Tag: lbo
First Capital Holdings announce board appointments
First Capital Holdings PLC, a member of the Janashakthi Group, is pleased to announce key appointments to its Board of Directors, effective June 28, 2024. Veteran banker Rajendra Theagarajah has been appointed as the Chairman. Joining him are Inoshini Perera, Rachini Rajapaksa, and Dilendra Wimalasekere as new members of the Board. The appointment of Rajendra […]
”; Outlook stable
Fitch Ratings has affirmed Sunshine Holdings PLC’s National Long-Term Rating at ‘AA+(lka)’. The Outlook is Stable. Sunshine’s rating reflects its steady business profile, which is anchored by defensive cashflows in its healthcare manufacturing and retail and consumer segments, and its strong balance sheet. This counterbalances weaknesses in its agriculture segment (16% of EBIT) over the […]
”; Outlook stable
Fitch Ratings has affirmed Merchant Bank of Sri Lanka & Finance PLC’s (MBSL) National Long-Term Rating at ‘BBB+(lka)’. The Outlook on Stable. MBSL is 84.5% owned by Bank of Ceylon (BOC, A(lka)/Stable) and other BOC group entities. BOC is the largest banking group in the country. KEY RATING DRIVERS Shareholder Support Drives Ratings: MBSL’s rating […]
Central Bank announces implementation of Banking (Amendment) Act, No. 24 of 2024
The Central Bank of Sri Lanka (CBSL) wishes to announce the implementation of the Banking (Amendment) Act, No. 24 of 2024, effective from 15.06.2024. These amendments were formulated with a view to further strengthening the legal and regulatory framework applicable for licensed commercial banks and licensed specialised banks (licensed banks) to enhance the resilience of […]
Eshan Pieris bags silver class win at Fanatec GT world challenge Asia
Eshan Pieris arrived back in Sri Lanka this week after achieving a remarkable Silver Class win in the Fanatec GT World Challenge Asia 2024 held at Fuji International Speedway, Japan, last Saturday. At the Fanatec GT World Challenge Asia, Eshan stood as the only racer on the grid representing Sri Lanka and one of the […]
Monetary Authority of Singapore visits SL to collaborate in field of digital economy
The High Commissioner of Sri Lanka of Singapore Senarath Dissanayake met with the Chief Fintech Officer of the Monetary Authority of Singapore (MAS) Sopnendu Mohanthy, and his team on June 21, 2024, at the Monetary Authority of Singapore prior to the visit of the Fintech delegation to Sri Lanka from June 25 to 27 to […]
‘s Peak
This year, Siddhalepa Ayurveda proudly celebrated its 46th consecutive year of conducting a health camp at Adam’s Peak. Since 1978, they have been at the forefront of supporting pilgrims, demonstrating a long-standing commitment to their well-being and environmental conservation with placing dustbins, placing sign board, offering Lakpeyawa, Siddhalepa Balm and Pain Relief Spray to visitors. […]
CBSL appoints two new deputy Governors
In terms of the provisions in the Central Bank of Sri Lanka Act, No. 16 of 2023, Minister of Finance, as recommended by the Governing Board, has appointed A A M Thassim, Assistant Governor and Secretary to the Governing Board, and J P R Karunaratne, Assistant Governor, as Deputy Governors of the Central Bank of […]
New World Bank Chief for Sri Lanka, Maldives and Nepal
David Sislen is the World Bank’s new Country Director for Maldives, Nepal, and Sri Lanka, effective July 1, 2024. Sislen succeeds Faris Hadad-Zervos, who will be taking on a new World Bank assignment. He isa dual national of the US and Italy, joined the Bank in 2001 as an Economist in the Urban Cluster Unit […]
Ceylon Chamber commends board-level agreement on second IMF review, Calls for sustained economic reforms
The Ceylon Chamber of Commerce congratulates the Government of Sri Lanka for securing a board-level agreement on the second review of Sri Lanka’s Extended Fund Facility (EFF) with the International Monetary Fund (IMF). This agreement provides Sri Lanka with immediate access to approximately SDR 254 million (about USD 336 million) in financing. This significant […]
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Fitch Ratings – Colombo – 14 Jun 2024: Fitch Ratings has assigned National Development Bank PLC’s (NDB, A-(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III- compliant subordinated debentures of up to LKR10 billion an expected National Long-Term Rating of ‘BBB(EXP)(lka)’. KEY RATING DRIVERS The proposed debentures will mature in five years and will be listed on […]
‘s implementation of shortened settlement cycle for equity trades proves successful
The Colombo Stock Exchange’s (CSE) implementation of the shortened settlement cycle for equity trades has been executed seamlessly with the first settlement under the T+ 2 cycle taking place on 12 th July 2024, marking a significant milestone in Sri Lankan Capital Market operations. Investors have experienced swift payment processing, receiving their funds within two […]