Sri Lankan Invest forum to be held at New York
“Invest Sri Lanka Investor Forum”, organized by the Colombo Stock Exchange and the Securities and Exchange Commission of Sri Lanka in association with CSE Member Firms and leading Listed Companies will take place on 16th October 2017 at the Sofitel New York. The purpose of the forum is to attract US based institutional investors to invest in the capital markets of Sri Lanka. According to sources of the organizer a strong interest for the forum is expected.
The forum will also be addressed by the key note speaker, Governor of the Central Bank of Sri Lanka Dr. Indrajit Coomaraswamy, followed by capital market regulation and the opportunities in the capital market presented by SEC Director General Mr. Vajira Wijegunawardene and CSE CEO Mr. Rajeeva Bandaranaike respectively. The event will also include a speech by CSE chairman Ray Abeywardena and a presentation delivered by Senior Portfolio Manager at Times Square Capital Management Caglar Somek on experience of investing in Sri Lanka.
The forum will also become a point for a set of scheduled one on one interviews between fund manager and Sri Lankan listed companies. Industry giants such as John Keells Holdings PLC, Commercial Bank PLC, Sampath Bank PLC, Tokyo Cement (Lanka) PLC, Teejay Lanka PLC, Dialog PLC, People’s Leasing & Finance PLC, MTD Walkers PLC and Sunshine Holdings PLC are expected to be in attendance for the forum.
The decision to host the event in New York has come largely as a result of a strong level of foreign investment activity in the stock market for the year 2017, with a net inflow of 40 billion rupees recorded so far. United State based investors have accounted for more than 40% of the total foreign turnover since the year 2013.
Chairman of CSE Ray Abeywardena commented, “Numbers related to foreign activity indicate that foreign investors have identified an opportunity in the Sri Lankan stock market. Considering such interest and activity, a forum of this nature in what is largely regarded as the largest Fund Hub in the world would help make a strong case for the Sri Lankan capital market, at a time when we have the attention of foreign investors.”.
The forum was preceded by Invest SL forums conducted in Australia earlier in the year which drew record levels of investment from Australia, which established an all-time high point in foreign purchases originating from Australia in a calendar year./p>
Sri Lankan stock markets have been performing well over the last few years, backed by the strong investor confidence in the development of the country and due to the political stability. Sri Lanka still has many plans that are in the pipeline, particularly in development of infrastructure and growing businesses that are bound to affect a positive growth in the stock markets. Sri Lanka is also in the process of expanding its market share through various free trade agreements. Due to the free trade agreements Sri Lankan, products have the potential to access many of the regions and countries without restriction providing immense value for companies and the overall economy.
New York, presents a logical option as US based investors have been the most engaging in recent years with the stock markets in Sri Lanka. At a time Sri Lanka is actively undergoing efforts to rapidly build up a portfolio of foreign investment that will be able to supplement the Sri Lankan economy, the conference will prove ideal in enticing the most interested investors to come on board.
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