News & market updates

Evolution Auto unveiled Sri Lanka’s largest EV lineup at Motorshow 2025 — seven new models across five global brands (AVATR, XPENG, IM Motors, Riddara, KYC) — and announced expanded showrooms, a Peliyagoda multi-brand workshop and multi-year battery/vehicle warranties.

PRISL announced COMPLAST-RUBEXPO-COMXPO 2025 at BMICH, Colombo from 29–31 Aug featuring 500+ booths from 300+ companies, and the PRISL Awards 2025 on 25 Nov with 30 awards across 11 categories (entries close 30 Sep).

DFCC Bank will raise Rs. 13 billion by issuing up to 100 million Basel III-compliant subordinated GSS+ Bonds and 30 million senior Blue Bonds listed on the CSE, subject to approvals; coupon rates and maturities will be set later based on prevailing market rates.

Swisstek Aluminium says it will support Sri Lanka’s 2030 renewable energy goals by supplying modular, corrosion-resistant solar mounting systems with a 10-year warranty, 30+ years durability, and multiple international certifications.

DFCC Bank plans a 10-year GSS (green, social and sustainable) bond issue to raise Rs10 billion via 100 million Rs100 Basel III-compliant subordinated, listed, unsecured bonds. The bonds carry annual coupons, a non-viability conversion option and rates to be set nearer finalization; subject to approvals.

DFCC Bank will issue five-year redeemable blue bonds to raise Rs3 billion via up to 30 million Rs100 bonds, in fixed-rate and zero-coupon tranches; coupon/yields will be set later and the issue is subject to regulatory approvals.

Sri Lanka and Türkiye held the 3rd JCETC on 24 July, agreeing to deepen cooperation across trade, investment and tech, with bilateral trade reaching $257 million in 2024. The meeting noted a 78% rise in Turkish tourist arrivals and targeted sectors for investment including renewable energy, ICT, food processing and medical devices.

John Keells Holdings reported Q1 FY2025/26 group revenue of Rs.114.15 billion and EBITDA of Rs.12.97 billion, up 64% and 69% year-on-year respectively, driven by Retail and Transportation. Nations Trust Bank (part of the group) posted solid profitability growth from higher loan volumes and reduced impairments.

WindForce will offer 40,523,068 ordinary shares (3% of issued shares) under an employee share option scheme to incentivise and retain key Level 1 and Level 2 management staff; the proposal is subject to regulatory and shareholder approval.

Mohamad Hameez was elected President of the Sri Lanka–Canada Business Council for 2025/26. Aitken Spence (via Aitken Spence Travels) and DFCC Bank are among the listed companies represented on the council’s executive committee and subcommittees, which will prioritize tourism, renewable energy and technology collaboration.

WindForce PLC commissioned the 10 MW Sooryashakthi solar plant in Vavunativu, Batticaloa on July 26, 2025, expected to supply about 19.5 GWh annually to the national grid. The project was developed in collaboration with Vidullanka PLC under WindForce's full EPC on 27 acres, using 22,048 PV modules and 34 string inverters.

Commercial Bank of Ceylon will open a Green Bond issue on 4 August to raise up to Rs.15 billion (initial Rs.10bn via 100 million Tier-2 bonds at Rs.100 each, plus an option for 50m more) to strengthen Tier II capital and fund green lending. Coupons range 10.55%–11.30% p.a.; bonds are limited to Qualified Investors.

President Anura Kumara Disanayake is on a State visit to the Maldives to elevate economic ties and invited Maldivian investment in IT/AI, fisheries, tourism, infrastructure and renewable energy. Leaders agreed to boost air connectivity, fisheries cooperation and renewable energy partnerships, with Sri Lanka targeting 70% renewables by 2030.

WindForce PLC launched a 10 MW solar plant in Batticaloa in a joint venture with Vidullanka, expected to generate about 19.5 GWh a year; WindForce executed the EPC and said the project was completed on July 26.

Commercial Bank of Ceylon will open a LKR15 billion green bond on Aug 4 offering 5-, 7- and 10-year tranches with coupons up to 11.30% (10-year effective 11.30%); the bonds are Fitch A (lka) and will be listed on the CSE. Proceeds will fund renewable-energy projects and the Basel III-compliant bonds can convert to equity if the bank faces a capital shortfall.

Hayleys Electronics, part of Hayleys PLC, opened a flagship smart hub at No. 311, High Level Road, Nugegoda to centralize its solar, smart lighting, air-conditioning and industrial infrastructure offerings. The hub aims to speed service delivery and support the group's push into renewable energy and engineering solutions.

Sri Lanka Customs has detained about 1,000 BYD electric vehicles in six consignments over disputed motor-capacity declarations that determine excise duty (100 kW taxed ~LKR 2.4m vs 150 kW ~LKR 5.4m); the cars are held at port pending investigation.

Commercial Bank of Ceylon opens a Green Bond issue on 4 Aug 2025 to raise up to Rs 15 billion (initial Rs 10 billion with an option for a further Rs 5 billion) to fund sustainability-linked lending and strengthen its Tier II capital base.

John Keells CG Auto opened a BYD 3S Sales‑Service‑Spare parts facility in Kurunegala on 23 July 2025. It is JKCG Auto's second fully‑owned Sri Lanka centre, expanding BYD EV sales, local servicing and support for nationwide charging infrastructure.

Commercial Bank of Ceylon partnered with the University of Jaffna to deliver a full-day workshop training 100 farmers in Kilinochchi on climate-smart farming technologies. The bank funded participation of its agricultural loan customers and said the programme supports agri-modernisation, youth empowerment and reduced credit risk.

TRACE has opened applications for its 2025 Research & Development Grant offering up to Rs. 500,000 per project; applications are open until 31 August. The grant is available to university students, academic staff, startups and independent researchers across areas including healthcare, sustainability and AI.

WindForce PLC and Vidullanka PLC commissioned the 10 MW Sooryashakthi Solar Power Project in Vavunativu, which will deliver about 19.5 GWh annually to the national grid. Each holds a 50% stake, with WindForce leading EPC work converting 27 acres of high-salinity land.

Commercial Bank of Ceylon ran a full-day workshop with the University of Jaffna training 100 farmers in Kilinochchi on climate-smart agriculture technologies. The bank funded the program and facilitated participation of its agricultural loan customers to support adoption and reduce credit risk.

Commercial Bank of Ceylon (COMB) had its proposed Rs.15 billion Basel III-compliant subordinated green bonds rated final 'A(lka)' by Fitch. The bonds (5, 7 and 10-year maturities) will qualify as Tier 2 capital, be listed on the CSE and fund Tier 2 capital and green lending.

Hayleys Electronics (part of Hayleys PLC) opened a flagship Smart Hub in Nugegoda to centralise its solar, smart lighting, air-conditioning and industrial infrastructure solutions, intended to accelerate delivery and expand its energy and engineering services.

Nyne Hotels has implemented comprehensive sustainability initiatives across its properties, including sourcing over 80% of ingredients within a 10km radius, eliminating single-use plastics, using LED lighting and solar heating, and converting organic waste to compost. The group also runs local hiring, mangrove protection and beach-cleanup programs.

Registrations are open for the Sri Lanka Economic and Investment Summit 2025, to be held 2–3 December at the Shangri-La Colombo with an enhanced investment focus under the theme 'Gateway to Growth'. The summit will bring together policymakers, investors and private sector leaders to discuss fiscal and structural reforms and spotlight opportunities in tourism, agribusiness, manufacturing, renewable energy, logistics, financial services and technology.