Category: Other
‘s proposed debenture issue A-(lka)(EXP)
Fitch Ratings has assigned Singer (Sri Lanka) PLC’s (Singer;A-(lka)/Stable) proposed senior unsecured debenture issue of up to LKR4bn a National Long-Term Rating of ‘A-(lka)(EXP)’. The debenture is to be issued at a fixed rate with a tenor of three years. The proceeds of the proposed issue will be used to refinance existing debt. Singer’s proposed […]
Opinion: Is electricity from Norachcholai coal power plant cheap?
By Vidhura Ralapanawe CEB (and the CEBEU) has been touting a cost of 5-6 Rupees for Norachcholai, saying that it is cheap. PUCSL approves the CEB’s bulk supply tariff every six months, and based on the last such approval, the fuel cost is Rs 5.75/kWh (based on a USD80/tonne delivered), the fixed cost (maintenance, salaries […]
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(PRESS RELEASE) – Fitch Ratings-Colombo-19 October 2016: Fitch Ratings has assigned Nations Trust Bank PLC’s (NTB: A(lka)/Stable) issue of subordinated debentures of up to LKR5bn a final National LongTerm rating of ‘A-(lka)’. The final rating is the same as the expected rating assigned on 15 September 2016, and follows the receipt of documents conforming to […]
Commercial Bank honoured in USA& Hong Kong
(PRESS RELEASE) – As the financial year draws to a close, the Commercial Bank of Ceylon has been presented with two more significant global awards in Washington DC and Hong Kong. Commercial Bank Chairman Mr Dharma Dheerasinghe and Managing Director Mr Jegan Durairatnam received the Global Finance award for the Best Bank in Sri Lanka […]
Sri Lanka wants to become self sufficient in sugar: Ravi
Oct 20, 2016 (LBO) – Sri Lanka will deploy new initiatives to become self-sufficient in sugar manufacture, Finance Minister Ravi Karunanayake said in a statement. Plans are underway to increase sugarcane cultivation and set up of 15 new manufacturing plants in the country, the statement said. The project will be implemented under two stages. Under […]
Sri Lanka to develop IT platform for tea with Rs220mn
Oct 19, 2016 (LBO) – Sri Lanka is to introduce an industry-wide and real-time IT solution to integrate functions associated with tea in order to improve productivity and quality across the industry. The proposed IT backbone will acquire, store, analyze and report on industry-related data and will integrate the entire value chain with efficient monitoring […]
Fitch rates DFCC Bank subordinate debentures final A+(lka)
Fitch Ratings has assigned DFCC Bank PLC’s (DFCC; AA-(lka)/Negative) Basel II-compliant subordinated debentures of up to LKR7bn a final National Long-Term Rating of ‘A+(lka)’. The final rating is the same as the expected rating assigned on 27 September 2016 and follows the receipt of documents conforming to information already received. The debentures, with tenors of […]
RIU Investor roadshow London 2016 holds session at the High Commission
(PRESS RELEASE) – The RIU (Research Intelligence Unit) Investor Forum, geared towards facilitating cross border investment between Sri Lanka and the United Kingdom was held at the Sri Lanka High Commission in Hyde Park Gardens, London on Friday the 7th October. The special focus of this event being on real estate and related investment facilitation […]
‘s Fitch rates Seylan Bank senior debt A-(lka)(EXP)
Fitch Ratings has assigned Seylan Bank PLC’s (A-(lka)/Stable) proposed senior debenture issue of up to LKR8bn a National Long-Term Rating of ‘A-(lka)(EXP)’. The debentures will have tenors of three and four years and carry fixed and floating coupons. The debentures are to be listed on the Colombo Stock Exchange, and the bank plans to use […]
Minister Daya Gamage pays last respect to Thai King
Condoling the demise of the King of Thailand His Majesty Bhumibol Adulyadej , Minister Daya Gamage paid last respect to the King at the Official Residence of Thai Ambassador, today (17).
Kuwaiti envoy held talks with Ceylon Chamber on trade & investments
Kuwaiti Ambassador in Sri Lanka, His Excellency Khalaf Bu Dhhair says his country is willing to help Sri Lanka’s development plans with required investments. The envoy conveyed this when he made a courtesy call to the Ceylon Chamber of Commerce on Thursday, the 13th October, 2016 and heldtalks with Chairman, Mr. Samantha Ranatunga. “Kuwait is […]
Sri Lankan business leaders meet U.S. Ambassador
Oct 17, 2016 (LBO) – Top Sri Lankan business personalities met U.S. Ambassador H.E. Atul Keshap at a dinner event in Colombo recently, organized by the Horton Debate Society. Ambassador Keshap and his wife Karen attended the dinner event at the Grand Gourmet restaurant on Horton Place in Colombo, with Ranjan Hulugalle, chairman of the […]