Category: Industry
Rating Action
Oct 30, 2012 (LBO) – Commercial Leasing and Finance Company Limited, a unit of Sri Lanka’s LOLC group has been rated (SL)A- with a stable outlook by ICRA Lanka, a rating agency. ICRA has also rated Lanka Orix Finance Plc, another unit (SL) A- in August. The parent holding company was also rated (SL) A […]
Sri Lanka Asia Pacific forum to explore trade boosting tools
Oct 29, 2012 (LBO) – A trade forum in Sri Lanka with the participation of 30 countries in Asia and the Pacific starting will identify priority areas for integration, and new tools and services to increase the efficiency of cross-border transactions, its organizers said. The Asia Pacific Trade Facilitation Forum 2012 (APTFF) on the theme […]
Consolidation
Oct 26, 2012 (LBO) – Sri Lanka’s Seylan Bank has reported profits of 589 million rupees for the September 2012 quarter up 48.5 percent from a year earlier, helped by lower investment provisions, interim accounts showed. The bank reported earnings of 1.74 rupees per share for the quarter. In the nine months to September the […]
No Longer
Oct 26, 2012 (LBO- Sri Lanka’s LOLC group’s ratings have been withdrawn by Fitch Ratings though the underlying ratings with negative outlooks have been confirmed. The parent LOLC’s BBB+(lka) rating, two steps up in the investment grade which also applies to 1.25 billion rupees of senior debt securities has been confirmed. LOLC’s ratings were confirmed […]
Sri Lanka exports fall 13.1-pct in Aug
Oct 25, 2012 (LBO) – Sri Lanka’s exports fell 13. 1 percent to 828.9 million US dollars in August 2012 from a year earlier led by tea, while imports fell 4.7 percent to 1,750 million US dollars, official data showed. Tea exports fell 32.7 percent to 95.7 million US dollars and apparel exports fell 3. […]
Sri Lanka East West Properties to build more hotels
Oct 25, 2012 (LBO) – Sri Lanka’s East West Properties Plc, plans to build more hotels chairman Nahil Wijesuriya has told shareholders, with the first hotel to be managed by US based Marriot group as already announced. East West is building a 200 room hotel in Weligama Bay between Gall and Matar on Sri Lanka’s […]
Jetwing sweeps top Sri Lanka spots at World Travel Awards
Oct 25, 2012 (LBO) – Sri Lanka’s Jetwing leisure group has swept has snagged top spots for the island at World Travel Awards, a 20 year old event whose organizers say is based on votes of travel professionals and consumers. Jetwing Vil Uyana, built around a man-made wetland has been named Sri Lanka leading boutique […]
‘s MAS group launches amanté lingerie in home market
Oct 24, 2012 (LBO) – Sri Lanka’s MAS group, which claims to be South Asia’s largest lingerie maker with a billion US dollars of annual revenues has launched its amanté brand in the island after being first released in India in 2007. The firm said it is targeting women between the ages of 21-45 who […]
” rating confirmed: RAM
Oct 24, 2012 (LBO) – RAM Ratings has confirmed an ‘AAA’ rating for Sri Lanka Insurance Corporation, on its competitive position, state ownership and its systemic importance as the second largest premium collector. RAM Ratings Lanka reaffirms Sri Lanka Insurance Corporation Ltd’s ratings at AAA/P1 RAM Ratings Lanka has reaffirmed Sri Lanka Insurance Corporation Ltd’s […]
Sri Lanka state carrier opens sales office in Wennappuwa
October 24, 2012 (LBO) – State-run SriLankan Airlines said it is opening a sales office in Wennappuwa, north of Colombo in the island’s north western region. 2nd Chance Travels (Pvt) Ltd will operate the passenger sales agency office at No 92, Main Street, Wennapuwa. The airline’s Wennapuwa office will be the third official sales agency […]
Common User
Oct 24, 2012 (LBO) – Sri Lanka’s East West Properties Plc, which has interests in warehousing and tourism will rent out broadcast towers after it acquired a media firm with access to spectrum. East West Properties and the time funded the project with a loan, according information disclosed in annual reports at the time. East […]
Sri Lanka tourist arrivals up 18-pct in September
Oct 24, 2012 (LBO) – Sri Lanka’s tourist arrivals rose 18. 1 percent to 71,111 in September 2012 from a year earlier, with arrivals during the nine months up 16 percent to 693,772 data from the Indian Ocean island’s tourist promotion office showed. Arrivals from the Middle East fell 13 percent to 4,166. East Asian […]