Ten-fold approach to maintain sustainability:

‘Market regulations to boost investor-confidence’

By Sanjeevi Jayasuriya

A joint effort will be taken to develop the capital market, with the implementation of a three-year roadmap to enable the Colombo Stock Exchange(CSE) to become vibrant and robust in the long run.

In keeping with the ambitious growth plan, the capital market will be developed through a ten-fold approach to maintain sustainability and attract local and foreign investors.

Proper Securities and Exchange Commission of Sri Lanka - said.While stressing that the Commission is under no pressure from the Government, he said that investigations initiated prior to his appointment are being carried out without interruption.

“The investigations are on -going and any malpractice or complaint will be looked into. The SEC will complete investigations within their purview and there is no delay in the process, Dr. Godahewa said.

A press conference on the capital market organised jointly by stakeholders was held on Thursday in Colombo.

The CSE recorded an average daily turnover of Rs 900 m during the first ten months of this year and attracted Rs 35 b in foreign investments, accounting for 25 percent market turnover. Market capitalisation stood at Rs 2,136 m.During the year 32,000 new CDS accounts were opened with five IPOs, 13 rights and six debenture issues took place.

“Our development plan is supported by the Budget proposals and we are focussed on implementing the ten initiatives to develop the capital market,” he said.

The globally recognised S and P SL 20 index ensures that the stock market indices are on par with international standards.

The Milanka Price Index (MPI) will be discontinued in January 2013 following the launch of the S and P SL 20 index earlier this year.