Business
George Steuart announces voluntary offer to buy HVA Foods shares
By Hiran H.Senewiratne
George Steuart announced a voluntary offer to purchase all the shares of HVA Foods PLC from its major shareholder HVA Lanka Export (Pvt) Limited at a share price of Rs. 3.50. The major shareholder company holds 61.1 percent and they are planning to divest 51.1 percent, which is equal to 40.6 million shares to the buyer, stock market analysts said.
However, yesterday an HVA share traded at Rs. 6.60. With the per share offer George Steuart will be enjoying an approximately 47 percent discount for the voluntary offer, stock market analysts said.
HVA Foods Plc is engaged in the processing, packing and export of teas. The company is also engaged in the development, manufacture and distribution of tea extract-based products, contract packing of teas and franchise operations of tea cafes.
CSE began the last month of 2020 on a positive note with healthy turnover sustaining the momentum seen in November. Therefore, the market was positive and almost all the shares of companies marginally gained yesterday, market analysts said.
It said high net worth and institutional investor participation was noted in Aitken Spence, JKH and Distilleries Company of Sri Lanka. Mixed interest was observed in Commercial Bank, Tokyo Cement Company non-voting and Browns Investments, while retail interest was noted in ACL Cables, Expolanka Holdings and Melstacorp.
Amid those developments both indices moved upwards. All Share Price Index was up by 28.38 points and S and P SL20 up by 14.35 points. The turnover stood at Rs. 2.26 billion with three crossings. Those crossings were reported in Ambeon Holdings (formally known as Greg) crossed five million shares to the tune of Rs. 97.5 million and its share traded at Rs. 19.50, Seylan Bank one million shares crossed for Rs. 45 million and its share traded at Rs. 45 and Distilleries 1.46 million shares crossed for Rs. 31 million and its share traded at Rs. 21.30.
In the retail market top five companies that mainly contributed to the turnover were Expolanka Rs. 177 million (6.6 million shares traded), JKH Rs. 166.5 million (12 million shares traded), Melstacorp Rs. 106.5 million (2.5 million shares traded), Browns Investment Rs. 98.6 million (37.5 million shares traded) and Royal Ceramic Rs. 70.7 million (450,000 shares traded). During the day 111.5 million share volumes changed hands in 22037 transactions
Sri Lanka rupee was quoted at 186.20/50 to the US dollar in the one-month-forwards on Wednesday while gilt yields remained unchanged in the overall market, dealers said. The rupee closed at 186.00/30 in the spot next to the US dollar on Monday.
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
