Business
LOLC Holdings Group SL’s top profit earning listed entity for second year running
While group profits have grown, a loss posted at company level
LOLC Holdings PLC, the highly diversified conglomerate quoted on the Colombo Stock Exchange, has in its just published annual report told its shareholders that the publication of its results for 2019/20 was, in the words of its Deputy Chairman Ishara Nanayakkara, “an apt occasion to announce the good news……that LOLC has achieved the distinction of being the most profitable listed entity in Sri Lanka for two years in a row.”
While an after tax profit of Rs. 19.79 billion, up slightly from the previous year’s Rs. 19.64 billion, has been posted by the group, at company level there was a loss of 9.09 billion, up from a loss of Rs. 3.2 billion a year earlier. LOLC last paid a dividend of 50 cents a share in 2013 but its share closed the year at Rs. 88.90 and was trading at over Rs. 120 last week.
Nanayakkara said that LOLC had total assets of USD 7.083 billion “and a considerable footprint overseas.”
“Reflecting this strength, the audited financial statements I place before you for the year under review mirror the resilience of the group, which was able to record a marginal increase in profit after tax….notwithstanding the dismal economic and political climate that prevailed during the period,” he said.
He attributed his optimism to the fact that 80% of their profit before tax is derived from overseas. This will assure their partners and shareholders that their diversified business interests will always enable the group to achieve growth regardless of challenges in their Sri Lanka operations.
The LOLC group is into financial services, construction, agriculture and plantation, manufacturing and trading, leisure and renewable energy and is expanding overseas. It also has some other strategic investments in its portfolio.
The report said that the group had rapidly evolved into being the biggest non-banking financial institution in the country and one of its biggest and most diversified conglomerates.
“Our footprint in Sri Lanka spans every district, from the rural hinterland to major cities and we have enduring business partnerships with a host of financial and developmental organizations across the world,” the report said.
“We have significantly successful financial services investments in Cambodia,, Myanmar, Pakistan, Indonesia, the Philippines, Nigeria and Zambia; business operations in Maldives and Sierra Leone as well as corporate offices in Singapore, UAE and Mauritius and we continue to expand our international presence by actively seeking new opportunities in the region.”
Discussing the financial services sector, Nanayakkara said they had performed to the best of their ability against the backdrop of multiple shocks including the Easter bomb, the presidential election and the Covid pandemic “which fortunately did not impact the year under review in any significant manner although it will cast a shadow on how the local and global economy will recover in the next financial year.”
The 2018 debt waiver by the then government had caused irrevocable damage to the country’s microfinance sector. The concession was granted only to arrears clients discouraging regular clients, adversely affecting the healthy recovery ratio of over 90% maintained up to that point.
Business
PM ‘Rings the Bell’ at CSE to champion financial literacy and investor education
As part of World Investor Week (WIW) 2026, the Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) joined stock exchanges around the world in ringing the market opening bell for financial literacy on 5 October 2026, under the patronage of Dr. Harini Amarasuriya, Prime Minister of the Democratic Socialist Republic of Sri Lanka.
World Investor Week is an annual global campaign led by the International Organization of Securities Commissions (IOSCO) to raise awareness of the importance of investor education and investor protection. The “Ring the Bell for Financial Literacy” initiative, pioneered by the World Federation of Exchanges (WFE), brings together stock exchanges and other stakeholders worldwide to promote greater financial literacy and encourage individuals to make informed financial decisions.
The ceremony also marked the 40th anniversary of the CSE and the joint launch by the SEC and the CSE of the Stock Market Game, an online stock market simulation based on the ATrad trading system.
The Stock Market Game enables participants to gain practical experience of how the stock market works, make investment decisions and construct portfolios of listed shares without using real money. The platform is accessible through the websites of the SEC and CSE and is expected to serve as an important practical tool for promoting financial education. It is envisaged that the Stock Market Game will also be used to conduct simulation competitions among universities and the 100 Capital Market Clubs established in schools across the country.
The ceremony also featured the commemorative issuance of a stamp and First Day Cover to mark the 40th anniversary of the CSE. Issued in collaboration with the Department of Posts and the Philatelic Bureau of Sri Lanka, the commemorative stamp and First Day Cover were presented to Prime Minister Dr. Harini Amarasuriya, by the SEC Chairman Snr. Prof. D.B.P.H. Dissabandara and Ray Abeywardena, Director CSE and Chairman of Central Depository Systems (CDS).
Welcoming the gathering, Rajeeva Bandaranaike, Chief Executive Officer of the CSE, highlighted the importance of obtaining reliable information when making investment decisions.
“We operate in a digital world where a vast amount of information and data is disseminated through social media. While some of this information is factual, some may be inaccurate or misleading. When investing in the stock market, it is essential to make informed and prudent investment decisions. Therefore, investors should obtain information and data from reliable and responsible sources and persons before making investment decisions.”
Addressing the gathering, SEC Chairman Snr. Prof. D.B.P.H. Dissabandara emphasised that the SEC’s role extends beyond regulation to facilitating the further development of the capital market.
“The SEC needs to determine how best to introduce the stock market to Generation Alpha, Generation Beta and generations beyond. When it comes to investors, we need to build confidence in the market, because people will invest only when they have confidence in the market.’’
Business
Rs. 5 million worth of prizes to be given at 8th edition of CSE Masterminds Quiz Competition
The Colombo Stock Exchange (CSE) has announced that the eighth edition of the CSE Masterminds Quiz will be held on 9th October 2026, from 3.00 p.m. onwards, at the Main Ballroom, Shangri-La Colombo.
Recognised as Sri Lanka’s premier capital market quiz competition, CSE Masterminds brings together teams from the public and private sectors. Participants will be tested across international business, global markets, current affairs, the Sri Lankan economy and business, the Sri Lankan stock market, and sports and entertainment, before a concluding rapid-fire round.
This year the winning team can win up to Rs. 2,000,000, the runners-up up to Rs. 1,000,000, and the second runners-up Rs. 750,000. Sector awards will also be presented to the highest-performing team from each participating sector. Guest participants will also be able to compete in rounds of Audience questions, and will have the opportunity to participate a raffle draw for three free return tickets provided by Fits Aviation (Pvt) Ltd.
The evening will also include an exclusive after-party with live music provided by the band ‘Doctor’ featuring guest performer Umara Sinhawansa, fine food and beverages, providing an opportunity for networking and celebration. Every participant will receive a premium goodie bag made possible by the support of the event’s sponsorship partners. Collectively, the event will feature over Rs. 5 million worth of prizes, rewards, and giveaways, encompassing championship prizes, sector awards, audience engagement prizes, raffle draw offerings, and goodie bags.
Sponsorship partners include:
Platinum Sponsors: Hatton National Bank PLC and Bartleet Religare Stockbrokers (Pvt) Ltd.
Gold Sponsors: Ex-Pack Corrugated Cartons PLC, Asha Securities Ltd., and Lanka Securities (Pvt) Ltd.
Silver Sponsors: Barista Coffee Lanka (Pvt) Ltd., Capital Trust Holdings (Pvt) Ltd., LOLC Holdings PLC, Arpico Ataraxia Asset Management (Pvt) Ltd., IronOne Technologies (Pvt) Ltd., and LankaPay (Pvt) Ltd.
Co-Sponsors: Access Engineering PLC, Bank of Ceylon, Commercial Bank of Ceylon PLC, CryptoGen (Pvt) Ltd., Deloitte Lanka (Private) Limited, Dialog Finance PLC, Efutures (Pvt) Ltd., People’s Leasing & Finance PLC, Senfin Asset Management (Pvt) Ltd., and Softlogic Stockbrokers (Pvt) Ltd.
Business
NCCSL to conduct practical workshop on food labelling and advertising regulations in Sri Lanka
The National Chamber of Commerce of Sri Lanka (NCCSL) is organizing a one-day practical workshop on “Food Labelling & Advertising Regulations in Sri Lanka” on Thursday, 8th October 2026 from 9.00 a.m. to 4.30 p.m. at the National Chamber of Commerce, Colombo 10. The workshop has been organised to provide a practical understanding of the latest regulatory requirements governing the food products labelling and advertising of food products in Sri Lanka, with particular attention to regulatory developments applicable in 2026, compliance requirements, and the potential legal and financial implications of non-compliance.
As food products increasingly compete not only with quality and price but also on packaging, labelling and promotional claims, businesses must ensure the information they communicate to consumers is accurate, transparent and consistent with applicable regulatory requirements. Understanding these requirements is therefore essential for businesses seeking to protect their brands, maintain consumer confidence, and minimize regulatory and legal risks.
The practical workshop will go beyond an overview of regulations and focus on how businesses can apply regulatory requirements in their day-to-day operations. Participants will be guided through key areas of food regulatory compliance, including the national food regulatory framework, recent food labelling regulations and key changes, mandatory approvals and prohibitions relating to food labelling, and the litigation process associated with regulatory violations. The programme will also cover several areas of growing importance to the food industry, including the EU EMPCO Directive, food colour coding regulations, regulations relating to food trans-fatty acids and the importance of compliance in the use of food additives. Practical exercises will further enable participants to apply their knowledge to real-world compliance situations and strengthen their ability to identify potential regulatory concerns.
For further information and registration, please contact the National Chamber of Commerce of Sri Lanka on 011 4741788 – Nethmi or Udula – 071 403 4775.
-
News7 days agoUS-assisted ‘Ice’ detection: NPC to examine IGP’s move to transfer drug-busting team
-
Editorial6 days agoColombo Port drug bust: The plot thickens
-
Editorial7 days agoDrug busting, transfers and trust deficit
-
Features4 days agoThe first woman in the foreign service or Ceylon Overseas Service it was then called
-
News7 days agoSri Lankan facing death penalty in Saudi Arabia: Mano G appeals to Crown Prince
-
Editorial5 days agoFuelling discontent and protest
-
News3 days agoGeneva takes up Sallay’s case and govt. ignores opportunity to answer accusations
-
Latest News5 days agoTharindu Rathnayake, bowlers secure Asian Games Bronze for Sri Lanka
