Category: Companies
Dividend tracker improves equity insights: SC Securities
Oct 24, 2015 (LBO) – Sri Lanka's SC Securities believes divided tracking is one way of gaining insights into equity performance in stocks listed on the Colombo Stock Exchange, especially with regard to past dividend payouts. In a report on 15 stocks, SC Securities shows how investors can track past dividend payouts. National Development Bank, […]
Uber arrives in Sri Lanka
Oct 22, 2015 (LBO) – Uber, a global ride sharing company in over 340 cities in 60 countries, launched in Sri Lanka, a statement said. “At Uber, every city that we launch outperforms its predecessor and we expect nothing less from Colombo. In fact, for months now, we know that demand for Uber has been […]
Sri Lanka’s Finlays unit to delist
Oct 21, 2015 (LBO) – Sri Lanka’s Finlays, a tea exporter said it plans to delist its ordinary shares from the Colombo Stock Exchange, a statement said. “James Finlay of Swire House, London will302 rupees a share,” the company said in a stock exchange filing. The decision is subject to regulatory approval. The Company’s shares […]
Dialog, BOI in Rs24 bn investment to improve ICT infrastructure
Oct 21, 2015 (LBO) – Dialog Axiata Plc entered into an agreement with Board of Investment of Sri Lanka to invest 25.6 billion rupees or 175 million US dollars to improve the island’s ICT infrastructure, the company said in a filing to the Colombo Stock Exchange.The investment agreements span a broad scope of ICT infrastructure […]
Worker wages with revenue share is only solution: Plantation Companies
Oct 21, 2015 (LBO) – Sri Lanka Regional Plantation Companies (RPCs) have come up with a model for the pressing wage problem of plantation workers and recommend a revenue sharing model for remuneration, a statement said. “The revenue sharing model is now clearly the only viable, mutually beneficial and sustainable solution for the country’s plantation […]
Sri Lanka’s Vallibel One to go ahead with USD60mn integrated resort project
Oct 21, 2015 (LBO) – The leisure investment arm of Vallibel One, Greener Water limited is to continue with its project to construct a 400-roomed luxury five star resort in Negombo in its 18 acres of freehold land.The company has entered into an agreement with the Board of Investment of Sri Lanka in relation to […]
Ravi K warns companies not paying bonuses due to Super Gains Tax
Oct 20, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake told Parliament Tuesday that the government is in search for big companies that are not paying bonus payments to employees. “I was disappointed with some of the companies that pretended to be paying Super Gains Tax and stop certain payments,” he said.“There is no […]
Germany’s Bosch commences operations in Sri Lanka, eyes construction boom
Oct 20, 2015 (LBO) – Bosch, a leading German supplier of technology and services, commenced operations in Sri Lanka to meet the increasing demand seen in the infrastructure sector, a senior official said. “The inauguration of our new office marks an important milestone for our business expansion in the South Asian region,” Steffen Berns, managing […]
Janashakthi rights issue approved for AIA General acquisition
Oct 16, 2015 (LBO) – Sri Lanka’s Janashakthi Insurance received the formal go ahead from its shareholders to raise over 3.357 billion rupees by way of a rights issue of over 181.5 million rupees new ordinary shares at its Extraordinary General Meeting (EGM) held on Friday to fund acquisition of AIA insurance, the company said in a statement. Under this rights issue, Janashakthi will be issuing […]
MasterCard, NDB to offer purchase control solutions to minimize fraud
Oct 14, 2015 (LBO) – Sri Lanka’s National Development Bank and MasterCard said that they will bring the MasterCard Purchase Control solution to Sri Lanka, which combines an integrated pre-approval process with secure virtual account numbers to deliver enhanced global controls and increased transaction security thereby reducing their exposure to fraud and employee misuse. “As Sri Lankan enterprises […]
Candor to list 5-year unit trust on CSE, makes public offer
Oct 13, 2015 (LBO) – Candor Opportunities Fund, managed by Candor Asset Management, has been approved to list on the Colombo Stock Exchange with a public offering of 75 million units at 10 rupees per unit, the fund manager said. The issue will offer 50 million units at 10 rupees per unit, with an option […]
Sri Lanka to revive Sathosa with help from Singapore
Oct 09, 2015 (LBO) – Sri Lanka’s state owned retail chain Lanka Sathosa aims to get support to revive from Singapore as the retail chain is making continues losses, ministry of industry and commerce said in a release. Lanka Sathosa owned more than 310 outlets around the island. “We are restructuring LAKSATHOSA and are still […]