Industry – Page 689 – Lanka Business Online

Cash Call

Mar 02, 2011 (LBO) – Sri Lanka’s Seylan Bank now being restructured under regulatory supervision said will raise 4. 6 billion rupees (42.6 million US dollars) from shareholders by the sale of new voting and non-voting shares. The bank will issue 43.33 million voting shares at 75 rupees in the proportion of one new share […]

Rest Stop

Mar 02, 2011 (LBO) – The first refueling station at a rest stop mid-way on Sri Lanka’s southern highway which is nearing completion will be operated by state-run Ceylon Petroleum Corporation, petroleum ministry secretary Titus Jayawardene said. The refueling station will be built in Dodangoda, an interchange near Kaluthara, in the stretch between Colombo and […]

Box Slots

Mar 02, 2011 (LBO) – Thailand’s Regional Container Lines (RCL) has started a new Asian container shipping service that will make two weekly calls at Colombo port to cater to growing demand, a statement said. RCL is a Thai-based container shipping line listed on the Thai Stock Exchange and currently owns and operates a fleet […]

‘s Jayawardene mulls action over corruption allegation

March 1, 2011 (AFP) – Sri Lanka’s former skipper Mahela Jayawardene is reportedly considering suing a state-run television network for hinting he may have helped fix a World Cup match against Pakistan. Many Sri Lankan players have been investigated by the International Cricket Council over match-fixing in the past. Jayawardene, who lost his middle stump […]

Downgrade

Mar 01, 2011 (LBO) – Sri Lanka’s Lanka Orix Leasing Company has been downgraded by one notch to ‘A-(lka)’ by Fitch Ratings, with a ‘negative’ outlook on higher debt funded equity investments in group firms. Fitch said it had also downgraded an LOLC’s proposed commercial paper to ‘F2(lka)’ from ‘F(lka)’ and withdrawn the rating. “The […]

Lower Outlook

Mar 01, 2011 (LBO) – Sri Lanka’s Lanka Orix Finance Company outlook has been lowered from ‘stable’ to ‘negative’ on weak capitalization following rapid growth, Fitch Ratings said. It’s national long-term rating has been confirmed at ‘A-(lka). The company’s capitalization, as measured by equity to assets, had decreased to 9.2 percent at year ended March […]

Finance Listing

Mar 01, 2011 (LBO) – Sri Lanka’s Senkadagala Finance, a registered finance company, has been given the nod to list on the second board of Colombo Stock Exchange through the ‘introduction’ process the bourse said in a statement. Sri Lanka’s finance companies have been asked to list on the stock exchange by the Central Bank, […]

Cargo Space

Mar 01, 2011 (LBO) – Colombo port has begun building a facility for export containers north of the habour that will help reduce congestion and provide more space for its main transhipment business, an official said. Sri Lanka Ports Authority chairman Priyath Wickrama said it has acquired land for the ‘cargo village’ at Peliyagoda, a […]

Shipyard Show

Feb 28, 2011 (LBO) – Colombo Dockyard’s December 2010 quarter net profit more than doubled to 739 million rupees from a year ago despite flat sales while annual profits fell as repair work suffered from competition, a statement said. The Sri Lankan listed ship builder’s December 2010 quarter net was up 123 percent compared with […]

Sri Lanka central banker meet mulls stimulus exit strategies

Feb 28, 2011 (LBO) – South and South East Asian central bank chiefs who met in Sri Lanka had discussed ways to exit deficit spending and loose monetary policy adopted during a global downturn, amid rising inflation and property bubbles. Several Asian countries followed their advanced nations counterparts in boosting state spending and money printing […]

Sri Lanka float plane in World Cup cricket flights

Feb 28, 2011 (LBO) – SriLankan Airlines’ says it has started a float plane service to Kandy to cover World Cup cricket matches at the Pallekelle grounds in Kandy in central Sri Lanka. The airline said its flights to two matches in Hambantota in the south had been sold out. The service will run from […]

Bank Numbers

Feb 28, 2011 (LBO) – Sri Lanka’s Hatton National Bank said group net profit for the December 2010 quarter was up two percent to 1. 87 billion rupees from a year ago with sharp gains in fee income. A stock exchange filing said HNB’s group net profit for the full financial year ending December 31, […]