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.
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.
Audience comprising of professionals representing the Banks, Non-Bank Financial Institutions and Micro Finance Institutions based in Sri Lanka.
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.
Colombo, 17 May 2016 : Citizens Development Business Finance PLC (CDB), one of the leading Licensed Finance Companies in Sri Lanka announced its intention to issue Listed Rated Subordinated Guaranteed Redeemable Debentures worth LKR 1 billion.
The debenture issue has received [SL] ‘A-‘(SO) with Stable Outlook by ICRA Lanka Ltd., and the Rated 5 year debentures are guaranteed by Seylan Bank PLC. The issue opens for subscription on 27th May 2016 and will close in 14 days of its opening date unless oversubscribed before the closing date.
With a 10 million debentures at a face value of LKR. 100/- each. The issue will offer two types of 5-year debentures, Type A with a fixed rate of 12.75%p.a paid semi-annually and Type B with a floating rate of, the 6-month net Treasury Bill plus 1.5% paid semi-annually (the floating rate has a cap of 15% and a floor of 10%). Further enhancing the investors’ return is the tax concessions applicable to listed debentures.
CDB is a company rated [SL] ‘BBB’ with a stable outlook by ICRA Lanka Limited and is a licensed finance Company registered under the Finance Business Act No. 42 of 2011 and a Company registered under the Finance Leasing Act No. 56 of 2000. Also a Public Limited Company registered under the Companies Act No. 17 of 1982 and re-registered under the Companies Act No. 7 of 2007.
The main objective of the debenture issue is to raise funds for CDB to strengthen its Tier II Capital and grow its lending book.
First Capital Limited and Citizens Development Business Finance PLC will act as joint Mangers to the issue and is geared to handle queries regarding the debenture. The Prospectus and Application Form can be downloaded from www.cdb.lk | www.firstcapital.lk | www.cse.lk.