Government to establish Agricultural Modernization Task Force President Ranil Wickremesinghe has unveiled an ambitious plan aimed at revolutionizing Sri Lanka’s agricultural sector. The proposed initiative involves the establishing of an Agricultural Modernization Task Force, which is set to encompass all crops and sectors within the industry. Addressing the critical need for collaboration between the government…
1H 2023 Revenue recorded at Rs97.7Bn up 20% YTD 1H 2023 NPAT recorded at Rs11.8Bn recording over 100% growth YTD Total Taxes Paid to GoSL Rs21.9Bn for 1H 2023 which included Rs6.4Bn in Direct and Rs15.5Bn in Indirect Taxes; The total taxes paid increased 29% YTD Capex Investments of Rs14.0Bn in first half; OFCF reached…
Financial Year 2023/24 – First Three Months Performance Chief Executive Officer’s Review Hemas delivered a healthy performance for the first three months of the financial year 2023/24, effectively navigating the macroeconomic headwinds as the country moves towards an economic stabilising phase. The Group posted a revenue of Rs. 29.1 billion, a 17.2 per cent growth…
Special Forum Witnesses Key Discussions on Enhancing Bilateral Trade COYLE, the Chamber of Young Lankan Entrepreneurs, during a Special Forum in July 2023, brought together prominent figures and stakeholders to discuss ways to strengthen trade relations between Sri Lanka and Egypt. Amongst the esteemed gathering was His Excellency Maged Mosleh, the Ambassador of the Arab…
President Ranil Wickremesinghe emphasized the importance of capital, particularly financial and human, for driving growth. He noted that Sri Lanka’s historical capital formation efforts had been disrupted over the years, leading to current financial struggles. He pointed out that while the country had accumulated capital up to 2019, subsequent events such as the COVID-19 pandemic…
Seylan Bank, has demonstrated exceptional resilience and growth in challenging market conditions, recording an impressive Profit before Tax (PBT) of LKR 4.2 billion, a 104.65% increase for 1H 2023 compared to the same period in 2022. In addition, the Bank achieved a commendable Profit After Tax (PAT) of LKR 2.6 billion, a 71.29% growth over…
Mr. Sujeewa Peiris was elected to the Board of the Colombo Stock Exchange (CSE) with effect from 09th August 2023. Mr. Peiris joined Bartleet Group in 1990 and has played a pivotal role in the growth and development of Bartleet Religare Securities (Pvt) Ltd., formerly known as Bartleet Mallory Stockbrokers. Having started his career in stock brokering as a Documentation Officer, Mr. Peiris has progressed to become a leading and highly recognized Stockbroker/Investment Advisor licensed by the Securities and Exchange Commission of Sri Lanka…
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 billion, despite a decline in earnings. Sri Lanka’s first multinational textile manufacturer has reported revenue of Rs 14 billion for the three months ending 30th June, reflecting a reduction of…
Sri Lanka – Singapore Business Council of The Ceylon Chamber of Commerce The Sri Lanka – Singapore Business Council (SLSBC) of The Ceylon Chamber of Commerce elected Mr. Shiluka Goonewardene, Head of Deal Advisory at KPMG, as President of the Council at the 26th Annual General Meeting conducted recently. Concluding 25 years of operation the SLSBC has…
The Securities and Exchange Commission of Sri Lanka (SEC) and CFA Society Sri Lanka are pleased to announce the successful renewal of their Memorandum of Understanding (MoU), signifying a strengthened commitment to fostering the development of the capital market in Sri Lanka. On the occasion of signing the MoU, Mr. Faizal Saliah, Chairman of SEC,…
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