Category: Companies
ADB approves USD100 Mn Loan to support SMEs in Sri Lanka
The Asian Development Bank (ADB) has approved a $100 million loan to provide small and medium-sized enterprises (SMEs) in Sri Lanka more access to finance and build their resilience to external shocks, such as the economic crisis and climate change. “SMEs play a critical role in Sri Lanka’s economy, contributing 52% to the country’s gross […]
Ceylon Chamber of Commerce Celebrates 185 Years of Service to Sri Lanka’s Private Sector
The Ceylon Chamber of Commerce, the premier representative of Sri Lanka’s private sector, proudly marks its 185th anniversary today (March 25). Established in 1839, initially to cater to the needs of the plantation industry, primarily rubber and coconut, it has evolved into an institution representing a wide sector of industry and commerce. Today, boasting a […]
Tech investor Dr. Cornelius Boersch reaffirms commitment and future investments in SL
Having invested in the tech sector for thirty years across frontier markets spanning South America to Asia, Dr Cornelius Boersch maintains that all markets exhibit similar dynamics. With this perspective, he first visited Sri Lanka in October 2021, emerging as one of the earliest global tech investors to commit to post-COVID recovery through Mountain Lion […]
Sunshine Holdings PLC announces new leadership appointments
Diversified conglomerate Sunshine Holdings PLC (CSE: SUN) announced that Aruna Deepthikumara, Michelle Senanayake, Dr. T. Sayandhan and Shantha Bandara, who are Executive Committee members of the Group, have been appointed as Executive Directors. Commenting on the appointments, Sunshine Holdings Group CEO Shyam Sathasivam said, “We are excited to announce the elevation of Aruna Deepthikumara, Michelle […]
”’; Outlook stable
Fitch Ratings has affirmed Sri Lanka-based telecom company Dialog Axiata PLC’s National Long-Term Rating at ‘AAA(lka) with a Stable Outlook. This reflects our view that Dialog can maintain a credit profile commensurate with a ‘AAA(lka)’ rating in the next 12-18 months, despite slower revenue growth, escalated costs and likely slight higher leverage. Dialog’s rating is […]
Ceylon Chamber calls for collaborative solutions on debt recovery framework
The Ceylon Chamber of Commerce is deeply concerned about the decision by the Cabinet of Ministers to temporarily suspend the parate execution law. While we understand that certain businesses essentially in the SME sector need to be supported in the current economic climate, providing that support in the form of curtailing credit recovery measures is […]
SEC appoints two top professionals to drive its HR and Organisation Transformation agenda
The capital market regulator, Securities and Exchange Commission of Sri Lanka (SEC) has appointed two experienced and talented professionals to head its HR function and drive the institution’s organisation transformation agenda. The two positions are Director and Assistant Director of HR & Organisation Transformation. The new Organisation Transformation function augments the existing Human Resources department […]
AICPA & CIMA recognise 20 Top Employers in Sri Lanka
AICPA & CIMA, together as the Association of International Certified Professional Accountants, revealed the names of the most attractive companies for accounting and finance professionals in Sri Lanka in their 2024 Top Employers list. AICPA & CIMA’s Top Employers list was created to recognise companies, which proactively support the development of the accounting and finance profession in […]
Backbay Solar and Orbital Energy commissions 2-megawatt capacity solar plants in East
Backbay Solar (private) Limited commissioned 2-megawatt ground-mounted solar power plants in Kommathurai Batticaloa on Sunday 10th March 2024, which are a part of the 1X90 SBS II solar tender under the Ceylon Electricity Board. Backbay Solar is managed by Sino Lanka Power Gen, a leader in commercial rooftop solar installations with approximately 50MW of projects […]
New Secured Transactions Registry to Help Expand Financing for Small Businesses in Sri Lanka
Small and medium enterprises (SMEs) in Sri Lanka are set to benefit from the newly established Secured Transactions Registry (STR), which aims to facilitate the use of moveable assets as collateral for loans while ensuring financial stability and fostering economic growth in the country. With technical assistance from the International Finance Corporation (IFC), the new […]
SEC Calls for a More Active Unit Trust Industry
The Securities and Exchange Commission of Sri Lanka (SEC) as part of its continuous engagement process with stakeholders in the capital market landscape, held a meeting with the CEOs of the Unit Trust industry last week. The main purpose of the meeting was to address the current state of the Unit Trust industry and urge […]
CA Sri Lanka forum unites experts to explore solutions and debate challenges on SOE restructuring
Stepping up in its standing as the National Body of Accountants and as a leading professional body, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) took the initiative to bring together experts to focus on the highly debated restructuring process of State-Owned Enterprises (SOEs). The enlightening forum, held on 04 th March […]