Category: Companies
Sri Lanka to host upcoming Asia Pacific Retailers Conference and Exhibition 2024
The Sri Lanka Retailers Association (SLRA), which serves as the foremost organization for organized retail in Sri Lanka, recently played host to the eagerly awaited Federation of Asia- Pacific Retailers Association (FAPRA) Head of Delegations Meeting. This significant event took place at the prestigious Cinnamon Grand Colombo. A pivotal point of discussion during the FAPRA […]
Sri Lanka’s Mobile Network Performance Lags Behind in South Asia: Analysis
In a recent analysis by Opensignal, which examined the mobile network experiences of smartphone users across the six most populated countries in South Asia, Sri Lanka’s performance was found to be lacking compared to its regional counterparts. The study, which included Afghanistan, Bangladesh, India, Nepal, Pakistan, and Sri Lanka, revealed significant disparities across the region. […]
PUCSL electricity tariff revision discriminatory: Advocata
Electricity tariff design must meet two main objectives: firstly, raising the money needed to pay for the costs of provision, and secondly, sending the right economic signals to each customer to favour the optimal socio-economic use of electricity. To achieve the above objectives the principles that must be followed when designing tariffs are; Economic sustainability […]
‘s real estate market trends
In a significant stride towards fostering transparency and informed decision-making within South Asia’s real estate landscape, the Research Intelligence Unit (RIUNIT) unveiled a series of reports during the 8th Islamic Finance Forum of South Asia, held on recently at the Shangri-La hotel in Colombo. These reports provide a holistic view of the real estate markets […]
Opinion: Reforming tax incentive structure in Sri Lanka
The second tranche of the International Monetary Fund’s (IMF) Extended Fund Facility (EFF) was delayed as the country failed to meet some of the program targets including the government revenue target. This prompted the IMF in their latest review to reiterate the need to “strengthen tax administration, remove tax exemptions, and actively eliminate tax evasion” […]
CDS signs Agreement with LankaPay Online Payment Platform
The Central Depository Systems (CDS), a fully owned subsidiary of the Colombo Stock Exchange (CSE), recently signed an agreement with LankaPay, Sri Lanka’s National Payment Network, joining its Online Payment Platformto develop an innovative payment platform to facilitate a seamless and a secure payment experience for investors. The new payment platform promises to transform how […]
”; Outlook Stable
Fitch Ratings has affirmed the National Long- Term Ratings of Sri Lanka-based conglomerate Melstacorp PLC and its subsidiary, Distilleries Company of Sri Lanka PLC (DIST), at ‘AAA(lka)’. The Outlook is Stable. Fitch equalises the rating of DIST, which has a stronger credit profile than its parent Melstacorp, to the consolidated profile of its parent, based […]
Imperative for SOE Reforms in focus at Sri Lanka Economic Summit 2023
The second session of the Sri Lanka Economic Summit 2023 titled ‘SOE Reforms – Now or Never’ will focus on the imperative for SOE reforms, sharing invaluable insights into the ongoing SOE reforms and their potential impact on economic growth. The session will center around a deep dive into the transformation of large SOEs, their […]
”’, Removes RWN
Fitch Ratings has downgraded Sri Lanka-based Senkadagala Finance PLC’s (Senka) National Long-Term Rating to ‘BBB(lka)’ from ‘BBB+(lka)’. The Outlook is Stable. Fitch has also downgraded Senka’s subordinated debt rating to ‘BB+(lka)’ from ‘BBB-(lka)’, and removed the Rating Watch Negative (RWN) from all of Senka’s ratings. KEY RATING DRIVERS Weakened Asset Quality Drives Downgrade: Senka’s exposure […]
CSE creates awareness on Regulated Short Selling (RSS) through Stock Borrowing and Lending (SBL)
The Colombo Stock Exchange (CSE) conducted a series of virtual workshops and intends to continue more workshops on Regulated Short Selling (RSS) through Stock Borrowing and Lending (SBL), creating awareness on the two features to diverse groups of individuals. The virtual workshops are being conducted in Sinhala, English and Tamil with the intention of reaching […]
Privatisation is the need of the hour:Advocata
“At the interim budget last year, a list of SOEs reforms were provided to be restructured. 14 months later nothing has changed even in one SOE.”- Prof. Rohan Samarajiva, a policy expert and an advisor of the Advocata Institute. He made these comments at Advocata’s press briefing, organised to highlight the urgency of carrying out […]
‘ ratings; off RWN; Outlooks stable
Fitch Ratings has affirmed the support-driven National Long-Term Ratings of four Sri Lankan bank subsidiary finance and leasing companies (FLCs). The Outlooks are Stable. The four FLCs are: CBC Finance LTD (CBCF) at ‘BBB+(lka)’; HNB Finance PLC (HNBF) at ‘BBB+(lka)’; Siyapatha Finance PLC at ‘BBB+(lka)’; and UB Finance PLC (UBF) at ‘BB(lka)’. At the same […]