Category: Markets

Mar 06, 2015 (LBO) – Sri Lanka’s Softlogic Capital on Friday obtained the shareholder approval to reduce its stated capital, a statement said.The decision has been made at an extraordinary general meeting which eventually intends to reduce the accumulated losses of the company. According to a previous statement issued by the company, the amount of […]

Mar 04, 2015 (LBO) – Sri Lanka’s guardian Acuity Asset Management, a fund management firm launched a mutual fund invested in risk free government securities which will provide investors to enter and exit easily as a bank deposit, officials said. “It is purely invested in government securities and is therefore meant for investors who have […]

Mar 02, 2015 (LBO) – Sri Lanka’s National Development Bank PLC’s proposed senior debentures of up to 7.5 billion rupees which will be used to refinance maturing multilateral funding has been rated an expected National Long-Term Rating of ‘AA-(lka)(EXP)’ by Fitch rating Lanka, a media release said. The debentures which will have a tenor of […]

Mar 02, 2015 (LBO) – Sri Lanka’s construction sector is a key area of interest for Turkish companies scouting for investment opportunities, Turkey ambassador to Colombo Iskender Okyay said.“Many Turkish companies are interested in Lankan infrastructure projects, amongst them are some leading Turkish firms,” said Ambassador Okyay. “Specially, Turkey is internationally reputed for its construction […]

Feb 27, 2015 (LBO) – Sri Lanka’s market leader in alcoholic beverage production Distilleries Corporation of Sri Lanka (DIST) would be able to expand its market share due to the large monthly tax imposed on liquor manufactures which ultimately discourages new players and smaller players, a rating agency said. Sri Lanka’s new administration proposed a […]

Feb 26, 2015 (LBO) – Sri Lanka, Hayleys PLC’s issue of 20,000,000 senior unsecured listed redeemable rated debentures was oversubscribed today receiving applications for over two billion rupees, the company said in a filing to the stock exchange. The company issued 20, 00,000 debt at 100 rupees each. The issue would be closed at 4.30 […]

Feb 20, 2015 (LBO) –The new government had to revisit the ‘deemed Value Added Tax’ where it was asked by the new administration to pay tax on ‘VAT-exempt’ items such as vegetables, seafood and rice by limiting the ability of companies to reclaim taxes, Sri Lanka’s Cargills Food City Chief Ranjith Page said in Colombo […]

Feb 19, 2015 (LBO) – Sri Lanka, Hayleys PLC, which has interests in export manufacturing, power, leisure and plantations to issue senior unsecured listed redeemable rated debentures of 20,000,000, the company said in a stock exchange announcement.The company said that the Colombo Stock Exchange has approved in principal an application for listing the debt securities […]

Feb 19, 2015 (LBO) – Fitch Ratings has assigned Singer Finance PLC’s proposed listed senior secured debentures of up to 1.5 billion rupees an Expected National Long-Term rating of ‘BBB (lka) (EXP)’, the rating agency said in a statement.The proposed issuance is expected to have a tenor of five years with a fixed-rate coupon which […]

Feb 19, 2015 (LBO) – Sri Lanka’s Port City project has not been stopped yet and is still being looked into, Prime Minister Ranil Wickremesinghe told parliament yesterday. “We have not yet decided to stop this project but we are examining all the details of this agreement,” Prime Minister Ranil Wickremesinghe said in a statement. […]