Business
LOLC and Expolanka drive bourse along bullish path
By Hiran H.Senewiratne
CSE trading activities initially yesterday were extremely bullish and were driven by two leading entities/counters, LOLC Group and Expolanka. The reason for the LOLC Group to perform well in the stock market was because LOLC (Ceylon) Ltd. that was established in 2018, announced a debenture issue for September 29 to raise Rs. 1 billion, stock market analysts said.
LOLC (Ceylon) Ltd. is planning to purchase all three finance companies under the LOLC Group to make them function as one entity in the future. Initially they will transfer 55 percent of LOLC Development Finance (NIFL) from LOLC Group. Part of the money raised from the debenture issue and the balance two companies, namely LOLC Finance Plc and Commercial Leasing Plc, will join the company in the future, market analysts added.
Meanwhile, E M L Consultants Limited commenced trading on the Empower Board of the CSE yesterday. The company listed 90,900,000 Ordinary Voting Shares and has been classified under the Industry Group “2020 – Commercial & Professional Services”. With the commencement of the very first day of trading its share price appreciated by 690 percent. Its shares started trading at Rs 2 and at the end of the day they shot up to Rs. 15.80.
Amid those developments both indices moved upwards. The All Share Price Index went up by 364 points and S and P SL20 rose by 79.6 points. Turnover stood at Rs 6.7 billion with four crossings. Those crossings were reported in JKH, which crossed 5.7 million shares to the tune of Rs 771 million and its shares were traded at Rs 136, Sampath Bank 3.6 million shares crossed for Rs 182 million, its shares traded at Rs 49.50, LMF 250,000 shares crossed for Rs 45 million with its shares fetching Rs. 180 and Nestle 16000 shares crossed for Rs 20.1 million, its shares fetching Rs. 1250.
In the retail market, five companies that mainly contributed to the turnover were; Expolanka Rs. 2.5 billion (13.5 million shares traded), Browns Investments Rs 653 million (67.6 million shares traded), LOLC Finance Rs 411 million (43.7 million shares traded), LOLC Holdings
Rs 402.9 million (730,000 shares traded) and Commercial Leasing Rs 204.4 million (7.5 million shares traded). During the day 202.7 million share volumes changed hands in 38000 transactions.
Asiri Hospitals have topped the league in the first-ever ranking of listed entities in Sri Lanka in an exercise for the year ended 31 March 2021, done by K Seeds Investments. All six listed hospital companies were assessed on Net Profit Margin, EBIT Margin, Return on Equity, Return on Assets Debt to Equity Ratio, Current Ratio, Revenue Growth and Net Profit Growth.
On that basis, Asiri Surgical Hospital has come on top, followed by Asiri Hospital Holdings, Ceylon Hospitals (Durdans), Nawaloka Hospitals, Lanka Hospitals, and Singhe Hospitals.
The current USD to LKR exchange rate is Rs. 200.04 per US dollar.
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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