News & market updates

Overseas Realty (Ceylon) PLC reported Group Profit Before Tax of Rs. 9,266 million for the year ended 31 Dec 2025, with Group revenue of Rs. 11,944 million, a 49% increase year-on-year. Growth was driven by higher apartment sales, increased rental income and a Rs. 3,223 million fair value gain on investment properties, while LKR depreciation caused a Rs. 511 million net exchange loss.

Cabinet approved procurement of 75 motor graders from United Tractors and Equipment Ltd for Rs. 1,424.25 million (exclusive of VAT) to support government infrastructure development programs.

Dividend · Rs 1.20 · XD Apr 2, 2026

First And Final dividend of LKR 1.2/share; XD 2026-04-02; record 2026-04-05; payable 2026-04-24; FY 2025

Prime and Melwa acquired a four-acre marina-front land parcel in Port City Colombo for $57.6m to build an ultra-luxury apartment development with estimated total turnover of about $250m. The USD-denominated project will be developed by joint venture Prime Melwa Port City Ltd. and is expected to finish within four years.

IMF Resident Representative Dr. Martha Woldemichael said sustaining reform momentum is critical for Sri Lanka to move from crisis stabilisation to transformation, noting four of eight EFF reviews completed and about $1.74bn disbursed. She urged trade liberalisation, digitalisation, labour-market reform, fiscal credibility and Central Bank independence to bolster investor confidence; reserves stood at $6.8bn and inflation was 2.3% YoY in Jan 2025.

United Tractors & Equipment (Private) Limited was awarded a Rs. 1,424.25 million (ex-VAT) contract to supply 75 motor graders to government development programmes after winning a national competitive bidding process approved by Cabinet on Oct 21, 2025. Five bids were received and the award followed the High-Level Standing Procurement Committee's recommendation.

Colombo market ended marginally higher with the ASPI up 0.04% (9.38 pts) at 23,783.02 and the S&P SL20 up 0.11% at 6,728.71, on turnover below Rs.2.6bn; foreign investors were net sellers of Rs.52.8m. MELS, RICH, PLR, COMB and HNB were key positive contributors and the banking sector led turnover (17%).

Prime Group and Melwa Conglomerate acquired a four-acre marina-front parcel in Port City Colombo for USD 57.6 million to develop an ultra-luxury apartment project with estimated turnover of about USD 250 million, slated for completion within four years.

The SEC and SLAASMB signed a Memorandum of Understanding to formalize cooperation on oversight of financial reporting and auditing for SEC‑licensed entities, including listed companies, establishing information‑sharing, referrals and joint awareness initiatives.

The Wildlife and Nature Protection Society says construction of the proposed Jaffna International Cricket Stadium on Mandaitivu Island by Sri Lanka Cricket has proceeded without required IEE/EIA approvals, with earth-moving machinery and materials on site. WNPS warns the site is environmentally sensitive (mangroves, seagrass, flood-retention) and that works risk increased flood and ecological damage.

Cabinet approved a revised reimbursement framework to expand 4G broadband, reimbursing service providers the lower of Rs.35 million per tower or 75% of actual construction costs to accelerate nationwide telecom tower rollout. To date 83 towers have been built to serve previously underserved areas.

Dongfeng Trucks launched in Sri Lanka on Feb 17 through a partnership with Euro Motors (a subsidiary of Euro Holdings), introducing a range of commercial vehicles for logistics, construction, garments and other sectors. Euro Motors will provide island‑wide service and spare parts support to customers.

St. Anthony’s launched Blackwood, a range of luxury engineered doors for Sri Lanka made in partnership with VK Engineering and available via HOMEMART and authorised distributors. The factory-sized doors use German Sauerland cores and European LVL to improve durability, sizing and reduce on-site rework.

Hayleys PLC won the Gold Award for Overall Excellence in Corporate Reporting at CA Sri Lanka's TAGS Awards 2025 for the fourth consecutive year, with the Group securing 21 awards including 14 Golds. Several listed firms on the shortlist also won sector awards, including Haycarb, Kelani Valley, Singer, Dipped Products, Alumex, Talawakelle, Horana and Kingsbury.

DealBook.lk, a joint venture between Frontier Capital Partners and Asia Capital Global Solutions, has launched as a digital marketplace to connect global capital with Sri Lanka's private-market corporate deals. The platform targets arrangers, investors and founders across infrastructure, energy, agriculture, healthcare and technology.

Belluna Lanka and Sanken Overseas will invest about Rs.4 billion (US$12.5m) to develop the 60-key Granbell Hotel Ella in Uva Province. Sanken will co-invest and act as turnkey contractor, with construction from mid-2026 and completion targeted for 2028.

BITUMIX (Private) Limited marked its 25th anniversary, highlighting its role as a leading bitumen supplier and a vertical of Wardena Venture Holdings in Sri Lanka's infrastructure sector. The company noted resilience through price and FX pressures and reaffirmed commitments to sustainable infrastructure and exploring export opportunities.

IMF Managing Director Kristalina Georgieva visited cyclone-hit Mawathura and noted the IMF Executive Board’s December approval of $206 million in Rapid Financing Instrument emergency assistance to Sri Lanka to support immediate reconstruction and balance-of-payments needs. The one-off funding is provided without ex-post conditionality.

Belluna Lanka and Sanken Overseas have launched Project Granbell Hotel Ella, a planned LKR 4 billion (USD 12.5m) 60-key hotel in Uva Province with construction due to start mid-2026 and completion targeted for 2028. Sanken will co-invest and act as turnkey contractor, with the project positioned to support regional tourism and local employment.

Cabinet approved phase II of the Colombo Urban Regeneration Project with $158 million in AIIB funding to construct 4,074 housing units across six Colombo schemes. Eligible low-income households will pay Rs.350,000 plus a Rs.50,000 maintenance deposit, and the government will cover deed registration and transfer costs.

President Anura Kumara Dissanayake said UK Deputy PM David Lammy's visit reinforces international confidence and welcomed the UK's decision to grant zero-tariff access for Sri Lankan textile exports. He flagged tourism, exports and FDI as priority areas, urged sustained forex inflows and outlined post-Cyclone Ditwah reconstruction measures.

Chinthaka Jayaweera was appointed Independent Non-Executive Director of Ceylon Guardian Investment Trust (GUAR.N0000) and Ceylon Investment PLC (CINV.N0000). He previously led internal audit at A.P. Moller Maersk and has held independent directorships at Bukit Darah, Carson Cumberbatch, Equity Two and Pegasus Hotels.

Macktiles launched Macktiles Australia in Victoria, entering the Australian market; the Sri Lankan turnkey tile maker reports production capacity of 44,000 sq m/day and about 40% local market share. It already exports to the US, Saudi Arabia, Nigeria, Kenya, the Maldives and Indonesia and opened its 50th showroom in 2025.

IMF Managing Director Kristalina Georgieva visited cyclone-affected communities including Mawathura and Gampola to inspect landslide and storm damage and reaffirm IMF support for recovery. She urged steps to stimulate economic activity and improve housing and livelihoods, linking recovery to Sri Lanka's reform agenda.

The ASPI fell 0.07% to 23,882.82 in a volatile session with turnover of Rs.4.2bn and foreign net outflow of Rs.42.3m. Leading negative contributors were CTHR, PABC, DIMO, DFCC and RICH, while Softlogic Capital and Prime Lands led turnover.

The 2026 amendments to the Colombo Port City Economic Commission Act clarify governance and regulatory frameworks, streamlining CBSL oversight for Port City banking and setting clearer rules for Businesses of Strategic Importance. Two land leases were signed in Jan 2026 for a luxury marina residential and a mixed-use development.

Prime Lands Residencies PLC reported 3Q (ended 31 Dec 2025) revenue up 43% y/y to Rs. 2.80 billion and profit after tax up 144% y/y to Rs. 562.3 million. Gross profit rose to Rs. 1.05 billion and EPS was Rs. 0.60, driven by accelerated construction and first-time revenue from The Seasons Colombo 08.

Lee Hedges PLC (SHAW.N0000) has appointed Mohan Ratnayake as an Independent Non-Executive Director. Ratnayake is a CIMA fellow with experience in tea exports and plantations, chaired the committee for SLT's USD bond issuance, and holds/directs roles at several listed companies.

IMF Managing Director Kristalina Georgieva is visiting Gampola today to assess damage from Cyclone Ditwah and will meet the president, prime minister and Central Bank governor in Colombo to discuss IMF assistance for rebuilding and strengthening Sri Lanka's long-term resilience.

Government issued new Strategic Development Projects regulations granting tiered corporate tax holidays (generally 5–10 years) with investment thresholds starting at >$50m and import-duty/VAT/PAL/CESS exemptions during implementation. Categories cover infrastructure/tourism, manufacturing and agriculture/ICT; motor vehicles excluded.