Category: Companies
Tea Smallholder Factories profit drops in Sept quarter
Nov 03, 2015 (LBO) – Sri Lanka’s Tea Smallholder Factories’ made a quarter net loss of 13 million rupees down from 3.4 million rupees profit in the same quarter last year, according to interim results sent to the Colombo Stock Exchange. The company, in which conglomerate John Keells Holdings and tea exporter Akbar Brothers have […]
ICRA Lanka assigns A+ rating for Access debenture issue
Nov 03, 2015 (LBO) – ICRA Lanka has assigned a rating of A+ with a stable outlook for the proposed 5 billion rupees debenture issue of Access Engineering. The rating announcement is reproduced below. ICRA Lanka has assigned a rating of [SL]A+ (pronounced S L A plus1) with a stable outlook to the proposed LKR […]
Sri Lanka’s Sunshine Holdings Sept group net up 8-pct
Nov 03, 2015 (LBO) – Sri Lanka’s Sunshine Holdings group said September 2015 quarter net profit grew eight percent to 171 million rupees from a year ago backed by gains made in healthcare and fast moving consumer goods business. “Growth in group revenue for the six months ending September 2015 was driven by the healthcare […]
Sewage line caused delay in construction: Nawaloka Hospitals
Nov 02, 2015 (LBO) – Sri Lankan health care provider Nawaloka Hospitals on Monday said a proposed construction work has been delayed due to a detection of an underground sewage line under Nawaloka Hospitals. The company raised 1.5 billion rupees through a debenture issue in 2013 partly to build a multi-storey building with car park, […]
Sri Lanka’s Access Engineering to raise Rs5bn from listed debenture
Nov 02, 2015 (LBO) – Sri Lanka’s construction giant, Access Engineering is to raise 5.0 billion rupees from a listed debenture issue, the company said in a stock exchange filing.The company has decided to issue 30 million debentures at 100 rupees each with an option, to issue up to a further 20 million debentures in […]
Sri Lanka’s Carson Cumberbatch to purchase Equity One shares
Nov 02, 2015 (LBO) – Sri Lanka’s diversified Carson Cumberbatch on Monday said it intends to make an offer to purchase remaining Equity One ordinary shares at 77.50 rupees per share. Equity One announced today that they are to de-list its ordinary shares from the official list of the Colombo Stock Exchange subject to necessary […]
Interview: Three cases reopened, investigation division to expand in Nov, says SEC Chairman
Nov 02, 2015 (LBO) – The Securities and Exchange Commission of Sri Lanka has reopened three cases as part of probes that will be carried out by an expanded investigations and enforcement division, the SEC Chairman said.An SEC reorganization will be completed in November, and an upgraded surveillance system will be in place next year, […]
Norwegian sovereign fund invests in Sri Lanka equities
Oct 31, 2015 (LBO) – Norway’s central bank, which manages the world’s biggest sovereign wealth fund, has started buying shares in Colombo listed companies.Norges Bank has bought 7.5 million shares in knit fabric maker Textured Jersey Lanka, a media report said.The fund started investing in Textured Jersey around September.Norges Bank Investment Management has close to […]
Sri Lanka’s John Keells Hotels profits flat in September quarter
Oct 30, 2015 (LBO) – Sri Lankan hotel operator, John Keells Hotels Plc’s profits increased by only 2 percent to 350 million rupees in the September quarter 2015 despite a tourism boom in the Island, interim accounts showed. Earnings per share was flat at 24 cents per share for the quarter. The company’s revenue also increased […]
Browns Capital invest Rs407mn in Sri Lanka’s solar power plant
Oct 29, 2015 (LBO) – Browns Capital PLC had invested 407 million rupees in Saga Solar power private limited who are in the business of solar power to acquire a 50.10 percent equity, the company said in a filing to Colombo Stock Exchange.The firm said it bought 38.7 million shares of Saga Solar Power, who […]
Sri Lanka Watawala Plantation profits up; palm oil supports bottom-line
Oct 28, 2015 (LBO) – Sri Lanka’s Watawala Plantations said it made a profit of 141 million rupees in the September 2015 quarter, up 354 percent, compared with 31 million rupees in the same quarter last year, supported by palm oil segment. The firm reported earnings of 55 cents per share for the quarter, the […]
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Oct 26,2015 (LBO) – Fitch Ratings has assigned Sri Lanka’s Sampath Bank PLC’s Base lI-compliant subordinated debentures of up to seven billion rupees , a final National Long-Term Rating of ‘A(lka)’.The final rating is the same as the expected rating assigned on 9 October 2015, and follows the receipt of documents conforming to information already received, the rating […]