FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka


Submit PostSubmit Post
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post



Latest topics

» Related party transactions in Banks cause concerns
by ChooBoy Yesterday at 10:59 pm

» Daily Foreign Transactions
by Pradeep90 Yesterday at 10:24 pm

» Japanese money laundering via PABC Bank raise CB eye brows
by Lotus Eater Yesterday at 9:34 pm

» Principal governmental and regulatory policies that govern the banking sector in Sri Lanka
by Lotus Eater Yesterday at 9:18 pm

» Ban of chemical fertilizers is a great news
by ADVENTUS Yesterday at 6:29 pm

» DIPD/HAYC/HAYL
by ADVENTUS Yesterday at 1:11 pm

» Peoples leasing technically positive Target Price Rs 20
by Eranx Yesterday at 11:30 am

» PEOPLE'S LEASING & FINANCE PLC
by Eranx Yesterday at 11:29 am

» "MFL" DEAL to 12 RS (multi finance plc)
by Bakka1988 Thu May 06, 2021 11:22 pm

» FUTURE of BROWNS INVESTMENT PLC (BIL)
by ONTHEMONEY Thu May 06, 2021 11:21 pm

» GLAS will be winner with Super Gain.
by Promoney Thu May 06, 2021 10:30 pm

» What happens in the market is absolutely 100% out of your control. Stock market for beginners
by Asoka Samarakone Thu May 06, 2021 9:45 pm

» Synergies of possible merger between Sampath Bank and PABC
by CHRONICLE™ Thu May 06, 2021 5:42 pm

» ACCESS ENGINEERING ( AEL.N )
by ADVENTUS Thu May 06, 2021 1:50 pm

» Prime Lands Residencies Limited (PLR)
by Nandun Thu May 06, 2021 10:42 am

» EXPOLANKA HOLDINGS PLC (EXPO.N0000)
by Captain Wed May 05, 2021 11:51 pm

» Growing Fear
by Wickyz Wed May 05, 2021 8:15 pm

» CONGRATULATIONS TO FINANCIAL CHRONICLE ON THIS 11TH YEAR
by CHRONICLE™ Wed May 05, 2021 3:31 pm

» HNB to merge with Seylan Bank?
by reyaz Wed May 05, 2021 11:37 am

» There are howmany funds in Sri Lanka?
by reyaz Tue May 04, 2021 4:52 pm

EXPERT CHRONICLE™

ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

CHRONICLE™ NEWS PRODUCTS

FINANCIAL CHRONICLE™

Views & Reviews, Analysis, Evaluations, Discussions, Gossip and Hot Tips relating to Sri Lankan companies listed on the Colombo Stock Exchange (CSE)
Contribute




DAILY CHRONICLE™

Latest news and articles published in Newspapers, Websites, Blogs and other online news sites relating to business and investments in Sri Lanka
Contribute



ECONOMIC CHRONICLE™

This is a section that provide news, views, analysis, predications relating to Political and Socio-Economic factors and how such activities affect the Stock Market and other economic activity of the Country.

Contribute




EXPERT CHRONICLE™

This is an exclusive section for Expert Articles which will help member to share knowledge through comments and responses of the members. All members are allowed to reply and make comments to these articles.

Contribute


Submit Post


CHRONICLE™ YouTube

Youtube Videos and other visual presentations relating Stock market and other investment advise submitted by members or other contributors.

Contribute


Submit Post


කොළඔ කොටස් වෙළඳපොළේ වංශකථාව
කොළඔ කොටස් වෙළඳපොළේ ලැයිස්තුගත සමාගම් කොටස් ගැන තොරතුරු¸විශ්ලේෂණ¸සාකච්ඡා¸ කටකතා¸රසකතා යන සියල්ල අපේම සිංහලෙන් කතා කළ හැකි ‘කතා මණ්ඩපය’

Contribute

Twitter Feeds
POPULAR COMPANIES
A

ABANS ELECTRICALS PLC

ACCESS ENGINEERING PLC Hot

ACL CABLES PLC

ACL PLASTICS PLC

ACME PRINTING & PACKAGING PLC

AGSTAR PLC

AITKEN SPENCE HOTEL HOLDINGS PLC

AITKEN SPENCE PLC

ANILANA HOTELS AND PROPERTIES PLC

ARPICO INSURANCE PLC

ASIA ASSET FINANCE PLC

ASIA CAPITAL PLC

B

BAIRAHA FARMS PLC

BALANGODA PLANTATIONS PLC

BIMPUTH FINANCE PLC

BLUE DIAMONDS JEWELLERY WORLDWIDE PLC

B P P L HOLDINGS PLC

BROWNS BEACH HOTELS PLC

BROWNS INVESTMENTS PLC

C

CARGO BOAT DEVELOPMENT COMPANY PLC

CENTRAL INDUSTRIES PLC

CEYLON COLD STORES PLC

CEYLON GRAIN ELEVATORS PLC Hot

CEYLON TEA BROKERS PLC

CEYLON TOBACCO COMPANY PLC

CHEVRON LUBRICANTS LANKA PLC

COLOMBO FORT LAND & BUILDING PLC

COMMERCIAL BANK OF CEYLON PLC

CITRUS LEISURE PLC Hot

COMMERCIAL CREDIT AND FINANCE PLC

D

DANKOTUWA PORCELAIN PLC

DFCC BANK PLC

DIALOG AXIATA PLC

DIALOG FINANCE PLC

DIPPED PRODUCTS PLC

DISTILLERIES COMPANY OF SRI LANKA PLC

DUNAMIS CAPITAL PLC

E

EAST WEST PROPERTIES PLC Hot

EASTERN MERCHANTS PLC

EXPOLANKA HOLDINGS PLC

E-CHANNELLING PLC

F

FIRST CAPITAL HOLDINGS PLC

G

GALADARI HOTELS (LANKA) PLC

GUARDIAN CAPITAL PARTNERS PLC

H

HATTON NATIONAL BANK PLC

HAYLEYS PLC

HAYLEYS FABRIC PLC

HAYLEYS FIBRE PLC Hot

HEMAS HOLDINGS PLC

HIKKADUWA BEACH RESORT PLC

HNB ASSURANCE PLC

HVA FOODS PLC

J

JANASHAKTHI INSURANCE COMPANY PLC

JOHN KEELLS HOLDINGS PLC Hot

JOHN KEELLS HOTELS PLC

L

LANKA ASHOK LEYLAND PLC

LANKA IOC PLC

LANKEM CEYLON PLC

LANKEM DEVELOPMENTS PLC

LAUGFS GAS PLC

LAUGFS POWER LIMITED

LOLC FINANCE PLC

LOLC HOLDINGS PLC

LUCKY LANKA MILK PROCESSING COMPANY PLC

M

MELSTACORP PLC

N

NATIONAL DEVELOPMENT BANK PLC

NATION LANKA FINANCE PLC

NESTLE LANKA PLC

O

ORIENT FINANCE PLC

OVERSEAS REALTY (CEYLON) PLC

P

PANASIAN POWER PLC

PEOPLE'S LEASING & FINANCE PLC

PIRAMAL GLASS CEYLON PLC

PRIME FINANCE PLC

R

RAIGAM WAYAMBA SALTERNS PLC

RENUKA AGRI FOODS PLC

RENUKA CAPITAL PLC

RENUKA HOLDINGS PLC

RICHARD PIERIS AND COMPANY PLC

RICHARD PIERIS EXPORTS PLC Hot

ROYAL CERAMICS PLC

S

SAMPATH BANK PLC

SEYLAN BANK PLC

SIERRA CABLES PLC

SINGHE HOSPITALS PLC Hot

SMB LEASING PLC

SOFTLOGIC HOLDINGS PLC

SOFTLOGIC LIFE INSURANCE PLC

SRI LANKA TELECOM PLC

SWISSTEK (CEYLON) PLC Hot

T

TEEJAY LANKA PLC

TESS AGRO PLC

THREE ACRE FARMS PLC

TOKYO CEMENT COMPANY (LANKA) PLC Hot

U

UNION BANK OF COLOMBO PLC

V

VALLIBEL FINANCE PLC

VALLIBEL ONE PLC Hot

VALLIBEL POWER ERATHNA PLC

W

WASKADUWA BEACH RESORT PLC


You are not connected. Please login or register

FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » NewsPaper 08.09.2014

NewsPaper 08.09.2014

Go down  Message [Page 1 of 1]

1NewsPaper 08.09.2014 Empty NewsPaper 08.09.2014 Mon Sep 08, 2014 10:02 am

SHARK aka TAH

SHARK aka TAH
Expert
Expert
Sri Lanka’s oldest Non-Bank Financial Institution (NBFI) The Finance Company PLC (TFC), which completed 74 years in operation in financial year 2013, says its losses during the period had mounted due to the drop in the interest income, where the decline in the pawning income was the main contributing factor. The Company during the year ended 31st March 2014 has made a loss after income tax reversal of Rs.1.8 billion against a loss of Rs.1.5 billion reported in the previous year, financials showed. The Company’s interest income dropped by 5 percent YOY compared to an increase of 6 percent recorded in year 2012/13.

“The interest expenses also increased during the year under review by 11% due to the increase in the time deposit intake and the total operating expenses increased marginally by 4%,” TFC Managing Director Aruna P Lekamge said.
He noted that drop in pawning income owing to the downward trend in the market prices of gold was the main contributing factor for the marginal drop recorded whilst the Company expects an increase in pawing income with the upward trend reported in the last quarter of 2013/14.

“The future strategy of the Company is to build up a low cost funding base and to look at new avenues of increasing its lending portfolio to the SME Sector whilst disposing the current real estate stock and investment properties. The Company will also look into joint property development projects on the mega lands projects and properties belonging to the Company thereby converting the non-yielding real estate portfolio to yielding portfolio,” Lekamge, who took over as the Managing Director in May 2014.

In May 2014, Sri Lanka’s financial sector regulator, the Central bank of Sri Lanka announced the commencement of the second phase of the restructuring program for the Company and that a credit line has been arranged for the Company of Rs.6 billion from the Sri Lanka Deposit Insurance and Liquidity Support Scheme in keeping line with the envisaged business model. Further, to implement the future conduct of business under new restructuring plan a new Board was also appointed.

“The Company, started off its operations under the new management with a short-term plan initially drawn up for three months, in order to gear its business activities to the level envisaged to achieve with the volumes once the funding is received. The Board and management of the Company is preparing the five year business plan to be submitted to the Central Bank. The Company has also introduced new products such as Revolving Business Loans, Personal Loans and Top-up Loans in order to penetrate the markets and venture into new avenues of increasing the Investment portfolio,” Lekamge said pointing out that the notable gain that was achieved during the year under review was the Company being able to win the tax appeal made to the Tax Appeal Commission which resulted in a net positive gain of Rs.401 million.

“The Real Estate Income was the main contributor for the increase in total other income by 4% compared to a drop of 63% recorded in the year 2012/2013. The continued customer confidence in the Company is evident from increase in the Public Deposits by Rs.1.88 billion during the year under review,” the newly appointed MD added.
- See more at: http://www.nation.lk/edition/biz-news/item/33030-tfc-hit-by-decline-in-pawning-income.html#sthash.3FuAdoDy.dpuf

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum