Category: Industry
Tele Profits
Feb 20, 2012 (LBO) – Sri Lanka Telecom group, the island’s only wireline operator which also has a mobile unit has reported profits of 877 million rupees for the December 2012 quarter down 29 percent from a year earlier. SLT Publications had seen revenues grow 25 percent to 516 million rupees and pre-tax profits growth […]
Sri Lanka to start aerial whale watching
Feb 20, 2013 (LBO) – Simplify, a Colombo based aircraft operator said it planned to offer whale watching services using a newly delivered 5-seater amphibian aircraft it was managing for a third party. Simplify also has its own fleet.It operates operates a Bell Jet Ranger helicopter, a GA8 airvan, a Cessna 206 amphibian aircraft and […]
Tax Effects
Feb 19, 2013 (LBO) – Sri Lanka’s registrations of BMW luxury cars rose 280 percent in January 2013 from a year earlier following changes to taxes while new registrations of small Maruti/Suzuki models plunged 84 percent, data compiled by an equities research house show.Monthly data from Sri Lanka’s motor vehicle registry compiled by JB Stockbrokers […]
Sri Lanka begins re-building Hamilton canal as tourist attraction
Feb 19, 2013 (LBO) – Sri Lanka has begun re-building a colonial era canal north of the capital Colombo as an eco tourism attraction due to its access to nearby wetlands, the island’s economic development ministry said.A 600 million rupee project to rebuild the canal banks, clear silt and spruce up the surroundings had been […]
‘s SilverNeedle hotels
Feb 19, 2012 (LBO) – Singapore-based SilverNeedle Hospitality said it is entering Sri Lanka with a 200 room hotel as part of a 100 million US dollar joint venture mixed development with the island’s Abans group. Abans is a group with 250 million US dollar a year in revenues and says it is the largest […]
Net Interest
Feb 19, 2013 (LBO) – Sri Lanka’s The Finance Company Plc’s lost 510 million rupees in the December 2012 quarter up from a loss of 17 million rupees a year earlier, while nine month losses were 1.26 billion rupees, interim accounts showed. The firm reported earnings of 3.18 rupees for the quarter. In the nine […]
Oil Offer
Feb 18, 2013 (LBO) – Sri Lanka is kicking of a second licensing round for off-shore oil blocks with road show starting in Houston on March 07, reports said.A notice on Sri Lanka’s petroleum resources development office said bidders conferences will also be held in London on March 12, and in Singapore on March 21 […]
Oil Plans
Feb 18, 2013 (LBO) – Sri Lanka is planning to offer up to 11 off-shore oil blocks on production sharing deals in a bidding round that will close around September and others where less data is available for joint study, a media report said. Sri Lanka is to open a second bidding round in March […]
Diversifying Strategy
Feb 18, 2013 (LBO) – LankaIOC, a unit of Indian Oil Corporation is planning to deal in petrochemicals such as polyethylene and polypropylene, to diversify its product portfolio, an official said.Dakwale told reporters earlier this month that the firm was planning to retail Euro III grade diesel following a request from Sri Lanka’s motor sector.It […]
Sri Lanka central hill city to get mixed development
Feb 18, 2013 (LBO) – A twin tower property project made up of apartments, hotel and restaurant will be built in the central hill city of Kandy by a firm promoted by expatriate Sri Lankans from the area, the island’s investment promotion office said. Sri Lanka’s Board of Investment said the project by GVR Lanka […]
Eyeballs
Feb 18, 2013 (LBO) – Sri Lanka’s Dialog Television (DTV) a unit of Dialog Axiata offering satellite based pay television said subscribers grew 23 percent to 264,000 in 2012 from a year earlier. But profits after tax fell 57 percent to 11 million rupees in 2012 from a year earlier due to an equipment write-down, […]
Chat Profits
Feb 18, 2013 (LBO) – Sri Lanka’s Dialog Axiata, which has interest in mobile, fixed telecom and pay television said group profits fell 30 percent to 928 million rupees in the December 2012 quarter from a year earlier, dragged down by write-offs. The group reported earnings of 12 cents per share for the quarter. For […]