Category: Companies
Fitch-rated finance Cos unlikely to face immediate rating action despite new Regs
Jun 14, 2018 (LBO) – Fitch Ratings says finance companies rated by them are unlikely to face immediate rating action, as they believe all have adequate capital to meet the thresholds that will apply from 1 July 2018. Even after taking account of potential RWA changes, based on the current asset mix – and most […]
‘s Access Engineering (AEL)
June 13, 2018 (LBO) – Due to the lacklustre performance of the Colombo Stock Exchange, foreign investors likely have made significant losses investing in Sri Lankan stocks over the past few years. Some of the largest losses they have experienced in percentage terms are likely to be investments made in shares of Sri Lankan listed […]
Fairfield Holdings acquires controlling interest of Alethea Group
Jun 12, 2018 (LBO) – Alethea Group, a private educational institution has divested controlling interest of its equity to Fairfield Holdings at end May 2018.The transaction was arranged and supervised by M Power Capital which was responsible for the overall transaction as well as sell-side advisory for Alethea, while PwC was the adviser on the […]
Chevron Lubricants Lanka (LLUB) in Decline as CEO Kishu Gomes Exits
June 12, 2018 (LBO) – On May 22, 2018 Kishu Gomes resigned as Managing Director/CEO and as a Director of Chevron Lubricants Lanka with ‘immediate effect’ as per stock exchange disclosure. He was immediately replaced by the company’s Chairman Rochna Kaul, who has served as General Manager Chevron Lubricants in Pakistan. The abrupt resignation came […]
Sri Lanka Eco summit to focus on the fast track to a turnaround
Jun 12, 2018 (LBO) – Sri Lanka Economic Summit 2018, organized by the Ceylon Chamber of Commerce to take place on 12th – 14th September at Cinnamon Grand Colombo will be themed “On the Fast Track to a Turnaround”.Sri Lanka’s economy is once again at a crucial juncture in need of a swift and well strategized […]
S&T Interiors Sri Lanka to debut first overseas project at Marriott Maldives
Sri Lanka’s most exclusive turnkey contracting and interior fit-out company, S&T Interiors Sri Lanka is rapidly nearing completion on its milestone project for the Marriott Maldives Resort and Spa. The project marks S&T Interiors Sri Lanka’s first first-ever international project and follows on several high-end domestic projects – from the Mövenpick City Hotel in Colombo […]
SriLankan Airlines CEO Suren Ratwatte retires amid Commission hearings
June 08, 2018 (LBO) – SriLankan Airlines CEO Suren Ratwatte has submitted a letter announcing his early retirement, few days after Presidential Commission on SriLankan and Mihin commenced witness hearings. Ratwatte appointed as the Chief Executive Officer of SriLankan Airlines and Mihin Lanka with effect from October 2015. Presidential Commission is to investigate alleged irregularities […]
Laugfs empowers future generations with Nana Maga Math camps
The LAUGFS Nana Maga Math Camps conducted in collaboration with the Ministry of Education marked another milestone of assisting over 1500 students to strengthen their mathematics knowledge through skill enhancement.The 10th programme was recently conducted in Matara with over 150 G.C.E. (Ordinary Level) students. The LAUGFS Nana Maga Math Camps project was launched last year […]
CSE transfers companies to Watch List due to non-submission of reports
June 07, 2018 (LBO) – Colombo Stock Exchange has transferred nine companies to their Watch List with effect from today due to non-submission of interim financial statements for the period ended 31 March 2018. Accordingly, Anilana hotels and properties, Adam capital, Tess agro, Ceylon & foreign trades, Janashakthi, Ceylon printers, Lucky Lanka milk processing, Office […]
Malik visits German Engineering Company at Katunayake BOI
Malik Samarawickrama Ministry of Development Strategies and International Trade visited the Kramski Lanka (Pvt) Ltd manufacturing plant at the BOI’sKatunayake Export Processing Zone. This German Enterprise was established in Sri Lanka in 1993 and has been engaged as a BOI project in the designing and manufacture of advanced products utilized in complex engineering processes. Kramski […]
ICRA Lanka assigns [SL] A1 rating to commercial paper programme of LOLC
June 06, 2018 (LBO) – ICRA Lanka Limited, aubsidiary of ICRA Limited, group company of Moody’s Investors Service, has assigned [SL] A1 rating to the 1,000 million rupees commercial paper programme of Lanka ORIX Leasing. Full text of the rating action is reproduced below. Rating action: ICRA Lanka Limited, Subsidiary of ICRA Limited, group company of […]
How to overcome three common challenges in software outsourcing
Outsourcing is an excellent way to cut operating expenses, but it is not a perfect tool. Businesses have reported having problems with their offshore teams due to poor quality work, frustrating delays and long hours at the office. Challenges from outsourcing include lack of communication, higher than expected costs and quality not matching expectations. However, […]