BIZ

New Chairman appointed to SEC

Published

1 year ago

February 21, 2023

editor

Mr. Faizal Salieh has been appointed as the new Chairman of the Securities and Exchange Commission of Sri Lanka (SEC).

He assumed duties as the SEC Chairman yesterday (20).

Mr. Salieh currently serves as the Chairman of the Sri Lanka Institute of Directors.

Mr. Salieh brings a wealth of experience to his job, having over 40 years of extensive experience in commercial and development banking both in Sri Lanka and overseas.

He was the Chief of Corporate & Merchant Banking at ANZGrindlays Bank; COO of NDB; Executive Director/CEO of NDB Housing Bank; founder MD/CEO of Amana Bank; and Senior Independent Director of Cargills Bank and HNB General Insurance.

BIZ

Onmax DT ordered to submit plans to refund depositors

Published

14 hours ago

May 2, 2024

nipuni

Colombo Chief Magistrate Thilina Gamage today (May 02) ordered directors of the company – Onmax DT to submit a programme to refund the aggrieved depositors of the Onmax DT pyramid investment scheme.

The 04 company directors previously released on bail also appeared in court today.

The magistrate made the order after considering facts presented in court.

BIZ

CPC slashes fuel prices

Published

2 days ago

April 30, 2024

editor

The Ceylon Petroleum Corporation has reduced fuel prices with effect from midnight today (April 30).

Accordingly,

– Petrol (92) has been reduced by Rs.3/- to Rs. 368/– Petrol (95) has been reduced by Rs. 20/- to Rs. 420/-
– Lanka Auto Diesel has been reduced by Rs. 30/- to Rs. 333/-
– Lanka Super Diesel 4 Star Euro 4 has been reduced by Rs. 9/- to Rs. 377/-

– Lanka Kerosene has been reduced by Rs. 30/- to Rs. 215/-

BIZ

Supreme Global Holdings enters bidding to acquire SriLankan shares

Published

3 days ago

April 29, 2024

editor

Supreme Global Holdings, a conglomerate owned by R.M. Manivannan, has entered the bidding process to acquire shares of the national carrier – SriLankan Airlines.

According to a media release by the company issued in this regard, the Expression of Interest (EOI) process, which concluded last week (Apr 27), saw the participation of Supreme Global, under Sherisha Technologies Private Limited.

Sherisha Technologies Private Limited, formerly known as SunEdison Energy India Private Limited.

Last week it was reported that six (06) Request for Qualification (RfQ) were received from potential investors for the acquisition of shares in SriLankan Airlines Limited.

Sherisha Technologies Private Limited was among the six entities.

Supreme Global Holdings is also known for having formed a robust consortium including MBS Investments, the investment arm of the Private Office of Sheikh Nayef Bin Eid Al Thani of Qatar.

Apart from its recent bidding for SriLankan Airlines, Supreme Global Holdings previously assisted Sri Lanka during the energy crisis faced in 2022, by extending over USD 1.5 billion in credit to Sri Lanka, along with innovative payment solutions such as accepting Sri Lankan rupees for oil payments.