FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka


Submit PostSubmit Post
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post



Latest topics

» TRUE VALUE OF LANKA ALUMINUM INDUSTRY (LALU)
by Jana Today at 4:40 pm

» පෙබරවාරි මාසේ කොළඹ කොටස් වලට මොකක්ද වුනේ - බැසුවාද ? බැස්සාද ?
by xhunter Today at 4:19 pm

» NATIONS TRUST BANK PLC (NTB.N0000)
by chathura123 Today at 3:53 pm

» UNHCR Fear is over 21 countries speak for us only 15 against
by Vishwanarth Today at 11:14 am

» Daily Foreign Transactions
by Mithooshan Today at 7:31 am

» SOFTLOGIC HOLDINGS PLC (SHL.N0000)
by suku502 Today at 12:58 am

» DFCC will be receiving Rs.594,538,285.50
by Wonderer Yesterday at 7:49 pm

» UNHCR එකේ ලොකූ ටෝක දැම්මට සමහර ඔස්තාර් ලා කියන ආර්තික සම්භාදක අරවා මේවා මුකුත් එන්නේ නැ
by Vishwanarth Yesterday at 6:27 pm

» BROWNS INVESTMENTS PLC (BIL.N0000)
by samaritan Yesterday at 9:45 am

» GLAS will be winner with Super Gain.
by Eranga87 Yesterday at 2:00 am

» If you are one of those people who can sleep at night while someone else is in control of your destiny, then my advice would be to only invest in stocks
by Asoka Samarakone Thu Feb 25, 2021 9:58 pm

» Price prediction on GRAN and TAFL
by Bakkabwoi Thu Feb 25, 2021 6:22 pm

» SEMB SEMB
by stockchaser Thu Feb 25, 2021 2:57 pm

» EXPOLANKA HOLDINGS PLC (EXPO.N0000)
by Vishwanarth Thu Feb 25, 2021 2:54 pm

» Bullish sentiment returns with market regulator's assurance
by Vishwanarth Thu Feb 25, 2021 2:52 pm

» DIPD/HAYC/HAYL
by Wickyz Thu Feb 25, 2021 1:19 pm

» Chart 25.02.2021
by stockback Thu Feb 25, 2021 12:41 pm

» is it a good time to sell expo shares
by Kipling Thu Feb 25, 2021 8:39 am

» Current 2021 Februray Unit Trust/Unit Fund Per Annum percentages
by agentnrox Thu Feb 25, 2021 8:13 am

» Leading brokers causing market downturn
by Mithooshan Thu Feb 25, 2021 7:40 am

EXPERT CHRONICLE™

ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

CHRONICLE™ NEWS PRODUCTS

FINANCIAL CHRONICLE™

Views & Reviews, Analysis, Evaluations, Discussions, Gossip and Hot Tips relating to Sri Lankan companies listed on the Colombo Stock Exchange (CSE)
Contribute




DAILY CHRONICLE™

Latest news and articles published in Newspapers, Websites, Blogs and other online news sites relating to business and investments in Sri Lanka
Contribute



ECONOMIC CHRONICLE™

This is a section that provide news, views, analysis, predications relating to Political and Socio-Economic factors and how such activities affect the Stock Market and other economic activity of the Country.

Contribute




EXPERT CHRONICLE™

This is an exclusive section for Expert Articles which will help member to share knowledge through comments and responses of the members. All members are allowed to reply and make comments to these articles.

Contribute


Submit Post


CHRONICLE™ YouTube

Youtube Videos and other visual presentations relating Stock market and other investment advise submitted by members or other contributors.

Contribute


Submit Post


කොළඔ කොටස් වෙළඳපොළේ වංශකථාව
කොළඔ කොටස් වෙළඳපොළේ ලැයිස්තුගත සමාගම් කොටස් ගැන තොරතුරු¸විශ්ලේෂණ¸සාකච්ඡා¸ කටකතා¸රසකතා යන සියල්ල අපේම සිංහලෙන් කතා කළ හැකි ‘කතා මණ්ඩපය’

Contribute

Twitter Feeds
POPULAR COMPANIES
A

ABANS ELECTRICALS PLC

ACCESS ENGINEERING PLC Hot

ACL CABLES PLC

ACL PLASTICS PLC

ACME PRINTING & PACKAGING PLC

AGSTAR PLC

AITKEN SPENCE HOTEL HOLDINGS PLC

AITKEN SPENCE PLC

ANILANA HOTELS AND PROPERTIES PLC

ARPICO INSURANCE PLC

ASIA ASSET FINANCE PLC

ASIA CAPITAL PLC

B

BAIRAHA FARMS PLC

BALANGODA PLANTATIONS PLC

BIMPUTH FINANCE PLC

BLUE DIAMONDS JEWELLERY WORLDWIDE PLC

B P P L HOLDINGS PLC

BROWNS BEACH HOTELS PLC

BROWNS INVESTMENTS PLC

C

CARGO BOAT DEVELOPMENT COMPANY PLC

CENTRAL INDUSTRIES PLC

CEYLON COLD STORES PLC

CEYLON GRAIN ELEVATORS PLC Hot

CEYLON TEA BROKERS PLC

CEYLON TOBACCO COMPANY PLC

CHEVRON LUBRICANTS LANKA PLC

COLOMBO FORT LAND & BUILDING PLC

COMMERCIAL BANK OF CEYLON PLC

CITRUS LEISURE PLC Hot

COMMERCIAL CREDIT AND FINANCE PLC

D

DANKOTUWA PORCELAIN PLC

DFCC BANK PLC

DIALOG AXIATA PLC

DIALOG FINANCE PLC

DIPPED PRODUCTS PLC

DISTILLERIES COMPANY OF SRI LANKA PLC

DUNAMIS CAPITAL PLC

E

EAST WEST PROPERTIES PLC Hot

EASTERN MERCHANTS PLC

EXPOLANKA HOLDINGS PLC

E-CHANNELLING PLC

F

FIRST CAPITAL HOLDINGS PLC

G

GALADARI HOTELS (LANKA) PLC

GUARDIAN CAPITAL PARTNERS PLC

H

HATTON NATIONAL BANK PLC

HAYLEYS PLC

HAYLEYS FABRIC PLC

HAYLEYS FIBRE PLC Hot

HEMAS HOLDINGS PLC

HIKKADUWA BEACH RESORT PLC

HNB ASSURANCE PLC

HVA FOODS PLC

J

JANASHAKTHI INSURANCE COMPANY PLC

JOHN KEELLS HOLDINGS PLC Hot

JOHN KEELLS HOTELS PLC

L

LANKA ASHOK LEYLAND PLC

LANKA IOC PLC

LANKEM CEYLON PLC

LANKEM DEVELOPMENTS PLC

LAUGFS GAS PLC

LAUGFS POWER LIMITED

LOLC FINANCE PLC

LOLC HOLDINGS PLC

LUCKY LANKA MILK PROCESSING COMPANY PLC

M

MELSTACORP PLC

N

NATIONAL DEVELOPMENT BANK PLC

NATION LANKA FINANCE PLC

NESTLE LANKA PLC

O

ORIENT FINANCE PLC

OVERSEAS REALTY (CEYLON) PLC

P

PANASIAN POWER PLC

PEOPLE'S LEASING & FINANCE PLC

PIRAMAL GLASS CEYLON PLC

PRIME FINANCE PLC

R

RAIGAM WAYAMBA SALTERNS PLC

RENUKA AGRI FOODS PLC

RENUKA CAPITAL PLC

RENUKA HOLDINGS PLC

RICHARD PIERIS AND COMPANY PLC

RICHARD PIERIS EXPORTS PLC Hot

ROYAL CERAMICS PLC

S

SAMPATH BANK PLC

SEYLAN BANK PLC

SIERRA CABLES PLC

SINGHE HOSPITALS PLC Hot

SMB LEASING PLC

SOFTLOGIC HOLDINGS PLC

SOFTLOGIC LIFE INSURANCE PLC

SRI LANKA TELECOM PLC

SWISSTEK (CEYLON) PLC Hot

T

TEEJAY LANKA PLC

TESS AGRO PLC

THREE ACRE FARMS PLC

TOKYO CEMENT COMPANY (LANKA) PLC Hot

U

UNION BANK OF COLOMBO PLC

V

VALLIBEL FINANCE PLC

VALLIBEL ONE PLC Hot

VALLIBEL POWER ERATHNA PLC

W

WASKADUWA BEACH RESORT PLC


You are not connected. Please login or register

FINANCIAL CHRONICLE™ » වංශකථාව » සිංගර් ණය කරේ ණය ශ්‍රේණිය පහතට

සිංගර් ණය කරේ ණය ශ්‍රේණිය පහතට

Go down  Message [Page 1 of 1]

sirisagabo

sirisagabo
Senior Equity Analytic
Senior Equity Analytic
සිංගර් ණය කරේ ණය ශ්‍රේණිය පහතට C10018f3843934a44da6fc5208ffef5b_M
(www.randora.lk-19/05/14)- සිංගර් ශ්‍රී ලංකා හි ජ්‍යෙෂ්ඨ අනාරක්ෂිත ණයකර සඳහා වු මෙතෙක් ලබා දි තිබු 'A(lka)' ණය ශ්‍රේණිය 'A-(lka) දක්වා පහත හෙළු බව ෆීචි රේටිං ආයතනය පවසයි.

Fitch Downgrades Rating on Singer Sri Lanka's Debt to 'A-(lka)'

Fitch Ratings-Colombo/Sydney-19 May 2014: Fitch Ratings has downgraded the rating on Singer (Sri Lanka) Plc's (Singer) outstanding senior unsecured debentures to 'A-(lka) from 'A(lka)'. It has also published the company's National Long Term Rating of 'A-(lka)'. The Outlook is Stable. The rating on Singer's outstanding commercial paper has been revised to 'F2(lka)' from F1(lka). A full list of rating actions is at the end of this rating action commentary.

The downgrade of the debenture rating reflects Fitch's view that Singer's medium-term net leverage as measured by adjusted net debt/EBITDAR (excluding Singer Finance PLC's figures) is likely to remain over 4.5x due to continued pressure on profitability.

KEY RATING DRIVERS

Margin Pressure: In 2013, demand for consumer durables in Sri Lanka declined and cost of sales rose following VAT revisions that the company found difficult to pass on to consumers, who faced stressed macroeconomic conditions. As at end-2013, Singer's leverage increased to 4.7x from 3.4x at end-2012. The ratio further rose to 5.3x on an annualised basis at end-1Q14. While revenue is expected to recover, Fitch expects margin pressure to continue as the company increases selling expenses to drive sales.

Leading Consumer Durables Retailer: Singer has more than 1,000 retail points across Sri Lanka that sell a diverse range of brands and products, including in-house brands. The company was able to secure new brands, including Beko, Grundig, Sharp and Lenovo, which were added in 2013. Singer's well-known in-house Singer and Sisil brands, which are competitively priced and cater to the mass-market, provide the company with price-point diversity.

Well-Managed Consumer Loans: In-house financing plays a key role in Singer's business as it does in the operations of other retailers of consumer durables. In 2013, in-house hire purchase facilities financed approximately 45% of Singer's sales (2012: 44%). In-house financing makes products more affordable to the masses, which dovetails with mass market positioning of Singer's in-house brands. Singer continues to manage its hire purchase portfolio well, aided by average durations of less than a year and strong staff incentives for debt recovery. At end 2013, Singer managed to contain overdue accounts at 3.7% of the portfolio (2012: 2.3%), while write-offs were negligible.

Cyclical Demand and Currency Risk: Singer has managed to mitigate its foreign-currency risk stemming from imports by producing locally. It manufactures and locally procures close to 35% of products thorough related companies and local suppliers. Singer also faces volatility in the demand for non-essential consumer durables through economic cycles.

RATING SENSITIVITIES

Negative: Future developments that may, individually or collectively lead to a negative rating action include:

- A sustained increase in Singer's leverage (measured as adjusted net debt/EBITDAR excluding Singer Finance) to over 5.5x (end-2013: 4.7x)

- EBITDA margins sustained below 7% (end-2013: 8%)

- A material weakening in Singer's (company-level) liquidity profile

- A material weakening of the credit profile of Singer's 80% subsidiary, Singer Finance (BBB+(lka)/Stable), given the strong linkages between the entities

Positive: Future developments that may individually or collectively lead to a positive rating action include:

- Singer's leverage falling below 4.5x on a sustained basis

- EBITDA margins sustained above 10%

-
The full list of rating actions follows:

Singer

National Long-Term Rating published at 'A-(lka)'; Outlook Stable

National Long-Term Rating on Singer's outstanding senior unsecured redeemable debentures downgraded to 'A-(lka)' from 'A(lka)

National Short-Term Rating on Singer's outstanding commercial paper downgraded to 'F2(lka)' from 'F1(lka)

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum