News & market updates

Phantom Investments (Rayynor Silva) bought a 9.75% stake in DFCC Bank (42.2m shares) for Rs.3.58bn at Rs.85/share. The shares were sold by LOLC Investment Holdings; Rayynor, who earlier took ~10% of Sampath Bank, said the DFCC investment is strategic and long term.

Hayleys PLC subsidiary Hayleys Advantis has been appointed the General Sales Agent for Jetstar Asia’s new Colombo–Singapore route, which will operate five weekly return A320 flights and has reported strong forward bookings. The service is expected to boost tourism and cargo connectivity, aiding exporters and travel-related businesses.

Jetstar Asia has launched direct Singapore–Colombo flights with five weekly return A320 services, offering over 90,000 low-fare seats a year. The new route is expected to boost inbound tourism and benefit Sri Lankan hospitality firms and partners such as Hayleys.

CA Sri Lanka hosted the SAFA Best Presented Annual Report Awards 2023 in Colombo, where Sri Lankan firms won 24 awards. Several listed companies — including Commercial Bank, Hayleys, Haycarb, Royal Ceramics, Access Engineering, Kelani Valley, Talawakelle, DIMO, Sri Lanka Telecom, Ceylon Tea Brokers, NDB and L B Finance — received awards or merit recognitions.

Colombo Stock Exchange closed up: ASPI +0.06% to 13,113 and S&P SL20 +0.13% to 3,919 on turnover Rs2.7bn. Top contributors included John Keells, Commercial Bank, Lion Brewery and Access Engineering; banking stocks were mixed and there was a net foreign outflow of Rs366mn.

UN Global Compact Network Sri Lanka and UNDP held a Science-Based Targets initiative workshop urging corporates to set validated SBTs to reduce emissions and strengthen resilience; Teejay Lanka and Talawakelle Tea presented local case studies and Hayleys representatives shared experiences to boost corporate decarbonisation and reporting.

Hisham Jamaldeen resigned from the boards of Hayleys PLC, Singer (Sri Lanka) PLC, Haycarb PLC and Talawakelle Tea Estates PLC, with the resignation effective November 14, the companies said in stock exchange filings.

UN Global Compact Network Sri Lanka and UNDP held an SBTi workshop with 48 companies to support setting science-based decarbonisation targets; Teejay Lanka (TJL.N0000), Talawakelle Tea Estates (TPL.N0000) and Hayleys (HAYL.N0000) presented local case studies.

Hayleys PLC reported H1 Profit Before Tax of Rs.12.73 bn, up 78% y/y, with consolidated revenue rising 17% to Rs.236.15 bn and annualised EPS at Rs.4.23. Growth was led by Consumer & Retail (+52%), Transportation & Logistics (+26%) and Projects & Engineering (+87%); net finance costs fell ~35% and Fitch retained AAA (lka).

Hayleys PLC reported Profit Before Tax of Rs.12.73 billion for the first half to 31 March 2025, a 78% YoY increase. Group revenue rose 17% to Rs.236.15 billion, consolidated PAT was Rs.7.0 billion (up 122%), EPS annualised to Rs.4.23 and Fitch retained the AAA (lka) rating.

DIMO, Tokyo Cement (TKYO) and Hayleys (HAYL) are sponsors and exhibitors at the Jaffna International Trade Fair 2025 (24–26 Jan), the 15th edition expecting over 100,000 visitors and showcasing construction, consumer goods, tourism, ICT, agriculture and related industries.

Sujeewa Rajapakse will resign from the board of Dipped Products Plc, stepping down as audit committee chairman on Nov 12 and as independent non-executive director on Nov 30. Pathiranage Yohan Srineth Perera will replace him as audit committee chair; Dipped Products is a subsidiary of Hayleys PLC and its stock was trading at 41.40.

The Institute of Supply and Materials Management held National Supply Chain Day on 24 Oct 2024 in Colombo, hosting an international seminar and awards attended by ~400 participants. The event featured CEOs from Dialog and Singer, and listed firms including Hayleys, Lion Brewery, Dipped Products, CIC, Alumex, DIMO and Haycarb were among nominees.

The Sri Lanka Design Festival 2024 has reintroduced its Interior and Product Design Exhibition at Cinnamon Life, showcasing local design talent and featuring Alumex PLC (part of Hayleys PLC) among exhibitors. The exhibition runs daily until 10 November at the Lumina Ballroom.

Hayleys Solar, the renewable arm of Hayleys, won the Silver award at Dragons of Asia 2024 for its 'Live a Life Full of Light' campaign. The multi-channel campaign and island-wide experience centres promoted solar as an affordable solution amid Sri Lanka's power crisis.

Alumex PLC inaugurated its 'Ascend' state-of-the-art manufacturing facility on 26 September 2024, adding Aluminium High Pressure Die Casting (HPDC) and a dedicated balcony assembly line. The plant is intended to boost exports and expand product offerings for construction, automotive and electronics markets.

Commercial Bank of Ceylon and Hayleys Solar donated a 40kW on-grid photovoltaic solar power system to the Sri Kavantissa Vocational Training Centre and Tissamaharama Raja Maha Vihara. The donation is part of a strategic collaboration offering concessionary terms under the Bank’s Diribala Green Development Loan scheme.

Hayleys Fentons (part of Hayleys Group) won five CNCI Achiever Awards 2024, including the Gold Award in the National Level Service Sector – Extra Large Category and a Top Ten Award.

Horana Plantations PLC (HOPL.N0000) became the first Sri Lankan company to develop an EU Deforestation Regulation (EUDR)-compliant management system, third-party verified by Preferred by Nature. The certification and HPL's knowledge-sharing aim to improve EU market access and industry preparedness.

Colombo stock market turnover hit an 8-month high of Rs. 7 billion, led by Harischandra Mills (Rs.1bn), NDB (Rs.663m), Hayleys (Rs.534m), DFCC (Rs.340m) and PABC (Rs.339m); off-board trades transferred 13.9% of Harischandra and 10.7% of Swadeshi.

Colombo Stock Exchange closed higher: ASPI +0.20% (24.98 pts) at 12,770 and S&P SL20 +0.22% at 3,864, with turnover Rs7 billion. A crossing on Harischandra Mills contributed over a billion to turnover, a Swadeshi Industrial Works crossing involved HNWIs, and top ASPI contributors included Melstacorp, NDB, Central Finance and Hayleys.

Hayleys PLC was one of ten Sri Lankan coconut-product companies showcased at the Saudi Agriculture Expo 2024 in Riyadh (21–24 Oct), an Embassy- and Coconut Development Authority-led effort to promote Sri Lankan exports including coco peat for Saudi green initiatives.

Haycarb PLC's 2023/24 Annual Report won a Gold (Cover Photo/Design) and a Silver (Non-Traditional Annual Report) at the 38th ARC International Awards. The report, launched in Haycarb's 50th year, sets ESG targets including a 50% rise in renewable energy use, 25% sustainable packaging and 25% reduction in Scope 1 & 2 emissions by 2030.

Hayleys PLC was one of 10 Sri Lankan coconut-product companies that exhibited at the Saudi Agriculture Expo 2024 in Riyadh (21–24 Oct), promoting coconut-based products including coco peat to potential Saudi buyers and supporting Saudi 'Green Initiative' planting plans.

CSE turnover rose to an eight-month high of Rs.4.8bn as ASPI gained 0.94% and the S&P SL20 gained 1.55%; heavy trading and price gains were led by John Keells, Hayleys, Sampath Bank, Hatton National Bank, Commercial Bank, Ceylon Tobacco and Resus Energy.

Colombo Stock Exchange closed higher: ASPI +0.94% at 12,473 and S&P SL20 +1.55% at 3,720, with turnover Rs 4.7 billion. Crossings in Sampath Bank and Hayleys added over Rs 1.3 billion; net foreign outflow was Rs 39 million, with foreign buying in Sampath and Haycarb and selling in CIC, Hayleys, Vallibel Finance and Dipped Products.

Colombo market closed marginally higher as the ASPI rose 57 points to 12,357 on turnover of Rs.2.3bn and a net foreign inflow of Rs.118.1m. Banking-led buying (35% turnover) and gains in Commercial Bank, Sampath Bank, NDB and Central Finance drove the session, with Hayleys and Hemas also up.

The National Logistics Awards 2024 were held on October 23 at the Shangri‑La Colombo to honour excellence across the logistics sector; over 40 prizes and seven 'Legends of Logistics' awards were presented. Hayleys Advantis and Aitken Spence Maritime joined as Gold sponsors, with CL Synergy as Main Sponsor.

Colombo Stock Exchange closed up: ASPI +0.47% to 12,357 and S&P SL20 +0.95% to 3,663, with turnover Rs 2.3bn. Top turnover stocks included John Keells (JKH 203.00), Sampath (84.00), Commercial Bank (110.25), Hayleys (103.00) and Hemas (81.00); net foreign inflow was Rs 118m.

The SLIBC led a business promotion mission to Indonesia (6–11 Oct 2024) with 14 Sri Lankan delegates, including Hayleys, Sunshine Holdings, Aitken Spence and LOLC, to pursue trade, investment and partnerships across food & beverage, pharmaceuticals, IT, travel and logistics.