Business
ASPI ends sharply lower with most sectors witnessing declines
By Hiran H.Senewiratne
Trading activities at the Colombo Stock Exchange (CSE) were positive in the early part of yesterday, however, an acute market downturn was witnessed due to profit taking towards the end of the day especially at blue chip counters, market analysts said.
“The ripple effect from the global markets due to tensions between Russia and the western world on Ukraine as well as high inflation rate recorded in major global economies continue to reflect on emerging markets like Sri Lanka,” they said.
“Overall however, CSE was able to maintain a healthy turnover level despite profit taking”, they said.
Amid such developments both indices moved downwards. All Share Price Price down by 173.9 points and S and P SL20 down by 111 points. Turnover stood at sis billion with two crossings. Those crossings were reported in Hemas Holdings, which crossed 1.3 million shares to the tune of Rs 91 million and its share price traded at Rs 70 and Vallibel One 350,000 shares crossed to the tune of Rs 32.5 million and its share price traded at Rs 93.
In the retail market top seven companies that mainly contributed to the turnover were Expolanka Holdings Rs 1.26 billion (3.2 million shares traded), Softlogic Life Insurance Rs 512 million (4.1 million shares traded), Browns Investments Rs 339 million (20.3 million shares traded), Kelani Valley Plantations Rs 201 million (1.6 million shares traded), Ceylon Cold Stores Rs 201 (289,000 shares traded), ACL Cables Rs 191 million (1.5 million shares traded) and Grain Elevators Rs 185 million (1.3 million shares traded). During the day 151 million shares volume changed hands in 51000 transactions.
During the day Ceylon Cold Stores share price appreciated by 24 percent or Rs 127.75 after announcing a share subdivision on the basis of one into 10 to boost the number of shares without a corresponding increase in the stated capital. At present, CCS had 95.04 million shares in issue, and post-subdivision, it will increase to 950.4 million.The CCS share startered trading at at Rs. 525.75 at the end of the day it shot up to Rs 649.. The move is subject to shareholder approval at an EGM. The public float of CCS is 18.56 percent held by 2,264 shareholders.JKH saw 80.65 million of its shares traded for Rs. 12.98 billion. Single biggest shareholder, the Canada-based global financial services giant Fairfax, transferred part of its holding via Citigroup Global Markets Ltd. Agency Trading Prop Securities to related party HWIC Asia Fund.Citigroup Global Markets Ltd. Agency Trading Prop Securities as of 30 September 2021 held 141.85 million shares, or 10.7 percent . Of that, 80.16 million shares were transferred to HWIC Asia Fund via two crossings at Rs. 161 per share. The balance stake is expected to be transferred as well to HWIC Asia Fund which held 39.2 million shares, or 3.2 percent stake, in JKH as of 30 September 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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