The Colombo Chief Magistrate’s Court has directed the Chairman of Lanka Hospitals Corporation PLC to provide the required information and documents as requested by the Director of the Financial Crime Investigation Division of Colombo following a complaint and investigations into alleged financial irregularities in the company. Lanka Hospitals Corporation PLC has agreed to comply with…
In a joint statement on the ‘Truck Operators’ strike at the Colombo Port, The Ceylon Chamber of Commerce together with its affiliates, the Import Section, Exporters Association of Sri Lanka and the Sri Lanka Shippers Council point out that such arbitrary and unacceptable action leading to the disruption of Port operations would not augur well…
Colombo equity market managed to divert from the bearish market sentiment after consecutive eleven sessions of losses. Market swung between gains and losses during the session to closed with mixed results on Tuesday. All shares index managed to bag 6.09 index points (0.09%) to end at 7,057.00 while 20-scrip S&P SL index declined for the…
Prime Minister Ranil Wickremesinghe told Parliament that Central Bank Governor Arjuna Mahendran is to go on leave until the Bond Issue investigations are concluded. Recently, the Central Bank of Sri Lanka announced the issue of Treasury Bonds to the value of Rs 01 billion maturing in 30 years. A particular Primary Dealer too had reportedly…
Browns Investments PLC acquired 50 million shares or 50 per cent shares of FLC Joint Venture Company (Pvt) Ltd., from Perpetual Holding Limited. FLC Joint Venture Company (Pvt) Ltd was a joint venture between Browns Investments and Perpetual Holding Limited and following this acquisition Browns Investments PLC holds 100 per cent of FLC Joint Venture…
Tokyo Cement Company (Lanka) PLC announced that the amalgamation of Fuji Cement Company (Lanka) Limited has been completed and a certification has been issued by the Registrar General of Companies on 13 March 2015. The registered office of the amalgamated company will remain the same at 469 – 1/1, Galle Road, Colombo 3.
The Merchant Bank of Sri Lanka Limited has appointed Ruwan Prithi Kumara Gallage as its Chairman and Non-Executive Independent Director. He is a Fellow of the Chartered Institute of Accountants (UK) and who was a Director of Prime Grameen Micro Finance Ltd., and Audit Committee Chairman. Furthermore, Attorney at Law Sandun Sudaththa Gamage has been…
Colombo bourse continued the lackluster momentum for the tenth session in a row on Monday as the government flashed red light to another Chinese funded project, the lotus tower. The market start the weekly activities with negative results as benchmark ASI declined to 7,050.91 with a drop of 40.34 points (-0.57%) while S&P SL 20…
A veteran in the maritime sector warns that the outright ownership of land to China within the Colombo Port City complex would invariable cause long term problems to Sri Lanka. Shippers’ Academy Colombo (SAC), Chief Executive Officer Mohan Masakorala pointed this out during a special interview with us. He also added that though the Hambantota…
Fitch Ratings has affirmed Sri Lanka-based telecoms company Dialog Axiata PLC’s (Dialog) ‘AAA(lka)’ National Long-Term Rating. The Outlook is Stable. KEY RATING DRIVERS Stand-Alone Profile Under Pressure: Fitch believes that Dialog’s stand-alone credit profile of ‘AA+(lka)’ will come under pressure if it were to pay additional recurring and one-off taxes proposed in the Sri Lankan…
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