News & market updates

Colombo bourse sustained upward momentum as the ASPI rose 0.4% and the S&P SL20 gained 0.3% on turnover of Rs.6.35 bn; BIL, RICH, HNB, CFIN and LOLC were top positive contributors while JKH fell. Foreign investors were net sellers with a Rs.300 mn outflow.

Singer (Sri Lanka) PLC opened the country's first Samsung AI-powered SmartThings store at One Galle Face Mall on 17 December 2024. The Samsung-partnered store showcases smart TVs, appliances, Galaxy smartphones and home automation solutions for connected living.

Singer Sri Lanka opened the country’s first Samsung AI-powered SmartThings store at One Galle Face Mall on Dec 17, 2024, in partnership with Samsung. The store features Samsung smart TVs, appliances, Galaxy smartphones and home automation solutions for connected living.

Dividend · Rs 0.25 · XD Jan 9, 2025

Third Interim dividend of LKR 0.25/share; XD 2025-01-09; record 2025-01-09; payable 2025-01-23; FY 2024/2025

Singer Group won two Gold Awards at the TAGS Awards 2024. Singer Finance (Lanka) PLC secured Gold in the Finance Companies, Leasing Companies & Other Financial Institutions category for groups with total assets between 25bn and 75bn.

Singer (Sri Lanka) PLC won the Retail Sector Award at the Best Corporate Citizen Sustainability Awards 2024 for the second consecutive year. The company highlighted ESG initiatives including solar-powered factories, use of energy-efficient R600a refrigerant, recycled materials in production and plans to adopt IFRS S1/S2.

Aitken Spence won the Ceylon Chamber Best Corporate Citizen Sustainability Award 2024. Shortlist firms recognised included Talawakelle Tea Estates (Category B winner), Sampath Bank (runner-up and finance sector champion) and other shortlist companies such as Dilmah, Haycarb, Kelani Valley, Elpitiya, Jetwing Symphony, Hemas, Singer and Ceylon Tobacco.

Aitken Spence won the Grand Slam Award at the 21st Best Corporate Citizen Sustainability Awards 2024. Shortlisted companies receiving awards included Sampath Bank, Talawakelle Tea Estates, Kelani Valley and Elpitiya Plantations, Jetwing Symphony, Haycarb, Dilmah, Hemas, Singer and Ceylon Tobacco.

Aitken Spence PLC won the Grand Slam Award at the 21st Best Corporate Citizen Sustainability Awards 2024 after claiming the Best Corporate Citizen Sustainability Award 2024. Multiple other listed firms (including Sampath Bank, Talawakelle, Kelani Valley, Dilmah, Haycarb and others) were also recognised across categories.

Singer Plc appointed Antonio Jonathan Alles as an independent non-executive director effective Nov 22 and named him to the audit, related party transaction, nominations & governance and remuneration committees. Alles is a 37-year banking veteran, ex-MD/CEO of Hatton National Bank and former chair of the Sri Lanka Banks Association.

Hisham Jamaldeen resigned from the boards of Hayleys PLC, Singer (Sri Lanka) PLC, Haycarb PLC and Talawakelle Tea Estates PLC, with the resignation effective November 14, the companies said in stock exchange filings.

Singer Finance (Singer Finance (Lanka) Plc) will issue 10 million five-year tier-2 subordinated unsecured bonds at Rs100 each to raise Rs1 billion, subject to central bank and regulatory approvals. Fitch notes SFL's 'BBB(lka)' rating and expects support from parent Singer (Sri Lanka) PLC.

The Institute of Supply and Materials Management held National Supply Chain Day on 24 Oct 2024 in Colombo, hosting an international seminar and awards attended by ~400 participants. The event featured CEOs from Dialog and Singer, and listed firms including Hayleys, Lion Brewery, Dipped Products, CIC, Alumex, DIMO and Haycarb were among nominees.

Colombo stock market ended the week with marginal losses — the ASPI fell 0.5% for the week (up 0.6% on Friday) with Friday turnover of Rs. 2bn. Ceylon Tobacco announced an interim dividend of Rs. 40.90 per share; notable moves included gains in Royal Ceramics, Dipped Products and Lanka Milk Foods and a decline in John Keells.

RR Donnelley Outsource (Pvt) Ltd won the FITIS Cricket 6’s 2024 men's championship on 2 November 2024, while Metropolitan Technologies won the women's title. The industry event was sponsored by MSI and Mastercard, with gold sponsors including Singer Sri Lanka PLC and participation from Softlogic Information Technologies.

Colombo market fell for a third day as ASPI lost 77 points to 12,719 on profit taking, with turnover up at Rs.3.2bn and net foreign inflow of Rs.200m (Rs.199.8m into JKH). Banking and capital goods led activity while several counters (COMB, MELS, DFCC, RICH, NDB) weighed on the index.

Colombo Stock Exchange closed down: the ASPI fell 0.60% to 12,719 on turnover of Rs3.1 billion. John Keells contributed Rs1.2bn to turnover; most banks (HNB, COMB, SAMP, NDB, DFCC) were down while Dilmah Ceylon Tea, Co-operative Insurance, Singer and Vallibel One were among top gainers.

Singer (SINS.N0000) has partnered with SLT-MOBITEL to sell SLT-MOBITEL SIM cards and initial reloads in 410 Singer showrooms and offer discounted 4G/5G device upgrades bundled with data packages.

SINGER Sri Lanka PLC will launch the Apple iPhone 16 series in Sri Lanka from October 21, 2024. The company says it will offer easy payment options and is targeting the premium smartphone market with the new lineup.

Singer Sri Lanka PLC was named a Title Sponsor (with Honor) for the Sri Lanka vs West Indies cricket series running Oct 13–26, covering T20I and ODI matches.

Richwin Plaza was named Best Mobile Phone Seller of the Year and Richwin Investment and Credit was named Best Emerging Micro Finance Company at the Iconic Awards 2024; awards were received at a ceremony at BMICH in Colombo.

Uber Eats launched the 'Get Almost, Almost Anything' campaign in Sri Lanka to expand delivery beyond food to groceries, beauty, pet care, electronics and home appliances. The wider range could create an additional sales/delivery channel for local consumer retailers such as Singer and Abans.

Dividend · Rs 0.18 · XD Oct 9, 2024

Second Interim dividend of LKR 0.18/share; XD 2024-10-09; record 2024-10-09; payable 2024-10-22; FY 2024/25

Uber Eats launched the 'Get Almost, Almost Anything' campaign in Sri Lanka to expand deliveries beyond food to include groceries, beauty, pet care and electronics. The move broadens on-demand delivery options and raises competitive pressure on local appliance and electronics retailers.

FITIS announced sponsors for FITIS Cricket 6’s – 2024; Singer Sri Lanka PLC is listed as a Gold Sponsor for the tournament.

Samsung Sri Lanka launched the Galaxy A06, to be sold island-wide through John Keells Office Automation, Softlogic Mobile Distribution, Singer and Dialog network partners.