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Hi all,
It looks like the local retail community is bitting the bullet while foreign buyers are active. It is wise to have a refreshed approach in equities at this moment IMO
The CSE would be attractive investment for me due to following evaluation;
1. Interest rates keep falling though there are ad-how jumps (CBSL Governor expects it to come down to single digit by end 2023)
2. India and China as as money lenders MUST agree to terms given the context to GET BACK at least capital they gave SL. No CREDITOR would like to loose 100% money lent. Hence, IMF is due for a certain fact.
3. Growing REMITTANCES via Banks is massive with number of people flew for jobs in last 6 months
4. China opening country driving new GLOBAL demand and hotels are being on demand with Chinese
5. HOTELS FULLY BOOKED till APRIL~MAY in most of the top hotels(Cinnamon, Aitken Spence, etc). For the month of Jan $160Mn inflow from Tourism in which $ 1.5 billion is a sure fact for 2023
6. Increased GOV. TAX means LOWER burden on money printing and FISCAL consolidation.
7. CSE returns are NOT TAXED
(only asset class in SL NOT taxed under PAYEE)
8. A lot of Companies might be on SALE in CSE increasing trading and activity. AAIC, LHCL and SLT are few on the cards now. There can be many. Foreigners are chasing JKH,SPEN and NTB
9. Postponed LG elections is a lucky one happened for SL at this juncture considering political and economic policy consistency ahead of IMF and various negotiations.
I expect from much more economic returns from RW specially after 2Q23 on top on interest rate reductions to public
Good Luck
NOTE - NOT a BUY/SELL or HOLD RECOMMENDATION
It looks like the local retail community is bitting the bullet while foreign buyers are active. It is wise to have a refreshed approach in equities at this moment IMO
The CSE would be attractive investment for me due to following evaluation;
1. Interest rates keep falling though there are ad-how jumps (CBSL Governor expects it to come down to single digit by end 2023)
2. India and China as as money lenders MUST agree to terms given the context to GET BACK at least capital they gave SL. No CREDITOR would like to loose 100% money lent. Hence, IMF is due for a certain fact.
3. Growing REMITTANCES via Banks is massive with number of people flew for jobs in last 6 months
4. China opening country driving new GLOBAL demand and hotels are being on demand with Chinese
5. HOTELS FULLY BOOKED till APRIL~MAY in most of the top hotels(Cinnamon, Aitken Spence, etc). For the month of Jan $160Mn inflow from Tourism in which $ 1.5 billion is a sure fact for 2023
6. Increased GOV. TAX means LOWER burden on money printing and FISCAL consolidation.
7. CSE returns are NOT TAXED
(only asset class in SL NOT taxed under PAYEE)8. A lot of Companies might be on SALE in CSE increasing trading and activity. AAIC, LHCL and SLT are few on the cards now. There can be many. Foreigners are chasing JKH,SPEN and NTB
9. Postponed LG elections is a lucky one happened for SL at this juncture considering political and economic policy consistency ahead of IMF and various negotiations.
I expect from much more economic returns from RW specially after 2Q23 on top on interest rate reductions to public
Good Luck
NOTE - NOT a BUY/SELL or HOLD RECOMMENDATION
