Category: Companies
JKH hits post war valuation lows as second Balendra era beckons
Jul 04, 2018 (LBO) – The Colombo Stock Exchange has had a tough 2018, and there is no stock where this is more apparent than John Keells Holdings (JKH). JKH has been referred to as Sri Lanka’s bluest of blue chips. To many foreign institutional investors, JKH is the only stock in Sri Lanka that […]
‘s Basel III sub debt final AA-(lka)
July 03, 2018 (LBO) – Fitch Ratings has assigned Commercial Bank proposed Basel III-compliant subordinated unsecured debentures a final National Long-Term Rating of ‘AA-(lka)’. The final rating is the same as the expected rating assigned on 14 February 2018 and follows the receipt of documents conforming to information already received. The debentures, totaling 10 billion rupees, have […]
S Renganathan appointed Managing Director & CEO of Commercial Bank
July 02, 2018 (LBO) – Commercial Bank has appointed Sivakrishnarajah Renganathan as the new Managing Director and Chief Executive Officer of the bank since Jegan Durairatnam is retiring from the post at the end of this month. A career banker who has served Commercial Bank throughout the entirety of his 37-year working career, Renganathan has […]
Gamifying ahead through the enterprise solutions landscape : Virtusa
Globally, we are witnessing a steady rise in the pace of digital transformation with enterprises leading the charge. Gartner, Inc. projects worldwide IT spending to total $3.7 trillion in 2018 and notes that enterprise software continues to exhibit robust growth, thanks to the rise in the number of businesses actively investing in digital technologies to […]
Colombo Stock Exchange to launch new board for SME sector security listings
June 29, 2018 (LBO) – Sri Lanka’s Securities and Exchange Commission with the Colombo Stock Exchange will be launching a Small and Medium Enterprise Board for the SME sector next week. The SME Board which is to be launched for the first time in Sri Lanka will provide an opportunity for the SME sector to […]
CB Governor defends Deputy Governor from unfounded allegations
June 28, 2018 (LBO) – Central Bank Governor Indrajit Coomaraswamy on Thursday issued a special statement defending his fellow Central Banker Nandalal Weerasinghe. The statement is a reply to former Finance Minister Ravi Karunananyake who has repeated his allegations in the recent days against Senior Deputy Governor of the Central Bank, Dr. Nandalal Weerasinghe. “As […]
Sri Lanka’s outlook remains stable but is conditional on reforms: World Bank
June 28, 2018 (LBO) – World Bank says a challenging domestic political environment has already taken a toll, slowing down some reforms and complicating the stable medium-term outlook and an impending election cycle which will only elevate this risk. World Bank, releasing its June 2018 edition of the Sri Lanka Development Update said the reforms are […]
Noteworthy asset quality deterioration in Sri Lankan finance companies
June 28, 2018 (LBO) – ICRA Lanka, a group company of Moody’s Investors Service is cognisant of the asset quality deterioration in licensed finance companies in Sri Lanka, during the financial year ended March 31, 2018. “As per our analysis about 100bps increase (5.82% in March 2018 vis-s-vis 4.89% in March 2017) in gross NPA (non-performing […]
Vallibel Finance crosses Rs.1Bn mark for net profits
Jun 26, 2018 (LBO) – Vallibel Finance PLC crossed the one billion rupee net profit mark with the company announcing its income statement for the financial year ended on 31 March, 2018, recording growth across key indicators including income and profitability. Gross income for the financial year grew 35 percent over the previous year to reach 6.9 […]
Apartments only 1.7-pct of Colombo’s living units: Pradeep Moraes
Jun 26, 2018 (LBO) – Contrary to popular perception, apartments currently account for only 1.7 per cent of Colombo’s residential facilities despite the scarcity of land to cater to rapid urbanisation, an industry leader has disclosed. Representing Altair as a Director of the iconic development and the Condominium Developers Association of Sri Lanka (CDASL) as its […]
SEC, CSE launch ‘Empower’ for SME’s
Jun 25, 2018 (LBO) – The Securities and Exchange Commission of Sri Lanka (SEC) together with the Colombo Stock Exchange (CSE) will launch “Empower” – the SME Board to attract Small and Medium Enterprises (SMEs) to the CSE, creating a platform to attract SMEs to the CSE. The official launch is scheduled to be held on […]
PropertyGuru Asia Property Awards (Sri Lanka) 2018 finalists announced
Jun 22, 2018 (LBO) – Sri Lanka’s best developers are now officially finalists for the second annual PropertyGuru Asia Property Awards (Sri Lanka) competition, which is being held for the very first time in Colombo on 12 July 2018. More than a dozen companies have been shortlisted for the industry’s highest honours to celebrate excellence […]