Category: Companies
‘s private sector being too risk averse: Finance Minister
Aug 03, 2016 (LBO) – Sri Lanka’s private sector is being too risk averse and now is the time to come forward with proposals, Finance Minister Ravi Karunanayake said. He was speaking at the Sri Lanka Economic Summit 2016 organized by the Ceylon Chamber of Commerce. “We have to take greater risk than what we […]
Sri Lanka’s Sampath Bank profits surge 54-pct in June quarter
Aug 02, 2016 (LBO) – Net profits at Sri Lanka’s Sampath Bank group rose 54 percent to 2.5 billion rupees in the June quarter from a year earlier, interim accounts showed. The group reported earnings of 14.16 rupees for the quarter against 9.20 rupees per share for the same period last year. The share was […]
Sri Lanka’s Commercial Bank to raise Rs7bn from listed debenture
Aug 02, 2016 (LBO) – Sri Lanka’s Commercial Bank is to raise 7.0 billion rupees from a listed debenture issue, the bank said in a stock exchange filing. The bank has decided to issue listed unsecured rated redeemable subordinated debentures worth 5 billion rupees with an option to go up to 7 billion rupees. The […]
Fitch affirms 10 Finance Companies; expects asset quality to deteriorate
Aug 02, 2016 (LBO) – Fitch Ratings has affirmed the ratings of 10 Finance Companies following its periodic review of the large and midsized finance companies in Sri Lanka. The 10 Finance Companies are People’s Leasing & Finance, Central Finance Company, Melsta Regal Finance, HNB Grameen Finance, LB Finance, Siyapatha Finance, Senkadagala Finance, AMW Capital Leasing And Finance, Singer Finance and Mercantile Investment & Finance. […]
Aitken Spence PLC Joins CSE to Open Trading for August
Aitken Spence PLC rang the opening bell to commence trading at the Colombo Stock Exchange (CSE) today and pledged to play its part in furthering the nation’s economic vision and growth. The market opening ceremony was organized to mark the first trading day for the month of August. Making remarks on behalf of Aitken Spence, […]
Melstacorp to become Distilleries parent, 180-degree share swap
Aug 01, 2016 (LBO) – Melstacorp limited will become the parent company of Distilleries Company of Sri Lanka PLC (DCSL) and other subsidiaries of the current DCSL Group, a statement said.. Distilleries Company of Sri Lanka PLC (DCSL) announced a reorganization of the shares and stated capital of DCSL and its fully owned subsidiary Melstacorp […]
GAAM: Foreign inflow of Rs207 mln to CSE during week
[pdf-embedder url=”http://lbo-stg.efserver.net/wp-content/uploads/2016/08/Weekly-Report-GAAM-29-07-161.pdf”]
Sri Lanka’s Seylan Bank profits Rs1 bln, flat in June quarter
Aug 01, 2016 (LBO) – Sri Lanka Seylan Bank group recorded a net profit of one billion rupees in the June 2016 quarter up 1 percent from the same period last year, a filing with the stock exchange showed. The group reported earnings of 3.08 rupees per share for the quarter up 1 percent from […]
Mobitel explores acquisition of Etisalat: report
Aug 01, 2016 (LBO) – Sri Lanka’s Mobitel intends to explore acquisition of Etisalat, after the Cabinet Committee on Economic Matters said it could carry out a due diligence prior to negotiations between the mobile companies, a media report said. A Committee is already looking into the proposed acquisition of Hutch, the fourth mobile phone […]
‘s Merchant property sale for amalgamation
July 29, 2016 (LBO) – Sri Lanka’s People’s Leasing and Finance says it will amalgamate with People’s Merchant Finance within this financial year subject to two conditions, the company said. In a stock exchange filing, People’s Leasing and Finance said the first condition is the sale of People’s Merchant Finance property located at Nawam Mawatha, […]
Textured Jersey Lanka net up 93-pct to Rs399 mln in quarter
Press Release: The TJL Group (TJ) has reported eight straight quarters of strong quarterly profit growth. The Q1 2016/17 performance has proved to be the Group’s best first quarter recorded to date, posting a consolidated net profit of Rs. 399 Million, representing a YoY growth of 93 percent. The Group has made significant progress in […]
John Keells Holdings net up 10-pct in June quarter
Jul 28, 2016 (LBO) – Sri Lanka’s diversified John Keells Holdings group profit after tax grew 10 percent to 2.6 billion rupees in the June quarter, from a year earlier with revenue climbing eight percent, the interim accounts showed. The consumer goods and transportation sectors posted strong growth of over 20 percent, while property, financial […]