Tag Archives: First Capital

Sri Lankan shares fall from near 2-wk high ahead of budget

First Capital’s Head of Research, Dimantha Mathew, speaks to Reuters Friday November 04, 2016

Sri Lankan shares fell on Friday from a near two-week high hit in the previous session as investors waited for cues from the national budget scheduled on Nov. 10.

The benchmark index of the Colombo Stock Exchange ended 0.11 percent weaker, or 6.92 points, at 6,435.17, slipping from its highest close since Oct. 21 hit on Thursday.

Turnover stood at 275.7 million rupees ($1.86 million), less than half of this year’s daily average of 718.9 million.

However, foreign investors bought beaten down stocks for a third straight session, picking up shares worth a net 90.6 million rupees. They have net sold 1.21 billion rupees worth of shares so far this year.

“The momentum was short lived,” said Dimantha Mathew, head of research at First Capital Equities (Pvt) Ltd. “Investors turned to wait-and-see approach again. They are awaiting direction from the budget.”

Shares in Nestle Lanka Plc fell 2.37 percent while Ceylon Tea Services Plc fell 9.20 percent.

Conglomerate John Keells Holdings Plc fell 0.39 percent. The company on Friday reported an 8 percent rise in second quarter net profit.

($1 = 147.9500 Sri Lankan rupees)

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Vyas Mohan)

 

Sri Lankan shares edge up in dull trade ahead of govt budget

First Capital’s Head of Research, Dimantha Mathew, speaks to Reuters Thursday Oct 27, 2016

stock

Sri Lankan shares ended slightly firmer on Thursday, hovering near a 12-week closing low hit earlier in the week, in thin trade as investors awaited cues from the government budget and five-year plan as well as corporate earnings.

Prime Minister Ranil Wickremesinghe issued an economic policy statement in the parliament, giving some details of the government’s future economic policies, during market hours on Thursday. Dealers said the market was assessing the prime minister’s statement.

The benchmark index of the Colombo Stock Exchange ended 0.06 percent, or 3.61 points, firmer at 6,438.50. On Monday, the index had closed at its lowest level since August 1.

Thursday’s turnover was 204.7 million rupees ($1.38 million), less than a third of this year’s daily average of around 731.3 million rupees.

“Overall market is volatile and will move side ways until the budget,” said Dimantha Mathew, head of research at First Capital Equities (Pvt) Ltd. “Uncertainty is there and investors are on wait-and-see mode.”

Foreign investors sold a net 18.4 million rupees worth of equities on Thursday. The net foreign inflow for the past eleven sessions through Tuesday was 1.23 billion rupees.

They have sold a net 1.81 billion rupees worth of shares this year.

Sri Lanka’s quarterly earnings season started two weeks ago, but most locally listed firms report in late October or early November. The national budget is scheduled to be presented on November 10.

Shares in Bukit Darah Company Plc jumped 3.72 percent while Dialog Axiata Plc rose 0.87 percent and Hatton National Bank Plc gained 0.75 percent.

 

($1 = 147.9000 Sri Lankan rupees)

 

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Vyas Mohan)

Sri Lankan Shares Recover from 12-wk Low in Dull Trading

First Capital’s Head of Research, Dimantha Mathew, speaks to Reuters Tuesday Oct 25, 2016

stock-2

Sri Lankan shares edged up on Tuesday from a 12-week closing low hit in the previous session, but trading volume slumped to a more than 2-1/2-year low as investors awaited cues from the government budget and five-year plan as well as corporate earnings.

Sri Lanka’s quarterly earnings season started two weeks ago, but most of the firms listed locally reports in late October or early November. The national budget is scheduled to be presented on Nov. 10.

The benchmark index of the Colombo Stock Exchange ended 0.29 percent or 18.63 points higher at 6,436.97, edging up from Monday’s close of 6,418.34, its lowest since Aug. 1. The index fell 0.54 percent last week, its second straight weekly loss.

Tuesday’s turnover was 135.9 million rupees ($921,355.93), its lowest since March 17, 2014 and lower than a fifth of this year’s daily average of around 736.2 million rupees.

“It was a very dull day. It’s a waiting game now and nothing is happening,” said Dimantha Mathew, head of research at First Capital Equities (Pvt) Ltd.

“The equity market is dead and all are waiting for the government’s five-year plan and the budget.”

Stockbrokers said the market was also digesting political concerns over the resignation of the head of Sri Lanka’s anti-corruption body on Oct. 17, a few days after President Maithripala Sirisena implied that the agency was favouring the rival party of his prime minister.

This is likely to delay one of the promises of Sirisena’s coalition government, eliminating corruption, and could hurt business confidence, analysts said.

Foreign investors bought a net 17.6 million rupees worth of equities on Tuesday, in the eleventh straight session of net foreign inflows and bringing the total net inflows to 1.23 billion rupees over that period.

They have sold a net 1.74 billion rupees worth of shares this year.

Shares in Ceylon Tobacco Company rose 2 percent, while Carson Cumberbatch Plc rose 1.65 percent.

($1 = 147.5000 Sri Lankan rupees)

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Amrutha Gayathri)

Sri Lankan Shares hit 12-wk low as Investors Eye Budget, 5-yr plan

First Capital’s Head of Research, Dimantha Mathew, speaks to Reuters Monday Oct 24, 2016

stock-market

Sri Lankan shares closed Monday at their lowest in 12 weeks in lean trade as investors awaited cues from the central government budget and the five-year plan ahead of corporate results.

Sri Lanka’s quarterly earnings season started two weeks back, but the bulk of locally listed firms will not report until late October or early November.

The national budget is scheduled to be presented on November 10.

The benchmark index of the Colombo Stock Exchange ended 0.45 percent or 29.19 points lower at 6,418.34, its lowest close since August 1. The index had fallen 0.54 percent last week, its second straight weekly loss.

“There is no improvement in the economic conditions and the uncertainty prevails, which is deterring the investors from taking long term position,” said Dimantha Mathew, head of research at First Capital Equities (Pvt) Ltd.

“Market is waiting for the government’s five-year plan and the budget. We see investors have switched to wait-and-see mode. Not many of them are looking at long term until some certainty comes into place.”

Turnover stood at 301.3 million rupees ($2.05 million), less than half of this year’s daily average of around 740 million rupees.

Stockbrokers said the stock market was also digesting political concerns over the resignation of the head of Sri Lanka’s anti-corruption body on October 17, a few days after President Maithripala Sirisena implied that the agency was favouring the rival party of his prime minister.

This is likely to delay one of the promises of Sirisena’s coalition government, eliminating corruption, and could hurt business confidence, analysts said.

Foreign investors bought a net 62.5 million rupees worth equities on Monday, extending the net foreign inflow for the past nine days to 1.21 billion rupees worth of shares.

They have sold a net 1.76 billion rupees worth of shares so far this year.

Shares in Ceylon Tobacco Company fell 2 percent after media reports suggested there could be a further hike in cigarette prices, while Commercial Leasing and Finance Plc lost 5.3 percent.

($1 = 146.9000 Sri Lankan rupees)

(Reporting by Shihar Aneez; Editing by Vyas Mohan)

Sri Lankan Shares Edge up on Foreign Buying, Turnover Hits Near 3-wk High

First Capital’s Head of Research, Dimantha Mathew, speaks to Reuters Fri Oct 21, 2016

Sri Lankan shares ended slightly firmer on Friday, edging up from their lowest close in 1 month hit in the previous session, as foreign investors bought risk assets ahead of a flurry of corporate results and next month’s national budget. Sri Lanka’s quarterly earnings season started last week but the bulk of locally listed firms will not report until late October or early November. The national budget is scheduled to be presented on Nov. 10.

The benchmark index of the Colombo Stock Exchange ended 0.08 percent or 5.17 points firmer at 6,447.53, up from its lowest close since Sept. 20 hit on Thursday. The index fell 0.54 percent on the week, its second straight weekly loss. Turnover stood at 1.15 billion rupees ($7.81 million), the highest since Oct. 3 and more than this year’s daily average of around 741.5 million rupees.

“Today the market was a bit positive with some foreign inflows. Even though the quantity was low the foreign interest was there,” said Dimantha Mathew, head of research, First Capital Equities (Pvt) Ltd.

People walk past an electronic board displaying various Asian countries' stock price index and world major index outside a brokerage in Tokyo, Japan, August 21, 2015.  REUTERS/Issei Kato/File Photo
REUTERS/Issei Kato/File Photo

Stockbrokers said the stock market was also digesting political concerns over the resignation of the head of Sri Lanka’s anti-corruption body on Monday, a few days after President Maithripala Sirisena implied that the agency was favouring the rival party of his prime minister.

This is likely to delay one of the promises of Sirisena’s coalition government to eliminate corruption and could hurt business confidence, analysts said. Foreign investors bought a net 233.8 million rupees worth equities on Friday, extending the net foreign inflow for the past nine days to 1.15 billion rupees worth of shares. They have sold a net 1.82 billion rupees worth of shares so far this year.

Shares in Sri Lanka Telecom Plc rose 2.77 percent, while top conglomerate John Keells Holdings Plc ended steady.

($1 = 147.2000 Sri Lankan rupees)

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Biju Dwarakanath)

Sri Lankan Shares Close at 1-month Low in Thin trade

First Capital’s Senior Research Analyst, Atchuthan Srirangan, speaks to Reuters Thu Oct 20, 2016

Sri Lankan shares ended slightly weaker on Thursday, posting their lowest close in a month, as investors awaited next month’s national budget and a flurry of corporate results. The benchmark index of the Colombo Stock Exchange ended 0.03 percent or 2.03 points lower at 6,442.36, its lowest close since Sept. 20, in thin trading.

“Investors are waiting to see the outcome of the budget and quarterly results,” said Atchuthan Srirangan, a senior research analyst with First Capital Equities (Pvt) Ltd. “Market will move sideways until the budget,” he said.

Stockbrokers said the market was digesting political concerns over the resignation of the head of Sri Lanka’s anti-corruption body on Monday, a few days after President Maithripala Sirisena implied that the agency was favouring the rival party of his prime minister. This is likely to delay one of the promises of Sirisena’s coalition government to eliminate corruption and could hurt business confidence, analysts said.

Turnover stood at 365.03 million rupees ($2.50 million), well below this year’s daily average of around 739.4 million rupees. Foreign investors, who have sold a net 2.06 billion rupees worth of shares so far this year, bought a net 39.1 million rupees worth equities on Thursday.

Top conglomerate John Keells Holdings Plc ended 0.66 percent weaker while Cargills (Ceylon) Plc fell 4.61 percent. Sri Lanka’s quarterly earnings season started last week but the bulk of locally listed firms will not report until late October or early November.

($1 = 145.9000 Sri Lankan rupees)

(Reporting by Ranga Sirilal; Editing by Amrutha Gayathri)

First Capital’s A- rating was reaffirmed by ICRA Lanka

The issuer rating of SL[A-] with stable outlook was reaffirmed for First Capital Holdings PLC (FC) by ICRA Lanka Limited, subsidiary of ICRA Limited, a group company of Moody’s Investors Service.

ICRA Lanka also reaffirmed the issuer rating [SL]A- with stable outlook for First Capital’s standalone primary dealer First Capital Treasuries PLC (FCT).

The rating report noted potential improvement in the business and financial performances of FCH’s other business entities, which are engaged in corporate debt structuring, corporate finance, asset management, stock broking, extending margin trading facilities and trustee services.

FCH, being a holding company derives its income from the dividends from the group entities and income from its investments, which includes interest income and profit from investments. Total standalone income for FY2016 was adversely affected (LKR 350 Mn total income in FY2016 vis a vis LKR 590 Mn in FY2015) due to non-availability of dividend income (LKR 212 Mn in FY2015), which is linked to performance of the principal subsidiary, FCT. The expected improvement in the performance of FCT in FY2017 vis a vis FY2016, is likely to support the overall performance of FCH.

First Capital power 37th National Conference of Chartered Accountants with Gold

First Capital Holdings PLC has committed to power the 37th National Conference of Chartered Accountants with Gold sponsorships.

The annual flagship event, organised by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) is to be held from 19 to 21 October, under the theme ‘Unleashed Thinking: Entrepreneurship and Intrapreneurship.’ The conference which has built a reputation as a leading business summit in the country, is expected to attract over 1,500 business leaders including chartered accountants and leaders from other professions.

First Capital Holdings Group Chief Executive Officer Dilshan Wirasekara said that First Capital is delighted to sponsor a benchmark event such as the National Conference of Chartered Accountants for the third successive year. “We see the impact that national level events such as this conference have on the maintenance of high professional standards and practices across the industry as Sri Lanka’s capital market enters the next phase of growth,” he said.

“This year’s conference is expected to focus on the potential of entrepreneurship and intrapreneurship, specifically on how it can benefit Sri Lanka to drive the country to the next level, boosting its standing as a global player in the international business arena.
Reputed as a business summit, the conference aims to stimulate vibrant innovative entrepreneurs and intrapreneurs whilst establishing high profile market leading companies to be ready for the new challenges that they will have to face as a result of disruptive technology, consumer demand and the aspirations of millennial workforce,” he said.

Welcoming the companies onboard, CA Sri Lanka President Lasantha Wickremasinghe said as a highly respected professional organization, the institute takes it upon their responsibility to give the necessary boost not only to enhance the standing of the accounting and finance professions, but also to be a catalyst in helping Sri Lanka’s achieve its growth goals.

“As a country, we have great potential to be a global player, and we believe this summit which attracts a significant representation of corporate leadership, will be the perfect platform to promote and stimulate upon the importance where both entrepreneurs and intrapreneurs  can take the lead to help Sri Lanka achieve it’s true potential,” Wickremasinghe said.

Read More…

First Capital Chief Executive Officer Dilshan Wirasekara, Senior Manager – Business Development and Corporate Planning Kosala Liyanagedara and Manager Branding and Marketing Services Nisansala Munasinghe exchanging the sponsorship cheque with CA Sri Lanka President Lasantha Wickremasinghe, Vice President Jagath Perera, Conference Committee Chairman Tishan Subasinghe and CEO Aruna Alwis
First Capital Chief Executive Officer Dilshan Wirasekara, Senior Manager – Business Development and Corporate Planning Kosala Liyanagedara and Manager Branding and Marketing Services Nisansala Munasinghe exchanging the sponsorship cheque with CA Sri Lanka President Lasantha Wickremasinghe, Vice President Jagath Perera, Conference Committee Chairman Tishan Subasinghe and CEO Aruna Alwis

CIM Sri Lanka partners First Capital Holdings for cross-discipline knowledge sharing

CIM Sri Lanka Vice Chair Brian Selvanayagam, CIM Sri Lanka Chairman Sanjika Perera, First Capital Holdings Chief Executive Officer Dilshan Wirasekara and Nisansala Munasinghe from First Capital Holdings’ Branding and Marketing Services
CIM Sri Lanka Vice Chair Brian Selvanayagam, CIM Sri Lanka Chairman Sanjika Perera, First Capital Holdings Chief Executive Officer Dilshan Wirasekara and Nisansala Munasinghe from First Capital Holdings’ Branding and Marketing Services

 

 

The Chartered Institute of Marketing Sri Lanka entered into a strategic partnership with First Capital Holdings PLC, one of the country’s leading investment banks, to lay the foundation for a cross-discipline knowledge sharing platform.

Further strengthening the aspiration to build awareness and share industry knowhow a Memorandum of Understanding (MOU) was signed between CIM Sri Lanka and First Capital, committing to goals mutually benefiting both organisations.

Commenting on the partnership, CIM Sri Lanka Chairman Sanjika Perera said: “As CIM Sri Lanka enters its 21st year in developing professional education in the Island it is a privilege to partner First Capital Holdings PLC with over 30 years’ experience in investment banking to increase awareness around both industries through a series of initiatives planned to unfold during the year.”

First Capital Holdings Chief Executive Officer Dilshan Wirasekara said: “We at First Capital are pleased to collaborate with a renowned professional body such as the Chartered Institute of Marketing Sri Lanka. In our commitment towards setting industry standards, we are constantly seeking to sharpen our competitive edge by working together with leading professional bodies. We believe this partnership will benefit both organisations to increase its footprints by sharing insights and understanding about our industries.”

CIM Sri Lanka is the first International branch of CIM UK and is proud to claim the largest membership outside the UK. CIM Sri Lanka has always campaigned for high professional standards, greater recognition for the Profession and Marketing excellence in Sri Lanka through education, training and development.

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

First Capital currently serve an array of companies, institutions, government agencies, high net worth individuals and retail clients seeking truly objective advice, innovative solutions and execution expertise. The Company is listed on the Colombo Stock Exchange and is rated A- by ICRA Lanka Ltd.

Source: Daily FT | Published : September 7, 2016

SPECIAL REPORT: International Investor Perspective on Local Currency Solutions

  • First Capital Holdings PLC brings together Netherlands-based The Currency Exchange Fund (TCX), FMO – Entrepreneurial Development Bank, Frontclear and UK-based GuarantCo to share key insights and support

By Charumini de Silva

In an effort to expand the horizon of local banks, non-Bank Financial Institutions (nBFIs) and micro-finance institutions, a specialised forum titled ‘International Investor Perspective on Local Currency Solutions’ was held recently in Colombo.

The forum was and ideal opportunity to exchange experiences and raise awareness about local currency funding options from Development Financial Institutes (DFIs) and foreign investors.

The forum was jointly organised by Netherlands-based The Currency Exchange Fund (TCX), FMO – Entrepreneurial Development Bank, Frontclear and UK-based GuarantCo, together with local investment bank First Capital Holdings PLC.

Read More…

 

Published in Daily FT on Wednesday, 13 July 2016