Japan’s Daiwa Securities expresses interest in Sri Lanka’s capital market

Wednesday, 21 May 2014 01:35 - - {{hitsCtrl.values.hits}}

On the initiation of the Embassy of Sri Lanka in Tokyo, the senior management of Daiwa Securities visited Sri Lanka in order to assess and to benchmark the viability of the debt market of Sri Lanka. Daiwa Securities Global Investment Banking Managing Director Yutaka Yokoyama and Daiwa Securities Executive Director and Head of Debt Capital Markets Kenichi Kanda visited Sri Lanka recently. Daiwa Securities is the second largest securities brokerage and investment bank in Japan and among the 10 largest in the world with over $ 560 billion assets under management.

Ambassador Admiral Wasantha Karannagoda explaining the structure of the economy and capital market of Sri Lanka to Daiwa Securities Managing Director Yutaka Yokoyama and Daiwa Securities Head of Capital Markets Kenichi Kanda. Also present from the Embassy are Deputy Chief of Mission Saj Mendis and Commercial Counsellor D. Premaratne The Daiwa Securities offers retail services to institutional investors and investment banking services to clients and corporates in Asia, Europe and North America. It also provides advisory services on mergers and acquisitions, global asset management and private equity funds, among others. During the visit of the senior management of Daiwa Securities to Colombo, they called on the Governor of the Central Bank of Sri Lanka, Chairman of Securities and Exchange Commission and other related senior officials in Sri Lanka, with the meetings coordinated by the Embassy. At a briefing session with Ambassador Admiral Wasantha Karannagoda, the senior management of Daiwa stated that they were impressed with the rapid economic advancement of the country as well the sophistication of the debt and equity market structure of the country. The senior management of Daiwa also added that the Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, could guarantee the debt of Sri Lanka in close coordination with Daiwa Securities. In the past, Daiwa has been working closely with MIGA in this sphere, as well as in the equity market. Daiwa also expressed interest in introducing Japanese Government bonds, which would diversify the debt market of Sri Lanka.