Home  » Business



Dhammika to take personal stake in Singer Sri Lanka

First call on mandatory issue acceptances for him


Colombo business tycoon Dhammika Perera, owning slightly over 50% of the Hayleys conglomerate, will be taking up a personal stake in Singer Sri Lanka PLC of which Hayleys took control earlier this month by acquiring approx. 61.73% from its Dutch holding company.

In a mandatory offer document published last week and due to reach Singer shareholders later this week, Hayleys together with its subsidiaries, Volanka and Carbotels, offered the same Rs. 47 per share price to all other shareholders looking to sell.

The document said that based on acceptances received from Singer shareholders, allocations will firstly be made to Mr. Dhammika Perera, next to Hayleys Advantis, thirdly to Hayleys Agricultural Holdings, fourth to Hayleys Aventura and lastly to Hayleys.

This would mean that Perera, who is joint chairman of Hayleys will have first call on the Singer shares that become available through the mandatory offer. It was not indicated how many he would take.


Share market uptrend continues for second week

Equity markets continued its uptrend for the second consecutive week, aided by a slight uptick in second quarter GDP growth figures and waning concerns on the new Inland Revenue Bill, Acuity Stockbrokers said in their Share Market Weekly.Second quar...

Tangerine Beach boosts revenue and profits


Tangerine Beach Hotels PLC, the second seafront property built by entrepreneur George Ondaatjie, has modestly improved performance in the year ended March 31, 2017 boosting revenue 6% to Rs. 631.3 million and after tax profit 2% to Rs. 105.7 million wi...

EGM summoned for shareholder approvalSampath to issue up to Rs. 6 bn. unsecured, redeemable debentures

Sampath Bank PLC has summoned an Extraordinary General Meeting on Oct. 6 to obtain shareholder approval to raise up to rupees six billion through the issue of unsecured, subordinated, redeemable five-year debentures (Basel III compliant) with an option...

Combankenhances corporate website with assistive technology for differently-abled persons


The Commercial Bank of Ceylon has broken new ground in enhancing access for differently-abled persons by enriching its corporate website with special assistive technologies for users with visual disabilities, hearing impairments, physical disabilities ...

ICRA Lanka assigns issuer rating of [SL]BBB- with stable outlook to Alliance Finance Company PLC

ICRA Lanka Limited, subsidiary of ICRA Limited, group company of Moody’s Investors Service has assigned the issuer rating of [SL]BBB- (pronounced SL triple B minus) with a stable outlook to Alliance Finance Company PLC ("AFCP" or "...

LOLC claims to be top listed profit earner, but pays no dividend


Lanka Orix Leasing Company PLC which describes itself as the country’s "largest non-banking financial institution and one of the biggest diversified conglomerates in Sri Lanka" has posted an after tax group profit of Rs. 21 billion in t...

Aluminum becomes popular as a substitute for timber

Aluminium has now become a well accepted and popular substitute for timber in the manufacture of doors and windows, not only in high-rise buildings but also for low-rise application and houses, Mr. S.T. Nagendra, Chairman of Lanka Aluminium Industries ...

Always handmade, Always Unique Sri Lankan Products at Lakpahana


Lakpahana is a traditional Sri Lankan gift and souvenir shop. It is centrally located in Colombo 7, across from the Colombo Race Course. Free parking and hassle free shopping makes it a comfortable shopping experience at this treasure trove. A must vis...

SLINTEC and SLINTEC ACADEMY launches its MPhil degree in Nano and Advanced Technology

SLINTEC and SLINTEC Academy last Friday (Sept. 22) launched its MPhil degree in Nano and Advanced Technology at a ceremony held at Lakshman Kadirgamar Institute. The Minister of Science, Technology and Research Hon. Susil Premajayatha was the chief gue...



Lanka IOC Plc has appointed Servo Lube Distributor for Trincomalee district on 21.09.2017.Senior Vice President -Lubes (M&P) Mr. B.B.Patra, Senior Vice President (OPS & LBP) Mr Chittem Raju, Manager Sales Mr. Arafath Ismail, Executive Blendi...

animated gif
Processing Request
Please Wait...