News & market updates

Hayleys Mobility Limited launched three new-energy SUVs in Sri Lanka—the JAECOO J7 PHEV, JAECOO J6 and OMODA E5—offering EV and PHEV options with fast-charging, long ranges and multi-year warranties, backed by parent Chery Group.

COPE summoned LTL Holdings over ownership dilution and audit concerns, finding CEB’s stake fell from 70% to 35% after transfers to West Coast Power, Peradiv and Tepro, and noting LTL has refused Auditor General access since 2015; a full report was demanded.

WindForce PLC emerged as the lowest-cost bidder for Lot 1 of the 50MW Mullikulam Wind Power Project, though the formal award is still pending. The company said the outcome is price-sensitive and will make further disclosures after any official award or agreement execution.

Alpha Fire Services PLC appointed Menaka Athukorala as Non-Executive Chairman. He has over 30 years of experience in plantation management, renewable energy and corporate leadership.

BOI Chairman Arjuna Herath said high construction and energy costs are discouraging hotel investors in Sri Lanka by reducing yields. The government is reviewing tax structures, seeking to lower energy costs and promoting renewable generation through competitive CEB tenders.

BYD debuted the BYD RACCO K-EV and BYD SEALION 6 DM-i at the 2025 Japan Mobility Show, expanding its electric and plug-in hybrid lineup for Japan and saying it aims to launch seven to eight EV/PHEV models by 2027 while growing its local retail and commercial vehicle presence.

LAUGFS Power PLC launched its first AI-enabled annual report, integrating Futurity's Omni platform to provide natural-language interactive access to its two most recent reports and dashboard visualisations. Futurity will support the platform under an annual maintenance contract and the rollout may extend across the LAUGFS Group.

The Sri Lanka Economic and Investment Summit 2025 will be held 2–3 December in Colombo with international speakers and sponsors/partners including Sunshine Holdings, Dialog Axiata and Hayleys, focusing on reform, investment-led growth and topics such as clean energy, logistics and tourism.

Pan Asia Bank marked its 30th anniversary and 20 years since listing with a ceremonial bell-ringing at the Colombo Stock Exchange. The event highlighted the bank's focus on digital innovation, green financing and continued commitment to inclusive, sustainable growth.

Colombo Stock Exchange rebounded as the ASPI rose 0.39% (88 pts) to 22,777.12 with turnover around Rs 5.38bn and foreign investors net sellers of Rs 372.5m. Key movers included Windforce (+17.6%), Colombo Dockyard (-9.9%) and gains in LAUGFS Gas and Lanka Realty Investments.

Singer Finance and Hayleys Mobility signed an MoU to provide tailored financing for newly introduced electric vehicles in Sri Lanka, giving Hayleys customers access to NEV loans with priority processing, personalised assistance and promotional incentives.

Sri Lanka Customs collected over LKR 24 billion in a single day, the highest daily revenue on record. The article argues that free-visa policies and development of free ports (citing China's Hainan) could boost tourism and trade, and calls for investor-friendly laws, infrastructure and competitive readiness.

Colombo Stock Exchange rose with the ASPI up 0.39% to 22,777.12 as foreign investors bought a net 372.5 million rupees and turnover was 5.39 billion rupees. Windforce PLC, a top contributor, said it was the lowest bidder for a 50 MW wind plant in Mullikulam.

WindForce PLC (WIND.N0000) said it emerged as the lowest-cost bidder for Lot 1 of the 50MW Mullikulam wind power project in Mannar. The company said the award is pending final awarding procedures, regulatory approvals and negotiation of terms.

Sri Lanka will allow duty-exempt imports of capital goods for renewable energy generation and storage facilities of 1MW or larger, including battery energy storage, for new projects and extensions. The concession covers construction-phase imports and follows government adverts for BESS, wind and solar on BOO terms.

Vidullanka said it and consortium partner David Pieris Group were the lowest-cost bidder for the 50MW Mullikulam Wind Power Project; the formal contract award is still pending and the company called the outcome price-sensitive.

LAUGFS Power PLC (LPL.N0000) has launched an AI-enabled annual report using Futurity's Omni platform, providing interactive natural-language access to its two most recent reports and custom financial dashboards for investors and stakeholders.

The Overseas School of Colombo was named by UNESCO’s Greening Education Partnership as one of two exemplar Green Schools globally and renewed its Eco-Schools Green Flag accreditation, showcasing campus initiatives such as a bio-gas plant, composting and farm-to-table programs.

Brandix launched its 10th Sustainability Report for 2024/25 and set a target to reach Net Zero Carbon across all locations by 2030 (current 37%). The report says 90% of solid waste is recycled and 65% of Sri Lanka facilities use solar power, targeting 100%.

Sri Lanka held a "Business & Tourism Opportunities in Sri Lanka" forum in Brussels on 13 October 2025 to promote trade, investment and tourism, highlighting opportunities in tourism, pharmaceuticals, F&B, ICT, renewable energy and exports such as tea and coconut products.

Vidullanka (VLL.N0000) and consortium partner David Pieris emerged as the lowest cost bidder for the 50MW Mullikulam wind power project, the company said, with the formal contract award still pending.

Vidullanka submitted the lowest bid of 3.77 US cents/kWh for the Ceylon Electricity Board's 2×50 MW Mullikulam wind tender; Windforce bid 3.96, Hayleys 4.17, ACL 4.33 and Aitken Spence 4.805. Bids are below the prior 4.65 cents award and reflect efforts to cut generation costs amid a weak rupee.

UNDP Sri Lanka urged the government to mobilise large-scale private climate finance and strengthen institutional coordination at the launch of the National Climate Finance Strategy, noting mitigation needs exceed $10 billion for 2021–2030. It called for de-risking, regulatory reform and integration with development goals to attract investors.

Colombo Stock Exchange closed down as the ASPI fell 0.44% to 22,689.22 with turnover Rs6.19bn. Top contributors included Colombo Dockyard, Ceylinco Holdings, Vidullanka, Lanka Realty Investments and C M Holdings, and several energy names (eg. Vidullanka, WindForce) saw investor interest.

Malik Fernando formally assumed the role of Austria's Honorary Consul in Sri Lanka after presentation of credentials at a reception in Colombo, pledging to boost bilateral cooperation with a focus on renewable energy, digital transformation and tourism infrastructure.

NDB Bank signed an MoU with Gavinro International to provide EV passenger and commercial vehicle leasing and tailored financing, including refinancing for Skywell vans and buses and tourism loans up to Rs.25 million at a 7% interest rate.