Category: Featured
Sarvodaya Development Finance IPO oversubscribed on opening day
Sarvodaya Development Finance’s (SDF) Rs. 1 billion Initial Public Offering (IPO) was oversubscribed on the initial opening day, the company secretary said issuing a statement within two hours of the opening. Underwritten by NDB Bank and Sampath Bank, the IPO was aimed at raising Rs. 1 billion, through 45 million ordinary voting shares at a […]
Alliance Finance raises Rs1Bn in subordinate debt to strengthen tier II capital
Alliance Finance Co PLC (AFC) has successfully raised LKR 1 billion in Tier II capital, with the aim of strengthening the regulatory capital of the Company to financially empower and facilitate the development of the Micro, Small and Medium enterprise sector in Sri Lanka. The Tier II Subordinated Debt has a tenure of 5 years […]
Cattle slaughter ban: It’s not intentions but consequences that matter
By Sathya Karunarathne and Pravena Yogendra The cabinet of Ministers approved the Bill to amend laws to ban cattle slaughter in the third week of October. While this is a contentious policy measure, it did not come as a surprise as the Prime Minister proposed the same policy just over a year ago in September […]
ADB to take 8.5-pct stake in JKH via USD80Mn investment
John Keells Holdings PLC (JKH) yesterday announced the Asian Development Bank (ADB) will be taking up a 8.5 percent stake via a private placement with an investment of US 80 million dollars via two phases. JKH said its Board of Directors resolved to raise funds through a private placement for a maximum cumulative amount of […]
Teejay Lanka achieves 81-pct emission reduction from sludge disposal
Invests Rs 90 million in Sri Lanka’s largest steam-powered paddle dryer Reduces GHG emissions by 2,326 tCO2e in one year Sri Lanka’s largest textile manufacturer Teejay Lanka PLC has announced the achievement of an 81 per cent reduction in Greenhouse Gas (GHG) emissions from the disposal of sludge waste, after one year of sustained operation […]
INSEE cement enters MoU with State Ministry of Home Affairs
INSEE Cement entered into a Memorandum of Understanding (MoU) with the State Ministry of Home Affairs today, to enhance knowledge of modern engineering techniques and best practices of 25 District Engineers belonging to the Engineering Division of the State Ministry over a period of one year. The MoU was signed between INSEE and the State […]
Sri Lanka@100 opens new application round for advisory services
Sri Lanka@100, a private sector-led business development platform supported by the United States Agency for International Development (USAID), announces its third round of applications for mid-market companies looking for business advisory services to accelerate revenue growth, optimize internal operations, access new markets, and attract smart capital. Mid-market firms registered as companies in Sri Lanka with […]
Resilience in diversity: Financing nature and biodiversity
2021, a pivotal year for people and the planet. Greece, Turkey and California were aflame in heatwave induced wildfires, Canada was caught under a heat dome and a year’s worth of rain poured over Germany, Belgium, China and Sudan within a couple of days- devastating communities with floods in its wake. The message is clear, […]
New Kelani Bridge construction completed by Advantis Projects and Engineering
Advantis Projects and Engineering, a subsidiary of Hayleys Advantis Limited, has successfully completed its share of construction work on the New Kelani Bridge project. Amounting to one of the largest infrastructure development projects in the country in recent times, the New Kelani Bridge consists of the single largest suspension bridge and the longest elevated steel […]
eChannelling Q3 financial performance sets foundation for growth: Records 116-pct growth YOY
eChannelling PLC, the largest Channelling Network in Sri Lanka and a subsidiary of SLT-MOBITEL, is gearing towards a quantum leap with acquisitions, expansion plans, partnerships and product innovation to further uplift the nation’s digital lifestyle experience. Supporting this trajectory is eChannelling’s strong Q3 performance, forming a firm foundation for its strategic relaunch and future growth. […]
Teejay Lanka consolidates in Q2 to post 6-month revenue of Rs 23.1Bn
Topline grows 71% on higher demand for fabric Net profit improves by 59% to Rs 954.1 million for 1H Teejay Lanka PLC has built on its robust first quarter performance in Q2 of 2021-22, helped by strong demand for fabric from strategic customers due to the changing dynamics of the global market, increased capacities and […]
Hemas Group revenue up 19.8-pct over last year
Hemas Holdings PLC (HHL) delivered a strong first half amidst a challenging operating environment with half of the second quarter being under island wide lockdown. The cumulative Group revenue stood at Rs.36.2 billion, an increase of 19.8 per cent over last year. During the quarter under review, an unprecedented level of input cost inflation and […]