Time is running out: JAAF calls on GoSL to urgently reconsider SVAT abolition
With the countdown to the forthcoming abolition of the Simplified Value-Added Tax (SVAT) system ticking down to an end date of 1 st April 2025, the apex body …
Apparel
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JAAF welcomes electricity tariffs reduction :Calls for continued energy policy reforms
The Joint Apparel Association Forum (JAAF) welcomed the recent decision by the Public Utilities Commission of Sri Lanka (PUCSL) to implement a 25.3 percent …
Star Garments Group expands to Togo to build its first overseas manufacturing facility
Star Garments Group (“Star”) announced its plan to build a large-scale apparel export manufacturing factory in Togo to boost the West African country’s …
Sri Lanka’s Apparel Industry Hosts the First Textile and Apparel Roadshow in the UK
The Sri Lanka Export Development Board (EDB), Sri Lanka Apparel Sourcing Association (SLASA), Sri Lanka High Commission in the UK, and Joint Apparel …
Hela Apparel Holdings PLC Acquires Major UK-Based Apparel Brand Licensing House
In a landmark move for the Sri Lankan apparel industry, Hela Apparel Holdings PLC has announced the acquisition of a major UK-based apparel brand licensing …
Fitch Downgrades Hela Apparel Holdings to ‘BB+(lka)’; Outlook Negative
Fitch Ratings has downgraded Sri-Lanka based Hela Apparel Holdings PLC's National Long-Term Rating to 'BB+(lka)', from 'AA- (lka)'. The Outlook is Negative. …
Teejay optimistic with capacity expansion despite challenging Q1
Teejay Lanka PLC has begun 2023-24 with a strong balance sheet, closing an extremely challenging first quarter with cash and cash equivalents of Rs 9.6 …
Teejay ends 2022-23 with 70-pct revenue growth despite tough H2
Posts revenue of Rs 84 billion for full year; Rs 17.3 billion in Q4 Sri Lanka’s first multinational textile manufacturer Teejay Lanka PLC has ended …
Fitch Downgrades Hela Apparel Holdings to ‘AA-(Ika)’; Outlook Negative
Fitch Ratings has downgraded Sri Lanka- based apparel manufacturer Hela Apparel Holdings PLC's National Long-Term Rating to 'AA-(Ika)', from 'AA(Ika)'. The …
Sri Lanka’s export earnings decline to 11.3-pct in Jan 2023: Imports down 29.2-pct
• The deficit in the merchandise trade account narrowed in January 2023, compared to a year ago. • Export earnings declined while import expenditure …
Norfund to support development of Hela Apparel Holdings’ East African operations with USD 14Mn investment
Norfund, the Norwegian government’s investment fund, with a mission to support sustainably driven business operations in developing countries, recently …
MAS announces joint venture with Tata Group’s Trent Ltd in India
MAS Amity Pte. Ltd., a subsidiary of MAS Holdings, signed a joint ventureagreement with Tata Group’s Trent Ltd, setting up an entity in India for the joint …
Apparel industry calls for urgent action of FTAs to maintain resilient performance
The Joint Apparel Association Forum (JAAF) has urged the Government to urgently expedite negotiations on Free Trade Agreements (FTAs) to enhance the …
Teejay Lanka consolidates in Q2 to post 6-month revenue of Rs 48.6 billion
A doubling of synthetic fabric volumes, higher selling prices and the impacts of the depreciation of the Rupee have generated strong growth for Teejay Lanka …
Free-Trade-Agreements essential to enhancing Sri Lankan apparel’s resilience
With fears of a global economic recession looming, the Joint Apparel Association Forum (JAAF) is actively stepping up engagement with top Government and …
SL Purchasing Managers’ Index: Sept 2022 manufacturing PMI decline
Manufacturing PMI declined in September 2022, indicating a setback in manufacturing activities on a month-on-month basis. Accordingly, Manufacturing PMI …
Hayleys Fabric strengthens biodiversity regeneration efforts, Partners with CEA and local universities
Strengthening its commitment to drive biodiversity regeneration and environmental conservation, Hayleys Group subsidiary and leading textile manufacturer …
“There is opportunity in crisis” – JAAF Secretary General
Apparel industry proves resilient in the face of adversityTotal apparel exports in July 2022 ($ 522.14 million) - 22.4% increase YoY As Sri Lanka struggles …
Sri Lanka’s export earning up 12.9-pct from Jan-Jul
Earnings from exports increased in July 2022, while import expenditure declined for the fifth consecutive month, on a year-on-year basis. The notable decline …
UK-based supply chain start-up Kavida AI to help reduce risk profile of Sri Lanka’s apparel sector
UK-based Digital Supply Chain Start-up - facilitated by The American Chamber of Commerce (AMCHAM) in Sri Lanka, have launched Resilient Sri Lanka a new …