Sri Lanka Stock Picks

Sri Lanka stock picks site has been developed to give first hand information with regard to share trading opportunities available for investors who do not like go through lengthy research reports, calculations,etc but to have a clear idea about stocks that have future up side potential.Our service is just not for day traders but for the investors who wish to see their money growing in the long run.Our main objective is to provide information relating to trading under one roof.

Tuesday, August 2, 2011

ECL Soft to be positioned as ECL Group’s holding arm

ECL Soft (Pvt0 Ltd, a subsidiary of E-Channelling PLC (ECL) will soon be repositioned as the holding company of diversified group of E-Channelling, Director of ECL Ruwan Silva told Mirror Business.

Commenting on the latest disclosure by ECL on its decision to invest Rs.150 million in ECL Soft (Pvt) Ltd, Silva noted that the subsidiary will be later positioned as the holding company of ECL group with another targeted capital infusion of Rs.600 million to Rs.1 billion within the next couple of months.

“The ownership of E-Channelling will also be restructured and it will be under an investment arm set up by “ECL Soft”, Silva said adding company will raise the capital from international partners or investors.

In a disclosure to Colombo Stock Exchange yesterday, ECL said its current subsidiary, ECL Soft would expand in to Leisure, Consulting and Training, Media and Advertising, Financial Services, Global Network of the ECL Group and Business Process Outsourcing sectors.

Silva explained that ECL Soft would expand in to the leisure sector with 4 key projects including a development of a web portal that will enable hotel reservations, hotel management software for small hotels, and a fully integrated hotel management software.

“In phase four, we will construct a star-class hotel in Colombo and another one in an ideal tourism attraction zone,” he said.

He also said that after the restructuring of the E-Channelling group in which the ECL-Soft will eventually become the holding company , the group will look in to possibilities to list ECL Soft (PVt) Ltd in the Colombo Stock Exchange.

Earlier in May, E-Channelling (ECL) in a filing to the stock exchange said, the company has set up a joint venture under the name of ECL Soft Private Ltd with its partner Software Distributions Ltd incorporated in United Kingdom. During that time, the statements further noted that the new venture has been established to engage in Non-healthcare software development, knowledge process outsourcing, BPO, consulting and global marketing of the company’s products. (JA)

source - www.dailymirror.lk