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Sunday, 10 May 2015

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Privileged to be listed on CSE - CTC



Managing Director and Chief Executive Officer, Ceylon Tobacco Company, Felicio Ferraz rings the opening bell. Finance Director, CTC, Stephan Matthiesen (on left) and Chairman, CSE, Vajira Kulatilaka look on.

Ceylon Tobacco Company PLC (CTC) opened trading on the Colombo Stock Exchange (CSE) on the first day of trading this month. This event was another in a series of market opening ceremonies, featuring companies from the S&P SL20 index.

"We have a long lasting relationship with the Colombo Stock Exchange, as a listed entity for over 60 years (since 1952). We consider being a listed company on the Colombo Stock Exchange as a privilege. Being listed adds to our value, mainly in terms of governance, reporting and transparency," said Managing Director and Chief Executive Officer, Ceylon Tobacco Company, Felicio Ferraz.

"I would like to see other companies listing - to make (the Stock Exchange) more vibrant as one of the leading frontier markets in the region," he said.

"Investing in the stock market is a risky business, but you can get a high return if you understand what you are doing and invest in the right companies. I was happy to see, that when I arrived here in 2013, our share price was Rs. 800 and after a year it reached Rs. 1,400," Ferraz said.

"I know that our industry is a controversial one, which is why we need to give a higher return and thus we pay 100 percent dividend on our profits. This is seen through the market cap that we have on the Stock Exchange," he added.

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