Category: Companies
Sri Lanka stock market records 8-pct gain in 1H
July 18, 2017 (LBO) – The benchmark All Share Price Index of the Colombo Stock Exchange (CSE) recorded an 8.23 percent gain year-to-date, a noteworthy turnaround in the first half of this year, having started the year on the back of a slow-moving 2016. The S&P SL 20 index, which features the CSE’s 20 largest […]
New revenue Bill should be implemented from April 2018: Ceylon Chamber
July 17, 2017 (LBO) – Ceylon Chamber of Commerce says it is their view that the new Inland Revenue Bill, once enacted, should ideally be implemented from 1st April 2018. The chamber says it will give a longer transitional period for both the tax payer and the Department of Inland Revenue to become fully conversant […]
LAUGFS to set up cylinder manufacturing plant in Bangladesh
July 17, 2017 (LBO) – LAUGFS Gas Bangladesh, part of the diversified Sri Lankan multinational LAUGFS Holdings, said it is planning to set up a cylinder manufacturing plant in Bangladesh. LAUGFS Gas Bangladesh currently operates a world-class LPG import, bottling and distribution facility in Mongla Port, the company said. It serves domestic and industrial segments […]
Sri Lanka prepares for 7th session of FTA talks with China
July 17, 2017 (LBO) – Sri Lanka is preparing for a seventh session of talks with China on a Free Trade Agreement, the Ministry of Industry and Commerce said. Minister Rishad Bathiudeen, speaking at the product exhibition by China’s Guangxi Zuang Autonomous Region at SLECC in Colombo, said FTA talks with China were progressing smoothly. […]
CSE records second highest yearly foreign inflow
July 12, 2017 (LBO) – Sri Lanka’s Colombo Stock Exchange has recorded the second highest-ever yearly net foreign inflow of 22.8 billion rupees, the exchange said. The highest net foreign inflow of 38.6 billion rupees was recorded in 2012. On Monday, foreign investors bought 127.4 million rupees worth of shares while selling 26.3 million rupees […]
Odel plans USD106mn mixed development project in Sri Lanka
July 12, 2017 (LBO) – Odel Properties One (Private) Limited, a fully owned subsidiary of Odel, has entered into an agreement with Sri Lanka’s Board of Investment to set up a mixed development project. Odel said in a stock exchange filing that as per the agreement signed on 30th June 2017, the envisaged investment will […]
HNB rights issue will boost capital, credit positive: Moody’s
July 11, 2017 (LBO) – Hatton National Bank’s rights issue will boost their capital buffer well above the Basel III requirements that took effect in Sri Lanka on 1 July, which is credit positive, Moody’s said in a analysis. Last week, the bank received shareholder approval for a 15 billion rupees right issue and the […]
Sri Lanka’s Watawala Plantations to separate tea business
June 30, 2017 (LBO) – Sri Lanka’s Watawala Plantations is planning to set up a separate company relating to the tea business segment of the company by segregating its operational assets and liabilities. The firm said in a stock exchange filing that the said assets and liabilities will be vested in the new limited company […]
Sri Lanka CCC appoints Rajendra Theagarajah as new chairman
June 30, 2017 (LBO) – The Ceylon Chamber of Commerce appointed Rajendra Theagarajah as its new Chairman during its 178th AGM held in Colombo, Thursday. Theagarajah, a veteran banker, succeeds the outgoing Chairman Samantha Ranatunga, who led the Chamber during the past two years. He functioned as the Vice Chairman, Deputy Vice Chairman, Board Member […]
Siyapatha Finance to raise Rs1bn in listed debt
June 29, 2017 (LBO) – Sri Lanka’s Siyapatha Finance is planning to raise as much as one billion rupees from a public offer of debentures which will be quoted on the Colombo Stock Exchange. Siyapatha Finance said in a stock exchange filing that the company wants to sell 10 million listed rated unsecured subordinate redeemable […]
Sri Lanka appoints Dumith Fernando to CSE Board
June 29, 2017 (LBO) – Sri Lanka’s Colombo Stock Exchange said it appointed Dumith Fernando as a Director of its board at its Annual General Meeting in place of Vajira Kulatilaka. Fernando is an experienced international investment banker with over two decades in the industry in the US and Asia. He led the acquisition of Asia […]
‘s Ube takes 10-pct stake in Tokyo Cement
June 28, 2017 (LBO) – Ube Singapore Holdings Pvt, a Japanese group operating businesses in the Southeast Asian region, has acquired a 10 percent stake in Sri Lanka’s Tokyo Cement Company (Lanka), a statement said. In a stock exchange filing Tokyo Cement Company said that 10,692,000 ordinary voting shares of the company was bought at […]