Category: Companies
Sri Lanka’s Commercial Bank to explore Maldives expansion
Sep 18, 2015 (LBO) – Sri Lanka’s Commercial Bank of Ceylon is planning on setting up a banking subsidiary in the Republic of Maldives in partnership with a Maldivian company, the bank said in a stock exchange filing.“We are delighted to receive a licence to operate a fully-fledged banking subsidiary in the Maldives,” Commercial Bank’s Managing […]
Sri Lanka’s government to extend Colombo port city agreement
Sep 17, 2015 (LBO) – Sri Lanka’s cabinet has approved extending the much talked Colombo port city development project agreement for further six months, the government said.The agreement signed between the government and the relevant project company, CHEC Port City Colombo (Pvt) Ltd, on 16th of September 2014 expired on 15th of this month. The […]
‘s MTD Walkers to sell Rs3.0bn in listed debt
Sep 17, 2015 (LBO) – Sri Lanka’s construction and engineering sector player MTD Walkers is planning to sell 3.0 billion rupees of listed debt, the Colombo Stock Exchange said.The CSE said it had approved an application by MTD Walkers to offer 25 million debentures of 100 rupees each and a further 5 million if the first […]
Sri Lanka Planters Association says tea industry might survive with new pay model
Sep 15, 2015 (LBO) – Sri Lanka’s Planters Association says that tea industry, which is in a revenue crisis, might have a chance to survive if its new productivity-linked wage model presented to employees is accepted by them.“The employers’ ability to pay is a very important and critically fundamental aspect when labour wages are negotiated,” […]
Fitch Withdraws Rating on Ceylon Income Fund; Ceylon Asset Management responds
Sep 14,2015 (LBO) – Fitch Ratings said it has withdrawn Ceylon Income Fund’s National Fund Credit Quality Rating of A(lka)’ saying there is no National Volatility Rating assigned to the fund, which is managed by Ceylon Asset Management.Following the Securities and Exchange Commission of Sri Lanka not renewing the license of Lanka Rating Agency (LRA), in July 2015, […]
ICRA Lanka assigns A-(Stable) rating to First Capital Treasuries
Sep 14, 2015 (LBO) – ICRA Lanka has assigned the Issuer rating of [SL] A- with stable outlook to First Capital Treasuries Limited. The rating agency has also assigned the [SL] BBB+ rating with stable outlook to the 500 million rupees Subordinated Unsecured redeemable Debenture programme of the company. The full text of the rating; […]
Hayleys employees benefit from share trust dissolution
Sept 13, 2015 (LBO) – Employees of Hayleys PLC will benefit from the dissolution of its Employees’ Share Trust and hold shares worth around a billion rupees, an official said.The trust was set up to fight a takeover bid by the Carsons Group, and according to the company, was allotted 2.4 million ordinary shares of […]
Sri Lanka hoteliers cannot work in isolation, says Keells Deputy Chairman
Sep 10, 2015 (LBO) – Sri Lanka hoteliers alone cannot make the industry to grow but with collaboration we can, Ajit Gunewardene, deputy chairman of John Keells Holdings said. “Tourism is a massive industry and we have barely begun. Before we destroy what is great, we believe this is the time to create something unique […]
Sri Lanka’s John Keells to double hotel rooms over next 5 years
Sep 09, 2015 (LBO) – Sri Lanka’s John Keells Holdings plans to double its current 2,200 room capacity in the next 5 years, Ajit Gunewardene, the deputy chairman said.This includes the 800 rooms of Cinnamon Life iconic that the group is building. “By the middle of next year we would be constructing approximately 400 to […]
ICRA Lanka assigns BBB rating for EAP Broadcasting
Sep 08, 2015 (LBO) – ICRA Lanka Limited has assigned an Issuer rating of BBB for EAP Broadcasting Company with a stable outlook on the rating. The full text of the rating is reproduced below. ICRA Lanka assigns [SL]BBB rating with Stable outlook to EAP Broadcasting Company Limited ICRA Lanka Limited, a wholly owned subsidiary of […]
Exercising of JKH 2015 warrants to commence from 29 Sept
Sep 07, 2015 (LBO) – Sri Lanka’s conglomerate John Keells Holdings on Monday said the exercising of 2015 warrants of the company will commence from 29 September till the expiration date of 12 November 2015.The purchase price of a warrant is 161.87 rupees per ordinary share, and each warrant shall entitle the warrant holder to […]
Orient Finance gets Central Bank approval for listing, IPO
Sept 07, 2015 (LBO) – Orient Finance PLC says the Central Bank of Sri Lanka has granted it approval to list shares on the Colombo Stock Exchange.The company said the listing would be by way of an Initial Public Offering, subject to approval from the Colombo Stock Exchange.Orient Finance was formerly known as Bartleet Finance.