The Investor Sentiment - Equity and investments forum for Sri Lankans
Search
 
 

Display results as :
 


Rechercher Advanced Search

Latest topics
» Dividend Announcement
Today at 4:03 pm by nihal123

» Happy Birthday
Today at 12:27 pm by smallville

» SAMP.N0000 (SAMPATH BANK PLC)
Sat Feb 16, 2019 6:45 am by ruwan326

» දේවදත්තගෙන් අපායේ සිට මෛත්‍රී බුදුන් වහන්සේට එවන ලද ලිපිය...~~~
Fri Feb 15, 2019 8:24 am by ruwan326

» MTD WALKERS - KAPI
Fri Feb 15, 2019 7:41 am by ruwan326

» REXP.N0000 ( RICHARD PIERIS EXPORTS PLC)
Fri Feb 15, 2019 4:57 am by serene

» Thread for News on CSE and SL Economy
Wed Feb 13, 2019 8:46 pm by ruwan326

» CONN.N0000
Wed Feb 13, 2019 8:09 pm by ruwan326

» SERV - The Kingsbury
Wed Feb 13, 2019 8:08 pm by ruwan326

» TPL.N0000 (TALAWAKALE PLANTATIONS )
Wed Feb 13, 2019 7:53 pm by ruwan326

» KVAL.N0000
Wed Feb 13, 2019 7:36 pm by ruwan326

» MGT.N0000
Wed Feb 13, 2019 7:29 pm by ruwan326

» HAYC - Haycarb
Wed Feb 13, 2019 7:24 pm by ruwan326

» DIPD.N0000 (Dipped Products)
Wed Feb 13, 2019 7:22 pm by ruwan326

» HAYL.N0000 Hayleys PLC
Wed Feb 13, 2019 7:16 pm by ruwan326

» අනං මනං! #/+?.<>
Wed Feb 13, 2019 7:55 am by කිත්සිරි ද සිල්වා

» මහජනතාව බල ගැන්වෙම්න් සිටී…
Tue Feb 12, 2019 8:23 pm by ruwan326

» VFIN - where the journey leads it?
Mon Feb 11, 2019 7:35 pm by ruwan326

» PLC.N0000 ( People's Leasing and Fiance PLC)
Mon Feb 11, 2019 7:31 pm by ruwan326

» LFIN - LB Finance
Mon Feb 11, 2019 7:25 pm by ruwan326

» Sri Lanka urged to develop own narrative of China’s BRI
Mon Feb 11, 2019 2:50 pm by Backstage

» Wonder why men send photos of their genitals? Here are some theories
Mon Feb 11, 2019 11:01 am by Backstage

» Flying is the Safest mode of Transport
Sat Feb 09, 2019 8:12 am by කිත්සිරි ද සිල්වා

» LLUB.N0000 (CHEVRON LUBRICANTS LANKA PLC)
Thu Feb 07, 2019 2:24 pm by Ethical Trader

» Lanka named top tourist destination for 2016
Wed Feb 06, 2019 2:29 pm by කිත්සිරි ද සිල්වා

» A Bit of History
Wed Feb 06, 2019 2:18 pm by ruwan326

» AMF.N0000
Thu Jan 31, 2019 6:56 am by serene

» IOC Sri Lanka unit December quarter loss widens to Rs987mn
Mon Jan 28, 2019 11:02 am by ruwan326

» මූර්ත පොළියෙන් ශ්‍රී ලංකාව අංක 1ට – බ්ලූම්බර්ග් අනාවරණය කරයි
Mon Jan 21, 2019 7:18 pm by nihal123

» Obituary Notice.
Mon Jan 21, 2019 7:14 am by කිත්සිරි ද සිල්වා

» Trading Journal
Sun Jan 20, 2019 5:53 am by serene

» LDEV - Lankem Developments
Fri Jan 18, 2019 2:11 pm by ruwan326

» විශිෂ්ඨ සිල්ලර වෙළෙන්දෙකුගේ ජීවිත කතාව
Thu Jan 17, 2019 12:15 pm by Ethical Trader

» AAIC.N0000
Wed Jan 16, 2019 9:50 pm by serene

» இனிய பொங்கல்
Tue Jan 15, 2019 9:15 pm by nihal123

» HUNA.N0000
Mon Jan 14, 2019 5:29 pm by Ethical Trader

» Blessing in Disguise!! It's high time Brothers!!
Sun Jan 13, 2019 11:35 am by serene

» Thread for News on Local and Foreign Politics
Sat Jan 12, 2019 8:26 am by ruwan326

» කෝටි 4620 ක බැඳුම්කර නීතියට පිටින් ශ‍්‍රී ලංකන්ට දීලා
Mon Jan 07, 2019 6:18 pm by Ethical Trader

» JINS.N0000 ( Janashakthi Insurance PLC)
Sun Jan 06, 2019 1:12 pm by smallville

» Thread for News on International Markets
Fri Jan 04, 2019 9:40 am by The Invisible

» අවුරුද්ද අප කයි - අපි අවුරද්ද කමු (ජනවාරි පළමුවැනිදා)
Tue Jan 01, 2019 6:23 pm by malanp

» සැන්ඩි එපා!
Tue Jan 01, 2019 6:01 pm by serene

» අසිරිමත් සුබ නව වසරකට ආසිරි !
Tue Jan 01, 2019 5:08 pm by PANTOMATH

» SHL.N0000 (Softlogic Holdings PLC)
Mon Dec 31, 2018 6:04 pm by EBHRAHIMCANADA

»  වසරක කාලය තුළ ඉන්දියාවේ ඉහළම ආදායම් ලාභීන්
Mon Dec 31, 2018 2:47 am by nihal123

» අයදුමේ දී ඡායාරූප ‘ඇලවීම‘ අවශ්‍ය නැති ජාතික හැඳුනුම්පත ජනවාරි 01 සිට දිවයිනටම
Sun Dec 30, 2018 9:37 pm by lanka

» මැදපෙරදිගට පමණක්‘ පාස්පෝට් මින් ඉදිරියට නැහැ
Thu Dec 27, 2018 5:18 pm by Ethical Trader

» BFN - Orient Finance
Wed Dec 26, 2018 6:53 pm by serene

» Wishing Everyone a Happy Christmas !
Wed Dec 26, 2018 7:27 am by spw19721

February 2019
SunMonTueWedThuFriSat
     12
3456789
10111213141516
17181920212223
2425262728  

Calendar Calendar

Disclaimer


Information posted in this forum are entirely of the respective members' personal views. The views posted on this open online forum of contributors do not constitute a recommendation buy or sell. The site nor the connected parties will be responsible for the posts posted on the forum and will take best possible action to remove any unlawful or inappropriate posts.
All rights to articles of value authored by members posted on the forum belong to the respective authors. Re-using without the consent of the authors is prohibited. Due credit with links to original source should be given when quoting content from the forum.
This is an educational portal and not one that gives recommendations. Please obtain investment advises from a Registered Investment Advisor through a stock broker

Ashroff Omar sees apparel sector maintaining strong growth momentum

Go down

Ashroff Omar sees apparel sector maintaining strong growth momentum

Post by Backstage on Mon Jul 11, 2016 11:37 am

Brandix CEO Ashroff Omar sees apparel sector maintaining strong growth momentum

Saturday, 9 July 2016

Brandix CEO Ashroff Omar has affirmed that the Sri Lankan apparel sector has room to grow further, despite the country reaching middle income status.

He highlighted some the intrinsic advantages of the apparel industry as a tool for growth and provincial development, and stressed the importance of viewing Sri Lanka’s position from a South Asian regional perspective in order to compete effectively in an evolving global market. fgjdf

The South Asian region possesses the intrinsic advantages of having the largest population, largest cotton and textile base and a skilled talent pool, which could enable it to become the leading sourcing region for the world’s top apparel brands.

Omar emphasised that Sri Lanka’s productivity, skilled labour force, logistics offering and compliance with key sustainability and labour practices, positioned the country as the ideal location to become a hub for the region.

He called for an enabling policy environment and an investment climate to make this vision a reality.

Omar was speaking at the inaugural session of ‘InsideTrack,’ an exclusive, invitation-only series featuring veterans of Sri Lanka’s business, policy-making and development landscape, organised by Asia Securities, one of Sri Lanka’s leading stockbroking and research firms. This session focused on the topic ‘How will the Apparel & Textile sector evolve in the next 3-5 years?’

Omar pointed out that the EU as a region was the world’s second largest exporter of apparel, second only to China, with a share of 26.3% in 2014. As such, he contended that the view that the apparel industry could not support high-paying jobs was a myth.

Given Sri Lanka’s niche positioning as a high quality supplier, he opined that the country could position itself higher on the value chain, as an apparel hub of the South Asian region. He also showcased statistics that the growth in the apparel industry will continue, boosted by population growth and rising affluence. Accordingly, the global apparel industry, if it continues at the current pace of growth, will reach $ 834 b in 2030 from $ 483 b in 2014.

The decline of China as the leading manufacturer of apparel was also overplayed in his opinion, since China still accounted for a 39% share of global apparel exports in 2014. While growth has slowed down, China’s apparel infrastructure would still enable it to maintain a significant presence in apparel production in the foreseeable future.

The Brandix CEO further added that innovation should also be adopted in a tangible manner to develop technology-driven solutions that address challenges which would make the apparel industry leapfrog to the next level and thereby reap the full benefits.

Following his brief address Omar took questions from the audience made up of leading personalities from the investment community in Sri Lanka, including fund managers and high net worth individuals. The Q&A session brought many of the current themes surrounding the apparel sector to the fore.

Sri Lanka’s key competition still remains Asian countries such as Vietnam and China, while Bangladesh is fast upscaling its apparel production offering, aided by Sri Lankan apparel professionals. In particular, he highlighted Vietnam as an immediate threat given that it will be entering an FTA with the EU next year. As such, it will be crucial for Sri Lanka to have the GSP+ concessions by early next year to counter this threat.

According to Omar, Brexit will not have a substantial short term impact since the leading apparel and textile manufacturers denominate all their sales proceeds in USD. While the long-term impact cannot be accurately forecasted at this early juncture, he contended that an independent UK was likely to maintain broadly the same tariff structure now employed by the EU, since re-export was an economic reality in both the UK and the EU.

In terms of trade agreements, Omar expressed a preference for bilateral trade agreements rather than large-scale, multilateral trade deals such as the Trans-Pacific-Partnership (TPP), which could get derailed by the inability to meet all requirements of such multilateral agreements. He also highlighted apparel distribution channels as being the most likely exposed to disruption, along the apparel production value chain, given the inefficiency and high cost involved in them today.

The event was a follow up to the textile sector report titled ‘Close-knit with Sri Lanka’s apparel sector growth’ published by Asia Securities Research. The sector analyst for textiles, Hasantha Uswatta, presented highlights of the report and the positive outlook of Asia Securities for the textile sector, prior to Omar’s presentation. Uswatta’s presentation concluded that textiles would experience complementary growth along with the apparel industry, and that the two listed textile companies would be key beneficiaries of this growth.
Backstage
Backstage
Top contributor
Top contributor

Posts : 3330
Join date : 2014-02-24

Back to top Go down

Back to top


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