Category: Daily Financial Times

Colombo stocks started the week yesterday on a mixed note with the ASPI closing up by 0.29% or 63.49 points to 22,132.33 and why the S and P SL20 ended a marginal 0.06% lower, down 3.74 points to 6,037.79.

Market turnover was over Rs. 3.7 billion on nearly 108.43 million shares traded. Foreign investors were net sellers on a net outflow of Rs. 200.5 million.

NDB Securities said the ASPI closed in green as a result of price gains in counters such as Colombo Dockyard, Hatton National Bank, and Richard Pieris and Company.

High net worth and institutional investor participation was noted in Colombo Dockyard PLC rights, DFCC Bank and John Keells Holdings. Mixed interest was observed in Colombo Dockyard, Commercial Bank and Richard Pieris and Company whilst retail interest was noted in LVL Energy Fund, Amana Takaful, and Kotagala Plantations.

The Capital Goods sector was the top contributor to the market turnover due to Colombo Dockyard PLC rights, Colombo Dockyard and John Keells Holdings while the sector index gained 0.93%.

The share price of Colombo Dockyard PLC rights increased by Rs. 4.10 to close at Rs 65.30 and Colombo Dockyard gained Rs. 40.25 to close at Rs. 171.75. The share price of John Keells Holdings recorded a loss of 20 cents to close at Rs. 20.90.

The Banking sector was the second highest contributor to the market turnover due to DFCC Bank and Commercial Bank with the sector index increasing by 0.29%. DFCC Bank moved up by Rs. 1.25 to close at Rs. 145.50 and Commercial Bank fell 50 cents to Rs. 198.25.

Asia Securities Research said DOCKN, RICH, NTBN, DFCC and HNBN closed higher while ACL, JKH, PLC, AEL and COMBN ended in red during the session.

Market turnover was mainly supported by DOCKN (Rs. 585 million) and DFCC (Rs. 251million). DOCKN and HNBN emerged as the key contributors to the index performance for the day. Market breadth turned negative, with 100 price gainers and 121 decliners.

Capital Goods, Banks, Diversified Financials and Food, Beverage and Tobacco sectors led activity, collectively accounting for 87.5% of turnover.

Net foreign buying topped in RICH.N at Rs. 77.4 million while net foreign selling topped in JKHN at Rs. 152.5 million. Crossings accounted for 21% of turnover led by DFCC.N (Rs. 200 million), JKHN Rs. 153.4 million, and COMBN (Rs. 99.5 million). Market P/E was 10.52.

First Capital Research said stock market opened with a sharp upward movement and subsequently traded within a narrow range for most of the day, marked by minor fluctuations. A total of 91 counters made positive contributions to the ASPI, while most counters recorded negative movements, resulting in mixed signals across the indices.

Top positive contributors to the ASPI were DOCK, HNB, RICH, DFCC and CCS.

Retail investors paid a special attention on DOCK and DOCK.R while HNW investors showed improved buying interest, gradually entering the market.

Banking sector counters attracted renewed buying interest, while consumer services sector counters advanced following the strong post-crisis tourism arrival numbers recorded during the previous week.

The Capital Goods sector accounted for 33% of total turnover, while the Banking and Diversified Financials sectors contributed a combined 26%.

The WealthTrust Securities Ltd., (WTS) Rs. 500 million Initial Public Offering (IPO) has attracted Rs. 7.5 billion worth applications, amounting to a 14.9 times level of oversubscription.

A total of 71,548,244 ordinary voting shares were offered at an issue price of

Rs. 7 per share, with the company seeking to raise Rs. 500,837,708 and a listing on the Diri Savi Board of the Colombo Stock Exchange (CSE), subject to compliance

with applicable

requirements.

Generating strong and broad-based demand from investors, the IPO was oversubscribed upon opening for subscription on 17 December, prompting the offer to be closed at 4:30 p.m. on the same day.

WTS Managing Director/CEO Romesh Gomez said: ‘This is a defining milestone for WTS, and we extend our sincere thanks to all investors who have placed their trust in us by becoming shareholders. We are humbled by the strong response, and regret that we are unable to satisfy the full demand from every applicant. We remain committed to executing on our stated objectives, strengthening our capital buffers, and creating long-term value for all stakeholders.’

As Sri Lankans head overseas during the peak year-end travel season, the Bank of Ceylon (BOC) is highlighting its Multi-Currency Travel Card (MCTC) as a secure and convenient payment option for international travellers.

The BOC MCTC allows travelers to carry five major currencies US Dollars, British Pounds, Euros, Japanese Yen and Australian Dollars on a single secure prepaid card, eliminating the need to manage multiple cash denominations.

With the ability to load up to $ 25,000 and switch between currencies through a dedicated self-care portal, travelers can maintain precise control over exchange rates and manage expenses efficiently during peak travel periods.

Security is a key feature of the card. Each BOC MCTC is equipped with an EMV chip, NFC enabled contact-less payment capability, and 3D secure online protection, along with real time SMS and email alerts for every transaction.

Cardholders also receive a complimentary backup card, ensuring uninterrupted access to funds in the event of loss or theft. In addition, the card includes travel insurance coverage of up to $ 250,000, subject to eligibility, providing peace of mind for travelers exploring overseas destinations during the busy season.

orsed by Mastercard, the BOC MCTC is accepted at over four million ATMs and 40 million merchants worldwide, making it a convenient tool for shopping, dining, duty-free purchases, and online payments to foreign merchants. Reloading is simple and accessible at any BOC branch, with remote reloading option available exclusively for students studying abroad, ensuring uninterrupted financial access during their travels.

The BOC MCTC has become a preferred solution among business professionals, medical tourists, students, and high-end travelers, offering a seamless, cashless experience for managing international expenses. As Sri Lankans travel abroad during the festive season BOC MCTC provides a secure, flexible, and convenient solution, allowing travelers to focus on their journey with confidence and peace of mind.

In addition, cardholders automatically qualify for all Mastercard promotional offers when making payments using the BOC MCTC. The card also extends exclusive benefits for customers settling medical-related payments in India, further enhancing its value for those seeking specialized healthcare services abroad.

Wijeya Newspapers Ltd., wishes to issue the following clarification regarding the Ne-Yo concert that was scheduled to take place on 28 December and has since been postponed.

Wijeya Newspapers Ltd., understands and shares the concerns, frustration, and grievances expressed by the general public in relation to this event. Wijeya Newspapers Ltd., is also an affected party in this matter and regrets the circumstances that have arisen.

Wijeya Newspapers Ltd.’s involvement in the Ne-Yo concert arose in the context of the event promoter’s partnerships with other reputed third-party partners in Sri Lanka, and our role was confined solely to limited media sponsorship support.

Wijeya Newspapers Ltd., did not play any role in the planning, organisation, ticketing, artist engagement, financial arrangements, or operational aspects of the Ne-Yo concert, nor did it have oversight or control over the actions of the event promoters.

Wijeya Newspapers Ltd., regrets the turn of events and confirms that it will have no further affiliation with the Ne-Yo concert. We unequivocally state that Wijeya Newspapers Ltd., does not support or associate itself any further with Brown Boy Productions, Brown Boy Ltd., or its promoters Amith Chandika Boteju and Champike Munasinghe.

As a responsible media institution committed to journalism, transparency, and public trust, Wijeya Newspapers Ltd., takes this matter extremely seriously and supports swift and appropriate action to resolve the situation in the interests of the public.

Wijeya Newspapers Ltd., reiterates that its involvement in this matter was limited, indirect, and contractual in nature within a media sponsorship framework.

We regret any inconvenience, confusion, or distress caused to our readers, partners, and the general public.

Sri Lankans continue to fall victim to internet/online fraud despite many awareness programs to warn them of such dangers. According to recent media reports, there has been an increase in the number of online fraud complaints linked to donation campaigns for disaster relief in the wake of Cyclone Ditwah, as well as promotion offers for the festive season, according to the Sri Lanka Computer Emergency Readiness Team (Sri Lanka CERT).

The CERT said that while around 100 complaints are reported every month, a majority of cases reported in November and December were linked to donation campaigns for disaster relief related to Cyclone Ditwah, as well as promotion offers for the festive season.

These complaints are of fraudsters pretending to be representatives of the Sri Lankan Government, State departments, popular supermarket chains, and reputable business organisations. Some have passed as those collecting donations to assist victims of the natural disaster while others have been those offering bargains during the new year season.

On top of this has been allegations that the recent cancellation of the appearance of an international singing sensation was due to some sort of online fraud concerning ticket sales. There has been no proper explanation as to why it was called off at the last minute but there seems to have been some sort of online fraud committed by some fraudsters using such a high-profile event.

The Sri Lanka CERT, which is the globally recognised cyber incident response centre with a team of skilled and experienced cybersecurity professionals, has been warning the public on measures they can adopt to avoid being duped but still many seem to fall victim to such scams.

In its guideline on how not to fall victim to online scams, the CERT said that being alert to scam messages is a great way to protect yourself online. These include not clicking on links where one suspects the message might not be legitimate, as scammers often pretend to be a person or organisation you trust.

Some of the other guidelines are to disable image previews in emails from non-trusted sources, not downloading applications from third-party download sites that are not widely known to be legitimate, and avoiding clicking on online ads to download applications.

With online shopping becoming more popular, there are also many scams. For this, the CERT has warned those who engage in online shopping to shop only using secure devices, protect payment information and accounts, use trusted sellers, research online shopping websites before making purchases, and stick to well-known, trusted businesses.

If someone is offering goods at extremely low prices, payments through direct bank deposits, and online stores with limited information on delivery, return, and privacy policies, these can be signs of a scam.

The CERT also warns the public not to provide personal information or One-Time Passwords (OTP) to an untrustworthy source and to not provide this type of personal information to strangers or unknown websites, which is how many get scammed.

With the use of online platforms growing in the country, it is important for the public to be aware of the danger of engaging with strangers or unknown organisations online. Some of these scam networks are global bodies and it is easy for telephones and computers to be compromised.

Hence, while the public are keen to donate money towards the relief of those affected by the natural disaster or for other welfare work, they need to be extra careful and verify if those behind such projects are genuine or trying to make an easy buck.

The same goes for online shopping and promotions, which are tempting, but exercising caution is what is important. Deals that are too good to be true usually are that and hence, it is possible to be scammed more easily than one thinks.

Recipients of the Certified Competency Mapper and Certified Corporate Trainer programs of the Global Academy of Finance and Management (GAFM) were recently recognised alongside trainer Dilshan Lankathilaka at the Asian Digital Finance Forum and Awards 2025. The programs were delivered under the GAFM Sri Lanka Chapter, an official supporting organisation. The event was held at Port City Colombo. Dilshan Lankathilaka (centre) is seen here with the recipients of Certified Competency Mapper and Certified Corporate Trainer programs of the Global Academy of Finance and Management (GAFM).

As professionals and business leaders prepare to face growing economic and organisational challenges, Visioning 2026, one of Sri Lanka’s longest-running personal and professional development programs, will be conducted in English medium on 3 January 2026 at the Shangri-La Hotel, Colombo.

Now in its 21st consecutive year, Visioning is conducted by Dr. Kuma Iddamallena, a leadership and personality training specialist and the pioneer who introduced leadership development, personality training, positive thinking, and the English-language workshop model in Sri Lanka. Over the past two decades, thousands of participants from diverse professional backgrounds have taken part in this annual program, many crediting it for improved clarity, direction, and long-term success in life, profession, and business.

The program is organised by Wisdom Trainer International and the Kuma Iddamallena Leadership Academy, in collaboration with London English College, institutions with a long-standing reputation in practical education and leadership development.

Visioning is a structured, one-day strategic workshop designed to help participants pause, reflect, and plan intentionally. A core component of the program is a guided review of the previous year, enabling participants to analyse achievements, challenges, decisions, and lessons learned. This reflective process then leads to goal setting for the coming year and beyond, supported by practical planning frameworks and action-oriented tools.

Each year, Visioning is built around a distinct theme that reflects contemporary realities. The theme for this year, ‘The Year of Financial Breakthrough,’ focuses on developing financial clarity, discipline, and strategic thinking, helping participants align their financial goals with their personal values and professional direction in an evolving economic environment.

A key highlight of the program is Dr. Kuma Iddamallena’s Five-Finger Theory, delivered through a fun-based and highly interactive learning approach. The model emphasises that sustainable success requires balance across five essential aspects of life-physical, mental, financial, social, and spiritual. Just as all five fingers are needed for a strong and effective hand, individuals and organisations perform best when these five dimensions are developed in harmony. Through engaging activities and practical reflections, participants are guided to strengthen each area, enabling balanced success in life, profession, and business, rather than one-sided or short-term achievements.

Those interested in registering and benefiting from early-bird rates may contact the Wisdom Trainer hotline on 011 430 1301, 0778 401 301, or 0776 601 601.

Visioning is particularly relevant for entrepreneurs, leaders, directors, business owners, company heads, managers, school principals, and others who seek purposeful growth and strategic direction. Over the years, many past participants have reported enhanced leadership effectiveness, career advancement, business expansion, and improved financial discipline following their attendance at the program.

Hemas Hospital Wattala reaffirmed its commitment to collaboration and medical innovation through its sponsorship of the Annual Academic Sessions of the Sri Lanka Society of Gastroenterology (SLSG) 2025.

Recently, Hemas Hospital Wattala introduced the most advanced Fibroscan machine in the country, positioning the hospital at the forefront of liver care. During the SLSG event, live demonstrations showcased how this next-generation technology enabled clinicians to accurately assess liver stiffness and fat content in minutes, providing a painless, reliable, and efficient alternative to traditional biopsies. This innovation supported early detection, better monitoring, and more personalised treatment plans for patients with liver disease.

As the leading centre for liver care in Sri Lanka, Hemas Hospital Wattala Liver Centre has set benchmarks in early diagnosis, prevention, and management of liver-related diseases. Its multidisciplinary team of hepatologists, gastroenterologists, interventional radiologists, and surgeons deliver integrated, patient-centred care, supported by advanced diagnostics and specialised treatments such as endoscopic procedures, liver fibrosis assessment, and chronic liver disease management. The centre also provides education and awareness initiatives to empower patients and the wider community on liver health. Expanding its services, the centre introduced the private sector’s first paediatric liver unit, offering child-friendly, family-sensitive care with dedicated Fibroscan diagnostics and multidisciplinary planning, underscoring Hemas Hospitals’ commitment to its clinical excellence.

Hemas Hospital Wattala Director General Manager Prabhan Gunawardena said, ‘Participation of Hemas Hospital Wattala at this year’s SLSG Annual Academic Sessions reflected our ongoing commitment to professional

collaboration and medical innovation. By engaging closely with Sri Lanka’s leading specialists, we contribute towards research, education, and the overall standard of gastroenterological care in the country. We will continue to work on improving further, strengthening our contributions to the healthcare sector’.

Through its support of the SLSG and its continuous investment in cutting-edge liver care technology, Hemas Hospital Wattala reaffirmed its position as a national leader in liver health. It pioneered advancements that promised better outcomes and a brighter future for patients across the country.

Sri Lanka crossed the 2.3 million tourist arrivals milestone on 26 December, marking its strongest post-crisis performance and edging towards passing the 2018 record of 2.33 million visitors.

As per Sri Lanka Tourism Development Authority (SLTDA) data up to 25 December, cumulative arrivals stood at 2,298,987, with the 2.3 million mark crossed the following day.

This places 2025 marginally ahead of the previous all-time high of 2.33 million visitors recorded in 2018, and around 12% higher than the 2.05 million arrivals recorded in 2024, underlining the sector’s recovery momentum.

During the first 25 days of December, Sri Lanka welcomed 195,394 tourists for the month, compared with 191,465 during the same period in December 2024, a growth of just over 2% year-on-year (YoY).

Against a full-month target of 344,309 arrivals, this leaves a gap of nearly 149,000 visitors to be achieved in the final six days of the year. That would require daily arrivals of close to 25,000, from 7,816 at present, making the monthly target mathematically unrealistic.

Based on historical year-end patterns and current run rates, December is now expected to close in the range of 260,000-270,000 arrivals, broadly in line with last year rather than the aggressive target set for 2025.

This would take total arrivals for the year to around 2.35-2.4 million, effectively meeting the revised lower-end objective, but falling short of the more ambitious scenarios.

The revised SLTDA forecast paths now provide a more realistic benchmark. With arrivals expected to end the year around 2.35-2.4 million, the outcome aligns closely with the ‘Lower Scenario’ of 2.415 million arrivals.

It also broadly matches the projection by CT Smith Securities, which estimates 2.4 million tourists and tourism earnings of about $ 3.4 billion for 2025.

In contrast, the ‘Conservative Scenario’ of 2.676 million would have required December arrivals to surge by more than 40% YoY, while the ‘Optimistic Scenario’ of 3 million is clearly out of reach given the current run rate.

Monthly trends show that the recovery has been underpinned by strong growth earlier in the year. January arrivals rose by over 21% YoY, while April, May, and June posted increases ranging from 17% to nearly 22%.

September stood out with growth of over 30%, reflecting strong shoulder-season demand. However, growth moderated during the peak winter months of November and December, pointing to constraints in airlift, weather conditions, and price competitiveness during the high season.

During the first 25 days of December, India topped the list with 45,020 tourists, accounting for 23% of arrivals, followed by Russia at 10% (20,150), the UK at 8% (15,768), Germany 7% (12,740), and Australia 6% (10,934). Other notable contributors included travellers from China, the US, France, Poland, and Italy.

Year-to-date (YTD), India remains Sri Lanka’s largest tourism market in 2025, contributing nearly 520,000 visitors by 25 December, or more than one-fifth of total arrivals. The UK followed with 207,500 tourists, while the Russian Federation accounted for 178,743 arrivals. Germany with 143,999 travellers and China with 130,452 visitors rounded out the top five source markets.

Together, these five countries contributed well over half of total tourist arrivals during the year, underscoring Sri Lanka’s reliance on a concentrated set of core markets.

A recent sector analysis by CT Smith Securities reinforced the year-end outlook, projecting around 2.4 million arrivals and tourism earnings of $ 3.4 billion for 2025, broadly in line with the revised lower-end expectations.

The company is more optimistic about 2026, forecasting arrivals to rise to 3 million and revenue to reach $ 4.3 billion, suggesting scope for both volume growth and improved yields if capacity constraints are eased.

Industry analysts said meeting higher targets in future years will depend less on aspirational numbers and more on boosting revenue generation whilst expanding airline connectivity, implementing the long awaited free-visa proposal for over 40 countries, and a nation branding campaign to sustainably support growth beyond the 2.4 million mark.

The global private credit market will continue to grow in scale and complexity in 2026, having become much more diversified and widely held over the past decade, with an evolution into new structures, sectors and products, Fitch Ratings says.

Private credit structures and asset classes will continue to evolve beyond closed-end investment funds and business development companies, which are expected to reach $2.3 trillion in assets under management at end-2025.

Private credit’s role in asset-based finance, including infrastructure and special situations is expected to increase, along with continued growth in semi-liquid and perpetual structures. Private credit managers are now also regularly involved in investment-grade corporate and structured finance lending, driven by their increased affiliations with insurers.

Fitch does not currently view the risks associated with private credit as systemic, despite various ‘bubble-like’ attributes, including rapid growth, tight spreads, increased competition and growing retail participation. Liquidity transformation risks are limited, as private credit is typically extended by permanent capital vehicles or closed-end investment funds, while redemption rates in semi-liquid funds should remain below caps.

That said, in the event of a broader economic stress, private credit could be a meaningful risk transmission channel across various parts of the financial system, given its expanding connections to the wider capital markets and traditional lenders. Insurers have increased exposure to private credit through tie-ups with alternative investment managers, and banks provide various forms of leverage to the private credit sector, including warehouse lines, revolving lines of credit and fund finance facilities.

Private credit performance remains a key focus for Fitch in 2026. Interest rate cuts will support borrower creditworthiness by providing liquidity relief as a result of improving free cash flow. This should reduce defaults given borrower sensitivity to high rates from largely floating-rate capital structures and limited use of interest rate hedges.