Category: In Pictures
”s senior debt AA-(lka)(EXP)
Fitch Ratings Lanka has assigned People’s Leasing & Finance PLC’s (PLC, B/AA-(lka)/Stable) proposed senior debenture issue of up to LKR6 billion an expected National Long-Term Rating of ‘AA-(lka)(EXP)’. The debentures, which will have tenors of four and five years and carry fixed coupons, will be listed on the Colombo Stock Exchange. PLC expects to use […]
First Capital fostering bonds with regional clients
First Capital Holdings PLC, further expanded its branch network in an effort to forester stronger bonds with regionally based clients.During the last year First Capital added a new branch in Negombo to its existing network, while also re-locating offices in Kandy, Kurunegala and Matara to state-of-the-art, stand-alone branches providing value-added products and solutions to both […]
Ravi Dadlani to lead CEAT Kelani JV as new Managing Director
CEAT Kelani Holdings has announced the appointment of Mr Ravi Dadlani as Managing Director of the company with effect from 1st March 2018. PreviouslyVice President Sales, Marketing & Exports at CEAT Kelani, a company he has already served for 11 years, Mr Dadlani succeeds Mr Vijay Gambhire, who returns to CEAT Limited India on completion […]
Techneed makes foray in to Sri Lankan IoT industry
Techneed (Pvt) Ltd., One of Sri Lanka’s growing high-tech IoT start-ups, today announced the deployment of its “Nurve IOT Gateway” in one of the largest Telecommunications Service Provider in Sri Lanka. Essentially the gateway enables the Service Provider to centrally monitor the environment variables in the Machine room, such as Temperature, Humidity, Movements, Water level, […]
SLT group EBITDA improved by 5.4-pct, increasing depreciation affected bottom line
Sri Lanka Telecom (PLC) released its Group and Company financial performance 2017 today. The group comprised of 8 subsidiaries including Mobitel (Pvt) Ltd. During the reporting year Group Operating Profit Before Depreciation and Amortization (EBITDA) improved by 5.4% to Rs. 21.2 bn. This improvement is a result of revenue growth and minimum escalation of operational […]
‘s Basel III sub debt final A(lka)
Fitch Ratings has assigned Sampath Bank PLC’s (A+(lka)/Negative) proposed Basel III compliant subordinated debentures a National Long-Term Rating of ‘A(lka) ‘. The notes will total LKR7.5 billion, mature in five years and carry fixed coupons. The notes include a non-viability clause and will qualify as regulatory Tier II capital for the bank. The bank plans […]
PropertyGuru Asia Property Awards (Sri Lanka) 2018 event gathers momentum, shortlist reveal in June
PropertyGuru, Asia’s foremost online property company, is gearing up to host its first-ever Asia Property Awards gala dinner in Colombo, Sri Lanka in 2018 as property developers island-wide continue to express enthusiasm to participate in the region’s most prestigious property tilt. The inaugural PropertyGuru Asia Property Awards (Sri Lanka) domestic gala dinner will take place […]
‘s Insurance A+(lka); outlook stable
Fitch Ratings has assigned Sri Lanka-based People’s Insurance PLC a National Insurer Financial Strength (IFS) Rating and National Long-Term Rating of ‘A+(lka)’. The Outlook is Stable. KEY RATING DRIVERS The ratings reflect the non-life insurer’s strong domestic business profile, which is supported by its association with the People’s Bank (Sri Lanka) (PB, AA+(lka)/Stable) group, strong […]
Fitch Affirms Richard Pieris &”; Outlook Stable
(PRESS RELEASE) Fitch Ratings-Colombo-26 February 2018: Fitch Ratings has affirmed Sri Lanka-based conglomerate Richard Pieris & Company PLC’s (RICH) National Long-Term rating at ‘A(lka)’ with a Stable Outlook. Fitch has also affirmed the National rating on RICH’s outstanding senior unsecured debentures at ‘A(lka)’. The affirmation of RICH’s ratings reflects our view that the improvement in […]
DIMO Agribusinesses partners Plantchem and Plantseeds to boost local agriculture
(PRESS RELEASE) – DIMO Agribusinesses, the agriculture arm of Diesel & Motor Engineering PLC (DIMO), recently entered into partnership with Plantchem (Pvt) Limited and Plantseeds (Pvt) Limited to expand its footprint in the Agriculture business. The new partnership will enable DIMO Agribusinesses to expand its product portfolio in crop care solutions, seeds and other agriculture […]
Nestlé delivers Rs37.6bn sales in 2017 amidst challenging market conditions
Continues to invest in Sri Lanka with new products and capacity expansion Revenue of Rs. 37.6 billion for the full year 2017 (up 3.1%) Revenue of Rs. 10 billion in Q4 (up 15.6%) Net profit of Rs. 3.6 billion for the full year and Rs. 1.2 billion for the quarter Severe […]
16 top companies come onboard as CA Sri Lanka Training Partners
The training partner portfolio of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) received a fresh boost recently with 16 top companies coming on board to provide practical training for Business & Corporate level students of the institute. Accordingly, Ansell Lanka (Pvt) Ltd, Business Promoters & Partners Engineering (Pvt) Ltd, Co-operative Insurance […]