Category: Companies
Hemas reasserts its agility with a strong quarter performance
Hemas Holdings PLC (HHL) delivered another strong quarter of results driven by its commitment to serve its customers in the core segments, Home and Personal Care (HPC) and Healthcare amidst the outbreak of the second wave of COVID-19 pandemic and the resultant localised lockdowns within the Western Province and suburbs. Continued focus on working capital […]
SEC and CSE meet with Stockbrokers to discuss current status of stock market
The Securities and Exchange Commission of Sri Lanka together with the Colombo Stock Exchange on Thursday held a discussion with the stockbroker firms on the current status of the stock market. Full statement issued by SEC The Securities and Exchange Commission of Sri Lanka (SEC) together with the Colombo Stock Exchange (CSE) met the CEO’s […]
Eco-Spindles breaks ground on new polyester yarn facility
Aims to double polyester yarn production by 2022 2,300 tonnes of waste plastic bottles recycled in 2019/20 Targeting export demand for recycled polyester fabrics Pioneering Sri Lankan plastic bottle recycler and manufacturer of polyester yarn and monofilaments, Eco-Spindles (Pvt.) Ltd commenced Phase 2 of its expansion strategy to add 20,000 sq.ft of production space […]
SLT Group’s operating profit for 4Q 2020 grew by 27-pct, revenue recorded at Rs. 24Bn
Sri Lanka Telecom PLC (SLT) Group concluded financial year 2020 on a high note, with a significant 25% YoY growth in profit after tax to Rs. 7.9 Bn, despite many challenges faced by the Group arising from the COVID-19 pandemic. Group revenue climbed to Rs. 91.1 Bn for the year with a 6% YoY growth, […]
People trust robots more than themselves with money
Research shows growing confidence among consumers and business leaders that robots handle finance tasks better than people 2020 has changed our relationship with money and people now trust robots more than themselves to manage their finances, according to a new study by Oracle and personal finance expert Farnoosh Torabi. The study of more than 9,000 […]
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Fitch Ratings has assigned Hatton National Bank PLC’s (HNB, AA-(lka)/Stable) proposed Sri Lanka rupee-denominated Basel III-compliant subordinated debentures an expected National Long-Term Rating of ‘A(EXP)(lka)’. The notes will total LKR7 billion, mature in 10 years and include a non-viability clause. The bank plans to use the proceeds to refinance the debentures maturing in 2021, to […]
Sampath Bank partners with John Keells Properties’ TRI-ZEN on Home Financing Solutions
Sampath Bank entered into a strategic alliance with TRI-ZEN, a premium smart living project being developed in Union Place, Colombo by John Keells Properties in partnership with Indra Traders that shares the Bank’s penchant for innovation. Building on its longstanding relationship with the John Keells Group and Indra Traders, Sampath Bank seeks to partner with […]
Driving growth-bridging deficits – outlook 2021 report of Ceylon Chamber
The Ceylon Chamber of Commerce launched its annual Outlook Report for 2021, at the Economy and Sector Review and Outlook 2021 webinar recently. The Outlook 2021 report published by the Economic Intelligence Unit (EIU) of the Ceylon Chamber of Commerce (CCC) explores the macroeconomic and sector outlook for the year ahead. The theme for the report […]
Sri Lanka on positive and steady path for economic recovery, says Cabraal
Feb 08, 2021 (LBO) – State Minister of Finance, Capital Markets, and State Enterprise Reforms Ajith Nivard Cabral says Sri Lanka is on track now to enacting an effective economic recovery to swiftly close the gap between pre and post-COVID-19 output losses. He says the island’s growth prospects are now positive, underscored by a stabilizing currency and sound debt […]
CMTA warns, beware of surging frauds in used-vehicle market
The Ceylon Motor Traders Association (CMTA), Sri Lanka’s automotive association has raised concerns over the heavily persistent fraudulent acts associated with Sri Lanka’s used-vehicle market. The association states that the vehicle customers fall prey to a number of frauds including odometer frauds, vehicles restored with counterfeit spare parts and vehicles with forged documents. Due to […]
JKH and HEMAS consumer collaborate to battle plastic pollution
Plasticcycle, the Social Entrepreneurship Project of the John Keells Group is pleased to onboard Hemas Consumer, in its bin placement initiative targeted towards encouraging responsible disposal of recyclable plastic waste, adding to the existing network of over 190 Plasticcycle bins in Sri Lanka. The agreement between the two parties was signed on the on 5th […]
First Capital Holdings PLC’s LKR 2 Bn debenture issue snapped up on opening day
The Listed, Rated, Unsecured, Senior, Redeemable Debenture Issue of First Capital Holdings PLC with a tenure of 5 years was successfully oversubscribed on the opening day 1st February 2021. First Capital Holdings PLC having received a substantial number of applications, decided to exercise the option of increasing the issue up to LKR 2 billion. Commenting […]