Daily News Online

Tuesday, 21 June 2011


With Rs 20 b in deposits, Rs 25 billion in assets and 60 branches:

The Finance mulls banking

Eleven apartments in Trillium acquired in lieu of Rs 300 m loan :

The Finance Co PLC will shortly enter the banking arena following the successful restructuring of the debt-ridden company, which began in February. “We have successfully restructured the company and we will be getting into the banking arena with Rs 20 billion in deposits, Rs 25 billion in assets and 60 branches and with the support of the Central Bank of Sri Lanka, The Finance Company Chairman Preethi Jayawardena told Daily News Business yesterday.

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ADB credit of US$ 120 m for sustainable power development

The Asian Development Bank (ADB) has agreed to provide financial assistance of US$ 120 million for the implementation of sustainable power sector support project in Sri Lanka in line with the government’s target of providing electricity to all households by end of 2012.

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Vallibel One for more acquisitions

Rs 532 million IPO opens today :

Vallibel One will continue with acquisitions and will add value to the company even after it goes public today. “We have already added value to the company with the acquisition of the Delmege Forsyth Group even prior to the company going public,” Vallibel One Director Nimal Perera told Daily News Business yesterday.

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Finance and Planning Ministry Secretary Dr P.B. Jayasundera signed on behalf of the government and on behalf of ADB, Portfolio Management Unit Head Candice Medeigan signed two loan agreements at the Finance and Planning Ministry yesterday.

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