Investors concern over Colombo Dockyard suspected transfer pricing scam to favour Japanese
Colombo, Sri Lanka (LankaBIZ) Nov 21, 2024 -Colombo Dockyard PLC, a subsidiary of Onomichi Dockyard Company Limited of Japan, continues to face substantial financial challenges, with the group reporting a gross loss of Rs. 421.5 million for the nine months ended 30th September 2024. This alarming performance marks a significant deterioration from the gross loss of Rs.…
Browns Investments PLC (BIL): Net Loss masked by One-off gains from Acquisitions
Colombo, Sri Lanka (LankaBIZ) Nov 20, 2024 – According to official Financial Statement for quarter ended 30th September 2024, released by the Browns Investments PLC (BIL), Net profit for the period soared to Rs. 42.7 billion, a turnaround from the Rs. 1.1 billion loss reported in the prior period. However, this dramatic improvement was predominantly…
Nations Trust Banks PLC becomes the top performer in the Banking Sector in 3Q 2024
Colombo, Sri Lanka (LankaBIZ) Nov 19, 2024 -According to latest comparative analysis of all banking sector companies, Nations Trust Bank PLC has become the top-performing bank for the 9 months ended 30th September 2024 based on its strong profitability, low Price-to-Earnings Ratio, high Return on Equity, excellent Net Interest Margin, and superior credit quality. These…
NDB delivers solid profits amidst gradually reviving economic conditions
Analysis of financial performance Income and Profitability: NDB recorded a net operating income of Rs. 21.5 Bn for the period under review covering the nine months ended 30 September 2024, a 9% increase over the comparative period of 2023 (YoY). The notable reduction in impairment charges by 21% YoY augured well in maintaining the healthy…
Sampath Bank reported a profit before tax (PBT) of Rs 29.9 Bn for the nine-months of 2024
Key financial highlights for the period ended 30th September 2024 Fund based incomeThe Bank reported a total interest income of Rs 139 Bn for the nine-month period, reflecting a 9.6% decline compared to the same period last year, primarily due to a decrease in the AWPLR while interest expense for the period amounted to Rs…
Financial Stability: Prudent Balance Sheet Management results in strong bottom line growth for DFCC Bank
During the period under review, DFCC Bank has continued to record a strong financial performance, reflecting the entity’s growth and stability amid the ongoing economic recovery. Market lending interest rates continued to decline in line with the current accommodative monetary policy stance, with the expectation that credit expansion to the private sector is expected to…
ComBank accelerates lending in Q3 as strong fundamentals spur growth
The Commercial Bank of Ceylon Group has achieved impressive growth at the end of the third quarter of 2024 by banking on judicious portfolio management and continued improvement of its CASA ratio to counteract the impacts of reduced interest income in prevailing market conditions. Comprising of Sri Lanka’s biggest private sector bank, its subsidiaries and…
HNB Group recorded a PAT of Rs 23.7 Bn growing by 26% YoY
HNB Group recorded a PAT of Rs 23.7 Bn growing by 26% YoY, while the Bank’s Profit After Tax increased by 34% YoY to Rs 22.2 Bn for the nine months ended September 2024. Decline in AWPLR by nearly 50% compared to last year and remaining at an average level of 10% for the first 9 months…
‘Buy the Rumour, Sell the News’
Given the alignment of political reality with the “Buy the Rumour, Sell the News” strategy, the current market high represents an opportune time to exit positions. The rally fueled by speculative optimism is unlikely to sustain in the absence of immediate economic improvement. Investors should consider taking profits now, before the market undergoes a potential…
First Capital Holdings PLC – Early end to Christmas
Colombo, November 13 (LankaBIZ) – First Capital Holdings PLC leading investment bank in Sri Lanka reported a stark decline in overall financial performance for the six months ended 30th September 2024 bringing an early end to share price rise during Christmas season. The Group’s total comprehensive income dropped sharply to Rs. 904 million, a significant…
Sri Lanka General Elections: Hung Parliament?
Colombo, Sri Lanka (LankaBIZ) Nov 10, 2024. National People’s Power (NPP) that won the Presidential elections of Sri Lanka in September 2024 and elected Anura Kumara Dissanayake as the President of Sri Lanka is likely to face tough challenges to secure simple majority in the next parliament. As a result of the dissolution of the…
How would Donald Trump Presidency impact Future Sri Lanka?
Donald Trump has won the 2024 U.S. presidency, here’s how his administration could directly impact Sri Lanka’s geopolitical landscape, economic stability, and diplomatic relations over the coming years: 1. Geopolitical Tensions and China Relations 2. Economic and Trade Policy Shifts 3. Reduction in U.S. Foreign Aid and Development Programs 4. Shifts in Human Rights and Democratic Reforms 5. Stronger U.S.-India…
Why Government should Extend the Suspension of Parate Action by Commercial Banks?
The recent Recovery of Loans by Banks (Special Provisions) (Amendment) Act, No. 26 of 2024 temporarily suspended the authority of banks to foreclose on collateral through public auction for defaulted loans until December 15, 2024 . This suspension aims to provide relief to small and medium-sized industries (SMEs), especially in economically fragile sectors like tourism,…
John Keells Holdings PLC share Price is likely to fall after Capital Restructure
Share Price of John Keells Holding PLC (JKH.N000) after the proposed Rights Issue and Subdivision of Shares expected to be around LKR 17/= per share according theoretical (Ex Rights. Ex Sub-division) calculation. Download the full report. Download Report: https://lankabizz.net/product/john-keells-holdings-plc-undefined-future/ Current Market Status (as of August 1, 2024):John Keells Holdings PLC (JKH) is a leading player in…
Sri Lanka external sector demonstrated mixed performance as of September 2024
Colombo, Nov 04 (LankaBIZ) – The external sector of Sri Lanka demonstrated mixed performance as of September 2024, reflecting resilience amid global economic pressures. Trade Balance Sri Lanka’s trade deficit expanded significantly in September 2024, rising to USD 634 million compared to USD 377 million in September 2023. This increase reflects a 22% year-over-year (y-o-y)…
Seylan Bank PLC reports 10.7% reduction in Net Interest Income (NII) for 9 months ended 30th September 2024
Colombo, Oct 31 (LankaBIZ) -The reduction in impairment charges by such a huge amount seems to be somewhat questionable. This move by the bank could be viewed as an attempt to offset the decline in interest income, possibly using impairment adjustments to present an improved financial picture. Financial Highlights Download Full Research Report
Banking Sector Profitability at what cost?
Banks have a critical role to play in Sri Lanka’s economic recovery, not only by securing their own financial positions but by fostering conditions for business growth. High interest rates and aggressive foreclosures do little but suppress growth, while more inclusive and flexible financial support will create sustainable profitability across industries. A responsible banking sector…
Listed companies with lowest PEG Ratios
The price/earnings-to-growth, or PEG ratio is a valuation metric used for stocks. PEG builds on the P/E ratio by considering expected earnings growth and not just current earnings. A PEG ratio of under 1.0 can indicate a stock is undervalued and a potential buy. A PEG above 1.0 can indicate an overvalued stock. List of Sri…
Why Sri Lanka Should Continue the Ban on Vehicle Imports?
Maintaining the vehicle import ban offers a crucial buffer to ensure foreign reserves are preserved, the trade deficit remains in check, and economic recovery efforts are sustainable over the long term. IMPORT RESTRICTIONThe import ban on vehicles has been in place since 2020, a decision rolled out by the government to prevent the island nation…
Qualified Audit Opinion? What’s Next?
What is Qualified Audit Opinion: A qualified opinion is issued when the auditor has identified material misstatements in the financial statements, but these misstatements are not pervasive. In simpler words, the financial statements are still largely reliable despite the identified issues. If a company listed on the Colombo Stock Exchange (CSE) main board receives a qualified…
Why Sri Lanka Fuel Price Formula should be discontinued?
Sri Lanka’s Fuel Price Formula was introduced in May 2018 as part of a government initiative to reduce the fiscal burden on the economy caused by fuel subsidies. The idea was to adopt a market-based fuel pricing mechanism that would adjust retail fuel prices in line with international oil prices. The formula aimed to depoliticize…
Why Sri Lankan Airlines should not be Privatised?
1. National Security and Connectivity 2. Economic Stability and Tourism Development 3. Control Over Pricing and Service Quality 4. Preservation of National Identity and Branding 5. Long-term Strategic Investments and Market Cycles 6. Job Security and Labor Relations 7. Economic Nationalism and Political Resistance 8. Potential for Strategic Partnerships without Full Privatization 9. Access to…
Sri Lanka: Light Rail Transport (LRT) at what opportunity cost?
Japanese funded Light Rail Transport (LRT) from Colombo to Malabe (15km) Cost US$ 1.9bn compared to recently approved IMF facility of US$2.9bn. LRT cost is equivalent to almost 3 Southern expressways. Instead just serving minor section of the community, Government of Sri Lanka should utilise funds to expands current road network covering entire Sri Lanka by connecting…
Sri Lanka Parliament Dissolved
The Extraordinary Gazette notification issued by President Anura Kumara Dissanayake dissolving the Parliament of Sri Lanka effective from midnight today (24), has been published by the Department of Government Printing. The proclamation dissolves Parliament with effect from midnight today and summons the new Parliament to meet on the November 21, 2024. It has also fixed…
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