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

» TRUE VALUE OF LANKA ALUMINUM INDUSTRY (LALU)
by lakmal Today at 9:56 am

» CSE - The World's best performer!
by samaritan Today at 9:52 am

» GALORE OF GOOD NEWS TO THE CSE
by samaritan Today at 9:41 am

» Game Changed! SUPER GREEN
by Chathur Today at 9:25 am

» Daily Foreign Transactions
by Promoney Today at 8:27 am

» DIPD/HAYC/HAYL
by Eranga87 Today at 1:54 am

» IS it right time to stick to warren buffett's most famous saying ???
by kasun_gimhana Today at 12:36 am

» EBCR group of companies
by Wolf86 Yesterday at 10:30 pm

» GLAS will be winner with Super Gain.
by Promoney Yesterday at 7:29 pm

» Use the Ten Principles of Value Investing to spot value stocks in the oversold market
by EquityChamp Yesterday at 5:44 pm

» HATTON NATIONAL BANK PLC
by ADVENTUS Yesterday at 4:22 pm

» Investor sentiment - will there ever be a recovery?
by xhunter Yesterday at 4:19 pm

» The strong learn to hang in there and keep bouncing back until they win. Stock market for beginners
by Asoka Samarakone Yesterday at 4:04 pm

» Everybody talks about huge selling. That means there are buyers in the market to buy these shares. Stock market for beginners
by samaritan Yesterday at 4:00 pm

» SHOESHINE BOYS!
by Bakkabwoi Yesterday at 2:36 pm

» CSE - Market status
by stockie Yesterday at 1:06 pm

» Guardian Investment Trust (GUAR) could Sky Rocket
by RJ1010 Yesterday at 9:41 am

» CB to continue the current accommodative monetary policy stance
by samaritan Yesterday at 9:18 am

» PANASIAN POWER PLC (PAP.N0000)
by vijay singh Yesterday at 2:26 am

» Maharaja's Advice
by madukp Yesterday at 1:17 am

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™ » FINANCIAL CHRONICLE™ » Harry J-led Japanese consortium makes UL offer in writing

Harry J-led Japanese consortium makes UL offer in writing

Go down  Message [Page 1 of 1]

DS Wijesinghe


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Daily FT, 17th August 2027. The Japanese consortium led by business tycoon Harry Jayawardena has this week given a written offer on SriLankan Airlines to the Gover-nment, which is trying to revive the national carrier on a public-private partnership (PPP) basis.

The Daily FT learns the offer in writing is to own 49% stake and manage SriLankan Airlines. The written offer has been handed over to Prime Minister Ranil Wickremesinghe. The development follows the completion of a preliminary fact-finding mission by the Japanese consortium representatives recently. Apart from Jayawardena’s tourism-rich Aitken Spence, the Japanese consortium comprises All Nippon Airways (ANA) as the airline partner as well as a leading light aircraft manufacturer and shipbuilder.

ANA is the largest airline in Japan. Contrary to previous reports, the Japan Airlines (JAL) is not part of the consortium.

The restructuring of SriLankan Airlines is also linked to the IMF’s $ 1.5 billion Extended Fund Facility.

According to the IMF’s latest country report on Sri Lanka released last week, SriLankan Airlines has undertaken route and fleet optimisation, and now aims at securing a strategic partner and resolving any fiscal contributions to its liabilities.

“During the ongoing negotiation, the airline’s financial performance will be monitored quarterly,” the IMF report added.

Yesterday the Daily FT also quoted Public Enterprise Development Minister Kabir Hashim as saying that the restructuring of SriLankan Airlines will be led by the Cabinet in order to expedite the program.

According to the Minister, the Board of Directors of SriLankan Airlines, which was tasked with the restructuring program over the last two years, has not been able to deliver results, prompting the Government to take charge of matters.

“The last two years the board has been driving its own agenda in restructuring the entity but has not been successful. Now the effort will be monitored by the Cabinet. The Ministry will lead the restructuring,” Hashim told Daily FT.

The Ministry is also focusing on how to optimise different areas of businesses under SriLankan Airlines, focusing on ground handling, catering, engineering and the aviation academy which are already profitable. However, the Minister highlighted that the entities were not running at an optimum level and the restructuring would focus on maximising profits and leveraging advantages.

The Ministry has not set a deadline for the restructuring process, but the Minister said that the process should have happened “yesterday”.

“The airline is in very bad shape. It is bleeding funds and even the IMF has said that it has to be restructured as soon as possible,” Hashim added.

During an interview with the Daily FT (http://www.ft.lk/article/631248/Fresh-restructuring-plan-for-SriLankan) last month, SriLankan Airlines CEO Capt. Suren Ratwatte said the airline would have achieved break-even in FY17 if not for an estimated $ 45 million hit from the partial closure of the Bandaranaike International Airport earlier this year, which resulted in the cancellation of over 600 flights. The airline also faced few others issues.

Parallel to the PPP initiative, the SriLankan board had submitted a revival plan to the Government with several conditions, saying if those were met the national carrier can be revived with the current status quo of 100% State ownership.

In FY17, SriLankan boosted its revenue over the previous year and the latest restructuring plan focuses on several issues including the price of aviation fuel, aircraft leases, debt servicing cost, no adverse new taxation and the realignment of human resources. The

Back to top  Message [Page 1 of 1]

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