Acquisition of South Asia Textiles Likely to Weigh on Hayleys Fabric Earnings in Short-term
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.
TTEL Consolidates Sustainability Drive with Gold Status
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.
Dipped Products Sales Could Moderate After Pandemic Fuelled Performance Last Year
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.
Singer Finance to Raise Rs. 2Bn via Listed Debenture
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.
Fitch Rates Singer Finance’s Sub-Debt Final ‘A-(lka)’
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)’.
