Author: lbostgadmin
Sri Lanka mini-hydro power firm to list
Sept 29, 2010 (LBO) – Hydro Power Free Lanka, a mini-hydro power firm which has a generating capacity of 3.2 MegaWatts is selling 35 million shares to raise 350 million rupees to build more plants, the Colombo Stock Exchange and officials said. The firm operates two 1.6 MegaWatt plant in the Gampola area in Sri […]
Sri Lanka hotel share, warrants issue approved
Sept 29, 2010 (LBO) – Sri Lanka’s stock exchange has approved the issue of new shares and attached warrants by Hotel Reefcomber to raise cash to revamp the hotel, a statement said. Hotel Reefcomber, which owns the Amaya Reef hotel on the southwest coast, plans to consolidate 10 shares to one and then sell a […]
Capital Position
Sept 29, 2010 (LBO) – Fitch Ratings Lanka has confirmed DFCC Bank’s (DFCC) National Long-term rating at ‘AA(lka)’ with a stable outlook, a statement said. The agency has also affirmed DFCC’s senior debentures at ‘AA(lka)’ and subordinated debentures at ‘AA-(lka)’. “DFCC’s ratings are driven by its strong capitalisation supported by ongoing high profitability,” the rating […]
Fresh Capital
Sept 29, 2010 (LBO) – The Finance Company, a Sri Lankan finance company recovering after a run, is to raise 1. 6 billion rupees in fresh capital by attracting new investors and convert deposits into shares, a statement said. The Finance Company is recovering and had reduced losses to 431 million rupees in the June […]
Sri Lankan stocks close up 1.23-pct
Sept 29, 2010 (LBO) – Sri Lankan shares regained some lost ground Wednesday while regulators imposed a price band on two more stocks to curb price volatility, brokers said. MTD Walkers closed at 585.00 rupees, up 23.20 (4.13 percent) with 3,100 shares traded, and Singalanka Standard Chemicals at 220. 00 rupees, up 45.00 (25.71 percent) […]
Sri Lanka urban bonds oversubscribed
Sept 29, 2010 (LBO) – A five-year bond issued by Sri Lanka’s Urban Development Authority (UDA), a state agency, to raise 10 billion rupees has been oversubscribed, drawing applications worth 11 billion rupees, a statement said. The managers to the issue, Bank of Ceylon, said eight investors had made applications to the value of 6. […]
Sri Lanka starts nuclear power study, talks with Russia
Sept 28, 2010 (LBO) – Sri Lanka has begun a study to build a nuclear power plant to meet growing electricity demand and is in talks with Russia and other countries to get technology and training, an official said. “We’re considering nuclear power as an option in our long-term generation plan for 2025,” power and […]
Sri Lanka gets more Jet flights
Sept 28, 2010 (LBO) – India’s Jet Airways said it plans to introduce daily flights to the Sri Lankan capital Colombo from Delhi and Mumbai to cater to the rising number of visitors to the island. The two new flights starting from November 5, are in addition to the existing daily Chennal Colombo service, with […]
Clearing Cargo
Sept 28, 2010 (LBO) – The Sri Lanka Ports Authority which runs the island’s ports expects to be able to handle payments by port users online by January next year, an official said. It will eliminate the need for port users to visit the harbour to make payments, he said. Both its internal finance division […]
Sri Lanka stocks close down 0.50-pct
Sept 28, 2010 (LBO) – Sri Lanka stocks closed down Tuesday, as retail investors booked profits, while heavy trading on Bogala Graphite, East-West Properties, Colombo Land and Development Company, and Dialog Telekom pushed turnover up, brokers said. The All Share Price Index closed at 6,845. 77, down 0.50 percent (35.77 points), while the more liquid […]
Sri Lanka rupee bond yields drop on dollar debt sale
Sept 28, 2010 (LBO) – Sri Lanka government rupee securities yields slipped on news of a successful sale of a 10-year billion US dollar sovereign bond Tuesday, despite market participants discounting the effect earlier, dealers said. A 10-year rupee bond maturing on 01.08.20 was last sold at an auction at 9.30 percent but the bond […]
Sri Lanka urban bond draws investors
Sept 28, 2010 (LBO) – A five-year bond issued by Sri Lanka’s Urban Development Authority (UDA), a state agency, to raise 10 billion rupees has drawn applications worth 8. 2 billion rupees, a statement said. The bonds are to be listed on the main board of the Colombo Stock Exchange. The managers to the issue, […]