Cinnamon Air takes wing from Mar. 15
Invests nearly Rs. one billion:
Cinnamon Air, a joint venture involving MMBL
Leisure Holdings (Pvt) Limited, John Keells Holdings (JKH) and
Phoenix Ventures Limited, would take wing from March 15. Saffron
Aviation (Pvt) Ltd., will manage Cinnamon Air. The management has
invested nearly Rs. one billion and would initially operate with two
eight seater amphibious aircraft.
Commercial Credit’s Debenture Issue opens today
Commercial Credit and Finance PLC’s much-awaited
issue of 2.5 million five-year Debentures of Rs. 100 each opens on
January 23, 2013 with an option to issue a further 2.5 million
Debentures in the event of an over subscription amounting to a total
value of Rs 500 million. The minimum subscription is Rs. 10,000 or
Fitch affirms Vallibel Finance at BB- (lka)
Fitch Ratings Lanka has revised Vallibel Finance
Plc's (VFL) Outlook to Negative from Stable. At the same time, the
agency has affirmed VFL's National Long-Term rating at ‘BB-(lka)'.
‘Four more Industrial Zones for North’
In a new initiative to draw international
investors to the surging Northern Province, four more new industrial
zones are mulled by the Ministry of Industry and Commerce.