Category: Industry
Hela Apparel Holdings’ records year-to-date revenue of Rs 41.6 Bn
Hela Apparel Holdings Limited (the holding company of the Hela Clothing Group) ended its third quarter on a high note, having exceeded its annual performance for FY2020/21 within the first 9 months of the current financial year. The Group recorded year-to-date revenue of Rs 41.6 billion, which represents a growth of 88% compared to the […]
Sri Lanka explores batik, handloom and local apparel opportunities in Russia
Ambassador of Sri Lanka to the Russian Federation Prof. Janitha Abeywickrema Liyanage together with the delegation headed by the Sri Lankan State Minister of Batik, Handloom and Local Apparel Products Dayasiri Jayasekara visited Russian Association of International Cooperation. The delegation was received by the Vice-Chairman of Russia-Sri Lanka Friendship Society Vladimir Polozkov and Board Member […]
Teejay Lanka 9-month revenue up 64-pct to Rs 36.1Bn
Improved demand from the region and enhanced capacity have helped Teejay Lanka PLC to post Group revenue of Rs 36.1 billion for the nine months ending 31st December 2021 and record strong topline growth of 64% over the corresponding period of the previous year. A period described by Chairman Mr Bill Lam as less disrupted […]
‘s economic policies
Explaining the economic policy of the future SJB government, Eran Wickramaratne M.P. said that the SJB has already decided to allow the use of chemical fertilizer in order to promote export- oriented value -added commercial agriculture. He also said that future SJB government will give priority to exports and the government will mediate directly to […]
Hemas Group revenue up by 21.9-pct over last year
Hemas Holdings PLC (HHL) recorded a Group revenue of Rs.57.7 billion, an increase of 20.5 percent over last year. The underlying cumulative operating profit of Rs.4.9 billion, excluding all disposed entities, reported an increase of 4.3 percent over last year in spite of profitability pressure experienced across most parts of the business due to input […]
Ajit Gunewardene to be appointed Chairman of Teejay Lanka
Teejay Lanka PLC, Sri Lanka’s largest textile manufacturer, has announced that business leader Ajit Gunewardene is to be appointed Chairman with effect from 17th February 2022, consequent to his appointment as an independent non-executive director of the Company on 1st February. Gunewardene, a former Deputy Chairman of John Keells Holdings (JKH) and a former Chairman […]
PUCSL says demand for electricity can be managed during month of February
The Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator, stated that the demand for electricity can be managed during the month of February starting tomorrow. Accordingly, the proposal made by the Ceylon Electricity Board (CEB) for a power interruption will not be allowed until the 4th of February 2022. The CEB had […]
”; Outlook negative
Fitch Ratings has downgraded Singer Finance (Lanka) PLC’s (SFL) National Long-Term Rating to ‘A(lka)’ from ‘A+(lka)’. The Outlook is Negative. The agency has also downgraded SFL’s outstanding senior unsecured debt to ‘A(lka)’ from ‘A+(lka)’, and its outstanding subordinated unsecured debentures to ‘BBB+(lka)’ from ‘A-(lka)’. KEY RATING DRIVERS NATIONAL RATING The downgrade on SFL’s rating is […]
Consolidation of Non-Bank Financial Institutions on track; Rs 12.6bn fresh capital introduced: CBSL
The Non-Bank Financial Institutions sector has witnessed a significant improvement in compliance with regulatory capital requirements and has recorded the lowest non-compliance levels during recent times, Sri Lanka’s Central Bank said. According to the Central Bank, the following 9 companies have already introduced fresh capital of Rs 12.56 billion to meet regulatory capital requirements. Sarvodaya […]
Aitken Spence partners with Delegation of German Industry & Commerce in Sri Lanka
Aitken Spence PLC, the diversified blue-chip organisation recently partnered with the Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) to promote key industries in Sri Lanka to draw German investments. Aitken Spence represents three major German brands namely, TUI, Hapag Lloyd and DB Schenker. Aitken Spence Travels is a joint venture […]
Sri Lankan apparel must target opportunities arising from post-COVID rebalancing of global trade
Small and medium scale apparel producers have called on the authorities to assist the sector in expanding Sri Lanka’s apparel production capacity, to capitalise on the opportunities stemming from the on-going post-COVID rebalancing of global trade. These views were expressed at the recently held 26th Annual General Meeting (AGM) of the Sri Lanka Chamber of […]
Hela Apparel Holdings IPO oversubscribed by 5.4 times
Hela Apparel Holdings (the holding company of the Hela Clothing Group) made history this month with the successful oversubscription of the largest initial public offering (IPO) in the past decade. The IPO, which sought to raise Rs 4 billion through the issue of new shares, was oversubscribed by 5.4 times and received applications amounting to […]