Business
Hotels going in for right issues in preparation for tourist season
By Hiran H. Senewiratne
A share right issue trend was noticeable among hotel sector counters at the CSE yesterday and on previous days aimed at generating equity for hotels to enable them to revamp their properties for the upcoming tourist season, market analysts said.
Yesterday, three hotels announced right issues. They were: Waskaduwa Beach Resort, Hikkaduwa Beach Resort and Citrus Leisure. In the right issue in Waskaduwa Beach Resort, every shareholder will get 35 ordinary shares for every 52 shares at Rs 1.80 per share. At Hikkaduwa Beach Resort, 19 ordinary shares will be given for every 21 shares at Rs 3.50 per share and at Citrus Leisure every 101 ordinary shares will get 143 new shares at Rs 4.20 per share. Citrus Leisure said it is seeking 1.5 billion rupees from shareholders through the rights issue.
However, the stock market was in a downward trend. All Share Price Index went down by 42.12 points while S and P SL20 declined by 15 points. Turnover stood at Rs 523 million without any crossings. In the retail market, the top seven companies that contributed to the turnover were; JKH Rs 139. 7 million (746,377 shares traded), Sunshine Holdings Rs 84.3 million (1.56 million shares traded), Sampath Bank Rs 38.4 million (548,500 shares traded), HNB Rs 19 million (114,680 shares traded), Associated Motor Finance Rs 18.8 million (831,031 shares traded), Commercial Bank Rs 11.4 million (132,183 shares traded) and Browns Investments Rs 11.3 million (2.4 million shares traded). During the day 23 million share volumes changed hands in 6700 transactions.
Yesterday the rupee opened at Rs 322.80/95 to the US dollar from Rs 322.50/70 the previous day, dealers said.
Bond yields were broadly stable. A bond maturing on 01.02.2026, was quoted at 13.80/95 percent from 13.80/90 percent. A bond maturing on 01.07.2028 was quoted at 14.25/30 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.”
