Category: Companies
B2B meeting to boost Sri Lankan exports of fruits & vegetables to Oman
Sri Lanka Embassy in Oman jointly with the Sri Lanka Export Development Board, organised a virtual B2B meeting between Carrefour Oman and eight prominent Sri Lankan fruits and vegetables exporter companies, to boost Sri Lankan exports of varieties of fruits and vegetables to Carrefour Oman hypermarket chain which has more than 12 outlets in the […]
WB says as SL should focus on competitiveness and debt sustainability to ensure resilient rebound
Despite the heavy toll of the COVID-19 pandemic on Sri Lanka’s economy and the lives of its people, the economy will recover in 2021, though challenges remain, says the latest World Bank Sri Lanka Development Update: Economic and Poverty Impact of COVID-19 released today. The Sri Lanka Development Update (SLDU) notes that the country, hit with an unprecedented economic […]
Prime Lands Residencies expected to make IPO bid soon
Prime Lands Residencies (Pvt) Ltd, the condominium property arm of Prime Group, recently celebrated a milestone achievement upon the completion of its 35th property project. Issuing a statement to mark this occasion the firm says it will be making it’s Initial Public Offering (IPO) in the near future. This development, the company says will certainly […]
Aitken Spence acquires Waltrim Energy for Rs.900Mn
Aitken Spence PLC has acquired 100 percent of shares of Waltrim Energy Limited, a sub-subsidiary of Sunshine Holdings PLC, for a total consideration of 900 million rupees, a company statement said. The company in a stock exchange filing by Aitken Spence, Waltrim Energy operates three hydropower generation plants in Nuwara Eliya, with a total capacity […]
”; Outlook stable
Fitch Ratings has affirmed Sri Lanka-based consumer and healthcare company Hemas Holdings PLC’s National Long-Term Rating at ‘AAA(lka)’ with a Stable Outlook. The affirmation reflects the defensive nature of Hemas’ operating cash flows stemming from its pharmaceutical trading and manufacturing, and fast-moving consumer goods (FMCG) businesses, which account for more than 90% of the group’s […]
From mine to market – showcasing Sri Lanka’s jewellery legacy to the world
The Sri Lanka Gem and Jewellery Association (SLGJA) hosted their second Key Person’s Forum for the industry recently, with the objective of facilitating the industry during this pandemic period and boosting overall tourism in collaboration with the Ministry of Tourism. The forum was conducted with Prasanna Ranatunga, State Minister of Tourism, Lohan Ratwatte, State Minister […]
Vidullanka to restructure operations; amalgamate its subsidiary Walagamba Balashakthi
Vidullanka PLC has resolved to amalgamate its fully owned subsidiary, Walagamba Balashakthi (Pvt) Limited with Vidullanka PLC, the company said in a stock exchange filing. The amalgamation is to be carried out without any consideration, and as per the provisions of section 242 (short form amalgamation) of the Company’s Act. Presently, Walagamba Balashakthi (Pvt) Limited […]
Material Sector – The Scavengers of Recovery
Softlogic Research, in its most recent publication, took a very strong stance on the Material sector, predicting a strong growth backed by economic recovery and the renewable energy drive. Digging deeper into the trickle-down effects of core economic policies such as protectionism and economic stimulus, the publication deals with the potential benefits of such policies […]
CSE approves the first Empower Board listing
The Colombo Stock Exchange (CSE) has approved, an application submitted by Chrissworld Limited, for the listing of its Ordinary Voting Shares by way of an offer for subscription on the Empower Board of the CSE. The company will be Offering for Subscription of Seven Million Five Hundred Thousand (7,500,000) Ordinary Voting Shares at LKR 7.50 […]
SANASA Development Bank to raise capital via a Secondary Public Offering
SANASA Development Bank has resolved to raise capital through the issuance of new Ordinary Voting Shares to the public via a Secondary Public Offering (SPO), the bank said in a stock exchange filing. The SPO under consideration constitutes of an invitation to the public, by way of a Prospectus, to subscribe up to Sixty Eight […]
CBB sets sights on enhanced SL-UK trade with British Chambers of Commerce
The Council for Business with Britain (CBB) is now a member of the British Chambers of Commerce and marked this collaboration with an open networking event. The virtual gathering titled ‘The Power of a Global Network’ gave CBB members and other businesses across Sri Lanka a platform to connect with over 50 Regional Chambers of […]
Veemansa Initiative webinar to discuss new developments at Colombo Port City
Asia’s newest landscape, the Colombo port city, is to be launched as a special economic zone under the aegis of the Colombo Port City Economic Commission. The scope, incentive structure and the institutional setup of this special economic zone which was gazetted recently will be the theme of the webinar of “Asia’s Newest Landscape” which […]