Author: lbostgadmin
‘s DFCC Bank bottom line
July 30, 2018 (LBO) – Sri Lanka’s DFCC Bank, the banking arm of the DFCC Group reported a drop in profit for the second quarter amidst a challenging business environment. The drop in profit was due to higher impairment provisions, as well as a one-off gain from the disposal of shares of Commercial Bank during […]
”’ 2018 list
Jul 30, 2018 (LBO) – Sri Lanka’s Union Assurance PLC, a life insurance provider has made it to Forbes Asia’s 2018 list of ‘Best under a Billion ‘ list of the top 200 publicly listed companies in the Asia-Pacific region. The list name 200 public companies in the Asia Pacific region with annual revenue between US […]
John Keells Holdings reports weak results, 62% of Cinnamon Life residencies sold
July 29, 2018 (LBO) – Sri Lanka’s most important listed company, John Keells Holdings (JKH) reported weak results for the quarter ended June 2018. Despite an impressive 12% increase in revenue, margins were compressed translating to a 23% drop in the bottom line compared to the June quarter 2017. The company earned Rs2.2bn (US$14mn) for […]
Sangakkara responds on Twitter to inaccurate quote in Ceylon Today
July 29, 2018 (LBO) – As speculation heats up about Sri Lankan cricket legend Kumar Sangakkara’s presidential ambitions, he has already had to come out and correct false quotes attributed to him by Sri Lankan media. After the emergence of Imran Khan as Pakistan’s Prime Minister to be, it seems as if many Sri Lankans […]
Cambodia’s Hun Sen To Continue as World’s Longest Serving Prime Minister
July 29, 2018 (LBO) – Hun Sen’s Cambodian People’s Party (CPP) has won the country’s 6th general election held on July 29 in a landslide and he will continue as the world’s longest serving Prime Minister, extending his 33 years for another 5 year term. The highly controversial election was deemed illegitimate by the U.S., […]
Sri Lanka Economic Summit 2018 – registrations now open
The country’s foremost economic event – Sri Lanka Economic Summit 2018 will be held for the 18th time on the theme, ‘On the Fast Track to a Turnaround”. This event organized by the Ceylon Chamber of Commerce, is to take place on 13th – 14th September at Cinnamon Grand Colombo. Sri Lanka’s economy is once […]
Opinion: Understanding the Sri Lanka-Singapore FTA
By: Ganeshan Wignaraja and Amitendu Palit July 28, 2018 (LBO) – While the global trade war threatens to disrupt the momentum of global trade and the prospects of global economic growth, encouraging signs of commitment to trade are visible elsewhere. Countries across the world continue to remain committed to free trade notwithstanding anxieties over the […]
CSE listed Kingsbury hotel (SERV) reports a loss, revenue flat
July 28, 2018 (LBO) – The Colombo Stock Exchange listed Kingsbury hotel (SERV) reported a small loss of Rs7mn for the quarter ended June 2018.Revenue was flat, up just 1%. These results were actually better than the prior year June quarter where the property lost Rs26mn.The Kingsbury is a Hayleys group subsidiary. Hayley’s is controlled […]
John Keells Hotels loses Rs263Mn for quarter, continues serial under-performance
July 27, 2018 (LBO) – Colombo Stock Exchange listed John Keells Hotels (KHL) reported weak results for the quarter ended June 2018.The company lost Rs263mn in the quarter, a seasonally weak one for Sri Lanka tourism.The company had approximately a 50/50 split of revenue between Sri Lanka and the Maldives in the quarter. The Sri […]
Foreigners sell bonds during the week, CSE market turnover dries up
July 26, 2018 (LBO) – Indices of stocks traded at the Colombo Stock Exchange finished the week marginally lower. The ASPI finished the down .6% while the S&P SL 20 finished down 1.2% during the holiday shortened week. Total market turnover during the 4 day week was extraordinarily low at just Rs1.1bn (US$7mn), one of […]
‘s affirms ratings of BOC, HNB & Sampath; maintains negative outlook
July 26, 2018 (LBO) – Moody’s Investors Service has affirmed the local currency deposit ratings of Bank of Ceylon (BOC), Hatton National Bank Ltd. (HNB) and Sampath Bank PLC at B1/NP.The foreign currency issuer rating and deposit ratings of these banks are also affirmed at B1 and B2/NP respectively. Moody’s has also affirmed the Baseline Credit […]
”s ratings at B1; maintains negative outlook
July 26, 2018 (LBO) – Moody’s Investors Service has today affirmed the Government of Sri Lanka’s foreign currency issuer and senior unsecured ratings at B1 and maintained the negative outlook. Moody’s Investors Service said the decision to affirm the rating at B1 reflects Sri Lanka’s progress in implementing the planned reform program, which entails fiscal consolidation and […]