Business
HHL sells shareholding in Serendib Hotel to Eden Hotel Lanka for Rs. 791.7 million
By Hiran H.Senewiratne
In line with Hemas’ portfolio strategy of focusing on its core sectors – consumer, healthcare and mobility – Hemas Holdings PLC (HHL) divested itself of its shareholding in Serendib Hotel PLC to Eden Hotel Lanka PLC, a subsidiary of LOLC Holdings PLC, for a total consideration of Rs. 791.7 million, CSE sources said.
Serendib Hotels PLC is the majority shareholder of Dolphin Hotels, Hotel Sigiriya, Serendib Leisure Management Ltd, Frontier Capital Lanka (Pvt) Ltd and Sanctuary Resorts Lanka (Pvt) Ltd. HHL will continue to hold a few leisure sector assets, which includes its investment in Anantara Peacehaven Tangalle Resort.
According to stock market analysts, Hemas sold 42.8 million shares at Rs. 14.20 each, which was 25 percent lower than the previous day’s price per share. Its shares started trading at Rs. 18.90 per share, however, this transaction occurred when its share price was at Rs. 14.20. Further, the company also sold 19.3 million non voting shares at the share price of Rs. 9.60, market analysts said.
Amid those developments shares ended higher for a 15th straight session, buoyed by gains in consumer staples and healthcare stocks. However, due to slight profit taking the market dropped yesterday. All Share Price Index went down by 24.74 points and S and P SL20 rose by 26.12 points. The turnover stood at Rs. 2.53 billion with a single crossing. The crossing was reported in Dipped Products, which crossed 100,000 shares to the tune of Rs. 32 million, its shares traded at Rs. 320.
In the retail market top five companies that mainly contributed to the turnover were, Serendib Hotel Rs. 618 million (43.3 million shares traded), Browns Investments Rs. 261 million (70.5 million shares traded), Serendib Hotel (Non Voting) Rs. 191 million (19.8 million shares traded), Hemas Hotels Rs. 102.7 million (1.1 million shares traded) and Melstacorp Rs. 87 million (1.8 million shares traded). During the day 221 million share volumes changed hands in 19197 transactions.
The CSE recorded foreign investments, on a net basis, while foreign loans to the government increased in October 2020. When considering both the primary market and the secondary market, the CSE recorded a net inflow of $ 21 million in October 2020. This inflow was a result of a large inflow of $ 50 million to the primary market while the secondary market recorded a net outflow of $ 29 million during the month. The Sri Lankan rupee recorded a marginal appreciation of 0.7% during October 2020, despite some volatility demonstrated in the middle of the month. Overall, the rupee has recorded a depreciation of 2.4% against the US dollar so far during the year up to December 14.
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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