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Updated September 19, 2019
(Market info at close)
Local Economy News:
The Department of Census and Statistics announced that Sri Lanka’s Gross Domestic Product (GDP) grew +1.6% YoY in 2Q2019 (vs. 3.7% YoY in 1Q2019 and 3.9% YoY in 2Q2018). The Agriculture sector (7% of total GDP) rose +1.0% YoY in 2Q2019 (vs. +5.6% YoY in 2Q2018). The Industry Sector (26% of total GDP) rose +1.4% YoY in 2Q2019 (vs. +2.8% YoY in 2Q2018). Meanwhile, the Services sector (60% of total GDP) recorded a growth rate of +1.6% YoY in 2Q2019 (vs. +4.8% YoY in 2Q2018).
http://www.statistics.gov.lk/national_accounts/dcsna_r2/reports/2019.09.18/summary_tables_2019q2_english.pdf
Sri Lanka’s 12-month Treasury bill Yield increased by 5bps to 8.41%. Meanwhile 6 -month and 3-month Treasury bill Yields were not offered.
https://www.cbsl.gov.lk/sites/default/files/cbslweb_documents/press/pr/press_20190918_treasury_bill_auctions_held_on_18_september_2019_e.pdf
Local News:
Presidential poll fixed for 16 November 2019 (Daily News)
The Election Commission has announced that the Presidential Election will be held on 16 November 2019. Director General of Elections Saman Sri Rathnayake has stated that nominations of candidates for the Election will be called from 07 October 2019 and that ~20 political parties and independent candidates had given the Election Commission their ‘notice of intention’ to contest at the upcoming Presidential Polls.
http://www.dailynews.lk/2019/09/19/political/197391/presidential-poll-fixed-november-16
Imported milk powder increased, Gas price reduced (Daily News)
The Cost Of Living committee has increased the price of imported milk powder (400g) by Rs.20 while the price of a domestic LP gas cylinder (12.5Kg) has been reduced by Rs.250.
http://www.dailynews.lk/2019/09/18/local/197291/imported-milk-powder-increased-gas-price-reduced
Government targets US$64mn earnings from ECT: Sagala (Daily FT)
Ports and Shipping Minister Sagala Ratnayaka has stated that the Government aims to earn US$64mn from the proposed Eastern Container Terminal (ECT) project, which will conclude by the end of next year. According to the Minister, the Government annually earns US$15mn from SAGT and US$25mn from CICT.
http://www.ft.lk/business/Govt-targets-64-m-earnings-from-ETC-Sagala/34-686007
Corporate Announcements:
The Finance Company (TFC) disclosed that the Central Bank of Sri Lanka (CBSL) has decided to extend the regulatory actions imposed on TFC for a further period of one month w.e.f 15 September 2019.
https://cdn.cse.lk/cmt/announcement_portal_prod/Regulatory%20Action_16188031848287294.pdf
https://cdn.cse.lk/cmt/announcement_portal_prod/TFC%20ANNONC_16187762106016927.PDF
TFC announced that the Board of Directors of the company has resolved to issue shares through a private placement in order to facilitate the restructuring process of TFC. Accordingly, a maximum of 963mn new ordinary shares is to be issued through the private placement. The price at which the shares which will be issued through the Private Placement has not yet been determined.
https://cdn.cse.lk/cmt/announcement_portal_prod/Issue%20of%20Shares_16187627429962611.pdf
Chemanex (CHMX) announced that the Board of Directors of the company has resolved to repurchase a maximum of 1.6mn of its ordinary shares at a consideration of Rs.63 per share on a pro rata basis of 1 share for every 10 shares held, amounting to a maximum value of Rs.99.2mn
https://cdn.cse.lk/cmt/announcement_portal_prod/CSE%20Disclosure%20CNX%20Share%20Repurchase_16129938289463678.pdf
It was announced that Ceylon Tea Brokers (CTBL) has entered into a related party transaction with Capital Alliance Income Fund (Mutual directors of Fund Management Company) for a settlement of commercial paper worth Rs.150mn and interest on 17 September 2019, which was obtained for a short term working capital requirement.
https://cdn.cse.lk/cmt/announcement_portal_prod/CTB_16202022828858055.pdf
Dividend Announcement:
Hunters & Company (HUNT) – Final Dividend of Rs.2.25 per share – XD: 01/10/2019 – PD: 09/10/2019
The Department of Census and Statistics announced that Sri Lanka’s Gross Domestic Product (GDP) grew +1.6% YoY in 2Q2019 (vs. 3.7% YoY in 1Q2019 and 3.9% YoY in 2Q2018). The Agriculture sector (7% of total GDP) rose +1.0% YoY in 2Q2019 (vs. +5.6% YoY in 2Q2018). The Industry Sector (26% of total GDP) rose +1.4% YoY in 2Q2019 (vs. +2.8% YoY in 2Q2018). Meanwhile, the Services sector (60% of total GDP) recorded a growth rate of +1.6% YoY in 2Q2019 (vs. +4.8% YoY in 2Q2018).
http://www.statistics.gov.lk/national_accounts/dcsna_r2/reports/2019.09.18/summary_tables_2019q2_english.pdf
Sri Lanka’s 12-month Treasury bill Yield increased by 5bps to 8.41%. Meanwhile 6 -month and 3-month Treasury bill Yields were not offered.
https://www.cbsl.gov.lk/sites/default/files/cbslweb_documents/press/pr/press_20190918_treasury_bill_auctions_held_on_18_september_2019_e.pdf
Local News:
Presidential poll fixed for 16 November 2019 (Daily News)
The Election Commission has announced that the Presidential Election will be held on 16 November 2019. Director General of Elections Saman Sri Rathnayake has stated that nominations of candidates for the Election will be called from 07 October 2019 and that ~20 political parties and independent candidates had given the Election Commission their ‘notice of intention’ to contest at the upcoming Presidential Polls.
http://www.dailynews.lk/2019/09/19/political/197391/presidential-poll-fixed-november-16
Imported milk powder increased, Gas price reduced (Daily News)
The Cost Of Living committee has increased the price of imported milk powder (400g) by Rs.20 while the price of a domestic LP gas cylinder (12.5Kg) has been reduced by Rs.250.
http://www.dailynews.lk/2019/09/18/local/197291/imported-milk-powder-increased-gas-price-reduced
Government targets US$64mn earnings from ECT: Sagala (Daily FT)
Ports and Shipping Minister Sagala Ratnayaka has stated that the Government aims to earn US$64mn from the proposed Eastern Container Terminal (ECT) project, which will conclude by the end of next year. According to the Minister, the Government annually earns US$15mn from SAGT and US$25mn from CICT.
http://www.ft.lk/business/Govt-targets-64-m-earnings-from-ETC-Sagala/34-686007
Corporate Announcements:
The Finance Company (TFC) disclosed that the Central Bank of Sri Lanka (CBSL) has decided to extend the regulatory actions imposed on TFC for a further period of one month w.e.f 15 September 2019.
https://cdn.cse.lk/cmt/announcement_portal_prod/Regulatory%20Action_16188031848287294.pdf
https://cdn.cse.lk/cmt/announcement_portal_prod/TFC%20ANNONC_16187762106016927.PDF
TFC announced that the Board of Directors of the company has resolved to issue shares through a private placement in order to facilitate the restructuring process of TFC. Accordingly, a maximum of 963mn new ordinary shares is to be issued through the private placement. The price at which the shares which will be issued through the Private Placement has not yet been determined.
https://cdn.cse.lk/cmt/announcement_portal_prod/Issue%20of%20Shares_16187627429962611.pdf
Chemanex (CHMX) announced that the Board of Directors of the company has resolved to repurchase a maximum of 1.6mn of its ordinary shares at a consideration of Rs.63 per share on a pro rata basis of 1 share for every 10 shares held, amounting to a maximum value of Rs.99.2mn
https://cdn.cse.lk/cmt/announcement_portal_prod/CSE%20Disclosure%20CNX%20Share%20Repurchase_16129938289463678.pdf
It was announced that Ceylon Tea Brokers (CTBL) has entered into a related party transaction with Capital Alliance Income Fund (Mutual directors of Fund Management Company) for a settlement of commercial paper worth Rs.150mn and interest on 17 September 2019, which was obtained for a short term working capital requirement.
https://cdn.cse.lk/cmt/announcement_portal_prod/CTB_16202022828858055.pdf
Dividend Announcement:
Hunters & Company (HUNT) – Final Dividend of Rs.2.25 per share – XD: 01/10/2019 – PD: 09/10/2019