Aug 28, Colombo: Sri Lanka's securities regulator, Securities and Exchange Commission (SEC) and the Colombo Stock Exchange (CSE) will hold an awareness programme in New York for the international investors.
A statement released Thursday announced that the CSE and the SEC in association with the Sri Lankan Embassy in Washington D.C will host its first "Invest Sri Lanka - Investor Forum" in North America on the 4th of September in New York City.
Bloomberg and the American Chamber of Commerce (AMCHAM) Sri Lanka are the strategic partners.
The forum which would have over 200 participants, including 150 major US Institutional Investors who manage assets over US$ 100 million will be held at the J.W. Marriot Essex House Hotel.
The highest number of Sri Lankan listed companies, in comparison to previous forums, will participate at the event.
The listed companies set to participate are; John Keells Holdings PLC, Commercial Bank of Ceylon PLC, Hatton National Bank PLC, National Development Bank PLC, DFCC Bank, Hayleys PLC, Access Engineering PLC, People's Leasing & Finance PLC, Hemas Holdings PLC, Softlogic Holdings PLC, Tokyo Cement Company (Lanka) PLC, LAUGFS Holdings PLC, Sunshine Holdings PLC and MTD Walkers PLC.
Senior Minister for International Monetary Co‐operation and Deputy Minister of Finance and Planning Dr. Sarath Amunugama and Governor of the Central Bank Ajith Nivard Cabraal will make principal presentations.
Permanent Representative of Sri Lanka to the United Nations in New York Dr. Palitha Kohona, will deliver the opening address at the Forum. Chairman of the Colombo Stock Exchange Vajira Kulatilleka, will speak on the capital market of Sri Lanka.
As an endorsement of the Sri Lankan capital market and the investment experience in Sri Lanka a series of well reputed investment professionals will enlighten the participants on the "Sri Lankan experience".
Head of Emerging Markets, Morgan Stanley Investment Management Ruchir Sharma, Senior Advisor at TPG Capital Michael O'Hanlon and Bloomberg FX Application Specialist Stephen Jonathan will speak at the event and give their insights.
The presentations will be followed by a panel discussion with Dr. Amunugama, Ajith Nivard Cabraal, Chairman of the SEC Dr. Nalaka Godahewa and Vajira Kulatilaka.
The preliminary sessions will be followed by a series of meetings, which will provide participants the opportunity to have one‐on‐one or small group discussions with Sri Lankan listed companies to gain a better understanding of these companies.
"This is the first instance the "Invest Sri Lanka - Investor Forum" will be held in north America and we see it as an ideal time to do so. Thus far in 2014 we have foreign holdings of Rs. 87.4 billion from the United States in the Sri Lankan capital market. This figure is likely to grow as more investors begin to see Sri Lanka as a viable and steady Frontier Market moving towards the status of an Emerging Market," Dr. Godahewa said.
"The Exchange has had a steady growth in the past few months crossing a number of performance indicators, which include highest turnover and the main Index (ASPI) crossing the 7000 mark. It is clear that the market is on a positive trajectory and we expect a period of exponential growth. Furthermore with a number of new companies listing, we are positive that we will be able to offer investors a variety of choice when diversifying their portfolios and selecting their investment options," Kulatilaka said.
This is the third "Invest Sri Lanka - Investor Forum" for the year, with previous Forums being held in Singapore and London in January and May respectively.