*ACS Capital Research* *News Alert 07.02.2025* *President holds talks with visiting IMF officials* A comprehensive discussion regarding the progress of the Extended Fund Facility (EFF) agreed with the International Monetary Fund (IMF) took place yesterday between President Anura Kumara Dissanayake and a visiting delegation from the multilateral lending agency. Source:https://www.ft.lk/front-page/President-holds-talks-with-visiting-IMF-officials/44-772747 *Hemas delivers strong performance in earnings growth in 3Q* Hemas Holdings PLC yesterday reported consolidated earnings of Rs. 3 billion in the 3Q of FY25 reflecting a 36.3% year-on-year increase whilst turnover growth of 6.4% to Rs. 33.2 billion and operating profit increase of 25.7% to Rs. 4.9 billion was achieved. Source:https://www.ft.lk/business/Hemas-delivers-strong-performance-in-earnings-growth-in-3Q/34-772754 *Singer December performance reflects strengthening discretionary spending by consumers* Singer (Sri Lanka) PLC saw rising sales across a broader segment of its business in the December 2024 quarter which is dominated by consumer durables with the exception of information technology products, broadly reflecting that spending on consumer durables is gaining some momentum. Source:https://www.dailymirror.lk/business-news/Singer-December-performance-reflects-strengthening-discretionary-spending-by-consumers/273-301854 *Fitch upgrades ratings of 4 Sri Lankan insurers, affirms ratings of 3* Fitch Ratings has upgraded the National Insurer Financial Strength (IFS) Ratings of 4 Sri Lankan insurers and affirmed that of three, following the recent sovereign upgrade and recalibration of the agency’s Sri Lankan national rating scale. Source:https://economynext.com/fitch-upgrades-ratings-of-4-sri-lankan-insurers-affirms-ratings-of-3-203849/ *Coconut industry unites to reach $ 2 b export target under EU-backed 10-year strategic plan* The European Union (EU), through the UNIDO-implemented BESPA-FOOD project, is supporting Sri Lanka’s coconut industry in implementing a comprehensive 10-year strategic plan and a roadmap aimed at transforming the sector into a $ 2 billion export powerhouse. Source:https://www.ft.lk/top-story/Coconut-industry-unites-to-reach-2-b-export-target-under-EU-backed-10-year-strategic-plan/26-772740 *Indigo to fly twice daily between Jaffna-Chennai* Indian low-cost airline Indigo is expected to operate two daily flights between Jaffna International Airport in Palaly and Chennai, by the end of March, Civil Aviation Authority of Sri Lanka Deputy Director General Rayhan Wanniappa told The Daily Morning Business. Source:https://www.themorning.lk/articles/Os7iDs8CwlHhtDg9K3Fp