Category: Industry
Risk Management
May 22, 2012 (LBO) – Sri Lanka’s DFCC Bank said it had appointed Trevine Fernandopulle, a senior banker, as its executive vice president and group chief risk officer. Fernandopulle was earlier deputy chief executive at Sri Lanka’s HSBC unit and been chief risk officer at state-run Bank of Ceylon and credit risk manager at Saudi […]
Steady Ship
May 22, 2012 (LBO) – Sri Lanka’s Hatton National Bank PLC retained its AA-(lka) rating from Ftich Ratings, but the risk evaluator warned the bank’s ratings was constrained by exposure to weak lending to the Maldives. One of Sri Lanka’s biggest privately-held banks, HNB retained its stable outlook, while Fitch also affirmed the lender’s sub-ordinated […]
‘s Amaya Leisure March net up 68-pct
May 21, 2012 (LBO) – Profits at Sri Lanka’s Amaya Leisure, a unit of listed Hayleys group rose 68 percent in the March 2012 quarter as strong tourist arrivals boosted revenues, interim accounts showed. Administrative expenses were kept under check rising only 7 percent to 90. 6 million rupees. The group also has carry forward […]
Mortgage Lending
May 20, 2012 (LBO) – Profits at Sri Lanka’s HDFC Bank, a mortgage lender quarter rose 79 percent to 125 million rupees the March 2012 quarter helped by higher interest income, interim accounts showed. The bank reported earnings of 1. 94 rupees for the quarter. The stock traded at 54.60 rupees, up 80 cents Friday. […]
Sri Lanka on Tiger Airways Asian promotion
May 19, 2012 (LBO) – Singapore based Tiger Airways, a budget carrier, said it was kicking off a promotion to Asian destinations in June as it adds Sri Lanka to its network. “Travellers looking for a different holiday in the region will be amazed at what multi-faceted Asia has to offer,” Stewart Adams, managing director […]
Boat Protection
May 19, 2012 (LBO) – Sri Lanka will make boats more expensive for fishermen in a bid to fatten the profits of boat builders, the island’s industries ministry said, in the latest in a series of move to restrict economic freedoms of citizens. Fishermen had won the freedom to import boats freely after a tsunami […]
Retail Diagnostics
May 17, 2012 (LBO) – Sri Lanka’s Lanka Hospital Corporation said it will set up a diagnostic laboratory network with India’s Fortis Healthcare in which it will invest 831 million rupees over the next two years. Lanka Hospitals, a unit of state-run Sri Lanka Insurance, will float a fully owned unit to operate the labs. […]
Sri Lanka Ceylinco Insurance March net down 23-pct
May 17, 2012 (LBO) – Profits at Sri Lanka’s Ceylinco Insurance in the March 2012 quarter fell 23 percent to 220 million rupees, from a year earlier, though premium income rose 13 percent to 5. 5 billion rupees, interim accounts showed. The firm reported earnings of 8.35 rupees for the quarter. The stock traded at […]
Break Even
May 16, 2012 (LBO) – Lanka IOC, a unit of Indian Oil Corporation made profits of 41 million rupees in the March 2012 quarter, recovering from a 111 million rupee loss a year earlier interim accounts showed. Petrol and diesel retail prices were raised in February. The firm reported earnings of 8 cents per share. […]
Sri Lanka April tourist arrivals up nine percent
May 16, 2012 (LBO) – Sri Lanka’s tourist arrivals rose 9. 0 percent to 65,591 in April this year, which helped raise the number of holidaymakers for the first four months of 2012 to 330,116, official data showed Wednesday. The Eastern European market expanded 42. 9 percent to 26,980 visitors in April this year, helped […]
Doubled
May 16, 2012 (LBO) – Sri Lanka’s state-run Bank of Ceylon, the country’s largest bank said group profits increased 104 percent to 4.4 billion rupees from a year earlier helped by strong foreign exchange earnings. The group provided 49 million rupees for loan losses in the March 2012 quarter compared with a provision reversal of […]
Sailing Forth
May 16, 2012 (LBO) – Sri Lanka’s Colombo Dockyard Plc, a unit of Japan’s Onomichi Dockyard Company said profits in the March 2012 quarter rose 60 percent to 746 million rupees helped by foreign exchange gains. The firm reported earnings of 10. 39 rupees for the quarter. The stock traded at 200 rupees Wednesday, down […]