Tea export awareness

The National Chamber of Exporters of Sri Lanka (NCE) in collaboration with the Sri Lanka Tea Board (SLTB) will conduct an awareness programme on Friday, October 24, from 3.00 to 6.30 p.m. at the Auditorium of the Sri Lanka Tea Board, No. 574, Galle Road, Colombo 3.

Sampath writes to SEC

We refer to the previous announcement that was made on behalf of Sampath Bank PLC on the above subject dated September 19, 2008.

The Board of Sampath Bank PLC wishes to inform the public that the International Finance Corporation (IFC) has now informed that it will require further time to finalise its decision to participate in the equity of the bank and hence it will not participate in the Private Placement or Rights Issue within the time frames as announced earlier.

However the IFC will continue to have close relations with the bank and provide technical know-how to the bank.

Accordingly the Private Placement announced previously will not take place, Company Secretary Sampath Bank said in an announcement yesterday.

Market sentiment low

International market sentiments continued to weigh down the Colombo Stock Exchange with the ASPI long another 8 points to close at 2,231, while the MPI ended flat at 2,512. Large caps Dialog, John Keells Holdings and Distilleries saw a buying interest which prevented the market from recording massive losses.

Turnover for the day was Rs 101 million.

In international markets, Asian markets started in the red but Japan, Taiwan and South Korea recovered to post gains, while the Indian Singaporean and Malaysian markets were down with the BSE Sensex and Straits Time Index both losing 3%, and KLSE down about half a percentage point.

Source: First Guardian Equities