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Market Indicators
25 November 2020

25 November 2020

Local News:

US$165mn from ADB to help Lankan SMEs recover from COVID-19 (Daily Ft)

The Asian Development Bank (ADB) has approved a US$165mn (over Rs.30bn) loan to Sri Lanka to provide immediate financing support for small and medium-enterprises (SMEs), which have been severely affected by the coronavirus disease (COVID-19) pandemic, and long-term financing to underserved SMEs, including businesses led by women and tea smallholders.

Extended debt moratorium welcomed (Daily Ft)

Sri Lanka Association of Inbound Tour Operators (SLAITO) and its ‘One Industry One Voice’ initiative have commended the Government for extending debt moratorium for the tourism industry till September 2021. Furthermore, SLAITO indicated that It is a major relief for the tourism industry, which has been negatively impacted due to the Easter attack and the COVID-19 pandemic,

Apparel industry hails Budget; confident of recovery from 2021 (Daily Ft)

The Joint Apparel Association Forum (JAAF) expressed confidence in revival of the country’s biggest export sector next year onwards aided by policy direction and support outlined in the Budget 2021 as well as recovery in key markets post-COVID-19. It was further indicated that JAAF is pleased to see such policy direction at this critical time for the export-oriented industries.

Corporate Announcements:

Serendib Land (SLND) has announced that the company has decided to reschedule the AGM to Friday, 18th December 2020 and has further indicated that, there will be a change in the XD Date and the Date of payment of the First and Final Dividend of the Company for the year ended 31st March 2020.

HNB Assurance (HASU) has disclosed details pertaining to the Sub-division of shares and accordingly  has announced  that it is based on the shareholding as at end of trading on 01st December 2020 and the company’s Shares would be suspended from trading from 02 December 2020 to 04 December 2020 (inclusive of both dates), for the purpose of updating the CDS records and furthermore, the Company’s shares will commence trading subsequent to the sub-division of Shares on 07 December 2020.

Bogawanthalawa Tea Estates (BOPL) has disclosed a related party transaction with Metropolitan Resource Holdings to dispose Bogawanthalawa Tea Ceylon which represents 22mn ordinary shares for the consideration of Rs.104mn on  20 November 2020.

Dividend announcements:

Kelani Tyres (TYRE) – First interim dividend of Rs.5.00 per share – XD: 03/12/2020 – PD: 23/12/2020

Melstacorp (MELS) – First interim dividend of Rs.2.50 per share – XD: 04/12/2020 – PD: 24/12/2020

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