News & market updates

JF Packaging Limited's IPO was oversubscribed 6.3x, receiving LKR 3,785 million in subscriptions against a LKR 600 million target for 51,724,144 shares at LKR 11.60; the company will use proceeds mainly to repay term and working capital loans.

Lion Brewery (LION.N0000) took delivery of 44 new Suzuki FRONX SUVs from Associated Motorways, with financing facilitated by Central Finance (CFIN.N0000).

CSE extended its post-Budget rally as the ASPI rose 0.34% to 23,582.16 with turnover topping Rs.8.2bn; RICH, DIAL, DFCC, AEL and HNB were key positive contributors. Foreign investors were net buyers (Rs.26mn) and capital goods led activity (28% of turnover) while banking and F&B accounted for 35%.

CBL Foods International, a subsidiary of CBL Group, won the Global Performance Excellence Award (GPEA) 2025 – Best in Class from the Asia Pacific Quality Organisation at its 30th International Conference in Beijing. The company also received the APQO International Best Practice – Silver Award and plans further digital transformation, sustainable manufacturing and global expansion.

The Sri Lanka–Korea Business Council held its 30th AGM; Shamil Mendis was elected President and the meeting emphasised deepening Korea–Sri Lanka economic cooperation and opportunities in tourism, exports, port development, manufacturing and digital/AI sectors.

President Anura Kumara Dissanayake's 2026 budget frames IMF-linked reforms to stabilise recovery, citing 4.8% growth in H1 2025 and reserves above $6bn while aiming to bring debt below 90% of GDP by 2032. It advances FDI-friendly rules, PPPs, SOE reform, tariff liberalisation and a $15bn digital push, keeps cost-reflective energy pricing and VAT changes, and includes measures that could hurt plantations and small businesses.

Spa Ceylon unveiled 'Orchid Paradise', a three-day immersive experience at Colombo City Centre (7–9 Nov 2025) and pledged that a percentage of proceeds from its limited-edition Orchid Paradise festive collection will support conservation of Sri Lanka's native and endangered orchids.

CBL Foods International, a subsidiary of CBL Group, won the Global Performance Excellence Award (GPEA) 2025 – Best in Class and the APQO International Best Practice Silver Award at APQO’s 30th conference in Beijing. The company said it will focus on digital transformation, sustainable manufacturing and global market expansion.

Hemas Consumer Brands was named the “Overall Winner” at the JASTECA Awards 2025 for operational excellence. The award recognises HCB’s adoption of Japanese 5S and Kaizen practices and its employee-driven lean improvements (reportedly 20–30 ideas generated daily).

The Sri Lanka–Korea Business Council held its 30th AGM where Shamil Mendis was elected president and Korea's Ambassador Miyon Lee urged deeper trade and investment ties, citing opportunities in port development, food exports, manufacturing and digital/AI. The council highlighted initiatives to boost collaboration and market access.

Odel PLC's GLOMARK launched the 'ගෙට BETTER LIFE' wellness-focused rebrand, repositioning the supermarket from premium to purpose-driven, wellness retail. The relaunch includes educational product curation and a wellness-themed children's storybook to promote healthy eating.

Hemas Consumer Brands was named "Overall Winner" at the JASTECA Awards 2025 for national operational excellence, recognised for its adoption of Japanese 5S and Kaizen practices. The company says employees generate 20–30 improvement ideas daily, reflecting a strong bottom-up lean culture.

New Anthoney’s Group is investing an additional Rs. 500 million to expand its value-added chicken range and launch the premium Chicken Havens line, targeting a fourfold increase in value-added production capacity within six months. The expansion targets HORECA and retail channels, incorporates European processing technology, and aims to grow exports.

Dividend · Rs 17.00 · XD Nov 19, 2025

First Interim dividend of LKR 17/share; XD 2025-11-19; record 2025-11-19; payable 2025-12-09; FY 2025/26

Hemas Holdings (HHL.N0000) reported cumulative earnings of Rs. 3.3 billion for the six months to 30 Sep 2025, up 32.5% year-on-year. Growth was driven by revenue increases across divisions, a 78.9% drop in net interest cost, and the group announced a conditional Kenya acquisition plus expansion of Thalawathugoda hospital.

CIC Holdings reported consolidated revenue of Rs. 41.6 billion and PAT of Rs. 3.25 billion for 1HFY26, up 7.2% and 14.7% YoY respectively. Growth was driven by margin recovery and strong performances in Crop Solutions (40% of revenue), Livestock and Health & Personal Care; EPS rose to Rs. 6.86 and total assets reached Rs. 98.6 billion.

Hemas Holdings reported 1H FY26 earnings of Rs. 3.3 billion, up 32.5%, driven by a strong 2Q where consolidated earnings rose 36.6% to Rs. 2.1 billion. The group announced a conditional acquisition of a Kenyan consumer products company and a Rs.0.25 first interim dividend, subject to regulatory approvals.

Ceylon Federation of MSME president Mahendra Perera criticised Budget 2026's cut of the VAT registration threshold from Rs.60m to Rs.36m (effective April 2026), warning it will push small retailers into the tax net and raise consumer prices. He also said many MSMEs face liquidity challenges and lack access to loans for NPLs.

HNB Investment Bank acted as financial advisor and manager to JF Packaging's IPO, which was over six times oversubscribed, raising Rs.3.7 billion against a Rs.600 million target; the issue was priced at Rs.11.60 per share.

CIC Holdings PLC reported consolidated revenue of Rs.41.6 billion for 1HFY26 and PAT rose 14.7% YoY to Rs.3.25 billion. Crop Solutions accounted for about 40% of revenue and group EBIT increased 18.6% to Rs.5.7 billion, with broad-based segmental profit growth.

SLYCAN Trust hosted a 'Plant-Based Gastronomy' reception promoting Sri Lanka's plant-based culinary heritage and its role in sustainable tourism, and launched a Compendium identifying ten local high-protein crops to support entrepreneurs and the hospitality sector.

Hemas Consumer Brands was named the “Overall Winner” at the JASTECA Awards 2025 for operational excellence, credited for its adoption of Japanese 5S and Kaizen practices and generating about 20–30 employee-driven improvement ideas daily.

Daraz Sri Lanka will run its 11.11 Biggest Sale from Nov 10 (8:00pm) to Nov 21 with discounts up to 90%, Rs.120 million in vouchers and sitewide flash deals. Participating banks (NTB, HNB, NDB, Commercial Bank, Sampath, DFCC, Pan Asia) and brands including Hayleys will offer additional partner discounts and instalment options.

Green Cabin refurbished its Colpetty outlet and marked the start of the 2025 Christmas season with its annual Christmas cake-mixing ceremony; festive cakes and confections will be offered across all Green Cabin outlets.

Treasury Secretary Harshana Suriyapperuma said removal of para-tariffs and the introduction of a 30% duty band is intended to be revenue-neutral and implementation could begin in Q1 2026. The move aims to harmonize duties, eliminate import CESS/PAL/SCL and better integrate Sri Lanka with global markets.

Sri Lanka's 2026 budget lowers the VAT threshold to 36 million rupees (from 60m) and raises the maximum import duty band to 30% (from 20%), with para-tariffs to be phased out; a CESS on imported fabric will be replaced by VAT and a social security levy on cars starts April 2026.

Average coconut prices in Sri Lanka fell 5.16% to 122,493.58 rupees per 1,000 nuts at a weekly auction as nuts offered rose to 540,267 and nuts sold to 463,909. Export earnings from coconut-based products rose 72.03% in September 2025 versus September 2024.