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Sri Lankan President meets stock market stakeholders

+5
notme
Whitebull
Slstock
Redbulls
sriranga
9 posters

Go down  Message [Page 1 of 1]

sriranga

sriranga
Co-Admin

Sri Lankan President Mahinda Rajapaksa today met with the stakeholders of the local stock market to discuss the current status of the Colombo Stock Exchange.

Finance Secretary Dr. P. B. Jayasundera, senior officials of the SEC and CSE, representatives of the Stock brokering firms and investors have taken part in this discussion which has lasted for nearly two hours.

During the meeting, the Brokers have forwarded proposals seeking more leverage on broker credit and also easing of certain trading regulations imposed by the SEC.

An Industry figure who attended the meeting said, during the discussion, the broker community blamed the SEC for bringing in ad-hoc regulations to the system thus resulting in the current slide in the market.

SEC officials in response have defended themselves outlining the reasons for their actions.

They have also pointed out the loopholes existing in the current law governing the industry.

Amidst arguments and counter arguments, the meeting has ended without any commitment given by the government of easing regulations or giving more leverage in the areas of broker credit.

A source who attended the meeting said “Nothing came out of the meeting”.

However he said, Finance Secretary Dr. P. B. Jayasundera has told the brokers that the meeting was also aimed at getting views of the industry to prepare the year 2013 budget presentation.

http://www.news360.lk/markets/stock-market/news-sri-lanka-20-07-2012-president-holds-meeting-with-stock-market-stakeholders-998765

http://sharemarket-srilanka.blogspot.co.uk/

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics

So that means, those who bought speculative shares during the last 2-3 days??

Thanks for the breaking news.

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics

"Pus Wedilla" ?

Well atleast the "high powered" crowd will be more aware of the current woes after whatever this discussion was and they will keep in mind the situation for the budget . Hope it will benefit the long term economics and CSE.

They should also remember that stock market is also a mirror showing Country's growth and prospects. It wise to also think about while upping the economy , seeing how the current company performance is reflected in share market Either massive bear or massive bulls is what we always see. Does the big bear now show our company status in any way.

BTW, think CSE has not yet updated he market PEs. Think it is still around 13.

Whitebull


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Redbulls wrote:So that means, those who bought speculative shares during the last 2-3 days??

Thanks for the breaking news.

This meeting was actualy for those who bought speculative shares during last 1 - 2 weeks.

5Sri Lankan President meets stock market stakeholders Empty No result meeting Fri Jul 20, 2012 6:49 pm

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics

The meeting between stock market stakeholders and President Mahinda Rajapaksa ended without any significant outcome today, as predicted by a number of independent analysts.

According to informed sources, the President had given a patient hearing to all the parties and emphasized that this would be the last time he will listening to their grievances, noting that the Treasury Secretary would hereafter intervene in the case of market related malpractices.

“The only useful outcome of the meeting was the President making a requestto stock brokers to submit market proposals for the budget 2013, thatis to be presented in November.

In addition to stock brokers, high net worth investors, Commissioners of the Securities and the Exchange Commission (SEC) and the Board of Directors of the Colombo Stock Exchange (CSE) and several other top corporate personalities, small share holder rights activists and a former SEC Chairman attended the meeting.

Treasury Secretary got the ball rolling and said the meeting was convened mainly to get views from all the parties concerned about Colombo bourse issues and its development.

Investor Dilith Jayaweera made a presentation highlighting how recent SEC regulations contributed to the downfall of the market. However, the charges leveled by Jayaweera about an overregulated market was countered by a former SEC Chairman C.P. De Silva citingthat nobody linked with misconduct cases wasgivena prison sentence during the past 25 years.

Representing brokers, Colombo Stock Brokers Chairman (CSBA) Sriyan Gurusinghe, Tushan Wickramasinghe also spoke about the over regulation and the lack of positive sentiment in the Colombo bourse while JB Securities CEO Murtaza Jafferjeegave different reasons for the market setback.

Following the speeches by brokers, several others including minor share holder rights activists K.C Vignarajah also spoke. Finally, Chairman Tilak Karunaratne stressed that the Colombo bourse is an under-developed market and emphasized the need to introduce international standards in terms of regulation and risk mitigation.
http://dailymirror.lk/news/20464-no-result-meeting-.html

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics

Whitebull wrote:
Redbulls wrote:So that means, those who bought speculative shares during the last 2-3 days??

Thanks for the breaking news.

This meeting was actualy for those who bought speculative shares during last 1 - 2 weeks.

May be you are right.
Anyway those who are going to hurt themself seems to be those who bought last couple of days.
We'll see.

7Sri Lankan President meets stock market stakeholders Empty any news regarding today's meeting ? Fri Jul 20, 2012 8:06 pm

notme

notme
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

anybody knows something ? please share what you know. Question Question Question Question Question Question

notme

notme
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics


Sri Lankan President Mahinda Rajapaksa today met with the stakeholders of the local stock market to discuss the current status of the Colombo Stock Exchange.
Finance Secretary Dr. P. B. Jayasundera, senior officials of the SEC and CSE, representatives of the Stock brokering firms and investors have taken part in this discussion which has lasted for nearly two hours.
During the meeting, the Brokers have forwarded proposals seeking more leverage on broker credit and also easing of certain trading regulations imposed by the SEC.
An Industry figure who attended the meeting said, during the discussion, the broker community blamed the SEC for bringing in ad-hoc regulations to the system thus resulting in the current slide in the market.
SEC officials in response have defended themselves outlining the reasons for their actions.
They have also pointed out the loopholes existing in the current law governing the industry.
Amidst arguments and counter arguments, the meeting has ended without any commitment given by the government of easing regulations or giving more leverage in the areas of broker credit.
A source who attended the meeting said “Nothing came out of the meeting”.
However he said, Finance Secretary Dr. P. B. Jayasundera has told the brokers that the meeting was also aimed at getting views of the industry to prepare the year 2013 budget presentation.

http://www.news360.lk

hariesha


Vice President - Equity Analytics
Vice President - Equity Analytics

slstock wrote:"Pus Wedilla" ?

Well atleast the "high powered" crowd will be more aware of the current woes after whatever this discussion was and they will keep in mind the situation for the budget . Hope it will benefit the long term economics and CSE.

They should also remember that stock market is also a mirror showing Country's growth and prospects. It wise to also think about while upping the economy , seeing how the current company performance is reflected in share market Either massive bear or massive bulls is what we always see. Does the big bear now show our company status in any way.

BTW, think CSE has not yet updated he market PEs. Think it is still around 13.

Current PE is arround 10.65. (Refer latest market report presented at the recent seminar by Acuity)

notme

notme
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

officials have said that it was focused on 2012 budget proposal .but i think other way .they are completely failed to take any decisions regarding the stock market poser .i guess this type things can effect badly in current condition. on my view, these nonsense could not have happened when the the market seems stable. people may think only hope has gone.that is terrible. Sleep Sleep Sleep Sleep

bestofluck


Equity Analytic
Equity Analytic

They should allow the market to behave as it is without further rules and controls. It's better if they could bring down the interest rates of the country it will be benifited not only the sharemarket investers majoarity of the people in the country.

K.Haputantri

K.Haputantri
Co-Admin

Following are some of the questions I have about the so called meeting. We deserve comprehensive answeres from those who instigated this meeting.

(1) ?What a five star democracy- suspected market manipulators are not only allowed to sit side-by-side the regulator but also allowed to accuse him of regulating the bourse in front of the high govt., officials. ?What is the purpose of inviting them to the meeting.

(2) ?What is the actual motive of this meeting- to slow-down the investigations or suspend them altogether. If it was to discuss the budget then what were the proposals put forward by the participants.

(3) ?What type of regulation can one expect from the regulator under the circumstances.

wiki


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

K.Haputantri wrote:Following are some of the questions I have about the so called meeting. We deserve comprehensive answeres from those who instigated this meeting.

(1) ?What a five star democracy- suspected market manipulators are not only allowed to sit side-by-side the regulator but also allowed to accuse him of regulating the bourse in front of the high govt., officials. ?What is the purpose of inviting them to the meeting.

(2) ?What is the actual motive of this meeting- to slow-down the investigations or suspend them altogether. If it was to discuss the budget then what were the proposals put forward by the participants.

(3) ?What type of regulation can one expect from the regulator under the circumstances.

To achieve no 2 . They all are their allies

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