The Leasing Association of Sri Lanka Ltd (LASL) at their recent AGM appointed Nishaman Karunapala as its Chairman and Chaminda Sampath Hettiarachchi of Central Finance Co PLC as the Deputy Chairman. The LASL is the flagship organization of the leasing industry. The Association strives to promote, foster, protect and safeguard the interests of the Leasing…
Colombo bourse failed to retain the positive momentum gained in last eight trading sessions and both indices closed with negative returns. Benchmark All share price index lost 32.26 points or 0.44% to end at 7,320.89 and 20-script S&P SL 20 index lost 18.44 points or 0.45% to end at 4,086.25. Losses were mainly driven by…
Seylan Bank recorded an impressive performance with Profit before Income Tax reaching Rs 3,490 Million for the 9 months ended 30th September 2014. Profits after Tax reached a record Rs 2,253 Million a 47% increase compared to the Rs 1,536 Million reported in the corresponding 9 month period. The quarterly PAT figure (Q-3) of Rs….
The Planters’ Association of Ceylon expresses its deep regret over the loss of lives caused by landslides in the Koslanda area last Wednesday (29 October) and reaffirms its steadfast commitment to assist other estate residents living in areas facing the danger of landslides, with the co-operation of the relevant government authorities. Following a cabinet decision…
Colombo stock market started weekly operations on optimistic note where both indices witnessed notable returns. Core index bagged 26.34 index points or 0.36% to end at 7,353.15 while 20-scrip S&P SL index gained 17.31 index points (+0.42%) to close at 4,104.69. Price inclines in counters such as Commercial Bank (closed at LKR 170.00, +2.5%), Hemas…
Sampath Bank PLC has decided to issue 60 million debentures with an option to issue a further 10 million debentures in the event of over-subscription at a par value of Rs. 100 each.
HWIC Asia Fund has acquired shares representing 15 percent voting rights of the Nations Trust Bank PLC. HWIC Asia Fund is a multi-class investment company and its objective is long-term capital appreciation through investment primarily in securities of Asian companies.
Millers Brewery Limited confirmed that it has concluded transferring its trademark and entire shareholdings to Lion Brewery Ceylon PLC and its subsidiary Pearl Springs (Private) Limited for Rs. 5.15 billion. With the acquisition of the trademarks, Lion Brewery Ceylon PLC has now consolidated the Millers Brewery Limited portfolio of brands into Lions portfolio and will…
As Lanka-Nepal trade leaped by threefold and showed new signs of revival, the biggest Nepali business delegation to Sri Lanka after almost a decade concluded their visit successfully on 02 November and also gave an unprecedented opening for the country’s artisans to enter two of the highly profitable craft markets in the region through Nepal-and…
Fitch Ratings has downgraded Sri Lanka-based retailer Abans Plc’s National Long-Term Rating to ‘BBB+(lka)’ from ‘A-(lka)’. Fitch has also downgraded the National Long-Term Rating on Abans’ unsecured redeemable debentures to ‘BBB+(lka)’ from ‘A-(lka)’. Fitch has affirmed Abans’ outstanding commercial paper at National Short-term Rating of ‘F2(lka)’. The one-notch downgrade reflects Fitch’s view that Abans’ medium-term…
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