Sri Lanka’s largest brewer slams govt. on alcohol policy

Fully-charged Lion Brewery Ceylon PLC, Sri Lanka’s largest brewer, has slammed the new government for toying with the country’s alcohol policy, endangering the health of the population. 

CIC 2Q profits boosted 40% by agri, livestock operations

Agrochemical giant CIC Holdings PLC (CIC) posted a net profit of Rs.257.07 million for its second quarter ended September 2015 (2Q16), improving 40 percent year-on-year (YoY) through contributions from the agriculture and livestock sector.

Tokyo Cement net down 14%; Norwegian central bank among shareholders

Sri Lanka’s largest cement manufacturer Tokyo Cement Company (Lanka) PLC saw its group net profit for the September quarter (2Q16) falling 14 percent year-on-year (YoY) to Rs.489.7 million amid slower top line growth.

Aitken Spence Hotel 2Q net profit flat amid weak Maldives

?Aitken Spence Hotel Holdings PLC, which is the second largest hotel operator in Sri Lanka, posted a net profit of Rs.210.21 million for the quarter ended September 2015 (2Q16)...

Rupee near record low on importer dollar demand

?REUTERS: The Sri Lankan rupee ended weaker yesterday, not far from an all-time low hit in the previous session, on importer dollar demand, while a private bank’s greenback sales prevented further fall in the local currency, dealers said.

Kelsey Development set to launch gated housing project in Negombo

Schaffter family controlled Kelsey Development PLC is preparing to launch a gated housing project in Negombo in the 1st quarter of the 2016/17 financial year, the company’s interim financial statements said.

Ceylon Hotels Corporation to fully acquire Ceylon Hotels Maldives

Ceylon Hotels Corporation (CHC) yesterday announced it has received the green light to fully acquire Ceylon Hotel Maldives (CHM) through its fully owned subsidiary United Hotels Company (UHCL).

Colombo Dockyard PLC on track towards steady financial progress

Having battled a period of struggle, Colombo Dockyard PLC is observed to be making continued financial progress as the September quarter (3Q15) saw its net profit soar 405 percent year-on-year (YoY) to Rs.183 million,..

Railway quarters completed under Slave Island Redevelopment Program (Stage II) opens

The ceremonial opening and handing over of keys to the residents of the railway quarters Block A&B took place on 29th of October at Justice Akbar Mawatha, Colombo 02. 

SLT fibre optic makes gaming fun again

No more lag, no more disconnections! Sri Lanka Telecom’s next-level fibre optic gives local gamers the chance to take their games to the next level with 100mbps data speeds and optimized packet routing paths. 

Intex South Asia marks debut in Colombo

Sri Lanka takes pride in hosting South Asia’s 1st International Apparel Fabric & Accessories Trade Fair – Intex South Asia 2015 which was declared opened by State Minister of International Trade, Sujeewa Senasinghe at the Sri Lanka Exhibition & Convention Centre, Colombo. 

Tokyo Cement launches Nippon Cement-PRO

In keeping pace with the rapidly changing Sri Lankan skyline, Tokyo Cement Group added yet another feather to its cap with the launch of ‘NIPPON CEMENT – PRO’ a new brand of high performance cement specially formulated...

We are driven to demonstrate ways in which energy can be conserved whilst maximizing profits – Acces

?Following are excerpts of the interview with Roshal Perera, Director of Access Energy Solutions (Pvt) Ltd.

Flexible Autos appoints Hayleys Travels as representatives

?Hayleys Travels has been appointed to represent the global car hire broker Flexible Autos in Sri Lanka and the Maldives.

Aitken Spence 3Q profit down as power sector contribution shrinks

The diversified conglomerate, Aitken Spence PLC saw its net profit for the quarter ended September 30, 2015 (2Q15) contracting by as much as 37.6 percent to Rs.361 million from a year ago as the group’s...

CT Holdings shelves project with Singapore’s Keppel Land

?CT Holdings PLC has suspended the development of its US$ 55.2 million joint venture luxury apartment complex in Kotahena, according to the group’s interim financial documents released to the Colombo Stock Exchange.

Favourable market conditions push Softlogic 2Q profits up 13%

?The diversified conglomerate, Softlogic Holdings PLC group (SHL) posted a net profit of Rs.116 million for the quarter ended September 30, 2015 (2Q15), up 13 percent from a year ago. 

Hemas records Rs.635.3mn net profit for 2Q

?Hemas Holdings PLC, which has interests in FMCG, healthcare, transportation and leisure saw its September (2Q16) group net profit falling a marginal 0.7 percent year-on-year (yoy) to Rs.635.3 million.

Commercial banks pump out Rs.49bn in leases in 9 months

In an startling revelation, the top eight private sector licensed commercial banks (LCBs) have given out a staggering Rs.48.6 billion worth of leases during the first nine months of 2015...

MAS top employees join rival company

A number of employees of the country’s largest apparel exporter MAS Holdings are said to be moving out this month to join rival Hela Clothing (Pvt) Limited, industry sources said.

HDFC Bank requests govt. support to upgrade low-end housing

The only state-owned listed bank, the Housing Development Finance Corporation Bank (HDFC Bank) has submitted a proposal to the Prime Minister requesting a Rs.50-70 billion annual loan facility for the next 5 years for the urgent upgrading of low-end housing in the country.

Senasinghe briefs high-powered Pakistani business delegation on country’s investment potential

A high- powered business delegation from Pakistan led by Khurram Dastigir Khan, Minister of Commerce of Pakistan visiting Sri Lanka and met with the State Minister of International Trade. Sujeewa Senasinghe at the BOI.  

PickMe launches business portal for enterprise

PickMe’s ‘PickMe Business’ business portal is set to revolutionise the transport administration of businesses. Taking a step forward from supplying efficient transportation to individual users via the PickMe app now even businesses can enjoy the same ‘smart’ service PickMe provides via PickMe Business. 

Union Assurance pioneers Life insurance service in Bakamuna

Union Assurance added another branch to its already impressive coverage of the island, by opening a branch in Bakamuna, offering customers in the potential business hub a wide array of Life insurance solutions.

Sri Lanka receives US$ 450mn deposits from Swiss Bank account holders: FinMin

Finance Minister Ravi Karunanayake said that since the government invited the Swiss Bank account holders to deposit their money here, Sri Lankan  banks have received US$ 450 million.

Alpha opens doors to latest Concept Store

Alpha Industries, one of the leading furniture manufacturers in Sri Lanka, opened their latest Concept Store on 13th November.  The new store - located at Dharmapala Mawatha, Colombo 7 – has been specifically created to fill the gap between affordability and luxury.

JLanka Technologies introduces solar panel technology to local market

Total green energy solutions provider JLanka Technologies in another pioneering venture introduced the latest solar panel technology being used by their global partners Trina Solar which allows solar panels to be more efficient in their assigned tasks.

IIT Campus continues winning streak at NBQSA

The Informatics Institute of Technology (IIT) once again bagged multiple accolades at the recently concluded National Best Quality Software Awards 2015.  This was sixth year IIT Campus has been adjudicated as a winner at NBQSA since the competitions inception in 1998. 

Bren Security ‘Hard Talk’ focuses on uplifting security guards’ service quality

Moves to uplift the service quality of security guards was focused at the annual “Hard Talk” event of Bren Security (Pvt) Ltd, the Sri Lankan partner of the worldwide Securitas AB group held at 8 Degrees on the Lake, Cinnamon Lakeside recently.

Rupee at record low on importer dlr demand

?REUTERS - The Sri Lankan rupee struggled at its record low yesterday due to importer dollar demand while moral suasion by the central bank capped any further fall, currency dealers said.