News & market updates

ADB raised Sri Lanka's allocation for this year to $480m (up from $380m) and will promptly release $200m. The Cabinet has approved plans to secure $620m for five sub-programs covering trade/industrial development, MSME finance, water/sanitation rehabilitation, resilience and agricultural value-chain support.

Commercial High Court of Colombo issued interim injunctions preventing Blue Ocean Legand Ltd, Blue Ocean Waves and Link Engineering (affiliates of Blue Ocean Group) from cancelling the master agreement or alienating 13 condominium units at 19th Lane, Colombo 3; the transaction is valued at ~Rs.477.9m (including Rs.277m debt set‑off and ~Rs.191m for steel).

ROKY Holdings marked its third anniversary on 1 March and donated a water filtration system to a Pelmadulla school; the company also operates a Reverse Osmosis plant in Vavuniya with capacity up to 100,000 litres per day.

Lee Hedges PLC will acquire 100% of Lanka Realty Developments for Rs.3,157,518,000 in a two-part transaction (Rs.1,610,334,180 from Lanka Realty Investments and Rs.1,547,183,820 from Eighth Wonder). The deal is classified as a related-party transaction and is subject to shareholder approval.

A Rs. 520 million, three-storey textile training complex at the Sri Lanka Institute of Textile & Apparel (SLITA) opened in Ratmalana. The facility includes a 150-computer CAD lab, art and fashion studio, auditorium and library to strengthen skills for the export-oriented garment sector.

ADB President Masato Kanda began a three-day visit to Sri Lanka to deepen economic cooperation, review development financing and macroeconomic stabilisation, and assess Cyclone Ditwah damage. He toured Colombo Port, will meet the president and private sector, and will review project pipelines and recovery needs.

Commercial Bank of Ceylon has begun renovation of Ward No.03 at De Soysa Hospital for Women, which handles about 2,500–3,000 deliveries and 4,000–5,000 admissions annually. The project is funded and implemented by the bank's Social Responsibility Trust as part of its Women’s Month initiatives.

Focus Reliance Holdings won Best Microfinance Provider at the Global Business Excellence Awards 2025 and the Microfinance Leader Award at the People’s Excellency Awards 2024 for its microfinance services. The private firm offers diverse microfinance products and has expanded into distribution and retail with an FRH supermarket in Pitakotte.

ADB President Masato Kanda led a delegation to the Sri Lanka Ports Authority and Port of Colombo on 23rd to review ongoing development projects and port operations. Discussions focused on project progress, improving delivery timelines, operational efficiency and strengthening ADB collaboration.

Sri Lanka recorded 5% GDP growth in 2025, with GDP surpassing $106.8bn; the services sector contributed 54.6% and industries 25.4%, while tourism and construction were cited as significant contributors to the recovery.

ADB President Masato Kanda arrived in Colombo to push private sector–led recovery, saying the ADB will support Sri Lanka by strengthening infrastructure and connectivity and mobilizing investment.

ADB President Masato Kanda arrived in Sri Lanka for a three-day visit to strengthen economic cooperation and assess Cyclone Ditwah damage, including touring Colombo Port and inspecting affected areas in Kegalle. He will meet the President and private-sector representatives to discuss recovery and development financing.

WindForce (WIND.N0000) was awarded a 10 MW/40 MWh grid-scale BESS project in Panadura on 20 March 2026, the company's 13th under Sri Lanka’s national BESS programme. The 15-year BOO project will be fully owned by WindForce with an estimated investment of ~Rs.1.73 billion financed by debt and equity, supporting grid stability.

WindForce PLC has been awarded a contract to build a 10 MW/40 MWh standalone BESS in Panadura for 1.73 billion rupees under a Build–Own–Operate model. The company will hold 100% equity, finance it on an 80:20 debt-to-equity basis, and the 15-year project raises its BESS portfolio to 13 projects.

Port City Colombo is proposed as a strategic South Asian hub aimed at driving construction and infrastructure development and boosting trade, tourism and IT-enabled services in the region.

Marlbo Trading showcased FLIR thermal and acoustic imaging technologies at the INCO 2026 exhibition, demonstrating tools for early fault detection and energy-efficiency across construction, utilities and manufacturing.

Marlbo Trading will showcase FLIR thermal and acoustic inspection technologies at INCO 2026 (13–15 March, BMICH), demonstrating tools for early fault detection and leak identification across construction, utilities and manufacturing.

SLT-MOBITEL restored Morakewa Vidyalaya and Thuruvila Primary School damaged by Cyclone Ditwah and reopened the refurbished facilities in February 2026, allowing hundreds of students to return to safe classrooms.

University of Sri Jayewardenepura has established the Centre for Fire Safety Engineering, backed by a Rs. 169.98 million research grant and nearly Rs. 100 million additional investment for laboratory construction. The centre offers full-scale fire testing, research, education and support for national building safety standards.

Speakers at an OPA seminar warned the Middle East conflict will raise global energy prices, strain fuel supplies (fuel ≈20% of Sri Lanka's import bill), and hit tourism and remittances (≈40% from the Middle East), urging price reforms, renewables, maritime and cyber security upgrades.

Asian Paints Causeway won the top category at the Effie Awards Sri Lanka 2025 for its 'AquaSafe' SmartCare marketing campaign, credited with repositioning the waterproofing product (2x superior elongation, resistance to algae/fungi, withstands up to 3 bars) and expanding its premium exterior market footprint.

Colombo Stock Exchange closed up Friday with the ASPI +1.85% at 20,639.73, though the market is down 4.85% from last Friday. Turnover was Rs.4.39bn led by capital goods; top contributors included Sampath Bank, Hayleys, Colombo Dockyard, Melstacorp and John Keells, and Lanka Realty Investments said it will sell 57,204,262 shares to subsidiary Lee Hedges.

Home Lands Group has delivered 3,500 residential units across its completed projects. The group now manages over 6,000 units, with more than 2,500 units under construction due for delivery between 2026 and 2028.

An IMF team will visit Colombo from March 26 to April 9, 2026 to conduct combined fifth and sixth reviews of Sri Lanka’s EFF, and completion could unlock about US$700 million in tranches. The reviews follow delays due to Cyclone Ditwah and will cover fiscal response, monetary policy and financial-sector stability.

Lanka IOC's Lanka OIC unit (LIOC.N0000) is part of the India–UAE–Sri Lanka tripartite plan to renovate the Trincomalee oil tank farm to expand storage; Sri Lanka has allocated about Rs.32 billion over 3 years and aims to raise storage from ~25–35 days to ~60 days.

SLIA and Foxygen hosted 'Foxygen Café: The Architects Room' at BMICH, a day-long forum presenting a vision for 2030 for the architecture and construction industry. Sessions covered market research, Materials of the Future, BIM, VR and AI in design with local and international speakers.