Business
Flaws in debt restructuring slow down share trading
By Hiran H.Senewiratne
The stock market got off to a sluggish start yesterday because both local and foreign investors are worrying over certain flaws in the external debt restructuring exercise, stock market analysts said.
Due to deeply flawed operational frameworks, built on statistics rejecting classical economic principles and laws of nature, currencies of IMF dependent countries tend to depreciate permanently; nominal interest rates and inflation tend to be high, critics said.
Amid those developments both indices indicated mixed reactions. The All Share Price Index went up by 12.19 points while S and P SL20 rose by 2.7 points. Turnover stood at Rs 1.5 billion with six crossings. Those crossings were reported in Windforce, which crossed 22.5 million shares to the tune of Rs 439 million; its shares traded at Rs 19.50, Central Finance 1.9 million shares crossed for Rs 220 million and its shares traded at Rs 115, Hayleys 500,000 shares crossed for Rs 53.8 million; it shares sold at Rs 107.50, JKH 200,000 shares crossed for Rs 41.15 million; its shares traded at Rs 205.75, Sanasa Development Bank 1 million shares crossed to the tune of Rs 32 million; its shares sold at Rs 32 and HNB 100,000 shares crossed for Rs 20.6 million; its shares fetched Rs 206.
In the retail market top seven companies that mainly contributed to the turnover were; Hayleys Rs 167 million (1.6 million shares traded), JKH Rs 60 million (289,000 shares traded), Marawila Resorts Rs 50 million (11.5 million shares traded), Hemas Holdings Rs 44.7 million (525,000 shares traded), Sampath Bank Rs 34 million (428,000 shares traded), HNB (Non- Voting) Rs 30.8 million (189,000 shares traded) and Beruwala Resort Rs 30.6 million (10.9 million shares traded). During the day 75.2 million share volumes changed hands in 8488 transactions.
Yesterday the rupee was quoted at Rs 305.25/50 to the US dollar in early morning trade, steady from Rs 305.25/35 to the US dollar at the previous day’s close, while bonds were quoted wide, dealers said.
Bond market activity was somewhat muted after a rise in Treasury bill yields last week, dealers said.
Interest rates fell after a spike in un-sterilized liquidity from dollar purchases (strong side pegging), but the rupee comes under pressure due to lack of a complementary exchange rate policy to back the strong side pegging when liquidity is used up, analysts have said.
Excess liquidity is now down but the Central Bank is injecting some money overnight. Seven-day term money was injected below the overnight rate. At the moment private credit is still muted. A bond maturing on 01.06.2026 was quoted at 10.60/11.00 percent, indicative Wednesday, down from yesterday’s close of 10.75/11.05 percent. A bond maturing on 15.12.2026 was not quoted in morning trade. The bond closed at 10.65/11.05 percent Tuesday. A bond maturing on 15.10.2027 quoted at 10.70/11.10, marginally higher from 10.65/11.10 percent. A bond maturing on 15.03.2028 quoted at 11.25/50, marginally higher from 11.20/11.50 percent. A bond maturing on 15.09.2029 was quoted at 12.10/20, a little wider from 12.10/15 percent. A bond maturing on 01.12.2031 was quoted at 12.10/20, unchanged from 12.10/20 percent.
Company stresses ambition to surpass this milestone
Eyes markets across Africa and beyond
In a groundbreaking achievement for Sri Lanka’s IT and electronics manufacturing industry, EWIS Colombo Ltd, the country’s first and only local computer manufacturer, has successfully exported its first consignment of locally built laptops to Zimbabwe.
This landmark event not only positions Sri Lanka as an emerging force in global IT hardware manufacturing but also highlights EWIS’s commitment to innovation, quality, and excellence on the international stage.
This historic shipment, dispatched from EWIS’s state-of-the-art manufacturing facility in Samajasewapura, Sooriyawewa, underscores the company’s dedication to delivering world-class technology solutions. With over 11 years of expertise in manufacturing and assembly, EWIS Colombo Ltd has played a pivotal role in driving Sri Lanka’s ICT sector forward. As a Board of Investment (BOI) Section 17-approved company, EWIS has established the country’s first and only local computer manufacturing plant, paving the way for the nation’s growth in high-tech exports.
Speaking on this momentous achievement, Sanjeewa Wickramanayake, Chairman of EWIS Colombo Ltd, said: “This milestone is not just for EWIS but for Sri Lanka as a whole. It proves that our country has the talent, capability, and ambition to manufacture and export high-quality IT products, competing confidently on the global stage. As we continue expanding beyond local markets, we take immense pride in showcasing Sri Lanka’s excellence in technology and innovation to the world. EWIS’s commitment to world-class quality is reinforced by its ISO 9001:2015, ISO 14001:2015, CE, FCC, and RoHS certifications, ensuring compliance with international quality, safety, and environmental standards.”
Speaking further he said:
“For nearly four decades, EWIS has been a trailblazer in Sri Lanka’s ICT sector, delivering cutting-edge solutions for education, businesses, and government enterprises.
With over 11 years of local manufacturing and assembly expertise, EWIS has continuously refined its capabilities to produce high-quality, internationally competitive IT hardware. The successful export to Zimbabwe represents a bold step toward expanding EWIS’s global footprint, reinforcing Sri Lanka’s potential as a world-class technology and manufacturing hub.”
Dialog Television, Sri Lanka’s #1 Pay-TV service provider, has partnered with Emerging Media to enhance the convenience and effectiveness of advertising. This collaboration brings together Dialog Television’s world-class entertainment, featuring 18 advertisable channels across genres such as movies, edutainment, kids, music, sports, and local content, with Emerging Media’s expertise in digital advertising and targeted marketing. This synergy creates a seamless platform for businesses to maximize brand exposure across multiple channels.
With a reach of over 1.7 million households, Dialog Television provides advertisers with a powerful avenue to engage diverse audiences. Brands can place advertisements on leading international and local channels such as &flix, Star Movies, TLC, Animal Planet, AXN, Zee Café, Comedy Central, Star Plus, A+, Nickelodeon, Star Vijay, Zee Tamil, Star Sports, Ten Cricket, Sony SIX, ThePapare TV, Channel One, Citi Hitz and Channel C. Through this partnership, Emerging Media will facilitate advertising sales, allowing businesses to target specific viewer segments while simplifying the media buying process with a single point of contact.
Commenting on the partnership, Lim Li San, Group Chief Operating Officer at Dialog Axiata PLC, stated, “As Sri Lanka’s premier Pay-TV service provider, we serve more than 1.7 million households with over 6 million pairs of captive eyeballs across Sri Lanka. Today, we are excited to embark on this partnership with Emerging Media to avail our Dialog Television platform and brand strength to provide quality advertisement exposure and customer engagement to local businesses across Sri Lanka.”
The International Institute of Health Sciences (IIHS), a pioneer in healthcare training for over 23 years, has partnered with the University of Surrey, UK, to revolutionise healthcare education in Sri Lanka and the broader South Asian region. This will create a world-class academic pathway for aspiring nursing and healthcare professionals, as well as young individuals seeking careers in the field. Under this agreement, IIHS and the University of Surrey will introduce a series of academic initiatives to enhance healthcare training and accessibility.
These include delivering internationally recognised nursing programmes that allow Sri Lankan and regional students to earn globally competitive qualifications in Sri Lanka.
Commenting on the move, Dr. Kithsiri Edirisinghe, CEO & Dean of Undergraduate Studies at IIHS, said: “This MOU marks a significant step in our mission to deliver world-class healthcare education to Sri Lanka and the region. IIHS remains dedicated to shaping the future of healthcare professionals and fostering global healthcare leadership.” Dr. Shelini Surendran, Associate Dean (International) at the University of Surrey, emphasised: “Sri Lanka is establishing itself as a regional education hub, and this partnership ensures students across Asia can access top-tier UK healthcare education at IIHS. By bridging academic excellence with accessibility, we provide students with a clear pathway to their professional goals.”
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