Business
Stock market recovers in second session and reaches 98 point level
By Hiran H.Senewiratne
The first half session of the CSE yesterday indicated a highly volatile market due to the country’s Covid 19 deaths rise, while during the second half session the stock market showed some recovery and reached the 98 point level. Buying interest was noted especially in investor favorite counters, stock market analysts said.
Despite the latest LMD-Nielsen IQ Business Confidence Index (BCI) survey indicating that sentiment surrounding the economy continued to regress in July, as 59 percent of respondents said that economic conditions are likely to deteriorate in the coming 12 months, still for all the market was able to retain a healthy turnover level, market analysts said.
Meanwhile, 10 percent of those polled feel that conditions are likely to improve during this period while another 31 percent say the economy will ‘stay the same’. According to the survey sample, long-term prospects for business are likely to improve. More than half (56 percent) of those consulted by Nielsen IQ anticipate an increase in sales volumes in the next 12 months.
The outlook for the short term has also improved slightly with 16 percent of respondents expecting an increase in sales over the next three months. On the other hand, a majority (61 percent) of executives believe that sales will ‘stay the same’ in the coming three months.
Where the investment climate is concerned, 6 percent (compared to 3 percent the previous month) describe conditions as ‘good’ while 16 percent say it is ‘fair.’ However, a majority (78 percent) do not consider this to be a good time to invest in Sri Lanka.
Amid those developments both indices moved upwards. All Share Price Index went up by 87.18 points and S and P SL20 rose by 23.72 points. Turnover stood at Rs. 4.07 billion with three crossings. Those crossings were reported in Melstacorp, where 14.75 million shares crossed to the tune of Rs. 14.75 million, its shares traded at Rs. 49.50, Ambeon Holdings 3.65 million shares crossed for Rs. 122.2 million, and its shares traded at Rs. 33.50 and Hayleys Fabrics one million shares crossed for Rs. 23.2 million, its shares trading at Rs. 23.20.
In the retail market, companies that mainly contributed to the turnover were, Expolanka Rs. 706.5 million (9.4 million shares traded), Browns Investments Rs. 386 million (58.4 million shares traded), LOLC Holdings Rs. 240 million (528,000 shares traded), Dipped Products Rs. 235 million (4.2 million shares traded) and Hayleys Fabrics Rs. 179 million (7.5 million shares traded).
Meanwhile, state-owned Bank of Ceylon’s (BOC) subsidiary, Merchant Bank of Sri Lanka and Finance PLC (MBSL) plans to raise Rs. 2.24 billion in fresh capital via a right issue.
The main purpose of the issue is to comply with the minimum capital rules of the Central Bank of Sri Lanka (CBSL). Approval for the capital raising had been obtained from the Board of MBSL, its majority owner BoC and the regulator, Central Bank of Sri Lanka (CBSL). Exhibiting full confidence in the capital raising effort and in the management of their majority-owned subsidiary and thereby guaranteeing a successful outcome to the capital raising effort, BoC with a near 75% direct ownership stake in MBSL will be subscribing to its entire entitlement in full. The issue will be on the basis of nine new shares for four held, resulting in the issuance of 373.2 million new shares at Rs. 6 each. The stated capital of MBSL at present is Rs. 2.12 billion. During the day 182.2 million share volumes changed hands in 25546 transactions.
Business
APHNH aims to make Sri Lanka more competitive for healthcare investment
Sri Lanka private healthcare leaders recently pledged an action plan with timelines to address the practical priorities of Sri Lanka’s healthcare sector while making it more viable for local and foreign investments.
The Association of Private Hospitals and Nursing Homes (APHNH) has committed to converting recommendations from its first Healthcare Leadership Summit into a trackable outcome document with defined actions, responsibilities, and timelines, marking a shift from discussion to implementation in sector reform efforts.
The summit held on March 9 at Waters Edge, Colombo, brought together hospital leaders, policymakers, regulators, insurers, and international experts to address practical priorities for Sri Lanka’s healthcare sector.
A key outcome of the summit was APHNH’s plan to consolidate recommendations into a single, trackable charter that will outline specific actions, assign responsibilities, establish timelines, and provide periodic progress updates.
“Our objective is to bring the right decision-makers into one room and focus on what can be implemented, not only what can be discussed, ” said Raveen Wickremesinghe, President of APHNH. “We are committed to taking the inputs from today and converting them into a clear, trackable set of actions that strengthens quality, transparency and public confidence, while supporting national health priorities. “
The summit featured insights from Dr. Hafeez Rahman Padiyath, Dr. Hamdani Anver, and Chandana L. Aluthgama on scaling quality and operational discipline. A keynote and fireside discussion with Dr. Paiboon Eksangsri, President of the Private Hospital Association of Thailand, explored lessons from Thailand’s private healthcare development and conditions for making Sri Lanka more competitive for healthcare investment.
By Sanath Nanayakkare
Business
Atlas SipSavi Naththal Poronduwa records positive public participation, benefiting 10,000 students
Atlas, Sri Lanka’s No. 1 learning brand, successfully concluded Atlas SipSavi Naththal Poronduwa, a national initiative that saw strong public participation in supporting children at risk of dropping out of school due to financial hardship. At a time when more than 22,000 Sri Lankan children leave school each year due to rising economic challenges, the initiative reinforced Atlas Sipsavi’s long-standing ‘No Child Left Behind’ promise by turning seasonal generosity into meaningful educational support.
The initiative reached 10,000 students, with beneficiary schools carefully selected to ensure support reached those most in need. The collected books were distributed to children at risk of dropping out, including those whose education had been disrupted by recent adverse weather, ensuring students had essential learning resources at the start of the new school term. Through its flagship Atlas SipSavi programme, the brand focused on improving access to education by providing essential learning tools, scholarships, and infrastructure to create better learning environments, bringing its purpose of ‘making learning fun’ to life in a meaningful way. As part of the initiative, the public was invited to donate schoolbooks, with each contribution matched one-for-one by Atlas. Donation boxes were placed at all Keells outlets island-wide and at Sarvodaya District Offices, making it easy for communities to take part.
Business
John Keells Logistics expands strategic engagement with CWIT through inter-terminal transport operations
John Keells Logistics (Pvt) Ltd (JKLL), one of Sri Lanka’s leading third-party logistics solutions providers, has successfully expanded its operational engagement with Colombo West International Terminal (Private) Limited (CWIT), through inter-terminal transport services within the Port of Colombo. This enhanced engagement further strengthens CWIT’s efforts to improve operational efficiency, reliability, and scalability across terminal activities.
Inter-terminal transport plays a critical role in modern port operations, requiring high levels of coordination, precision, and operational discipline. JKLL’s appointment for ITT operations reflects CWIT’s confidence in the company’s demonstrated capabilities in managing complex transport operations within a high-throughput port environment.
The ITT operations are underpinned by JKLL’s technology-enabled logistics framework, incorporating real-time fleet tracking, performance monitoring systems, and data-driven operational planning. These capabilities provide enhanced visibility and control over transport movements, while ensuring compliance with established safety, productivity, and service quality standards.
The awarding of this engagement to JKLL is a testament to the successful implementation of the Inter-Terminal Vehicle (ITV) operations undertaken by John Keells Logistics at CWIT during the previous year. The ITV assignment was executed through structured operating procedures and disciplined service delivery, contributing to improved cargo movement, operational coordination, and service continuity within the terminal. The performance outcomes of the ITV operations provided the basis for the subsequent expansion of the partnership into ITT services.
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