Sri Lanka’s Commercial Bank net up 18-pct in June quarter
Aug 14, 2017 (LBO) – Sri Lanka’s Commercial Bank group net profit increased 17.86 percent to 3.8 billion rupees in the June quarter from a year ago, the …
Companies
Aitken Spence records 42-pct profit growth in first quarter
Blue chip conglomerate Aitken Spence PLC reported a pre-tax profit of Rs 678 mn for the first quarter, while the Group’s profit attributable to shareholders …
Sri Lanka’s Melstacorp June quarter net down 41-pct
Aug 10, 2017 (LBO) – Profits at Melstacorp, the holding company of Sri Lanka’s largest hard alcohol maker Distilleries Corporation, fell 41 percent to …
Sri Lanka’s Dialog Axiata profit edges up to Rs2.3 bln in June quarter
Aug 09, 2017 (LBO) – Profits at Sri Lanka’s Dialog Axiata group, increased by 2.6 percent to 2.3 billion rupees in the June quarter, interim accounts …
Sri Lanka spent 32-pct less on vehicle imports in 2016: CCC
July 31, 2017 (LBO) – Sri Lanka’s expenditure on motor vehicle imports declined by 32 percent to 194 billion rupees in 2016 compared with 2015 when Sri …
Fitch downgrades Lion Brewery to A+(lka); outlook negative
Fitch Ratings has downgraded Sri Lanka’s Lion Brewery (Ceylon) PLC’s National Long-Term Rating to ‘A+(lka)’ from …
Sampath Bank to raise Tier 1 capital with Rs7.6bn rights issue
July 28, 2017 (LBO) – Sri Lanka’s Sampath Bank is to raise 7.6 billion rupees by way of a rights issue, the company said in a stock exchange filing. The …
Piramal Glass Ceylon profits down 4-pct in June quarter
Piramal Glass Ceylon PLC has announced its results for the 1st Quarter of FY 2017-18 with Rs. 1,403 million of Revenue & Rs. 105 million of Profit After …
LAUGFS to set up cylinder manufacturing plant in Bangladesh
July 17, 2017 (LBO) – LAUGFS Gas Bangladesh, part of the diversified Sri Lankan multinational LAUGFS Holdings, said it is planning to set up a cylinder …
Odel plans USD106mn mixed development project in Sri Lanka
July 12, 2017 (LBO) – Odel Properties One (Private) Limited, a fully owned subsidiary of Odel, has entered into an agreement with Sri Lanka’s Board of …
HNB rights issue will boost capital, credit positive: Moody’s
July 11, 2017 (LBO) – Hatton National Bank’s rights issue will boost their capital buffer well above the Basel III requirements that took effect in Sri …
Softlogic Holdings to acquire Suzuki Motors Lanka
July 06, 2017 (LBO) – Softlogic Retail (Private) Limited, a subsidiary of Softlogic Holdings, has entered into a share sale and purchase agreement with …
Sri Lanka’s Watawala Plantations to separate tea business
June 30, 2017 (LBO) – Sri Lanka’s Watawala Plantations is planning to set up a separate company relating to the tea business segment of the company by …
CB reminds of obligation to report suspicious transactions
June 29, 2017 (LBO) – Financial Intelligence Unit of the Central Bank requests Designated Non-finance Businesses (DNFBs) to report about suspicious …
Siyapatha Finance to raise Rs1bn in listed debt
June 29, 2017 (LBO) – Sri Lanka’s Siyapatha Finance is planning to raise as much as one billion rupees from a public offer of debentures which will be …
Anilana Hotels to sell 51-pct stake to Somap International
June 28, 2017 (LBO) – Sri Lanka’s Anilana Hotels said an international firm Somap International (Private) Limited plans to invest in up to 51 percent of …
Laugfs enters residential apartment development
June 27, 2017 (LBO) – Sri Lanka’s Laugfs Property Developers, a subsidiary of Laugfs Gas PLC, has formed a fully owned subsidiary to undertake residential …
Fitch expects more interest rate pressure for Sri Lankan corporates
June 20, 2017 (LBO) – Fitch Ratings says it expects rising domestic interest rates to hurt Sri Lankan corporates over the next 12 months. Releasing a …
Lankem Ceylon acquires injection moulding firm for Rs150mn
May 26, 2017 (LBO) – JF Packaging Private Limited, a fully owned subsidiary of Lankem Ceylon, has acquired a firm engaged in the business of injection …
DFCC sells stake in Commercial Bank to subscribe for rights issue
May 25, 2017 (LBO) – Sri Lanka’s DFCC Bank Wednesday sold 1.18 percent of the issued voting shares in Commercial Bank, the bank said in a stock exchange …