Category: Companies
Commercial Bank profits marginally up in December quarter
Feb 24, 2020 (LBO) – Sri Lanka’s Commercial Bank group reported a net profit of 5.9 billion rupees showing a marginal improvement of equity holder’s profit of the bank in the December quarter. The group’s gross income for the quarter showed a marginal decrease of 0.29 percent against the previous year and a decrease in […]
Pan Asia Bank records its best-ever financial results
Pan Asia Banking Corporation PLC, “the Truly Sri Lankan Bank” ended 2019 Q4 with its best financial results ever, to report a Post Tax Profit of Rs.726.84 million during the final quarter, recording an impressive growth of 58% demonstrating its resilience amidst challenging conditions. Meanwhile, the Bank’s operating profit before all taxes for the quarter […]
NDBIB wraps up 2019 with Rs.62Bn in Capital raisings
Feb 20, 2020 (LBO) – NDB Investment Bank (NDBIB) continued to execute milestone transactions in 2019, reiterating its position as the unrivalled leader in investment banking in the country recording approximately LKR 62.0 Bn in fund raisings. All business segments, namely, equity raisings, debt capital markets and mergers and acquisitions (M&A) witnessed heightened levels of […]
FCR upgrades ASPI target for December to 7,500 amidst added boost to economy
Feb 19, 2020 (LBO) – With the recovery in economic activity and company earnings, First Capital Research (FCR) expects an upward trend in the capital market supported by stronger market multiples. Launching the Strategy Report 2020, Head of Research at the First Capital Holdings, Dimantha Mathew said that the heavy tax cuts and the policy […]
‘s Dialog Axiata inks USD 250Mn investment agreement with BoI
Feb 19, 2020 (LBO) – Dialog Axiata Group, the largest Foreign Direct Investor (FDI) operating under the aegis of the Board of Investment of Sri Lanka (BOI), announced the entering into of two supplementary agreements with the BOI for the investment of an additional sum of USD 254.1Mn (LKR 46.1Bn) in Sri Lanka’s ICT Infrastructure […]
SEC commences series of meetings with capital market stakeholders
Feb 19, 2020 (LBO) – Securities and Exchange Commission of Sri Lanka has commenced a series of meetings with capital market stakeholders to discuss issues in general and to obtain views with regard to the prevalent regulatory framework and the development of the capital market of the country. The newly appointed Chairman of the Securities […]
John Keells Properties partners with Union Assurance to provide life cover for TRI-ZEN customers
John Keells Properties signed a partnership agreement with Union Assurance –one of the country’s leading life insurance providers for corporates and individuals- to provide a comprehensive life insurance solution for TRI-ZEN customers. As part of this strategic alliance, TRI-ZEN customers will be offered a life insurance cover for LKR 7 Million, where the insurance premium […]
Sri Lanka vehicle registrations rebounds in Jan 2020
Feb 18, 2020 (LBO) – Sri Lanka’s total car registrations recorded 2,536 units in January up from 2,057 units in Dec but down from 3,147 units 12 months ago, a new report shows. “The recent policy interventions both in terms of fiscal policy (taxation) or capital moratoriums did not target vehicle registrations,” research firm JB […]
HNB Finance IPO oversubscribed on opening day
Feb 17, 2020 (LBO) – HNB Finance Limited’s initial public offering through an offer for sale of 10 million ordinary voting shares at 5.70 rupees per share was successfully oversubscribed on the opening date. As per the section 4.2.8 of the prospectus and introductory document, applications dispatched by courier or by post to registrars to […]
‘s Paragon Holdings launch augmented reality app
Feb 17, 2020 (LBO) – Paragon Holdings, specialising in outdoor advertising, TV & Radio advertising production, event management, and digital marketing announced the launch of their augmented reality application through Sri Lanka Augmented Reality (SLAR), recently in Colombo. SLAR has been launched as a member of Paragon and as a partner of UnifiedAR – an […]
Sunshine Holdings’ reports PAT Rs.1.7Bn, up 32.3-pct YoY
Feb 17, 2020 (LBO) – Boosted by the divestment of its tea plantations, diversified Sri Lankan conglomerate Sunshine Holdings PLC (CSE: SUN) reported notable growth in bottom-line performances during the first nine months of the current financial year (9MFY20). During this period, the Group posted a consolidated revenue of Rs. 15.8 billion, delivering a 32.3% […]
‘s Hemas Group profit down 5-pct in 3Q amid on-going recovery
Feb 14, 2020 (LBO) – Sri Lanka’s Hemas Holdings which has interests in FMCG, leisure, and healthcare has posted a shareholder profit of 974.7 million rupees in the third quarter, down 4.9 percent from a year earlier, interim accounts showed. On a year-to-date basis, the Group’s performance has been impacted by the aftermath of the […]