Category: Companies
Sri Lanka exporters protest gazette on repatriation of funds
Apr 25, 2016 (LBO) – Sri Lankan exporters have begun to protest after the Finance Ministry issued a gazette notification requiring the repatriation of funds from exports that are retained abroad. “As part of current policy measures taken to improve the foreign exchange inflows to the country, the Hon. Minister of Finance has issued the […]
Seylan Bank to sell Rs5bn in listed debt
Apr 20, 2016 (LBO) – Seylan Bank will sell up to five billion rupees in listed debt, the bank said in a statement.buy “The Bank’s board has approved to issue three billion rupees of debt with a further option to sell another two 2 billion rupees,” a stock exchange filing said. The debentures will be issued […]
Sri Lanka to re-impose share transaction levy from 15 April
Apr 12, 2016 (LBO) – Sri Lanka will re-impose the share transaction levy at the rate of 0.3 percent from 15 April, 2016, the Colombo Stock Exchange said. The levy would be charged from every buyer and seller on the turnover of every share trading transaction done on the CSE. The share transaction levy was […]
‘s Hilton gets new board
Apr 12, 2016 (LBO) – Krishantha Cooray has been appointed Chairman and Non Executive Director of Hotel Developers Lanka (Hilton Hotel), a statement said. Following Non-Executive Directors too have been appointed: Athula Senanayake, Tehani S. Mathew, Dinouk Colombage, Sonali Liyanamana, Dhanushka R. Samarasinghe and M.Shezmin Manzoor, according to a filing to the Stock Exchange.
Land for Sri Lanka Volkswagen assembly plant secured: BOI
Apr 11, 2016 (LBO) – Sri Lanka’s Board of Investment has helped to secure land for the setting up of a Volkswagen assembly plant, the investment promotion agency said. “Through the successful facilitation by Upul Jayasuriya, chairman of the Board of Investment of Sri Lanka and his officials, working closely with the Ministry of Lands, […]
We don’t want to see companies getting delisted: Securities Regulator
Apr 07, 2016 (LBO) – Sri Lanka’s securities regulator has invited listed companies to send their suggestions on the minimum public float rule as they seem to be struggling meet the rule. Director General of Securities and Exchange Commission Vajira Wijegunawardane speaking at a forum on the minimum public float said they are flexible in […]
Prime Minister and delegation in China to enhance bilateral relations
April 07, 2016 (LBO) – Sri Lankan Prime Minister Ranil Wickremesinghe left for an official visit to China on Wednesday, the Foreign Ministry said. This is Wickremesinghe’s first visit as the prime minister to China since the government of President Maithripala Sirisena was formed in January last year. On the April 6-9 visit, he will […]
Shareholders approve Eden Hotel Lanka rights issue
Apr 06, 2016 (LBO) – Shareholders of Eden Hotel Lanka today approved a resolution on a rights issue of the company which aimed at repaying part of its outstanding debts. The leisure sector player Eden Hotel Lanka said the company is to issue 52.8 million new ordinary shares at 20 rupees each in the ratio of […]
S&P and CSE Sector and Industry Group Indices launched
Apr 06, 2016 (LBO) – S&P Dow Jones Indices, one of the world’s leading index providers, and the Colombo Stock Exchange today jointly announced the launch of the S&P/CSE Sector and Industry Group Indices. The comprehensive index series is designed to measure the performance of various sectors and industry groups within the Sri Lankan equity […]
Sri Lanka govt approves compensation for Rathupaswala victims
Apr 06, 2016 (LBO) – President Maithripala Sirisena has given his approval to provide 4.68 million rupees as compensation for 33 victims of Rathupaswala incident, a statement said. The President will present the compensation money to 24 persons, who are fully disabled or partially disabled or who are admitted to hospitals for treatment in the […]
Sri Lanka technology pioneers to speak at “LBR LBO Enterprise Summit 2016”
Mar 31, 2016 (LBO) – Despite being a developing country, Sri Lanka has created a number of technology leaders and innovators of international repute. When we consider that basic infrastructure is lacking in some parts of the island, this is a contradiction. And yet, Sri Lankans are familiar with this contradiction. Pioneers such as Kris […]
Fitch upgrades Hemas Holdings to AA-; outlook stable
Fitch Ratings has upgraded Sri Lanka-based Hemas Holdings PLC’s (Hemas) National Long-Term Rating to ‘AA-(lka)’ from ‘A+(lka)’. The Outlook is Stable. It has also upgraded the National Long-Term Rating on Hemas’s senior unsecured debentures to ‘AA-(lka) from ‘A+(lka)’. The upgrade reflects the company’s improved business risk profile, which is aided by its strong presence in […]