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. …
Apparel
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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 …
Despite challenges, SL’s positioning remains unmatched in high-end apparel manufacture
Director of Stretchline Holdings Norman Collier Globally successful manufacturing destinations for high-end apparel have three defining characteristics. …
Investors continue to cash in on the Sri Lankan apparel sector’s resilience
Investors are cashing in on the strong prospects of Sri Lanka’s apparel and textile exports sector, the country’s main export industry, which caters to …
JAAF commends industry’s resilience as apparel export earnings rise 30-pct YoY in May
The Joint Apparel Association Forum (JAAF) thanked all industry stakeholders for their outstanding resilience in ensuring that the sector continued to meet its …
South Asia Textiles commits to SBTi to limit global warming at 1.5°C
South Asia Textiles (SAT), a fully-owned subsidiary Hayleys Fabric PLC, also joined its parent company in committing to the Science-Based Targets initiatives …
“Export outlook dims amidst economic challenges” latest CCC-USAID export barometer survey says
Findings from the latest bi-annual Export Barometer Survey indicate that exporters are losing confidence in the industry’s outlook, as firms face mounting …