Business
Purchase of 60 per cent of Pan Asia Power shares peps stock market
By Hiran H.Senewiratne
CSE activities were positive throughout yesterday due to a major transaction or crossing that occurred in Pan Asia Power Plc. This boosted CSE operations and served as an impetus to investors to invest in valued stocks, market analysts said.
Pan Asia Power divested 60 percent of its stakes held by three major shareholders which were purchased by a top businessman of the country, analysts said.
It is said that 385.5 million Pan Asia Power shares crossed to the tune of Rs. 1.60 billion. Main sellers were Jinadasa Brothers (sold 26 percent shares), Emerald Fund (20 percent) and Senthivel Holdings (14 percent). Each share was sold at Rs. 4.30.
Pan Asia Power is one of Sri Lanka’s leading suppliers of clean, renewable energy to the country’s national energy grid. Established with support from the Board of Investments in 2002, PAP has been in the forefront of a pioneering effort to transform the island’s energy generation mix onto a path of affordable, sustainable, and reliable energy for all Sri Lankans through the efficient operation of its three mini-hydro power plants. Our combined expertise has enabled PAP to surge ahead in the hydro-power sector and today we stand ever closer to our stated target of 30 MW of generation capacity by 2022, PAP sources were quoted saying.
Amid those developments both CSE indices were positive. All Share Price Index went up by 48.4 points and S and P SL20 rose by 25.12 points. Turnover stood at Rs. 3.45 billion with four crossings, including the Pan Asia Power transaction. Other three crossings were reported in HNB, which crossed 2.26 million shares to the tune of Rs 297.8 million, its shares traded at Rs 131.75, TJ Lanka 800,000 shares crossed for Rs. 31.6 million, its shares traded at Rs. 39.40 and HNB (Non Voting) 227,000 shares crossed for Rs 24.9 million and its shares fetched Rs. 110.
In the retail market top five companies that mainly contributed to the turnover were Expolanka Rs. 270.5 million (5.4 million shares traded), LOLC Rs. 129.5 million (316,000 shares traded), Hayleys Fabrics . 97.3 million (4.8 million shares traded) and JKH Rs. 75.1 million (553,000 shares traded). During the day the market was positive and major contributors for the All Share Price Index were Commercial Leasing, six points, LOLC six points and Expolanka five points.
Therefore, share prices appreciated overall. Commercial Leasing shares appreciated by 10 percent or 70 cent to Rs. 7.80, LOLC shares appreciated by 1.2 percent of Rs. 5 to Rs. 410 and Expolanka shares increased by 2.4 percent or Rs. 1.20 to Rs. 51. During the day 446.9 million share volumes changed hands in 17163 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.”
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
