*Softlogic Stockbrokers* *News Alert –05th February 2025* *Govt. to fast-track integration of key agencies into national trade system* • Aims to integrate 9 out of 34 key State agencies into the national trade system in 1H • The Finance and Planning Deputy Minister says the long-term goal is to establish a seamless digital trade facilitation system https://www.ft.lk/front-page/Govt-to-fast-track-integration-of-key-agencies-into-national-trade-system/44-772644 *United Petroleum commences employee layoffs as it prepares to exit SL* • Informs employees of layoffs, citing “unforeseen circumstances beyond control” • CEO Niger Simonsz announces employee terminations due to “restructuring efforts”; asks workers to return company assets • Employees express unrest over abrupt layoffs, consulting legal experts to challenge breaches of labour laws • Sources reveal the company is negotiating with Govt., though complete withdrawal appears inevitable https://www.ft.lk/front-page/United-Petroleum-commences-employee-layoffs-as-it-prepares-to-exit-SL/44-772643 *Sri Lanka incredibly popular for Canadian travellers in February* • Canadians are looking to travel to South Asia in February, with Sri Lanka’s capital Colombo being particularly popular • There has been a 59% increase in February flight bookings from Canada to Colombo over the last month https://www.ft.lk/front-page/Sri-Lanka-incredibly-popular-for-Canadian-travellers-in-February/44-772641 *Bank deposits surge to Rs. 12.3 t in 2024* • Growth was driven by the rise in private sector credit and low-interest rate environment • Time and savings deposits account for 92% of total rupee deposits. https://www.themorning.lk/articles/MjVHJ1Y70I7bna0iTr9A *SL-UAE to finalise investment agreement* An agreement on Reciprocal Promotion and Protection of Investments between Sri Lanka and the United Arab Emirates (UAE) is to be finalized in the near future. https://www.themorning.lk/articles/GNQMwjIfnhBFrbHW5KoU *OPEC+ won’t change oil production plans* Despite pressure from President Trump and a recent rise in oil prices, the OPEC+ group has said it won’t change its current plan to begin gradually unwinding the cuts from April. At the previous ministerial gathering in December, the alliance decided to delay the start of the easing of the 2.2 million bpd cuts to April 2025, from January 2025. The group also extended the period in which it would unwind all these cuts into the following year, until September 2026. https://www.themorning.lk/articles/vmSJAvPAW7VBA8eVWfZ3 *JKH records EBITDA of Rs. 14.28 bn in Q3* Top blue chip JKH announced it has achieved Group EBITDA of Rs. 14.28 bn in the third quarter of the financial year 2024/25, reflecting a 4% YoY increase. Excluding fair value gains on investment property and the previous year’s deferred tax credit at SAGT, EBITDA for Q3 2024/25 increased by 10% to Rs. 14.89 billion, up from Rs. 13.58 billion in Q3 2023/24. https://www.themorning.lk/articles/mu89zMDriPrCZW2acAqv _Softlogic Research_