Category: Markets
Ethics crucial to business, says SEC Chairman Karunaratne
June 03, 2016 (LBO) – Ethics is crucial to business in the context of redefining our social order, Thilak Karunaratne, the chairman of Sri Lanka’s Securities and Exchange Commission said, speaking to the Junior Chamber International Biz Meet. It is imperative that we “redefine the current social order and revitalize our actions and thoughts in […]
SL Funds: Equity Unit Trusts now outperform market, says Guardian Acuity
May 27, 2016 (LBO) – There’s good news in fund management. Most of the professionally managed funds that invest in the Colombo market tend to outperform the market. In 2014, for instance, the Guardian Acuity Equity Fund, gave a return of 37.9 percent, compared with the All Share Price Index (ASPI) which rallied 23.4 percent. […]
Possible misappropriation of Rights Issue funds in Blue Diamonds: E&Y
May 26, 2016 (LBO) – The Securities and Exchange Commission of Sri Lanka has been informed that several irregularities in Blue Diamonds may point to the possible misappropriation of Rights Issue funds. The Ernst & Young which conducted a special purpose independent audit on an agreed upon procedure has revealed the possible commission of one […]
Sri Lanka’s John Keells Holdings net down 13-pct in 4Q, revenues flat
May 26, 2016 (LBO) – Sri Lanka’s diversified John Keells Holdings group net profits fell 13 percent to 4.5 billion rupees in the March 2016 quarter from a year earlier with flat revenues, the interim accounts showed. The firm reported basic earnings of 3.80 rupees per share for the quarter against 4.58 rupees reported a year […]
Sri Lanka’s Hayleys net up 49-pct in March 2016 quarter
May 25, 2016 (LBO) – Profits at Sri Lanka’s diversified Hayleys group surged 49 percent to 1.3 billion rupees in the March 2016 quarter amid strong net income growth, interim accounts showed. The group reported earnings of 17.57 rupees per share for the quarter, up from 11.83 rupees per share from a year earlier. Group […]
Sri Lanka’s John Keells Holdings to subdivide ordinary shares
May 24, 2016 (LBO) – Sri Lanka’s diversified John Keells Holdings has decided to subdivide ordinary shares of the company while making an adjustment to its warrants. The company said in a stock exchange filing, the directors have recommended a share subdivision where by every seven existing ordinary shares will be subdivided to eight ordinary shares. […]
Ravi K says Japan agrees USD2.5bn development loan to Sri Lanka
May 19, 2016 (LBO) – Finance Minister Ravi Karunanayake told Parliament Thursday that Japan has agreed to provide about 2.5 billion US dollars worth development policy loan to Sri Lanka. This has been revealed yesterday when Japanese Prime Minister Shinzo Abe’s Special Representative Hiroto Izumi called on Prime Minster Ranil Wickremesinghe, Finance Minister said.“Mr. Izumi also […]
Sri Lanka’s Hayleys to raise Rs2bn in listed debt
May 17, 2016 (LBO) – Diversified Hayleys Plc is planning to raise as much as 2 billion rupees from a sale of debentures which will be quoted on the Colombo Stock Exchange. The stock exchange said the company wanted to sell up to 20 million debentures at 100 rupees each. Capital Alliance Partners and People’s […]
Equity crowdfunding soon for average investors in US
May 13, 2016 (LBO) – This month the U.S. Securities and Exchange Commission will begin implementing equity crowdfunding for the average investor. This will allow small companies to directly raise debt or equity capital from friends, family, and interested investors. It’s the final piece of landmark legislation called the Jumpstart Our Business Startups Act, popularly […]
SEC imposes restrictions on Entrust Capital Markets activities
May 09, 2016 (LBO) – Sri Lanka’s securities regulator has imposed several restrictions on Entrust Capital Markets (Pvt) Ltd (ECMPL) following regulatory concerns on the activities of the broker firm. The Securities and Exchange Commission in a letter has directed the firm that client funds are not withdrawn except with the prior written approval of […]
Sri Lanka to raise USD500 mln through syndicated loan: Governor
May 04, 2016 (LBO) – Sri Lanka is planning to raise 500 million dollars through a syndicated loan and terms are being discussed, the Central Bank Governor said. Citi Emirates, NDB, HSBC and Mashreq bank are expected to be mandated to arrange a 3-year term loan that will be repaid in installments, Bloomberg reported citing […]
Chevron plans to expand local and regional presence
May 04, 2016 (LBO) – Chevron Lubricants Lanka said that they have no immediate plans to go to new markets but will focus on growing local and regional presence, a senior official said. “Plans are to grow in the local and two export markets,” Kishu Gomes, chief executive of Chevron said. “Bangladesh is a huge […]