Singer debentures oversubscribed
Singer PLC's issue of 10 million listed, rated, senior, unsecured,
redeemable debenture was oversubscribed, the company said in a Stock
Singer issued the debenture at an issue price of Rs. 100 each with an
option to issue a further five million of the debentures in the event of
The company said it has received applications of an aggregated value
of over Rs. 1.5 billion and accordingly the initial issue has been
The subscription closed on December 17 and the basis of allotment
will be notified to the Colombo Stock Exchange in due course, company
CASL introduces code of ethics
The Institute of Chartered Accountants of Sri Lanka (CASL) recently
launched the 2014 edition of the Code of Ethics for Professional
Accountants in its continuing efforts to ensure that Chartered
Accountants complied with the highest standards of professional ethics.
The revised publication was developed considering the relevant
developments to ethical practices worldwide and emerging matters
specific to Sri Lanka.
Dr. Harsha Cabral, PC, commended Chartered Accountants for being one
of the few professionals who understood the importance of ethics, while
also congratulating CASL for ensuring that its professionals maintained
standards while in practice.
"This is one profession in particular which maintains discipline, and
you have to be congratulated for this. Most other professions don't even
have a document like this to look at," he said.
Siyapatha Finance debentures oversubscribed
The listed debenture issue of Siyapatha Finance Limited was
oversubscribed on Thursday, the opening day, according to financial
The company issued 5,000,000 rated, unsecured, subordinated,
redeemable debentures at a face value of Rs.100 each with a green shoe
option to issue up to 5,000,000 of the said debenture, totalling Rs. 1
The five-year debentures were rated A- (lka) by Fitch Ratings Lanka
NDB Investment Bank acted as the financial advisers and managers to
Fed delays parts of Volcker rule until 2017
The US Federal Reserve has given Wall Street banks even more time to
comply with parts of the Volcker Rule, a key provision of the 2010
Dodd-Frank financial reform bill.
The rule prevents federally-insured banks from using their money when
investing in certain risky assets.
The Fed had already informed that banks would have until 2017 to deal
with one type of trading product.
It will now grant an extension to other types of funds.
Initially, the Fed had said banks would have until July 21, 2017 to
stop trading in collateralised loan obligations, which essentially move
the risk of investments in loans off their balance sheet.
Mrs Anusha Nanayakkara, a shopper at Arpico Supercentre Hyde
Park Corner (third left) is joined by (from left) Assistant
Marketing Manager, Richard Pieris Distributors Ltd, Peshala
Wijewardana, Assistant Manager, Supercentre, Asitha
Welarathne and Head of Marketing, Richard Pieris
Distributors Ltd, Minodh de Sylva at the lighting up of the
giant Christmas tree.
Construction work of Trillium Colombo 7 was launched
recently at Torrington Avenue, Colombo recently. Here
Chairman, Trillium Property Management, Janaka Ratnayake
cuts the first sod at the ground-breaking ceremony. Staff of
the organisation look on. The 20-unit luxury apartment
project is due to be completed by June 2016. -SJ