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The Investor Sentiment - Equity and investments forum for Sri Lankans

The Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSEThe Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSE

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Latest topics

» CIFC Dumps to Expand Your Possibilities to Pass Your Exam
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyToday at 10:30 am by faithhharris

» CCS.N0000 ( Ceylon Cold Stores)
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyWed Mar 20, 2024 11:31 am by Hawk Eye

» Sri Lanka plans to allow tourists from August, no mandatory quarantine
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyWed Sep 13, 2023 12:16 pm by lauryfriese

» When Will It Be Safe To Invest In The Stock Market Again?
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyWed Apr 19, 2023 6:41 am by කිත්සිරි ද සිල්වා

» Dividend Announcements
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyWed Apr 12, 2023 5:41 pm by කිත්සිරි ද සිල්වා

» MAINTENANCE NOTICE / නඩත්තු දැනුම්දීම
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyThu Apr 06, 2023 3:18 pm by කිත්සිරි ද සිල්වා

» ඩොලර් මිලියනයක මුදල් සම්මානයක් සහ “ෆීල්ඩ්ස් පදක්කම” පිළිගැනීම ප්‍රතික්ෂේප කළ ගණිතඥයා
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptySun Apr 02, 2023 7:28 am by කිත්සිරි ද සිල්වා

» SEYB.N0000 (Seylan Bank PLC)
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyThu Mar 30, 2023 9:25 am by yellow knife

» Here's what blind prophet Baba Vanga predicted for 2016 and beyond: It's not good
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyThu Mar 30, 2023 9:25 am by HaeroMaero

» The Korean Way !
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyWed Mar 29, 2023 7:09 am by කිත්සිරි ද සිල්වා

» In the Meantime Within Our Shores!
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyMon Mar 27, 2023 5:51 pm by කිත්සිරි ද සිල්වා

» What is Known as Dementia?
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyFri Mar 24, 2023 10:09 am by කිත්සිරි ද සිල්වා

» SRI LANKA TELECOM PLC (SLTL.N0000)
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyMon Mar 20, 2023 5:18 pm by කිත්සිරි ද සිල්වා

» THE LANKA HOSPITALS CORPORATION PLC (LHCL.N0000)
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyMon Mar 20, 2023 5:10 pm by කිත්සිරි ද සිල්වා

» Equinox ( වසන්ත විෂුවය ) !
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyMon Mar 20, 2023 4:28 pm by කිත්සිරි ද සිල්වා

» COMB.N0000 (Commercial Bank of Ceylon PLC)
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptySun Mar 19, 2023 4:11 pm by කිත්සිරි ද සිල්වා

» REXP.N0000 (Richard Pieris Exports PLC)
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptySun Mar 19, 2023 4:02 pm by කිත්සිරි ද සිල්වා

» RICH.N0000 (Richard Pieris and Company PLC)
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptySun Mar 19, 2023 3:53 pm by කිත්සිරි ද සිල්වා

» Do You Have Computer Vision Syndrome?
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptySat Mar 18, 2023 7:36 am by කිත්සිරි ද සිල්වා

» LAXAPANA BATTERIES PLC (LITE.N0000)
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyThu Mar 16, 2023 11:23 am by කිත්සිරි ද සිල්වා

» What a Bank Run ?
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyWed Mar 15, 2023 5:33 pm by කිත්සිරි ද සිල්වා

» 104 Technical trading experiments by HUNTER
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyWed Mar 15, 2023 4:27 pm by katesmith1304

» GLAS.N0000 (Piramal Glass Ceylon PLC)
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyWed Mar 15, 2023 7:45 am by කිත්සිරි ද සිල්වා

» Cboe Volatility Index
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyTue Mar 14, 2023 5:32 pm by කිත්සිරි ද සිල්වා

» AHPL.N0000
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptySun Mar 12, 2023 4:46 pm by කිත්සිරි ද සිල්වා

» TJL.N0000 (Tee Jey Lanka PLC.)
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptySun Mar 12, 2023 4:43 pm by කිත්සිරි ද සිල්වා

» CTBL.N0000 ( CEYLON TEA BROKERS PLC)
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptySun Mar 12, 2023 4:41 pm by කිත්සිරි ද සිල්වා

» COMMERCIAL DEVELOPMENT COMPANY PLC (COMD. N.0000))
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyFri Mar 10, 2023 4:43 pm by yellow knife

» Bitcoin and Cryptocurrency
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyFri Mar 10, 2023 1:47 pm by කිත්සිරි ද සිල්වා

» CSD.N0000 (Seylan Developments PLC)
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyFri Mar 10, 2023 10:38 am by yellow knife

» PLC.N0000 (People's Leasing and Finance PLC)
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyThu Mar 09, 2023 8:02 am by කිත්සිරි ද සිල්වා

» Bakery Products ?
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyWed Mar 08, 2023 5:30 pm by කිත්සිරි ද සිල්වා

» NTB.N0000 (Nations Trust Bank PLC)
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptySun Mar 05, 2023 7:24 am by කිත්සිරි ද සිල්වා

» Going South
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptySat Mar 04, 2023 10:47 am by කිත්සිරි ද සිල්වා

» When Seagulls Follow the Trawler
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyThu Mar 02, 2023 10:22 am by කිත්සිරි ද සිල්වා

» Re-activating
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptySat Feb 25, 2023 5:12 pm by කිත්සිරි ද සිල්වා

» අපි තමයි හොඳටම කරේ !
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyTue Feb 14, 2023 3:54 pm by ruwan326

» මේ අර් බුධය කිසිසේත්ම මා විසින් නිර්මාණය කල එකක් නොවේ
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyTue Jan 03, 2023 6:43 pm by ruwan326

» SAMP.N0000 (Sampath Bank PLC)
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyWed Nov 30, 2022 8:24 am by කිත්සිරි ද සිල්වා

» APLA.N0000 (ACL Plastics PLC)
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyFri Nov 18, 2022 7:49 am by කිත්සිරි ද සිල්වා

» AVOID FALLING INTO ALLURING WEEKEND FAMILY PACKAGES.
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyWed Nov 16, 2022 9:28 pm by කිත්සිරි ද සිල්වා

» Banks, Finance & Insurance Sector Chart
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyTue Nov 15, 2022 5:26 pm by කිත්සිරි ද සිල්වා

» VPEL.N0000 (Vallibel Power Erathna PLC)
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptySun Nov 13, 2022 12:15 pm by කිත්සිරි ද සිල්වා

» DEADLY COCKTAIL OF ISLAND MENTALITY AND PARANOID PERSONALITY DISORDER MIX.
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyMon Nov 07, 2022 6:36 pm by කිත්සිරි ද සිල්වා

» WATA - Watawala
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptySat Nov 05, 2022 8:44 am by කිත්සිරි ද සිල්වා

» KFP.N0000(Keels Food Products PLC)
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptySat Nov 05, 2022 8:42 am by කිත්සිරි ද සිල්වා

» Capital Trust Broker in difficulty?
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyFri Oct 21, 2022 5:25 pm by කිත්සිරි ද සිල්වා

» IS PIRATING INTELLECTUAL PROPERTY A BOON OR BANE?
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyThu Oct 20, 2022 10:13 am by කිත්සිරි ද සිල්වා

» What Industry Would You Choose to Focus?
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyTue Oct 11, 2022 6:39 pm by කිත්සිරි ද සිල්වා

» Should I Stick Around, or Should I Follow Others' Lead?
TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 EmptyTue Oct 11, 2022 9:07 am by කිත්සිරි ද සිල්වා

Disclaimer


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+27
PANTOMATH
dhanurrox
The Invisible
sashimaal
lanka
mymoney
Dileepa
Yin-Yang
CK
xmart
Backstage
Rana
LION
Market lover
smallville
bonbon
kass
serene
HUNTER
Ethical Trader
First Guy
slstock
Future123
nihal123
nis2008
කිත්සිරි ද සිල්වා
yellow knife
31 posters

    TJL.N0000 (Tee Jey Lanka PLC.)

    First Guy
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    Post by First Guy Tue Oct 24, 2017 9:49 pm

    when quoting a broker report, it is best to mention when it was published Smile I know you have nothing but good intentions but still...
    I think this refers to the June quarter which was reported around 3 months ago. If that's the case, it is still ok as nothing much has changed. But if it is from an older report then projections and even the DCF might have changed.
    Backstage
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    Post by Backstage Wed Oct 25, 2017 11:30 am

    Point taken FG. Will remember in future.

    Got the report yesterday, so its refering to June quater.
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    yellow knife
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    Post by yellow knife Wed Nov 01, 2017 8:07 am

    [You must be registered and logged in to see this image.]

    Column1First Half 2017First Half 2016Variance %
    Revenue11,502,27810,033,79514.64
    Gross Profit1,353,4291,608,153-15.84
    Net Profit589,787989,105-40.37
    avatar
    Rana
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    TJL.N0000 (Tee Jey Lanka PLC.) - Page 5 Empty TEEJAY LANKA - DIVIDEND ANNOUNCEMENT

    Post by Rana Fri Jan 26, 2018 5:00 pm

    Date of Announcement:-26.Jan.2018
    Rate of Dividend:-Rs.0.70 per share / First Interim Dividend
    Financial Year:-2017/2018
    Shareholder Approval:-Not Required
    XD:-08.Feb.2018
    Payment:-20.Feb.2018
    Ethical Trader
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    Post by Ethical Trader Fri Jan 26, 2018 6:32 pm

    Thanks Rana.
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    Post by dhanurrox Wed Oct 31, 2018 3:35 pm

    Good report

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    PANTOMATH
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    Post by PANTOMATH Wed Oct 31, 2018 7:27 pm

    dhanurrox wrote:Good report

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    Yes as expected.
    PANTOMATH
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    Post by PANTOMATH Wed Jul 17, 2019 11:45 pm

    Outstanding share,proved again.
    CK
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    Post by CK Thu Jul 18, 2019 7:34 am

    Overvalued counter always ...
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    serene
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    Post by serene Thu Jul 18, 2019 7:36 am

    Yes Panto.
    One of my all time favourires.
    One of few companies who thinks about us.
    The Invisible
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    Post by The Invisible Thu Jul 18, 2019 8:23 am

    I think the reason for TJL holding its ground when many others falling apart is due to investor confidence on the stock and that is playing a much bigger role than the reported financial numbers.
    slstock
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    Post by slstock Thu Jul 18, 2019 11:03 am

    Have to acknowledge  what CK and Invisible said.

    I remember the hype at Rs 48 and when I said it is over valued!
    Some might have gotten upset too.
    Well atleast TJL corrected it market  value back to Rs 29/30.
    Now trading Rs 37 or something.


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    Post by serene Thu Jul 18, 2019 11:50 am

    The Invisible wrote:I think the reason for TJL holding its ground when many others falling apart is due to investor confidence on the stock and that is playing a much bigger role than the reported financial numbers.

    One is here mate. Very Happy
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    Post by serene Thu Jul 25, 2019 5:17 pm

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    No wonder why investors pay high premium for company like TJL which very ethical in their way of doing things and company which always think about its stakeholders while searching for avenues to expand their horizons.
    The Invisible
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    Post by The Invisible Fri Jul 26, 2019 5:32 am

    Teejay Sri Lanka to make lace with LFT of China

    ECONOMYNEXT- Sri Lanka's Teejay Lanka Plc, one of South Asia's largest fabric mills, is planning to diversify into lace production in a partnership with China's Luen Fung Textiles (LFT), officials said.


    "Teejay is pursuing different growth avenues with diversification of products and this will be the start of this new journey," Teejay Chairman Bill Lam said.




    Teejay's plants in India will start dyeing, finishing and scalloping of raw lace material supplied by LFT under a signed agreement.




    The finished lace will be sold to customers of both Teejay and LFT.




    Teejay, which has operations in Sri Lanka and India, specializes in weft knitted fabrics, and in recent years has ventured into lace dyeing, yarn dyeing and synthetic fabric production.




    The firm is backed by one of Sri Lanka's largest apparel exporters Brandix (33 percent stake) and Hong Kong's Pacific Textiles (28 percent stake).




    LFT, founded in 2006 in Hong Kong, China, manufactures for popular global brands.




    It manufactures, sells, conducts research and development and supplies raw materials for lace and related products. (Colombo/Jul25/2019)
    The Invisible
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    Post by The Invisible Fri Jul 26, 2019 3:43 pm

    Teejay eyes sales to new apparel plants in Africa, South Asia

    ECONOMYNEXT- Sri Lanka's Teejay Lanka Plc, one of South Asia's largest fabric mills, is eyeing sales to new apparel factories being set up in the region and Africa, a top official said.

    "The increasing trend of locating apparel manufacturing plants in South Asia and the African continent, offer a landscape of many opportunities for the Sri Lankan fabric industry," Chairman Bill Lam told shareholders in the firm's annual report.



    He said many global apparel manufacturers are relocating their apparel plants to South Asia from China, which has so far been the largest global garment producer.



    This is due to changing US tariffs on Chinese products, and rising cost of labour in China, Lam said.



    Teejay Chief Executive Shrihan Perera said that factories being relocated from China will also help lower costs for the firm.



    "A likely decline in demand for cotton in China who is also one of the two leading suppliers of cotton yarn in the global market, could help curtail prices of our key raw material," he said.



    Meanwhile, he said that there are only a few fabric mills present in Africa to compete with Teejay.



    Therefore, setting up of new apparel plants in the continent offers Teejay sales opportunities, as Sri Lanka is located on a central maritime route to Africa, he said.



    New opportunities are also opening up in India, where leading global apparel brands are seeking to capture the spending of the growing middle class, Perera said.



    He said that since Teejay already has manufacturing facilities in India, the firm can offer competitive costs and delivery times.



    However, the operations in Sri Lanka face high energy costs and infrastructure limitations, slowing expansion, Perera said.




    "We are also constrained by the limitations to infrastructure at the BOI Zone," he said.



    "Thus, it is our fervent hope that these limitations will be addressed with improvements and additions to the existing infrastructure in the near future."



    Teejay, which specializes in making knit fabric recently has ventured into lace production at its Indian plant as well, in the firm's attempt to diversify income.



    In the last financial year, the firm had added two global brands, Nike and Uniqlo to its portfolio, which also includes big brands such as L Brands, PVH, Marks & Spencers and Decathlon. (Colombo/Jul26/2019)
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    Post by The Invisible Wed Jul 31, 2019 10:00 pm

    Superb result by Teejay for June quarter

    Revenue up 19 YoY while GP up by 35% & PAT up by 62% to 454mn.

    GP margin improved from 10% 12%

    Chairman's statement says the reasons for the same

    "Gross Profit recorded a 35.5% growth which is significantly higher than the 19.2% growth in Top Line. This resulted in a Gross Margin improvement by 1.4% basis points to 11.9% vs prior year corresponding period (10.5%). The Growth in Gross Profits were mainly due to the improved product mix, which was facilitated by a strong order book, curbing of non-strategic costs, and process improvements that improved efficiency which were realized during the commencement of our Journey of Operational Excellence. However, the challenges faced in increases of raw materials are prevalent as utilities and dyes & chemical cost are continuing to increase stemming from world market prices. Cotton has stabilized during the quarter, however the demand for cotton is on the rise and may impact adversely in the future "

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    Post by serene Thu Aug 01, 2019 7:41 am

    One share you feel happy in holding most of the times.
    කිත්සිරි ද සිල්වා
    කිත්සිරි ද සිල්වා
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    Post by කිත්සිරි ද සිල්වා Thu Aug 01, 2019 7:48 am

    Yes, I had this when it was below 20 and got rid of it for some foolish reasoning.
    When I re-entered, it was much higher.
    Same with REXP.
    When I bought initially, it was 72 and when it reached 144, I sold them.
    Reentred but much higher then. Shocked
    serene wrote:One share you feel happy in holding most of the times.


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    Post by serene Thu Aug 01, 2019 7:51 am

    කිත්සිරි ද සිල්වා wrote:Yes, I had this when it was below 20 and got rid of it for some foolish reasoning.
    When I re-entered, it was much higher.
    Same with REXP.
    When I bought initially, it was 72 and when it reached 144, I sold them.
    Reentred but much higher then. Shocked
    serene wrote:One share you feel happy in holding most of the times.
    Thats why I determine not SAMP to let go below 140 this time.
    Same experience here with regard to REXP.
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    Post by The Invisible Tue Sep 03, 2019 12:15 pm

    Teejay Lanka to up revenues to US$300mn with productivity driven capacity boost



    ECONOMYNEXT – Teejay Lanka Plc, a apparel maker which has operations in Sri Lanka and India is planning to grow revenues 50 percent in the next three years, riding a shift of production from China, and output growth based on productivity gains, an official said.

    South Asian Shift

    “What we are seeing is a movement of orders out of China and the South Asian subcontinent is a key beneficiary gaining from this trend,” Teejay Lanka Director Hasitha Premaratne said.

    “Teejay being a fabric player out of the both India and Sri Lanka has been benefiting from this trend.”

    In the year to March 2019, Teejay Lanka group revenues grew to 31 billion rupees from 24 billion rupees in 2018, ( 191 million US dollars from 162 million dollars in 2018.)

    In the next two to three years, the firm is planning to grow to 300 million US dollars.

    In Sri Lanka most export firms call for currency deprecation to gain a price advantage by cutting real wages of factory workers. However, Teejay will boost productivity.
    The firm plans to boost output 40 percent in Sri Lanka.

    Productivity based growth

    Instead of building new factories, which will also push up fixed costs, Teejay will maximize the use of remaining space in India and Sri Lanka, and replace older machinery with new ones with higher capacity.

    The firm will also move to higher value products.

    “We will go up the value chain with more sophisticated and innovative products,” Premaratne says.

    In July Teejay tied up with LFT in China to produce lace.

    Teejay profits grew 62 percent to 453 million rupees in the June 2019 quarter from a year earlier, as revenues grew 19 percent to 8.1 billion rupees, helped by strong orders and also some currency depreciation.

    Earnings grew to 65 cents a share from 40 cents for the quarter.

    Volatile cotton prices remain a risk for the firm.

    Teejay cannot fully pass on cotton prices when prices go up, but it also tries to recoup margins by delaying price cut when cotton prices ease.

    Market Penetration

    Teejay Lanka’s top customers are Western brands, who have production units mainly in Sri Lanka and India.

    Among top brands using Teejay fabric are Marks and Spencer Victoria’s Secret, Intimissimi and Decathlon.

    Some of the production that is going out of China is moving to Bangladesh, which is becoming the second largest apparel hub in the world.

    Teejay is already making shipments to apparel plants in Bangladesh.


    Africa is another emerging opportunity, which is growing fast from a low base. Last year only about 2 percent of revenues came from the continent. This year it will double.

    Many Western brands sell in Asia but their main focus are western markets. To get into Asia, Teejay has been roping in Asian brands like UNIQLO.

    “Asia is growing fast and we want to share a part of Asia’s growth,” Premaratne said.(Colombo/Sep02/2019)
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    Post by Ethical Trader Tue Sep 03, 2019 6:12 pm

    Thanks.
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    Post by nuwanmja Tue Mar 03, 2020 12:23 pm

    ECONOMYNEXT – Apparel exporters in Sri Lanka, already battered by disruptions of raw materials from China which may trigger factory closures are seeing a double blow with orders slashed by buyers as the novel Coronavirus spreads in Europe spooking retailers and consumers, an industry official said.

    “The new problem now is the markets we export to has been impacted by Coronavirus; Italy has got badly hit and Germany too is starting,” Rehan Lakhany, Chairman of Sri Lanka Apparels Exporters Association told EconomyNext.

    “So what’s scary is our orders being cancelled or reduced which is going to be even worse.”

    Falling Export Orders

    The novel Coronavirus now named COVID-19 spread in Italy and a number of European countries over the last week, as China itself saw the number of new cases fall.

    Europe and the US are top buyers of Sri Lanka’s apparel.

    “Some of the manufactures are forecasting a 20-30 percent drop in orders from the next season onwards (starting in June),” Lakhany said.

    Italy is Sri Lanka’s third largest apparent export market after the US and the UK.

    Sri Lanka exported apparels worth 463 million US dollars to Italy in 2018, the latest year for which detailed data is available, while exports to the United Kingdom amounted to 737 US dollars, out of a total of 2.0 billion US dollars that went to the region.

    “We never expected the virus to spread to the European zone. That is our biggest problem, panic itself worries consumers from going in to buying clothing,” Lakhany said.

    SEE ALSO
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    “This is going to be a double impact, from one side we are getting hammered with sourcing raw materials and on the other hand, we have to face the reduction in order.

    Apparel is Sri Lanka’s top export, bringing in around 5.5 billion US dollars out of a total of 11.9 billion dollars of foreign revenues in 2019.

    Sri Lanka could lose between 200 to 500 million dollars of orders though it was difficult to make an accurate assessment at this time, he said.

    The US bought 2.2 billion US dollars of apparels in 2018, according to central bank data. The US reported six deaths on Monday.

    Italy is the worst hit country in Europe with 2,036 cases and 52 deaths.

    In Germany, the number of infected people has almost doubled over the weekend, reaching 157. Germany is Sri Lanka’s fourth largest buyer of apparels.

    France, another coronavirus hotspot in Europe, has registered some 130 people infected since late January, three of whom have died.

    The European Union had raised the risk level to “moderate to high”.

    Factory Closures

    The blow from export markets come as Sri Lanka’s apparel firms are struggling to fill existing orders with fabric and other supplies from China disrupted as cities were lockdown and workers failed to turn up after the Chinese New Year.

    Factories in China are now starting to operate, but it may be weeks before supply chains get back to normal, Lakhany said.

    “On the side of raw materials, looking at the situation there’s going to be a problem until May-June this year,” he said.

    “There are factories which are going to shut down to about two to three weeks because of non-delivery of raw materials,” he said.

    “Some are managing by finding alternative orders, but some will have to close factories for a week or two.”

    Sri Lanka apparel exports are looking at Turkey, Indonesia and Korea as an alternative market predominately to source polyester.

    However, Lakhany says that the sudden surge in demand in substitute markets will jack-up the prices pushing up costs for manufacturers.

    Some factories may extend Sinhala-Tamil New Year holidays in Apri if market disruptions continue, he said.

    “Some factories are going to prolong Sinhala-Tamil New Year holidays factory closures too until the fabric and raw materials arrive for them to start production.”
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    Post by Danidu Wed Mar 04, 2020 9:20 pm

    Sri Lanka’s merchandise exports down 7-pct in January 2020, services up: EDB
    ECONOMYNEXT – Sri Lanka’s merchandise exports fell 7.4 percent from a year ago to 961.2 million US dollars in January 2020, though services were estimated to have gone up, the island’s export promotion agency said. Apparel exports fell 0.5 percent to 472 million US dollars, tea fell 9.9 percent to 99.7 million US dollars, rubber based products 12.6 percent to 72.8 million US dollars but coconut based products grew 1.4 percent to 49 million US dollars, Sri Lanka’s Export Development Board said. Services exports were projected to have grown 25.9 percent to 437 million US dollars provisionally with final data not yet available, the Export Development Board said. Sri Lanka main export destinations were the United States of America (US$ 268 Mn) the United Kingdom (US$ 85Mn), India (US$ 63 Mn), Germany (US$ 52 Mn), Italy (US$ 46 Mn), Belgium (US$ 30Mn) and The Netherlands(US$ 23Mn). Out of the top 10 export markets, Italy, China and Bangladesh had showed growth, in January 2020. The top five markets brought 53 percent of Sri Lanka’s merchandise exports, Key exports to the US were apparels (US$ 193Mn), which dropped US$10mn, pneumatic Rubber Tires & Tubes (US$ 14 Mn) and Gaskets, washers, seals of hard rubber.
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    Post by The Invisible Tue Aug 11, 2020 3:12 pm

    Sri Lanka’s Teejay expects supply chain shake-up, lower cotton prices to help

    ECONOMYNEXT – Sri Lanka’s Teejay Lanka Plc, a weft-knit fabric maker for foundation garments which shifted to mask cloth during a Coronavirus crisis says, a global shift in supply chain diversification and lower cotton prices, will moderate the effects of the crisis.

    “Looking ahead, the US-China trade tensions could have positive ramifications for garment centres such as Sri Lanka and others within the South Asian region,” Chairman Bill Lam told shareholders in the annual report.

    “Supply chain strategising to maintain the total supply chain within a country and mitigating its reliance on a single destination may become a reality in the future, with consolidation within industries also being part of the Covid 19 impact.”

    Teejay has shifted to making personal protective equipment (PPE) fabric making.

    “This strategic decision was made to ensure that in case COVID-19 lingers for longer than expected or is there is a second wave,Teejay can continue manufacturing masks,” Lam said.

    “On the other hand, if COVID-19 is brought under control soon and economic recovery in export markets is seen, Teejay can revert to business as usual, supported by its strong relationships with buyers.”

    The firm said its knit fabric for women’s undergarments and loungewear may not “fully impact” the company as they are essentials in comfort wear.

    Many end-market stores in the US and EU were closed but there was potential for new PPE customers.

    But there has been demand from supermarket customers in the US and EU while there was also demand from Asia, though margins are expected to decline.

    Falling cotton prices in recent weeks will help, he said.


    The firm in a stock exchange filing said the Central Environment Authority has made an inquired about the process followed in disposing sludge on July 16.

    “We have had discussions with the BOI and CEA and responded to the CEA accordingly,” the firm ssaid.

    “We reiterate that the matter has been resolved by Teejay Lanka Plc and that we are carrying out operation with all necessary approvals and guidelines provided for under the Environmental Protection License.”

    Teejay Lanka posted profits of 421 million rupzs for the March quarter down from 605 million rupees last year. In the year to March the group posted profits of 2.3 billion rupees, up 26 percent from 1.85 billion last year.

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