Category: Companies
Dipped Products posts healthy growth: Group pre-tax profit up 32-pct in 2018/9
May 17, 2019 (LBO) – Sri Lanka’s Dipped Products Group pre-tax profit was up 32 percent to 1,643 million rupees in 2018/9, the company said. The Group achieved a profit before tax of 1,643 million rupees for the year ending 31st March 2019, a growth of 32 percent over the previous year. Profit after tax […]
Nedal Salem takes helm of Ceylon Tobacco Company
May 16, 2019 (LBO) – Nedal Salem was appointed managing director andchief executive officer of Ceylon Tobacco Company PLC (CTC) effective 15th May 2019. During his career spanning over two decades at British American Tobacco (BAT), Nedal has held various senior Management roles in nine markets across three continents. He holds a Bachelor of Arts […]
Opinion: Fresh frontiers of pharmaceutical innovation
By Sri Lanka Chamber of Pharmaceutical Industry For centuries, human beings have waged a relentless battle against a litany of diseases that have ravaged countless generations. From early influenza epidemics that decimated towns and villages to devastating pandemics such as the Black Death and AIDS, illness has stood as an eternal adversary to human wellbeing […]
Haycarb 2018/9 turnover Rs.20.9Bn: Raw material cost impacts negatively
May 16, 2019 (LBO) – Haycarb PLC reported revenue of 20.9 billion rupees, profit before tax of 1.35 billion rupees and profit after tax of 1.08 billion rupees for financial year 2018/19. The earnings per share of equity holders of the company increased to 32.16 rupees for the year. The Chairman of Haycarb PLC and […]
Sampath Bank’s Net Interest Income up by 23-pct in Q1 2019
Sampath Bank reported a net interest income of Rs. 10.2 Bn for Q1 2019 reflecting a noteworthy growth of 23.2% over the figure reported in Q1 2018, a significant achievement given the challenging economic conditions that prevailed throughout the period. The bank recorded a profit after tax of Rs. 2.2 Bn, a negative growth over […]
Central Bank extends regulatory action on The Finance Company for another three months
May 15, 2019 (LBO) – Sri Lanka’s Central Bank has decided to extend the regulatory action currently in place on The Finance Company for another three months, in order to consider the business restructuring proposal submitted by the company. Monetary Board of the Central Bank initiated a number of regulatory actions, as temporary measures, on […]
‘s only Dangerous Goods Storage Facility
May 14, 2019 (LBO) – Sri Lanka’s first, and South Asia’s most advanced, Dangerous Goods Storage Facility (DGSF) was commissioned on Friday, 10th May at the Colombo International Container Terminal (CICT) equipping the Port of Colombo with a sophisticated storage yard for cargo classified under the International Maritime Dangerous Goods (IMDG) Code. An investment of […]
Rs.1.36Bn takeover of People’s Merchant Finance by Sterling Capital
May 09, 2019 (LBO) – Sterling Capital Investments has completed a 1.36 billion rupee takeover of People’s Merchant Finance (PMF), a statement said.The take over happened through a private placement of shares and a rights issue giving Sterling Capital a stake of 67.9 percent in People’s Merchant Finance, a company filling at the Colombo Stock Exchange […]
Sri Lanka allows duty free import of security equipment
May 08, 2019 (LBO) – State Minister of Finance Eran Wickramaratne announced the Government has decided to waive of duty on the import of of latest security equipment.“This is a decision taken to help not only travel and tourism but State institutions, private sector, schools and hospitals so that they can strengthen their security after the attacks,” he […]
SriLankan Airlines appoints a new CCO and CFO
May 07, 2019 (LBO) – SriLankan Airlines has appointed Joshua Bustos as its chief commercial officer and Shaminda Samaraweera as its chief financial officer with effect from April this year. Bustos is an internationally experienced senior level airline executive with over 20 years of experience. He has held several key positions in leading organizations including American […]
EFL 3PL looks towards Bots and RPA to stay ahead of logistics game
May 06, 2019 (LBO) – Expolanka Freight (Pvt) Ltd. (EFL), a logistics service provider announced that it has implemented its first wave of transformative Robotic Process Automation (RPA) across all its distribution centers and freeport to support day-to-day operations. Through this move to automate repetitive processes across its portfolio, the country’s most dynamic supply chain […]
‘s ordinary technology, US politicians exaggerated its role: Huawei
May 06, 2019 (LBO) – Huawei Technologies Co. founder Ren Zhengfei recently pointed out that 5G is not that powerful and is just an ordinary technology, whilst United States politicians have exaggerated its role, only to call people’s attention to the 5G technology. “There is basically no Huawei equipment in the US networks. If networks are […]