Finance and Leasing

First Capital Holdings PLC, a member of the Janashakthi Group, is pleased to announce key appointments to its Board of Directors, effective June 28, 2024. Veteran banker Rajendra Theagarajah has been appointed as the Chairman. Joining him are Inoshini Perera, Rachini Rajapaksa, and Dilendra Wimalasekere as new members of the Board. The appointment of Rajendra Theagarajah follows the distinguished tenure of Nishan Fernando, who served as Chairman. Additionally, these new appointments come after the retirement of long-standing Independent Non-Executive Director Chandana de Silva. These individuals have been instrumental on the Board, shaping the vision, providing leadership, and offering guidance that enabled the company’s evolution into a prominent corporate entity in Sri Lanka, marked ...

Janashakthi Insurance PLC, a member of the Janashakthi Group, announces the appointment of Dr. Gehan Gunatilleke as an Independent, Non-Executive Director to the Company’s Board of Directors, effective from 24th January 2024. Dr. Gehan Gunatilleke is an attorney-at-law and a founding partner of LexAG, a law firm based in Colombo. He has previously served as an advisor to Sri Lanka’s Ministry of Foreign Affairs, where he provided counsel on international treaty compliance and facilitated access to the European Union’s GSP+ trade concession scheme. Additionally, he has contributed to several legislative drafting committees in Sri Lanka. Currently, Dr. Gunatilleke holds positions as a Commissioner at the Human Rights Commission of Sri Lanka and as a post-doctoral Fellow at Pembroke Co...

First Capital Holdings PLC (the Group) announces its outstanding financial performance for the first quarter ended June 30, 2023. The Group reported an impressive Profit after Tax of Rs. 2.81 billion, marking a remarkable leap from Rs. 96 million recorded in the same period last year. Among the key divisions, the Primary Dealer segment demonstrated an exceptional growth trajectory, reporting a Profit after Tax of Rs. 2.73 billion for Q1 2023, compared to the previous year's figure of Rs. 409 million. This achievement can be attributed to a net interest income of Rs. 1.1 billion and a substantial trading gain of Rs. 2.1 billion from the sale of the government securities portfolio. In the prior year, the division reported a net interest income of Rs. 185 million and a trading gain of Rs....

Gulf Binance Co., Ltd., (“Gulf Binance”), a joint venture between Binance and Gulf Innova Co., Ltd. (“Gulf”) has been granted digital asset operator licenses by the Thailand Ministry of Finance through the Securities and Exchange Commission (“SEC”) in Thailand. Gulf Binance was established following a 2022 agreement between the two organizations to set up a digital asset exchange in Thailand. Having secured these licenses, Gulf Binance will be able to operate as a digital asset exchange and digital asset broker and is set to launch in Thailand in the fourth quarter of 2023. Since entering the agreement, Binance and Gulf have been working closely with regulators to ensure the formation of a compliant-first exchange, and the newly granted licenses demonstrate Gulf Binance’s commitmen...

By Leon Foong, Head of APAC, Binance The events in 2022 served to remind us of the importance of regulatory compliance when it comes to protecting users and maximizing user security and trust in the industry. As we move forward and usher in a new chapter of growth for the crypto industry, regulatory harmonization will play a fundamental role in driving adoption, protecting users, and facilitating innovation in the industry. Regulatory harmonization seeks the convergence of regulatory frameworks, placing a greater emphasis on the global alignment of policies and laws and thus reducing opportunities for regulatory arbitrage. As it stands, the disparities in virtual asset regulations across different jurisdictions is shedding light on the importance of policy harmonization across c...

Singer (Sri Lanka) PLC, the country’s premier consumer durables retailer was recently bestowed with the coveted “Retail Brand of the Year Sri Lanka 2021” award at the 11th Global Banking and Finance Review Awards-one of the most prominent events in the corporate awards calendar. Singer brought home this prestigious award for the second consecutive year, reiterating its resurgence in Sri Lanka’s retail sphere and affirming itself as the retail giant for a reason. Singer has been constantly featuring among the winners of top local and global awards events, further extending its winning run. The annual awards ceremony organized by the British based Global Banking and Finance Review Magazine is a highly sought-after awards event that seeks to recognize innovation, inspirational...