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TAL Lanka Hotels in major moves to capitalize loans to tune of Rs. 1.3 billion

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By Hiran H.Senewiratne

TAL Lanka Hotels has announced a move by major shareholders to capitalize loans worth Rs. 1.3 billion by way of a private placement of shares.

The company has obtained loans from its major shareholders – TAL Hotels and Resorts Ltd., and IHOCO BV worth $ 4.47 million or Rs. 1.32 billion. Total outstanding capital due is US $ 3.65 million to TAL $ 820,000 to IHOCO.

TAL holds a 58.14% stake in the company and IHOCO 24.6 percent. To strengthen the financial position, the company has capitalized the loans due and payable to the major shareholders by converting such loans amounting to an aggregate of $ 4,469,962 (equivalent to Rs. 1,321,369,490) into equity by issuing ordinary voting shares in the company to major shareholders. The price at which new shares will be issued is Rs. 41 per share.

As at 31 December 2024, TAL had Rs. 3.5 billion in long-term interest bearing borrowings. Short term borrowings amounted to Rs. 568 million, down from Rs. 1.1 billion a year ago. The current stated capital of the company is Rs. 1.39 billion.

The public holding of the company is 17.24 percent held by 9,853 shareholders. The issue of shares by way of a Private Placement is subject to the fulfilment of certain conditions, including the CSE approving in principle the issue and listing of the Private Placement Shares and obtaining the consent of the shareholders of the company at a General Meeting.

Amid these developments yesterday the stock market kicked off on a negative note. Later it bounced back with the gaining of Lanka IOC stocks, which witnessed a 16 percent or Rs 19.50 price appreciation at the end of the trading. It is a significant price movement of Rs 19.50. Its shares traded at the outset at Rs 123 and it moved to Rs 142.50.

Amid those developments both indices moved upwards. The All Share Price Index went up by 126.8 points while S and P SL20 rose by 30.5 points. Turnover stood at Rs 5.94 billion with six crossings.

Those crossings were reported in JKH, which crossed 18.5 million shares to the tune of Rs 426 million and its shares traded at Rs 23.10, Seylan Bank (Non- Voting) 2.5 million shares crossed to the tune of Rs 148.8 million; its shares sold at Rs 59.50, Melstacope 688,000 shares crossed for Rs 89.2 million; its shares sold at Rs 131, LB Finance 750,000 shares crossed for Rs 65.5 million; its shares traded at Rs 91, Lanka IOC 500,000 shares crossed for Rs 65.5 million; its shares traded at Rs 131 and Vallibel One 850,000 shares crossed for Rs 57.2 million; its shares traded at Rs 67.50.

In the retail market top six companies that mainly contributed to the turnover were; Lanka IOC Rs 758 million (5.7 million shares traded), JKH Rs 452 million (19.6 million shares traded), HNB Rs 259 million (742,000 shares traded), Alumax 204 million (13.1 million shares traded), Browns Investments Rs 202 million (23.4 million shares traded) and Softlogic Life Rs 147 million (1.9 million shares traded). During the day 197 million share volumes changed hands in 34600 transactions.

It is said that the manufacturing sector led the market, especially with the JKH crossing and retail trading activities while the banking sector was the one of the largest contributorsto the turnover. Lanka IOC also played a pivotal role in the market.

Yesterday, the rupee was quoted at Rs 298.40/60 to the US dollar in the spot market, weaker from Rs 298.15/40 to the US dollar Friday, while bond yields were broadly stable, dealers said.

Stocks were down 0.32 percent. A bond maturing on 15.12.2026 was quoted at 9.15/23 percent, down from 9.15/25 percent. A bond maturing on 15.10.2027 was quoted at 9.75/85 percent, up from 9.70/85 percent. A bond maturing on 15.02.2028 was quoted at 10.10/18 percent, down from 10.10/20 percent. A bond maturing on 01.05.2028 was quoted at 10.27/32 percent, up from 10.25/33 percent. A bond maturing on 15.09.2029 was quoted at 10.75/85 percent, up from 10.70/85 percent. A bond maturing on 15.10.2030 was quoted at 11.30/34 percent, down from 11.30/40 percent.



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APHNH aims to make Sri Lanka more competitive for healthcare investment

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Deputy Minister of Health and Mass Media, Dr. Hansaka Wijemuni addresses the audience

Sri Lanka private healthcare leaders recently pledged an action plan with timelines to address the practical priorities of Sri Lanka’s healthcare sector while making it more viable for local and foreign investments.

The Association of Private Hospitals and Nursing Homes (APHNH) has committed to converting recommendations from its first Healthcare Leadership Summit into a trackable outcome document with defined actions, responsibilities, and timelines, marking a shift from discussion to implementation in sector reform efforts.

The summit held on March 9 at Waters Edge, Colombo, brought together hospital leaders, policymakers, regulators, insurers, and international experts to address practical priorities for Sri Lanka’s healthcare sector.

A key outcome of the summit was APHNH’s plan to consolidate recommendations into a single, trackable charter that will outline specific actions, assign responsibilities, establish timelines, and provide periodic progress updates.

“Our objective is to bring the right decision-makers into one room and focus on what can be implemented, not only what can be discussed, ” said Raveen Wickremesinghe, President of APHNH. “We are committed to taking the inputs from today and converting them into a clear, trackable set of actions that strengthens quality, transparency and public confidence, while supporting national health priorities. “

The summit featured insights from Dr. Hafeez Rahman Padiyath, Dr. Hamdani Anver, and Chandana L. Aluthgama on scaling quality and operational discipline. A keynote and fireside discussion with Dr. Paiboon Eksangsri, President of the Private Hospital Association of Thailand, explored lessons from Thailand’s private healthcare development and conditions for making Sri Lanka more competitive for healthcare investment.

By Sanath Nanayakkare

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Atlas SipSavi Naththal Poronduwa records positive public participation, benefiting 10,000 students

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Atlas, Sri Lanka’s No. 1 learning brand, successfully concluded Atlas SipSavi Naththal Poronduwa, a national initiative that saw strong public participation in supporting children at risk of dropping out of school due to financial hardship. At a time when more than 22,000 Sri Lankan children leave school each year due to rising economic challenges, the initiative reinforced Atlas Sipsavi’s long-standing ‘No Child Left Behind’ promise by turning seasonal generosity into meaningful educational support.

The initiative reached 10,000 students, with beneficiary schools carefully selected to ensure support reached those most in need. The collected books were distributed to children at risk of dropping out, including those whose education had been disrupted by recent adverse weather, ensuring students had essential learning resources at the start of the new school term. Through its flagship Atlas SipSavi programme, the brand focused on improving access to education by providing essential learning tools, scholarships, and infrastructure to create better learning environments, bringing its purpose of ‘making learning fun’ to life in a meaningful way. As part of the initiative, the public was invited to donate schoolbooks, with each contribution matched one-for-one by Atlas. Donation boxes were placed at all Keells outlets island-wide and at Sarvodaya District Offices, making it easy for communities to take part.

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John Keells Logistics expands strategic engagement with CWIT through inter-terminal transport operations

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Representing JKLL: Lasitha Manchanayake: CEO, Dilum Liyanage: Snr. Manager - Transport Operations, Kavinda Jayasinghe: Manager - Operations and Randi Peiris: Asst. Manager - Commercial. Representing the John Keells Group: Zafir Hashim: President - Transportation, Plantations and IT Sectors and Asha Perera: CFO. Representing CWIT: Munish Kanwar: CEO, Iresh Siriwardena: COO, Devanshu Bhatia: Head of Techno Commercial, Madhuranga Wijesekara: In Charge - GATE Process, Sandun Niroshan: Duty Manager.

John Keells Logistics (Pvt) Ltd (JKLL), one of Sri Lanka’s leading third-party logistics solutions providers, has successfully expanded its operational engagement with Colombo West International Terminal (Private) Limited (CWIT), through inter-terminal transport services within the Port of Colombo. This enhanced engagement further strengthens CWIT’s efforts to improve operational efficiency, reliability, and scalability across terminal activities.

Inter-terminal transport plays a critical role in modern port operations, requiring high levels of coordination, precision, and operational discipline. JKLL’s appointment for ITT operations reflects CWIT’s confidence in the company’s demonstrated capabilities in managing complex transport operations within a high-throughput port environment.

The ITT operations are underpinned by JKLL’s technology-enabled logistics framework, incorporating real-time fleet tracking, performance monitoring systems, and data-driven operational planning. These capabilities provide enhanced visibility and control over transport movements, while ensuring compliance with established safety, productivity, and service quality standards.

The awarding of this engagement to JKLL is a testament to the successful implementation of the Inter-Terminal Vehicle (ITV) operations undertaken by John Keells Logistics at CWIT during the previous year. The ITV assignment was executed through structured operating procedures and disciplined service delivery, contributing to improved cargo movement, operational coordination, and service continuity within the terminal. The performance outcomes of the ITV operations provided the basis for the subsequent expansion of the partnership into ITT services.

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