Category: Industry
Tele Status
Nov 16, 2009 (LBO) – Sri Lanka Telecom group, the island’s larges fixed access provider which also owns Mobitel a celco, said it lost 186 million rupees in the September 2009 quarter against a profit of 1,235 million rupees a year earlier.In the 9-months to September the group had spend 13.2 billion rupees in capital […]
Slippery Oil
Nov 13, 2009 (LBO) – Lanka IOC, the Sri Lankan unit of Indian Oil Corp., has said it made a loss of 203 million rupees in the September 2009 quarter, partly on losses from hedging in oil imports.The firm has been lobbying for lower import duties on fuel or higher retail prices which are government […]
Tight Quarter
Nov 13, 2009 (LBO) – Sri Lanka’s Commercial Bank’s profits grew 3.5 percent to 971 million rupees in the September quarter from a year earlier with lower provisioning, while total revenues fell 6.1 percent to 10.5 billion rupees. The bank’s interest income fell 6.1 percent to 8.87 billion rupees, interest expenses fell at a slower […]
Bank Margins
Nov 13, 2009 (LBO) – Sri Lanka Nation’s Trust Bank, a unit of John Keells Holdings said net profits grew 28 percent to 173.9 million rupees in the September 2009 quarter from a year earlier, while revenues fell 3.0 percent to 3.5 billion rupees. Interest income fell 4.0 percent to 2.97 billion rupees, interest expenses […]
Ship Building
Nov 13, 2009 (LBO) – Sri Lankan ship builder Colombo Dockyard said net profit for the September 2009 quarter almost doubled from a year ago with earnings boosted by orders to build new vessels for overseas customers.The yard, which is majority owned by Japan’s Onomichi Dockyard, said in a stock exchange filing that September quarter […]
Sri Lanka Sunshine Holdings eyes energy projects
Nov 12, 2009 (LBO) – Sri Lanka’s Sunshine Holdings said it is considering diversifying into the energy sector as part of the holding company’s strategy of expanding its portfolio of investments.Chairman Rienzie Wijetilleke said in a statement the group has a new subsidiary called Sunshine Power. “In accordance with long term diversification strategies to add […]
Sri Lanka apparel sector needs GSP plus: workers
Nov 12, 2009 (LBO) – Claims that alternative markets can be found if Sri Lanka loses European Union trade concessions are a ‘joke’ and if human rights are violated the state should take corrective action, apparel sector trade unions have said. The EU has threatened to withdraw access granted to Sri Lanka under its Generalised […]
Sri Lanka Charter House clinches Maldives hotel deal
Nov 12, 2009 (LBO) – Sri Lanka’s Charter House International, a marketing and distribution group, said it has won an order to supply a new resort hotel run by Mount Lavinia Hotel Resorts in a Maldivian atoll.The company said in a statement it will supply bathware and sanitary fittings and hotel equipment for the TClub […]
Sailing Away
Nov 12, 2009 (LBO) – Delays at Colombo port caused by disruptive labour union action might prompt international shipping lines to shift their hard-won custom to competing ports, the Sri Lanka Ports Authority (SLPA) has warned. The SLPA had promised “efficient and fast port services” and “higher productivity” to win the custom of the shipping […]
Turnaround Signs
Nov 11, 2009 (LBO) – Dialog Telekom, a unit of Malaysia’s Axiata, said it lost 439 million rupees in the September quarter, a higher loss than a year ago, but that its performance was improving. The group, the island’s top celco, said in a statement sales fell 4.6 percent to 8.9 billion rupees in the […]
Bank Numbers
Nov 10, 2009 (LBO) – Sri Lanka’s Pan Asia Banking Corporation (PABC) said September quarter profits rose 49 percent to 69 million rupees on income from trading government securities, despite higher bad loans and a shrinking loan book. Group interest income rose 9.0 percent to 788 million rupees, while interest expenses were flat at 450 […]
New Window
Nov 10, 2009 (LBO) – Microsoft launched its latest operating system (OS), Windows 7, in Sri Lanka promising easier use with more functions. “The new OS provides users with an experience that is above and beyond anything they have used before,” Ken Wye Saw, Vice-President, Microsoft Asia Pacific said at the launch. “The product is […]