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| Sunday, 7 September 2003 |
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| News Business Features Editorial
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Developing share trading in the South The Matara branch of MMBL Phillip Securities celebrated 10 years last week and sees much potential in the South. "We want to expand our client base in places such as Kamburupitiya and give them the benefits of the flourishing stock market," said Director and CEO MMBL Phillip Securities Dimuthu Abeysekera. "We were the first stockbroker to move out of Colombo, way back in September 1993. This move was made under the guidance and wishes of the late Mr N.U. Jayawardena, who was our chairman then. "He wanted rural people to also benefit from share trading, in the comfort of their own villages without trudging to Colombo. The officials at the Colombo Stock Exchange and the Securities and Exchange Commission helped us to make it a reality," he said. "Only a few people in these areas knew about share trading then and we conducted a lot of awareness programmes not only in Matara, but also in Galle and the suburbs for schoolchildren, teachers, business people, professionals and the investing public. "We had only two staff members at the start. "Now we have four and enjoy a market share of about 60-65 per cent." Abeysekera said the Matara branch presently has online trading. Its future plans include expanding the client base and providing more facilities. In Colombo, plans are afoot to start Internet trading, which will be expanded to the outstations in time to come. Chairman Matara Share Investors Association Mr Sisiradasa said MMBL Phillip Securities had set the trend 10 years back by establishing a branch in Matara. "It has helped us and saved us from the hassle of travelling to Colombo to buy or sell shares. "Before this branch was established, even to get information, we had to call the broker in Colombo". "After the branch was set up, MMBL Phillips helped us by giving advice and guidance and also by conducting awareness seminars, which has increased the client base". The Association presently has about 2000 members of which about 200 are active members. Speaking of the future, Sisiradasa said that there is more scope for improvement, but that there should be more education and awareness on the subject. |
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| Editorial | Security Produced by Lake House |
