GTH buys Rs. 32 b stake in SLT
Single largest transaction in the history of the
Colombo Stock Exchange:
Global Telecommunications Holdings N.V. ("GTH"),
a wholly-owned subsidiary of Usaha Tegas Sdn Bhd ("UT"), a Malaysia
based investment holding company, acquired 635,076,318 shares
representing 35.19% of Sri Lanka Telecom PLC ("SLT" or the
"Company") from NTT Communications Corporation for a purchase
consideration of Rs. 32 billion.
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Sampath Bank records Rs. 1.2 billion profits for 2007
Sampath Bank was able to achieve a satisfactory
growth in all key business volumes, such as total deposits, total
advances and total assets and record a post tax profit of Rs. 1.2
billion for the group, which amounted to a growth of 6 per cent over
the previous year.
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Allianz Insurance Lanka to commence Life business
Allianz Insurance Lanka has forwarded an
application to Insurance Regulator IBSL (Insurance Board of Sri
Lanka) to commence Life insurance business in Sri Lanka. Executive
Vice President of Allianz SE, Munich, for Asia; the Middle East, and
the North Africa Division, Heinz Dollberg, was in Colombo this week,
to present this application.
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