Beruwala Resorts PLC obtained a Rs. 60 million short-term working-capital loan from its ultimate parent, Colombo Fort Land & Building PLC, at AWPLR + 2%. The Related Party Transactions Review Committee said the transaction was on normal commercial terms and not prejudicial to minority shareholders.
Beruwala Resorts PLC proposes a Rs. 398 million rights issue (318,429,225 shares at Rs. 1.25) to fund refurbishment of The Palms Beruwala and meet working capital needs. The issue is subject to CSE in-principle approval, listing approval and shareholder approval at an EGM; Colombo Fort Hotels holds a 66.25% stake.
Beruwala Resorts PLC has closed The Palms Hotel Beruwala from May 1 until August 30, 2026 for refurbishment and operational upgrades and expects to reopen on September 1, 2026. The board said the closure is not expected to have a material long-term impact and cost management measures will be applied.
Colombo Stock Exchange rose with the ASPI up 0.47% and banks leading turnover at Rs.467 million. Nations Trust Bank completed the transfer of HSBC Sri Lanka's retail banking (effective May 1), Beruwala Resorts will close May 1–Aug 30 for refurbishment, and Sampath Bank appointed an independent director.
Colombo stocks rose 0.25% as foreign investors turned net buyers after a 21-session selling streak, recording a net inflow of Rs. 19.8 million and lifting the ASPI 55.45 points to 22,625.48. Top contributors included CINS, BUKI, CFIN, MELS and NHL, while consumer services led turnover and oil price moderation supported sentiment.
The Colombo market closed with the ASPI at 20,992, up 16 points, on turnover of Rs.5.6 billion; weekly ASPI and S&P SL20 fell 0.03% and 1.19% respectively. Property, capital-goods and consumer services stocks led turnover while select hotels and developers saw mixed flows and sizable corporate stake transactions were reported.
Colombo bourse rose for a second day as the ASPI gained 139.82 points to close at 20,753.21, with turnover at about Rs.7.4 billion boosted by several crossings. Selected Construction and Materials counters and names such as Access Engineering, Ceylon Tobacco and Cargills were among top contributors.
ASPI rose 143.73 points to 20,714.80 as turnover hit Rs.11.1bn, led by banking stocks and conglomerates with top contributors JKH, HNB, SAMP, BUKI and NDB. Banking accounted for 39% of turnover and foreign investors were net sellers of Rs.1.1bn.
Colombo market closed marginally higher as ASPI rose 0.01% to 19,976 on turnover of Rs.4.46bn with net foreign inflow of Rs.498.3mn. Transportation led turnover driven by Digital Mobility Solutions Lanka (PKME) which rose to Rs.105.75, while AMF, LVEF, HNB, CTC, LLUB and BERU saw notable activity.
IT & DigitalRenewable EnergyConsumer Staples (FMCG)Tourism
Colombo market closed higher as ASPI rose 0.25% with turnover of Rs. 7.56bn, boosted by a ~7% stake crossing in National Development Bank. Banking drove activity (67% of turnover) while several banks and financials including NDB, Capital Alliance and others led contributions.
ASPI rose 96.45 points (0.49%) to close at 19,923 as the CSE opened with mixed sentiment; foreigners were net sellers with a net outflow of Rs.117.2m. Banking led turnover (25%) while Capital Goods and Diversified Financials together contributed 28% of turnover.
Sri Lanka stocks closed marginally down with the ASPI slipping 0.04% to 18,876.85 and the S&P SL20 falling 0.69% to 5,628.93. Turnover dipped to 6.8 billion rupees amid early profit-taking, with Commercial Bank, Melstacorp, Sampath Bank and NDB weighing on the market and high volumes in Industrial Asphalts, Jetwing Symphony and Beruwala Resorts.
Colombo market stayed at an all-time high as the ASPI rose 82 points (0.47%) on turnover of Rs.5.6bn, led by heavy activity in John Keells, Hemas, Browns Investments, People’s Leasing and Lanka Milk Foods; foreign investors were net buyers of Rs.41.4mn and capital goods and diversified financials led turnover.
The Colombo market paused its upward run as the ASPI fell 0.37% and the S&P SL20 dropped 0.5%, while foreigners recorded a net inflow of Rs.170 million. Turnover was Rs.1.5 billion with top contributors John Keells, Commercial Bank and Hayleys and the banking sector leading activity.
Colombo market ended the week with losses as the ASPI fell 0.6% and the S&P SL20 0.44% on low turnover of Rs. 841.2m and foreign net selling of Rs. 2.1m. Sampath, HNB, DFCC and Melstacorp were top negative contributors, while Commercial Credit, Central Finance, Lanka Milk Foods, Ceylon Cold Stores and Alumex drew buying interest.
Colombo Stock Exchange rose with the ASPI up 1.31% (224.01 pts to 16,597.16) and S&P SL20 up 1.72% (85.42 pts to 5,047.45), driven by banking stocks and strong retail turnover. Top turnover generators included Commercial Bank, HNB, DFCC, NDB and Sampath Bank, with a net foreign outflow of Rs 279 million.
Colombo bourse fell with the ASPI down 1.06% and S&P SL20 down 1.14%, while net foreign inflow was Rs. 188.1 million. Banking led turnover (25%) and several stocks (SAMP, COMB, CINS, RICH, NDB) were top negative contributors; JKH, HHL and BIL recorded small gains.
IT & DigitalTourism
Daily FT·Jan 7, 2025·Management or board changePositive
Jayantissa Kehelpannala, a former John Keells Hotels senior executive, has been appointed an Independent Non-Executive Director of Marawila Resorts (MARA.N0000), Sigiriya Village Hotels (SIGV.N0000) and Beruwala Resorts (BERU.N0000). He brings over 40 years' experience in the leisure and hotel sector.
Colombo bourse ended a four-week winning run as the ASPI fell 299 points to 16,049 (-1.83%) and the S&P SL20 dropped 2.24%; turnover was Rs.11.48bn and foreigners were net buyers of Rs.142m. Sampath, Commercial Bank, LOLC, Melstacorp and Hayleys were among the top negative contributors while JKH gained.