Category: Companies
US-based Blackstone Group acquires 56.5-pct of Piramal Glass
US-based private equity major Blackstone Group has acquired a 56.5 percent stake of Piramal Glass Ceylon PLC. The acquisition price implies a total enterprise value of 13.9 billion rupees for the target company. Asia Securities Advisors (Pvt) Ltd. acted as the buy-side advisor and Asia Securities (Pvt) Ltd acted as the executing stockbroker to the […]
Dialog Axiata’s Genie reaches Rs.10Bn worth transactions by 2021
Powered by Dialog Axiata PLC (“Dialog”), Genie, Sri Lanka’s first PCI-DSS-certified payment app has cemented a major milestone moment on its journey in establishing itself as the biggest payment processing network in Sri Lanka through the achievement of over Rs. 10 billion worth transactions. With more and more customers falling reliant on smart devices, Genie […]
CEAT Kelani announces 125-pct increase truck bus radial tyre production
Phase 1 to see production increase of 65% Phase 2 to increase capacity by 125% by June CEAT Kelani Holdings has announced another significant increase in production that will more than double the number of Truck Bus Radial (TBR) tyres reaching the domestic market by June this year, further supporting the national effort to reduce […]
CBL Investments Limited wins ‘Best Corporate Citizen Sustainability Award 2020’
CBL Investments Limited (CBL Group) won the coveted ‘Best Corporate Citizen Sustainability Awards 2020 (BCCS Awards)’ at an annual event organized by the Ceylon Chamber of Commerce, the country’s premier business chamber to recognise sustainable champions of the local corporate world, while Aitken Spence PLC and Commercial Bank of Ceylon PLC became the first and […]
Sri Lanka vehicle registrations marginally up in Jan 2021
Total Vehicle registrations recorded 3,558 units in Feb marginally up from 3,256 units in Jan but significantly down from 31,402 units 12 months ago, a new report shows. “The main contributor for the increase was a higher number of hand tractors, a category that is not under an import ban and an uptick from locally […]
Project Company welcomes Cabinet approval to establish SEZ at Port City
The approval was granted at the cabinet meeting held on the 04th January 2021 to establish the Colombo Port City Special Economic Zone which will be an International business and services hub with specialized infrastructure facilities. Port City investor company, CHEC Port City Colombo (Pvt) Ltd. welcomes the Government’s move and expects this initiative will […]
EFL 3PL becomes first GDP Certified 3PL Service Provider for its pharmaceutical supply chain
EFL 3PL, a member of the leading conglomerate Expolanka Holdings PLC, was certified by Bureau Veritas as a ‘GDP certified 3PL service provider’ for its pharmaceutical supply chain, thereby making them the first logistics company in Sri Lanka to obtain this certification. This internationally reputed certification cements the company’s new focus on expanding its pharma […]
Ceylon Chamber of Commerce marks 182 years
Governor Stewart Mackenzie, initiated the establishing of the Ceylon Chamber of Commerce on 25 March 1839, for the purpose of best promoting the interests of commerce. It was among the first group of chambers established in Asia at the time. Governor Mackenzie who was deeply interested in promoting Agriculture and Trade adopted the rules and […]
SLTDA approves Bolagala floating agro tourism resort in Katana
Bolagala Floating Agro Tourism Resort in Katana located close to the Negombo tourism hub will be the newest addition to the inventory of unique experiences for tourists visiting Sri Lanka. This is the first-ever floating resort in Sri Lanka created adopting an agro-tourism theme consists of 50 floating cabanas, including 10 GPS tracker equipped cabanas that could […]
”; Outlook stable
Fitch Ratings has affirmed Sri Lanka-based consumer-durable retailer Abans PLC’s National Long-Term Rating at ‘AA(lka)’. The Outlook is Stable. Fitch has simultaneously affirmed the ‘AA(lka)’ rating on Abans’ outstanding senior unsecured debentures and the ‘F1+(lka)’ National Short-Term Rating on its commercial paper. The affirmation reflects our expectations that the healthy performance of Abans’ core operations […]
CEAT ups radial production by 72,000, exceeding half a million tyres per year
CEAT Kelani Holdings has announced that it has increased production of Passenger Car Radial (PCR/Van) tyres by 72,000 tyres a year, adding 16 per cent to its annual capacity in this category, as part of its expansion plan to support government efforts to conserve foreign exchange through domestic production. This first phase of the planned […]
Kingslake to support GRI’s next phase of growth: Increase rubber exports
Global Rubber Industries (Pvt) Ltd. has partnered with Kingslake, Sri Lanka’s manufacturing solutions experts, to lay the foundation for its next phase of growth. By leveraging Kingslake’s Advanced Planning and Scheduling (APS) solutions, the country’s leading manufacturer of specialized tires hopes to make a significant contribution to the rubber industry, a key export of the […]