Companies

Sri Lanka Kalpitiya Beach Resort says new plan on track

Sep 02, 2015 (LBO) – Sri Lanka’s troubled Kalpitiya Beach Resort, a subsidiary of Citrus Leisure PLC which blamed the former government for not developing …

Coca Cola Sri Lanka resumes operations, will pay compensation: CEA

Sept 01, 2015 (LBO) – The environmental protection license of Coca Cola’s Sri Lanka unit has been reinstated after the company addresed the oil seepage …

Nestle Lanka continues Rs 10bn investment plan; to comply with listing rule

Sep 01, 2015 (LBO) – Nestlé Lanka, a unit of the Swiss-based food group, said they would continue to invest in infrastructure, brands and people as part of …

ICRA Lanka assigns BBB- rating for Sanasa Development Bank

Sep 01, 2015 (LBO) – ICRA Lanka Limited, a wholly owned subsidiary of ICRA Ltd, a group company of Moody’s Investors Service has assigned the Issuer rating …

Colombo City Center on track, 54 pct apartments booked: Abans

Sep 01, 2015 (LBO) – Sri Lanka’s Abans group says their joint venture Colombo City Center, which began with a 150 million dollar investment, is on track …

Coca Cola Sri Lanka license suspended until it addresses contamination: CEA

Aug 31, 2015 (LBO) – The environmental protection license of Coca Cola’s Sri Lanka unit will remain suspended until the company responds to an oil …

Sri Lanka Volkswagen deal needs transparency: Motor Traders’ Chief

Aug 31, 2015 (LBO) – The assembly plant investment by the German automaker Volkswagen in Sri Lanka needs to be transparent and all other motor companies who …

DFCC Vardhana Bank shareholders approve amalgamation with DFCC

Aug 28, 2015 (LBO) – Shareholders of DFCC Vardhana Bank and DFCC Bank have approved the proposed amalgamation of DFCC Bank with DFCC Vardhana Bank at …

Sri Lanka’s Heladiv to go after Chinese and Indian markets

Aug 28, 2015 (LBO) – Sri Lanka’s HVA foods, which exports ready to drink tea under its “Heladiv” brand, says the company plans to expand more in to …

Ceylon Printers to raise Rs30mn through rights issue

Aug 28, 2015 (LBO) – Sri Lanka’s stationery merchants and printing firm, Ceylon Printers, is to raise 30 million rupees by way of a rights issue, the …

Ceylon Asset Management replies to Fitch on income fund rating

Aug 27, August (LBO) – Ceylon Asset Management, commenting on the Fitch Rating press release which maintained the A (lka) credit quality rating of the …

US markets rally, appears to shake off China worries

Aug 27, 2015 (LBO) – US markets rallied on Wednesday appearing to shake off fears about China, but all eyes will be once again on the Shanghai Composite …

CHC mandatory offer for Taprobane Holdings

Aug 26, 2015 (LBO) – Sri Lanka’s CHC Investment will be making a mandatory offer to shareholders of financial services firm Taprobane Holdings after it …

Sri Lanka tea exporters to see a silver lining in dark cloud soon: Heladiv Chief

Aug 26, 2015 (LBO) – Sri Lanka’s tea exports will see positive signs in the market in near future with prospects of a settlement to the long drawn …

Lanka IOC Q1 profit falls with lower oil prices

Aug 25, 2015 (LBO) – Fuel retailer Lanka IOC said profits in the three months to June fell to 171 million rupees from 1.2 billion rupees in the same …

Sri Lanka’s Fitch rates HDFC Bank at BBB

Aug 24, 2015 (LBO) – Sri Lanka’s Fitch Ratings on Monday assigned Housing Development Finance Corporation Bank of Sri Lanka a National Long-Term Rating of …

Sri Lanka’s CHC Investment buys 31-pct stake in Taprobane Holdings

Aug 24, 2015 (LBO) – Sri Lanka’s C H C Investment has bought a 31 percent stake in the diversified Taprobane Holdings at 5.50 rupees, a statement said. …

Asia Capital Q1 loss lower at Rs92 million

Aug 21, 2015 (LBO) – Sri Lanka’s financial services firm Asia Capital PLC reported a loss of 92 million rupees for the first quarter to June, down from …