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In October 2000, the company became the first Sri Lankan furniture manufacturer to exploit the opportunity of setting up its first overseas store in India's Chennai mainly due to the Indo-Lanka Free Trade Agreement. [6] [7] Damro also cashed in the opportunity of tariff concessions due to the India-Sri Lanka Free Trade Agreement. It is also ...
Singer (Sri Lanka) PLC is a Sri Lankan holding company engaged in retailing and wholesale marketing home appliances and furniture. [2] The company is also taking part in financial services and manufacturing businesses. [ 3 ]
Location of Sri Lanka. Sri Lanka is an island country located southeast of the Republic of India and northeast of the Maldives.According to the International Monetary Fund, Sri Lanka's GDP in terms of purchasing power parity is second only to the Maldives in the South Asian region in terms of per capita income.
The company also has joint manufacturing ventures in Bangladesh (Nilkamal Padma Plastics) and Sri Lanka (Nilkamal Eswaran Plastics). In 2011, the company also began production of mattresses with manufacturing units in Hosur and Dankuni. [7] [8] [9] [10]
Rank Name Financial statistics in millions LKR Industry Revenue Profit Assets Market Cap. 1 Hayleys PLC: 241,276 14,046 279,383 45,600 Conglomerate
The firm became the dominant furniture maker in the country. By the turn of the century, the firm was exporting to Australia, South Africa, India, Burma, the UK, Europe & the USA. Don Carolis received gold and silver medals for furniture exhibited at the Ceylon Agricultural Exhibitions, the Indian Industrial Exhibition of 1901, the Paris ...
The company was listed on the Colombo Stock Exchange in 2003. A fraud incident which was dubbed the biggest in a listed company in Sri Lanka rocked the company in 2011. The company adopted its current name, Hayleys Fabric in 2015. Hayleys Fabric acquired South Asia Textiles Ltd for LKR3.9 billion from Ambeon Holdings in 2021.
The Sri Lanka People's Freedom Alliance (SLPFA), led by Mahinda Rajapaksa, won a large majority in the 2020 Sri Lankan parliamentary election on 5 August 2020. [14] During their tenure, the government under President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa faced multiple crises, including the COVID-19 pandemic and an economic crisis, which culminated into widespread protests ...