News & market updates

Ambeon Capital PLC reported consolidated PAT of LKR 3,242 million for FY2025/26, up 104% YoY. Group revenue was LKR 19 billion (+12%), with strategic moves including increased stakes in DFCC (9.91%) and Seylan (9.93%), a 13.33% holding in Ceylon Hotels and a planned controlling stake in Harischandra Mills.

Ambeon Essentials (a subsidiary of Ambeon Capital PLC) has appointed Dr. Sajeeva Narangoda, Aravinda de Silva, Savanth Sebastian and Sujeewa Mudalige to the Board of Harischandra Mills PLC with effect from 12 May.

Myland Developments PLC appointed Dr. Damindra Ranjan Dissabandara to its Board as an Executive Director. Dr. Dissabandara, who is CEO of Colombo City Holdings PLC, has over 25 years' experience in corporate leadership, academia and consultancy.

Ambeon Capital PLC reported Q2 PAT of LKR 3,820m and year-to-date PAT of LKR 4,551m, up sharply from LKR 123m a year earlier. The group cited fair value gains and strategic investments, acquired 51% of Mylands and increased holdings in Ceylon Hotels (to 13.57%), DFCC (9.91%) and retains 9.93% in Seylan.

Ambeon Capital PLC reported 2Q PAT of Rs.3.82bn (YTD Rs.4.55bn) while Ambeon Holdings PLC posted 2Q PAT of Rs.3.22bn (YTD Rs.3.9bn). The group cited fair value gains and efficiencies, acquired 51% of Mylands, and increased stakes in Ceylon Hotels (13.57%) and DFCC (9.91%) while holding 9.93% in Seylan.

Myland Developments PLC appointed Savanth Sebastian and Ravi Goonetilleke as Independent Non‑Executive Directors and Dr. Kanchana Narangoda as an Executive Director. The appointees bring experience and links to firms including Ambeon Capital, Colombo City Holdings, Dankotuwa Porcelain, Hemas and Nations Trust Bank.

Colombo City Holdings PLC appointed Nelaka Haturusinha as an Independent, Non-Executive Director. Haturusinha brings over eight years' investment experience at Striders Corporation and roles in private equity, venture capital and real estate across Japan, Southeast Asia and South Asia.

Ambeon Capital PLC reported Q1 FY2025/26 PAT of LKR 731 Mn vs LKR 83 Mn a year earlier. Ambeon Holdings PLC posted PAT of LKR 677 Mn (from LKR 183 Mn) with revenue up 32% to LKR 3,985 Mn; Colombo City Holdings PLC (real estate) reported PAT LKR 67 Mn.

Ambeon Capital PLC reported Q1 PAT of Rs.731m (vs Rs.83m a year ago), while Ambeon Holdings PLC posted Q1 PAT of Rs.677m (vs Rs.183m); Ambeon Holdings revenue rose 32% to Rs.3,985m. Group said gains were driven by fair-value gains from strategic investments and noted a 14.1% stake in Capital Metals.

Colombo's ASPI rose 0.49% to 19,923.02, led by buying in bank counters—mainly Commercial Bank and HNB—while the S&P SL20 edged down to 5,824.91. Notable movers included C T Holdings, Ceylinco, Carson and Dialog higher, with John Keells and Overseas Realty weaker; turnover fell to Rs 3.1bn.

Ambeon Holdings PLC reported PAT of LKR 1,910 Mn for FY 2024/25, with PBT of LKR 2,260 Mn and consolidated revenue up 2% to LKR 17,522 Mn. The PAT decline of LKR 947 Mn versus the prior year largely reflects one-off gains in FY2023/24, including the 51% divestiture of Dankotuwa Porcelain.

The ASPI fell 2.3% for the first week of February despite a 1.38% rebound on Friday; weekly turnover averaged Rs.4.16bn and Friday turnover was Rs.2bn. Ceylinco, Melstacorp, John Keells and Aitken Spence were among Friday's top contributors, while Watawala, Seylan Bank and SMB Finance were key detractors.

Ambeon Holdings acquired a 7.63% stake in Seylan Bank for Rs.1.4 billion, following Ambeon Capital's purchase of 9% of DFCC Bank for Rs.3.3 billion. The piece also notes Ambeon holds a 22.4% stake in Dankotuwa Porcelain and has links to Colombo City Holdings and MillenniumIT.

Colombo Stock Exchange closed up as the All Share Index rose 1.07% to 12,294, led by banks with total turnover of Rs2.3bn and Rs563mn in bank trades. Top contributors included Commercial Bank, Sampath Bank, Lanka IOC and Browns Investments, and net foreign inflow was Rs107mn.

Colombo Stock Exchange closed lower with the All Share Index down 0.84% to 11,361 and the S&P SL20 down 1.05% to 3,254 on turnover of 1.2 billion. Brokers said selling was driven by funds and individuals awaiting election clarity; net foreign inflow was 41 million.