Local Economy News:

Sri Lanka’s 3-month treasury bill yield increased by 1bp to 5.09%. Meanwhile, 6-month and 12-month treasury bill yields remained unchanged at 5.12% and 5.15% respectively.

https://www.cbsl.gov.lk/sites/default/files/cbslweb_documents/press/pr/press_20210412_treasury_bill_auctions_held_on_12_april_2021_e.pdf

Local News:

WB urges SL to focus on competitiveness, debt sustainability for resilient rebound (Daily FT)

A recent World Bank report stated that Sri Lanka’s economic growth is expected to recover to 3.4% in 2021E, mainly due to foreign investments as well as normalising tourism and other economic activities. However, the report highlights that slow global recovery, coupled with continued trade restrictions and Sri Lanka’s high debt burden may continue to affect growth.

http://www.ft.lk/front-page/WB-urges-SL-to-focus-on-competitiveness-debt-sustainability-for-resilient-rebound/44-716262

No IMF bail-out though various other discussions ongoing – Central Bank of Sri Lanka (Daily Mirror)

The Central Bank Governor Professor W.D. Lakshman stated that there won’t be any IMF programme negotiated by Sri Lanka. He however said there are ongoing discussions for various other matters with the IMF including technical assistance.

http://www.dailymirror.lk/business_247/No-IMF-bail-out-though-various-other-discussions-ongoing-CB/395-209849

Suspension of business of Swarnamahal Financial Services (CBSL)

The Monetary Board of the Central Bank of Sri Lanka has decided to suspend the business of Swarnamahal Financial Services (SFS) w.e.f 12 April 2021 having considered the continuously deteriorating financial condition and non-availability of a viable revival plan

https://www.cbsl.gov.lk/sites/default/files/cbslweb_documents/press/pr/press_20210412_suspension_of_business_of_swarnamahal_financial_services_plc_e.pdf

CSE Announcements:

The Colombo Stock Exchange (CSE) disclosed that ~10.5mn ordinary voting shares and ~3.4mn ordinary non-voting shares of Hatton National Bank (HNB) have been listed with effect from 12 April 2021, pursuant to a scrip dividend in accordance with the market announcement dated 19 February 2021.

https://cdn.cse.lk/cmt/announcement_portal_prod/Notification%20on%20the%20listing%20of%20shares_13153297525868.pdf

The CSE announced that 38,906 ordinary shares of Serendib Land (SLND) have been listed w.e.f 12 April 2021, pursuant to a scrip dividend in accordance with the market announcement dated 25 February 2021.

https://cdn.cse.lk/cmt/announcement_portal_prod/Notification%20on%20the%20listing%20of%20shares%20-%20SLND_13385439054174.pdf

Corporate Announcement:

It was announced that Sampath Bank (SAMP) has received 52 applications pertaining to ~63.7mn debentures amounting to ~Rs.6.4bn for its Basel III compliant, Tier 2, listed, rated, unsecured, subordinated debenture issue to raise ~Rs.5.0bn. It was further announced that 60mn of the said debentures are to be allocated to investors.

https://cdn.cse.lk/cmt/announcement_portal_prod/Final%20Figures_23111730346353.PDF

https://cdn.cse.lk/cmt/announcement_portal_prod/Basis%20of%20Allotment%20-%20%20Announcement%20(1)_30090447100382.PDF