Lion goes for entire Rs. 2 b in debenture issue; offer draws Rs. 2.6 b demand

Published : 12:00 am  December 8, 2014  |  Category: Business  |  Leave a Comment  |  221 views  |  

Lion Brewery (Ceylon) Plc is exercising the option on the recently-oversubscribed debenture issue worth Rs. 2 billion. The offer was 10 million rated, unsecured, redeemable debentures of Rs. 100 each with an option to increase it by a further 10 million debentures. Rated “AA-” by Fitch Ratings debentures offered a fixed rate offering 7.85% interest rate per annum payable semi annually whilst the annual effective rate is 8% per annum. The issue drew 22 applications requesting for Rs. 2.6 billion worth of debentures. Payment made by cheques and RTGS amounted 19 worth Rs. 1.3 billion whilst there were three applications worth Rs. 1.3 billion with payment made by bank guarantees. The basis of... 


President Chief Guest at CA Sri Lanka Annual Report Awards Golden Jubilee

Published : 12:00 am  December 8, 2014  |  Category: Business  |  Leave a Comment  |  256 views  |  

President Mahinda Rajapaksa will grace the golden jubilee of the prestigious Annual Report Awards Competition as the Chief Guest on Tuesday, 9 December at the Nelum Pokuna. Minister of Co-Operatives and Internal Trade Johnston Fernando will be the Guest of Honour. The competition organised by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) has set a remarkable benchmark in helping promote transparency, accountability and good governance among organisations that produces an annual report in Sri Lanka. This year, the competition set a new record after it recorded the highest number of registrations during its half a century long existence, with a total of 130 organisations including... 


‘Import-Export Trade of Sri Lanka’ – A review

Published : 12:00 am  December 8, 2014  |  Category: Business  |  Leave a Comment  |  103 views  |  

The publication entitled ‘Import-Export Trade of Sri Lanka’ is the third volume of the ‘Customs Law Manual of Sri Lanka’, published in 2009 by P. Weerasekera and T. Kananathaligam who were at the helm of Sri Lanka Customs sometime back. The present volume, in addition to being an update of the first two volumes, carries much new material which would be invaluable for all stakeholders in the field of foreign trade which include banks and professionals in tax and licence control, etc. While the first two volumes focused more on customs law and procedures, this volume covers areas such as import licensing and procedures, quality control measures, BIO regulations, standardisation and commercial... 


International Chamber of Commerce says TFA breakthrough a victory for global economy

Published : 12:00 am  December 8, 2014  |  Category: Business  |  Leave a Comment  |  91 views  |  

The International Chamber of Commerce has described the recent breakthrough of Trade Facilitation Agreement (TFA) as a victory for the global economy. The World Trade Organization (WTO) members recently secured a deal that paves the way for implementing the Trade Facilitation Agreement, the first global multilateral trade deal to be sealed in the history of the WTO. “Adoption of this landmark agreement is a triumph not only for businesses worldwide but also for the global economy, given its potential to considerably reduce transaction times and costs in both emerging and developed economies. Along with other elements of the Bali package, the deal has a huge potential to boost growth by injecting... 


Destiny Mall & Residency II now open for pre-construction bookings

Published : 12:00 am  December 8, 2014  |  Category: Business  |  Leave a Comment  |  63 views  |  

Following the successful sales of Destiny Mall & Residency, Imperial Builders is introducing the latest development in the offering consisting of 194 luxury two, three and four bedroom apartments and a three-storey retail mall. Located alongside the Destiny Mall & Residency on Justice Akbar Mawatha, this tower offers equal luxuries, conveniences and ocean views. The Destiny Mall & Residency II consist of 44 floors on a 130 perch property and is uniquely positioned in the CBD; it is just minutes’ walking distance from the Galle Face Green, all Colombo based 5-star hotels, hospitals, schools and commercial complexes. The two bedroom apartments have a spacious area of 1,168 to 1,319... 


Slovak Republic in biggest push in Sri Lanka, leveraging historic FTAs

Published : 12:04 am  December 6, 2014  |  Category: Business  |  Leave a Comment  |  273 views  |  

 Welcome to partner SA’s hub: Rishad  Renewing trade with Lanka: Slovakia’s Burian   YoY trade rises by 29% Also partnering in wheat, energy industries Minister of Industry and Commerce Rishad Bathiudeen (right) in discussion with the Slovak delegation led by Slovak Republic Ministry of Foreign and European Affairs State Secretary Peter Burian (second from right) on 27 November in Colombo The Slovak Republic, the V4 industrial economy billed as the ‘Tetra Tiger’ due to its high growth, has revealed for the first time that it wants to synergise Lanka’s historic FTAs to enter South Asia, as informed on 27 November. It is also readying for new bilateral efforts of high capacity... 


M.D. Gunasena appoints Colleen distributor network in Sri Lanka

Published : 12:03 am  December 6, 2014  |  Category: Business  |  Leave a Comment  |  224 views  |  

M.D. Gunasena, the leading publisher, printer and bookseller, officially announced the launch of a distributor program for Colleen Pencil Thailand Ltd. Top row: Samudra Bookshop Borella Branch Manager Dilip Prasanna (left) and Rathna Book Publishers Maradana Manager Kamal Senanayake (right) accepting the distributorship from M.D. Gunasena and Co. Deputy Managing Director Rajiv Gunasena. Bottom row: The first customer Sampath Amarawikrama (left) purchases a Colleen colour product from Samudra Bookshop Borella Branch Manager Dilip Prasanna and first customer Sadun Ekanayake and his family purchase a Colleen colour product from Rathna Book Publishers Maradana Manager Kamal Senanayake   The... 


Free Bangkok tour for FAW customers from Sterling Automobiles Lanka

Published : 12:02 am  December 6, 2014  |  Category: Business  |  Leave a Comment  |  232 views  |  

Sterling Automobiles Lanka Ltd., Sole Agents for First Automobiles Works (FAW) China, recently paid its gratitude towards the proud buyers of FAW light commercial vehicles by taking them on an all-expenses-paid tour of Bangkok. This first group returned to the island last week after experiencing the best of Thailand. From left: Ajith Kumarasiri (Thalathuoya), Kaanthi Herath (Kandy), Saman Kumara Ranasinghe (Okkampitiya), Vipula Reginold Jayawardana (Horana), Sujeewa Rukman (Weliweriya), Aruna Kanchana Perera (Rajagiriya), Kingsley Selvakumar (Meda Welikada), Kelum Chinthaka Kumara (Kalutara), Upali Nandalal (Digana) and Tyrone Roshan (Kalutara South) Earlier this year for the benefit of small... 


Asian Paints offers kids a chance to ‘go back to school in style’

Published : 12:01 am  December 6, 2014  |  Category: Business  |  Leave a Comment  |  222 views  |  

Thousands of children can start the new school year with a must-have accessory – a school bag autographed by Sri Lanka’s cricketing icon Kumar Sangakkara, thanks to an exciting promotion launched by Asian Paints, one of the top five decorative paints companies in the world. Commencing 1 December, every purchase of a 10 or 20 litre pack of designated brands of Asian Paints products will entitle the buyer to one of these colourful and stylish bags and six school books with a purchase of every four-litre pack of the same brands till stocks last, the company announced. The designated brands are Asian Paints Royale, Classique, APEX Ultima and APEX but purchases of selected shades of Asian Paints... 


Alpha to launch ‘Swap and Save Promotion’ for second consecutive year

Published : 12:01 am  December 6, 2014  |  Category: Business  |  Leave a Comment  |  220 views  |  

Alpha Industries, one of the leading furniture manufacturers in Sri Lanka, is bringing back the ‘Alpha Swap and Save’ promotion, giving their valued customers the opportunity to upgrade their homes with brand new furniture. The ‘Alpha Swap and Save’ promotion encourages existing Alpha customers to bring in any type of furniture in any condition and be entitled to discounts up to 20% when purchasing brand new items of Alpha home furniture. The promotion will be valid till 31 December and will be held in all 13 Alpha showrooms islandwide. Free delivery and installation will also be provided in any part of the country. The showrooms are spread across the cities of Battaramulla, Maharagama,... 


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