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Monday September 25th, 2023

Sri Lankan hotels offer to set up quarantine facilities

ECONOMYNEXT- Three hotel chains in Sri Lanka; Cinnamon, Citrus and Serendib, have offered properties to be used as quarantine centers to prevent the spread of the coronavirus in the island.

The 150-room Citrus Waskaduwa, Serendib Leisure’s 154-room Club Dolphin in Negombo and the 81-room Trinco Blu by Cinnamon have been offered to the government as quarantine facilities.

John Keells Holdings Plc Chairman Krishan Balendra had written to President Gotabaya Rajapaksa yesterday offering the Cinnamon property in Trincomalee to be used as a quarantine centre on a temporary basis, should the need arise, the firm said in a statement.

Citrus Leisure Plc in a statement said its occupancies have fallen to a bare minimum due to global travel restrictions, and would continue to drop further in the future.

“The Board of Directors of Citrus Waskaduwa (Waskaduwa Beach Resort PLC) took into account the current crisis faced by the Nation and the world at large,” the firm said.

“…in keeping with the Group’s Nation mindedness ethos, the Board decided to offer its 150 roomed resort, Citrus Waskaduwa to be used as a quarantine center by the National Operations to Prevent Covid – 19 on a temporary basis, should the need arise.”

“In the event that the Authorities decide to use the resort temporarily, the resort will be completely decontaminated in keeping with international standards before normal resort operations commence.”

Hemas Holdings Plc’s Serendib Leisure has also offered up its Club Dolphin as a quarantine center.

In Vietnam over 150 hotels have registered with the government to provide facilities for quarantine as thousands of overseas Vietnamese return home. Restrictions on foreigners began only this week.

In addition to free quarantine provided by the government, incoming passengers could also choose from a range of paid options up to 5 star category for 14 days. Vietnam also tests arrivals.

Sri Lanka has halted arrivals except for returning Buddist pilgrims.

Sri Lanka has imposed an islandwide curfew, which will be temporarily lifted for eight hours on Monday for most of the country, and on Tuesday for the west coast cities Colombo, Gamapaha and Puttalam district.

So far, 77 coronavirus infected individuals have been identified, including a Chinese national who had recovered and left the island. (Colombo/Mar21/2020)

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Sri Lanka sells 2028 bonds at 14.52-pct

ECONOMYNEXT – Sri Lanka sold all offered bonds in 2026 and 2028 maturities raising 220 billion rupees from an auction Monday, data from the state debt office showed.

The debt office sold 135 billion rupees of 1 June 2026 bonds to yield 15.64 percent.

Another 85 billion rupees in 01 July 2028 bonds were sold to yield 14.52 percent.

The 2028 bond is offered on tap at the weighted average yield. (Colombo/Sept25/2023)

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Sri Lanka’s stocks end down on Monday after slow day of trading

ECONOMYNEXT – Sri Lanka shares were down at close of trading on Monday.

Turnover was 550 million rupees.

The main All Share Price Index was down 0.36 percent or 40.02 points to 11,216.50, while the S&P SL20 was down 0.44 percent or 14.07 points to 3,164.52.

Trading in the Capital Goods Industry (174,037,134) drove turnover.

Commercial Bank, Expolanka Holdings, and Aitken Spence plc saw losses, while National Development Bank, John Keells Holdings and Melstacorp saw gains in the day’s trading.

The market saw a net foreign inflow of 13 million rupees, while the yearly net foreign inflow was 429 million rupees. (Colombo/Sep25/2023)

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Sri Lanka rupee closes at 324.75/324.90 to the US dollar

ECONOMYNEXT – Sri Lanka’s rupee closed at 324.75/90 to the US dollar on Monday, from Friday’s close at 324.70/325.00 dealers said.

Bond yields were up.

A bond maturing on 01.07.2025 closed up at 15.55/15.70 percent on Monday, after closing at 14.95/15.30 percent on Friday.

A bond maturing on 01.08.2026 closed up at 15.50/15.65 percent up from 14.95/15.10 percent.

A bond maturing on 15.09.2027 closed up at 14.75/15.50 percent from 14.55/15.00 percent.

A bond maturing on 01.05.2028 closed up at 14.25/14.60 from 14.00/14.30 percent.

A bond maturing on 15.05.2030 closed stable at 13.00/13.50.

A bond maturing on 01.07.2032 closed at 12.95/13.45 percent from 13.00/13.45 percent. (Colombo/Sept25/2023)

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