Category: Companies
‘s downgrades ratings of BOC, HNB, Sampath Bank; changes outlooks to stable
Nov 21, 2018 (LBO) – Moody’s Investors Service has downgraded the long-term local currency deposit and foreign currency issuer ratings of Bank of Ceylon (BOC), Hatton National Bank Ltd. (HNB) and Sampath Bank PLC (Sampath) to B2 from B1. At the same time, Moody’s has downgraded the long-term foreign currency deposit ratings of the same three […]
Sri Lanka lubricant market share shifting: Report
Nov 21, 2018 (LBO) – Sri Lanka’s lubricant market dynamics are shifting with market share of Chevron and Indian Oil dipping, a new report shows. According to data from the Public Utilities Commission of Sri Lanka (PUCSL) in the second quarter of 2018 Laugfs and Exxon Mobil have shown gains in the market. The full report […]
”; Outlook Stable
Nov 16, 2018 (LBO) – Sri Lanka-based Sunshine Holdings PLC’s National Long-Term Rating has been affirmed at ‘A-(lka)’ with a stable outlook, Fitch Ratings said in a statement. “The rating on Sunshine reflects its strong market positions in its diversified portfolio of products, which has elements of relatively defensive end-market demand, and the strong brand names […]
Ceylinco Life appoints new Chairman and MD
Nov 16, 2018 (LBO) – Ceylinco Life Insurance Limited (Ceylinco Life) has announced the appointment of R. Renganathan, the Company’s managing director/CEO, as executive chairman effective 14th November 2018, and the concurrent appointment of deputy CEO Thushara Ranasinghe as managing director/CEO. The life insurer said the changes at the top were part of the Company’s succession […]
‘s Altair adjudged best condo in Asia for architectural design
Nov 16, 2018 (LBO) – Sri Lanka’s Altair has beaten condominium developments in 15 countries in Asia including Singapore, Hong Kong, Japan, China and Australia, to win the ‘Best Condo Architectural Design’ award at the 2018 Asia Real Estate Summit (ARES) hosted by PropertyGuru Asia in Bangkok, Thailand. Altair was honoured at PropertyGuru’s ‘Best of […]
Sri Lanka business chambers call for urgent action to resolve political situation
Nov 15, 2018 (LBO) – Sri Lanka business chambers have called upon all those responsible to accord the highest priority to national interest and refrain from pursuing any path that will result in an economic downfall which will have an adverse impact on the country and the people. The statement released by Ceylon Chamber of Commerce, International […]
‘s Hattion National Bank 9 month Group PAT at Rs14.5Bn
Nov 15, 2018 (LBO) – Hatton National Bank PLC (HNB) reported a Profit After Tax (PAT) of 14.5 billion rupees at Group level for the nine months to September 2018 recording a growth of 23 percent YoY. The Bank’s PAT for the period amounted to 13.1 billion rupees growing by 21 percent YoY. The Bank said […]
Ceylinco Life’s 9-month net profit up 62-pct to Rs3.28Bn
Nov. 15, 2018 (LBO) – Sri Lanka’s Ceylinco Life has reported profit before tax of 3.734 billion rupees for the period nine months ending 30th September 2018. The life insurance player has reported profit before tax of Rs 3.734 billion for the period, reflecting growth of 48 per cent over the corresponding nine months of […]
Vallibel Finance pre-tax profits grow by 28.2-pct to Rs.1.03Bn
Vallibel Finance PLC returned yet another impressive report card with profits before tax (PBT) for the six months ending September, 2018 reaching a record high of Rs. 1.03 Billion. Acclaimed as one of the most respected finance companies in Sri Lanka, the name-bearer of the Vallibel Group continued its now customary outstanding financial performance with […]
Central Bank warns public to be attentive to financial scams/ phishing emails
Nov 14, 2018 (LBO) – The attention of the Central Bank of Sri Lanka (CBSL) has been drawn to recent grievances received from the general public regarding financial scams spreading through phishing emails/ social media messages. Issuing a statement the bank said it has noticed that the image of the Head Office building, the Logo […]
Hayleys records turnover of Rs.103Bn for six months ending September
Nov 13, 2018 (LBO) – Hayleys PLC, a diversified conglomerate posted a 65 percent Year-on-Year (YoY) increase in turnover up to 103 billion rupees for the six months period ending 30 September 2018. The Group posted strong operating profits which expanded to 6.8 billion rupees from 3.2 billion rupees in the corresponding period. The Group […]
Sri Lanka port volumes up
Nov 13, 2018 (LBO) – State owned Jaya Container Terminal (JCT) of Sri Lanka Ports Authority (SLPA), witnessed the highest growth of 23.3 percent in transshipment container throughput for the first nine months (from January to September) in 2018 as against the corresponding period in 2017. During the first nine months of 2018, the transshipment […]