Business
JKH in major business tie-up to launch casino in Colombo
By Hirna H.Senewiratne
JKH, which is a top company with high market capitalization in the CSE, said it is tying up with Melco Resorts and Entertainments Ltd. to run a casino at its billion dollar integrated resort in Colombo.
Melco will also invest US $125 million in equipping the gaming space, JKH said in a stock exchange filing. The JKH project, earlier named Cinnamon Life Integrated Resort, will be rebranded as ‘City of Dreams Sri Lanka’.
‘City of Dreams’ is a brand of Melco, which operates resorts in Macau, the Philippines and Cypress, JKH said. A wholly-owned Sri Lanka subsidiary of Melco has been awarded a 20-year casino license by the government.
Amid those developments the CSE did not perform well yesterday due to some profit- takings. Both indices moved downwards. The All Share Price Index went down by 9.27 points, while S and P SL20 declined by 8.56 points.
Turnover stood at Rs 3billion with seven crossings. Those crossings were reported in Hayleys, where 2.6 million shares crossed to the tune of Rs 242 million; its shares traded at Rs 94, Janashakthi Insurance 1 million shares crossed for Rs 53 million; its shares traded at Rs 53, Hayelys Fabrics 1.17 million shares crossed to the tune of Rs 48.8 million; its shares sold at Rs 41.50, NDB 450,000 shares crossed for Rs 35.7 million; its shares traded at Rs 79.50, Royal Ceramic 1 million shares crossed for Rs 34 and its shares traded at Rs 34, Vallible One 500,000 shares for Rs 21.5 million; its shares sold at Rs 43 and LB Finance 293,000 shares crossed for Rs 21.1million; its shares traded at Rs 72.
In the retail market top seven companies that mainly contributed to the turnover were; JKH Rs 243 million (1.15 million shares traded), Hayleys Rs 174 million (1.8 million shares traded), Royal Ceramic Rs 123 million (3.5 million shares traded), Central Finance Rs 111 million (886,000 shares traded), CIC Holdings (Non- Voting) Rs 107 million (1.7 million shares traded), Lanka IOC Rs 97.1 million (740,000 shares traded) and CIC Holdings (Voting ) Rs 90.6 million (1.1 million shares traded). During the day 272 million share volumes changed hands in 21200 transactions.
Yesterday, the rupee opened stronger at Rs 296.50/80 to the US dollar from 297.50/298.50 on Tuesday, dealers said. Bond yields were broadly steady, dealers added. A bond maturing on 15.12.2026 was quoted at 10.80/90 percent, up from 10.80/85 percent. A bond maturing on 15.09.2027 was quoted at 11.15/30 percent, up from 11.15/25 percent. A bond maturing on 15.03.2028 was quoted at 11.55/65 percent down from 11.55/70 percent. A bond maturing on 15.05.2030 was quoted at 12.20/25 percent from 12.10/20 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.”
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