Record draw for Invest Sri Lanka Forum today in Singapore

Tuesday, 21 January 2014 00:01 - - {{hitsCtrl.values.hits}}

Over 200 fund managers, investment bankers, financial advisors and prospective investors register to listen to post-war revival and opportunity today at Ritz Carlton Millennia
The previous initiative a few years ago attracted only around 70 participants
Lankan Diaspora wooed via Singapore Sri Lanka Business Association hosted networking event

By Nisthar Cassim in Singapore A record crowd of over 200 participants in Singapore will today listen to the post-war growth story and resultant future investment opportunities at a forum co-organised by the Colombo Stock Exchange (CSE) and the Securities and Exchange Commission (SEC) in association with Bloomberg Data services. Organisers told the Daily FT yesterday that around 220 fund managers, investment bankers, financial advisors and prospective investors have registered to attend the Invest Sri Lanka Forum which will be held today (Tuesday 21 January) at the Ritz Carlton Millennia in Singapore. When the CSE had a road show in Singapore a few years ago, the number of participants was below 80. In comparison with the new series of road shows held from 2013 onwards jointly by the CSE and the SEC in Mumbai, Dubai and Hong Kong; the participation at the Singapore event today is the highest ever. On Monday, Sri Lanka also pitched for investments in to capital markets from the Diaspora present in the Lion City at a heavily patronised event hosted by the Singapore Sri Lanka Business Association (SLBA) at the 64th floor of the Tower Club in Raffles Place. A top level team from Sri Lanka is attending the latest push in Singapore to showcase the country’s success post-war as well as a host of unfolding new opportunities to institutional and individual investors based in Singapore, one of Asia’s most competitive and popular hubs. Senior Minister for International Monetary Cooperation and Deputy Finance Minister Dr. Sarath Amunugama, Sri Lanka’s High Commissioner in Singapore Ferial Ashraff, Central Bank Governor Nivard Cabraal, CSE Chairman Krishan Balendra and SEC Chairman Nalaka Godahewa are among officials who will speak at the forum which also includes a panel discussion. The Forum also includes one to one and small group meetings among Singapore participants and representatives of top Lankan blue chip companies. The Sri Lankan listed companies fervent to meet with regional investors and Singaporean investors are; John Keells Holdings PLC, National Development Bank PLC, DFCC Bank, Carson Cumberbatch PLC, Distilleries Company Of Sri Lanka PLC, Dialog Axiata PLC, Ceylinco Insurance PLC, Hayleys PLC, Access Engineering PLC, People’s Leasing & Finance PLC, Hemas Holdings PLC, Softlogic Holdings PLC and Tokyo Cement Company (Lanka) PLC. A large number of broking firms are also participating. The Forum will also have presentations from Amba Research Lanka (a Moody’s subsidiary) Country Head Chanakya Dissanayake on the opportunities in the capital market. Additionally a separate session will be held featuring presentations on the opportunities available in the Sri Lankan debt market. This will be by Central Bank Assistant Governor C.J. Siriwardena and CSE Director Vajira Kulathilaka. The growing confidence of foreign investors on the Sri Lankan stock market is reflected by the record levels of foreign inflows in 2012 (Rs. 39 billion) as well as in 2013 (Rs. 34 billion). SEC Chairman Godahewa said record participation at the Singapore forum was a further testimony to the improving appetite for select, sound investments in Sri Lanka. CSE Chief Balendra identified Singapore as the ideal location to hold a forum as it is a financial hub where many regional and global institutional investors are based. “Through this forum we hope to attract not just Singapore-based investors but also investors from the region,” Balendra added. This is the first instance that the CSE in association with the SEC is hosting such a forum in Singapore. The previous forums organised by the CSE were held in 2007 and 2011 while the SEC organised a forum in 2009. These forums attracted a number of Singaporean and regional investors to Sri Lanka and provided substantial exposure to companies listed on the CSE. The CSE and the SEC hope to hold investor forums in New York, London and other cities during the course of the year. Last year Mumbai, Dubai and Hong Kong also saw successful Invest Sri Lanka events.

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