“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.