Business
First Capital Records Highest Ever PAT of Rs. 2.09 Billion
First Capital Holdings PLC recorded a Consolidated Profit after Tax of LKR 2.09Bn for the financial year 2020/21. The results show a significant growth compared to Consolidated Profit after Tax of LKR 1.07Bn recorded in the previous year. The Total Comprehensive Income recorded for year 2020/21 is LKR 2.01Bn compared to LKR 1.04Bn reported in the previous year. Meanwhile, the Company’s financial position remains strong with total assets of LKR 36.7Bn and Equity in excess of LKR 4.8Bn. First Capital is a member of the Janashakthi Group.
Commenting on the Company’s performance Nishan Fernando, Chairman, First Capital Holdings PLC, said, “Our progress during the year is a testament to our strength as a trusted institution with a history of over 35 years.”
First Capital’s Primary Dealer division contributed LKR 1.83Bn in Profit after Tax for the year 2020/21, strengthening its position as market leader.
The Company’s Corporate Finance division contributed Profit after Tax of LKR 265Mn for the financial year. Moreover, the division mobilized over LKR 10.5Bn in listed and unlisted debentures during the period.
The Company’s Wealth Management division recorded a Profit after Tax of LKR 83Mn for the year, delivering its best financial results to date. The division showed significant growth in its assets under management from LKR 26.4Bn (31st March 2020) to end at LKR 45.2Bn as at 31st March 2021.
The Company’s benchmark unit trust, the First Capital Money Market Fund has been the fastest growing fund in its category (Open-Ended Money Market Fund) to surpass LKR 20Bn in Assets.
The Company’s Stock Brokering division recorded a substantial increase in Profit after Tax of LKR 75Mn for the year 2020/21.
Commenting on the Company’s progress Dilshan Wirasekara, Director/ Chief Executive Officer, First Capital Holdings PLC, said, “this year we have delivered our best financial performance in history. As we embark on a new strategic plan, designed to steer our future growth, we remain optimistic about our ability to deliver value to all our stakeholders.”
Further reinforcing the Company’s stable financial position, ICRA Ratings upgraded First Capital Holdings PLC to [SL]A with a Stable outlook.
First Capital Holdings PLC declared an interim dividend of LKR 5/- per share amounting to LKR 506.25Mn for the year 2020/21 in March 2021.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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