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Sri Lanka airline catering unit listing shelved
June 28, 2011 (LBO) – A plan to take public SriLankan Catering, a wholly owned unit of Sri Lanka’s state-run national carrier has been shelved amid a flood of private sector initial offers, Treasury secretary P B Jayasundera said. Several Sri Lankan private sector firms have raised money from capital markets in recent weeks. “Now […]
Sri Lanka apparel firm to trade from June 29
June 28, 2011 (LBO) – Orient Garments, Sri Lanka’s firm apparel manufacture to be listed on the Colombo Stock Exchange will be offered for trading from June 29, at an introductory price of 23 rupees. Orient Garments had posted revenues of 2. 8 billion rupees in the year to March 2011 with profits of 125. […]
Sri Lanka apparel exports recovery faster than expected: exporter
June 27, 2011 (LBO) – Sri Lanka is seeing a surge in demand for apparels abroad which may allow the sector to meet industry targets earlier than planned, the island’s largest single garment exporter said. Sri Lanka’s Joint Apparel Export Forum, an industry body has forecasted apparel exports to reach 5.0 billion dollars by 2015, […]
Sri Lanka stocks becalmed
June 27, 2011 (LBO) – Sri Lankan stocks closed almost flat Monday with speculative trade in Environmental Resources Investment (formerly known as Walker & Greig) and connected firms, brokers said. Abans Financial Services (AFSL) share started trading Monday and closed at 79.80, up 70.30 rupees or 740 percent from their introductory price of 9.50 rupees. […]
Asset Quality
June 27, 2011 (LBO) – Fitch Ratings Lanka has confirmed Sinhaputhra Finance’s (SFL) national long-term rating at ‘B(lka)’ with a negative outlook. The confirmation reflects the latest improvement in SFL’s credit risk management practices and the subsequent “stabilisation” in its asset quality, although the latter still remains weaker than its peers’ average, a statement said. […]
Stringent Standards
June 27, 2011 (LBO) – RAM Ratings Lanka has reaffirmed the Construction Guarantee Fund’s (CGF) long- and short-term financial enhancement ratings at BBB+ and P2 with the long-term rating having a stable outlook. “The ratings are supported by the Fund’s very strong capitalisation and stringent underwriting standards, as well as the expected financial support from […]
‘s Jetwing plans Rs5bn equity raising: report
June 27, 2011 (LBO) – Sri Lanka’s Jetwing Leisure group plans a raise 5. 0 billion rupees for expansion through a private placement and an initial public offer, as tourist arrival rise after a war, officials and reports said. It also runs Vil Uyana in Sigiriya and Hunas Falls in off Kandy in the central […]
Tele Affordability
June 27, 2011 (LBO) – Sri Lanka is among the top three countries in the world to see a sharp increase in telecom services affordability, a study by the International Telecommunications Union, a UN affiliated body has shown. ITU’s 2010 ICT Price Basket, measures the change in costs of mobile, fixed and fixed broadband services […]
Sri Lanka dredges canals to prevent flooding
June 27, 2011 (LBO) – Sri Lanka has begun deepening canals in marshes bordering the capital Colombo and digging lakes to prevent flooding during the rainy season and for tourism and recreation, officials said. A 24-acre land is being dug in the Rampalawatte area in Pelawatte along with another lake at Thalawatugoda. The project is […]
Sri Lanka consolidating knit fabric niche
June 27, 2011 (LBO) – Sri Lanka is fast becoming a niche producer of knitwear with the with finished products exports growing faster than those with woven cloth, partly due to the country’s specialization in intimate apparel, officials said. Omar says Textured Jersey could catch a part of the market, which is about three times […]