Tag: lbo.lk
Teejay reports Q1 net profit growth of 62-pct
Aug 02, 2019 (LBO) – Teejay Lanka PLC has made a strong start to 2019-20, reporting excellent top and bottom line growth at group and company level through efficient capacity utilisation, an improved product mix and effective curbing of non-strategic costs. Sri Lanka’s only multinational textile manufacturer reported group net profit of 453.7 million rupees […]
NDBIB advisor to Rs.2.8 Bn IPO in Maldives
Aug 02, 2019 (LBO) – NDB Investment Bank (NDBIB), acting as the sole financial advisor and manager is executing its 2nd initial public offering (“IPO”) in the Maldives with the launch of the IPO of Maldives Islamic Bank PLC (“MIB”), the first fully fledged Islamic Bank in the Maldives amounting to MVR 244.1million rupees. MIB […]
PA warns of damage to local oil palm industry if seedling crisis not resolved soon
Jul 30, 2019 (LBO) – The Planters’ Association of Ceylon (PA) sounded the alarm on the escalating 500 million rupees oil palm seedling crisis, warning of dire and irreversible damage to the industry within the next 3 months if definitive action was not taken to reverse the de facto ban on oil palm cultivation and […]
Cabinet, State and Deputy Ministers who resigned sworn into office again
Jul 30, 2019 (LBO) – Cabinet, state and deputy Ministers who had resigned from their respective ministerial portfolios were sworn in before President Maithripala Sirisena, Monday. Following are the list of ministers with their newly sworn in portfolios …. Rauff Hakeem Minister of City Planning, Water Supply and Higher Education Rishad Bathiudeen Minister of Industry […]
Dentsu Grant Group launches Amnet operations in Sri Lanka
Jul 29, 2019 (LBO) – Dentsu Grant Group has announced the launch of Amnet, the programmatic expert from Dentsu Aegis Network, in Sri Lanka. Amnet is a trusted source for programmatic buying and audience management solutions. Amnet comprises a team of programmatic experts from the Dentsu Aegis Network, who specialize in programmatic buying, programmatic media planning, data […]
Sri Lanka Real Estate regains momentum with international and expat markets
Jul 29, 2019 (LBO) – Following recent marketing efforts by industry leaders as well as by the Sri Lanka Tourism Board Authority (SLTBA), Sri Lanka’s many affected industries including tourism, real estate and construction have begun to see a slow regain in momentum. Following on from the recent Sri Lanka Easter Attacks, several industries, alongside […]
Japan’s SBI group invests USD2Mn in Sunshine Energy
Jul 29, 2019 (LBO) – Japan’s SBI Group will be investing US 2 million dollars in Sunshine Energy to further expand on renewable energy production, a statement said. Sunshine Holdings PLC (CSE: SUN) announced that SBI Ven Holdings (Pte) Limited, the overseas private equity firm of SBI Holdings Inc., has invested US 2 million dollars […]
Sri Lanka’s 1st dollar sovereign bond fund poised for global investors
Jul 26, 2019 (LBO) – Strong demand on the recent issuance of Sri Lankan International Sovereign Bonds (ISB) signals potential for a strong economic recovery according to Ceylon Asset Management (CAM)) Director and Economic Advisor, Rainer Michael Preiss. “The decline in Sovereign Bond Yields indicate that the worst is over for Sri Lanka. The coupon […]
JKH transportation, consumer foods and retail witness strong growth in Q1
Jul 25, 2019 (LBO) – John Keells Holdings PLC reported a 5 percent growth in Group revenue during the first quarter of the year of Rs.31.74 billion compared to the Rs.30.16 billion recorded in the previous financial year. The Transportation, Consumer Foods and Retail industry groups continued their growth momentum from the previous quarter despite […]
Knit fabric maker Teejay announces plans to diversify in to lace
Jul 25, 2019 (LBO) – Teejay Lanka PLC, Sri Lanka’s only multinational textile mill, has announced plans to partner with a leading Chinese company to venture into the manufacture of lace, thereby significantly expanding the Company’s product portfolio. As a first step, Teejay is to commence dying, finishing, and scalloping of raw lace material supplied […]
ETL Colombo denies claims as the importer of waste cargo
Jul 25, 2019 (LBO) – ETL Colombo (Pvt) Ltd. outrightly denied any claims that they are the ultimate importer of the 130 containers of “Used Mattresses” imported to Hayleys Free Zone, Katunayake for reprocessing and re-export as legally permitted by the Hub Act. The actual owner and the key stakeholder of the said cargo is […]
CA SL to host regional forum on finance professionals combating corruption
Jul 25, 2019 (LBO) – The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) will host a regional forum in Colombo next week on the role of finance professionals in combating bribery and corruption. The forum which will be held on 30th July 2019 at the Kingsbury Hotel will attract accountants from across […]