Category: Industry
Sri Lanka’s Watawala Plantations to separate tea business
June 30, 2017 (LBO) – Sri Lanka’s Watawala Plantations is planning to set up a separate company relating to the tea business segment of the company by segregating its operational assets and liabilities. The firm said in a stock exchange filing that the said assets and liabilities will be vested in the new limited company […]
Sampath Bank to raise Rs6bn in listed debt; Deshal resigns
June 30, 2017 (LBO) – Sri Lanka’s Sampath Bank plans to raise as much as 6 billion rupees from a sale of debentures which will be quoted on the Colombo Stock Exchange. The bank said in a stock exchange filing that they wanted to sell 40 million listed unsecured subordinated convertible debentures at 100 rupees […]
PUCSL asks power utility to develop 12 new generation scenarios
June 30, 2017 (LBO) – Sri Lanka’s Public Utilities Commission of Sri Lanka (PUCSL) has asked the Ceylon Electricity Board (CEB) to submit 12 scenarios which will provide different power plant combinations by 7th of July 2017. Issuing a statement the PUCSL said these scenarios should be developed with updated prices for coal, natural gas […]
Sri Lanka technical interns to be trained in Japan
June 29, 2017 (LBO) – Sri Lanka is to sign a memorandum of understanding with International Manpower Development Organization of Japan (IM Japan) to send technical interns to Japan for further training. The cabinet nod has been received to sign this agreement presented by Foreign Employment Minister Thalatha Athukorala, said Co-cabinet Spokesman Minister Gayantha Karunathilake, […]
Siyapatha Finance to raise Rs1bn in listed debt
June 29, 2017 (LBO) – Sri Lanka’s Siyapatha Finance is planning to raise as much as one billion rupees from a public offer of debentures which will be quoted on the Colombo Stock Exchange. Siyapatha Finance said in a stock exchange filing that the company wants to sell 10 million listed rated unsecured subordinate redeemable […]
Sri Lanka tourism office grades restaurants in Colombo
June 29, 2017 (LBO) – Sri Lanka Tourism Development Authority (SLDA) has launched a project to encourage upgrading of food safety, hygiene and services of places supplying meals for foreign and local tourists. The project named “Certification Scheme for Tourist Friendly Eating Places” is carried out with the participation of the Health Ministry and Colombo […]
Asbestos industry warns of economic, social and environmental impact from ban
June 29, 2017 (LBO) – Sri Lanka’s Minister of Technology and Research said that he was awaiting reports regarding the safe use of Chrysotile, a type of asbestos from the Industrial Technology Institute (ITI), after he had been moved to research claims being made by industry players in the roofing sheet industry. “Policymakers are working […]
Celogen Lanka opens USD6.6Mn pharmaceutical plant in Pallekelle
June 28, 2017 (LBO) – Celogen Lanka (Pvt) Ltd has opened a new pharmaceuticals manufacturing plant with an investment value of 6.6 million dollars at the BOI Kandy Industrial Park at Pallekelle. The manufacturing facility, a joint venture between Sri Lankan and India, was formally opened by President Maithripala Sirisena, the Board of Investment said […]
‘s SAGT goes live with Navis terminal system
June 28, 2017 (LBO) – Navis, a part of Cargotec Corporation, a provider of operational technologies and services across the shipping supply chain, said South Asia Gateway Terminal (SAGT) in the Port of Colombo has successfully gone live with Navis’ N4 terminal system and N4 Billing. “SAGT selected the Navis terminal system to better optimize […]
Ceylinco Life Fund crosses Rs80 bln mark
(PRESS RELEASE) The Life Fund of Ceylinco Life crossed Rs 80 billion in May 2017, making it the fastest-growing Life Fund in the local industry, the life insurance market leader has announced. The company said this milestone was achieved in a little more than 29 years of operation, a feat as yet unmatched in Sri […]
Anilana Hotels to sell 51-pct stake to Somap International
June 28, 2017 (LBO) – Sri Lanka’s Anilana Hotels said an international firm Somap International (Private) Limited plans to invest in up to 51 percent of the company by way of an issue of new shares, with a total investment of 667 million rupees. Accordingly, 513 million new shares will be issued at a price […]
Malinga to face inquiry for breach of contract terms, emergency ExCo called
Sri Lanka Cricket today announced that it had called an Emergency meeting of its Executive Committee at 7 pm at SLC Headquarters in order to table & regularize the following agenda items. * Resignation of Mr. Graham Ford * Interim appointment of National Team Head Coach * Disciplinary inquiry against Mr. Lasith Malinga * Under […]