News & market updates

Singer Sri Lanka PLC (SINS.N0000) and Kapruka Holdings PLC (KPHL.N0000) have formed a strategic partnership to list Singer’s consumer electronics and homeware on Kapruka’s Partner Central platform with price parity to Singer showroom prices. The arrangement gives Singer access to Kapruka’s delivery network and large expatriate customer base.

Sri Lanka added 10,113 active credit cards in January 2026, bringing total active cards to 2,176,299, a 0.5% monthly increase, central bank data showed. The rise is attributed to the economic recovery, falling interest rates and strong bank promotions with retailers.

Lanka Milk Foods (CWE) PLC recovered Rs. 309.3 million from a longstanding legal claim, to be recorded as other income and expected to materially impact results for the period ending 31 March 2026. The share price closed down Rs.1 at Rs.81.10.

LankaPay partnered with Weixin Pay to enable cross-border Weixin Pay QR acceptance at over 400,000 LANKAQR merchants in Sri Lanka, launched 24 March 2026. The integration aims to ease payments for Chinese tourists and boost digital payment adoption among local merchants, supporting tourism growth.

ASPI fell 1.2% (258.31 pts) for the week and the S&P SL20 dropped 2% (124.30 pts); market turnover was about Rs.1.77bn with net foreign outflows of Rs.68.2m, while breadth was positive and activity was led by capital goods, banks, materials and food & beverage names.

Seylan Bank PLC launched an Avurudu campaign for Seylan Credit and Debit Cards with 300+ merchant partners, offering discounts, dining offers and 0% easy payment plans up to 36 months for transactions of Rs.100,000–3,000,000 (14 Mar–15 Apr 2026).

The Cabinet approved compensating fuel importers up to Rs.20/litre for 92 Octane petrol and up to Rs.100/litre for diesel, with Rs.20 billion allocated for the measure. It also froze fuel allowances for ministers, MPs and public officials at March 1, 2026 rates and said retail prices are expected to remain unchanged through April unless global prices rise sharply.

Headline inflation (CCPI) accelerated to 2.2% year-on-year in March 2026, up from 1.6% in February, the Central Bank said. Core inflation rose to 2.5% and the CBSL projects inflation will reach the 5% target in Q2-2026.

Unilever and McCormick agreed to combine Unilever Foods with McCormick to form a global flavours business with estimated FY25 revenues of $20 billion; Unilever will receive $15.7 billion cash and 65% of the combined equity, with completion expected by mid-2027 subject to approvals.

LankaPay partnered with Weixin Pay to enable cross-border Weixin Pay QR acceptance at LANKAQR merchants, allowing Weixin Pay users to pay at over 400,000 merchants across Sri Lanka. The move is intended to improve payment convenience for inbound tourists and support local merchants and tourism-sector receipts.

Dividend · Rs 0.85 · XD Apr 15, 2026

Fourth Interim dividend of LKR 0.85/share; XD 2026-04-15; record 2026-04-15; payable 2026-04-28; FY 2025/2026

Colombo CCPI headline inflation rose to 2.2% Y-o-Y in March 2026 (from 1.6% in Feb) with month-on-month growth of 0.25% driven by non-food/transport; core inflation eased up to 2.5%. The Central Bank projects inflation will reach the 5% target in Q2-2026 and remain around target thereafter.

Sri Lanka's inflation was 2.2% in March 2026; the monthly Colombo CPI rose 0.5% to 195.8 points, driven by a 0.27% decrease in food and a 0.52% increase in non-food items.

Singer Sri Lanka (SINS) has partnered with Kapruka Holdings (KPHL) to sell Singer's consumer electronics and homeware on Kapruka's Partner Central platform with a price-parity guarantee. The tie-up gives Singer access to Kapruka's delivery network and over one million expatriate customers.

Colombo Fashion Week will host the BRICS Fashion Summit (South Asian Edition) on April 3 during CFW Summer 2026 at City of Dreams Sri Lanka, featuring over 30 designers and international participants. The summit aims to open markets and deepen ties for designers and apparel supply chains across BRICS and South Asia.

Moose Clothing Company opened its third exclusive store at Galle City Centre, expanding its retail footprint beyond Colombo and Kandy. The store offers menswear, womenswear, kidswear and official cricket merchandise and aims to attract both local shoppers and tourists.

Associated Motorways (AMW) opened a new showroom at No. 262, Chilaw Road, Negombo, expanding its Western Province presence and offering Nissan and Suzuki models with onsite finance through AMW Capital Leasing & Finance.

The ASPI fell 1.33% (283.49 pts) to 21,092.24 as Colombo market opened lower amid rising oil prices and Mideast tensions; principal detractors included John Keells, NDB, Hayleys, Melstacorp and Commercial Bank while Lanka IOC and Browns Investments saw gains.

Asian Paints Causeway, in collaboration with Renner Italy, launched Aqlac Natural Dark Shades and introduced Renner's water-based wood coatings at a Lotus Tower event in Colombo, showcasing durable, low-emission wood finishes to dealers and industry leaders in Sri Lanka.

A government monitoring committee warned current fuel quotas are insufficient and could trigger price increases for essential goods ahead of the Sinhala and Tamil New Year; five CPC officials will be appointed to assess needs and a QR-code system for fuel issuance will be introduced.

Ambeon Capital (via subsidiary Ambeon Essentials) launched a voluntary offer to buy all Harischandra Mills shares at Rs.3,400 per share (equity value ~Rs.6.5bn); the SPA covers 51.11% (981,118 shares) at Rs.3.34bn and the offer will convert to a mandatory offer on acceptance.

Asian stocks slumped as Brent crude rose 3% to $115.98, bringing monthly gains near 60% and raising inflation and recession risks. Markets have priced in higher Fed tightening and sovereign yields have jumped, pressuring energy, manufacturing, logistics, retail and financial sectors.

Atlas Axillia Co. (Pvt) Ltd launched limited-edition "Aluth Avurudu Gift Packs" — curated stationery and learning kits for children — available at leading retail outlets and e-commerce channels from early April for the Sinhala and Tamil New Year.

Daraz Sri Lanka launched its Avurudu Wasi campaign (27 Mar–8 Apr) offering Rs.50 million in vouchers, free delivery and discounts up to 85%, plus Brand Rush Hour deals from 60 brands. Payment partners include Commercial Bank, Sampath Bank, DFCC and Nations Trust Bank, and Dialog is a participating brand.

Global Harvest (Pvt) Ltd has been appointed sole Sri Lankan importer and distributor for Canada's Tropical Link to supply Snow Farms dried berries (cranberries, blueberries, tart cherries), launching via Gusta and rolling out to supermarkets and HORECA in retail 120g and bulk packs.

Havelock City Mall launched the “Nostalgic Avurudu” seasonal programme running 21 March–12 April, featuring a recreated Avurudu Village, mall-wide discounts, giveaways, traditional games (4–5 Apr) and a market for local artisans (6–12 Apr).