News & market updates

HNB announced a strategic partnership with United Motors Lanka (UML) on 27 March 2025 to expand leasing facilities for Mitsubishi and FUSO vehicles, offering competitive packages, faster processing and wider access via HNB’s branch network.

Unimo Enterprises, a fully owned subsidiary of United Motors Lanka (UML.N0000), launched the "Unimo Brand New Avurudu Drive" with ready stock of Perodua and JMC vehicles and EV bookings, offering immediate purchases and prices from Rs. 8,950,000.

Vallibel One appointed Jonathan Alles as an Independent Non-Executive Director. Alles is the former MD/CEO of Hatton National Bank with over 37 years' banking experience and was recently also appointed to the boards of United Motors, Ceylon Beverage, Lion Brewery and Hayleys.

HNB PLC hosted an exclusive forum on Sri Lanka’s motor vehicle industry and outlook for 2025, convening policymakers and industry leaders to discuss regulatory reforms, vehicle imports, electric vehicles and financing; HNB highlighted its leasing and auto-finance capabilities.

Government plans to lift vehicle import restrictions early next month, with vehicle imports expected to contribute Rs.300–350 billion to revenue in 2025. Authorities will use a phased approach prioritising commercial/public transport, tighten import registrations, monitor dollar outflows and push tech-driven tax surveillance.

Hayleys PLC won the Gold for Overall Excellence in Corporate Reporting at CA Sri Lanka’s TAGS Awards 2024; Diesel & Motor Engineering PLC took Silver and Commercial Bank of Ceylon PLC featured among top winners. Multiple shortlisted firms (e.g., DIMO, COMB, LFIN, SFIN, CCS, HAYC, SLTL, LGL, FCT) received sector awards.

Jonathan Alles has been appointed to the Board of Hayleys PLC as an Independent Non-Executive Director. Alles is a former MD/CEO of Hatton National Bank with over 37 years' banking experience and was recently appointed to the boards of United Motors Lanka, Ceylon Beverage Holdings and Lion Brewery.

Anura Kumara Dissanayake's 21 Sept. presidential win propelled the Colombo bourse—ASPI rose ~10% and S&P SL20 ~13% since the victory, returning indices to double-digit YTD gains. Turnover jumped to Rs.2.6bn with banks and capital goods leading; JKH, COMB, NDB, CFIN, SAMP and HNB were key positives while UML, MARA and BERU fell.

Ceylon Beverage Holdings PLC appointed Jonathan Alles, Ajay Bhaskar Baliga and Saktha Amaratunga as Independent Non-Executive Directors; Alles and Amaratunga were also appointed to the board of Lion Brewery Ceylon PLC.

United Motors Lanka PLC appointed Jonathan Alles as an Independent Non-Executive Director. Alles is a veteran banker and former MD/CEO of Hatton National Bank with over 37 years of experience.

Correction: Arjuna Herath is a Non-Executive Independent Director of United Motors Lanka PLC; the Chairman is Devaka Cooray.