*ACS Capital Research* *News Alert 17.02.2025* *All eyes today on AKD’s maiden Budget* President and Finance Minister Anura Kumara Dissanayake will present his maiden Budget for 2025 today in Parliament, with stakeholders maintaining a mixed view given the country’s overall weak financial status, ‘wait and see’ attitude of businesses, struggles by the SMEs, and relatively slow consumer spending despite improving macroeconomic indicators. Source:https://www.ft.lk/top-story/All-eyes-today-on-AKD-s-maiden-Budget/26-773146 *BANKING SECTOR: NPLs decline to 12.3% in 2024* Sri Lanka’s banking sector non-performing loans (NPLs) reduced to 12.3% at the end of 2024, indicating a gradual easing of credit risk in the sector, the Central Bank of Sri Lanka (CBSL) said. Source:https://www.themorning.lk/articles/y2eJvyFXyPaMBN2FI2Jy *“Economic sentiment steadies”: Survey* In its February edition, business magazine LMD reports that “the optimistic outlook [for economic sentiment] prevails as confidence strengthens amid positive trends.” Source:https://www.ft.lk/front-page/Economic-sentiment-steadies-Survey/44-773144 *Tourist arrivals continue momentum in February* Tourist arrivals to Sri Lanka continue to maintain momentum, with over 115,000 visitors entering the country within the first 13 days of February. Source:https://www.dailymirror.lk/business-news/Tourist-arrivals-continue-momentum-in-February/273-302499 *Credit card spend soars in December 2024* The festive December 2024 saw credit card holders swiping their card the most last year with the outstanding card balance shooting up, bringing almost the entire growth in the card debt for 2024 in one single month. Source:https://www.dailymirror.lk/business-news/Credit-card-spend-soars-in-December-2024/273-302497 *Hayleys records Rs. 22.52 b PBT by Q3, up 53% y-o-y* The Hayleys Group maintained its strong growth momentum during the first nine months of the financial year (Q3) ending 31 March 2025, recording a 53% y-o-y (year-on-year) increase in profit-before-tax (PBT) to Rs. 22.52 billion. Source:https://www.themorning.lk/articles/XNUx7w8l25LGHcLGf9Q8 *WindForce PAT up 22% in Q3* WindForce PLC has announced a dividend of Rs. 1 per share, totaling Rs. 1.35 billion for the financial year 2024/25. Source:https://www.themorning.lk/articles/3eF6JgnuAgTatKyUIWvU