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FINANCIAL CHRONICLE™ » EXPERT CHRONICLE™ » UK Sets Deadline For Sri Lanka

UK Sets Deadline For Sri Lanka

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own

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Equity Analytic
Equity Analytic
Will be an effect in next week?

The British government has set a deadline for Sri Lanka to show progress in addressing concerns of human rights violations committed during the war. British Foreign Secretary William Hague has told the British Foreign Affairs Committee that Sri Lanka has been told it needs to show progress by the end of this year or Britain will support the international community in revisiting all options available to press the Sri Lankan government to fulfill its obligations.
The Foreign Affairs Committee had criticized the British Foreign office over its failure to press for the setting up of an international war crimes inquiry to investigate allegations of atrocities carried out by both sides in the Sri Lankan civil war. William Hague had late last week handed over a response to the concerns raised by the Committee.
In his response, William Hague had said that the British government shares the view of the Committee that concrete action is necessary to deal with the “serious allegations” of breaches of international humanitarian and human rights law committed by both sides during the military conflict in Sri Lanka. The UN Panel of Experts Report and the Channel 4 documentary underline the imperative need for this, Hague said in his response, a copy of which was made available to the media by the British Foreign and Commonwealth Office last week.
William Hague added that the British government believes that the process of reconciliation between Sri Lanka’s communities has a greater chance of success if investigations are Sri Lankan-led rather than externally imposed. The British Foreign Affairs Committee had commended Channel 4 for its documentary ‘Sri Lanka’s Killing Fields’, which showed horrific scenes of crimes carried out in 2009 and called on the UK Government to press for the setting up of an international war crimes inquiry to investigate allegations of atrocities carried out by both sides in the Sri Lankan civil war.

: http://www.thesundayleader.lk/?p=47116

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Post Sun Sep 18, 2011 4:07 pm by Genting

positive news from broker credit can easily wipe out all these negative factors.

Anyway, regarding the news, instead of completely white washing the SL Gov, if they (SL gov) can come up with actually what happened and what went wrong, none of these allegations matters.

During Iraq war, US army made lot of human right violations. Instead of denying them, they clearly went on public and accepted things went wrong.

Slstock

Post Sun Sep 18, 2011 4:43 pm by Slstock

@Genting wrote:positive news from broker credit can easily wipe out all these negative factors.

Anyway, regarding the news, instead of completely white washing the SL Gov, if they (SL gov) can come up with actually what happened and what went wrong, none of these allegations matters.

During Iraq war, US army made lot of human right violations. Instead of denying them, they clearly went on public and accepted things went wrong.

No war is fair.

Agreed. If the government find evidence to any wrong doings ,it is more magnanimous to be receptive and address it in the Reconciliation process.

If we keep completely denying, no wrong doing happened, these so called foreign powers ( who also have blood on their hands and does not admit) will try to cover up their own wrong doings by highlighting some others.

Leave these so called big shot aside. But we should try to identify if we went wrong somewhere and try to address it to best possible now. Then at some point these people will need ( have ) to shut up.

Sasanka De Silva

Post Sun Sep 18, 2011 5:21 pm by Sasanka De Silva

Would this make Foreign investors shying away?

Slstock

Post Sun Sep 18, 2011 5:50 pm by Slstock

@Sasanka De Silva wrote:Would this make Foreign investors shying away?

Well, they are already away. There was worse news before. So this can;t be so bad.

In the long run CSE needs to grow to be less dependent on these foriengers if we are to grow stronger on our own.
I accept foreign money coming is in is a good sign and will strengthen our market but we are still too dependent I feel even in our mentality.

Everyday we see foreign selling more stories, market over valued stories and locals/retailers seems to get influenced by it a lot.

There are still many around below PE 12 companies with strong growth potential. With more companies getting into "Asia’s ‘Best under a US$ billion" we are getting further publicity also. Notice companies like DIST foreign holding is improving.

With more over 1 billion profit companies coming to CSE and many other keep growing , the internal share holder wealth is also increasing. Earlier we were so dependent on foreigners as we lacked money. But seriously CSE is such a small market and I think with the right mind set and education we should be able attract more locals. Just look at how many new CDS account are open last year to now. Issue is most come with gambling intensions not investing and get stuck with useless shares and money is tied up for nothing. Many wish to go for short term quick gains. Though traders are needed we also need more people shifting to investors.


Other than fundamental growth there is one other factor which makes market grow. It is investor confidence and mentatlity. We should believe and invest in the good shares in our market and be less dependent on foriegn actions. Usually foreigner enter early, buy very low ( when we do not want to buy ) and sell when we decide to buy. Now they are exiting with hefty profits of shares bought during war period. It does not mean all of our market is overvalued and their existing is doomsday.

Let us believe in CSE and invest in fundamentals . If we all start thinking correct I think our market will sustain even with lesser foreign participation.







Sasanka De Silva

Post Sun Sep 18, 2011 6:00 pm by Sasanka De Silva

Thanks for your very passionate response.
Partly I agree with some of your stand points but foreign investment is a necessary evil that we have to live with if we have to forge ahead on an export oriented economy.

Slstock

Post Sun Sep 18, 2011 6:17 pm by Slstock

@Sasanka De Silva wrote:Thanks for your very passionate response.
Partly I agree with some of your stand points but foreign investment is a necessary evil that we have to live with if we have to forge ahead on an export oriented economy.

Sasanka,
As I mentioned "I accept foreign money coming in is a good sign and will strengthen our market". Yes it is still necessary evil agreed.

But I was more trying to stress that we should not have foreign dependent mentality. We should not make the mistake of our colonial times.

BTW, I actually got all my degrees outside Sri Lanka and even nowadays I am not in Sri Lanka . Am saying all this just to say I have nothing against foreigners as I deal with so many of them but we should not be dependent on them so much . If we try to get on our own feet maybe these guys will also respect us for our potential more. Same theory will apply to CSE.

Just think,

Why are these foreigner not entering CSE now? ( Okay apart from Macro reasons). Even with all these PE 10 companies with good growth ?

I see one other solid reason why they will not rush in. Hint just look at the pattern for foriegn capital influx ? What is wrong with our market right now?


avatar

Post Sun Sep 18, 2011 6:53 pm by WildBear

@slstock wrote:
@Sasanka De Silva wrote:Would this make Foreign investors shying away?

Well, they are already away. There was worse news before. So this can;t be so bad.

In the long run CSE needs to grow to be less dependent on these foriengers if we are to grow stronger on our own.
I accept foreign money coming is in is a good sign and will strengthen our market but we are still too dependent I feel even in our mentality.

Everyday we see foreign selling more stories, market over valued stories and locals/retailers seems to get influenced by it a lot.

There are still many around below PE 12 companies with strong growth potential. With more companies getting into "Asia’s ‘Best under a US$ billion" we are getting further publicity also. Notice companies like DIST foreign holding is improving.

With more over 1 billion profit companies coming to CSE and many other keep growing , the internal share holder wealth is also increasing. Earlier we were so dependent on foreigners as we lacked money. But seriously CSE is such a small market and I think with the right mind set and education we should be able attract more locals. Just look at how many new CDS account are open last year to now. Issue is most come with gambling intensions not investing and get stuck with useless shares and money is tied up for nothing. Many wish to go for short term quick gains. Though traders are needed we also need more people shifting to investors.


Other than fundamental growth there is one other factor which makes market grow. It is investor confidence and mentatlity. We should believe and invest in the good shares in our market and be less dependent on foriegn actions. Usually foreigner enter early, buy very low ( when we do not want to buy ) and sell when we decide to buy. Now they are exiting with hefty profits of shares bought during war period. It does not mean all of our market is overvalued and their existing is doomsday.

Let us believe in CSE and invest in fundamentals . If we all start thinking correct I think our market will sustain even with lesser foreign participation.




Thanks for the wonderful and progressive ideas. I learned that you are part of Sri Lankan academia. We can really proud of the masterclass of Sri Lankan academics. The whole idea of University is creating new ideas,concepts,products that progress towards National development.You are a classic example. If we have people like you in other fields, We can make SL not only wonder of Asia but Wonder of the World....

avatar

Post Sun Sep 18, 2011 7:03 pm by RockStock

@WildBear wrote:
@slstock wrote:
@Sasanka De Silva wrote:Would this make Foreign investors shying away?

Well, they are already away. There was worse news before. So this can;t be so bad.

In the long run CSE needs to grow to be less dependent on these foriengers if we are to grow stronger on our own.
I accept foreign money coming is in is a good sign and will strengthen our market but we are still too dependent I feel even in our mentality.

Everyday we see foreign selling more stories, market over valued stories and locals/retailers seems to get influenced by it a lot.

There are still many around below PE 12 companies with strong growth potential. With more companies getting into "Asia’s ‘Best under a US$ billion" we are getting further publicity also. Notice companies like DIST foreign holding is improving.

With more over 1 billion profit companies coming to CSE and many other keep growing , the internal share holder wealth is also increasing. Earlier we were so dependent on foreigners as we lacked money. But seriously CSE is such a small market and I think with the right mind set and education we should be able attract more locals. Just look at how many new CDS account are open last year to now. Issue is most come with gambling intensions not investing and get stuck with useless shares and money is tied up for nothing. Many wish to go for short term quick gains. Though traders are needed we also need more people shifting to investors.


Other than fundamental growth there is one other factor which makes market grow. It is investor confidence and mentatlity. We should believe and invest in the good shares in our market and be less dependent on foriegn actions. Usually foreigner enter early, buy very low ( when we do not want to buy ) and sell when we decide to buy. Now they are exiting with hefty profits of shares bought during war period. It does not mean all of our market is overvalued and their existing is doomsday.

Let us believe in CSE and invest in fundamentals . If we all start thinking correct I think our market will sustain even with lesser foreign participation.




Thanks for the wonderful and progressive ideas. I learned that you are part of Sri Lankan academia. We can really proud of the masterclass of Sri Lankan academics. The whole idea of University is creating new ideas,concepts,products that progress towards National development.You are a classic example. If we have people like you in other fields, We can make SL not only wonder of Asia but Wonder of the World....

Agreed 100%

avatar

Post Sun Sep 18, 2011 7:39 pm by WildBear

We should not rely on Forign investors in CSE, Rather we should encourage Foreign Direct Investment that generate long term employment and economic growth.I think FDI target is achieving so far.

If foreign investors in CSE will ultimately drain our capital and Foreign currency deposits
eg: Say Foreigners invest $ 1 million in CSE in 2011, assume value of it is $ 5 million by 2016, Then they will sell it off and fly away with eroding our foreign currency deposits, Their presence here didn't create any employment opportunity here, except their original $1 million stays in SL for above 5 year period.

soileconomy

Post Sun Sep 18, 2011 8:36 pm by soileconomy

we are so privileged to have people like you "slstock".
At this moment Sri Lanka needs people like you but very very very difficult to find
Great Thoughts.

rijayasooriya

Post Sun Sep 18, 2011 9:08 pm by rijayasooriya

Some of british politicians still think that we are still their colony.When a country does not obey their(not only UK) orders they try to humiliate and destroy the leaders of that country under cover of human rights etc.I do not think we can convince those biased countries with any reasonings but we can convince our friendly countries with good reasoning.That what we should do.

Not only in CSE but also in every other fields we should not depend on foreigners.If we depend on them then they will use it as a means to control over countries.From colonial times that is what they have been doing.They destroyed our self depended economy and have made our cointries as raw material supplying countries and as a market for their merchandise.

avatar

Post Sun Sep 18, 2011 9:53 pm by Investor99

[quote="WildBear"]
@slstock wrote:
@Sasanka De Silva wrote:Would this make Foreign investors shying away?

Thanks for the wonderful and progressive ideas. I learned that you are part of Sri Lankan academia. We can really proud of the masterclass of Sri Lankan academics. The whole idea of University is creating new ideas,concepts,products that progress towards National development.You are a classic example. If we have people like you in other fields, We can make SL not only wonder of Asia but Wonder of the World....

I would also like to see SL in this status but I am sorry to say this but in reality I do not agree with your comment. As long as there is corruption and wastage SL will not achieve this, we have a long way to go unless solutions are found to solve these two factors.

Sasanka De Silva

Post Sun Sep 18, 2011 10:29 pm by Sasanka De Silva

@Investor99 wrote:I would also like to see SL in this status but I am sorry to say this but in reality I do not agree with your comment. As long as there is corruption and wastage SL will not achieve this, we have a long way to go unless solutions are found to solve these two factors.
Couldn't agree more ! Very Happy

avatar

Post Sun Sep 18, 2011 11:38 pm by Quibit

Article Moved to Expert Chamber.

Kithsiri

Post Mon Sep 19, 2011 1:24 am by Kithsiri

@Quibit wrote:Article Moved to Expert Chamber.
How to access the Chamber?

Slstock

Post Mon Sep 19, 2011 10:28 am by Slstock



Thanks guys. No man is an Island. And yes sri lanka might not be still not ready with issues raised but should not we start somewhere . How about now ??

Can we start in this forum ? How about revisiting our strategies and mind set to see if they are viable? ( if you are no sure what we are talking about please read the posts in the topic)


@Kithsiri wrote:
@Quibit wrote:Article Moved to Expert Chamber.
How to access the Chamber?
One the home page just like "Stock Market Talk" there is another Thread.

Kithsiri

Post Mon Sep 19, 2011 10:48 am by Kithsiri

@slstock wrote:
Thanks guys. No man is an Island. And yes sri lanka might not be still not ready with issues raised but should not we start somewhere . How about now ??
Can we start in this forum ? How about revisiting our strategies and mind set to see if they are viable? ( if you are no sure what we are talking about please read the posts in the topic)
@Kithsiri wrote:
@Quibit wrote:Article Moved to Expert Chamber.
How to access the Chamber?
One the home page just like "Stock Market Talk" there is another Thread.
Thanks !

I do not believe that Foreign money is needed to run a stock market locally (pardon me for my ignorance) but for development their direct investment is a must.

How to make more locals interested in investing in shares is a difficult task because of fear factor.

Not that they will lose money but this stock market and dealings have created a persona that many rich who put their money in bogus finance companies think that it is a impregnable citadel.

I have encouraged a few (including my daughter and friends) to have a go and all are happy.

Education (san too much technical jargons at the beginning) is the key to get more and CSE must do more to attract prospective investors.

avatar

Post Mon Sep 19, 2011 10:56 am by WildBear

[quote="Investor99"]
@WildBear wrote:
@slstock wrote:
@Sasanka De Silva wrote:Would this make Foreign investors shying away?

Thanks for the wonderful and progressive ideas. I learned that you are part of Sri Lankan academia. We can really proud of the masterclass of Sri Lankan academics. The whole idea of University is creating new ideas,concepts,products that progress towards National development.You are a classic example. If we have people like you in other fields, We can make SL not only wonder of Asia but Wonder of the World....

I would also like to see SL in this status but I am sorry to say this but in reality I do not agree with your comment. As long as there is corruption and wastage SL will not achieve this, we have a long way to go unless solutions are found to solve these two factors.

But it's always good to do our part in full capacity rather than screaming about external factors, like corruption,wasting etc. We never can achieve a corruption free country. Even developed western countries we can see abundant wastage,corruption. Even the most corrupted India has progressed steadily and becoming a global economic giant.

If we wait until our pathway to be cleared by someone for us to proceed ,we will never achieve our targets.Yes corruption and wastage are obviously burning issues in SL, but we should take up those things as challenges and move forward. That's why people with positive attitudes like "SlStock" are important.

Besides corruption,wastage Sri Lanka already showed their class in some fields

Sports like Cricket
Defeating terrorism
Dominating position in Tea,Aperral etc
Good literacy rate
Quality healthcare indices etc

Therefore at least if some of us come up with positive attitudes, we can overcome the challenge and obstacles and move forwards rather than accusing for politicians or other parties.

It's always good to lit at least one candle rather than blaming the darkness

avatar

Post Mon Sep 19, 2011 3:09 pm by Investor99

[quote="WildBear"]
@Investor99 wrote:
@WildBear wrote:
@slstock wrote:
@Sasanka De Silva wrote:Would this make Foreign investors shying away?

Thanks for the wonderful and progressive ideas. I learned that you are part of Sri Lankan academia. We can really proud of the masterclass of Sri Lankan academics. The whole idea of University is creating new ideas,concepts,products that progress towards National development.You are a classic example. If we have people like you in other fields, We can make SL not only wonder of Asia but Wonder of the World....

I would also like to see SL in this status but I am sorry to say this but in reality I do not agree with your comment. As long as there is corruption and wastage SL will not achieve this, we have a long way to go unless solutions are found to solve these two factors.

But it's always good to do our part in full capacity rather than screaming about external factors, like corruption,wasting etc. We never can achieve a corruption free country. Even developed western countries we can see abundant wastage,corruption. Even the most corrupted India has progressed steadily and becoming a global economic giant.

If we wait until our pathway to be cleared by someone for us to proceed ,we will never achieve our targets.Yes corruption and wastage are obviously burning issues in SL, but we should take up those things as challenges and move forward. That's why people with positive attitudes like "SlStock" are important.

Besides corruption,wastage Sri Lanka already showed their class in some fields

Sports like Cricket
Defeating terrorism
Dominating position in Tea,Aperral etc
Good literacy rate
Quality healthcare indices etc

Therefore at least if some of us come up with positive attitudes, we can overcome the challenge and obstacles and move forwards rather than accusing for politicians or other parties.

It's always good to lit at least one candle rather than blaming the darkness


I agree that we cannot have a corruption free, wastage free SL but see the most recent wastage occurrences the importing of undergrad cement and petrol, cutting down the nations parks for timber, hotel constructions, agricultural purposes or for road construction. In the daily papers I have not seen one day without an article about corruption or wastage. Majority of the corruption happens at the top levels and even if we change our mind set and try to move forward what we can do to change the mindsets of the people of the top basically we cannot do anything.

Yes we have won the war, but winning the war is just a small step, we still we have not solved the root cause of the problem to win the hearts and mind of the Tamil community.

Asia’s best performing stock exchange does not have a backup system; foreign investors are going to shy away from our stock exchange. SL has so many holidays in a year.

A few years ago the Galle face green was upgraded spending a couple of million rupees and there were benches etc setup. I don’t think these benches are still there.

If you take note of the situation and how things are happening SL being another Singapore is just only a dream. But if the whole country could unities along with the political parties and the masses to minimise wastage and corruption then SL can be another Singapore. But it’s going to be hard work.

We need two hands to clap the same way we need to get all parties to get involved to development of our country.

mono

Post Mon Sep 19, 2011 7:35 pm by mono

@own wrote:Will be an effect in next week?

The British government has set a deadline for Sri Lanka to show progress in addressing concerns of human rights violations committed during the war. British Foreign Secretary William Hague has told the British Foreign Affairs Committee that Sri Lanka has been told it needs to show progress by the end of this year or Britain will support the international community in revisiting all options available to press the Sri Lankan government to fulfill its obligations.
The Foreign Affairs Committee had criticized the British Foreign office over its failure to press for the setting up of an international war crimes inquiry to investigate allegations of atrocities carried out by both sides in the Sri Lankan civil war. William Hague had late last week handed over a response to the concerns raised by the Committee.
In his response, William Hague had said that the British government shares the view of the Committee that concrete action is necessary to deal with the “serious allegations” of breaches of international humanitarian and human rights law committed by both sides during the military conflict in Sri Lanka. The UN Panel of Experts Report and the Channel 4 documentary underline the imperative need for this, Hague said in his response, a copy of which was made available to the media by the British Foreign and Commonwealth Office last week.
William Hague added that the British government believes that the process of reconciliation between Sri Lanka’s communities has a greater chance of success if investigations are Sri Lankan-led rather than externally imposed. The British Foreign Affairs Committee had commended Channel 4 for its documentary ‘Sri Lanka’s Killing Fields’, which showed horrific scenes of crimes carried out in 2009 and called on the UK Government to press for the setting up of an international war crimes inquiry to investigate allegations of atrocities carried out by both sides in the Sri Lankan civil war.

: http://www.thesundayleader.lk/?p=47116

So essentially they're going to make a lot of noise come december. Rolling Eyes

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