FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

LISTED COMPANIES

Submit Post


ADVERTISE
Poll

EXCHANGE RATE PREDICTION: 2022

 
 
 
 

View results

ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



Latest topics

» Misuse of government property by Royal Colombo Golf Club
by ChooBoy Today at 12:52 pm

» SL Cauvery and Mannar Basins Petroleum Resource Data Revealed
by samaritan Today at 12:00 pm

» Expolanka to continue its winning streak
by samaritan Today at 10:39 am

» Container shipping stocks routed
by target1 Yesterday at 1:32 pm

» Supply Chain Latest: Ocean Freight Rates Are Falling
by target1 Yesterday at 1:26 pm

» Turkish ship leaves Ukraine's Mariupol after grain talks with Moscow
by target1 Yesterday at 11:29 am

» This week's CBOT corn, soy freefalls hard to match in recent years
by target1 Yesterday at 9:57 am

» Positive news to boost market sentiment
by samaritan Yesterday at 9:52 am

» Maharaja at IMF meeting
by Maharaja Thu Jun 23, 2022 10:35 pm

» Why no power cuts in certain areas of Colombo?
by samaritan Thu Jun 23, 2022 5:44 pm

» India assures fullest support to Sri Lanka as a close friend
by samaritan Thu Jun 23, 2022 5:17 pm

» SINS, SAMP, COMB, PARQ, ALUMEX and AEL - are they good shares to start collecting now?
by surfjj Thu Jun 23, 2022 4:25 pm

» Learn how a fixed exchange rate system can be used to reduce inflation.
by target1 Thu Jun 23, 2022 3:35 pm

» Debt Crisis: Sri Lanka Vs Argentine
by CHRONICLE™ Thu Jun 23, 2022 8:17 am

» Sri Lanka in state of panic 1 month after sovereign default
by reyaz Tue Jun 21, 2022 5:23 pm

» Financial stability - we are at the crossroads.
by sheildskye Tue Jun 21, 2022 2:17 pm

» Shrinkflation: Is it ethical?
by sheildskye Tue Jun 21, 2022 2:05 pm

» Banking bullish billionaire Ishara expands footprint
by samaritan Tue Jun 21, 2022 10:58 am

» SL hopes to finalize a staff level program with IMF soon-RW
by samaritan Tue Jun 21, 2022 9:48 am

» Sri Lanka Stock Market heading toward ASPI 4500
by samaritan Tue Jun 21, 2022 9:29 am

EXPERT CHRONICLE™

MARKET CHAT


CHRONICLE™ ANALYTICS


ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

LATEST TWEETS

You are not connected. Please login or register

FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » CIC Holdings scales down operations

CIC Holdings scales down operations

Go down  Message [Page 1 of 1]

1CIC Holdings scales down operations  Empty CIC Holdings scales down operations Thu Jun 05, 2014 8:10 pm

Jayashantha

Jayashantha
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

The year under review was a watershed in the history of the company. Due to adversity faced, the Board decided to take drastic steps to re-invent the business and go back to basics in terms of a leaner and better governed structure, CIC Holdings Managing Director and CEO S.P.S Ranatunga told shareholders.

“Our Company had enjoyed many years of profitability relying predominantly on an agriculture related business model and organic growth in ancillary business areas.

The financial strain brought about in the agriculture sector due to unpredictable weather conditions and other policy related issues, made it abundantly clear that the company was placing itself at serious risk unless some hard business decisions were taken to re-engineer the business,” Ranatunga told shareholders.

The company sorely needed to chart a new course which would ensure that the company could quickly return to its traditional reputation of being a profitable venture built on solid fundamentals.

The Board of Directors having thoroughly considered and discussed the issues faced by the Company concluded that the Company needed a fundamental change in the business model. In order to facilitate a systematic constructive change process a firm of outside consultants was hired.

- See more at: http://www.dailynews.lk/?q=business/cic-holdings-scales-down-operations#sthash.iAc3hv13.dpuf

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum