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21 January 2021

21 January 2021

Local Economy News:

Sri Lanka’s 6-month and 12-month treasury bill yields decreased by 1bp, 3bps to 4.77%,4.99% respectively and the 3-month treasury bill yields remained unchanged at 4.70%.

Local News:

Airports open after 9 months today (Daily News)

The Bandaranaike International Airport which will open today after nine months will see the arrival of 433 passengers. Chairman of Civil Aviation Authority Upul Dharmadasa indicated that there will be multitude of passenger flights, repatriation flights and cargo flights.

GRI initiates Phase 2 of US$100mn tyre plant project (Daily News)

GRI broke ground and laid the foundation stone for the second phase of a US$100mn tyre plant project with a new manufacturing facility in Badalgama, to expand its specialty tire production capabilities to meet growing global demand for its products. This new factory is the next phase of GRI’s rapid expansion currently underway, including the new mixing facility and will total the overall investment to US$100mn.

Corporate Announcements:

The board of directors of Hayley’s (HAYL, Dipped Products (DIPD), Alumex (ALUM), Regnis Lanka (REG), Singer Sri Lanka (SINS), Haycarb (HAYC), Singer Industries (SINI), Talawakelle Tea Estates (TPL), Hayleys Fabric (MGT), Kaleni Valley Plantations (KVAL), Amaya Leisure (CONN), Hayley’s Fibre (HEXP), Unylist Engineering (ALUF), The Kingsbury (SERV), disclosed details pertaining to the sub-division of shares of the said companies. Accordingly, shares are to split as mentioned below.

Dividend Announcement:

LB Finance (LFIN) – First interim dividend Rs. 12.00 per share – XD- 02/02/2021 PD- 23/02/2021

Results for the period ended 31 December 2020:

Keells Food Products (KFP) recorded a net profit of Rs.80mn in 3Q21; (+60% YoY) consequently; 1-3Q21 net profit was recorded at Rs.198mn; (+36% YoY).

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