Category: Industry
Why Sri Lanka’s plantation future demands a new investment outlook
By Shanaka Samaradiwakara, Chairman, Planters’ Association of Ceylon A tea bush planted today may take five years to produce a crop, a decade to generate meaningful returns and more than 20 years to repay the investment. Yet Sri Lanka’smregional plantation companies have only 19 years remaining on their leases. This is the contradiction at the […]
Hayleys Retail Holdings Ltd to launch & scale supermarket business on Blue Yonder Platform
Hayleys Retail Holdings Ltd, today announced that it has selected Blue Yonder to build its grocery retail operations from the ground up with AI and connected supply chain technology. Hayleys Retail plans to open a number of stores in the near future to bring reliable service and greater convenience to consumers across Sri Lanka. The […]
HIPG and Al-Futtaim Logistics explore closer cooperation to support Gulf vehicle supply chains
Hambantota International Port Group (HIPG) and Al-Futtaim Logistics have discussed opportunities to expand their existing business relationship, against a backdrop of Middle East shipping disruption that has highlighted Hambantota’s role as an alternative transhipment gateway for vehicles destined for Gulf markets. The discussions took place during a courtesy visit to Hambantota International Port (HIP) by […]
Strong Q2 lifts Hemas H1 revenue to Rs. 66.6 Bn, up 9.5%, with EBITDA returning to YoY growth
Hemas Holdings PLC delivered a strong second quarter, with revenue growing 17.0% YoY to Rs. 37.8 Bn in Q2 FY27 as all four sectors recorded growth, led by Hospitals (+19.3%) and Consumer Brands (+18.3%). EBITDA rebounded to Rs. 4.5 Bn, up 10.5% YoY and nearly double the first quarter. Group earnings more than doubled from […]
Sampath Bank & Mastercard collaborate to introduce two exclusive credit card variants for Chartered Professional Managers
From Left: Chirath Samarasekara, Head of Card Centre, Sampath Bank; Buddhika Amunugama, Director of Account Management, Mastercard; Mahesha Amarasuriya, Country Manager, Sri Lanka, Mastercard; Darshin Pathinayake, Chief Business Intelligence Officer, Sampath Bank; Prof. Lakshman R Watawala, Founder and President of CPM Sri Lanka; Dr. J A Ranga Jayakody, Governing Council Member, CPM Sri Lanka and […]
Fitch Upgrades Three Sri Lanka Bank-Owned NBFIs Following Parent Rating Upgrades; Outlooks Stable
Fitch Ratings has upgraded the National Long-Term Ratings of three Sri Lankan bank-supported non-bank financial institutions (NBFIs) following the upgrade of their parent banks’ ratings. — People’s Leasing and Finance PLC (PLC) has been upgraded to ‘AA-(lka)’ from ‘A(lka)’; Outlook Stable — Merchant Bank of Sri Lanka & Finance PLC (MBSL) has been upgraded to […]
Fitch Revises Sri Lanka Telecom to ‘AA+(lka)’ Following National Rating Scale Recalibration
Fitch Ratings has revised Sri Lanka Telecom PLC’s (SLT) National Long-Term Rating to ‘AA+(lka)’ from ‘AA-(lka)’ following the recalibration of the Sri Lankan National Rating scale. The Outlook is Stable. The recalibration reflects changes in the relative creditworthiness among Sri Lankan issuers following Fitch’s upgrade of Sri Lanka’s sovereign Long-Term Local-Currency Issuer Default Rating (IDR) […]
Fitch Upgrades Kotagala Plantations to ‘B-(lka)’; Outlook Stable
Fitch Ratings has upgraded Kotagala Plantations PLC’s National Long-Term Rating to ‘B-(lka)’, from ‘CCC(lka) and assigned a Stable Outlook. The upgrade factors in improving liquidity as Kotagala accessed new bank financing in the financial year ended March 2026 (FY26), and continued to deleverage by repaying debt. However, the company continues to face refinancing risk because […]
Sunshine Holdings records strong growth in 1HFY27 with revenue up 24.4-pct
Diversified Sri Lankan conglomerate Sunshine Holdings PLC (CSE: SUN) reported strong top-line and bottom-line growth during the six months ended 30 September 2026 (1HFY27), recording a consolidated revenue of Rs. 40.2 billion, an increase of 24.4% year-on-year (YoY). The Group’s profit after tax (PAT) increased by 44.3% YoY to Rs. 3.7 billion, supported by the […]
Fitch Takes Action on 8 Sri Lankan Banks’ National Ratings on Updated Scale After Sovereign Upgrade
Fitch Ratings has taken the following actions on the National Long-Term Ratings of eight Sri Lankan banks following recalibration of the agency’s Sri Lankan national rating scale in the wake of the recent sovereign rating upgrade: — Bank of Ceylon (BOC): National Long-Term Rating upgraded to ‘AA+(lka) from ‘AA-(lka)’; Outlook Stable — People’s Bank (Sri […]
Centrum Air to connect Uzbekistan and Sri Lanka with direct flights to Mattala
Royal Spence Aviation, a partner company of Aitken Spence Travels is all set to welcome a new gateway from Central Asia as Uzbekistan’s Centrum Air launches direct scheduled flights between Tashkent and Mattala Rajapaksa International Airport (MRIA), commencing 28th October 2026. Operating twice weekly, every Wednesday and Saturday, until the end of March 2027, this new […]
Esna Holidays acquires Mackinnons Travels from John Keells Holdings
Esna Holidays, a leading and well established name in the travel industry, has acquired Mackinnons Travels from John Keells Holdings PLC. With a history spanning 55 years, Mackinnons Travels is among Sri Lanka’s longest-established and most respected travel management companies, with a distinguished heritage in the country’s tourism and travel industry. Mackinnons Travels is […]