Company filings and market news from across Sri Lanka's stock market.
John Keells Group marked the International Day for the Elimination of Violence Against Women on 25 Nov through its Project WAVE campaign, reaffirming zero-tolerance workplace policies; Project WAVE has impacted over 4.9 million people since its 2014 launch.
Cinnamon Hotels & Resorts will open Kandy Myst by Cinnamon in early 2025, a 215-room hotel in Kandy (management partnership with Indra Traders). The property, billed as the largest inventory in Kandy, aims to boost the city’s tourism offering and local economic activity.
Colombo market rose as the ASPI gained 0.84% (111 pts) to 13,340 with turnover of Rs.3.22bn and foreign net buying of Rs.85.3m. Top contributors included LOLC, CFIN, RCL, HNB and DIPD, while Agarapatana (+0.20 to Rs.9) and ACL Cables (+2.70 to Rs.98.50) saw notable activity.
CG Corp Global renewed its commitment to Sri Lanka and said it will expand investments, noting it is the largest shareholder in Union Bank of Colombo. The group plans further expansion in hospitality, financial services, e-mobility and is exploring renewable energy, real estate and cement.
Colombo Stock Exchange closed lower with the ASPI down 1.44% (187.62 pts) to 12,866 and the S&P SL20 down 1.98% to 3,794 on turnover of Rs2.1bn and net foreign outflows of Rs142mn. Top negative contributors included John Keells Hotels, Hatton National Bank, Commercial Bank and Melstacorp, with banks driving significant turnover.
Colombo Stock Exchange fell as the ASPI closed down 0.95% (125.63 pts) at 13,105 and the S&P SL20 down 1.66% to 3,914 amid profit-taking; turnover was Rs6 billion led by capital goods. Top negative contributors included KHL.N0000, HNB.N0000, SAMP.N0000, COMB.N0000 and NDB.N0000.
Gem Sri Lanka 2025 will run 7–10 January at Cinnamon Bentota Beach to connect international buyers with Sri Lankan gem traders and boost the gem and tourism sectors. Organisers also unveiled the GSLFAIR app to streamline buyer-seller connections.
Sri Lanka hosted a national pavilion at the World Trade Expo 2024 in Mumbai to promote trade and tourism, where companies showcased value-added cinnamon, coconut, cocoa products, dehydrated fruits and Ceylon tea and established business contacts for future collaboration.
Cinnamon Grand Colombo hosted its annual Christmas cake mixing ceremony on 18 October, with Cinnamon Hotels & Resorts CEO Mikael Svensson and hotel management participating to mark the start of the festive season.
The Sri Lanka Convention Bureau held a MICE Tourism training on 15 Oct at Habarana Village by Cinnamon to position the Cultural Triangle as a MICE hub, with 30+ hoteliers from 18 hotels attending. Speakers included Aitken Spence representatives and digital marketing experts (Meta, Google) and participants developed MICE event concepts.
SLITHM and SLCB Chairman Dheera Hettiarachchi criticised holding World Tourism Day 2024 nearly a month late and urged future celebrations be timely, more inclusive and held across different destinations rather than only in Colombo. He said future events should align with the government's people, planet and profit policy.
Cinnamon Grand Colombo will host the Santapaws Xmas Bazaar on Dec 1 with over 40 stalls and a ‘Runway to Fashion’ charity show to raise funds for Rescue Animals Sri Lanka, with complimentary stalls allocated for other charities.
John Keells Hotels (Cinnamon Grand Colombo) will host the Santapaws Xmas bazaar and a 'Runway to Fashion' charity event, with the bazaar taking place on 1 December featuring over 40 stalls to raise funds for Rescue Animals Sri Lanka.
John Keells Group launched Cinnamon Life at City of Dreams Sri Lanka, a $1.2bn development opening today with 687 rooms and event venues, and a 113-key Nuwa hotel due mid-2025. The Group expects the full project to generate over 20,000 direct and indirect jobs.
John Keells Holdings (JKH) will open Cinnamon Life at City of Dreams Sri Lanka, a 687-room luxury hotel developed at over USD 1.2bn, on 15 October 2024. The wider City of Dreams complex (including a mall, gaming areas and a 113-room Nuwa opening mid-2025) is expected to create significant tourism activity and jobs.
Cinnamon Air will operate two daily flights from 1 Nov 2024 linking Kandy and Sigiriya with Koggala and Hambantota until 30 Apr 2025, cutting cross-country travel times to 40–50 minutes and targeting winter foreign tourist demand.
Seylan Bank partnered with Cinnamon Hotels & Resorts (John Keells Hotels PLC) to host the two-day ‘Gathering of the Giants’ for Seylan cardholders, featuring safaris, a documentary premiere and expert conservation talks; the event was well received and aimed to boost tourism and conservation awareness.
Dilani Hewage of Cinnamon Wild Yala (part of Cinnamon Hotels & Resorts) won Best Assistant Housekeeper of Asia at the 2024 Asian Housekeeper Awards. The award recognizes her excellence in cleanliness and operational efficiency, reflecting positively on the resort's service standards.
Cinnamon Wild Yala assistant housekeeper Dilani Hewage won the Best Assistant Housekeeper of Asia title at the 2024 Asian Housekeeper Awards. Cinnamon Hotels & Resorts said the accolade reflects its high standards of cleanliness and service quality.
Dialog Axiata (DIAL.N0000) partnered with Cinnamon Hotels to offer Dialog Club Vision members tiered discounts of up to 20% on food, beverages and wellness services. The offer covers multiple Cinnamon outlets (Cinnamon Grand, Cinnamon Lakeside, Cinnamon Red) and wellness services at Nija Wellness.
Race Across Sri Lanka concluded on 24–25 Aug with 50 cyclists completing a 333 km Colombo-to-Arugam Bay route that showcased Ella and Arugam Bay as tourist destinations. The event included international riders and named John Keells CG Auto Ltd as Green Auto Partner.
Millennium Toastmasters Club held its 25th installation at Cinnamon Lakeside on 27 July 2024, with Tharindu Ameresekere installed as president and Ramesh Schaffter (MD & CEO of Janashakthi) as chief guest.
John Keells Holdings (JKH.N0000) has partnered with Nepal’s CG Corp to sell BYD electric vehicles in Sri Lanka and opened a BYD showroom. JKH plans about 50 charging centres at Keells Super outlets and its hotels over the next 6–12 months, with imports due when controls are lifted.
President Ranil Wickremesinghe pledged Sri Lanka will pursue the SDGs and reach net zero emissions by 2040, highlighting renewables, agribusiness transformation and sustainable tourism as key measures. He also announced plans for an International Climate Change University, four technical universities and efforts to attract global finance.