Sri Lanka’s first pharma zone to open with US$ 10 million investment

I The Stale Pharmaceuticals Manufacturing Corporation of Sri Lanka (SPMC) and Pharma Zone (Pvt) Ltd entered into an agreement on January 8, 2018, to build the first ever exclusive pharmaceutical manufacturing zone of Sri Lanka at Welipenna in the Kalutara district with an investment in excess of US $ 10 million.

Pharma Zone (Pvt) Ltd located on 50 acres is a BOI approved company whose principals are the Sultan of Johor, Sultan Ibrahim Ismail Ibni Sultan Iskandar and Patrick Lim Soo Kit, a leading Malaysian entrepreneur.

The Sultan’s investment vehicle, Inti Kemuncak Sdn Bhd is a well-established property development company based in Malaysia focusing on large scale property development in the Asian region. Inti Kemuncak is the innovative developer of major townships and urban regeneration projects including a coronation square, a US S 1.2 billion international class urban mixed development located within the prestigious Ibrahim International Business District (IIBD) in Johor Bahru.

The Pharma Zone will facilitate the local pharmaceutical manufactuers with sufficient land for manufacturing plants and basic infrastructure facilities for the manufacture of pharmaceutical products with a view to achieving the Governments target of localising production of essential pharmaceutical items to a value of US$100 million, thus saving valuable foreign exchange.

Chairman SPMC, Dr. Sayura Samarasundara said that with the completion of the Pharma Zone, envisaged to be in operation within one year, the country’s dependency on imported drugs will soon become a thing of the past.

The zone will be run and administered by Pharma Zone, headed by Patrick Lim Soo Kit, while the SPMC along with the Ministry of Health will set the standards and monitor quality.

Electricity, water, road infrastructure, security, waste water management, etc will all be provided to the companies operating within the zone, and it is the intention of Pharma Zone to attract overseas investors to set up operations within the Zone as well. “We will be marketing Pharma Zone regionally,” said Lim.

With the establishment of Pharma Zone it is hoped that most of Sri Lanka’s drug availability and cost issues will soon come to an end.

¬NEWS¬

Car registrations down by 40%, three wheelers by 50% in 2017

Motor car registrations have come down by 40% on a month and month basis mainly due to drop in financing share of motor cars. The three wheeler segment came down by nearly 50%,according to the JB Securities monthly review.

Implementation of the budget proposal to restrict credit to new cars (50% LTV) and three wheelers (25% LTV) is the primary factor accounting for a plunge in registrations. The full impact of the directive will only be felt this month, the report said. However there have been a surge in Hyundai Eon cars (100% increase)According to JB Securities monthly review in contrast there have been an in increase of used cars, especially Toyota’s and also electric cars are picking up.

There was also a big jump in Hybrid used cars where Axio witnessed a large increase (200+) while there was also an increase in Mini Vans(268% increase) with the biggest mover being Suzuki Every.

“Three wheelers may be a menace on the road but it has been a huge contributor in creating inclusive growth both in terms of being a production asset (taxi) and/or personal vehicle providing mobility to the owner which in turn increases his radius of employment opportunities. ability to work flexible work hours due lo not being reliant on public transport, access to markets.

The segment also saw Bajaj losing market share to TVS,” the J. B. Securities said. The report also says that mini trucks have come down by 20% while the registration for Buses have gone up by 40%.

NEWS

Avoid Cash or Cheques payment, and try SLIPS (Sri Lanka Inter-bank Payment System) by Central Bank

Central Bank of Sri Lanka introduces Sri Lanka Inter-bank Payment System (SLIPS) for individual and bulk payments to multiple parties up to Rs. 5 Million per Transaction on same day or any days up to 14 days as payment due. this service is available minimum fee of Rs.50 per individual transaction and Bulk transaction can be negotiated with your bank.

SLIPS introduce to make quick transection with great convenience and minimise use of currency.

This SLIPS has commenced operations in 1994 and was launched online in 2010 with 44 banks and financial institutions are currently connected. SLIPS has done successful transaction of 126.9mn amounting to Rs. 5,528 billion up to 2016 (since 2010).

Contact your commercial bank for more details or contact to Payments and Settlements Department of Central Bank of Sri Lanka 30, Janadhipathi Mawatha Colombo 01 on 011 2398596 or see below image

Avoid Cash or Cheques payment, and try SLIPS (Sri Lanka Inter-bank Payment System) by Central Bank
Avoid Cash or Cheques payment, and try SLIPS (Sri Lanka Inter-bank Payment System) by Central Bank

Sri Lanka Economic Summit 2016 by The Ceylon Chamber of Commerce

Sri Lanka’s economic growth potential is not unknown. Its strategic geographical location, proximity and access to growing markets in Asia, high basic development indicators, and human and environmental assets, put it on a strong footing to be a star performer in Asia. Yet, the ability to transform this clear potential into strong performance seems to be elusive. What is required now is to move from issues to solutions, from potential to performance, and from rhetoric to action. The focus of this year’s Sri Lanka Economic Summit is precisely that; transforming Sri Lanka’s potential with action.

This year’s Summit brings together a unique mix of those who know it and those who have done it. Speakers include top names from across the world who, through focussed action and high performance, have made progress and made a change. Sessions are structured to ensure that participants understand the issues, but are swiftly moved on to discussing possible solutions and feasible action. Speakers will highlight good practices from other contexts and distill lessons for Sri Lanka’s own economic transformation.

The Session on Private-Public Partnerships will discuss specific actions that need to be taken to mobilise private investment to meet public policy challenges, including good practices in devising PPPs that balance investor and government interests.

The Session on talent and human resources will attempt to overcome conventional thinking, to take a

close look at practical options for Sri Lanka to meet emerging skill needs through liberalizing inward migration for certain sectors, attracting back skilled workers in the diaspora, and improving the climate for young people to thrive.

In the session on Tourism, speakers will discuss what it will take to position Sri Lanka strongly in overseas travel markets, attracting investment and quality tourists, and navigate new challenges brought on by the digital economy and informality.

The session on international logistics and trade will explore what concrete steps need to be taken to leverage on Sri Lanka’s location, including attracting international players into the country’s logistics industry, modernizing infrastructure with private sector partnerships, and linking into global value chains.

In the session on agriculture, speakers will take an incisive look at why existing agricultural and land policies are holding back productivity in the sector, what short and long term options are available to transform plantations given the political economy sensitivities, and how to boost agribusinesses.

With the state-owned enterprise sector still playing a dominant role in the economy and the public sector expected to deliver on economic transformation, the final session will explore what reforms are needed in the public sector to enable faster growth.

Sri Lanka Economic Summit 2016 -Day 1 (Tuesday, 2nd August 2016)

08:00 hrs: Registration

0900 – 0930 hrs: Inaugural Session

0930 – 1100 hrs: Session 1

Accelerating Growth, Pushing for Performance

Keynote Speakers:  Hon Ravi Karunanayake – Minister of Finance

Panelists: Mr Weerakoon Wijewardena – Former Deputy Governor, Central Bank of Sri Lanka, Prof Razeen Sally – Chairman, Institute of Policy Studies

Moderator: Mr Suresh Shah – Immdt Past Chairman, The Ceylon Chamber of Commerce

1100 – 1130 hrs Tea Break

1130 – 1300 hrs Session 2

Private Public Partnerships – Getting Them Done, Getting Them Right

Keynote Speakers: Mr Gajendra Haldea – Advisor, Government of Rajasthan, India,

Hon Eran Wickramarathne – Deputy Minister of State Enterprises and Entrepreneurship,

Mr Kamal Dorabawila – Principal Investment Officer, IFC

Panelists: Mr Romesh David – President, Transportation and Information Technology, John Keells Holdings,

Mr Thilan Wijesinghe – Chairman, TWCorp

Moderator: Ms Helani Galpaya – CEO, LIRNEasia

1400 – 1530 hrs Session 3

Tourism – Delivering the Potential

Keynote Speakers: Mr Michael Cottan – Executive Vice President, Shangri-La International Hotel Management Ltd

Mr Andrew Fairley – Director, Tourism Australia

Mr Mike Orgill – Director, Public Policy Asia Pacific, AirBnB

Mr Jörn Krausser – Vice President Intercontinental Travel, DERTOUR

Panelist: Mr Krishan Balendra – President Leisure Sector, John Keells Holdings PLC

Moderator: Ms Shiromal Cooray – Managing Director, Jetwing Travels

1530 – 1600 hrs Tea break

1600 – 1730 hrs Session 4

International Trade and Logistics – Leveraging on Location

Keynote Speakers: Mr Sarathkumara Premachandra – Managing Director, Sri Lanka Ports Authority

Mr Steve Saxon – Expert Partner, McKinsey & Company

Dr Saman Kalegama – Executive Director, Institute of Policy Studies

Panelists: Hon Dr Harsha de Silva – Deputy Minister of Foreign Affairs

Mr Tissa Wickramasinghe – General Manager (Commercial & Marketing), Colombo International Container Terminals

Moderator: Mr Thilan Wijesinghe – Chairman, TWCorp

 

DAY 2 (Wednesday, 3rd August 2016)

0900 – 1030 hrs Session 5

Growing Sri Lanka’s Talent Pool – Reality Check & Pragmatic Options

Keynote Speakers: Dr Mohd Gazali Abas – Deputy Secretary-General (Operations), Ministry of Human Resources, Malaysia

Mr Rajan Anandan – Managing Director, Google India

Panelists: Mr Ashroff Omar – Chief Executive Officer, Brandix Lanka

Mr Keith Modder – Chief Operating Officer, Virtusa

Mr Ranjith Gunatilleke – Managing Director, Sanken Construction

Moderator: Mr Shamindra Kulamannage – Editor-in-Chief, Echelon

1030 – 1100 hrs Tea break

1100 – 1230 hrs Session 6

Commercial Agriculture – Tackling the Competitiveness and Political Challenges

Keynote Speakers: Dr Romesh Dias Bandaranaike – Chairman, Science Land

Mr Desmond Sheehy – Managing Director / Chief Investment Officer, Duxton Asset Management

Panelists: Mr Waruna Madawanarachchi – Chief Executive Officer, CIC Seeds

Dr Upali Ranasinghe – Chairman, CR Exports

Mrs Indira Malwatta – Chairperson, Export Development Board

Mr Roshan Rajadurai – Managing Director, Kelani Valley Plantation

Moderator: Dr Anura Ekanayake – Past Chairman, The Ceylon Chamber of Commerce

1330 – 1500 hrs Session 7

The Future of Public Enterprises

Keynote Speakers: Dato Sri Idris Jala – Chief Executive Officer, PEMANDU

Hon Kabir Hashim – Minister of Public Enterprises Development

Hon Mangala Samaraweera – Minister of Foreign Affairs

Hon Anura Kumara Dissanayake – Member of Parliament

Moderator: Mr Anushka Wijesinha – Chief Economist, The Ceylon Chamber of Commerce

1500 – 1600 hrs Closing Session

1630 hrs Refreshments & Networking

Close of Summit

Investment:

Local Participants

Single participant (Patron Member company): @ LKR 25,000/- (including local taxes)

Single participant (Member company) : @ LKR 27,000/- (including local taxes)

Single participant (non-Member company) : @ LKR 30,000/- (including local taxes)

For 3 or more participants : @ LKR 25,000/- (including local taxes)

Foreign Participants: @ USD 250/-

Please send this form duly completed to: The Ceylon Chamber of Commerce, # 50 Navam Mawatha, Colombo 2, Sri Lanka contact 011 5588852 / 5588877

Sri Lanka Economic Summit 2016 by The Ceylon Chamber of Commerce
Sri Lanka Economic Summit 2016 by The Ceylon Chamber of Commerce

Mihin Lanka Losses accumulated Rs. 17 Billion by Now

Finance Ministry stated that the state run airline Mihin Lanka has recorded a loss of Rs. 17 Billion over its 7 years operation.
Finance Ministry said it had been given a Rs. 15 Billion letter of comfort in 2015 to continue its operations and the ministry is expected to reduce losses to Rs. 938 million, from Rs. 1.48 Billion in last year.

Maximise your Dollar Investment with US$ 150 million Sri Lanka Development Bond

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  • Non – Residents of Sri Lanka
  • Sri Lanka Dual Citizens
  • Non – Resident Foreign Currency (NRFC)
  • Resident Foreign Currency (RFC)
  • Resident Non – Nationals Foreign Currency (RNNFC)
  • Foreign Exchange Earners Accounts (FEEA)
  • Authorised Dealers in Foreign Exchange
  • Primary Dealers in Government Securities
  • Board of Investment of Sri Lanka Approved Companies
  • Specified Insurance Companies
  • Licensed Specialised Banks and Licensed Finance Companies
  • permitted to accept foreign currency deposits

Now open for subscription through First Capital Treasuries PLC Contact: +94 11 2639881, 2639889, 2639885

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Maximise your Dollar Investment with US$ 150 million Sri Lanka Development Bond
Maximise your Dollar Investment with US$ 150 million Sri Lanka Development Bond

New Terminal Building to construct for Bandaranaike International Airport

Transport and Civil Aviation Ministry Nimal Siripala de Silva said a new terminal building will be built at the Bandaranaike International Airport (BIA) at a cost of Rs. 65 billion. He further state that the present terminal building can accommodate only six million passengers. Where the BIA capacity is not sufficient to handle all passenger movements and air freight as last year alone there had been over 8.5 million passenger movements. That is why the government planned to construct a new terminal building for the airport.

He said accommodation facilities should be improved to attract tourists to the country and If we do not follow international standards in building airports and improving facilities according to passenger demands, airlines will not come to Sri Lanka.

And he further state the existing runaway will repair at a cost of Rs. 200 million while new runaway will be constructed at a cost of Rs. 8 billion as there is a necessity of a new runaway to accommodate more aircraft.

University of Colombo MBA Alumi Budget 2016 – Discussion with Finance Minister Hon. Ravi Karunanayake

The MBA Alumi Association University of Colombo organized a forum of Budget 2016 with the Finance Minister, Hon. Ravi Karunanayake & key industry leaders at the Post-Budget forum. Take part of this forum and knew unseen background of Budget 2016 and thoughts of industrial leaders.

Date: 24th November 2015

Time: 9am to 12pm

Venue: Hotel Galadari

Ticket Price: Rs. 3,500/-

This would usefull for businessmen, Financial analyst and those who key concern on budget 2016.

For more details contact to The MBA Alumi Association University of Colombo on 0772 224 994 or see below image

University of Colombo MBA Alumi Budget 2016 – Discussion with Finance Minister Hon. Ravi Karunanayake
University of Colombo MBA Alumi Budget 2016 – Discussion with Finance Minister Hon. Ravi Karunanayake

Commercial Bank open its new Bank services in Maldives

The Commercial Bank of Ceylon PLC has announced It is plans to extend their services to the Maldives following the receipt of regulatory approval.

Commercial Bank of Ceylon PLC is a Sri Lanka’s largest private bank  have obtained an approval from both the Maldives Monetary Authority and the Central Bank of Sri Lanka to set up a Commercial Bank of Ceylon PLC  banking subsidiary in the Maldives. This would be name as Commercial Bank of Maldives Pvt Limited and Commercial Bank of Ceylon PLC will invest 55% of stake and balance will own by leading group of Maldivian companies.

The bank start focusing into a new regional expansion after successful operation in Bangladesh, which entered in 2003, and Myanmar in June 2015.

Commercial Bank of Ceylon PLC  is enter to Maldives with single branch at male and increase their presence and increase upto 3 branches in near future and The Bank is to offer Mobile Units and ATM service at a strategic locations and the bank is willing to offer range of services like savings and current accounts, fixed deposits, personal loans, housing loans, credit cards, overdrafts, commercial loans, trade financing services, internet banking, mobile banking, remittances and foreign exchange.

First Capital Equity Fund – Start your Unit Trust fund from Rs. 1,000/-

This new open ended fund will invest in shares that are listed on the Colombo Stock Exchange and it is brought to you by the Unit Trust Fund Management Company that delivered the best fixed income returns in 2013 and 2014.

The First Capital Equity Fund is regulated by the Securities and Exchange Commission of Sri Lanka and is managed by qualified professionals.

Acquire a diversified equity portfolio investment from little as Rs. 1000/-

  • Terms and conditions apply
  • The price of units may fluctuate
  • Past performance is not a reliable indicator of future performance

For more information Tel No: + 94 11 7639813 / +94 11 2639898 or see below image

First Capital Equity Fund – Start your Unit Trust fund from Rs. 1,000.00
First Capital Equity Fund – Start your Unit Trust fund from Rs. 1,000.00

Foreign Currency Exchange ATM now at Sampath Bank Galle Super Branch

Sampath Bank’s newest Foreign Currency Exchange ATM serves you in Galle 24 hours a day 365 days of the year with the best rates for your American Dollars and Euros. Apart from the ability to convert foreign currency to rupees this new ATM is also capable of serving you with all other standard features and services of an ATM.

No. 05, Wakwella Road, Galle

Foreign Currency Exchange ATM now at Sampath Bank Galle Super Branch
Foreign Currency Exchange ATM now at Sampath Bank Galle Super Branch

Asiri Surgical Hospital PLC announces Dividend for 2014/2015

Asiri Surgical Hospital PLC announce to Colombo Stock Exchange that the company is proposed to offer Dividend for financial year of 2014/2015

  • Company ID: – AMSL
  • Date of Announcement: – 09.Mar.2015
  • Dividend per Share: – Rs. 0.40 per share / Interim Dividend
  • Financial Year: – 2014/2015
  • XD: – 18.Mar.2015
  • Payment: – 25.Mar.2015
  • Share Transfer Book Open

For more details visit www.cse.lk

Asiri Hospital Holdings PLC announces Dividend for 2014/2015

Asiri Hospital Holdings PLC announce to Colombo Stock Exchange that the company is proposed to offer Dividend for financial Year of 2014/2015

  • Company ID: – ASIR
  • Date of Announcement: – 09.Mar.2015
  • Dividend per Share: – Rs. 0.50 per share (Rs. 0.33 is tax free – i.e. paid out of dividends received) / Interim Dividend
  • Financial Year: – 2014/2015
  • XD: – 18.Mar.2015
  • Payment: – 27.Mar.2015
  • Share Transfer Book Open

For more details visit www.cse.lk

Trans Asia Hotels PLC announces Dividend for 2014

Trans Asia Hotels PLC announce to Colombo Stock Exchange that the company is proposed to offer Dividend for 2014

  • Company ID: – TRAN
  • Date of Announcement: – 09.Mar.2015
  • Dividend per Share: – Rs. 1.50 per share / Interim Dividend
  • Financial Year: – 2014/2015
  • XD: – 18.Mar.2015
  • Payment: – 27.Mar.2015
  • Share Transfer Book Open

For more details visit www.cse.lk

Sanasa Development Bank PLC announces Cash and Scrip Dividend for 2014

Cash Dividend

  • Date of Announcement:- 10.Mar.2015
  • Rate of Dividend: – Rs. 2.50 per share (Subject to Dividend Tax of 10%) / Final Dividend
  • Financial Year: – 2014
  • Shareholder Approval: – Required
  • Dates to be notified

 

Scrip Dividend

  • Date of Announcement: – 10.Mar.2015
  • Proportion: – One (01) share for every 15.080 existing shares held
  • Qty Offered: – 2,504,177
  • Financial Year: – 2014
  • Shareholder Approval: – Required
  • Share Transfer Book Open
  • Dates to be notified

For more details visit www.cse.lk

Lanka Aluminium Industries PLC announces Dividend for 2014/2015

Lanka Aluminium Industries PLC announces Dividend for 2014/2015 at Colombo Stock Exchange last week,

  • Company ID: – LALU
  • Date of Announcement: – 10.Mar.2015
  • Dividend per Share: – Rs. 1.50 per share / Interim Dividend
  • Financial Year: – 2014/2015
  • XD: – 19.Mar.2015
  • Payment: – 30.Mar.2015
  • Share Transfer Book Open

For more details visit www.cse.lk

 

Commercial Bank of Ceylon PLC announces a Cash Dividend and Scrip Dividend

Commercial Bank of Ceylon PLC announces a Cash Dividend and Scrip Dividend to Colombo stock exchange on last week,

Cash Dividend

  • Date of Initial Announcement:- 23.Feb.2015
  • Rate of Dividend:- Rs.2.00 per share (Voting & Non-voting) / Final Dividend
  • Financial Year: – 2014
  • Shareholder Approval: – Required
  • AGM:- 31.Mar.2015
  • XD:- 01.Apr.2015
  • Payment: – 10.Apr.2015
  • Share Transfer Book Open

 

Scrip Dividend

  • Date of Initial Announcement: – 23.Feb.2015
  • Proportion: – Voting – One (01) share for 99.888889 shares
  • Non-voting – One (01) share for 77.222222 shares
  • Qty Offered: – Voting – 8,114,083
  • Non-voting – 719,740
  • Financial Year: – 2014
  • Shareholder Approval: – Required
  • AGM:- 31.Mar.2015
  • XD:-01.Apr.2015
  • Share Transfer Book Open

For more details visit www.cse.lk

Overseas Realty (Ceylon) PLC announces Dividend for 2014

Overseas Realty (Ceylon) PLC announces Dividend for 2014 in Colombo Stock Exchange on 11th March 2015.

  • Company ID: – OSEA
  • Date of Announcement: – 11.Mar.2015
  • Dividend per Share: – Rs. 0.50 per share / Second Final Dividend
  • Financial Year: – 2014
  • Shareholder Approval: – Required
  • AGM: – 06.May.2015
  • XD: – 07.May.2015
  • Payment: – 15.May.2015
  • Share Transfer Book Open

For more details visit www.cse.lk

Asian Hotels and Properties PLC announces Dividend for 2014/2015

Asian Hotels and Properties PLC announces Dividend for 2014/2015 at Colombo Stock Exchange on March 11, 2015.

  • Company ID: – AHPL
  • Date of Announcement: – 11.Mar.2015
  • Dividend per Share: – Rs. 1.00 per share / Interim Dividend
  • Financial Year: – 2014/2015
  • XD: – 20.Mar.2015
  • Payment: – 31.Mar.2015
  • Share Transfer Book Open

For more details visit www.cse.lk

Amana- Candor Shariah Balanced Fund – Annual Dividend for Year end 2014

Candor Asset Management (Private) Limited announces a dividend of Rs. 1.00 per unit to the Unit Holders of Amana – Candor Shariah Balanced Fund whose names appear in the unit holder register as at 10th March 201 5.

Candor Asset Management (Private) Limited and the Shariah Supervisory Council of Amana Capital Limited hereby inform all Unit Holders of Amana – Candor Shariah Balanced Fund that the declared dividend of Rs. 1.00 per unit has been purified for non Shariah compliant income.

The following disclosure is made in respect of this dividend distribution

Dividend per unit Rs. 1.00
Net Asset Value per unit before the dividend Rs. 1.74/-
Net Asset Value per unit after the dividend Rs. 10.74
Dividend declaration date 10th March 2015
XD date: 11th March 2015
Payment date: 11th March 2015

 

For more details see below image for more details or contact to Candor Asset Management (Pvt) Ltd

Level 8, South Wing Millennium House, 46/58, Nawam Mawalha, Colombo 02

Tel: 011 2359 100

Amana- Candor Shariah Balanced Fund – Annual Dividend for Year end 2014
Amana- Candor Shariah Balanced Fund – Annual Dividend for Year end 2014

Bank of Ceylon Branch to be open in Bangalore in India

Bank of Ceylon is planning to open their second overseas branch in India this year. This will be in Bangalore. The Bank also opened a branch in Seychelles last year. In addition to the local presence, the bank maintains an off-shore banking units in Male, London and Chennai.

Senior banker and BOC General Manager, D M Gunasekara said that overseas branches are highly profitable. The Male branch has gave us a Rs. one billion profit while the Chennai branch which was in existent for over 10 years made a profit in the excess of Rs. 500 million.

Locally the bank has a network of 618 branches, and 534 automated teller machines (ATMs).

Government to develop a new national policy for tourism industry

Plans are under way to prepare a new national policy for the tourism industry in Sri Lanka, Tourism and Sports Minister Navin Dissanayake said.

Dissanayake said it has been decided to introduce a three year strategic plan related to the new national policy on tourism.

We decided to introduce a new national policy for the tourism industry with the aim of developing the Sri Lankan economy and living standards of the people. We hope to obtain the assistance of all for the success of this. And he said arrangements are being made to launch a special program to grant benefits for people in villages in line with the new policy. Creating new employment opportunities for Sri Lankan youth and making more spaces for village level persons to increase their earnings are the main objectives of this new national policy which is to be introduced to the Sri Lankan tourism industry.

Central Bank News Alerts on mobile for Dialog Customers

If you’re a dialog customer Type “REG CBSL” Send to 77000 to subscribe to the SMS news Alerts on the Daily Exchange Rates, Sri Lanka Interbank Offered Rates, Open Market Operations, Treasury Bill and Treasury Bond auction, Inflation and Monetary Policy Review issued by the Central Bank of Sri Lanka. Charges: Monthly 30 Rs +Tax

New Board of Directors for the Lanka Hospitals Corporation PLC

Lanka Hospitals Corporation PLC announces their new Directors appointed to the Board of The Lanka Hospitals Corporation PLC, effective from 3rd March 2015.

  • Sarath Paranavitane as an Independent Non Executive Director and the Chairman of the Company
  • Damien Fernando as an Independent Non Executive Director
  • Dilani Lokuhetty as an Independent Non Executive Director
  • Rohan L Wijesundera as an Independent Non Executive Director

Central Bank of Sri Lanka waiting for right time to rise up to US $1.5billion bond

Sri Lanka Central Bank Governor Arjuna Mahendran said to news that the Sri Lanka is waiting for the right time to launch a sovereign bond of up to US $1.5 billion, possibly with a longer tenure to roll over its debts in 2015.

The island nation’s last sovereign bond of US $500 million was priced at a yield of 5.125 percent in April 2014. And Now that inflation is coming down, I see no reason why we won’t get a better rate of interest, Mahendran told media.

Governor stated that we want to wait for an opportune moment. When that volatility decreases then we will be able to get the best possible rate for our borrowing and we will definitely go for a longer tenure, may be even a 20-year or 30-year is something to look for. We don’t want to increase the interest rate burden of the country.

News

Hayleys PLC debentures Allotments

Hayleys PLC announces to Colombo Stock Exchange that the Board of Directors of Hayleys PLC has decided to allot the subject Debentures on the following basis in respect of all valid applications:

Number of Debentures Applied Basis of Allotment
Type A
Applications up to and including 2,000,000 Debentures (i.e. up to and including LKR 200,000,000/-) 100% of the Debentures applied
Applications over 2,000,000 Debentures (i.e. over LKR 200,000,000/-) 2,000,000 Debentures pluss 43.92% of the Debentures applied over and above 2,000,000 Debentures rounded to the nearest 100 Debentures
Type B 100% of the Debentures applied

Renuka Agri Foods PLC Invest Rs. 609 Million on Renuka Organics (Pvt) Ltd

Renuka Agri Foods PLC  inform to Colombo Stock Exchange that the company has invested in 4,350,000 Ordinary Shares of its fully owned Subsidiary Renuka Organics (Pvt) Ltd of No. 69, Sri Jinaratana Road, Colombo 2, at Rs 140/= per share to a value of Rs 609,000,000/= on 27th February 2015. Renuka Organics (Pvt) Ltd is engaged in manufacturing and marketing certified organic agriculture products. Its subsidiary is engaged in plantations. The company will invest in plantations and other vertical integration projects to improve the supply chain.