Category: Industry
Six In One Blow
Six cluster bus companies made it thorough the stock exchange as scheduled on Thursday, all picked up by the British led consortium of IBIS Transport Consultants, with technical collaboration from Transbus International. The partial sale fetched Rs. 1.41 billion to the governments for the 39 per cent stake and management control of the six bus […]
Dialing Out
Sri Lanka Telecom is set to open its share issue on November 12, with the listing dated scheduled for November 25. A circular to stockbrokers from the issue managers DFCC says 225 million shares or 12.5 per cent of SLT would be offered to the public.rn rnThe main board listed shares will be priced between […]
Fly Over
Czech Airlines made their formal entry into Sri Lanka today – the new air bridge linking Colombo and Prague via Dubai with a window into Europe and the Far East.Two flights a week will service the route with Airline officials adding that most of the flight has already been sold out.rn rnThe entry of Czech […]
Further In Debt
Withholding tax would be slapped on corporate debt from the first of November, a treasury public notice said. rn rnSecondary market trading in debt securities is still very limited in Sri Lanka and analysts warn that this may be the final blow to any hopes of a take off in trading.rn rnWithholding tax makes secondary […]
Call Through
Sri Lanka quote s largest IPO was fully subscribed and closed on Friday.rn rnGovernment offered a 12% stake in Sri Lanka Telecom with an option to sell a further 3 percent stake in the case of an over subscription.rn rnOnce listed in December or early January the company will become the largest capitalized company in […]
Going Public
A November Initial Public Offering will see medical services giant Apollo Hospitals list on the main board of the Colombo Stock Exchange.Underwriters and managers to the issue, Hatton National Bank Limited (HNB) told Lanka Business Online that the Apollo IPO would open on November 8, with the listing scheduled for November 20.rn rnThe IPO will […]
Charging Ahead
Commercial Bank of Ceylon on Tuesday reported a 34 percent net profit growth for the nine months ending September 30.rn rnThe bank said net profits surged to Rs. 952 mn from Rs. 711 mn in 2001 due to higher volumes, prudent management decisions and the removal of a 20 percent surcharge on income tax.rn rnRevenue […]
Stress On The Balance Sheet
Audry was forced to leave her job as a Management secretary due to work related stress. Her employer, a leading department store in Britain did not recognize that work related stress could affect employees.rn rnAudry suffered spells of depression and her job performance slumped.rn rnldblquote I got more and more backwards. My family life suffered. […]
Express Exit
The banking service was purchased outright by NTB while the foreign exchange operations will be done on an AmEx franchise.rn rnTravel services will be delivered through a newly formed joint venture with Mackinnons travels a John Keels Holdings company.rn rnNTB says the cost of acquisition of the 3 main lines of AmEx business was minimized […]
SLT Goes Public
Sri Lanka Telecom is going public at a time when telecom shares are taking a beating in global markets. SLT Chairman Thilanga Sumathipala says that the SLT is look at a parcel between 12-20%%rn rnldblquote Before December 31 we will be going for the local IPO, dblquote he says.rn rnBut SLTs core profits are now […]
High Availability
Computers have changed the way business is done over the last decade. Companies with networked computer systems are putting more information at the fingertips of employees.rn rnExperts say that when these systems fail the cost begin to rise. rn rnTo have a running system has become as important as having a networked computer system in […]
New CAD
Visual Computing systems launched state-of-the art software to enable local companies to tap the growing market for Computer Aided Design. The company says the software by PTC a leader in CAD products enables detailed designs to be done faster and with more precision.rn rnVisual computing also plans to set up a training program for CAD […]