Business
CSE and USAID hold Issuer Forum in the Southern Region, educating SMEs
The Colombo Stock Exchange (CSE) and the United States Agency for International Development (USAID) collaborated on a forum to provide small and medium sized enterprises (SMEs) in southern Sri Lanka with insights into opportunities to raise capital through the CSE.
Held recently at the Weligama Bay Marriott Resort & Spa, the issuer forum titled “Redefining the Trajectory of Your Business”, provided guidance on exploring effective capital-raising avenues, specifically through listing on the Empower and Diri Savi Boards, which offer dedicated listing platforms for SMEs, focusing on sectors like agribusinesses, livestock, energy generation, ICT, and tourism-related ventures. Industry experts, investment advisors, CSE representatives, and representatives of USAID’s CATALYZE Sri Lanka Private Sector Development Activity led panel discussions and interactive sessions.
“USAID’s goal for SMEs is to unlock opportunities for growth, innovation, and sustainability, paving the way for economic development that benefits everyone,” said Dennis Wesner, deputy director of USAID’s office of Economic Growth. “Forums like this are important for educating SMEs about the available capital resources.”
Addressing the gathering, Rajeeva Bandaranaike, CEO of CSE, said, “The decision to pursue a listing on the stock exchange marks a significant milestone in the life of any company. Going public is not just about raising capital or enhancing liquidity—it’s about unlocking potential, fuelling innovation, and creating value for shareholders, employees, and society at large. It will be a transformative path which starts with a fundamental shift in mindsets.”
Conducting a session on ‘Capital Mobilization through the CSE’, Niroshan De Silva, Assistant Vice President of Research, Capital Alliance Limited, stated, “Sri Lankan SMEs are the backbone of our economy, but many face challenges in accessing growth capital. Listing on the Colombo Stock Exchange (CSE) provides a unique opportunity to address this very need. By going public, SMEs can tap into new sources of capital, allowing for significant expansion and innovation.”
He went on to say, “The CSE also facilitates price discovery, providing a fair market value for existing investors. Additionally, the listing process fosters good corporate governance practices, building trust and transparency for all stakeholders. In short, a vibrant SME sector on the CSE will benefit not only the businesses themselves, but also the Sri Lankan capital market by fostering innovation, diversification, and a culture of strong corporate governance.”
The forum featured a panel discussion titled “Journey Towards Listing & Life after Listing” including Jude Fernando, Inclusive Finance Director, PSD; Chamara Dissanayake, Executive Director, Asia Siyaka Commodities Limited; Rajeeva Bandaranaike, CEO, CSE; Niroshan De Silva, Assistant Vice President, Research, Capital Alliance Limited and with Punyamali Saparamadu, Senior Vice President, Commercial, CSE, serving as the moderator.
The Weligama session follows similar presentations held in Colombo and Jaffna. Attendees reported finding the discussion valuable for its insightful perspectives.
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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