Category: Industry
Product Dev
SAP, a leading business software solutions provider is stepping up its presence locally to face, what company officials say is an upcoming leap in demand for IT aided management solutions. The firms primary market focus in Sri Lanka will cover the banking, utilities, telecom and the state sectors.rn rnThe solution provider is already in Sri […]
Spot Hopping
For many like Peter Berkley, a lquote visiting consultant on assignment to Sri Lanka, access to the internet meant hooking up his laptop with a phone chord to a wall socket in his hotel room or a business centre around his comfort zone. He recalls a typical day back home in the US, when he […]
Knock Knock
The Ceylon Hotels Corp. (CHC) is knocking on the Treasurys door for a Rs.59 mn loan to upgrade its properties.Part of the funds will also be utilised to pay off a Rs.19 mn early retirement package the corporation offered earlier this year to send home 51 employees, CHC Chairman, Bodhi Liyanage said.rn rnCHC, a government […]
Safety First
This year 78 companies are taking part in the National Safety Awards. Not all of them win awards. But organizers say by merely taking part these companies create a safer working place for their employees.rn rnAuditors from the National Safety Awards have already started grilling short listed applicants.rn rnCeylon Cold Stores is one of the […]
Bateys Magic
Batey, a top regional public relations company, is to take over the state tourism promotion agency early next year. The company singled out by the Prime Minister is waiting for the fine print in their contract to be sorted out according to officials.rn rnBatey, the creator of lquote the Singapore girl for Singapore Airlines and […]
Black Mark.
Naming these institutions is part of the banks efforts to warn depositors not to part with their funds in un-regulated institutions.rn rnEarlier in 2003 the Central Bank for the first time in history, named 27 companies for mobilising public funds without regulatory approval.rn rnHowever, the latest warning follows an examination of the Jana-Shri Financial Corp., […]
Looking Healthy
Fitch Ratings Lanka re-confirmed its SLAA+ national rating on John Keells Holdings Ltd. senior debt following the conglomerates recent acquisition spree.SL AA+ rating denotes a very low expectation of credit risk. It indicates very strong capacity for timely payment of financial commitments. This capacity is not significantly vulnerable to foreseeable events.rn rnAfter picking up a […]
Road Works
The Road Development Authority has commissioned a Korean Company to carry out a feasibility study to rehabilitate the Puttalam-Trincomalee (A12) Road. The study will be carried out at a cost of US$ 1.2 mn, with the funds coming through a grant from the Korean government. rn rnWork will begin in November this year and go […]
Direct Dialling
It is understood that the Premier had advised senior state officials to consider direct offers, with the option of listing part of the stake in the country of the new investor. rn rnInitial reports indicate that an 8.5 per cent to 10.00 per cent stake could be on offer not this year, but next year.rn […]
Sixth Sense
Thai resort and spa chain lquote Six Senses is in talks with John Keells Holdings, to develop a luxury tea spa on a 600-acre stretch of Maskeliya Plantations.ldblquote Talks are still in early stages and if its successful, the chain will invest as much as Rs. 2 bn to develop the property into a tea […]
Boom Times
The Janashakthi Group expanded its property portfolio on Monday by taking full control of Kelsey Holdings (Pvt) Ltd.The deal, which cost just under Rs. 50 mn by way of debt/equity, saw Kelsey Holdings management and Ayojana Fund Management sell out to Janashakthi Securities & Financial Services Ltd.rn rnKelsey Holdings currently controls 87.82 percent of Kelsey […]
Tourist Dollars
Sri Lanka is beginning to put in place its tourism infrastructure, with eight key areas around the island and four zones in the North and East tagged for initial development.A US$ 60 mn JBIC loan is on the cards to develop infrastructure like roads and utilities like electricity, water supply, sewerage systems and waste disposal.rn […]