Company filings and market news from across Sri Lanka's stock market.
THE VIEWS, COMMENTS, AND ADVICE OF THE BOARD OF DIRECTORS OF TEA SMALLHOLDER FACTORIES PLC IN TERMS OF RULE 13(2) OF THE COMPANY TAKEOVERS AND MERGERS CODE OF 1995 (AS AMENDED) ON THE MANDATORY OFFER MADE BY UDAPUSSELLAWA PLANTATIONS PLC TO THE SHAREHOLDERS OF THE COMPANY TO PURCHASE 18,723,161 (62.41%) ORDINARY VOTING SHARES OF TEA SMALLHOLDER FACTORIES PLC
Over 4,200 Americans visited the Sri Lanka Embassy open house in Washington D.C. on 3 May 2025 as part of Passport DC, where the Embassy promoted Sri Lanka tourism with cultural displays, live cooking, handicrafts and Ceylon tea sampling.
Emirates and Dilmah mark their 33-year partnership and will distribute complimentary Dilmah tea gift packs to passengers and offer Dilmah tea cocktails in Emirates lounges for International Tea Day; Emirates brews over 33 million cups of Dilmah tea annually. The collaboration highlights support for Sri Lanka's tea plantations and Dilmah’s MJF charitable initiatives.
Emirates and Dilmah mark 33 years of partnership and Emirates brews more than 33 million cups of Dilmah tea annually. On International Tea Day, passengers on flights over 2.5 hours received a complimentary special-edition Dilmah tea gift and lounges offered tea cocktails and pairings.
Dividend · Rs 1.00 · XD Jun 25, 2025
Final dividend of LKR 1/share; XD 2025-06-25; record 2025-06-25; payable 2025-07-15; FY FOR FINANCIAL YEAR ENDED 31ST DECEMBER 2024
The Central Bank reported Sri Lanka's paddy production for the 2024/25 Maha season at 2.62 million tonnes, a 3.8% decline from the previous season, and noted March declines in coconut (−23.1% y/y), fish (−1.8% y/y) and rubber. Tea production rose 24.8% y/y and spice export earnings increased in March.
Government and Unilever will standardise 'Ceylon Tea' aiming to raise production to 400 million kg and tea export earnings to $2.5bn annually within five years. A national certification system and sustainable cultivation standards have been prepared and a strategic plan has been submitted for cabinet approval.
Colombo bourse closed the shortened week with the ASPI up 2.9% and S&P SL20 up 3.5%, average daily turnover Rs.3.67bn, led by gains in JKH, LOLC, CARS, EBCR and SAMP; foreigners recorded a net inflow of Rs.157.2m.
Seven Heads of Missions-designate met Foreign Affairs Minister Vijitha Herath to discuss promoting trade, tourism and FDI and were briefed on economic improvements including 5% GDP growth and $7bn in foreign reserves. The BOI outlined plans for five regional industrial zones and two tech parks to attract investment.
Ceylon Chamber of Commerce will host the National SME Forum 2025 on 21 May at the Taj Samudra, Colombo, bringing over 200 SMEs together to explore export opportunities and meet trade representatives from India, the UK, the EU and the UAE. Sessions include digital tools, finance, government SME strategies and business matchmaking clinics.
A 115-member Chinese business delegation led by Commerce Minister Wang Wentao will attend the Sri Lanka–China Trade and Investment Forum in Colombo on May 30 to explore trade and investment opportunities across tea, agriculture, textiles, automotive, construction and clean-energy sectors.
COYLE appointed Manjula Wijesundara as Chairman for 2025/26, declaring 'A Year of International Growth'. He will prioritise stronger international engagement—trade delegations, MOUs and diaspora linkages—to boost exports and attract investment in apparel, rubber, tea, ICT and manufacturing.
China's Commerce Minister Wang Wentao will lead a 115-member, 77-company delegation to a Sri Lanka–China Trade & Investment Forum in Colombo on May 30, 2025 to explore trade and investment opportunities across tea and agriculture, textiles, automotive, clean energy, engineering and construction.
ADB says developing financial tools and expanding agricultural insurance, alongside smart farming technologies (precision farming, remote sensing) and resilient crop practices, is essential to reduce farmers' vulnerability to increasing weather extremes in Asia-Pacific.
CHAGEE opened its first U.S. flagship tea house at Westfield Century City in Los Angeles, holding a grand opening and ribbon-cutting on May 9 with events through May 11. The Nasdaq-listed brand (April 2025) says it has over 6,400 stores and uses automated tea-brewing and extraction technology.
Cabinet approved gazetting draft bills to raise the national private‑sector minimum monthly wage from Rs.17,500 to Rs.27,000 effective 1 April 2025 and to Rs.30,000 from 1 January 2026; the daily wage will rise from Rs.700 to Rs.1,080 on 1 April 2025 and to Rs.1,200 on 1 January 2026. The drafts will be published in the Government Gazette and then submitted to Parliament for approval.
The Chamber of Young Entrepreneurs (COYLE) appointed Manjula Wijesundera as Chairman for 2025/26, launching a 'Year of International Growth' to expand global market access for Sri Lankan businesses. COYLE plans trade delegations, MoUs and international partnerships to support exporters, notably in apparel, rubber, tea, ICT and manufacturing.
Agalawatte Plantations said Damro disposed of 32,500,000 shares (20.8%) sold to A & M Properties at Rs51.90 each for Rs1.68 billion. Earlier this week Damro also sold FLMC Plantations to Browns Power Holdings, a subsidiary of Browns Investments, for Rs4.8 billion.
Maskeliya Plantations PLC appointed Vipula Pusselle as CEO effective 2 May 2025; he had been Acting CEO since 2023 and has over three decades of experience in the tea industry.
The ASPI fell 120 points (0.75%) to 15,842 as investors reacted to the ruling NPP's weaker-than-expected LG poll showing, with turnover of Rs. 3.2bn. Major drags included JKH, CINS, COMB, SPEN and SAMP while Food, Beverage & Tobacco led turnover (61%).
National Sale Average for April fell to Rs. 1,166.75 ($3.91), down Rs. 17.01 month-on-month and Rs. 50.10 year-on-year. All elevation categories reported weaker prices for Jan–Apr 2025 versus 2024, with low-grown teas posting the sharpest YoY decline and the four-month average down Rs. 94.99.
Colombo Stock Exchange closed higher in a shortened session, with the ASPI up 45 points to 15,962 (S&P SL20 +0.22%). Turnover was about Rs.1.48–1.5 billion and foreign investors net sold Rs.177.3 million; key contributors included MELS, WIND, SPEN, SAMP and heavy turnover in CTC, BIL and KOTA.
Browns Investments PLC's subsidiary Browns Power Holdings acquired 100% of FLMC Plantations for LKR 4.8 billion on May 5, 2025, making BIL the largest tea producer in Sri Lanka with ~17.5m kg annual made tea capacity. FLMC controls ~11,500 ha across 24 estates producing ~4.3m kg made tea and ~2.3m kg rubber annually.
Browns Investments Plc (via subsidiary Browns Power Holdings) acquired FLMC Plantations (Pussellawa Plantations) for Rs 4.8 billion, adding over 11,500 hectares and raising the group's annual made tea capacity to about 17.5 million kg.
Browns Investments PLC (BIL) acquired FLMC Plantations Ltd. from Damro and Piyestra for Rs. 4.8 billion under a share sale and purchase agreement. FLMC holds Pussellawa Plantations (11,500 ha across 24 estates producing ~4.3m kg made tea and ~2.3m kg rubber) and Melfort Green Teas, boosting the group's tea capacity to ~17.5m kg.