Tag: lbo
Damro’s opens Rs 12.5Bn Marino Mall and hotel in Colombo
Jul 31, 2018 (LBO) – Damro Group opened the 12.5 billion rupee Marino Mall and Beach Hotel in Colombo 3, adding 289 star class rooms to Colombo’s hotel inventory, Monday. “We have invested over Rs 12.5 billion to build and open this hotel with 289 rooms including two suites,” Damitha Ramanayake, chairman and founder of Damro Group […]
Bathiya and Santhush appointed brand ambassadors for Sony audio products in Sri Lanka
Singer (Sri Lanka) PLC, the country’s premier consumer durables retailer, together with Sony International, has appointed Sri Lanka’s leading musical duo Bathiya and Santhush (BNS) as brand ambassadors for Sony audio products in the country. The official MoU was signed between Kumar Samarasinghe – Marketing Director, Mahesh Wijewardene – COO, Piyum Jayatilaka – Senior Marketing […]
”’ 2018 list
Jul 30, 2018 (LBO) – Sri Lanka’s Union Assurance PLC, a life insurance provider has made it to Forbes Asia’s 2018 list of ‘Best under a Billion ‘ list of the top 200 publicly listed companies in the Asia-Pacific region. The list name 200 public companies in the Asia Pacific region with annual revenue between US […]
John Keells Holdings reports weak results, 62% of Cinnamon Life residencies sold
July 29, 2018 (LBO) – Sri Lanka’s most important listed company, John Keells Holdings (JKH) reported weak results for the quarter ended June 2018. Despite an impressive 12% increase in revenue, margins were compressed translating to a 23% drop in the bottom line compared to the June quarter 2017. The company earned Rs2.2bn (US$14mn) for […]
John Keells Hotels loses Rs263Mn for quarter, continues serial under-performance
July 27, 2018 (LBO) – Colombo Stock Exchange listed John Keells Hotels (KHL) reported weak results for the quarter ended June 2018.The company lost Rs263mn in the quarter, a seasonally weak one for Sri Lanka tourism.The company had approximately a 50/50 split of revenue between Sri Lanka and the Maldives in the quarter. The Sri […]
NDBIB Wins Euromoney crown for seventh consecutive year
NDB Investment Bank (NDBIB)cemented its position as the market leader and premier Investment Bank in the country by being awarded as ‘Sri Lanka’s Best Investment Bank 2018’ by Euromoney Magazine. NDBIB secured this prestigiousaward for the 7th consecutive year whilst demonstrating its market leadership and unrivalled credentials both in Sri Lanka and the region. This […]
Facebook stock down 24-pct on slow growth forecast
Jul 26, 2018 (LBO) – Facebook Inc’s stock was down by nearly 24 percent, Wednesday following concerns voiced over the last few months on social websites privacy issues, a foreign media reports said. . “There would be a rise in costs because in cost on efforts to address concerns about poor handling of users’ privacy and […]
Teejay Lanka profit after tax grows by 27-pct to Rs.279.3Mn
Capacity expansion in India and an increased order book from the US and EU have enabled Teejay Lanka PLC, Sri Lanka’s only multinational textile manufacturer, to make a strong start to 2018-19 with healthy sales and profit growth. Profit after tax grew by a respectable 27 per cent to Rs 279.3 million on revenue of […]
Opinion : Financial reporting and the impact on capital market development
By Nandika Buddhipala Introduction The origination of financial reporting can be closely connected to the requirement to collect and record data which evolved into a stage where the capacity of the human brain was not sufficient to accommodate and memorize the evolving volume of data and transactions. Interestingly the existence of record keeping can be […]
USD 100Mn World Bank aid to modernize the education system in Sri Lanka
Jul 25, 2018 (LBO) – Sri Lanka signed a US 100 million dollas credit agreement with the World Bank to support Sri Lanka’s efforts to strengthen and modernize the general education system in the country, the Finance Ministry said. The General Education Modernization Project (GEM)will modernize and diversify the curriculum of general education in keeping with the transformation […]
USD25.6 million contribution from Wathupitiwela EPZ to export earnings
Jul 25, 2018 (LBO) – The BOI’s Wathupitiwela Export Processing Zone (WEPZ) has contributed US 25,599,216.25 dollars (US$ 25.6 Mn) in export revenue as at end of March 2018, a statement said. WEPZ is located in the Gampaha District, about 42 Km away from Colombo.It was established in 1998 on a land area of 123.17 […]
Cabinet nod for Govt. to write off microfinance debt
Jul 25, 2018 (LBO) – Sri Lanka’s government approved a Cabinet paper to write off non-consumption loans up to 100,000 rupees given to women by all registered finance companies. “This scheme of relief initially will be limited to women who have obtained microfinance loans for non-consumption purposes in 12 drought-affected districts, the Finance Ministry said in […]