ECONOMYNEXT  – The Sri Lanka Ports Authority (SLPA) will seek a private partner through competitive bidding to build a new logistics hub at the Port of Colombo, after scrapping an earlier 280 million US dollar joint venture with China Merchants Port Holdings and Access Engineering PLC.

The earlier project was formed in 2023 under South Asia Commercial and Logistics Hub (SACLH), with China Merchants holding a 70 percent stake, while the SLPA and Access Engineering held 15 percent each.

The consortium planned to build a 150,000-square-metre modern logistics complex.

However, following a review of external circumstances, commercial considerations, and shareholder interests, the parties decided to discontinue the venture.

As part of the exit arrangement, approximately 29.8 million US dollars in equity contributions will be refunded to the three shareholders in proportion to their stakes.

The port authority emphasized that walking away from the joint venture does not mean it is abandoning logistics infrastructure.

“The decision not to proceed with the earlier joint venture does not represent a departure from its commitment to logistics infrastructure development. Rather, it provides an opportunity to pursue an alternative development model,” the SLPA said.

The authority will now launch an open competitive bidding process to set up the facility under a Public–Private Partnership (PPP) model, subject to relevant approvals.

The project will utilize a large land area inside the port to host integrated, value-added logistics services, bring in private investment, and earn long-term revenue.

Officials said the hub will help transform Colombo from purely a container transshipment terminal into a full maritime center, serving shipping lines, cargo owners, and logistics operators.

“The SLPA remains firmly committed to positioning the Port of Colombo as a leading maritime, transshipment and logistics hub in South Asia, while ensuring that future port development initiatives are commercially viable,” the SLPA said.  (Colombo/Oct19/2026)

ECONOMYNEXT – Sri Lanka’s Inland Revenue Department (IRD) has urged close to 1.2 million registered individual taxpayers to file their 2025/2026 income tax returns online before the November 30 deadline, warning of penalties and legal action for non-compliance.

Officials said that all registered individuals must submit their annual returns.

This includes individuals who do not have taxable income, as well as those whose taxes have already been deducted at source through Pay-As-You-Earn (PAYE), Advance Personal Income Tax (APIT), or withholding tax on bank interest.

Failure to submit returns empowers the Commissioner General to impose financial penalties, issue estimated assessments or initiate legal proceedings against defaulters.

“Even if withholding tax has been deducted from your salary, or even if withholding tax has been deducted from your interest, we expect all of you to submit the return relevant to the 2025/2026 Year of Assessment by November 30,” Inland Revenue Deputy Commissioner General J M S S Rathnawardana said.

Rathnawardana said that while the online submission portal has been open since July 1, taxpayers should file well in advance rather than waiting for the final deadline.

To complete the filing, taxpayers must log into the IRD’s RAMIS system via ird.gov.lk using a password or one-time password (OTP) sent to their registered email or postal address.

Taxpayers needing to update their email can send a written request and a copy of their National Identity Card to ci@ird.gov.lk.

The department has provided an auto-filled, simplified return for individuals whose earnings come solely from employment and interest.

Taxpayers with business income are required to complete the standard return.

“What we earnestly request from everyone—since a large volume of returns is expected to be submitted in the coming month—is not to wait until the very last moment. We have technical constraints, and we can only facilitate submissions within those system capacities,” Inland Revenue Commissioner Nandana Kumara said.

Once submitted, taxpayers will immediately receive an official electronic acknowledgment as proof of filing. The department has also set up advisory desks at its head office and regional branches, alongside call centre support on 1944, to assist filers. (Colombo/Oct19/2026)

ECONOMYNEXT – Sri Lanka’s Public Debt Management Office (PDMO) has held a pre-bid meeting with designated agents ahead of the planned issuance of a new Domestic Dollar Bond (DDB) 2026, a US dollar-denominated debt instrument aimed at diversifying government funding sources and deepening the local government securities market.

The PDMO, under the Ministry of Finance, said the DDB 2026 will be offered in the domestic market through 15 designated agents comprising primary dealers and licensed commercial banks.

A pre-bid meeting was held on October 16, with all 15 designated agents and the paying agent participating, the ministry said.

According to the PDMO, the meeting was held to provide clarification on the operational and regulatory aspects of the upcoming bond issuance.

Officials from the Central Bank of Sri Lanka’s Foreign Exchange Department, as well as the Fiscal Policy Department and Treasury Operations Department of the General Treasury, were present.

The government said the bond issue forms part of broader efforts to diversify its financing base while supporting the development of the domestic market for government securities. (Colombo/Oct19/2026)

ECONOMYNEXT – Dialog Axiata PLC has reduced its controlling stake in Doc990 operator Digital Health (Private) Limited, meaning the digital platform will cease to be a subsidiary and will become an associate company, a stock exchange filing showed.

Under the ownership reorganisation, Dialog’s wholly owned unit, Digital Holdings Lanka (Private) Limited, sold a 16.65 percent stake (3,747,132 shares) to Sunshine Healthcare Lanka Limited for 312.17 million rupees.

Digital Holdings also sold a 3.35 percent stake (752,868 shares) to Nawaloka Hospitals PLC for 62.72 million rupees, after Nawaloka exercised its right of first refusal under the shareholders’ agreement.

“The transaction enables the Company to partially monetise its investment in Digital Health while introducing Sunshine Health as a strategic healthcare partner,” Dialog Axiata Director and Group Chief Executive Supun Weerasinghe said in a regulatory filing.

Separately, Ceylon Hospitals PLC (Durdans Hospital) sold its entire 5.26 percent holding of 1,184,211 shares to Sunshine Health through tag-along rights.

Following the transactions, Sunshine Healthcare, a subsidiary of Sunshine Holdings PLC, entered the company with a 21.92 percent stake.

The share sales reduced Dialog Group’s combined stake from 64.66 percent to 44.66 percent, held through Digital Holdings and the Dialog Axiata Digital Innovation Fund.

Consequently, Digital Health will cease to be a subsidiary of Dialog and will be accounted for as an associate in its consolidated financial statements under Sri Lanka Accounting Standards.

“The transaction is expected to support the continued growth of the Doc990 platform by combining its digital healthcare capabilities with Sunshine Health’s presence across the pharmaceutical, healthcare distribution, manufacturing and retail sectors,” Weerasinghe said.

Among the remaining shareholders, Nawaloka Hospitals increased its shareholding to 12.12 percent, while Asiri Hospital Holdings PLC retains 13.33 percent and Aartiz Technologies (Private) Limited holds 7.98 percent. (Colombo/Oct19/2026)

ECONOMYNEXT — Sunshine Healthcare Lanka Limited, a subsidiary of Sunshine Holdings PLC, has acquired a 21.92 percent stake in Digital Health (Private) Limited, the operator of the Doc990 platform, for 410.83 million rupees.

The investment was completed through two separate share purchase agreements executed on October 16, the company said in a market filing.

In the first transaction, Sunshine Healthcare purchased 3,747,132 ordinary shares, a 16.65 percent of Digital Health, from Dialog Axiata PLC’s subsidiary Digital Holdings Lanka (Private) Limited for 312.17 million rupees.

On the same date, Sunshine Healthcare bought another 1,184,211 ordinary shares of Digital Health, a 5.26 percent stake, from Ceylon Hospitals PLC for 98.66 million rupees.

This acquisition took place after exercising tag-along rights under an existing shareholders’ agreement dated January 28, 2021.

Sunshine Healthcare now holds approximately 21.92 percent of the total issued shares in the digital health business.

“The above acquisition will expand the healthcare sector portfolio of the Company, strengthening the Group’s presence across the pharmaceutical, healthcare distribution, manufacturing, retail and digital health sectors,” Sunshine Holdings said.

The group added that the transaction is expected to support the continued growth of the Doc990 platform.

Digital Health is a Sri Lankan company that operates the Doc990 platform, providing digital healthcare solutions, healthcare technology platforms, and related services. Sunshine Holdings said the disclosure was made in line with Rule 8.1 of the listing rules of the Colombo Stock Exchange. (Colombo/Oct19/2026)

ECONOMYNEXT — Sri Lanka’s Colombo Stock Exchange opened flat on Monday, CSE data showed, with the benchmark All Share Price Index moving down a marginal 0.06 percent.

The ASPI was down 11.49 points at 20,173.56, while the more liquid S&P SL20 was up 0.09 percent, or 5.07 points, at 5,743.90.

Positive contributors to the ASPI were Tokyo Cement Company (up 2.67 percent at 77.00 rupees), LOLC Finance (up 2.13 percent at 4.80 rupees), Commercial Bank of Ceylon (up 0.51 percent at 199.00 rupees), Vallibel One (up 0.71 percent at 85.60 rupees), and Sri Lanka Telecom (up 2.27 percent at 81.00 rupees).

LOLC Holdings (down 0.30 percent at 410.00 rupees), Dialog Axiata (down 0.45 percent at 43.80 rupees), ACL Cables (down 1.34 percent at 88.10 rupees), and Vallibel Finance (down 1.96 percent at 79.90 rupees) were top negative contributors.

Market turnover was 232.69 million rupees. Banks led turnover with 108.38 million rupees.

Sunshine Healthcare Lanka Limited, a subsidiary of Sunshine Holdings PLC, acquired an approximate 21.92 percent stake in Digital Health (Private) Limited—the operator of the Doc990 platform—for 410.83 million rupees.

The transaction included acquiring a 16.65 percent stake from Dialog Axiata PLC’s subsidiary Digital Holdings Lanka for 312.17 million rupees and a 5.26 percent stake from Ceylon Hospitals PLC for 98.66 million rupees.

Meanwhile, Union Chemicals Lanka PLC declared a first interim dividend of 48 rupees per share for the financial year ending December 25, 2026. The record date has been set for October 28, with the dividend payment scheduled for November 13, 2026. (Colombo/Oct19/2026)