Category: Economy and Markets
Sunshine Packaging receives USD2mn foreign capital infusion
May 27, 2016 (LBO) – Sri Lanka’s Sunshine Packaging, a subsidiary of listed Sunshine Holdings, have been infused equity capital of 2 million US dollars by a Hong Kong company called Primeco Holdings. Sunshine Packaging Lanka said in a stock exchange filing that they have agreed to issue 23,766,671 new shares amounting to 40 percent […]
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. […]
Sri Lankan rupee forwards trade weaker on importer dollar demand
May 26 (Reuters) – Sri Lankan rupee forwards fell on Thursday due to importer dollar demand and amid apprehension the currency would weaken on a possible increase in government spending after the country’s worst natural disaster since 2004, dealers said. The cost of landslides and floods after days of torrential rains will be between $1.5 […]
PTL Watch: Sri Lanka bond yields dip 10-20 bps
[pdf-embedder url=”http://lbo-stg.efserver.net/wp-content/uploads/2016/05/PTL-Daily-Market-Report-26th-May-20161.pdf”]
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 […]
Honesty and good communication skills are top traits for business leader – Regus Finding
Business people across the globe reported which key traits make a successful business leader and reveal that honesty and the ability to communicate with others are the must-haves in a successful leader’s arsenal. Almost 40,000 business people globally rated a number of qualities and traits to help sketch out the portrait of a good leader […]
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 seeking to borrow USD3.5 bln through foreign debt: Finance Minister
May 25, 2016 (LBO) – Sri Lanka is in the process of borrowing up to 3.5 billion dollars from foreign sources via syndicated loans, sovereign bonds, and sukuk, the country’s finance minister said on Wednesday. The borrowing plan comes as the South Asian nation seeks to fix its precarious balance of payments position after a […]
Sri Lanka’s Dipped Products acquires Italian glove marketer for Rs535mn
May 25, 2016 (LBO) – Dipped Products, a subsidiary of the Hayleys Group, today announced that it acquired the remaining stake of Italian glove marketer Icoguanti SpA for 535 million rupees. With this purchase, Icoguanti, which was a 6O percent owned subsidiary, has now become a wholly owned subsidiary of Dipped Products, the company said […]
PTL Watch: Bonds mixed, mid tenors tick higher
[pdf-embedder url=”http://lbo-stg.efserver.net/wp-content/uploads/2016/05/PTL-Daily-Market-Report-25th-May-20161.pdf”]
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. […]