Business
Expolanka Holdings’ Exit Offer on until June 10; delisting challenged in court
By Hiran H.Senewiratne
Expolanka Holdings PLC, a company that at one time enjoyed one of the highest market capitalizations in the CSE, has exited the market and is extending its Exit Offer until 4.30 PM on June 10, 2024.
SG Holdings, the parent company of Expolanka Holdings, announced on March 1 it was delisting the company from the CSE.
Some minority shareholders have filed a case challenging the delisting of Expolanka Holdings, before the Court of Appeal of Sri Lanka. The court is scheduled to hold a further hearing on June 6.
“By reason of the aforesaid and by reason of the many requests received by Foreign shareholders and representatives of deceased shareholders requesting additional time, the company has taken the decision to extend the Exit Offer until 4.30 PM on Monday, 10th June 2024, Expolanka said in a CSE filing.
Both indices moved downwards. The All Share Price Index went down by 44.46 points, while the S and P SL20 declined by 7.14 points. Turnover stood at Rs 686 million without a crossing.
In the retail market top seven companies that mainly contributed to the turnover were; Browns Investments Rs 73.5 million (12.4 million shares traded), Dialog Rs 71.8 million (6.4 million shares traded), Hayleys Rs 35 million (375,000 shares traded), L0LC Holdings Rs 33 million (73000 shares traded), Dipped Products Rs 24 million (724,000 shares traded), CIC Holdings (Non- Voting) Rs 23.3 million (402,000 shares traded) and Sampath Bank Rs 16.5 million (212,000 shares traded). During the day 43.1 million share volumes changed hands in 9180 transactions.
Yesterday the rupee opened stable at 301.85/302.00 to the US dollar, from 301.90/302.00 the previous week, dealers said. Bond yields were steady. A bond maturing on 15.12.2026 was quoted up at 9.75/85 percent from 9.80/95 percent. A bond maturing on 15.09.2027 was quoted at 10.40/50 percent from 10.40/55 percent. A bond maturing on 01.07.2028 was quoted stable at 10.80/90 percent.
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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