Business
Aberdeen Holdings sells 4.5 percent stake in Ex-Pack Corrugated Cartons for Rs. 240 million
By Hiran H,Senewiratne
Aberdeen Holdings, a privately-held diversified conglomerate in Colombo, has shed 4.5 per cent of its stake in Ex-Pack Corrugated Cartons PLC for Rs. 240 million, CSE sources said.
It is said that I15 million shares were done via two crossings at Rs. 16 each. Overall Ex-Pack saw 20.4 million shares changing hands via 816 trades for Rs. 331.5 million.
The share price closed at Rs. 17.30, up by 50 cents or 3 per cent. Ex-Pack’s net assets per share as at June 30 was Rs. 5.90, up from Rs. 5.20 as at end FY21. Highest value in 1Q of FY22 was Rs. 25.40 and the lowest was Rs. 7, while it closed the quarter at Rs. 9.20.
Amid those developments the CSE started on a positive note at the beginning of yesterday but shares fell in mid-morning trade.
Market analysts were expecting some movement of funds out of the equities market ahead of the Rs 75 billion bond auction due to better interest rates, market analysts said.
Plantation companies have witnessed some profit-takings which resulted in the overall downturn of the market. However, Lanka IOC stocks are still at their peak level and noted heavy buying interests anticipate major profits for the company due to the ongoing oil crisis in the country.
Both CSE indices moved downwards. The All- Share Price Index went down by 64 points and S and P SL20 declined by 4.1 points. Turnover stood at Rs 3.7 billion with a single crossing. The crossing was reported in Watawala Plantations, which crossed 3.7 million shares to the tune of Rs 340 million and its shares traded at Rs 92.
In the retail market top seven companies that mainly contributed to the turnover were, Lanka IOC Rs 507 million (1.9 million shares traded), Expolanka Holdings Rs 278 million (1.2 million shares traded), Watawala Plantations Rs 178 million (1.8 million shares traded), CIC Holdings (Non- Voting) Rs 168.6 million (2.3 million shares traded), ACL Cables Rs 149 million (1.8 million shares traded), Balangoda Plantations Rs 149 million (1.3 million shares traded) and CIC Holdings (Voting) Rs 118 million (1.3 million shares traded). During the day 152 million share volumes changed hands in 38000 transactions.
The Index opened on a positive note and remained high throughout the session and closed at 9,813, gaining 109 points backed by Lanka IOC, the top contributor to the ASPI. Turnover improved, led by a joint contribution of 44% from the Materials sector and Capital Goods sector.
It is said high net worth and institutional investor participation was noted in Ex-Pack Corrugated Cartons, JKH and Royal Ceramics. Mixed interest was observed in Lanka IOC, Expolanka Holdings and ACL Cables, while retail interest was noted in SMB Leasing, Browns Investments and Industrial Asphalts.
Yesterday, the Central Bank announced dollar buying rate was Rs 358.78 and the selling rate Rs 369.61.
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
