Category:
Revelations
Complex financial transactions that include income securatisations and sale of loans have been increasingly used by local financial institutes to raise capital and improve their profitability. rnrnldblquote At minimum financial statements should include a disclosure about the complex financial transaction. The disclosure should explain the transaction and risk and rewards the company is exposed to […]
Sampath wins
The Appeal Court upheld an earlier District Court decision, which barred HNB and its associates from selling the excess shares of Sampath Bank that was bought in the market last year. rnrnToday quote s ruling prevents both groups from voting on their holdings in Sampath Bank until court proceedings are complete. rnrnThe ruling also said […]
Debt – BBB
SL BBB rating denotes a low expectation of credit risk. rnrnldblquote The capacity for timely payment of financial commitments is considered adequate, but adverse changes in circumstances and in economic conditions are more likely to impair this capacity, dblquote Fitch says in a release. rnrnThe rating takes into account SF quote s strong balance sheet […]
No Problem
The government has also decided to shift the venue of the customarily aid group meeting from Paris to Colombo, in order to allow a greater participation of Sri Lankan officials in the discussion, Cabinet spokesman Minister G L Peiris said today. rnrnldblquote This change of venue will allow most of the officials who are in […]
Jaya Spun Off
The new company will be known as Jaya Container Terminals Ltd and will be managed by a board of nine directors appointed by the Shipping Minister. rnrnAccording to shipping analysts, Jaya Terminal would stand to lose large volumes of container handling to the private sector managed South Asia Gateway Terminal (SAGT), if it continued under […]
Southern Roar
Rajapaksa was better known for his loyalty towards Sri Lanka Freedom Party, the key constituent party of PA, which his father helped to form, than his loyalty towards the President. rnrnDuring his stint as the Labour Minister in the PA government he introduced the controversial Labour Charter, which earned him the wrath of business community. […]
Battle Front
The current labour legislation, which is considered to be archaic by donor agencies and investor community, prevents flexible employment policies being adopted by investors.These laws are also identified as a major competitive disadvantage for Sri Lanka when compared with more de-regulated labour markets in South East Asia. rnrnldblquote Labour reforms are vital since the private […]
Petty Cash
Finance Minister K N Choksy said around Rs. 29.7 bn were needed for a month starting from March 19, until the budget debate is concluded. rnrnHe estimated government revenue during the one-month period to be Rs. 18.8 bn. Additional funds, he said could be met under a special Loans Act. rnrnThe annual November budget has […]
Tussel For Bunkering
The announcement was expected today but has now been shelved for the weekend. rnFully owned by Ceylon Petroleum Corp, LMS has bonded warehouses at the Colombo port. rnThe Public Enterprise Reform Commission (PERC) is expected to dispose LMS quote s controlling stake, which can even go up to 90 percent. rnrnAround 15 companies including top […]
Swapping For More
The swap would hedge the Horana plant quote s interest rate risk, by converting its US$ 10.8 mn floating rate, which is pegged to the three months London Inter Bank Offered Rate debt into a fixed rate. rnrnAitken Spence opted for the move, after US dollar interest rates reached historic lows following the US economic […]
Catching Up
ldblquote We are re-visiting our original strategic plan, taking in to account the experiences gained during the last two years dblquote , JKH Director Ajit Gunawardene told Lanka Business Online. rnrnldblquote There will be no major changes to the overall strategic direction dblquote , he said. NTB will continue to focus on gaining competitive advantage […]
Multiplying
The Central Bank plans to expand the number of primary dealers dealing exclusively in government debt.rn rnNewcomers will be on par with existing primary dealers, having exclusive access to bid at the primary auctions. rnrnNew players have to set aside a minimum capital of Rs. 150 mn and have competent dealers, Central Bank Governor, A […]