Category: Companies

June 05, 2009 (LBO) – Sri Lanka’s Hemas Holdings said group net profit fell 31.7 percent to 775 million rupees in the 2008-09 financial year from a year ago largely owing to start-up losses and finance costs of new investments.Group revenue rose 8.3 percent to 15.3 billion rupees in the financial year ended March 31, […]

April 16, 3009 (LBO) – Sri Lanka’s John Keells Holdings (JKH) has extended the deadline for shareholders of Union Assurance, in which it gained full control after buying out Carsons Cumberbatch, the other main shareholder.JKH said the offer was extended due to public holidays over the local New Year holiday season which falls in April. […]

Mar 04, 2009 (LBO) – Sri Lanka’s Lion Breweries December quarter profits have taken a hit from increased finance costs on loans taken to raise fresh capital and secure their 22.5 percent stake in Indian brewer, South Asian Breweries (SAB), analysts said. However, when a preference dividend of 32.8 million rupees is deducted, Lion Breweries […]

Dec 31, 2008 (LBO) – Sri Lanka has repaid 175 million US dollars in commercial loans, involving Citibank and India’s ICICI Bank, and raised only 150 million dollars in new loans, in 2008, the government’s debt office said.A 100 million US dollar syndicated loan arranged by Citibank in 2005, a balance 25 million US dollar […]

Dec 03, 2008 (LBO) – Sri Lanka’s Seylan Bank is seeking at least 400 million rupees through a 5-year debenture issue that offers annual interest rates as high as 21.5 percent with an option to raise a further 600 million rupees. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send […]

Sept 25, 2008 (LBO) –Sri Lanka’s John Keells Holdings (JKH) said it would give back 2.2 billion rupees to shareholders through a buy back of one share for every 25 held at 90 rupees. The shares are being bought back above the market price. JKH closed at 86.25 rupees on Wednesday. The firm sold rights […]

Sept 25, 2008 (LBO) – Sri Lanka’s state-run National Savings Bank (NSB) is raising a 100 million US dollar one-year loan with Citibank Sri Lanka with the deal to be wrapped up by mid-October, an official said. To recieve instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The NSB […]

July 21, 2008 (LBO) – Sri Lanka’s Janashakthi Insurance began trading at the Colombo bourse Monday at 13.50 rupees, above its issue price of 12.00, dealers said. Property rich Association Electrical was up 50 rupees to 1,200, The Finance was down 1.00 rupee at 49.00 rupees, John Keells Holdings up 25 cents at 104.75 in […]

April 17, 2008 (LBO) “Global Telecommunication Holdings (GTH), a Netherlands incorporated unit through which Malaysia’s UT group is trying to acquire control of Sri Lanka Telecom, has raised its stake in the telco, brokers said Thursday. GTH bought over 6.7 million shares of SLT at 49 rupees per share Thursday, CT Smith Stockbrokers, which bought […]

March 5, 2008 (LBO) – Standard Chartered and Deutsche Bank has won a deal to raise up to 300 million dollars for Sri Lanka, priced 259 to 370 basis points above London benchmark rates, the government’s debt office said. . Standard Chartered has been mandated to raise 150 million dollars and go up to a […]

Feb 25, 2008 (LBO) – Credit rating agency Lanka Ratings was re-branded as RAM Ratings (Lanka) Limited following a reorganization of its Malaysian parent company RAM Holdings Berhad, Monday. RAM Holdings, an affiliate of the world’s largest ratings agency Standard and Poor’s (S&P), plans to expand regionally following the re-branding process. Suresh Menon, executive director […]