Category:
Wider Net
The governments privatisation arm is throwing its doors open to the local investment banking community to help them out as financial advisors for upcoming privatisation issues.The Public Enterprise Reform Committee (PERC) says the move, will pave the way for merchant banks, investment arms of foreign banks and certain foreign consultants to take a look at […]
Tight Fist
The provision, generally known as Section (t) exempted trading profits from dealing treasury securities.rn rnThough trading profits is actually the small spread between buy and sell quotes, some tax experts have argued that it applied to all interest income from treasuries.rn rnThe government is expected to take away this ambiguity and apply the effect retrospectively.rn […]
Sixth Sense
Thai resort and spa chain lquote Six Senses is in talks with John Keells Holdings, to develop a luxury tea spa on a 600-acre stretch of Maskeliya Plantations.ldblquote Talks are still in early stages and if its successful, the chain will invest as much as Rs. 2 bn to develop the property into a tea […]
Direct Dialling
It is understood that the Premier had advised senior state officials to consider direct offers, with the option of listing part of the stake in the country of the new investor. rn rnInitial reports indicate that an 8.5 per cent to 10.00 per cent stake could be on offer not this year, but next year.rn […]
Water Birds
SriLankan Airlines will float its amphibious planes in November, whisking visitors off the runway and over ocean to the hills or as far off as Trincomalee in a fraction of the time. ldblquote We will be starting our float plane operations in November this winter season. It will include two amphibious aircraft that can take […]
Tourist Dollars
Sri Lanka is beginning to put in place its tourism infrastructure, with eight key areas around the island and four zones in the North and East tagged for initial development.A US$ 60 mn JBIC loan is on the cards to develop infrastructure like roads and utilities like electricity, water supply, sewerage systems and waste disposal.rn […]
Dream Homes
Its fashionable to have an address at one of Colombos plush apartments these days. The government has fuelled the apartment craze by pushing lending institutions to offer cheap credit to meet the shortage of houses. As a result, price to rent ratios for apartments are currently topping 21 times. The sky-high rents are expected to […]
Boom Times
The Janashakthi Group expanded its property portfolio on Monday by taking full control of Kelsey Holdings (Pvt) Ltd.The deal, which cost just under Rs. 50 mn by way of debt/equity, saw Kelsey Holdings management and Ayojana Fund Management sell out to Janashakthi Securities & Financial Services Ltd.rn rnKelsey Holdings currently controls 87.82 percent of Kelsey […]
Malaysians Sail In
A top Malaysian business tycoon, Tan Sri Gnanalingam is keen to invest in and manage BOI free trade zones while also tapping potential of the leisure sector.The chairman of the 11 largest port in the world, Westport in Malaysia says, they could also look at investments in the Colombo port once private sector investors are […]
Out Of CRIB
The local credit information agency is trying to add value to its services with donor help.Credit Information Bureau says that World Bank help is on offer to improve its product offering which is presently limited to basic credit information.rn rnThe bureau will also go on line offering their clients quicker access to information.rn rnldblquote They […]
Go For Rating
Central Bank Deputy Governor W. A. Wijewardene told LBR that the credit rating would be in place early next year with bank funding for the whole process.rn rnThe first steps have been taken to find a lquote rating advisory dblquote .rn rnThe ldblquote rating advisory dblquote which will probably be an investment bank, will advice […]
JKH Big Bang
John Keells Holdings entered the property market with a bang by taking a stake in Asian Hotels for Rs. 4 bn.The acquisition of the 60 percent stake gives JKH control of the Colombo Plaza hotel while Asian Hotels also owns a significant stake in the Trans Asia hotel.rn rnThe hotel acquisitions will show up the […]