Category: Technology

May 18, 2007 (LBO) — Sri Lanka’s telecom watchdog has given the island’s first Internet service provider, Lanka Internet Services Ltd., extra time to restore services to thousands of customers currently stranded offline, after the company halted services, a top official said. Lanka Internet hit financial difficulty in March with the senior management disappearing without […]

May 18, 2007 (LBO) – A new deal between the buyer of Japan’s NTT stake in Sri Lanka Telecom and the government is being hammered out in a way that will protect the interests of the 49 percent state holding, a top government official said. Treasury Secretary P B Jayasundera told reporters there was no […]

May 17, 2007 (LBO) – Telekom Malaysia sold a small part of its 87 percent stake in Dialog Telekom Thursday, driving turnover on the Colombo bourse to an all-time high of over 6.6 billion rupees. More than 233.6 million Dialog shares, part of the seven percent placement, done by CT Smith Stockbrokers, went through at […]

May 16, 2007 (LBO) – Telekom Malaysia is planning to sell about seven percent of its share in its Sri Lankan subsidiary but would be buying into a rights issue of Dialog Telekom, irrespective of whether a sell down happens or not, an official said. “We are looking at the possibility of selling down seven […]

May 15, 2007 (LBO) – Sri Lanka Telecom (SLT) said Tuesday it has received BOI status from the Board of Investment that would enable it to import and buy locally project-related items free of customs duty. However, the company would not be exempt from income tax like other firms with BOI tax concessions. SLT Chief […]

May 15, 2007 (LBO) – Sri Lanka’s Board of Investment Tuesday said it had given approval for India’s largest publicly-listed telecom firm, Bharti Airtel, to be the island’s fifth mobile phone operator with an investment of 150 million dollars. Airtel is subsidiary of Bharti Enterprises which has interests in telecom services, equipment manufacture and export, […]

May 9, 2007 (LBO) – Sri Lanka Telecom, the country’s largest fixed access operator saw after tax profits growing by 53 percent to 1.98 billion in the March quarter, on the eve of a possible shareholder and management change. Revenue grew 14 percent to 10.9 billion rupees in the quarter, according to accounts filed with […]

May 09, 2007 (LBO) — Nippon Telegraph and Telephone, Japan’s largest phone company, said Wednesday it has still not sold its flagship investment in Sri Lanka to the owner of Malaysia’s biggest mobile operator.SLT also controls 16 percent of the country’s cellular market through its mobile phone subsidiary. “It is not a fact that we […]

May 08, 2007 (LBO) – Sri Lanka on Tuesday enacted the Computer Crimes Bill introducing legislation which gives more power to law enforcement agencies when fighting computer crimes, the government ICT agency said. “The Basis of the Computer Crimes Bill is to criminalise attempts at unauthorised access to a computer, computer programme, data or information,” […]

May 04, 2007 (LBO) – Malaysia Telekom is looking to increase the liquidity of its Sri Lanka unit’s stock, by selling down a small part of its majority stake in Dialog Telekom, the largest mobile operator in the island. “We are constantly looking at all possible options to strengthen the performance of Dialog Telekom,” Malaysia […]

May 04, 2007 (LBO) – The race to buy the fixed wireless operator Suntel has narrowed down to four contenders, with an Indian telecom firm expecting to conduct due diligence on the Sri Lankan operator soon. Originally seven firms were in the running to buy Suntel, a unit of Sweden’s Telia. “In the short-list there […]

May 3, 2007 (LBO) – Sri Lanka’s top celco Dialog Telekom revenue grew 26 percent but consolidated profits remained flat in the March quarter as newly acquired subsidiaries dragged its bottom-line down. Group profit after tax for the three months ended March 2007, was 2,426 million rupees against 2,397 million rupees last year, up one […]