Category: Companies
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 […]
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 […]