Category: Companies
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Jan 18, 2019 (LBO) – Fitch Ratings has affirmed SriLankan Airlines Limited’s 175 million US dollars 5.3 percent government guaranteed bonds due 2019. The rating agency, however, said that the rating is not derived from its issuer’s standalone credit profile and is therefore not comparable with that of industry peers.Fitch has rated SriLankan Airlines’s US dollar-denominated […]
JKH buyback fully subscribed, Rs11bn worth of shares to be repurchased at 160
January 16, 2019 (LBO) – Shareholders have tendered approximately one hundred million shares of John Keells Holdings (JKH) into the company’s latest buyback offer. The company will purchase approximately seventy million of the shares tendered at a price of Rs160/share, constituting 5% of the total outstanding shares of the company. JKH will expend Rs11 billion […]
‘s CSCEC named as contractors for TRI-ZEN
Jan 14, 2019 (LBO) – Sri Lanka’s Braybrooke Residential Towers (Pvt) Ltd announced that it had appointed China State Construction Engineering Corporation Ltd (CSCEC) as the contractor for its residential project TRI-ZEN. The culmination of an ambitious joint venture between John Keells Holdings PLC and Indra Traders, the TRI-ZEN project aims to establish a vibrant […]
Deepthie Wickramasuriya joins the Board of Vidullanka PLC
Vidullanka PLC announced the appointment of Ms.Deepthie Wickramasuriya to the Board of Vidullanka PLC as a Non-Executive Independent Director with effect from 01st January 2019. This announcement follows the resignation of Mr. Zulficar Ghouse from the board a day before. In addition to joining the Board of Vidullanka PLC, Ms. Deepthie serves the Board of […]
BOI signs agreement for USD1.8mn warehousing & logistic project in Malwana
Jan 08, 2019 (LBO) – Sri Lanka’s Board of Investment has signed an agreement with Skylift Container Depot and Logistics to set up a facility that would be engaged in warehousing and logistics services with a container depot. This project with a total value of 1.83 million US dollars will be located at Walgama, Malwana […]
‘s Biz Chamber to host 2019 Outlook Seminar
Jan 07, 2019 (LBO) – The Ceylon Chamber of Commerce will organize its annual outlook seminar for 2019 under the theme of ‘Building Resilience Amidst Uncertainty’. The seminar serves as an important opportunity to understand both the outlook for the economy and key sectors in 2019. Dr. Indrajit Coomaraswamy, Governor of the Central Bank of Sri […]
Hayleys Advantis partners with Trustworthy.Ae Group to manage Abu Dhabi container facility
Jan 07, 2019 (LBO) – Hayleys Advantis , the transportation and logistics arm of Hayleys PLC, announced that it has entered into a deal with Dubai-based Trustworthy.ae Group. “Advantis is to operate and manage a state of the art Inland Container Depot (ICD) and third-party Container Freight Station (CFS) being developed by Trustworthy.ae Group in the […]
Financial sector regulators sign MoU for consolidated risk-based supervision
Jan 04, 2019 (LBO) – The Central Bank of Sri Lanka (CBSL) entered into a Memorandum of Understanding (MoU) with the Securities and Exchange Commission of Sri Lanka (SEC) and the Insurance Regulatory Commission of Sri Lanka (IRCSL) on 31 December 2018 at CBSL, to conduct effective consolidated risk-based supervision and for CBSL to be the […]
‘s Basel III sub debt BBB+(lka)(EXP)
Jan 04, 2019 (LBO) – Fitch Ratings has assigned Seylan Bank’s proposed Basel III compliant subordinated debentures an expected National Long-Term Rating of ‘BBB+(lka)(EXP)’. The notes, which will total 5 billion rupees and mature in five years, include a non-viability clause and will qualify as regulatory Tier II capital for the bank. Seylan plans to […]
LankaPropertyWeb.com Acquires Lamudi.lk
Jan 04, 2019 (LBO) – Sri Lanka’s leading property portal LankaPropertyWeb has announced the acquisition of the country’s no.2 property portal lamudi.lk. The acquisition includes the lamudi.lk domain and all its listings, plus the local operations of Lamudi Sri Lanka. With this acquisition, LankaPropertyWeb aims to expand its reach and property portfolio to provide an improved […]
MBSL announces changes in MIDCAP with year-end index rebalance
In a pioneering move, Merchant Bank of Sri Lanka & Finance PLC (MBSL) constructed a Stock market Index: the “MBSL MIDCAP Index”, which measures the aggregate price level and price movements of medium-sized companies listed on the Colombo Stock Exchange (CSE). The index which came into operation in the Year 1999 is revised annually and […]
I think we are understating Sri Lanka’s GDP under new methodology: CB Governor
Jan 02, 2019 (LBO) – Sri Lanka’s Central Bank Governor on Wednesday pointed out that the authorities need to look at carefully whether they are recording the GDP of the country accurately.According to Coomaraswamy’s own view, the growth in 2018 should be somewhere between 3.5 and 4 percent. “I don’t think this is a 3 […]