Colombo, Sri Lanka – 02 October 2026 – Jetwing Symphony PLC (JETS), a prominent player in Sri Lanka’s hospitality sector, today announced the settlement of several significant related party transactions by its subsidiaries. This corporate disclosure, made under Section 8 of the Listing Rules of the Colombo Stock Exchange (CSE), highlights the company’s commitment to robust corporate governance and transparency.
Key Settlements Underpin Financial Integrity
The announcement, uploaded to the CSE web portal on October 2, 2026, confirms that subsidiaries of Jetwing Symphony PLC successfully settled the outlined related party transactions on September 30, 2026. This move aligns with regulatory requirements designed to ensure fairness and prevent conflicts of interest within listed entities.
The disclosures, formally communicated to Ms. Nilupa Perera, Chief Regulatory Officer of the Colombo Stock Exchange by G Corporate Services (Private) Limited, on behalf of Jetwing Symphony PLC, detail specific inter-company financial movements.
Details of the Disclosed Transactions
The core of the disclosure pertains to loans that were extended by Jetwing City (Pvt) Ltd, a fully owned subsidiary of JETS, to other entities within the Jetwing ecosystem. These loans, originally bearing an interest rate of AWPLR (Average Weighted Prime Lending Rate) + premium per annum, have now been settled. The settled transactions include:
- A loan of Rs. 125 million to Pottuvil Point (Pvt) Ltd, also a fully owned subsidiary of JETS.
- A loan of Rs. 100 million to Negombo Hotels Ltd.
- A loan of Rs. 100 million to Jetwing Hotels Ltd.
- A loan of Rs. 100 million to Saman Villas Ltd.
The cumulative value of these settled transactions amounts to Rs. 425 million, reflecting a significant internal financial restructuring and clean-up operation.
Implications for Jetwing Symphony PLC and Investors
The settlement of related party transactions is a critical aspect of corporate governance. By addressing these internal financial obligations, Jetwing Symphony PLC demonstrates its commitment to strengthening its balance sheet and enhancing financial clarity. Such proactive measures are often viewed positively by investors, as they reduce potential complexities associated with inter-company dealings and reinforce the company’s adherence to best practices.
This disclosure comes as the Sri Lankan tourism sector continues to navigate evolving market dynamics. Strong financial foundations and transparent corporate practices are essential for companies like JETS to maintain investor confidence and pursue strategic growth initiatives effectively.
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