BusinessStock market gains from 3-month low
Reuters: The stock market edged up on Monday from a three-month low as investors picked up select battered large cap shares, but the volume of trade was down sharply on a suspected insider deal and uncertainties over the rupee and interest rates.
HNB Group continues to record strong growth with 1Q pre-tax profit of Rs. 2.29 b
HNB continued to post robust results in Q1 of 2012, driven by expansion in core banking operations amidst challenging business environment with rising interest rates and depreciation of the rupee. HNB’s pre-tax profits grew by 25% to Rs. 2.1 b while the group pre-tax profit also increased by 25% to Rs. 2.29 b.
COMBank’s 1Q pre-tax profit up 40% to Rs 4.145 b
Growth in interest income on loans and advances, complemented by gains in foreign exchange income continued to underpin financial performance at Commercial Bank of Ceylon PLC, enabling the country’s benchmark private bank to post strong results for the first quarter of 2012.
The bank has reported profit before tax of Rs. 4.145 billion for the three months ended 31 March 2012, an increase of 40 per cent over 1Q 2011 while profit after tax for the three months grew 38 per cent to Rs. 2.843 billion.
Sampath Group continues with growth momentum in 1Q
Records 50.6% post-tax profit growth
Sampath Bank Group
The Group, which consists of Sampath Bank and four subsidiary companies, continued with the growth momentum in the first quarter of 2012, by posting impressive results in many key areas over the last year same period.
Improved 2011-12 operating results by Dipped Products
Posts PBT of Rs. 2.38 billion; Revenue up 33% to Rs. 19.8 billion
Strong operational performances from hand protection combined with capital gains and better contributions from plantations have generated healthy revenue and profit growth for Dipped Products PLC (DPL) in the year ending 31 March 2012.
CA Sri Lanka launches INSEAD’s flagship Global Strategic Management Program
The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) in its continuing endeavour to keep the country’s corporate leaders and ambitious professionals abreast of evolving global changes, has once again partnered with one of the world’s leading graduate business schools to bring to Sri Lanka the renowned Global Strategic Management Program.
Design Group 5’s architecture wins top Asia Pacific Property awards
The Design Group Five International (Pvt) Ltd (DG5i) was a double winner at the Asia Pacific Property Awards 2012 held recently in Kuala Lumpur, Malaysia for their innovative and creative design of the People’s Leasing Plc Headquarters building in Maradana Road, Borella. The Awards, held annually, recognises superior architectural and interior designing across the Asia Pacific region.
Arogya 2012 to promote local health sector
With open economic policies, the health sector in Sri Lanka has shown a significant development during the last few years. With the increasing population, which has now reached 20.8 million, there was a dire need for the country to improve her healthcare facilities and this requirement is now being fulfilled by both public and private sectors. Sri Lanka presently has a number of modernised hospitals owned by the state and the private sector.
Patients from neighbouring countries such as Maldives use these facilities making Colombo an important healthcare centre. The country has also been able to retain many patients who earlier sought medical treatment overseas with the health sector development in the recent past.
Sri Lanka showcased to over 500 biz in LA
The Los Angeles investment and biz community received a rare sprinkle of free Pure Ceylon Tea and cinnamon on 4 May. The free Sri Lankan gifts were part of promotional efforts at the Annual World Trade Week in LA held on 4 May.
Atchchuvely a public-private model in Jaffna!
The 65 acre Atchchuvely Industrial Estate project that is currently being developed in Jaffna can be a land mark project due to the combination of strong political leadership and strong support from the private sector in the Jaffna Peninsular said the Head of National Portfolio Development – Sri Lanka and Maldives of the United Nations Office For Project Services (UNOPS) Rohantha Athukorala at the Institute of Project Management – Sri Lanka Chapter Regional Conference at Cinnamon Lake.
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