First leg of capital market promotion in Australia successful - CSE says
The ' Invest Sri Lanka Investor Forum' hosted in Sydney by the Colombo Stock Exchange (CSE) in association with the Securities and Exchange Commission of Sri Lanka (SEC) last week drew over 150 participants including institutional investors, high net-worth individuals, Sri Lankans living in Sydney and other individuals with a business interest in Sri Lanka.
The interest in Sri Lanka was evident from the lively interaction the participants had with the Sri Lankan delegation at the Q&A session, with topics ranging from opportunities in the stock market, foreign investor participation in future infrastructure developments, the ease of investing in the Sri Lankan stock market and the future economic potential of Sri Lankan, the CSE said in a statement.
Making the keynote address at the event, Niroshan Perera, State Minister of National Policies and Economic Affairs, said "I urge you to recognise the enormous promise and potential of the emerging New Sri Lanka, built on the foundation of the Government's new agenda of administrative and economic reforms and ease of doing business. On behalf of the Sri Lankan Government I would like to pledge our continued commitment to facilitating investments and stimulating the establishment of transparent and well governed institutions." Stating that Sri Lanka is poised for a renewed drive of development, the minister added that the present Government envisions a globally competitive, export-led economy driven by revolutionary thinking and bold policies".
Sri Lankan High Commissioner to Australia, Somasundaram Skandakumar speaking at the event, said the economic and social progress in Sri Lanka seen in recent times has been complemented by a renewed confidence in the country among the international community, especially in Australia. Adding to his remarks the High Commissioner invited members of the audience to visit Sri Lanka to experience first-hand, the benefits of playing a part in a resilient growth story. Director General of the SEC Vajira Wijegunerwardane speaking at the event expressed his confidence of the market's prospects beyond 2017 and said "We are resolute and unwavering in our insistence on better, more facilitative regulation across the board, and are committed to formulating new policies which will lay a solid foundation for the market, enabling it to grow to potential and to enter new frontiers: all this, while concurrently working on a wide complement of developmental initiatives."
Speaking on behalf of the Colombo Stock Exchange, Chairman of the CSE, Vajira Kulatilaka spoke about the opportunities in the capital market highlighting the comparatively low Price of Earnings Ratios and the diversification opportunity the Colombo Stock market offers. He urged the participants to consider the different debt and equity options on offer including the entry to Colombo through professionally managed funds.