Category: Companies
Sri Lanka’s Volkswagen project temporarily halted: Minister
Aug 29, 2016 (LBO) – The proposed project to set up a Volkswagen car plant in Sri Lanka has temporarily been halted, Deputy Minister of Public Enterprise Development Eran Wickramaratne said. “Due to the international issues they had to face, they have decided not to invest in this project in Sri Lanka for now,” Wickramaratne […]
Sri Lanka’s tea industry opposes state interference to use levy
Aug 29, 2016 (LBO) – Sri Lanka’s tea industry players have opposed the Finance Ministry’s move to appropriate the funds accumulated by Tea Board, collected from the industry, for global tea promotion. Releasing a statement, six associations in the tea industry appealed to the Government to reconsider what they called an ‘unfair’ action in deference to […]
JKH reduces Keells Food Products stake for minimum float
Aug 26, 2016 (LBO) – Diversified John Keells Holdings says subsidiaries of the company have sold around 2 percent of shares in Keells Food Products to meet the SEC’s minimum public float rule. 413,408 shares were disposed at 160 rupees per share at August 25th amounting to 2 percent of the company’s ultimate shareholding in […]
Sri Lanka to regulate lubricants, bitumen through PUCSL
Aug 24, 2016 (LBO) –Sri Lanka’s cabinet has approved appointment of the Public Utilities Commission as the regulator of the lubricant industry and bitumen trade so as to increase competition in the industry in line with the 2016 budget proposals. At present 13 companies including Ceylon Petroleum Corporation and Lanka Indian Oil Company are engaged […]
DCSL to suspend share transactions from Oct until public float restores
Aug 23, 2016 (LBO) – Sri Lanka’s Distilleries Company in a stock exchange filing says the trading in shares will be suspended starting from October until the public float in DCSL is restored. Directors of DCSL recently decided to make Melstacorp limited the ultimate holding company of the group and to obtain a listing from […]
Browns Beach Hotels to raise Rs1.4bn through rights issue
Aug 23, 2016 (LBO) – Sri Lanka’s Browns Beach Hotels is to raise 1.4 billion rupees by way of a rights issue subject to necessary approvals, the company said in a stock exchange filing. The company is to issue 54 million new ordinary shares at 25.85 rupees each in the ratio of 5 new shares […]
VirtusaPolaris Receives Stevie Award for Investor Relations and Technical Innovation
(PRESS RELEASE) – WESTBOROUGH, Mass.,– VirtusaPolaris, the market-facing brand of Virtusa Corporation and Polaris Consulting & Services, Ltd., and a leading worldwide provider of information technology (IT) consulting and outsourcing services, announcedthat it has been awarded two Stevie Award recognitions; a Gold award for Investor Relations and a Silver award for Most Innovative Technology Company […]
‘s Cabinet writes off Hyatt Regency in Hambantota
Aug 18, 2016 (LBO) – Sri Lanka’s Cabinet has approved shifting four billion rupees allocated for the Hyatt Regency project in Hambantota to the Grand Hyatt project in Colombo, effectively completing the write off of the Hambantota project. “Although, 315 million rupees has been spent, constructions of the said hotel has not been commenced,” a […]
Sri Lanka’s Amana Takaful Life to list on Thursday
Aug 16, 2016 (LBO) – The shares of Amana Takaful Life Limited will be listed on the Colombo Stock Exchange on Thursday, the company said in a stock exchange filing. Accordingly, 50 million shares would be listed on the Diri Savi Board of the CSE and will be classified under Banks, Finance and Insurance sector. […]
GAAM: Foreign inflow of Rs535 Mln for the week
The Guardian Acuity Asset Management weekly can be downloaded here [pdf-embedder url=”http://lbo-stg.efserver.net/wp-content/uploads/2016/08/Weekly-Report-GAAM-13-08-161.pdf” title=”Weekly Report GAAM 13 08 16(1)”]
Sri Lanka’s LOLC June net up 26-pct amid growing incomes
Aug 16, 2016 (LBO) – Sri Lanka’s LOLC group, which has interests in financial services, insurance, plantations, trading and leisure, said net profit for the June quarter rose 26 percent to 2.3 billion rupees. The group reported basic earnings of 4.92 rupees per share for the quarter up from 3.89 from a year earlier, on […]
Virtusa Announces First Quarter 2017 Consolidated Financial Results
(PRESS RELEASE) – Virtusa Corporation (NASDAQ GS: VRTU), a global business consulting and IT outsourcing company that combines innovation, technology leadership and industry solutions to transform the customer experience, reported consolidated financial results for the first quarter fiscal 2017, ended June 30, 2016. First Quarter Fiscal 2017 Consolidated Financial Results Revenue for the first quarter […]