Wednesday, March 5, 2014

Gates reclaims top of Forbes billionaire list from Mexican mogul

  • Roughly two-thirds of the world’s billionaires, or 1,080, were self-made
REUTERS: Bill Gates has returned to the top of Forbes magazine’s annual list of the world’s richest people, as rising stock markets swelled the ranks of billionaires, which included a record number of women.
With a net worth of $76 billion, the Micr-osoft Corp co-founder reclaimed the top spot after a four-year hiatus, toppling Mexico’s telecommunications mogul Carlos Slim Helu, who placed second at $72 billion, Forbes said in announcing the list on Monday.
Amancio Ortega, the Spanish founder of clothing conglomerate Inditex SA, which includes the Zara fashion chain, ranked third at $64 billion.
Investing icon Warren Buffett, who runs Berkshire Hathaway Inc and is a frequent bridge partner for Gates, was fourth at $58.2 billion. Oracle Corp chief Larry Ellison came in fifth at $48 billion.
Gates has topped the list in 15 of the last 20 years.
A record 1,645 billionaires with a total net worth of $6.4 trillion made Forbes’ list, up from 1,426 last year.

AMAYA LEISURE, NAMUNUKULA PLANTATIONS, KEGALLE PLANTATIONS, TANGERINE, ROYAL PALMS, PROPERTY DEVELOPMENT - DIVIDEND ANNOUNCEMENTS



AMAYA LEISURE PLC
Company ID: - CONN
Date of Announcement: - 05.Mar.2014
Dividend per Share: - Rs. 4.50 per share (Not liable to 10% dividend tax) / Interim Dividend
Financial Year: - 2013/2014
XD: - 14.Mar.2014
Payment: - 24.Mar.2014
Share Transfer Book Open

NAMUNUKULA PLANTATIONS PLC
Company ID: - NAMU
Date of Announcement: - 05.Mar.2014
Dividend per Share: - Rs. 1.50 per share / Second Interim Dividend
Financial Year: - 2013/2014
XD: - 14.Mar.2014
Payment: - 21.Mar.2014
Share Transfer Book Open

NFC technology now in Badulla

  • Airtel, HNB and Smart Metro together with Sony FeliCa partner the second phase of the project
  • Transportation in the capital city of  Uva Province – Badulla to be the second NFC enabled region
  • 150 long distance, 1,200 interprovincial and provincial buses to be NFC enabled
Hatton National Bank the premier private sector commercial bank which was named the Bank of the Year in Sri Lanka in 2012 and 2013 along with Bharti Airtel, a leading global telecommunications company with operations in 20 countries across Asia and Africa, Smart Metro, an international software application development company specialising in NFC technology and the sole promoter of Sony FeliCa in Sri Lanka the market leader in the NFC industry and the Badulla Bus Association commercially launched the second phase of the NFC (Near Field Communication) enabled multi-functioned payment system in the Badulla region.
This payment system will be available for customers residing or travelling through the region on ‘HNB One Card’, the pioneering NFC enabled payment card launched in December 2013. With the provision of the e-bus ticketing facility, HNB becomes the first bank to deploy such a service commercially in Sri Lanka.
Commenting at the official event, Mangala Wickramasinghe, Head of Payment Cards & Electronic Delivery Channels at HNB stated: “Having launched this system in Matara we currently have a huge demand for it. This is not only because of its technological sophistication but because it is backed by a solid business model which focuses on commuters and bus owners as well as bus conductors and drivers. We have improved the system based on requests from Badulla Transport & Agency Co. and one significant improvement is that it now caters to EPF/ETF management of drivers and conductors.”

Tuesday, March 4, 2014

Sri Lanka Telecom 'AAA(lk)' local rating may be hurt by acquisition: Fitch

Mar 04, 2014 (LBO) - Fitch Ratings said it was confirming 'AAA(lka)' domestic and 'BB' international ratings of Sri Lanka Telecom, but the local rating could be downgraded if a debt funded acquisition goes through.
Sri Lanka Telecom is in talks to acquire Hutchison Telecommunications Lanka (Pvt) Ltd, which has 800,000 subscribers. Fitch said leverage could increase to over 1.5 times if the acquisition is funded by debt, and operating cash margins would also narrow because of losses at Hutch.
But SLT will gain spectrum and save on future capital expenditure.

Samsung GALAXY S5 - Official Introduction



Published on Mar 4, 2014 Focusing on capabilities that matter the most to users, the new Samsung GALAXY S5 offers a refined experience while innovating essential, day-to-day features. Featuring a perforated pattern on the back cover and an array of vivid colors (shimmery White, charcoal Black, copper Gold and electric Blue), the GALAXY S5's modern glam design complements your individual style, while the 5.1-inch Full HD Super AMOLED screen with a slim bezel and Adaptive Display provides a superior viewing experience.

Monday, March 3, 2014

COMMERCIAL BANK OF CEYLON - CASH & SCRIP DIVIDEND



CASH DIVIDEND

COMMERCIAL BANK OF CEYLON PLC
Company ID: - COMB
Date of Initial Announcement: - 25.Feb.2014
Dividend per Share: - Rs. 2.00 per share (Voting & Non-Voting) / Final Dividend
Financial Year: - 2013
Shareholder Approval: - Required
AGM: - 31.Mar.2014
XD: - 01.Apr.2014
Payment: - 09.Apr.2014
Share Transfer Book Open

SCRIP DIVIDEND

COMMERCIAL BANK OF CEYLON PLC
Company ID: - COMB
Date of Initial Announcement: - 25.Feb.2014
Proportion: - Voting - One (01) new share for every 63.611111 shares held
Non-Voting - One (01) new share for every 52.611111 shares held
Qty Offered: - Voting - 12,493,722
Non-Voting - 1,036,724
Financial Year: - 2013
Shareholder Approval: - Required
AGM: - 31.Mar.2014
XD: - 01.Apr.2014
Share Transfer Book Open

REGNIS (LANKA), SINGER SRI LANKA, SINGER INDUSTRIES, HDFC BANK, CEYLINCO INSURANCE - DIVIDEND ANNOUNCEMENTS

REGNIS (LANKA) PLC
Company ID: - REG
Date of Announcement: - 28.Feb.2014
Dividend per Share: - Rs. 2.00 per share / Final Dividend
Financial Year: - 2013
XD: - 11.Mar.2014
Payment: - 20.Mar.2014
Share Transfer Book Open

SINGER SRI LANKA PLC
Company ID: - SINS
Date of Announcement: - 28.Feb.2014
Dividend per Share: - Rs. 2.50 per share / Final Dividend
Financial Year: - 2013
XD: - 11.Mar.2014
Payment: - 20.Mar.2014
Share Transfer Book Open

Janashakthi offers complete life protection with Life Unlimited

A comprehensive life insurance policy by Janashakthi Insurance allows for lifetime hospitalisation, natural death and accidents coverage with only a 20 year premium.
The 20 year Life Unlimited Policy combines a package of benefits to the policyholders and allows protection for a number of unforeseen events, providing security and protection to policyholders.
“Life can be fragile. Accidents can happen at any moment and that’s why it is so important to be protected,” explained Janashakthi Insurance General Manager – Sales and Marketing Shehara de Silva.

Overseas Realty records profit of Rs. 2.6 b

Overseas Realty (Ceylon) PLC recorded steady growth and registered its highest group net profit after tax (excluding fair value gains) of Rs. 1,711 m – an increase of 89% over the previous year.
Group revenue grew by 149% to Rs. 4,857 m and group net profit after tax including fair value gains grew by 7% to Rs. 2,641 m. This was achieved in spite of a reduction in fair value gains on investment property from Rs. 1,563 m in 2012 to Rs. 930 m in 2013.
The WTC is situated in a pre-eminent location in the business capital of Colombo. The company continues to provide excellent facilities and services to the occupants of this business complex, which supported the increase in the average occupancy to 98% during the financial year under review. Together with the increase in the average rental rates by around 19% the company was able to record significant earnings growth during 2013.

MBSL announces merger plans

The Merchant Bank of Sri Lanka (MBSL) yesterday announced that pursuant to the master plan of the Central Bank of Sri Lanka (CBSL) on consolidation of the financial sector, MBSL Savings Bank Ltd. (MSB) is now required by the CBSL to merge with Merchant Bank of Sri Lanka (MBSL) and MCSL Financial Services Ltd. (MCSL) and to operate as a licensed finance company.

Sampath Group records Rs. 4.79 b pre-tax profit for 2013, despite challenges

Sampath Bank Group has recorded a profit before tax of Rs. 4.79 b for year ended 31 December 2013 with the bank recording a profit before tax of Rs. 4.5 b.
The post-tax profit of the Group and the bank for the same period amounted to Rs. 3.64 b and Rs. 3.43 b respectively.
Sampath said 2013 another challenging year, with a moderate growth due to many challenges posed by the external market forces, which included excess liquidity, lower credit demand and worldwide decrease in gold prices, etc.
The Bank achieved strong growth recorded in key core banking income areas such as net interest income and commission income.However profit growth was adversely affected  due to several reasons.
Bottom line was impacted by high FX revaluation gains in 2012 and significant impairment provisioning made against pawning advances in 2013, consequent to the drop in gold prices.
The Group comprises Sampath Bank Plc and four subsidiaries providing diverse financial services. The bank is the main entity of the group contributing 94% to the Group’s pre-tax profit and Sri Lanka’s third largest non-government bank, with an asset base of Rs. 382 b and a network of 212 branches throughout the country.

Sri Lanka bourse beckons IT firms

Mar 03, 2013 (LBO) - Sri Lanka's stock exchange, the regulator and the island's information technology industry chamber is holding a seminar to draw IT and outsourcing firms to the capital markets.
A business forum will be held March 05, at the Dialog Future World Auditorium, from 08.30 am to 11.00 am the Colombo Stock Exchange and ri Lanka Association of Software and Service Companies (SLASSCOM) said.

Sunday, March 2, 2014

I am not afraid of an army of lions led by a sheep

I am not afraid of an army of lions led by a sheep; I am afraid of an army of sheep led by a lion.

Alexander the Great


Saturday, March 1, 2014

Mahinda Rajapaksa, Singh to meet before D-day

New Delhi: India’s Prime Min-ister Manmohan Singh will meet Sri Lankan Presid-ent Mahinda Rajapaksa on the sidelines of the BIMSTEC Summit in Myanmar early next month.
India’s Foreign Secretary Sujatha Singh said at a media briefing the Prime Minister will attend the 3rd BIMSTEC Summit on 4th March and the he will hold talks with Sri Lankan President on the sidelines of the Summit next week.
The Indian Premier will be meeting the Sri Lankan leader for the first time after skipping last year’s Commonwealth Heads of Gov-ernment Meeting held in Colombo in November after bowing to the pressure from the Tamil Nadu political leaders.
Prime Minister Manmohan Singh leaves for Mya-nmar on Monday to attend the BIMSTEC Summit.

The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Coop-eration (BIMSTEC) is an international organization involving Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal. The seven-country forum aims to achieve its own free trade area by 2017.
Responding to a media query on how India will vote on the third US-sponsored Resolution at the UN Human Rights Council calling for an international inquiry into Sri Lanka’s war crime allegations, the Foreign Secretary said it is a “very complex process” and they have to wait and see how the resolution is drawn up.
“We have to see the text of the resolution, we have to take several other factors into account and then will finally vote,” the Foreign Secretary said.
India has voted against Sri Lanka on the two previous resolutions tabled by the US and adopted by the UNHRC in Geneva in 2011 and 2012.
As regional elections are approaching this year, the central government of India is under extreme pressure from the Tami Nadu political leadership to vote for the third resolution against Sri Lanka within two years and it is highly unlikely for India to support Sri Lanka at the UN.
Sri Lanka has consistently rejected an international investigation into the war crime allegations and human rights violations as an intrusion into the country’s sovereign affairs.
On Monday, the UN High Commissioner for Human Rights Navy Pillay releasing her report on Sri Lanka called for establishing an “independent, international inquiry mechanism” as the government has failed to ensure independent and credible investigations into past violations of international human rights and humanitarian law.
The government categorically rejected the call saying that conclusions and recommendations contained in her report reflect bias and are tantamount to unwanted interference in the internal affairs of a sovereign State.
The government has launched a diplomatic operation aiming to counter the international pressure that is being exerted on the country ahead of the UNHRC session.
Russia and China have declared their strong support to Sri Lanka against the US-sponsored resolution and opposed an international investigation into the allegations of war crimes committed during the war saying human rights should not be used as a pretext for interference in internal affairs.

First segment of outer circular highway opening on 8 March

The first segment of the Outer Circular Highway (OCH) around Colombo from Kottawa to Kaduwela will be declared open on 8 March.
The public will be able to travel on the expressway from Kaduwela to Galle bypassing the congested city traffic in Colombo once the OCH segment opened as the OCH is connected to the Southern Expressway at Kottawa.
The 11-km long Kottawa-Kaduwela segment of the OCH is located in the Colombo Metropolitan Region and passes through Colombo and Gampaha Districts.
The OCH runs around 20 km away from the city centre of Colombo, connecting radial routes and has a total length of 29.2 km.