By Hiran H.Senewiratne
CSE trading activities were extremely bullish in the first half of yesterday but subsequently price depreciation was noted in two index- heavy LOLC subsidiary companies, namely, Commercial Leasing and Finance and LOLC Finance. This move dragged the All- Share Price Index to negative territory, despite a very healthy turnover level that touched the Rs 11billion mark, stock market analysts said.
Commercial Leasing and Finance dropped its share price by seven per cent or Rs 5.20. Its share price moved downwards to Rs 61.90 from Rs 67.10, thus contributing 74 negative points to the All- Share Price Index. LOLC Finance, which contributed 18.8 negative points to the All- Share Price Index, depreciated its share price by five per cent or Rs 1.60. Its share price depreciated to Rs 26.50 from Rs 28.10. However, other blue-chip companies performed in a positive manner, stock market analysts said.
Both indices indicated mixed reactions. All Share Price Index went down by 64.6 points and S and P SL20 went up by 35.38 points. Turnover stood at Rs 11.07 billion with a single crossing. The crossing was reported in LOLC Holdings, which crossed 50,000 shares to the tune of Rs 50 million and its shares traded at Rs 1000.
In the retail market, top seven companies that mainly contributed to the turnover were; Browns Investments Rs 2.2 billion (152 million shares traded), Expolanka Holdings Rs 1.67 billion (5.7 billion shares traded), Vallibel One Rs 667 million (9.3 million shares traded), LOLC Finance Rs 665 million (23.9 million shares traded), LOLC Holdings Rs 655 million (658,000 shares traded), Brown and Company Rs 502 million (1.7 million shares traded) and Royal Ceramic Rs 259 million (3.9 million shares traded). During the day 402 million share volumes changed hands in 68000 transactions.
Yesterday, the US dollar rate was quoted at Rs 203.25, which was the controlled price of the Central Bank to prevent price escalation in essential imported items. The US dollar rate is artificially controlled by the Central Bank and its actual price would be above the Rs 250 level.
Wing Commander (Retd.) D. Pradeep S. Kannangara elected president, Industrial Security Foundation
The Industrial Security Foundation (ISF) which acts as the sole organization in Sri Lanka to represent the Private Security industry having incorporated by an Act passed in the Parliament, Act No. 51 of 1999, elected Wing Commander (Retd.) Pradeep Kannangara as its President for the years 2022/2023 at its 30th annual General Meeting which was held at the PIM Auditorium in Borella. Wing Commander Pradeep Kannangara was appointed President while 14 other members were appointed to the Executive Committee, strengthening the ISF in order to drive and uplift the standards of the private security industry in Sri Lanka.
He has served on the ExCo consecutively since 2012 under four different presidents where he held the positions of Senior Vice President during the last three consecutive years. He has also been a committed member of the ISF and was awarded prestigious coveted FISF title due to his many valuable contributions to the organization and the Private Security Industry in Sri Lanka in 2012.
Wing Commander Kannangara’s journey into private security began after a successful career in the Sri Lanka Air Force for over 24 years where he served in many capacities finally being the Officer Commanding of the Special Air Borne Force. A recipient of the Ranasura Padakkama (RSP) Gallantry award for his bravery, sacrifices and service to the nation by the President of the Socialist Republic of Sri Lanka in 1990. He holds a Master’s in business management from the Edith Cowan University, Perth, Australia too and serves as a Board Director in AB Securitas (Private) Limited in Sri Lanka and AB Securitas Bangladesh Limited.
Kitchen & Bedroom reaffirms its partnership with Häfele Sri Lanka
Kitchen & Bedroom, a name synonymous in the interior designing and furniture sector in the country recently celebrated its long-standing partnership with Häfele Sri Lanka during the latter’s 12th year anniversary celebratory event, reaffirming its ambitious plans to further strengthen and explore the numerous opportunities available here.
Häfele Sri Lanka, part of Häfele India which is a wholly owned subsidiary of the Hafele Global network, is a technology partner for various projects and initiatives of Kitchen & Bedroom. Both the companies operate in the interior design space, sharing their cumulative knowledge and expertise to provide extensive and personalized solutions catering to domestic requirements.
‘We take great pride in our association with Häfele Sri Lanka having exchanged and collaborated on many projects both commercial and household. We share similar values such as providing high quality, sustainable, functional and customized solutions to our customers, and most importantly to guide them through every aspect and step of the project and how best we could bring out their desired design,’ said Dr. Sacquaff, Kitchen & Bedroom Group CEO.
DSI strengthens its islandwide presence with three new showrooms
Amid the prevailing economic hardships faced by Sri Lanka, Sri Lanka’s premier footwear brand DSI recently expanded its islandwide presence in the country with the opening of three new showrooms in Kahawatta, Akuressa, and Chavakachcheri, with the aim of offering greater access to its diversified product range to a wider customer base.
Gracing the special occasion, the showrooms were declared open by D. Samson & Sons (Pvt.) Ltd. Managing Director Thusitha Rajapaksa, in the presence of Director Asanka Rajapaksa, General Manager Pradeep Samarathunga, National Sales Manager – Retail Sales Naleen Weerawardana, invitees, and well-wishers.
Speaking at the opening ceremony, Thusitha Rajapaksa stated: “We are excited about expanding DSI wings to three new locations. Despite the ongoing economic conditions of the country, we took a call to take a proactive measure to expand our islandwide presence. While it has been a challenge, the commitment and hard work of our team has made it possible to serve our loyal customers better, and we are confident that we will be able to continue these efforts in the future as well.”
DSI is renowned for its well-trained staff who offer exceptional customer service. The three new DSI showrooms prioritize providing a unique service and customer support to make purchasing further convenient for the customer.
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