Business
Dhammika Perera enters Commercial Bank’s top 20 shareholder list
Billionaire businessman Dhammika Perera has entered the top 20 shareholder list of Sri Lanka’s top private sector bank, Commercial Bank of Ceylon PLC, for the first time becoming its 14th largest ordinary voting shareholder in the quarter ended on June 30, this year.
According to Commercial Bank’s latest quarterly interim financial statements, Perera owned a 1.45 percent stake or 16.29 million ordinary voting shares of the bank, as of June 30, 2021.
In the second quarter, two UK-based funds were the main sellers of Commercial Bank shares.
Aberdeen Standard Investment Holdings’ Asia Dragon Trust, which had a 0.83 percent stake in Commercial Bank in the first quarter, being the 16th largest shareholder, didn’t appear among the top 20 shareholders of the bank in the second quarter.
According to the latest disclosures of the fund, it had reduced its exposure to Sri Lankan securities to 0.3 percent during the quarter, from one percent in the previous year.
Similarly, LF Ruffer Pacific and Emerging Markets Fund, which was the 19th largest shareholder of Commercial Bank, with a 0.66 percent stake in the first quarter of the year, didn’t appear among the top 20 largest shareholders of the bank in the second quarter, effectively reducing its exposure to Sri Lankan equities to 6.4 percent in the second quarter, from 7.4 percent in the previous quarter.
Along with Perera, Southern Province-based Andaradeniya Estate (Pvt.) Ltd, controlled by Dr. W. Jinadasa, also appeared among the top 20 shareholders of the bank. Andaradeniya Estate had a 0.48 percent stake, with 5.35 million ordinary voting shares in the bank, as at June 30, 2021.
During the quarter, Commercial Bank shares were trading between the Rs.79.00-92.30 range per share. The bank’s shares closed at Rs.83.50 a share on August 17, down 12 percent.
DFCC Bank PLC maintained its position as the single largest shareholder of Commercial Bank, with a 12.02 percent stake, followed by a 9.88 percent stake held by Indra Traders’ Y.S.H.I. Silva and the Employees’ Provident Fund (EPF), with a 8.62 percent stake.
The International Finance Corporation (IFC) held around 14.4 percent stake of Commercial Bank, altogether including direct holdings and through two of its funds.
Harry Jayawardena-controlled Melstacorp PLC maintained its position as the sixth largest shareholder of the bank, with a 4.14 percent stake.
Business
AHK Sri Lanka champions first-ever Sri Lankan delegation at Drupa 2024
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.
Business
HNB General Insurance recognized as Best General Bancassurance Provider in Sri Lanka 2024
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.”