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Some of Sri Lanka’s top corporates, including conglomerates, were honoured on Thursday night at the Grand Finale of the 56th Annual Report Awards, organised by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) for their resilience and perseverance in promoting transparency, accounta
Major stakeholders sell 62% stake of PAP to RIL Property Daily News (via HT Media Ltd.) Emerald Sri Lanka Fund, a private equity fund that supports small and mid-sized businesses in Sri Lanka, has announced its divestment in Panasian Power PLC (PAP), one of Sri Lanka’s leading renewable energy solution providers and suppliers of clean energy to the national grid. Emerald Sri Lanka Fund, along with other major shareholders, sold a 62% stake of PAP to RIL Property PLC (RIL), a Sri Lankan conglomerate, for a total sale value of Rs 1.7 billion. NDB Investment Bank acted as the e...