Touchwood Investments PLC which is under liquidation has not handed over the management of any of its plantations to a third party, its liquidator G.K. Sudath Kumar has informed the Colombo Stock Exchange. This is in response to an article in a newspaper which he claims had stated that ‘a JAT subsidiary manages some…
Hemas Holdings PLC has disposed has disposed of 1,020,000 of its ordinary voting shares of Serendib Hotels PLC. Accordingly, as at 20 October 2014, public holding of voting shares is 20.02 per cent and the number of shares in the hands of the public shareholders are 15,114,358.
Colombo equities stretched the losses for the fourth consecutive day on Tuesday as both indices closed with notable losses. All Share Price index lost 52.29 points (-0.72%) to end at 7,161.16 while S&P SL index lost 29.51 points (-0.74%) to end at 3,978.65. The core index has dropped 127.67 points or 1.8% in last four…
Mr. Ganesan Ampalavanar, currently Managing Director of Nestlé Lanka PLC, will assume the position of Managing Director of Nestlé – Vietnam with effect from February 1, 2015. Mr. Ampalavanar joined Nestlé in his home country of Malaysia as a Management Trainee in 1991. His career covered increasingly responsible roles in Marketing and Sales, culminating in…
Though currently interest rates on loans have reached a record low in Sri Lanka it is no secret that some banks charge unreasonably huge interests on Credit Cards. A survey by adaderanabiz.lk revealed that some banks still charge as much as 24 per cent as interest on the credit cards issued to their customers. Cannot…
Though around six investors have already submitted proposals for the Sapugaskanda oil refinery modernization project, it has been revealed that there have been no proposals so far to raise the required loans and implement the project. This project to increase the refining capacity of the Sapugaskanda refinery from its current 50,000 barrels of crude oil…
Due to the inadequacy of the storage facilities in the fuel tanks at Kolonnawa, Sapugaskanda and Muthutajawela tank farms the government is considering setting up new storage tanks. Hence, more prominence is being given to increasing the number of tanks at the existing tank farms in Kolonnawa and Muthurajawela, Ceylon Petroleum Corporation (CPC) chairman Sirisena…
Colombo stock market started weekly operations on negative note where both indices shed returns gained. Core index declined by 21.02 index points or 0.29% to close at 7,213.45 and S&P SL20 index decreased by 21.39 index points (-0.53%) to close at 4,008.16. Price declines in counters such as Commercial Bank (closed at LKR 163.00, -0.4%),…
UK processors Icelandic Seachill, Direct Seafoods and New England Seafood expressed disappointment over the EU’s red card decision – especially as some of those importers are engaged in fisheries improvement there. The ban will mainly impact imports of fresh and chilled yellowfin tuna or swordfish from Sri Lanka, largely for the foodservice sector, with total imports to the EU valued…
Bansei Royal Resorts Hikkaduwa PLC which had been managed by prominent Sri Lankan businessman Dhammika Perera has entered into an agreement with Jetwing Hotels Limited to operate its Hikkaduwa Resort from 01 December this year. Amaya Leisure would relinquish its management of Bansei Royal Resorts Hikkaduwa from 01 October 2014 while Jetwing Hotels Limited would…
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