Business
Sanasa Development Bank goes for SPO
By Hiran H.Senewiratne
Sanasa Development Bank will go for a Secondary Public Offering (SPO) soon. This is the first offering in the recent past and the bank will issue 88 million new shares to the public through this secondary offering, stock market analysts said.
Under this SPO the price of a share will be determined three days prior to the Extra General Meeting, based on the one month volume weighted average price, which would mostly be on par with current market prices, market analysts said.
It is said that the purpose of the SPO would be to strengthen the equity position of the company. At present 91.6 million shares are in issue in the CSE, CSE analysts said.
Amid those developments, the CSE was overly positive yesterday selling pressure was noted on the banking sector, especially in Sampath Bank, Commercial Bank and HNB. This has affected the blue chip index, i.e., S and P SL20.
However, manufacturing sector counters attracted some investors. Meanwhile trade counters increased over 18,000 levels after a month, which indicated a positive signal to the market, analysts said.
The All Share Price Index went up by 24.55 points and S and P SL20 rose by 6.58 points. The turnover stood at Rs. 2.1 billion with a single crossing. The crossing was reported in TJ Lanka, which crossed seven million share volumes to the tune of Rs. 241.9 million, its shares traded at Rs. 39.
In the retail market, five companies that mainly contributed to the turnover were; Dipped Products Rs. 198.6 million (four million shares traded), Hayleys Rs. 186.2 million (2.8 million shares traded), Haycarb Rs. 170.5 million (1.7 million shares traded), Expolanka Rs. 137.1 million (2.95 million shares traded) and JKH Rs. 115.8 million (772,000 shares traded). During the day 77.6 million share volumes changed hands in 18845 transactions.
Year to date ASPI is still up 6.19 percent and S&PSL20 is up by 8.7 percent. Market capitalisation on April 1, stood at Rs. 3.14 trillion, down by Rs. 647 billion from the 2021 peak and lower in comparison to Rs. 795 billion dip as of March 19, 2021.
Analysts, however, continue to stress that the CSE remains attractive. The Price Earnings Ratio (PER) as of April 1 was 14.98 times as against 11.25 times end December 2020 and 14.41 times end-January.
Sri Lanka’s rupee quoted weaker at 200.50/201 to the one week US dollar on Monday, while gilt yields were flat on dull trade, dealers said. The markets were closed on Good Friday. The rupee last closed in the one-week forward market at 199.50/200 to the US dollar on Thursday.
Business
Ceylon Chamber urges govt to convert fiscal gains into productive investment
The Ceylon Chamber of Commerce has acknowledged the government’s recent fiscal gains but is urging a strategic shift of these surpluses into productive public investment to secure long-term growth.
In its review of the National Budget 2026, the Chamber endorsed the government’s “clear trajectory” of fiscal consolidation and disciplined debt management, noting this consistency is crucial for Sri Lanka’s ongoing economic recovery.
However, with the initial post-crisis consumption boom now moderating, the Chamber stressed that the government must pivot from consolidation to investment. It identified targeted capital expenditure in infrastructure, energy, tourism, and digital services as the potential new engines needed to drive the economy forward.
Significantly, the Chamber revealed that 18 of its policy proposals were incorporated into the budget, which include:
Trade: Developing a Trade National Single Window and a new Tariff Policy to phase out para-tariffs.
Investment: Implementing a Public-Private Partnership (PPP) framework, a digital single window for approvals, and a new residence visa scheme for investors.
Digital Economy: Plans to issue the first Digital ID in 2026, roll out 5G licensing, and eliminate service fees for online government payments.
Land & Tourism: Advancing a National Land Use Plan and resuming the Bandaranaike International Airport (BIA) expansion project.
Despite these welcomed inclusions, the Chamber highlighted three critical areas requiring greater focus:
Bridging the Implementation Gap: The Chamber warned that execution with clear timelines is the ultimate test, emphasizing that promises on the Trade Single Window and PPP laws must be delivered on time.
Strengthening Tax Administration: Improving compliance and widening the tax net through better enforcement was deemed more critical than further rate increases.
Improving Public Sector Efficiency: The Chamber argued that the reform agenda is at risk without “substantial improvements” in institutional capacity and inter-agency coordination.
The Chamber also noted a missed opportunity, stating the budget lacked a “targeted investment incentive package” essential for attracting the large-scale, export-oriented investments needed to achieve the government’s 7% growth target.
Furthermore, the Chamber called for clarity on the proposed Economic Transformation Act and urged the government to fast-track legislation for State-Owned Enterprise (SOE) and PPP reforms.
Concluding its comments on the Budget, the Chamber reaffirmed its commitment to collaborate with the government, underscoring that “sustained delivery” on these reforms is the only way to convert current economic stability into durable, broad-based growth.
By Sanath Nanayakkare ✍️
Business
DIMO Healthcare partners with RAB to strengthen Radiology Education in Sri Lanka
In a landmark initiative aimed at empowering Sri Lanka’s healthcare professionals with advanced radiology knowledge, DIMO Healthcare, the healthcare arm of DIMO, recently collaborated with the non-governmental organization Radiology Across Borders (RAB) to host a series of educational sessions on RAB VITAL Ultrasound Scanning. This marks the first time such specialized RAB-led training sessions have been conducted in Sri Lanka.
The programme, which attracted over 80 local medical professionals, took place across four leading medical institutions — the Army Hospital, Hemas Hospital (Wattala), Durdans Hospital, and Lanka Hospitals. The sessions covered a range of vital topics including gynecological and obstetric basic scanning techniques, FAST scans in ICU or point-of-care environments, and deep vein thrombosis scanning.
Speaking on the initiative, Priyantha Dissanayake, Chief Operating Officer of DIMO Healthcare, said:”As a pioneer in the local radiology sphere and the approved partner of Siemens Healthineers, we believe it is our responsibility to bridge the knowledge gap between global medical advancements and local practice. By facilitating such training programmes, we aim to uplift healthcare standards across Sri Lanka and empower our medical professionals with the tools and expertise needed to ensure earlier disease detection and better patient care.”
Business
Levi & Dili: Styling Sri Lanka’s new generation of fearless women
In a fashion landscape often crowded with ‘me too’ products, a new Sri Lankan label is making a statement that is as much about identity as it is about aesthetics. Levi & Dili, the creation of Founder and CEO Ganga Wijayawardane, is emerging as a powerful platform for the modern woman, championing a philosophy where style meets substance.
With a formidable background in International Marketing, Wijayawardane is now channeling her corporate expertise into her lifelong passion for design. The result is a fashion line with an international-contemporary feel, characterised by clean silhouettes, unusual fabric combinations, and curated, hand-picked accessories. But what truly sets Levi & Dili apart is its soul.
“The Levi & Dili woman stands for all women who long to be more, do more, to move beyond traditional roles,” Wijayawardane states. The brand’s designs are intentionally bold and eye-catching, crafted to reflect the multifaceted personality of its wearer. She is envisioned as an entrepreneur, a boss lady, a creative force, a resilient mother – a real woman who is “fearless, focused, and free.” This triad is not just a tagline but the brand’s core design brief, reflected in visuals that showcase capability and agency.
This ambition is matched by a steadfast commitment to quality. The label adheres to rigorous standards through small, controlled production batches, vetting suppliers, and conducting thorough fabric and wear tests. This promise of “affordable luxury” is a key pillar, offering fewer, better pieces with durable materials and considered details that flatter multiple body types. “We spend where it matters – fit, finishing and materials – and edit out anything that adds cost without value,” she explains.
Customer experience remains deeply personal, a non-negotiable for the brand. Online, real stylists are available for consultations, ensuring a high-touch service that continues post-purchase. While currently operating through e-commerce and pop-ups across Colombo, strategic plans are underway for a dedicated design studio, a stepping stone to a future flagship store.
Looking ahead, Wijayawardane’s vision is expansive. Within five years, she sees Levi & Dili as a leading Fashion House, setting the tone for Sri Lankan fashion and moving internationally. The goal is to be a Maison renowned not just for its designs and quality finishes, but for its key message: empowering a new generation of financially independent women who live fully and contribute significantly to the economy.
Levi & Dili is more than clothing; it is a wearable testament to the ambitious, modern Sri Lankan woman.
For new customers: Shop online and at announced pop-ups. For styling help, contact the team at support@leviandili.com or 077 555 2941.
By Sanath Nanayakkare ✍️
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