Category: Companies
Local retail industry: Hardest hit by FOREX crisis calls for solutions
Sri Lanka Retailers Association Retail industry constitutes 23% of the country’s GDP and is hardest hit by the ongoing FOREX crisis The wider eco system of employees, suppliers, farmers and consumers of Sri Lanka impacted by the ongoing crisis and is pushing businesses to the brink of collapse Goods for sale, raw materials and basic […]
Commercial Credit joins hands with Western Union
Commercial Credit and Finance PLC, one of Sri Lanka’s premier non-bank financial institutions, recently joined hands with MMBL Money Master (brand name of MMBL Money Transfer (Pvt) Ltd), a joint venture between Mercantile Merchant Bank and Aitken Spence PLC, the largest representative in Sri Lanka for Western Union money transfers. This timely partnership will enable […]
President presents awards for national industry outstanding performers
The National Industrial Excellence Awards Ceremony was held under the patronage of President Gotabaya Rajapaksa at the Waters Edge in Battaramulla, yesterday (15). The outstanding performers received the Platinum Award from the President at the Awards Ceremony for the categories of best small, medium and large scale manufacturing industries and the best machinery manufacturers. At […]
Aitken Spence reports its highest ever Q3 PBT of Rs. 3 Bn
The leading blue-chip conglomerate, Aitken Spence PLC reported its best ever third quarter (Q3) performance with a Profit-Before-Tax (PBT) of Rs. 3 Bn in Q3 2021-22, a significant turnaround from the third quarter Q3 of the previous year. The Group’s businesses including the tourism sector is showing positive momentum. Across all sectors, the Group’s earnings […]
Ceylon Chamber of Commerce requests Government to reconsider Surcharge Tax Bill
The Ceylon Chamber of Commerce earnestly requests the Government to reconsider some of these provisions before it is submitted for approval by Parliament and extends its support to develop alternative proposals to ensure the revenue targets are met. Full Statement The membership of the Ceylon Chamber of Commerce notes serious concerns on the provisions of […]
24 Sri Lankan companies honoured at 25th SAFA
A total of 24 Sri Lankan companies were honoured for their excellent annual reporting and for also promoting transparency, accountability, and governance in financial reporting at the 25 th Best Presented Annual Report Awards of the South Asian Federation of Accountants (SAFA).The prestigious South Asian awards ceremony was hosted by the Institute of Chartered Accountants […]
Opinion: Sri Lanka needs GSP+ now more than ever
By Felix Fernando Much has been said of the potential economic costs to Sri Lanka, of losing the Generalised Scheme of Preferences (GSP) Plus trade concessions to the European Union (EU). While these costs will be high, the social and human costs are likely to be even greater. Considering official statistics for 2021, available up […]
”; Outlook evolving
Fitch Ratings has downgraded Abans Finance PLC’s National Long-Term Rating to ‘A-(lka)’ from ‘A(lka)’. The Outlook is evolving, a statement said. The rating agency has also downgraded the company’s proposed senior unsecured debt to ‘A- (EXP)(lka)’, from ‘A(EXP)(lka)’. KEY RATING DRIVERS The downgrade follows the downgrade of the National Long-Term Rating of Abans Finance’s parent […]
Opposition SJB opposes imposing 25-pct tax on EPF funds, says Eran
The Opposition is totally opposed to levying a 25% tax on the EPF Fund, said Parliamentarian Eran Wickramaratne at a press conference held at the Opposition Leader’s Office yesterday. “This Government has decided in an unprecedented manner to impose a 25% surcharge on the income of the Employees Provident Fund. EPF has never been taxed […]
Venture Engine shortlists Sri Lanka’s top fundable startups
Venture Engine, Sri Lanka’s pioneering startup acceleration program, has entered the final phase of its tenth edition with the selection of its top 10 grouping of finalists. The program’s next, and final, stage is the showcasing of these finalists to potential investors as “Sri Lanka’s Top Fundable Startups” at the Venture Engine finale, which is […]
RigServ opens global resource centre in SL; Plans to empower local IT sector
Supply chain and technology consulting company, RigServ, recently commenced operations in Sri Lanka via its dedicated Global Resource Centre which employs 50 subject experts in their relevant industrial areas. RigServ offers clients industry expertise as well as data-driven, impartial, and creative solutions to their most difficult situations. RigServ was founded in 2014 by operational and […]
Sunshine Group 9-month revenue up 39-pct driven by Healthcare & Agribusiness sectors
Fueled by strong growth in all business sectors, diversified Sri Lankan conglomerate Sunshine Holdings PLC (CSE: SUN) reported impressive growth in top and bottom-line performances during the first nine months of the current financial year (9MFY22). During this period, the Group posted consolidated revenue of Rs. 24 billion, up by 39% Year-on-Year (YoY).Group’s Profit After […]