Category: Real Estate & Construction
Norges Bank exits from Access Engineering’s top 20 shareholders list
Nov 15, 2019 (LBO) – Norway’s sovereign wealth fund managed by the Norwegian Central Bank, Norges Bank has exited from Access Engineering’s top 20 shareholders list during the September quarter, the company’s interim data showed. Norges Bank held 13,973,487 shares as of 30 June 2019 and was its 14th shareholder in the top 20 shareholders […]
Shangri-La Group completes One Galle Face, Group’s largest venture in South Asia
Nov 14, 2019 (LBO) – Seven years after it broke ground, the much-anticipated One Galle Face (OGF) integrated project was officially opened recently by President Maithripala Sirisena and by Shangri-La Group CEO, Lim Beng Chee. The opening ceremony was attended by local dignitaries and industry leaders. The event also marks the first time OGF officially […]
Sri Lanka FDI down in first half of 2019: Dips in service and infrastructure sectors
Nov 05, 2019 (LBO) – The Central Bank says that Foreign Direct Investment (FDI) including loans to projects approved by the Board of Investment (BOI), decreased by 61.3 percent during the first half of 2019 compared with the same period last year. The island received US 553.2 million dollars in the first six months of […]
JKH Sept quarter net profit down 55-pct amid Easter Sunday impacts
Nov 01, 2019 (LBO) – Sri Lanka’s diversified John Keells Holdings said its profits for the second quarter were mainly impacted by the Easter Sunday impacts on the leisure businesses and the decline in finance income. The profit attributable to equity holders in the second quarter at Rs.2.29 billion is a decrease of 55 percent […]
ICRA Lanka reaffirms the [SL]A+ long term ratings of Access Engineering PLC
Rating action ICRA Lanka Limited, Subsidiary of ICRA Limited, Group Company of Moody’s Investors Service has reaffirmed the Issuer rating of [SL]A+ (pronounced S L A plus1) with Stable outlook for Access Engineering PLC (“AEL”/ “the Company”). ICRA Lanka has also reaffirmed the Issue Rating of [SL]A+(pronounced S L A plus) with Stable outlook for […]
Opinion: Are apartment developers moving to suburbs?
LankaPropertyWeb’s (LPW) With Colombo city turning into a business hub more than a residential area, recent studies of LankaPropertyWeb (LPW) show that apartment developers are now exploring the suburbs to cater to the growing interest for vertical living amongst the locals. The numerous developments taking place in the main city resulting in diminishing space amongst […]
Sanken Construction to build 112-room hotel at Union Place under BOI deal
Oct 24, 2019 (LBO) – Sri Lanka’s Board of Investment signed an agreement with Sanken Construction (Pvt) Ltd to construct and operate a 112 room hotel with an investment of 9.28 million US dollars, which will create 60 new employment opportunities. The agreement was signed by Mangala Yapa, Chairman of the Board of Investment of […]
BOI enters into supplementary agreement with concrete poles manufacturer
Oct 18, 2019 (LBO) – Sri Lanka’s Board of Investment signed a supplementary agreement with Senaka Zenn (Private) Limited to set up a project to manufacture pre-stressed spun concrete electrical poles, piles and railway sleepers for both local and export markets. The initial investment made by the Company was 10.3 million US dollars. The Supplementary […]
5-star hotel to be built in Kandy under BOI agreement
Oct 09, 2019 (LBO) – The Board of Investment of Sri Lanka signed an agreement with Star Class Hotel (Pvt) Ltd., to set up 67 room 5-star hotel which will be located at Mavilamada Road, Kandy. The Agreement was signed by Mangala Yapa, Chairman of the Board of Investment of Sri Lanka and Mohamed Nazar […]
Altair infuses USD 25 mn via syndicated loan
Oct 08, 2019 (LBO) – A consortium of leading local banks, comprising of the Bank of Ceylon, NDB Bank and National Savings Bank has raised a syndicated loan of 25 million US dollars (Rs 4.5 bn) for Sri Lanka’s high rise property development Altair. One of the largest syndicated loans in Sri Lanka’s property development […]
LankaPropertyWeb partners with HNB for Home Loan Products
LankaPropertyweb.com (LPW), Sri Lanka’s premier property site, recently tied up with Hatton National Bank (HNB) to offer its customers a range of home loan products. Through this expansion of services, LPW seeks to minimize the hassle buyers undergo in order to secure a credit facility to make a property purchase. Available through the LPW website, […]
MTD Walkers (KAPI) loses another billion, equity wiped out
October 2, 2019 (LBO) – Embattled construction firm MTD Walkers (KAPI) has reported a loss for the June quarter of approximately Rs1bn, and its equity base has been almost completely wiped out. Trading in the CSE listed KAPI has been halted for some time as the company has been in violation of regulatory guidelines and […]