Business

Invest Sri Lanka Forum draws strong investor interest in Singapore

Published

11 months ago

2025/08/19

The “Invest Sri Lanka” Investor Forum, organised by the Colombo Stock Exchange (CSE) and the Securities and Exchange Commission of Sri Lanka (SEC) in association with the High Commission of Sri Lanka to Singapore, successfully concluded at the Conrad Singapore Marina Bay, making a compelling case for channeling investment flows into Sri Lanka. The event attracted over 150 prospective investors from diverse sectors in Singapore.

The forum brought together a distinguished line-up of speakers, including Prof. Anil J. Fernando, Minister of Labour and Deputy Minister of Economic Development; Dr. P. Nandalal Weerasinghe, Governor, Central Bank of Sri Lanka; Senarath Dissanayake, High Commissioner of Sri Lanka to Singapore; Senior Professor D.B.P.H. Dissabandara; Chairman, SEC; Ray Abeywardena, Director, CSE; Ruchir Desai, Fund Manager, Asia Frontier Capital Ltd; and Dr. Naveen Gunawardane, Managing Director, LYNEAR Wealth Management. Their insights underscored Sri Lanka’s ongoing reforms, improved macroeconomic stability, and attractive capital market valuations, positioning the country as a frontier market investment destination.

The Sri Lankan delegation included senior representatives from the SEC, CSE and 11 listed companies, and stockbroking firms, collectively presenting a strong case for investment opportunities in Sri Lanka.

Delivering the welcome address, Senarath Dissanayake stated “It is our hope that this forum will not only highlight key developments in Sri Lanka’s capital markets but also inspire new partnerships between Sri Lankan and the Singaporean business communities. Singapore has long been a valued partner for Sri Lanka in investment and innovation. With Sri Lanka’s evolving policy framework and strategic location at the crossroads of South and Southeast Asia, we see compelling opportunities in infrastructure, services, manufacturing, logistics, and the digital economy”.

Commencing the proceedings, Ray Abeywardena observed, “Sri Lanka is not merely a story of recovery, it is a story of transformation. We have a stable macroeconomic environment, a committed reforms agenda, and a capital market gaining regional traction. This is a moment of alignment between policy, performance, and potential. Whether through financial instruments, infrastructure projects, digital finance, or capital market participation, Sri Lanka offers a strategic gateway to a market defined by resilience, reform, and growing global relevance”.

Stressing on the untapped power of the capital market Senior Professor D.B.P.H. Dissabandara remarked, “If a public listed company company like John Keells Holdings can raise the majority of USD 1.4 billion for Cinnamon Life, half the size of the IMF bailout, through our own capital market, why can’t the Government do the same? We have political stability, strong market sentiment, sound macroeconomic fundamentals, and the right policy mindset. The playground is ready, now it’s time to play the match. The SEC will continue to safeguard market integrity while facilitating market development.” Given the current economic situation in the country Professor Dissabandara highlighted that capital market-based financing for SOEs is not just an option but a necessity to enable vibrant growth and economic stability

HProfessor Anil Jayantha Fernando, Minister of Labour and Deputy Minister of Economic Development, presented the government’s policy outlook, focusing on an investment-led growth strategy to reverse a “lost decade” of economic stagnation, supported by new fiscal legislation and sectoral priorities including energy, tourism, manufacturing, agriculture, logistics, and digitalisation.

Highlighting the Government’s commitment to investor confidence, Hon. Prof. Fernando said, “The political sphere is now firmly focused on delivering clean, corruption-free governance. This will be a major boost for investor confidence. Coupled with consistent policies and the provision of modern infrastructure, we are creating a strong foundation for investment growth”.

Dr. P. Nandalal Weerasinghe remarked “We believe the next wave of investment will transform Sri Lanka’s economic landscape. With debt restructuring nearing completion and the potential for a sovereign rating upgrade from CCC+ to the B category, market sentiment is already poised to respond positively. Now is the time to seize the opportunity, before the upgrade takes place”.

He highlighted that key reforms for long-term stability have been implemented, and strong external, monetary policy and fiscal buffers are now in place. Despite severe pressures during the crisis, the banking sector remained solvent, avoided failures, and today stands well-capitalised and highly liquid,” Dr. Weerasinghe said.

The programme featured two panel discussions: “Outlook of the Sri Lankan Economy in Light of Global Uncertainty”, moderated by Ms. Avril Hong, Singapore Reporter for Bloomberg Television & Radio; and “Sri Lankan Equity Market Outlook”, moderated by Ms. Ana Isabel Gonzalez, Chief Investment Officer, Farringdon Asset Management. These sessions explored macroeconomic trends, market performance, and sectoral growth potential, engaging participants in a forward-looking dialogue.

The event concluded with a networking session and one-on-one meetings between Sri Lankan corporates and international investors, fostering direct engagement and potential deal flow. The impact was immediate—foreign investor interest surged, with market turnover exceeding Rs. 1 billion within the first hour of trading the following day, a clear sign of positive sentiment generated by the forum.

The forum was supported by the Singapore Sri Lanka Business Association (SLBA), CFA Society Sri Lanka, International Chamber of Commerce (ICC) Sri Lanka, Singapore Indian Chamber of Commerce and Industry (SICCI), and Sri Lankan Airlines.

All News Advertisement

Business

Oil prices hit $100 for the first time since May

Published

14 hours ago

2026/07/24

Priyan

Oil prices hit $100 a barrel for the first time since May as the escalating conflict in the Middle East reignited fears over global energy supplies.

Brent crude – the global benchmark for oil prices – rose more than 6% on Thursday following several days of increases as the US stepped up military strikes against Iran.

Prices spiked after Houthi militia in Yemen attacked oil tankers in the Red Sea, threatening a key export route that Saudi Arabia has used to bypass the Strait of Hormuz.

Gas prices have also risen steadily over the past month, with the benchmark UK gas price currently at around 150 per therm, up from around 98p at the end of June.

Oil prices had been falling following a temporary ceasefire between the US and Iran.

They dropped back to levels last seen before the US and Israel began military action against Iran on 28 February.

However, the ceasefire has failed and this week US Secretary of State Marco Rubio said the people in charge in Iran were “not ready to make a deal”.

The ongoing conflict risks pushing up inflation for many countries, including UK and the US leading to higher prices for consumers.

Higher oil prices typically lead to petrol and diesel becoming more expensive.

While drivers are affected directly, households could also see prices of other goods, such as food, increase due to businesses passing on higher transportation costs to customers.

Inflation has fallen both in the UK – down to 2.6% in the year to June helped by slowing diesel and petrol prices – and in the US to 3.5%.

But questions remain whether the slow down will prove short lived due to the renewed conflict in the Middle East.

New data released on Thursday showed that UK petrol prices have risen by 5p a litre since the beginning of July, hitting reaching almost £1.56.

Diesel is at £1.72 a litre, on average, according to the RAC.

Average gasoline prices in the US have surpassed $4 a gallon once more, up from $3.92 a month ago, according to motorist advocacy group AAA.

“More expensive fuel and energy can ripple through the wider economy, increasing costs for businesses and ultimately feeding through into the price of food and other goods,” said Jonathan Raymond, investment manager at Quilter Cheviot.

“This creates another headache for central banks as they continue their battle against inflation.

“If energy prices remain elevated, policymakers may come under pressure to keep interest rates higher for longer or even raise them. This would come as a blow to mortgage holders and borrowers already feeling the strain.”

The Bank of England, which sets UK interest rates, has held them at 3.75% in its last four meetings.

Paul Dales, chief UK economist at Capital Economics, said he believed the Bank will “almost certainly” hold them again. But he said analysts still expected that interest rates could be cut next year if energy price rises ease.

Kevin Warsh, the newly-appointed chair of the US Federal Reserve, last week told Congress that the central bank had “no tolerance to persistently elevated inflation”.

US President Donald Trump had pushed Warsh’s predecessor, Jerome Powell, to cut interest rates.

Trump has made it clear he expects Warsh to fulfil his demand for reductions in borrowing costs for Americans.

But the Fed held US interest rates between 3.5% and 3.75% at Warsh’s first meeting last month. He also told Congress that he was committed to “restoring price stability” in the wake of the Middle East conflict impacting prices.

[BBC]

Business

SEC, CSE and CA Sri Lanka sign MOU to advance XBRL-based digital reporting for listed companies

Published

21 hours ago

2026/07/24

Thilina Walpola

The signing ceremony at SEC from Left to right: Ms. Manuri Weerasinghe| Director Corporate Affairs, SEC, Tushara Jayaratne | Acting Director General, SEC, Ms. Nilupa Perera | Chief Regulatory Officer, CSE, Rajeeva Bandaranaike | Chief Executive Officer CSE, Senior Prof. D.B.P.H. Dissabandara,| Chairman, SEC, Tishan Subasinghe | President, CA Sri Lanka, Ms. Anoji de Silva | Vice President, CA Sri Lanka, Neranjith Gamage | Commission Member, SEC, Ms. Lakmali Priyangika | Chief Executive Officer, CA Sri Lanka, Ms. Rishdha Zarook Ishaq | Director Legal and Enforcement, SEC , Ms. Kumuduni Maduwanthi |Senior Manager Legal, CA Sri Lanka.

The Securities and Exchange Commission of Sri Lanka (SEC), Colombo Stock Exchange (CSE), and the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) signed a Memorandum of Understanding (MoU) to collaborate on the implementation of eXtensible Business Reporting Language (XBRL) based reporting for companies listed on the CSE.

The agreement marks a significant milestone in Sri Lanka’s efforts to modernise corporate reporting and strengthen the digital infrastructure of the capital market. The initiative aims to streamline the submission of both financial and non-financial information by listed entities, enhancing transparency, accessibility and investor confidence.

The MoU formalises the partnership, following the establishment of a joint SEC-CSE committee tasked with driving the initiative. With the in-principle approval of the SEC, the committee has been working closely with CA Sri Lanka to develop the framework required for the successful rollout.

XBRL is the internationally recognised standard for digital business reporting, developed and maintained by XBRL International, a global non-profit consortium. The standard enables financial and business information to be reported in a structured, machine-readable format, facilitating more efficient analysis, comparison and interpretation of corporate disclosures by regulators, investors, analysts and other stakeholders.

The introduction of XBRL reporting is expected to deliver several key benefits for both listed companies and users of financial information. These include reducing reliance on manual data processing, improving the accuracy and consistency of reported information, supporting more advanced data analysis, and lowering long-term reporting costs. The flexibility of the XBRL framework also allows organisations to tailor taxonomies to meet specific reporting requirements. In addition, XBRL adoption will enhance market transparency and efficiency by enabling quicker access to comparable corporate information. It will also align Sri Lanka’s reporting framework with global standards, making the country’s capital market more accessible and attractive to international investors familiar with XBRL-based financial reporting.

Business

LOLC Insurance and Seylan Bank celebrate Bancassurance Excellence through “League of Greatness” 2025

Published

21 hours ago

2026/07/24

Thilina Walpola

The Achievers of the Night

LOLC Insurance recently hosted the “LOLC Insurance – Seylan Bancassurance Felicitation Night 2025” under the theme “League of Greatness,” celebrating the success of its longstanding bancassurance partnership with Seylan Bank. The event marked another milestone in a strategic collaboration that has continued to grow since 2013.

The felicitation ceremony brought together senior management, sales leadership, branch representatives, and top-performing teams from both organisations to recognise excellence, appreciate contributions, and reaffirm the enduring partnership between LOLC Insurance and Seylan Bank. The collaboration currently spans 104 Seylan Bank branches across Sri Lanka, delivering accessible life and general insurance solutions islandwide.

Speaking at the event, Ramesh Jayasekara, Director/Chief Executive Officer, Seylan Bank PLC, stated, “Our partnership with LOLC Insurance continues to create meaningful value for customers while further strengthening the bancassurance proposition within the banking sector. The dedication and collaborative spirit demonstrated by both teams have been instrumental in achieving these milestones and sustaining the growth of this partnership. We look forward to enhancing our collaboration and delivering greater value to customers in the years ahead.”

Sharing insights during the event, Eugene Seneviratne, Deputy General Manager – Retail Banking, Seylan Bank, added, “The professionalism and operational efficiency demonstrated by the bancassurance teams have been instrumental in consolidating this partnership. Our branch teams continue to seamlessly manage day-to-day bancassurance functions with minimal operational escalations, reflecting the strength of a well-structured and highly efficient framework. This has contributed to a smooth and mutually beneficial working relationship, enabling the partnership to enhance coordination, execution, and overall performance.”

Addressing the gathering, Kithsiri Gunawardena, Chairman/Principal Officer of LOLC General Insurance and Director of LOLC Life Assurance, stated, “Successful partnerships are built on trust, shared values, and a common vision. The strength and longevity of this collaboration reflect the commitment of both organisations to delivering meaningful impact to customers while advancing the country’s bancassurance sector. The positive feedback and appreciation consistently received from Seylan Bank regarding the quality of service delivered and the steadfast support extended by the teams stand as a testament to the professionalism and service excellence upheld throughout the partnership.”