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The Report Sri Lanka 2016: Signaling Opportunities Emerging for Global Investors

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In a pursuit of much desired international investor attention to Sri Lanka, ‘The Report: Sri Lanka 2016,’ the first independently produced economic analysis of the Sri Lankan economy providing a vital guide to many facets of the country, including its macroeconomics, infrastructure, banking, capital markets and other sectoral developments was launched on 01st August 2016.

The Publication was developed by global publishing, research and consultancy firm Oxford Business Group (OBG) in association with the Board of Investments Sri Lanka (BOI).

Capital Markets Partner for The Report Sri Lanka 2016, First Capital Holdings PLC shared valuable insights and expertise to support the landmark publication, set to position Sri Lanka as a recognised high growth frontier market.

First Capital’s research unit was the key entity contributing an unbiased and comprehensive review to the Capital Markets Analysis presenting case studies on six top counters traded at the Colombo Stock Exchange.

“We are pleased to have supported the OBG team in producing what I’m sure will be received as a valuable research tool for those keen to learn more about what Sri Lanka has to offer” said Dilshan Wirasekara, Group CEO of First Capital Holdings PLC. “We believe the publication would play a pivotal part in bringing the international investment community up to date on Sri Lanka’s post-war economic development”.

“The heightened activity that has been a hallmark of the Colombo Stock Exchange reflects the changing face of Sri Lanka’s economy, while also signaling the opportunities that are emerging for investors across the sectors,” he said.

OBG’s Senior Country Director, Brooke Butler, said she was delighted to have First Capital Holdings PLC on board for its first report on Sri Lanka. “As a longstanding industry player, First Capital Holdings PLC has an in-depth understanding of Sri Lanka’s markets and how they are evolving,” she said. “The team’s input has given our coverage of this important emerging economy an edge.”

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About First Capital Holdings PLC

First Capital Holdings PLC is a full service investment bank providing a diverse range of advisory services and financial products. Our integrated business platform comprises four specialised areas – Capital Markets Advisory, Wealth Management, Fixed Income and Equities.

As a company listed on the Colombo Stock Exchange (CSE) since 1994 (Ticker: CFVF), we exemplify requisite financial transparency and governance standards.

Reflecting credit fundamentals including a robust capital structure, liquidity, risk controls and an earnings profile, we are rated A- by ICRA Lanka.

We operate throughout Sri Lanka via offices in Colombo, Kandy, Matara and Kurunegala. Our global outreach continues to expand through institutional trading and investment product placement.

About Oxford Business Group

Oxford Business Group (OBG) is a global publishing, research and consultancy firm, which publishes economic intelligence on 37 markets across Asia, the Middle East, Africa and The Americas. Through its range of print and online products, OBG offers comprehensive and accurate analysis of macroeconomic and sectoral developments, including banking, capital markets, insurance, energy, transport, industry and telecoms. The Report: Sri Lanka 2016 was produced in partnership with First Capital Holdings and Board of Investment (BOI) Sri Lanka.

The critically acclaimed economic and business reports have become the leading source of business intelligence on developing countries in the regions they cover. OBG’s online economic briefings provide up-to-date in-depth analysis on the issues that matter for tens of thousands of subscribers worldwide. OBG’s consultancy arm offers tailor-made market intelligence and advice to firms currently operating in these markets and those looking to enter them.

Sri Lanka Investment

Sri Lanka Economic Summit 2016: Strategic Sponsor First Capital

First Capital Holdings PLC is pleased to have partnered the Ceylon Chamber of Commerce for the Sri Lanka Economic Summit 2016 with the participation of President Maithripala Sirisena. It is the third consecutive year that the company has chosen to support the summit as Strategic Sponsor.

The sponsorship is part of First Capital’s ongoing commitment to support high-impact economic events of national importance. The Company is confident that forms such as the Sri Lanka Economic Summit allow for sustainable economic development in the isl
and through multidimensional assessment and collaboration.

Through its course of 17 annual gatherings, the Sri Lanka Economic Summit has attempted to analyses and discover how contemporary policies and economic situation affects the market and the local business environment. Themed ‘Focus. Act. Deliver’ the summit held on 2nd and 3rd of August attracted over 500 top corporate and public sector senior level executives to converse and deliberate on Sri Lanka’s unrealized economic potential.

The summit saw the successful completion of seven strategic discussions sessions covering areas such as how to accelerate Sri Lanka’s growth levels, private and public partnerships, tourism, international trade and logistics, talent pool growth, commercial agriculture and the country’s ailing public enterprises.

The first session of the event ‘Accelerating Growth, Pushing for Performance.’ was patronized by the President with the Finance Minister Ravi Karunanayake and the Central Bank Governor, Dr. Indrajith Coomaraswamy delivering keynote speeches. Followed by an insightful panel discussion with the participation of eminent resource persons, Idris Jala, CEO of Pemandu, Malaysia, Former Central Bank Deputy Governor W. A. Wijewardena and IPS Chairman Prof.Razeen Sally.

Furthermore, fifty high caliber resource persons both local and from overseas representing the public and the private sector were present to grasp direction and join into share insights focusing on how to move from issues to solutions, potential to performance and rhetoric to action.
Economic Summit 2016

“International Investor Perspective on Local Currency Solutions”

Colombo: A specialized and distinct seminar entitled “International Investor Perspective on Local Currency Solutions” was recently held at the Cinnamon Grand Hotel, Oak Room Colombo.  Jointly organized by Netherlands-based The Currency Exchange Fund (TCX), GuarantCo, FMO – the Dutch Development Bank, and Frontclear together with locally based investment bank First Capital Holdings PLC, the main focus of the event was to raising awareness among local Banks, NBFIs and Micro Finance Institutions about Foreign Currency Funding options and facilitating local participants to access funding from Development Financial Institutes (DFIs) and Foreign Investors.

First Capital Holdings PLC Group CEO Dilshan Wirasekara introducing GuarantCo Chief Investment Officer Lasitha Perera to the Keynote Speaker, Deputy Governor Dr. Nandalal Weerasinghe.  During the event GuarantCo revealed its ambitious plans to expand its markets to Sri Lanka by completing its first Rupee denominated project financing, to help extend the average tenor of corporate bonds from five to 10 years and also to have a Sri Lankan GuarantCo.
First Capital Holdings PLC Group CEO Dilshan Wirasekara introducing GuarantCo Chief Investment Officer Lasitha Perera to the Keynote Speaker, Deputy Governor Dr. Nandalal Weerasinghe. During the event GuarantCo revealed its ambitious plans to expand its markets to Sri Lanka by completing its first Rupee denominated project financing, to help extend the average tenor of corporate bonds from five to 10 years and also to have a Sri Lankan GuarantCo.

 

Delivering the Keynote Address Deputy Governor Dr. Nandalal Weerasinghe highlighting the demand for funding within the corporate sector, given the number of investment plans that had been given the green light since the end of the civil war and the need to facilitate a deeper corporate debt market to fulfil the additional funding needs faced by the Sri Lankan corporates. There is likely to be plenty of demand among insurance companies, provident funds and other institutional investors for higher yielding new financial instruments,” he stressed. The Deputy Governor said local currency solutions would mitigate the risk and generate cheaper funding with a minimum currency risk, while providing guidance on funding. Therefore instruments such as, hedging, credit guarantees, local currency bonds issued in the international market would help investors to find new methods and ways to finance their funding needs, he added.
Delivering the Keynote Address Deputy Governor Dr. Nandalal Weerasinghe highlighting the demand for funding within the corporate sector, given the number of investment plans that had been given the green light since the end of the civil war and the need to facilitate a deeper corporate debt market to fulfil the additional funding needs faced by the Sri Lankan corporates. There is likely to be plenty of demand among insurance companies, provident funds and other institutional investors for higher-yielding new financial instruments,” he stressed. The Deputy Governor said local currency solutions would mitigate the risk and generate cheaper funding with a minimum currency risk, while providing guidance on funding. Therefore instruments such as, hedging, credit guarantees, local currency bonds issued in the international market would help investors to find new methods and ways to finance their funding needs, he added.

 

Senior Vice President Jerome Pirouz drew attention to TCX’s role in Sri Lanka through supporting local currency inflows from offshore investors. He explained that the firm hedges the currency and interest rate mismatch which is created in cross-border investments between international investors and local market participants in frontier and less liquid emerging markets.
Senior Vice President Jerome Pirouz drew attention to TCX’s role in Sri Lanka through supporting local currency inflows from offshore investors. He explained that the firm hedges the currency and interest rate mismatch which is created in cross-border investments between international investors and local market participants in frontier and less liquid emerging markets.

 

Matthijs Pinxteren Director Treasury FMO, the Dutch Development Bank promoting private sector growth in more than 85 developing countries and emerging markets offering capital knowledge and networks presenting at the event reflected its roles in the Sri Lankan financial sector for the past three decades and the company’s intentions to expand their presence inline with the economic progression of the country.
Matthijs Pinxteren Director Treasury FMO, the Dutch Development Bank promoting private sector growth in more than 85 developing countries and emerging markets offering capital knowledge and networks presenting at the event reflected its roles in the Sri Lankan financial sector for the past three decades and the company’s intentions to expand their presence inline with the economic progression of the country.

 

Frontclear Senior Vice President Andrei Shinkevich addressing the gathering explained the role of Frontclear as a facilitatator providing access to financial markets for local institutions to local and global markets through the provision of  credit guarantees to cover their counterparty credit risk. Adding that the compnay provides technical assistance with product implementation and systemic constraints which are beneficial for emerging markets.
Frontclear Senior Vice President Andrei Shinkevich addressing the gathering explained the role of Frontclear as a facilitatator providing access to financial markets for local institutions to local and global markets through the provision of credit guarantees to cover their counterparty credit risk. Adding that the compnay provides technical assistance with product implementation and systemic constraints which are beneficial for emerging markets.

 

LCY Photo - 7Audience comprising of professionals representing the Banks, Non-Bank Financial Institutions and Micro Finance Institutions based in Sri Lanka.

Audience comprising of professionals representing the Banks, Non-Bank Financial Institutions and Micro Finance Institutions based in Sri Lanka.

 

LCY Photo - 8Panel discussion featured First Capital Holdings PLC Group CEO Dilshan Wirasekara, Moderator Nisthar Cassim, TCX Senior Vice President Jerome Pirouz, GuarantCo Chief Investment Officer Lasitha Perera, FMO Director Treasury Matthijs Pinxteren, Frontclear Senior Vice President Andrei Shinkevich and SBI Ven Capital Executive Vice President Arno De Vette.

Panel discussion featured First Capital Holdings PLC Group CEO Dilshan Wirasekara, Moderator Nisthar Cassim, TCX Senior Vice President Jerome Pirouz, GuarantCo Chief Investment Officer Lasitha Perera, FMO Director Treasury Matthijs Pinxteren, Frontclear Senior Vice President Andrei Shinkevich and SBI Ven Capital Executive Vice President Arno De Vette.