Category: Companies
Sri Lanka’s DIMO, Uni of Moratuwa unveils formula student race car
Jul 08, 2016 (LBO) – Diesel & Motor Engineering (DIMO), an automobile company together with the engineering students from the Mechanical Engineering Department of University of Moratuwa, unveiled “D-Mora P1,” a car to compete in world’s biggest student motorsport competition. “The University of Moratuwa is the one of the main hubs of engineering and technical […]
Ceylon Hotels Corp to reduce capital to clear carry forward losses
July 07, 2016 (LBO) – Ceylon Hotels Corporation has called an EGM in September to seek shareholder approval for the reduction of its stated capital to wipe off their carry forward losses. The directors have proposed to reduce the stated capital of the company from 1.22 billion rupees to 198.5 million rupees while setting off […]
” to Sierra Cables PLC Fitch Ratings
Fitch Ratings has assigned Sri Lanka based cable manufacturer Sierra Cables PLC (Sierra) a National LongTerm Rating of ‘BB+(lka)’. The Outlook is Stable. Sierra’s rating reflects its established core business, which has an extensive product portfolio, modest but expanding market share and stable EBITDA margins. This is counterbalanced by exposure to cyclical endmarkets, risks associated […]
Commercial Bank adds crosscurrency transactions to Online Banking
The Commercial Bank of Ceylon has added a new dimension to its Online Banking platform by enabling foreign currency account holders to carry out fund transfers between accounts maintained in different currencies other than Sri Lankan rupees. These transactions can be carried out between accounts maintained under a customers own namein eight major currencies including […]
Ceylon Cold Stores PLC Joins CSE to Open Trading for July
Ceylon Cold Stores (CCS) rang the opening bell to commence trading at the Colombo Stock Exchange (CSE) today. The market opening ceremony was organized to mark the first trading day for the month of July. Directors Mr. Ajit Gunewardene and Mr. Ronnie Peiris, President of the Consumer Foods Sector of JKH & Director Mr. Jit […]
Sri Lanka’s Lion Brewery falls below minimum public holding
June 28, 2016 (LBO) – The minimum public holding of Sri Lanka’s Lion Brewery has fallen below the stipulated float making it obligatory for the company to make an announcement. As per the minimum public holding rules, there are two ways to get listed on the main board of the Colombo Stock Exchange. One option […]
Sri Lanka to impose capital gains tax on stocks, Minister says
June 28 (Reuters) – Sri Lanka intends to impose a capital gains tax on profits from equities, a senior government minister said late on Monday, as the government attempts to shore up its finances to qualify for an IMF loan. Sri Lanka’s cabinet approved reintroducing a capital gains tax on land early this month, but has not said whether […]
‘s Amana Takaful Life announces IPO of Rs75Mn
June 28, 2016 (LBO) – Amana Takaful Life Limited (ATLL), a fully-owned subsidiary of Amana Takaful PLC, has announced an Initial Public Offering (IPO), via an offer for sale of 75 million rupees. ATLL becomes the first segregated life insurer in Sri Lanka to do so following the mandatory segregation of Life and General insurance […]
Abans Finance to raise Rs277mn through private placement
June 27, 2016 (LBO) – The directors of Abans Finance has decided to raise 277 million rupees for the company by way of a private placement of ordinary voting shares. Subject to necessary approvals, the proposed investor, Ironwood Investment Holding (Pvt.) Ltd will purchase 11,067,978 fully paid ordinary voting shares of the company at a […]
In Pictures: Swim Week 2017 highlights new designs and Colombo port
Day 1 of Swim Week Colombo kicked off on Friday showcasing designs by Sri Lankan and international designers at the ECT Terminal of the Colombo Port. The designers were: U by Upeksha Hager, Meraki, Juxtapose, heidi klein, Rachel Raj, CHARINI, c.h.a.r.l.e.n.e., and Shivan & Narresh. The venue of Colombo Port was a first, highlighting the […]
‘s Royal Turf Club unveils plans for next racing season
June 23, 2016 (LBO) – Sri Lanka’s Royal Turf Club (RTC) has several plans to popularize horse racing and the next racing season in Nuwara Eliya, with a Hollywood star expected at the first charity race, officials said. The next Nuwara Eliya racing season will commence on August 6th, with horses racing every two weeks […]
Fitch Downgrades NDB; Affirms 8 Sri Lanka Banks, Negative Outlook on DFCC, Sampath
Jun 23, 2016 (LBO) – Sri Lanka’s National Development Bank PLC’s (NDB) national long term rating has been downgraded to ‘A+(lka)’ from ‘AA(lka)’, Fitch rating said in a statement. The ratings on eight other Sri Lanka banks have been affirmed. The outlooks have been revised on DFCC Bank PLC’s (DFCC) and Sampath Bank PLC’s (Sampath) national longterm […]