Fitch Downgrades John Keells Holdings to ‘AA+(lka)’

Fitch Ratings has downgraded John Keells Holdings PLC’s (JKH) National Long-Term Rating to ‘AA+(lka)’ from ‘AAA(lka)’. The Outlook is Stable. JKH is a holding company with interests in transportation, leisure, property, consumer foods, retail and financial services, and it depends largely on dividend income to meet its financial obligations. The downgrade reflects the deterioration in…

(0)Comments | September 3, 2014 6:45 pm

Bimputh Finance acquires nearly 25% shares of Sinhaputhra Finance

Bimputh Finance PLC today (02 September) acquired 1,573,765 representing 24.99 percent shares of Sinhaputhra Finance PLC at Rs. 275 each. After this acquisition Bimputh Finance holds 1,605,919 shares representing 25.5 percent shares of Sinhaputhra Finance PLC.

(0)Comments | September 2, 2014 10:46 pm

Carson Cumberbatch clarifies speculative reports

Carson Cumberbatch PLC has issued a clarification to avoid speculative reports that its subsidiaries, namely Goodhope Asia Holdings Limited and four Malaysian plantation companies, Indo-Malay PLC, Shalimar (Malay) PLC, Selinsing PLC and Good Hope PLC were seeking large scale listing of their palm oil operations on the Singapore Stock Exchange. Carson Cumberbatch states that the…

(0)Comments | September 2, 2014 10:31 pm

The rise of Sri Lanka’s e-government services

  By Indika De Zoysa:: Sri Lanka as a country is growing rapidly in every aspect. The country has achieved better gross domestic product (GDP) rates, a single digit level inflation, a solid GDP per capita income and low unemployment rates over the last two years, with positive contributions from key sectors of the economy. This…

(0)Comments | September 2, 2014 3:20 pm

Teak-growing Touchwood has only Rs. 105,000 in banks

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…

(0)Comments | September 1, 2014 9:32 pm

MTD Walkers acquires Wincon Development for 2.1 billion

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…

(0)Comments | August 28, 2014 8:50 pm

Chinese interpreters active in Sri Lanka soon

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, Kariyawasam said the government has taken steps to obtain the services…

(0)Comments | August 25, 2014 3:37 pm

Another 100 room luxury hotel in Galle

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…

(0)Comments | August 22, 2014 10:35 am

EXCLUSIVE:: Tomorrow never comes to Lanka’s PayPal dreams

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…

(0)Comments | August 21, 2014 1:56 pm

$107 million solid waste disposal system for Colombo

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…

(0)Comments | August 15, 2014 11:04 am