News & market updates

Vidullanka PLC swept the Taiki Akimoto 5S Awards 2025 in the small category, winning Gold, Silver and Bronze and receiving additional merit awards for its mini-hydro plants. Kothmale won Gold, Batatota Silver, Wembiyagoda Bronze; Madugeta and Rideepa received merit awards (Rideepa's for CSR/sustainability).

Abans Group Director Dr. Saroshi Dubash received the 'Visionary Leadership in Organizational Excellence' award at the 15th Top 50 Professional & Career Women Global Awards on 9 October 2025.

Deutsche Bank reaffirmed its 45-year commitment to Sri Lanka and said it will support the recovery by providing corporate and investment banking, trade finance, foreign-exchange services and assistance to re-engage with global capital markets.

Assetline Finance PLC opened its 60th branch in Ja-Ela, expanding its network to 60 branches and over 2,500 touchpoints nationwide. The new branch offers its full suite of products, including automotive leasing, loans, fixed deposits and solar financing.

WindForce PLC acquired a 51% stake in Safe Power for LKR 535.5mn to develop a 10 MW wind farm in Alankuda; total project cost LKR 4.2bn to be financed 75:25 debt-to-equity, with WindForce equity LKR 535.5mn (LKR 231mn paid at signing).

Hayleys Fentons (Hayleys Group) launched Hayleys Mobility to distribute OMODA, JAECOO and SRM new-energy vehicles in Sri Lanka and expand EV charging infrastructure via a partnership with StarCharge.

Hayleys PLC reported record FY2024/25 consolidated revenue of Rs.492.2 billion (up 13%) and profit after tax of Rs.22.5 billion (up 52%). The group was named No.1 in the LMD 100 for the 10th time, retained Fitch 'AAA (lka)', earned USD 685m in exports and sources 74% of energy from renewables.

Hayleys PLC ranked No.1 in the LMD 100 and reported record FY2024/25 consolidated revenue of Rs.492.2 billion (13% YoY), PBT Rs.35.4 billion (+40%) and PAT Rs.22.5 billion (+52%). Exports were $685m (53% of revenue), 74% of energy from renewables and Fitch retained a 'AAA (lka)' rating.

The Islamic Finance Forum of South Asia celebrated its 10th edition and presented awards to 20 institutions across 30 categories; NDB won Deal of the Year (Gold) and, with Vidullanka, received a First Listed Sukuk award (Silver), Seylan Bank won Deal of the Year Silver for a 10MW solar project, and L B Finance won ESG and digital product awards.

Hatton National Bank (HNB) joined a consortium of global lenders in an oversubscribed USD 1.0 billion sustainability-linked syndicated term loan for Aster Chemicals & Energy Pte Ltd, upsized from an initial USD 700m. Proceeds are tied to GHG intensity reduction targets and will fund asset rejuvenation and general corporate purposes.

LAUGFS Power (LPL.N0000) appointed Russell De Zilva as CEO and Non-Independent Director. De Zilva brings 20+ years in renewable energy and is currently Joint CEO of Vallibel Power Erathna (VPEL.N0000), with experience in hydropower, wind, solar and floating solar projects.

Voyage Sri Lanka 2025, an international marine summit, will be held on 16 October 2025 at The Kingsbury in Colombo with four days left to register; Seylan Bank is the official banking partner and Lanka IOC is a silver sponsor. The event will focus on shipbuilding, offshore services, offshore wind, fisheries and nautical tourism.

Sri Lanka's apparel sector reported notable sustainability progress, with Teejay Lanka expanding renewable energy to 14% of consumption and Hayleys Fabric PLC publishing its GreenCatalyst ESG Roadmap 2030 highlighting circularity and climate action.

AIIB will provide $52 million in sovereign financing to Sri Lanka for the Kerawalapitiya–Port L second 220kV underground transmission line to strengthen power transmission and enable evacuation of renewable energy to Greater Colombo. The project aims to improve grid stability, meet rising demand in the Greater Colombo area and support the upcoming special economic zone.

WindForce has acquired a 51% stake in Safe Power International to develop a Rs. 4.2 billion 10MW wind project in Puttalam. The project will be financed on a 75:25 debt-to-equity basis and Arinma Power will hold the remaining 49%.

WindForce PLC has acquired a 51% stake in Safe Power International to develop a 10 MW wind power project in Alankuda with an estimated cost of LKR 4.2 billion. The project will be financed 75:25 debt-to-equity and Arinma Power holds the remaining 49%.

Sri Lanka's renewable power share fell to 66% in July from 73% in June as total generation rose to 1,583 GWh and fuel oil use jumped to 103 GWh. The Ceylon Electricity Board has sought a tariff increase for the rest of 2025 and is tendering for batteries, offering a 45.80 tariff for battery-stored night-peak supply.

SLEIS 2025 Day 2 will host a 'Why Sri Lanka – Investor View' session with IFC South Asia Director Imad Fakhoury and a panel including Axiata, Variosystems, Unilever Sri Lanka and CHEC Port City to discuss attracting strategic investment, export expansion and private-sector-led growth.

WindForce PLC acquired a 51% stake in Safe Power International to develop a 10 MW wind project in Alankuda, Puttalam, with an estimated investment of LKR 4.2 billion financed 75:25 debt-to-equity. A Shareholder Agreement was signed on 3 October 2025 and WindForce said the project will support its future earnings and sustainability objectives.

AIIB president Jin Liqun said the bank is keen to promote Sri Lanka's green energy sector and will focus future support on green energy and green transportation while ensuring energy stability.

AIIB will provide USD 52 million in sovereign-backed financing to Sri Lanka for the Kerawalapitiya–Port L Second Transmission Line Project. The project will install a 220kV single-circuit underground cable linking Kerawalapitiya to Colombo Port L to improve grid stability and enable evacuation of renewable energy into Greater Colombo.

AIIB President Jin Liqun told President Anura Kumara Dissanayake that AIIB will continue supporting Sri Lanka, focusing future financing on green energy, green transportation and ensuring energy stability. The meeting also covered lower interest rates, plans for AI-driven digitalisation, a proposed data centre and productivity programs in agriculture and fisheries.

The Public Utilities Commission of Sri Lanka will hold a public consultation today at BMICH (9:00am, registration 8:30am) to review the proposed 2025 electricity tariff structure and gather consumer and stakeholder feedback.

J.F. Packaging (JFP.N0000) is preparing for an IPO in 2025 after expanding through acquisitions and vertical integration under MD K.P. David. The company is expanding PET and paper canister capacity, specialty film extrusion, sustainability initiatives and exploring AI-driven quality assurance; Lankem Ceylon (LCEY.N0000) is the parent.

CEAT Kelani Holdings received ISO 14064-1:2018 certification for quantification and reporting of greenhouse gas (GHG) emissions. The company has measured Scope 1, 2 and relevant Scope 3 emissions and supports reductions through a 2.4 MW solar plant (offsetting ~21% of plant consumption) and a planned 1 MW rooftop project.

Lanka Ventures PLC and LVL Energy Fund PLC have appointed HNB COO Sanjay Wijemanne as a Non-Independent Non-Executive Director.

Ceylinco Life’s Green Club reported H1 2025 sustainability outcomes: 573 kg e-waste collected, 5,000 trees planted, 581,984 kWh solar energy generated, 1,463,000 L rainwater harvested and 660,000 L recycled. The company has 30 green branches and plans to plant 10,000 trees at Rajawaka Reserve.

John Keells CG Auto (part of John Keells Holdings, JKH.N0000) will introduce DENZA luxury new-energy vehicles in Sri Lanka and has opened pre-bookings from October 1. The DENZA lineup includes the D9 MPV and B8/B5 plug-in hybrid models after an MoU signed in June.