By Hiran H.Senewiratne
In line with Hemas’ portfolio strategy of focusing on its core sectors – consumer, healthcare and mobility – Hemas Holdings PLC (HHL) divested itself of its shareholding in Serendib Hotel PLC to Eden Hotel Lanka PLC, a subsidiary of LOLC Holdings PLC, for a total consideration of Rs. 791.7 million, CSE sources said.
Serendib Hotels PLC is the majority shareholder of Dolphin Hotels, Hotel Sigiriya, Serendib Leisure Management Ltd, Frontier Capital Lanka (Pvt) Ltd and Sanctuary Resorts Lanka (Pvt) Ltd. HHL will continue to hold a few leisure sector assets, which includes its investment in Anantara Peacehaven Tangalle Resort.
According to stock market analysts, Hemas sold 42.8 million shares at Rs. 14.20 each, which was 25 percent lower than the previous day’s price per share. Its shares started trading at Rs. 18.90 per share, however, this transaction occurred when its share price was at Rs. 14.20. Further, the company also sold 19.3 million non voting shares at the share price of Rs. 9.60, market analysts said.
Amid those developments shares ended higher for a 15th straight session, buoyed by gains in consumer staples and healthcare stocks. However, due to slight profit taking the market dropped yesterday. All Share Price Index went down by 24.74 points and S and P SL20 rose by 26.12 points. The turnover stood at Rs. 2.53 billion with a single crossing. The crossing was reported in Dipped Products, which crossed 100,000 shares to the tune of Rs. 32 million, its shares traded at Rs. 320.
In the retail market top five companies that mainly contributed to the turnover were, Serendib Hotel Rs. 618 million (43.3 million shares traded), Browns Investments Rs. 261 million (70.5 million shares traded), Serendib Hotel (Non Voting) Rs. 191 million (19.8 million shares traded), Hemas Hotels Rs. 102.7 million (1.1 million shares traded) and Melstacorp Rs. 87 million (1.8 million shares traded). During the day 221 million share volumes changed hands in 19197 transactions.
The CSE recorded foreign investments, on a net basis, while foreign loans to the government increased in October 2020. When considering both the primary market and the secondary market, the CSE recorded a net inflow of $ 21 million in October 2020. This inflow was a result of a large inflow of $ 50 million to the primary market while the secondary market recorded a net outflow of $ 29 million during the month. The Sri Lankan rupee recorded a marginal appreciation of 0.7% during October 2020, despite some volatility demonstrated in the middle of the month. Overall, the rupee has recorded a depreciation of 2.4% against the US dollar so far during the year up to December 14.
SLT-MOBITEL AkazaLMS enables corporate employee capability development
As SLT-MOBITEL, the National ICT solutions service provider, continues to play a pivotal role in driving Sri Lanka’s digital transformation through its Cloud-managed offering, SLT-Mobitel AkazaLMS takes centre-stage as the nation’s leading Learning Management System (LMS). SLT-Mobitel AkazaLMS offers a unique, locally developed, comprehensive enterprise learning solution designed to cater to diverse training needs without compromising on quality.
Commenting on the initiative Chief Enterprise & Wholesale Officer of SLT, Lakmal Jayasinghe said “Especially in today’s competitive environment where human capital is more important than ever, companies need to create a learning strategy that aligns to robust curricula, employing relevant and available learning methods and technology. Addressing this need, SLT-Mobitel AkazaLMS Cloud is an enterprise e-learning solution hosted in Sri Lanka on the top of a private cloud, providing corporate and institutional customers the ability to deliver their own learning material to their users with zero cost infrastructure. With greater convenience and without additional IT resources, customers have access to their own training needs via a simple web browser”.
Empowering corporates and educational institutes, SLT-Mobitel AkazaLMS is a comprehensive locally developed platform, containing a self-portal where the user develops their own e-learning and purchase it as a SaaS product. Especially during these challenging times, when classroom lectures are not possible and distance learning methods vital, the SLT-Mobitel AkazaLMS facilitates exams, assignments, quizzes, etc. tailor-made and customised for corporates and educational institutes targeting their own specific needs.
LIOC shows stability in earnings and margins compared to volatility during previous years
First Capital expects stability in LIOC earnings and margins ahead, compared to the significant volatility witnessed during the previous years.
“With the new pricing formula, we expect a stable outlook for LIOC which is currently trading at a TTM PER of 7.5x on FY22 earnings while also trading at a PBV of 1.5x”, they said.
“The government’s implementation of the new fuel pricing formula on 24th May 22 includes all costs incurred in importing, unloading, distributing to the stations and taxes. With that, fuel prices will be revised on a monthly basis, and if necessary, it will be reviewed every two weeks. Accordingly, the next price revision was scheduled for 24th Jun 22. Considering the price revision, In addition to that, Sri Lanka’s Cabinet has approved a bill to impose a 2.5% tax on companies with an annual turnover of LKR 120.0Mn, which will only have a marginal effect on company margins.”
“With regards to investment in joint venture, LIOC has invested in Trinco Petroleum Terminal (Pvt) Ltd (TPT) in Jan-22 and acquired 49% of the stake with CPC which holds 51% of the ownership of TPT in order to develop 61 tanks at the Trincomalee Oil Tank Farm and allied facilities in the Upper Tank Farm of the China Bay Oil Tank Farm. Also, LIOC has entered into a Lease of State Land with the Government of Sri Lanka for a term of fifty years to develop the Lower Tank Farm of the China Bay Oil Tank Farm,” First Capital said.
Apprenticeship programme in partnership with Hatch MakerStudio and Vocational Training Authority
The next generation of Sri Lanka’s industry workforce is currently studying at Technical and Vocational Education and Training institutes (TVET) all over the country. Since the manufacturing technology is under permanent development, the requirements for TVET graduates have also evolved. In order to address the industry’s needs for skilled and competent workers, the Vocational Training Authority and Hatch MakerStudio have joined forces to pilot an innovative apprenticeship programme.
The apprenticeship programme is designed for students in the field of mechatronics, robotics, automation and CNC-technologies and is focusing on the upskill, entrepreneurial mindset and problem solving capabilities. Together with industry partners, the selected apprentices will undergo a one month training programme at Hatch MakerStudio before being placed in the companies. The programme comprises of:
Product development training
Software and rapid prototyping training
Problem solving and design thinking exercises
During the course of the apprenticeship, Hatch MakerStudio will provide supervision and support for both the apprentices and companies, in order to ensure effective skills development and utilization of working power. Students with their own specific product ideas and business models can choose Hatch MakerStudio as their place of apprenticeship.
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