## CEB Restructuring: Cabinet Approves Basic Transfer Plan ⚡
The Cabinet of Ministers has officially cleared the Basic Transfer Plan, a pivotal milestone in the formal restructuring of the Ceylon Electricity Board (CEB) under the Sri Lanka Electricity (Amendment) Act, No. 36 of 2024. • Core Transition: The plan facilitates the legal transfer of assets, liabilities, functions, and roles from the state utility to newly designated successor companies. • Operational Scope: Covers the transition of the three primary pillars of the power sector: Generation, Transmission, and Distribution. • Financial Readiness: Includes specific financial arrangements to ensure successor entities can begin operations immediately and efficiently. • Reform Objective: Aimed at modernizing the energy sector, enhancing operational transparency, and improving efficiency to support national economic stability. • Status: This approval marks the conclusion of the formal reform planning phase, with physical asset and responsibility transfers now set to commence.
📈 Aitken Spence Hotel Holdings to Raise Rs. 5 Bn via Debentures
The Board of Aitken Spence Hotel Holdings PLC has approved a plan to raise up to Rs. 5 billion through the issuance of listed, rated, unsecured senior redeemable debentures on the Colombo Stock Exchange. • Issue Structure: The capital raising will be conducted in two tranches. The initial tranche aims for Rs. 3 billion (30 million debentures at Rs. 100 each). • Upsize Option: An additional Rs. 2 billion (20 million debentures) may be issued in the event of oversubscription, bringing the total potential value to Rs. 5 billion. • Regulatory Status: The issue is subject to regulatory approvals; an application for listing on the CSE will be submitted shortly. • Market Terms: Specifics regarding tenure, coupon rates, and interest frequency are yet to be finalized and will be determined based on prevailing market conditions. This move underscores a strategic push for capital in the tourism and hospitality sector, a vital component of Sri Lanka’s foreign exchange earnings and service-led growth. _Note: Summary based on official company disclosure dated January 14, 2026._
BIA Currency Exchange Contracts Awarded for Rs. 3.8 Bn 📈
The Cabinet of Ministers has approved awarding three-year contracts to five operators for currency exchange services at the Bandaranaike International Airport (BIA) arrivals terminal. The competitive bidding process attracted total bids exceeding Rs. 3.8 Billion. • Selected Operators & Bid Values: Commercial Bank of Ceylon PLC: Rs. 972.77 Mn + taxes (Counter 4) Bank of Ceylon: Rs. 877.14 Mn + taxes (Counter 5) Thomas Cook Lanka Ltd: Rs. 720.79 Mn (Counter 6) Sampath Bank PLC: Rs. 646.64 Mn + taxes (Counter 7) People’s Bank: Rs. 631.31 Mn + taxes (Counter 8) • Context: The relocation and new bidding process were initiated following the redevelopment of the BIA arrivals terminal. Previous agreements were terminated by Airport and Aviation Services (Sri Lanka) Ltd after failing to reach a consensus on monthly fees for the new locations. • Economic Impact: This move involving major banking and foreign exchange entities aims to streamline services for international arrivals and reflects the high commercial value of the country’s primary gateway. _Note: Based on official Cabinet briefing data._
📈 BYD Retains World #1 Spot; Dominates SL EV Market
BYD has solidified its global leadership in New Energy Vehicles (NEVs), recording a historic 4.6 million unit sales in 2025. This momentum is strongly reflected in Sri Lanka following the lifting of vehicle import restrictions in February 2025. • Global Performance • Total NEV Sales: 4.60 Mn units in 2025. • Overseas Expansion: Surpassed 1.04 Mn units (up 145% YoY). • Markets: Over 110 countries; China remains the primary volume driver. • Sri Lanka Market Footprint • Leading the brand-new EV and PHEV segments locally. • Partnership: Represented by authorized distributor John Keells CG Auto (JKCG). • Model Range: 9 models launched including DOLPHIN, ATTO 3, SEAL, and the SHARK 6 hybrid pickup. • Premium Entry: Sri Lanka is the first South Asian market for BYD’s luxury sub-brand, DENZA (B5 and B8 models). • Infrastructure & Ecosystem • Network: 7 showrooms established in major hubs (Colombo, Kandy, Galle, etc.). • Charging Support: Over 21 charging points deployed nationwide to support the transition to sustainable mobility. Impact: BYD’s rapid local expansion, backed by the John Keells group, is positioning the brand as a key driver of Sri Lanka’s ICT/BPM-adjacent green tech shift and national energy transition.
Kerner Haus secures third management deal, lifts annual fees to Rs. 48.1 m 📈
Kerner Haus Global Solutions PLC has announced its third property management agreement, securing a commercial property in Slave Island, Colombo 02. The deal, effective 1 February 2026, marks a significant step in the company’s "asset-light" Phase 1 strategy to build recurring income. • Financial Impact: The new agreement is expected to generate an estimated Rs. 22 million in annual management fees. This brings the company’s total estimated annual fee income to Rs. 48.1 million. • Capacity Growth: The Slave Island property adds approximately 440 office seats, increasing the company's total managed capacity to 1,440 seats across three premium Colombo locations. • Strategic Focus: The facility will operate as a fully serviced office under the Kerner Haus brand, targeting the BPO, KPO, and international SME sectors. This model allows occupiers to avoid upfront capital expenditure by providing move-in-ready workspaces with integrated utilities, internet, and security. • Market Context: The property is situated within Colombo’s financial district, leveraging proximity to major banks and corporate offices. This follows a previous agreement in November 2025 for a property in Nawam Mawatha (300 seats). • Company Standing: Despite the growth in fee income, the company reported a negative net asset value of Rs. 72 per share as of September 2025. Shares closed at Rs. 648.25 (-Rs. 26). Ekta Global Ltd. remains the majority shareholder with a 63.62% stake.
Sanasa Life to Raise Rs. 500 Mn via Tier II Debenture Issue 📈
• Overall Figures: Sanasa Life Insurance PLC Board has approved the issuance of 5 million unlisted, rated, subordinated debentures at Rs. 100 each, aiming to raise Rs. 500 Mn. • Instrument Details: The five-year instrument offers an annual interest rate of 12.50%. It is a Tier II capital-boosting measure designed to strengthen the company’s financial position. • Lock-in Clause: Payments of interest and principal are strictly subject to maintaining the Capital Adequacy Ratio (CAR) above minimum regulatory solvency margins. If the CAR falls below limits, payments will be deferred and accumulated. • Default & Ratings: Default interest on principal is set at AWPLR + 0.5%. The issue will be rated by Lanka Rating Agency Ltd. • National Context: This capital raising comes while the company's long-term insurance license remains suspended by the IRCSL until 30 January 2026. Strengthening the capital base is a critical step for insurance providers to ensure policyholder protection and regulatory compliance. • Shareholding: As of late 2025, Senthilverl Holdings (19.10%) and Sanasa Federation (10.50%) remain the primary shareholders, with a net asset value per share of Rs. 22.61 recorded in Sept 2025.
📈 Unilever Exits Indonesia Tea Business in US$ 89 Mn Deal
Global FMCG giant Unilever is divesting its iconic Indonesian tea brand, SariWangi, to PT Savoria Kreasi Rasa (part of the Djarum Group) for IDR 1.5 Trillion (approx. US$ 89 Mn). The move, expected to conclude in H1 2026, marks the final phase of Unilever’s exit from the legacy tea sector following its 2022 sale of Ekaterra. • Financial Impact & Performance SariWangi, despite high local recognition, remains a non-core asset for Unilever Indonesia, contributing only 2.7% to revenue and 3.1% to net profit. The deal value represents roughly 45% of the subsidiary's total equity. • Strategic Restructuring The sale is part of an €800 Mn (US$ 860 Mn) global restructuring plan to focus on high-growth, high-margin segments including personal care, beauty, and home care. This follows the 2025 divestment of the Wall's ice cream brand. • Market Context The divestment reflects a broader trend of multinationals exiting mature, low-growth categories like loose and bag tea to streamline operations. While the global tea market remains mature, local conglomerates are increasingly acquiring these heritage brands to leverage deep-rooted domestic loyalty. _Note: Based on provisional data; transaction subject to customary closing conditions._
📈 CM Holdings Public Float Rises to 31.17% in Q4 2025
• Public Holding Expansion: CM Holdings PLC reported its public float increased to 31.17% as of 31 December 2025, up from 28.9% in the previous quarter. This 2.27% rise was driven by non-public shareholders offloading stakes in the market. • Shareholder Movements: Senthilverl Holdings strengthened its position as the second-largest shareholder, increasing its stake to 10.19% (15.48 Mn shares) after purchasing 1 Mn shares at Rs. 71.00 each in late October. Colombo Fort Land & Building PLC remains the top shareholder with a 63.49% stake. • Market Valuation: The stock closed at Rs. 59.10 on Friday. Notably, the company’s Net Asset Value (NAV) per share surged to Rs. 467 as of end-September 2025, more than doubling from Rs. 246 the previous year. • Institutional Context: The shift in shareholding structure and high NAV relative to market price reflects significant activity within the investment and holding sector of the Colombo Stock Exchange.
📈 CM Holdings Public Float Rises to 31.17% in Q4 2025
• Public Holding Expansion: CM Holdings PLC reported its public float increased to 31.17% as of 31 December 2025, up from 28.9% in the previous quarter. This 2.27% rise was driven by non-public shareholders offloading stakes in the market. • Shareholder Movements: Senthilverl Holdings strengthened its position as the second-largest shareholder, increasing its stake to 10.19% (15.48 Mn shares) after purchasing 1 Mn shares at Rs. 71.00 each in late October. Colombo Fort Land & Building PLC remains the top shareholder with a 63.49% stake. • Market Valuation: The stock closed at Rs. 59.10 on Friday. Notably, the company’s Net Asset Value (NAV) per share surged to Rs. 467 as of end-September 2025, more than doubling from Rs. 246 the previous year. • Institutional Context: The shift in shareholding structure and high NAV relative to market price reflects significant activity within the investment and holding sector of the Colombo Stock Exchange.
LRI Leads Rs. 4 Bn Acquisition of Lee Hedges PLC 📈
Lanka Realty Investments PLC (LRI) has announced a strategic acquisition of a 51% controlling stake in Lee Hedges PLC for approximately Rs. 4.0 Bn. The transaction marks a pivot from passive land holding to a yield-focused commercial real estate strategy. • Transaction Details: LRI acquired 13.06 Mn shares at Rs. 216 per share. This follows the successful monetization of non-core assets, including the sale of the Baseline Holdings land. • Financial Position: As of Q2 2026, Lee Hedges holds ~Rs. 1.76 Bn in cash and near-cash resources. The Group plans to use this liquidity to reduce interest-bearing liabilities and strengthen consolidated cash flows. • Strategic Impact: The move integrates high-quality, income-generating assets like Project 353 (Colombo 3) into LRI’s portfolio, enhancing recurring income and long-term financial resilience. • Operational Highlights: Existing assets like Unity Plaza are already showing improved yields; a recently launched large-scale LED facade at the site has introduced a new high-margin advertising revenue stream. The management expects the Group to operate on a cash-flow positive footing while optimizing asset yields through active management and strategic balance sheet de-leveraging.
✈️ Cathay Celebrates 80 Years of Global Aviation Operations
Cathay Group has officially launched its "80 Years Together" anniversary celebrations, marking eight decades of growth since its founding in 1946. The milestone highlights the airline’s evolution into a premier global carrier and its role in connecting international markets. • Key Anniversary Initiatives The airline unveiled a special aircraft livery on an Airbus A350, featuring the iconic "lettuce leaf sandwich" design. A second retro livery is scheduled for a Boeing 747 freighter in the coming weeks, emphasizing the carrier's dual focus on passenger and logistics/cargo operations. • Strategic Investment & Vision Cathay announced a massive investment of over HK$100 billion (approx. US$ 12.8 Bn) into its fleet, cabin products, lounges, and digital innovation. This capital expenditure aims to strengthen its status as a leading international aviation hub and enhance the travel & tourism experience. • Operational Highlights • Heritage Showcase: Between 1,000 and 2,000 cabin crew and ground staff will wear vintage uniforms throughout 2026 to celebrate the brand's service history. • Service Integration: The anniversary theme focuses on moving people and supplies globally, supporting international business and supply chain connectivity. • Product Expansion: Launching a curated collection of aviation-inspired lifestyle merchandise. Based on official 2026 anniversary launch data.
Cinnamon Air Reviews Lake Gregory Landing Incident 📈
Saffron Aviation Ltd (operator of Cinnamon Air) has launched an internal review following an operational incident involving its amphibian aircraft at Lake Gregory, Nuwara Eliya, on January 7, 2026. • Safety Status: The company confirms there were no passengers on board at the time. All crew members were safely rescued; no fatalities or major injuries were reported, though pilots were reportedly hospitalized for assessment. • Aviation Sector Impact: The incident involved a Cessna 208 Caravan Amphibian (4R-CAE). The Civil Aviation Authority of Sri Lanka (CAASL) has deployed an on-site team to conduct a formal investigation alongside the Sri Lanka Air Force and Navy. • Tourism Context: The aircraft was reportedly en route to pick up a group of tourists in Nuwara Eliya. This is the first such incident at Gregory Wewa since water-based domestic aviation operations began there several years ago. • Operational Track Record: Since commencing commercial operations in 2013, Cinnamon Air has safely transported over 80,000 passengers. The airline holds a valid Air Operator Certificate and emphasizes that safety remains its highest priority.
📈 SPMC Achieves Record-Breaking Drug Production in 2025
The Ministry of Health and Mass Media has reported a significant milestone for the State Pharmaceuticals Manufacturing Corporation (SPMC), marking 2025 as its most productive year to date. • Overall Production: The SPMC manufactured a record 3,625 million tablets and capsules throughout the year. • National Impact: This peak in production strengthens the pharmaceutical sector's contribution to domestic healthcare, supporting national efforts toward self-sufficiency in essential medicines and reducing reliance on imports. • Status: Based on official Ministry data for the 2025 calendar year.
Govt. Ends 25-Year Monopoly with New Vehicle Number Plate Contract 📈
The Cabinet of Ministers has approved a five-year contract awarded to South Asian Technologies Ltd. for the printing and supply of vehicle number plates. This strategic move aims to resolve a severe registration backlog and modernize a system that operated under a monopoly for over two decades. • Key Contract Details: Awarded for a duration of 5 years following a competitive bidding process involving four bidders. Implementation follows the 2025 lifting of vehicle import controls, which triggered a surge in registrations. • Economic Impact & Revenue: The transition aims to improve State revenue collection; previously, the Government did not receive revenue generated through plate sales. Cost Neutrality: Minister Dr. Nalinda Jayatissa confirmed there will be no additional cost to vehicle owners despite the system upgrade. • Operational Goals: Addresses the shortage that forced new vehicles to use temporary paper signs. Enhances transparency and efficiency within the transport and logistics infrastructure. The Government will enforce strict performance conditions to ensure system reliability and value for money.
## 📈 HNB Assurance Drives Momentum for "10 in 5" Strategy in 2026
HNB Assurance (HNBA) enters 2026 marking its 25th anniversary and the final phase of its strategic "10 in 5" journey, aiming for a 10% life insurance market share. • Strategic Focus: The 2026 theme "Reimagine. Reinvent. Redefine." focuses on digital transformation, innovation, and accelerated growth to secure a top-tier position in the insurance sector. • 2025 Performance Highlights: • Achieved growth consistently above the industry average. • Named Best Life Bancassurance Provider in Sri Lanka for the 5th consecutive year (Global Banking & Finance Review, UK). • Recognized as the Best Life Insurance Company at the Global Brand Awards 2025. • Operational & Cultural Excellence: • Ranked among the Top 40 Best Workplaces in Sri Lanka. • Awarded for Local Market Reach (Silver) and Insurance Sector excellence (Gold) at the National Business Excellence Awards. • Certified as a Best Workplace for Women and a mom-friendly workplace, emphasizing social sustainability and inclusive employment. • Outlook: HNBA aims to leverage its 2025 momentum to redefine customer experience and professional benchmarks while celebrating 25 years as a trusted partner in Sri Lanka’s financial services landscape.
📈 Durdens Hospital Proposes 4-for-1 Share Split
Ceylon Hospitals PLC (Durdens) has announced a board resolution to subdivide its ordinary shares to enhance market liquidity, based on provisional data. • Proposed Subdivision Details Each existing share will be split into four new shares for both voting and non-voting classes: • Voting Shares: Increase from 31.76 Mn to 127.05 Mn. • Non-Voting Shares: Increase from 10.13 Mn to 40.54 Mn. • Financial Impact & Status • Stated Capital: Unchanged at Rs. 1.78 Bn. • Net Assets per Share: Reported at Rs. 273.17 (as of Sept 30, 2025). • Approvals: Subject to Colombo Stock Exchange (CSE) concurrence and shareholder approval at an upcoming Extraordinary General Meeting (EGM). • Market Performance (Jan 6) • Voting (CHL.N): Closed at Rs. 269.75 (Down Rs. 1.00). • Non-Voting (CHL.X): Closed at Rs. 211.00 (Up Rs. 2.00). • Ownership Structure Durdens Management Services Ltd. remains the dominant shareholder (67.93% voting), while the Employees’ Provident Fund (EPF) holds a significant 11.39% stake in non-voting shares. Public holdings currently stand at 21.53% (voting) and 50.16% (non-voting). This move is a strategic step for the healthcare sector heavyweight to improve retail accessibility and trading volume on the CSE.
📈 Aeroform acquires 29.9% stake in EML Consultants for Rs. 116.1 Mn
• Aeroform Ltd. has purchased a 29.9% stake in EML Consultants PLC for a total of Rs. 116.1 million. • The acquisition involved 27 million shares, each bought at Rs. 4.30. • EML Consultants has a total of 90.9 million issued shares. • As of end-September 2025, EML Consultants reported a net asset value per share of Rs. 2.11. • Prior to this transaction, Avanthi Jayatilake was the top shareholder with a 51% stake.
🇵🇰 Pakistan Privatizes National Carrier for US$ 483 Million 📈
Pakistan has successfully privatized its national flag carrier, Pakistan International Airlines (PIA), selling a 75% stake to a consortium led by local investment firm Arif Habib. • The sale was finalized at PKR 135 billion (approximately US$ 483 million). • Arif Habib emerged as the top bidder, offering PKR 115 billion initially, surpassing Lucky Cement (PKR 105.5 billion) and Airblue (PKR 26.5 billion). • The government was initially offering a 75% stake, with the successful bidder having 90 days to purchase the remaining 25% shares. • Financial Commitments: • 92.5% of the 75% sale proceeds will be reinvested into PIA. • The remaining 7.5% will go to government coffers. • The investor is also required to inject an additional PKR 80 billion over the next five years.
📈 Vallibel Finance Shines: 1H FY25/26 PBT Jumps 50% to Rs. 2.7 Bn!
Vallibel Finance PLC reported strong first-half results for FY25/26, solidifying its position among Sri Lanka's top financial institutions. • Profitability Surge: • Profit Before Tax (PBT) soared by 50% YoY to Rs. 2.7 billion. • Net Interest Income grew 30% to Rs. 4.9 billion. • Profit After Tax (PAT) reached Rs. 2.6 billion, up from Rs. 2.1 billion last year. • Asset Quality & Growth: • Asset base expanded 28% to Rs. 143 billion (from Rs. 112 billion), driven by portfolio growth and prudent risk management. • Non-Performing Loans (NPLs) significantly improved, declining to 2.78% from 5.19%. • Return on Equity (ROE) rose to 21.77% (from 16.87%). • Strategic Expansion & Innovation: • The company continues its rapid expansion, becoming the fastest financial institution in Sri Lanka to surpass Rs. 100 billion in assets within 17 years. • Expanding branch network to 85, with Eastern Province completion by Dec 2025 and Northern Province planned for early next year. • Strong digital approach, offering fully-fledged solutions across major digital channels. • Consistently recognized as "Best Finance Company" by The Global Economic (UK).
📈 Kapruka Reports Strong Q2 FY26 Performance!
Kapruka Holdings PLC has announced encouraging results for the quarter ended 30 September 2025, marking two consecutive quarters of improved operating performance. • Revenue Growth: The Group saw a 12% year-on-year (YoY) increase in revenue. • Gross Profit: Gross profit rose by 19% YoY. • Operating Performance: Most notably, operating performance improved by a significant 77% YoY, driven by disciplined execution and platform transformation. Key Strategic Drivers: • Kapruka Partner Central: This initiative is accelerating Kapruka's shift from an inventory-led model to a scalable, asset-light platform by onboarding third-party sellers and brands. It expands into new niche categories without stock-holding costs, enhancing capital efficiency. • Services Platform: Under Partner Central, Kapruka is launching a services platform to allow online booking of everyday services, expanding its market beyond products. • Cross Border Initiative: Continues to gain traction as an e-distributor for Sri Lankan brands on global marketplaces like Amazon (US, Canada, UK), strengthening USD revenue streams and international reach. Chairman and CEO Dulith Herath highlighted that these results reflect the benefits of focus and a platform mindset, strengthening Kapruka's scalability for customers, partners, and shareholders. The company remains committed to building Sri Lanka's most trusted digital commerce ecosystem with Partner Central at its core.
📈 Lanka Thriposha Pays Rs. 100 Mn Dividend to Treasury Amidst Closure Rumours
• Lanka Thriposha Ltd. has paid a Rs. 100 million dividend to the General Treasury, showcasing its financial contribution. • The cheque was handed over by Thriposha Chairman Amal Attanayake to Finance and Planning Deputy Minister Dr. Anil Jayantha Fernando. • Deputy Minister Dr. Fernando dismissed recent rumours of the state-owned nutrition provider's closure, asserting its sustainable operation under current management. • He assured that Thriposha will continue its vital role in providing safe and reliable fortified food supplements to mothers and children, highlighting its importance as a public nutrition initiative.
📈 Softlogic Finance to Halve Stated Capital, Clear Rs. 7.6 Bn Loss!
• Softlogic Finance PLC plans to reduce its stated capital from over Rs. 9.93 billion to Rs. 2.33 billion. • This move aims to fully write off accumulated retained losses of over Rs. 7.6 billion as of 31 July 2025. • The Central Bank of Sri Lanka has already granted written approval for this financial restructuring. • This adjustment will not impact the number of issued shares, shareholder ownership, or voting rights, nor does it involve returning funds to shareholders. • The company expects this will strengthen its capital position and facilitate the resumption of dividend distributions once profitability improves. • Softlogic Finance recorded an after-tax profit of Rs. 7.38 million for the six months to end-September 2025, down from Rs. 37.9 million a year prior. • For the full year to end-March 2025, the company reported an after-tax profit of Rs. 145 million, marking its first profitable year since 2019.
🚨 Media Merger Wars Heat Up! 🚨
Paramount Skydance has launched a hostile US$ 108.4 billion bid for Warner Bros Discovery (WBD), challenging Netflix's recent US$ 72 billion deal for WBD's assets. • New Bid: Paramount's offer is a cash bid of $30 per share, aiming to create a media powerhouse and outcompete streaming giants. • Previous Deal: Netflix had secured WBD's TV, film studios, and streaming assets last Friday for US$ 72 billion in equity. • WBD Board Response: The Warner Bros Discovery board will review Paramount's offer but maintains its recommendation for the Netflix deal, advising shareholders "to take no action at this time." • Funding: Paramount's bid is financed by Affinity Partners (run by Jared Kushner) and Middle Eastern government funds, backstopped by the Ellison family. • Paramount's Argument: Claims its bid for the entirety of WBD is superior, offering shareholders US$ 18 billion more in cash and an easier path to regulatory approval, benefiting competition and the creative community.
🛒 SPAR Group Exits UK, Focuses on Core Markets & Growth 📈
South African retailer SPAR Group is negotiating the sale of its UK business (Appleby Westward unit) as part of a strategic shift to narrow its focus on core markets. • Strategic Focus: SPAR has exited Switzerland and Poland in the past two years and now aims to concentrate on Southern Africa, Ireland, and its small joint venture in Sri Lanka. • Expansion Plans: The group plans to grow its upper-end Gourmet banner, adding 4-5 new stores next financial year and targeting 100 outlets within five years. They also intend to expand into non-food categories like pet care, liquor, and building materials. • Financials (FY ended Sept 2025): • Diluted headline earnings per share (HEPS) from continuing operations fell 9% to 795.4 cents (vs 873.7 cents YoY). • Group revenue increased 1.6% to 132.4 billion rand (US$ 7.82 Bn), with the second half seeing a 3.5% rise. • Gross operating profit rose 2.3% to 2.8 billion rand, driven by strong performances in Southern Africa. • Challenges: Higher financing costs linked to legacy Poland debt impacted profitability.
📈 LCB Finance Sees Record Half-Year Growth! 🚀
LCB Finance PLC has reported stellar interim results for H1 FY2025/26, driven by strong portfolio expansion and cost management. • Profitability: Profit Before Tax (PBT) surged to Rs. 298.32 Mn for the six months ended 30 Sept 2025, a significant jump from Rs. 65.8 Mn in the same period last year. • Operational Efficiency: Cost-to-income ratio maintained at a lean 49%. • Balance Sheet Growth: Total assets reached nearly Rs. 10.4 Bn, up 12.19% since March 2025. • Shareholder Value: Net asset value per share rose to Rs. 4.02 from Rs. 3.95 in March 2025. Future Outlook: • Expansion: Plans to expand branch network to 25 branches. • Portfolio Diversification: Focus on lease and gold loan products, alongside aggressive marketing of deposit products. • Targeted Solutions: Eyeing the co-operative sector with tailored financial offerings. • Cost Management: Aiming to reduce funding costs via improved collections and operational efficiency. Management is confident in achieving the company's best-ever financial results by the end of FY2025/26.
📈 Acuity Knowledge Partners Rebrands to Acuity Analytics!
Acuity Knowledge Partners has officially rebranded to Acuity Analytics, marking its evolution into a global leader in insight, analytics, data, and AI-enabled solutions. • The rebrand reflects 23 years of growth, expanding beyond financial services into new industries and capabilities. • The firm now boasts over 7,200 specialists across 28 global locations, supporting 800+ clients with research, analytics, data, and operational solutions. • Enhanced capabilities include engineering, cloud, and digital services, strengthened by the integration of PPA Group (2024) and Ascent (2025). • Technology, especially AI, is now central, with their proprietary agentic AI platform, Agent Fleet, automating tasks while domain experts ensure high-quality, bespoke outputs. • CEO Robert King highlights the blend of exceptional people and advanced technology as the core of Acuity Analytics' strategy and future growth. This move positions Acuity Analytics to better serve evolving client needs with a "human in the loop" approach, combining specialist talent with modern technology.
🚨 Omnicom Cuts Over 4,000 Jobs & Folds Major Brands After $13Bn IPG Takeover
• Omnicom has announced it will lay off more than 4,000 employees following its US$ 13 billion acquisition of rival Interpublic Group (IPG), completed in November. • The cuts are primarily focused on administrative roles but also include some leadership positions. • This restructuring is projected to deliver annual cost savings that will surpass US$ 750 million. • Post-layoffs, approximately 85% of the company’s roles will be client-focused, with 15% administrative. • Major legacy ad brands will be consolidated: • Creative agency DDB and MullenLowe will be integrated into Omnicom’s TBWA. • IPG’s large global network FCB will be absorbed into BBDO. • The move reflects the broader advertising industry's push to regain momentum amid disruption from Artificial Intelligence (AI) and increased competition, with rivals like WPP also undertaking similar restructuring.
🏦 NTB Gets CBSL Nod for Major Retail Banking Acquisition
• Nations Trust Bank (NTB) has received approval from the Central Bank of Sri Lanka (CBSL) to acquire The Hongkong and Shanghai Banking Corporation (HSBC Sri Lanka)'s Retail Banking business. • This strategic move, following a binding Sale and Purchase Agreement signed in September, is expected to be completed in the first half of 2026. • The acquisition will add approximately 200,000 customer accounts to NTB, including premium banking clients, credit cards, and retail loans. • It significantly strengthens NTB’s leadership position in the premium retail banking segment, aligning with its long-term growth objectives. • Both banks are focused on ensuring a seamless transfer of services for customers during the transition process.
Cinnamon Hotels Resume Full Operations After Adverse Weather 🏨
• All Cinnamon Hotels & Resorts properties are now fully operational as of December 1st, 2025, following temporary operational disruption due to adverse weather linked to Cyclone Ditwah. • Resumption: Affected resorts—including Cinnamon Lodge Habarana, Habarana Village by Cinnamon, Cinnamon Citadel Kandy, Kandy Myst by Cinnamon, and Trinco Blu by Cinnamon—have fully resumed welcoming guests and are functioning normally. • Continuity: Guest safety protocols were upheld, and business continues uninterrupted across the entire Tourism/Hospitality portfolio. All bookings, arrivals, and planned activities are proceeding as scheduled. • Support: Cinnamon Hotels & Resorts, alongside the John Keells Group and John Keells Foundation, is actively assisting flood-affected communities as part of ongoing recovery efforts.
People's Bank Records Best-Ever 9M Profit 📈
• People's Bank (Solo) posted a record-breaking Profit Before Tax (PBT) of Rs. 43.7 Bn for the nine months ended Sep 2025. • Standalone Profit After Tax (PAT) also reached an all-time high of Rs. 28.8 Bn. • Core Earnings: Solo Operating Income saw a substantial 99.4% increase, reaching Rs. 121.9 Bn. • Net Interest Income nearly doubled to Rs. 103.9 Bn, improving Net Interest Margin to 4.0% (from 3.4% in Dec 2024). Net Fees and Commissions hit a 9M record of Rs. 12.2 Bn. • Balance Sheet: Total Solo Assets expanded to Rs. 3.6 Tn, Deposits to Rs. 3.2 Tn, and Net Loans to Rs. 1.6 Tn. • Capital Adequacy Ratio is strong at 16.0% (Total Capital), with the Rupee Liquidity Coverage Ratio at 287%. • The Group's consolidated PAT reached Rs. 30.5 Bn, with operating income growing 85% and consolidated assets at Rs. 3.9 Tn. • The bank is undergoing a strategic shift, increasing its focus on competing for private-sector business over traditional State-sector financing. • Digital platforms recorded 5.7 million onboardings by end-Sep 2025.
Kerner Haus Shifts to Asset-Light Strategy with Key Property Management Deal 📈
• Kerner Haus Global Solutions PLC has launched its asset-light growth strategy by signing a Property Management Agreement with VKM Services Ltd. for a prime property on Nawam Mawatha, Colombo 2. • The agreement marks the first phase in building a recurring fee income platform and is projected to generate Rs. 12.6 million in annual management fees. • The property, situated in Colombo’s financial district, offers capacity for approximately 300 office seats. It will operate as a fully serviced office centre under the Kerner Haus brand. • The central location is strategically positioned to attract tenants from the expanding Sri Lankan outsourcing sector, particularly BPO, KPO, and international SME clients seeking flexible office solutions. • This asset-light approach focuses on demonstrating operational capability before selective asset acquisitions. • The company's shares closed yesterday at Rs. 780.50, an increase from the previous closing price of Rs. 656. (Note: The company reported a negative net asset value of Rs. 72 as of end-September 2025).
📈 Richard Pieris Finance H1 2025/26: PBT Jumps >75% to Rs. 292 Mn
• Richard Pieris Finance Ltd. reported a strong H1 2025/26 (six months ended 30 September), reflecting a continued upward trajectory and disciplined operations. • Profit Before Taxes (PBT) reached Rs. 292 million, marking a significant growth of over 75% compared to the previous year. • Profit After Taxes (PAT) also saw robust growth of 47%. • Total Assets expanded by 20%, exceeding Rs. 20 billion, with the company setting a medium-term vision to reach Rs. 50 billion. • Growth was driven by improved core lending, disciplined cost management, and a vigilant risk-based credit approach. • The lending portfolio remains well-diversified, featuring vehicle leasing, gold loans, Islamic finance, and the new Sarumaga mortgage product focused on the SME sector. • Financial stability is reinforced by a stable 'A(lka)' credit rating with a Stable Outlook from Fitch Ratings.
📰 Cinnamon Grand Colombo Marks 20 Years Under Cinnamon Brand 🏨
• Cinnamon Grand Colombo is commemorating its 20th anniversary under the Cinnamon Hotels and Resorts brand (since 2005), solidifying its position as a classic leader in Sri Lanka’s competitive hospitality sector. • The hotel originally opened in 1975 as Hotel Lanka Oberoi and went through a Colombo Plaza era before its current transformation under John Keells Holdings. • Its core strength is offering high-end hospitality while preserving its "Sri Lankan soul," targeting high-spending leisure travellers and the city’s corporate elite. • The property serves as a cornerstone of Colombo’s event and business infrastructure, consistently hosting diplomatic, corporate, and marquee events. Its strong MICE (Meetings, Incentives, Conferences, and Exhibitions) portfolio is a key competitive advantage, highlighted by The Oak Room. • Beyond its service, the hotel is also home to the Cinnamon Hospitality Academy, which is working to redefine hospitality education in Sri Lanka.
Assetline Finance Sees Near 40% Asset Growth in 1H FY25/26 📈
• Overall Performance (1H ended 30 Sep 2025): Total Assets expanded to Rs. 72.71 Bn, representing nearly 40% growth during the first half of the financial year. • Lending & Income: The lending portfolio saw a remarkable 42% growth, reaching Rs. 60.63 Bn, driven by heightened credit demand across SME, micro-enterprise, and mobility-based segments. PBT reached Rs. 2.94 Bn, with PAT at Rs. 1.42 Bn. • Fiscal Contribution: The company contributed nearly 52% of its PBT toward government taxes during the period. • Asset Quality Improvement: Key metrics strengthened significantly year-on-year (YoY): • Gross Stage 3 Loan Ratio improved sharply to 4.0% (from 9.7% a year earlier). • Net Stage 3 Ratio improved to 1.8% (from 6.4%). • Stage 3 Impairment Coverage Ratio rose to 55.0% (from 37.9%), reflecting stronger provisioning. • Efficiency & Profitability: The Cost-to-Income Ratio improved to 39.8%, signaling enhanced operational efficiency. Return on Equity (ROE) stood at 17.1%. • Outlook: The company maintains an upgraded A rating with a Positive Outlook, affirming its strong capital position.
Drucker's Enduring Wisdom: Management in the Digital Age 💡
Peter Drucker's management philosophies remain critically relevant today, 20 years after his passing, focusing on the human elements amid technology. • Digital Relevance: Drucker asserted technology's true impact is on "how Man works," not just the tools, emphasizing a need for healthy balance between continuity and change. • The Human Imperative: His ideas strongly support “human augmentation” over simple automation, seeing knowledge workers as the 21st century's most valuable asset—a crucial insight for Sri Lanka’s ICT/BPM sector. • Key Quotes: His core principles are timeless: "Efficiency is doing things right; effectiveness is doing the right things" and "There are no good or bad institutions but well-managed or ill-managed institutions." • Visionary Concepts: Drucker pioneered decentralization (1940s), treating workers as assets (1950s), the corporation as a human community, and the importance of the customer. He was also the first to highlight the contribution of knowledge workers (1970s). • Self-Management: Drucker foresaw the "unprecedented change in the human condition" where growing numbers of people have choices and must learn to manage themselves. • Way Forward: Applying his wisdom requires appropriate adaptation to turbulence, stressing the need to "follow effective action with quiet reflection."
Fitch: BOC/PB Ratings Neutral to Small Bank Acquisitions 📈
• Fitch Ratings expects the proposed transfer of state holdings in HDFC and SMIB to BOC and People’s Bank (PB), respectively, will not affect the acquirers’ credit ratings. • This view is underpinned by the targets’ small scale—accounting for only 1%-1.5% of the acquirers’ bank-level assets—and the expectation of necessary capital support from the government. • HDFC and SMIB have relatively low risk densities due to large exposure to zero risk-weighted EPF-backed loans, limiting the incremental risk to the acquirers. • Fitch’s base-case is that the government will inject capital at least equal to the purchase price into BOC and PB to keep their capital ratios unaffected, consistent with past policy support. • Acquirers’ Context: BOC and PB's capital buffers are already constrained by large sovereign exposures, which attract capital deductions (4% for BOC, 2% for PB) compared to private peers. • The acquired banks (HDFC and SMIB) national ratings have been placed on Rating Watch Positive (RWP), reflecting the potential for high support from their new state owners.
📈 Lankem Ceylon Acquires Major Stake in York Arcade for Rs. 340.58 Mn
• Lankem Ceylon PLC has acquired a 49.27% stake in York Arcade Holdings PLC from its parent company, The Colombo Fort Land and Building PLC. • The total transaction value was Rs. 340.58 million. • The deal involved 369,495 ordinary voting shares, executed on the Colombo Stock Exchange at Rs. 921.75 per share. • Lankem stated the acquisition supports the Group’s ongoing financial restructuring and is part of a plan to strengthen its balance sheet and operational alignment. • York Arcade's closing price yesterday was Rs. 892.50, compared to the deal price of Rs. 921.75. • York Arcade reported a Net Asset Per Share of Rs. 304.21 as of end September 2025.
Lotus Renewables Sells 4.61% Stake in Hatton Plantations 📉
• Lotus Renewable Energy Ltd. offloaded 10.9 million shares (4.61% stake) in Hatton Plantations PLC. • The transaction was valued at Rs. 297.7 million. • Shares were sold at Rs. 27.30 each to Durga Infra Ltd. on 21 November 2025. • Prior to the sale, Lotus Renewables held a substantial majority stake of 76.65% (as of end September 2025). • Hatton Plantations (key sector: plantations/tea) closed the day prior at Rs. 28.10, down 40 cents from its previous close.
Cargills Bank: Strong Profit & Loan Growth in 9M 2025 🏦
• Profit After Tax (PAT) for the nine months ended Sept 30, 2025, reached Rs. 313 Mn, an increase of Rs. 155 Mn compared to the corresponding period in 2024. • Net Interest Income (NII) grew 10% (Rs. 244 Mn) to Rs. 2,743 Mn. This was supported by a robust 31% growth in the loan book, which expanded by Rs. 14.3 Bn to reach Rs. 60.4 Bn. • Total Assets grew 10% (Rs. 8.2 Bn) to Rs. 88.5 Bn. Customer Deposits increased 5% to Rs. 62.5 Bn. • Impairment Charges saw a significant decrease of 80% to Rs. 162 Mn, attributed to an improved macro-economic environment and effective recovery actions. The Stage 3 Loans (Net) ratio improved to 7.55% (from 8.74% in 2024). • Net Fee & Commission Income grew 10% (Rs. 60 Mn) to Rs. 682 Mn, driven by higher trade volumes, loan fees, and remittance income. • Total operating expenses increased 14% (to Rs. 2,761 Mn) due to branch expansion and staff costs, pushing the Cost-to-Income Ratio up to 70.31%. • The bank remains well capitalised and liquid, with the Total Capital Ratio at 17.08%.
NSB Group's 9M 2025 Performance: PBT Jumps 30% Amid Strong Asset Quality 📈
National Savings Bank Group (NSB) reported robust results for the nine months ended Sept 30, 2025, showing sharp improvements in profitability and asset quality. • Profitability Surge: Profit Before Tax (PBT) rose 30% YoY to Rs. 34.8 Bn, while Profit After Tax (PAT) surged 32% to Rs. 21.2 Bn. • Core Earnings: Net Interest Income (NII) increased by 16.8% to Rs. 64.4 Bn, driven by active liability management leading to a 15.8% reduction in interest expenses. Net Interest Margin (NIM) improved to 4.71%. Total Operating Income expanded by 18.4%. • Asset Quality & Capital: The Stage 3 impaired loan (NPL) ratio more than halved, falling sharply from 5.18% (end-2024) to a fortified 2.63%. The Total Capital Ratio stood strong at 23.89%, well above regulatory requirements. • Balance Sheet & Ratios: Total Assets grew 5.3% to Rs. 1.87 t. Customer deposits reached Rs. 1.59 t. Return on Equity (ROE) increased substantially to 24.67%. • National Role: NSB contributed over Rs. 24.1 Bn in taxes (financial services levies and income tax) to public finance, reinforcing its role as a key supporter of the State.
🚀 People’s Insurance Q3 2025: Strong Top-Line Outperforms Industry
• People’s Insurance PLC (PIPLC) reported impressive top-line growth of 33% for Q3 (9 months ended Sep 30, 2025), significantly exceeding the industry's overall growth rate of 15%. Quarter-on-quarter growth stands at 34%. • Growth was primarily driven by the core business segments: • Motor segment: Achieved a remarkable 43% YoY growth (vs. industry's 24%). • Non-Motor segment: Recorded strong 9% growth (vs. industry's 4.5%), contributing 24% to the total premium base. • Financial Stability: • Profit Before Tax (PBT) was Rs. 472.64 Mn (impacted by mandatory motor SRCC/TC cession to NITF and lower investment income). • Total assets increased by 10% to Rs. 13.95 Bn. • Shareholders’ equity expanded by 5% YoY to Rs. 5,944.89 Mn. • Total claim expenses amounted to Rs. 2.195 Bn for the period. • The company cites prudent underwriting, effective cost management, and strategic investments in sales expansion and technology as key factors for sustained stability.
United Motors (UML) Announces 10-for-1 Share Split 📈
• United Motors Lanka PLC (UML) Board has approved a major 10-for-1 share split, pending regulatory and shareholder approval. • Objective: The split is intended to significantly improve the market liquidity of the company’s stock. • Impact: Issued shares will increase tenfold, from 100.9 million (Mn) to 1.009 billion (Bn), while the stated capital will remain unchanged. • NAV Growth: Group Net Asset Value (NAV) per share was recorded at Rs. 147.52 as of end-September 2025, an increase from Rs. 135.21 six months prior. • Shareholding: RIL Property PLC holds the majority stake with 51%. • Market Close: The share closed Friday down Rs. 7.50 at Rs. 295.50.
CEB Sept. Qtr Profit Plummets 98% YoY 📉
• Ceylon Electricity Board (CEB) Q3 2025 Profit After Tax (PAT) fell dramatically by 98% YoY to Rs. 466.5 Mn, down from Rs. 29 Bn a year earlier. PAT also dropped 94% QoQ. • Nine-Month (9M) Financials: The utility has slipped into a net loss of Rs. 9 Billion for the nine months to end-September, a major reversal from the Rs. 152 Billion profit in the corresponding 2024 period. • Key Drivers: This collapse is attributed to eroding margins, with 9M Revenue falling 30% to Rs. 321.7 Bn while Cost of Sales rose 1%, resulting in a Gross Loss of Rs. 1.2 Bn. • SOE Impact: CEB was the single largest drag on overall State-Owned Enterprise profitability in H1 2025, recording a Rs. 13.2 Bn loss due to lower tariffs (20% cut in Jan) despite increased demand. • Sector Reform: Restructuring is proceeding with the unbundling of the utility. The IMF continues to urge the maintenance of cost-recovery tariffs and reform momentum to safeguard the electricity sector and prevent a return to losses that burden taxpayers.
🇱🇰 Banking: Fitch Places HDFC & SMIB on 'Rating Watch Positive' Following Acquisition Plan 📈
• Fitch Ratings has placed the National Ratings of Housing Development Finance Corporation (HDFC) ('BB+(lka)') and State Mortgage & Investment Bank (SMIB) ('BB(lka)') on Rating Watch Positive (RWP). • The RWP action follows the government's proposal for the transfer of all state-owned shares: • HDFC to Bank of Ceylon (BOC). • SMIB to People's Bank (PB). • Key Driver: The acquisitions are expected to result in a very high likelihood of support from the new, stronger parent banks, which Fitch will reflect via support-driven National Ratings. • HDFC Context: HDFC's rating was previously on a Negative Outlook due to regulatory restrictions on deposit mobilisation and selected lending, affecting its competitive position, particularly in the EPF-backed housing loan segment. • SMIB Context: SMIB's capital position remains below the regulatory minimum of LKR 7.5 Bn, with a shortfall estimated at LKR 2 Bn - 3 Bn (based on June 2025 financials). • Outlook: RWP is expected to be resolved upon completion of the transaction, which could lead to a multiple-notch upgrade for both banks, reflecting the financial strength of the new owners (BOC/PB).
📈 Bairaha Farms Schedules 1-for-5 Share Split: Key Dates Announced
• Bairaha Farms will proceed with a 1-for-5 share subdivision, pending shareholder approval at an Extraordinary General Meeting (EGM) on 17 December. • Key Dates: • EGM: 17 December. • Record Date for Shareholding: 19 December. • Trading Suspension: 18 December to 24 December. • Commencement of Subdivided Share Trading: 26 December. • Impact: The split will increase the number of issued ordinary shares five-fold, from 17.6 million to 88 million. • The company's stated capital will remain unchanged at Rs. 536.3 million. • The share closed at Rs. 450 yesterday, marking an increase of Rs. 1.25 from the previous close.
JXG Group Reports Solid 1H FY26 Profit & Strong Growth Across Financial Services 📈
• Group Financials (1H FY26): Consolidated Net Profit climbed to Rs. 3.4 Bn, marking a notable improvement from the previous year. Revenue surged to Rs. 15.8 Bn, up a robust 43.6% YoY. Total Assets grew 19.9% YoY to Rs. 193.5 Bn. • Key Subsidiary Performance (NPAT): • First Capital Holdings (Investment Banking): NPAT hit Rs. 3.4 Bn, significantly up from Rs. 897 Mn, driven by Primary and Corporate Dealing activity. • Janashakthi Insurance (Insurance): YTD Q3 NPAT was Rs. 2.8 Bn, more than triple the previous year. New business premiums recorded a robust 72% increase. • Janashakthi Finance (Finance & Leasing): Portfolio growth was strong at 48.7% YoY (to Rs. 26.7 Bn), while Net Operating Income grew 34.0% YoY. • Strategic Highlight: The performance reflects disciplined execution, leveraging strong capital market momentum and effectively expanding underwriting and leasing capabilities across the integrated financial services structure.
Softlogic Life Q3 2025: 29% GWP Growth & Historic Acquisition 📈
• Softlogic Life Insurance PLC reported a Gross Written Premium (GWP) of Rs. 28.2 Bn for the nine months ended Sep 30, 2025, marking a robust 29% year-on-year growth. • Financial Performance (9M 2025): Profit Before Tax (PBT) reached Rs. 3.3 Bn, with Profit After Tax (PAT) at Rs. 2.3 Bn. Total Assets stood at Rs. 59 Bn. The company recorded a strong Return on Equity (ROE) of 24%. • Claims & Protection: Rs. 13.5 Bn was disbursed in total claims and benefits. Rs. 9.5 Bn was for health and other protection covers, reinforcing its market leadership in health insurance (36% market share as at end 2024). Over 98% of claims were settled within a single day. • Strategic Landmark: The company completed the acquisition of 100% of Allianz Life Insurance Lanka. This is a historic first acquisition of one Life Insurance company by another in Sri Lanka. • Outperformance: Softlogic Life's 10-year GWP Compound Annual Growth Rate (CAGR) is 26%, significantly higher than the industry's 15% CAGR. It also won "AI Innovation of the Year" at the Asia Insurance Industry Awards (AIIA) 2025.
North East Monsoon Meet 2025 tees off at RCGC ⛳
• Sri Lanka’s oldest and most iconic golf course, the Royal Colombo Golf Club (RCGC), hosts the prestigious North East Monsoon Meet 2025, which began today (Nov 15). • The tournament features over 150 golfers and is sponsored by Dialog Enterprise, a key entity in the island's ICT/BPM sector. • Key competitions span two weekends (Nov 15, 16, 22, and 23), showcasing high-quality golf. • Major trophies up for grabs include: • The Clifford Cup (Best Nett Score over two rounds). • The Nandasena Perera Challenge Trophy (Best Gross Score over two rounds - Nov 15 & 22). • The Annual Gold Medal (Best Gross Score, first round). • The RCGC Centenary Trophy (Most consistent performer over four rounds).
🚨 Galle Literary Festival (GLF) Postpones 2026 Edition for Financial Restructuring
• The Galle Literary Festival (GLF) has announced the postponement of its 2026 edition to undertake a comprehensive review of its financing model and operations. • The organisers cited the need for a structural "refresh" to ensure a sustainable future, noting the current sponsorship model has faced funding challenges since the Festival's return in 2024, after operating on the same framework for nearly 20 years. • Since its founding in 2007, GLF has been key in establishing Galle as a premier destination for cultural tourism and creative arts. • The Festival aims to announce its full relaunch plans for the 2027 edition once the restructuring is complete. • Organisers hope to host smaller literary events and conversations throughout 2026 as an interim measure.
📈 Nations Trust Bank Posts Strong 9M Results: PAT Up 23%, Major Loan Growth
• Profit After Tax (PAT) for the 9 months to Sept 2025 reached LKR 14.9 Bn, a robust 23% increase YoY. • Customer lending recorded significant growth of LKR 131 Bn, up 45% YoY, driven by support for businesses and economic revival across segments. • Return on Equity (ROE) stood at a strong 23.20%. • Financial Strength: Capital base is robust with Tier I Capital at 18.90% and Total Capital Adequacy Ratio (CAR) at 20.03%, both well above regulatory minimums. • Asset quality remains high with a low Net Stage 3 Ratio of 1.03%. • Strategic Acquisition: NTB signed a Sale and Purchase Agreement to acquire HSBC's Retail Banking operations in Sri Lanka. This move is expected to be a catalyst for the next phase of growth (subject to regulatory approval, expected H1 2026 completion).
Hayleys H1 2025/26 Results: PBT Hits Rs. 13.33 Bn (+5% YoY) 📈
• Hayleys Group sustained strong growth in the first half of FY 2025/26, generating a Profit Before Tax (PBT) of Rs. 13.33 Bn, a 5% year-on-year increase. • Consolidated Revenue for H1 grew by 14% to Rs. 269.53 Bn, supported by both domestic and resilient export businesses. Revenue in Q2 alone rose by 13% to Rs. 138.89 Bn. • Profit After Tax (PAT) for the six months saw an 8% increase, reaching Rs. 7.56 Bn. • Key Sector Performance: • Growth was primarily driven by the Consumer & Retail Sector (leveraging brand strength and demand). • Export-oriented sectors, including Hand Protection and Purification, maintained momentum, contributing to a 6% revenue growth in this segment. • Strategic & Financial Highlights: • Q2 Net Finance Costs declined by 15% YoY, reflecting favourable market interest rate movements. • The Group expanded its strategic footprint, entering the mobility and supermarket sectors, and acquiring a substantial stake in Harischandra Mills PLC (FMCG). • Hayleys retained its ‘AAA (lka)’ National Long-Term Rating by Fitch and was ranked Sri Lanka’s leading listed corporate in the 32nd edition of the LMD 100.
Dialog Axiata's Strong Q3/YTD 2025 Performance 📈
Dialog Axiata Group reported robust consolidated financial results for the nine months ended Sept 30, 2025, driven by operational efficiencies and core business growth across Mobile, Fixed, and Digital Pay TV. • Total Revenue reached Rs133.1 Bn (+6% YTD). Core Revenue, excluding scaled-down low-margin wholesale operations, grew faster, up 18% YTD to Rs128.9 Bn. • Profitability surged: Group EBITDA hit Rs62.9 Bn (+40% YTD), with the margin improving by 11.3pp to 47.3%. Group Net Profit After Tax (NPAT) more than doubled (+>100%) to Rs14.9 Bn. • Operating Free Cash Flow (OFCF) saw strong growth, increasing 92% YTD to Rs37.1 Bn. • Contribution to State: The Group remained a major contributor, remitting Rs41.9 Bn to the Government of Sri Lanka (GoSL) YTD 2025. • Investment & Segments: Capital Expenditure on digital infrastructure was Rs14.2 Bn. Growth was evident in Dialog Television (+8% Rev YTD) and Dialog Broadband Networks (+15% EBITDA YTD). • Key Milestone: The full integration of Airtel was completed by July 2025. The company also expanded its 5G trial network to 15 districts, advancing the nation’s ICT/BPM digital transformation.
NITF Swings to Loss: Reinsurance Sector Weakens in 1H 2025 📉
The Central Bank's Financial Stability Review for 2025 indicates a sharp reversal in Sri Lanka's reinsurance sector performance during the first half of the year. • The National Insurance Trust Fund (NITF), the sole entity in the reinsurance segment, was the primary driver of this decline. • Profit Before Tax (PBT) Reversal: • NITF moved from a PBT of Rs. 1 Billion in 1H 2024 to a loss of Rs. 361.92 Million in 1H 2025. • Underwriting Shift: • The core underwriting operations mirrored the slump, deteriorating from a profit of Rs. 746.4 Million (1H 2024) to an underwriting loss of Rs. 538.3 Million by end-June 2025. • This stress in the reinsurance segment, which plays a critical role in absorbing large-scale industry risks, will be a key factor in assessing the overall stability of Sri Lanka’s insurance industry going forward.
BOC's 9M 2025 Profit Soars 📈
• Profit Before Tax (PBT) for the first nine months of 2025 hit Rs. 87.7 Bn, a remarkable 133% YoY increase from Rs. 37.6 Bn in 9M 2024. Profit After Tax (PAT) was Rs. 55.7 Bn. • National Contribution: The bank affirmed its role in fiscal stability by contributing Rs. 55.3 Bn in direct and indirect taxes during the period. • Financial Drivers: Net Interest Income (NII) grew 62% to Rs. 153.2 Bn, driven by strategic repricing and balance sheet management. Total Operating Income rose 61%, while the Cost-to-Income ratio improved to 32% due to effective cost management. • Balance Sheet & Stability: Total Assets reached Rs. 5.5 Tn (+11% YTD), and the deposit base grew 9% to Rs. 4.6 Tn, demonstrating strong customer confidence. Gross Loans and Advances stood at Rs. 2.5 Tn. • Risk & Capital: The Stage 3 loan ratio was 6.69%. Capital positions remain robust, with ratios comfortably exceeding Basel III requirements. • Strategic Focus: Key initiatives focused on Financial Inclusion and Digital Banking, including the launch of the BizPlus Credit Card for MSMEs, enhancement of the Smart Remit app, and expansion of the branch network, while 100 branches now run on solar power (4 MW capacity).
📈 Sampath Bank 9M 2025: Profit Up 21% on Strong Loan Growth & NFBI
Sampath Bank and Group have maintained strong growth momentum for the nine months ended September 30, 2025: • The Bank recorded a Profit After Tax (PAT) of Rs 21.5 Bn, and the Group PAT reached Rs 23.1 Bn, both reflecting a consistent 21% YoY growth. • Non-Fund Based Income (NFBI) was a key driver, surging 107% to Rs 23.9 Bn, bolstered by 20% growth in net fee/commission income and a turnaround exchange gain (Rs 3.5 Bn). • Net Interest Income (NII) contracted 6% to Rs 57.2 Bn due to a reduction in the Average Weighted Prime Lending Rate (AWPLR) and lower yields. • Asset Quality Improvement: Total Impairment Charge significantly dropped by 62% YoY to Rs 2.0 Bn, driven by improved credit quality across the customer base. • Balance Sheet: Total Assets grew 10% YTD to Rs 1.95 Tn. The Gross Loan Portfolio expanded substantially by 18.9% YTD, surpassing the Rs 1 Trillion milestone (Rs 1,147.0 Bn). • Deposits grew 11% YTD to Rs 1,606.8 Bn, with the CASA ratio improving slightly to 34.5%. • Operational costs increased 19%, leading to a deterioration in the Cost-to-Income Ratio (CIR) to 41.3% (from 38.9%). • The Bank was designated a D-SIB and won "Best Bank for ESG in Sri Lanka" at the Euromoney Awards 2025.
United Motors Group Posts 1,287% H1 Profit Surge 📈
United Motors Lanka PLC (UML) reported a robust performance for the six months ended 30 September 2025 (H1 FY2025/26), marking a sharp recovery driven by renewed consumer confidence and the lifting of the vehicle import ban. • Group Performance: • Profit After Tax (PAT) soared to Rs. 1.41 Billion, compared to a loss of Rs. 119 Million in the prior year—a remarkable 1,287% YoY increase. • Group Revenue climbed 303% YoY to Rs. 19.1 Billion. • Company Performance (UML PLC): • Company profit surged 1,271% YoY to Rs. 658 Million. • Company revenue grew 212% to Rs. 9.0 Billion. • Key Drivers & Momentum: • The growth was primarily fueled by a sharp rebound in vehicle sales and stronger aftersales operations. • Q2 showed accelerated growth, with Group profit rising 248% Quarter-on-Quarter to Rs. 1.09 Billion. • Strategic Note: • The recent acquisition of Dutch Lanka Trailers—which already exports to over 60 countries—is highlighted as a strategic investment set to be a significant growth engine for the Group going forward.
M&S Revamps Supply Chain to Boost Online Sales & Supplier Partnerships 📈
• UK retailer Marks & Spencer is overhauling its supply chain from "factory to floor" in a bid to double annual non-food online sales to nearly £3 Billion (approx. US$ 4 Bn) long-term. • The core strategy aims to increase online sales' share of its Fashion, Home & Beauty (FH&B) division from approximately 34% to 50% in the medium term. FH&B sales have already grown 9% over the last three years. • Impact on Sri Lanka: M&S, which sources products from key nations including China, Bangladesh, and Sri Lanka, plans to form more long-term partnerships with suppliers. This is intended to reduce risk, cut complexity, and unlock more margin from its scale. • The transformation includes a three-year £120 million investment in automation for warehouses and logistics, alongside £200m-£250m capital investment in technology infrastructure during 2025/26.
HNB Q3 2025: Group PAT up 47% YoY 📈, Asset Quality Improves
• Group Profit After Tax (PAT) reached Rs. 34.7 Bn, marking a strong 47% Year-on-Year (YoY) increase for the first nine months of 2025. • The Bank's PAT grew by 42% YoY to Rs. 31.5 Bn. • Group Asset Base surpassed Rs. 2.6 Trillion, reflecting 17.9% YTD growth. Net Loans & Advances increased by Rs. 287.7 Bn (Group level). Key Income & Quality Metrics: • Net Fee & Commission Income posted a strong 24.3% YoY growth. • Exchange Income showed a significant turnaround to Rs. 4.2 Bn (reversing a Rs. 2 Bn loss in 9M 2024), driven by increased foreign currency transactions. • Asset Quality improved significantly with the Net Stage 3 ratio falling to 1.36% (from 1.88% in Dec 2024). • The Bank recorded an Impairment reversal of Rs. 7.5 Bn, a major turnaround from the charge in the previous year. Strategic Focus: • HNB continues to focus on supporting MSMEs (Micro, Small and Medium Enterprises), which form the backbone of the economy. • Performance aligns with broader Sri Lankan economic recovery, noting moderating inflation and 4.8% GDP growth in H1 2025.
BOC boosts Digital Banking with New IT Subsidiary 📈
• Bank of Ceylon (BOC) has received Cabinet approval to establish a specialized IT institute named BOC IT Solutions Ltd. • Core Purpose: To significantly enhance the bank's digital capabilities, optimize IT operations, and drive its overall digital transformation initiatives. • The move is aimed at responding to evolving customer demands and maintaining competitiveness in the financial sector. • The new entity will be staffed with ICT/BPM professionals tasked with delivering advanced information and communication technology solutions. • The proposal was submitted by President Anura Kumara Dissanayake in his capacity as the Finance, Planning and Economic Development Minister. It effectively revives a former support services entity (operational 1992-2007) in a new, focused IT capacity.
Ambeon Holdings Sells Investment Subsidiary for Rs. 2.02 Bn 📈
• Ambeon Holdings PLC has announced the planned divestment of its wholly-owned subsidiary, Taprobane Capital Plus Ltd (TCP). • The shares of TCP will be acquired by the group's parent company, Ambeon Capital PLC. • Total consideration for the transaction is Rs. 2.02 Billion, which is based on an independent valuation. • TCP serves as the investment holding company for several group entities, including Ambeon Securities Ltd. and Taprobane Investments Ltd. • This move is part of Ambeon Holdings’ ongoing restructuring initiative, designed to consolidate and strengthen strategic alignment within the group's financial services vertical. • The transaction, approved on 11 November 2025, is expected to be completed within 30 days.
ComBank Posts Record 9-Month Profit & Strong Lending Momentum 📈
• Net Profit (PAT) for the Commercial Bank Group surged by an impressive 52.27% YoY to reach Rs. 48.02 Bn. for the nine months ended September 30, 2025. • Group Profit Before Tax (PBT) grew by 45.71% to Rs. 73.35 Bn. • Net Interest Income (NII) grew 16.30% to Rs. 103.48 Bn., benefiting from lower cost of funds and a static interest expense base. • Gross Loans reached Rs. 1.907 Tn., growing by Rs. 381 Bn. (25.01%) YTD, reflecting strong YoY growth of 34.60%. Q3 saw accelerated lending with a monthly average of Rs. 58.51 Bn. • Total Assets increased 12.40% YTD to Rs. 3.233 Tn., while Deposits grew 12.26% to Rs. 2.589 Tn. • Efficiency and Quality: • CASA Ratio improved to 39.92% (from 38.07% end 2024). • Impaired Loans (Stage 3) Ratio significantly improved to 1.79% (down from 4.08% a year ago). • Return on Equity (ROE) rose to 21.03%. • Impairment charges declined by 28.21% to Rs. 14.37 Bn., partly due to reduced SLISB provisioning.
📈 DFCC Bank to Acquire Standard Chartered's Retail & Wealth Business in Sri Lanka!
• Major Acquisition: DFCC Bank PLC has entered a binding agreement to acquire the entire wealth and retail banking business of Standard Chartered Bank (SCB) Sri Lanka. • Scope of Deal: The acquisition covers Priority Banking, credit cards, retail lending, deposits, and the crucial SME (Small and Medium Enterprises) segment. • DFCC Strategy: This move strengthens DFCC Bank’s retail and wealth management proposition, aiming to broaden its customer base and build scale in key growth segments. • Funding: The transaction will be entirely funded through DFCC Bank's internally generated capital. • SCB Focus: SCB's global strategy will see it concentrate resources solely on its Corporate and Investment Banking (C&IB) business in Sri Lanka going forward. • Staff & Customers: Both banks are committed to a seamless transition for all customers and SCB's wealth and retail staff, who will be offered comparable roles at DFCC. • Timeline: The deal requires approval from the Central Bank of Sri Lanka (CBSL) and is expected to be completed by early 2026.
DFCC Bank Posts Strong 9M FY25 Results, Driven by Credit Expansion 📈
DFCC Bank maintained robust performance for the first nine months of FY25, highlighting resilience and strategic growth: • Core Profitability: Group Profit After Tax (PAT) from continuing operations reached Rs. 8.53 Bn (up from Rs. 6.308 Bn in 9M FY24). • Total Profit: Bank PAT, including a one-off disposal gain from Acuity Partners, stood at Rs. 13.3 Bn. • Balance Sheet Growth: Total assets grew 20% to Rs. 853 Bn. • Loan & Deposit Growth: Loan portfolio expanded 26% to Rs. 495 Bn, while the deposit base increased 22% to Rs. 568 Bn, reflecting strategy to capitalise on easing rates. • Core Earnings: Net Interest Income (NII) rose 11% to Rs. 22.969 Bn. Net Fee and Commission Income surged 48% YoY to Rs. 5.281 Bn, driven by card and trade commissions. • Asset Quality: Stage 3 impaired loan ratio improved to 4.82% (from 5.65% in Dec 2024). • Strategic Initiative: Launched Sri Lanka's first Rs. 3 Bn Blue Bond initiative to finance ocean-positive SMEs and climate adaptation, reinforcing leadership in sustainable finance.
📈 LOLC Finance Roars in 1H 2025: PAT Jumps 72%
• Profit After Tax (PAT) surged to Rs. 14 billion for the six months ending 30 Sept 2025, marking a sharp 72% year-on-year growth (vs. Rs. 8.1 Bn in the previous year). • The strong earnings performance was underpinned by higher net interest income, effective cost management, and a significant reduction in impairment charges. • The Gross Lending Portfolio expanded by 18% to Rs. 360.2 billion, while Customer Deposits grew by 6% to Rs. 238.6 billion. • Total Assets rose 8% to Rs. 466.3 billion, demonstrating solid balance sheet growth. • LOLC Finance maintains a dominant position in the NBFI sector, accounting for 36.3% of industry profits and 20.6% of assets. • The company drives financial inclusion by empowering sectors like SME, agriculture, Personal finance, working capital, and vehicle financing, supported by its digitalisation and AI strategy. • Lanka Rating Agency has further solidified market strength by upgrading the entity rating to A+ (Stable).
🇱🇰 Major Restructuring for State Housing Finance Banks Approved 📈
• The Cabinet of Ministers has approved the restructuring of two State-affiliated housing finance institutions: the Housing Development Finance Corporation Bank (HDFC) and the State Mortgage and Investment Bank (SMIB). • The decision was prompted by Central Bank concerns over their unsustainable business models, weak profitability, limited capacity to raise deposits, and inability to meet minimum capital adequacy requirements. • Under the approved plan: • All Government shares of HDFC Bank will be transferred to Bank of Ceylon (BOC); HDFC will operate as a subsidiary of BOC. • All Government-owned shares of SMIB will be acquired by People's Bank; SMIB will operate as a subsidiary of People's Bank. • The move aims to strengthen the financial sustainability of the institutions, enhance their fund mobilisation ability, safeguard depositor interests, and support broader banking sector stability.
SDB Bank Q3 2025 Results Show Resilience & Asset Quality Improvement 📈
• Profit After Tax (PAT) stood at Rs. 254 million for Q3 2025, supported by strategic optimisation of yields and funding costs. • Balance Sheet & Growth: • Loans and advances to customers expanded by Rs. 9.7 billion on a Year-to-Date (YTD) basis, reflecting renewed credit growth across key sectors. • Total Assets contracted slightly by 1%, primarily due to short-term liability repayment and Rupee appreciation. • Asset Quality & Risk Management: • Asset quality improved as the Non-Performing Loan (NPL) balance declined. • Stage 3 Loan Coverage Ratio strengthened significantly to 52.28% (up from 47.78% in 2024), reflecting prudent provisioning. • Impairment charges declined by 11%. • Income & Efficiency: • Net Fee Income saw a robust increase of 33% Year-on-Year (YoY), underscoring success in diversifying income sources. • Overhead expenses increased modestly by 6% (YoY) due to targeted investments. • Stability: The bank comfortably exceeded regulatory requirements, maintaining a strong Total Capital Ratio of 14.90% and a Liquidity Coverage Ratio (LCR) of 148.65%. • Strategic Focus: The strategy of balancing growth with sustainability remains focused on empowering communities, supporting MSMEs, and strengthening the cooperative sector.
Ambeon Group Posts Rs. 4.55 Bn YTD Profit, Driven by Strategic Investments 📈
• Ambeon Capital PLC reported a robust 2Q PAT of Rs. 3.82 Bn, continuing its growth trajectory. • Year-to-date (YTD) Profit After Tax (PAT) surged to Rs. 4.55 Bn, a substantial improvement compared to Rs. 123 Mn recorded in the corresponding period last year. • The group’s principal subsidiary, Ambeon Holdings PLC, recorded a 2Q PAT of Rs. 3.22 Bn, with YTD revenue reaching Rs. 8.46 Bn. • Growth was primarily driven by fair value gains from strategic investments and enhanced operational efficiencies. Sectoral Performance (YTD PAT): • Financial Services (Taprobane Capital Plus) delivered Rs. 429 Mn. • Real Estate (Colombo City Holdings) recorded Rs. 320 Mn, supported by property value optimisation. • The Technology cluster (MillenniumIT ESP) faced industry headwinds; focus remains on long-term growth strategies. Strategic Expansion: • Ambeon Capital acquired a 51% equity stake in Mylands PLC, expanding its Real Estate footprint. • The Group collectively increased its holdings in Leisure/Tourism (The Kandy Hotels Co. PLC and Ceylon Hotels Corporation PLC). • Confidence in the banking industry was underscored by increasing the collective stake in DFCC Bank PLC to 9.91% and maintaining 9.93% in Seylan Bank PLC (Financial Services).
First Capital Holdings Achieves Record H1 Profit of Rs. 3.43 Bn 📈
First Capital Holdings PLC (FCH) reported a stellar financial performance for the six months ended September 30, 2025 (H1 2025/26): • Profit After Tax (PAT) soared to Rs. 3.43 Bn, a massive increase of ~282% compared to Rs. 897 Mn in the previous corresponding period. • Net Trading Income before OpEx reached Rs. 5.46 Bn (vs. Rs. 1.88 Bn last year), driven by favourable market conditions following moderate interest rate declines. Key Segment Contributions (PAT): • Corporate Finance Advisory & Corporate Dealing Securities: Contributed the highest segment PAT of Rs. 1.81 Bn (up sharply from Rs. 264 Mn). • Primary Dealer Division: Generated Rs. 1.57 Bn (vs. Rs. 578 Mn), boosted by a Rs. 1.81 Bn trading gain on Government Securities. • Stock Brokering: PAT jumped to Rs. 116 Mn (vs. Rs. 6 Mn), indicating renewed investor participation in the equity market. Other Highlights: • The Board declared an interim dividend of Rs. 7.00 per share (Rs. 2.84 Bn total). • The company's credit rating was upgraded to 'A+' from 'A' by LRA, reflecting strengthened financial health and market confidence.
📈 Janashakthi Life Q3 2025 Soars: 249% Profit Surge & Strong NBP Growth
• Janashakthi Life, the flagship brand of JXG Group, recorded exceptional performance in Q3 2025, surpassing industry benchmarks in the life insurance sector. • Profitability: Net Profit surged by a remarkable 249% year-on-year (YoY), reaching LKR 2.793 Billion as at the end of September 2025. • Business Growth: Regular New Business Premiums (NBP) recorded a strong 72% YoY increase, totaling LKR 1.227 Billion. • Financial Health & Commitment: • Total assets expanded to LKR 41.508 Billion. • Claim payouts amounted to LKR 2.603 Billion during the period. • The company's stability was underscored by the affirmation of its A- credit rating by Lanka Rating Agency. • Growth was driven by an enhanced focus on customer acquisition, product diversification, and expanding its distribution network.
hSenidBiz Q2 Sees 23% Revenue Jump & Major Margin Expansion 📈
hSenid Business Solutions PLC (ICT/BPM) reported robust performance for the second quarter of FY2026, marking substantial progress toward critical profitability milestones. • Financial Milestones: Total revenue reached LKR 516.9 million, reflecting strong 23% YoY growth in both LKR and USD constant currency terms. The Normalized EBITDA margin expanded significantly to 11%, more than quadrupling the 2.5% recorded in the previous quarter, positioning the company at the cusp of Normalized EBIT break-even. • Growth Drivers & Sustainability: The PeoplesHR Cloud segment was the main driver, achieving 34% YoY revenue growth (LKR terms). Recurring revenues contributed 72% of the total revenue base. New deal closures for the quarter surged by 48% YoY to US$ 381,931. • Global Reach & Innovation: The flagship PeoplesHR solution supports over 1,700 HR departments across 40 countries (South Asia, ME, Africa). The company is set to launch PeoplesHR X (Version 10), which introduces Lexi, an AI-powered capability suite designed to enhance customer experience and productivity.
CIC Holdings Posts Robust 1HFY26 Performance Driven by Key Sectors 📈
Diversified conglomerate CIC Holdings PLC reported strong top and bottom-line growth for the first half of FY26, underpinned by margin recovery and operational efficiency. • Financial Highlights (YoY Growth): • Consolidated Revenue reached Rs. 41.6 Billion (Bn), a solid increase of 7.2%. • Profit After Tax (PAT) rose to Rs. 3.25 Bn, marking an impressive growth of 14.7%. • Operating Profit (EBIT) strengthened to Rs. 5.7 Bn, recording 18.6% YoY growth. • Gross Profit margin stood at ~27%, with total gross profit rising 11.68% YoY to Rs. 11.2 Bn. • Sectoral Performance (Segmental Profit Growth): • Crop Solutions (largest contributor at ~40% of revenue) recorded a segmental profit of Rs. 2.11 Bn, up 16% YoY, despite cost pressures from a delayed Maha season. • Health & Personal Care delivered the sharpest profit growth, increasing 33% YoY to Rs. 1.30 Bn. • Livestock Solutions also showed significant growth, with segmental profit soaring 32% YoY to Rs. 1.16 Bn. • The Group's five core business sectors collectively generated Rs. 5.40 Bn in segmental operating profit (up 16% YoY), demonstrating broad-based resilience. • Balance Sheet: Total assets reached Rs. 98.6 Bn, positioning the Group close to the Rs. 100 Bn milestone. EPS improved 12% YoY (pre-split) to Rs. 6.86.
Strong 2Q Drives Hemas 1H Earnings Up 32.5% 📈
• Hemas Holdings PLC recorded strong 1H FY26 cumulative earnings of Rs. 3.3 b, marking a significant increase of 32.5% YoY. • 2Q earnings grew by 36.6% to Rs. 2.1 b, driven by robust revenue growth across all sectors and a sharp 78.9% reduction in net interest cost. • 1H Group Revenue reached Rs. 60.8 b, with Operating Profit up 10.7% to Rs. 5.6 b. A 25-cent first interim dividend was also declared. Strategic Highlights: • International expansion confirmed with a Conditional Share Sale and Purchase Agreement to acquire a leading consumer products company in Kenya (pending regulatory approvals). • Domestic growth focus: Expansion commenced at Thalawathugoda Hospital to evolve into a tertiary care institution, adding specialised services. Sector Performance (1H): • Consumer Brands earnings rose 25.7% (Rs. 2.3 b) on 10.9% revenue growth, supported by volume growth in SL (Beauty & Personal Care) and Bangladesh VAHO. • Healthcare earnings increased by 15.3% (Rs. 2.1 b) on 12.2% revenue growth (Rs. 37.7 b), driven by hospital service expansion and higher medical admissions/channelling. • Mobility revenue grew 18.7%, supported by higher maritime volumes (new China–India Express service) and increased aviation cargo/passenger numbers.
✈️ Qatar Airways Exits Cathay Pacific with US$ 897 Mn Share Sale
• Qatar Airways has sold its entire 9.7% holding in Cathay Pacific Airways for approximately US$ 897 million (HK$ 6.97 billion), completing its exit from the Hong Kong carrier. • Cathay Pacific bought back the stake at HK$ 10.8374 per share, a roughly 4% discount to the previous day’s closing price. • The sale represents a significant 35% premium on the price Qatar Airways paid when it acquired the holding in 2017. • Qatar Airways stated the divestment aligns with its "disciplined portfolio strategy" to optimise investments. • Cathay Pacific plans to fund the buyback using internal funds and credit lines, demonstrating confidence in its future. • The airline also announced plans to invest HK$ 100 billion over seven years for fleet upgrades and new cabin products. • Cathay Pacific's shares reacted positively, rising 4.8% following the announcement.
US Firm Asbury Carbons Acquires German Owner of Bogala Graphite 📈
• US-based Asbury Carbons Inc. has agreed to acquire Graphit Kropfmühl GmbH (GK) from AMG Critical Materials N.V. for an enterprise value of US$ 65 million. • GK holds the majority stake (approx. 86.46%) in Sri Lanka's key miner, Bogala Graphite Lanka PLC, and operates a graphite mine in Germany. • The deal, which covers all GK operations and ~350 employees, completes AMG’s exit from the natural graphite business to focus on core growth areas. • Market Reaction: Bogala Graphite Lanka PLC's share price on the CSE closed at Rs. 137 yesterday, surging by a sharp 25% (Rs. 27.25) following the announcement. • Asbury Carbons, a global leader in carbon solutions, aims to use the acquisition to strengthen supply chain security. The transaction is expected to close by year-end 2025.
HNBA Life Insurance Posts Sector-Leading 38% GWP Growth in 9M 2025 📈
• HNB Assurance (HNBA) recorded the highest Life Gross Written Premium (GWP) growth among Sri Lankan life insurers, surging 38% YoY to Rs. 13.74 Billion for the nine months ended Sep 30, 2025. • Total Group GWP (Life and General) reached Rs. 21.9 Bn, marking a 32% increase from the corresponding period last year. • Financial Strength: • Total Assets grew by 18% to Rs. 63.2 Bn. • The Life Fund expanded by a robust 24% to Rs. 47.4 Bn, signaling strong fund management. • Profit After Tax (PAT) rose 12% to Rs. 617 Mn. • Commitment: Net claims and benefits incurred to policyholders increased significantly by 54% to Rs. 3.25 Bn. • Drivers: The growth was attributed to strong performance in agency and bancassurance channels, complemented by new product offerings and improved policy persistency.
Freight 360 Marks 7 Years of Growth in Logistics 🚢
• Freight 360 Ltd. celebrated its 7th anniversary on 7 November 2025, marking seven years of growth, innovation, and excellence in the logistics and freight forwarding sector. • The company has rapidly evolved into a recognised provider by focusing on a customer-focused approach, leveraging cutting-edge technology, and delivering customised logistics solutions. • Manager Dananjaya Rathnayake attributed the success to the team's passion, hard work, and the trust of customers and partners, highlighting the company's foundation of collaboration and adaptability. • Freight 360 remains firmly committed to driving innovation and delivering logistics excellence for years to come.
🚀 Tesla Shareholders Back Musk's Record Pay Plan
• Tesla shareholders approved CEO Elon Musk's historical corporate pay package with over 75% support, a move the board said was crucial for retaining him. • The proposal could award Musk up to US$ 1 Trillion in stock over the next decade, with a potential net value of US$ 878 Billion. • The approval endorses Musk's vision to transform the EV maker into an AI and robotics powerhouse. The pay is tied to ambitious 10-year milestones, including boosting Tesla's stock valuation from US$ 1.5 Tn up to US$ 8.5 Tn. • Key operational goals for Musk include delivering 20 Million vehicles, operating 1 Million robotaxis, selling 1 Million humanoid robots, and achieving US$ 400 Billion in core profit. • Separately, shareholders also voted in favor of Tesla investing in Musk's artificial intelligence startup, xAI, despite some investor abstentions.
📈 Sarvodaya Development Finance Rating Upgraded to BBB- (Stable)
• Lanka Rating Agency (LRA) has upgraded Sarvodaya Development Finance (SDF) to BBB- (Stable Outlook) from BB+, reflecting notable improvements in financial performance and capital strength. • Portfolio Growth: The loan portfolio expanded significantly by +25.4% to Rs. 24 Billion in the first six months of FY26 (6M FY26). • Key Segments: Growth was driven by Micro, Small and Medium Enterprise (MSME), leasing, and gold loan segments. • Asset Quality & Capital: • Gross Non-Performing Loans (NPLs) improved to 6.0% (down from 7.9% in FY25), placing it below the industry average. • Capital Adequacy Ratio (CAR) is robust at 25.9%, well above regulatory requirements, following a Rs. 2 Billion Tier II debenture issue. • Financials: Profitability for 6M FY26 improved to approx. Rs. 340.5 Million, supported by stable spreads and lower funding costs. • Constraint: The rating remains constrained by the company’s modest market position, holding approximately 1.13% of total industry assets. Sustaining asset quality and enhancing relative market share are critical to maintaining the new rating.
Emirates Group Hits Record Half-Year Profit on Strong Global Travel Demand 📈
The Emirates Group has announced a new record financial performance for the first half of 2025-26, driven by sustained customer preference and expanding operations. • Group Total Performance: • Profit before tax reached an all-time high of AED 12.2 Bn (US$ 3.3 Bn), marking a strong 17% increase year-on-year (YoY). • Total Group revenue rose 4% to AED 75.4 Bn (US$ 20.6 Bn). • The Group’s cash position closed at a record AED 56.0 Bn (US$ 15.2 Bn). • Key Business Segments: • Emirates Airline maintained its position as the world’s most profitable airline for the period, posting a PBT of AED 11.4 Bn (US$ 3.1 Bn), up 17% YoY, on revenue up 6%. • Passenger traffic increased 4% (carrying 27.8 million passengers). • Emirates SkyCargo transported 1.25 million tonnes (up 4%), despite a 6% decrease in cargo yields. • dnata (ground handling, catering, and travel services) also delivered a record half-year, with PBT up 17% to US$ 230 Mn and revenue up 13% to US$ 3.2 Bn, with Airport Operations revenue growing 15%. • Operational Context: The performance reflects unflagging global demand, enabling the Group to grow its employee base by 3% to 124,927 and fund significant investments in fleet and services.
📈 Sunshine Holdings Delivers Robust 1HFY26 Performance with Strong Diversified Growth
Sunshine Holdings PLC (SUN) reported a strong financial half-year (1HFY26), driven by its diversified business model. • Consolidated Revenue: LKR 32.3 Bn, up 7.4% Year-on-Year (YoY). • Group Earnings Before Interest & Tax (EBIT): Rose 18.6% YoY to LKR 5.5 Bn; EBIT margin expanded to 17.0%. • Agribusiness was the top growth driver, with revenue surging 21.9% YoY to LKR 5.2 Bn. Growth was led by the palm oil segment (up 26.7%), sharply expanding the sector’s EBIT margin to 49.1%. • Healthcare remains the largest segment (53.7% of revenue), posting LKR 17.3 Bn, up 7.4% YoY, despite a 16.7% contraction in sector EBIT. Retail segment revenue increased 15.1%. • Consumer sector revenue increased 1.0% to LKR 9.8 Bn. Branded Tea and Confectionery businesses grew 5.1% YoY, offsetting a marginal 1.2% contraction in the Export business (impacted by U.S. tariff adjustments). • Group Gross Profit increased 12.9% YoY to LKR 10.3 Bn, primarily due to margin expansion in Agribusiness.
NDB Achieves 65% Profit Growth in First Nine Months 📈
• National Development Bank (NDB) delivered impressive profitability in 9M 2025, recording a 65% YoY growth in Profit After Tax (PAT) to reach an institutional high of Rs. 7.5 Bn (standalone basis). • Operating Income expanded by 32.3% to Rs. 28.4 Bn, and Pre-Tax Profit grew by 62.1% to Rs. 11.0 Bn. Net Fee & Commission Income saw a healthy 13.8% YoY increase. • On a normalised basis, Net Loans grew by 22.1% and Deposits by 7.2% over end 2024, reflecting growth in the core business. Total deposits reached Rs. 702.9 Bn. • Key operational improvements include a significant 46.7% YoY reduction in impairment charges. The Impaired Loans (Stage 3) ratio improved to 4.5% (down from 5.2% at end 2024). • The Bank's commitment to the SME sector was highlighted by a growth of over 24.0% in the SME loan book on a year-to-date basis. • Return on Average Equity (ROE) for the nine-month period was 12.4%, rising to 16.0% for the third quarter alone.
Pan Asia Bank Marks 30-Year Milestone with Commemorative Stamp 🇱🇰
• Pan Asia Bank officially launched a special edition commemorative postage stamp, in collaboration with the Department of Posts, to celebrate its 30th anniversary. • The stamp symbolises three decades of trusted service and reflects the Bank's deep-rooted presence and commitment to driving sustainable financial growth and contributing to Sri Lanka’s economic development. • Chairman Aravinda Perera stated the stamp is a tribute to the trust placed by customers, highlighting the Bank's journey from humble beginnings to a progressive, customer-focused institution. • Director/CEO Naleen Edirisinghe emphasised that the milestone represents the collective story of customers, employees, and partners, affirming a renewed purpose to continue innovating and serving with heart. • The Bank reaffirms its legacy of pioneering customer-centric financial solutions and supporting the country's economic progress over the past 30 years.
AIA Group Delivers Record Q3 with 25% VONB Growth 📈
• Value of New Business (VONB) soared 25% (at constant exchange rates) to US$ 1.48 Bn, marking a record for the third quarter. • VONB margin significantly increased by 5.7 percentage points to 58.2%, driven by a favorable product mix. • Annualised New Premiums (ANP) and Total Weighted Premium Income (TWPI) both grew 14%, reaching US$ 2.55 Bn and US$ 11.91 Bn, respectively. Distribution Performance: • The industry-leading Premier Agency channel (generating over 70% of VONB) saw 19% growth, supported by a strong 18% rise in new agent recruitment. • Fast-growing Partnership distribution achieved excellent 46% growth, led by IFA/broker and bancassurance businesses. Regional Strength: • Broad-based double-digit VONB growth was achieved across major regions, including Hong Kong, Mainland China, ASEAN, and India (11 of 18 markets overall). • ASEAN markets collectively delivered 15% higher VONB, supported by both distribution channels. • Tata AIA Life in India maintained its number one industry ranking in retail protection.
JKH Q2/H1 Earnings Soar: EBITDA Doubles to Rs. 18.36 Bn on Strong New Investment Push 📈
• Conglomerate John Keells Holdings PLC (JKH) reported an exceptional Q2 FY25/26 performance, driven by strong contributions across its diversified portfolio and the operationalizing of major new investments. • Q2 FY25/26 Financials: Group EBITDA more than doubled, surging 127% YoY to Rs. 18.36 Bn (from Rs. 8.09 Bn). Profit Before Tax (PBT) soared 243% to Rs. 7.8 Bn. Profit After Tax (PAT) climbed 176% to Rs. 4.2 Bn. • H1 FY25/26 Cumulative: Group EBITDA increased 98% YoY to Rs. 31.33 Bn. • Key Drivers & Outlook: City of Dreams Sri Lanka (CODSL): Achieved near EBITDA break-even in Q2 post-launch and is expected to provide a strong profit uplift in the second half (H2) as operations ramp up. Transportation Sector (WCT-1): The West Container Terminal exceeded throughput expectations and is projected to reach near PAT break-even for the full year, ahead of initial forecasts. John Keells Capital (JKCG): Recorded robust vehicle deliveries, supported by a healthy order pipeline of over 3,800 units. • Dividend & Strength: The Group doubled its interim dividend to Rs. 0.10 per share (total payout Rs. 1.77 Bn), reflecting confidence in sustained earnings momentum. JKH remains financially strong, with Net Debt to Equity at 32%, and expects further improved performance in H2.
🤝 Canadian Firm SolarIT Acquires Sri Lankan Digital Agency Tetris
• Canada-based IT consulting and tech services firm, SolarIT Solutions, has completed the acquisition of Tetris Ltd., a Sri Lankan digital experience agency. • Strategic Expansion: The move positions Tetris as SolarIT’s global digital experience arm, strengthening the Canadian firm's South Asian presence and expanding its capacity for digital transformation solutions. • ICT/BPM Sector Boost: The integration leverages combined teams in Canada and Sri Lanka, enabling seamless, round-the-clock service coverage and providing Tetris with expanded global resources and market exposure. • Tetris CVO, a Sri Lankan-born tech leader, noted the acquisition is a mission to "give back" by creating jobs, nurturing local ICT talent, and fostering growth in Sri Lanka. • Post-Acquisition Note: Tetris will sponsor the World Marketing Forum 2025 as the Official Web Solutions Partner.
📈 JAT Holdings Acquires NZ Wood Coatings Leader Mirotone
• JAT Holdings PLC has announced the landmark acquisition of Mirotone (NZ) Limited, New Zealand's top industrial wood coatings company and a globally respected brand with a 90-year heritage (established 1935). • This strategic move provides JAT with immediate market reach across Australia and New Zealand (Australasia), and establishes a platform for future expansion into Europe and the Americas. • Mirotone brings cutting-edge R&D capability, strong international distribution networks, and a portfolio of trusted, advanced wood finishing solutions. • The acquisition marks a pivotal shift for JAT, transforming the company from a regional leader (currently operating in South Asia and Africa) into a truly global coatings enterprise and a Sri Lankan multinational. • The goal is to accelerate global product development and establish JAT as one of the most dynamic coatings companies in the world.
📈 Sri Lanka SOE Profit Drops in 1H 2025, CEB Loss Offsets State Bank Gains
• Aggregate profit for 52 SOEs fell to Rs. 227.8 Bn in 1H 2025, down from Rs. 280.7 Bn in 1H 2024. • The decline was primarily due to the Ceylon Electricity Board (CEB), which swung from a Rs. 119.2 Bn profit (1H 2024) to a Rs. 13.2 Bn net loss (1H 2025) after steep electricity tariff reductions. • State Banks were the major bright spot, collectively boosting profits by Rs. 65.5 Bn. Bank of Ceylon's PBT surged to Rs. 61.1 Bn (up from Rs. 22.4 Bn), and People’s Bank reported its highest-ever half-year PBT of Rs. 28 Bn. • Other strong performances included the Sri Lanka Ports Authority (SLPA), with PBT rising to Rs. 29.2 Bn, and the National Water Board (NWSDB), up 28.3% to Rs. 17.7 Bn. • Ceylon Petroleum Corporation (CPC) profit declined 17.9% to Rs. 17 Bn, partly due to a stronger rupee and lower global prices. SriLankan Airlines reported a net loss of Rs. 10.7 Bn despite a rise in passenger volumes. • Reforms: The government is advancing structural changes, including the Cabinet approval of the Public Commercial Enterprises Bill and the restructuring of the CEB into four new entities for better governance and efficiency.
LTL Holdings Clarifies COPE Findings on CEB Links & Audits ⚖️
LTL Holdings Ltd. (LTLH) issued a Right of Reply addressing COPE findings regarding its ownership and audit practices linked to the Ceylon Electricity Board (CEB). • Audit Compliance: LTLH asserts it is not an "auditee entity" for the Auditor General (AG) under the National Audit Act. However, LTLH and subsidiaries are audited twice yearly by shareholder-appointed auditors, and the AG has the right to inquire through the CEB on any related matter. • Share Dilution: The reduction of CEB's shareholding (from 63% to 35%) via transfer to West Coast Power Ltd. was part of a Government-initiated CEB debt restructuring program, not an LTLH decision. West Coast Power is also majority government-controlled. • Employee Trust: The 10% Employee Trust (later Teckpro Investments) was a decision by the original shareholders (CEB and ABB, Norway) to solve a foreign regulatory issue. CEB employees were not entitled to, nor did they receive, shares or dividends from this entity. • Power Projects: LTLH subsidiary Lakdhanavi obtains all power plants (including renewables) projects through competitive bidding tenders within the CEB's approved Long-Term Generation Expansion Plan (LTGEP), consistently offering the lowest price. • CEO: The current CEO resigned from CEB in 1997 and held no LTL shares prior to joining LTLH. He subscribed to only one subsidiary share in 2000, denying any conflict of interest.
📈 Tea Broking Focus: Ceylon Tea Brokers Divests Logistics Arm
• Ceylon Tea Brokers PLC has signed a Share Sale and Purchase Agreement to sell its entire 100% stake in Logicare Ltd. to DP Logistics Ltd., a member of the David Pieris Group of Companies. • Deal Value: The transaction for the shares is valued at Rs. 635.3 million, based on an enterprise value of Rs. 1.3 Billion for the logistics subsidiary. • Strategic Rationale: This divestment allows Ceylon Tea Brokers to fully exit the integrated logistics and warehousing sector (Logicare), aligning with its strategic decision to focus on its core tea broking and related services business. • Buyer Context: DP Logistics, already a major player, strengthens its position in freight forwarding, warehousing, and supply chain management through this acquisition.
📈 Senthilverl Holdings Increases Stake in C M Holdings Above 10%
• Senthilverl Holdings Ltd. (SHL) has successfully raised its shareholding in C M Holdings PLC (CMH) to 10.19% of the issued capital (15.49 million shares). • Transaction Detail: SHL acquired 1 million shares on 30 October 2025 at a price of Rs. 71 each, totalling Rs. 71 million (Rs. 71 Mn). • Shareholder Status: SHL is now the second largest shareholder in CMH. The Colombo Fort Land and Building PLC remains the top shareholder with a significant 63.5% stake. • NAV Growth: CMH reported a Net Asset Value (NAV) per share of Rs. 467 as of end-September 2025, a substantial increase from Rs. 246 a year ago. • Market Close: CMH shares closed Friday at Rs. 70.90, down by 10 cents.
Eagle Logistics Marks 20 Years of Excellence & Talent Creation 👏
• Eagle Logistics celebrated its 20th anniversary on 24 October, marking two decades of growth and solidifying its position as a leading force in Sri Lanka’s logistics and supply chain industry. • Managing Director Asanga Weerackody emphasized that the company’s success is rooted in its people-centric purpose, going beyond typical metrics like profits and market share. • Current Strength: The company currently comprises over 300 team members. • Talent Pipeline: A significant 99% of the current staff are "home-grown," having begun their careers with Eagle as their first job. • Industry Contribution: Over the past 20 years, the company proudly reports having created more than 1,000 professionals for the wider freight forwarding and supply chain sector. • Eagle Logistics remains committed to nurturing people, fostering innovation, and delivering excellence across all aspects of its operations.
TMC Colombo Presents: 'The Way Forward' with Maliban Group CEO Ravi Jayawardana 🚀
• The Management Club (TMC) – Colombo Chapter is hosting a key knowledge-sharing session titled: "Strategic manoeuvring in tough times – Live or Lead!". • Key Speaker: Ravi Jayawardana, Group Chief Executive Officer of the Maliban Group (comprising Biscuits, Milk, and Agro). • Topic Focus: Navigating business challenges, leading with purpose, and strategically manoeuvring through uncertain times—offering real-world lessons on leading rather than merely surviving. • Venue & Date: Atrium Lobby, Cinnamon Grand Hotel, Colombo, on Thursday, 27 November, starting 6 p.m. • Session Format: A 40-minute address followed by an engaging Q&A and a networking session. • Participation Fee: Rs. 3,000 (Members) / Rs. 3,500 (Non-Members), inclusive of snacks.
📈 Janashakthi Finance H1 FY2026: Strong Financial Momentum & Portfolio Surge
Janashakthi Finance PLC (a JXG subsidiary) reported solid financial growth for the first half ended 30th September 2025, demonstrating strong progress in executing its strategic priorities. • The company recorded a Profit Before Tax (PBT) of LKR 241 Mn, marking a 22% year-on-year (YoY) increase. • Net Profit After Tax (NPAT) stood at LKR 141 Mn for the period. • Net Operating Income saw a significant surge, growing 34% YoY to reach LKR 1.43 Bn. • Core Portfolio Expansion: The Loans and Receivables portfolio grew substantially by 49% YoY to LKR 26.7 Bn, driven by renewed lending activity. • Deposits rose to LKR 16.9 Bn, reflecting a 17% increase and underlining growing customer and investor confidence. • Driver: The performance is attributed to disciplined portfolio expansion, enhanced operational efficiency, and a focus on core income generation, positioning the company as a key player in the sector.
Union Bank Delivers 52% PBT Growth for 9M 2025 📈
• Union Bank posted a strong Profit Before All Taxes (PBT) of LKR 1.18 Bn for the nine months ended Sept 2025, an impressive 52% increase compared to the previous year. • Profit After Tax (PAT) surged by an exceptional 194% to LKR 343 Mn. Key Income Drivers: • Gross Income rose 7% to LKR 13.20 Bn. • Net Interest Income (NII) grew a healthy 11% to LKR 3.98 Bn, supported by strong loan growth. • Net Fee & Commission Income saw outstanding 39% growth, driven by higher transactional volumes, digital utilization, and trade services. Balance Sheet & Strategy: • Total Assets expanded robustly by 17% to LKR 171.86 Bn. • Loans and Advances increased remarkably by 32% to LKR 107.59 Bn. • Customer Deposits grew 8% to LKR 111.90 Bn, reflecting rising customer confidence. • The financial sector institution maintained a stable NPL ratio, underscoring robust credit risk management. • The Bank plans to raise up to LKR 3 Bn through Tier II debentures to further reinforce its capital base and support future business expansion.
Fonterra Farmers Approve US$2.42 Bn Global Consumer Business Sale 📈
• New Zealand dairy producer Fonterra Co-operative Group's farmer shareholders have approved the NZ$4.22 billion (US$ 2.42 Bn) divestment of its global consumer and associated businesses to French major Lactalis. • The sale received strong support, with 88.5% of total farmer votes cast in favour. • Key brands included in the sale are Mainland, Anchor butter, Kapiti ice cream, and Anlene powdered milk supplement. • Crucially, the transaction also covers Fonterra’s Foodservice and Ingredients businesses in Oceania and Sri Lanka, along with its Middle East and Africa Foodservice operations. • The divestment is intended to simplify and provide a more focused core business for Fonterra. • Completion is expected to occur in the first half of 2026, pending final regulatory approvals.
PickMe 📈 Strongest Performance: Q2 Profit Surges 84%, Interim Dividend Up
Digital Mobility Solutions Lanka PLC (PickMe) reported record performance for Q2 and 1H FY2025/26: • Q2 (Jul-Sep '25) Highlights: • Revenue: Rs. 2.1 Bn, up 51% YoY. • Net Profit: Rs. 514 Mn, surging 84% YoY. • Platform movements grew 53% YoY and 23% QoQ (highest sequential growth since Q2 FY23/24). • Operating Profit climbed 86% YoY to Rs. 704 Mn. • 1H (Six-Month) Performance: • Revenue reached Rs. 3.9 Bn (+51% YoY). • Net Profit jumped 89% YoY to Rs. 950 Mn. • Gross Transaction Value (GTV) rose 45% YoY to Rs. 37.6 Bn. • Key Corporate Action: • Declared an interim dividend of Rs. 1.70 per share for FY25/26 (up from Rs. 1.00 previously), representing a 60% payout ratio. • Expanded platform ecosystem with new verticals: Courier (scheduled parcel delivery) and Events (ticketing).
WindForce Lowest Bidder for Key 50MW Wind Project ⚡️
• WindForce PLC has been identified as the lowest-cost bidder for Lot 1 of the 50MW Mullikulam Wind Power Project. • This marks a key milestone towards securing the contract for the large-scale renewable energy development in Sri Lanka. • The company described the outcome as price-sensitive information due to its potential impact on future operations and financial performance. • The formal contract award is still pending, subject to final procedures, regulatory clearances, and term negotiations. Further disclosures will follow the official contract execution.
Partial Stake Sale in Hatton Plantations PLC 📈
• Hatton Plantations PLC's parent company, Lotus Renewable Energy Ltd., sold a partial stake of 3.56% (over 8.4 million ordinary shares) to Durga Infra Ltd. • The transaction was valued at Rs. 247.9 million, executed at a price of Rs. 29.40 per share. • Post-divestment: Lotus Renewable Energy remains the top shareholder. Durga Infra is likely to become the third-highest shareholder in the plantation firm. • Context: The sale price of Rs. 29.40 per share is above the Net Asset Value per share of Rs. 21.64 reported as of 30 June 2025, signaling market interest in the tea and plantation sector asset.
⚠️ Colombo University Alumni Association AGM Postponed
• The Annual General Meeting (AGM) of the Alumni Association of the University of Colombo has been postponed. • The AGM was originally scheduled to take place today, October 30, 2025. • The change is due to unavoidable circumstances. • A new date for the meeting will be notified to members soon.
Pan Asia Bank: 30 Years of Financial Excellence Celebrated at CSE 🥳
• Pan Asia Bank commemorated its 30th Anniversary since establishment (1995) and the 20th Anniversary of its landmark listing (2005) with a ceremonial bell-ringing at the Colombo Stock Exchange (CSE). • The celebration honored the Bank’s three decades of innovation, resilience, and commitment to driving inclusive and sustainable financial growth across Sri Lanka. • Chairman stated the future focus remains clear: to continue building trust, creating value, and driving inclusive growth for generations to come. • Milestones highlighted include strategic island-wide expansion, industry-first digital innovations, recognition for ESG principles, and proactive initiatives like green financing solutions and SME empowerment programs. • CSE CEO acknowledged the Bank’s adherence to regulatory frameworks, emphasizing its role as a good corporate citizen maintaining high transparency standards.
⚡️ Vidullanka & David Pieris Lowest Bidders for 50MW Wind Project
• A consortium led by Vidullanka, together with its partner David Pieris Group, has emerged as the lowest-cost bidder for the 50-megawatt (MW) Mullikulam Wind Power Project. • This marks a significant step towards securing the contract for the large-scale renewable energy initiative and expands Vidullanka’s portfolio in the power sector. • The company's Board described the outcome as price-sensitive information, directly relevant to future operations and long-term financial prospects. • Status Update: The final award of the contract remains pending, subject to formal awarding procedures, regulatory approvals, and negotiation of final terms. Further announcements are expected upon contract execution.
Seylan Bank Q3 2025 Results: Strong Profit Growth & Asset Quality Improvement 🏦
• Profit After Tax (PAT) for the 9 months ended September 30, 2025, reached Rs. 8.3 Billion, recording a robust 26.30% YoY growth. Profit Before Tax (PBT) for Q3 2025 was Rs. 12.8 Bn (+20.75% YoY). • Asset Quality showed significant strength: • Impaired Loans (Stage 3) Ratio improved sharply to 1.48% (down from 2.10% in 2024). • Impairment Charge saw a massive reduction of 81.39% (Rs. 772 Mn vs Rs. 4.1 Bn YoY). • Stage 3 Provision Cover Ratio stands strong at 83.22%. • Income Breakdown: • Net Fee Based Income saw a growth of 15.99% (Rs. 5.8 Bn to Rs. 6.7 Bn), mainly from cards, remittances, and trade. • Net Interest Income saw a marginal decrease of 0.75% due to market interest rate repricing. • Balance Sheet & Capital: Total Assets increased to Rs. 853 Billion. Loans & Advances grew by a net Rs. 71 Bn to Rs. 534 Bn. The Total Capital Adequacy Ratio is robust at 18.34%. Return on Equity (ROE) stood at 15.08%.
SLICGL Reaffirmed as SL's Only A+ Rated Insurer 📈
• Fitch Ratings has reaffirmed Sri Lanka Insurance Corporation General Ltd. (SLICGL) with an 'A+(Ika)' National Insurer Financial Strength (IFS) Rating, maintaining a Stable Outlook. • Highest Rated: SLICGL holds the distinction of being Sri Lanka's only insurer with an A+ rating and the highest-rated insurance brand in the country. • Market Leadership: The rating validates the company’s strong financial profile and leading position, having held the No. 1 spot in the Sri Lankan general insurance market throughout 2024 (IRCSL data). • Capital Strength: Capitalisation remains strong, evidenced by a Risk-Based Capital (RBC) ratio of 277.3% at end-2024, significantly above the 120% regulatory minimum. • Growth Focus: Despite recent pressures, profitability is expected to strengthen through enhanced claims management and growth across key business lines, led by the motor portfolio, alongside expansion in fire and health segments. • Strategy: The separation of the general arm from the life insurance counterpart in 2024 positions the State-owned pioneer for more focused management and agility.
📈 Nawaloka Hospitals Returns to Profit, Boosted by AI & Growth
• Nawaloka Hospitals PLC achieved a strong financial turnaround for the FY ended March 31, 2025, reporting a Net Profit of Rs. 56 million. This reverses the Rs. 305 million loss recorded in the previous year. • Revenue for the Group increased by 6% to Rs. 11.0 billion, driven by growth in patient volumes and medical tourism. Gross Profit reached Rs. 5.8 Bn. • The positive results were attributed to tighter cost management, strategic investments in digital health, and increased demand for specialised healthcare services. • Investor Confidence: The share price more than doubled from Rs. 3.90 (Mar 2024) to Rs. 8.00 (Sep 2025), boosting market capitalisation to Rs. 11.3 Bn. • The Group marked its 40th Anniversary by pioneering innovation, notably launching South Asia's first AI-powered Radiology Centre. This earned Nawaloka recognition as the "Leading Hospital in AI & Innovation – Asia Pacific 2025." • Post-financial year end, a successful debt settlement with Hatton National Bank significantly strengthened the Group’s balance sheet and improved liquidity. 🏥
Tokyo Cement Q2 Results: Construction Rebounds, Revenue Up 18% 📈
Tokyo Cement Group reports sustained volume growth driven by a rebound in the construction and real estate sectors for Q2 (ending Sep 30, 2025). • Financials: Turnover rose to Rs. 16,322 Mn from Rs. 13,833 Mn YoY, marking an 18.0% increase. • Profit After Tax (PAT): Contracted by 7.3% to Rs. 1,003 Mn (down from Rs. 1,082 Mn YoY) due to contracted margins following the capitalisation of Trincomalee expansion projects. • Sector Highlights: September 2025 recorded the highest cement sales volumes since the 2022 economic crisis. This recovery is supported by lower interest rates, improved private sector credit, and fewer weather disruptions. • Macro-Outlook: Sri Lanka's economy grew an estimated 4.8% in H1 2025. The sovereign rating was upgraded by all three major agencies. Future growth is anticipated from government infrastructure (e.g., Central Expressway) and new multilateral lending agreements (WB/ADB) channeling investment into national construction activities.
📈 Senthilverl Holdings Becomes Top Shareholder in Serendib Land
• Major Acquisition: Senthilverl Holdings has acquired a significant 25.48% stake in Serendib Land PLC. • Transaction Details: The deal involved purchasing 101,643 shares from Finco Holdings Ltd. at a price of Rs. 1,500 per share. • Total Value: The transaction was valued at Rs. 152.46 million (Rs. 152.5 m) and was completed on 24 October. • Ownership Shift: The acquisition makes Senthilverl Holdings the new top shareholder in the company, taking over the position previously held by Finco Holdings (26.43% stake before the sale). • Valuation Note: The transfer price of Rs. 1,500 per share is below the company's un-audited Net Asset Value (NAV) of Rs. 1,797.83 per share reported as of 30 June. • Market Close: Serendib Land closed yesterday at Rs. 1,649.75 a share, registering a gain of Rs. 2.
📈 Advisor Recommends Rejecting Ambeon's Mandatory Offer for Myland Developments (MDL)
• HNB Investment Bank (HNBIB), acting as the independent adviser, recommended that Myland Developments PLC (MDL) shareholders REJECT the mandatory offer of Rs. 8.50 per share made by Ambeon Capital PLC. • The recommendation is based on the offer price being at a discount to most fair-value estimates: • Discounted Cash Flow (DCF) valuation yielded Rs. 9.57 per share. • Peer Price-to-Book Value (P/BV) suggested Rs. 12.74 per share. • The one-month Volume-Weighted Average Price (VWAP) was Rs. 18.86, more than double the offer. • The offer is, however, a 114% premium to the Net Asset Value (NAV) of Rs. 3.97 per share. • The mandatory offer, extended for the remaining 18.27% of MDL shares, matches the Rs. 8.50 price paid by the consortium for its initial 81.73% acquisition in September. • Under new management, MDL plans to accelerate land development & real estate projects, forecasting revenue to rise from Rs. 48.8 Mn (FY2025) to over Rs. 640 Mn by FY2029, with gross profit margins stabilizing near 32%. • MDL’s shares recently closed at Rs. 17.50.
UK Capital Metals Advances $155-235M Sri Lankan Mineral Sands Project 💎
• UK-listed Capital Metals PLC (CMET) is advancing the Taprobane Minerals Project in Sri Lanka's Eastern Province, which is ranked among the higher-grade mineral sands deposits globally. • Mineral Sands deposits include ilmenite, rutile, zircon, and garnet, vital for manufacturing and engineering industries. • Economic Impact: • Estimated Net Present Value (NPV) for the project is US$ 155-235 Million. • Expected to generate over US$ 150 Million in royalties and taxes for Sri Lanka. • Projected to create around 300 direct jobs upon commencement of production. • Local Investment: Ambeon Capital PLC invested Rs. 600 Million in May 2025 for an initial 14% stake. • Corporate Update: Capital Metals recently issued 638,029 new ordinary shares (valued at ~£ 18,254) to its financial adviser as commission related to its ongoing operations.
Overseas Realty Posts Strong 9M Results with Rs. 6.8 Bn PBT 📈
• Overseas Realty (Ceylon) PLC recorded a Group Profit Before Tax (PBT) of Rs. 6,809 million (Rs. 6.81 Bn) on a Group Revenue of Rs. 8,984 million (Rs. 8.98 Bn) for the nine months ending 30 September 2025. • The performance was supported by a net fair value gain from investment properties of Rs. 2,331 million, a substantial increase compared to Rs. 1,160 million in the previous year. • Key real estate segment performance: • World Trade Center, Colombo revenue increased by 7% YoY to Rs. 2,124 million, driven by higher occupancy and rental rates. • Havelock City's residential sales recorded revenue of Rs. 2,481 million (higher YoY). • Mireka Tower revenue saw a significant jump to Rs. 1,990 million (vs Rs. 812 Mn YoY) due to increased occupancy. • Havelock City Mall revenue rose to Rs. 1,538 million (vs Rs. 1,050 Mn YoY), also attributed to higher occupancy levels. • Financials noted a net exchange loss of Rs. 313 million, contrasting with a gain of Rs. 1,463 million in the corresponding period last year. • The group officially launched Mireka Seascape in Dodanduwa—a new luxury real estate development featuring 168 apartments and villas, targeting the premium beachfront residential and leisure markets. • Earnings Per Share (EPS) for the period stood at Rs. 5.20.
SLICGL Records Strong 9M 2025 Performance 📈
Sri Lanka Insurance General Ltd. (SLICGL) reports solid growth for the nine months ended 30 September 2025, driven by improved market conditions: • Gross Written Premium (GWP) reached Rs. 21,853 million, marking an 18% year-on-year growth. • Profit After Tax (PAT) stood at Rs. 2,614 million, reflecting a 17% YoY increase. • As a state-owned insurer, SLICGL made significant national contributions: • Invested Rs. 11.5 Bn in Government securities. • Paid Rs. 0.7 Bn in taxes. • Group strengthened the Treasury with a Rs. 1.5 Bn dividend payment (17% YoY increase). • Reaffirmed Stability: Achieved the highest rating awarded to any SL insurer: A+ (lka) National Insurer Financial Strength Rating from Fitch Ratings. • Named the No. 1 Most Valuable General Insurance Brand in Sri Lanka by Brand Finance 2025.
E.B. Creasy Announces Rs. 1.52 Bn Rights Issue 📈
E.B. Creasy & Company PLC has announced the schedule for its Rights Issue to raise Rs. 1.52 Bn. • Basis: 1 new share for every 10 shares held, priced at Rs. 60 each. This will result in the issuance of 25,354,580 shares. • Use of Proceeds: Rs. 1 Bn will be utilized to settle short-term interest-bearing borrowings. The remaining Rs. 500 Mn is earmarked for investment in subsidiary Darley Butler & Co. Ltd. • Key Dates: The Extraordinary General Meeting (EGM) is set for November 11, 2025. The Ex-Rights date is November 12, and the Record Date is November 13. The final date for acceptance and payment is December 9, 2025. • Financial Snapshot: The capital raising follows strong consolidated June 2025 quarterly earnings of Rs. 316.5 Mn, marking a 79% YoY increase. • Group-level short-term borrowings stood at Rs. 4.58 Bn at end-June 2025, while Net Asset Value per share rose to Rs. 31.12 (up from Rs. 24.82 in March 2025). • The share closed yesterday at Rs. 69.90.
SriLankan Airlines Earnings Reverses Sharply in FY 2024/25 📉
• The national carrier reported a significant earnings reversal for the year ending 31 March 2025, swinging from a Rs. 7.9 Bn profit (previous year) to a Rs. 2.73 Bn loss, a decline of ~134.6% YoY. • Total Revenue fell by 10.8% to Rs. 303 Bn. The net loss was driven by substantial costs including Rs. 31.6 Bn in net finance charges and Rs. 2.2 Bn for unscheduled engine repairs. • Sector Performance: • Passenger revenue declined 15% YoY to Rs. 234.5 Bn, primarily due to capacity limitations and the impact of Rupee appreciation. • Cargo revenue showed resilience, growing by 2% YoY, supported by dynamic pricing strategies. • Other revenues, mainly from ground handling and ancillary services provided to other carriers, grew strongly by 16% to Rs. 27.1 Bn. • Shareholder funds remain deeply negative at Rs. 379.5 Bn. • The airline has $211.57 million in outstanding International Bonds (including $175m capital). A debt restructuring plan is being negotiated with Bondholders, and the Commercial High Court has issued an enjoining order against a potential winding-up application.
📈 SLIC Life Q3 2025 Results Show Strong Growth: GWP +32%
Sri Lanka Insurance Life (SLIC Life) reported a strong performance for the nine months ending September 30, 2025, underscoring its resilience and market leadership. • Gross Written Premium (GWP) hit Rs. 23.6 Bn, marking a robust 32% Year-on-Year (YoY) increase. • New Business surged significantly by 61% to reach Rs. 5.4 Bn, reinforcing its top-tier position. • Profit Before Tax (PBT) grew 11% to Rs. 23.9 Bn. • Policyholder commitment was evident with claims and maturity settlements totaling Rs. 13.2 Bn, a 49% increase compared to the previous year, averaging Rs. 1.5 Bn monthly. • Financial stability is maintained with the largest Life Fund in the industry at Rs. 239 Bn and a total Asset Base of Rs. 264 Bn. • The company also declared a record Rs. 12.5 Bn in annual bonuses for 2024. • As a state-owned insurer, SLIC Life played a pivotal role in national contribution, paying Rs. 0.9 Bn in taxes and maintaining significant investments of Rs. 115 Bn in government securities. • The company holds the highest assigned rating among local life insurers, with Fitch Ratings affirming an 'A+(lka)' National Insurer Financial Strength (IFS) Rating and a Stable Outlook.
📈 Finco Buys 11% SDB Stake for Rs. 881.5m, Becomes Third Largest Shareholder
• Finco Holdings Ltd. has acquired a nearly 11% stake (over 17.98 million shares) in Sanasa Development Bank PLC (SDB). • The total deal value was Rs. 881.48 million, with the shares purchased from Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO) at Rs. 49.00 per share. • This transaction elevates Finco to the position of the third largest shareholder of SDB Bank, a key development in the financial sector. • Finco’s new stake is only behind LOLC Investment Holding (15%) and Senthilverl Holdings (12%). • SDB’s net asset value (NAV) per share was Rs. 89.80 as of end-June 2025, compared to the transaction price of Rs. 49.00.
India's RBL Bank Eyes Wealth Business After $3.05 Bn Emirates NBD Deal 📈
• Middle Eastern bank Emirates NBD is acquiring a 60% stake in India's RBL Bank for approximately US$ 3.05 Bn (₹268.53 Bn) through a preferential issue of shares. • This marks the largest cross-border acquisition in the Indian financial sector. • Post-investment, RBL Bank aims to establish a wealth management business and transition into a "large bank," according to CEO R Subramaniakumar. • RBL will become a listed subsidiary of Emirates NBD, with the merger effective from April. • The first funding installment is expected within five to seven months, while RBL's current management team will remain during the transition.
📈 DP Seals Rs. 2.57 Bn Deal for 40% of Harischandra Mills
• Prominent Sri Lankan businessman Dhammika Perera has completed the acquisition of a significant 40% stake in CSE-listed Harischandra Mills PLC, an established consumer goods and milling company. • The deal, confirmed this morning, saw Perera purchase 778,946 shares from Senthilverl Holdings (PVT) Ltd at a price of Rs. 3,300 each, valuing the transaction at approximately Rs. 2.57 billion. • This acquisition is Perera's fourth major deal in 2025, signaling continued aggressive expansion across diverse sectors. • Recent high-profile moves this year include: • September: Flagship Vallibel One PLC announced plans for a majority stake in Associated Motor Finance Company PLC (Finance). • July 8: Acquired a majority stake in East West Properties PLC (Real Estate) for Rs. 3.23 Bn.
Lanka Ashok Leyland (LAL) Sees Strong H1 2025 Growth 🚌
• Lanka Ashok Leyland PLC (JV between GoSL and Ashok Leyland Ltd.) has reported robust financial results for the first half of the financial year ending 30 September 2025. • Key Financial Figures: • Total Revenue reached Rs. 7.75 Bn. • Profit stood at Rs. 1.17 Bn. • This strong performance is credited to the company's robust partnership with the Government of Sri Lanka and local industry growth. • Strategic Focus: The company is committed to increasing local value addition through Vehicle Assembly and manufacturing, which aims to strengthen the domestic supply chain and generate employment opportunities. • Urban Transport Initiative: LAL is moving to relaunch 80 Ultra Low Floor AC buses for city operations. An attractive financial package is being structured to incentivize private operators to utilize these vehicles, supporting the government’s push to improve urban passenger transport.
🚢 Colombo Dockyard (DOCK) Moves Ahead with Rs. 13 Bn Rights Issue
• Colombo Dockyard PLC (DOCK) confirmed it will proceed with the Rights Issue (RI) after shareholder approval, aiming to raise Rs. 13 Billion. • Primary Goal: To strengthen the company's financial position and improve its working capital base, addressing severe financial constraints. • Strategic Tie-up: The RI is part of the deal to bring in India's Mazagon Ship Builders Ltd. as the controlling shareholder, following their US$ 53 Million investment agreement in June 2025. • Key Mechanic: Existing major shareholder, Onomichi Dockyard, will refrain from subscribing, allowing the resulting shares (323.37 million) to be allotted to Mazagon (subject to a Special Resolution). • RI Details: The issue will be on the basis of nine new shares for every two held, priced at Rs. 40 each.
World Elite Acquires Controlling 50.01% Stake in Gestetner 📈
• Hong Kong-based World Elite Ltd. has acquired a controlling 50.01% stake in Gestetner of Ceylon PLC through market trades. • Total Consideration: The acquisition cost Rs. 318.7 million (Rs. 318.7 Mn) for over 1.3 million ordinary shares. • Price: The shares were purchased at Rs. 239.75 per share. • Key Seller: The majority of the shares (1.2 million) were acquired from Gestetner (Eastern) Ltd. • Sector: Gestetner of Ceylon PLC operates in the office automation and document solutions sector. • Market Context: The purchase price (Rs. 239.75) is notably higher than the company's net asset per share of Rs. 212.60 reported at the end of June 2025.
Colombo Port Posts Rs. 32.2 Bn Profit YTD Aug. 2025 📈
• Key Figures: Post-tax profit for the first eight months of 2025 reached Rs. 32.2 billion. • Growth: This marks a sharp 71% rise compared to the Rs. 18.9 billion earned in the same period of 2024, significantly exceeding the projected target of Rs. 21 billion. • Drivers: The improved financial performance was primarily driven by higher operational efficiency and a 6% Year-on-Year growth in container handling. • Infrastructure: The completion of key projects, including the Eastern Terminal and the Jaya Container Terminal (JCT) expansion, along with tighter cost management, contributed to the surge. • Outlook: Earnings will be reinvested in strategic projects aimed at strengthening Colombo's position as a regional transshipment hub.
50 Years of Bairaha: Pioneering Sri Lanka's Poultry Industry 🐔
• Bairaha Farms PLC celebrates 50 years (1975-2025) of leadership, having transformed chicken from a luxury item to the nation's most accessible and affordable protein source. • Key Milestones: Founded in 1975, Bairaha was Sri Lanka’s first large-scale quality broiler chicken producer and has been recognized as one of the Best Companies in Asia Under a Billion by Forbes. It pioneered fully integrated operations, including establishing the first large-scale broiler parent breeder farm (1977) and a modern processing facility (1980). • Farmer Empowerment: A major impact was the introduction of the Contract Growing Scheme in 1985 (initially in Gampaha, Puttalam, and Kurunegala), which empowered rural farmers, created stable livelihoods, and boosted local agriculture through increased demand for feed inputs (e.g., maize). • Current Scale: The company now operates across 13 locations islandwide, supported by over 1,300 employees and hundreds of contract farmers. • Future Outlook: Management confirms the growth potential for Sri Lanka’s poultry industry remains strong in both domestic and export markets, with a commitment to maintaining trust, quality, affordability, innovation, and sustainability.
📈 Janashakthi Life secures A- Credit Rating amidst Strong Financial Growth
Lanka Rating Agency (LRA) has awarded Janashakthi Life an A- credit rating, confirming its robust governance, stability, and strong financial position in the insurance sector. • Q2 YTD 2025 Financial Performance: • Gross Written Premium (GWP): Increased 27% YoY to Rs. 3.77 Billion. • Net Profit: Surged 70% YoY to Rs. 1.32 Billion (up from Rs. 777 Million). • First-Year Premiums: Recorded significant 61% YoY growth. • Regular Long-Term Business: Rose by 32%. • Market Position & Stability: • Total Assets climbed to Rs. 40 Billion by end-June 2025. • Outpaced the industry as the fastest-growing insurer in Q1 2025 with 49% GWP growth. • Risk-based Capital Adequacy Ratio and investment yields consistently exceed industry benchmarks, highlighting strong risk management and organic capital generation. • The company aims to achieve an industry-leading expense ratio within the next 2–3 quarters, reinforcing operational efficiency.