The diaspora community should be a part of the growth story of Sri Lanka, Governor Central Bank Ajith Nivard Cabraal told the ‘Invest Sri Lanka’ Investor Forum in UAE.
The event organized by the Securities and Exchange Commission of Sri Lanka (SEC), Colombo Stock Exchange (CSE), in association with the Embassy of Sri Lanka in UAE and the Consulate General of Sri Lanka to Dubai and Northern Emirates was recently held at the Sheraton Grand Hotel Dubai.
“The time is now, for you to take up positions, we still have a lot of potential for the stock exchange to grow. I remember in 2014, if you look at the market capitalization, in dollars, it was about 25 billion after seven years.”
High Commissioner of Sri Lanka, Embassy of UAE Malraj de Silva, stated that he was very happy with the enthusiasm shown by the Sri Lankan community in the UAE in participating in the forum and invited the participants to reap the benefits of investing in the CSE.
He said that clarity for investors was a must and the first step that he took after assuming office as CBSL Governor was to ensure that they give clarity and create stability in the economy. Now that the overall stability of the economy is being maintained, we also need to ensure that there is stability within the community. If Sri Lanka acts in line with its potential, we have an extraordinary growth story to tell for the future.”
Viraj Dayaratne PC, Chairman of the SEC said, “The number of trade that take place has increased tremendously. And as a result, it is necessary for us to ensure the integrity of the market and ensure that no wrong doing is taking place. Hence in order to do that we have enhanced our surveillance functions and the supervisory function.
“We have real time surveillance on a daily basis with regard to the trades that are taking place.”
“The All Share Price Index is up 58%. Year to date, the more liquid S&P 20 index is up 38%. It is a time when all the stars are still very much aligned for continued performance in the stock market in Colombo,” Dumith Fernando chiarman cse said. “First,like most markets around the world we are in a low interest rate regime. This has created very low real interest rates, which has made alternative investments a lot less attractive than the equity markets to many investors. Secondly, the fundamentals are very strong. Corporate earnings are at record levels.’
“In the second quarter of this year, listed companies recorded revenues of Rs 940 billion and profits after tax of Rs 78 billion which is an all-time high.”
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