Colombo...

banks to raise Rs.5.4 billion to part finance the development cost of the ODEL Mall project.

The group’s healthcare business, which runs the Asiri hospital chain earned a revenue of Rs.3.2 billion, up from Rs.3.0 billion a year ago. The operating profit rose to Rs.766.2 million from Rs.713 million a year ago.

The group financial services business, which has a life insurance subsidiary, a licensed finance company and stock brokering firm, reported Rs.390.3 million in operating profit on a revenue of Rs.3.1 billion, up from Rs.2.5 billion a year ago.

As of June 30, Pathirage held 40.6 percent in Softlogic Holdings Middle East while Samena Ceylon Holdings Limited held 20.75 percent stake. The Employees’ Provident Fund held 0.61 percent stake being the fifteenth largest shareholder. exchange rate.”

Sri Lanka earlier this month raised import duties on small hybrid cars by more than 50 percent to boost revenue and curb a sharp fall in the rupee.

Coomaraswamy had said the rupee’s decline was driven mainly by external factors.

Foreign investors sold government securities worth a net Rs.2.56 billion (US$15.96 million) in the week ended Aug. 8, bringing the outflow so far this year to Rs.39.1 billion, Central Bank data showed.

He also noted that despite the recent uptick in oil prices, which is largely due to production cuts from OPEC countries, another year or two would pass before the demand picks up again globally for offshore support vessels.

The company is also aiming to bag contracts for cable laying vessels for telecommunication and power transmission, wind farm support vessels, liquefied natural gas storage, bunkering and re-gasification vessels and pilot station vessels.

DOCK celebrated its 44th anniversary on August 1, this year and the company said its shipyard has repaired over 10, 000 vessels and build 245 new ships since its inception in 1974.

Meanwhile, a segmental breakdown of business activities during the first six months of the year (1H18) showed both shipbuilding and repair segments recording lower revenues compared with the previous year.

The shipbuilding business recorded revenue of Rs.2.6 billion for 1H18, down from Rs.3.8 billion reported for the same year last year. The segment reported an operating loss of Rs.39.9 million against an operating profit of Rs. 113 million. The ship repair segment reported revenue of Rs.2.5 billion against Rs.2.8 billion a year ago and saw its operating profit coming down to Rs.374.6 million from Rs.731.9 million.

The heavy engineering was the only business segment that reported positive growth during the quarter under review, with revenues of Rs.621.2 million, up from Rs.360.7 million a year ago and, operating profit of Rs.160.6 million up from Rs.98 million.

Japan’s Onomichi Dockyard has 51 percent stake in DOCK and the government collectively own about 35 percent of the company through various state-owned institutions.