Category: Companies
John Keells Holdings ranked as Sri Lanka’s Most Respected Entity for 14th year
John Keells Holdings PLC (JKH) was ranked as the Most Respected entity in Sri Lanka for a record 14th year, in the recently released edition of LMD’s Most Respected entities issue. In terms of the 10 attribute rankings, JKH has taken the lead in seven categories, namely financial performance, management profile, honesty, dynamism, corporate culture, […]
Commercial Bank blocks sale of MTD Walkers (KAPI) to Ravi Wijeratne
October 8, 2019 (LBO) – Colombo Stock Exchange (CSE) listed construction firm MTD Walkers (KAPI), in a stock exchange disclosure, informed the marketplace that they have received an order from the Commercial High Courts of Colombo. The order enjoined the company, or its holding company MTD Capital Bhd, from going through with an earlier disclosed […]
Softlogic Capital to raise Rs1.5Bn
Oct 08, 2019 (LBO) – Softlogic Capital PLC has decided to raise Rs 1,500 million through a debenture issue, a statement said. Soflogic Capital said in a Colombo Stock Exchange filing that it will issue 15,000,000 listed, rated, senior, unsecured, redeemable debentures, at a price of 100 rupees each, subject to necessary regulatory approvals.
Sri Lankan bank lending rate cap may not support loan growth : Fitch
Oct 07, 2019 (LBO) – The lending rate cap recently imposed by the Central Bank of Sri Lanka (CBSL) on rupee-denominated loans extended by Sri Lankan banks may not improve loan growth in the short term, Fitch Ratings says. To the extent banks cannot price for risk in order to make hurdle rates of return, […]
LankaPropertyWeb partners with HNB for Home Loan Products
LankaPropertyweb.com (LPW), Sri Lanka’s premier property site, recently tied up with Hatton National Bank (HNB) to offer its customers a range of home loan products. Through this expansion of services, LPW seeks to minimize the hassle buyers undergo in order to secure a credit facility to make a property purchase. Available through the LPW website, […]
MODSIT to fast track German investments in Sri Lanka
Oct 04, 2019 (LBO) – The Ministry of Development Strategies and International Trade (MODSIT) and the Board of Investment of Sri Lanka held an interactive meeting titled the German Sri Lankan Fast Track Dialogue with the German investor community, to address any issues faced by investors from Germany currently operating in Sri Lanka. The German […]
Mahindra bets big on Sri Lanka
Mahindra & Mahindra Ltd., a part of the US $20.7 billion Mahindra Group, emphasized the importance of Srilanka as a key strategic growth market in the company’s overall global growth strategy. With the recent inauguration of its 1st automotive assembly plant, the company is now fully equipped to deliver products customised to local needs, on […]
First Capital anticipates Sri Lanka ASPI to reach 6,000 by Dec 2019 & 6,500 by Jun 2020
Oct 04, 2019 (LBO) – First Capital Research expects the equity market to adopt an upward trajectory over the next 12 months as they expect the ASPI to reach the next stage of the market cycle “Hope” stage and the Optimism stage. With the expected uptrend, the research firm targets ASPI to reach 6,000 by […]
Access Engineering buys warehouse -logistics firm for Rs.925Mn
Oct 03, 2019 (LBO) – Access Engineering PLC has bought 100 percent stake of WUS Logistics Ltd. The shares were bought at for 925 million rupees, the company said in a stock exchange filing. “W.U.S. Logistics owns a land of 41.5 acres in Kimbulapitiya to be used for warehousing purposes,” it added.
Sri Lanka tea prices down in first nine months of 2019
Oct 03, 2019 (LBO) – All elevations show a negative variance January-September 2019 compared with January-September 2018 and high growns show the largest deficit of Rs. 63.37 YOY, a report shows. National average for the month of September 2019 totalled Rs. 511.31 compared with Rs. 506.86 of August 2019 showing a marginal increase of Rs. 04.42 month […]
Sri Lanka Govt allows internal flight operation for foreign airlines
Oct 02, 2019 (LBO) – The Sri Lanka govenments cabinet of ministers has given the nod for foreign airlines to operate domestic flights, a statement said. Sri Lanka’s civil aviation authority will issue one year operating licenses to foreign airlines that are interested in flying within Sri Lanka, the state information office said in a […]
MTD Walkers (KAPI) loses another billion, equity wiped out
October 2, 2019 (LBO) – Embattled construction firm MTD Walkers (KAPI) has reported a loss for the June quarter of approximately Rs1bn, and its equity base has been almost completely wiped out. Trading in the CSE listed KAPI has been halted for some time as the company has been in violation of regulatory guidelines and […]