Business
Market players wary of IMF board-level approval, monetary policy direction
By Hiran H. Senewiratne
Trading at the Colombo Stock Exchange (CSE) kicked off with a positive note yesterday, but later turned negative with profit takings recorded on several stocks.
” Central Bank Governor Dr. Nandalal Weerasinghe’s recent comments to Reuters that the country’s debt restructuring and IMF board level approval would likely be delayed by another six months was in part a reason for the market to fall, market analysts said.Therefore, the stock market fell in mid day trade, a day after the market gained on debt restructuring assurance feedback by India and China, an analyst said. “Although The market, although it’s in the red, still is on a positive sentiment, because the market gained in the past few sessions and is bound to slow down,” the analyst said.
Investors are waiting for the Monetary Policy Review by the Central Bank due today, which is another reason why the market is on slower sentiments, analysts said.
Amid those developments both indices moved downwards. All Share Price Index down by 88.55 points and S and P SL20down by 32.6 points. Turnover stood at Rs 1.48 billion with a single crossing. The crossing was reported in Sunshine Holdings, which crossed 590,000 shares to the tune of Rs 23 million and its share price traded at Rs 39.
In the retail market, the top seven companies that mainly contributed to the turnover were Browns Investments Rs 125 million (17.5 million shares traded), Softlogic Life Insurance Rs 120 million (1.1 million shares traded), Softlogic Capital Rs 101.5 million (6.9 million shares traded), Sampath Bank Rs 94.7 million (2.2 million shares traded), Expolanka Holdings Rs 80.7 million (412,000 shares treated). ACL Cables Rs 68.7 million (853,000 shares traded)) and LOCL Holdings Rs 56.5 million (131,000 shares traded). During the day 70.6 million share volume changed hands in 21000 transactions.
It said high net worth and institutional investor participation was noted in Sampath Bank. Mixed interest was observed in Expolanka Holdings, First Capital Holdings and Capital Alliance whilst retail interest was noted in Browns Investments, Industrial Asphalts and LOLC Finance.The Diversified Financials sector was the top contributor to the market turnover (due to First Capital Holdings, First Capital Treasuries and Capital Alliance) whilst the sector index gained 4.06 percent.
The share price of First Capital Holdings gained Rs. 3.10 (8.40 percent ) to close at Rs. 40. The share price of FirstCapital Treasuries recorded a gain of Rs. 1.50 (5.86 percent) to close at Rs. 27.10. The share price of Capital Alliance appreciated by Rs. 2 (6.45 percent) to close at Rs. 33.The Food, Beverage & Tobacco sector was the second highest contributor to the market turnover (due to Browns Investments) whilst the sector index increased by 2.09 percent . The share price of Browns Investments increased by 40 cents (5.97 percent) to close at Rs. 7.10.
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.”
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.”
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.”
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