Singapore investor forum sparks foreign inflow to CSE
The Morning: The Invest Sri Lanka investor forum held in Singapore on 12 August concluded successfully with over 150 participants, leading to an immediate foreign investment in the listed operator of the PickMe ride-hailing platform, the Colombo Stock Exchange (CSE) reveals.
Speaking to The Sunday Morning Business, CSE Senior Vice President Marketing Niroshan Wijesundere stated that the investor roadshow organised by the CSE in Singapore, held after a seven-year hiatus, had been highly successful, drawing considerable interest from over 150 potential investors.
He noted that many had been particularly attracted to Sri Lanka due to its compelling turnaround narrative, marked by the rapid recovery following the 2022 economic crisis.
Accordingly, he stated that participants had been particularly keen to understand how Sri Lanka intended to navigate its ongoing economic turnaround and had expressed a strong interest in investing in the country.
Wijesundere therefore opined that, in the coming months, Sri Lanka was likely to witness an uptick in foreign participation in its equity market.
Commenting on the success of the road show, he stated: “We came to know that there was a foreign transaction that happened on the day immediately after the conclusion of the forum, involving Pickme.”
Accordingly, he pointed out that on Wednesday (13), net foreign purchases of Digital Mobility Solutions Lanka PLC, the owner and operator of the PickMe platform, had amounted to Rs. 451.2 million.
Speaking at the Invest Sri Lanka investor forum in Singapore, Deputy Minister of Economic Development Dr. Anil Jayantha Fernando stated that while the CSE had delivered strong returns in recent periods, the market had remained relatively stable.
He attributed the low volatility to proactive measures taken by regulators to maintain a level playing field.
Furthermore, he stated that the Government was of the view that the CSE held significant potential, but emphasised that its growth should not be fuelled by selective access to sensitive information, which should be publicly available to all market participants.
Deputy Minister Fernando added: “The previous situation was that very sensitive information was accessed by a few people at the expense of others, so only those few gained. Now the situation is being changed gradually. From the Government’s side, we will give our fullest support and the CSE and the regulator will do their best to make this publicly available information accessible to everyone.”
He further reassured participants that the new Government was firmly committed to upholding corruption-free governance, ensuring consistency in fiscal policy, and providing the necessary infrastructure to support and attract investors.
He also stated that they would like to reduce tax rates while simultaneously broadening the tax base and to also reduce reliance on indirect taxes.
OSL take:
Sri Lanka is on the path to expand the country’s overall economy while further strengthening its trade ties with foreign countries and attracting more foreign direct investments (FDIs) to Sri Lanka. It is in such a backdrop that the Sri Lankan government has launched a programme to conduct investors forums in key foreign business markets where Sri Lanka’s expanding economy and growing business/investment opportunities are presented to foreign businesses/investors. Sri Lanka’s strategic positioning in the Indian Ocean, the strong trade ties with many foreign countries, the business conducive environment in the country and the incentives on offer have all made Sri Lanka an emerging business destination in the South Asian region. The country’s business potential is evident by the interest shown by many foreign businesses/investors to explore the expanding business/investment opportunities and the prominence placed by foreign countries in Sri Lanka like China placing the country prominently in its Belt and Road Initiative (BRI). Given all these factors, foreign businesses/investors could confidently explore the expanding business/investment opportunities in the key economic sectors in Sri Lanka while also looking at setting up bases in Sri Lanka to engage with other countries in the region.
| Article Code : | VBS/AT/20250820/Z_3 |