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

» Many positives for Next week
by madukp Today at 3:22 am

» EXPO EXPO EXPO
by Gowri123 Today at 12:35 am

» GLAS will be winner with Super Gain.
by Eranga87 Yesterday at 9:50 pm

» still I believe this
by 100Bill Yesterday at 9:21 pm

» Kind of behavior traders engage in when they are frustrated and want their money back from the market. Stock market for beginners
by Asoka Samarakone Yesterday at 9:13 pm

» SUNSHINE HOLDINGS PLC (SUN.N0000)
by ErangaDS Yesterday at 8:19 pm

» Investor sentiment - will there ever be a recovery?
by xhunter Yesterday at 7:49 pm

» Let's have a stop-loss strategy to maximize investment returns in stock market
by EquityChamp Yesterday at 7:19 pm

» Daily Foreign Transactions
by Pradeep90 Yesterday at 6:56 pm

» Norway -> biggest shareholder of NDB
by Bakkabwoi Yesterday at 6:42 pm

» DIPD/HAYC/HAYL
by samaritan Yesterday at 5:41 pm

» කොටස් මිල දී ගන්න මෙය හොඳම කාලයයි – රාජ්‍ය අමාත්‍ය කබ්රාල්
by samaritan Yesterday at 5:07 pm

» IS it right time to stick to warren buffett's most famous saying ???
by Mr. X Yesterday at 4:02 pm

» CSE - The World's best performer!
by Vishwanarth Yesterday at 2:42 pm

» Best Broker
by Wickyz Yesterday at 2:32 pm

» Game Changed! SUPER GREEN
by Karthick Yesterday at 12:24 pm

» Blue Diamond
by thavam_Eu Yesterday at 12:07 pm

» GALORE OF GOOD NEWS TO THE CSE
by Bakkabwoi Yesterday at 11:58 am

» TRUE VALUE OF LANKA ALUMINUM INDUSTRY (LALU)
by Trading Jockey Yesterday at 10:26 am

» EBCR group of companies
by Wolf86 Thu Mar 04, 2021 10:30 pm

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™ » FINANCIAL CHRONICLE™ » Fairfax buys 10.7% JKH stake from Khazanah for Rs. 22.7 b

Fairfax buys 10.7% JKH stake from Khazanah for Rs. 22.7 b

Go down  Message [Page 1 of 1]

fireshelter

fireshelter
Associate Director - Equity Analytics
Associate Director - Equity Analytics

  • Deal propels CSE turnover to highest since 2008; Bourse rebounds 


Canada’s Fairfax Financial yesterday bought a strategic 10.7% stake in the premier blue chip John Keells Holdings PLC (JKH) for Rs. 22.7 billion from Malaysia’s sovereign fund Khazanah Nasional Berhad with the deal boosting investor sentiment and propelling the Colombo bourse turnover to highest since 2008.

In its official disclosure to the CSE, JKH said the buyer was Citigroup Global Markets Ltd., Agency Trading Prop Securities A/C. However market analysts linked the account to the Toronto, Ontario-based giant Fairfax. The seller was Northern Trust Co S/A Broga Hill Investments Ltd., linked to Khazanah. 

Fairfax Financial is a financial holding company engaged in property, casualty, insurance and reinsurance, investment management, and insurance claims management. Fairfax first entered Sri Lanka in 2013 via HWIC Asia Fund, accumulating a 15% in JKH subsidiary Nations Trust Bank. In 2015, Fairfax bought 78% of JKH-linked Union Assurance's general insurance business for Rs. 3. 7 billion. A year later, it acquired 100% of Asian Alliance General from Softlogic Holdings for Rs. 1. 2 billion 

The 10.76% stake in JKH amounting to 141.8 million shares was traded at Rs. 160 each. The deal boosted the Colombo Bourse’s turnover to Rs. 23.6 billion, highest since 2008, according to NDB Equities.

Analysts saw Fairfax investment as a major vote of confidence on the prospects of JKH as well as Sri Lanka. 

The JKH deal energised investor sentiments and boosted the market to positive territory. After suffering a 2% dip on Wednesday (sharpest in over two months), the ASPI yesterday shot up by 85 points or 1.44% and the S&P SL 20 Index moved up 64 points or 2.3%. On Wednesday, it fell by 2.6%.

NDB Equities said the ASPI closed in green as a result of price gains in counters such as LOLC Holdings, Distilleries and John Keells Holdings. A similar behaviour was witnessed in the S&P SL20. 

Mixed interest was observed in Sampath Bank whilst retail interest was noted in Browns Investments. Furthermore, foreigners remained active closing as net sellers. Total foreign participation accounted for 97.5% of the turnover.

During the week, the ASPI and the S&P SL20 lost 2.02% and 3.34% respectively whilst recording an average daily turnover of Rs. 5.3 billion.

Diversified sector was the top contributor to the market turnover (due to John Keells Holdings and Browns Investments) whilst the sector index gained 1.34%. The share price of John Keells Holdings increased by Rs. 1.70 (1.06%) to close at Rs. 162.80. The share price of Browns Investments gained Rs. 0.40 (7.84%) to close at Rs. 5.50. 

The Banks, Finance and Insurance sector was the second highest contributor to the market turnover (due to Sampath Bank and Hatton National Bank) whilst the sector index increased by 2.11%. The share price of Sampath Bank moved up by Rs 1.50 (0.98%) to close at Rs. 155.

The share price of Hatton National Bank recorded a loss of Rs. 0.30 (0.19%) to close at Rs 160. Chevron Lubricants was also included amongst the top turnover contributors. The share price of Chevron Lubricants appreciated by Rs. 4.30 (6.37%) to close at Rs. 71.80.

Back to top  Message [Page 1 of 1]

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