Asia Archives

Sri Lanka’s Projection – By Dr Harold Gunatillake Transcript: *Asia’s ticking debt bomb: Sri Lanka crisis sounds alarm bells across the region- headlines Nikkei Asia. *Basilur Tea opens an exclusive outlet at Bandaranaike International Airport. Fuel queues-where are they? Trishaw drivers push their vehicles as they move up in line to buy fuel in Colombo, Sri Lanka, in July. Such queues at the petrol stations have disappeared after the QR code system for obtaining fuel was introduced. After introducing the QR code, fuel usage has dropped, and the Bowser owners who do not get hired to transport fuel stand at a loss of revenue. “As reported by the Central Bank (CB), US$600 million had been spent on importing fuel monthly, and it had come down to US$230 million. It is a commendable decision taken by the government to uplift the economy. Basilur Tea opens an exclusive outlet at Bandaranaike International ...

Expolanka upholds stable growth; records Rs 57.8 Bn Revenue and Rs 4.5 Bn PAT during Q3 An agile business model was the cornerstone to Expolanka Holdings PLC sustaining its strong growth momentum during the latest quarter which ended 31 December 2020. The company attributed its performance to staying on the path of a focused and consistent growth strategy while remaining flexible and optimizing opportunities in a dynamic operating environment. The quarter’s performance has resulted in the group generating a Revenue of Rs 143.2 Bn and a Profit After Tax of Rs 10.8 Bn for the first nine months ending 31 December 2020. During the quarter under review, the group recorded a revenue of Rs 57.8 Bn (a 108% increase YoY) with a Gross Profit of Rs 9.7 Bn and a Profit After Tax of Rs 4.5 Bn. The quarter’s growth was driven by the core Logistics business, which recorded a ...