Banking

Sri Lanka finance company capitalisation under pressure, ratings affirmed: Fitch

Monday July 24, 2017 11:52 am

ECONOMYNEXT – Fitch Ratings said it has confirmed the ratings of seven Sri Lankan finance companies, many of which are backed by large parent firms, but that it expects capitalisation in the sector to come under pressure.

Finance firms face asset quality pressures stemming from a “challenging operating environment and unfavourable weather conditions and declining profitability due to higher funding and credit costs,” the rating agency said.

Fitch sees that the shift in the business mix of the entities considered in its peer review has become more apparent given the slowdown in the vehicle financing segment following the increase in import tariffs, imposition of lower allowable loan-to-value ratios coupled with a high interest rate environment.

“Licensed finance companies have increasingly engaged in term/working capital financing – a segment that we believe is more risky due to larger transaction amounts and poor collateral such as third-party guarantees or post-dated cheques,” a statement said.

The full rating review follws:

Fitch Ratings-Singapore/Colombo-21 July 2017: Fitch Ratings has affirmed the ratings of the following finance companies:

– People’s Leasing & Finance PLC (PLC)
– Central Finance Company PLC (CF)
– Melsta Regal Finance Ltd (MRF)
– HNB Grameen Finance Limited (HGL)
– LB Finance PLC (LB)
– Siyapatha Finance PLC (Siyapatha)
– Senkadagala Finance PLC (Senka)
– AMW Capital Leasing And Finance PLC (AMWCL)
– Singer Finance (Lanka) PLC (SFL)
– Mercantile Investments and Finance PLC (MIF)

In addition, Fitch assigned Siyapatha’s proposed subordinated debentures an expected rating of ‘BBB+(lka)(EXP)’.

A full list of rating actions is at the end of this rating action commentary.

KEY RATING DRIVERS

IDRS, NATIONAL RATINGS AND SENIOR DEBT

The rating actions follow Fitch’s periodic review of the large and mid-sized finance companies in Sri Lanka.

Fitch expects capitalisation in the sector to come under pressure as a result of asset quality pressures stemming from a challenging operating environment and unfavourable weather conditions and declining profitability due to higher funding and credit costs. Fitch sees that the shift in the business mix of the entities considered in this peer review has become more apparent given the slowdown in the vehicle financing segment following the increase in import tariffs, imposition of lower allowable loan-to-value ratios coupled with a high interest rate environment. Licensed finance companies have increasingly engaged in term/working capital financing – a segment that we believe is more risky due to larger transaction amounts and poor collateral such as third-party guarantees or post-dated cheques.

Fitch’s ratings on the finance companies in the peer group are primarily driven by their business model, franchise and risk appetite, which is reflected in their exposure to more vulnerable customer segments.
Finance Companies with Institutional Support-Driven Long-Term Ratings

PLC’s Issuer Default Rating and National Long-Term Rating reflect Fitch’s view that PLC’s parent, the state-owned and systemically important People’s Bank (Sri Lanka) (PB: AA+(lka)/Stable) would provide PLC with extraordinary support, if required. PB’s propensity to support PLC stems from its role in the group as a strategically important subsidiary and the high reputational risk to PB should PLC default as PB owns 75% of PLC and they share a common brand. PB’s ability to provide support to PLC is limited, and stems from Sri Lanka’s rating of ‘B+’/Stable.
PLC accounted for 10.1% of PB’s assets and contributed 25.5% to PB’s post-tax profit for the quarter ended March 2017. In addition to its own branches, PLC has 101 window offices within PB’s branches and has board representation from PB.

MRF’s rating reflects Fitch’s expectation of support from its group through MRF’s parent Melstacorp PLC (MC). The Rating Watch Negative (RWN) reflects Fitch’s assessment that MC’s ability to provide support to MRF is dependent on the resolution of the RWN on Distilleries Company of Sri Lanka PLC (DIST: AAA(lka)/RWN), a significant subsidiary within the group. Fitch
expects capital support from MC for MRF to meet the enhanced regulatory minimum capital requirement imposed by the regulator.
MRF is of limited strategic importance to the group and the level of its operational integration within the consolidated group’s core business is low. MRF accounted for just 1.3% of group pre-tax profit and 5.1% of group assets at financial year end-March 2017. We believe that the disposal of MRF would not significantly alter the group’s operations or earnings, although that is not currently in MC’s plans.

HGL’s rating reflects Fitch’s expectation of support from its parent, Hatton National Bank PLC (HNB; AA-(lka)/Stable), Sri Lanka’s fourth-largest domestic commercial bank. This view is based on HNB’s majority shareholding (51%), its involvement in the strategic direction of HGL through board representation and the common HNB brand.
The two-notch differential reflects HGL’s limited role in the group. HGL is mainly engaged in microfinance, which is not a significant product for HNB. Furthermore, there is limited operational integration between the entities.

AMWCL’s rating reflects Fitch’s view that support would be forthcoming from Associated Motorways Private Limited (AMW), which owns 90% of AMWCL, given the finance company’s strategic importance to the parent. This is based on AMWCL’s role in the group, the common AMW brand and the existence of common creditors, which mean high reputational risk for AMW if AMWCL were to default. About 75% of its advances comprised vehicle finance facilities provided to its parents’ clients at end-March 2017 (end-2015: 74% and 2014: 46%). AMWCL also benefits from business referrals from AMW’s branch network and has 11 branches within AMW’s branches.

Siyapatha’s rating reflects Fitch’s view that support would be forthcoming from its parent, Sampath Bank PLC (A+(lka)/Negative), which owns 100% of Siyapatha and is involved in the strategic direction of Siyapatha through board representation. Siyapatha is rated two notches below its parent because of Siyapatha’s limited contribution to the group’s core businesses; group leasing book accounted for just 7% of group advances at end-2016, of which Siyapatha provided 42%. In addition Siyapatha’s contribution to group profit remains low and Siyapatha is branded independently from its parent.

Finance Companies with Long-Term Ratings Driven by Intrinsic Strength

CF’s rating reflects its strong capitalisation supported by its above-industry profitability and retention rates. CF’s regulatory Tier-1 ratio improved to 32.3% at the end of the financial year to March 2017 (29.9% as at end-FY16), maintaining its position as the highest capitalised non-bank financial institution among our rated peers. However, these strengths are counterbalanced to an extent by its still-weak asset quality relative to similar rated peers, high risk appetite stemming from its loan book concentration to registered three-wheelers and potential pressure on profitability from a weakening market share. Even though CF’s asset quality and provisioning have been improving, they still remain weaker compared with similar rated peers.

LB’s rating reflects its established franchise and satisfactory capital levels supported by sound profitability from its higher-yielding products. These are counterbalanced by its higher risk appetite given high exposure to gold-backed lending. Fitch believes this exposure has so far been managed through active monitoring and risk-control measures. However, an unexpected sharp decline in gold prices could pressure its asset quality. The ratings also reflect its increasing liquidity risk given its high loan growth relative to its assets (gross loans to total assets: 89% at end-March 2017), which could potentially reduce its liquidity buffer.

Senka’s rating reflects the satisfactory credit profile that it has maintained through economic cycles, its relatively strong franchise among finance companies in Sri Lanka and better matched maturity gaps. These positive factors are counterbalanced by its deposit base and capitalisation, which are weaker compared with higher rated peers. Senka’s asset quality has been satisfactory with key ratios such as the regulatory gross NPL ratio improving to 1.64% at end-FY17 (end-FY16: 2.02%). However, Fitch sees that there are still downside risks to asset quality given Senka’s high gross loan growth of 40% in FY17 (FY16: 24%). A rights issue of LKR580 million in April 2017 helped improve the regulatory Tier-1 capital adequacy ratio to 16.44% after falling to 14.19% at end-FY17 (end-FY16: 15.98%) as a result of high loan growth.

SFL’s rating reflects its relatively measured risk appetite, weaker-than-peers franchise and overall stable financial indicators. SFL’s capitalisation is higher than that of its similar rated peers amid modest loan growth, and its asset-quality metrics have improved. The rating is underpinned by Fitch’s view that the rating on SFL’s parent, retailing company Singer (Sri Lanka) PLC (Singer; A-(lka)/Stable), provides a floor for SFL’s rating that is two notches below. This reflects Singer’s majority ownership in SFL, the common Singer brand and Singer’s influence on SFL’s strategic direction through representation on the finance company’s board.

MIF’s rating reflects its high risk appetite, stemming from weaker underwriting standards, declining profitability relative to peers and greater reliance on concentrated and short-term funding. MIF’s rating also captures its long operating history, satisfactory capitalisation and loan book exposure to less risky customer segments relative to peers. We estimate the six-month regulatory gross NPL ratio to have increased sharply to nearly 7% by end-March 2017 from 3.4% in FY16 after two new large defaults which are backed by collateral. The company’s capitalisation metrics remain supportive to its current rating levels. However, any NPLs without provisions could weaken capital buffers.

The ratings on the senior debentures of PLC, CF, Senka, SFL, MIF and Siyapatha are in line with their National Long-Term Ratings according to Fitch criteria. Fitch has not provided any rating uplift for the collateralisation of CF’s and SFL’s secured notes as their recovery prospects are considered to be average and comparable with those of unsecured notes in a developing legal system.

SUBORDINATED DEBT

Subordinated debentures of CF, LB, Senka and Siyapatha and the proposed subordinated debentures of Siyapatha are rated one notch below their National Long-Term Ratings to reflect the subordination to senior unsecured creditors. The final rating on Siyapatha’s debentures is subject to the receipt of final documentation conforming to information already received.

RATING SENSITIVITIES

IDRS, NATIONAL RATINGS AND SENIOR DEBT

Finance Companies with Institutional Support Driven Long-Term Ratings

A downgrade of PLC’s IDR and National Ratings would occur if PB’s ability to support PLC were to weaken or PB were to cede its majority ownership in PLC, or if PLC’s strategic importance to its parent were to diminish over time, which would reflect a reduced propensity to support PLC, but Fitch does not anticipate this in the foreseeable future. PLC’s ratings are also sensitive to changes in the sovereign rating, as this would affect PB’s ability to provide support to PLC.

The ratings on AMWCL, Siyapatha, and HGL are similarly sensitive to changes in Fitch’s assessment of their respective parents’ ability and propensity to provide support, none of which is expected by Fitch to change materially in the short to medium term.

The resolution of MRF’s RWN will depend on the resolution of the RWN on DIST and the ability of Fitch to form an opinion of the restructuring’s full impact on MC’s credit profile.

Finance Companies with Long-Term Ratings Driven by Intrinsic Strength

The rating of CF could be upgraded if its risk appetite moderates, which Fitch does not expect in the medium term. However, CF’s rating could be downgraded if it is not able to provide a buffer against further loan quality deterioration through provisioning and further continuous decline in its market share which could pressure future profitability.

Downgrade triggers for LB include capital pressures stemming from weaker profitability, increase in liquidity risk or a further increase in risk appetite. This could be indicated through aggressive loan growth or deterioration in asset quality. An upgrade of LB’s rating is contingent on the company achieving stronger capitalisation levels, lower exposure to risky assets and a more comfortable liquidity position.

An upgrade of Senka’s rating is contingent upon the company sustaining stronger capital levels and a more robust deposit franchise that would allow the company to expand in a controlled manner. Rating could be downgraded if its asset quality weakens, leading to a significant decline in capitalisation or excessive asset encumbrance.

An upgrade of SFL’s ratings from an improvement in its standalone strength is unlikely as we expect its franchise to remain materially weaker compared with that of its more established, higher-rated peers. The more likely driver of an upgrade of SFL’s rating would be its relationship with its parent, in particular its strategic importance to Singer. A sustained deterioration in SFL’s standalone credit profile in terms of its capitalisation and asset quality relative to similarly rated peers would not result in a downgrade of SFL’s rating unless our assessment of parental support were to also change.

MIF’s ratings could be downgraded if its large maturity mismatches were to increase or if MIF were to experience an increase in capital impairment risks due to sustained deterioration in profitability and asset quality relative to better rated peers. An upgrade of MIF’s ratings is contingent upon a moderation of its risk appetite as seen through better underwriting standards and risk controls alongside improvements in asset quality and profitability.

The ratings on the senior debt of PLC, CF, Senka, SFL, MIF and Siyapatha will move in tandem with their National Long-Term Ratings.

SUBORDINATED DEBT AND OTHER HYBRID SECURITIES

The assigned subordinated debt ratings will move in tandem with their National Long-Term Ratings.

FULL LIST OF RATING ACTIONS

The following ratings were affirmed as follows:

People’s Leasing & Finance PLC:
Long-Term Foreign-Currency Issuer Default Rating at ‘B’; Outlook Stable
Long-Term Local-Currency Issuer Default Rating at ‘B’; Outlook Stable
National Long-Term Rating at ‘AA-(lka)’; Outlook Stable
National Long-Term Rating for senior unsecured debt at ‘AA-(lka)’
Central Finance Company PLC:
National Long-Term Rating at ‘A+(lka)’; Outlook Stable
National Long-Term Rating for senior secured debt at ‘A+(lka)’
National Long-Term Rating for senior unsecured debt at ‘A+(lka)’
National Long-Term Rating for subordinated debt at ‘A(lka)’
Senkadagala Finance PLC
National Long-Term Rating at ‘BBB+(lka)’; Outlook Stable
National Long-Term Rating for senior unsecured debt at ‘BBB+(lka)’
National Long-Term Rating for subordinated debt at ‘BBB(lka)’
Singer Finance (Lanka) PLC
National Long-Term Rating at ‘BBB(lka)’; Outlook Stable
National Long-Term Rating for senior secured debt at ‘BBB(lka)’
National Long-Term Rating for senior unsecured debt at ‘BBB(lka)’
AMW Capital Leasing And Finance PLC
National Long-Term Rating at ‘BBB+(lka)’; Outlook Stable
Siyapatha Finance PLC
National Long-Term Rating at ‘A-(lka)’; Outlook Negative
National Long-Term Rating for senior unsecured debt at ‘A-(lka)’
National Long-Term Rating for subordinated debt at ‘BBB+(lka)’
National Long-Term Rating for proposed subordinated debt at ‘BBB+(lka)(EXP)’
Melsta Regal Finance Ltd:
National Long-Term Rating at ‘A+(lka)’; Rating Watch Negative
HNB Grameen Finance Ltd.:
National Long-Term Rating at ‘A(lka)’; Outlook Stable
LB Finance PLC:
National Long-Term Rating at ‘A-(lka)’; Outlook Stable
National Long-Term Rating for subordinated debt at ‘BBB+(lka)’
Mercantile Investments and Finance PLC
National Long-Term Rating at ‘BBB-(lka)’; Outlook Stable
National Long-Term Rating for senior unsecured debt at ‘BBB-(lka)’
(COLOMBO, July 24, 2017)

FILED UNDER: finance companies,Fitch Ratings,Sri Lanka

Markets

Sri Lanka stocks close down 0.60-pct, dragged by HNB and LOLC

Friday November 13, 2026 3:28 pm

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange closed down on Friday, CSE data showed, with the benchmark All Share Price Index moving down 0.60 percent.

The ASPI was down 133.22 points at 22,024.18, while the more liquid S&P SL20 was down 1.06 percent, or 67.55 points, at 6,298.02.

The ASPI ended the week up 784.53 points from last Friday.

Positive contributors to the ASPI were Dialog Axiata (up 0.40 percent at 50.20 rupees), Distilleries Company of Sri Lanka (up 0.52 percent at 58.30 rupees), Aitken Spence (up 3.60 percent at 151.00 rupees), Ceylon Tobacco Company (up 1.05 percent at 1,828.50 rupees), and LOLC Finance (up 1.96 percent at 5.20 rupees).

Hatton National Bank (down 1.88 percent at 403.75 rupees), Richard Pieris and Company (down 6.21 percent at 27.20 rupees), LOLC Holdings (down 2.17 percent at 405.00 rupees), Sampath Bank (down 1.91 percent at 154.00 rupees), and Singer (Sri Lanka) (down 2.40 percent at 77.30 rupees) were top negative contributors.

Market turnover was 3.23 billion rupees. Capital goods led turnover with 869.21 million rupees. (Colombo/Nov13/2026)

Economy

Sri Lanka MP slams budget speech for omitting Tamil national question

Friday November 13, 2026 2:56 pm

ECONOMYNEXT – A Sri Lanka legislator has voiced strong disappointment that the President’s budget speech failed to make a single mention of the Tamil national question.

“It is very unfortunate that in His Excellency the President’s speech, there has not been a single word mentioned about the Tamil national question. Not a single word,” Shanakiyan Rasamanickam said.

“A budget speech generally, is a policy direction of the government for the next year. The budget speech is not only a statement of the country’s fiscal position or the economy’s position. It is the country’s, the government’s, plan, or what the government plans to do the following year. That’s a policy statement.”

Former presidents would at least mention the Tamil question even if it was not resolved, he said.

Former President Ranil Wickremesinghe in his speech, in his policy statement, he would mention: “The Tamil national question must be resolved,” Rasamanickam said.

Former Presidents Maithripala Sirisena and Gotabaya Rajapaksa also mentioned that the national ethnic question must be resolved, he added.

“Every President, every country’s Head of State, in their policy statements, have acknowledged the fact that there is an unresolved national issue, the Tamil national question, that it needs to be resolved. Various governments have proposed various mechanisms; none of them have succeeded, but at least it was mentioned.”

This year’s budget made allocations for the Office of Missing Persons, and the Office of Reparations.

“But the domestic mechanism is a mechanism that the victim community has rejected. So you all are allocating money to a mechanism where the victim community is not going to be part of.”

Last year’s budget 1 billion was allocated to be spent on the Trincomalee and Jaffna airports.

“Where was that 1 billion for the Trincomalee and Jaffna airports spent last year?”

“The trajectory of this government, Honourable Deputy Speaker, is worrying to me. It’s really worrying to me. Because if the objective is to say that there is no Tamil national question, if the objective is to say that you all have resolved any ethnic issue that this country faced, then Honourable Deputy Speaker, then I think the Tamil people will teach this government a very, very, very harsh lesson in the future.” (Colombo/Nov13/2026)

Bonds & Forex

Sri Lanka sells extra Rs6.5bn Treasury bills after auction

Friday November 13, 2026 12:32 pm

ECONOMYNEXT – Sri Lanka has sold 6,500 million rupees of treasury bills offered on tap at an average rate of 9.95 percent, the public debt management office said, bringing the total of bills sold in the week to 85.562 billion rupees.

The issue offered 90 billion.

Total market subscription was 6.5 billion rupees.

The debt office sold a 12-month bill at 9.95 percent.

On Wednesday (11) the debt office raised 79 billion rupees of 3, 6 and 12 month bills after offering 90 billion.

The settlement date is November 13. (Colombo/Nov13/2026)

Construction and Real Estate

Access Engineering Sept quarter group net profit surges 200-pct to Rs4.75bn

Friday November 13, 2026 12:15 pm

ECONOMYNEXT — Sri Lanka’s Access Engineering PLC recorded a group net profit attributable to equity holders of Rs. 4.75 billion for the quarter ended September 30, surging 200 percent from Rs. 1.58 billion a year earlier, interim accounts showed.

Basic earnings per share rose to Rs. 4.08 for the September quarter, up from Rs. 1.58 previously.

Quarterly group revenue expanded 36 percent to Rs. 20.39 billion from Rs. 14.94 billion, underpinned by condominium property handovers — reflected in inventories dropping Rs. 7.69 billion since March to Rs. 35.71 billion — alongside strong automobile sales and steady civil engineering execution.

Cost of sales rose at a slower 27 percent to Rs. 14.34 billion, lifting gross profit by 64 percent to Rs. 6.05 billion and expanding gross margins to 29.7 percent from 24.7 percent.

Other income jumped 144 percent to Rs. 259.9 million, while administrative expenses rose 75 percent to Rs. 1.14 billion, leaving operating profit up 64 percent at Rs. 5.16 billion.

However, finance costs more than doubled, rising 107 percent to Rs. 1.18 billion on elevated group borrowings of Rs. 43.74 billion, partly offset by finance income climbing 302 percent to Rs. 42.2 million.

Share of results from equity-accounted investees rose 122 percent to Rs. 26.7 million, pushing pre-tax profit up 56 percent to Rs. 4.05 billion.

Income tax swung to a net reversal of Rs. 186.6 million from an expense of Rs. 804.1 million, boosted by deferred tax assets on unrelieved losses from a 100 percent enhanced capital allowance claimed by 60 percent-owned radiopharmaceutical subsidiary Access Medical Tracers (Private) Limited.

Total period profit rose 136 percent to Rs. 4.24 billion, with non-controlling interest declining 24 percent to Rs. 164.9 million following last year’s buyout of minority shareholders in Harbour Village (Private) Limited.

No separate exchange gain or loss was itemized in quarterly earnings, though foreign currency translation via associates recorded a Rs. 17.4 million loss in other comprehensive income, alongside USD 16.6 million in corporate guarantees.

Notes also flagged an expected Rs. 1.45 billion recovery from the terminated South Asia Commercial and Logistics Hub project, a Rs. 225 million post-quarter legal settlement already provided for, and a Supreme Court appeal over a 2011/12 PAYE tax ruling.

Group assets stood at Rs. 132.4 billion as of September 30, with net asset value per share at Rs. 46.70, as the Employees’ Provident Fund raised its stake to 5.69 percent.

Access Engineering shares closed at 80.00 rupees at the end of September and are currently trading around 85.80 rupees. (Colombo/Nov13/2026)

Economy

Sri Lanka private sector says timely implementation of Budget 2027 key

Friday November 13, 2026 11:43 am

ECONOMYNEXT – Private sector body, The Ceylon Chamber of Commerce, said it was encouraged by the broad direction of Budget 2027, noting that it reinforces Sri Lanka’s commitment to economic transformation while maintaining policy continuity, macroeconomic stability, and fiscal discipline.

“This continuity is particularly important as the country seeks to transition from economic stabilisation to a more durable, investment-led growth trajectory.”

The chamber also noted several areas where the Budget could have placed greater emphasis to strengthen the country’s growth prospects.

“In particular, there is a need for a stronger focus on attracting Foreign Direct Investment (FDI), accelerating factor market reforms, particularly in land and labour, and fast-tracking public procurement reforms to improve the efficiency and speed of project implementation.

“More targeted and actionable proposals could have been introduced to unlock the potential of sectors with significant growth opportunities, including tourism, agriculture, IT/BPO and logistics.”

The chamber said the budget contains positive measures aimed at enhancing competitiveness, and external sector resilience, while presenting opportunities for focus on sectors that can accelerate growth.

“A number of the key structural reforms identified in last year’s Budget have been carried forward and strengthened, providing greater certainty and predictability to businesses and investors.

“These include the continued implementation of the Trade National Single Window (TNSW), the phased removal of para-tariffs, the rollout of the Digital ID framework, efforts to expand market access through new Free Trade Agreements (FTAs), the strengthening of one-stop-shop investment facilitation mechanisms, progress on Customs reforms, the expansion of Bandaranaike International Airport (BIA), enhanced financing support for SMEs, and reforms relating to the management of State-Owned Enterprises.”

The CCC said that more than 20 proposals submitted by it have been reflected in Budget 2027.

These include measures to strengthen investor facilitation through the establishment of a professionally managed investment promotion agency; continued efforts to improve trade facilitation and export competitiveness; the Government’s consideration of a successor programme with the International Monetary Fund (IMF); accelerated progress on key legislative reforms; the expansion of digital government services; and the promotion of cashless payments and broader digital adoption. The Budget has also captured several priorities relating to energy security, including the accelerated deployment of Battery Energy Storage Systems (BESS) and investments in fuel storage infrastructure, initiatives to optimize underutilized agricultural land, measures to support the expansion of the digital economy and the IT/BPO sector, and tax reforms to support exporters, including the acceptance of newly VAT-registered exporters as eligible exporters.

“The inclusion of these priorities reflects the value of sustained public-private dialogue and demonstrates increasing alignment between national policy objectives and the needs of a competitive, export-oriented economy.

“The priority now must be effective and timely implementation to translate policy commitments into investment, competitiveness, exports and sustainable growth.” (Colombo/Nov13/2026)

Markets

Sri Lanka stocks trend lower day after budget reading

Friday November 13, 2026 11:16 am

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange was trending lower on Friday, CSE data showed, with the benchmark All Share Price Index moving down 0.66 percent.

The ASPI was down 146.78 points at 22,011, while the more liquid S&P SL20 was down 0.94 percent, or 59.99 points, at 6,306.

Positive contributors to the ASPI were Access Engineering (up 1.30 percent at 85.80 rupees), LAUGFS Gas (up 3.31 percent at 49.90 rupees), Ceylon Tobacco Company (up 1.13 percent at 1,830 rupees), Ceylon Cold Stores (up 0.80 percent at 126 rupees), and Namunukula Plantations (up 1.79 percent at 68.10 rupees).

LOLC Holdings (down 1.03 percent at 409.75 rupees), Hatton National Bank (down 0.61 percent at 409 rupees), Sunshine Holdings (down 3.81 percent at 30.30 rupees), and Sampath Bank (down 1.91 percent at 154 rupees) were top negative contributors.

Market turnover was 1.55 billion rupees. Capital goods led turnover with 459.57 million rupees. (Colombo/Nov13/2026)