Fitch Ratings has assigned Sri Lanka’s Bank of Ceylon’s Long-Term Foreign- and Local-Currency Issuer Default Ratings of ‘BB-’ with Stable Outlooks.
Fitch has also assigned BOC a ‘b+’ Viability Rating.
Simultaneously, BOC’s National Long-Term rating and its outstanding subordinated debentures have been affirmed at ‘AA+(lka)’ with a Stable Outlook and ‘AA(lka)’, respectively.
Fitch says, the Banks IDRs and [...]
April 17, 2012 1:44 PM | Posted in
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Sri Lanka’s Waskaduwa Beach Resort Limited, a subsidiary of Citrus Leisure PLC has signed an agreement with the BOI to build a 150 room hotel in Kalutara.
The Company, in a stock market filing said the total investment to build the hotel which will come up in Waskaduwa stands at US$ 23.77 million.
The hotel, once built, [...]
April 11, 2012 2:16 PM | Posted in
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Sri Lanka’s Royal Ceramics Lanka PLC, which businessman Dhammika Perera owns the majority stake has bought the controlling stake of Asia Siyaka Commodities Limited.
The Company announced that the deal was completed during last week, where it has acquired 132.6 million shares of the commodity broker for a sum of Rs. 336.6 million.
This share amount represents [...]
Sri lanka’s Samudra Beach Resorts, a subsidiary of Browns Investments PLC is planning to build a 150 room 4 star hotel in Kosgoda.
Estimated cost of the proposed project is Rs. 1.8 billion.
The company, in a stock market filing announced that it has already signed an agreement with the Board of Investment to go ahead with [...]
April 9, 2012 11:12 AM | Posted in
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Fitch Ratings Lanka has assigned Central Finance Company Plc’s proposed senior debentures of up to Rs. 600 million a National Long-Term rating of ‘A+(lka)’.
Fitch says, the issue is rated at the same level as CF’s National Long-Term rating of ‘A+(lka)’ which has a ‘Stable Outlook’.
The rating agency points out that this is in compliance with [...]
April 5, 2012 4:36 PM | Posted in
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Softlogic Capital Limited has acquired the entirety of the Arrenga Capital private Limited for a sum of Rs. 200 million.
Arrenga Capital (pvt.) Limited is a Stock Broking Company.
Softlogic Capital is the financial arm of the listed Softlogic Group.
Softlogic group is engaged in the businesses of ICT, Healthcare, Retail, Financial Services, Automobile and Leisure.
April 5, 2012 12:51 PM | Posted in
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SriLankan Airlines have decided to cancel flights to several European cities such as Zurich, Rome and Milan from May to June period as demand is expected to fall during the off peak.
The Airline says, the move was taken in a bid to cut costs amidst the rise in fuel and operational cost of the airline.
It [...]
April 4, 2012 5:08 PM | Posted in
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Tourism |
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Ten vessels which had sunk outside and within the Kankasanthurai Port in Northern Sri Lanka have been removed.
According to the Resolve Marine Group, which has handled the removal program, the ship wreck has obstructed safe navigation in the area and effectively prevented commercial activity in the port.
RESOLVE says, it took over the mapping, removal and [...]
April 3, 2012 11:34 AM | Posted in
Business & Finance,
Top RIght |
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Sri Lanka’s Softlogic Capital Limited has entered in to a share sale and purchase agreement with Forbes Capital Private Limited to sell 5.1 million ordinary shares of the Softlogic Credit Limited.
Softlogic Capital Limited says, the said share amount constitute 67% of the issued share capital of the Softlogic Credit Limited.
The total consideration of the deal [...]
April 2, 2012 12:42 PM | Posted in
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Fitch Ratings has affirmed Sri Lanka Telecom PLC’s Long-Term Foreign-Currency and Local-Currency Issuer Default Ratings at ‘BB-’, respectively.
Its National Long-Term rating has been affirmed at ‘AAA(lka)’.
The Outlook of the telecom firm remains Stable.
The rating agency says SLT’s IDRs are constrained by the respective sovereign IDRs of ‘BB-’.
“This is principally due to the government of Sri [...]
March 30, 2012 12:15 PM | Posted in
Business & Finance |
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