Category: Industry
Small Blessings
The announcement is expected within the next few days, which will reduce premiums to 0.0025 percent from the present 0.005 percent of the hull value on vessels calling at the Colombo Port, Sri Lanka Ports Authority Chairman, Parakrama Dissanayake said. rnDissanayake said the war risk committee headed by Lloyds of London had stopped short from […]
Call Through
Anura de Silva, iOnosphere quote s CEO told Lanka Business Online that the new buyers paid lquote a little over Rs. 500 mn for the company quote . rnrniOnosphere, began operations 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 […]
Maldivian Touch
The company recently joined forces with Serendib Leisure Management to acquire Hotel Sinbad in Kalutara. rnrnFollowing a Rs. 90 mn joint investment, the hotel was recently upgraded, pitching themselves now as an all-year round water sports destination. rnrnSituated an hour quote s drive away from Colombo, the hotel has attracted a large number Sri Lankan […]
Calling Home
Interested operators will get a subsidy of Rs. 50,000 per payphone. rnAn individual operator will be entitled to the subsidy for a maximum of 25 payphones subject to a limit of 100 units per district. rnThis subsidy will be available across all 25 districts and will be available to all payphone operators, TRC quote s […]
Get Going
The Council quote s former Chairman Rohan Masakorala told Lanka Business Online that it appears that the London underwriters were dragging their feet on the issue, despite favourable recommendations from the independent foreign security auditors. rnrnldblquote We asked the Minister to lead a delegation to at least waive the surcharge on Colombo and Galle. At […]
Not Yet
Referring to our recent story on JKH, Fitch says: ldblquote The report gives the impression that the meeting between JKH management and FRL analysts was related to impending rating decision with regard to the ldblquote Rating Watch quote currently placed on the company quote s SLAAA rating.Although lquote Rating Watch quote does indicate the possibility […]
Standing Tall
Group turnover grew 21.6 percent or Rs. 553 mn to Rs. 3.1 bn during the period under review. rnrnHowever, the bank quote s net interest income during the third quarter has been lower than the second quarter, due to the sharp reduction in market interest rates. rnrnThe bank says a fall in market rates resulted […]
Book Sale
The company said Singapore based Stamford Press (Pvt) Ltd has shown an interest to acquire Lake House Bookshop quote s assets. rnldblquote Stamford Press has submitted an offer and the Board of Directors are finalising the negotiations, dblquote Lake House said in a statement to the Colombo Stock Exchange today. rnLake House Investments has been […]
Conference Call
The move comes after the government announced yesterday it was renegotiating SLT quote s management contract with Nippon Telegraph & Telephone Corp. (NTT) of Japan. rnrnldblquote The announcement is part of a plan to restructure SLT, dblquote Chairman Thilanga Sumathipala said. rnSLT loses its monopoly on local and international calls in August, and Sumathipala says, […]
Holy Insurance
Takaful is a mutual assurance service based on Islamic finance principles.rnInvestments of the insurance funds are placed in non-interest bearing instruments such as bullions, financing or equities that are permissible in Islam. rnAmana presently has a partnership with Takaful Malaysia, which is a formally regulated company in Malaysia. rnrnThough Amana Takaful was recognised under a […]
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 […]