Category: Companies
Interview : Present and future trends in real-estate and condo market in Sri Lanka
Mar 11, 2019 (LBO) – The Blue Ocean Group of Companies has grown into a versatile conglomerate over the past few years. The group of companies engage in real estate, construction, engineering, trading, education, travels and holidays, entertainment, consultation and many other fields. LBOTv had a chat with Chairman of Sri Lanka’s Blue Ocean S.Thumilan…..
Realistic budget but concern on growth & implementation: Ceylon Chamber
Mar 07, 2019 (LBO) – The Ceylon Chamber of Commerce says that the GDP growth estimates provided in the budget speech, for the period from 2019-2024 are of concern as it only expects growth to gradually rise from 3 percent in 2018 to 4.8 percent by 2024. “The growth estimates for this period is not […]
Another cash call – DFCC to tap the markets for Rs7.6bn in strikingly low priced rights issue
March 6, 2019 (LBO) – DFCC became the latest major bank in Sri Lanka to tap the capital markets in an aggressive rights issue. The bank aims too raise Rs7.6bn in new equity with the rights issue priced at Rs72/share. Pricing is close to the current trading price in the market of Rs75/share, but much […]
Sri Lanka Budget 2019: Overview of key taxation proposals
Mar 06, 2019 (LBO) – Sri Lanka’s budget 2019 estimates total revenue and grants of 2,464 billion rupees against a total estimated expenditure of 3,149 billion rupees. The resulting budget deficit of 685 billion rupees is expected to be financed by foreign financing of 55 billion rupees and domestic financing of 630 billion rupees. All […]
‘s Basel III sub debt final A(lka)
Feb 28, 2019 (LBO) – Fitch Ratings has assigned National Development Bank’s proposed Basel III-compliant subordinated debentures a final National Long-Term Rating of ‘A(lka)’. The notes, which total up to 6.5 billion rupees with maturities of five years, include a non-viability clause and qualify as regulatory Tier II capital for the bank. The bank plans to […]
Fitch revises outlook on HNB Assurance, HNB General Insurance to positive
Feb 28, 2019 (LBO) – Fitch Ratings has revised the Outlook on the National Insurer Financial Strength (IFS) Ratings of life insurer HNB Assurance and its fully owned non-life subsidiary, HNB General Insurance, to Positive from Stable and affirmed the ratings at ‘A(lka)’. KEY RATING DRIVERS The Outlook revision reflects better non-life capitalisation and financial performance […]
Prima Ceylon eyes more investments as it completes 40 years in Sri Lanka
Feb 28, 2019 (LBO) – Prima Ceylon, the flagship company of the Prima Group Sri Lanka, celebrated four decades of successful partnerships and growing together with the nation, at an event recently in Trincomalee, where its state-of-the-art flour milling complex and one of the largest flour mills in the world under one roof, is located. Speaking […]
Ceylon Chamber of Commerce seminar to analyze national Budget 2019
Feb 27, 2019 (LBO) – Ceylon Chamber of Commerce will hold its annual National Budget seminar on 7th March 2019 that will discuss the implications of key policy changes in Budget 2019 and if it will be positive towards enhancing investments to strengthen Sri Lanka’s economic future.This seminar serves as an important opportunity for the business […]
Resus Energy to invest Rs.1.3Bn in hydro and solar power projects in Sri Lanka
Feb 26, 2019 (LBO) – Resus Energy PLC a renewable energy firm says they will be investing a staggering 1.3 billion rupees hydropower and solar power projects during this year. These projects have been structured with focus to generating renewable and sustainable energy combining the latest tech and an environmentally responsible business proposition, the Company said issuing […]
Ceylon Chamber of Commerce calls export SMEs to apply for on-the-job coaching
Feb 26, 2019 (LBO) – Ceylon Chamber of Commerce (CCC) requests export SMEs that has a high potential for growth to apply for an on-the-job coaching programme to improve their export competitiveness. Export SMEs facing various difficulties and challenges pertaining to the successful handling of their exports are eligible to receive this coaching assistance free […]
‘s Ceylinco Life posts income of Rs.29.2Bn; PBT of Rs7.2 Bn in 2018
Feb 26, 2019 (LBO) – Ceylinco Life has reported total income of 29.21 billion rupees for the year ending 31st December 2018 and recorded premium income of 17.8 billion rupees, an improvement of 13 percent over the previous year. Announcing its 15th consecutive year of market leadership in Sri Lanka’s life insurance industry, Ceylinco Life […]
Financial Action Task Force endorses initial progress made by Sri Lanka
Feb 25, 2019 (LBO) – Financial Action Task Force (FATF), the global policy setter on Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT), has made the initial determination that Sri Lanka has completed its action plan. However, that warrants an on-site assessment to verify that the implementation of Sri Lanka’s AML/CFT reforms has begun […]