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SINHAPUTHRA FINANCE PLC (SFL.N0000) EmptyToday at 8:13 pm by Lee Goh

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SINHAPUTHRA FINANCE PLC (SFL.N0000) EmptyYesterday at 6:41 pm by soileconomy

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SINHAPUTHRA FINANCE PLC (SFL.N0000) EmptySun Dec 08, 2019 11:07 pm by spw19721

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SINHAPUTHRA FINANCE PLC (SFL.N0000) EmptyFri Dec 06, 2019 11:33 pm by Backstage

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SINHAPUTHRA FINANCE PLC (SFL.N0000) EmptyThu Dec 05, 2019 9:26 pm by The Invisible

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» සිමෙන්ති මිල පහළට
SINHAPUTHRA FINANCE PLC (SFL.N0000) EmptyWed Dec 04, 2019 7:05 pm by nihal123

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SINHAPUTHRA FINANCE PLC (SFL.N0000) EmptyWed Dec 04, 2019 10:37 am by කිත්සිරි ද සිල්වා

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SINHAPUTHRA FINANCE PLC (SFL.N0000) EmptyMon Nov 25, 2019 8:12 pm by ruwan326

» Technology~විද්‍යාව ~ Wisdom
SINHAPUTHRA FINANCE PLC (SFL.N0000) EmptyMon Nov 25, 2019 8:36 am by ruwan326

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SINHAPUTHRA FINANCE PLC (SFL.N0000) EmptyWed Nov 20, 2019 11:03 pm by nesta

» භාරකාර ආණ්ඩුවක් හෙට
SINHAPUTHRA FINANCE PLC (SFL.N0000) EmptyWed Nov 20, 2019 7:19 pm by nihal123

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SINHAPUTHRA FINANCE PLC (SFL.N0000) EmptyWed Nov 20, 2019 9:28 am by ruwan326

» මගේ කියවීම ...
SINHAPUTHRA FINANCE PLC (SFL.N0000) EmptyWed Nov 20, 2019 8:28 am by yellow knife

» How the silence on this !
SINHAPUTHRA FINANCE PLC (SFL.N0000) EmptyTue Nov 19, 2019 5:40 pm by Backstage

» ප්‍රතිඵලේ මොකක් උනත් ජ්යෝතිෂය සත්‍ය වෙන හැටි දැක්කද?
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» ඇයි අප්සට් ද?
SINHAPUTHRA FINANCE PLC (SFL.N0000) EmptySat Nov 16, 2019 4:57 pm by chutiputha

» ගෝඨාට ඉල්ලන්න බෑලු
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SINHAPUTHRA FINANCE PLC (SFL.N0000) EmptyFri Nov 15, 2019 1:54 pm by nihal123

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SINHAPUTHRA FINANCE PLC (SFL.N0000)

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SINHAPUTHRA FINANCE PLC (SFL.N0000) Empty SINHAPUTHRA FINANCE PLC (SFL.N0000)

Post by yellow knife on Thu Sep 22, 2016 3:43 pm

This is a finance company where 25.65% of it belongs to Bimputh Finance PLC.

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SINHAPUTHRA FINANCE PLC (SFL.N0000) Empty Re: SINHAPUTHRA FINANCE PLC (SFL.N0000)

Post by yellow knife on Thu Sep 22, 2016 3:45 pm

Shares were subdivided in a proportion of 10 for 1 in 2015

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Post by yellow knife on Thu Sep 22, 2016 3:46 pm

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SINHAPUTHRA FINANCE PLC (SFL.N0000) Empty Re: SINHAPUTHRA FINANCE PLC (SFL.N0000)

Post by yellow knife on Thu Sep 22, 2016 3:48 pm

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SINHAPUTHRA FINANCE PLC (SFL.N0000) Empty Re: SINHAPUTHRA FINANCE PLC (SFL.N0000)

Post by spw19721 on Thu Sep 22, 2016 5:34 pm

Thanks Yk, Do you have any idea about the sudden movement ?
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SINHAPUTHRA FINANCE PLC (SFL.N0000) Empty Re: SINHAPUTHRA FINANCE PLC (SFL.N0000)

Post by ruwan326 on Fri Nov 22, 2019 12:11 pm

ඊයේ කළු සුද්දෝ එකතුකරනකොට මන් හිතුවා "ගොනා හැරෙන්නේ SFL එකට කියලා "

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SINHAPUTHRA FINANCE PLC (SFL.N0000) Empty Re: SINHAPUTHRA FINANCE PLC (SFL.N0000)

Post by The Invisible on Thu Dec 05, 2019 9:26 pm

Singhe Capital Investment buys control of Sri Lanka’s Sinhaputhra Finance



ECONOMYNEXT- Singhe Capital Investment (Pvt) Ltd, an investment firm led by a consortium of individual investors had bought control of Sinhaputra Finance Limited with the intention of injecting fresh capital into the troubled finance company, persons familiar with the deal said.

The sale was part of a capital infusion strategy that had been in negotiation for some time, a company official said.

The deal was structured by NDB Investment Bank.

Managing Director/Chief Executive Ravana Wijeyeratne was the seller, disposing his entire stake of 50.36 percent in Sinhaputhra Finance at 9.50 rupees a share in a negotiated deal.

A mandatory offer is expected to made shortly to buy out minority shareholders according to Sri Lanka’s listing rules.

Some of the investors in the consortium had also backed the purchase of City Finance, another small finance company, market sources said.

The central bank had issued notice to cancel the license of Sinhaputhra Finance in July, and the company, along with the group of new investors had submitted plans for the capital infusion strategy in July and August, the firm said in its annual report.

The central bank had accepted the strategy in September and decided not to proceed with the cancellation of license.

The firm had said that the new investors would infuse another 2.23 billion rupees in stages through rights issues and internally generated eligible reserves.

Sinhaputhra Finance accounts showed that it core capital adequacy ratio was 1.02 percent at end-September, down from 1.76 percent six months earlier, against a regulatory requirement of 7 percent.



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The capital adequacy ratio had eroded to 1.28 percent in September from 5.88 percent six months earlier against a required 11 percent.

The firm had 24.48 percent in bad loans, up from 21.25 percent, while the non-banking finance industry average was 9.69 percent.

Bad loans have been rising sharply among Sri Lankan banks and finance firms in the wake of two currency collapses in quick succession.

Sinhaputhra Finance posted 12.6 million rupees in profits for the September quarter, up from 10.4 million rupees a year earlier, although the firm had 156.4 million rupees in retained losses. (Colombo/Dec04/2019)
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