Softlogic Stockbrokers to trail blaze capital markets

Friday, 15 June 2012 02:30 - - {{hitsCtrl.values.hits}}

Softlogic Holdings yesterday formally announced the launch of Softlogic Stockbrokers Pvt Ltd, adding stock broking to its impressive portfolio of financial services.

Formerly known as Arrenga Capital (Pvt) Ltd, the company was acquired by Softlogic Capital PLC - the holding company for the Financial Services Sector of the Group, in April 2012. Having come into existence in May 2011, the company has already carved out an impressive market share within a short period of time.

Softlogic Capital’s portfolio of financial services now comprises of Softlogic Finance PLC, a Licensed Finance Company (LFC) licensed by the Central Bank of Sri Lanka; Asian Alliance Insurance Co PLC, a composite insurer licensed for both Life and General insurance by the Insurance Board of Sri Lanka; and Softlogic Stockbrokers Pvt Ltd, a stock broking company licensed and operating on the Colombo Stock Exchange. Together with the newly formed Asset Management Unit licensed by the SEC, this comprehensive financial services portfolio has primed the Sector for strident growth, leveraging on its fast increasing customer base acquired from diverse Sectors of the overall Group.

Softlogic Stockbrokers will seek to offer comprehensive financial solutions to its Institutional and Retail clients that will include top notch research and advisory services and combine with the Sector to provide a multitude of products that will enable clients to address their investment, funding and risk management requirements – all delivered through superior relationship management.

Currently, Sri Lanka’s stock broking fraternity counts 29 players and Softlogic Stockbrokers acknowledges the need to differentiate its offering based on service and sound financial credentials. Ashok Pathirage, Chairman, Softlogic Holdings, commented: “The Softlogic group has a diverse portfolio of financial services and with the setting up of Softlogic Stockbrokers, we have fulfilled the need for a stock broking arm as well. As a relatively young company, I am confident that Sotflogic Stockbrokers will be inducted into the Softlogic philosophy of ethical functioning and prove to be one of the front runners in the market in the near future.

We believe that the real boom in the country’s capital markets is yet to come and we are fully confident that Softlogic Stockbrokers is poised to take full advantage of this growth for the benefit of its customers.”

Dihan Dedigama, CEO of Softlogic Stock Brokers, said: “Softlogic Stockbrokers is strategically positioned to leverage on group synergies due to its strong backing by the sound credentials of Softlogic Holdings. The parent group is a highly diversified onewith interests in the financial services, insurance and health care sectors. We are confident that these group synergies will help us to grow our market share considerablywhilst enhancing our brand equity in the financial landscape. The company houses a wealth of expertise in our experienced team of stock brokers who are suitably backed by a skilled research team. This combination, offers investors cutting edge advice on the country’s capital markets. Our goal is to become one of the leading players in the stock broking arena and our personalized approach and prudent financial counsel will help us translate this ambitious vision into reality.”