Category: Companies
Sri Lanka’s Hayleys to raise Rs2bn in listed debt
May 17, 2016 (LBO) – Diversified Hayleys Plc is planning to raise as much as 2 billion rupees from a sale of debentures which will be quoted on the Colombo Stock Exchange. The stock exchange said the company wanted to sell up to 20 million debentures at 100 rupees each. Capital Alliance Partners and People’s […]
MTD Walkers expands to Maldives
May 16, 2016 (LBO) – Integrated infrastructure and engineering solutions provider MTD Walkers announced today that it has expanded its operations to the Maldives. Walkers CML International (Private) Limited, a subsidiary of MTD Walkers PLC was incorporated in the Maldives to meet the growing demand of infrastructure development activities in the country. The group also […]
Sri Lanka’s SEC blocks share transaction of Blue Diamonds
May 13, 2016 (LBO) – Sri Lanka’s securities regulator on Friday blocked a share transaction related to the chairman of Blue Diamonds Jewellery Worldwide following a possible violation of laws. As per the statement issued by the Securities and Exchange Commission (SEC), earlier this week Xia Liqiang, the Chairman of Blue Diamonds has disposed 15,146,200 […]
Equity crowdfunding soon for average investors in US
May 13, 2016 (LBO) – This month the U.S. Securities and Exchange Commission will begin implementing equity crowdfunding for the average investor. This will allow small companies to directly raise debt or equity capital from friends, family, and interested investors. It’s the final piece of landmark legislation called the Jumpstart Our Business Startups Act, popularly […]
Advance Business Partner led ICT Gateway to link SL ICT firms with Norwegian counterparts – CCC
Under the Ceylon Chamber of Commerce and Advance Business Partner AS of Norway led Sri Lanka – Norway Matchmaking program, Sri Lankan ICT firms now have the opportunity to link up with the Norwegian counterparts to explore global opportunities. Under the latest ‘ICT Gateway’ project Norwegian firms are looking to outsource their work to overseas […]
Sri Lanka’s Dialog Axiata net up 35-pct in March quarter
May 12, 2016 (LBO) – Profit after tax at Sri Lanka’s Dialog Axiata group, which has interests in mobile, fixed and pay television rose 35 percent to 2.6 billion rupees from a year earlier in the March quarter, interim accounts showed. Revenues grew 22 percent to 21.1 billion rupees in the quarter from a year […]
Panama Papers goes online with Sri Lankan companies on list-Updated
May 09, 2016 (LBO) – The International Consortium of Investigative Journalists on Monday released a searchable database of more than 200,000 offshore entities that are part of the Panama Papers investigation. The data comes from the Panamanian law firm Mossack Fonseca, one of the top players in the offshore world, and includes information about companies, […]
SEC imposes restrictions on Entrust Capital Markets activities
May 09, 2016 (LBO) – Sri Lanka’s securities regulator has imposed several restrictions on Entrust Capital Markets (Pvt) Ltd (ECMPL) following regulatory concerns on the activities of the broker firm. The Securities and Exchange Commission in a letter has directed the firm that client funds are not withdrawn except with the prior written approval of […]
Czech eyes hydro power, sugar and aviation in Sri Lanka
May 09, 2016 (LBO) – Czech Republic is currently looking for trade and investment opportunities in Sri Lanka, a business delegation headed by Czech Ambassador said. The Board of Investment recently hosted representatives of leading Czech companies including Viktovice Power Engineering, Eldis, Fans, Skoda Doosan Power and Technoexport. Ambassador Milan Hovorka brought to the attention […]
‘ve crossed rubicon in climate change: Chamath Palihapitiya
May 09, 2016 (LBO) – Chamath Palihapitya, the Sri Lankan-born venture capitalist and tech visionary, highlighted several industry trends recently, ranging from Amazon’s valuation to funding fallacies in Silicon Valley. Commenting on climate change, Palihapitiya said humanity had crossed the rubicon, and new technologies will be needed to fix the problem. “Nothing takes away from […]
Sri Lanka’s Nestlé unit net up 10-pct in March 2016 quarter
May 06, 2016 (LBO) – Nestlé Lanka, a unit of a Swiss-based food group, said net profits rose 10 percent to 1.27 billion rupees in the March 2016 quarter from a year earlier. The firm reported earnings of 23.74 rupees per share for the quarter against 21.56 rupees reported a year earlier. The stock closed […]
Jetwing Lighthouse to build new hotel at Unawatuna for Rs350mn
May 05, 2016 (LBO) – Sri Lanka’s hotels and travel sector front runner Lighthouse Hotel has decided to construct a new hotel through incorporation of a fully owned subsidiary. The company said in a stock exchange filing that the Board of Directors has approved a proposal to build the hotel with 36 rooms at Unawatuna area for […]