Category: Companies
Opinion : Financial reporting and the impact on capital market development
By Nandika Buddhipala Introduction The origination of financial reporting can be closely connected to the requirement to collect and record data which evolved into a stage where the capacity of the human brain was not sufficient to accommodate and memorize the evolving volume of data and transactions. Interestingly the existence of record keeping can be […]
Cabinet nod for Govt. to write off microfinance debt
Jul 25, 2018 (LBO) – Sri Lanka’s government approved a Cabinet paper to write off non-consumption loans up to 100,000 rupees given to women by all registered finance companies. “This scheme of relief initially will be limited to women who have obtained microfinance loans for non-consumption purposes in 12 drought-affected districts, the Finance Ministry said in […]
‘s HDFC Bank
Jul 24, 2018 (LBO) – Fitch Ratings has maintained Housing Development Finance Corporation Bank of Sri Lanka’s (HDFC Bank) National Long-Term Rating of ‘BBB-(lka)’ on Rating Watch Negative (RWN), a statement said. “The RWN, first placed in August 2017, has been maintained pending a capital infusion from the Sri Lankan state (B+/Stable) to help HDFC […]
CSE listed Asian Hotels (AHPL) profit evaporates as new competitors emerge
July 24, 2018 (LBO) – Colombo Stock Exchange listed Asian Hotels and Properties (AHPL) reported weak results for the quarter ended June 30, 2018. Revenue was down 14% and profits were down sharply by 77%. The listed group owns the Cinnamon Grand and Cinnamon Lakeside hotels, making it the owner of the largest amount of […]
EGUARDIAN brings Fortinet’s third generation of network security toSri Lanka
(PRESS RELEASE) – EGUARDIAN Lanka, Sri Lanka’s leading value added IT distributor, recently held a knowledge sharing forum for their customers on Fortinet’s Security Fabric at the Cinnamon Grand. IT Heads from finance, telecom and software industry were in attendance to learn about the latest innovationsto the Security Fabric that can help protect their networks […]
Construction of USD250mn Rigid Tire factory proceeding rapidly: BOI
Malik Samarawickrama Minister of Development Strategies and International Trade visited the Rigid Tire Corporation (Pvt) Ltd factory site which is being built at the BOI Wagawatte Industrial Park. The factory represent a total investment of US$250 million with the possibility of increasing to as much as US$300 million. The project will adhere to all environmental […]
Janashakthi Life’s high-flyers qualify for million dollar round table
Janashakthi Insurance PLC announced that 14 members from its Sales team had qualified for the prestigious Million Dollar Round Table (MDRT) membership in 2018. This continues Janashakthi’s long streak of double digit MDRT qualifiers. Amongst this year’s group are several 2nd and 4th time qualifiers including H L A Harshana from the Company’s Colombo City […]
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Jul 20, 2018 (LBO) – Fitch Ratings has assigned Singer (Sri Lanka) PLC’s (A- (lka)/Stable) proposed senior unsecured redeemable debenture issue of up to LKR1.5 billion an expected National Long-Term Rating of ‘A-(lka)(EXP)’. The proposed debenture is rated at the same level as Singer’s National Long-Term Rating, fitch said. The full statement follows Fitch Ratings-Colombo-20 July […]
Nation Lanka Finance squeaks out a profit in the June quarter, deposits at Rs7.7bn
July 20, 2018 (LBO) – Colombo Stock Exchange listed company Nation Lanka Finance PLC (CSF) has turned a profit in the quarter ended June 30, 2018. The Central Bank of Sri Lanka (CBSL) registered finance company is the first listed finance company to report earnings for the quarter ended 20 days ago. The company reported […]
Construction industry future outlook positive, but challenges remain: RIU study
Jul 20, 2018 (LBO) – As a part of its ongoing research into the real estate and construction industry Research Intelligence Unit (RIU) conducted a survey among multifarious construction industry companies operating in Sri Lanka. Working with LECS, who recently held the 7th edition of their annual Construction Expo, the aim of this latest RIU […]
Sri Lanka Trade Information Portal to be unveiled tomorrow
July 19, 2018 (LBO) – Sri Lanka will unveil one of the biggest initiatives in its international trade history when the Department of Commerce launches the World Bank supported Sri Lanka Trade Information Portal (SLTIP) on Friday in Colombo. World Bank supported Trade Information Portals (TIP) across the world provide information that traders need to […]
Anantaya Resorts and Spas receive TripAdvisor certificates of excellence 2018
Reaffirming its efforts toprovide an exceptional guest experience, Anantaya Resorts and Spas recently received the ‘Certificate of Excellence 2018’ from TripAdvisor.Offering a luxury experience amidst tranquil settings, the Anantaya Resorts in Pasikudah and Chilaw have consistently earned positive reviews from both local and international travellers. Commenting on the certificate received, LAUGFS Leisure Director/Chief Executive Officer, […]