Category: Industry
NDB trades below rights issue price of 105 on last day for subscription
October 4, 2018 (LBO) – Colombo Stock Exchange (CSE) listed National Development Bank (NDB) traded at Rs104 per share before noon on the last day for acceptance and payment of its rights issue. NDB is attempting to raise funds via a rights issue to bolster the capital of the bank. The bank is trying to […]
Sri Lanka tea prices marginally up in Sept 2018
Oct 04, 2018 (LBO) – Auction average for the month of September 2018 totalled Rs.537.77 compared to Rs.534.02 of August 2018 showing a marginal increase of Rs.03.75 month on month, a new report said. “However in comparison to September 2017 average of Rs.635.40 it shows a substantial decrease of Rs.97.63,” Forbes & Walker Tea Brokers said […]
Ceylon Motor Traders Association pushing for registration of vehicle importers
Oct 04, 2018 (LBO) – Ceylon Motor Traders Association (CMTA) suggests that the Government implements a scheme to register vehicle importers as it could be a first step towards controlling the quality and quantity of imports of motor vehicles. Releasing a statement, the association said through the registration, the consumer is at least to some […]
M Power Capital raises Rs 1.5Bn in corporate debt
(PRESS RELEASE) – Sri Lanka’s M Power Capital Limited (MPC) initially focused on mergers and acquisitions, other corporate finance advisory mandates and middle market related private equity transactions.With the addition of a specialist debt team in 2018, MPC has now mobilised over 1.5 billion rupees for issuers of debt securities, other corporate debt instruments as well […]
Sampath Bank named Sri Lanka’s “Most Innovative Bank” for 2nd consecutive year
(PRESS RELEASE) – Sampath Bank was recognized as Sri Lanka’s “Most Innovative Bank” for the second consecutive year at the LankaPay Technnovation Awards held at Shangri-La Hotel, Colombo, recently. The Bank also bagged the “Best Bank for Retail Payments” and “Best Common ATM Acquirer of the Year (Category B)” awards and emerged as the overall runners […]
Demand growth and urbanisation fuel Sri Lanka’s retail sector: OBG
Oct 03, 2018 (LBO) – Rising demand and an accelerating population shift to major urban centres is driving activity in Sri Lanka’s retail sector, however, recent pressures on domestic spending power could curb sales in the shorter term, Oxford Business Group said. Releasing their latest Sri Lanka economic update, Oxford Business Group said despite these short-term […]
” rating; outlook stable
Oct 03, 2018 (LBO) – Fitch Ratings has assigned Sri Lanka-based conglomerate Melstacorp a National Long-Term Rating of ‘AAA(lka)’ with a stable outlook. Fitch said Melstacorp’s rating reflects the group’s strong credit profile, underpinned by its entrenched market position in Sri Lanka’s alcoholic-beverage sector and the high entry barriers, which drive its strong operating cash flows […]
LOFC, CLC, Brac Lanka Finance propose to list debt & remove equity from CSE
Oct 03, 2018 (LBO) – Commercial Leasing & Finance, LOLC Finance, and Brac Lanka Finance have proposed to list its debt securities and remove all equity securities from the Colombo Stock Exchange. Director Boards of these companies have disclosed to their shareholders that this action is required to ensure that they are not in violation […]
Reigning Miss World visits Sri Lanka
Key officials of the Miss World Organization including the Reigning Miss World arrived in Sri Lanka on Sunday 30th September on an exploration visit of the island.The high profile delegation is looking at the possibility of selecting Sri Lanka as the host nation for the world renowned pageant in 2020 or 2021. The delegation paid […]
‘s consumer durable retailers
Oct 03, 2018 (LBO) – Sri Lanka’s consumer durable retailers’ operating cash flow is likely to weaken following new government regulations that impose a 100 percent cash margin on the import of most types of consumer durables, Fitch Ratings says. The credit profiles of rated retailers, such as Singer (Sri Lanka) PLC (A-(lka)/Stable) and Abans […]
327 new Chartered Accountants, 158 conferred FCA designation: CA Sri Lanka
Oct 03, 2018 (LBO) – The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) conferred the distinguished Associate Chartered Accountants (ACA) designation to 327 new Chartered Accountants. 158 existing members of the institute, were conferred with the Fellow Chartered Accountant (FCA) status, elevating them to the highest stratum in their professional careers. Issuing […]
Govt. expenditure for 2019 Rs.4,376Bn : Budget deficit 4.1-pct
Oct 02, 2018 (LBO) – As per the Appropriation Bill, which was presented to the Cabinet recently by Finance and Media Minister, Mangala Samaraweera, next year’s annual state expenditure will be 4,376 billion rupee.The budget deficit will be 644 billion rupees, 4.1 percent of Gross Domestic Product, the Finance Ministry said issuing a statement. The Government […]