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| Sunday, 4 January 2004 |
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Business |  |
| News Business Features Editorial
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MBSL Midcap Index revised Merchant Bank of Sri Lanka Ltd. (MBSL) revised its MBSL Midcap Index from January 2. The index, launched in 1999, is revised annually. The stocks of the index are selected on the criteria middle market range capitalisation, liquidity and profitability. As the All Share Price Index (ASPI) and Milanka Price Index are highly sensitive to the price movement of a few large companies, the Midcap, computed by MBSL, aims to properly measure the price movement of medium-size companies. The range for market capitalisation in 2002 was Rs 200 million to Rs 2 billion. With the annual adjustment for the change in the ASPI, the range for 2004 will be Rs 440 million to Rs 4.4 billion. The revision has resulted in 14 stocks been replaced with new ones. The new entrants are NDB Bank, Sampath Bank, MBSL, Union Assurance, Mercantile Leasing, Lion Brewery, Lighthouse Hotel, Connaissance de Ceylan, Royal Palm Beach Hotel, Royal Ceramics, Printcare, Ceylon Grain Elevators, Hunter and Company and Singer (Sri Lanka). The outgoing stocks are Asiri Hospitals, Ceylon Cold Stores, Chemical Industries (Colombo), CT Land Development, Dipped Products, Distilleries, Colombo Dockyard, Lanka Ventures, Maskeliya Plantations, Nestle Lanka, Talawakelle Plantations and Tea Smallholders Factories. The index has the base as 1000 as at December 31, 1998 (the same as the Milanka). The index recorded an all time high of 2918.70 on October 31, 2003. |
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| Editorial | Security Produced by Lake House |
