Branching Out

Aug 01, 2011 (LBO) – eChannelling, a listed Sri Lankan dotcom that enables patients to make appointments with doctors over the internet, is to invest in a subsidiary as it diversifies into businesses like media and leisure. eChannelling to invest 150 million rupees as ordinary voting shares in group subsidiary ECL Soft, the company said in a stock exchange filing.

“The increase in capitalisation is required since the company is expanding rapidly and would need funds.”

The projects and strategic investments for which funds are needed include leisure, consultancy and training, media and advertising, financial services, global network of the ECL group, and business process outsourcing.

The new investment is subject to shareholder approval, the statement said.