Foreign investors contribute 38% of CSE turnover

The Colombo Stock Exchange (CSE) and the Securities and Exchange Commission of Sri Lanka (SEC) hosted the 'Invest Sri Lanka' Investor Forum at the Shangri-La Hotel in Hong Kong recently.

Governor of the Central Bank, Ajith Nivard Cabraal, Chairman of the Securities and Exchange Commission, Dr. Nalaka Godahewa and Chairman of the Colombo Stock Exchange, Krishan Balendra made presentations.

The forum was followed by a Q and A session for investors. Small group discussions were held with senior executives of select listed companies for investors considering investment in Sri Lanka.

Listed companies, John Keells Holdings, Commercial Bank of Ceylon, DFCC Bank, Distilleries Company of Sri Lanka, Nations Trust Bank, Dialog Axiata, Hayleys, Ceylinco Insurance, Access Engineering, People's Leasing and Finance, and Tokyo Cement Company (Lanka) conducted one-on-one meetings with the foreign investors at the forum.

The foreign investor contribution to the total market turnover of the CSE has increased to 38% during the year to date, in comparison to 25% in 2012. The market has also recorded a net foreign inflow of Rs. 18 billion for this year.

Governor of the Central Bank, Ajith Nivard Cabraal said, "In Sri Lanka, the stage is now set for the economy to move to a US $ 100 billion economy and to raise per capita income to US $ 4,000 by 2016. We invite foreign investors to join us and be active partners in this exciting journey."

Chairman of the Securities and Exchange Commission of Sri Lanka, Dr. Nalaka Godahewa said, "As the regulator, our primary function is to protect the interest of investors and facilitate market development. It is important for us to understand the fine line between the two objectives and strike the correct balance. Since the end of terrorism the market has started delivering encouraging results and the CSE has been experiencing a record foreign inflow in recent times. Currently foreign investors account for approximately 38% of the total market turnover".