Business
Capital Alliance enters Bangladesh merchant banking
Capital Alliance (CAL) –Sri Lanka’s leader in Capital Market services entered into an investment and partnership agreement with Bangladesh’s BetaOne Investments Limited.
With the formalization of this agreement and its entry to Bangladesh, CAL continues its ambitious yet resolute journey to realize its vision to be ‘The No.1 Investment Bank in Frontier Markets’.
Established in 2011, BetaOne Investments Limited is a leading licensed merchant bank in Bangladesh offering a wide range of financial solutions for both individual and institutional investors.
Under the agreement, CAL will own a significant equity interest in BetaOne Investments Limited and will partner with the current group of shareholders which includes a handful of highly reputed family businesses and professionals in Bangladesh.
BetaOne expects to roll out a full spectrum of Merchant Banking services over the coming months including Mergers & Acquisitions advisory, Debt Capital Markets, Equity Capital Markets, Wealth Management and Margin lending.
CAL was advised on this transaction by Ace Advisory, a leading advisory firm in Bangladesh providing Corporate Advisory and other financial services.
“We are pleased to announce our second entry-point into Bangladesh, having obtained a TREC from the Dhaka Stock Exchange earlier this month. This is a significant milestone in CAL’s venture into other regional frontier markets” commented Ajith Fernando, Group CEO at Capital Alliance. “Bangladesh is expected to be one of the fastest growing economies in the world over the next decade and we are excited to be able to play a part in the evolution of its capital markets. Our partnership with BetaOne will enable us to offer high quality financial solutions to family businesses in Bangladesh who are seeking fresh avenues for growth whilst also offering our international clientele lucrative investment opportunities in a fast-growing market. Sri Lankan Companies have also historically enjoyed good business relations in Bangladesh and we hope to create greater market access for them as they continue to invest and expand globally.”
“What we sought for in an investment partner was a shared purpose to elevate the benchmark for capital markets solutions in the region, founded on a strong set of values that are integral for growth and sustainability in the financial services sector. We are excited to find a likeminded partner in CAL, so that together, we can offer clients competitive advantage at a regional scale,” BetaOne Chairman Zulfiquar Rahman commented.
CAL’s market leading insights and its focus on building long term relationships with family businesses sets it apart from other market players in this space. BetaOne expects to extend this same emphasis in Bangladesh as well.
CAL first entered the Sri Lankan market in 2000 as a licensed primary dealer, rapidly evolving into one of only five non-bank licensed primary dealers in the country. The company has grown over the past two decades to become the market leader in Investment Banking services, offering a growing list of solutions including Wealth Management, Equity & Debt Capital Markets, Mergers & Acquisitions Advisory, Stockbrokering, Fixed Income trading and Private Equity.
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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