Category: Industry
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 […]
Q3 performance at JKH Group sees turnaround in Leisure business
Summarised below are the key operational and financial highlights of our performance during the quarter under review: • Group EBITDA recorded a significant increase of 126 per cent to Rs.9.53 billion during the quarter under review against the comparative period [2020/21 Q3: Rs.4.21 billion]. • The Group’s businesses recorded strong growth in profitability compared to […]
Loops wins big at SLIM DIGIS
Award-winning creative-led integrated marketing agency, Loops Integrated, received 6 recognitions, including a Gold, at the SLIM DIGIS Awards, held on the 25th of January 2022. Loops Integrated received the only Gold DIGI in the Banking and Finance category for Softlogic Invest’s “This Could Be You” campaign, a Silver DIGI in the Performance Marketing category for […]
Cargills Online becomes first ecommerce platform to integrate LANKAQR
Cargills Online has become the first and currently the only e-commerce platform in Sri Lanka to integrate LANKAQR for delivery thereby providing greater convenience to its customer base together with its wide merchandise offering. LANKAQR is a project initiative to ensure all QR codes and QR based transactions in Sri Lanka are standardized and interoperable. […]
Hambantota Port to begin MGO fuel bunkering operations; first supply vessel calls at port
Oil tanker ‘Sunny Bay’ carrying 15,000 metric tons of Marine Gas Oil (MGO), called at the Hambantota International Port (HIP) on the 23rd January. The vessel was the first to discharge MGO for storage at the port’s tank farm. HIP, with its global partner Sinopec, launched bunkering operations for VLSFO last year. Now, with the […]