US $ 14 m OZO Hotel comes up in Kandy
Sino Lanka Hotels Holdings and Kandy Hotels will
invest US $ 14 million to build the OZO Hotel in Kandy next to
Suisse Hotel Kandy overlooking the lake. The project is a joint
venture between Sino Lanka Hotels Holdings, headed by Bob Kundanmal
and Kandy Hotels Co. (1938) PLC – owning company of the Queen’s
Hotel and Hotel Suisse, headed by Sanjeev Gardiner.
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‘IFRS vital for finance management’
Tax administrators in the country should
understand the concept ' International Financial Reporting
Standards'( IFRS) and implement them to keep track of changes and be
convergent with the new accounting standard as much as possible for
a better reflection of financial position of a company. Partner KPMG
Sri Lanka, Shamila Jayasekara said making a presentation on 'Tax
issues on adoption of IFRS at the Tax Seminar 2012.
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Sampath Group posts Rs 4.25 b PBT in 1H 2012
Sampath Bank Group which consists of Sampath
Bank and four subsidiary companies, continued with the growth
momentum in the first half 2012, by posting impressive results in
many key areas over the last year’s same period, amidst increasing
interest rates and shifting of funds towards high cost deposits due
to the prevailing market conditions.
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