Feb 29, 2016 (LBO) – Sri Lanka may go to international markets to raise up to 1.5 billion dollars this year after gauging the outcome of meetings with the International Monetary Fund, a central bank official said. Sri Lanka will hold discussions with the IMF in March and April on a support facility for its balance of payments, and for an endorsement of the government’s plan for fiscal consolidation. In December, a central bank official said Sri Lanka could raise up to 1.5 billion dollars this year in line with borrowings last...
Monday, February 29, 2016
Investrust says its money market fund outperformed in 2015
Feb 29, 2016 (LBO) – Investrust Wealth Management Ltd, a member of Investrust Holdings Ltd, said its money market fund was the best performing for the year ended 2015. The Investrust Money Fund delivered a net after fee return of 8.60 percent p.a. while outperforming the Money Market Funds available in the market, according to the data compiled by Unit Trust Association of Sri Lanka. Unit Trust industry in Sri Lanka currently comprises fourteen fund management companies with seventeen Money Market Funds. “Investrust Money Fund...
Popular international stocks take a beating, say analysts
Feb 29, 2016 (LBO) – Popular stocks are taking a beating this year due to redemptions by sovereign and wealth funds, analysts say.These companies are victims of their own success as investors sell winners to meet redemptions, according to BNP Paribas Investment Partners.For instance, Amazon.com Inc. is down 18 percent in 2016 after more than doubling last year, according to a Bloomberg report. Tenet Healthcare Corp. lost 15 percent. The companies have a rating of at least 4 where 5 represents unanimous buy calls from analysts.Popular...
Sri Lanka *market update*, USD/LKR 1wk 144.70/85, Entrust Securities to default board
Entrust Securities has been transferred to the Default Board with effect from today due to Non-Submission of Interim Financial Statements for the period ended 31st December 2015, the CSE said. (Feb 29, 2016 10.40 a.m)ASPI trading at 6,205.50, down 1.52 points 0.02 percent with gains in John Keells Holdings and Panasia Bank , brokers said. (Feb 29, 2016 10.30 a.m)USD/LKR one week quoted at 144.70/85, dealers said. (Feb 29, 2016 10.30 a.m)&nb...
Seylan Bank net profit up 24.4 percent for full year
Feb 29, 2016 (LBO) – Seylan Bank reported a reported a record profit after tax of 3,831 million rupees for the year ended 31st December 2015, up 24.4 percent compared with the previous year, the bank said.Profit before tax increased 24.25 percent to reach 5,777 million rupees for the year. Earnings per share was 11.11 rupees, on a share price of 84 rupees, down 3.9 percent on Monday. Net interest income increased from 11,165 million rupees to 11,825 million rupees, a 5.9 percent increase for the year, while net Fee and Commission...
Potential IMF funding helps Sri Lanka fiscal consolidation: MOODY'S
Feb 29, 2016 (LBO) – Over the next three years, potential financing from the IMF can lead to an agreement to implement fiscal consolidation, Moody’s Investors Service said in a report.
The statement said although this will lower Sri Lanka’s high fiscal deficits and debt, it will likely require a widening of the small tax base and revisiting the government’s expenditure commitments.
Sri Lanka is at the higher end of external vulnerability of B-1 rated peers, such as Jordan, Kenya and Vietnam, forecasted for 2016, according...
Colombo inflation accelerates 2.7-pct in February
Feb 29, 2016 (LBO) – Consumer prices in Sri Lanka’s capital Colombo has accelerated 2.7 percent in February 2016 from a year earlier, up from 0.9 percent in January 2016 with the inflation index dropping 0.6 percent in the month, the state statistics office said.As per the statistics office, this increase was mainly due to elimination of effect of price reduction of few essential food items, L. P. Gas, Kerosene Oil, Petrol, Diesel and Bus...
C T HOLDINGS (CTHR) - CORPORATE DISCLOSURE
http://www.cse.lk/cmt/upload_cse_announcements/9531456718895_....
REGNIS(LANKA) - DIVIDEND ANNOUNCEMENT
REGNIS (LANKA) PLC Company ID: - REG Date of Announcement: - 29.Feb.2016 Rate of Dividend: - Rs. 9.00 per share / Final Dividend Financial Year: -2015 Shareholder Approval: - Required AGM: - 31.Mar.2016 XD: - 01.Apr.2016 Payment: - 11.Apr.2016 Share Transfer Book O...
Friday, February 26, 2016
COPE to obtain Auditor General Report on bond issue
Feb 26, 2016 (LBO) – The Committee on Public Enterprises (COPE) has decided to obtain a report from the Auditor General regarding the controversial bond issue.JVP Parliamentarian Dr. Nalinda Jayatissa said that they have also decided to conduct the inquiry through the main committee of the COPE.“We decided to obtain the observations of the Auditor General and other relevant parties regarding this matter and review the progress after two weeks,” Jayatissa said.He said the COPE will also examine the report prepared by the sub...
Sri Lanka no longer a poor country, discussions with IMF constructive: CB Governor
Feb 26, 2016 (LBO) – Sri Lanka is no longer a poor country, and must rely on markets for its funding needs, Central Bank Governor Arjuna Mahendran said. An endorsement of the IMF, in this regard, would be valuable, he added. “We have had very constructive discussions with the IMF,” Mahendran said. “The government and Finance Minister gave their frank assessment of the economy and the problems they had inherited. And we are now hammering out a way forward in terms of ensuring the economy grows, inflation is contained, and we...
Capital gains tax may kill stock market: Ravi Abeysuriya
Feb 26, 2016 (LBO) – Sri Lanka’s government should not impose a capital gains tax on the stock market as the market still runs on low trade volumes, Group CEO of Candor Group, Ravi Abeysuriya said.Capital gains are profits realized on a sale of a non-inventory asset that was purchased at a cost that was lower than the amount realized on the sale.The most common capital gains are realized from the sale of stocks, bonds, precious metals and property.Prime Minister Ranil Wickremesinghe recently hinted that the government would...
Sri Lanka's megapolis plan a challenge, needs experts to make it successful
Feb 26, 2016 (LBO) – Sri Lanka’s Megapolis development project’s success depends on the establishment of a separate authority to govern the project while social change would also be a key, the president of the Chamber of Construction Industry said.“The Megapolis Authority with the right expertise is a must if this project is to fly,” Surath Wickramasinghe, President, Chamber of Construction Industry said.“This is a challenging exercise, especially the financial side of it – it all needs to be generated to make it a success while...
SEYLAN BANK - DIVIDEND ANNOUNCEMENTS
SEYLAN BANK PLC Company ID: - SEYB Date of Announcement: - 26.Feb.2016 Rate of Dividend: - Rs. 2.75 per share (Voting & Non-Voting) / First & Final Dividend Financial Year: -2015 Shareholder Approval: - Required AGM: - 31.Mar.2016 XD: - 01.Apr.2016 Payment: - 11.Apr.2016 Share Transfer Book O...
SINGER (SRI LANKA) - DIVIDEND ANNOUNCEMENTS
SINGER (SRI LANKA) PLC Company ID: - SINS Date of Announcement: - 26.Feb.2016 Rate of Dividend: - Rs. 4.20 per share / Final Dividend Financial Year: -2015 Shareholder Approval: - Required AGM: - 31.Mar.2016 XD: - 01.Apr.2016 Payment: - 11.Apr.2016 Share Transfer Book O...
NATIONS TRUST - DIVIDEND ANNOUNCEMENTS
NATIONS TRUST BANK PLC Company ID: - NTB Date of Announcement: - 26.Feb.2016 Rate of Dividend: - Rs. 2.10 per share /First & Final Dividend Financial Year: -2015 Shareholder Approval: - Required AGM: - 31.Mar.2016 XD: - 01.Apr.2016 Payment: - 11.Apr.2016 Share Transfer Book O...
Thursday, February 25, 2016
Emerging markets offer long-term opportunity: Research Affiliates
Feb 25, 2016 (LBO) – Christopher Brightman, Research Affiliates’ Chief Investment Officer, says the exodus from emerging markets offers wonderful opportunity for opportunistic investors.Brightman shares market insights for global investment management firm PIMCO’s All Asset funds. PIMCO has 1.4 trillion dollars in assets under management, and their market insights can be read here.Q: How do you view the portfolio’s positioning in Emerging Market asset classes, particularly after a challenging 2015?Brightman: Many investors...
Sri Lanka *market update* , ASPI down 0.2-pct, USD/LKR 1wk 144.80/90
ASPI trading at 6,205.50,down 12.14 points or 0.20 percent with losses in telecom stocks Sri Lanka Telecom and and Dialog Axaita, brokers said. (Feb 25, 2016 2.05 p.m)USD/LKR one week quoted at 144.80/90, dealers said. (Feb 25, 2016 11.50 a.m)ASPI trading at 6,222.30, higher 4.66 points or 0.07 percent with gains in some finance sector stocks like Commercial Leasing and Peoples Leasing Company, brokers said. (Feb 25, 2016 12.05 p.m)&nb...
ETCA can be a wake up call for Sri Lankans: professionals
Feb 25, 2016 (LBO) – Sri Lankan professionals say integration with India through the Economic and Technical Cooperation Agreement (ETCA) is a must for the islands future development.“Yes, ETCA is needed. We have labour problem and if Sri Lankans can’t do it and we don’t have the people then we have to bring them from elsewhere,” Reyaz Mihular, Managing Partner, KPMG Sri Lanka said at a recent forum.“I don’t see the IT sector and marine engineers fighting this. Why is it that only the Government Medical Officers Association (GMOA)...
SEC reconsiders minimum public float rule: CSE
Feb 25, 2016 (LBO) – Sri Lanka's securities regulator is reconsidering the minimum public float rule as the intention of introducing such rule was not met, a senior official at the CSE said.Chief Executive Officer at the Colombo Stock Exchange Rajeeva Bandaranaike said the intention of introducing the minimum holding rule was to encourage the public float."The intention was good, but companies really did not choose to divest. Instead some companies choose to demote themselves to Diri Savi board and some others choose to de-list,"...
Chamber welcomes ETCA; urges consultations with private sector
Feb 25, 2016 (LBO) – The Ceylon Chamber of Commerce has hailed the proposed Economic and Technology Cooperation Agreement (ETCA) with India, but has urged Systematic Consultations with the Private Sector.The chamber said in a statement that any bilateral or regional agreement that Sri Lanka forges must be supportive of the country’s holistic economic interests rather than cater to individual business interests.“It must recognise size asymmetry of the economy; and must take a phased approach to liberalisation where domestic regulatory...
Central Bank Governor and officials before COPE today
Feb 25, 2016 (LBO) – The Central Bank Governor Arjuna Mahendran and several top officials will appear before the Committee on Public Enterprises (COPE) today, Deputy Minister Ranjan Ramanayake said.The Committee headed by JVP Parliamentarian Sunil Handunetti has commenced an inquiry into the Treasury bond auction of the Central Bank that was termed a “scam” which occurred early last year.“They have been directed to appear before COPE, at 2.30 in the afternoon. This is an inquiry and this is the first time the new COPE officials...
COMMERCIAL BANK OF CEYLON - SCRIP DIVIDEND ANNOUNCEMENT
COMMERCIAL BANK OF CEYLON PLC Company ID: - COMB SCRIP DIVIDEND Date of Announcement: - 25.Feb.2016 Proportion: - Voting - One (01) share for 69.444444 shares / Non-Voting - One (01) share for 61.666667 shares Qty Offered: - Voting - 11,817,190 / Non-Voting- 912,967 Financial Year: - 2015 Shareholder Approval: - Required Dates to be notif...
COMMERCIAL BANK OF CEYLON - CASH DIVIDEND ANNOUNCEMENT
COMMERCIAL BANK OF CEYLON PLC Company ID: - COMB CASH DIVIDEND Date of Announcement: - 25.Feb.2016 Rate of Dividend: - Rs.3.00 per share (Voting & Non-Voting) / Final Dividend Financial Year: - 2015 Shareholder Approval: - Required Dates to be notif...
COMMERCIAL LEASING & FINANCE (CLC) - CORPORATE DISCLOSURE
http://www.cse.lk/cmt/upload_cse_announcements/4111456393254_....
OVERSEAS REALTY - DIVIDEND ANNOUNCEMENTS
OVERSEAS REALITY (CEYLON) PLC Company ID: - OSEA Date of Announcement: - 25.Feb.2016 Rate of Dividend: - Rs. 1.50 per share / First and Final Dividend Financial Year: -2015 Shareholder Approval: - Required Dates to be notif...
UNITED MOTORS LANK - DIVIDEND ANNOUNCEMENTS
UNITED MOTORS LANKA PLC Company ID: - UML Date of Announcement: - 25.Feb.2016 Rate of Dividend: - Rs. 4.00 per share / Second Interim Dividend Financial Year: -2015/2016 XD: - 08.Mar.2016 Payment: - 16.Mar.2016 Share Transfer Book O...
NUWARA ELIYA HOTELS COMPANY - DIVIDEND ANNOUNCEMENTS
NUWARA ELIYA HOTELS COMPANY PLC Company ID: - NEH Date of Announcement: - 25.Feb.2016 Rate of Dividend: - Rs.30.00 per share / Interim Dividend Financial Year: -2015/2016 XD: - 08.Mar.2016 Payment: - 17.Mar.2016 Share Transfer Book O...
AITKEN SPENCE PLANTATION MANAGEMENTS - DIVIDEND ANNOUNCEMENTS
AITKEN SPENCE PLANTATION MANAGEMENTS PLC Company ID: - ASPM Date of Announcement: - 25.Feb.2016 Rate of Dividend: - Rs.2.00 per share / Interim Dividend Financial Year: -2015/2016 XD: - 08.Mar.2016 Payment: - 14.Mar.2016 Share Transfer Book O...
SENKADAGALA FINANCE - DIVIDEND ANNOUNCEMENTS
SENKADAGALA FINANCE PLC Company ID: - SFCL Date of Announcement: - 25.Feb.2016 Rate of Dividend: - Rs.0.65 per share / Second Interim Dividend Financial Year: -2015/2016 XD: - 08.Mar.2016 Payment: - 16.Mar.2016 Share Transfer Book O...
Wednesday, February 24, 2016
Sri Lanka *market update* USD/LKR 1wk 144.65/70, ASPI trading down 0.3-pct
USD/LKR one week quoted at 144.65/70, dealers said. (Feb 24, 2016 12.05 p.m)ASPI trading at 6,213.80, down 15.19 points or 0.30 percent with losses in some banking and finance sector stocks like Seylan Bank and Commercial Leasing and Lanka Orix Leasing, brokers said. (Feb 24, 2016 12.05 p.m)&nb...
Prime Minister says ETCA being formulated, Sri Lankans won't lose jobs
Feb 24, 2016 (LBO) – Sri Lanka is currently at the formulating stage of an “Economic Technology Cooperation Agreement” with India, Prime Minister Ranil Wickremesinghe said in Parliament Tuesday. This agreement will not lead to Sri Lankans losing jobs, he added. “We still haven’t seen India’s version. We have to put the two proposals together before we can come to an agreement,” Wickremesinghe said. Professional associations raised concerns about the flow of professionals between the two countries, but Wickremesinghe said there...
Sri Lanka stocks down 0.2-pct
Feb 24, 2016 (LBO) – Sri Lankan stocks closed down at 0.18 percent with losses in some banking and finance sector stocks with low retail investor activity, brokers said.The Colombo benchmark All Share Price Index (ASPI) closed 11.35 points down at 6,217.64 down 0.18 percent. The S&P SL20 closed 0.91 points down at 3,260.80 down 0.03 percent.Turnover was 384 million rupees, down from 605 million rupees Tuesday with 50 stocks closing positive against 90 negative.“It was a dull day with low retail investor activity and we expect...
New salaries commission to review public, private salary structures
Feb 24, 2016 (LBO) – The cabinet has decided to appoint a new Salaries and Cadre Commission to broadly and formally review salary structures and cadre requirements with a view to creating a more effective and contented Public Service.The proposed commission which will comprise of learned and experienced officers is also to formulate a salaries and cadre policy having regard to the manpower needs of the private sector.The President in his manifesto has given an undertaking to set in motion necessary measures to improve efficiency...
DFCC BANK - DIVIDEND ANNOUNCEMENTS
DFCC BANK PLC Company ID: - DFCC Date of Announcement: - 24.Feb.2016 Rate of Dividend: - Rs.2.50 per share / First & Final Dividend Financial Year: -2015 XD: - 04.Mar.2016 Payment: - 16.Mar.2016 Share Transfer Book O...
UNION ASSURANCE - DIVIDEND ANNOUNCEMENTS
UNION ASSURANCE PLC Company ID: - UAL Date of Announcement: - 24.Feb.2016 Rate of Dividend: - Rs.8.50 per share / First & Final Dividend Financial Year: -2015 XD: - 04.Mar.2016 Payment: - 16.Mar.2016 Share Transfer Book O...
RICHARD PIERIS EXPORTS - DIVIDEND ANNOUNCEMENTS
RICHARD PIERIS EXPORTS PLC Company ID: - REXP Date of Announcement: - 24.Feb.2016 Rate of Dividend: - Rs.12.50 per share / Interim Dividend Financial Year: -2015 / 2016 XD: - 04.Mar.2016 Payment: - 14.Mar.2016 Share Transfer Book O...
UNION BANK OF COLOMBO - DIVIDEND ANNOUNCEMENTS
UNION BANK OF COLOMBO PLC Company ID: - UBC Date of Announcement: - 24.Feb.2016 Rate of Dividend: - Rs.0.04 per share / Final Dividend Financial Year: -2015 XD: - 04.Mar.2016 Payment: - 16.Mar.2016 Share Transfer Book O...
ASIRI HOSPITAL HOLDINGS (ASIR) - CORPORATE DISCLOSURE
http://www.cse.lk/cmt/upload_cse_announcements/5541456315017_....
DIALOG AXIATA - CORPORATE DISCLOSURE
http://www.cse.lk/cmt/upload_cse_announcements/3121456315088_....
Tuesday, February 23, 2016
NESTLE LANKA - DIVIDEND ANNOUNCEMENTS (INTERIM AND FINAL)
NESTLE LANKA PLC Company ID: - NEST Date of Announcement: - 23.Feb.2016 Rate of Dividend: - Rs.34.50 per share /Interim Dividend Financial Year: -2015 XD: - 03.Mar.2016 Payment: - 15.Mar.2016 Share Transfer Book Open Date of Announcement: - 23.Feb.2016 Rate of Dividend: - Rs.30.00 per share /Final Dividend Financial Year: -2015 Shareholder Approval: - Required AGM: - 05.May.2016 XD: - 06.May.2016 Payment: - 16.May.2016 Share Transfer Book O...
LANKA TILES - DIVIDEND ANNOUNCEMENTS
LANKA TILES PLC Company ID: - TILE Date of Announcement: - 23.Feb.2016 Rate of Dividend: - Rs.3.00 per share / Interim Dividend Financial Year: -2015 / 2016 XD: - 03.Mar.2016 Payment: - 15.Mar.2016 Share Transfer Book O...
COMMERCIAL DEVELOPMENT COMPANY - DIVIDEND ANNOUNCEMENTS
COMMERCIAL DEVELOPMENT COMPANY PLC Company ID:- COMD Date of Announcement:- 23.Feb.2016 Rate of Dividend:- Rs.3.00 per share /Final Dividend Financial Year:- 2015 Shareholder Approval:- Required Dates to be notifi...
Sri Lanka *market update* ASPI closed down 0.35-pct, USD/LKR 1wk closing 144.65/70
USD/LKR one week closing 144.65/70, dealers said. (Feb 23, 2016 16.50 p.m)ASPI closed at 6,228.99, down 21.79 points or 0.35 percent with losses in Ceylon Tobacco Company and Lanka Orix Leasing Company, brokers said. Turnover was 605 million rupees. (Feb 23, 2016 15.50 p.m)Sri Lanka bond yield curve picks up around 30 basis points on low volumes after Friday’s monetary policy decision to hike rates by 50 basis points. USD/LKR flat at 144, one week forward ticks lower to 144.55/65.Lower liquidity in system...
Sri Lanka lending to increase to USD 2Bn by 2016: ADB President
Feb 23, 2016 (LBO) – Asian Development Bank said it will scale up lending to Sri Lanka to 2 billion US dollars in loans and equity in 2016 through 2018 compared to the 1.5 billion US dollars in the past three years.“ADB is re-orienting its operations to meet the evolving needs of Sri Lanka as it moves to become an upper middle income country in the next few years,” Takehiko Nakao, President, Asian Development Bank said at a press conference in Colombo, Tuesday.“We have decided to increase annual lending in 2016 to 700 million...
Sri Lanka inflation NCPI decelerates 0.7-pct in Jan 2016
Feb 23, 2016 (LBO) – Sri Lanka’s consumer prices decelerated 0.7 percent in January from a year earlier, compared with a 4.2 percent rise in December, data from the state statistics office showed.In December, inflation rose at a slower pace as compared with November’s 4.8 percent, the new index with a base year of 2013 showed.The NCPI in December fell 1.1 percent on a month-on-month basis, from 1.1 percent rise a month ago.The NCPI for all items for the month of January 2015 was 112.0.A decrease of 1.2 index points or a percentage...
Friday, February 19, 2016
Ceylon Dollar Bond Fund at ‘BB-/ V5′: Fitch
Feb 19, 2016 (LBO) – Fitch Ratings has affirmed Ceylon Dollar Bond Fund's Fund Credit Quality Rating of 'BB-' and affirmed the Fund Volatility Rating at 'V5′.The fund is managed by Ceylon Asset Management (CAM).The full statement follows: Fitch Affirms Ceylon Dollar Bond Fund at 'BB-/ V5'Fitch Ratings-London/Colombo-19 February 2016: Fitch Ratings has affirmed Ceylon Dollar Bond Fund's Fund Credit Quality Rating of 'BB-' and affirmed the Fund Volatility Rating at 'V5′. The fund is managed by Ceylon...
Sri Lanka stocks up 0.7-pct
Feb 19, 2016 (LBO) – Sri Lankan stocks closed up at 0.67 percent with gains in most of the index heavy stocks, brokers said.The Colombo benchmark All Share Price Index (ASPI) closed 41.89 points up at 6,250.89 up 0.67 percent. The S&P SL20 closed 28.45 points up at 3,269.24 up 0.88 percent.Turnover was 1.5 billion rupees, up from 534 million rupees Thursday with 86 stocks closing positive against 60 negative.“There was one off the floor trade amounting to one billion rupees that accounted for most of the day’s turnover,”...
Fitch affirms Ceylon Dollar Bond Fund at BB-/ V5
Fitch Ratings has affirmed Ceylon Dollar Bond Fund's Fund Credit Quality Rating of 'BB-' and affirmed the Fund Volatility Rating at 'V5′. The fund is managed by Ceylon Asset Management (CAM).KEY RATING DRIVERSThe affirmation of the 'BB-' Fund Credit Quality Rating is driven by the weighted average rating factor (WARF) and rating distribution based on the expected composition of the fund and the fund's investment guidelines. The fund has a limited investment space as it will only invest in US dollar bonds issued by the government...
ADB to lend USD 500Mn, shifting focus in Sri Lanka lending
Feb 19, 2016 (LBO) – The Asian Development Bank will lend 505 million dollars to Sri Lanka in 2016 and focus on new areas like private sector development, knowledge solutions, and development of advanced infrastructure, a new report said.“ADB will continue to support Sri Lanka in new areas such as private sector development, knowledge solutions, and development of advanced infrastructure as the country transforms into an upper-middle-income country,” the newly launched ADB Sri Lanka Development Effectiveness Brief said.“Sri...
Sri Lanka *market update* Sri Lanka stocks rebound, ASPI up 0.35-pct turnover Rs.1.3 bn
ASPI trading at 6,230.79, up 21.90 points or 0.35 percent with gains in Dialog Axaita and Commercial Bank. Over 1.3 million shares of Peoples Leasing and Finance was traded with the stock now trading at 18.50 rupees, up 0.40 rupees. (Feb 19, 2016 12.30 p.m)Asian stock markets were down on Friday from a near three-week high as investors remained cautious about the outlook of the global economy, foreign media reports said. Asia Pacific’s MSCI’s outside Japan fell 0.2 percent while Japan’s Nikkei dropped...
Elusive global outlook requires urgent policy response, says OECD
Feb 19, 2016 (LBO) – Achieving strong growth in the global economy remains elusive, with only a modest recovery in advanced economies and slower activity in emerging markets, according to the OECD’s latest Interim Economic Outlook.“The world economy is likely to expand no faster in 2016 than in 2015, its slowest pace in five years. Trade and investment are weak. Sluggish demand is leading to low inflation and inadequate wage and employment growth,” the report states.The downgrade in the global outlook since the previous Economic...
Sri Lanka to collect corporate taxes online from next month
Feb 19, 2016 (LBO) – Sri Lanka’s state tax collector will gradually move out of manual tax administration by launching the first phase of RAMIS next month.Starting from March, six tax types namely VAT, SVAT, CT, NBT, PAYE and WHT will be collected under the Revenue Administration Management Information System (RAMIS).The Inland Revenue Department expects to collect over 95 percent of the total tax revenue through the first phase of this project which covers large and corporate tax payers in the island.As per the IRD information,...
CEYLON TOBACCO COMPANY - DIVIDEND ANNOUNCEMENT
CEYLON TOBACCO COMPANY PLC Company ID: - CTC Date of Announcement: - 19.Feb.2016 Rate of Dividend: - Rs.3.70 per share (Less WHT) / Final Dividend Financial Year: -2015 Shareholder Approval: - Required AGM: - 31.Mar.2016 XD: - 01.Apr.2016 Payment: - 11.Apr.2016 Share Transfer Book O...
HATTION NATIONAL BANK - CASH & SCRIP DIVIDEND ANNOUNCEMENT
HATTON NATIONAL BANK PLC Company ID: - HNB CASH DIVIDEND Date of Announcement: - 19.Feb.2016 Rate of Dividend: - Rs. 3.50 per share / Final Dividend Financial Year: - 2015 Shareholder Approval: - Required AGM: - 30.Mar.2016 XD: - 31.Mar.2016 Payment: - 08.Apr.2016 Share Transfer Book Open SCRIP DIVIDEND Date of Announcement: - 19.Feb.2016 Proportion: - Voting - One (01) share for 61.68 shares / Non-Voting - One (01) share for 57.46 shares Qty Offered: - Voting - 5,259,275.10 / Non-Voting - 1,416,906 Financial Year: - 2015 Shareholder...
Thursday, February 18, 2016
Sri Lanka *market update* USD/LKR 1 wk fwd 144.42/45, ASPI trading down 0.13-pct
USD/LKR one week forward 144.42/45, dealers said. (Feb 18, 2016 12.26 p.m)ASPI trading at 6,212.82, down 8.00 or 0.13 percent with losses in Sri Lanka Telecom and some high cap stocks, brokers said. (Feb 18, 2016 12.26 p.m)Asian shares continued their longest winning streak this year, Thursday following Iran’s statement to support other countries’ plans to boost oil prices. Japan’s Nikkei 225 rose 2.8 percent while South Korea’s KOSPI 200 was up 1.3 percent. Australia’s ASX 200 rose 1.5 percent but Singapore’s...
Crowdfunding platform Crowdisland.lk launched for Sri Lankan start ups
Feb 18, 2016 (LBO) – Sri Lankan start ups will be able to utilize a new crowdfunding platform, crowdisland.lk, launched on Wednesday with the backing of an experienced group of investors famiiiar with Sri Lankan companies, its founders said.Crowdfunding is the process of raising money to fund a project or business venture through many donors using an online platform.“Sri Lanka is witnessing a strong start-up culture that is sowing the seeds of innovation-driven growth for the future,” said Jeevan Gnanam, a co-founder of crowdisland.lk.Gnanam...
Everjobs to expand job opportunities to smaller Sri Lanka towns
Feb 18, 2016 (LBO) – Everjobs, a Rocket Internet company subsidiary, wants to expand beyond Sri Lanka’s main cities this year and encourage more local firms and job seekers to opt for cost effective options.“The cost of online recruitment is only about 10 percent of the cost of an offline option,” the company said, one year after commencing operations in Colombo.The site has a database of over 35,000 registered job seekers, and over 2,500...
One-fourth of Sri Lanka's population will be over 60 by 2050: WB
Feb 18, 2016 (LBO) – Sri Lanka will witness dramatic impacts on aging and urbanization contrary to the demographics of most South Asian economies, the World Bank said in a recent report.By 2050, it is projected that more than 25 percent of the population will be over 60, up from 13.4 percent in 2015.The World Bank says unlike most South Asian economies, Sri Lanka does not have a demographic dividend.Population aging will likely impact the country’s fiscal accounts through three channels: tax revenue, fiscal expenditure, and...
Sri Lanka's Orient Finance IPO backed by Janashakthi
Feb 18, 2016 (LBO) – Sri Lanka’s Orient Finance initial public offering was backed by Janashakthi Insurance given the trying market conditions for raising capital, a senior official said.“The biggest investor was the parent company (Janashakthi Insurance) because the way the restructuring went; during the amalgamation the parent had a cash out of their shares in the former Orient Finance,” Ramesh Schafter, director of Orient Finance told Lanka Business Online.“They had a commitment to re-invest; it was a deliberate thing,...
Perpetual Treasuries lead sponsor Investment Summit in Singapore
Feb 18, 2016 (LBO) – Sri Lankan primary dealer Perpetual Treasuries said it will be one of the lead sponsors of the Sri Lanka Investment Summit to be held in Singapore on March 15.This inaugural summit presented by FinanceAsia will be conducted with the objective of enhancing the image of Sri Lanka as a potential business hub for investors worldwide, the firm said in a statement.The event will feature a keynote address by Ravi Karunanayake, the Minister of Finance and Arjuna Mahendran Governor, Central Bank of Sri Lanka.“Presentations...
PEOPLE'S INSURANCE - DIVIDEND ANNOUNCEMENT
PEOPLE'S INSURANCE PLC Company ID: PINS Date of Announcement:- 18.Feb.2016 Rate of Dividend: - Rs. 0.60 per share / Final Dividend Financial Year: - 2015 Shareholder Approval: - Required DATES TO BE NOTIF...
ABANS FINANCE (AFSL) - FURTHER ANNOUNCEMENT RE: RIGHTS ISSUE 1 for 5 @ Rs. 25.00
http://www.cse.lk/cmt/upload_cse_announcements/5761455794780_....
Wednesday, February 17, 2016
Sri Lanka *market update* USD/LKR 1wk o/r 144.52/60, Asian stocks continue up trend
USD/LKR one week forward 144.52/60, dealers said. (Feb 17, 2016 1.15 p.m)ASPI trading at 6,246.28, down 7.88 points or 0.13 percent with losses in John Keells Holdings and some banking and finance stocks, brokers said. (Feb 17, 2016 10.30 a.m)Asian stocks were up on Wednesday following gains in the U.S. financial markets. Japan shares rose a third day with Nikkei 225 up 0.6 percent while South Korea’s KOSPI was also up 0.3 percent. Singapore’s STI as up 1.4 percent but Australia’s ASX 200 slipped 0.1 percent. (Feb...
Norges Bank increases shareholding in Dialog Axiata
Feb 17, 2016 (LBO) – Norges Bank has increased its shareholding in Dialog Axiata PLC to 63.7 million shares as of end December, data filed with the Colombo Stock Exchange shows. Norway’s Norges Bank, which manages the world’s biggest sovereign wealth fund, is now the sixth biggest shareholder in telecommunications company Dialog with a 0.8 percent stake. The shareholding is up from 28.7 million shares as of end September. Norges Bank Investment Management has close to a 800 billion dollars invested in global assets, a fund built...
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