Touchwood Investments PLC which engaged in growing teak trees for some time and then faced a crisis currently possesses only Rs. 105,720.17 in the bank accounts of the company. This has been revealed through the report on the assets and liabilities of the company submitted to the company’s liquidator G.K. Sudath Kumar. According to the…
The world renowned construction, production and engineering services entity MDT Walkers PLC is to acquire the land development, building contractors, machinery and electronics manufacturing firm Wincon Development Ceylon (Private) Limited for a sum of Rs. 2,174 million. The MDT Walkers PLC board of directors has approved the acquisition of all Wincon Development Ceylon (Private) Limited…
There is a huge increase in Chinese tourists into Sri Lanka and very soon the country with the most number of tourists to Sri Lanka would be China, said chairman of the Sri Lanka Inbound Tour Operators’ Association Mahendra Kariyawasam. While speaking to adaderanabiz.lk, Kariyawasam said the government has taken steps to obtain the services…
Asia Leisure, a subsidiary of Asia Capital PLC together with a Japanese investment is to construct a 100 roomed super luxury hotel in Galle at a cost of Rs. 1.8 billion. Asia Leisure says that this hotel is to be constructed on a two acre plot of land bought early this year along the Galle…
EXCLUSIVE:: Though the Central Bank of Sri Lanka tried to introduce the world’s most popular money transfer service Paypal to Sri Lanka very soon, most reliable sources say that it may take a longer time for this service to be introduced to Sri Lanka. This major delay has been due to PayPal not showing keenness…
Government has been looking for an environmentally acceptable and economically feasible solution for the disposal of Municipal Solid Waste in the Metro Colombo Region. The current collection of Solid Waste in the city of Colombo is about 700 MT per day and with the other urbanized local authorities in the Metro Colombo Region, the collection is…
A Cayman Islands registered company, Cultural Financial Holdings Ltd. has entered into an agreement to buy nearly 70% of Union Bank of Colombo PLC shares for nearly Rs. 15 billion. Cultural Financial Holdings has agreed to buy 742.1 million ordinary voting shares of Union Bank of Colombo PLC at Rs. 15.30 per share as a…
EXCLUSIVE: A special meeting on the beginning of the work on the ‘Krrish Square’ proposed to be constructed on a four acre plot of land in Colombo Fort was held between the chairmen of the Urban Development Authority (UDA) and the Krrish Group in Colombo this morning (12 August). During this meeting, Krrish Group chairman…
Vallibel One PLC disposed of its 50% shares in Orit Apparels Lanka Private Limited and successfully gained a net capital gain of Rs. 137.9 million. Vallibel One said it had sold its shares in its subsidiary Orit Apparels Lanka Private Limited at Rs. 40.27 per share. These shares have been purchased by Orit Apparels Lanka…
Asiri Central Hospitals PLC has entered into an agreement to sell and transfer the land and premises bearing No. 37, Horton Place, Colombo 07 for a total consideration of Rupees 2.6 billion. The sale would be concluded only upon the buyer completing a due diligence within 90 days of the due agreement, says Asiri Central…
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