All Blogs
Tourist Dollars
Sri Lanka is beginning to put in place its tourism infrastructure, with eight key areas around the island and four zones in the North and East tagged for initial development.A US$ 60 mn JBIC loan is on the cards to develop infrastructure like roads and utilities like electricity, water supply, sewerage systems and waste disposal.rn […]
Dream Homes
Its fashionable to have an address at one of Colombos plush apartments these days. The government has fuelled the apartment craze by pushing lending institutions to offer cheap credit to meet the shortage of houses. As a result, price to rent ratios for apartments are currently topping 21 times. The sky-high rents are expected to […]
Boom Times
The Janashakthi Group expanded its property portfolio on Monday by taking full control of Kelsey Holdings (Pvt) Ltd.The deal, which cost just under Rs. 50 mn by way of debt/equity, saw Kelsey Holdings management and Ayojana Fund Management sell out to Janashakthi Securities & Financial Services Ltd.rn rnKelsey Holdings currently controls 87.82 percent of Kelsey […]
Malaysians Sail In
A top Malaysian business tycoon, Tan Sri Gnanalingam is keen to invest in and manage BOI free trade zones while also tapping potential of the leisure sector.The chairman of the 11 largest port in the world, Westport in Malaysia says, they could also look at investments in the Colombo port once private sector investors are […]
Out Of CRIB
The local credit information agency is trying to add value to its services with donor help.Credit Information Bureau says that World Bank help is on offer to improve its product offering which is presently limited to basic credit information.rn rnThe bureau will also go on line offering their clients quicker access to information.rn rnldblquote They […]
Go For Rating
Central Bank Deputy Governor W. A. Wijewardene told LBR that the credit rating would be in place early next year with bank funding for the whole process.rn rnThe first steps have been taken to find a lquote rating advisory dblquote .rn rnThe ldblquote rating advisory dblquote which will probably be an investment bank, will advice […]
JKH Big Bang
John Keells Holdings entered the property market with a bang by taking a stake in Asian Hotels for Rs. 4 bn.The acquisition of the 60 percent stake gives JKH control of the Colombo Plaza hotel while Asian Hotels also owns a significant stake in the Trans Asia hotel.rn rnThe hotel acquisitions will show up the […]
Road To Tooting
Colombos congested roads are not getting a break, with 3,000 new vehicles hitting the streets every month. Most of it is in the capital. Tax and excise on vehicle imports is a top revenue generator for the government. But critics say the countrys road infrastructure could soon start bursting at the seams if the current […]
Here She Comes
George OMarie, the first local designer label will hit shops around the world early next year.Backed by a top garment exporter Readywear Industries, the brand is expected to tap the upper and middle end of the apparel market.rn rnIts promoters however say the brand will be price competitive, compared to some of their more established […]
Cash Injection
The long established company plans to raise Rs. 300 mn through the Initial Public Offering sometime in November.rn rnShares will be offered at Rs. 20 each, which includes a 10-rupee premium.rn rnThe company says the shares will be listed on the Colombo Stock Exchange, approval for which will be sought soon.rn rnPrivate healthcare ventures including […]