At the weekly E-Auction held on 27 July, Kelani Estate achieved an all-time record price of Rs. 1,550 per kg for a Low Grown BOP grade. This line of tea was purchased by Shan Teas Ltd., and marketed by Forbes and Walker Tea Brokers Ltd. Kelani Estate, which comes under the purview of Kelani Valley…
Contributes 6,241,500kWh of power per annum to national grid Largest single rooftop solar installation in Sri Lanka Hayleys Fabric further reduced its carbon footprint by 15 percent with the installation of the largest private sector rooftop solar power system in Sri Lanka, contributing 6,241,500kWh of power per annum to the National Grid. Installed by sister…
Singer (Sri Lanka) PLC, the country’s premier consumer durables retailer, announced the appointment of the music sensation, Falan Andrea as the new Brand Ambassador for Singer Hi-Fi range. The MoU which was signed at the Singer Head Office, Colombo will see Falan Andrea collaborating with the retail giant on product launches, events and promotion campaigns…
Hayleys Fabric Manager – Sustainability and Innovation Leonie Vaas becomes first Sri Lankan to win Global round of SDG Pioneers for 2021 at UN Global Compact’s Leaders Summit United Nations, New York: The United Nations Global Compact announced 10 new SDG Pioneers – business leaders who are doing an exceptional job to advance the Sustainable…
Amaya Leisure PLC has been renamed as Hayleys Leisure PLC with effect from 30 June 2021, though the properties will retain the Amaya brand. Hayleys and related companies control 65% stake of the venture. Amaya Leisure group comprises of 10 properties, including one in the Maldives. The subsidiaries are Culture Club Resorts, which runs Amaya…
The purchase of South Asia Textiles Limited by Hayleys Fabric PLC could in the short-term weigh on the combined entity earnings due to decline in margins and the increase in finance cost stemming from the borrowings, which may have been made to fund their April acquisition. Hayleys Fabric PLC on April 23 paid Rs.3.95 billion…
Talawakelle Tea Estates PLC (TTEL), a leading member of the Hayleys Plantations Sector, obtained the Gold status for all three steps of Measure, Reduce and Contribute under the Climate Neutral Now (CNN) initiative of the United Nations Framework Convention on Climate Change (UNFCCC), setting another regional benchmark in the plantations industry. One of several initiatives…
The pace of business growth could moderate at Dipped Products PLC in the medium term after the global glove maker for industrial and medical needs recorded soaring sales fuelled mostly by the pandemic and the shift in sales from a key global supplier, which together pushed the firm’s profits to its highest-ever levels. The Hayleys…
Singer Finance PLC plans to raise Rs. 2 billion via the issuance of Listed, Rated, Unsecured, Subordinated Redeemable Five Year debentures of Rs. 100 each. It will issue 10 million debentures initially and in the event of an oversubscription a further 10 million will be offered. Type A debentures would be at a fixed coupon…
Fitch Ratings has assigned Singer Finance (Lanka) PLC’s (SFL, A+(lka)/Stable) Sri Lanka rupee-denominated subordinated unsecured debentures a final national long-term rating of ‘A-(lka)’. The assignment of the final rating follows the receipt of documents conforming to information previously received. The final rating is in line with the expected rating assigned on March 22, 2021.The debentures…