Sri Lanka tells UK investors to partner and profit from new resurgence
Sri Lanka yesterday urged UK-based investors to partner and profit from new resurgence and opportunity in the country under better governance and supportive policies. The message was conveyed at the Invest Sri Lanka Forum organised in London by the Colombo Stock Exchange in association with the Sri Lanka High Commission in UK and Bloomberg. Nearly 150 London-based fund managers, investment advisors and investors attended the event.
The Forum updated participants on some of the recent positive political changes in Sri Lanka and broadly outlined the future direction and new opportunities as well as highlighted how attractive the Colombo stock market is as against other regional exchanges.
Acting High Commissioner Dr. Chanaka Talpahewa in his opening remarks said that the large number of participants confirmed growing interest and confidence in Sri Lanka and its stock market. He said that new Government was in the process of finalising a well-integrated economic policy to boost development, hence the Forum was timely.
Copal Amba Sri Lanka Country Head Chanakya Dissanayake highlighted the macro-economic overview for Sri Lanka whilst CSE Chairman Vajira Kulatilaka recapped performance of the Colombo Bourse vis-Ã -vis global and regional markets as well as prospects for the future. SEC Director General Vajira Wijegunawardane gave a snapshot of some of the ongoing and planned reforms in the capital markets regulatory arena.
Providing an international perspective of experience in investing in Sri Lanka were London Stock Exchange CEO Nikhil Rathi and Stewart Investorâ€™s Ashish Swarup.
The Forum included a panel discussion involving Sri Lankan speakers and was moderated by Bloombergâ€™s Head of Corporate and Investor Access Tom Tyler.
As part of the Forum, over 10 leading Sri Lankan listed companies are participating and yesterday began a series of one-on-one meetings with interested fund managers in UK. Over 140 such meetings have been scheduled for two days.
The participating Lankan firms are John Keells Holdings PLC, Commercial Bank of Ceylon PLC, Hatton National Bank PLC, National Development Bank PLC, Dialog Axiata PLC, Carsons Cumberbatch PLC, Lion Brewery (Ceylon) PLC, Peopleâ€™s Leasing & Finance PLC, Softlogic Holdings PLC, Tokyo Cement PLC, Singer Sri Lanka PLC , MTD Walkers PLC and Sunshine Holdings PLC. These firms are represented by either at chairman, managing director or director levels.
The â€˜Invest Sri Lankaâ€™ Forum in London was held a day after a Breakfast meeting in Zurich on Wednesday to promote Sri Lankaâ€™s new investment profile. The last Sri Lanka Invest Forum in London was a major success and was part of several roadshows held covering cities such as New York, Singapore, Mumbai and Dubai. The Zurich event was a first of its kind as part of the CSEâ€™s initiative to promote Sri Lanka and its capital market.