Category: Industry
First Steps
The bank quote s CEO Nihal Jayawardene declined to give the quantum required, but said they were on the look out to private investments. rnrnMERC Bank plans to achieve a break even by mid 2003 and current performance is in line with the target, Jayawardene told Lanka Business Online in an interview. rnrnThe bank is […]
Debt – BBB
SL BBB rating denotes a low expectation of credit risk. rnrnldblquote The capacity for timely payment of financial commitments is considered adequate, but adverse changes in circumstances and in economic conditions are more likely to impair this capacity, dblquote Fitch says in a release. rnrnThe rating takes into account SF quote s strong balance sheet […]
Sampath wins
The Appeal Court upheld an earlier District Court decision, which barred HNB and its associates from selling the excess shares of Sampath Bank that was bought in the market last year. rnrnToday quote s ruling prevents both groups from voting on their holdings in Sampath Bank until court proceedings are complete. rnrnThe ruling also said […]
Revelations
Complex financial transactions that include income securatisations and sale of loans have been increasingly used by local financial institutes to raise capital and improve their profitability. rnrnldblquote At minimum financial statements should include a disclosure about the complex financial transaction. The disclosure should explain the transaction and risk and rewards the company is exposed to […]
Jaya Spun Off
The new company will be known as Jaya Container Terminals Ltd and will be managed by a board of nine directors appointed by the Shipping Minister. rnrnAccording to shipping analysts, Jaya Terminal would stand to lose large volumes of container handling to the private sector managed South Asia Gateway Terminal (SAGT), if it continued under […]
Swapping For More
The swap would hedge the Horana plant quote s interest rate risk, by converting its US$ 10.8 mn floating rate, which is pegged to the three months London Inter Bank Offered Rate debt into a fixed rate. rnrnAitken Spence opted for the move, after US dollar interest rates reached historic lows following the US economic […]
Tussel For Bunkering
The announcement was expected today but has now been shelved for the weekend. rnFully owned by Ceylon Petroleum Corp, LMS has bonded warehouses at the Colombo port. rnThe Public Enterprise Reform Commission (PERC) is expected to dispose LMS quote s controlling stake, which can even go up to 90 percent. rnrnAround 15 companies including top […]
Catching Up
ldblquote We are re-visiting our original strategic plan, taking in to account the experiences gained during the last two years dblquote , JKH Director Ajit Gunawardene told Lanka Business Online. rnrnldblquote There will be no major changes to the overall strategic direction dblquote , he said. NTB will continue to focus on gaining competitive advantage […]
Soft Hopes
A Microsoft spokesperson said they hoped that greater awareness would encourage computer users to consider purchasing original software.rn rnIn addition they feel that when companies like Microsoft take an interest in growing markets like Sri Lanka, it highlights the importance and advantages of using original software. rn rnldblquote Price would definitely be a factor and […]
Forward Farmers
One of the key problems that hamper agriculture these days is price volatility.Primary agricultural markets have traditionally been volatile, with problems sometimes getting out of hand by ad hoc government policies. Attempts to restore price stability with guaranteed price increases have seen limited success.rnrnWith crashing markets spelling ruins for many farmers, the Central Bank initiated […]
Fighting for Custody
Fitch Ratings Lanka quote s CEO is flying out on a rescue mission to try and salvage an impending divorce from its US partner Fitch IBCA.
Talking Terms
iOnosphere, set up shop last July with a US$ 2.5 mn investment to provide high end internet services.A further US$ 1.5 mn was expected to come in during the next stage of the project. rnrnAnura de Silva, iOnosphere quote s CEO told Lanka Business Online that a number of local and foreign parties have expressed […]