Tuesday, 16th September 2014

Business Editor: 0094 11 242 9221 / E mail: business@dailynews.lk

Business

SokSophal, LOLC, officials at the signing ceremony held in Cambodia.
The LOLC Group acquired a 60% stake in ThaneakeaPhum Cambodia (TPC), for USD 20.3 Million. The acquisition was throughLOLC's fully owned subsidiary, LOLC Micro Investments Ltd (LOMI), which is the microfinance investment arm of LOLC. The LOLC Group has received all required regulatory approvals, including approvals from the Central bank of Sri Lanka, Ministry of Finance of Sri Lanka, National Bank of Cambodia and the Ministry of Commerce of Cambodia for the acquisition. TPC is the first largest microfinance company in Cambodia with a gross loan book of USD 100 Million. TPC carries out its...
Senior Minister, Dr Sarath Amunugama opening the plaque of beach front resort Taprobana Wadduwa looked on by Japanese Ambassador to Sri Lanka, Nobuhito Hobo and Stefan Abeyesinhe, Director/CEO Asia Capital Group. Pictures by Bandula Alahakoon
Asia Capital Group would spend over Rs 4 billion in four hotels within a span of three years, said Stefan Abeyesinhe, Director/CEO Asia Capital Group at the opening of the beach front resort Taprobana Wadduwa on Sunday. The 27 roomed Rs 1 billion hotel would be managed by Asia Leisure, a subsidiary of the Asia Capital Group and is a 75 - 25 proportion joint venture between Asia Capital Group and Japan Capital (Pvt) Ltd. Taprobana Wadduwa is reachable from both the Southern Expressway and the Galle road. Some unique features of the hotel is the open air bar, Japanese food and the Japanese...