Category: Companies
Startup XpressJobs receives Rs100mn investment from Emerging Media
Jan 20, 2020 (LBO) – Emerging Media, a location-based digital advertising company has invested 100 million rupees in XpressJobs in exchange for a 25 percent stake of the company. The company said in a statement that Emerging Media’s tie with XpressJobs aims to further expand the company’s operational capabilities and also greatly increase visibility for […]
Debt moratorium for SMEs, credit negative for banks, unlikely to support economic recovery
Jan 20, 2020 (LBO) – Sri Lanka’s debt moratorium for SMEs is credit negative for Sri Lankan banks and the sovereign because it risks increasing SMEs’ risk appetite and relaxing their attitude toward debt repayments, Moody’s Investors Service said. In an analysis, the service said that this move, in turn, will undermine banks’ asset quality […]
Milford Ceylon buys 19-pct of Softlogic Life
Jan 17, 2020 (LBO) – Milford Ceylon Pvt Ltd., a Mauritius-based fund yesterday bought a 19 percent stake in Softlogic Life Insurance PLC for Rs.2.6 billion. Shares amounting to 71.25 million shares was acquired at 37.00 rupees each, the company said in a stock exchange filing, Thursday. The seller was DEG or State Street Munich […]
Mobitel & ‘CareerMe’ takes on career guidance for students, teachers and parents
Reiterating its pledge in leading Sri Lanka towards an info com and knowledge rich society, Mobitel, Sri Lanka’s National Mobile Service provider, has partnered with CareerMe, a fully-fledged career guidance app and web platform developed by a local company in partnership with an Australian body, to aid students, teachers, parents and other industry professionals alike […]
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Jan 16, 2020 (LBO) – Fitch Ratings has affirmed SriLankan Airlines Limited’s (SLA) USD175 million government guaranteed 7 percent unsecured bonds due 25 June 2024 at ‘B’. KEY RATING DRIVERS The airline’s bonds are rated at the same level as SLA’s parent, the government of Sri Lanka (B/Negative), due to the unconditional and irrevocable guarantee […]
S&P revises Sri Lanka’s outlook to negative; ratings affirmed at ’B/B’
Jan 16, 2020 (LBO) – Ratings agency Standard & Poor’s said it revised its outlook on Sri Lanka’s credit rating to negative from stable, citing increased risks from a deteriorating fiscal position. “Sri Lanka’s fiscal position deteriorated following the Easter Sunday attacks,” S&P said. “Although a recovery is expected, we expect a widening of the […]
Central Bank issues circular to banks about new credit support scheme for SMEs
Jan 14, 2020 (LBO) – Sri Lanka’s Central Bank says that based on the discussions they had with banks, it is observed that the proposed credit support scheme may not cause an undue level of stress or threaten the stability of the banking system. Issuing a circular, the Central Bank said that all parties have […]
‘s John Keells Holdings
Jan 09, 2020 (LBO) – Institutional brokerage services provider Citigroup Global Markets Ltd has purchased the entire stake from Broga Hill Investments, broker CT CLSA Securities said in a stock exchange filing. Accordingly, Citigroup Global Markets Ltd agency trading prop securities A/C has acquired 141,854,717 shares of JKH, at 160.00 rupees per share, representing 10.76 […]
Broga Hill Investments sells its stake in John Keells Holdings
Jan 09, 2020 (LBO) – Special-purpose investment vehicle of Malaysia’s sovereign wealth fund Khazanah Nasional Berhad, Broga Hill Investments Limited has sold its stake in John Keells Holdings for 22.6 billion rupees. 141,854,717 shares equivalent to 10.8 percent of John Keells Holdings has sold to a foreign buyer today morning at 10.03 am. Broga Hill […]
ICRA Lanka reaffirms long-term & short-term ratings of First Capital Holdings
Jan 09, 2020 (LBO) – ICRA Lanka Limited, subsidiary of ICRA Limited, a group company of Moody’s Investors Service, has reaffirmed the issuer rating of [SL]A- with stable outlook for First Capital Holdings (FCH). ICRA Lanka has also reaffirmed the [SL]A2+ rating for the LKR 1,500Mn commercial paper programme of FCH. ICRA Lanka has also […]
Sri Lanka unemployment up to 5.1-pct in Q3 2019
Jan 08, 2020 (LBO) – T h e n u m b e r o f unemployed persons is estimated as 437,797 or 5.1 percent during the third quarter 2019, latest data show. Overall unemployment rate reported for female is 8.5 percent and 3.3 percent for male, the Sri Lanka Labour Force Survey (LFS) says. […]
LankaPropertyWeb sets up new Property Centre
Jan 08, 2020 (LBO) – Following over a decade of successful operation of helping people find, sell and rent property in Sri Lanka, LankaPropertyWeb.com which has become the most popular place for properties along with House.lk started a new chapter in its journey by establishing a ‘Property Centre (PC)’ in Colombo. In a prime location […]