gloves manufacturing and Expolanka is a  freight forwarding company that handles personal protective equipment for the pandemic, stock market analysts said. Hayleys, being the parent company of Dipped Products, had also showed some drop in their share prices during the day, analysts said.

Dipped Products share prices were down by 13 percent or Rs. 49.20. Its share price started trading at Rs. 375.60 and at the end of the day it shot down to Rs. 326.40 and Expolanka share prices started moving in the morning at Rs. 28.20 and at the end of the day it moved down to Rs. 25.60, which was a nine percent drop or a Rs. 2.60 share price drop. In this backdrop, Hayleys share prices witnessed a 12 percent or Rs. 55.50 drop, which started trading at Rs. 439.50 the previous day at at the end of yesterday it moved down to Rs. 326.40.

Amid those developments, the stock market showed mixed reactions. The All Share Price Index went down by 18.61 pts and the S and P SL20 was up by 36.24 pts. However, investor heavy company, Singer Sri Lanka  results were positive but not up to  expected levels in the September quarter, which dampened investor sentiment to a greater extent, stock brokers said. Therefore, its shares dropped by 12 percent or Rs. 7.20. Its shares started trading at Rs. 60.20 at the end of the day it was down by Rs. 53. 

However, the banking sector and JKH share prices slightly moved up and that prevented the All Share Price Index from further going down, market analysts said. Turnover stood at Rs. 3.6 billion and no crossings were recorded. Top five contributors to the turnover were, Expolanka Rs. one billion (37.6 million shares traded), JKH Rs. 240 million (1.7 million shares traded), Dipped Products Rs. 232 million (681,000 shares traded), Hayleys Rs. 195 million (484,000 shares traded) and Access Engineering Rs. 156.5 million (6.3 million shares traded). During the day, 129.76 million share volumes changed hands in 33233 transactions.   



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HNB partners Hayleys Agri for offers on Kubota, Agrotech, Farmtrac agriculture machinery

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(from left) Hayleys Agriculture Sales Manager Sunil Gamini, Hayleys Agriculture General Manager Sumith Herath, Hayleys Agriculture Director Lushan Abesekara, Hayleys Agriculture Director Amjad Rajap and Hayleys Agriculture Managing Director Jayanthi Dharmasena with HNB Deputy General Manager- Retail and SME Banking Sanjay Wijemanne, HNB Head of Micro Finance Vinodh Fernando, HNB Head of Personal Financial Services Kanchana Karunagama, HNB Head of Leasing Niluka Amarasinghe, HNB Assistant Manager- Leasing Roshan de Silva and HNB Business Development Executive- HNB Leasing Mahesh Ratnayake.
 
HNB PLC, renewed its partnership with leading agricultural machinery and equipment supplier Hayleys Agriculture, to offer customers convenient leasing solutions and attractive benefits for Kubota, Agrotech and Farmtrac range of machinery.
 
 The partnership which offers HNB customers special rates on tractors, transplanters and harvesters was inked at a ceremony held at Hayleys Head Office. HNB Deputy General Manager- Retail and SME Banking Sanjay Wijemanne and Hayleys Agriculture Managing Director Jayanthi Dharmasena graced the ceremony as guests of honor.
 
 “Last year was especially challenging for us all. However, we have continued to work tirelessly to provide our customers with the best possible deals available in the market. As such, we hope that entrepreneurs in the agricultural industry will make use of this offer to strengthen and expand their businesses,” HNB Head of Personal Financial Services Kanchana Karunagama said.

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Virtusa sponsors first virtual IEEE Sri Lanka robotics workshop

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The Arduino compatible ZUMO 32U4 robot interfaced using ROS during the workshop

Virtusa Corporation (NASDAQ GS: VRTU), a global provider of digital strategy, digital engineering, and IT services and solutions that help clients change and disrupt markets through innovation engineering, sponsored the first in a series of ‘Workshop’ branded events organized by IEEE Robotics and Automation Society (RAS) Sri Lanka Section Chapter in partnership with IEEE Sri Lanka Section.
 
 Anchored to an alliance that goes back a number of years, Virtusa and the IEEE RAS Sri Lanka Section Chapter moved away from the traditional ‘Meetup’ to host a full day virtual workshop, offering a unique opportunity for participants to engage with robotics and automation experts on a virtual platform. An introduction to Robot Operating System (ROS) – the workshop explored the fundamentals of ROS including robot theory, perception, navigation and manipulation, followed by hands-on sessions on ROS basics, as well as moving and manipulating robots online.
 
 “Moving away from the physical auditorium set-up to a virtual platform, we were extremely thrilled with the participation we saw during the full-day workshop,” commented Dr. Peshala Jayasekara, Senior Lecturer – Department of Electronic and Telecommunication Engineering, University of Moratuwa, lead presenter at the workshop. “Over 120 students, undergraduates, postgraduates, academia and industry stakeholders enthusiastically engaged and invested their day to successfully complete the workshop with an IEEE Technical Sponsorship, one of the highest recognitions in the world.”
 
The significance of robotics and automation largely depends on the broader collaboration between researchers and end-users of various domains – market potential that Virtusa continues to explore. Servicing multiple industries with intelligent engineering automation among a growing solutions portfolio, Virtusa promotes robotics research and application to generate greater impact by developing solutions to end-user driven challenges.
 
 “Robotics, particularly intelligent automation is rapidly changing the new norm of the IT industry,” Misnad Haque, Director – Technology at Virtusa elaborated. “From automated IT quality assurance to autonomous spaceflight, the opportunities to develop and nurture these bots are limitless. Events like this bring together like-minded humans – and perhaps robots too in the future –facilitating innovation through knowledge-sharing as well as experiential platforms that organizations like Virtusa can provide.”
 
 “Our aim is to host an IEEE Sri Lanka Robotics Workshop each year among other events, so that we can work together with expert resource personnel who are on par with global robotics trends and insights,” stated Prof. Chandima Pathirana, chairman of IEEE RAS Sri Lanka Chapter. “With Virtusa’s continued sponsorship and support, we are proud to say that this session delivered on the promised level of exposure and knowledge on robotics, and we look forward to inspiring the growing group of robotics enthusiasts in Sri Lanka.”
 

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Hyundai hands over ‘The Suites’ and ‘The Offices’ at Cinnamon Life to John Keells Properties

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Cinnamon Life Engineering Manager Yasindu Wijayawickrama, JKP COO Inoke Perera, HKN Senior Project Manager J.C. Wook, JKP Head of Sales Nadeem Shums, JKP CFO Ravi Wijewantha, JKP CMO Roshanie Jayasundera-Moraes, JKH Leisure Group President Suresh Rajendra, JKH chairman Krishan Balendra, HKN Project Director T.H Kim, JKH Property Group Sector Head Nayana Mawilmada, JKH Property Group Head of Asset Management Theekshana Jayarathna, HKN Senior Project Manager J.H Kim, HKN Resident Director Seo Seong-Soo
 
 
Cinnamon Life, John Keells Properties’ iconic mixed-development project, is ever closer to redefining Colombo’s skyline with the completion of its plush residential tower ‘The Suites’ at Cinnamon Life and the state-of-the-art office tower, ‘The Offices’ at Cinnamon Life.
 
 With its construction now complete, the 196-unit apartment building and the 30 storey office tower were ceremonially handed over to John Keells Holdings (JKH) chairman Krishan Balendra by T.H. Kim – Project Director of the contractor HKN (a joint venture between Hyundai, Keangnam and Nawaloka).
 
 Speaking at the event, Balendra said the completion of ‘The Suites’ and ‘The Offices’ at Cinnamon Life heralds a new beginning for the city of Colombo.
 
 Noting that the apartment buildings and the offices are a key feature in its mammoth integrated development project, the JKH chairman said, once completed, Cinnamon Life will rival anything that the South Asian region has to offer.
 
 “John Keells Holdings first conceptualized Cinnamon Life in 2010. Operating Cinnamon Grand and Cinnamon Lakeside, two large five star hotels, we knew that Colombo didn’t have the facilities to host large regional events. Cinnamon Life with its 800 roomed hotel, multiple banqueting and conferencing spaces and retail space is now positioned to host some of the biggest events in the region, particularly in South Asia,” he said.
 
 “It’s the largest private investment in Sri Lanka to date, and with its completion in the next year, we expect that Cinnamon Life will position Colombo as the leisure, entertainment and retail epicentre of the South Asian region,” he added.
 
 Balendra further added “These are challenging times, not just for us but for the world as a whole. With the right attitude, however, no challenge is insurmountable and as we, together with HKN, have ably demonstrated with the completion of these two towers.”

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