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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » JK Stockbrokers tie up with Credit Suisse

JK Stockbrokers tie up with Credit Suisse

Go down  Message [Page 1 of 1]

ruwa925


Manager - Equity Analytics
Manager - Equity Analytics
John Keells Stockbrokers, a leading player in the country’s stockbroking industry, has tied up with a major Swiss bank, Credit Suisse, which last week brought ten foreign funds here to take a look at Sri Lanka companies and investment opportunities. Credit Suisse is rated among the world’s top banks. Mr. Dumith Fernando, Managing Director and Chief Operating Officer of Credit Suisse Asia Pacific based in Hong Kong, brought the fund managers here on a visit that coincided with the World Cup cricket.



Mr. Krishan Balendra, President of John Keells Capital, said that instead of having workshop/seminar style discussions, the representatives of the various participating funds visited several top companies including JKH, Commercial Bank, HNB, Aitken Spence, Distilleries, Dockyard and Royal Ceramics where they had discussions with senior managers.



"All but one of the ten funds who were here have no experience in the Sri Lanka market," Balendra said.



Asked whether the visiting funds had problems about the strength of the SL market, Fernando who lived and worked in the US before transferring to Hong Kong, answered in the negative.



"They have no problems with the strength of the market but have some problems on the question of liquidity," he said.



He said that the market had moved recently on stocks in which his clients had no interest. Although the Price Earnings ratios in Colombo were very high, the inherent growth potential here made the market attractive.



Political stability and the fact that there was no likelihood of the war resuming were major pluses, he noted.



The group had a meeting with Central Bank Governor Ajith Nivard Cabraal during the visit when the question of possible privatization of government owned companies here came up.



Cabraal said that privatization was not on the government’s agenda.



Balendra explained that the question that had actually been raised was the possibility of state owned companies being listed on the CSE.



Some of these, including SriLankan Catering, a fully owned subsidiary of SriLankan Airlines with a monopoly of airline catering at the BIA, is up for quotation on the CSE in the short term, well informed sources said.



This listing is likely to be worth around Rs.5 billion, well informed sources said.


Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
Up to sometime back JK Stockbrokers used to publish their research reports in the web site and anybody can have look at it. Now they stop it, is they send regular research reports to their clients now?

econ

econ
Global Moderator
good prospects for JKSB having a deal with top invesment banks like suisse.

Aamiable


Vice President - Equity Analytics
Vice President - Equity Analytics
@ruwa925 wrote:John Keells Stockbrokers, a leading player in the country’s stockbroking industry, has tied up with a major Swiss bank, Credit Suisse, which last week brought ten foreign funds here to take a look at Sri Lanka companies and investment opportunities. Credit Suisse is rated among the world’s top banks. Mr. Dumith Fernando, Managing Director and Chief Operating Officer of Credit Suisse Asia Pacific based in Hong Kong, brought the fund managers here on a visit that coincided with the World Cup cricket.



Mr. Krishan Balendra, President of John Keells Capital, said that instead of having workshop/seminar style discussions, the representatives of the various participating funds visited several top companies including JKH, Commercial Bank, HNB, Aitken Spence, Distilleries, Dockyard and Royal Ceramics where they had discussions with senior managers.



"All but one of the ten funds who were here have no experience in the Sri Lanka market," Balendra said.



Asked whether the visiting funds had problems about the strength of the SL market, Fernando who lived and worked in the US before transferring to Hong Kong, answered in the negative.



"They have no problems with the strength of the market but have some problems on the question of liquidity," he said.



He said that the market had moved recently on stocks in which his clients had no interest. Although the Price Earnings ratios in Colombo were very high, the inherent growth potential here made the market attractive.



Political stability and the fact that there was no likelihood of the war resuming were major pluses, he noted.



The group had a meeting with Central Bank Governor Ajith Nivard Cabraal during the visit when the question of possible privatization of government owned companies here came up.



Cabraal said that privatization was not on the government’s agenda.



Balendra explained that the question that had actually been raised was the possibility of state owned companies being listed on the CSE.



Some of these, including SriLankan Catering, a fully owned subsidiary of SriLankan Airlines with a monopoly of airline catering at the BIA, is up for quotation on the CSE in the short term, well informed sources said.



This listing is likely to be worth around Rs.5 billion, well informed sources said.




CSE would register a sustainable growth when the market reflects corporate eanings accuratly,

"the representatives of the various participating funds visited several top companies including JKH, Commercial Bank, HNB, Aitken Spence, Distilleries, Dockyard and Royal Ceramics where they had discussions with senior managers."




CSE would register a sustainable growth when the market reflects corporate earnings accurately,

"the representatives of the various participating funds visited several top companies including JKH, Commercial Bank, HNB, Aitken Spence, Distilleries, Dockyard and Royal Ceramics where they had discussions with senior managers."



Renewed interest in liquid shares is a positive signal for a sustainable growth. Sri Lankan funds and retailers also now focus their attention on that PLCs. Long term sustainable growth can be achieved through fundamentals. It is important to educate the public on these aspects to maintain the good reputation of the CSE to attract foreign investments.



Aamiable


Vice President - Equity Analytics
Vice President - Equity Analytics
@econ wrote:good prospects for JKSB having a deal with top invesment banks like suisse.


It is the time to think about the current stand of the Colombo Stock Exchange, fundamentals, good reputation of the CSE, reliability, sustainability, corporate earnings, investor confidence and about the long term growth of the market. If the investors focus attention on these aspects CSE can be protected and prevailed as one of the best places to invest under current global circumstances for several years to come.

mjrocker


Senior Equity Analytic
Senior Equity Analytic
Ya,they sending dayly,weekly updates and research repots to my e mail

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
@mjrocker wrote:Ya,they sending dayly,weekly updates and research repots to my e mail


Thanks for the information, that mean now their research report limited to their clients only

kiri

kiri
Manager - Equity Analytics
Manager - Equity Analytics
@mjrocker wrote:Ya,they sending dayly,weekly updates and research repots to my e mail
please inform us,when it is significant.

ss7097

ss7097
Manager - Equity Analytics
Manager - Equity Analytics
I'm dealing with Asha Philips but never received their research reports. Anyone who is dealing with Asha Philips gets their research reports? To whom I've to contact in their head office?

abra12


Manager - Equity Analytics
Manager - Equity Analytics
@ss7097 wrote:I'm dealing with Asha Philips but never received their research reports. Anyone who is dealing with Asha Philips gets their research reports? To whom I've to contact in their head office?
I never receive any reports from Asha Philips.I am Trading with them.

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
http://www.ft.lk/2011/03/07/mega-funds-discover-lanka/

Soundchips


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@Gaja wrote:http://www.ft.lk/2011/03/07/mega-funds-discover-lanka/


Foreign funds seem to focus on those PLCs. They have met John Keells Holdings, Commercial Bank of Ceylon, Aitken Spence Holdings, Dialog Axiata, Hatton National Bank, Distilleries Company of Sri Lanka, Royal Ceramics Lanka, Colombo Dockyard, Softlogic Holdings and Expo Lanka Holdings.

ShareShares


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@ruwa925 wrote:John Keells Stockbrokers, a leading player in the country’s stockbroking industry, has tied up with a major Swiss bank, Credit Suisse, which last week brought ten foreign funds here to take a look at Sri Lanka companies and investment opportunities. Credit Suisse is rated among the world’s top banks. Mr. Dumith Fernando, Managing Director and Chief Operating Officer of Credit Suisse Asia Pacific based in Hong Kong, brought the fund managers here on a visit that coincided with the World Cup cricket.



Mr. Krishan Balendra, President of John Keells Capital, said that instead of having workshop/seminar style discussions, the representatives of the various participating funds visited several top companies including JKH, Commercial Bank, HNB, Aitken Spence, Distilleries, Dockyard and Royal Ceramics where they had discussions with senior managers.



"All but one of the ten funds who were here have no experience in the Sri Lanka market," Balendra said.



Asked whether the visiting funds had problems about the strength of the SL market, Fernando who lived and worked in the US before transferring to Hong Kong, answered in the negative.



"They have no problems with the strength of the market but have some problems on the question of liquidity," he said.



He said that the market had moved recently on stocks in which his clients had no interest. Although the Price Earnings ratios in Colombo were very high, the inherent growth potential here made the market attractive.



Political stability and the fact that there was no likelihood of the war resuming were major pluses, he noted.



The group had a meeting with Central Bank Governor Ajith Nivard Cabraal during the visit when the question of possible privatization of government owned companies here came up.



Cabraal said that privatization was not on the government’s agenda.



Balendra explained that the question that had actually been raised was the possibility of state owned companies being listed on the CSE.



Some of these, including SriLankan Catering, a fully owned subsidiary of SriLankan Airlines with a monopoly of airline catering at the BIA, is up for quotation on the CSE in the short term, well informed sources said.



This listing is likely to be worth around Rs.5 billion, well informed sources said.




Interesting reading. MPI is picking up

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
I also feel for the long term sustainability big funds needed, and already one investor came with acquisition of LHCL, and if they can bring this investors also then there will be more funds will come to the market after continuous foreign selling, CT Private Placement also bringing some foreign fund to the market

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