Business News

Ceylon Capital Management Acquires 23 Million Shares in Browns Investments PLC

Published

1 year ago

April 25, 2025

In a landmark development for Sri Lanka’s capital market, Ceylon Capital Management, led by dynamic entrepreneur and Chairman Amila Basnayaka, has acquired 23 million shares in Browns Investments PLC, further cementing its status as a major force in the country’s investment landscape.

Over the recent trading sessions, Mahesh strategically increased his stake in Browns Investments by purchasing an additional 19 million shares at market prices ranging from Rs. 6.80 to Rs. 7.30 per share. This sizable investment of approximately Rs. 134 million raises Ceylon Capital Management’s total holdings to 23 million shares, highlighting long-term confidence in Browns’ value trajectory and growth prospects.

Browns Investments PLC: A Key Growth Catalyst and Strategic Arm of LOLC Group

As a dynamic subsidiary of the LOLC Group, Browns Investments PLC spearheads strategic investments across plantations, agriculture, leisure and travel, construction, manufacturing, and real estate. With a strong focus on enhancing its core holdings and pursuing calculated acquisitions, the company continues to expand LOLC’s presence across vital sectors of the economy.

Browns Investment’s major shareholding in Hatton National Bank highlights its long-term strategy to align with top-performing institutions that promote economic growth and financial inclusion.

For the nine months ending December 2024, Browns Investments PLC reported a total profit of LKR 47.57 billion—up 117% from the previous year. Earnings per share recorded at 3.31, marking a 116% increase year-on-year. Additionally, the Net Asset Value per share was recorded at 12.07.

The company’s diversified operations span across several key sectors, including:

● Leisure & Travel: Eden Hotel Lanka PLC, Dolphin Hotels PLC, Hotel Sigiriya PLC, Excel World

● Agriculture: Hapugastenne Plantations PLC, Udapussellawa Plantations PLC, Browns Plantations Kenya, and the strategic acquisition of Lipton

● Engineering & Construction: Colombo Port City through the construction of The Colombo Marina, Browns Metal and Sands, Sierra Cables

This acquisition reflects the culmination of a journey that began in 2019, when Mr. Amila Basnayaka began personally accumulating shares in Browns Investments. Over six years, his disciplined and methodical strategy has matured into a sizable institutional presence through Ceylon Capital Management.

A Broader Vision Beyond Equities

Ceylon Capital Management is not limited to equities. Under Basnayaka’s leadership, the company has diversified into high-growth sectors that align with Sri Lanka’s and the region’s future economic landscape:

● Hospitality: Wellness Ceylon Global Pvt Ltd, focused on luxury wellness tourism

● Traditional Healing: Seth Siri Arana Global Pvt Ltd, promoting Ayurveda and meditation

● Tourism: Unithinc International Pvt Ltd, curating immersive Sri Lanka–Maldives travel experiences

● Automotive Solutions: CBN Group Pvt Ltd, meeting demand for quality vehicles

● Real Estate: Total Trust Global Pvt Ltd, facilitating sustainable property development

Each venture contributes to a cohesive long-term strategy of creating sustainable value across multiple industries and borders.

Chairman’s Insight: The Promising Future of the Colombo Stock Exchange (CSE)

By Amila Basnayaka, Chairman – Ceylon Capital Management

As the capital markets evolve, the Colombo Stock Exchange (CSE) is entering a golden era. At Ceylon Capital Management, we are excited to be at the forefront of this transition. With Sri Lanka’s economy rebounding on the back of political stability and infrastructure investment, the CSE offers a solid platform for scalable growth.

✅ Political Stability as a Launchpad for Economic Confidence

Investor sentiment is intimately tied to stability, and with a renewed focus on good governance and pro-business reforms, Sri Lanka is regaining investor trust. This is creating fertile ground for capital formation and corporate growth.

✅ Ambition to List 500 Companies by 2026

The CSE’s drive to expand its listings to 500 companies by 2026 will significantly deepen market opportunities for both retail and institutional investors. This broader base enables better diversification, liquidity, and transparency.

✅ Government-Owned Listings: A Structural Shift

The upcoming listing of state-owned enterprises represents a major policy reform that will bring transparency and public participation into the management of national assets—setting a strong example for corporate accountability.

✅ Port City as a Magnet for FDI

The Colombo Port City project is poised to attract global capital flows into finance, real estate, and logistics. With this momentum, foreign investors will increasingly view the CSE as a regional gateway to emerging Asian markets.

✅ A Hidden Gem: Lowest PE Ratio in the Region

The CSE currently offers one of the lowest price-to-earnings (PE) ratios in Asia. For discerning investors, this is a clear indicator of underlying value, offering a rare opportunity to invest in fundamentally strong companies at discounted valuations.

Expanding Horizons: Business Advisor Global – Your Gateway to the Maldives

In addition to his local ventures, Amila Basnayaka also serves as the Director of Business Advisor Global, a consultancy focused on connecting foreign investors with high-potential opportunities in the Maldives. With over 15 years of experience in the Maldivian market, the team offers:

● Regulatory guidance and market entry strategy

● Business planning, feasibility studies, and compliance

● Partnership development and stakeholder engagement

● Sectoral insights in tourism, fisheries, hospitality, and real estate

Whether you’re a first-time investor or an established enterprise, Business Advisor Global provides trusted local expertise to drive success in the Maldives.

From strategic acquisitions on the Colombo Stock Exchange to bold ventures in wellness, tourism, and regional advisory services, Ceylon Capital Management under Amila Basnayaka’s visionary leadership is redefining what it means to invest in Sri Lanka. The future of Sri Lanka’s capital market is not only promising—it’s already unfolding.

Business News

Yevan David set for historic Monaco FIA Formula 3 debut

Published

2 days ago

June 9, 2026

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Young Sri Lankan driver Yevan David is set to make his Monaco debut this weekend as the FIA Formula 3 Championship resumes after its opening round in Melbourne.

Driving for AIX Racing, the 18-year-old enters the iconic street race after testing at the Red Bull Ring, simulator preparation, and time spent balancing his racing programme with A-Level examinations.

David, the first Sri Lankan to compete in FIA Formula 3, said Monaco is one of motorsport’s biggest challenges due to its narrow layout, limited overtaking opportunities and high track evolution.

“Confidence and precision are just as important as outright speed,” David said, adding that he had focused heavily on simulator work ahead of the weekend.

The Monaco round runs from June 4 to 7, with the Sprint Race on Saturday and Feature Race on Sunday, according to the FIA Formula 3 calendar.

David will also race with a special helmet tribute to Ayrton Senna, whose Monaco performances remain among the most famous in Formula 1 history.

Business News

A New Global Marina Front Address for Sri Lanka Presented by Prime & Melwa

Published

3 days ago

June 8, 2026

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Prime and Melwa have unveiled the Prime Marina Sales Suite at Port City Colombo, a first of its kind in the region and a new benchmark for how a landmark real estate address is presented to the world. it has designed for globally minded, internationally travelled, and long past the language of conventional real estate. Every space within it is intentional, every detail deliberates crafted to ensure that the moment a customer steps in, they understand, without a word of explanation, exactly what this address represents and why it stands apart. The grandeur of the Suite set the tone unlike anything Sri Lanka’s real estate has witnessed before. Distinguished guests, business leaders, and investors from across the island and beyond gathered to witness a presentation commanding in its scale, immaculate in its execution, and resolute in its singular ambition.

“The Prime Marina Sales Suite was conceived knowing that everyone who walks in will have seen the best of what international Real Estate have to offer. Our benchmark was not Sri Lanka. Our benchmark is the world.”

Sandamini Perera, Co-Chairperson, Prime Group

A highlight of the day was the compelling presentation delivered by Mr. Sanmith Tharunya, Director of Prime Group, who took guests beyond the architecture and amenities to reveal the extraordinary vision behind Prime Marina. Through a presentation that was both inspiring and thought-provoking, he invited the audience to see beyond a conventional real estate development and appreciate the emergence of a truly global waterfront destination.

At this Suite, stands Prime Marina: an address of genuine global standing, unveiled to the world with the weight it deserves. Positioned at the very heart of Port City Colombo, on the Marina precinct, Prime Marina occupies the precise point where the iconic waterfront bridge, the Indian Ocean, and the Marina itself converge, a location that announces itself before a word is spoken, and that no other available plot in this city can claim. Rising from that singular position are landmark towers featuring 1, 2, 3, and 4-bedroom apartments and exclusive penthouses, architecturally authored by P&T Singapore, a firm whose work defines the standard across the most rigorous real estate markets in world.

Furthermore, the iconic development engaging one of Singapore’s top tier interior design companies, Index Design Pte Ltd, globally acclaimed architectural firm, to curate an exceptional interior environment that reflects the highest benchmarks of international design, craftsmanship, and luxury living.

In addition, the landscape architecture is being entrusted to Grant Associates of the UK, an internationally acclaimed landscape architecture practice renowned for creating some of the world’s most iconic and sustainable environments. Their involvement further reinforces our commitment to delivering a development that meets the highest global standards in design and aesthetics

The building commands unobstructed water on two sides: the living energy of a world class marina on one, the quiet stillness of a natural creek on the other. Prime Marina’s buyers are not simply acquiring a residence. They are claiming a rare stake in the future of a world class city destined to redefine Region’s waterfront real estate landscape.

It is the combined strength of Prime and Melwa two strong conglomerate that have shaped Sri Lanka’s economy and real estate landscape across decades, which has made a project of this scale and distinction possible

As Port City Colombo takes its place on the world stage, Prime Marina stands at its very forefront, setting a new benchmark for marina-front living in South Asia and establishing a legacy that will endure for generations to come.

Business News

Nilshani to represent Sri Lanka at UN conference

Published

3 days ago

June 8, 2026

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Nilshani de Silva, one of Sri Lanka’s leading disability rights advocates, has been selected to represent the country at the 19th Conference of States Parties to the Convention on the Rights of Persons with Disabilities, to be held at the United Nations Headquarters.

Serving as Sri Lanka’s youth representative at this year’s conference, she has also been invited to address the assembly alongside international leaders, including the United Nations Secretary-General, during the opening session on 9 June.

Notably, Sri Lanka will hold the presidency of this year’s Conference of States Parties, which is regarded as one of the world’s foremost forums dedicated to advancing and protecting the rights of persons with disabilities.

Nilshani de Silva, who has Down syndrome, is widely recognised as an advocate for the rights of Sri Lanka’s disabled community. She is also known as a skilled counsellor, teacher and fashion designer.

Reports indicate that this international recognition has been awarded in appreciation of her efforts to challenge societal misconceptions and champion the rights of persons with disabilities.