Category: Companies
IMF wants SEC to streamline enforcement program; expedite high-profile criminal actions
May 23, 2019 (LBO) – International Monetary Fund (IMF) advises Securities and Exchange Commission of Sri Lanka (SEC) to streamline the current enforcement program and bring several high-profile criminal actions soon that will have a positive impact on the public’s confidence in the SEC as a regulator. Releasing the technical assistance report for enhancing the […]
CBSL intends to cut ownership limits of LFCs to 25-pct; invites stakeholder inputs
May 22, 2019 (LBO) – Sri Lanka’s Central Bank invites stakeholders to submit observations on the drafted master plan that intends to introduce ownership limits to the Licensed Finance Companies (LFCs). The Department of Supervision of Non-Bank Financial Institutions (DSNBFI) is in the process of introducing ownership limits for LFCs to strengthen the corporate governance […]
Hayleys revenue up 34-pct YoY to Rs.219Bn in FY 18/19
May 22, 2019 (LBO) – Sri Lanka’s Hayleys PLC, group revenue expanded by 34 percent yoy to 219 billion rupees while operating profit before interest increased by 40 percent yoy to 15.9 billion rupees in the financial year ended 31st March 2019 (FY18/19). The group earnings before interest, tax, depreciation and amortization (EBITDA) for FY […]
‘s private sector took a Pledge for Unity
May 21, 2019 (LBO) – Sri Lanka’s private sector representatives on Tuesday took a Pledge for Unity that they will work towards the goal of uniting people and inspire everyone in the country to do the same. The pledge was taken in all three languages by over 300 corporates who assembled for that purpose at […]
Ceylinco Life investment income grows by 16-pct to Rs.2.9Bn in Q1 2019
May 21, 2019 (LBO) – Steady growth of its life insurance business and strong investment gains have enabled Ceylinco Life to generate total income of 7.17 billion rupees in the first quarter of 2019, achieving healthy growth of 10.7 percent over the corresponding three months of last year. The life insurer has reported that premium […]
Dipped Products posts healthy growth: Group pre-tax profit up 32-pct in 2018/9
May 17, 2019 (LBO) – Sri Lanka’s Dipped Products Group pre-tax profit was up 32 percent to 1,643 million rupees in 2018/9, the company said. The Group achieved a profit before tax of 1,643 million rupees for the year ending 31st March 2019, a growth of 32 percent over the previous year. Profit after tax […]
Nedal Salem takes helm of Ceylon Tobacco Company
May 16, 2019 (LBO) – Nedal Salem was appointed managing director andchief executive officer of Ceylon Tobacco Company PLC (CTC) effective 15th May 2019. During his career spanning over two decades at British American Tobacco (BAT), Nedal has held various senior Management roles in nine markets across three continents. He holds a Bachelor of Arts […]
Opinion: Fresh frontiers of pharmaceutical innovation
By Sri Lanka Chamber of Pharmaceutical Industry For centuries, human beings have waged a relentless battle against a litany of diseases that have ravaged countless generations. From early influenza epidemics that decimated towns and villages to devastating pandemics such as the Black Death and AIDS, illness has stood as an eternal adversary to human wellbeing […]
Haycarb 2018/9 turnover Rs.20.9Bn: Raw material cost impacts negatively
May 16, 2019 (LBO) – Haycarb PLC reported revenue of 20.9 billion rupees, profit before tax of 1.35 billion rupees and profit after tax of 1.08 billion rupees for financial year 2018/19. The earnings per share of equity holders of the company increased to 32.16 rupees for the year. The Chairman of Haycarb PLC and […]
Sampath Bank’s Net Interest Income up by 23-pct in Q1 2019
Sampath Bank reported a net interest income of Rs. 10.2 Bn for Q1 2019 reflecting a noteworthy growth of 23.2% over the figure reported in Q1 2018, a significant achievement given the challenging economic conditions that prevailed throughout the period. The bank recorded a profit after tax of Rs. 2.2 Bn, a negative growth over […]
Central Bank extends regulatory action on The Finance Company for another three months
May 15, 2019 (LBO) – Sri Lanka’s Central Bank has decided to extend the regulatory action currently in place on The Finance Company for another three months, in order to consider the business restructuring proposal submitted by the company. Monetary Board of the Central Bank initiated a number of regulatory actions, as temporary measures, on […]
‘s only Dangerous Goods Storage Facility
May 14, 2019 (LBO) – Sri Lanka’s first, and South Asia’s most advanced, Dangerous Goods Storage Facility (DGSF) was commissioned on Friday, 10th May at the Colombo International Container Terminal (CICT) equipping the Port of Colombo with a sophisticated storage yard for cargo classified under the International Maritime Dangerous Goods (IMDG) Code. An investment of […]