Category: Companies
Sri Lanka is one of the fastest growing markets in South Asia says Huawei
Sep 29, 2015 (LBO) – As Sri Lanka is one of the fastest growing market in South Asia in smart phone segment of Chinese mobile maker, Huawei, says it plans to expand the market share though increasing distribution network targeting a revenue of 10 billion rupees by 2016. “Sri Lanka has grown to be one […]
Sri Lanka wants holding company structure for public enterprises: Governor
Sept 29, 2015 (LBO) – Sri Lanka’s government is looking at setting up a holding company which will own equity stakes in public enterprises, the central bank governor said. The aim here is to improve good governance and restructure under-performing ones, he said. “The government wants to evolve a holding company which will own equity […]
Sri Lanka JKH’s Cinnamon Life has 40 pct of residential tower prebooked: Official
Sep 23, 2015 (LBO) – Sri Lanka’s blue-chip John Keells Holdings said that its 850 million US dollar mixed development project “Cinnamon Life” has already started selling apartments in its integrated resort under the concept of live, work and play. “We call it a city-within-a-city which will have office space, shopping, dining, entertainment, playing area, apartment and […]
ICRA Lanka assigns BBB+ rating with stable outlook to Dunamis Capital
Sep 22, 2015 (LBO) – ICRA Lanka Limited has assigned the Issuer rating of BBB+ with a stable outlook to Dunamis Capital. ICRA Lanka has also assigned the [SL]BBB+ (pronounced SL Triple B plus) rating to the existing LKR 1,000 Mn Senior Unsecured Redeemable Debenture programme and the proposed LKR 1,000 Mn Senior Unsecured Redeemable […]
Sri Lanka’s LOLC Finance to get a new CEO
Sep 21, 2015 (LBO) – Sri Lanka’s LOLC finance, a subsidy of Lanka Orix Leasing Company appointed Ashan Nissanka as its chief executive, the company said in a stock exchange filing.He will be taking the new office from 15th October this year.Nissanka has a masters degree from Edith Cowan University, Australia and is a member […]
Alibaba falls below IPO price in New York Stock Exchange
Sep 18, 2015 (LBO) – The Chinese e-commerce giant Alibaba’s shares in the New York Stock Exchange have fallen below its initial offering price. Twelve months ago, Alibaba’s IPO priced at 68 US dollars, raised 21.8 billion US dollars for the company and made it the biggest IPO in US history. The share surged more […]
Sri Lanka’s Commercial Bank to explore Maldives expansion
Sep 18, 2015 (LBO) – Sri Lanka’s Commercial Bank of Ceylon is planning on setting up a banking subsidiary in the Republic of Maldives in partnership with a Maldivian company, the bank said in a stock exchange filing.“We are delighted to receive a licence to operate a fully-fledged banking subsidiary in the Maldives,” Commercial Bank’s Managing […]
Sri Lanka’s government to extend Colombo port city agreement
Sep 17, 2015 (LBO) – Sri Lanka’s cabinet has approved extending the much talked Colombo port city development project agreement for further six months, the government said.The agreement signed between the government and the relevant project company, CHEC Port City Colombo (Pvt) Ltd, on 16th of September 2014 expired on 15th of this month. The […]
‘s MTD Walkers to sell Rs3.0bn in listed debt
Sep 17, 2015 (LBO) – Sri Lanka’s construction and engineering sector player MTD Walkers is planning to sell 3.0 billion rupees of listed debt, the Colombo Stock Exchange said.The CSE said it had approved an application by MTD Walkers to offer 25 million debentures of 100 rupees each and a further 5 million if the first […]
Sri Lanka Planters Association says tea industry might survive with new pay model
Sep 15, 2015 (LBO) – Sri Lanka’s Planters Association says that tea industry, which is in a revenue crisis, might have a chance to survive if its new productivity-linked wage model presented to employees is accepted by them.“The employers’ ability to pay is a very important and critically fundamental aspect when labour wages are negotiated,” […]
Fitch Withdraws Rating on Ceylon Income Fund; Ceylon Asset Management responds
Sep 14,2015 (LBO) – Fitch Ratings said it has withdrawn Ceylon Income Fund’s National Fund Credit Quality Rating of A(lka)’ saying there is no National Volatility Rating assigned to the fund, which is managed by Ceylon Asset Management.Following the Securities and Exchange Commission of Sri Lanka not renewing the license of Lanka Rating Agency (LRA), in July 2015, […]
ICRA Lanka assigns A-(Stable) rating to First Capital Treasuries
Sep 14, 2015 (LBO) – ICRA Lanka has assigned the Issuer rating of [SL] A- with stable outlook to First Capital Treasuries Limited. The rating agency has also assigned the [SL] BBB+ rating with stable outlook to the 500 million rupees Subordinated Unsecured redeemable Debenture programme of the company. The full text of the rating; […]