(News360.lk) Sri Lanka’s Chemcel Private Limited has made a soft opening of its newly built Carbozy Methyl Strach extrusion plant which will produce super absorbents which are being used as an input when manufacturing baby diapers.
Chairman of the Chemcel, Preethi Jayawardena speaking to news360.lk “We are going to produce super absorbents which will be used [...]
February 3, 2012 12:54 PM | Posted in
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Sri Lanka’s Micro Cars Limited, an automobile manufacturer is planning to operate a luxury super low flow bus service covering the main routes entering the Colombo city, a media report said.
The state run news.lk said, the Company has already imported eight super low flow buses which even provide ease of access to the differently able [...]
January 31, 2012 12:27 PM | Posted in
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(News360.lk) Sri Lanka’s Sampath Bank PLC has appointed Channa Palansuriya as its Deputy Chairman with immediate effect.
The Bank’s Board of Directors has made this decision yesterday.
Palansuriya became a board member of the Sampath Bank since the 1st of January 2012.
Apart from his new role, Palansuriya also functions as the Chairman and Managing Director [...]
January 27, 2012 3:31 PM | Posted in
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Watawala Plantations PLC has decided to dispose its subsidiary Watawala Marketing Limited for a sum of Rs. 741.5 million.
According to a stock market filing, the investment by the Watawala Plantations on Watawala Marketing limited is carrying a value of Rs. 355 million representing 35,500,002 ordinary shares.
The Board of Directors of the company has proposed to [...]
January 27, 2012 7:59 AM | Posted in
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Sri Lanka’s Aitken Spence PLC has finalized the selling of the 30% stake it held in the consortium formed to build a new terminal in the Colombo Port to China Merchants Holdings ( International) Company Limited.
Aitken Spence and China Merchants Holdings were the joint partners of the Colombo International Container Terminals Limited, the consortium built [...]
January 26, 2012 3:13 PM | Posted in
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United Motors Lanka PLC’s has recorded a net profit of Rs. 623 million during the 3rd quarter of the financial year 2012, a year on year growth of 71%.
The Company’s revenue during the reference period has risen to Rs. 5.6 billion, a 63% growth year on year.
Gross profit during the period has increased to Rs. [...]
January 26, 2012 11:45 AM | Posted in
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(News360.lk) Fitch Ratings Lanka has affirmed the Vallibel Finance PLC’s National Long-Term rating at ‘BB-(lka)’.
The Outlook of the firm is Stable.
Fitch says Vallibel Finance’s rating factors in its small but growing asset base, healthy profitability and modest asset quality.
It points out that the rating is constrained by VFL’s modest capitalization which is lower than the [...]
January 25, 2012 5:22 PM | Posted in
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Sri Lanka’s Renuka Agri Foods has purchased 76% of the issued share capital of Richlife Dairies Limited for a sum of Rs. 505 million.
The listed Renuka Agri Foods, a sub-subsidiary of Renuka Holdings PLC announced this move via a stock market filing issued today.
Richlife Dairies Limited is a firm engaged in manufacturing of milk products [...]
Sri Lanka’s Aitken Spence, a diversified conglomerate says it is now in the process of finalizing the formalities to transfer the 30% stake it holds in building of the Colombo Port’s South Container terminal to China Merchants (International) Holdings.
China Merchant Holdings (International) Company Limited is the joint partner of the Aitken Spence, who together formed [...]
January 23, 2012 1:23 PM | Posted in
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One of Sri Lanka’s largest consumer durable firms Abans proposed Rs. 500 million debenture has been rated at “A-(lka)’ by Fitch Ratings Lanka.
Fitch says, the ratings of Abans Private Limited’s proposed senior unsecured debenture issue reflects the firms strong market position as one of Sri Lanka’s largest retailers of consumer durables.
The rating firm says, this [...]
January 23, 2012 12:44 PM | Posted in
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