Category: Companies
Supun Weerasinghe appointed as group CEO of Dialog Axiata
Jan 02, 2017 (LBO) – Sri Lanka’s telecommunications blue chip Dialog Axiata today informed the stock exchange that Supun Weerasinghe has been appointed as the Group CEO with effect from yesterday. Dialog Axiata said the board of directors of the company approved the appointment of Weerasinghe as an executive director of the Company. “Weerasinghe presently […]
Sri Lanka’s largest fully integrated tire plant to be built with Rs11.25bn
(Press Release) – Rigid Tyre Corporation (Pvt.) Ltd. Equipped with the latest technology, this new plant is destined to roll in a new page in the industrial sector of Sri Lanka. It comes with the healthy integration of political acumen, local entrepreneurship and proven European technology in the form of a world reputation –Marangoni of […]
Newly listed Melstacorp wants to blend revenue streams
Dec 30, 2016 (LBO) – Sri Lanka’s newly listed Melstacorp is to blend the revenue streams the group receives through its different sources to ensure an appropriate blend, Managing Director Amitha Gooneratne said. He emphasized that the company wants to maintain its diversified interests and income generation going forward. “The greatest challenge of Melstacorp would […]
Sri Lanka Amana Bank seeks foreign investors for capital enhancement
Dec 30, 2016 (LBO) – Sri Lanka’s Amana Bank today said its director board is currently in discussions with prospective foreign investors to enhance their capital in line with Central Bank requirements. The budget 2017 proposed to increase the minimum core capital level from the current 10 billion to 20 billion rupees for all licensed […]
Sri Lankan shares fall about 10 pct in 2016; directions on rupee, rates awaited
Dec 30, 2016 (Reuters) – Sri Lankan shares fell on Friday, posting a yearly decline of about 10 percent, in thin trade due to year-end holidays, while investors waited for directions from the central bank on the rupee and interest rates. The central bank is most likely to keep its key interest rates steady at […]
Sri Lankan shares hit more than 1-wk closing high; PABC boosts turnover
Dec 29, 2016 (Reuters) – Sri Lankan shares touched a more than one-week closing high on Thursday led by financials, with shares of Pan Asia Banking Corporation Plc accounting for 85 percent of the day’s turnover. The Colombo stock index finished 0.28 percent higher at 6,245.71, moving away from its lowest close since April 6 […]
Sri Lanka Melstacorp share trading commences from tomorrow
Dec 29, 2016 (LBO) – Sri Lanka’s newly formed Melstacorp, the holding company of Distilleries, said its shares will commence trading on the Colombo Stock Exchange from tomorrow. In a stock exchange filing, the company said these shares will be classified under the ‘Diversified Holdings’ sector. A total of 1,165,397,072 ordinary voting shares are to […]
Sri Lankan shares rise nearly 0.5 pct in high turnover
Dec 28, 2016 (Reuters) – Sri Lankan shares closed about half a percent higher on Wednesday, recovering from a more than eight-month closing low hit in the previous session, led by blue chips such as John Keells Holdings and Hatton National Bank. Turnover was 1.73 billion rupees ($11.59 million), more than twice the daily average […]
Sri Lanka’s Abans Finance to raise capital with Rs277mn rights issue
Dec 28, 2016 (LBO) – Sri Lanka’s finance sector player, Abans Finance, is to raise 277.34 million rupees by way of a rights issue, the company said in a stock exchange filing. The company has obtained the Central Bank approval in compliance with Finance Companies (Structural Changes) Direction No. 01 of 2013 by their letter […]
Businessman Dhammika Perera buys Beach Resorts for Rs330mn
Dec 27, 2016 (LBO) – Sri Lankan business tycoon Dhammika Perera has bought control of Beach Resorts limited for 330 million rupees, Amaya Leisure said. The Board of Directors of Amaya Leisure announced to the Colombo Stock Exchange that it has taken a decision to divest its entire shareholding in The Beach Resorts Ltd, a […]
Sri Lankan shares hit more than 8-mth closing low; turnover slumps
Dec 27, 2016 (Reuters) – Sri Lankan shares closed at their weakest in more than eight months in typical year-end holiday-thinned trading on Tuesday, with turnover slumping to a near 33-month low as investors stayed away. The Colombo stock index ended 0.22 percent lower at 6,202.83, its lowest close since April 6. It has shed […]
Sri Lanka Hayleys eyes 55-floor Twin Tower development project
Dec 27, 2016 (LBO) – Sri Lanka’s diversified Hayleys has approved in principle a property development project in Colombo for commercial office space. The venture would see the construction of “A” Grade Twin Towers, with 55 floors each, having a total floor area of 3.8 million square feet of space. The Board of Directors of […]