News & market updates

The India Cup Golf Tournament 2025, hosted by ILCCI at Royal Colombo Golf Club on 24 Jan, drew over 100 participants and served as a networking event for Indian and Sri Lankan business leaders; sponsors included Carson Cumberbatch, Lanka Ashok Leyland, Lanka IOC and Sunshine Holdings.

Sri Lanka's vehicle assembly and component sector says it now has over 17 assembly plants and 5,000 direct skilled workers and aims to increase component export revenues from $800m to $2bn within five years, supporting job creation and foreign-exchange conservation.

Sri Lanka's local vehicle assembly sector has more than 17 assembly plants and aims to raise component export revenues from USD 800m to USD 2bn within five years. The industry directly employs over 5,000 skilled workers and has 17 additional investors preparing operations, supporting broader manufacturing growth.

Local Assemblers' Association warns that reopening completely built unit (CBU) vehicle imports will discourage more than 20 local assemblies, including Lanka Ashok Leyland, and could undo gains in the local assembly/component ecosystem, jobs and planned export growth (component exports from USD 800m to USD 2bn).

Composition of the Audit Committee This is to inform you that the Board of Directors of the Company approved on 27th September 2024 the appointment of Mr. D.A Abeyawardene Independent (Non-Executive) Director as the Chairman of the Audit Committee with effect from 01st October 2024. • Mr. D.A Abeyawardene - Chairman Independent (Non-Executive) Director • Mr. D. P. Kumarage - Member Independent (Non-Executive) Director • Mr Gopal Mahadevan - Member Non-Independent (Non-Executive) Director • Mr. N. Sundararajan - Member Independent (Non-Executive) Director • Mr R. D. Balasubramaniam - Member Non-Independent (Non-Executive) Director