Category: Companies
‘ ratings on recalibration; 2 downgrades
Fitch Ratings has revised the National Long-Term Ratings of Sri Lankan financial institutions following the recalibration of the agency’s Sri Lankan national rating scale. The recalibration is to reflect changes in the relative creditworthiness among Sri Lankan issuers following Fitch’s downgrade of the sovereign rating to ‘CCC’ from ‘B-‘/Negative on 27 November 2020. Fitch typically […]
Sunshine Holdings selects IFS ERP platforms for subsidiary companies
IFS, the global enterprise applications company, announces that Sunshine Holdings PLC, a leading conglomerate will roll out a comprehensive enterprise resource planning (ERP) platform from IFS for itself and ten other subsidiary companies, including companies in the healthcare sector, consumer sector (including Watawala and Zesta tea), and renewable energy sector. Having used IFS since 2016, […]
Samp Bank partner with Central Bank to promoting QR payments
Sampath Bank PLC joined hands with the Central Bank of Sri Lanka (CBSL) yet again to raise awareness and increase acceptance and usage of LANKAQR, the common Quick Response (QR) code standard for the country that was introduced in 2020. Encouraging consumers to adopt LANKAQR for their day to day transactions, Sampath Bank held a […]
First Capital Holdings announces LKR 2 Billion Debenture Issue
First Capital Holdings PLC (the Group), intends to raise a sum of LKR 1 billion via a Listed, Rated, Unsecured, Senior, Redeemable Debenture issue with a tenor of 5 years with an option of issuing up to a further LKR 1 billion in the event of an oversubscription. Accordingly, FCH will issue 10 million debentures, […]
Opinion: Extended producer responsibility to help address Sri Lanka’s plastic waste management
By Manjula de Silva, Secretary General and CEO, Ceylon Chamber of Commerce Each year, over 640,000 metric tonnes of plastic leak into the Indian Ocean from Sri Lanka (Clean Cities, Blue Ocean, June 2020). The Western Province alone generates around 7500 metric tons of solid waste every day, out of which only 3500 metric tons are […]
ASPI crosses 8000 points mark; Hayleys announces subdivision of shares
The All Share Price Index (ASPI) of the Colombo Stock Exchange crossed the key psychological mark of 8,000 today gaining 246.80 points to end the day on 8,131.25 points. For the first time in its history, the All Share Price Index has ended a trading day above 8,000 points today. The S&P SL20 index which […]
SL vehicle registrations show an increase in Dec 2020: Jan expected to be nil
Jan 21, 2021 (LBO) – Sri Lanka’s vehicle registrations for the month of December show an increase mainly due to a shifting of registrations from the month of November, a new report says. Data compiled by JB Securities equities research shows that total vehicle registrations recorded 4,407 units in the month of Dec up from 2,868 […]
SL explores bilateral trade with Philippines
The Embassy of Sri Lanka in Manila initiated a virtual introductory meeting between the State Trading Corporation of Sri Lanka (STC) and the Philippine International Trading Corporation (PITC) on 13 January 2021 to discuss opportunities for mutually-beneficial trade engagements between Sri Lanka and the Philippines. Ambassador Shobini Gunasekera, in her welcome remarks, enjoined the two […]
”; outlook stable
Fitch Ratings has affirmed Sir Lanka Telecom PLC’s (SLT) National Long-Term Rating at ‘AA-(Ika)’. The Outlook is Stable. We have also affirmed the ‘AA-(Ika)’ national rating on the company’s LKR7 billion of senior unsecured debt. SLT’s ratings are constrained by the sovereign’s ratings as per Fitch’s Government-Related Entities Rating Criteria, as the state holds a […]
SEC welcomes market performance; low bank interest rates attract local investors to CSE
The Securities and Exchange Commission of Sri Lanka (SEC) welcomes the record-breaking performance of the Colombo Stock Exchange (CSE). Bloomberg has identified the CSE as the second best performing equity market in the world. On 15th January 2021, the CSE saw 61,722 trades which is the highest number of trades ever in a single day […]
RPCs lay out final proposal to remunerate workers Rs. 1105 per day
In a meeting today between the Minster of Labour Hon. Nimal Siripala de Silva and the Chairmen of all Sri Lankan Regional Plantation Companies (RPCs), a final proposal has been submitted towards ensuring a sustainable earnings model for the sector. This proposal takes into consideration the sustainability of both the industry and livelihoods of plantation […]
Buying apartments the right way: 3 things to be mindful of
By Lanka Proprty Web From vertical living to multi-storied houses and ancestral homes in the countryside, housing has evolved throughout the years in different ways in different countries. The industrialized nations are branching out their vertical living styles to higher stories, while in the developing world housing is growing larger in width. In Sri Lanka, […]