Home
Register
Cash-strapped Sri Lanka Cricket (SLC) will turn to its trusted lender, Bank of Ceylon for a re-financing facility after they failed to obtain a loan from the International Cricket Council (ICC), Ceylon Today learns.
Sri Lanka put in a request to the ICC in January to obtain a loan of US$ 8.7 million (approximately Rs. 1 billion) considering the lean period ahead to pay off a loan in full to the Bank of Ceylon. They (SLC) owe US$ 8.7 million or Rs 1 billion to the Bank of Ceylon.
Sri Lanka has indicated to the ICC that they could recover the loan from the 2015 Cricket World Cup proceeds that the island is entitled to but the ICC was not convinced.
Sri Lanka is struggling for funds to make ends meet due to a lean Future Tours Programme, where Sri Lanka will have a solitary three match ODI and a T20 series against New Zealand in November.
The Executive Committee has therefore advised its treasurer Nuski Mohammed to negotiate a refinancing facility with the state bank to ease their burden in an extremely difficult financial year ahead.
Meanwhile, the government has indicated that it would bear the construction costs of the three-stadia, R. Premadasa, Pallekele and Hambantota which amounts to a staggering Rs. 3.2 billion.
For the 2011 Cricket World Cup, Sri Lanka took up a major infra-structure drive, building two new venues and refurbishing one to host the matches in Sri Lanka.
Meanwhile Sri Lanka Cricket will incur a loss of Rs. 84 million from the current series against Bangladesh.
Sri Lanka is currently hosting Bangladesh for two Tests, three ODIs and one T20 match and the tour would only generate a forecasted income of Rs. 31 million as opposed to the expenditure estimated at a staggering Rs. 115 million.
by Champika Fernando
http://www.thepapare.com/index.php/sports/cricket/australian-tour-of-sri-lanka-2011/697-sri-lanka-vs-australia-hot-a-spicy-competition
Sri Lanka put in a request to the ICC in January to obtain a loan of US$ 8.7 million (approximately Rs. 1 billion) considering the lean period ahead to pay off a loan in full to the Bank of Ceylon. They (SLC) owe US$ 8.7 million or Rs 1 billion to the Bank of Ceylon.
Sri Lanka has indicated to the ICC that they could recover the loan from the 2015 Cricket World Cup proceeds that the island is entitled to but the ICC was not convinced.
Sri Lanka is struggling for funds to make ends meet due to a lean Future Tours Programme, where Sri Lanka will have a solitary three match ODI and a T20 series against New Zealand in November.
The Executive Committee has therefore advised its treasurer Nuski Mohammed to negotiate a refinancing facility with the state bank to ease their burden in an extremely difficult financial year ahead.
Meanwhile, the government has indicated that it would bear the construction costs of the three-stadia, R. Premadasa, Pallekele and Hambantota which amounts to a staggering Rs. 3.2 billion.
For the 2011 Cricket World Cup, Sri Lanka took up a major infra-structure drive, building two new venues and refurbishing one to host the matches in Sri Lanka.
Meanwhile Sri Lanka Cricket will incur a loss of Rs. 84 million from the current series against Bangladesh.
Sri Lanka is currently hosting Bangladesh for two Tests, three ODIs and one T20 match and the tour would only generate a forecasted income of Rs. 31 million as opposed to the expenditure estimated at a staggering Rs. 115 million.
by Champika Fernando
http://www.thepapare.com/index.php/sports/cricket/australian-tour-of-sri-lanka-2011/697-sri-lanka-vs-australia-hot-a-spicy-competition
» CCS.N0000 ( Ceylon Cold Stores)
» Sri Lanka plans to allow tourists from August, no mandatory quarantine
» When Will It Be Safe To Invest In The Stock Market Again?
» Dividend Announcements
» MAINTENANCE NOTICE / නඩත්තු දැනුම්දීම
» ඩොලර් මිලියනයක මුදල් සම්මානයක් සහ “ෆීල්ඩ්ස් පදක්කම” පිළිගැනීම ප්රතික්ෂේප කළ ගණිතඥයා
» SEYB.N0000 (Seylan Bank PLC)
» Here's what blind prophet Baba Vanga predicted for 2016 and beyond: It's not good
» The Korean Way !
» In the Meantime Within Our Shores!
» What is Known as Dementia?
» SRI LANKA TELECOM PLC (SLTL.N0000)
» THE LANKA HOSPITALS CORPORATION PLC (LHCL.N0000)
» Equinox ( වසන්ත විෂුවය ) !
» COMB.N0000 (Commercial Bank of Ceylon PLC)
» REXP.N0000 (Richard Pieris Exports PLC)
» RICH.N0000 (Richard Pieris and Company PLC)
» Do You Have Computer Vision Syndrome?
» LAXAPANA BATTERIES PLC (LITE.N0000)
» What a Bank Run ?
» 104 Technical trading experiments by HUNTER
» GLAS.N0000 (Piramal Glass Ceylon PLC)
» Cboe Volatility Index
» AHPL.N0000
» TJL.N0000 (Tee Jey Lanka PLC.)
» CTBL.N0000 ( CEYLON TEA BROKERS PLC)
» COMMERCIAL DEVELOPMENT COMPANY PLC (COMD. N.0000))
» Bitcoin and Cryptocurrency
» CSD.N0000 (Seylan Developments PLC)
» PLC.N0000 (People's Leasing and Finance PLC)
» Bakery Products ?
» NTB.N0000 (Nations Trust Bank PLC)
» Going South
» When Seagulls Follow the Trawler
» Re-activating
» අපි තමයි හොඳටම කරේ !
» මේ අර් බුධය කිසිසේත්ම මා විසින් නිර්මාණය කල එකක් නොවේ
» SAMP.N0000 (Sampath Bank PLC)
» APLA.N0000 (ACL Plastics PLC)
» AVOID FALLING INTO ALLURING WEEKEND FAMILY PACKAGES.
» Banks, Finance & Insurance Sector Chart
» VPEL.N0000 (Vallibel Power Erathna PLC)
» DEADLY COCKTAIL OF ISLAND MENTALITY AND PARANOID PERSONALITY DISORDER MIX.
» WATA - Watawala
» KFP.N0000(Keels Food Products PLC)
» Capital Trust Broker in difficulty?
» IS PIRATING INTELLECTUAL PROPERTY A BOON OR BANE?
» What Industry Would You Choose to Focus?
» Should I Stick Around, or Should I Follow Others' Lead?