ASPI (+30 points, +0.59%)
S&P SL20 (+10 points, +0.45%)
Market Indicators as at
6 August 2020
News : 7 August 2020
SLPP allies in North and East add five more seats to give the government a two-thirds majority (Economy Next)
The National Elections Commission has announced that the governing Sri Lanka Podujana Peramuna won 145 seats in the 225-member unicameral parliament and smaller allies in the minority-dominated Northern and Eastern province collectively won 5 seats taking the alliance up to 150 seats.
Aitken Spence to reopen five Maldives resorts before 01 September 2020E (Daily Mirror)
Aitken Spence Hotel Holdings (AHUN) has announced that five of the hotel group’s Maldives resorts will reopen to international guests by 01 September 2020E. The luxurious five-star resort of Adaaran Prestige Vadoo was the first of Aitken Spence’s Maldives properties to welcome back guests in the Maldives on 27 July 2020 with four other properties expected to open by 01 September 2020E.
It was announced that Watawala Tea Ceylon Limited, which is a fully owned subsidiary of Estate Management Services (Private) Limited, which in turn is a fully owned subsidiary of Sunshine Holdings (SUN), has entered into a share sale and purchase agreement with the current shareholders of Daintee Limited on 06 August 2020 to purchase 100% shareholding amounting to 10mn ordinary shares at a total consideration of Rs.1.7bn subject to terms and conditions of the agreement.
Results for the period ended 30 June 2020:
SUN reported a 1Q21 net profit of Rs.321mn (-4% YoY)
Talawakelle Tea Estates (TPL) reported a 1Q21 net profit of Rs.107mn (vs. a 1Q20 net profit of Rs.5mn)