News & market updates

Ceylon Land & Equity PLC proposed a 2-for-1 rights issue to raise Rs.4.3 billion at Rs.7 per share (record date 5 Mar 2026). Proceeds will repay Rs.1.7b of short-term borrowings (including Rs.750m to HNB), fund Rs.1.75b into Galle Face Icon project and Rs.702m into Cargo Boat.

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.

IMF Managing Director Kristalina Georgieva arrived in Sri Lanka for a three-day visit to assess Cyclone Ditwah damage and to discuss post-disaster recovery and adapting the country's Extended Fund Facility with the president, prime minister and central bank governor.

WindForce secured Letters of Award for 12 standalone BESS projects totalling 120 MW/480 MWh with a combined investment of Rs. 20.79 billion under Sri Lanka’s first grid-scale standalone BESS program. Projects are to be developed on a 15-year BOO basis (80:20 debt-to-equity); WindForce will hold 100% in 11 sites and 50% with Vidullanka at Vavunathivu.

Prime Lands Residencies PLC won the Silver Award in the Land and Property Companies sector at the TAGS Awards 2025. It is the fourth consecutive year the company has been honoured, highlighting its corporate reporting, transparency and sustainability practices.

Sri Lanka and Japan signed a Memorandum of Cooperation to formalise economic policy dialogue and to pursue a roadmap including an industrial economic corridor with a working group to operationalize it. Presentations covered foreign investment policy, export capacity and JETRO and Japanese firms shared insights on the business environment.

WindForce was awarded 12 standalone BESS projects (120 MW / 480 MWh, ~LKR 20.79bn) and Vidullanka secured the 10 MW / 40 MWh Vavunathivu project (~LKR 1.73bn) under CEB's first grid-scale storage programme. Projects are BOO with a 15-year operating period and ~80:20 debt-to-equity financing; WindForce will fully own 11 projects and partner with Vidullanka on Vavunathivu.

CWEIC Chairman Lord Jonathan Marland met Sri Lanka’s Secretary to the Treasury Dr. Harshana Suriyapperuma to discuss strengthening economic cooperation and attracting increased foreign direct investment to support growth, jobs and infrastructure; CWEIC pledged full support and both parties agreed to continue engagement.

IMF Managing Director Kristalina Georgieva arrived in Sri Lanka (Feb 16–18, 2026) to meet government officials, assess Cyclone Ditwah damage and discuss IMF support for recovery and building greater resilience.

Prime Lands Residencies PLC (PLR.N0000) reported Q3 FY2025/26 revenue up 43% y/y to Rs. 2.80 billion and profit after tax up 144% y/y to Rs. 562.3 million. Growth was driven by accelerated construction progress (Tower C topping off) and first-time revenue from The Seasons Colombo 08; nine-month PAT rose 68% to Rs. 1.50 billion.

CSE reports ASPI rose 269% from 6,129.21 in 2020 to 22,624.31 at end‑2025 (24.32% CAGR), with record ASPI, S&P SL20 and market cap above LKR 8.46bn in Jan 2026. The exchange cites 25 new 2025 listings, multiple new bond instruments (Blue, Green, Sharia, High Yield Social Sustainability, Orange) and plans to use infrastructure/municipal bonds to fund cyclone recovery and long‑term projects.

The Board of Investment will host the Sri Lanka Investment Forum 2026 on 30 March at Cinnamon Life, Colombo, focusing on green transition and sector-led investments including renewable energy, green finance, services, manufacturing, infrastructure and leisure. The EU, ADB and ESCAP are supporting the event, which includes parallel sector sessions and a closed-door EU–SL investor dialogue.

Macktiles has launched Macktiles Australia in Victoria as part of a deliberate internationalisation push; the company cites a manufacturing capacity of 44,000 sqm/day and a reported 40% share of the Sri Lankan market. The move extends its global footprint and showroom network, now 50 locations.

Lankem Ceylon PLC expanded its partnership with Axalta Coating Systems to introduce advanced industrial, marine and powder coating solutions across Sri Lanka. The move targets infrastructure, energy, agriculture, heavy equipment, rail and steel sectors to improve corrosion protection and reduce maintenance needs.

IMF Managing Director Kristalina Georgieva will visit Sri Lanka from Feb 16–18, 2026 to meet government officials, assess Cyclone Ditwah damage, and discuss IMF support for recovery and resilience efforts.

ADB's new Country Director reaffirmed the Bank's continued commitment to support Sri Lanka, including sustained assistance, budgetary support and planned investments from 2026, with a focus on post-Cyclone Ditwah recovery and reconstruction. The President stressed the need for environmental restoration in the Central Highlands.

Government aims to provide universal high-speed broadband by 2029 and says 600–1,000 additional telecom towers will be required; 100 new towers are scheduled this year and capacity must rise about 25%. A commercial model for tower deployment will be developed with private-sector bidding.

President Dissanayake announced a plan to rapidly revitalize the transport sector and introduce the Lanka Metro Transit bus service, with buses expected by August for a pilot on six main Colombo-area corridors. The plan also includes bus cluster companies, multimodal hubs, rail upgrades and digital systems.

Sri Lanka and Thailand finalized draft MoU and an Agreement to recruit 10,000 Sri Lankan workers for sectors including construction, agriculture, food & beverage, industry, education, aquatic processing and mining; drafts will go for government approvals and a ministerial signing is expected in Q1 2026.

Sinopec opened three upgraded fuel stations and one new Sinoceylon filling station in Anuradhapura, featuring Clean Sri Lanka-compliant facilities, a Clear Spring water-filtration unit at New City Lanka, and training programs covering over 300 station staff.

Prime Constructions (Pvt) Ltd secured the C1 grade from the Construction Industry Development Authority in 2.5 years, enhancing its credibility and competitiveness for large-scale bids. The grading reflects its assessed financial strength, technical capacity, staffing and project experience.

Home Lands launched four new resort apartment projects totaling 1,000 units in Greater Colombo. Five partner banks (Commercial Bank, HNB, Sampath, NDB and DFCC) are supporting the Home Lands Wealth Builder payment plan, offering flexible financing including up to 100% funding.

Sinopec completed three upgraded stations and one new filling station in Anuradhapura, expanding its retail network into the North Central Province. The sites comply with Clean Sri Lanka standards and include water-filtration at New City Lanka, upgraded washrooms, safety improvements and staff training.

ADB reaffirmed continued long-term support for Sri Lanka and formally introduced new Country Director Shannon Cowlin, focusing on post-Cyclone Ditwah recovery, resilience and ecosystem restoration in the Central Highlands, with planned investments and budgetary support from 2026 onward.

Treasury Secretary said Sri Lanka has agreements covering nearly 99% of external debt and has restructured over 92%, cutting public debt to about 105% of GDP and is expected to secure an additional $350m from the IMF after the fifth review. Cyclone Ditwah caused $4.1bn in damage (with $1.62bn needed in 2026) and recovery spending has been incorporated into the 2026 Budget without derailing fiscal consolidation.