Category: Companies
Norway’s Wealth Fund buys a stake in Tokyo Cement
Nov 16, 2015 (LBO) – Norway’s Norges Bank, which manages the world’s biggest sovereign wealth fund, has bought a stake in Tokyo Cement of Sri Lanka, the company’s interim filed in Colombo Stock Exchange shows. Norges Bank has bought 2,078,857 voting shares of Tokyo Cement, amounting to a 0.93 percent stake, and 6,269,466 non-voting shares […]
Ceylon Hotels Corp to construct a 50-room hotel in Maldives for USD27.7mn
Nov 16, 2015 (LBO) – Sri Lanka’s Ceylon Hotel Corporation said that it plans to construct a 50-room hotel in Maldives with an investment of 27.7 million US dollars. The company said that it has approved an acquisition of the entire shareholding of Ceylon Hotel Maldives (Pvt )Ltd (CHML) for a sum of 700,020 rupees […]
Analysis: Asian, Sri Lankan equities attractive on GARY valuation, says CLSA
Nov 14, 2015 (LBO) – Some equities offer dividend returns as well as earnings growth. Called Gary stocks, these are an attractive value proposition in an Asian context, Desh Peramunetilleke, the head of microstrategy for Asian brokerage and investment firm CLSA, said. “The growth at a reasonable yield, Gary strategy, has delivered strong returns globally,” […]
Sri Lanka Telecom net down 70-pct in Sept
Nov 16, 2015 (LBO) – Sri Lanka Telecom said September 2015 quarter net profit fell 70 percent to 630 million rupees from 2014, interim accounts showed. The Company’s earnings per shares fell to 0.35 rupees for the September quarter from 1.15 rupees in 2014 while for the first nine months EPS fell 19 percent to […]
Sri Lanka’s Commercial Bank net down 2.4-pct in Sept quarter
Nov 13, 2015 (LBO) – Sri Lanka’s Commercial Bank group profit decreased 2.4 percent to 3.2 billion rupees for the three months ended September 30 compared with the same quarter last year, the bank’s interim results showed. The group reported earnings of 3.71 rupees per share for the quarter.Gross income increased 6.63 percent to 20.3 […]
Sri Lanka’s Dialog Axiata net down 60 pct to Rs679mn
Nov 11, 2015 (LBO) – Profits at Sri Lanka’s Dialog Axiata, which has interests in mobile, fixed and pay television, declined 60 percent from a year earlier to 679 million rupees in the September 2015 quarter, interim accounts showed.Dialog said revenues grew 10.5 percent to 18.8 billion rupees in the September quarter from a year […]
Sri Lanka’s Hayleys profits up 6 pct to Rs629mn
Nov 11, 2015 (LBO) – Profits at Sri Lanka’s diversified Hayleys group rose 6 percent to 629 million rupees in the September 2015 quarter from a year ago supported by its transportation, activated carbon and textiles business, interim accounts showed. “The transportation and logistics sector contributed a notable increase to the bottom line during the […]
Dunamis Capital to raise Rs1bn from listed debenture
Nov 09, 2015 (LBO) – Sri Lanka’s diversified investment holding company, Dunamis Capital is to raise 1.0 billion rupees from a listed debenture issue, the company said in a stock exchange filing.The company has decided to issue 10 million debentures at 100 rupees each, subject to the necessary regulatory approvals.The subscription list will be open […]
Sri Lanka Chevron lubricants unit profits up 11 pct
Nov 04, 2015 (LBO) – Sri Lanka’s Chevron Lubricants Lanka Plc said profits in the September quarter rose 11 percent to 834 million rupees from a year earlier despite the shrinking of oil prices locally and globally.Chevron Lubricants Lanka PLC carries on the business of importing, blending, distributing and marketing of lubricant oils and greases. […]
Sri Lanka’s JKH’s net up 31 pct in September quarter
Nov 04, 2015 (LBO) – Sri Lanka’s diversified conglomerate John Keells Holdings profits rose 31 percent to 3.47 billion rupees in the September 2015 quarter from a year earlier, with revenues up by five percent to 22.68 billion rupees, the interim accounts showed.The firm reported basic earnings of 3.05 rupees per share for the quarter […]
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 […]