Internet and telecommunications service provider, Lanka Internet Services Ltd has gone bankrupt and unceremoniously disappeared into thin air with senior management of the company jumping ship and unable to be located.
Hatton National Bank (HNB), is exploring its options of entering India in the near future while also eyeing the region, South East Asia, emerging East Asia and some parts of North Africa.
The Sri Lanka Accounting and Auditing Standards Monitoring Board (SLAASMB), after launching an investigation into the financial statements of Touchwood Investments Ltd, has 'determined that the estimates of fair value of biological assets used by Touchwood Investments Ltd in its financial statements for the years ended 31 March 2005 and 31 March 2006 are clearly unreliable.'
