Category: Industry
Clean Slate
A top rung Economists is suggesting the government converts one of the two state owned commercial banks to a Non-Performing Loan (NPL) management agency in view of clearing the local financial sectors financial overhang. rnrnldblquote Most Sri Lankan banks cannot provide the risk capital or seed capital to high potential businesses because of their bad […]
Risky Business
According to the study, the local banking sector is saddled with a 19 percent NPL ratio and only few banks record a NPL ratio below 10 percent.Cost to income ratio endash a key efficiency indicator endash is also recorded well above 80 percent for some banks. rnrnIn addition, findings reveal a heavy reliance on collateral […]
Changing Accounts
At least two local banks are carrying out due diligence studies to make a bid, informed market sources told Lanka Business Online. rnrnLeading consultancy, Ernst & Young is expected to conduct the due diligence for the prospective bidders, that include Commercial Bank, whose Chairman declared the banks strategy to grow through acquisitions last week and […]
Paperback Sale
Stamford Press is floating a new company called Stamford Lanka (Pvt) Ltd to acquire LHB from Lake House Investments (LHI). rnrnStamford Lanka will be jointly owned by Stamford Press (51 percent) and the associate companies of Mr. R S Wijewardene (49 percent), LHI told shareholders. rnrnUnder the sale, LHI will transfer LHB quote s goodwill […]
Hot Pursuit
The government today expressed its interest to dispose its 39 percent stake in NIC to the highest bidder. The employees control 10 percent of the company. rnrnThe government quote s privatisation arm, the Public Enterprise Reform Commission, has called for Expressions of Interest to be submitted by April 8. rnrnJanashakthi picked up NIC quote s […]
Bargains
An exciting holiday in Malaysia has become affordable to many Sri Lankans under an amazing new package on offer from Emirates till end April.
Northbound
The Mercantile Merchant Bank Ltd (MMBL), one of the two local agents for the Western Union has set on a aggressive expansion drive that will double its 25 sub agent network by the end of this year. rnrnldblquote We are looking at areas with high inward remittances. In North and East we will be opening […]
Accounting Online
The solution combines IT hardware from IBM, accounting software from Golden Key and telecommunication services of SLT to give companies a ready to use accounting solution simply by logging on to a secure server.rn rnCompany offices say solution will reduce client side cost as they would not have to invest in hardware and expensive software […]
Starry Nights
After weeks of frenzied speculation, maneuvering and an advertising blitz, Grant McCann Erickson clinched the campaign of the year, at the Sri Lanka Institute of Marketing quote s (SLIM) annual advertising awards last night.rnrn
Picking Up Lost Time
Spearheaded by the Labour Ministry, the initiative will be in the form of a five-year rolling plan, a draft policy of which has already been drawn up. rnrnSponsored by the United States Agency for International Development (USAID), the policy will be managed and implemented by the Labour Ministry. rnrnAt a productivity growth rate of three […]
Breaking Boundaries
Suntel wOw has signed up with Dialog, Celltel and Mobitel enabling its portal users to send SMS to these networks. rnrnHowever, Celltel and Mobitel users have the added advantage of replying back to the wOw SMS. rnrnldblquote This is a major break through facilitating interactivity between two different means of communication endash the Internet and […]
Poor Show
The bank is also planning to raise Rs.1 bn to its Tier II capital ratio through a debt instrument or preference shares, to improve its total capital ratio to 11 percent from current 9.53 percent. rnldblquote We have been through hard times, but never like this before dblquote , HNB quote s Managing Director Rienzie […]