Category:
Cement Rating
Feb 01, 2011 (LBO) – Sri Lanka’s Tokyo Cement Company (Lanka) Ltd has been rated ‘A’ by Ram Ratings on its strong market position and balance sheet against its dependency on the cyclicality of construction and government price controls. The long term rating has a ‘stable’ outlook. The firm’s short term credit has been rate […]
Upgraded
Feb 01, 2011 (LBO) – Sri Lanka’s People’s Leasing Finance (PLF), a unit of Peoples Leasing Company by one notch to ‘BBB(lka)’ with a stable outlook, on expected support from its ‘A(lka)’ parent which owns 93 percent of the firm. Fitch said support from the parent was now “more likely” than in the past as […]
Leasing Strength
Feb 02, 2011 (LBO) – Sri Lanka’s Fitch Ratings has today confirmed Sri Lanka’s People’s Leasing Company’s long term rating of ‘A(lka)’ with a stable outlook on its potential support from its parent, state-run People’s Bank which is rated ‘AA-(lka)’. Fitch said PLC carries out the incremental leasing business of People’s Bank’s leasing business which […]
Sri Lanka insurer to invest in leisure sector
Feb 01, 2011 (LBO) – Sri Lanka’s state-owned Sri Lanka Insurance Corporation will invest in the fast-growing tourism sector by building a hotel in the island’s southern coast, a senior official said. “We are in the process of finalizing details for land in Hambantota to build a hotel,” Mohan De Alwis, managing director and chief […]
Branching Out
Feb 01, 2011 (LBO) – The London School of Commerce (LSC) Group of Colleges has opened a branch in Sri Lanka offering graduate and post-graduate courses, a statement said. The branch, called the British School of Commerce (BSC), will offer courses for both Sri Lankan and overseas students. The courses include business administration, information technology, […]
Fashion Fortunes
Feb 01, 2011 (LBO) – Sri Lankan fashion retailer Odel’s December 2010 quarter net profit rose 35 percent to 76 million rupees from a year ago with inventory levels and borrowings also up sharply, a statement said. Sales in the quarter, usually the best because of Christmas shopping and the peak tourism season, rose 26 […]
South Asian scheme launched to fight poaching
NEW DELHI, January 31, 2011 (AFP) – Eight South Asian countries have launched a regional scheme to share information on poaching and wildlife trafficking in a bid to protect dwindling populations of tigers and other rare animals. After talks in Bhutan at the weekend, the countries launched the South Asia Wildlife Enforcement Network (SAWEN), according […]
Sri Lanka journalists protest arson attack on website
Feb 01, 2011 (AFP) – Dozens of Sri Lankan journalists took to the capital’s streets Tuesday to condemn an arson attack on a popular independent website and protest against assaults on press freedom in the country. Reporters, photographers and employees of privately-run media joined a demonstration in central Colombo a day after the arson attack […]
Sri Lanka shares end down 0.2-pct
Jan 31, 2011(LBO) – Sri Lankan stocks closed down Monday dragged lower by index heavy stocks and some stocks in the banking sector, brokers said. The All Share Price Index closed at 7,174. 87, down 0.24 percent (17.62 points) while the Milanka Price Index of more liquid stocks closed at 7,134. 27, down 0.43 percent […]
Different Roads
Jan 31, 2011 (LBO) – Sri Lanka’s People’s Merchant Bank will not take over the assets and liabilities of a finance company whose shares it has acquired but will keep it separate and list in the stock market. PMB, a listed company said in a stock exchange filing that the decision was taken following instructions […]
Sri Lanka Watawala December quarter profit up marginally
Jan 31, 2011 (LBO) – Sri Lanka Watawala Plantations December 2010 quarter profit rose three percent to 189 million rupees from a year ago with group sales stagnant at 1. 7 billion rupees, a stock exchange filing said. Earnings per share for the company, a unit of India’s Tata Tea group, were 0. 80 rupees […]
Tech Focus
Jan 31, 2011 (LBO) – Sri Lanka’s dominant mobile phone operator Dialog Axiata has set up a fully-owned subsidiary to handle information technology-enabled services, according to a company statement. Dialog said in a stock exchange filing the new unit is called Dialog Business Services and will carry out IT-enabled services. The subsidiary DBS is dormant […]