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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » CSE THIS WEEK

CSE THIS WEEK

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21CSE THIS WEEK - Page 2 Empty Re: CSE THIS WEEK Thu Dec 13, 2018 10:05 am

samaritan


Moderator
Moderator
@samaritan wrote:Best rules to follow at CSE under UNP rule:

BUYING IS BURNING CASH!
SELLING IS SAVING CASH!

Decision is yours to burn or save.
Reminder: Decision is yours to make.

22CSE THIS WEEK - Page 2 Empty Re: CSE THIS WEEK Thu Dec 13, 2018 10:26 am

ruwan326


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@samaritan wrote:Best rules to follow at CSE under UNP rule:

BUYING IS BURNING CASH!
SELLING IS SAVING CASH!

Decision is yours to burn or save.

So what is is the rule under MS-MR @CSE?????? Rolling Eyes

23CSE THIS WEEK - Page 2 Empty Re: CSE THIS WEEK Thu Dec 13, 2018 11:03 am

ruwan326


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Industrial Production Index up 2.8% in October
Thursday, December 13, 2018 


CSE THIS WEEK - Page 2 Z_pi-Industrial CSE THIS WEEK - Page 2 WAAACH5BAEKAAAALAAAAAABAAEAAAICRAEAOw==
According to the Department of Census and Statistics, the Index of Industrial Production (IIP) has increased by 2.8% in October 2018 in comparison to the same month in 2017. The IIP reported for the month of October in 2018 and 2017 were 111 and 108 respectively.

In terms of manufacturing industry 10 out of 20 industry groups have shown positive growth in volumes of production. The industry groups: Beverages, manufacture of other non metallic mineral products and manufacture of textiles have shown remarkable increase of 27.4%, 11.4% and 10 % respectively in their volume of production. The volume of food products has increased by 0.3%.



Among the 10 industries recorded a negative growth in volume of production of manufacturing industries: manufacture of paper products, manufacture of electrical equipments and manufacture of wood and products of wood and cork except furniture’ have reported negative growth rates of 37.4%, 24.2% and 20.9% respectively.

​​​​​​​http://www.dailynews.lk/2018/12/13/business/171187/industrial-production-index-28-october

24CSE THIS WEEK - Page 2 Empty Re: CSE THIS WEEK Tue Dec 18, 2018 9:29 am

ruwan326


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Sri Lanka industrial activity up 2.8-pct in October

Dec 17, 2018 

Industrial activity in Sri Lanka grew 2.8 percent from a year earlier in October 2018 with growth across most major sectors, the state statistics office said.
The Index of Industrial Production compiled by the Census and Statistics Department grew to 111 points in October from 108.6 points a year earlier.
An index value over 100 shows a growth compared to the base year of 2015.

Activity during October is usually one of the highest, ahead of the December holiday season.
Food production, which is estimated to make up 35.2 percent of all value-added industrial activity, grew 0.3 percent from a year earlier to 104.9 points.
The second largest apparel manufacturing industry which encompasses 19.8 percent of activity, grew 8.2 percent to 122 points.

Manufactory of other non-metallic mineral products (7.8 percent of industrial activity) grew 11.4 percent to 123.2 points.
Coke and refined petroleum production, which is 7.4 percent of industrial activity, grew 8.5 percent to 114.4 points.
Rubber and plastic production manufacturing, the fifth largest industry with 5.7 percent of production, grew 6.4 percent to 119.9 points.

Beverage production was the highest growing industry in October, up 27.4 percent to 107.8 points. However, this made up just 3.8 percent of the country's industry.
Paper and paper products manufacturing (1.7 percent of industrial activity) fell 37.4 percent to 75.2 points.

​​​​​​​https://economynext.com/Sri_Lanka_industrial_activity_up_2.8_pct_in_October-3-12920-4.html

25CSE THIS WEEK - Page 2 Empty Re: CSE THIS WEEK Tue Dec 18, 2018 10:00 am

ruwan326


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Hayleys Energy commences first oil and gas drillship lay-up at Hambantota, Sri Lanka 

Dec 17, 2018 


Sri Lanka’s Hayleys Energy Services announced the arrival of the oil and gas drillship “Aban Abraham” for a warm lay-up to the Hambantota International Port.
Aban Offshore Limited, the company that own the vessel, is India’s largest offshore drilling services provider to oil companies, providing drilling operations, production and exploratory work worldwide.

Hayleys Energy Services, a subsidiary of Sri Lankan blue-chip conglomerate Hayleys PLC’s transportation and logistics arm – Hayleys Advantis Limited, had competed with several players from established lay-up service destinations in the region to win the country’s first ever drill ship lay-up project.

Heralding Sri Lanka’s entry into the global oil and gas marine vessel lay-up services industry, this opens the doors to a world of new opportunities for the nation’s shipping industry.

“Projects of this nature have a significant impact on the economy as a whole, creating business and employment opportunities beyond the enterprises directly involved in it. The leadership, commitment and world class facilities of the Hambantota International Port Group (HIPG) have been a key factor in the success of this project bid and will go a long way in helping us attract long-term businesses such as this,” said Ruwan Waidyaratne, Managing Director – Hayleys Advantis Limited. He went on to say, “Whilst commending the Hayleys Energy Services team for successfully competing with service providers from across the region and bagging this project, I look forward to seeing them expand their horizons and soar to greater heights.”

Hayleys Energy Services has set up a permanent office within the Hambantota Port, at the 6th floor of the Sayurupaya Building, the first by an Oil & Gas Services company at this port, in light of this landmark project and the opportunities it is set to bring with it.

Commenting about the initiative taken by Hayleys Energy Services, Saliya Wickramasuriya, Former Director General – Petroleum Resources Development Secretariat (PRDS) said“Hambantota is an excellent location not just for a vehicle transhipment and break bulk hub, but also for a potential regional service and repair centre for the South Asian Oil & Gas industry. My congratulations to Hayleys Energy Services, long time partners with the PRDS in petroleum exploration and production, for kicking this concept off by bringing the drillship Aban Abraham to the port for long-term lay-up and refurbishment. This new area of business for Sri Lanka will help unlock the port’s full potential and no doubt increase employment and knowledge transfer opportunities for the people of Hambantota in the future.”

Meanwhile, Chas Charles, Director / Chief Executive Officer (CEO), Hayleys Energy Services said, “Having offered an extensive range of end-to-end logistics services for the Oil and Gas industry for over 10 years, we are excited to enter the lay-up services domain with this project, the first for a Sri Lankan company. This is indeed a proud moment for the entire Sri Lankan shipping industry.”

The Aban Abraham had called on the Hambantota International Port recently after completing a long drilling assignment in India. The almost 160 meters long vessel is capable of drilling at depths of up to 6,600 feet and has a drilling depth capacity of up to 24,600 feet. It is to be docked at the Port for a minimum of six months, during which lay-up support services and vessel preservation, husbandry, bunkering, crew management and several other marine services will be provided by Hayleys Energy Services.

“We are delighted to have been chosen for this project and would like to thank the management of Aban Offshore Ltd for placing their trust in us. This is indeed a reflection of our team’s knowledge, expertise and service commitment in the Oil & Gas domain. Having delivered complex integrated logistics services for several Oil and Gas projects, we look forward to completing a safe and efficient project by assisting Aban in their lay-up and preservation of the drillship Aban Abraham at Hambantota International Port, Sri Lanka” said Ricky Barnett, General Manager, Hayleys Energy Services. “We would also like to express our sincere appreciation to all stakeholders including the port’s managers – Hambantota International Port Group (HIPG / HIPS), Sri Lanka Immigration & Emigration Department, Sri Lanka Customs, Sri Lanka Navy and Sri Lanka Ports Authority for their continued support in making this historic project possible.”

Earlier this year, the company successfully completed two projects at the Trincomalee Port Anchorage – the offloading of the Semi-Submersible oil rig, Olinda Star and provision of agency services to the heavy lift carrier “GPO Grace” dry towing the Semi-Submersible oil rig “Louisiana” and they also went on to provide offshore ship to ship supplies/logistics services for Transocean Drillship “Dhirubhai Deepwater KG1” at the Colombo Port Anchorage.

Hayleys Energy Services is a subsidiary of Hayleys Advantis Limited, the transportation and logistics arm of Hayleys PLC. Through the wider logistics offering of Hayleys Advantis Limited, the Group caters to diverse logistics needs of its clientele. The company has provided logistics & support services for several projects in the Oil & Gas sector both locally and internationally including supply base management services, seismic and metocean surveys, exploratory drilling, rig repairs & servicing, duty free storage of drill rigs & transportation, and loading, offloading, towing and lay-up services for Oil & Gas rigs and marine asset.

​​​​​​​http://www.lankabusinessonline.com/hayleys-energy-services-commences-sri-lankas-first-oil-and-gas-drillship-lay-up-at-hambantota/

26CSE THIS WEEK - Page 2 Empty Re: CSE THIS WEEK Tue Dec 18, 2018 7:48 pm

ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
China Securities Depository and Clearing Corporation and CDS Sri Lanka
Dec 18, 2018


Sri Lanka’s Central Depository Systems (Pvt) Ltd (CDS) and China Securities Depository and Clearing Corporation Limited (CSDC) recently committed towards pursuing a cooperative relationship in the areas of securities clearing and depository.

This commitment was formalized with the signing of a MoU between the two depositories during a visit by CSDC officials to Sri Lankan recently.

CSDC is a non-profit-oriented corporation with Shanghai Stock Exchange and Shenzhen Stock Exchange as its shareholders, each holding 50% equities.

As CDS and CSDC work together in future, the MoU will pave the way for the depositories to exchange information and expertise on business operating models and other securities market developments.

CSDC Deputy Chairman of the Board Dr. DAI Wenhua said “It is my great pleasure to sign this MoU in the beautiful city of Colombo, which bears vivid witness to the friendly relations that the Chinese and Sri Lankan people have long enjoyed. We appreciate the indispensable role that CDS plays in the Sri Lankan capital market as well as its constructive contribution to the industry in the Asia-Pacific region and look forward to closer ties between our two organizations. “

Commenting on the development, CSE and CDS Chairman Mr. Ray Abeywardena said “With this MoU, we are pleased to establish a formal channel of collaboration with CSDC, which is a depository that plays a crucial role in the Chinese capital market and the rest of the Asian region. We anticipate that the MoU will open new possibilities of collaboration between the two depositories. We are particularly keen to work with CSDC on further developing our clearing and settlement function, particularly in the areas of strengthening registration and settlement infrastructure, capacity building and improving the services offered to stakeholders of the Sri Lankan capital markets. Cooperation with peer depositories and international markets is essential to raising the bar in the Sri Lankan capital market and we pleased to collaborate with CSDC in this regard.”

CSDC is the Central Securities Depository (CSD), Securities Settlement System (SSS) and Central Counterparty (CCP) of the Chinese exchange market. It provides registration, depository, clearing and settlement services to equities, bonds, exchange-traded funds (ETF) and other derivatives listed and traded on Shanghai Stock Exchange (SSE), Shenzhen Stock Exchange (SZSE) and National Equities Exchange and Quotations (NEEQ), and plays a key role in cross-border linkage programmes including Shanghai-Hong Kong Stock Connect, Shenzhen-Hong Kong Stock Connect and the Mutual Recognition of Funds between the Chinese mainland and Hong Kong markets.

http://www.lankabusinessonline.com/china-securities-depository-and-clearing-corporation-and-cds-sri-lanka/

27CSE THIS WEEK - Page 2 Empty Re: CSE THIS WEEK Wed Dec 19, 2018 7:01 am

ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Sri Lanka Perspectives

Even the constitutional crisis and its questionable status did not deter the government from signing two contracts totaling more than $50 million with two Chinese firms. The contract worth $32 million with China Harbour Engineering Company (CHEC) was to enhance the deep berth capacity of the state-run Jaya Container Terminal in Colombo. The other contract worth $25.7 million was for the supply of three cranes from Shanghai Zhenhua Heavy Industries for the same project. India had expressed its concern at the deal earlier as  80 per cent of its marine trade passes through the port.

http://col.hariharan.info/

28CSE THIS WEEK - Page 2 Empty Re: CSE THIS WEEK Wed Dec 19, 2018 8:53 pm

ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Mangala to retain Sri Lanka finance ministry

Dec 19, 2018 


Sri Lanka’s new cabinet is expected to be sworn in Thursday with Mangala Samaraweera retaining the finance and media portfolio in a 30-member cabinet.
Official sources said there was serious wrangling with President Maithripala before Prime Minister Ranil Wickremesinghe could get his list of 30 approved.

There was intense speculation about the law and order ministry with Sirisena insisting that he wanted to retain the subject of the police department under the defence ministry which he controls.
Several ministers of the National Unity Government were being dropped to meet the constitutional requirement of limiting cabinet posts to 30.

Earlier in the week Malik Samarawickrema, Rishad Bathiudeen and Mano Ganeshan had offered to stay out to allow Wickremesinghe to name a scaled down cabinet. 

​​​​​​​https://economynext.com/Mangala_to_retain_Sri_Lanka_finance_ministry-3-12951-10.html

29CSE THIS WEEK - Page 2 Empty Re: CSE THIS WEEK Thu Dec 20, 2018 10:20 am

ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
New cabinet

CSE THIS WEEK - Page 2 Z110
CSE THIS WEEK - Page 2 Z210

30CSE THIS WEEK - Page 2 Empty Re: CSE THIS WEEK Thu Dec 27, 2018 9:36 am

ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Sri Lanka is not Greece, it is a Latin America style soft-peg: Bellwether

By Bellwether

Dec 26, 2018


CSE THIS WEEK - Page 2 Argentina_interest_lgCSE THIS WEEK - Page 2 WAAACH5BAEKAAAALAAAAAABAAEAAAICRAEAOw==

FLOATING INTEREST:  The IMF team (or at least one person who knew pegs), that went into Argentina eventually blew the lid off the 7-day Leliq (term reverse repo rate) after the central bank continued to intervene and print money (sterilize) even with rates at 60-percent.


There are pronouncements that Sri Lanka is like Greece from both sides of the political divide, but that is not correct. Sri Lanka has a Latin America style soft-peg which can put the country on a dangerous slippery slope unlike a strong floating rate like the Euro.

Greece had a debt rollover problem like Sri Lanka and went into sovereign default. There was no problem with the currency or private debt default or disappearing incomes.

The central bank has put Sri Lanka in a Latin America style strait-jacket. Sri Lanka escaped the worst LatAm effects up to now, because there was no large commercial debt. But from 2005, after Sri Lanka started tapping international bond markets everything changed.

What is Greece?

Greece had a monetary union with a strong floating exchange rate, which was the Euro. When it came to light that the Greece had been fudging debt numbers, amid an economic downturn, lenders refused to roll-over debt and there was sovereign default.

Cont... https://economynext.com/Sri_Lanka_is_not_Greece,_it_is_a_Latin_America_style_soft_peg__Bellwether-3-12995-2.html

31CSE THIS WEEK - Page 2 Empty Re: CSE THIS WEEK Fri Dec 28, 2018 9:55 am

ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Marella Cruises vessel calls at Sri Lanka's Colombo port

Dec 28, 2018 


CSE THIS WEEK - Page 2 Marella-Discovery_lgCSE THIS WEEK - Page 2 WAAACH5BAEKAAAALAAAAAABAAEAAAICRAEAOw==

Marella Cruises vessel M V Marella Discovery had called at Sri Lanka's Colombo Port with complement of 1,732 passengers and 764 crew, agents Aitken Spence Shipping Ltd said.
Marella Discovery had sailed from Europe calling at Italy, Crete, Egypt, Jordan, Oman, U.A.E. and India before coming to Sri Lanka and will move on to Malaysia, Thailand and Indonesia.
More than 1,000 passengers had taken tours in Colombo, Galle and a river safari organized by Aitken Spence Travels.
The Malta flagged is 264 in length and 32 meters wide and could accommodate up to 2,074 passengers. 

https://economynext.com/Marella_Cruises_vessel_calls_at_Sri_Lanka_s_Colombo_port-3-13002-6.html

32CSE THIS WEEK - Page 2 Empty Re: CSE THIS WEEK Fri Dec 28, 2018 9:59 am

ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Sri Lanka voted by travel influencers as top destination in Asia for 2019
Dec 28, 2018

A panel consisting of five of the world’s top travel influencers and bloggers has voted Sri Lanka as the top emerging Asian travel destination for 2019. 

The awards were published last week on the site TravelLemming.com, which focuses on emerging and off-the-beaten path travel spots around the globe. 

Winners for the Asian awards were selected by an expert panel consisting of five of the best renowned travel bloggers and influencers in the world, with a combined following on social media of over 750,000.In describing why Sri Lanka won, the article reads: “Sri Lanka has been poised on the edge of tourism popularity for a few years now, and 2019 might finally be the year it pops. 

In fact, it was just named the #1 country in the world to travel to in 2019 by Lonely Planet. And, honestly, it’s hard to disagree with that assessment. From dreamy surf coasts to quiet jungle retreats, to incredible wildlife and history, Sri Lanka has all the makings of one of the greatest travel destinations on the planet.”

One of the judges, Meg Jerrard of the popular travel blog Mapping Megan, is quoted as saying: “Sri Lanka is a mesmerising and magical place with something for everyone, and enough diversity to keep a trip interesting. It has stunning beaches, is a haven for budget travellers, has flavourful food, and there are oodles of heritage, wildlife, and incredible landscapes just waiting to be hiked.”

Other judges on the panel included popular gay travel bloggers Nomadic Boys, hipster travel star Travels of Adam, the San Diego-based Instagram star Hackerette, and the acclaimed travel blogger Otts World. 

Travel Lemming CEO Nate Hake said: “One of the biggest trends in travel these days is the desire of tourists to get off the beaten path. Our six winning destinations in Asia are all great options for wonderful places to explore without the crowds!”

The site TravelLemming.com is dedicated to the promotion of travel to emerging travel destinations. The name lemming derives from the Scandinavian rodent, which is rumoured (falsely) to engage in such mindless group behaviour that it will literally follow fellow lemmings of a cliff to death. Travel Lemming encourages travellers to think beyond the popular destinations and to forge their own path. 

Travel Lemming was started by its founder Nate Hake, an American traveler from Denver, Colorado who is most famous for visiting 43 countries in a single year.

http://www.ft.lk/front-page/Sri-Lanka-voted-by-travel-influencers-as-top-destination-in-Asia-for-2019/44-669694

33CSE THIS WEEK - Page 2 Empty Re: CSE THIS WEEK Fri Dec 28, 2018 10:01 am

ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Sri Lanka CBSL keeps policy rates unchanged


December, 28, 2018

CSE THIS WEEK - Page 2 CBSL-2 CSE THIS WEEK - Page 2 WAAACH5BAEKAAAALAAAAAABAAEAAAICRAEAOw==
The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 27 December 2018, decided to maintain policy interest rates at their current levels. Accordingly, the Standing Deposit Facility Rate (SDFR) and Standing Lending Facility Rate (SLFR) of the Central Bank will remain at 8.00 per cent and 9.00 per cent, respectively.

The Board considered current and expected developments in the domestic economy and the domestic financial markets as well as the global economic environment, with the broad aim of stabilising inflation at mid single digit levels in the medium term to enable the economy to achieve its potential growth.

http://bizenglish.adaderana.lk/sri-lanka-cbsl-keeps-policy-rates-unchanged/

34CSE THIS WEEK - Page 2 Empty Re: CSE THIS WEEK Fri Dec 28, 2018 9:36 pm

ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Export earnings from food and beverages up
Friday, December 28

Earnings from merchandise exports increased by 0.4 per cent (year-on-year) to US dollars 979 million in October 2018. The marginal growth of exports in October reflects mainly the decline in agricultural exports by 11.5 per cent which offset the 4.5 per cent growth of industrial exports.

Under industrial exports, export earnings from textiles and garments increased marginally in October 2018 due to higher earnings from textile exports despite the slight decline registered in garment exports.

The reduced earnings from garment exports was mainly driven by the lower demand from the USA, despite an increase in exports to the EU market and non-traditional markets such as India, Canada, Japan and Hong Kong. Further, reflecting the combined impact of both volume and export prices, earnings from petroleum products increased significantly in October 2018.

Export earnings from food, beverages and tobacco and base metals and articles increased substantially during October 2018 due to improved performance in most of their sub categories.
Meanwhile, earnings from agricultural exports were lower during the month owing to the poor performance in almost all sub categories except seafood, vegetables and rubber.



Reflecting lower average export prices and exported volumes, export earnings from tea declined in October 2018. Export earnings from spices also reduced during the month due to the poor performance in most categories of spices.

Further, despite an increase in earnings from coconut non-kernel products, earnings from coconut exports decreased due to the drop in earnings from coconut kernel products such as desiccated coconut and coconut oil.

However, owing to higher exports to the EU market, earnings from seafood exports rose during the month.
Leading markets for merchandise exports of Sri Lanka in October 2018 were the USA.

​​​​​​​http://dailynews.lk/2018/12/28/business/172533/export-earnings-food-and-beverages

35CSE THIS WEEK - Page 2 Empty Re: CSE THIS WEEK Sat Dec 29, 2018 7:46 am

ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
First Capital increases equity exposure as global funds reversing towards Asia
Dec 28, 2018

First Capital Research has upgraded its equity exposure to 60 percent with the belief that the events that have unfolded globally may benefit Sri Lanka and the equity market over the next few months positively impacting earnings and possibly leading to net foreign inflows.

Over the last 3 months, they have maintained exposure at 50 percent considering earnings hit via depreciation and political unrest affecting the sentiment of the market. During the period, however, the market gained by about 100-120 index points.

“As we step into 2019, we are witnessing the global fund flow reversing towards Asia and commodity prices crashing with the dip in oil prices benefiting the BoP position of Sri Lanka and positively affecting the cost of living,” the firm said.

First Capital Research has also upgraded ASPI volatility expectations to 6,000-6,500 (from previous 5,800 – 6,200), assuming Market PER to be 8.5x – 9.5x.

The firm, however, expects the divergent views between the President and UNF government to continue to affect key policy decisions within the cabinet throughout 2019, up until the Presidential elections due in Jan 2020.

Global growth is expected to slow down during 2019 primarily led by the possible impacts arising out of the trade war between the US and China coupled with the downgrade in growth expected in the US economy.

“The slowdown in the US economy is likely to result in decelerating the Federal Reserve’s interest rate normalization process which may provide some breathing space for weaker Asian economies.“

First Capital Research further said that global fund flow has already started to reverse towards Asia and emerging markets providing a reasonable level of stability to Asian and other emerging markets.

CSE THIS WEEK - Page 2 Equity CSE THIS WEEK - Page 2 WAAACH5BAEKAAAALAAAAAABAAEAAAICRAEAOw==

http://www.lankabusinessonline.com/first-capital-increases-equity-exposure-as-global-funds-reversing-towards-asia/

36CSE THIS WEEK - Page 2 Empty Re: CSE THIS WEEK Sun Dec 30, 2018 7:36 am

ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Small car taxes likely to fall
December 30, 2018

Sri Lanka is mulling to reverse the tax increase on small cars while even mid-sized sedans will become cheaper under a new taxation system following intense pressure and lobbying of motor traders at the end of a political crisis, official sources said.

Amidst concerns expressed by Indian automobile manufacturers, the Finance Ministry is likely to bring down small car duties back to what they were before August 1 or even reduce further especially for cars below 1,500cc engine capacity.
With the aim of curtailing an additional outflow of foreign exchange from vehicle imports, the government is to introduce vehicle engine power output based taxation (engine horse power) criterion in the 2019 interim budget an official source revealed.

The current engine capacity based taxation formula introduced in 2018 budget is to be replaced by engine power output based taxation to prevent tax revenue leakage, a senior Treasury official who wished to remain anonymous told the Business Times.
He said that the current system provided avenues for siphoning out money from the country as the CIF value is now not considered for duty calculations.
This system was helping money launderers and persons who wish to send money out of the country to do so by hooking up an invoice and siphoning out money, putting pressure on the already stressed foreign reserves.

The removal of the ad-valorem calculation method of duty on vehicles and introducing a taxation system of subsidising the duty on super luxury cars has resulted in the coffers losing around Rs. 25-40 million from each of these vehicles.
Confining the duty calculation on vehicles engine capacity and removing the ad-valorem calculation of duty introduced by the budget has resulted in making the super luxury category cheaper.

The previous system of calculating the vehicle import duty on the cost, insurance, freight (CIF) value of the vehicle has brought sizable revenue despite minor leakages owing to the under invoicing of certain importers, he pointed out.

Under the previous system the price invoiced or quoted by a seller includes insurance and all other charges up to the named port of destination, he explained.
With a view of introducing a fair and justifiable system of duty calculations, the Finance Ministry is weighing the pros and cons of the new taxation system linked to the vehicle engine output (Brake Horse Power BHP).
The proposed taxation system will compel the higher end super luxury vehicle buyers to pay a higher duty, closing a tax revenue leakage of the government as well as creating a level playing field and ensuring the survival of all players in the market, the official disclosed

Under the present taxation formula based on engine capacity, the same duty should be levied for different brands of vehicles with same engine capacity, he said adding that the value of those vehicles differ each other in quality standards.

It is not fair to charge the same duty for a 2,000cc Korean-made vehicle purchased for US$20,000 and a European manufactured one with same engine capacity purchased at $35,000, he claimed.
Citing an example, he noted that a European made model car with a CIF value of Rs.5 million (taxed at 130 per cent under the previous system) will be charged with the same duty of a Japanese made model with a CIF value of Rs.2 million (taxed at 300 per cent) thus depriving the government of a duty income of around Rs.7-10 million per vehicle, he added.
The Finance Ministry has focused attention on the additional outflow of foreign exchange on an expensive vehicle which does not bring in sufficient proportion of inflow to state revenue, he said.

​​​​​​​Cont...  
http://www.sundaytimes.lk/181230/business-times/small-car-taxes-likely-to-fall-327230.html

37CSE THIS WEEK - Page 2 Empty Re: CSE THIS WEEK Mon Dec 31, 2018 11:04 am

ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Cruises ferry 72,500 tourists to Sri Lanka
December 31, 2018 

CSE THIS WEEK - Page 2 Z_bus-pi-Cruises CSE THIS WEEK - Page 2 WAAACH5BAEKAAAALAAAAAABAAEAAAICRAEAOw==


Sri Lanka tourism is experiencing an increase of cruise liners calling in Colombo and this is attributing to the increase of tourist arrivals. Throughout 2018, Sri Lanka saw the arrival of 53 cruise liners.

In November 2018, Sri Lanka saw the arrival of three super luxury passenger vessels with combined passenger occupancy of nearly 7,000. Around 72,500 onboard passengers were reported throughout the year.

The super luxury passenger vessel MV Mein Schiff 3 of TUI Cruises with 2,430 passengers and 995 crew made her maiden call at the Port of Colombo on November 26. The vessel was welcomed at the East Container Terminal of Sri Lanka Ports Authority (SLPA).



The Chairman of SLPA Dr. Dissanayake said that the Port of Colombo had become an extremely busy port and that there were plans to construct a state of the art passenger terminal at the Port of Colombo. He further said that the process has already started and will be going through procurement process soon.

Assistant Director, Sri Lanka Tourism Promotion Bureau Harindra Dissanayake said, ‘’we’re delighted to add our contribution in promoting Sri Lanka as a leading travel destination, by establishing Tourist Information Counters in each passenger vessel to create awareness among tourists on Sri Lanka as a leading travel destination. This is done with the purpose of encouraging more tourists to visit Sri Lanka.”

http://dailynews.lk/2018/12/31/business/172705/cruises-ferry-72500-tourists-sri-lanka​​​​​​​

38CSE THIS WEEK - Page 2 Empty Re: CSE THIS WEEK Mon Dec 31, 2018 8:08 pm

ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Sri Lanka stocks fall 5-pct in 2018, outperforms major markets

Dec 31, 2018 

Sri Lanka's stocks have fallen 5 percent over 2018, outperforming major markets in the world which were battered amid Donald Trump's economic nationalism and Federal Reserve rate hikes.

The Colombo All Share Price Index (ASPI) fell 316 points to 6,052.37 at end of trading on December 31, from 6,369.26  at the last day of trading in 2017 while market capitalization fell by 60 billion rupees to 2.84 trillion rupees , based on stock exchange data.

The index peak of 6,598.73  was reached on February 21, a week after the provincial council elections which strongman Former President Mahinda Rajapaksa won.

The stock market then tumbled gradually to an annual low of 5761.09  on October 19 before recovering to 6,092.21 on November 2, when President Maithripala Sirisena staged an unsuccessful coup against his coalition partner Prime Minister Ranil Wickremesinghe by attempting to replace him with Rajapaksa. 

However, foreign sales of Sri Lankan stocks mirrored a regional trend, where investors sold out. 
In the US the Dow Jones Index was also down 6.7 percent by December 28, with Trump raising import duties, disrupting trade while the Federal Reserve also raised rates, ending years of loose policy.
China's Shanghai Composite Index was down 24.59 percent and Japan's Nikei was down 12.08 percent, data from Bloomberg Newswires showed.

Colombo-based First Capital Research said it expected foreign investors to return to Sri Lanka in 2019.
"As we step into 2019, we are witnessing the global fund flow reversing towards Asia," the brokerage said in a research note.

First Capital Research said that the ASPI could be expected to fluctuate between 6,000-6,500 in 2019, upgrading the firm's past projection from 5,800-6,200.
However, it said that political stability created after the ending of the constitutional crisis is temporary and differences between the president and the Wickremesinghe's United National Front will show in policy making.  

Sri Lanka's central bank which operates a soft-pegged exchange rate has also generated balance of payments pressure by injecting liquidity and defending the currency, which has panicked bond investors.
The rupee depreciated to 183 against the dollar in spot currency markets on December 31, 2018, down 19.7 percent from 152.85 on December 28, 2017.

​​​​​​​https://economynext.com/Sri_Lanka_stocks_fall_5_pct_in_2018,_outperforms_major_markets-3-13020-3.html

39CSE THIS WEEK - Page 2 Empty Re: CSE THIS WEEK Mon Dec 31, 2018 10:12 pm

Yahapalanaya

Yahapalanaya
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
CSE GREEN
 
ASPI 6052

37 points up 

Sorry Samariyan,Maharaja,Kithsiri,Ryan

Basketball Basketball Basketball

40CSE THIS WEEK - Page 2 Empty Re: CSE THIS WEEK Mon Dec 31, 2018 10:15 pm

ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Yahapalanaya wrote:CSE GREEN
 
ASPI 6052

37 points up 

Sorry Samariyan,Maharaja,Kithsiri,Ryan

Basketball Basketball Basketball
Who are these members????????
Samariyan & Kithsiri?????????? Wink Wink Wink

41CSE THIS WEEK - Page 2 Empty Re: CSE THIS WEEK Mon Dec 31, 2018 10:30 pm

Yahapalanaya

Yahapalanaya
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@ruwan326 wrote:
@Yahapalanaya wrote:CSE GREEN
 
ASPI 6052

37 points up 

Sorry Samariyan,Maharaja,Kithsiri,Ryan

Basketball Basketball Basketball
Who are these members????????
Samariyan & Kithsiri?????????? Wink Wink Wink
MARA ge golayo.. Very Happy Very Happy Very Happy

42CSE THIS WEEK - Page 2 Empty Re: CSE THIS WEEK Tue Jan 01, 2019 8:20 pm

ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Sri Lanka rupee ends flat after sudden rise, stocks up on Jan 01

Jan 01, 2019 


Sri Lanka's rupee closed around 182.80/183.00 around the same as a day earlier, after a sudden rise in intra-day trading, while stocks closed up in the first day of trading in 2019, dealers and brokers said.

The rupee closed around 182.90/183.00 on Monday against the US dollar in the spot market.
In intra-day trading on Tuesday the rupee was seen trading as strong as 182.00 before falling towards the end of the day, market participants said.

The Colombo All Share Index closed up 0.6 percent, with Ceylon Tobacco Company closing up 40 rupees 2.4 percent at 1,707.60 rupees.
John Keells Holdings closed up 3.70 at 159.70 rupees.

Bond yields were mostly flat, ahead of a Treasury bill auction on Wednesday.
A bond maturing on 15.12.2021, was quoted at 11.45/50 percent Tuesday, about the same from Tuesday close of 11.50/52 percent, dealers said.

A bond maturing on 15.07.2023, was quoted at 11.60/65 percent Tuesday, flat dealers said.
A bond maturing on 01.08.2026 bond was quoted around at 11.66/11.70 percent flat. 

https://economynext.com/Sri_Lanka_rupee_ends_flat_after_sudden_rise,_stocks_up_on_Jan_01-3-13026-3.html

43CSE THIS WEEK - Page 2 Empty Re: CSE THIS WEEK Wed Jan 02, 2019 6:43 am

ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
KEY ECONOMIC INDICATORS
CSE THIS WEEK - Page 2 Keindi10

44CSE THIS WEEK - Page 2 Empty Re: CSE THIS WEEK Wed Jan 02, 2019 12:31 pm

ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Sri Lanka to halve foreign investor limit of rupee Treasuries

Jan 02, 2019 


Sri Lanka will cut the volume of rupee bonds foreigners can hold from 10 percent of total outstanding to 5 percent, Central Bank Governor Indrajit Coomaraswamy said as a soft-pegged regime has put renewed pressure on the currency.
Some bond investors are footloose, and making the external sector volatile, he said.

"In view of the increased volatility global financial markets we intend to reduce the threshold for foreign investment in rupee denominated from 10 percent to 5 percent," Governor Coomaraswamy said presenting a road map for monetary policy for 2019.
Sri Lanka runs a soft-peg with the US dollar and has found it difficult to cope with bond outflows as it tries to prevent a 'disorderly adjustment' of the exchange rate and then print money to keep rates down.

Rupee bond holders have been fleeing Sri Lanka from around May after the central bank cut rates and injected liquidity in April.
Analysts have warned that Sri Lanka has to reform the central bank or abandon the soft-peg to allow free capital mobility and help make the island financial centre. 
Foreign companies raised capital in Sri Lanka's stock market during British rule when Sri Lanka had a currency board, when the agency intervenes in forex markets, but does not print money after the intervention.

https://economynext.com/Sri_Lanka_to_halve_foreign_investor_limit_of_rupee_Treasuries-3-13032-1.html

45CSE THIS WEEK - Page 2 Empty Re: CSE THIS WEEK Wed Jan 02, 2019 5:50 pm

Yahapalanaya

Yahapalanaya
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Today also Green

ASPI 6062

Increased by 9.8 points

Machan Soil,Samaritan,Maharajah group when will it come to 5500..

Good 2019 beginning to all real Srilankan investors.. Very Happy Very Happy Very Happy

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