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NEWS – December 12, 2018
Colombo Port to touch 7mn TEU landmark for 2018 (Daily News)
The Sri Lanka Ports Authority (SLPA) indicated that the Colombo Port is on the brink of the 7mn TEU container throughput landmark for 2018E. Further, the SLPA Chairman Dr.Parakrama Dissanayake has stated that one of the world’s largest shipping lines accounting for ~20% of the business of the Colombo Port, had assured the Government that they would increase the volumes to Colombo on a year on year basis.
President softens stance on banning state events at private hotels (Daily Mirror)
President Maithripala Sirisena has softened his decision to ban state entities holding official ceremonies and meetings at private hotels, which was announced by the President’s Media Division (PMD) last week. The state institutions had received an earlier circular issued by the Presidential Secretariat on September 25, 2015, requesting the ministry secretaries to issue instructions to all state institutions coming under their respective ministries to ensure that all state functions are held at a lower cost.
Sanken to build a 185-room luxury hotel in Galle with Rs.6bn investment (Daily Mirror)
Sri Lanka’s Sanken group has indicated plans to build a 185-room luxury hotel with an investment of Rs.6bn in Galle next year, which will be managed by a top Sri Lankan hotel chain. The Sanken group has a 51% equity share of the project while other investors, including a Singaporean investor, hold the rest of the equity in the project. The group is also expected to enter into a management agreement shortly with a leading hotel chain in Sri Lanka.
The Colombo Stock Exchange (CSE) announced that East West Properties (EAST) and Anilana Hotels and Properties (ALHP) have been transferred out of the CSE watchlist w.e.f 11 December 2018 and 10 December 2018 respectively, due to the submission of Annual Report for the year ended 31 March 2018.
It was announced that the voluntary offer made by Janashakthi to purchase ordinary shares of Dunamis Capital (CSEC) has expired w.e.f 4.30pm on 10 December 2018, and that it had received acceptances of the offer for 70.0mn ordinary shares. Accordingly, at the completion of the voluntary offer, Janashakhi holds 120.6mn ordinary shares in CSEC constituting a 98.1% stake.
MTD Walkers (KAPI) disclosed that it was not in compliance with the Corporate Governance Requirements set out by the listing rules of the Main Board of the CSE, with regard to the minimum number of directors.
Corporate Announcements (related to Minimum Public Float requirements):
MTD Walkers (KAPI), Lotus Hydro Power (HPFL), John Keells Hotels (KHL), Ceylon Printers (CPRT), Paragon (PARA) and Office Equipment (OFEQ) disclosed that they were not in compliance with the minimum public shareholding as required by the listing rules of the Main Board of the Colombo Stock Exchange (CSE) as at 30 November 2018.
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