Category: Companies
Sri Lanka computer literacy at 27.5-pct: Digital literacy growing
Jan 30, 2019 (LBO) – Overall computer literacy reported in 1st half of 2018 for Sri Lanka is 27.5 percent, a new survey shows. This is an decrease of 0.8 percentage points from 2017 (1st half) to 2018 (1st half). When the digital literacy is considered two out of every five (aged 5 – 69) has […]
Sampath Bank says ‘incident’ reported in media already corrected
Jan 29, 2019 (LBO) – Sampath Bank says they have already taken appropriate measures to correct what they called an ‘incident’ occurred several months ago, to ensure no recurrence. Referring to an article appeared on a website this morning that is being shared on social media about a financial irregularity, the bank said in a stock […]
” as government support weakening
Jan 24, 2019 (LBO) – Fitch Ratings has downgraded the National Long-Term Rating and senior unsecured debentures of Housing Development Finance Corporation Bank (HDFC Bank) to ‘BB+(lka)’ from ‘BBB-(lka)’ reflecting the weakening of the sovereign’s ability to provide support. “The downgrade reflects Fitch’s assessment of HDFC Bank’s standalone strength, as we believe timely support from the […]
SriLankan Airlines posts Rs40bn net loss for 9 months amid rising fuel prices
Jan 23, 2019 (LBO) – SriLankan Airlines said the net loss for the nine months ended 31 December 2018 was 40 billion rupees (USD135mn) against the loss for the corresponding period of previous year stood at 11 billion rupees (USD66mn). During this period, SriLankan’s net traffic revenue from core airline operations has increased to 120 […]
SriLankan fleet has one Airbus not in use; one engine fitted to another aircraft
Jan 18, 2019 (LBO) – SriLankan Airlines revealed that its fleet has one Airbus A330-200 aircraft bearing the serial number MSN-1008 and CAASL registration number 4R ALS that is not currently being used due to several reasons. The airline said they have removed one of the engines from this aircraft and fitted it to another […]
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Jan 18, 2019 (LBO) – Fitch Ratings has affirmed SriLankan Airlines Limited’s 175 million US dollars 5.3 percent government guaranteed bonds due 2019. The rating agency, however, said that the rating is not derived from its issuer’s standalone credit profile and is therefore not comparable with that of industry peers.Fitch has rated SriLankan Airlines’s US dollar-denominated […]
JKH buyback fully subscribed, Rs11bn worth of shares to be repurchased at 160
January 16, 2019 (LBO) – Shareholders have tendered approximately one hundred million shares of John Keells Holdings (JKH) into the company’s latest buyback offer. The company will purchase approximately seventy million of the shares tendered at a price of Rs160/share, constituting 5% of the total outstanding shares of the company. JKH will expend Rs11 billion […]
‘s CSCEC named as contractors for TRI-ZEN
Jan 14, 2019 (LBO) – Sri Lanka’s Braybrooke Residential Towers (Pvt) Ltd announced that it had appointed China State Construction Engineering Corporation Ltd (CSCEC) as the contractor for its residential project TRI-ZEN. The culmination of an ambitious joint venture between John Keells Holdings PLC and Indra Traders, the TRI-ZEN project aims to establish a vibrant […]
Deepthie Wickramasuriya joins the Board of Vidullanka PLC
Vidullanka PLC announced the appointment of Ms.Deepthie Wickramasuriya to the Board of Vidullanka PLC as a Non-Executive Independent Director with effect from 01st January 2019. This announcement follows the resignation of Mr. Zulficar Ghouse from the board a day before. In addition to joining the Board of Vidullanka PLC, Ms. Deepthie serves the Board of […]
BOI signs agreement for USD1.8mn warehousing & logistic project in Malwana
Jan 08, 2019 (LBO) – Sri Lanka’s Board of Investment has signed an agreement with Skylift Container Depot and Logistics to set up a facility that would be engaged in warehousing and logistics services with a container depot. This project with a total value of 1.83 million US dollars will be located at Walgama, Malwana […]
‘s Biz Chamber to host 2019 Outlook Seminar
Jan 07, 2019 (LBO) – The Ceylon Chamber of Commerce will organize its annual outlook seminar for 2019 under the theme of ‘Building Resilience Amidst Uncertainty’. The seminar serves as an important opportunity to understand both the outlook for the economy and key sectors in 2019. Dr. Indrajit Coomaraswamy, Governor of the Central Bank of Sri […]
Hayleys Advantis partners with Trustworthy.Ae Group to manage Abu Dhabi container facility
Jan 07, 2019 (LBO) – Hayleys Advantis , the transportation and logistics arm of Hayleys PLC, announced that it has entered into a deal with Dubai-based Trustworthy.ae Group. “Advantis is to operate and manage a state of the art Inland Container Depot (ICD) and third-party Container Freight Station (CFS) being developed by Trustworthy.ae Group in the […]