Category: Companies
‘s John Keells (JKL) gets new CEO
Oct 07, 2015 (LBO) – Hishantha G R De Mel has been appointed Acting Chief Executive of John Keells PLC, a subsidiary of John Keells Holdings, from 01 October 2015, the Colombo Stock Exchange said in a statement. Former CEO Sudath Chaminda Munasinghe resigned with effect from October 1 2015. De Mel joined the Company in […]
Sri Lanka’s LAUGFS acquires USD6mn LPG ship
Oct 05, 2015 (LBO) – Sri Lanka’s LAUGFS Maritime Services, a logistic arm of LAUGFS Gas PLC, said it acquired their second LPG ship to provide logistic support for the growing LPG demand in the country. This second acquisition was made with a total expected investment of USD 6 million, is named as MT ”Gas […]
Sri Lanka’s proposed finance bill discourages private sector investment: CCC
Oct 05, 2015 (LBO) – Sri Lanka’s Finance Bill of March 2015 sends negative signal to the private sector and discourages investment, the Ceylon Chamber of Commerce (CCC) said in a statement, Sunday. “ The CCC believes that the Finance Bill of March 2015, presented to Parliament recently sends a negative signal to the private […]
Sri Lanka’s Renuka Foods to acquire Shaw Wallace Ceylon through a share swap
Oct 02, 2015 (LBO) – Sri Lanka’s Renuka Foods is to acquire Shaw Wallace Ceylon limited through a share swap agreement to save cost and improve operational efficiencies, the company said in a stock exchange filing. A share swap is a tactic use during an acquisition of a company, paying shares rather than with cash. […]
Fitch affirms Sri Lanka Insurance Corporation at IFS BB- rating
Sep 30, 2015 (LBO) – Fitch Ratings has affirmed Sri Lanka Insurance Corporation Limited’s Insurer Financial Strength rating (IFS) at ‘BB-‘ with a Stable Outlook. The agency has also affirmed the National Insurer Financial Strength Rating and National Long-Term Rating at ‘AA(lka)’ with Stable Outlook. KEY RATING DRIVERS SLIC’s ratings reflect its well-established franchise and […]
Textured Jersey to offer share options to employees
Sept 30, 2015 (LBO) – Sri Lanka’s Textured Jersey Lanka says it will implement an employee share option scheme (ESOS) for directors and selected executives in management positions, in a stock exchange filing. The total number of shares to be issued, if all of the share options are exercised in full, amounts to 27 million […]
Sri Lanka is one of the fastest growing markets in South Asia says Huawei
Sep 29, 2015 (LBO) – As Sri Lanka is one of the fastest growing market in South Asia in smart phone segment of Chinese mobile maker, Huawei, says it plans to expand the market share though increasing distribution network targeting a revenue of 10 billion rupees by 2016. “Sri Lanka has grown to be one […]
Sri Lanka wants holding company structure for public enterprises: Governor
Sept 29, 2015 (LBO) – Sri Lanka’s government is looking at setting up a holding company which will own equity stakes in public enterprises, the central bank governor said. The aim here is to improve good governance and restructure under-performing ones, he said. “The government wants to evolve a holding company which will own equity […]
Sri Lanka JKH’s Cinnamon Life has 40 pct of residential tower prebooked: Official
Sep 23, 2015 (LBO) – Sri Lanka’s blue-chip John Keells Holdings said that its 850 million US dollar mixed development project “Cinnamon Life” has already started selling apartments in its integrated resort under the concept of live, work and play. “We call it a city-within-a-city which will have office space, shopping, dining, entertainment, playing area, apartment and […]
ICRA Lanka assigns BBB+ rating with stable outlook to Dunamis Capital
Sep 22, 2015 (LBO) – ICRA Lanka Limited has assigned the Issuer rating of BBB+ with a stable outlook to Dunamis Capital. ICRA Lanka has also assigned the [SL]BBB+ (pronounced SL Triple B plus) rating to the existing LKR 1,000 Mn Senior Unsecured Redeemable Debenture programme and the proposed LKR 1,000 Mn Senior Unsecured Redeemable […]
Sri Lanka’s LOLC Finance to get a new CEO
Sep 21, 2015 (LBO) – Sri Lanka’s LOLC finance, a subsidy of Lanka Orix Leasing Company appointed Ashan Nissanka as its chief executive, the company said in a stock exchange filing.He will be taking the new office from 15th October this year.Nissanka has a masters degree from Edith Cowan University, Australia and is a member […]
Alibaba falls below IPO price in New York Stock Exchange
Sep 18, 2015 (LBO) – The Chinese e-commerce giant Alibaba’s shares in the New York Stock Exchange have fallen below its initial offering price. Twelve months ago, Alibaba’s IPO priced at 68 US dollars, raised 21.8 billion US dollars for the company and made it the biggest IPO in US history. The share surged more […]