Access Engineering PLC, Sri Lankan civil-engineering construction contractor, has formally notified the Colombo Stock Exchange (CSE) that shareholders of South Asia Commercial and Logistics Hub Limited have mutually agreed not to proceed with the South Asia Commercial and Logistics Hub Project, thereby leading to an expected company-level loss of approximately Rs 310 million. 

According to the regulatory disclosure signed by Managing Director Rohana Fernando, the decision was made due to changes in external circumstances, including adjustments to the project’s implementation environment and timetable, alongside commercial considerations among shareholders. The project was previously disclosed to the market on 24 April 2023.

Access Engineering PLC holds a 15% shareholding in South Asia Commercial and Logistics Hub Limited, having invested approximately Rs 1.762 billion into the project.

Under the agreed-upon settlement terms, Access Engineering expects to recover a total of approximately Rs 1.453 billion. This anticipated recovery consists of:

A settlement refund of $ 3.286 million (equivalent to approximately Rs 1.087 billion).

Approximately Rs 365 million representing the company’s proportionate share of available distributable funds.

The recovery estimates are calculated based on an indicative exchange rate of $ 1 = Rs 331.

In its audited consolidated financial statements for the year ended 31 March 2026, Access Engineering had already recognized its share of losses totaling approximately Rs 387 million, bringing the Group carrying value of the investment to Rs 1.38 billion.

The company stated that final financial figures remain subject to prevailing exchange rates on payment dates, finalization of settlement arrangements, and standard accounting adjustments.