Category: Companies
Businessman Dhammika Perera buys Beach Resorts for Rs330mn
Dec 27, 2016 (LBO) – Sri Lankan business tycoon Dhammika Perera has bought control of Beach Resorts limited for 330 million rupees, Amaya Leisure said. The Board of Directors of Amaya Leisure announced to the Colombo Stock Exchange that it has taken a decision to divest its entire shareholding in The Beach Resorts Ltd, a […]
Sri Lankan shares hit more than 8-mth closing low; turnover slumps
Dec 27, 2016 (Reuters) – Sri Lankan shares closed at their weakest in more than eight months in typical year-end holiday-thinned trading on Tuesday, with turnover slumping to a near 33-month low as investors stayed away. The Colombo stock index ended 0.22 percent lower at 6,202.83, its lowest close since April 6. It has shed […]
Sri Lanka Hayleys eyes 55-floor Twin Tower development project
Dec 27, 2016 (LBO) – Sri Lanka’s diversified Hayleys has approved in principle a property development project in Colombo for commercial office space. The venture would see the construction of “A” Grade Twin Towers, with 55 floors each, having a total floor area of 3.8 million square feet of space. The Board of Directors of […]
Sri Lanka’s Fortress Resorts to build Rs2.1bn 5-star hotel in Weligama
Dec 27, 2016 (LBO) – Sri Lanka’s Fortress Resorts through its fully owned subsidiary La Forteresse private limited has made an initial investment of 364 million rupees to set up a five Star Hotel in Weligama. The hotel project is undertaken by Alila Hotels & Resorts private limited owned by La Forteresse at an estimated […]
Sri Lankan shares rise after eight sessions of falls in thin trade
Dec 23, 2016 (Reuters) – Sri Lankan shares edged up on Friday, snapping eight straight sessions of falls and moving away from a more than eight-month closing low hit in the previous session, while turnover was low in holiday-thinned trade as investors stayed away from markets ahead of the Christmas weekend. The Colombo stock index […]
Sri Lankan shares hit more than 2-wk closing low led by banks
Dec 16, 2016 (Reuters) – Sri Lankan shares fell for a third straight session on Friday to close at their lowest in more than two weeks, as a dollar rally to a 14-year peak after an interest rate increase by the U.S. Federal Reserve earlier this week kept investors subdued. The 25-basis-point rate increase could […]
Teejay Lanka replaces Ceylinco Insurance in new S&P SL20 rebalance
Dec 15, 2016 (LBO) – Colombo Stock Exchange today announced changes to the S&P Sri Lanka 20 index made by S&P Dow Jones Indices at the 2016 annual index rebalance. As announced by S&P Dow Jones Indices, effective from 19 December 2016 (after the market close), Ceylinco Insurance will be removed from the S&P Sri […]
Colombo Stock Exchange lifts trading ban on Brac Lanka Finance
Dec 15, 2016 (LBO) – Sri Lanka’s securities watchdog, the Securities & Exchange Commission has instructed the Colombo Stock Exchange to lift the trading ban imposed on Brac Lanka Finance. The SEC earlier imposed a trading suspension on Brac Lanka Finance under section 246 of the Companies Act. The securities regulator thereafter specified a procedure […]
Sri Lankan shares hit more than 2-wk closing low; Fed rate hike weighs
Dec 15, 2016 (Reuters) – Sri Lankan shares fell in line with regional bourses to close at their lowest in more than two weeks on Thursday, as a 25-basis-point interest rate increase by the U.S. Federal Reserve and hints of more to come next year kept investors on tenterhooks. The Fed signalled a faster pace […]
Central Bank approves Richard Pieris, Chilaw Finance amalgamation
Dec 14, 2016 (LBO) – Sri Lanka’s Central Bank has granted approval for the amalgamation of Clilaw Finance with Richard Pieris Finance, by taking over all the assets and liabilities of Clilaw Finance. Following the approval granted by the Central Bank on 05th December, the Board of Directors of Richard Pieris Finance has approved the […]
‘s deal lifts mood
Dec 08, 2016 (Reuters) – Sri Lankan shares rose on Thursday as a stake buy in Commercial Credit and Finance Plc by a unit of Thailand’s Group Lease Plc lifted the mood while foreign investors bought domestic stocks and turned net buyers so far in the year. Group Lease Holdings Pte Ltd, a subsidiary of […]
Ceylinco Life’s income tops Rs 17 billion in nine months
Dec 06, 2016 (LBO) – Ceylinco Life has reported total income of 17.165 billion rupees for the nine months ending 30th September 2016, reflecting growth of 15.3 per cent over the corresponding period of last year. Premium income for the nine months improved by 11 per cent to 11 billion rupees, while investment and other […]