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Extension of bond exchange date casts gloom on share market

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By Hiran H.Senewiratne

A degree of gloom enveloped the share market yesterday because stock market investors were anticipating an upward interest rate trend in the primary market. Besides, on the domestic debt restructuring front, the government had extended the bond exchange date beyond the scheduled date, market analysts said.

Under the IMF recommendations on the domestic debt restructuring exercise, the deadline for the bond exchange between the government and bondholder was August 28, but due to unavoidable circumstances it had been extended to September 11. This had negatively impacted yesterday’s stock market, analysts said.

Amid those developments both indices moved downwards. The All- Share Price Index went down by 37.38 points and S and P SL20 declined by 15. 9 points. Turnover stood at Rs 2.2 billion with six crossings. Those crossings were reported in JKH, which crossed 1.5 million shares to the tune of Rs 271 million; its shares traded at Rs 181, Asia Hotel Properties 4.2 million shares crossed for Rs 226 million and its shares traded at Rs 3.50, Citizens Development Business and Finance 129 million shares crossed for Rs 119 million; its shares traded at Rs 191, Lanka IOC 300,000 shares crossed for Rs 34.2 million; its shares fetched Rs 114, Melstacope 252,000 shares crossed to the tune of Rs 20.1 million; its shares sold at Rs 80 and DFCC 225,000 shares crossed for Rs 20 million; its shares fetched Rs 89.

In the retail market top five companies that mainly contributed to the turnover were; HNB Rs 155 million (886,000 shares traded), Asia Hotel and Properties Rs 99.8 million (1.8 million shares traded), Capital Alliance Rs 98.7 million (1.2 million shares traded), JKH Rs 96.3 million (530,000 shares traded) and Ceylon Grain Elevators Rs 86.7 million (515,000 shares traded). During the day 60.1 million share volumes changed hands in 17000 transactions.

Yesterday, the rupee opened at Rs 323.75/324.25 to the US dollar, after closing on Friday at Rs 324.00/25 to the US dollar, dealers said.

A bond maturing on 15.09.2027 was quoted at 14.45/55 percent after closing at 14.35/50 percent on Friday. A bond maturing on 01.05.2028 was quoted unchanged at 13.90/14.10.



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Dr RAD Jeewantha named most innovative dentist of the year

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Dr Jeewantha receiving the award

Dr. R. A. D. Jeewantha was honoured as the Most Innovative Dentist of the Year at the Business World International Awards, 2025. Organised by the Business World International Organisation, the award ceremony was held recently at the Mount Lavinia Hotel. A graduate of the Faculty of Dental Sciences, University of Peradeniya, Dr. Jeewantha has built a reputation as one of Sri Lanka’s most respected and forward-thinking dental surgeons. After gaining vital experience in Government hospitals, including the Teaching Hospital in Karapitiya, he also served at a leading private hospital before launching his own practice—Doctor J Premium Dental Care in Delkanda, Nugegoda.

His dental clinic is known for offering advanced, patient-focused treatments in restorative dentistry, cosmetic procedures, and implantology, using state-of-the-art technology. Dr. Jeewantha is especially skilled in dental implants, having completed the American Residency Course in Dental Implantology at Roseman University, accredited by the American Academy of Implant Dentistry. Dr. Jeewantha holds fellowships from the International College of Continuing Dental Education (FICCDE) and the Pierre Fauchard Academy (USA). His advanced skills include modern root canal treatments using Mineral Trioxide Aggregate (MTA) for both surgical and non-surgical procedures.

He has completed international trainings in digital dentistry, full-arch implantology techniques like All-on-Four and Zygomatic Systems, and smile design using digital 3D scans. He has participated in global dental events such as the Asia-Pacific Dental Congress and completed training at institutions including the University of Manchester and North Western State Medical University in Russia. His courses have covered everything from intraoral scanning to managing tooth wear. He has previously received many local and international awards. Dr. Jeewantha also serves the community as a Justice of the Peace for All Island.

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IIHS Foundation in Biological Studies offers fast-track route to global health careers

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The Foundation in Biological Studies at IIHS provides a unique alternative for students looking to fast-track their health careers after their Ordinary Level (O/L) exams. This programme offers a direct route to global health careers, bypassing traditional A/Ls. With over 1,000 students already advancing to universities in Australia, the UK, and Finland, IIHS has positioned the course as a reliable launchpad for careers in fields like medicine, nursing, biomedical sciences, and digital health. “This programme is a game-changer, offering a transformative journey into global healthcare education,” said IIHS CEO Dr. Kithsiri Edirisinghe.

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Seylan Bank Reports Strong Growth in Q1 2025 Financials

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Seylan Bank has recorded a Profit before Tax (PBT) of LKR 4,199 million in Q1 2025, marking a 13.36% growth compared to LKR 3,704 million in Q1 2024. Profit after Tax (PAT) rose by 20.29%, reaching LKR 2,761 million, up from LKR 2,295 million in the corresponding period of 2024.

Despite a decrease in net interest income by 8.37% due to market interest rate reductions, the bank’s net fee-based income grew by 13.83%, driven by fees from loans, cards, remittances, and other services. Total operating income for the quarter was LKR 11,258 million, a 3.83% decrease from the previous year, while operating expenses rose by 4.62%, largely due to increased personnel and other operating costs.

Impairment charges were significantly reduced by 83.17%, totaling LKR 262 million, reflecting the bank’s solid credit quality and proactive provisions. The bank’s impaired loan ratio improved to 1.98% from 2.10% in Q1 2024, with a provision cover ratio of 80.74%.

Seylan Bank’s total assets grew to LKR 785 billion, with loans and advances reaching LKR 469 billion and deposits totaling LKR 647 billion. The bank’s capital adequacy ratios remained strong, with the Common Equity Tier 1 Capital Ratio at 13.67% and Total Capital Ratio at 17.64%.

In addition to its financial performance, Seylan Bank continued its commitment to education, opening 16 more “Seylan Pahasara Libraries,” bringing the total to 281 libraries across the island.Fitch Ratings upgraded Seylan Bank’s National Long-Term Rating to ‘A+(lka)’ with a Stable Outlook in January 2025, further underscoring the bank’s financial stability and growth trajectory.

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