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Monday December 11th, 2023
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Sri Lanka's Hela Apparel Holdings was downgraded by Fitch Ratings to 'BB+(lka)'; Outlook Negative.
Several investors have expressed interest
A security officer as well as the Omani national had been injured.
The facility has the capacity to produce 1.5 million bra cup pairs per month
NDB Investment Bank Limited was the financial advisor.
Five markets are showing potential including Canada, India, China, Australia, and Japan.
Colder winters expected in Western markets due to the energy crisis
New tax hikes will be effective from December 1
Decline in export orders could slowdown Sri Lanka's economic recovery
GSP+ is an annual trade concession worth over 500 million US dollars
India's Jay Jay Mills already has factories employing 9,500 workers
"It will also simplify some season tariffs, meaning additional and simpler access for Sri Lanka's exports to the UK."
FTZMA said the high tariffs which are driving up cost of production would make Sri Lankan products highly uncompetitive
Customers are sending questionaries to exporters on a daily basis inquiring about the country's situation.
Sri Lanka’s ongoing crisis situation is affecting the apparel industry, with many overseas brands having already moved...
| Latest | Last | |
|---|---|---|
| US Dollar | 330.2942 | 315.1016 |
| UK Pound | 429.0139 | 401.1871 |
| Euro | 372.1704 | 343.1959 |
| Aus Dollar | 227.2526 | 211.5951 |
| Yen | 2.3820 | 2.1908 |
| Latest | Last | |
|---|---|---|
| Indian Rupee | 3.6453 | 3.5932 |
| Korea Won | 0.2342 | 0.2292 |
| Oman Rial | 780.3569 | 769.4973 |
| Saudi Riyal | 80.1114 | 78.9849 |
| UAE Dirham | 81.7952 | 80.6569 |
| pts | % | |
|---|---|---|
| S&P SL20 | 2,573.80 | 1.00% |
| CSE All Share | 9,073.41 | 0.65% |
| Turnover Rs million | 1,591,766,524.95 | 1,029,335,694.32 |
| Latest | Last | |
|---|---|---|
| 3-m bill | 21.72 | 21.79 |
| 6-m bill | 19.55 | 20.31 |
| 12-m bill | 17.72 | 19.28 |
| 5-yr bond | 21.00 | 22.53 |
| 8-yr bond | 19.42 | 20.55 |
| today | yesterday | |
|---|---|---|
| Overnight Money | 13.93 | 14.00 |
| Gilt Repo | 13.50 | 14.00 |
| I-m SLIBOR | - | - |
fuel shortages are affecting our ability to transport our goods and provide staff transport
"We are confident that we will have the GSP plus for a while. But it does not mean that we should take it lightly."
The company sells through its own stores multi-brand outlets, and e-commerce channels across India and Sri Lanka
In the case of apparel, nearly 80 percent of the employees are predominantly rural women,
Apparel sector had helped build 11 Covid-10 care centres where 4,500 beds are available for workers
The industry association has revamped its website and logo recently
Strong order book, rising raw material costs
The collection to represent unity
Hopes vaccinate the entire workforce before the end of 2021.
Hela Clothing creates over 2,000 jobs in Kenya during the pandemic
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