Business
JKH shares appreciate with firming of SLPA West Container Terminal deal
By Hiran H.Senewiratne
CSE trading activities became positive yesterday due to improved investor sentiment stemming from the opening of the country after the one month lockdown, proper administration of the vaccination programme for the people by the government , releasing of a road map for the development of the economy by the Central Bank Governor Ajith Nivard Cabraal and the firming of a strategic deal concerning the Colombo Port, the Adani Group signed on a build-operate-transfer (BOT) basis with its local partner JKH and the Sri Lanka Ports Authority (SLPA). The aim of the latter is to jointly develop the SLPA’s West Container Terminal (WCT), stock market analysts said.
While the Adani Group has been in talks with JKH, one of the largest conglomerates in Sri Lanka, on aspects of design and a probable timeline for execution, Thursday’s agreement among all three stakeholders will bear details of the execution of the project, officials in Colombo, who are familiar with the negotiations, revealed to The Hindu newspaper. Owing to this US $ 700 million deal, JKH shares appreciated by Rs. 3.25 or 2.2 percent. Further, JKH became the second largest contributor to the All Share Price Index, which contributed 9.6 points.
Both CSE indices moved upwards. The All Share Price Index went up by 49.3 points and S and P SL20 rose by 49.1 points. Turnover stood at Rs. 6.9 billion with five crossings. Those crossings were reported in JKH, which crossed three million shares to the tune of Rs. 447 million and its shares traded at Rs. 149, Brown and Company 900,000 shares crossed for Rs. 180.6 million, its shares traded at Rs. 202, Expolanka Holdings 700,000 shares crossed for Rs. 140 million, a share traded at Rs. 200, Nation Development Bank 500,000 shares crossed for 38.2 million, its shares traded at Rs. 76.50 and Alumex 2.5 million shares crossed for Rs. 39 million, its shares fetched Rs. 12.
In the retail market, five companies that mainly contributed to the turnover were; Expolanka Holdings Rs. 1.95 billion (9.8 million shares traded), Brown and Company Rs. 918 million (88.7 million shares traded), LOLC Holdings Rs. 515 million (824,000 shares traded), JKH Rs. 426 million (2.8 million shares traded) and Ambeon Capital Rs. 305 million (20.3 million shares traded traded). During the day 284 million share volumes changed hands in 39000 transactions. Hotel sector counters showed a bit of price appreciation due to positive external environmental factors. Jetwing Symphony Hotel shares appreciated and the entity announced that they do not possess any undisclosed price sensitive information.
A director attached to Browns Investments, Kamantha Amarasekera, gifted five million shares worth Rs. 9.90 per share to the charitable organization, Helpage, amounting to Rs. 49.5 million.
Several more Hayleys Group companies announced interim dividends. Dipped Products declared a 95 cents per share first interim dividend, Alumex announced a 10 cents per share first interim and for Hayleys Fabric it was a 40 cents per share first interim. Haycarb on Tuesday announced an 80 cents per share first interim dividend.
Yesterday 1 US dollar was equal to 199.87 Sri Lankan rupees. This is liable to change depending on the Central Bank policy announcement today.
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.”
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
