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Provides brief coverage of daily market statistics, corporate announcements and results of listed companies on the CSETurnover US$m
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Equity trader platform for investors to access market data, trading information and to place orders from your smart device & personal computerUpdated July 22, 2019
(Market info at close)
Local News:
Economic sentiment rebounds: Survey (Daily FT)
LMD-Nielsen Business Confidence Index (BCI) poll has indicated that sentiment surrounding the economy improved in June 2019 with 11% of respondents stating that it will improve compared to only 6% in May 2019. Further, the outlook for business prospects has improved with 25% and 28% respondents expecting sales volumes to improve in the short and long terms respectively (versus 3% and 15% in the preceding month).
http://www.ft.lk/front-page/Economic-sentiment-rebounds-Survey/44-682383
Sri Lanka has settled 70% of foreign debt for 2019: CB Governor (Economy Next)
The Central Bank Governor Indrajit Coomaraswamy has stated that Sri Lanka has settled about 70% of US$5.4bn in foreign debt repayments in 2019 and will have a buffer to settle part of next year’s debt as well. Further, he has indicated the plans to raise more money in the near term, whilst highlighting that Sri Lanka will be able to settle all the obligation till about the middle of 2020E.
https://economynext.com/Sri_Lanka_has_settled_70_pct_of_foreign_debt_for_2019__CB_Governor-3-15196-1.html
Cabinet approves amending tea promotion levy on exports (Sunday Times)
Cabinet approval has been granted to amend the Tea promotion levy as set out by the Sri Lanka Tea Board Law to Rs.3 from Rs.3.5. According to a cabinet proposal by Minister Navin Dissanayake, the tax imposed on exported tea has resulted in extra cost to be borne by exporters. However, the other direct and indirect taxes will be imposed as usual.
http://www.sundaytimes.lk/article/1095912/cabinet-approves-amending-tea-promotion-levy-on-exports
CSE Announcement:
The Colombo Stock Exchange (CSE) announced that the securities of PC House (PCH) were delisted from the official list of the CSE w.e.f 19 July 2019.
https://cdn.cse.lk/cmt/announcement_portal_prod/DE-LISTING%20OF%20THE%20SECURITIES%20OF%20PC%20HOUSE%20PLC_10910546874270470.pdf
Corporate Announcements:
It was announced that on 03 April 2019, Dolphin Hotels (STAF) has entered into a non-recurrent intercompany lending transaction amounting to Rs.178mn on a short term basis with its parent company Serendib Hotels (SHOT).
https://cdn.cse.lk/cmt/announcement_portal_prod/CSE%20-%20RPTRC%20-%20Funds%20from%20Dolphin%20Hotels%20PLC%20to%20Serendib%20Hotels%20PLC-%20%20disclosure_10933042339181949.pdf
Lanka Realty Investments (ASCO) has made a correction to the corporate disclosure made on 08 May 2019 with regard to the Acquisition of Six Companies in the Real Estate Sector.
https://cdn.cse.lk/cmt/announcement_portal_prod/LRI%20CSE%20Announcement%20-%20Acquisition%20of%20Six%20Companies%20in%20the%20Real%20Estate%20Sector_10935627209785394.pdf
Corporate Announcement (related to Minimum Public Float requirements):
Serendib Land (SLND) announced that it was not in compliance with the minimum public shareholding as required by the listing rules of the Main Board of the Colombo Stock Exchange (CSE) as at 09 July 2019.
https://cdn.cse.lk/cmt/announcement_portal_prod/SLND%20-%20Letter%20addressed%20to%20CSE%20-%20Monthly%20Announcement%20-%20JULY2019_10910316284773840.pdf
Dividend Announcements:
Renuka Agri Foods (RAL) – First and Final dividend of Rs.0.12 per share – XD: 19/09/2019 – PD: 26/09/2019
Renuka Foods (COCO) – First and Final dividend of Rs.0.35 per share – XD: 19/09/2019 – PD: 26/09/2019
Renuka Capital (KZOO) – First and Final dividend of Rs.0.13 per share – XD: 19/09/2019 – PD: 26/09/2019
Renuka Holdings (RHL) – First and Final dividend of Rs.0.25 per share – XD: 19/09/2019 – PD: 26/09/2019
Kelani Tyres (TYRE) – First and Final dividend of Rs.2.50 per share – XD: 30/07/2019 – PD: 08/08/2019
Economic sentiment rebounds: Survey (Daily FT)
LMD-Nielsen Business Confidence Index (BCI) poll has indicated that sentiment surrounding the economy improved in June 2019 with 11% of respondents stating that it will improve compared to only 6% in May 2019. Further, the outlook for business prospects has improved with 25% and 28% respondents expecting sales volumes to improve in the short and long terms respectively (versus 3% and 15% in the preceding month).
http://www.ft.lk/front-page/Economic-sentiment-rebounds-Survey/44-682383
Sri Lanka has settled 70% of foreign debt for 2019: CB Governor (Economy Next)
The Central Bank Governor Indrajit Coomaraswamy has stated that Sri Lanka has settled about 70% of US$5.4bn in foreign debt repayments in 2019 and will have a buffer to settle part of next year’s debt as well. Further, he has indicated the plans to raise more money in the near term, whilst highlighting that Sri Lanka will be able to settle all the obligation till about the middle of 2020E.
https://economynext.com/Sri_Lanka_has_settled_70_pct_of_foreign_debt_for_2019__CB_Governor-3-15196-1.html
Cabinet approves amending tea promotion levy on exports (Sunday Times)
Cabinet approval has been granted to amend the Tea promotion levy as set out by the Sri Lanka Tea Board Law to Rs.3 from Rs.3.5. According to a cabinet proposal by Minister Navin Dissanayake, the tax imposed on exported tea has resulted in extra cost to be borne by exporters. However, the other direct and indirect taxes will be imposed as usual.
http://www.sundaytimes.lk/article/1095912/cabinet-approves-amending-tea-promotion-levy-on-exports
CSE Announcement:
The Colombo Stock Exchange (CSE) announced that the securities of PC House (PCH) were delisted from the official list of the CSE w.e.f 19 July 2019.
https://cdn.cse.lk/cmt/announcement_portal_prod/DE-LISTING%20OF%20THE%20SECURITIES%20OF%20PC%20HOUSE%20PLC_10910546874270470.pdf
Corporate Announcements:
It was announced that on 03 April 2019, Dolphin Hotels (STAF) has entered into a non-recurrent intercompany lending transaction amounting to Rs.178mn on a short term basis with its parent company Serendib Hotels (SHOT).
https://cdn.cse.lk/cmt/announcement_portal_prod/CSE%20-%20RPTRC%20-%20Funds%20from%20Dolphin%20Hotels%20PLC%20to%20Serendib%20Hotels%20PLC-%20%20disclosure_10933042339181949.pdf
Lanka Realty Investments (ASCO) has made a correction to the corporate disclosure made on 08 May 2019 with regard to the Acquisition of Six Companies in the Real Estate Sector.
https://cdn.cse.lk/cmt/announcement_portal_prod/LRI%20CSE%20Announcement%20-%20Acquisition%20of%20Six%20Companies%20in%20the%20Real%20Estate%20Sector_10935627209785394.pdf
Corporate Announcement (related to Minimum Public Float requirements):
Serendib Land (SLND) announced that it was not in compliance with the minimum public shareholding as required by the listing rules of the Main Board of the Colombo Stock Exchange (CSE) as at 09 July 2019.
https://cdn.cse.lk/cmt/announcement_portal_prod/SLND%20-%20Letter%20addressed%20to%20CSE%20-%20Monthly%20Announcement%20-%20JULY2019_10910316284773840.pdf
Dividend Announcements:
Renuka Agri Foods (RAL) – First and Final dividend of Rs.0.12 per share – XD: 19/09/2019 – PD: 26/09/2019
Renuka Foods (COCO) – First and Final dividend of Rs.0.35 per share – XD: 19/09/2019 – PD: 26/09/2019
Renuka Capital (KZOO) – First and Final dividend of Rs.0.13 per share – XD: 19/09/2019 – PD: 26/09/2019
Renuka Holdings (RHL) – First and Final dividend of Rs.0.25 per share – XD: 19/09/2019 – PD: 26/09/2019
Kelani Tyres (TYRE) – First and Final dividend of Rs.2.50 per share – XD: 30/07/2019 – PD: 08/08/2019