CEO’s Review – Hemas Holdings PLC Hemas Holdings PLC reported a consolidated Group revenue of Rs. 13.0 billion, a decline of 1.6% during the first quarter of the financial year 2020/21, compared with the same period last year. Group EBIT at Rs. 415 million for the period is Rs. 395 million higher than the previous…
Pre-tax profitability static year-on-year at LKR 5 Bn Post-tax profitability up by 34% to LKR 3 Bn Healthy balance sheet expansion of 6% to LKR 562 Bn Loan book expansion of 5% to LKR 429 Bn and customer deposits expansion of 6% to LKR 428 Bn Cost to income ratio improved to 36% CBSL moratorium…
Teejay Lanka PLC has reported operating profit of Rs 15.2 million and profit before tax of Rs 13.9 million for the first quarter of 2020-21 but posted a nominal net loss – its first since being listed on the Colombo Stock Exchange (CSE) – directly as a result of the loss of production and orders…
The Australian Aid programme through S4IG – Skills for Inclusive Growth will be implementing a Pandemic Preparedness course with the direction of Sri Lanka Tourism Development Authority (SLTDA) targeting the Small and medium-sized enterprises (SMEs) of the hospitality industry. The programme was launched on 12 August 2020 in Colombo by David Holly, Australian High Commissioner for Sri…
Sri Lanka’s banking sector will face a sharp increase in non-performing loans (NPLs) in the second- quarter and beyond with the expiration of the moratorium period, analysts said. “Asset quality in banks and finance companies was deteriorating for the last 3 years. The construction sector, which the banks had the highest credit exposure to, often suffered liquidity…
99X Technology is pleased to announce that Tracified, a company incubated within its innovation center/accelerator StartupX Foundry, has received an equity investment from 360ip, a venture capital firm based in Tokyo. Tracified is a blockchain-based traceability solution. Mano Sekaram, CEO and Co-Founder of 99X Technology and Founder of StartupX Foundry commented: “I’m delighted to see…
The global economy took a steep downward trend with the outbreak of COVID – 19 pandemic epicentre shifting from China and East Asia to the United States and Europe. Most countries declared prolonged lockdowns and movement restrictions with a view to controlling the disease, which severely hampered worldwide economic activity and global trade from March…
Consolidating its stance as a Sri Lankan family business expert, Capital Alliance Partners Limited (CAL) advised Sunshine Holdings PLC on the acquisition of Daintee Limited. The transaction was structured by CAL to enable the Sunshine Group to expand its operations in the FMCG space with the use of Daintee’s well established brands, thereby maximizing the…
First Capital Holdings PLC (the Group) the only listed investment bank in Sri Lanka, recorded a Consolidated Profit after Tax of LKR 1.07Bn for the year 2019/20, amidst negative headwinds that saw Sri Lanka, reporting subpar economic growth for the third consecutive year. The results show a significant growth compared to LKR 8Mn in the…
Colombo Chamber of Commerce felicitates Prime Minister Mahinda Rajapakse and the new Cabinet and State Ministers appointed with the clear mandate given by people of Sri Lanka at the general election. The mandate further conveys the confidence placed on President Gotabaya Rajapakshe to deliver the aspirations of the Nation which was conveyed beyond any doubt…
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