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Hayleys Fibre approves Rs420mn property sale to Alumex

2016-07-28 lankabusinessonline
July 28, 2016 (LBO) – Shareholders of Sri Lanka’s Hayleys Fibre have unanimously approved a disposal of 420 million rupees worth freehold property located at Ja-Ela to listed Alumex through a related party transaction.

Sri Lanka mulls meeting country’s fabric need

​In a step towards import substitution, Sri Lanka is now looking at the possibility of producing the country’s total fabric requirement domestically doing away with the imports which drains much needed foreign currency from the country.