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Comprehensive Analysis of the latest Financial Performance of Richard Pieris and all group companies. #srilanka 

Free Download Link: https://easyupload.io/uexmvn

Overview of Financial Performance
The financial performance of Richard Pieris and Company PLC for the twelve months ended 31 March 2024 indicates several critical issues. The company has experienced significant declines in profitability, efficiency, and overall financial health compared to the previous year, with key metrics highlighting ongoing financial difficulties.


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1. CaCsh Generation from Operations: Cash generated from operations declined substantially, reaching Rs. 7,918,485,000 in 2024 compared to Rs. 11,177,445,000 in 2023.
2. Operating Cash Flow: Net cash from operating activities improved slightly, reaching Rs. 4,373,392,000 in 2024 compared to Rs. 3,768,754,000 in 2023. However, this increase is insufficient to counterbalance the overall financial declines and reflects the company's ongoing liquidity challenges,
3. Investing and Financing Activities: Net cash used in investing activities was Rs. 3,703,315,000, highlighting ongoing capital expenditures that are not yielding immediate financial returns. Additionally, net cash flows used in financing activities amounted to Rs. 46,298,000, further stressing the company's cash reserves.
4. Cash Equivalents: The company ended the period with a negative cash and cash equivalents balance of Rs. 8,351,475,000, down from Rs. 9,067,851,000 at the beginning of the period. This negative cash position is a significant concern for the company's short-term financial stability.


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Conclusion
Richard Pieris and Company PLC's financial performance for the period ended 31 March 2024 presents a concerning picture of declining profitability, rising costs, and weakening liquidity. The company must take urgent steps to improve cost control, enhance operational efficiencies, and strengthen its cash flow management to stabilize its financial position and ensure long-term sustainability.


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Financial Woes at Richard Pieris Group
Comprehensive Analysis of the latest Financial Performance of Richard Pieris and all group companies. #srilanka Free Download Link: https://easyupload.io/uexmvn


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Comprehensive Analysis of the latest Financial Performance of Richard Pieris and all group companies. #srilanka

Free Download Link: https://www.srilankachronicle.com/download?id=611

Overview of Financial Performance
The financial performance of Richard Pieris and Company PLC for the twelve months ended 31 March 2024 indicates several critical issues. The company has experienced significant declines in profitability, efficiency, and overall financial health compared to the previous year, with key metrics highlighting ongoing financial difficulties.



1. Cash Generation from Operations: Cash generated from operations declined substantially, reaching Rs. 7,918,485,000 in 2024 compared to Rs. 11,177,445,000 in 2023.
2. Operating Cash Flow: Net cash from operating activities improved slightly, reaching Rs. 4,373,392,000 in 2024 compared to Rs. 3,768,754,000 in 2023. However, this increase is insufficient to counterbalance the overall financial declines and reflects the company's ongoing liquidity challenges,
3. Investing and Financing Activities: Net cash used in investing activities was Rs. 3,703,315,000, highlighting ongoing capital expenditures that are not yielding immediate financial returns. Additionally, net cash flows used in financing activities amounted to Rs. 46,298,000, further stressing the company's cash reserves.
4. Cash Equivalents: The company ended the period with a negative cash and cash equivalents balance of Rs. 8,351,475,000, down from Rs. 9,067,851,000 at the beginning of the period. This negative cash position is a significant concern for the company's short-term financial stability.



Conclusion
Richard Pieris and Company PLC's financial performance for the period ended 31 March 2024 presents a concerning picture of declining profitability, rising costs, and weakening liquidity. The company must take urgent steps to improve cost control, enhance operational efficiencies, and strengthen its cash flow management to stabilize its financial position and ensure long-term sustainability.



Financial Woes at Richard Pieris Group
Comprehensive Analysis of the latest Financial Performance of Richard Pieris and all group companies. #srilanka Free Download Link: https://easyupload.io/uexmvn

Hypothetical future market trend based on reversing the Colombo Stock Exchange ASPI movements during GR/Covid19 (2019-2022) period in which Sri Lanka suffered from its worst economic crisis in its history resulting in debt default/bankruptcy #srilanka

God Father wrote:Colombo Stock Market: ASPI Movement
#Srilanka
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I agree.Lack direction.

Colombo Stock Market: ASPI Movement
#Srilanka
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HABIBI come to Sri Lanka


Indian celebrities join calls to boycott Maldives’ tourism over anti-India barbs

Indian tourists were the highest among visitors to the Maldives till December 2023, data from the country’s tourism ministry showed. According to the Maldives tourism ministry, a total of 17, 57,939 tourists arrived in the island nation till December 13, an increase of 12.6 per cent compared to the 1.5 million arrivals recorded in 2022.

The largest number of tourists who visited the Maldives were from India (2,09,198), followed by Russia (2,09,146) and China (1,87,118).

25,619 tourists arrive in #SriLanka during the first 4 days of January 2024 -SLTDA data

The Government of Sri Lanka is planning to lift the restriction on importation of motor vehicles shortly which was barred since 2020-23 during Covid 19 Pandemic followed by the economic crisis as a result of the foreign exchange shortage.

Investment Advise to Car Owners
Sri Lankan Rupee (LKR) has depreciated against the Japanese (JPY), India (INR) and Europe (EURO) during last 3 years representing the currencies of the largest exporters of used/new Motor vehicles to Sri Lanka.

- Sell your Japanese Cars (Toyota, Honda etc..) instead of selling the Indian Cars before import restriction is lifted
- Hold on to your European Cars (Mercedez, BMW etc,,) before selling Indian Cars (Maruti, Tata, Nano etc..)
- European cars can be sold for higher profits margin and Return on Investment (ROI) in future.

Analysis of Future Car Prices based on Exchange Rate comparison:

"The government is to lift restrictions of vehicle imports partially allowing the motor traders to bring down small cars with engine capacity of 1000 CC and 1300 CC. This decision will be taken in accordance with a comprehensive policy and guidelines in vehicle imports soon, a senior Finance Ministry official said.

Cost of Japanese Vehicles


Import cost of Japanese Vehicles likely to go up by more than 39% than previous imported cost due to appreciation of JPY/LKR from 1.60 to 2.23 within last 3 years. This is in addition to any changes in Custom Duty and other levies

Cost of Indian Vehicles


Import cost of Indian Vehicles are likely to go up by more than 58% than previous imported cost due to appreciation of INR from LKR 2.50 to 3.88 within last 3 years. This is in addition to any changes in Custom Duty and other levies. #SriLanka

Cost of European Vehicles


Import cost of European Vehicles are likely to go up by more than 77% than previous imported cost due to appreciation of EURO from LKR 199 to 353 within last 3 years. This is in addition to any changes in Custom Duty and other levies.

#SriLanka has welcomed 210,352 foreign visitors in December 2023. The highest since Jan 2020 -SLTDA

#SriLanka: Economy is yet to face serious crisis.
- manipulated inflation Rate
- Half Baked DDR
- Contracting GDP Growth
- Unstable Exchange Rate
- falling Corporate Earnings
- Overhyped stock market
- Pending presidential elections
Look below: Argentina Example.

In the coming months, Sri Lanka's path will be shaped, possibly following the examples of Lebanon , Zimbabwe , or Argentina .

:The most likely scenario resembles Argentina's situation, where the IMF might offer temporary relief. However, without a comprehensive long-term strategy, Sri Lanka risks facing a far greater crisis in the next 10-15 years.

:A well-thought-out, long-term strategy is vital for Sri Lanka's future economic stability.

https://twitter.com/Numberslka/status/1686653074272653312?s=20

K.R wrote:Sri Lankan Tourist arrivals for the first 23 days of the Month of July was recorded at 104,538.
The arrivals from China and UK increased by 39% and 55%, respectively in comparison to the total June 2023 arrivals.


Top hotel chains will drive the sector
    CSE : KHL AHUN JETS KHC

Post-pandemic highest monthly tourist arrivals recorded in July

[size=16]#SriLanka[/size] witnessed 143,039 arrivals in July 2023, beating the months in 2022/23 winter season

Short Selling - A Game Changer for Investors in the CSE (Colombo Stock Exchange)

Article Link -  https://www.linkedin.com/posts/pramudithalakshanperera_srilanka-economy-macroeconomics-activity-7082698143636619265-7_jO?utm_source=share&utm_medium=member_desktop

I am excited to present to you an analytical article that delves into the upcoming introduction of short selling in the Sri Lankan capital market.
In this comprehensive piece, I explore the concept of short selling and analyze its potential implications for Sri Lankan investors. The objective of this article is to provide valuable insights and information that will assist investors in navigating this new and exciting development.

Short selling, a well-established strategy in many other countries, is about to make its new entry into the Colombo stock market. This introduction holds significant importance for our local market, as it opens up new avenues and opportunities for investors. By engaging in short selling, investors can capitalize on market downturns and potentially profit from falling stock prices.

In this article, I aim to shed light on the mechanics of short selling and its potential benefits and risks. I discuss how short selling can contribute to market efficiency, improve price discovery, and enhance overall liquidity. Additionally, I address the concerns and potential drawbacks associated with short selling, emphasizing the importance of implementing robust regulations and risk management practices to safeguard investor interests.

Furthermore, I provide an overview of the regulatory framework that will govern short selling in the Sri Lankan capital market. Understanding these regulations is crucial for investors to navigate the intricacies of this new trading strategy successfully. I highlight the key provisions, disclosure requirements, and monitoring mechanisms put in place to ensure a fair and transparent marketplace.

If you are interested in gaining an understanding of short selling and its implications in our local market, this article is a valuable resource worth reading.

#srilanka #economy #macroeconomics #shortselling #capitalmarket #investmentstrategy #riskmanagement #financialanalytics #financialanalysis #cse #colombostockexchange ##investing #invest #sec #securitiesandexchangecommission #crisis #regulatedshortselling #rss #opportunities #development #trading #stockmarket #strategy

#SriLanka attracts 61,183 tourists in the 1st 20-days of June 2023, indicating an increasing trend in the off-season month

The daily average arrivals has increased to 3,059 in the 20-days of June, compared to 2,775 in the 1st 8-days of June & 2,687 in May

K.R wrote:#SriLanka gets 80,350 tourists in the first 23 days of April, pushing YTD figure to 416,029




CSE : Hotel chains will be benefited more than any single hotel, since they are in to tour operator business as well .

Top Picks -: KHL , EDEN , AHUN , JETS

Spot on @K.R  Top Picks -: KHL , EDEN , AHUN , JETS 

• Cinnamon Hotels and Resorts, Walker’s Tours, Aitken Spence Hotels, Aitken Spence Travels, Jetwing Hotels, and Jetwing Travels join forces with SLTPB and SriLankan 
  
  

[size=33]Fresh tourism promo campaign launched by leading industry players to attract Indian market [/size]
https://www.dailymirror.lk/business/Fresh-tourism-promo-campaign-launched-by-leading-industry-players-to-attract-Indian-market/215-259472

Banking sector crisis is imminent

Domestic Debt Restructuring will go ahead; President is honest to notify the investors that Intended Domestic Debt Restructuring (DDR) might result in the closure of the stock market in the event of banking crisis.  #Srilanka @CBSL
Details: bit.ly/3n96j95

#SriLanka gets 80,350 tourists in the first 23 days of April, pushing YTD figure to 416,029




CSE : Hotel chains will be benefited more than any single hotel, since they are in to tour operator business as well .

Top Picks -: KHL , EDEN , AHUN , JETS

Sri Lanka Banking Sector highly vulnerable. Page 78. IMF Report #Srilanka @CBSL
Download Report: https://www.imf.org/-/media/Files/Publications/CR/2023/English/1LKAEA2023001.ashx




1. The financial system is dominated by banks. Total assets of financial institutions amounted to 141 percent of GDP by the end of 2021. 32 commercial and specialized banks constitute 70 percent of total system assets. Four banks are designated by the CBSL as domestically systemically important. The nonbank financial institutions (NBFIs) consist mainly of deposit-taking Licensed Finance Companies (LFCs), pension funds, and insurance companies (see table below).

2. The state plays a key role in the financial sector. The two largest commercial banks are state-owned, accounting for over one third of total banking assets. Most specialized banks are fully or significantly government-owned, and the retirement fund sector is dominated by the government-owned Employees’ Provident Fund (EPF) and Employees’ Trust Fund (ETF), which manage over 90 percent of total retirement fund assets. The government also has indirect ownership stakes in several private banks through the state-owned banks and Employee’s Provident Fund.

3. The sovereign-bank nexus is very strong and impairment charges against public sector exposures remain lower than market valuations would imply. Public sector credit exposure accounts for more than 40 percent of banks’ assets, and higher at state-owned banks. More than two thirds of this exposure is in domestic currency, and around half in the form of Treasury bonds. Exposures in foreign currency include holdings of Sri Lanka’s International Sovereign Bonds (ISBs) and Sri Lanka Development Bonds (SLDBs), and state-owned bank loans to SOEs and the government. While banks have made substantial provisions against their holdings of ISBs in 2022, these still imply lower losses than market valuations of these bonds, which currently trade at prices below 40 percent of par. Banks therefore remain vulnerable to losses arising from debt restructuring. In addition, most local currency government bonds are now accounted for on an amortized cost basis and are booked at well above their current market value, as 10-year T-bond yields have risen to around 28 percent from 12 percent at end-2021.

4. NBFIs are heavily exposed to sovereign risk through their investments in government bonds. Pension funds are one of the largest holders of local currency government debt. The EPF holds around 29 percent of total domestic local currency government debt, with 94 percent of its investments in government debt. Similarly, the ETF invested 80 percent of its portfolio in government debt by 2021. In addition, insurance companies are also highly exposed to government debt. Exposures of insurance companies to government debt accounted for 431⁄2 percent of their assets.

5. Banks could face significant capital and FX shortfalls as a result of a sovereign debt restructuring. A sovereign debt restructuring will crystalize both sovereign credit risk and FX risk facing the banks. Banks’ exposure to the public sector as of end-September 2022 amounts to 33 percent of projected 2022 GDP, more than 5 times their total capital of 61⁄2 percent of GDP. Staff’s analysis indicates that, the illustrative restructuring scenario considered in the public debt sustainability analysis (Annex II), combined with a severe asset quality shock consistent with the economic downturn, could result in capital shortfalls for some banks. Private sector capital may be difficult to secure until the economy has stabilized, especially for the state-owned banks. The authorities have therefore committed in the MEFP to a plan for potential bank recapitalization and the DSA includes a contingent liability to reflect this.

6. Moreover, banks’ net open foreign exchange position would deteriorate significantly as a result of a sovereign debt restructuring. The depreciation of the rupee has increased the share of FX assets from 16 percent at end-2021 to 25 percent of banks’ assets. Restructuring of public FX debt, or repayment in rupees could cause banks’ FX liabilities to significantly exceed their FX assets. These FX short positions could lead to more losses if the rupee depreciates further, if banks are unable to secure sufficient FX inflows. Thus, banks and the authorities will also require a plan to close the net open FX position in the banking sector.

Download Report: https://www.imf.org/-/media/Files/Publications/CR/2023/English/1LKAEA2023001.ashx

Lack of foreign investments and economic uncertainty resulting from IMF reforms has depressed the investor sentiments in the Colombo Stock market. SOE privatisation would be the key turning point for the next phase of growth for the stock market. #Srilanka

Sri Lanka stock market has witnessed a downward trend and exceptionally low turnovers ever since the relief package was approved by the board of IMF on 20th March 2023.

According to the latest announcement, privatisation of SOE's will likely to take minimum 8 months whereas some economic analysts predicts that the worst of IMF reforms is yet to affect the stock market and the overall economy of Sri Lanka.

ErangaDS wrote:#SriLanka's Cabinet has given 'approval in principle' for the divestment of the stakes held by the Treasury in Sri Lanka Telecom & The Lanka Hospitals Corp

Divestments will be done by the Enterprise Restructuring unit of the Ministry of Finance subject to due process.

Phase 01.  SLT  LHCL  SLIC  Sri Lankan  
Phase 02. _________ ? (People’s Group , Hotels)

Phase 01

Cabinet approval to sell shares of 7 state owned enterprises

Ministry of Finance says the cabinet has approved the divestment of shares of 7 state owned enterprises.

Sri Lankan Airlines Ltd including Sri Lankan Catering Ltd
Sri Lanka Telecom PLC
Sri Lanka Insurance Corporation Ltd
Canwill Holdings Pvt. Ltd., (Grand Hyatt Hotel)
Hotel Developers Lanka Ltd., (Hilton Hotel Colombo),
Litro Gas Lanka Ltd., including Litro Gas Terminals (Pvt) Ltd., (LPG retailing)
Lanka Hospital Corporation PLC

https://www.newswire.lk/2023/03/23/cabinet-approval-to-sell-shares-of-7-state-owned-enterprises/

ErangaDS wrote:#SriLanka's Cabinet has given 'approval in principle' for the divestment of the stakes held by the Treasury in Sri Lanka Telecom & The Lanka Hospitals Corp

Divestments will be done by the Enterprise Restructuring unit of the Ministry of Finance subject to due process.

Phase 01.  SLT  LHCL  SLIC  Sri Lankan  
Phase 02. _________ ? (People’s Group , Hotels)

SLIC & People’s Group

Sri Lanka to Raise Billions by Selling SOEs as IMF Green Lights Bailout 
In a move aimed at raising approximately $3-4 Billion, GOSL is taking steps to divest stakes in key State-Owned Enterprises (SOEs) and their subsidiaries, with the goal of strengthening the country’s foreign exchange (Forex) reserves and the value of the Sri Lankan Rupee (LKR).

https://www.newscutter.lk/sri-lanka-news/top-stories/sri-lanka-selling-soes-imf-bailout-21032023-59920/

#SriLanka's Cabinet has given 'approval in principle' for the divestment of the stakes held by the Treasury in Sri Lanka Telecom & The Lanka Hospitals Corp

Divestments will be done by the Enterprise Restructuring unit of the Ministry of Finance subject to due process.

Phase 01.  SLT  LHCL  SLIC  Sri Lankan  
Phase 02. _________ ? (People’s Group , Hotels)

BANKING SECTOR
Price Range for Banking Sector Investors based on 4x PER and 0.5x PBV #Srilanka


Download Report: www.stockplanets.com/research

Exterminators PLC, finalist @ International Responsible Business Awards (UK). අවසන් තරඟකරු @ ජාත්‍යන්තර වගකීම් සහිත ව්‍යාපාරික සම්මාන (UK)

Reuters Events Responsible Business Awards are the world’s leading Awards celebrating leadership in sustainable business. It’s more than acknowledging excellent sustainability strategies. The Responsible Business Awards recognise those that are truly having an impact on business, society and the environment – delivering a new blueprint for business in the 21st Century.

Reuters Events Responsible Business Awards යනු තිරසාර ව්‍යාපාරයේ නායකත්වය සමරන ලොව ප්‍රමුඛතම සම්මාන වේ. එය විශිෂ්ට තිරසාර උපාය මාර්ග පිළිගැනීමට වඩා වැඩි ය. වගකීම් සහිත ව්‍යාපාරික සම්මාන මගින් ව්‍යාපාර, සමාජය සහ පරිසරය කෙරෙහි සැබවින්ම බලපෑමක් ඇති කරන ඒවා හඳුනා ගනී - 21 වන සියවසේ ව්‍යාපාර සඳහා නව සැලැස්මක් ලබා දෙයි.

For the past 13 years our Awards have served as the benchmark for businesses from across the globe that are looking to showcase real leadership against their international peers. In 2022, we’ll be returning to recognising sustainability leaders during a prestigious in person Awards gala in London.

පසුගිය වසර 13 තුළ Reuters (UK) සම්මාන සැබෑ නායකත්වය ප්‍රදර්ශනය කිරීමට අපේක්ෂා කරන ලොව පුරා ව්‍යාපාර සඳහා මිණුම් ලකුණ ලෙස සේවය කර ඇත. 2022 දී, අපි ලන්ඩනයේ කීර්තිමත් සම්මාන උළෙලකදී තිරසාර සමාගම් හඳුනා ගන්නෙමු.

#exterminators #exterminatorsplc #reutersevents #CSE #stockmarket #sustainability #responsiblebusiness #leadership #london #uk #colombo #srilanka

https://m.facebook.com/story.php?story_fbid=pfbid0232xfSNhQ5jagZACaubuuWAqekatV774vohc9uWWbE9Gpy7qd7YEfks69qdJn1xk9l&id=123959487696859



It’s the time

BASL Proposal is load of bull shit!!  It does not address critical issue of how to resolve the country's economic crisis. Its political objective is for a regime change! driven by NGO's. This is not what common people need in this hour of crisis. All they need is Gas, Petrol and electricity!!

Bar Association of Sri Lanka should not be a political movement like JVP.
Its time to get the facts straight.

#SriLankaEconomicCrisis #srilanka #BASL