Category: Companies
SEC imposes restrictions on Entrust Capital Markets activities
May 09, 2016 (LBO) – Sri Lanka’s securities regulator has imposed several restrictions on Entrust Capital Markets (Pvt) Ltd (ECMPL) following regulatory concerns on the activities of the broker firm. The Securities and Exchange Commission in a letter has directed the firm that client funds are not withdrawn except with the prior written approval of […]
Czech eyes hydro power, sugar and aviation in Sri Lanka
May 09, 2016 (LBO) – Czech Republic is currently looking for trade and investment opportunities in Sri Lanka, a business delegation headed by Czech Ambassador said. The Board of Investment recently hosted representatives of leading Czech companies including Viktovice Power Engineering, Eldis, Fans, Skoda Doosan Power and Technoexport. Ambassador Milan Hovorka brought to the attention […]
‘ve crossed rubicon in climate change: Chamath Palihapitiya
May 09, 2016 (LBO) – Chamath Palihapitya, the Sri Lankan-born venture capitalist and tech visionary, highlighted several industry trends recently, ranging from Amazon’s valuation to funding fallacies in Silicon Valley. Commenting on climate change, Palihapitiya said humanity had crossed the rubicon, and new technologies will be needed to fix the problem. “Nothing takes away from […]
Sri Lanka’s Nestlé unit net up 10-pct in March 2016 quarter
May 06, 2016 (LBO) – Nestlé Lanka, a unit of a Swiss-based food group, said net profits rose 10 percent to 1.27 billion rupees in the March 2016 quarter from a year earlier. The firm reported earnings of 23.74 rupees per share for the quarter against 21.56 rupees reported a year earlier. The stock closed […]
Jetwing Lighthouse to build new hotel at Unawatuna for Rs350mn
May 05, 2016 (LBO) – Sri Lanka’s hotels and travel sector front runner Lighthouse Hotel has decided to construct a new hotel through incorporation of a fully owned subsidiary. The company said in a stock exchange filing that the Board of Directors has approved a proposal to build the hotel with 36 rooms at Unawatuna area for […]
Guardian Capital Partners to invest in private equity projects in Sri Lanka
May 04, 2016 (LBO) – Guardian Capital Partners, a part of the listed Ceylon Guardian Investment Trust Group has entered into a joint venture agreement with Small Enterprise Assistance Funds (SEAF) in US to carry on a fund management business to manage and invest in private equity projects in Sri Lanka. The company said in […]
Slogal Energy buys stake in Laugfs Gas Bangladesh for USD9.2mn
May 04, 2016 (LBO) – A fully owned subsidiary of Laugfs Gas Plc, Slogal Energy DMCC, incorporated in Dubai has acquired 31 percent of the total issued shares in Laugfs Gas Bangladesh for 9.2 million US dollars. Laugfs Gas Plc said in a stock exchange filing that they own the balance 69 percent shareholding of […]
Chevron plans to expand local and regional presence
May 04, 2016 (LBO) – Chevron Lubricants Lanka said that they have no immediate plans to go to new markets but will focus on growing local and regional presence, a senior official said. “Plans are to grow in the local and two export markets,” Kishu Gomes, chief executive of Chevron said. “Bangladesh is a huge […]
CSE to change methodology to calculate price multiples
May 04, 2016 (LBO) – Sri Lanka’s Colombo Stock Exchange (CSE) said it would use quarterly earnings to calculate price multiples from May 3, 2016. The new method would use quarterly earnings instead of sourcing earnings from the annual results and calculating the price-to-earnings (P/E) ratio, price-to-book value ratio (P/BV) and dividend yield (DY)., a […]
No reason to keep exporter’s money abroad: Central Banker
Apr 28, 2016 (LBO) – Sri Lankan exporters do not have a clear reason to keep their money abroad as the Central Bank has already removed restrictions on foreign currency withdrawals from foreign currency accounts, a senior official said. Deputy Governor of the Central Bank Nandalal Weerasinghe speaking at an event said the exporters will […]
Sri Lankans named in Panama Papers expected in May
Apr. 27, 2016 (LBO) – The International Consortium of Investigative Journalists said they will release on May 9th a searchable database with information on more than 200,000 offshore entities that are part of the Panama Papers investigation. The data comes from the Panamanian law firm Mossack Fonseca, one of the top players in the offshore […]
Swedish Foreign Minister, companies meet Sri Lankan businesses
Apr 26, 2016 (LBO) – Swedish Foreign Minister Margot Wallström met Sri Lankan government and business representatives together with representatives of several top Swedish companies at a discussion on cooperation for sustainable urban development on Monday. Swedish companies such as ABB, Axis Communications, Ericsson, Icomera, Saab, Scania and Volvo were represented, while officials of several […]