The first to be held since the assumption of the new Government, the ‘Invest Sri Lanka’ forum at The Savoy Hotel, London is expected to draw over 100 institutional investors. The London forum is being held just after a breakfast meeting in Zurich on Wednesday to promote Sri Lanka’s new investment profile.
The last Sri Lanka Invest Forum in London was a major success and was part of several road shows held covering cities such as New York, Singapore, Mumbai and Dubai.
Held in association with Bloomberg, the London event will feature 12 listed companies which will each host one-on-one or group meetings. The companies attending are John Keells Holdings PLC, Commercial Bank of Ceylon PLC, Hatton National Bank PLC, National Development Bank PLC, Dialog Axiata PLC, Carsons Cumberbatch PLC, Lion Brewery (Ceylon) PLC, People’s Leasing & Finance PLC, Softlogic Holdings PLC, Tokyo Cement PLC, Singer Sri Lanka PLC , MTD Walkers PLC and Sunshine Holdings PLC.
Finance Minister Ravi Karunanayake will deliver the keynote address at the London forum, while Colombo Stock Exchange Chairman Vajira Kulatilaka and Securities and Exchange Commission of Sri Lanka (SEC) Director General Vajira Wijegunerwardane will make presentations on the opportunities in the capital market and the regulatory framework, respectively.
A macroeconomic overview of the country will be provided by Copal Amba (a Moody’s subsidiary) Country Head – Sri Lanka Chanakya Dissanayake. The main presentations will be followed by a panel discussion and question and answer session with the audience. Acting High Commissioner to the United Kingdom Dr. Chanaka Talpahewa will also address.
Today’s forum will also feature presentations by London Stcok Exchange Chief Executive Officer and Director of International Development Nikhil Rathi and Stewart Investors Ashish Swarup will share his company’s experience of investing in the Sri Lankan capital market.
Though the Colombo stock market has offered a negative return year to date (in terms of ASI 3% as of Monday) and net foreign outflow is around Rs. 3 billion, the CSE, brokers as well listed firms believe there is upside in the medium to long term for foreign investors.
The CSE said the combined attendance at the forums numbers nearly 200 and includes major institutional investors with assets under management of $ 110 million or above.