News & market updates

Colombo Stock Exchange closed down: ASPI fell 1.00% to 12,982 and S&P SL20 fell 1.49% to 3,860, with turnover Rs7bn led by banks and a net foreign outflow of Rs211mn. Top negative contributors included John Keells, Commercial Bank, Sampath and Browns, while DFCC and CDB were top turnover generators.

Sunshine Holdings (SUN.N0000) reported consolidated revenue of Rs. 30.1 billion for 1HFY25, up 6.8% YoY, while PAT fell 19.6% to Rs. 2.9 billion. Healthcare revenue grew 16.6% to Rs. 16.1bn and an IFC equity infusion into Sunshine Healthcare Lanka was completed; agribusiness (Watawala) revenue fell 7.4% with PAT down 39.6%.

Sunshine Holdings (SUN) reported consolidated revenue of Rs.30.1bn for 1HFY25, up 6.8% YoY, while PAT fell 19.6% to Rs.2.9bn mainly due to higher taxation in the agribusiness segment. Healthcare was the largest contributor (53.7% of revenue) and the group completed an IFC equity infusion into Sunshine Healthcare Lanka to scale operations.

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ASPI rose 0.6% to 12,875 (a multi-week high) as banking and blue-chip stocks led gains; turnover was Rs.2.4bn and foreign investors were net sellers of Rs.23.3m.

Colombo Stock Exchange closed higher as the ASPI rose 0.58% to 12,875 and the S&P SL20 gained 0.91% to 3,866, with banking stocks contributing over LKR 1bn of turnover. Vidullanka announced a scrip dividend listing and Ceylon Tobacco declared a third interim dividend of 40.9 per share.

Colombo Stock Exchange closed up: ASPI +1.07% to 12,745 and S&P SL20 +1.71% to 3,855 on turnover of 3.9 billion. Top turnover generators included HNB, Sampath, Commercial Bank, Lanka IOC and CIC, with a net foreign outflow of 12.21 million rupees.

Sunshine Holdings PLC hosted a Children’s Day celebration for children of SUN employees at Ape Gama in Battaramulla, featuring face painting, art/dance/singing competitions, a magic show, arcade games and prizes.

Colombo Stock Exchange closed higher: ASPI +0.74% to 12,610 and S&P SL20 +0.84% to 3,790, with turnover Rs4.4bn; Hatton National Bank accounted for Rs926m of turnover and there was a net foreign outflow of Rs12.21m.

Sunshine Holdings' Lina Manufacturing partnered with the Sri Lanka College of Pulmonologists to mark World Lung Day 2024, hosting an event in Colombo that gathered over 75 medical professionals. The company highlighted its respiratory products and reiterated its commitment to improving lung health and cleaner air.

Colombo Stock Exchange closed up: ASPI +0.47% to 12,357 and S&P SL20 +0.95% to 3,663, with turnover Rs 2.3bn. Top turnover stocks included John Keells (JKH 203.00), Sampath (84.00), Commercial Bank (110.25), Hayleys (103.00) and Hemas (81.00); net foreign inflow was Rs 118m.

The SLIBC led a business promotion mission to Indonesia (6–11 Oct 2024) with 14 Sri Lankan delegates, including Hayleys, Sunshine Holdings, Aitken Spence and LOLC, to pursue trade, investment and partnerships across food & beverage, pharmaceuticals, IT, travel and logistics.

A Sri Lanka–Indonesia Business Council delegation visited Indonesia to strengthen trade and investment ties; the 14-member team included Sunshine Holdings, Hayleys, LOLC and Aitken Spence. The delegation attended the INASCA Business Forum and Trade Expo Indonesia, targeting food, health and technology opportunities.

Hayleys PLC and John Keells Holdings are platinum sponsors of CA Sri Lanka's 45th National Conference, held 14–16 October. Other shortlist companies sponsoring the event include Nations Trust Bank (exclusive banking partner), Nawaloka Hospitals PLC (exclusive healthcare partner), LB Finance, Capital Alliance, DIMO, Sunshine, C. W. Mackie and Lanka IOC.

IFC invested approximately Rs. 3,270 million for a 14.73% stake in Sunshine Healthcare Lanka, the healthcare arm of Sunshine Holdings PLC. The funding will be used to expand pharmaceutical manufacturing (doubling respiratory-product capacity) and to invest in diagnostic and medical devices.

Sunshine Holdings (SUN) said its healthcare arm, Sunshine Healthcare Lanka, secured a USD 10m (≈LKR 3,270m) equity investment from the IFC, which now holds 14.73% of SHL to fund pharmaceutical capacity expansion and medical-device upgrades.

IFC acquired a 14.73% stake in Sunshine Healthcare Lanka for Rs. 3.27 billion; Sunshine Holdings PLC holds the remaining 85.27% after 1.9 million shares were issued on 3 October.

Colombo Stock Exchange closed higher: All Share Index up 1.34% to 10,826 and S&P SL20 up 1.92% to 3,037, with bank stocks leading turnover (Rs424mn) and most banks rising. Net foreign outflow was Rs71mn; foreign buying seen in Ceylinco, Chevron Lubricants and Browns Investments while selling affected Commercial Bank, Access Engineering, Co-operative Insurance, Nations Trust and Sunshine.

Colombo Stock Exchange closed higher: All Share Index up 1.10% to 10,683 and S&P SL20 up 1.86% to 2,979 on turnover of 1.2 billion, led by banks and blue-chips (notably HNB and JKH) and with a net foreign inflow of 80.39 million.

Colombo Stock Exchange fell: All Share Index down 1.05% to 10,663 and S&P SL20 down 1.77% to 2,960. Turnover was 1.2 billion with net foreign outflow of 44.81 million; top turnover stocks included Ceylon Tobacco, HNB, Commercial Bank, John Keells and Royal Ceramics, with mixed foreign buying/selling.

Sunshine Holdings PLC (CSE: SUN) has strengthened its Environmental, Health and Safety (EHS) mandate, introducing modern occupational safety and health standards for its 1,700+ employees. The new EHS logo and safety policy were unveiled at the Sunshine Safety Forum with NIOSH representation.

Fitch affirmed Hayleys PLC's 'AAA(lka)' rating with a Stable outlook, citing expected ~7% revenue growth in FY25 driven by defensive segments (hand protection, agriculture, purification), strong export diversification and resilient manufacturing footprint.

Great Place to Work FOR ALL Regional Conference 2024 will be held on Sept 10, 2024 at the Hilton Colombo, focusing on inclusivity, culture and sessions including digital transformation and AI; Sunshine Holdings' Group CEO Shyam Sathasivam is listed as a keynote speaker.

Colombo market closed up Friday with the ASPI +0.44% to 11,303 on turnover of Rs. 403.3m, though the week ended with losses (ASPI -1.2%, S&P SL20 -2.0%). Top contributors included Sampath, Richard Pieris, Aitken Spence, LOLC, Access Engineering and John Keells, while Commercial Bank edged down slightly.

Colombo Stock Exchange closed down: ASPI fell 0.36% to 11,253 and S&P SL20 fell 0.43% to 3,210, with turnover Rs629mn. Top contributors included Sampath (up after stellar interim results and a Rs10bn debenture announcement), DFCC and SMB Finance, while several banks including HNB, NDB and Commercial Bank weighed on the index; net foreign inflow was Rs19mn.

The ASPI rose 42 points (0.4%) to 11,294 as the Colombo market closed marginally higher on turnover of Rs. 582 million. Gains in John Keells, Richard Pieris, HNB, BIL and others supported the rise, turnover was led by JKH and capital goods, banking and F&B sectors, while foreigners net sold Rs. 20.6m.

ASPI closed at 11,252, down 1.67% (191 points) and the S&P SL20 fell 2.3% as turnover hit Rs. 863.8m. Banking stocks and conglomerates led losses, with COMB under selling pressure ahead of rights renunciation and declines noted in HNB, SAMP, MELS and SUN.

Sunshine Holdings PLC (SUN) reported consolidated revenue of Rs.14.2 billion in 1QFY25, up 6.5% YoY, while PAT fell 3.6% YoY to Rs.1.4 billion. Healthcare revenue rose 19.8% to Rs.7.6 billion (Lina Manufacturing +104.4%), while Consumer and Agribusiness (Watawala Plantations) revenues declined.