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Hela Clothing to go for an IPO, Nestle scoffs at delisting rumours

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By Hiran H.Senewiratne 

Sri Lankan  Apparel maker “Hela Clothing” is planning for an Initial Public Offering (IPO) at the Colombo Stock Exchange (CSE) within this year  to raise capital for entry into North Africa and for expansion of its East African operations.

An entry into Egypt’s $1 billion apparel market will help boost the company’s value by about 11 percent  to $250 million by the end of the financial year in March, stock brokers said.

Hela will set up shop in the North African nation in the first quarter of 2022 and work with existing manufacturers, leveraging the country’s fabric mills, lace suppliers and mature supply chain to reduce lead times.

Amid those developments high-value stocks witnessed decline due to sluggish economic conditions and fear of spreading the Covid 19 Delta variant, which resulted in many countries to impose lockdowns, stock markets analysts said. If the variant spreads in Sri Lanka, another lockdown would be an unbearable shock to the economy, stockbrokers said.

Therefore 140 companies’ stocks were down and only 41 companies’ stocks moved up. However LOLC Development Finance was the major contributor for the All Share Price index, which contributed 68.5 points despite being down. Both indices moved down. All Share Price Index down by 17.86 points and S and P SL20 down by 31.34 points down. 

Turnover stood at Rs 2.3 billion sans a single crossing. In the retail market, the top five companies that mainly contributed to the turnover were LOLC Rs 1.06 billion (2.59 million shares traded), Hayleys Rs 108.9 million (1.44 million shares traded), Browns Investments Rs 96.2 million (16 million shares traded), Expolanka Rs 73.7 million (1.48 million shares traded), and Royal Ceramic Rs 65.2 million (1.83 million shares traded).

The market witnessed a negative investor sentiment  but LOLC Development Finance was very active and its share price appreciated by 35 percent or Rs 123.75. Its share price startered trading at Rs 495 at the end of the day its price shot upto Rs 618.75.

Nestle share price appreciated on Monday with the purchasing of its shares by the parent company (Nestle in Switzerland) on the previous day. However, Nestle share price declined yesterday as certain rumours were scoffed at by the Nestle parent company and indicated that they had no idea of delisting from the CSE, market analysts said.  Its share price witnessed a steep drop by Rs 83.50 or six percent to Rs 1361.50 from Rs 1444.50.

During the day 60 million share volumes changed hands in 23083 transactions.

 

 



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Sri Lanka Tourism introduces e-learning platform for all SLTDA registered tourist guides.

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As an initiative to uplift the reviving tourism industry in the country, Sri Lanka Tourism Development Authority in collaboration with Sri Lanka Institute of Tourism & Hotel Management (SLITHM) have introduced the continuous professional development (CPD) e-learning platform to all registered guides to enhance their knowledge and skills.

The launch of the continuous professional development (CPD) e-learning platform took place this week under the patronage of Minister of Tourism Prasanna Ranatunga, Secretary of the Ministry S. Hettiarachchi and Sri Lanka Tourism Chairperson Kimarli Fernando.

“Tourist guides play an important role in our tourism sector as they spend a lot of time with visitors from arrival to departure. It is important that our guides stay updated on their professional/technical knowledge and I hope this e-learning platform by Sri Lanka Tourism will help them enhance their knowledge and skills” Sri Lanka Tourism Chairperson Kimarli Fernando shared while the Minister congratulated all the officials who were involved in bringing this initiative to reality.

Knowledge improvement, obtaining expertise knowledge from veterans, develop active participation with guests, improve the link between Tourism institutions & guides are some key objectives of this e-learning platform.

If you are a registered guide with SLTDA, you can now sign up on https://sltda.gov.lk/e-learning/login and avail of the online courses.

A certificate of completion will be given at the end of the course from SLTDA and SLITHM.

 

 

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Impact of Climate Change on marine and fresh water resources and combating water pollution

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Trilateral virtual dialogue among Pathfinder Foundation, Russian International Affairs Council and Asian Confluence

The Pathfinder Foundation (PF) has initiated a trilateral dialogue involving Sri Lanka, India and the Russian Federation to discuss issues of contemporary relevance. The first trilateral dialogue will be held to day 4:30 PM SLST on the “Impact of Climate Change on Marine and Fresh Water Resources and Combating Water Pollution: Best Practices from Russia, Sri Lanka and India”.

For this dialogue, Pathfinder Foundation will be partnering with Russian International Affairs Council and Asian Confluence.

The distinguished panellists for the webinar are, Ambassador GlebIvashentsov, Vice President, Russian International Affairs Council, Ambassador (Retd.) Bernard Goonetilleke, Chairman Pathfinder Foundation, Ambassador. IFS(Retd.) Rajiv Kumar Bhatia, Member Governing Council, The Asian Confluence and Distinguished Fellow, Gateway House,Dr. Anastasia Likhacheva, Director, Centre for Comprehensive European and International Studies, Higher Schoolof Economics, Dr. B. V. R. Punyawardena, Chairman, National Steering Committee on Climate Change Adaptation, Governmentof Sri Lanka, Dr. Fraddry D’Souza, Area ConvenerandFellow, The Coastal Ecology & Marine Resources Centre, TERI Goa,India , Dr. Konstantin Zgurovsky, Senior Advisor, Marine Programme, WWF Russia, Mr. Sarath Premalal, Retired Director General of Meteorology of Sri Lanka and Prof. Vinay Kumar Dadhwal, Director, Indian Institute of Space Science and Technology Professor Indira Gandhi Chair, National Institute of Advanced Studies, India

Those who are interested in participating may kindly register at the following link; https://bit.ly/3AZbYAN Program details are available at https://bit.ly/3zdUkY3 . The event will also be live streamed on the PF Facebook Page https://www.facebook.com/pathfinderfoundation/

 

 

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Doc990 and MyDoctor partner SLVA to extend accessible veterinary services islandwide

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Sri Lanka’s premier digital health solutions service providers, Doc990 and MyDoctor are now enabling customers to access online veterinary services island-wide in partnership with the Sri Lanka Veterinary Association.

The national professional body serving and representing the interests of the veterinary profession in Sri Lanka, the Sri Lanka Veterinary Association (SLVA), is dedicated to providing continued excellence within the profession of animal medicine and the provision of outstanding care for all animals while also actively creating public awareness of the contribution of veterinarians island-wide.

This collaborative effort with Doc990 and MyDoctor will bring pet owners, owners of farm animals and good Samaritans the ability to access remote video consultations with leading, specialist veterinarians of their choosing, without the hassle of physically entering hospital waiting rooms, transporting animals etc. This timely, contactless service will not only be convenient but also a relief to pet owners and caretakers in the backdrop of travel restrictions as a result of the ongoing global pandemic.

Customers can engage in video consultations with their chosen vet by downloading the Doc990 mobile app from the Google Play Store or the Apple Store. Through its widening network of hospitals and medical services, Doc990 strives to make health care accessible and convenient for all Sri Lankans.

 

 

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