Category: Companies
SL and Singapore explore strengthening cooperation in maritime, port development and aviation sectors
High Commissioner of Sri Lanka to Singapore Senarath Dissanayake met with Minister for Transport and Second Minister for Finance of Singapore Chee Hong Tat, recently and discussed potential collaboration between the two countries on shared initiatives. During the meeting, High Commissioner Dissanayake provided an overview of the opportunities in Sri Lanka, particularly in the maritime […]
First Capital Holdings announce board appointments
First Capital Holdings PLC, a member of the Janashakthi Group, is pleased to announce key appointments to its Board of Directors, effective June 28, 2024. Veteran banker Rajendra Theagarajah has been appointed as the Chairman. Joining him are Inoshini Perera, Rachini Rajapaksa, and Dilendra Wimalasekere as new members of the Board. The appointment of Rajendra […]
”; Outlook stable
Fitch Ratings has affirmed Sunshine Holdings PLC’s National Long-Term Rating at ‘AA+(lka)’. The Outlook is Stable. Sunshine’s rating reflects its steady business profile, which is anchored by defensive cashflows in its healthcare manufacturing and retail and consumer segments, and its strong balance sheet. This counterbalances weaknesses in its agriculture segment (16% of EBIT) over the […]
Hemas Holdings announces appointment of Ajith Fernando & Supun Weerasinghe as Directors
Hemas Holdings PLC announced the appointment of Ajith Fernando and Supun Weerasinghe as Independent Non-Executive Directors, effective 1st July 2024. Additionally, Ajith Fernando will serve as a member of the Hemas Board’s Nomination and Governance Committee. These strategic appointments underscore Hemas’ commitment to enhancing governance and leveraging deep industry expertise as the Group continues its […]
Administrative penalties imposed by FIU on Financial Institutions from Jan 1st to Apr 30th 2024
By virtue of the powers vested under Section 19(1) read together with section 19(2) of the Financial Transactions Reporting Act, No. 6 of 2006 (FTRA), financial penalties are imposed on Institutions for non-compliance with the provisions of the FTRA. The penalty may be prescribed taking into consideration the nature and gravity of relevant non-compliance of […]
Constituent Changes in S&P Sri Lanka 20 Index
The Colombo Stock Exchange (CSE) announces the following change in S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2024 Mid-Year rebalance. The exclusions and inclusion as announced by S&P Dow Jones Indices, effective from 24th June 2024 (after the market close of 20th June 2024) are presented below. Exclusions […]
Ceylon Chamber commends board-level agreement on second IMF review, Calls for sustained economic reforms
The Ceylon Chamber of Commerce congratulates the Government of Sri Lanka for securing a board-level agreement on the second review of Sri Lanka’s Extended Fund Facility (EFF) with the International Monetary Fund (IMF). This agreement provides Sri Lanka with immediate access to approximately SDR 254 million (about USD 336 million) in financing. This significant […]
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Fitch Ratings – Colombo – 14 Jun 2024: Fitch Ratings has assigned National Development Bank PLC’s (NDB, A-(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III- compliant subordinated debentures of up to LKR10 billion an expected National Long-Term Rating of ‘BBB(EXP)(lka)’. KEY RATING DRIVERS The proposed debentures will mature in five years and will be listed on […]
‘s implementation of shortened settlement cycle for equity trades proves successful
The Colombo Stock Exchange’s (CSE) implementation of the shortened settlement cycle for equity trades has been executed seamlessly with the first settlement under the T+ 2 cycle taking place on 12 th July 2024, marking a significant milestone in Sri Lankan Capital Market operations. Investors have experienced swift payment processing, receiving their funds within two […]
WealthOS successfully raises £4Mn with institutional investors Barclays
WealthOS, a UK-based cloud-native wealth management platform founded by two Sri Lankan entrepreneurs and with product and engineering operations in Sri Lanka, recently secured £4 million in seed funding led by Barclays Bank. In addition to Barclays, WealthOS also garnered investment from Main Set, a division of the international investment firm Capricorn Capital Partners UK […]
Nobel Biocare launches in SL, Bringing advanced dental implant solutions with Delmege Healthcare
Nobel Biocare, a global leader in innovative implant-based dental restorations, is thrilled to announce its official launch in Sri Lanka. This marks the first time our prestigious brand, renowned for its rich history and deep clinical expertise, will be available in this dynamic market. As a pioneer in implantology, Nobel Biocare is excited to be […]
TISL Demands Transparency in Adani Wind Power Project: Files Right to Information Applications
Transparency International Sri Lanka (TISL) has filed a series of Right to Information (RTI) requests with public authorities seeking crucial information regarding the transparency, legality, evaluation process, pricing, government involvement, and the Environmental Impact Assessment (EIA) related to the Wind Power Project in Mannar and Pooneryn, involving India’s Adani Group. Earlier this year, Adani Green […]