Stock Market Indicators:

ASI: 6,565.6 (up 2 points, +0.03%), S&P SL20: 3,699.7 (down 5 points, -0.15%)

Turnover: Rs.288mn (-61%)

Exchange Rate 1US$ = Rs.155.08

Market Capitalization: US$19.4bn

Foreign Purchases: Rs.53mn (-66%)

Foreign Sales: Rs.32mn (-33%)

Softlogic Holdings (SHL – Rs.24.0) emerged as the top contributor to turnover with Rs.42mn (1.7mn shares), followed by Sampath Bank (SAMP – Rs.329.9) with Rs.27mn turnover (0.1mn shares) and Hatton National Bank – Voting (HNB-N – Rs.241.5) with Rs.21mn turnover (0.1mn shares)

CSE Announcement:

The CSE disclosed details pertaining to the rights issue of Nations Trust Bank (NTB). Accordingly, 40mn ordinary non–voting convertible shares are to be issued in the proportion of 4:23, at a consideration of Rs.80.0 per share to raise a sum of Rs.3.2bn.

Corporate Announcements:

Commercial Bank of Ceylon (COMB) announced that CBC Myanmar Microfinance Co. Ltd, (a fully owned subsidiary of COMB) has received the license of operation from the Myanmar Microfinance Supervisory Enterprise, to operate in the Republic of the Union of Myanmar, as a non-savings Deposit Organisation w.e.f  12 January 2018.

It was announced that the Board of Directors of Seylan Developments (CSD), have approved in principle the purchase of 4 floors at Seylan Towers owned by Seylan Bank (SEYB), at a consideration of Rs.934mn. Subsequent to this transaction, the entire East and West Towers will be owned by CSD.

Lanka Century Investments (GREG) announced that the directors of GREG have resolved to recommend a reduction in its Stated Capital from Rs.7.9bn to Rs.5.3bn, in order to set off a carry forward loss of Rs.2.5bn.

GREG announced that it had provided a Rs.2bn corporate guarantee, to its subsidiary Millennium Information Technologies (Private) Limited (MIT), in order to secure working capital and medium-term loan facilities obtained by MIT.

Dividend Announcements:

Cargills Ceylon (CARG) – Second Interim dividend of Rs.4.10 per share – XD: 28/02/2018 – PD: 12/03/2018

CT Land Development (CTLD) – Second Interim dividend of Rs.2.0 per share – XD: 28/02/2018 – PD: 12/03/2018

DFCC Bank (DFCC) – First and Final dividend of Rs.5.0 per share – XD: 28/02/2018 – PD: 12/03/2018

CSD – First and Final dividend of Rs0.9per share – XD: 02/04/2018 – PD: 10/04/2018

Nuwara Eliya Hotels Company (NEH) – Interim dividend of Rs.30.0 per share – XD: 28/02/2018 – PD: 12/03/2018

Results for the Period Ended 31 December 2017:

SEYB reported a net profit of Rs.1,452mn for 4Q2017 (+22% YoY), resulting in a net profit of Rs.4,817mn for 2017 (+20% YoY)

Aitken Spence Plantation Managements (ASPM) reported a net profit of Rs.105mn for 3Q18 (+10% YoY), resulting in a net profit of Rs.311mn for 1-3Q18 (+58% YoY)

CSD reported a net profit of Rs.83mn for 4Q2017 (-71% YoY), resulting in a net profit of Rs.241mn for 2017 (-36% YoY)

CT CLSA – Daily Report – 19 February 2018