News & Events

 

IMF facility may not be an urgent matter

Ceylontoday.lk  – October 3, 2020

The need for an International Monetary Fund (IMF) facility may not be required as IMF assistance for countries with economic dynamics similar to Sri Lanka has risen only when Gross Official Foreign Reserves (GOFR) has fallen below the US$ 5 billion mark, CT CLSA Securities (Pvt) Limited stated its latest research note.

According to CT CLSA Securities, a policy framework that allows growth of domestic-business sectors to substitute imports whilst focusing on export growth is key in formulating such a fiscal budget as COVID-19 could possibly be turned into a blessing in disguise for economies such as Sri Lanka.

Sri Lanka to showcase its rebound at top JP Morgan virtual conference today

Daily FT – September 23, 2020

Sri Lanka will showcase its success in mitigating the COVID-19 pandemic as well as the economic rebound taking shape at a top level virtual conference organised by JP Morgan today involving hundreds of global fund managers and analysts.

On Monday State Minister of Money and Capital Markets and State Enterprise Reforms Ajith Nivard Cabraal engaged with Foreign Institutional Investors (FII’s) via a virtual event hosted by CT CLSA Securities and CITIC CLSA.

CT CLSA facilitates FII engagement for State Minister Cabraal

Daily FT – September 21, 2020

State Minister of Money and Capital Markets and State Enterprise Reforms Ajith Nivard Cabraal will engage with Foreign Institutional Investors (FII’s) today via a virtual event hosted by CT CLSA Securities and CITIC CLSA.

The event has generated good interest with participants registered from all major financial hubs in Asia, Europe and the US.

They represent some of the largest Global and Frontier asset managers with exposure to Sri Lankan equities, dollar sovereign bonds and rupee denominated government securities.

With the strong mandate given at the recent General Election, FII’s are keen to get a first-hand account of macro-challenges in Sri Lanka, and also to seek out investment opportunities by better understanding the medium and long-term policy direction of the new Government.

CT CLSA Securities was the pioneer company to organise highly successful frontier investor forums which featured corporates from Sri Lanka, Pakistan, Bangladesh and Vietnam. Despite challenges posed by the COVID-19 pandemic, the Company has continued to offer opportunities for FII’s to engage with policy makers and leading local corporates through virtual events.

CT CLSA Securities, a Member of the Colombo Stock Exchange, is the stockbroking subsidiary of CT CLSA Holdings Ltd (CT CLSA), a leading capital market service provider in Sri Lanka that also provides investment banking and asset management services through its subsidiaries CT CLSA Capital and Comtrust Asset Management.

CT CLSA is backed by the strength of listed conglomerate CT Holdings PLC and CITIC CLSA, Asia’s leading and longest-running independent brokerage and investment group (a part of CITIC Securities Co., Ltd of China).

Investor sentiments rebound as stock market gains by near 1%

Daily FT – August 12, 2020

Investor sentiments appear to have improved as the Colombo stock market yesterday bounced back to post a near 1% gain with turnover touching a new recent high.

According to CT CLSA Securities year to date net foreign outflow surpassed Rs. 26 billion mark.

Sri Lanka GDP could contract 4-pct in 2020, import controls may drive deficit to 11-pct

Economy Next – July 27, 2020

“I am expecting around 10 percent budget deficit which means debt to GDP of 82 percent of last year-end will go up to slightly above 90 percent (in 2020),” Executive Director, Research/Strategist at CT CLSA Securities, Sanjeewa Fernando said.

“That’s a bad number as a country.”

“Our debt to GDP is pretty high, total debt to GDP as at end last year is 89 percent,” Mathew said. “But with the new interest coming and the rollover of those debts, I’m sure we are going to go well above 90 percent somewhere close to 95 to 96”….

…..Fernando said the government has shown tight spending controls for the first few months of the year, slashing capital spending, which will help keep the deficit.

Sri Lanka GDP could contract 4-pct in 2020, import controls may drive deficit to 11-pct

Economy Next – July 27, 2020

“I am expecting around 10 percent budget deficit which means debt to GDP of 82 percent of last year-end will go up to slightly above 90 percent (in 2020),” Executive Director, Research/Strategist at CT CLSA Securities, Sanjeewa Fernando said.

“That’s a bad number as a country.”

“Our debt to GDP is pretty high, total debt to GDP as at end last year is 89 percent,” Mathew said. “But with the new interest coming and the rollover of those debts, I’m sure we are going to go well above 90 percent somewhere close to 95 to 96”….

…..Fernando said the government has shown tight spending controls for the first few months of the year, slashing capital spending, which will help keep the deficit.

Cry for public to reap maximum benefit from govt’s offer :
Low interest rate regime to continue

Daily News – July 27, 2020

Executive Director Research CT CLSA Sanjeewa Fernando said “overnight liquidity went to Rs 209 billion in late June. That is historically very high. Yesterday the whole system parked Rs 132 billion with the Central Bank at 4.5 percent. Banks are not lending out. Many parties in the economy including the President would prefer to see this money parked with economic agents who are currently struggling to come out of this scenario. Credit growth is not picking up.”

“We have inflation at 6.3 percent and 12 month Treasury bill yield went to 4.6 percent. We are looking at negative real interest rates. Banks need to understand you can’t play this game on a continuous basis.” “The first customers who will approach the bank will be the ones in the CRIB and banks should manage this. Cutting rates and releasing liquidity is not what is required now. You need to identify the exact sectors that require finance and ensure that they get it.”

Fernando called on the general public to take advantage of the low-interest rate regime.

 

Sri Lanka would need hard reforms under an IMF program after elections:

Economy Next – July 25, 2020

“We need to have one strong party ruling the country, whatever the party,” Sanjeewa Fernando, Executive Director Research at CT CLSA Securities, a Colombo-based brokerage told an online forum organized by Sri Lanka’s Echelon Magazine.

“The key here is that we need to have proper policy stability and then there has to be a government to take decisions. It is after that they only if they prefer they can go for hard reforms.

“This is what has been told by the IMF and other institutions that Sri Lanka needs to adopt hard reforms. But we have not done that. I think it’s high time, we have to use this environment to do these things.

“I think this is a good time to do tough reforms which will help Sri Lanka’s economy go to a better state.”

 

Stock market bullish; investors cheer new funding for JKH

Daily FT – June 25, 2020

The Colombo stock market remained bullish for the seventh consecutive day amidst healthy turnover whilst investor cheer for John Keells Holdings (JKH) securing new low cost foreign funding boosted the indices ….according to CT CLSA, JKH contributed the biggest support to the rise with over 23 points.

 

Limit Down, Shut Again for Sri Lanka Stocks After 51-Day Break

Bloomberg – May 11, 2020

“There’s likely to be pent up selling, but as global markets pick up with economies slowly opening up, it might limit some of the downward pressures,” said Sanjeewa Fernando, a strategist at CT CLSA Securities Pvt. in Colombo. Investors would also look at how the Sri Lankan economic recovery unfolds, and how debt management is handled, he said.

 

Foreign interest is back; Rs. 22.7 b JKH deal big boost: Marianne Page

Daily FT – January 13, 2020

Foreign investor interest is back in Sri Lanka and last week’s mega deal worth Rs. 22.7 billion on premier blue chip John Keells Holdings (JKH) is being flagged off as a big boost.

Consultant to the broker to the deal CT CLSA Securities Marianne Page confirmed to the Daily FT yesterday that several foreign investors were keen on buying into JKH though the 10.7% stake was snapped up by Citigroup Global Markets Ltd., Agency Trading Prop Securities A/C. The seller was Malaysia’s sovereign fund Khazanah Nasional Berhad

Citi fund buys stake in Sri Lanka’s John Keells Holdings from Malaysia’s Khazanah

Economynext – January 9, 2020

The Citi Group’s Global Markets Limited has bought a 22.6 billion rupee stake in John Keells Holdings Plc from Malaysia’s sovereign wealth fund Khazanah Nasional Berhad on Thursday, market sources said.

Sources said the Citi Group had bought the shares on behalf of a long-term global institutional investor. CT CLSA had brokered the transaction, a market disclosure said.

4th CT CLSA Asia Frontier Forum concludes

Daily FT – June 13, 2019

The fourth two-day CT CLSA Asia Frontier Forum concluded in Colombo enlightening foreign and local institutional investors with the latest assessment of macroeconomic fundamentals, Government policy and corporate earnings outlook.

Despite challenges and travel advisories, FII delegates from Africa, Asia and Europe joined over 20 institutional fund managers from Sri Lanka to access 19 top tier Sri Lankan corporates and six leading corporates from Bangladesh and Pakistan at the forum this year.

Easter Sunday attacks a setback but macro fundamentals not thrown off-track: CB Chief

Daily FT – June 11, 2019

Central Bank Governor Dr. Indrajit Coomaraswamy yesterday declared that though the Easter Sunday attacks were a setback to the economy, they have not thrown macro fundamentals off-track, nor is there any basis for growth to dip below 3% in 2019.

He gave this assurance to foreign fund managers gathered in Colombo for the two-day CT CLSA Asia Frontier Forum, which kicked off yesterday.

Budget 2019 and impact on listed companies

Daily FT – March 21, 2019

Key insights by CT CLSA Securities Ltd….

Sri Lanka Outlook 2019: Challenges and opportunities

Daily FT – January 21, 2019

Key insights from equity market strategy from CT CLSA Securities Ltd….

JKH’s Rs. 11 b share buyback offer ends

Daily FT – January 17, 2019

According to CT CLSA, JKH share was up 1% in the past 12 months, outperforming the market by 8% and trades at 9% discount to its estimates sum of the parts valuation of Rs. 173….

SL to get US$ 1 billion from China this week

Sunday Observer – October 6, 2018

 

……commenting on the pricing of the CDB loan, Executive Director, Research/Strategist at CT CLSA Securities Ltd., Sanjeewa Fernando said the deal is a favourable one for the island at this point in time since the current external negative impact could be substantially mitigated.

 

“Yes, right now it is a good deal because the worse thing that can happen is someone hiking dollar debt rates (given the rising international interest rate scenario)..….

Stock market climbs to highest close in nearly 3 weeks

Daily FT –September 4, 2018

……Sri Lankan companies posted a 4% total earnings growth in the June quarter from a year earlier, helped by financials, beverage shares, telecommunications, and power and energy sectors, CT CLSA Securities Ltd. said in a research note.….

Corporate earnings up despite tough times

Daily FT –September 3, 2018

……Sri Lankan companies posted a 4% total earnings growth in the June quarter from a year earlier, helped by financials, beverage shares, telecommunications, and power and energy sectors, CT CLSA Securities Ltd. said in a research note.….

SL banks backed for regional expansion

Daily FT –September 1, 2018

……Speaking at a CT CLSA Securities event to launch a report on banking fundamentals, Central Bank Deputy Governor C. J. P. Siriwardana praised the sector and insisted it was stable and well-regulated…. 

Election goodies-driven demand to fuel bank credit next year: report 

Mirror Business –August 14, 2018

……CT CLSA, a leading stockbroking and an equity research firm in Colombo, sees room for banks to expand their loan books from mid-2019….

CT CLSA hosts networking event

Daily FT – May 30, 2018

……CT CLSA recently organised a networking cocktail event for its special invitees, corporate invitees and leading local clients at the Cinnamon Grand ….

‘Kurunegala Investor Forum’ generates strong interest amongst domestic investors

Daily News – May 24, 2018

……a presentation titled ‘Analysis of opportunities available in the Stock Market’ by Sanjeewa Fernando, Executive Director, Research / Strategist, CT CLSA Securities (Pvt) ….

CB Chief tells global equity investors time to focus on SL

Lanka Business – May 10, 2018

……Speaking to a group of over 60 foreign institutional investors (FIIs) brought together to Colombo by leading stock broking firm CT CLSA, the Central Bank Chief said the stabilisation program was progressing satisfactorily….

CT CLSA Asia Frontier Forum kicks off today in Colombo

Lanka Information – May 9, 2018

……Organised in collaboration with Alfalah Securities, Pakistan; Everest Partners Ltd., Bangladesh; Asian Tiger Capital Partners, Bangladesh; and Ho Chi Minh Securities Corporation (HSC), Vietnam, this is the third consecutive year that CT CLSA Securities has taken the lead to host a regional frontier markets forum in Sri Lanka….

Stock market to witness gains in 2018 – Report

Sunday Observer – January 21, 2018

……According to the Sri Lanka Outlook 2018 Report published by CT CLSA Securities (Pvt) Ltd, while the Sri Lankan market trades at a discount to a majority of regional peers such as South Korea, Singapore, Hong Kong, Malaysia, Japan, China, Thailand, Vietnam and India, there are attractive valuations particularly in banking, construction, export related and consumer sectors….

Most profitable Asia cigarette maker faces cheap cigar flood

Mirror Business – October 9, 2017

……Both revenue and net income will grow at a slower pace this year, according to Chayanika Ranasinghe, an analyst at CT CLSA Securities Ltd, in Colombo. The steep decline in sales volume seen after the November action is expected to “moderate, particularly if there are no further drastic tax increments or regulations,” she said….

Growth in the String of Pearls – Apollo Asia Fund: the manager’s report for 2Q17

Apollo Investment Management – July 18, 2017

……I was therefore particularly grateful to have the opportunity to talk to businessmen from Pakistan and Bangladesh as well as Sri Lanka at CT-CLSA’s excellent conference….

CFA Sri Lanka Capital Market Awards recognize the best in the investment profession

Lanka Business News – August 12, 2017

……The Best Stock Broking Research Team: Gold – Asia Securities (Pvt) Ltd, Silver – CT CLSA Securities (Pvt) Ltd….

Manufacturing base vital for economic growth – CSE Chairman

Sunday Observer – April 16, 2017

….Chairman Sarath Amarasinghe, Managing Director Dr. Anush Amarasinghe and members of the Board of Directors and Senior Management of BPPL were present at the ceremony, which was also attended by senior representatives of CT CLSA Capital which managed the IPO process for BPPL….

Mark Mobius shares his mantra for Sri Lanka

Daily FT – November 3, 2015

……”We have had satisfactory returns on our investments to date but Sri Lanka has the potential to offer more and attract much larger investment and we would like to enhance our involvement,” said Mobius during the interview along with Marianne Page, the consultant to CT CLSA Securities Ltd., ….

CLSA invests in SL capital markets group CT Smith Holdings

The Island – May 13, 2014

……CLSA Singapore Holdings (Pvt.) Ltd and Sri Lankan capital markets group CT Smith Holdings Ltd announced a 25% equity investment in CT Smith Holdings Ltd by CLSA, during a media briefing at Kingsbury Hotel on Monday….

2019 - CT CLSA South Asia Frontier Forum

The CT CLSA Asia Frontier Forum 2019, in collaboration with Alfalah CLSA Securities, Pakistan, and our partner networks in Bangladesh and Vietnam, was held during 10-12 June 2019 at the Cinnamon Grand, Colombo. Since its launch in 2011, the annual CT CLSA Investor Forum in Colombo has been a highly regarded and well attended event by FII’s. Evolving to be a South Asia Frontier Forum in 2016 with the inclusion of corporates from Bangladesh and Pakistan, the event was further expanded to include Vietnamese corporates in the last two years.

2018 - CT CLSA South Asia Frontier Forum
Another consecutive year that CT CLSA Securities took the lead to host its  highly-successful annual Sri Lanka Investor Forum, continuously since 2010. The regional frontier markets forum in Sri Lanka was with representation of Pakistani corporates at the forum in collaboration with Alfalah Securities, Pakistan. At the Forum, top tier Sri Lankan corporates conducted one-on-one and group meetings.  

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2017 - CT CLSA South Asia Frontier Forum
In 2017, CT CLSA South Asia Frontier Forum was expanded to feature companies from Vietnam in addition to Corporates from Sri Lanka, Bangladesh and Pakistan .The forum generated very good interest, attracting 25 leading fund managers from Asia, Europe and the US. They had the opportunity to interact with policy makers, regulators, independent analysts, industry experts and from 30 top tier corporates from the 4 countries
2016 - CT CLSA South Asia Frontier Forum
Building on its highly successful annual Sri Lanka Investor Forum, CT CLSA took the initiative in organizing the first South Asian Frontier focused investor forum of Sri Lanka in 2016. CT CLSA South Asia Frontier Forum featured presentation from over 20 Corporates from Sri Lanka, Bangladesh and Pakistan in addition to speeches from high level Government Officials and Policy Makers. The event was attended by over 20 Foreign Institutional Investors from Singapore, Hong Kong, London and USA
2015 - Sri Lanka Investor Forum
2014 - Sri Lanka Investor Forum
2013 - Sri Lanka - The Next Level
2012 - Sri Lanka Investor Forum
2011 - An Investment Odyssey
2010 - Value Investors Paradise