Tag Archives: Prime Minister Ranil Wickremesinghe

Sri Lanka’s changing investment landscape set for analysis in 2017 report

Sri Lanka’s efforts to boost capital inflows through the gradual liberalisation of its trade and investment laws will be explored in a forthcoming report by the global publishing firm Oxford Business Group (OBG).

Invest in Sri Lanka with First Capital Holdings Plc

The Report: Sri Lanka 2017 will look in detail at what the country’s capital markets sector is doing to prepare for an era of higher investment. Key developments set for analysis include a drive under way to modernise the industry and the emergence of new private equity groups on the scene.

OBG’s report will also consider the economic challenges that Sri Lanka currently faces, led by rising debt levels and balance of payment issues.

First Capital Holdings PLC has signed a second memorandum of understanding (MOU) with OBG for the publishing firm’s forthcoming report on the country. Under the MOU, the investment bank will team up with OBG once again to compile and produce the capital markets chapter of The Report: Sri Lanka 2017.

Dilshan Wirasekara, Group CEO, First Capital Holdings PLC, said he was confident that OBG’s 2017 report would play a pivotal part in highlighting the opportunities emerging across Sri Lanka’s economy to investors keen to tap into the country’s post-war economic expansion.

“Initiatives such as Oxford Business Group’s reports are helping to meet growing demand for up-to-date, accurate information on Sri Lanka at a time when efforts to attract new foreign investment for projects are gaining pace,” he said. “I look forward to partnering with the Group’s team and once again contributing to what is undoubtedly a valuable global research tool.”

Welcoming First Capital Holdings on board, Andrea Tsiachtsiri, OBG’s Country Director, agreed that the rolling out of big-ticket, capital projects, such as Colombo Port City and Megapolis, had heightened the need to keep business leaders updated on developments in Sri Lanka.

“Sri Lanka’s Government will be looking to its project pipeline to help ensure that future growth is broader and more inclusive,” she said. “First Capital has been a key player on Sri Lanka’s financial services industry for over 30 years, giving its experts an in-depth knowledge of the country’s capital markets and investment banking spectrum. I’m thrilled that our readers will once again benefit from its team’s input.”

The Report: Sri Lanka 2017 will be a vital guide to the many facets of the country, including its macroeconomics, infrastructure, banking and other sectoral developments. The publication will also contain interviews with leading representatives, including President Maithripala Sirisena, Prime Minister Ranil Wickremesinghe and UN Secretary General Ban Ki-moon. It will be available in print and online.

First Capital Holdings PLC an investment bank in Sri Lanka.

The company operates in the capital markets of Sri Lanka in government securities – treasury bills and bonds, stock brokering and share market investments, asset management, private wealth management,  retirement planning, personal financial planning, unit trust, margin trading, capital market research, trustee services, corporate finance advisory services including corporate debt structuring (debentures, trust certificates, commercial papers), valuations, restructuring, mergers and acquisitions, initial public offerings (IPOs) and project advisory. 

The First Capital Group consists of First Capital Treasuries PLC, First Capital Limited, First Capital Markets Limited, First Capital Asset Management Limited and First Capital Equities (Private) Limited covering Colombo, Negombo, Matara, Kandy and Kurunegala.

Strategy Report 2017

Dec 2016 – “Uncertainty provides volatility; Hope in 2H2017”

strategy-report-2017

 

Content Briefing

 

1.0        Track Record…………………………… 3

2.0        GDP Growth Outlook 2017…………………………… 8

3.0        Factors to Consider for 2017 Outlook……………………  11

4.0        Political Uncertainty clouds 1H2017……………………13

5.0        Economic Outlook for 1H2017 Weak: Uncertain………. 15

6.0        External Environment in Unknown Terrain…………… 23

7.0        FC Research Interest Rate View for 2017……………. 25

8.0        FC Research Exchange Rate View for 2017………….  29

9.0        Recommendations…………………………………….31

10.0       Requirements to improve weaknesses……………….33

 

Sri Lankan shares fall to over 8-month low; Seylan deal weighs

FIRST CAPITAL’S HEAD OF RESEARCH, DIMANTHA MATHEW, SPEAKS TO REUTERS.

Sri Lankan shares fell for a sixth straight session on Tuesday to hit its lowest in more than eight month led by financials as a Seylan Bank share deal cancellation weighed on sentiment.

Stockbrokers said the Colombo Stock Exchange cancelled the 1.3 billion rupees ($8.7 million) Seylan Bank foreign deal on the request of the broker with the consent of both buyer and seller.

Prime Minister Ranil Wickremesinghe ordered a reversal and a probe into the deal as it failed to follow proper procedure.

The Colombo stock index fell 0.45 percent to hit 6,222.33, its intraday lowest since April 8, but recovered to close 0.25 percent weaker at 6,234.75, its lowest close since Nov. 29. The bourse has fallen near 1.7 percent in six straight sessions through Tuesday.

“The market trading was quiet. We expect the turnover levels to fall further. The next supporting level is at 6,000. We expect the index to fall in thin trade,” said Dimantha Mathew, head of research, First Capital Equities (Pvt) Ltd.

Dealers said the cancellation of Seylan Bank has hurt the sentiment of potential foreign buyers.

Turnover stood at 537.6 million rupees ($3.61 million), less than this year’s daily average of around 744.7 million rupees.

 

Foreign investors bought a net 80.3 million rupees worth of shares on Monday, extending the year-to-date net foreign inflow to 697.5 million rupees worth of equities.

Shares in top private lender Commercial bank of Ceylon lost 1.53 percent, while Hatton National Bank fell 1.87 percent to drag down the overall index.

($1 = 148.7500 Sri Lankan rupees)

(Reporting by Shihar Aneez)