News & market updates

Maharaja Foods (MFPE.N0000) listed 12,500,000 new ordinary voting shares after a rights issue that raised Rs112,500,000. The stock was trading down 80 cents at Rs12.50.

Singer (Sri Lanka) PLC launched the 'Singer Pace Hunt with Lasith Malinga' national fast-bowling talent search, receiving over 3,000 applications and shortlisting 350 for initial trials. The programme will mentor selected players under Malinga and the top 20 may be recommended to the Sri Lanka Cricket Fast Bowling Academy.

Investment banks have raised oil price forecasts after Middle East supply disruptions, with some warning Brent could reach $150+/bbl (Goldman sees March >$100/bbl and Brent traded around $100.80 early Friday). Analysts say prices could spike further if the Strait of Hormuz remains closed.

The CSE fell as the ASPI dropped 4.45% (1,009.36 pts), wiping Rs. 348.6 billion amid Middle East tensions and oil topping $100/bbl. Banking shares including COMB, HNB, HAYL and NTB were leading negatives while capital goods and crossings by MELS, ACL and AEL drove turnover.

Profood Propack & Agbiz Knowledge Hub 2026 will be held 21–23 Aug 2026 at BMICH, Colombo, with SLFPA and LECS planning an expanded exhibition focused on food processing, packaging, agriculture and SME support; Cargills Ceylon PLC is listed as a platinum sponsor and Hayleys’ agri unit featured among awardees.

The upcoming National Export Development Plan targets over 10% annual export growth and will expand focus from traditional pillars (apparel, tea, rubber, coconut) into new sectors — automotive components, electrical/electronic products, mineral-based industries, processed food & beverages, spices and gems & jewellery — while diversifying markets toward Africa, Asia and the Middle East.

ASPI fell 1.63% to 21,998.12 as Middle East tensions and higher oil prices weighed on the Colombo market. S&P SL20 dropped 1.71% to 6,172.28 with broad declines led by JKH, HNB, MELS, HAYL and SAMP; turnover topped Rs.4.1bn and foreigners were net buyers of Rs.32.2m.

Melstacorp sold 2 million shares of Distilleries Company of Sri Lanka on 11 March at Rs.59 each (≈Rs.118m), trimming its holding from 92.40% to 92.35% while retaining control.

TikTok is reshaping how Ramadan is experienced in Sri Lanka by enabling visible coordination of Zakat, public sharing of fasting practices, and by highlighting businesses' adjustments to hours and workplace policies. This increases reach for small food entrepreneurs and makes accommodation practices more publicly observable.

Mintpay launched a Corporate Gifting Solution offering no-expiry digital vouchers convertible to Mint Coins and redeemable at 2,500+ merchants; the product has been adopted by over 50 companies, including Union Assurance, within six months.

Sri Lanka's ASPI fell 1.63% to 21,988.12 as global uncertainty and Brent crude near $101.6 weighed on markets; John Keells Holdings, Hatton National Bank and Melstacorp were top negative contributors. Melstacorp said it sold 2,000,000 Distillery Company shares at Rs.59, trimming its stake to 92.35%.

All Ceylon Bakery Owners Association warned bakeries nationwide are facing shortages of diesel, petrol, kerosene and gas and urged the government to ensure uninterrupted supplies and allow fuel in cans for operations. About 25% use gas and 25–30% use diesel/kerosene; owners do not expect to raise prices despite shortages and some power outages.

SLFPA and LECS will stage Profood Propack & Agbiz Knowledge Hub 2026 at BMICH, Colombo from 21–23 August 2026. The sector-wide expo, endorsed by the Ministry of Industries, focuses on food processing, packaging and agri innovation and lists Cargills (Ceylon) Plc among its platinum sponsors.

Asia Securities convened 150+ investors and corporate leaders at the Sri Lanka Investor Conference 2026 to present a constructive capital-market outlook, with speakers citing roughly 4% GDP growth prospects for 2026. Panels highlighted construction, banking/finance, consumer and digital sectors as key growth drivers and projected strong corporate earnings expansion.

Sri Lanka's Industry and Entrepreneurship Development Ministry and EDB held diplomatic meetings to promote Sri Lanka Expo 2026 (18–21 June 2026 at BMICH) and attract international buyers and investors. The outreach targeted participation across apparel, tea, spices, rubber, ICT services, food & beverages and industrial manufacturing.

Russel’s Wellness launched a mentoring initiative to develop employees into entrepreneurs who will promote the company's wellness tea products to corporate clients, combining mentorship with practical market engagement to expand brand reach and social impact.

Sri Lanka is strengthening global trade partnerships to promote Sri Lanka Expo 2026 (18–21 June 2026 at BMICH, Colombo), aiming to attract international buyers and investors across apparel, tea, spices, rubber, ICT services, food & beverages and industrial manufacturing. A high-level EDB and ministry delegation met UK, Indonesian and Korean envoys to boost participation.

HerProgress.OurProsperity, a national women-led movement, was launched on March 8, 2026, with seven priority pillars addressing safety, legal recourse, women’s health (including period poverty), digital protection and economic empowerment to drive grassroots change across Sri Lanka.

ACP Asset Management launched the first Sri Lanka-focused UCITS fund, seeded with $10m and expecting a further $25m within 30 days, targeting $100m AUM in 6–12 months. The fund will invest in Sri Lankan equities, sovereign eurobonds and liquid treasury instruments and aims to draw foreign capital into sectors including banking, construction, F&B and tourism.

Nestlé Lanka will invest Rs. 9 billion over the next four years to expand its Pannala manufacturing facility, focusing on scaling coconut milk powder production for export. The company said it will not reduce staff, supports thousands of farmers and aims to be 100% plastic neutral by 2026.

Colombo market rebounded as the ASPI rose 2.17% (474.38 pts) to 22,378.52 after global oil prices fell below $95/bbl, with gains led by banks and blue-chips including HNB, SAMP, COMB and DIAL and turnover of about Rs.4.48bn.

The Sri Lanka Export Development Board has opened applications for Sri Lanka Expo 2026 (18–21 June at BMICH), offering 650 booths and opportunities to meet over 1,500 global buyers; applications close 31 March 2026. Sectors covered include industrial and agro-industrial products and services such as ICT, tourism, renewable energy and healthcare.

UN Global Compact Network Sri Lanka launched a Country-Level Environmental and Supply Chain Sustainability Working Group strategy and held January 2026 kick-off sessions to mobilise 70+ companies across five thematic working groups. The initiative focuses on climate mitigation/adaptation, water and ocean stewardship, and supplier capacity building to advance sustainability and regulatory-aligned disclosure.

The ASPI plunged 3.51% to 21,904.14 as panic selling and a >25% surge in crude to about $115/bbl on Middle East conflict hit the CSE; banking and blue-chip stocks (Commercial Bank, HNB, JKH, Sampath, C T Holdings) led declines while Lanka IOC rose.

Elvoir, Sri Lanka’s first certified perfumer-led fragrance brand, is manufacturing IFRA/ISO/GMP-certified luxury perfumes locally and targeting exports. It has sold out limited editions, partners with hospitality brands, and is expanding into candles, smart diffusers and personal-care lines.

PR Wire and the Automobile Industry Council launched the inaugural Automobile Awards to elevate Sri Lanka’s automobile industry, attracting over 150,000 device clicks within two months of its digital launch.