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LOLC Group records Rs. 4 b 3Q profit, Rs. 45 b for 9 months - Adaderana Biz English

LOLC Group records Rs. 4 b 3Q profit, Rs. 45 b for 9 months
February, 16, 2021
LOLC Holdings PLC (LOLC) releasing its nine-month results has recorded a PAT (profit after tax) of Rs. 45 billion after adjusting for corporate tax on a PBT (profit before tax) of Rs. 48 billion.
The group recorded Rs.4 billion as profits for the third quarter, a healthy performance considering the COVID-19 pandemic situation negatively affecting the financial services and leisure sector directly and other sectors indirectly. The profit attributable to equity holders was Rs.3.42 billion up from Rs.1.46 billion a year ago.
The Group’s Financial Services Sector contributed Rs. 3.5 billion as profits, and these results were achieved allowing a strong level of risk mitigating provisions amounting to Rs. 23 billion (Rs. 10.3 billion in 2019) for bad and doubtful debts being made, over and above the regulated levels. Conservative provisioning was made considering the potential risks arisin ....

Sri Lanka , Sierra Leone , Kapila Jayawardena , Sunbird Bio Energy Ltd , China Harbour Engineering Company Limited , Myanmar Microfinance Ltd , Group Financial Services Sector , Browns Investments , Maturata Plantations Ltd , Financial Services , Colombo International Finance Centre , Mgroup Financial Services , Development Finance , Life Assurance Ltd , Lolc Holdings , Insurance Ltd , Hotels Lanka , Financial Services Sector , Micro Finance Ltd , Non Financial Services , Assurance Ltd , Power Generation , Serendib Leisure , Investment Arm , Mixed Development Project , Colombo Port City ,

CHEC to deliver first 50 Catherine Estates houses by May

A view of a section of the Catherine Estates Housing Development along Dunbeholden Road in St Catherine.
China Harbour Engineering Company Limited (CHEC) Jamaica is set to deliver the first 50 homes in the Catherine Estates Housing Development before May.
Launched in June 2020, the Catherine Estates Housing Development is a joint-venture partnership between CHEC and the Housing Agency of Jamaica (HAJ) and is expected to provide 1,650 low-income houses.
The development will have one bedroom and studio duplexes.
A one-bedroom house in the Catherine Estates Housing Development
CHEC is currently working in phases three and four of the development along Dunbeholden Road in St Catherine. The first 50 homes will consist of 30 one-bedroom houses and 20 duplexes. ....

Morant Bay , Saint Thomas , China Harbour Engineering Company Limited , Catherine Estates Housing Development , Housing Agency Of Jamaica , Morant Bay Urban Centre , China Communications Construction Company Limited , Housing Agency , Catherine Estates Housing , Dunbeholden Road , Country Manager , Communications Construction Company Limited , Southern Coastal Highway Improvement Project , Kingston Logistics , மாரெஂட் வளைகுடா , துறவி தாமஸ் , சீனா துறைமுகம் பொறியியல் நிறுவனம் வரையறுக்கப்பட்டவை , கேத்தரின் தோட்டங்கள் வீட்டுவசதி வளர்ச்சி , மாரெஂட் வளைகுடா நகர்ப்புற மையம் , சீனா தகவல்தொடர்புகள் கட்டுமானம் நிறுவனம் வரையறுக்கப்பட்டவை , கேத்தரின் தோட்டங்கள் வீட்டுவசதி , நாடு மேலாளர் , தகவல்தொடர்புகள் கட்டுமானம் நிறுவனம் வரையறுக்கப்பட்டவை , தெற்கு கடலோர நெடுஞ்சாலை முன்னேற்றம் ப்ராஜெக்ட் , கிஂக்ஸ்‌டந் தளவாடங்கள் ,

Takoradi harbour to get new

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BY: Emmanuel Bruce
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An Engineering, Procurement and Construction (EPC) agreement between PMD AssetCo Limited and the China Harbour Engineering Company Limited (CHEC) is to give birth to the construction of a new shipyard that is set to begin in March this year at the Takoradi Port.
PMD are the project developers while CHEC will be in charge of the civil construction works on the facility which is estimated to cost $49 million.
The project will be the first private shipyard in the country and is expected to be completed in 18 months.
Speaking at the signing ceremony, the Managing Director of PMD AssetCo, Mr Stanley Raja Korshie Ahorlu, said when the shipyard was completed and fully operational it would employ about 1,000 people and make the Takoradi Port the preferred port in West Africa. ....

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Dredging Industry Looks for a Revival in Government Contracts: Fact.MR Study

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NEW YORK, Jan. 19, 2021 /PRNewswire/ Despite sluggish returns in 2020 due to unprecedented COVID-19 outbreak, the global dredging market is expected to report 3.3% YOY growth in 2021, a significant improvement over 3.5% y-o-y exhibited in 2020, finds Fact MR in a new study. The overall growth outlook remains positive, especially as applications in trade activity, maintenance, and urban development among others continue to rise. The market will vastly gain with demand in government sector rising. Fact MR in a new study has forecast government to account for over 43% of overall share through 2031.
Besides this, demand in the oil and gas industry will continue rising through the course of the report s forecast period. According to the Oil 2020- Analysis , published in March 2020 by the International Energy Agency (IEA), the global oil production capacity is expected to rise by 5.9 mb/d through 2025. It was also stated in the repor ....

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LankaWeb – Colombo Port City Secures First Investment with One Billion Dollar Colombo International Finance Center

Posted on December 17th, 2020
අග්‍රාමාත්‍ය මාධ්‍ය
අංශය
The first investment within the Colombo
Port City will commence with the one billion dollar Colombo International
Finance Centre (CIFC) Mixed Development Project.
The momentous agreement between Browns
Investments, the strategic investment arm of the LOLC Group, and China Harbour
Engineering Company Limited (CHEC) was signed this morning in the presence of
Prime Minister Mahinda Rajapaksa and Ambassador of China to Sri Lanka Qi
Zhenhong.
Attracting foreign direct investment is a
key priority for our Government, and this landmark project is a strong
indicator that Sri Lanka is now back in business,” Prime Minister Rajapaksa
said. We invite investors from around the world to explore the multitude of ....

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