FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka


Submit PostSubmit Post
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post



Latest topics

» TRUE VALUE OF LANKA ALUMINUM INDUSTRY (LALU)
by Jana Today at 4:40 pm

» පෙබරවාරි මාසේ කොළඹ කොටස් වලට මොකක්ද වුනේ - බැසුවාද ? බැස්සාද ?
by xhunter Today at 4:19 pm

» NATIONS TRUST BANK PLC (NTB.N0000)
by chathura123 Today at 3:53 pm

» UNHCR Fear is over 21 countries speak for us only 15 against
by Vishwanarth Today at 11:14 am

» Daily Foreign Transactions
by Mithooshan Today at 7:31 am

» SOFTLOGIC HOLDINGS PLC (SHL.N0000)
by suku502 Today at 12:58 am

» DFCC will be receiving Rs.594,538,285.50
by Wonderer Yesterday at 7:49 pm

» UNHCR එකේ ලොකූ ටෝක දැම්මට සමහර ඔස්තාර් ලා කියන ආර්තික සම්භාදක අරවා මේවා මුකුත් එන්නේ නැ
by Vishwanarth Yesterday at 6:27 pm

» BROWNS INVESTMENTS PLC (BIL.N0000)
by samaritan Yesterday at 9:45 am

» GLAS will be winner with Super Gain.
by Eranga87 Yesterday at 2:00 am

» If you are one of those people who can sleep at night while someone else is in control of your destiny, then my advice would be to only invest in stocks
by Asoka Samarakone Thu Feb 25, 2021 9:58 pm

» Price prediction on GRAN and TAFL
by Bakkabwoi Thu Feb 25, 2021 6:22 pm

» SEMB SEMB
by stockchaser Thu Feb 25, 2021 2:57 pm

» EXPOLANKA HOLDINGS PLC (EXPO.N0000)
by Vishwanarth Thu Feb 25, 2021 2:54 pm

» Bullish sentiment returns with market regulator's assurance
by Vishwanarth Thu Feb 25, 2021 2:52 pm

» DIPD/HAYC/HAYL
by Wickyz Thu Feb 25, 2021 1:19 pm

» Chart 25.02.2021
by stockback Thu Feb 25, 2021 12:41 pm

» is it a good time to sell expo shares
by Kipling Thu Feb 25, 2021 8:39 am

» Current 2021 Februray Unit Trust/Unit Fund Per Annum percentages
by agentnrox Thu Feb 25, 2021 8:13 am

» Leading brokers causing market downturn
by Mithooshan Thu Feb 25, 2021 7:40 am

EXPERT CHRONICLE™

ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

CHRONICLE™ NEWS PRODUCTS

FINANCIAL CHRONICLE™

Views & Reviews, Analysis, Evaluations, Discussions, Gossip and Hot Tips relating to Sri Lankan companies listed on the Colombo Stock Exchange (CSE)
Contribute




DAILY CHRONICLE™

Latest news and articles published in Newspapers, Websites, Blogs and other online news sites relating to business and investments in Sri Lanka
Contribute



ECONOMIC CHRONICLE™

This is a section that provide news, views, analysis, predications relating to Political and Socio-Economic factors and how such activities affect the Stock Market and other economic activity of the Country.

Contribute




EXPERT CHRONICLE™

This is an exclusive section for Expert Articles which will help member to share knowledge through comments and responses of the members. All members are allowed to reply and make comments to these articles.

Contribute


Submit Post


CHRONICLE™ YouTube

Youtube Videos and other visual presentations relating Stock market and other investment advise submitted by members or other contributors.

Contribute


Submit Post


කොළඔ කොටස් වෙළඳපොළේ වංශකථාව
කොළඔ කොටස් වෙළඳපොළේ ලැයිස්තුගත සමාගම් කොටස් ගැන තොරතුරු¸විශ්ලේෂණ¸සාකච්ඡා¸ කටකතා¸රසකතා යන සියල්ල අපේම සිංහලෙන් කතා කළ හැකි ‘කතා මණ්ඩපය’

Contribute

Twitter Feeds
POPULAR COMPANIES
A

ABANS ELECTRICALS PLC

ACCESS ENGINEERING PLC Hot

ACL CABLES PLC

ACL PLASTICS PLC

ACME PRINTING & PACKAGING PLC

AGSTAR PLC

AITKEN SPENCE HOTEL HOLDINGS PLC

AITKEN SPENCE PLC

ANILANA HOTELS AND PROPERTIES PLC

ARPICO INSURANCE PLC

ASIA ASSET FINANCE PLC

ASIA CAPITAL PLC

B

BAIRAHA FARMS PLC

BALANGODA PLANTATIONS PLC

BIMPUTH FINANCE PLC

BLUE DIAMONDS JEWELLERY WORLDWIDE PLC

B P P L HOLDINGS PLC

BROWNS BEACH HOTELS PLC

BROWNS INVESTMENTS PLC

C

CARGO BOAT DEVELOPMENT COMPANY PLC

CENTRAL INDUSTRIES PLC

CEYLON COLD STORES PLC

CEYLON GRAIN ELEVATORS PLC Hot

CEYLON TEA BROKERS PLC

CEYLON TOBACCO COMPANY PLC

CHEVRON LUBRICANTS LANKA PLC

COLOMBO FORT LAND & BUILDING PLC

COMMERCIAL BANK OF CEYLON PLC

CITRUS LEISURE PLC Hot

COMMERCIAL CREDIT AND FINANCE PLC

D

DANKOTUWA PORCELAIN PLC

DFCC BANK PLC

DIALOG AXIATA PLC

DIALOG FINANCE PLC

DIPPED PRODUCTS PLC

DISTILLERIES COMPANY OF SRI LANKA PLC

DUNAMIS CAPITAL PLC

E

EAST WEST PROPERTIES PLC Hot

EASTERN MERCHANTS PLC

EXPOLANKA HOLDINGS PLC

E-CHANNELLING PLC

F

FIRST CAPITAL HOLDINGS PLC

G

GALADARI HOTELS (LANKA) PLC

GUARDIAN CAPITAL PARTNERS PLC

H

HATTON NATIONAL BANK PLC

HAYLEYS PLC

HAYLEYS FABRIC PLC

HAYLEYS FIBRE PLC Hot

HEMAS HOLDINGS PLC

HIKKADUWA BEACH RESORT PLC

HNB ASSURANCE PLC

HVA FOODS PLC

J

JANASHAKTHI INSURANCE COMPANY PLC

JOHN KEELLS HOLDINGS PLC Hot

JOHN KEELLS HOTELS PLC

L

LANKA ASHOK LEYLAND PLC

LANKA IOC PLC

LANKEM CEYLON PLC

LANKEM DEVELOPMENTS PLC

LAUGFS GAS PLC

LAUGFS POWER LIMITED

LOLC FINANCE PLC

LOLC HOLDINGS PLC

LUCKY LANKA MILK PROCESSING COMPANY PLC

M

MELSTACORP PLC

N

NATIONAL DEVELOPMENT BANK PLC

NATION LANKA FINANCE PLC

NESTLE LANKA PLC

O

ORIENT FINANCE PLC

OVERSEAS REALTY (CEYLON) PLC

P

PANASIAN POWER PLC

PEOPLE'S LEASING & FINANCE PLC

PIRAMAL GLASS CEYLON PLC

PRIME FINANCE PLC

R

RAIGAM WAYAMBA SALTERNS PLC

RENUKA AGRI FOODS PLC

RENUKA CAPITAL PLC

RENUKA HOLDINGS PLC

RICHARD PIERIS AND COMPANY PLC

RICHARD PIERIS EXPORTS PLC Hot

ROYAL CERAMICS PLC

S

SAMPATH BANK PLC

SEYLAN BANK PLC

SIERRA CABLES PLC

SINGHE HOSPITALS PLC Hot

SMB LEASING PLC

SOFTLOGIC HOLDINGS PLC

SOFTLOGIC LIFE INSURANCE PLC

SRI LANKA TELECOM PLC

SWISSTEK (CEYLON) PLC Hot

T

TEEJAY LANKA PLC

TESS AGRO PLC

THREE ACRE FARMS PLC

TOKYO CEMENT COMPANY (LANKA) PLC Hot

U

UNION BANK OF COLOMBO PLC

V

VALLIBEL FINANCE PLC

VALLIBEL ONE PLC Hot

VALLIBEL POWER ERATHNA PLC

W

WASKADUWA BEACH RESORT PLC


You are not connected. Please login or register

FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » ‘Ten point plan’: no kidding

‘Ten point plan’: no kidding

Go down  Message [Page 1 of 1]

1‘Ten point plan’: no kidding Empty ‘Ten point plan’: no kidding Sun Jan 20, 2013 11:59 pm

sriranga

sriranga
Co-Admin
SEC’s new set of priorities spelt out in a plan are nice, but the challenges it faces are far greater than represented in the 10 key tasks

By Shamindra Kulamannage

It’s encouraging, despite the challenges besieging it, that the SEC has not lost its sense of humor. On the home page of its website against an orderly school of fish framed against turquoise water it claims to be "regulating with a firm hand and reinforcing investor confidence, we have led the way in creating and maintaining a disciplined and orderly securities market." Anyone who had an eye on the unfolding drama in the last two years, when two SEC chairpersons had to leave office, may be excused for their hysterical fits of laughter. That and other statements exemplifying the agency’s high calling like, "We protect investors, offer security and operate a securities market based on fairness to facilitate a level playing field to all stakeholders," just goes to demonstrate the disconnect between the securities regulator’s perceived role and reality.

In the whole mêlée that undermined the securities regulator a number of well connected individuals intent in bending the stock market to their will and their crummy stockbroker friends established an unholy primacy with the SEC.

So when the regulator unveiled a 10 point plan to develop capital markets, the ambivalence of serious market participants to the rhetoric shouldn’t come as a surprise. There are two reasons for skepticism. Firstly the market has seen too many of these plans and no action whatsoever in over a decade for one to be taken seriously now. Secondly the challenge facing Sri Lanka’s capital markets are far more serious and of a more fundamental nature than can be addressed by the proposed plan.

For almost a century since the Colombo Brokers Association started trading shares in companies with limited liability, investment success was more about knowing someone privy to inside information than it was about a process of rigorous analysis. Some analysts point out that not much has changed despite the setting up of a regulator whose sole purpose is to ensure ‘that securities can be issued and traded in a fair manner’. None other than the former SEC Chairman Tilak Karunaratne, who had a front row seat to the on goings in Sri Lanka’s tiny capital market, described it as a ‘den of thieves’.

In a plan unveiled in partnership with the Colombo Stock Exchange, the securities regulator has undertaken afresh to implement pretty much every single policy that’s evaded action so far like amending its act – hopefully allowing it to impose sanctions commensurate with the seriousness of the crimes committed -, strengthen risk management at brokerages and such like proposals. However this comes in the backdrop of the agency having given in to demands by some brokers for easing rules allowing a freer flow of credit.

To regain lost confidence the regulator however should urgently turn its attention to its core challenges. One former SEC Chairman has clearly articulated the scale of that challenge. It needs to demonstrate the agency’s independence by perusing with rigour investigations against market manipulators. It would indeed turn to pulp its existing act and slide the agency in to further ridicule if investigations draw a blank or drag on any longer than they already have.

The prosperity of stockholders is beyond the regulators ability to ensure. If listed companies thrive because the economy grows, the country is well governed, and laws and regulations are respected, then stock holders will thrive because higher profits may push up share prices. Often this basic logic is forgotten when regulators and brokers promote the market as some get rich quick scheme.

In its 10 point plan SEC proposes encouraging more listings, attracting new funds, developing the corporate debt market, encouraging mutual funds as a conduit for mobilizing savings of less sophisticated investors and developing new products. Many of these will be contingent on a level playing field being available. Otherwise no local investor will feel safe in the market and no foreign portfolio fund will care to even look at it.

Instead of enduring the ignominies of the population, the SEC Chairman, its commissioners and senior staff should urgently address the fundamental challenges it faces. Or else the statements on the SEC website articulating its high calling, will remain comic relief in a market left ravaged by crooks.

(Courtesy: Echelon, Sri Lanka’s latest business magazine available for sale at Keells Supermarkets and bookshops. Echelon, published monthly, covers in-depth Sri Lanka’s most successful businesses, examining their winning strategies and profiling their leaders. It aims to set the benchmark for business reporting among magazines.)
http://island.lk/index.php?page_cat=article-details&page=article-details&code_title=70794

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

2‘Ten point plan’: no kidding Empty Re: ‘Ten point plan’: no kidding Mon Jan 21, 2013 10:15 am

Sidath

Sidath
Manager - Equity Analytics
Manager - Equity Analytics
the 10 point plan is nothing but the old capital market master plan which the SEC talked about years ago.

If there is a focused attempt at implementing them I'm happy, but the fundamental issue affecting the CSE is confidence.

3‘Ten point plan’: no kidding Empty Re: ‘Ten point plan’: no kidding Tue Jan 22, 2013 5:22 pm

hettihewa


Senior Equity Analytic
Senior Equity Analytic
@Sidath wrote:the 10 point plan is nothing but the old capital market master plan which the SEC talked about years ago.

If there is a focused attempt at implementing them I'm happy, but the fundamental issue affecting the CSE is confidence.

You are absolutely right Sidath . When 10 point action plan was launched SEC chairman openly told the press that it is nothing new but a focused attempt to implement best ideas of the industry. What Sri Lanka has always lacked is implementation effort. So we must appreciate this effort rather than being critical.

Those who do absolutely nothing by themselves are the best critics of everything.

Sponsored content


Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum