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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.
 Full Story
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.
Full Story
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