Category: Industry
Take No Risks
SL AAendash long-term rating denotes a very low expectation of credit risk.The rating indicates a very strong capacity for timely payment of financial commitments. This capacity is not significantly vulnerable to foreseeable events, FRL said in a release on Monday. rn rnBOC quote s rating reflects its pre-eminent position as the largest bank in Sri […]
Full Format
The agency is to be given strong debt recovery powers to clean up banks quote balance sheets jointly with the private sector, Prime Minister Ranil Wickremasinghe said. rnrnBad debts currently account for 18 percent of the banking sector quote s total loans, with only one out of six major banks meeting Central Bank quote s […]
Brick Fund
Housing Development Finance Corp., the state owned housing giant, is looking to raise Rs. 600 mn through a private placement later this year.rnrnCabinet approval has also come through to give HDFC lquote banking status quote enabling it to mobilise public deposits, CEO C A Sarathchandra told Lanka Business Online.rn rnThe housing giant is banking on […]
Lesson in Mandarin
China Airlines will carry SriLankan passengers from Bangkok to mainland China under the interim agreement.rn rnSriLankan Airlines officials said an agreement would be signed before August this year. rn rnBased on the success of the operation SriLankan will acquire a long haul Airbus to fly direct to mainland China.rn rnChina is one of the fast […]
Christmas Sale
The government plans to kick off a local and international roadshow in September to sell a key stake in Sri Lanka Telecom (SLT).rn rnThe 10 percent to 15 percent slice is the largest asset sale planned by the government, which hopes to raise around Rs. 21 bn in privatisation receipts this year. rnrnBOI chief Arjuna […]
Easy exit
The Ceylon Chamber of Commerce has urged the Government to make exits for failed companies easier whilst making useful recommendations on the new Company Law as well stressing the need for proper dealing of bankruptcies.
Mortgaging Houses
The Housing Development and Finance Corp (HDFC) today securitised Rs. 260.5 mn of its Rs. 4.0 bn housing loan portfolio.rnrnPeoples Merchant Bank (PMB) who structured the issues says they adopted a typical “Pay Through Securitisation” format in structuring this instrument, where receivables pertaining to HDFC`s zero default mortgage loan portfolio was securatised.rn rnThese securatised notes, […]
Selling Sri Lanka
The promotion will launch the airline quote s latest destination endash Bangalore, India commencing flights from the July 15.rn rnThe package, put together with local hotels will give away a three nights and four days in Sri Lanka for every two economy class tickets. rn rnSriLankan Airlines recently leased an Airbus A320 to service the […]
Flapping Astray
The industry says two more airlines will commence operations while the Civil Aviation Department says nobody has actively pursued a licence since the first licence was issued in June this year.rn rnMeanwhile, Expo Aviation endash the only licensed domestic carrier operating three flights a week to the peninsula is awaiting approval to increase its frequency […]
Chipping Coral
Proceeds form the sale will go to write off the owning company quote s, Ceylon Holiday Resorts Limited, debt amounting to around Rs.250 million.rn rnJohn Keells officials said a lag in tourism and significant investments in their flagship hotel in the southern coast endash Benthota Beach Hotel in the recent past contributed to the build-up […]
Linking Fund Managers
Investors can log into www.unittrust.lk for information on the local industry and financial markets, a release states. rnrnThe site provides frequently asked questions on the Unit Trust investments, monthly performance summary of all funds, unit prices and weekly Treasury bill auction results. rnrnThe association has plans to post useful articles and analysis by member companies. […]
Getting Closer
Nations Trust Bank confirmed it has bought over Waldock McKenzie quote s fixed income and margin trading portfolio from John Keells Holdings.