Stock brokering firms have performed remarkably well last year. Earnings will grow substantially by 2012 March. The financial year ending March will also indicate a tremendous amount of profitability in these stock brokering firms, Richard Pieris Securities Chairman Jayantha Perera said.
"All these economic activities will contribute to a better climate for the capital market as well as for the country's economy," Perera said.
The Colombo Stock Exchange announced yesterday that Richard Pieris Securities (Pvt) Ltd has been granted the stock brokering license by the Securities and Exchange Commission of Sri Lanka. They began trading securities in the Automated Trading System (ATS) of the CSE yesterday.
Richard Pieris Group has many international connections. In attracting key foreign investors the company is planning to host a few international road shows in the near future.
"The company targets to embark on other financial related services and broaden their portfolio to provide a better service to investors," Perera said.
"There are abundant market opportunities and many investors have shown interest for direct reflexive investments. The restoration of peace has greatly helped to build up foreign investor confidence and the image of our country."
Perera said Arpico is a well-known household brand and they will capitalize on the huge retail brand image.
"This initiative will immensely assist many Sri Lankans to invest in securities of the capital market."
"We are looking at providing services beyond the services that are commonly provided by the existing stock brokering firms."
"We expect to add more value additions to our portfolio while attracting more foreign investors to the Colombo Stock Exchange (CSE). This will make trading easier for investors and will also boost investor confidence," Perera said.
source - www.dailynews.lk
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