Tiruchelvam Associates

FAQ on the Revival of Underperforming Enterprises and Underutilized Assets Act

admin — Mon, 05 Dec 2011 02:44:32 +0000

A short Q&A highlighting the primary considerations of the recently passed Revival of Underperforming Enterprises and Underutilized Assets Act.

Foreign Investment in Shares

admin — Wed, 19 Oct 2011 10:46:09 +0000

A guide on the procedures for non-citizens investing in both private and public equity in Sri Lanka; including shareholding restrictions and banking regulations on Securities Investment Accounts.

Guide to Investing in Sri Lanka

admin — Wed, 19 Oct 2011 10:42:42 +0000

A brief summary of the regulatory framework governing foreign investment in Sri Lanka; including company registration, BOI regulations, property ownership and investment restrictions.

Foreign Loans for Local Entrepreneurs

admin — Wed, 19 Oct 2011 08:44:06 +0000

Guidelines for locally registered companies interested in obtaining loans from foreign sources for projects which contribute to the economic development in Sri Lanka.

Sri Lanka-Vietnam target USD 1 Bn. in Trade

admin — Wed, 19 Oct 2011 08:00:27 +0000

Sri Lanka and Vietnam signed eight agreements during President Mahinda Rajapakse’s visit to Vietnam. The agreements include co-operation on oil exploration and a deal to purchase diesel.

Source: Lanka Business Online – 15 October 2011

SEC Moots New Rules for Private Placements

admin — Wed, 19 Oct 2011 07:58:45 +0000

The Securities and Exchange Commission has called for public comments on draft rules on private placements by November 15, 2011. The draft rules come after heavy criticism of some recent private placements by firms listed on the Colombo stock exchange.

Source: Lanka Business Online – 05 October 2011

Cairn Lanka Announces Natural Gas Discovery

admin — Wed, 19 Oct 2011 07:54:07 +0000

Cairn Lanka (Pvt) Limited, a wholly owned subsidiary of Cairn India Limited, has notified the appropriate authorities in the Government of Sri Lanka of a Gas Discovery in the CLPL- Dorado-91H/1z well, drilled in a water depth of 1354m, located in the block SL 2007-01-001, Mannar Basin, Sri Lanka. Cairn Lanka (Pvt) Limited is the Operator and has a 100% participating interest in the block.

Source: Cairn India Press Release

SL Government Plans Land Audit

admin — Wed, 19 Oct 2011 07:10:15 +0000

The Government is planning a comprehensive audit of the country‘s public and privately held land assets. The public sector property audit will be conducted under the first phase of this initiative. State ownership of land is estimated to be around 80% of the total land area of 6,561,000 hectares. State land is under the management of different government departments, local authorities and statuary organizations.

Source: Sunday Times – 16 October 2011