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Market Indicators
15 June 2021

16 June 2021

Global News:

Another shipping crisis looms on Covid fears in southern China (CNBC)
Businesses and consumers are bracing for another shipping crisis, as a virus outbreak in southern China disrupts port services and delays deliveries, threatening to drive up costs again. Brian Glick, founder and CEO at supply chain integration platform stated that the disruptions in Shenzhen and Guangzhou are absolutely massive. Alone, they would have an unprecedented supply chain impact.

Local News:

CPC to build new storage facility at Hambantota Intl. Port (Daily FT)
The Ceylon Petroleum Corporation (CPC) has signed a Memorandum of Understanding with the Hambantota International Port Group (HIPG) to develop Hambantota Port as a strategic energy centre in Sri Lanka. A separate storage terminal with associated facilities for both domestic and export purposes connected to the port via a pipeline is to be established by CPC, about 15 km away from the port.

Apparel industry says no need to panic over EU P’ment’s GSP+ resolution (Daily FT)
Joint Apparel Association Forum (JAAF) Secretary General Tuli Cooray stated that there is no need to panic yet and that there have been many instances where such resolutions have been adopted in countries and there is a procedure to be followed. He further stated that if the GSP+ status is withdrawn from Sri Lanka, it will reflect a 12% increase in export cost to the EU.

Sri Lanka excise department contemplating a limited license for online liquor orders (Economy Next)
Commissioner of Excise Kapila Kumarasinghe stated that the Excise Department of Sri Lanka can issue a limited and conditional license to “wine stores” to distribute liquor online, provided the Ministry of Finance approves it. He further stated that the department has received requests from the industry, supermarket chains and consumers to permit online liquor orders.

CSE Announcements:
The CSE has approved in principle an application for listing the debt securities of the Singer Finance (Lanka) (SFIN)

Corporate Announcements:
Sanasa Development Bank (SDB) as informed that the slips transfers have been completed on 2 June 2021 pertaining to the final dividend of Rs.2.25. However, due to prevailing pandemic situation, bank is unable to post dividend cheques on 18 June 2021.

Asia Asset Finance (AAF) has announced date pertaining to its right issue with XR date 9 July 2021 and last date for renunciation to CDS is on 30 July 2021.

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