Business
Imtiaz Buhardeen crosses shareholder threshold
By Hiran H.Senewiratne
High net worth individual investor Imtiaz Buhardeen has increased his stake in Ambeon Holdings PLC to 10 per cent, becoming the second largest shareholder, CSE sources disclosed.
Buhardeen crossed the 10 per cent threshold on Friday when he picked up 4.6 million shares at an average price of Rs. 33.87. Consequently, Buhardeen-owned Almas Organisation Ltd. holds 32.6 million shares and subsidiary Carlines Holdings Ltd. owns a further 3.13 million, bringing the total to Rs. 35.75 million. As of March 31, Buhardeen held a 3.6 per cent stake. Buhardeen has stakes in also Amana Bank, Expolanka Holdings, Laugfs Gas & Power, Malwatte and Kahawatta Plantations, Renuka Holdings, Kalamazoo, Sierra Cables, Kelani Cables, SLT and Singhe Hospitals.
Ambeon Capital holds an 81.4 percent stake in GREG. Ambeon Capital is controlled by CHC Investment of Sanjiv Gardiner and ARRC Capital of Ajit Devasurendra. Ambeon Holdings closed at Rs. 37, up by Rs. 3.20 or 9.5 percent, with 3.6 million shares changing hands via 1,411 trades for Rs. 131.3 million.
Amid those developments, CSE activities were negative yesterday. During the early session the CSE witnessed a bullish run with fresh buying interest for Exoplanka and tile sector companies but in the second session it turned negative due to profit takings and speculation on a country-wide lockdown amid a surge in Covid-19 patients.
Both indices moved downwards. The All Share Price Index went down by 28.2 points and S and SL20 declined by 4.7 points. Turnover stood at Rs. 4.7 billion with two crossings. Those crossings were reported in Commercial Bank, which crossed 750,000 shares to the tune of Rs. 63.3 million, its shares traded at Rs. 84.50 and Royal Ceramic 500,000 shares crossed for 20.5 million, its shares traded at Rs. 41.
In the retail market, the topmost five companies that contributed to the turnover were; Expolanka Rs. 1.46 billion (17.3 million shares traded), Royal Ceramic Rs. 347.9 million (8.6 million shares traded), Ambeon Holdings Rs. 225.2 million (5.5 million shares traded), Lanka Tiles Rs. 176.2 million (2.7 million shares traded) and LOLC Holdings Rs. 166 million (343,000 shares traded). During the day 186.8 million share volumes changed hands in 40000 transactions.
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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