News & market updates

Singer Finance will raise Rs.2 billion via a rights issue of 75,777,778 shares at Rs.26.50 and has withdrawn a planned issue of 20 million Rs.100 debentures; proceeds are to improve its capital adequacy and for lending. The rights issue has Central Bank approval and is subject to shareholder approval at an EGM; Singer Sri Lanka holds an 80% stake.

Colombo market sustained an all-time high as the ASPI closed at 17,500.24, up 105.79 points (+0.61%) with turnover Rs.2.85bn and net foreign outflow of Rs.19.3m. Banking-led activity and retail buying drove gains, with Hayleys Fabric, Ceylinco, Ceylon Cold Stores, HNB and Ceylon Tobacco among top drivers.

Harendra Uyanage of MullenLowe Group Sri Lanka was awarded the inaugural Metal Factor Next Generation Leader Scholarship to attend the Cannes Lions International Festival of Creativity in 2025. The scholarship, chosen by a panel that included Janmesh Paul Antony of Singer Sri Lanka, aims to expose emerging leaders to global industry learning.

Samsung launched its 2025 Vision AI TV lineup in Sri Lanka (Neo QLED 8K, OLED, QLED and The Frame). Authorized dealers named include Singer and Softlogic, which may benefit from increased premium TV sales.

Samsung Sri Lanka launched its 12KG Bespoke AI front-load washing machines, available at Singhagiri, Singer, Damro and Softlogic outlets from Rs. 199,999, featuring AI Energy Mode, Super Speed, Ecobubble and Hygiene Steam.

Singer (SINS.N0000) has partnered with HUTCH to enable fully digital eSIM and SIM onboarding across Singer's island-wide branch network, offering instant eSIM activation or QR-powered SIM delivery. The tie-up also includes discounts on entry-level HONOR and ZTE smartphones.

Colombo Stock Exchange closed lower: ASPI fell 67.40 points (-0.42%) to 15,799.94. Broad profit-taking hit banks (HNB, SAMP, COMB, CTHR, NDB) while MELS, GLAS, SINS and DIST were among gainers; turnover was Rs.2.37bn with net foreign outflow.

Singer Sri Lanka PLC has partnered with Piaggio Vehicles to reintroduce Piaggio Apé diesel and electric three-wheelers in Sri Lanka through Singer showrooms. Pre-orders are open for multiple Apé passenger and cargo models, with launch offers and financing/leasing support available.

Bristo Products won the Best National Industry Brand award (Small Scale) at the National Industry Brand Excellence Awards 2024. D & A Marketing supplies Bristo cookware to retailers including Singer Sri Lanka and Cargills, and the brand is targeting further domestic and international expansion.

Singer (Sri Lanka) PLC has promoted Executive Director and CEO Mahesh Wijewardene to Managing Director. He has been on the Singer board since 1 June 2006 and served as Executive Director and Group CEO since 1 November 2018.

Dividend · Rs 0.40 · XD Apr 8, 2025

Fourth Interim dividend of LKR 0.4/share; XD 2025-04-08; record 2025-04-08; payable 2025-04-24; FY 2024/25

Singer Sri Lanka PLC won the 'People's Brand of the Year' Award for the 19th consecutive year at the SLIM-KANTAR People’s Awards 2025, also securing 'People’s Durables Brand' and 'Youth Brand of the Year' awards, underscoring its strong consumer durables brand position.

Hatton National Bank (HNB) and Singer Sri Lanka have launched an exclusive financing package for John Deere tractors offering preferential interest rates, a waived first-year credit card fee, discounted insurance and HNB Assurance life cover of Rs.4.5m (accidental) and Rs.600,000 (natural), plus Singer's warranty and service benefits.

Hatton National Bank and Singer Sri Lanka launched an exclusive financing package for John Deere tractors offering preferential interest rates, a free first-year credit card, discounted insurance and HNB Assurance life cover (Rs.4.5m accidental; Rs.600,000 natural). Singer will also provide free registration, a two-year/2,000-hour warranty, three free services, spare-parts discounts and 24/7 support.

Singer Sri Lanka PLC launched a new nubia smartphone lineup — the V70 series, nubia Music, and nubia Neo gaming series — available exclusively through Singer’s island‑wide retail and online channels.

Hayleys Plantations (Hayleys PLC) hosted its 3rd Best Tea Harvester Competition, where Anthony Iresha Rajaletchumi of Talawakelle harvested 6.2 kg in 15 minutes to win Rs. 500,000. Winners from Kelani Valley, Talawakelle and Horana estates received cash prizes and Singer Sri Lanka-sponsored goods.

Fitch affirmed Singer (Sri Lanka) PLC’s national long-term rating at 'AA-(lka)' with a Stable outlook. Fitch cited expected revenue growth of 18% in FY25, improved margins and lower borrowing costs, while noting about LKR70bn of group debt including LKR40bn at Singer Finance.

Singer Finance (SFIN.N0000) had its proposed LKR2 billion five-year subordinated debentures assigned an expected national long-term rating of 'BBB-(EXP)(lka)' by Fitch; proceeds are planned to strengthen Tier-2 capital and support loan-book expansion.

Samsung Sri Lanka held a Galaxy Unpacked event on Feb 11 at Lotus Tower to unveil the Galaxy S25 Series, with retail partners including John Keells, Singer, Softlogic and Dialog present to demo and retail the new devices. Attendees praised the S25's AI, camera and design enhancements.

Singer (Sri Lanka) PLC won the Award of Merit for Most Innovative and Informative Trade Stall at Architect 2025. As Official Furniture Partner it showcased a fully furnished modern apartment-style display covering living, dining, kitchen and bedroom solutions.

Singer (Sri Lanka) PLC was named the Official Furniture Partner for Architect 2025. The company will showcase its furniture at the event and highlighted its partnership with Malaysia’s Signature Group to offer international kitchen craftsmanship to local consumers.

Singer (Sri Lanka) PLC was named the Official Furniture Partner for Architect 2025 and highlighted its partnership with Malaysia’s Signature Group to bring international kitchen and wardrobe craftsmanship to local consumers.

Samsung launched the Bespoke AI Double Door Refrigerator series in Sri Lanka, available from LKR 304,999 and sold at Singer, Singhagiri and Damro. The line features SmartThings AI Energy Mode (up to 10% energy savings), SmartThings Home Care, Twin Cooling Plus and a 20-year compressor warranty.

Samsung Sri Lanka launched the Galaxy S25 series (S25 Ultra, S25+, S25) with up to Rs.51,850 in discounts, 2-year/2-time screen replacement (Rs.143,830 value) and bundled 1TB free data from Dialog & SLT Mobitel. Devices are available through John Keells Office Automation, Singer, Softlogic, Damro, Dialog, SLT Mobitel and authorized dealers nationwide.

Sri Lanka's ASPI fell 2.95% (500.39 pts) to 16,456.10 on Feb 5 as profit-taking triggered broad selling. Top losers included HNB, Commercial Bank, NDB, Sampath, Teejay Lanka and Singer, while Ceylinco Holdings and Lion Brewery gained; turnover was Rs 6.3bn with a net foreign outflow of Rs 343m.

Singer Sri Lanka PLC appointed Shalinka Seresinhe, Thulitha Mendis and Vajira Tennakoon as Executive Directors of the company with effect from 1 April.

Fitch assigned Singer Finance (Lanka) PLC an expected National Long-Term rating of 'BBB-(EXP)(lka)' for up to LKR1 billion five-year subordinated listed debentures. The company plans to issue 10 million bonds at Rs100 each to raise LKR1bn to strengthen Tier 2 capital and support loan-book expansion.

HNB Assurance signed an MoU with Singer Sri Lanka to enable HNB Assurance policyholders to pay premiums at Singer's 400+ outlets, with selected branches open 8:30 a.m.–7 p.m. daily including weekends. The tie-up broadens payment points and supports HNB Assurance's push for cashless and digital payment options.