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Dimantha Mathew, Head of Research at First Capital commenting on the bond and share market performance – 18.09.2019

Treasury Bills and Bonds in Sri Lanka

Dimantha Mathew, Head of Research at First Capital commenting on the bond and share market performance   #CSE #CBSL #lka

First Capital is an investment bank providing a full range of financial advisory and services. The Company’s research deliver heightened perspective in fundamental research aiding Share Market Investment in Sri Lanka. The Company’s best-in-class research team provide dynamic reports including economic reviews and proprietary research, encompassing fundamental, quantitative and technical analysis. With fundamental research coverage of 62 listed securities (reflecting approximately 65% market capitalization) across 15 sectors in Share Market Investment in Sri Lanka.

First Capital Holdings PLC is an investment bank and is the pioneer non-bank affiliated Primary Dealer in Treasury Bills and Bonds in Sri Lanka. With a track record of over 25 years, the Company was the first licensed primary dealer appointed by the Central Bank, and is also the only listed and rated primary dealer in Treasury Bills and Bonds in Sri Lanka.

First Capital delivers the only source for fixed income research in the local financial services industry. The Company’s best-in-class research team provide dynamic reports including economic reviews and proprietary research, encompassing fundamental, quantitative and technical analysis

Private sector renews call for stability and policy consistency from next political leadership

First Capital Holdings Director/CEO Dilshan Wirasekara presenting his views at the panel while (from left)  Oxford Business Group Regional Editor for Asia Patrick Cooke, Dialog Axiata Chief of Digital and Commerce Nushad Perera (second  from right), Colombo International Container Terminals CEO Jack Huang, and  Stax Inc. Managing Director Ruwindhu Peiris look on

Notes that politicians have failed to execute and that task needs to be assigned to bureaucrats and technocrats

Says regulatory frameworks and legislations should be reviewed, particularly concerning data privacy

 

By Shabiya Ali Ahlam

Sri Lanka’s private sector, which has been repeatedly affected in recent times due to lack of stability in the operating environment, presented their ‘wish list’ for the next political leadership yesterday, ahead of the next presidential election, which is due by end of this year.

 
As policy measures had frequently come under harsh criticism in the recent past, private sector representatives across diverse sectors called for significant efforts to rectify the situation from the future political leadership. Speaking at a roundtable discussion moderated by Oxford Business Group (OBG) Regional Editor for Asia Patrick Cooke, First Capital Holdings Director/CEO Dilshan Wirasekara, Stax Inc. Managing Director Ruwindhu Peiris, Colombo International Container Terminals (CICT) CEO Jack Huang, and Dialog Axiata Chief of Digital and Commerce Nushad Perera pointed out that policy consistency and swift implementation of policies remain key to creating a conducive business environment.

 

What we want is policy consistency and it must be ensured that it is carried forward. What is required is also execution of policies and action plans,” stressed Wirasekara deliberating the discussion themed ‘How can Sri Lanka enhance competitiveness in the age of disruption?’
“This government has failed to execute. We need to take such responsibilities away from the politicians and give them to bureaucrats and technocrats. If we can manage that, we can make this country a much better place to live in,” he added. A key issue that is acknowledged as a major deterrent to progress across industries was Sri Lanka’s archaic laws.
Dialog Axiata Chief of Digital and Commerce Nushad Perera stressed that going forward all regulatory frameworks and legislations need to be “relooked at”, especially in the area of data privacy.

 
“We are living in a modern world, but the data privacy regulation is ancient,” he pointed out. Meanwhile, CICT CEO Jack Huang stressed that it is wise not to expect much from the government, regardless of the regime, and capitalise on the policies that are already available.

 
“We always have big expectations, instead why don’t we use what is available. The Colombo and Hambantota ports being free port is one example. The issue is that not many know what is made available for them. The government is not promoting it. So, make the most of what is available there,” opined Huang. Stax Inc. Managing Director Ruwindhu Peiris said, “The world cannot be at a better time right now. Data indicates that it is the best time in the history of humanity.”

 
Stating that a little can be done to the political climate that has direct implications on the operating environment of the economy, he quipped that politicians need to manage their greed and enjoy it while they can.
“I am aware that those who are in power will not know what we are talking about. And that is because their relevance is going to expire very fast,” he expressed.

 
The OBG in their 2019 Country Report on Sri Lanka highlighted that political tensions that surfaced in the latter part of 2018 slowed down the momentum of Sri Lanka’s economy, weakening the gains made earlier that year.

 
Despite the challenges that lay ahead, OBG stated that Sri Lanka is on track to achieving fiscal consolidation and improving economic outlook under International Monetary Fund (IMF) guidance.

First Capital Research June 2019 quarter earnings down by 10.4%

Daily Mirror | 10 Sept 2019 

First Capital Research’s June 2019 quarter recurring earnings dropped by 10.4%YoY for 271 companies. On a recurring basis June 2019 quarter earnings plunged by 10.4%YoY as subdued performance in banking (-20%YoY), consumer services (-92%YoY) and telecommunications (-27%YoY) sectors negated the positive performance of food, beverage and tobacco (+121%YoY) and diversified financials (+35%YoY) sectors.

However, total earnings for the quarter registered a growth of +18%, as earnings was augmented by one off gain witnessed in Browns Investments (BIL) and LOLC mounting the food, beverage and tobacco and diversified financial sector earnings.

The one off gain made in food, beverage and tobacco, diversified financials and insurance sectors outweighed the overall subdued performance witnessed in the economy. Food, beverage and tobacco sector earnings registered a noteworthy growth of +121%YoY to Rs 21.9 bn primarily owing to BIL. Bargain purchase owing to negative goodwill led to Rs 13.5 bn gain in BIL bolstering earnings to Rs 13 bn (+2283%YoY) as opposed to Rs 596. mn loss in comparative previous year. Diversified Financial sector earnings registered a +35%YoY growth to Rs 12.8 bn supported by LOLC. LOLC recorded a gain of Rs 5.2 bn resultant from acquisition and divestment of group’s investments pushing the earnings to register a +190%YoY growth to Rs 7.5 bn as opposed to Rs 2.6 bn in comparative same period.

 First Capital is an investment bank offering services as Stock Brokers in Sri Lanka. The Company acts as a conduit between retail and institutional clients and the secondary market of the Colombo Stock Exchange. First Capital’s best-in-class research team provide a series of actionable trade recommendations, daily and periodic market commentaries and publications for Stock Brokers in Sri Lanka

First Capital is an investment bank providing a full range of financial advisory and services. The Company’s research deliver heightened perspective in fundamental research aiding Share Market Investment in Sri Lanka. The Company’s best-in-class research team provide dynamic reports including economic reviews and proprietary research, encompassing fundamental, quantitative and technical analysis. With fundamental research coverage of 62 listed securities (reflecting approximately 65% market capitalization) across 15 sectors in Share Market Investment in Sri Lanka.

Hiruni Perera, Senior Research Analyst at First Capital commenting on the bond and share market performance – 16.09.2019

Stock Brokers in Sri lanka

“In the bond market yield curve remained broadly unchanged during the day while overall market witnessed limited activities with low volumes. Share market ended in green for the second straight session on the gains made by MELS and BUKI…..” Hiruni Perera , Senior Research Analyst at First Capital commenting on the bond and share market performance  #CSE #CBSL  #lka

Hiruni Perera, at First Capital on the bond and share market performance – 16.09.2019

First Capital is an investment bank providing a full range of financial advisory and services. The Company’s research deliver heightened perspective in fundamental research aiding Share Market Investment in Sri Lanka. The Company’s best-in-class research team provide dynamic reports including economic reviews and proprietary research, encompassing fundamental, quantitative and technical analysis. With fundamental research coverage of 62 listed securities (reflecting approximately 65% market capitalization) across 15 sectors in Share Market Investment in Sri Lanka.

First Capital Holdings PLC is an investment bank and is the pioneer non-bank affiliated Primary Dealer in Treasury Bills and Bonds in Sri Lanka. With a track record of over 25 years, the Company was the first licensed primary dealer appointed by the Central Bank, and is also the only listed and rated primary dealer in Treasury Bills and Bonds in Sri Lanka.

First Capital delivers the only source for fixed income research in the local financial services industry. The Company’s best-in-class research team provide dynamic reports including economic reviews and proprietary research, encompassing fundamental, quantitative and technical analysis.

 

Dimantha Mathew, Head of Research at First Capital commenting on the bond and equity market performance – 11.09.2019

Sharemarket in Sri Lanka

Dimantha Mathew, Head of Research at First Capital commenting on the bond and equity market performance  #CSE #CBSL #lka.

First Capital is an investment bank providing a full range of financial advisory and services. The Company’s research deliver heightened perspective in fundamental research aiding Share Market Investment in Sri Lanka. The Company’s best-in-class research team provide dynamic reports including economic reviews and proprietary research, encompassing fundamental, quantitative and technical analysis. With fundamental research coverage of 62 listed securities (reflecting approximately 65% market capitalization) across 15 sectors in Share Market Investment in Sri Lanka.

First Capital Holdings PLC is an investment bank and is the pioneer non-bank affiliated Primary Dealer in Treasury Bills and Bonds in Sri Lanka. With a track record of over 25 years, the Company was the first licensed primary dealer appointed by the Central Bank, and is also the only listed and rated primary dealer in Treasury Bills and Bonds in Sri Lanka.
First Capital delivers the only source for fixed income research in the local financial services industry. The Company’s best-in-class research team provide dynamic reports including economic reviews and proprietary research, encompassing fundamental, quantitative and technical analysis.

Amanda Lokugamage, Senior Research Analyst at First Capital commenting on the bond and equity market performance – 09.09. 2019

Investment in Sri Lanka

Amanda Lokugamage, Senior Research Analyst at First Capital commenting on the bond and  equity market performance

First Capital is an investment bank providing a full range of financial advisory and services. The Company’s research deliver heightened perspective in fundamental research aiding Share Market Investment in Sri Lanka. The Company’s best-in-class research team provide dynamic reports including economic reviews and proprietary research, encompassing fundamental, quantitative and technical analysis. With fundamental research coverage of 62 listed securities (reflecting approximately 65% market capitalization) across 15 sectors in Share Market Investment in Sri Lanka.

First Capital Holdings PLC is an investment bank and is the pioneer non-bank affiliated Primary Dealer in Treasury Bills and Bonds in Sri Lanka. With a track record of over 25 years, the Company was the first licensed primary dealer appointed by the Central Bank, and is also the only listed and rated primary dealer in Treasury Bills and Bonds in Sri Lanka.
First Capital delivers the only source for fixed income research in the local financial services industry. The Company’s best-in-class research team provide dynamic reports including economic reviews and proprietary research, encompassing fundamental, quantitative and technical analysis.

Atchuthan Srirangan, Assistant Manager – Research at First Capital commenting on the bond and equity market forecast – 08.09.2019

“We expect bond yields to be volatile during the coming week with selling pressure in the foreign side continuing amidst lower level of local buying. Equity market to be weak in the upcoming week as well with the market correction with the weak investor sentiment….………”

Atchuthan Srirangan , Assistant Manager – Research at First Capital commenting on the bond and equity market forecast – 08.09.2019 

First Capital is an investment bank offering services as Stock Brokers in Sri Lanka. The Company acts as a conduit between retail and institutional clients and the secondary market of the Colombo Stock Exchange. First Capital’s best-in-class research team provide a series of actionable trade recommendations, daily and periodic market commentaries and publications for Stock Brokers in Sri Lanka.

First Capital Holdings PLC is an investment bank and is the pioneer non-bank affiliated Primary Dealer in Treasury Bills and Bonds in Sri Lanka. With a track record of over 25 years, the Company was the first licensed primary dealer appointed by the Central Bank, and is also the only listed and rated primary dealer in Treasury Bills and Bonds in Sri Lanka.
First Capital delivers the only source for fixed income research in the local financial services industry. The Company’s best-in-class research team provide dynamic reports including economic reviews and proprietary research, encompassing fundamental, quantitative and technical analysis.

 

Dimantha Mathew, Head of Research at First Capital commenting on the bond and equity market performance – 02.09.2019

Sharemarket Investment in Sri Lanka

Dimantha Mathew, Head of Research at First Capital commenting on the bond and equity market performance – 02.09.2019 #CSE #CBSL #lka.

First Capital is an investment bank offering services as Stock Brokers in Sri Lanka. The Company acts as a conduit between retail and institutional clients and the secondary market of the Colombo Stock Exchange. First Capital’s best-in-class research team provide a series of actionable trade recommendations, daily and periodic market commentaries and publications for Stock Brokers in Sri Lanka.

First Capital Holdings PLC is an investment bank and is the pioneer non-bank affiliated Primary Dealer in Treasury Bills and Bonds in Sri Lanka. With a track record of over 25 years, the Company was the first licensed primary dealer appointed by the Central Bank, and is also the only listed and rated primary dealer in Treasury Bills and Bonds in Sri Lanka
First Capital delivers the only source for fixed income research in the local financial services industry. The Company’s best-in-class research team provide dynamic reports including economic reviews and proprietary research, encompassing fundamental, quantitative and technical analysis.

Atchuthan Srirangan, Assistant Manager – Research at First Capital commenting on the bond and equity market performance – 28.08.2019

Invest in Sri Lanka

Atchuthan Srirangan, Assistant Manager – Research at First Capital commenting on the bond and equity market performance

First Capital is an investment bank offering services as Stock Brokers in Sri Lanka. The Company acts as a conduit between retail and institutional clients and the secondary market of the Colombo Stock Exchange. First Capital’s best-in-class research team provide a series of actionable trade recommendations, daily and periodic market commentaries and publications for Stock Brokers in Sri Lanka.

First Capital Holdings PLC is an investment bank and is the pioneer non-bank affiliated Primary Dealer in Treasury Bills and Bonds in Sri Lanka. With a track record of over 25 years, the Company was the first licensed primary dealer appointed by the Central Bank, and is also the only listed and rated primary dealer in Treasury Bills and Bonds in Sri Lanka
First Capital delivers the only source for fixed income research in the local financial services industry. The Company’s best-in-class research team provide dynamic reports including economic reviews and proprietary research, encompassing fundamental, quantitative and technical analysis.

Atchuthan Srirangan, Assistant Manager – Research at First Capital commenting on the bond and equity market performance – 26.08.2019

Treasury Bills and Bonds Sri Lanka

“With the commencement of the week, the secondary market yield curve remained broadly unchanged with limited activities and low volumes. Stock market retained the apathetic trading sentiment for the fourth trading session dragged down by HHL and BUKI……………”

Atchuthan Srirangan, Assistant Manager – Research at First Capital commenting on the bond and equity market. 

First Capital is an investment bank offering services as Stock Brokers in Sri Lanka. The Company acts as a conduit between retail and institutional clients and the secondary market of the Colombo Stock Exchange. First Capital’s best-in-class research team provide a series of actionable trade recommendations, daily and periodic market commentaries and publications for Stock Brokers in Sri Lanka.

First Capital Holdings PLC is an investment bank and is the pioneer non-bank affiliated Primary Dealer in Treasury Bills and Bonds in Sri Lanka. With a track record of over 25 years, the Company was the first licensed primary dealer appointed by the Central Bank, and is also the only listed and rated primary dealer in Treasury Bills and Bonds in Sri Lanka
First Capital delivers the only source for fixed income research in the local financial services industry. The Company’s best-in-class research team provide dynamic reports including economic reviews and proprietary research, encompassing fundamental, quantitative and technical analysis.