Sri Lanka’s Hayleys plans to raise up to Rs. 2 bn. via a debt issue

Sri Lanka’s Hayleys PLC is planning to raise up-to Rs. 2 billion by  issuing up-to 2 million debentures, each priced at Rs. 1000.
Initially, Hayleys will issue 1.5 million rated, unsecured, redeemable debentures to raise Rs. 1.5 billion, but the limit will be extended to Rs. 2 billion based on the demand.
The issue will be opened [...]

Sri Lanka’s Hemas Holdings opens a new hospital

Sri Lanka’s Hemas Holdings today declared opened a new hospital in Thalawathugoda.
President Mahinda Rajapaksa was the Chief Guest at the occasion.
The new facility coming under Hemas Hospitals of the Hemas Group is the third such hospital to be opened by the diversified firm.
The Rs. 1.3 billion hospital is built in an area of 62,000 square [...]

Sri Lanka should simplify the process of approving tourism projects – Hotelier

A Sri Lankan hotelier says, the country should simplify the administrative process for approving the establishment of tourism projects to help attract investors to the sector.
“The administrative process for approval of construction of hotels and tourist establishments need to be further simplified”, A.N. Esufally, Chairman of the Dolphin Hotels PLC has said in the firms [...]

Sri Lanka to approve foreign investment applications within 3 months

Sri Lanka’s Board of Investment has set up a special unit to approve foreign investment applications within a period of three months, starting from 1st of July, 2013, announced the Ministry of Investment Promotion.
Accordingly, the new unit will process investment applications, get the required clearance and approval from various ministries and departments on behalf of [...]

A top corporate executive defends Sri Lankan armed forces

Lalith De Mel, the Chairman of the Hemas Holdings, a diversified conglomerate says, there is no evidence to say that the country’s armed forces targeted civilians during the final campaign against the LTTE.
Writing on the firm’s latest annual report he says, Sri Lanka’s economic fundamentals appear to be sound, GDP growth is good, the ratios [...]

Anilana IPO’s first tranche fully subscribed, the offer to be closed today

Sri Lanka’s Anilana Hotels and Properties PLC says its latest IPO issue has received applications up to a value of Rs. 480 million, equaling the amount it planned to raise via the first tranche.
The Company which opened the subscription list on the 12th of this month will close the offer at 4.30 pm today.
Anilana has [...]

Sri Lanka’s NDB to raise US$ 250 million by issuing dollar bonds

Sri Lanka’s NDB Bank has decided to raise US$ 250 million by issuing Dollar Bonds, announced a stock market disclosure issued by the Bank.
The Bank says, this is going in line with the Government’s Budget proposal presented for the year 2013.
The disclosure did not specify other details such as the period the money is going [...]

Sri Lanka relaxes foreign exchange rules

Sri Lanka has relaxed foreign exchange rules by introducing several measures, such as the permission to issue US$ 5,000 for travel purposes instead of current US$ 2,500, allowing an individual to carry a migration allowance US$ 150,000 and also allowing the opening and maintaining of bank accounts abroad by dual citizens, among several other measures.
Central [...]

Sri Lanka based Brewers Rs. 3 bln debt issue oversubscribed

Sri Lanka’s Lion Brewery (Ceylon) PLC’s debt issue of up to Rs. 3 billion has been oversubscribed, announced a stock market disclosure issued by the firm.

Accordingly, the issue will be closed at 4.30 pm today.
The brewer initially only planned to raise Rs. 2.5 billion by issuing 2.5 million shares at a price of Rs. 1000 [...]

Sri Lanka’s Central Finance’s debt issue of up to 2 bln. oversubscribed

Sri Lanka’s Central Finance Company PLC’s debt issue of up-to Rs. 2 billion has been oversubscribed, announced the firm in a stock market disclosure.
Accordingly, the issue will be closed at 4.30 pm today.
The firm, initially only planned to issue 1 million rated, unsecured, redeemable debentures, each priced at Rs. 1,000 to raise rupees one billion, [...]