Thursday, 24th April 2014

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Business

  • cts valued at over US$ two billion envisaged
The Ruhunu Magampura Port is now turning out to be a major transshipment hub fulfilling one of its prime objectives. A $550 million tax-free port zone is being set up outside the port, with local and international companies expressing interest in setting up shipbuilding, ship-repair and warehousing facilities in the zone. Two ships carrying loads of vehicles at the harbour are seen.
The Ruhunu Magampura Port is now turning out to be a major transshipment hub fulfilling one of its prime objectives. A $550 million tax-free port zone is being set up outside the port, with local and international companies expressing interest in setting up shipbuilding, ship-repair and warehousing facilities in the zone. Two ships carrying loads of vehicles at the harbour are seen.
Hemas CEO Steven Enderby
Hemas Holdings PLC's five year Listed Unsecured Redeemable Debenture Issue Rated A+(lka) by Fitch Ratings (Lanka)was oversubscribed and closed in the early hours of the issue yesterday itself. The initial issue was to raise Rs. 500 million with an option to increase up to a further Rs. 500 million at the discretion of Hemas in the event of an oversubscription. In light of the oversubscription of the initial issue and due to the keen interest of investors, Hemas decided to excise the green shoe option by raising up to Rs. 1,000 million. Hemas intends to utilize the funds raised through this...