Category: Companies
Sri Lanka’s ICRA assigns [SL] A+ rating with Stable outlook to Access Engineering
July 22, 2015 (LBO) – ICRA Lanka Limited, a wholly owned subsidiary of ICRA Ltd, a group company of Moody’s Investors Service has assigned an Issuer rating of [SL]A+ for Access Engineering with stable outlook on the long-term rating. Full text of the press release is reproduced below. ICRA Lanka assigns [SL] A+ with Stable […]
Shopping Fashion Online: An enormous opportunity for entrepreneurs but are we ready yet?
July 17, 2015 (LBO) – Sri Lankan fashion entrepreneurs are open to vast opportunities in the digital space but will have to face a different set of challenges, a Sri Lankan entrepreneur said. “The number of opportunities in the digital domain as an entrepreneur is enormous,” Linda Speldewinde, Founder and Managing Director, AOD International Design […]
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July 17, 2015 (LBO) – Sri Lanka’s Fitch Ratings has assigned Bank of Ceylon’s proposed Basel II-compliant subordinated debentures of up to 8 billion rupees an expected national long term rating of ‘AA(lka)(EXP)’. The proposed issuance, which will have tenors of five and eight years and carry fixed and floating coupons, will be listed on the […]
Sri Lanka’s Hikkaduwa Beach Resort to borrow Rs480mn from Sampath Bank
July 17, 2015 (LBO) – Sri Lanka’s Hikkaduwa Beach Resort is to borrow 480 million rupees from Sampath Bank after mortgaging its land and building, the company said.The company will be calling for a shareholder meeting to seek necessary approval for the said borrowing and the mortgage of the property. “The entirety of the land […]
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July 16, 2015 (LBO) – Sri Lanka’s Fitch Ratings has assigned People’s Leasing & Finance proposed senior unsecured debentures of up to 6 billion rupees an expected national long term rating of ‘AA-(lka)(EXP)’. The final rating is contingent on the receipt of the final documents conforming to information already received, Fitch Ratings said. The issue […]
Sri Lanka Dankotuwa Porcelain gets new CEO
July 15, 2015 (LBO) – Sri Lanka’s Dankotuwa Porcelain said, Wasaba Jayasekera was appointed as the Chief Executive Officer with effect from 15th July 2015.Jayasekera holds a Bachelor’s degree in physical science, from the University of Kelaniya Sri Lanka and a Master of Business Administration degree from the Postgraduate Institute of Management, University of Sri […]
Sri Lanka JKH’s Cinnamon Life targets future digital world: Deputy Chairman
July 15, 2015 (LBO) – Sri Lanka’s John Keells Holdings, a listed blue chip company said that its 850 million US dollar mixed development project of “Cinnamon Life” is designed to cater to future digital world offering a virtual experience. “Cinnamon Life – Now that is a brick and motor investment. However we believe, if […]
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July 14, 2015 (LBO) – Fitch Ratings Lanka has downgraded Siyapatha Finance PLC’s (SLFL) National Long-Term Rating to ‘A-(lka)’ from ‘A(lka)’ with a stable outlook, the rating agency said in a statement. The agency has also downgraded the National Long-Term Ratings on SLFL’s outstanding senior unsecured debentures to ‘A-(lka)’ from ‘A(lka)’ and outstanding subordinated debentures […]
Sri Lanka tea plantation workers offered a wage hike
July 14, 2015 (LBO) – Sri Lanka’s regional plantation companies (RPCs ) said they are raising the daily pay for 1000 rupees to meet labour union demands but only if workers agree to improve their productivity and pluck more tea.Plantation worker earns 620 rupee wage at present. “While the RPCs are finding even the present […]
Sri Lanka’s Asiri Central Hospitals sells Horton Place land for RS2.7bn
July 10, 2015 (LBO) – Sri Lanka’s Asiri Hospital Holdings said a sale and transfer of land and premises owned by Asiri Central Hospitals was completed Thursday for 2.70 billion rupees. The land is situated at No 37, Horton Place, Colombo 07, the company said in a stock exchange filing. Asiri Central Hospitals limited formerly […]
SriLankan Airlines, airberlin and NIKI codeshare mulls boost in tourism
July 6, 2015 (LBO) – SriLankan Airlines, airberlin the second largest airline in Germany and its subsidiary NIKI signed a new codeshare agreement recently, paving the way for increased tourism potential between Sri Lanka, Germany and Austria.“SriLankan Airlines is confident that our new codeshare with airberlin and NIKI will provide a much needed boost for […]
Ceylon Biscuits group chairman retires after 48 years of service
July 06, 2015 (LBO) – Sri Lanka’s biscuits manufacturing giant Ceylon Biscuits group said its Chairman Mineka P.Wickramasingha has been retired after 48 years at the helm of the organization he founded in 1968.At a recent Board meeting held on the 24 June 2015, the current Deputy Chairman, Ramya Wickramasingha was elected by the Board […]