Category: Companies
INSEE Cement’s 360-degree approach eases cement shortage in Sri Lanka
Uninterrupted supply through comprehensive production, imports and logistics optimization reaps positive results Operating at maximum production capacity with optimized distribution channels for a number of weeks, INSEE Cement has successfully helped to mitigate the cement shortage that was prevailing in the local market. INSEE Cement’s concentrated and immediate contingency measures across its entire operation at […]
Anjelo Simmons – Chief Dealer at First Capital Treasuries in conversation with LBO
With the First Capital Treasuries’ (FCT) Initial Public Offering opening on Monday the 6th of December, Lanka Business Online (LBO) spoke to Anjelo Simmons, the Chief Dealer at FCT to find out what makes the company a unique investment opportunity. Given the ongoing positive momentum centred around the Colombo Stock Exchange (CSE) and propelled by […]
INSEE Cement signs MOU with Hambantota Port to improve supply chain efficiency
The Hambantota International Port Group (HIPG) today signed an agreement with INSEE Cement, the leading cement manufacturing company in Sri Lanka, to ensure the efficient transfer of raw materials to their factory in Galle, via the Hambantota Port. This will have a positive impact on the operational efficiency. The agreement was signed between Gustavo Navarro, […]
First Capital Treasuries Apprises Stakeholders of Upcoming IPO
One of Sri Lanka’s leading non-bank primary dealers, First Capital Treasuries PLC, a subsidiary of the Janashakthi Group’s First Capital Holdings PLC hosted prospective investors, industry partners, media representatives and members of the public at an investor forum on its upcoming Initial Public Offering (IPO). First Capital Treasuries released the official prospectus for the IPO […]
“Dark future looming as foreign reserve drop to USD 1.5Bn, lowest in history” Eran
The opposition alleged in Parliament that foreign reserves have dropped to US 1.5 billion dollars which included the gold reserves of US 300 million dollars. The Govt. did not refute the opposition claim that the available cash reserve was only USD 1.5 billion less than one month’s import payment, lowest in history. He told a […]
Policy interventions require that may be unpopular, says President at Export Awards
President Gotabaya Rajapaksa said that in the future too many unpopular decisions will have to be taken to overcome the global economic challenges and to keep the country on the path to prosperity. Even though the people criticized these interventions, the country and the people would reap the benefits in the near future, the President […]
National consensus on structural reforms needed to get out of economic crisis: Advocata
Sri Lanka is already in one of the worst economic crises in its history. The reforms are so difficult that no party will want to even contemplate let alone implement them fearing loss of popularity. The longer reforms are postponed, the worse the problem becomes which makes remedies even more difficult to implement. The only […]
Sri Lanka’s budget proposals weigh on insurers’ near-term earnings:Fitch
The Sri Lankan government’s proposal to introduce new one-off as well as recurring taxes on companies will likely constrain the near-term profitability of some insurers, Fitch Ratings says. However, we expect the proposals to have only a limited impact on most insurers’ capital positions because of their sound capital buffers accumulated before and during the […]
Sarvodaya Development Finance IPO oversubscribed on opening day
Sarvodaya Development Finance’s (SDF) Rs. 1 billion Initial Public Offering (IPO) was oversubscribed on the initial opening day, the company secretary said issuing a statement within two hours of the opening. Underwritten by NDB Bank and Sampath Bank, the IPO was aimed at raising Rs. 1 billion, through 45 million ordinary voting shares at a […]
Alliance Finance raises Rs1Bn in subordinate debt to strengthen tier II capital
Alliance Finance Co PLC (AFC) has successfully raised LKR 1 billion in Tier II capital, with the aim of strengthening the regulatory capital of the Company to financially empower and facilitate the development of the Micro, Small and Medium enterprise sector in Sri Lanka. The Tier II Subordinated Debt has a tenure of 5 years […]
ADB to take 8.5-pct stake in JKH via USD80Mn investment
John Keells Holdings PLC (JKH) yesterday announced the Asian Development Bank (ADB) will be taking up a 8.5 percent stake via a private placement with an investment of US 80 million dollars via two phases. JKH said its Board of Directors resolved to raise funds through a private placement for a maximum cumulative amount of […]
Teejay Lanka achieves 81-pct emission reduction from sludge disposal
Invests Rs 90 million in Sri Lanka’s largest steam-powered paddle dryer Reduces GHG emissions by 2,326 tCO2e in one year Sri Lanka’s largest textile manufacturer Teejay Lanka PLC has announced the achievement of an 81 per cent reduction in Greenhouse Gas (GHG) emissions from the disposal of sludge waste, after one year of sustained operation […]