Category: Companies
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 […]
‘s Dialog Axiata at AAA(lka); outlook stable
Fitch Ratings has affirmed the National Long-Term Rating on Sri Lanka-based telecoms company Dialog Axiata PLC at ‘AAA(lka)’. The Outlook is Stable. KEY RATING DRIVERS Mobile-Market Leader: Dialog’s Standalone Credit Profile (SCP) of ‘aaa(lka)’ is underpinned by its market leadership in the expanding mobile and pay-TV segments. We believe Dialog will continue to gain revenue […]
Asia Securities reiterates view of no sovereign default; swap conclusion a confidence booster
In a report issued today, the research arm of leading independent Investment Banking firm Asia Securities, reiterated that it does not see a risk of sovereign default at this point. The eagerly anticipated announcement of the USD 1.5bn currency swap agreement with China this week is expected to provide a significant boost to local and […]
Prime Residencies offers luxury apartments to customers
Prime Land Residencies Ltd, the condominium property arm of the maestro of real estate artistry in Sri Lanka, Prime Group, recently celebrated a milestone achievement upon the completion of its 35th property project. With 5 more projects nearing completion and yet another 5 more awaiting launch, the completion and handing over of 35 properties to anticipating residents has […]
LSEG announces successful completion of All-Share Acquisition, Refinitiv
LSEG (London Stock Exchange Group) and Refinitiv have combined to become a leading global financial markets infrastructure and data provider. LSEG and Refinitiv have long provided important services and products to the market: the data and analytics used every day to make important decisions; the tools to fight financial crime; the execution venues used to […]
JAT Holdings appoints Devaka Cooray and Priyanthi Pieris to its Board of Directors
JAT Holdings, Sri Lanka’s trusted leader of material required to the Construction and Furnishing Industry, announced the appointment of two renowned industry professionals, Mr. Devaka Cooray and Mrs. Priyanthi Pieris, to its already elite Board of Directors. This appointment further strengthens the balance of the JAT Board by increasing the ratio of independent Directors to […]
Opinion: Insurance industry looks at Bionic Insuring in a ‘new normal’
By Chilman Jain, Principal, BCG – Prateek Roongta, Managing Director and Partner, BCG – Pranay Mehrotra, Managing Director and Senior Partner, BCG COVID-19 has disrupted most businesses globally and the insurance industry is no exception. Given the restrictions imposed by the pandemic, insurers have been compelled to accelerate their digital journeys and holistically digitize their […]
PAYable surpasses Rs.15Bn in transactions on platform
PAYable (Pvt) Ltd., Sri Lanka’s cashless payment solution provider, announced that it has processed 15 billion rupees in transactions on its platform to date. Commenting on the milestone, Yohan Wijesiriwardane, CEO and Co-founder of PAYable Sri Lanka said, “PAYable entering the cashless ecosystem in 2016 was a gamechanger; we disrupted the existing status, empowering MSME […]
‘s proposed senior debt
Fitch Ratings has withdrawn Seylan Bank PLC’s ‘A(lka)(EXP)’ expected rating, assigned on 21 August 2020, for its proposed senior debenture issuance. Fitch is withdrawing Seylan’s senior debt expected rating as it is no longer expected to convert to a final rating. We do not expect Seylan’s forthcoming senior debt issuance to proceed as previously envisaged. […]