Category: Companies
Financial results of Sampath Bank for Q1 of 2021
The Bank recorded a Profit before tax (PBT) of Rs 6.1 Bn in 1Q 2021 compared to Rs 3 Bn in 1Q 2020, denoting a growth of 101%, while Profit after tax (PAT) increased by 83% to Rs 4.6 Bn from Rs 2.5 Bn recorded in the first quarter of 2020. Resilient performance of all […]
Widespread informality likely to slow recovery from COVID-19 in developing economies
A strikingly large percentage of workers and firms operate outside the line of sight of governments in emerging market and developing economies (EMDEs)—a challenge that is likely to hold back the recovery in these economies unless governments adopt a comprehensive set of policies to address the drawbacks of the informal sector, a new World Bank […]
Prime Residencies IPO oversubscribed on opening day
Following the debut of Prime Lands Residencies’ Initial Public Offering (IPO) yesterday (11), the company’s oversubscription forecasts proved to be true as the initial 100 million shares were purchased in record time. The Board of Directors have decided to exercise the option to issue up to a maximum of a further 87.5 million shares as […]
Melstacorp Chairman Harry Jayawardena visits Colombo Port City
Leading businessman Harry Jayawardena of Melstacorp PLC was recently hosted at the Port City Colombo project development site by Executive Project Management Director, Raja Edirisuriya. Jayawardena, who has held many prestigious titles in his years of service to the country, was able to view first-hand the progress and impact of Port City Colombo on Sri […]
Opinion:Today’s CFO is the protector of tomorrow’s business resilience
By Sherman Gunatillake With market uncertainty and disruptions across different business verticals christened as the ‘New Normal’, the chief financial officer (CFO) of the modern-day has many elements to balance across the business. In such a context, strengthening business resilience is a crucial responsibility that a CFO has on his agenda. But has a CFO’s […]
Rizing acquires attune Lanka from MAS Holdings
MAS Holdings announced today, that in line with its long-term strategic objectives, it has concluded the acquisition of its subsidiary attune Lanka (Private) Limited by Rizing. Rizing is a privately held, US-based boutique firm specializing in providing SAP solutions for Consumer Industries, Enterprise Asset Management and Human Capital Management worldwide. In 2018, MAS Holdings completed […]
”; Outlook stable
Fitch Ratings has affirmed Sri-Lanka based footwear and tire manufacturer and retailer DSI Samson Group (Private) Limited (DSG) at ‘AA(lka)’. The Outlook is Stable. The affirmation and Stable Outlook reflect Fitch’s belief that DSG will maintain sufficient liquidity and healthy operating performance in the next one to two years such that its leverage and fixed-charge […]
China backed Port City missing link for SL to become game changer; no threat to sovereignty
The Colombo Port City, one of Sri Lanka’s most significant projects with tremendous potential has to go forward in the right direction as a game-changer for the island and the proposed draft legislation is the missing link, a senior official said. Multiple petitions were filed in the Supreme Court last week by Opposition parties, civil […]
ComBank raises interest rate on ‘FC Plus’ foreign currency accounts to 4.5-pct per annum
The Commercial Bank of Ceylon has announced a significant increase in the interest rate offered to Sri Lankan Personal Foreign Currency (PFC) account holders, via the Bank’s ‘FC Plus’ account. Individuals who open an FC Plus foreign currency account at Commercial Bank will be eligible to receive an interest rate of 4.5% per annum for […]
Prime Lands Residencies Limited debuts IPO
Prime Lands Residencies Limited the condominium property arm of the of real estate artistry in Sri Lanka, Prime Group, recently debuted its Initial Public Offering (IPO) Proposition. Through the past 25 years of the Prime Group journey, this feat is certainly a remarkable milestone for both the company and the real estate industry of Sri […]
Sri Lanka calls for stronger regional cooperation for building back better from pandemic
Speaking on the theme ‘Building back better from crises through regional cooperation in Asia and the Pacific’ Prime Minister Mahinda Rajapaksa at the inauguration of the 77th Session of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) outlined Sri Lanka’s successful approach in controlling the COVID-19 and called for renewed “South-South” […]
Citizen or Not: Process and concerns of buying property in Sri Lanka as an expat
By Lanka Property Web With the recent changes in the law welcoming expat Sri Lankans to purchase property in the country, LankaPropertyWeb interviewed Attorney at Law Saminda Jayasekara regarding the feasibility of this option and the barriers to overcome in the process. As a local, there are no restrictions on purchasing property in the country. […]