Category: Industry
PROVIDORE, Sri Lanka’s newest grocery tech platform, partners with EFutures – to leverage companywide operations as well as customer experience.
Specializing in groceries and essential items, N7T partnered with EFutures to build a holistic and inter-connected digital presence via e-commerce platform PROVIDORE. The concept was founded on the ambition to create the most user-friendly and functional technology to alleviate the hassles of traditional grocery shopping. “Customer experience shouldn’t be a compromise when shopping online”, says […]
CBSL starts increased compensation payment to depositors of failed finance companies
The Central Bank (CBSL) has commenced payment of the increased compensation amount of Rs 500,000/- under the Sri Lanka Deposit Insurance and Liquidity Support Scheme (SLDILSS), to the depositors / relevant legal beneficiaries of Central Investments and Finance Limited (CIFL), The Standard Credit Finance Limited (TSCFL), TKS Finance Limited (TKSFL), The Finance Company PLC (TFC), […]
Prime Lands Residencies expected to make IPO bid soon
Prime Lands Residencies (Pvt) Ltd, the condominium property arm of Prime Group, recently celebrated a milestone achievement upon the completion of its 35th property project. Issuing a statement to mark this occasion the firm says it will be making it’s Initial Public Offering (IPO) in the near future. This development, the company says will certainly […]
Aitken Spence acquires Waltrim Energy for Rs.900Mn
Aitken Spence PLC has acquired 100 percent of shares of Waltrim Energy Limited, a sub-subsidiary of Sunshine Holdings PLC, for a total consideration of 900 million rupees, a company statement said. The company in a stock exchange filing by Aitken Spence, Waltrim Energy operates three hydropower generation plants in Nuwara Eliya, with a total capacity […]
Optimism among Swedish companies doing business with Sri Lanka
Growth over the past five years, negative development in 2020 and optimism for 2021. These are some of the key takeaways from the Sweden-Sri Lanka Business Council’s membership survey for 2021. Among the members’ most prioritized issues are simplified visa rules to Sri Lanka and to Sweden, increased attention for Sri Lanka from the Swedish […]
LECO consumers to get interest for security deposits of electricity
The Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator together with Lanka Electricity Company Private Limited (LECO) yesterday launched an interest pay scheme for security deposits of electricity for LECO consumers at the BMICH. Payment of interest on electricity consumer deposits is a benefit provided to the consumer under Section 28 of […]
”; Outlook stable
Fitch Ratings has affirmed Sri Lanka-based consumer and healthcare company Hemas Holdings PLC’s National Long-Term Rating at ‘AAA(lka)’ with a Stable Outlook. The affirmation reflects the defensive nature of Hemas’ operating cash flows stemming from its pharmaceutical trading and manufacturing, and fast-moving consumer goods (FMCG) businesses, which account for more than 90% of the group’s […]
NEM Construction receives record consignment from Udeshi Group
UTRAX®, the construction equipment division of the Udeshi Group, has successfully completed the handover of the country’s single largest order of hydraulic excavators to date, in turn contributing significantly to Sri Lanka’s fast-expanding infrastructure development efforts. The island’s leading commercial and industrial equipment supplier and exclusive distributor of Sumitomo excavators in Sri Lanka, officially handed […]
Entry requirement for Sri Lankans lifted
Under the directive of President Gotabaya Rajapaksa, the Foreign Ministry reviewed the entry procedure today, 06 April 2021, as a measure of relief for prospective Lankan returnees. Under the new procedure, Sri Lankans, dual citizens who travel on Sri Lankan passports, spouses and unmarried children of Sri Lankans, who are foreigners, and Sri Lankan seafarers arriving by […]
From mine to market – showcasing Sri Lanka’s jewellery legacy to the world
The Sri Lanka Gem and Jewellery Association (SLGJA) hosted their second Key Person’s Forum for the industry recently, with the objective of facilitating the industry during this pandemic period and boosting overall tourism in collaboration with the Ministry of Tourism. The forum was conducted with Prasanna Ranatunga, State Minister of Tourism, Lohan Ratwatte, State Minister […]
Vidullanka to restructure operations; amalgamate its subsidiary Walagamba Balashakthi
Vidullanka PLC has resolved to amalgamate its fully owned subsidiary, Walagamba Balashakthi (Pvt) Limited with Vidullanka PLC, the company said in a stock exchange filing. The amalgamation is to be carried out without any consideration, and as per the provisions of section 242 (short form amalgamation) of the Company’s Act. Presently, Walagamba Balashakthi (Pvt) Limited […]
SANASA Development Bank to raise capital via a Secondary Public Offering
SANASA Development Bank has resolved to raise capital through the issuance of new Ordinary Voting Shares to the public via a Secondary Public Offering (SPO), the bank said in a stock exchange filing. The SPO under consideration constitutes of an invitation to the public, by way of a Prospectus, to subscribe up to Sixty Eight […]