Business
India’s Mazagon Dock Shipbuilders makes mandatory offer to buy remaining shares of Colombo Dockyard
India’s Mazagon Dock Shipbuilders Limited has made a mandatory offer to buy the remaining shares of Colombo Dockyard at Rs 40 each, following a 41.73 percent stake acquisition last month.The mandatory offer targets 58.27 percent of the company.
At the recent rights issue, Mazagon Dock Shipbuilders bought 164,916,229 ordinary shares of Colombo Dockyard from the unsubscribed rights entitlement of previous stakeholder Onomichi Dockyard Company.
Mazagon paid Rs 40 per share amounting to a total Rs 6,596,649,160 .
Both indices moved upwards. The All Share Price Index went up by 67.5 points, while the S and P SL20 rose by 23.57 points. Turnover stood at Rs 9.1 billion with 16 crossings.
Top seven crossings were reported as follows: Commercial Bank 9.7 million shares crossed to the tune of Rs 1.2 billion and its shares traded at Rs 224.50, TJ Lanka 14.3 million shares crossed to the tune of Rs 549.7 million; its shares sold at Rs 38.50, Renuka Hotels one million shares crossed to the tune of Rs 250 million; its shares sold at Rs 250, Melstacorp one million shares crossed to the tune of Rs 178 million; its shares fetched Rs 179, Sampath Bank 930,000 shares crossed for Rs 145 million and its shares traded at Rs 150, Sierra Cables two million shares crossed for Rs 74 million; its shares sold at Rs 37 and Lanka Milk Food one million shares crossed for Rs 71 million; its shares fetched Rs 71.
In the retail market companies that mainly contributed to the turnover were; Colombo Dockyard Rs 514 million (3.3 million shares traded), Ceylon Land Equity Rs 349 million (15.6 million shares traded), Sierra Cables Rs 339 million (1.4 million shares traded), Commercial Bank Rs 307 million (1.4 million shares traded), TJ Lanka Rs 247 million (6.5 million shares traded), Luminex Rs 232 million (19.6 million shares traded) and Renuka Foods Rs 180 million (11 million shares traded). During the day 311 million share volumes changed hands in 50661 transactions.
It is said that the market showed mixed reactions. The banking sector actively participated, especially Commercial Bank. The manufacturing sector also performed well.
Yesterday the rupee was quoted at Rs 309.30/40 to the US dollar in the spot market, stronger from Rs 309.45/50 the previous day, while bond yields continued to edge lower on the the mid- to long end of the yield curve, dealers said.
A bond maturing on 15.06.2029 was quoted at 9.45/50 percent.
A bond maturing on 15.09.2029 was quoted at 9.50/55 percent.
A bond maturing on 15.12.2029 was quoted at 9.52/58 percent, down from 9.55/60 percent.
A bond maturing on 01.07.2030 was quoted at 9.68/71 percent.
A bond maturing on 01.10.2032 was quoted at 10.21/24 percent, down from 10.23/25 percent.
A bond maturing on 01.06.2033 was quoted at 10.55/60 percent, down from 10.57/60 percent.
A bond maturing on 15.06.2034 was quoted at 10.77/80 percent.
A bond maturing on 15.06.2035 was quoted at 10.80/86 percent, down from 10.82/87 percent
By Hiran H Senewiratne
Business
SriLankan Airlines Enhances Australia Connectivity with 14 Weekly Flights
11 March 2026; Colombo – SriLankan Airlines is set to increase its weekly service between Colombo and Melbourne to 10 flights, effective from 2 August 2026, with the addition of three more scheduled flights in response to growing demand and evolving market dynamics. The expansion reinforces the airline’s commitment to strengthening its footprint in Australia, recently identified as one of the fastest-growing inbound tourism markets to Sri Lanka, driven by leisure travel and a rising volume of visits by family and friends.
The newly added flights will operate every Tuesday, Thursday and Sunday, departing Colombo as UL608 at 14:10 hrs and arriving in Melbourne at 04:30 hrs the following day. The return service, UL609, will depart Melbourne every Wednesday, Friday and Monday at 06:00 hrs, arriving in Colombo at 12:15 hrs the same day, offering convenient onward connections across the airline’s network. The schedule is designed to maximise time spent in Sri Lanka for leisure travellers while enhancing connectivity for passengers travelling onwards to India via Colombo.
In addition to the new frequencies, the airline will continue operating its daily service, UL604, departing Colombo at 00:20 hrs and arriving in Melbourne at 14:40 hrs, with the return service UL605 departing Melbourne at 16:10 hrs and arriving in Colombo at 22:25 hrs. These services provide seamless connectivity to key destinations across India and beyond.
This addition of flights will provide Sri Lankans with better options when choosing flights between the two countries and enable them to plan their travel more conveniently. The increased frequency will be especially beneficial for the Sri Lankan diaspora living in Australia, providing greater flexibility to visit family and friends while maintaining strong connections with their homeland.
Additionally, Sri Lankan students studying in Australia will find these enhanced services advantageous, as the expanded schedule accommodates academic calendars and holiday breaks, making it easier to travel home and return to their studies. Overall, improved connectivity supports both the expatriate community and students by offering more convenient and accessible travel options tailored to their needs.
The increased frequencies will further strengthen Colombo’s role as a regional hub, enabling Indian travellers to seamlessly connect via Sri Lanka to Melbourne, with convenient schedules and efficient onward connections. For more information and bookings, visit www.srilankan.com or follow us on our social media.
Business
Nestlé Lanka marks 120 years of nourishing Sri Lankan families and livelihoods
Nestlé Lanka Limited this year marks 120 years of operations in Sri Lanka, highlighting a century-long presence that has extended beyond food manufacturing to supporting farmers, communities, youth employment and environmental sustainability.
Established in 1906, the company has grown into one of Sri Lanka’s leading food and beverage manufacturers, today producing more than 90% of the products it sells locally. Over the decades, Nestlé Lanka has built a strong domestic footprint through local sourcing, long-term farmer partnerships and continued investment in manufacturing.
Through widely recognised brands such as Nestomalt, Milo and Maggi, the company has become a familiar presence in Sri Lankan households, offering products designed to meet local nutritional needs. Many of its products are fortified with micronutrients aimed at improving dietary intake, while brands such as Milo and Nestomalt have also supported youth sports and active lifestyles in the country.

Nestlé Lanka’s engagement with local agriculture has also played a role in strengthening rural livelihoods. The company works closely with dairy and coconut farmers, providing technical assistance, skills development and reliable market access as part of its responsible sourcing efforts.
The company has also expanded programmes aimed at improving youth employability. Through the “Nestlé Needs YOUth” initiative, young Sri Lankans are provided with access to training, learning and career opportunities. Partnerships with organisations such as BConnected have also helped promote inclusive employment opportunities for people with disabilities.
Sustainability has become an increasingly central focus of the company’s operations. Nestlé Lanka’s manufacturing facility in Kurunegala operates on 100% renewable electricity, while a biomass boiler commissioned in 2024 has helped reduce carbon emissions from manufacturing. The company aims to achieve net-zero carbon emissions by 2050.
Efforts to reduce environmental impact have also extended to packaging. Nestlé Lanka pioneered the shift from plastic to paper straws in aseptic beverage cartons in 2019 and supported the establishment of Sri Lanka’s first recycling plant for such cartons. The company aims to become fully plastic neutral by 2026.
Chairman and Managing Director Bernie Stefan said the milestone reflects the long-standing trust Sri Lankan consumers have placed in the company and the partnerships it has built across the country over generations.
By Sanath Nanayakkare
Business
Over a century of Business History goes to the National Archives
The Ceylon Chamber of Commerce has formally handed over its historical records to the National Archives Department of Sri Lanka, placing over a century of the nation’s commercial history into the care of the country’s official custodians of heritage.
The historical archive being handed over spans from the Chamber’s founding in 1839 to 1973, and includes correspondence, meeting minutes, reports, ledgers, and publications that chronicle the development of trade, enterprise, and industry in Sri Lanka. Together, these records provide a rare and detailed account of how the island’s economy evolved and how its business community helped shape national progress.
The Ceylon Chamber of Commerce was established on 25 March 1839 on the principle that the interests of commerce and trade are best advanced when merchants unite and cooperate in matters affecting the common good. At the time, Ceylon was among the earliest regions in Asia to establish a chamber of commerce, alongside counterparts in Bengal, Bombay, Madras, Canton, Penang, and Singapore.
From its earliest years, the Chamber played a central role in organising and guiding trade. It played a central role in establishing and growing the export economy built on commodities such as coffee, cinnamon, coconut oil, tea, and rubber, and hosted the island’s renowned tea and rubber auctions. It also developed rules and standards for trading practices, helping create an environment of trust and reliability that enabled Sri Lanka’s commerce to thrive.
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