Category: Industry
Ekuinas sells APIIT Lanka for RM41mil
KUALA LUMPUR: Ekuiti Nasional Bhd (Ekuinas) has disposed of its entire equity interest, together with its minority partners in APIIT Lanka Pvt Ltd (APIIT Lanka), based on an enterprise value of approximately RM41mil to BG Investments Pte Ltd. “We are pleased to report that the divestment generated a gross internal rate return (IRR) of 17.5% […]
BOI inks agreement with edotco to equip Sri Lanka with Smart City Solutions
July 17, 2019 (LBO) – The Board of Investment (BOI) and edotco Sri Lanka, an integrated telecommunications infrastructure services company today entered into an agreement to invest in the latest Smart City solutions and energy-efficient systems. Under this agreement, the BOI grants edotco Sri Lanka the approval to deploy urban smart solutions throughout the country […]
SenzMate, the Internet of Things tech company born in Jaffna
By Jekhan Aruliah I visited SenzMate a few months ago, and am only now getting around to writing about them. The reason for my hesitation has been although this is a Jaffna born company it is no longer in Jaffna. My objective in these articles is to root for businesses to move North. SenzMate had […]
PUCSL, Moratuwa Uni to introduce self-powered housing model for low-income households
July 16, 2019 (LBO) – Sri Lanka’s electricity sector regulator, Public Utilities Commission signed a Memorandum of Understanding with Moratuwa University yesterday to introduce a self- powered housing model for low-income households. The aim is to provide the best architectural housing structure with the use of maximum daylight for low-income households. “Energy Conservation is one […]
‘s Sinopec sets up fuel oil unit in Sri Lanka
July 16, 2019 (LBO) – China Petroleum and Chemical Corp, Sinopec Corp has launched a fuel oil company in Sri Lanka as it looks to supply fuel to ships along a major maritime route, foreign media reported. Sinopec says the market to supply fuel to ships has “huge” potential, citing the strategic location of Hambantota […]
JICA supports “Build-Back-Better” tourism sector in Sri Lanka
July 15, 2019 (LBO) – The Japan International Cooperation Agency (JICA), in cooperation with the Tourism Ministry, successfully completed a joint seminar for the “Recovery of Tourism Sector in Sri Lanka after the Easter Bombings 2019” targeting officials and professionals in the tourism sector. The presenter Masato Takamatsu, the Managing Director & Chief Research Officer […]
England wins 2019 Cricket World Cup
Jul 15, 2019 (LBO) – England pulled off the greatest World Cup final win over New Zealand to secure cup after a nail-biting tie-break finish, Sunday at Lords. Both teams ended up equals, not once, but twice.First, in the regular game, then in the Super Over. Eoin Morgan’s side finished on 241 all out in […]
‘s “Enterprise SL” exhibition goes to A’pura in July
Jul 15, 2019 (LBO) – The Finance Ministry’S “Enterprise Sri Lanka” exhibition will be held in Anuradhapura from July 24-27. This exhibition will be a platform for intended entrepreneurs to obtain the knowhow and share knowledge on the enterprise development. Arrangements have been made through the State and private banks and other relevant agencies to […]
”; outlook stable
July 12, 2019 (LBO) – Fitch Ratings Lanka has downgraded Bimputh Finance PLC’s National Long-Term Rating to ‘BB-(lka)’ from ‘BB(lka). The Outlook is Stable. The downgrade stems from a sharp deterioration in Bimputh’s capital position, which they believe is no longer commensurate with its high-risk appetite. This is due to the significant decline in asset […]
John Keells empowers skills development of over 9200 youth in 2018/19
(PRESS RELEASE) “When I came home with my poor O/L results, my father asked me what I would do with my life now? He actually gave up on me. It was my mother who stood by me, pushed me and supported me when I decided to apply for the John Keells Vocational Training Programme last […]
‘s aircraft landed Sri Lanka only for crew rest & refueling: Civil Aviation Authority
July 09, 2019 (LBO) – Sri Lanka’s Civil Aviation Authority says the private aircraft ZS-ASN landed at the Bandaranaike International Airport only for crew rest and refueling. The authority emphasized in a statement that there is no equipment in the aircraft used for any surveying purpose, as declared by the operator in its application. Full […]
BOI signs deal with Japanese company to set up Boutique Hotel with USD 8.4Mn investment
July 10, 2019 (LBO) – Sri Lanka’s Board of Investment recently signed a new investment agreement with Wakana JPN (Pvt) ltd. to construct and operate a 21-roomed new boutique hotel in Ahungalla, with an investment of 8.4 million US dollars. The Agreement was signed on behalf of the BOI by Chairman Mangala Yapa and on […]