Category: Companies
Central Bank to impose withdrawal restrictions for deposits of The Finance Company
Feb 15, 2019 (LBO) – Sri Lanka’s Central Bank has proposed regulatory measures including suspension of accepting new deposits, restrictions on withdrawal of deposits and restricting disbursement of loans and advances to facilitate the restructuring process of The Finance Company (TFC). The Monetary Board at its recent meeting, having considered the weak financial performances of […]
EU opposes death penalty; €2.2bn exports under GSP+ from June 2017 – May 2018
Feb 15, 2019 (LBO) – The European Union (EU) has reiterated its opposition to the use of the death penalty in all circumstances and encouraged Sri Lanka to maintain its moratorium on executions with a view to abolishing the death penalty. The EU and Sri Lanka held their 22nd meeting of the Joint Commission yesterday […]
‘s Access Engineering records Rs.1.6Bn PAT for nine months
Feb 13, 2019 (LBO) – Access Engineering PLC, releasing its interim financial statements for the nine months December, 31 2018 said the company has recorded an impressive after tax profit of 1.66 billion rupees at Group level with a YoY increase of 43 percent. For the quarter ended December 31, 2018 the Group recorded a […]
Hayleys records third quarter PBT of Rs.1.7Bn
Feb 12, 2019 (LBO) – Sri Lankan multinational, Hayleys PLC, recorded a strong all-round performance in the third quarter of 2018 (3Q18), as the Group turnover rose by 20 percent Year-on-Year( YoY) to 59.7 billion rupees bn, resulting in a sharp 80 percent YoY increase in Group’s Earnings Before Interest, Tax, Depreciation and Amortisation ( […]
Central Bank clarifies issues on sale of ETI Finance Ltd
Feb 12, 2019 (LBO) – Sri Lanka’s Central Bank says it has come to the notice of the Bank that some misinformation is circulating pertaining to ETI Finance Ltd (ETIF) disposing its subsidiaries, sub-subsidiaries and investment properties, and the involvement of CBSL therein. With regard to the said transaction, CBSL wishes to clarify the following: […]
Hemas 3Q profits up 50-pct primarily driven by seasonal demand for Atlas
Feb 08, 2019 (LBO) – Profit attributable to the equity holders of Hemas Group has reported a 50 percent growth primarily due to the strong performance at Atlas, during the third quarter. The quarter recorded a revenue and operating profit of 18.0 billion rupees and 1.9 billion rupees, a YoY growth of 46.8 percent and 92.6 […]
UK based Flexicare sings up with BOI to manufacture disposable medical devices in Sri Lanka
Feb 08, 2019 (LBO) – Flexicare (Group) Limited, a UK manufacturer has gained BOI approvals to begin laying the foundation for its newest state of the art manufacturing facility in Sri Lanka. The project which will be located in Bandaragama is expected to represent an investment in excess of U$10,000,000 over the course of the […]
Teejay reports 9-month net profit of Rs 1.26Bn
Feb 08, 2019 (LBO) – Teejay Lanka PLC has achieved its fifth consecutive quarter of top and bottom line growth in the third quarter of 2018-19, demonstrating its resilience during a period of higher raw material and utility costs. Reporting revenue of Rs 23.0 billion for the nine months ending 31st December 2018, a growth […]
SEC charges a person before Magistrate for failing to appear when summoned
Feb 07, 2019 (LBO) – Securities and Exchange Commission of Sri Lanka has charged a person named Vidanalage Juvenal Aruna Melan Soysa at Fort Magistrate Court on 25th January 2019. The person has been charged for not appearing before the SEC when he was summoned to record a statement with respect to certain transactions that […]
Haycarb records turnover of Rs.14.3Bn for 9 months ending Dec
Feb 07, 2019 (LBO) – Sri Lankan multinational Haycarb PLC reported revenue of Rs. 14.3 billion and profit before tax of Rs. 854 million for the nine months ending 31st December 2018. The profit after tax stood at Rs. 672 million. Haycarb PLC Managing Director, Rajitha Kariyawasan said that the growth in turnover is attributable to […]
BOI inks 4 agreements for Hotel, Fabric manufacture and warehousing and logistics
Feb 07, 2019 (LBO) – Sri Lanka’s Board of Investment signed agreements for 4 new projects recently. The companies representatives signed the agreements with the BOI. Representing the BOI was Ms. Champika Malalgoda, Director General of the Board of Investment of Sri Lanka. One of the Agreement signed was with Arihara Lanka Dream Company (Private) […]
Commercial Bank enables online payment of Ports Authority charges
Feb 06, 2019 (LBO) – Commercial Bank of Ceylon has added the Sri Lanka Ports Authority to its online banking platform, enabling customers to pay their Ports Authority charges in respect to their shipping requirements from anywhere, anytime. To use this online payment option, customers have to key in their 14 digit invoice number issued […]