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Hela Clothing Investor Forum wraps up successfully

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(L to R) Deshan Pushparajah – Managing Director of CAL Investment Bank, Moiz Rehmanjee – Group CFO of Hela Apparel Holdings Ltd., A. R. Rasiah – Chairman of Hela Apparel Holdings Ltd., Dilanka Jinadasa – Group CEO of Hela Apparel Holdings Ltd. and Zakir Mohamedally – Group COO and Head of Investment Banking of CT CLSA Holdings.

With its IPO drawing nearer, Hela Apparel Holdings Limited (the holding company of the Hela Clothing Group) engaged with investors through a special investor forum on the 5th of January 2022. The hybrid event was held at the Galle Face Hotel, with numerous participants attending virtually.

The fundraise, the largest IPO in nominal terms for over a decade, attracted analysts and investors from Sri Lanka and abroad with active participation being witnessed from institutions, high net-worth individuals and retail investors. At the event, Hela Clothing’s senior management team and other top stakeholders presented their case and engaged with investors.

Discussing Hela Clothing’s investor forum, Dilanka Jinadasa – Group CEO of Hela Apparel Holdings said, “It’s truly amazing to see the level of interest for this IPO and that too from a wide spectrum of investors. It’s not often that you get to be a part of a team that’s built a global company sought after by the public. We are truly excited for the next phase of our journey and proud to be able to share it with a wider group of stakeholders this time.”

Hela Apparel Holdings Limited is set to offer 267,108,998 ordinary voting shares to the public at a price of LKR 15.00 per share, through its IPO, which is scheduled to open on 12th January 2022. Jointly managed by CT CSLA and CAL, the issue aims to raise approximately LKR 4 billion in equity capital from investors, through the sale of a 20.5% stake in the company, which is expected to result in a market capitalization of LKR 19.5 billion. The company, with revenues generated exclusively in USD, is forecasting a revenue of USD 270 million for this financial year .

Through its global expansion initiatives, the company has also emerged as a leader in Africa’s apparel revolution. Hela Clothing provides manufacturing solutions to some of the world’s top luxury apparel brands including Tommy Hilfiger, Calvin Klein, Michael Kors and Karl Lagerfeld, through its 11 manufacturing facilities located in Sri Lanka, Kenya, Ethiopia and soon in Egypt.

Hela Clothing’s IPO prospectus and all other relevant information can be easily accessed via the company’s dedicated microsite, https://ipo.helaclothing.com/.



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Berendina bags Silver at the CA Sri Lanka 56th Annual Report Awards

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From left: Sarath Chandra Fernando - Director-BMIC, Charith Fernando - Deputy Managing Director-BMIC, Saman Manatunga - Acting Head of Finance-BMIC, Dilhara Jayasinghe - Assistant Manager Compliance & Corporate Relationship-BMIC, Ranel T Wijesinha - Past President CA Sri Lanka, Jagath Godakanda – Chairman-BMIC, Chaaminda Kumarasiri – Chairman-Annual Report Awards Committee 2021 and Chamila Cooray - Alternate Chairperson-Annual Report Awards Committee 2021

Berendina Micro Investments Company Limited, better known as BMIC among its microfinance clientele and partners, won the Silver award at the 56th Annual Report Awards organized by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), under the category of Finance Companies and Leasing Companies (total assets up to Rs. 20 Billion). Over 70 companies, ranging from conglomerates, multinationals to non-profit organisations, and SMEs, were honoured at this year’s competition for their excellence in financial reporting. The gala event of this year held on 09th December 2021 at BMICH. Being the first Microfinance Company licensed by the Central Bank of Sri Lanka, BMIC is no stranger to this annual competition having won a prestigious Gold Award in 2017 and Merit Award in 2018.

The award from CA Sri Lanka is the fourth award to be won by BMIC during the financial year 2021, having won 3 international awards, namely, ‘The Best Microfinance Company in Sri Lanka’ and ‘The Best Agricultural Lending Company in Sri Lanka’ awards from the UK based Global Banking and Finance Review magazine as well as ‘Donor’s Choice Award’ at the international competition conducted by SCALE Green Creative Adaptation Awards in USA in 2021. Focused on poverty alleviation, BMIC as a Microfinance Institution (MFI) extends micro-credit facilities and enterprise development services that ensure long term sustainability and growth of business ventures of its clients, providing loans at the lowest interest rate compared to other MFIs in Sri Lanka. At present, BMIC manages a loan portfolio of over Rs. 3.1 billion and an annual turnover exceeding Rs. 900 million. It supports well over 70,000 microfinance clients through its 30 Branches in 11 districts. The CA award bestowed on BMIC is another testament to its commitment in continuously supporting its clients to overcome the obstacles during difficult times, while preserving its transparency in reporting, corporate governance, sustainability and social responsibility.

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SLIC repositions Business Club insurance with more focus on SMEs

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Sri Lanka Insurance last week announced repositioning of its Business Club insurance, a trade insurance policy which provides a comprehensive business insurance solution to fit for the diverse insurance need of small and Medium enterprises (SME).

“According to the Export Development Board of Sri Lanka SMEs are considered to be the backbone of the economy with a contribution up to 52% of the GDP. SMEs play a crucial role to battle the poverty in the country providing employment opportunities for the youth as the SMEs does not require capital than large firms. Further SMEs increase tax bases much quickly when compared to large firms,” an SLIC news release explained.

“Recognizing the importance and vital contribution made to the economy by SMEs, Sri Lanka Insurance went back to the drawing board to refine the “Business Club” comprehensive insurance solution to cater to the unique requirements of the businesses,” it said.”

“Therefor the insurance solution was developed to reinforce the success and safety of the businesses.”

The insurance plan will provide protection for any businesses be it retail, grocery store, supermarket, pharmacy or any other covering many perils inclusive of environmental dangers such as floods, cyclone, fire, lightning as well as other factors such as breaking and burglary, SLIC explained.

The release further said an array of main covers are available for businesses inclusive of fire and/or lightening, explosion, malicious damage, aircraft damage, earthquakes along with the free covers such as cost of removal of debris, loss of rental, architect, surveyors, consulting engineering fees, cost of alternative accommodation etc..

A range of additional covers are also available at an additional premium for businesses to choose. Money insurance during transit and while at premises, accidental breakage of glass cover, sign board cover, electronic equipment all risk cover are among the many additional covers offered.

Interested parties who’d like SLIC to assist in developing an insurance solution that covers the business risks can contact SLIC call center on 011 2 357 357.

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German fruit and tea importers stresses importance of packaging

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Jan Paul Bethke, a leading German importer of Sri Lankan fruits and tea, at a recent

EDB-organized event, urged Sri Lankan agri-product exporters to practice effective and superior packaging if they are to be successful in terms of capturing markets in Europe.

“If you package your product well, include a QR code (incorporating extensive details such as the farmer who grew products), and convey a personalized story, customers in advanced markets such as Germany and Europe would develop an affinity with your products”, Bethke noted.

He made these remarks at a Jan. 12 forum forum organized by the Sri Lanka Export Development Board (EDB) on packaging and value addition strategies to enhance Sri Lanka’s agri-product exports to Germany, an EDB news release said.

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