ASPI (+5 points, +0.08%)
Client Login
Register with us here to get access to our research reports, valuation guides, featured reports and to manage your account detailsS&P SL20 (+3 points, +0.10%)
Daily Report
Provides brief coverage of daily market statistics, corporate announcements and results of listed companies on the CSETurnover US$m
Online Trading
Equity trader platform for investors to access market data, trading information and to place orders from your smart device & personal computer
Updated October 11, 2019
(Market info at close)
Local Economy News:
The Central Bank of Sri Lanka (CBSL), in its Monetary Policy Review, has decided to maintain Standing Deposit Facility Rate (SDFR), Standing Lending Facility Rate (SLFR) and the Statutory Reserve Ratio (SRR) at 7.00%, 8.00% and 5.00% respectively.
https://www.cbsl.gov.lk/sites/default/files/cbslweb_documents/press/pr/Monetary%20Policy%20Review%20No_6_%202019_final.pdf
Local News:
Cabinet approves lead managers for US$500mn Samurai bond (Daily FT)
Cabinet has approved the lead managers for the US$500mn Samurai bond, which the CBSL is planning to issue in late October or November 2019. Mizuho Securities Company Ltd., SMBC Nikko Securities Inc., and Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. have been picked as the lead managers for the bond.
http://www.ft.lk/front-page/Cabinet-approves-lead-managers-for-500-m-Samurai-bond/44-687440
Hotels fear 50% dip in occupancy this winter (Daily FT)
The Hotels Association of Sri Lanka (THASL) estimated occupancy levels to decline by -50% YoY in 2019 winter season, as the industry counted rising losses in the aftermath of the Easter Sunday attacks. It was further mentioned that most of hotels and resorts are currently occupied with more local travelers, with the majority of these entities making money during weekends.
http://www.ft.lk/front-page/Hotels-fear-50-dip-in-occupancy-this-winter/44-687439
Light Rail Transit operations to commence in 2025E (Daily News)
Colombo Light Rail Transit (LRT) Project will be ready for commissioning by end of 2024E and for commercial operation by early 2025E. The total cost of the project is US$2.2bn, of which US$1.8bn will be provided by the Japan International Cooperation Agency (JICA). Successful bidders are to be selected by end of 2020E or early 2021E.
http://www.dailynews.lk/2019/10/11/finance/199523/light-rail-transit-operations-commence-2025
Petrol prices reduced: LIOC (Daily Mirror)
Lanka IOC (LIOC) announced a reduction in petrol prices w.e.f 10 October 2019. Accordingly the price of Lanka Petrol 92 Octane and Xtra Premium Euro-3 Petrol were reduced by Rs.2 per litre to Rs.142 and 148 per litre respectively. Meanwhile there were no price changes in Lanka Auto Diesel, Xtra Premium 95 Petrol, Lanka Super Diesel and XTRAMILE Diesel.
http://www.dailymirror.lk/breaking_news/Petrol-prices-reduced-LIOC/108-175991
CSE Announcement:
The Colombo Stock Exchange (CSE) announced that the trading of Lucky Lanka Milk Processing Company (LLMP) which is on the watch list will be suspended w.e.f 18 October 2019 unless the company rectifies the non-compliance on or before 17 October 2019.
https://cdn.cse.lk/cmt/announcement_portal_prod/Web%20Announcements-Enforcement-Suspension%20-%20llmp%20before%20one%20week_18082641352474212.pdf
Corporate Announcements (related to Minimum Public Float requirements):
Commercial Development Company (COMD), People’s Merchant Finance (PMB) disclosed that they were 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 30 September 2019.
https://cdn.cse.lk/cmt/announcement_portal_prod/Status%20of%20Minimum%20Public%20Holding%20as%20at%20September%2030%202019_18093918330420215.pdf
https://cdn.cse.lk/cmt/announcement_portal_prod/DISCLOSURE%20ON%20THE%20STATUS%20OF%20THE%20MINIMUM%20PUBLIC%20HOLDING-10.10.2019_18102105029831809.pdf
The Central Bank of Sri Lanka (CBSL), in its Monetary Policy Review, has decided to maintain Standing Deposit Facility Rate (SDFR), Standing Lending Facility Rate (SLFR) and the Statutory Reserve Ratio (SRR) at 7.00%, 8.00% and 5.00% respectively.
https://www.cbsl.gov.lk/sites/default/files/cbslweb_documents/press/pr/Monetary%20Policy%20Review%20No_6_%202019_final.pdf
Local News:
Cabinet approves lead managers for US$500mn Samurai bond (Daily FT)
Cabinet has approved the lead managers for the US$500mn Samurai bond, which the CBSL is planning to issue in late October or November 2019. Mizuho Securities Company Ltd., SMBC Nikko Securities Inc., and Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. have been picked as the lead managers for the bond.
http://www.ft.lk/front-page/Cabinet-approves-lead-managers-for-500-m-Samurai-bond/44-687440
Hotels fear 50% dip in occupancy this winter (Daily FT)
The Hotels Association of Sri Lanka (THASL) estimated occupancy levels to decline by -50% YoY in 2019 winter season, as the industry counted rising losses in the aftermath of the Easter Sunday attacks. It was further mentioned that most of hotels and resorts are currently occupied with more local travelers, with the majority of these entities making money during weekends.
http://www.ft.lk/front-page/Hotels-fear-50-dip-in-occupancy-this-winter/44-687439
Light Rail Transit operations to commence in 2025E (Daily News)
Colombo Light Rail Transit (LRT) Project will be ready for commissioning by end of 2024E and for commercial operation by early 2025E. The total cost of the project is US$2.2bn, of which US$1.8bn will be provided by the Japan International Cooperation Agency (JICA). Successful bidders are to be selected by end of 2020E or early 2021E.
http://www.dailynews.lk/2019/10/11/finance/199523/light-rail-transit-operations-commence-2025
Petrol prices reduced: LIOC (Daily Mirror)
Lanka IOC (LIOC) announced a reduction in petrol prices w.e.f 10 October 2019. Accordingly the price of Lanka Petrol 92 Octane and Xtra Premium Euro-3 Petrol were reduced by Rs.2 per litre to Rs.142 and 148 per litre respectively. Meanwhile there were no price changes in Lanka Auto Diesel, Xtra Premium 95 Petrol, Lanka Super Diesel and XTRAMILE Diesel.
http://www.dailymirror.lk/breaking_news/Petrol-prices-reduced-LIOC/108-175991
CSE Announcement:
The Colombo Stock Exchange (CSE) announced that the trading of Lucky Lanka Milk Processing Company (LLMP) which is on the watch list will be suspended w.e.f 18 October 2019 unless the company rectifies the non-compliance on or before 17 October 2019.
https://cdn.cse.lk/cmt/announcement_portal_prod/Web%20Announcements-Enforcement-Suspension%20-%20llmp%20before%20one%20week_18082641352474212.pdf
Corporate Announcements (related to Minimum Public Float requirements):
Commercial Development Company (COMD), People’s Merchant Finance (PMB) disclosed that they were 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 30 September 2019.
https://cdn.cse.lk/cmt/announcement_portal_prod/Status%20of%20Minimum%20Public%20Holding%20as%20at%20September%2030%202019_18093918330420215.pdf
https://cdn.cse.lk/cmt/announcement_portal_prod/DISCLOSURE%20ON%20THE%20STATUS%20OF%20THE%20MINIMUM%20PUBLIC%20HOLDING-10.10.2019_18102105029831809.pdf