Business
Four less liquid companies likely to be de-listed from CSE
By Hiran H.Senewiratne
Four less liquid companies in the CSE, will likely be de-listed from the stock market soon. Good Hope Asia Holdings Limited, being the majority shareholder of those four companies, has decided to purchase existing shares of these minority shareholders in order to de-list all entities from the CSE, market analysts said.
Those four companies, Shalimar PLC, Selinsing PLC, Good Hope PLC and Indo- Valley PLC will be delisted from the stock market. They are less liquid and have a lesser number of share volumes in the stock market, market sources said.
Amid those developments, the stock market, compared to previous days, witnessed some recovery yesterday but later that momentum did not sustain as investors’ expectation for more clarity on local debt restructuring went unmet, an analyst said.
In the backdrop, shares edged- up in mid- day trade on very thin volumes and ended with a marginally down. All- Share Price Index went down by 1.39 points and S and P SL20 declined by 7.5 points. Turnover stood at Rs 698 million with a single crossing. The crossing was reported in TJ Lanka, which crossed 3.8 million shares to the tune of Rs 120.8 million and its shares traded at Rs 31.60.
In the retail market top seven companies that mainly contributed to the turnover were, Lanka IOC Rs 94.8 million (174,000 shares traded), Expolanka Holdings Rs 59.5 million (407,000 shares traded), Dialog Rs 31.7 million (3.2 million shares traded), NTB Rs 27.5 million (436,000 shares traded), Sunshine Holdings Rs 24.8 million (589,000 shares traded), Access Engineering Rs 22.9 million (1.6 million shares traded) and Hemas Holdings Rs 21.8 million (343,000 shares traded). During the day 36.2 million share volumes changed hands in 7600 transactions.
Yesterday rupee opened stronger at Rs 309.00/80 against the US dollar in the spot market, up from Tuesday’s close of Rs 311.70/312.20 to the US dollar, dealers said.
The bond market was not active ahead of a Treasury bills auction. The debt office is offering Rs 180 billion of bills. The rupee has been appreciating in the face of negative private credit, as well as some inflows to bill markets.
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
