Category: Industry
Siyapatha Finance to raise Tier 1 capital with a rights issue
May 10, 2018 (LBO) – Sri Lanka’s Siyapatha Finance is planning to raise 250 million rupees by way of a rights issue, the company said in a stock exchange filing. The director board has resolved to increase the Tier 1 capital of the company through this rights issue. Subjected to the regulatory and shareholder approvals, […]
Why Sri Lanka’s unsaturated real estate market works to its advantage
(PRESS RELEASE) Sri Lanka’s now-vibrant real estate market has developed greatly in recent years. Whilst the current growth trajectory has given way for many opportunities to continuously arise, the sector’s growthhas also seen alongside it the rise in property prices. Analysts project that the luxury homes segment could potentially be oversupplying the Sri Lankan market […]
Sri Lanka tourist arrivals up 12.6-pct in April 2018
May 08, 2018 (LBO) – Sri Lanka tourist arrivals increased 12.6 percent in April this year against last year with the largest source market for tourists becoming India, followed by United Kingdom and China. The total number of international tourist arrivals to Sri Lanka during April 2018 was 180,429. In comparison to April last year, […]
Sri Lanka should continue digitization of services to capture millennial tourists :JLL
May 08, 2018 (LBO) – Real estate consultancy Jones Lang La Salle (JLL) says the strong surge in tourist arrivals and earnings, which could be further enhanced by steps to ensure a transparent regulatory framework and improvements in soft infrastructure.Noting that two of Sri Lanka’s largest tourist markets, India and China, will account for 25 […]
Sri Lanka Ports Authority posts 15.3-pct growth in 1Q 2018
May 07, 2018 (LBO) – Sri Lanka Ports Authority has recorded a total growth of 15.3 percent in terms of profits for the first quarter of 2018 with Colombo Port alone posting a 16.2 percent growth. In 2017, Sri Lanka Ports Authority (SLPA) posted 45.6 billion rupees as revenue and a net profit after tax […]
Tourism industry welcomes directive to demolish Illegal structures in coastal areas
The tourism industry has welcomed the directive issued by President Maithripala Sirisena to demolish unauthorized structures in Mirissa and other areas. Minister of Tourism Development and Christian Religious Affairs, John Amaratunga said the President’s unwavering stance on the matter has sent a clear signal to those flouting the law to fall in line. “I salute […]
Harry J says Distilleries profits up 134-pct in 4Q17-18 after adjustments
May 04, 2018 (LBO) – Sri Lankan business magnate Harry Jayawardena in his statement to the shareholders of Distilleries said net profit after tax for the forth quarter of 2017/18 is an increase of 134 percent. Jayawardena said NPAT for the last quarter was 1,902 million rupees compared to the 811.9 million rupees reported in […]
Standard Chartered to boost investment into Sri Lanka with dedicated china desk
May 03, 2018 (LBO) – The Standard Chartered Bank (Sri Lanka) said they would be setting up a China Desk to expedite trade and business operations between the two countries. Chinese companies are showing interest in Sri Lanka under the One Belt One Road intitiative, a senior bank official said. “Many of our clients are now […]
Seylan Bank records 21-pct YoY growth in 1Q 2018; Profit-after-tax Rs.1,053Mn
May 3, 2018 (LBO) – Sri Lanka’s Seylan Bank has posted a profit after tax of 1,053 million rupees in first quarter of 2018. The Bank’s earning per share (EPS) grew by 21.57 percent to 2.88 rupees with the net asset value per share as at 31st March 2018 was 94.34 rupees (Group Rs.98.63). Net interest income […]
Anantaya Pasikudah wins Booking.com guest review award
(PRESS RELEASE) – Anantaya Resort & Spa Pasikudah was recently awarded the Booking.com Guest Review Award. Offering unique experiences and exceptional service, Anantaya Pasikudah was rated a high standard property on Booking.com with an outstanding score of over nine. Commenting on the award received, LAUGFS Leisure Director/Chief Executive Officer, Roshan R. Perera said, “Being awarded the […]
Seylan Bank reports 21-pct growth in 1Q 2018; records PAT of Rs.1,053 Mn
Seylan Bank made a steady start in 2018 by posting a Profit after Tax of Rs. 1,053 Million in Q1 despite less than ideal market conditions. Net interest income increased by 17.21% as the volume growth outperformed the impact arising from the narrowing of NIMs. Net fee and commission income witnessed a growth of 14.61% […]
Sri Lanka rupee slips to low of 158.00: Stocks down 0.2-pct
May 03, 2018 (LBO) – The Sri Lanka rupee hit a new low of 157.90/158.00 rupees against the US dollar during morning trade in the spot market. The rupee closed at 157.75/90 rupees against the US dollar in the spot market, Wednesday. While in the Colombo Stock Exchange,the All Share Price Index closed was trading at 6,530.77 […]