Category: Companies
”; Outlook stable
Fitch Ratings has affirmed Sri Lanka-based Hatton National Bank PLC’s (HNB) National Long-Term Rating at ‘AA-(lka)’. The Outlook is Stable. At the same time, Fitch has affirmed the bank’s Sri Lanka rupee-denominated senior unsecured debt at ‘AA-(lka)’. The ratings on HNB’s Basel II and Basel III compliant Sri Lanka rupee-denominated subordinated debt are affirmed at […]
The Finance (TFC) plunges deeper into the abyss with another Rs1bn loss
September 11, 2019 (LBO) – The Finance Company (TFC), once one of Sri Lanka’s largest non-bank financial institutions, reported a loss of Rs1bn for the quarter ended June 30, 2019. This brings total losses since inception of the company to a staggering Rs27bn (US$150mn). The company still has deposit liabilities of over Rs27bn on its […]
Driving growth in uncertain times tops agenda at Oxford Business Group roundtable
Sep 10, 2019 (LBO) – The steps that Sri Lanka could take to harness digital innovations and mitigate the impact on its economy of domestic political disruption and global trade uncertainty were among the subjects explored recently at a roundtable organised by the global publishing, research and advisory firm Oxford Business Group (OBG). Titled ‘How […]
Japanese investor to start manufacturing flexible packaging for Sri Lanka Tea Industry
Sep 09, 2019 (LBO) – Sri Lanka’s Board of Investment signed an agreement with a Japanese company to establish a plant that will be manufacturing flexible packaging that will be utilized by the local Tea industry. The agreement was signed by Mangala Yapa, Chairman of the BOI and Yusaku Sugano, Managing Director of Sugano Colombo […]
CCC biz conclave draws foreign participants for agri, power , tourism, exports, infrastructure
Sep 09, 2019 (LBO) – The Sri Lanka Investment and Business Conclave 2019 has shown a rise in interest for agriculture, power and energy, infrastructure development, export manufacturing/services, knowledge services and tourism/leisure by delegates registered to date to attend. Foreign companies interested in investing in Sri Lanka are also keen on agriculture, tourism and leisure, export services […]
Sri Lanka Singapore Business Council promotes Brand SL and showcases tech talent
SLSBC over the years has played the role of the catalyst to its members and other Sri Lankan corporates to promote bilateral trade between the two countries. This year, the SLSBC led a delegation of 31 Board level individuals from 26 local companies drawn from a multitude of industry sectors to explore opportunities. What was […]
Morison initiates second attempt to delist from Colombo Stock Exchange
Sep 04, 2019 (LBO) – The Board of Directors of Morison by way of a circular resolution dated yesterday, has resolved to initiate the delisting of the company’s fully paid voting shares and fully paid non-voting shares from the CSE. The company said in a stock exchange filing that the delisting will be subjected to […]
‘s Bank privatization rumour is baseless & politically motivated: Finance Ministry
Sep 03, 2019 (LBO) – Sri Lanka’s Government emphasizes that the proposed amendments to the People’s Bank Act never aims to privatize People’s Bank. According to the Finance Ministry, the only objectives are to increase the authorized share capital of the People’s Bank and to enable the Bank to issue debentures without the additional requirement […]
CSE to amend listing rules in improving public market access, IPO process
Sep 03, 2019 (LBO) – Colombo Stock Exchange (CSE) and the Securities and Exchange Commission of Sri Lanka (SEC), is proposing to revise the regulatory framework governing the initial listing of shares on the CSE. The exercise is aimed at broadening the CSE Listing Rules to complement Sri Lanka’s rapidly developing commercial landscape comprising of […]
Fitch affirms rating of some Sri Lanka banks
Sep 03, 2019 (LBO) – Fitch Ratings has affirmed the long-term issuer default ratings (IDR) of the following Sri Lanka-based banks: National Savings Bank (NSB) at ‘B’; outlook stable Bank of Ceylon (BOC) at ‘B’; outlook stable Fitch has also affirmed the national long-term ratings of the following banks: NSB at ‘AA+(lka)’; outlook stable BOC […]
Prime stands tall among ‘Most Respected Entities in Sri Lanka’
Prime Group was selected as the Most Respected Real Estate Organization among Sri Lanka’s ‘Most Respected Entities’ in 2019 for the third time, through an independent ranking commissioned by LMD ( Lanka Monthly Digest) and conducted by Nielsen. The Prime Group was ranked at the 34th position among the selected 135’ Most respected Entities in […]
Capitol TwinPeaks, calls for grading system to safeguard condominium buyers and lenders
Sep 02, 2019 (LBO) – Capitol TwinPeaks, the flagship residential venture of the Sanken Group, addressed a panel of industry peers at the ‘Future of Condominium living in Sri Lanka’ on the issues faced by Condominium Developers in Sri Lanka. The event, under the leadership of President, CCI and Managing Director, Sanken Construction Pvt Ltd […]