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Sri Lanka’s diversified conglomerate Sunshine Holdings PLC announced the merger of their healthcare business consisting of Sunshine Healthcare Lanka and Healthguard Pharmacy with the healthcare arm of Akbar Brothers. It consists of Akbar Pharmaceuticals, Lina Manufacturing and Lina Spiro.
The strategic merger will create Sri Lanka’s first fully integrated healthcare company starting from manufacturing up to retailing of healthcare products, including last-mile distribution across the country for all healthcare products. The company will be operating in all five segments of the healthcare supply chain, namely R&D, manufacturing, importation, distribution and retail.
This merger will also enhance the pharmaceutical manufacturing capacity in the country with both leading business groups working together to invest in this critical national building sector. By combining their strengths, the merged healthcare business will be able to build further manufacturing capacity as well as de
The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and the Colombo Stock Exchange (CSE) recently conducted a webinar titled “REITs: The way Forward and Opportunities”, focusing on the newly introduced Real Estate Investment Trusts (REITs) Framework. The discussion also highlighted key features of this opportunity that can be a catalyst for multiple benefits for property owners, investors and the economy at large.
The webinar featured capital market and financial services experts including the chairman of CA Sri Lanka Manil Jayesinghe, CSE CEO Rajeeva Bandaranaike, Director Corporate Affairs at the Securities and Exchange Commission of Sri Lanka (SEC) Dr. Harshana Suriyapperuma, CSE Chief Regulatory Officer Renuke Wijayawardhane, Principal for Tax and Regulation at KPMG Sri Lanka Suresh R. I. Perera and Group Director Candor Holdings Ravi Abeysuriya.
Continuing its commitment in transforming Sri Lanka with digitization, Mobitel, the national mobile service provider together with the Ministry of Education, launched an online system to facilitate the evaluation of Grade 5 scholarship results for school application.
Upon receiving outstanding marks at the highly competitive Grade 05 Scholarship exams, students currently rely on a manual system that is prone to human setbacks and unexpected delays, causing inconvenience when applying for new schools. Understanding this void, Mobitel collaborated with the Ministry of Education to create this online evaluation system that will facilitate the assessment of school applications based on the results of grade 5 scholarship students. The launch of the program was held on December 10, under the patronage of Minister of Education, (Prof.) G. L. Peiris and the Group CEO of SLT and Mobitel, Lalith Seneviratne along with higher officials from both the Ministry of Education and the SLT Group.
By Hiran H.Senewiratne
Browns Investments PLC announced that it has entered into a Memorandum of Understanding (MOU) with China Harbour Engineering Company to put up a major mixed development project in Port City, which runs into US$ one billion, stock market analysts said.
Under this joint venture project Browns Investments will be building two residential apartments and one office complex. The total area that would be covered by the project would be around 160,000 square meters. Initial investment would be US$ 450 million and the project will take some time for completion, analysts added..
Browns Investments contributed more than 48 percent to the turnover with its retail trading activities, stock market analysts said.