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Tuesday, January 22, 2013

CSE records Rs 38 bn NFI’s in ‘12

Plans to double figure in 2013:

H.D.H. Senewiratne

The Colombo Stock Exchange (CSE) which recorded Rs 38 billion net foreign inflows (NFI’s) last year, is now expecting to double the figure this year by vigorous campaigning overseas.

“ In 2012 CSE recorded a Rs 38 billion foreign inflow, which was the highest ever recorded. This was 23 percent of the total investment. We intend to increase this to 30 percent plus this year, Head of Marketing Development Niroshan Wijesundera told Daily News Business.”

He said that as the CSE is one of the most attractive markets in the region it is not a difficult task to promote and attract foreign investors into the country.

Therefore, the CSE has taken initiatives to organize a series of road shows and investment forums overseas to reach the 30 percent plus target before the end of the market, Wijesundera said.

Since India is one of the fast growing economies in the region, the CSE will organize an investment forum in Mumbai on February 21 next month, which is expected to attract around 80 to 100 top fund managers in Mumbai and form other countries including Dubai, he said.

Wijesundera also said that around nine leading listed companies have confirmed their participation in the road show/investment forum. At the event they will highlight and showcase Sri Lanka’s growth potentials and also evaluate Sri Lanka’s equity market and its value proposition.

The purpose of the event was to attract foreign high network investors and top business corporates in Mumbai, Indian’s commercial capital and other investors in the region, he said.

At present nine local listed companies have confirmed their participation in the event.

Those companies are John Keels, Curson Cumberbatch, HNB Bank, NDB Bank, Hayleys DFCC Bank, Commercial Bank, Access International and Dialog. Bloomberg Date Services is organizing the event in Mumbai, he said.

The keynote speech will be delivered by the Minister of International Monetary Corporation and Deputy Minister Finance Dr Sarath Amunugama.

source - www.dailynews.lk