Singaporean and Southeast Asian investors "enthusiastic about investing in Sri ...

Singaporean and Southeast Asian investors ‘enthusiastic about investing in Sri Lanka’

January 21, 2014, 6:50 pm

“Sri Lanka is quickly emerging as a prominent contender within the region, we have demonstrated exceptional growth figures in the past four years. The political stability within Sri Lanka has attracted internationally reputed hotel chains such as Shangri-La, Hyatt and Mövenpick,” Minister Dr. Amunugama said, adding that Singapore has always been an important centre for foreign investments in Sri Lanka.

There is growing interest among the new generation of investors in the Sri Lankan Capital Market. This forum will enhance those opportunities and will certainly help in fast tracking such investments to Sri Lanka.

He said so on the occasion of Colombo Stock Exchange (CSE) and the Securities and Exchange Commission of Sri Lanka (SEC), in association with Bloomberg Data services successfully hosting their first Foreign Investor Forum for 2014, in Singapore. The event was held on the January 21 at the Ritz Carlton, Millenia Singapore, which saw over 200 institutional investors, investment banks and financial advisors from Singapore and the region attending the forum, a CSE press release said.

It added: Senior Minister for International Monetary Corporation and Deputy Minister of Finance and Planning Dr. Sarath Amunugama and Governor of the Central Bank Ajith Nivard Cabraal made the keynote addresses.

‘In order to provide regional investors with a broad analysis of the economic climate in Sri Lanka; Chanakya Dissanayake, Director Sri Lanka Country Head of Copal Amba (A Moody’s Subsidiary)made a presentation focusing on the expected returns from the Sri Lankan economy in the coming years.

‘The forum also featured a panel discussion featuring Dr. Amunugama, Cabraal, Dr. Nalaka Godahewa chairman Securities and Exchange Commission of Sri Lanka, Krishan Balendra chairman Colombo Stock Exchange and Ferial Ashraff High Commissioner for Sri Lanka in Singapore.

‘Following this comprehensive introduction to the Capital Market potential investors were made aware of the investment opportunities available within the growing Debt Market in Sri Lanka, in a subsequent fringe event. Assistant Governor, Central Bank of Sri Lanka C J P Siriwardena speaking at the event stated that Sri Lankan macro economic environment is stable and is conducive for Fixed Income investments. Vajira Kulatilaka Director CSE, , highlighted the concessions offered by the 2013 budget for companies listing Corporate Debt and the substantial funds raised through debt IPO’s in 2013, exceeding US$ 529 Mn. They also spoke on the proposed launch of a Fixed Income trading platform for Government Securities in the coming year.

‘The forum also provided Singaporean and regional investors the opportunity of having one-on-one meetings with listed Sri Lankan companies. The listed companies which participated at the event were John Keells Holdings PLC, National Development Bank PLC, DFCC Bank, Carson Cumberbatch PLC, Distilleries Company of Sri Lanka PLC, Dialog Axiata PLC, Ceylinco Insurance PLC, Hayleys PLC, Access Engineering PLC, People’s Leasing Finance PLC, Hemas Holdings PLC, Softlogic Holdings PLC and Tokyo Cement Company (Lanka) PLC.

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Singaporean and Southeast Asian investors "enthusiastic about investing in Sri ...