Category: Companies
Sri Lanka’s John Keells Hotels profits flat in September quarter
Oct 30, 2015 (LBO) – Sri Lankan hotel operator, John Keells Hotels Plc’s profits increased by only 2 percent to 350 million rupees in the September quarter 2015 despite a tourism boom in the Island, interim accounts showed. Earnings per share was flat at 24 cents per share for the quarter. The company’s revenue also increased […]
Browns Capital invest Rs407mn in Sri Lanka’s solar power plant
Oct 29, 2015 (LBO) – Browns Capital PLC had invested 407 million rupees in Saga Solar power private limited who are in the business of solar power to acquire a 50.10 percent equity, the company said in a filing to Colombo Stock Exchange.The firm said it bought 38.7 million shares of Saga Solar Power, who […]
Sri Lanka Watawala Plantation profits up; palm oil supports bottom-line
Oct 28, 2015 (LBO) – Sri Lanka’s Watawala Plantations said it made a profit of 141 million rupees in the September 2015 quarter, up 354 percent, compared with 31 million rupees in the same quarter last year, supported by palm oil segment. The firm reported earnings of 55 cents per share for the quarter, the […]
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Oct 26,2015 (LBO) – Fitch Ratings has assigned Sri Lanka’s Sampath Bank PLC’s Base lI-compliant subordinated debentures of up to seven billion rupees , a final National Long-Term Rating of ‘A(lka)’.The final rating is the same as the expected rating assigned on 9 October 2015, and follows the receipt of documents conforming to information already received, the rating […]
India’s Sandal Lands mulls USD 25 mn FDI on Sri Lanka’s real estate
Oct 26, 2015 (LBO) – Sandal Lands (Pvt) Ltd of India said they are in talks with Sri Lanka’s urban development agency to seek opportunities to invest up to 25 million US dollars in residential or commercial property, looking at the strong growth prospects in island’s real estate market. The company plans to invest up […]
Janashakthi seals AIA’s general insurance business acquisition
Oct 26, 2015 (LBO) – Sri Lanka’s Janashakthi Insurance PLC said that it sealed the acquisition of AIA General Insurance Lanka Limited with 3.2 billion rupee payment. With the financial aspects of the transaction now complete, Janashakthi will commence amalgamation of AIA General Insurance Lanka Limited with Janashakthi General Insurance Limited, the company said.“In line […]
Dividend tracker improves equity insights: SC Securities
Oct 24, 2015 (LBO) – Sri Lanka's SC Securities believes divided tracking is one way of gaining insights into equity performance in stocks listed on the Colombo Stock Exchange, especially with regard to past dividend payouts. In a report on 15 stocks, SC Securities shows how investors can track past dividend payouts. National Development Bank, […]
Uber arrives in Sri Lanka
Oct 22, 2015 (LBO) – Uber, a global ride sharing company in over 340 cities in 60 countries, launched in Sri Lanka, a statement said. “At Uber, every city that we launch outperforms its predecessor and we expect nothing less from Colombo. In fact, for months now, we know that demand for Uber has been […]
Sri Lanka’s Finlays unit to delist
Oct 21, 2015 (LBO) – Sri Lanka’s Finlays, a tea exporter said it plans to delist its ordinary shares from the Colombo Stock Exchange, a statement said. “James Finlay of Swire House, London will302 rupees a share,” the company said in a stock exchange filing. The decision is subject to regulatory approval. The Company’s shares […]
Dialog, BOI in Rs24 bn investment to improve ICT infrastructure
Oct 21, 2015 (LBO) – Dialog Axiata Plc entered into an agreement with Board of Investment of Sri Lanka to invest 25.6 billion rupees or 175 million US dollars to improve the island’s ICT infrastructure, the company said in a filing to the Colombo Stock Exchange.The investment agreements span a broad scope of ICT infrastructure […]
Worker wages with revenue share is only solution: Plantation Companies
Oct 21, 2015 (LBO) – Sri Lanka Regional Plantation Companies (RPCs) have come up with a model for the pressing wage problem of plantation workers and recommend a revenue sharing model for remuneration, a statement said. “The revenue sharing model is now clearly the only viable, mutually beneficial and sustainable solution for the country’s plantation […]
Sri Lanka’s Vallibel One to go ahead with USD60mn integrated resort project
Oct 21, 2015 (LBO) – The leisure investment arm of Vallibel One, Greener Water limited is to continue with its project to construct a 400-roomed luxury five star resort in Negombo in its 18 acres of freehold land.The company has entered into an agreement with the Board of Investment of Sri Lanka in relation to […]