Things are not going to get easier in 2022. So the apparel industry will just have to get stronger By A. Sukumaran – Chairman, Joint Apparel Association Forum Despite having faced down another tumultuous year, the Sri Lankan apparel industry has shown remarkable resilience in 2021, and we believe the advances we have made over…
It is learnt that in wake of the rising Covid count and increasing positivity rate, the BCCI secretary Jay Shah’s office was forced to redraw BCCI’s 2021 schedule. India’s top cricketers might be returning to South Africa in a few months time. With India’s Covid-19 curve showing an alarming upswing, the BCCI has put in place a…
Sovereign debt restructuring can be pre-emptive or post-default. A default is inherently costly as it can result in a sustained loss of access to capital markets. That leaves pre-emptive restructuring when a country deems itself unable to service outstanding debt. The complex creditor landscape of today though makes governments reluctant to entertain sovereign debt restructuring….
The Government of Sri Lanka (GOSL) is perturbed over yesterday’s announcement by S&P Global Ratings, at a time when the GOSL has diligently lined up adequate funds to repay its maturing foreign debt liabilities and its repeated assurances over the strong commitment to oblige its debt service payments, including the International Sovereign Bond (ISB) maturing…
Standard & Poor’s (S&P) Wednesday (12) lowered long-term sovereign credit rating on Sri Lanka from ‘CCC+’ to ‘CCC’ on increasing external financing risks. There is a rising probability of sovereign default scenarios playing out over the next 12 months in the absence of an unforeseen positive development, S&P in a statement said the outlook is negative. At the same…
The initial public offering (IPO) of shares of Hela Apparel Holdings Limited (Hela Clothing), one of the largest IPOs ever in Sri Lanka, received an overwhelmingly positive response, being oversubscribed within hours of the offer opening on the 12th of January 2022. Having successfully raised LKR 4 billion in equity capital for Hela Clothing, the…
Dr. Narangoda was further appointed to the respective Boards of Millennium I.T.E.S.P. (Private) Limited, Dankotuwa Porcelain PLC and its subsidiary Royal Fernwood Porcelain Limited Ambeon Holdings PLC announced the appointment of Dr. Sajeeva Narangoda as Executive Director to the Holding and Management Company Ambeon Holdings PLC. In addition, Dr. Narangoda was also appointed to the…
The Initial Public Offering (IPO) of Hela Apparel Holdings Limited, through an offer for subscription of 267,108,998 shares at a price of Rs. 15 per share, which opened today (12th January 2022) was oversubscribed on the initial day itself. The IPO by Hela Apparel Holdings Limited received applications for over the IPO value of Rs….
Pelwatte Dairy Industries Limited (PDIL), the Sri Lankan dairy giant, has not slowed down its production or output but is effectively navigating Sri Lankan diary industry’s annual “Lean Season of December-April” sequence. Susantha Malwatte, the Deputy General Manager of Pelwatte Dairy Industries Limited said: “There is no truth in the social media reports which incorrectly…
The construction of the second phase of the Eastern Terminal of the Colombo Port will commence today under the patronage of President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa. With the planned construction beginning today, the length of the Eastern Terminal will increase to 1,320 meters letting the Sri Lanka Ports Authority (SLPA) to handle…
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