Category: Industry
Ceylinco Insurance, Sri Lanka profits down 13-pct
May 15, 2014 (LBO) – Profits at Sri Lanka’s Ceylinco Insurance Plc, the largest insurer by revenue fell 13 percent to from a year earlier to 285 million rupees in the March 2014 quarter, interim accounts showed.Gross assets rose to 90.9 billion rupees by end March 2014 from 87.4 billion rupees in December. Net assets […]
Mixed Blessings
May 15, 2014 (LBO) – Profits at Sri Lanka’s state-run Bank of Ceylon group fell 1.9 percent from a year earlier to 2.64 billion rupees in the March 2014 quarter with loan loss reversals and trading gains, offsetting flat net interest income. Financial investments held-to-maturity rose to 206 billion rupees from 157 billion rupees. Fees […]
Heavy Seas
May 15, 2014 (LBO) – Profits at Colombo Dockyard Plc, a unit of Onominchi Japan’s Onomichi Dockyard said profits fell 61 percent in from a year earlier to 130 million rupees in the March 2014 quarter amid rising expenses, interim account showed.The firm reported earnings of 1.82 rupees for the quarter. The stock closed at […]
Cricket: Cook sets up Essex win over Sri Lanka
LONDON, May 13, 2014 (AFP) – Alastair Cook’s quickfire knock helped ensure Sri Lanka’s first match in England this season ended in defeat. England captain Cook struck 71 as his county, Essex, made 161 for five in a one-day match reduced by rain to 21 overs per side at Chelmsford on Tuesday. In reply Sri […]
Tight Quarter
May 14, 2014 (LBO) – Profits at Sri Lanka’s Hatton National Bank group fell 13 percent from a year earlier to 1.09 billion rupees in the March 2014 quarter as net interest income fell and loan losses went up, interim accounts showed. At stand alone bank level, gross non performing loans rose to 4.53 percent […]
‘s TATA Housing starts US$400mn Sri Lanka property project
May 13, 2014 (LBO) – India’s TATA Housing has started a 400 million US dollar mixed development in Colombo with state-run Urban Development Authority, as part of a regeneration effort, officials said.In the first stage which started Monday the firm will build a four-tower apartment block with 650 units which will house 582 families and […]
Krrish given three months to pay for Sri Lanka land
May 13, 2014 (LBO) – India’s Krrish which has been given city centre land in Sri Lanka’s capital Colombo is expected to settle its balance payments in three months, an Urban Development Authority official said.Perera said Krrish had recently signed an agreement with a construction contractor, which had been shown to them, they he was […]
One Off
May 13, 2014 (LBO) – Profits at Sri Lanka Telecom, the island’s only wireline operator which also has mobile and pay television fell 66 percent to 547 million rupees, following the loss of a legal battle, interim accounts showed. The group reported earnings of 30 cents per share for the quarter. Revenues rose 6 percent […]
Smart Trend
SINGAPORE, May 11, 2014 (AFP) – Xiaomi may be little known outside China, but the fast-growing smartphone maker is at the forefront of a new wave of Asian brands challenging the dominance of Apple and Samsung with high-spec, low-price phones.“As smartphones become more commonplace… consumers in emerging markets will become more demanding and willing and […]
Asset Retreat
May 12, 2014 (LBO) – Profits at Sri Lanka’s Sampath Bank rose 21 percent from a year earlier to 1,2 billion rupees in the March 2014 quarter helped by loan loss reversal and other income while net interest income fell. The group reported earnings of 7.50 rupees per share for the quarter. Group interest income […]
Margin Growth
May 12, 2014 (LBO) – Sri Lanka’s Commercial Bank of Ceylon said profits rose 2 percent in the March 2014 quarter to 2,301 million rupees from a year earlier, with helped by higher net interest income and trading gains.The group reported earnings of 2.71 rupees per share, in interim accounts filed with the Colombo Stock […]
Debt Raising
May 11, 2014 (LBO) – Sri Lanka’s Waterfront Properties (Pvt) Ltd, a unit of John Keells Holdings that is building an integrated resort has started raising foreign debt with Standard Chartered being appointed advisor. Standard Chartered Bank had given the first 100 million US dollars, as bridging finance for the first phase of the project, […]