Category:
Express Dollars
Currently, clearing dollar drafts, dollar cheques etc drawn on local banks, takes a few weeks to clear.rn rnThe delays are longer if an outstation bank presents the foreign currency drafts/cheques to the clearing house.rn rnLankaClear quote s Chief Executive, L J Wickremasinghe says the new facility will kick in from October from their offices at […]
Falling Numbers
Sri Lankas tea crop slipped to 20.7 mn kilos in August, its lowest since 1999 when a figure of 19.4 mn kilos was recorded. Asia Siyaka Commodity brokers did not give a reason for production drop, but said the tea crop has fallen steeply by 38 percent todate, since peaking at 33 mn kilos in […]
Back To Depot
The Public Enterprise Reform Commission (PERC) will shortly re-advertise the government quote s intensions to infuse private ownership into 13 cash strapped state bus companies.rn rnThe move to re-advertise the proposal comes following a court ruling on Tuesday, directing the government to give a clear indication as to how much it hopes to sell in […]
Five Runners
Those selected are believed to be Janashakthi Insurance, DFCC Bank/Commercial Bank, Eagle Insurance with their principals Zurich, Asia Capital/Asian Alliance and CT Smith Stockbrokers representing a consortium, sources close to the deal said Wednesday.rn rnThose selected will have to carry out an extensive due diligence exercise before they submit financial bids.rn rnEarlier 18 parties had […]
Calling Rural Folk
Plans to set up the fund are included under the new National Communications Policy that will replace the National Telecommunications Policy.rn rnSpeaking at Wednesday quote s seminar on Infrastructure Policy Reforms organised by the Ceylon Chamber of Commerce, Telecommunications Regulatory Commission (TRC) Director Palitha Gunawardene says more high level planning is required to see the […]
Dual Options
The Central Bank is tipped to use more than one investment bank in its quest to raise US$ 350 mn via debt for the country.Around 12 international investment banks and international debt arrangers had earlier made some 40 proposals on how best to structure the issue.rn rnBut the list has now been narrowed down to […]
Private WWW
In the offering is a private realm for corporate entities over the world wide web, which they could use to send and receive data, make telephone calls and have access to any point connected in the VPN.rn rnThe benefit – low cost, anywhere any time access and secure voice and data transmission within the realm.rn […]
Another Breakdown
The government once again shelved plans to dispose 13 state run bus companies on the Colombo Stock Exchange until further notice.rn rnrnThe Public Enterprise Reform Commission (PERC) said Monday the divestiture of a 39 percent slice in the 13 transport companies has been put off.rn rnA petition filed in court against the transaction, pointing out […]
Extended Coverage
FRL said the rating is for Singer quote s Rs.300 mn unsecured redeemable debenture programme commencing 2002-5.rn rnLast Wednesday, Singer said it was raising Rs. 300 mn via a three-year debenture to retire high costs of short-term debt.rn rnSL A rating denotes a low expectation of credit risk. The capacity for timely payment of financial […]
Fund Raising
Upcoming leasing specialists, Allied Finance has raised around Rs. 100 mn by securitising part of its Rs. 600 mn leasing portfolio. rn rnSecuritisation pools together a group of receivables from financial assets. A trust certificate or a fixed income instrument is then issued to investors based on the strength of the cash flows. rn rnThe […]
BuzzingOA
Final touches are being put in place while being tested across a number of computer devices that supports the software DotNet, is expected to hit the shelves in mid 2003, with a host of new applications and with wider multilingual capabilities.rn rnMeanwhile, the company is also looking at restructuring its licensing policies to cater to […]
Dollar Bond Update
Central Bank is expected to submit a shortlist of investment bank proposals for the monetary board, to raise a dollar loan for the government.Four global investment banks have been short-listed out of twelve applicants to raise US$ 350 mn for the government in the overseas financial markets. rn rnThe shortlist will be presented to the […]