Business
Unisyst Engineering to de-list from CSE at exit offer price of Rs. 6 per share
By Hiran H.Senewiratne
Unisyst Engineering PLC, a subsidiary of the Hayleys Group, has announced it would be delisting from the CSE.
‘The Securities and Exchange Commission has granted their approval to delist the shares of Unisyst Engineering from the Official List of the CSE, at an exit offer price of Rs.6 per share, a CSE source said. The company said an offer letter will be sent to the shareholders shortly.
Formerly Alufab PLC, Unisyst Engineering is an aluminium supplier in Sri Lanka. The company’s revenue increased by 38 percent to Rs 784 million during the last financial year, according to sources: “Unisyst Engineering PLC will continue to leverage the strengths of its partnership with Hayleys Advantis as it seeks to drive increased penetration in selected customer segments, they said.
Amid those developments the CSE was volatile due to worries among investors over the on-going tension between Iran and Israel in the West Asian region because Iran is a leading buyer of Sri Lankan tea. Profit- takings were also notable in the market, market analysts said.
Both indices moved downwards. THe All Share Price Index went down by 26.9 points while S and P SL20 declined by 6.77 points. Turnover stood Rs 2.5 billion with five crossings. Those crossings were reported in Melstacope, which crossed 3.5 million shares to the tune of Rs 315 million; its shares traded at Rs 90, HNB 1.4 million shares crossed for Rs 285 million; its shares sold at Rs 200, Hayleys Fabrics 1 million shares crossed for Rs 41 million and its shares traded at Rs 41, Lanka IOC 200,000 shares crossed to the tune of Rs 25 million and its shares traded at Rs 125 and Vallibel One 396,000 shares crossed for Rs 21.5 million; its shares fetched Rs 54.30.
In the retail market top seven companies that mainly contributed to the turnover were; LOLC Finance Rs 162 million (27 million shares traded), Lanka IOC Rs 126 million (1 million shares traded), HNB Rs 122 million (606,000 shares traded), Ambeon Capital Rs 109 million (9.6 million shares traded), LOLC Holdings Rs 106 million (250,000 shares traded), Browns Investments Rs 86 million (15.1 million shares traded) and JKH Rs 85.5 million (424,000 shares traded). During the day 111.9 million share volumes changed hands in 17000 transactions.
Yesterday, the rupee opened at 298.40/60 to the US dollar in the spot forex market, from 298.50/55 on Wednesday, dealers said, while bond yields were steady. A bond maturing on 15.12.2026 was quoted stable at 11.30/35 percent. A bond maturing on 15.09.2027 was quoted stable at 11.90/12.00 percent. A bond maturing on 15.12.2028 was quoted at 12.10/18 percent, up from 12.10/15 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.”
US sports envoys to Lanka to champion youth development
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