Tag: lbo.lk
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. Firstly, they have robust secondary supply chains – which are critical to ensuring the timely availability of all required inputs. The importance of this becomes apparent once you consider that to manufacture an item like a bra, producers […]
DIMO together with Kalmar uplifts Sri Lanka’s port and inland container terminal operations
DIMO, a leading diversified conglomerate in Sri Lanka, and Kalmar, a global industry forerunner in port and inland container terminal automation and in energy-efficient container handling solutions, are geared to enhance and uplift local container terminal operations to the next level. This partnership reflects DIMO’s commitment to continuously fuelling the dreams and aspirations of the […]
JKH records EBITDA of Rs.13.33 billion in Q1; Resilient performance despite macro challenges
Summarised below are the key operational and financial highlights of our performance during the quarter under review: • Group EBITDA recorded a significant improvement to Rs.13.33 billion during the quarter under review, which is an increase of 180 per cent against the comparative period of last year [2021/22 Q1: Rs.4.76 billion]. The first quarter of […]
SLT-Mobitel announces national proposal: Focused on technology and digitally empowered citizens
– SLT-MOBITEL, the leading communication and technology service provider in Sri Lanka announced a national proposal to enhance critical services and sectors, and digitally empower citizens. SLT-MOBITEL, one of the most powerful players in the telecommunications and technology sector, cites archaic legacy systems, inefficiency, corruption, heavy operational costs and waste in critical sectors and services […]
Blockchain platform SORA announced launch XOR currency in Sri Lanka
XOR – a blockchain-based currency under SORA – a blockchain-platform that holds XOR (the currency code for the cryptocurrency SORA) announced the launch of the cryptocurrency in Sri Lanka in July 2022. SORA (XOR) isn’t owned by any single nation or individual, but belongs to all of its users, and is designed as a new […]
Invest to progress, not to regress: bridging the infrastructure gaps in Sri Lanka
By : Tiffahny Hoole and Janani Wanigaratne Sri Lanka is going through a crisis of a magnitude that has never been witnessed in its economic history. The country is in disarray as people wait in lines to purchase essentials. Official reserve assets have plummeted to a US Dollar 1920 1 million by May this year […]
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 some of the leading fashion brands globally. Although the South Asian island announced that it would default on its foreign debt earlier this year, the country’s exports and Foreign Direct Investment […]
Statement from CA Sri Lanka on ongoing political crisis
The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), in its standing as the National Body of Accountants, welcomes the announcement of President Gotabaya Rajapaksa to step down on July 13th, which was conveyed to the people by the Speaker of Parliament Honourable Mahinda Yapa Abeywardena, on the eve of July 09th CA […]
SriLankan Airlines denies reports of flight cancellation
SriLankan Airlines would like to correct certain false information circulating on media about the possible cancellation of a host of SriLankan Airlines’ flights due to the ongoing fuel shortage in Sri Lanka. SriLankan Airlines vehemently denies the accuracy of such information and confirms that it has been able to manage its flight schedule with suitable […]
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 commitments in the face of unprecedented challenges, as apparel export earnings expanded by 30% Year-on-Year (YoY) up to US$ 446 million in May 2022. Accounting for approximately 6% of Sri Lanka’s Gross […]
Pan Asia Bank ties up with Ria, world’s 3rd largest money transfer platform
As The Truly Sri Lankan Bank, Pan Asia Bank continues to add value to customer experience. In its latest customer-centric initiative, Pan Asia Bank is partnering with Ria Money Transfer, the US based third-largest remittance platform in the world, to offer its customers a wider choice of low-cost money transfer channels. With a worldwide network […]
Trillium Property Management ground breaks on USD 10Mn duplex apartment project
Trillium Property Management, a luxury apartment owner, developer, and operator, recently held the groundbreaking ceremony of its latest 60 upscale duplex (two stories) apartment project with exclusively designed 2 villas at at No:33, Lionel Edirisinghe Mawatha, Colombo 05. Chairman of Trillium Property Management Janaka Ratnayake graced the event, amidst a gathering of distinguished guests, including […]