News & market updates

Cinnamon Life at City of Dreams (COD), operated by John Keells Hotels, received a Five Star certification from Sri Lanka Tourism. The award was presented by Sri Lanka Tourism Chairman Buddhika Hewawasam to COD CEO Sanjiv Hulugalle.

Sri Lanka's ASPI fell 5.4% over the week after Cyclone Ditwah, closing Friday at 21,497.08 as selling pressure hit the market. Banks and John Keells were top negative contributors, while some construction stocks (e.g., Swisstek) saw buying ahead of expected reconstruction projects.

AFC Asia Frontier Fund co-manager Ruchir Desai said Sri Lanka is now one of the fund’s top country picks, having raised allocation since November 2022, citing regained political and economic stability, undervalued equities (market ~11x earnings) and strong bank and consumer earnings.

Commercial Bank of Ceylon signed an MoU with Brown & Company to provide special leasing via its Agri Lease and Diribala Green Development Loan Scheme to help farmers buy Browns Agriculture machinery. Browns will offer free first-year insurance, initial labour-free services and IoT monitoring for selected equipment.

Colombo bourse fell 1.87% to 21,826.59, wiping Rs.143 billion off market value with turnover of nearly Rs.3.78bn and foreign net selling of Rs.295.5m. Brokers said price losses in counters including Ceylinco, Melstacorp and Commercial Bank drove the slide amid adverse weather forecasts.

Colombo Stock Exchange ASPI fell 1.87% to 21,826.59 and the S&P SL20 dropped 1.75% to 6,030.66. Top decliners included Ceylinco Holdings, Melstacorp, Commercial Bank, Senkadagala Finance and Bukit Darah; construction names Access Engineering and Sierra Cables also slid, and Hemas appointed Ajith Fernando as chairman effective Jan 1.

Hemas Holdings said Ajith Fernando will become chairman effective Jan 1 following Husein Esufally's retirement on Dec 31; Murtaza Esufally has been appointed deputy chairman as Anura Ekanayake retires.

Hemas Holdings announced that long-serving Group CEO and Chairman Husein Esufally will retire effective 31 December; Ajith Fernando will become Chairman from 1 January 2026 and Murtaza Esufally will be appointed Deputy Chairman.

Melstacorp (MELS.N0000) has appointed Jude Fernando as Group CEO. Fernando brings over 32 years of senior experience across finance, supply chain, sales & marketing and has held leadership roles at Hemas, Janashakthi, Kotmale and Cargills.

Cinnamon Hotels & Resorts (part of John Keells Hotels) has resumed operations at all previously cyclone-affected resorts and reports all properties are fully operational as of 1 December 2025. The John Keells Group and Foundation are assisting flood-affected communities while bookings and activities continue as scheduled.

The luxury cruise Mein Schiff 06 called at Colombo carrying over 2,000 international passengers (2,300 on board) with more than 1,600 taking excursions; local operations were managed by Aitken Spence Travels, underscoring tourism recovery and port capacity.

Colombo market recouped 30% of Monday’s Rs.240 billion wipe-off as the ASPI rose 1% (219 points), restoring about Rs.72 billion of market cap; top contributors included RICH, CINS, SAMP, BUKI and NDB while capital goods and materials led turnover.

Aitken Spence's local operator handled the luxury cruise Mein Schiff 06 arrival in Colombo with over 2,000 passengers onboard and more than 1,600 guests taking excursions. The visit mobilized 72 coaches and 30 vans and is being cited as a sign of tourism recovery.

Share split · 1:2 · XD Dec 16, 2025

Colombo Stock Exchange recovered as the ASPI rose 1% (219.51 pts) to 22,241.57, led by gains in diversified financials and construction-related shares, with notable rises in Ceylinco, Sampath, NDB, Bukit Darah, Sierra Cables and ACL Cables.

Hemas Holdings (HHL.N0000) said Ajith Fernando will become Chairman effective 1 January 2026. Long-serving Chairman Husein Esufally and Deputy Chairman Dr. Anura Ekanayake will retire on 31 December 2025, and Murtaza Esufally is appointed Deputy Chairman effective 1 January 2026.

Melstacorp PLC appointed Sampath Jude Fernando as Group Chief Executive Officer effective December 1; he brings over 32 years' experience with senior roles at Hemas Pharmaceuticals, Janashakthi Insurance, Kotmale Holdings and Cargills.

Colombo Stock Exchange opened December sharply lower as the ASPI fell 3.04% to 22,022.06 following Cyclone Ditwah; the S&P SL20 lost 2.89% and turnover topped Rs.5.2bn with foreign net outflow of ~Rs.106.2mn. Capital Goods and Banking led turnover while Access Engineering rose and several banks and John Keells fell.

Sierra Cables (SIRA.N0000) reported 1H revenue up 80% to Rs. 7.51bn and net profit up 130% to Rs. 1.37bn. The company affirmed an A+ national rating, is expanding exports (notably to the US), increasing capacity and targeting renewable-energy and construction-grade product lines.

Commercial Bank of Ceylon and Brown & Company PLC signed an MoU to offer special leasing facilities through the bank’s Agri Lease and Diribala Green Development Loan Scheme to help farmers acquire Browns Agriculture machinery; the program includes bundled benefits such as insurance, free servicing, IoT monitoring and warranties.

Cabinet approved the 'Rebuilding Sri Lanka' Fund to finance recovery from Cyclone Ditwah and appointed a management committee chaired by Dr. Anil Jayantha Fernando that includes private-sector representatives from Hayleys, John Keells, Aitken Spence and LOLC.

Government will establish a post-disaster rebuilding fund managed by a joint public–private committee to finance reconstruction of highways, irrigation, houses and plantations; the World Bank's GRADE damage assessment is expected in about two weeks.

CSE closed two hours early due to cyclone Ditwah; the ASPI rose 0.35% to 22,742.46 on turnover of over Rs.1.9bn, with foreign investors net selling Rs.326.3m (month-to-date outflow Rs.3.7bn). Top contributors were BUKI, AEL, BIL, LOLC and DOCK.

Keells Supermarkets (part of John Keells) was recognised at the 2025 Meta Reels Impact Awards for Best Use of Innovation and Generative AI for campaigns managed by Roar AdX. Roar AdX also had 10 further client entries shortlisted at the event.

Colombo Stock Exchange closed 0.22% higher after trading ceased early at 12:30pm due to cyclone Ditwah; the ASPI rose 50.73 pts to 22,712.82 with turnover Rs 1.93bn. Top contributors included John Keells, Ceylinco, Aitken Spence, Dialog Axiata and Sampath Bank.