All share index gained 18.49 points & closed at 1503.02 while Milanka index closed 19.31 points higher at 1631.34.
Turnover was healthy at Rupees 208.4 million.
Seylan Bank was up by Rs. 8.25 (40.74%) and closed at Rs 29.00.
1025800 shares of John Keels Holdings traded at price range of Rs 49.50 to 50.25.
CSE Announcements
PUBLIC QUOTED DEBENTURE ISSUE 2008/2013 OF LKR MILLION EXTENDABLE BY THREE FURTHER TRENCHES OF LKR 200 MILLION EACH IN THE EVENT OF OVERSUBSCRIPTION
The ongoing Debenture Issue 2008/2013 of Seylan Bank PLC which was scheduled to close to the public on 31st December 2008 unless oversubscribed prior to same.However , in view of the Colombo Stock Exchange (CSE) declaring the 26th of December 08 and 1st January 2009 as CSE holidays, kindly note that the closing date of the Debenture Issue will fall on 2nd January 2009 unless oversubscribed prior to same
We wish our readers Happy & Peaceful 2009!
Wednesday, December 31, 2008
Tuesday, December 30, 2008
Today’s trading at Colombo Stock Exchange
30th December 2008.
Market declined further. All share index fell 11.85 points & closed the day at 1484.53. Milanka index closed 24.51 points lower at 1612.03. Turnover was Rupees 97.4.
Seylan Bank trading halt was removed at 12.45 Hrs. Soon after removal of trading halt, Selyan shares reached Rs.22.00 then it was settled at Rs.20.00.
Announcements
COMMERCIAL DEVELOPMENT PLC DIVIDEND
Company ID:- COMD Date of Announcement:- 30.Dec.2008Rate of Dividend:- Rs.1.50 per share -Interim Dividend Financial Year:- 2008XD:- 12.Jan. 2009Payment:- 23.Jan.2009Share Transfer Book Open
Seylan Bank has issued the following statement
Newspaper Articles Re: Monetary Board decision taken on 29th December 2008 on Seylan Bank PLC
We refer to your fax dated 30th December 08 forwarded to us seeking clarification of the articles appearing in today's Daily News and Daily Mirror newspapers and give below Seylan Bank's position as follows:
The Monetary Board of the Central Bank of Sri Lanka at its meeting held on 29th December 08 decided in terms of Section 30 of the Monetary Law Act No. 56 of 1949 (as amended) to carry out the following measures in order to ensure the continued financial stability of the Bank with effect from 29th December 08:
(a) Suspend the business of Seylan Bank with effect from 3.30 p.m. on 29th December 08 and discontinue the services of all current directors of Seylan Bank PLC in terms of Section 30 (1) of the Monetary Law Act;
(b) Resume business of Seylan Bank with effect from 3.45 p.m. on 29th December 08;(c) appoint Bank of Ceylon to carry on the business of Seylan Bank PLC in terms of Section 30 (9) of the Monetary Law Act;
(d) request Bank of Ceylon to appoint the new Board of Directors of Seylan Bank PLC;
(e) continue with the services of the present CEO, Mr Ajita Pasqual and all current employees of Seylan Bank PLC without any interruption.
Accordingly, Bank of Ceylon has appointed the following Directors to the Board of Seylan Bank PLC with effect from 29th December 08:
Mr E Narangoda (Chairman)
Mr Nihal Jayamanne PC
Mr Lalith WithanaMr Neomal Gunawardena.
Yours faithfully
(SIGNED)
(Ms) M R S GUNASEKARA
COMPANY SECRETARY
Market declined further. All share index fell 11.85 points & closed the day at 1484.53. Milanka index closed 24.51 points lower at 1612.03. Turnover was Rupees 97.4.
Seylan Bank trading halt was removed at 12.45 Hrs. Soon after removal of trading halt, Selyan shares reached Rs.22.00 then it was settled at Rs.20.00.
Announcements
COMMERCIAL DEVELOPMENT PLC DIVIDEND
Company ID:- COMD Date of Announcement:- 30.Dec.2008Rate of Dividend:- Rs.1.50 per share -Interim Dividend Financial Year:- 2008XD:- 12.Jan. 2009Payment:- 23.Jan.2009Share Transfer Book Open
Seylan Bank has issued the following statement
Newspaper Articles Re: Monetary Board decision taken on 29th December 2008 on Seylan Bank PLC
We refer to your fax dated 30th December 08 forwarded to us seeking clarification of the articles appearing in today's Daily News and Daily Mirror newspapers and give below Seylan Bank's position as follows:
The Monetary Board of the Central Bank of Sri Lanka at its meeting held on 29th December 08 decided in terms of Section 30 of the Monetary Law Act No. 56 of 1949 (as amended) to carry out the following measures in order to ensure the continued financial stability of the Bank with effect from 29th December 08:
(a) Suspend the business of Seylan Bank with effect from 3.30 p.m. on 29th December 08 and discontinue the services of all current directors of Seylan Bank PLC in terms of Section 30 (1) of the Monetary Law Act;
(b) Resume business of Seylan Bank with effect from 3.45 p.m. on 29th December 08;(c) appoint Bank of Ceylon to carry on the business of Seylan Bank PLC in terms of Section 30 (9) of the Monetary Law Act;
(d) request Bank of Ceylon to appoint the new Board of Directors of Seylan Bank PLC;
(e) continue with the services of the present CEO, Mr Ajita Pasqual and all current employees of Seylan Bank PLC without any interruption.
Accordingly, Bank of Ceylon has appointed the following Directors to the Board of Seylan Bank PLC with effect from 29th December 08:
Mr E Narangoda (Chairman)
Mr Nihal Jayamanne PC
Mr Lalith WithanaMr Neomal Gunawardena.
Yours faithfully
(SIGNED)
(Ms) M R S GUNASEKARA
COMPANY SECRETARY
Monday, December 29, 2008
Bank of Ceylon appointed to carry on business of Seylan Bank Plc
Below is the full announcement issued by Central Bank of Sril anka
Bank Supervision Department
2008-12-29Press Release
Measures Taken to Ensure the Stability of Seylan Bank PLC and the Financial System
The attention of the Monetary Board has been drawn to the recent events in the Ceylinco Group and the difficulties being encountered by Seylan Bank PLC with regard to deposit withdrawals and ensuing liquidity problems. The difficulties of Seylan Bank PLC presented a potential danger to the stability of the financial system. Therefore, the Monetary Board is of the view that immediate measures require to be taken to stabilise the financial system. In that context, the Monetary Board has determined, under Section 30(1) of the Monetary Law Act No.58 of 1949, to do the following, with immediate effect:
(a) to discontinue the services of all current directors of Seylan Bank PLC;
(b) to appoint Bank of Ceylon to carry on the business of Seylan Bank PLC;
(c) to request Bank of Ceylon to appoint the new Board of Directors of Seylan Bank PLC;
(d) to continue with the services of the present CEO and all current employees of Seylan Bank PLC, without any interruption.
Seylan Bank PLC will be open for usual business with customers on 30/12/2008.
The Monetary Board of the Central Bank wishes to inform the public that they should continue with their normal financial transactions with Seylan Bank PLC and that the Monetary Board assures the public of the safety of deposits and the stability of the financial system.
Bank Supervision Department
2008-12-29Press Release
Measures Taken to Ensure the Stability of Seylan Bank PLC and the Financial System
The attention of the Monetary Board has been drawn to the recent events in the Ceylinco Group and the difficulties being encountered by Seylan Bank PLC with regard to deposit withdrawals and ensuing liquidity problems. The difficulties of Seylan Bank PLC presented a potential danger to the stability of the financial system. Therefore, the Monetary Board is of the view that immediate measures require to be taken to stabilise the financial system. In that context, the Monetary Board has determined, under Section 30(1) of the Monetary Law Act No.58 of 1949, to do the following, with immediate effect:
(a) to discontinue the services of all current directors of Seylan Bank PLC;
(b) to appoint Bank of Ceylon to carry on the business of Seylan Bank PLC;
(c) to request Bank of Ceylon to appoint the new Board of Directors of Seylan Bank PLC;
(d) to continue with the services of the present CEO and all current employees of Seylan Bank PLC, without any interruption.
Seylan Bank PLC will be open for usual business with customers on 30/12/2008.
The Monetary Board of the Central Bank wishes to inform the public that they should continue with their normal financial transactions with Seylan Bank PLC and that the Monetary Board assures the public of the safety of deposits and the stability of the financial system.
CSE trading activity - Monday 29th December 2008.
ASI price index fell 9.72 points closed at 1496.38 while more sensitive Milanka index closed the day 11.61 points lower 1636.54.
Turnover was Rupees 36.44 million. John Keels Holdings contributed 21.4 million for the total turnover & closed Rs 2.00 lower at Rs.50.00
Seylan Bank PLC shares remained halted throughout the day due to pending announcement.
Meanwhile local currency depreciated further against US Dollar.
Announcement at Colombo Stock Exchange
NEWSPAPER ARTICLES RE: PROPOSED DIVESTITURE OF CEYLINCO GROUP HOLDING IN SEYLAN BANK AND RELATED ARTICLES
Seylan Bank's position in connection with the above is given below.The Bank's Founder Chairman/Managing Director, Deshmanya Dr. Lalith Kotelawala announced over the weekend of his intention to divest Ceylinco Group's shareholding in Seylan Bank in order to raise funds to meet liabilities of credit card holders of Golden Key Credit Card Co. Ltd.The proposed divestiture of Ceylinco Group's stake in the Bank to a potential reputed investor, the details of which have not been finalized as yet will be carried out with the permission of the Monetary Board of the Central Bank of Sri Lanka and other relevant regulatory authorities.In response to the misleading paper articles appearing in the newspapers, Seylan Bank wishes to emphasize that the intended sale relates only to the shares owned by Ceylinco Group in Seylan Bank. The intended sale is not of the assets of Seylan Bank or any investments made by the Bank. Moreover, the Bank wishes to inform that it will not utilize the depositor's funds to meet the obligations of Golden Key Credit Card Holders.Seylan Bank again wishes to emphasize that as a licensed commercial bank, it is regulated and supervised by the Central Bank of Sri Lanka.The Bank hopes that the above release from the Central Bank and the Bank's clarification of the correct position given herein will dispel any doubts regarding contradictory Articles which appeared in the newspapers the last two days and reassure the Bank's shareholders, stakeholders and other members of the public as to the soundness and stability of the Bank.
NEWS PAPER ARTICLE PUBLISHED IN DAILY NEWS OF 22ND DECEMBER'2008 - SEYLAN BANK PLC
Company conforms that Dr.J.L.B Kotelawala continues to be on the Board of Directors of Seylan Bank PLC as its founder Chairman/ Managing Director.
Turnover was Rupees 36.44 million. John Keels Holdings contributed 21.4 million for the total turnover & closed Rs 2.00 lower at Rs.50.00
Seylan Bank PLC shares remained halted throughout the day due to pending announcement.
Meanwhile local currency depreciated further against US Dollar.
Announcement at Colombo Stock Exchange
NEWSPAPER ARTICLES RE: PROPOSED DIVESTITURE OF CEYLINCO GROUP HOLDING IN SEYLAN BANK AND RELATED ARTICLES
Seylan Bank's position in connection with the above is given below.The Bank's Founder Chairman/Managing Director, Deshmanya Dr. Lalith Kotelawala announced over the weekend of his intention to divest Ceylinco Group's shareholding in Seylan Bank in order to raise funds to meet liabilities of credit card holders of Golden Key Credit Card Co. Ltd.The proposed divestiture of Ceylinco Group's stake in the Bank to a potential reputed investor, the details of which have not been finalized as yet will be carried out with the permission of the Monetary Board of the Central Bank of Sri Lanka and other relevant regulatory authorities.In response to the misleading paper articles appearing in the newspapers, Seylan Bank wishes to emphasize that the intended sale relates only to the shares owned by Ceylinco Group in Seylan Bank. The intended sale is not of the assets of Seylan Bank or any investments made by the Bank. Moreover, the Bank wishes to inform that it will not utilize the depositor's funds to meet the obligations of Golden Key Credit Card Holders.Seylan Bank again wishes to emphasize that as a licensed commercial bank, it is regulated and supervised by the Central Bank of Sri Lanka.The Bank hopes that the above release from the Central Bank and the Bank's clarification of the correct position given herein will dispel any doubts regarding contradictory Articles which appeared in the newspapers the last two days and reassure the Bank's shareholders, stakeholders and other members of the public as to the soundness and stability of the Bank.
NEWS PAPER ARTICLE PUBLISHED IN DAILY NEWS OF 22ND DECEMBER'2008 - SEYLAN BANK PLC
Company conforms that Dr.J.L.B Kotelawala continues to be on the Board of Directors of Seylan Bank PLC as its founder Chairman/ Managing Director.
Saturday, December 27, 2008
Ceylinco Group to divest Investment In Seylan bank?
Ceylinco group chairman Deshabandu Lalith Kothalawala said he decided to divest group stake in Seylan Bank to raise funds to pay back failed company (Golden Key) public deposits.
Selling controlling stake in a bank is not an easy task in Sri Lanka as it has to get approval from Central Bank.
Most probably the buyer will be existing local bank. Seylan shares last traded price was Rs.15.75.
We have to wait till Monday 29th December to see Seylan share price with this announcement.
Selling controlling stake in a bank is not an easy task in Sri Lanka as it has to get approval from Central Bank.
Most probably the buyer will be existing local bank. Seylan shares last traded price was Rs.15.75.
We have to wait till Monday 29th December to see Seylan share price with this announcement.
Wednesday, December 24, 2008
Colombo Shares up! Healthy Turnover Compared to Last Few Days!
Heavy trading in John Keels Holdings contributed Rupees 114.75 million for the total market turnover of Rupees 125.3 million. 2,206,000 shares of JKH traded & closed Rs.2.00 higher at 52.00.
CSE All share index closed 4.93 points higher at 1506.10 while Milanka index closed 4.94 points higher at 1648.15.
Ceylinco Group shares continued to fall. Ceylinco Insurance lost Rs. 16.25 closed at Rs 182.75.
Market will reopen for trading on Monday 29th December 2008.
We take this opportunity to wish a Merry Charismas to all of our blog readers.
CSE All share index closed 4.93 points higher at 1506.10 while Milanka index closed 4.94 points higher at 1648.15.
Ceylinco Group shares continued to fall. Ceylinco Insurance lost Rs. 16.25 closed at Rs 182.75.
Market will reopen for trading on Monday 29th December 2008.
We take this opportunity to wish a Merry Charismas to all of our blog readers.
Tuesday, December 23, 2008
Low Turnover & Declining Trend Continues at Colombo Stock Exchange!
23rd December 2008.
All share index fell 8.62 points & Milanka fell 6.59 points. Turnover was mere Rupees 15.9 million.
Almost all companies in Ceylinco group fell today except ceylinco Insurance PLC which was up by 14 rupees but only 200 shares traded.
John Keels Holdings fell Rs 4.00 & ended at Rs.50.00 while Dialog Telekom was up by 25 cents & closed at Rs. 6.00.
Announcement at CSE
COLONIAL MOTORS PLC -DIVIDEND
Company ID:- COLO Date of Announcement:- 23.Dec.2008Rate of Dividend:- Rs.0.50 per share-First & Final Dividend Financial Year:- 2008Date to be notified
CENTRAL FINANCE COMPANY PLC -DIVIDEND
Company ID:- CFIN Date of Announcement:- 23.Dec.2008Rate of Dividend:- Rs.1.25 per share-First Interim Dividend Financial Year:- 2008/2009XD:- 09.Jan.2009Payment:- 22.Jan.2009Share Transfer Book Open
All share index fell 8.62 points & Milanka fell 6.59 points. Turnover was mere Rupees 15.9 million.
Almost all companies in Ceylinco group fell today except ceylinco Insurance PLC which was up by 14 rupees but only 200 shares traded.
John Keels Holdings fell Rs 4.00 & ended at Rs.50.00 while Dialog Telekom was up by 25 cents & closed at Rs. 6.00.
Announcement at CSE
COLONIAL MOTORS PLC -DIVIDEND
Company ID:- COLO Date of Announcement:- 23.Dec.2008Rate of Dividend:- Rs.0.50 per share-First & Final Dividend Financial Year:- 2008Date to be notified
CENTRAL FINANCE COMPANY PLC -DIVIDEND
Company ID:- CFIN Date of Announcement:- 23.Dec.2008Rate of Dividend:- Rs.1.25 per share-First Interim Dividend Financial Year:- 2008/2009XD:- 09.Jan.2009Payment:- 22.Jan.2009Share Transfer Book Open
Monday, December 22, 2008
CSE -Trading on Monday 22nd December 2008.
CSE All share price index fell 1.11% or 16.97 points & closed at 1509.79 while Milanka Index declined 36.28 & ended at 1649.80.
Turnover was only Rupees 18.7 Million due to low investor participation.
Nawaloka Hospitals PLC (540,500 shares @ 1.70) &Tess Agro (431400) were the only highest quantities traded during the day.
Dialog Telecom was the highest negative contributor & SLT was the second.
Announcements
Associated Electrical Corporation PLC confirmed the investment of Rs. 600 million in AEC Properties (Pvt.) Ltd.
Turnover was only Rupees 18.7 Million due to low investor participation.
Nawaloka Hospitals PLC (540,500 shares @ 1.70) &Tess Agro (431400) were the only highest quantities traded during the day.
Dialog Telecom was the highest negative contributor & SLT was the second.
Announcements
Associated Electrical Corporation PLC confirmed the investment of Rs. 600 million in AEC Properties (Pvt.) Ltd.
Sunday, December 21, 2008
Bharti Airtel launch Delayed Again!
Bharti Airtrel Lanka a subsidiary of Indian Mobile operator expected to launch their cellular network on 18th of December. But it was postponed again.
Rumors are speeding that Airtel is going to offer cheapest mobile tariff than existing mobile operators in Sri Lanka.
Existing Mobile operators already started tariff cuts to face competition from newcomer.
Due to this tariff war the listed & biggest local cellular operator Dialog Telekom shares came down to Rs. 6.00. Investors worried about poor corporate results.
Rumors are speeding that Airtel is going to offer cheapest mobile tariff than existing mobile operators in Sri Lanka.
Existing Mobile operators already started tariff cuts to face competition from newcomer.
Due to this tariff war the listed & biggest local cellular operator Dialog Telekom shares came down to Rs. 6.00. Investors worried about poor corporate results.
Friday, December 19, 2008
CSE Weekly Market Report for the week ended 19th December 2008.
During the past five trading days CSE All Share Index lost 34.62 points while Milanka Price Index shed 52.79, closed the week at 1526.76 & 1686.08 respectively.
There was Rupees 467.8 million turnover recorded averaging RS.93.5 million per day.
Foreigners bought more than what they sold with net foreign inflow of Rs.116 million.
However total market capitalizations of the Colombo Stock Exchange declined to Rs 496.5 billion from 507.8 billion previous week. (Rs 112 = US$ 1)
Top Five Gainers (%)
Blue Diamonds Non Voting 0.40 (+0.10)
Seylan Merchant Bank Non Voting 0.40 (+0.10)
EB Creasy 235.00 (+35.00)
Arpico 30.00 (+4.00)
Hotel Reefcomber 0.80 (+0.10)
Top Five Losers
Udapussellawa Plantation 12.00 (-5.00)
Eastern Merchants 150.00 (-62.00)
Hotel Services 100.00 (-30.00)
Ferntea LTD 3.50 (-0.80)
Beruwella Walkinn 22.25 (-4.75)
CSE Announcements
Special Holiday
The CSE has declared Friday,26th December 2008 as a special CSE Holiday
FERNTEA LTD (NOW UNDER LIQUIDATION)
According to the Order for winding-up of the above, Company informs that the letter of appointment of Liquidators have been served on December 18, 2008.
There was Rupees 467.8 million turnover recorded averaging RS.93.5 million per day.
Foreigners bought more than what they sold with net foreign inflow of Rs.116 million.
However total market capitalizations of the Colombo Stock Exchange declined to Rs 496.5 billion from 507.8 billion previous week. (Rs 112 = US$ 1)
Top Five Gainers (%)
Blue Diamonds Non Voting 0.40 (+0.10)
Seylan Merchant Bank Non Voting 0.40 (+0.10)
EB Creasy 235.00 (+35.00)
Arpico 30.00 (+4.00)
Hotel Reefcomber 0.80 (+0.10)
Top Five Losers
Udapussellawa Plantation 12.00 (-5.00)
Eastern Merchants 150.00 (-62.00)
Hotel Services 100.00 (-30.00)
Ferntea LTD 3.50 (-0.80)
Beruwella Walkinn 22.25 (-4.75)
CSE Announcements
Special Holiday
The CSE has declared Friday,26th December 2008 as a special CSE Holiday
FERNTEA LTD (NOW UNDER LIQUIDATION)
According to the Order for winding-up of the above, Company informs that the letter of appointment of Liquidators have been served on December 18, 2008.
Thursday, December 18, 2008
CSE Daily Report 18th December 2008.
Colombo Stock Exchange ended today’s trading with almost unchanged indices.
ASI 1526.27 (+0.75)
MPI 1689.64 (-1.88)
Turnover was Rupees 81.43 million. Highly capitalized blue chip John Keells Holdings lost another two rupees & closed at Rs.55.00. Sri Lanka Telecom shares ended 25 cents higher at Rs 31.75.
Commercial Bank of Ceylon shares which continuously fell in past few days gained 50 cents today & closed at Rupees 69.00.
Market will fluctuate within narrow range in coming weeks of current year due to lack of market moving news & holidays.
ASI 1526.27 (+0.75)
MPI 1689.64 (-1.88)
Turnover was Rupees 81.43 million. Highly capitalized blue chip John Keells Holdings lost another two rupees & closed at Rs.55.00. Sri Lanka Telecom shares ended 25 cents higher at Rs 31.75.
Commercial Bank of Ceylon shares which continuously fell in past few days gained 50 cents today & closed at Rupees 69.00.
Market will fluctuate within narrow range in coming weeks of current year due to lack of market moving news & holidays.
National Development Bank Acquiring Controlling Interest in Bangladesh Merchant Bank
NDB has informed that they have obtained regulatory approvals from both Sri Lanka & Bangladesh authorities to go ahead with above takeover.
NDB has executed a joint venture agreement with Capital Market Services Ltd of Bangladesh & its existing shareholders.
They further said the investment would be made in Capital Market Services Ltd subject to fulfillment of pre investment conditions.
NDB has executed a joint venture agreement with Capital Market Services Ltd of Bangladesh & its existing shareholders.
They further said the investment would be made in Capital Market Services Ltd subject to fulfillment of pre investment conditions.
Wednesday, December 17, 2008
Colombo Stock Exchange Daily Market Report
17th December 2008.
Today indices went up few points. Turnover was Rupees 76.25 million.
ASI 1525.52 -up by 1.33 points.
Milanka 1691.52 - up by 6.28 points.
Piramal Glass Ceylon Plc recorded the highest No of shares with 1,136,000 shares traded at Rs.1.40 per share. The second highest was Kshtriya Holdings Plc with 1,055,400 shares traded at Rs. 3.00 per share.
CSE Announcements
BANK OF CEYLON (BANK) - DEBENTURE ISSUE
The debentures of the above Bank will be listed on 19th December 2008 on the Debt Securities-Main Board of the CSE.The assigned securities codes are as follows:Debenture Type and Security CodeFixed rate debentures (19%) payable annually- BOC.Do138 Variable rate debentures payable bi-annually- BOC.Do139Zero coupon debenture payable at maturity- BOC.Do140Deposits would be accepted by the Central Depository Systems (Pvt) Ltd (CDS) with immediate effect.
HOTEL SERVICES [CEYLON] PLC - Article published in Sunday Leader Newspaper on 14th December 2008
The company informed that the major shareholders have made it known to their brokers from the inception in dealing with the many inquires that have come their way; the shares owned by them would be available for sale in the event that a satisfactory offer is received.The SLPA too among others had shown an interest in the company last July but subsequently the interest had waned off and lapsed there been no definitive discussions or negotiations with SLPA thereafter.The main shareholders are also unaware of the truth or accuracy of the contents of the Cabinet Memorandum which has been published in the Sunday Leader of the 14th of December 2008 since it is presumably confidential.The fact that there has not been any price movement or trading activity consequent to the aforesaid newspaper article, may go on to show that the news was not of any significance to the market.
ROYAL CERAMICS LANKA PLC - DIVIDEND
Company ID:- RCL Date of Announcement:- 17.Dec. 2008.Rate of Dividend:- Rs.1.00 per share[Tax Free]-Interim Dividend Financial Year:- 2008/2009XD:- 19.Dec.2008 Payment:- 31.Dec.2008Share Transfer Book Open
Today indices went up few points. Turnover was Rupees 76.25 million.
ASI 1525.52 -up by 1.33 points.
Milanka 1691.52 - up by 6.28 points.
Piramal Glass Ceylon Plc recorded the highest No of shares with 1,136,000 shares traded at Rs.1.40 per share. The second highest was Kshtriya Holdings Plc with 1,055,400 shares traded at Rs. 3.00 per share.
CSE Announcements
BANK OF CEYLON (BANK) - DEBENTURE ISSUE
The debentures of the above Bank will be listed on 19th December 2008 on the Debt Securities-Main Board of the CSE.The assigned securities codes are as follows:Debenture Type and Security CodeFixed rate debentures (19%) payable annually- BOC.Do138 Variable rate debentures payable bi-annually- BOC.Do139Zero coupon debenture payable at maturity- BOC.Do140Deposits would be accepted by the Central Depository Systems (Pvt) Ltd (CDS) with immediate effect.
HOTEL SERVICES [CEYLON] PLC - Article published in Sunday Leader Newspaper on 14th December 2008
The company informed that the major shareholders have made it known to their brokers from the inception in dealing with the many inquires that have come their way; the shares owned by them would be available for sale in the event that a satisfactory offer is received.The SLPA too among others had shown an interest in the company last July but subsequently the interest had waned off and lapsed there been no definitive discussions or negotiations with SLPA thereafter.The main shareholders are also unaware of the truth or accuracy of the contents of the Cabinet Memorandum which has been published in the Sunday Leader of the 14th of December 2008 since it is presumably confidential.The fact that there has not been any price movement or trading activity consequent to the aforesaid newspaper article, may go on to show that the news was not of any significance to the market.
ROYAL CERAMICS LANKA PLC - DIVIDEND
Company ID:- RCL Date of Announcement:- 17.Dec. 2008.Rate of Dividend:- Rs.1.00 per share[Tax Free]-Interim Dividend Financial Year:- 2008/2009XD:- 19.Dec.2008 Payment:- 31.Dec.2008Share Transfer Book Open
Tuesday, December 16, 2008
Marginal Drop at Colombo Stock Exchange
16th December 2008
Today market opened on a positive note but ended the day little bit lower. ASI index fell 3.32 points & closed at 1524.19 while more sensitive Milanka index closed the day 2.71 points lower at 1685.24.
Turnover was Rs. 152 million. JKH contributed over 60% of total turnover. 1,576,513 JKH shares traded during the day & closed 50 cents lower at 57.75.
Meanwhile the Distilleries Company of Sri Lanka (DCSL) contributed RS. 42.2 million to total turnover by trading 808,200 shares.
Dividend Announcements
JANASHAKTHI INSURANCE COMPANY
Company ID:- JINS Date of Announcement:- 16.Dec.2008Rate of Dividend:- Rs.0.50 per share-Interim Dividend Financial Year:- 2008XD:- 19.Dec. 2008 Payment:- 31.Dec.2008Share Transfer Book Open
CHEVRON LUBRICANTS LANKA PLC
Company ID:-LLUB Date of Announcement:-16.Dec. 2008.Rate of Dividend:- Rs.1.00 per share-Fourth Interim Dividend Financial Year:- 2008XD:- 23.Dec.2008 Payment:- 06.Jan.2009Share Transfer Book Open
Today market opened on a positive note but ended the day little bit lower. ASI index fell 3.32 points & closed at 1524.19 while more sensitive Milanka index closed the day 2.71 points lower at 1685.24.
Turnover was Rs. 152 million. JKH contributed over 60% of total turnover. 1,576,513 JKH shares traded during the day & closed 50 cents lower at 57.75.
Meanwhile the Distilleries Company of Sri Lanka (DCSL) contributed RS. 42.2 million to total turnover by trading 808,200 shares.
Dividend Announcements
JANASHAKTHI INSURANCE COMPANY
Company ID:- JINS Date of Announcement:- 16.Dec.2008Rate of Dividend:- Rs.0.50 per share-Interim Dividend Financial Year:- 2008XD:- 19.Dec. 2008 Payment:- 31.Dec.2008Share Transfer Book Open
CHEVRON LUBRICANTS LANKA PLC
Company ID:-LLUB Date of Announcement:-16.Dec. 2008.Rate of Dividend:- Rs.1.00 per share-Fourth Interim Dividend Financial Year:- 2008XD:- 23.Dec.2008 Payment:- 06.Jan.2009Share Transfer Book Open
Monday, December 15, 2008
Colombo Stock Exchange -Trading Activity – 15-12-2008.
Market further down today. All share index ended the day at 1527.51(-33.87) while Milanka index closed the day 1687.95 (Down by 50.92 points).
Turnover was rupees 54.85 million. Chevron Lanka Lubricant PLC contributed Rs 26.19 million to the total turnover with 287900 shares.
Main reason for the heavy fall in indices was due price decline in Sri Lanka Telecom & Dialog Telecom which was down by Rs. 1.75 & 0.25 cents respectively. (Both stocks still represent larger percentage of the market capitalization)
Turnover was rupees 54.85 million. Chevron Lanka Lubricant PLC contributed Rs 26.19 million to the total turnover with 287900 shares.
Main reason for the heavy fall in indices was due price decline in Sri Lanka Telecom & Dialog Telecom which was down by Rs. 1.75 & 0.25 cents respectively. (Both stocks still represent larger percentage of the market capitalization)
Friday, December 12, 2008
Colombo Stock Exchange Weekly Market Report
Week Ended 11th December 2008.
Trading days limited to only 3 days due to two religious holidays. Downward trend slowed during the week as ASI declined only 5.79 points & ended the week at 1561.38 while Milanka index fell only 1.67 points & ended at 1738.87.
Top 5 gainers
Hotel Sigiriya 24.25 (+6.25)
Lanka Ashok 249.50 (+49.50)
Tangerine Hotel 29.00 (+4.50)
Hunas falls Hotels 22.00 (+3.50)
Amaya Leisure 20.00 (+3.25)
Top 5 Losers
Sathosa Motors 60.25 (-19.75)
Beruwala Walk Inn 27.00 (-8.00)
ARPICO 26.00 (-7.50)
Seylan Merchant X 0.30 (-0.10)
Blue Diamonds X 0.30 (-0.10)
Total Market Capitalization for the week ended 11th Dec 2008 was Rupees 507.8 billion.
Trading days limited to only 3 days due to two religious holidays. Downward trend slowed during the week as ASI declined only 5.79 points & ended the week at 1561.38 while Milanka index fell only 1.67 points & ended at 1738.87.
Top 5 gainers
Hotel Sigiriya 24.25 (+6.25)
Lanka Ashok 249.50 (+49.50)
Tangerine Hotel 29.00 (+4.50)
Hunas falls Hotels 22.00 (+3.50)
Amaya Leisure 20.00 (+3.25)
Top 5 Losers
Sathosa Motors 60.25 (-19.75)
Beruwala Walk Inn 27.00 (-8.00)
ARPICO 26.00 (-7.50)
Seylan Merchant X 0.30 (-0.10)
Blue Diamonds X 0.30 (-0.10)
Total Market Capitalization for the week ended 11th Dec 2008 was Rupees 507.8 billion.
Thursday, December 11, 2008
Sri Lanka Shares & Currency down marginally
Today at CSE indices were down few points. Rupee depreciated to Rs 111 level against USD.
When local currency depreciates it hurts badly foreign investors than local investors. Because they will have to suffer foreign exchange loss, in addition to losses from declining stock value.
Due to this situation foreign investors may consider to sell their stocks now & buy back later once Rupee down and stabilized at lower levels.
49.6 million Turnover recorded during the day at CSE.
There were Rupees 13.5 million foreign purchases and 19.7 million foreign selling.
Seylan Bank PLC Debenture issue & Capital Reach Leasing is now open for subscriptions.
Application forms & prospectus can be downloaded from http://www.cse.lk/
When local currency depreciates it hurts badly foreign investors than local investors. Because they will have to suffer foreign exchange loss, in addition to losses from declining stock value.
Due to this situation foreign investors may consider to sell their stocks now & buy back later once Rupee down and stabilized at lower levels.
49.6 million Turnover recorded during the day at CSE.
There were Rupees 13.5 million foreign purchases and 19.7 million foreign selling.
Seylan Bank PLC Debenture issue & Capital Reach Leasing is now open for subscriptions.
Application forms & prospectus can be downloaded from http://www.cse.lk/
Wednesday, December 10, 2008
Sri Lanka Stocks Up
Today at CSE, market ended little higher on low volumes. All share index ended 22.22 points higher at 1568.91 while Milanka index closed 32.24 higher than previous day at 1752.78.
Turnover was very poor 17.1 million rupees.
Sri Lanka Telecom closed one Rupee higher at 32.75 & Dialog Telekom closed day 25 cents higher at Rs. 6.50.
CSE - Announcement s
VALLIBEL POWER ERATHNA PLC - DIVIDEND
Company ID:- VPEL
Date of Announcement:- 10.Dec. 2008.Rate of Dividend:- Rs.0.12 Per Share(Tax free)-Interim Dividend Financial Year:- 2008/2009XD:- 07.Dec.2008 Payment:- 30.Dec.2008.
Share Transfer Book - Open.
Turnover was very poor 17.1 million rupees.
Sri Lanka Telecom closed one Rupee higher at 32.75 & Dialog Telekom closed day 25 cents higher at Rs. 6.50.
CSE - Announcement s
VALLIBEL POWER ERATHNA PLC - DIVIDEND
Company ID:- VPEL
Date of Announcement:- 10.Dec. 2008.Rate of Dividend:- Rs.0.12 Per Share(Tax free)-Interim Dividend Financial Year:- 2008/2009XD:- 07.Dec.2008 Payment:- 30.Dec.2008.
Share Transfer Book - Open.
The basics of the forex market
The foreign exchange, or forex, market is relatively young, having begun in the early 1970s after the United States dropped the gold standard and national currencies started to fluctuate widely. For about 30 years prior to that, most nations had agreed to keep their currency values stable in relation to the U.S. dollar, making a forex market unnecessary. With that no longer the case, banks quickly realized that a profit could be made in “buying” currency when it was devalued and “selling” it after it strengthened, just like any other commodity.
Today, the forex market handles about $1.9 trillion in transactions every day, and it runs 24 hours a day, five days a week. (With nations around the world involved, it’s always daytime somewhere.) The most traded currencies are the U.S. dollar, the euro, Japanese yen, British pound, Swiss franc and Australian dollar.
The forex market is overwhelmingly dominated by international banks, government banks, investment banks, corporations, and hedge funds. In fact, individual traders account for only about 2 percent of the market. Nonetheless, a lot of people do try their hand at it, with varying degrees of success.
In the forex market, transactions are always handled in pairs: You buy one currency and sell another one. The idea is to make a trade when you believe the currency you’re buying is going to go up in value compared to the one you’re selling. Then, if it turns out your prediction was correct, you do another trade in the reverse direction -- selling the currency you originally bought and buying the one you sold -- in order to reap the profits.
For example, let’s say the market reports this: GBP/EUR 1.2200. That means the cost of buying one British pound is 1.22 euros. If you believed that course was going to change, and the euro was going to become more valuable than the pound, you might sell 100,000 pounds, buy 100,000 euros, and wait. Then let’s say a few weeks later, the exchange rate fluctuates to this: EUR/GBP 1.3100. Sure enough, the euro is now worth 1.31 pounds, a profit of 0.11 per unit.
The forex market is vast and daunting and mostly inhabited by giant organizations. But it can be navigated by individuals who have studied the finer points and who want to take a risk on something potential profitable. And since the whole world uses money, the trading of that money is always going to be a major force in the financial world.
Today, the forex market handles about $1.9 trillion in transactions every day, and it runs 24 hours a day, five days a week. (With nations around the world involved, it’s always daytime somewhere.) The most traded currencies are the U.S. dollar, the euro, Japanese yen, British pound, Swiss franc and Australian dollar.
The forex market is overwhelmingly dominated by international banks, government banks, investment banks, corporations, and hedge funds. In fact, individual traders account for only about 2 percent of the market. Nonetheless, a lot of people do try their hand at it, with varying degrees of success.
In the forex market, transactions are always handled in pairs: You buy one currency and sell another one. The idea is to make a trade when you believe the currency you’re buying is going to go up in value compared to the one you’re selling. Then, if it turns out your prediction was correct, you do another trade in the reverse direction -- selling the currency you originally bought and buying the one you sold -- in order to reap the profits.
For example, let’s say the market reports this: GBP/EUR 1.2200. That means the cost of buying one British pound is 1.22 euros. If you believed that course was going to change, and the euro was going to become more valuable than the pound, you might sell 100,000 pounds, buy 100,000 euros, and wait. Then let’s say a few weeks later, the exchange rate fluctuates to this: EUR/GBP 1.3100. Sure enough, the euro is now worth 1.31 pounds, a profit of 0.11 per unit.
The forex market is vast and daunting and mostly inhabited by giant organizations. But it can be navigated by individuals who have studied the finer points and who want to take a risk on something potential profitable. And since the whole world uses money, the trading of that money is always going to be a major force in the financial world.
Tuesday, December 9, 2008
Eagle Insurance PLC – 3rd Quarter Turnover up by 24%
Eagle Insurance a subsidiary of Aviva PLC Group of UK released their 3rd quarter results. Turnover for the nine month ended 30th September 2008 was Rupees 5,117 million. (Last year it was Rs. 4,118 million)
But the net profit after tax was down from Rs 98 million to Rs. 51 million.
In early 2006, UK based Insurance company Aviva acquired Eagle insurance from National Development Bank. Aviva is the one of oldest company in insurance industry. It has 57000 employees all over the world & over 350 billion Sterling Pounds under management.
But the net profit after tax was down from Rs 98 million to Rs. 51 million.
In early 2006, UK based Insurance company Aviva acquired Eagle insurance from National Development Bank. Aviva is the one of oldest company in insurance industry. It has 57000 employees all over the world & over 350 billion Sterling Pounds under management.
Monday, December 8, 2008
Colombo Stock Market Today
Despite most Asian markets made gains, Colombo Stocks continued its’ downward trend.
Investors are slowly switching from stocks to fixed income securities such as fixed deposits & treasury bills. All share index fell 18.48 points & ended at 1548.69 while Milanka ended the day at 1720.54.
Commercial Bank of Ceylon shares further declined on oil hedging deal & ended the day at Rupees 66.25 (down by 3.00)
The total equity turnover for the day was Rs. 30.9 million.
CSE Announcements
IMPOSING MARKET HALT
The Board of Directors of the CSE, at a meeting held on the 20th November 2008, has decided that, in the event the Milanka Price Index (MPI) (or the index that may replace the MPI in the future) drops 5% within the day from the previous market day's close, a "Market Halt" be imposed on all equity securities for a period of 30 minutes. This would be effective from 2nd January 2009.Market wide index based circuit breakers are imposed by stock exchanges to halt trading of equity securities in order to provide a "cooling off" period when there is an unusual movement in the index. Please note that the Broker Firms may cancel any pending orders during the "Market Halt". However, Broker Firms cannot enter new orders or amend pending orders during the "Market Halt".
Investors are slowly switching from stocks to fixed income securities such as fixed deposits & treasury bills. All share index fell 18.48 points & ended at 1548.69 while Milanka ended the day at 1720.54.
Commercial Bank of Ceylon shares further declined on oil hedging deal & ended the day at Rupees 66.25 (down by 3.00)
The total equity turnover for the day was Rs. 30.9 million.
CSE Announcements
IMPOSING MARKET HALT
The Board of Directors of the CSE, at a meeting held on the 20th November 2008, has decided that, in the event the Milanka Price Index (MPI) (or the index that may replace the MPI in the future) drops 5% within the day from the previous market day's close, a "Market Halt" be imposed on all equity securities for a period of 30 minutes. This would be effective from 2nd January 2009.Market wide index based circuit breakers are imposed by stock exchanges to halt trading of equity securities in order to provide a "cooling off" period when there is an unusual movement in the index. Please note that the Broker Firms may cancel any pending orders during the "Market Halt". However, Broker Firms cannot enter new orders or amend pending orders during the "Market Halt".
Saturday, December 6, 2008
Colombo Stock Exchange Weekly Market Report
Week ended 5th December 2008
Overall negative sentiment prevailed throughout the week. Both turnover & share prices declined.
Total equity turnover at Colombo Stock Exchange during the week was only Rupees 271 million compared to Rupees one billion last week.
Total market capitalization dropped to Rupees 509.7 billion from 535 billion last week.
There was heavy retail buying on Vallibel Power shares due to speculation. Rumors are spreading that USA buyer already paid an advance for takeover this company.
Investors are advised to buy highly undervalued fundamentally sound stocks as these stocks will be first to benefit when market recover.
We can expect massive price gains in Colombo Stocks within near future with end of the ongoing military campaign to defeat terrorists.
Overall negative sentiment prevailed throughout the week. Both turnover & share prices declined.
Total equity turnover at Colombo Stock Exchange during the week was only Rupees 271 million compared to Rupees one billion last week.
Total market capitalization dropped to Rupees 509.7 billion from 535 billion last week.
There was heavy retail buying on Vallibel Power shares due to speculation. Rumors are spreading that USA buyer already paid an advance for takeover this company.
Investors are advised to buy highly undervalued fundamentally sound stocks as these stocks will be first to benefit when market recover.
We can expect massive price gains in Colombo Stocks within near future with end of the ongoing military campaign to defeat terrorists.
Friday, December 5, 2008
Colombo Stocks continue to fall
Commercial Bank of Ceylon shares fell sharply after their announcement to the Colombo Stock Exchange regarding oil hedging deal with Ceylon Petroleum Corporation. Commercial bank shares closed at Rs.69.50 (Down by 4.75)
All Share Index 1567.17 (-36.64)
Milanka Index 1740.54 (-61.12)
Turnover was Rs 56.4 Million.
Foreign Purchases Rs. 14.3 Million.
Foreign sales 18.8 Million.
Top Five Gainers (Closing Prices Rs.)
Blue Diamonds 0.40 (+33.33%)
Hunters 240.00 (+26.32%)
Colonial Motors 27.50 (+14.58%)
Reefcomber 0.80 (+14.29%)
Top Five Losers (Closing Prices Rs.)
Lanka Tiles 27.50 (-19.12%)
Radiant Gems 12.00 (-17.24%)
Serendib Hotels / Non Voting 13.75 (-14.06%)
Dipped Products 56.50(-12.06%)
Bogala Graphite 11.00 (-10.20%)
Announcements
CIC AGRI BUSINESSES (PVT.)
"Chemical Industries (Colombo) PLC, through its subsidiary CIC Agri Businesses (Private) Limited has recently commenced dairy development activities in the Eastern Province and Polannaruwa District. As a first step CIC Agri Businesses (Private) Limited singed an agreement with Mahaweli Livestock and Agro Enterprises (Pvt) Ltd, to manage two farms in Welikande and Punani. The main object is to develop the liquid milk industry in and around these farms which boost of a heritage in the dairy industry. The Company will be providing technical support and infrastructure for collection of milk, preservation and transport based out of these two farms.The companies' collection/production of milk which is around 600 to 800 liters a day would increase to more than 25,000 liters in a period of five years. The milk produced will be converted to added value forms which will be sold through marketing network in the Western Province and in the Metro cities. The program is also coupled with a maize and soya bean out grower network which would benefit the Livestock Industry. The investment is envisaged over a five year period and will be approximately over five hundred million"
CORPORATE DISCLOSURE OF INFORMATION - COMMERCIAL BANK'S WTI CRUDE OIL HEDGING CONTRACT WITH CPC
On 28 November 2008, the Supreme Court issued an Interim Order suspending the payment by Ceylon Petroleum Corporation (CPC) of the payments under CPC's oil hedging contracts.Commercial Bank has an outstanding "WTI Crude Oil Hedging Contract with CPC" due to expire on 30 June 2009. Commercial Bank has a continuing liability under its back-to-back hedge contract with its international counterparty. If the suspension of payments under this hedging contract continues, our liability under our contract to make payments to our back-to-back market risk counterparty would total USD 8.93 Million (Rs.982, 300,000 at today's exchange rate of Rs.110) if the price of WTI Crude Oil remains at the current price of USD 48 per barrel throughout the remaining period of this contractCommercial bank has obtained all required legal documentation to support this contract.
All Share Index 1567.17 (-36.64)
Milanka Index 1740.54 (-61.12)
Turnover was Rs 56.4 Million.
Foreign Purchases Rs. 14.3 Million.
Foreign sales 18.8 Million.
Top Five Gainers (Closing Prices Rs.)
Blue Diamonds 0.40 (+33.33%)
Hunters 240.00 (+26.32%)
Colonial Motors 27.50 (+14.58%)
Reefcomber 0.80 (+14.29%)
Top Five Losers (Closing Prices Rs.)
Lanka Tiles 27.50 (-19.12%)
Radiant Gems 12.00 (-17.24%)
Serendib Hotels / Non Voting 13.75 (-14.06%)
Dipped Products 56.50(-12.06%)
Bogala Graphite 11.00 (-10.20%)
Announcements
CIC AGRI BUSINESSES (PVT.)
"Chemical Industries (Colombo) PLC, through its subsidiary CIC Agri Businesses (Private) Limited has recently commenced dairy development activities in the Eastern Province and Polannaruwa District. As a first step CIC Agri Businesses (Private) Limited singed an agreement with Mahaweli Livestock and Agro Enterprises (Pvt) Ltd, to manage two farms in Welikande and Punani. The main object is to develop the liquid milk industry in and around these farms which boost of a heritage in the dairy industry. The Company will be providing technical support and infrastructure for collection of milk, preservation and transport based out of these two farms.The companies' collection/production of milk which is around 600 to 800 liters a day would increase to more than 25,000 liters in a period of five years. The milk produced will be converted to added value forms which will be sold through marketing network in the Western Province and in the Metro cities. The program is also coupled with a maize and soya bean out grower network which would benefit the Livestock Industry. The investment is envisaged over a five year period and will be approximately over five hundred million"
CORPORATE DISCLOSURE OF INFORMATION - COMMERCIAL BANK'S WTI CRUDE OIL HEDGING CONTRACT WITH CPC
On 28 November 2008, the Supreme Court issued an Interim Order suspending the payment by Ceylon Petroleum Corporation (CPC) of the payments under CPC's oil hedging contracts.Commercial Bank has an outstanding "WTI Crude Oil Hedging Contract with CPC" due to expire on 30 June 2009. Commercial Bank has a continuing liability under its back-to-back hedge contract with its international counterparty. If the suspension of payments under this hedging contract continues, our liability under our contract to make payments to our back-to-back market risk counterparty would total USD 8.93 Million (Rs.982, 300,000 at today's exchange rate of Rs.110) if the price of WTI Crude Oil remains at the current price of USD 48 per barrel throughout the remaining period of this contractCommercial bank has obtained all required legal documentation to support this contract.
Thursday, December 4, 2008
Colombo Stock Exchange recorded the lowest turnover in recent past
It was the second day that massive turnover drop at Colombo Stock Exchange. It was mere 13 Million Rupees.
Both ASI & MPI indices were down marginally.
Top Gainers
Mercantile Shipping 103.50 (+18.97%)
Amana 8.00 (+18.52%)
Ceylinco Finance 9.75 (+11.43%)
Ceylinco Insurance (Non Voting) 149.75 (+10.11%)
Ceylon Theaters 27.00 (+8%)
Top Losers
Beruwella Walkinn 31.00 (-36.41%)
Hunas Falls Hotel 15.25 (-17.57%)
Tess Agro 0.60 (-14.29%)
E B Creasy Co. 200.00 (-13.04%)
Morisons 260.00 (-10.34%)
281600 shares of Nawaloka Hospitals & 242400 shares of Primal Glass were the only significant trades.
Although share volumes are drying up this is the best time to buy as prices at Colombo Stock Exchange fallen to historically low levels. Investors who can lock their money for 2 – 3 years can be greatly benefit from current stock prices.
Announcements
LANKA MARINE SERVICES (PRIVATE) LIMITED - JKH
Pursuant to the operating update in the Provisional Financial Statements of John Keells Holdings PLC dated 30th October 2008 this announcement is made with respect to the deposit of Rs. 153.2 Mn made by Lanka Marine Services (Pvt) Ltd (LMS) to secure any terminal benefits to be determined by the Commissioner General of Labour to employees of LMS consequent to an order of the Supreme Court in SC FR Case No. 209/2007.When a Fundamental Rights application filed by 77 employees of LMS on 26th November 2008 (SC FR Case No. 539/08) came up for leave to support in the Supreme Court today (03-12-2008), the Court made order that the Commissioner General of Labor makes order that the said sum of Rs. 153.2 Mn be paid to the employees of LMS.This announcement is being made pending receipt of the official record of the court proceedings.
Offer to purchase Shares of Associated Electrical Corporation PLC (AEC) by AEC in terms of Section 64 of the Companies Act No.7 of 2007 (ACT) from the Shareholders willing to sell at a price of Rupees One Thousand Eight Hundred (Rs. 1,800) per Share.
The Company informed that in the announcement made on 24th September 2008 with regard to same they have stated by error that the offer to repurchase will close on the 4th December 2008.Company informed that the correct date the offer closes should read as 5th December 2008 as set out in the Circular to Shareholders that was sent after the Extra Ordinary General Meeting (EGM) held on 20th October 2008.
Both ASI & MPI indices were down marginally.
Top Gainers
Mercantile Shipping 103.50 (+18.97%)
Amana 8.00 (+18.52%)
Ceylinco Finance 9.75 (+11.43%)
Ceylinco Insurance (Non Voting) 149.75 (+10.11%)
Ceylon Theaters 27.00 (+8%)
Top Losers
Beruwella Walkinn 31.00 (-36.41%)
Hunas Falls Hotel 15.25 (-17.57%)
Tess Agro 0.60 (-14.29%)
E B Creasy Co. 200.00 (-13.04%)
Morisons 260.00 (-10.34%)
281600 shares of Nawaloka Hospitals & 242400 shares of Primal Glass were the only significant trades.
Although share volumes are drying up this is the best time to buy as prices at Colombo Stock Exchange fallen to historically low levels. Investors who can lock their money for 2 – 3 years can be greatly benefit from current stock prices.
Announcements
LANKA MARINE SERVICES (PRIVATE) LIMITED - JKH
Pursuant to the operating update in the Provisional Financial Statements of John Keells Holdings PLC dated 30th October 2008 this announcement is made with respect to the deposit of Rs. 153.2 Mn made by Lanka Marine Services (Pvt) Ltd (LMS) to secure any terminal benefits to be determined by the Commissioner General of Labour to employees of LMS consequent to an order of the Supreme Court in SC FR Case No. 209/2007.When a Fundamental Rights application filed by 77 employees of LMS on 26th November 2008 (SC FR Case No. 539/08) came up for leave to support in the Supreme Court today (03-12-2008), the Court made order that the Commissioner General of Labor makes order that the said sum of Rs. 153.2 Mn be paid to the employees of LMS.This announcement is being made pending receipt of the official record of the court proceedings.
Offer to purchase Shares of Associated Electrical Corporation PLC (AEC) by AEC in terms of Section 64 of the Companies Act No.7 of 2007 (ACT) from the Shareholders willing to sell at a price of Rupees One Thousand Eight Hundred (Rs. 1,800) per Share.
The Company informed that in the announcement made on 24th September 2008 with regard to same they have stated by error that the offer to repurchase will close on the 4th December 2008.Company informed that the correct date the offer closes should read as 5th December 2008 as set out in the Circular to Shareholders that was sent after the Extra Ordinary General Meeting (EGM) held on 20th October 2008.
Wednesday, December 3, 2008
Stock Market Today
Another day of low turnover & activity. Two indices moved in two different directions. CSE All Share index closed 5.17 points lower at 1606.74 while Milanka Index ended the day at 1806.07 up by 2.49 points.
Very low turnover of Rs. 28.4 Million recorded during the day.
Top Gainers
Mullers 0.50 (+25%)
Ceylinco Insurance Company PLC 199.75 (+14.14%)
Lanka Ceramic 36.00 (+9.92%)
Lanka Cement 7.25 (+7.41%)
Browns Beach Hotel 21.25 (+6.25%)
Ceylinco Finance 8.75 (+6.06%)
Top Losers
Blue Diamonds (Non Voting) 0.30 (-25%)
Tangerine Beach Hotel 24.50 (-17.65%)
Arpico Finance 33.50 (-11.84%)
Riverina Hotels 28.50 (-10.24%)
Ceylinco Insurance Company (Non Voting) 136.00 (-9.33%)
Announcement from CSE listed Companies.
COLOMBO DOCKYARD PLC
Announcement under section 9.1(IV)-15 of listing Rules of Colombo Stock ExchangePlease be informed that, Colombo Dockyard PLC has issued bonds and guarantees amounting to Rs. 6,387.78 million as at 30th November 2008, in its regular course of business.
ARPICO FINANCE COMPNAY PLC - RIGHTS ISSUE
Company ID : ARPIThree (03) New Shares for every Seven (07) Shares held, at a Price of Rs.25.00 Per Share.No of Shares to be issued: 787,500 Ordinary SharesCurrent Stated Capital: Rs.30, 687,500Purpose: to meet the Core Capital requirement The Rights Issue is Subject to the CSE Approving, in Principle, the Issue and Listing of Shares and Obtaining Shareholder's approval at a General Meeting.
DELISTING OF COMMERCIAL LEASING COMPANY PLC SHARES FROM THE COLOMBO STOCK EXCHANGE
The Company has informed that at meeting held by the Board of Directors of Commercial Leasing Company PLC (CLC), 2nd December, 2008, it was resolved to delist the shares of CLC from the Colombo Stock Exchange.
Very low turnover of Rs. 28.4 Million recorded during the day.
Top Gainers
Mullers 0.50 (+25%)
Ceylinco Insurance Company PLC 199.75 (+14.14%)
Lanka Ceramic 36.00 (+9.92%)
Lanka Cement 7.25 (+7.41%)
Browns Beach Hotel 21.25 (+6.25%)
Ceylinco Finance 8.75 (+6.06%)
Top Losers
Blue Diamonds (Non Voting) 0.30 (-25%)
Tangerine Beach Hotel 24.50 (-17.65%)
Arpico Finance 33.50 (-11.84%)
Riverina Hotels 28.50 (-10.24%)
Ceylinco Insurance Company (Non Voting) 136.00 (-9.33%)
Announcement from CSE listed Companies.
COLOMBO DOCKYARD PLC
Announcement under section 9.1(IV)-15 of listing Rules of Colombo Stock ExchangePlease be informed that, Colombo Dockyard PLC has issued bonds and guarantees amounting to Rs. 6,387.78 million as at 30th November 2008, in its regular course of business.
ARPICO FINANCE COMPNAY PLC - RIGHTS ISSUE
Company ID : ARPIThree (03) New Shares for every Seven (07) Shares held, at a Price of Rs.25.00 Per Share.No of Shares to be issued: 787,500 Ordinary SharesCurrent Stated Capital: Rs.30, 687,500Purpose: to meet the Core Capital requirement The Rights Issue is Subject to the CSE Approving, in Principle, the Issue and Listing of Shares and Obtaining Shareholder's approval at a General Meeting.
DELISTING OF COMMERCIAL LEASING COMPANY PLC SHARES FROM THE COLOMBO STOCK EXCHANGE
The Company has informed that at meeting held by the Board of Directors of Commercial Leasing Company PLC (CLC), 2nd December, 2008, it was resolved to delist the shares of CLC from the Colombo Stock Exchange.
Tuesday, December 2, 2008
Low Activity at Colombo Share Market
Declining trend which started on Monday continued today. All share index ended the day at 1611.91 (-24.59) & Milanka finished the day at 1803.58 (-25.91).
Turnover was Rs. 33.4 Million which is lowest in past four years.
Investors are not willing to invest without positive signals from both local & world economy.
Top gainers for the day.
Company Closing Price (Rs)
Asiri Hospitals 55.00 (+22.22%)
Seylan Merchant Leasing 1.75 (+20.59%)
Richard Peris Exports 8.75 (+12.9%)
C T Land Development 13.50 (+12.50%)
Asiri Surgical Hospitals 6.25 (+4.17%)
Top losers for the day
Mullers 0.4 0 (-20%)
Renuka City Hotels 75.00 (-14.77%)
Lanka Ceramics 32.75 (-14.38%)
Dipped Products 64.25 (-13.18%)
Ceylinco Insurance 175.00 (-12.50%)
Announcements
ASIRI SURGICAL HOSPITAL PLC - DIVIDEND
Company ID:- AMSL Date of Announcement:- 02.Dec. 2008.Rate of Dividend:- Rs.0.075 Per Share(Tax Free) - Interim DividendFinancial Year:- 2008/2009XD:- 04.Dec. 2008 Payment:- 17.Dec. 2008Share Transfer Book Open
ASIRI HOSPITALS PLC - DIVIDEND
Company ID:- ASIR Date of Announcement:- 02.Dec. 2008.Rate of Dividend:- Rs.0.75 Per Share(Partly Taxable) - Interim Dividend Financial Year:- 2008/2009XD:- 05.Dec.2008 Payment:- 19.Dec.2008Share Transfer Book Open
Turnover was Rs. 33.4 Million which is lowest in past four years.
Investors are not willing to invest without positive signals from both local & world economy.
Top gainers for the day.
Company Closing Price (Rs)
Asiri Hospitals 55.00 (+22.22%)
Seylan Merchant Leasing 1.75 (+20.59%)
Richard Peris Exports 8.75 (+12.9%)
C T Land Development 13.50 (+12.50%)
Asiri Surgical Hospitals 6.25 (+4.17%)
Top losers for the day
Mullers 0.4 0 (-20%)
Renuka City Hotels 75.00 (-14.77%)
Lanka Ceramics 32.75 (-14.38%)
Dipped Products 64.25 (-13.18%)
Ceylinco Insurance 175.00 (-12.50%)
Announcements
ASIRI SURGICAL HOSPITAL PLC - DIVIDEND
Company ID:- AMSL Date of Announcement:- 02.Dec. 2008.Rate of Dividend:- Rs.0.075 Per Share(Tax Free) - Interim DividendFinancial Year:- 2008/2009XD:- 04.Dec. 2008 Payment:- 17.Dec. 2008Share Transfer Book Open
ASIRI HOSPITALS PLC - DIVIDEND
Company ID:- ASIR Date of Announcement:- 02.Dec. 2008.Rate of Dividend:- Rs.0.75 Per Share(Partly Taxable) - Interim Dividend Financial Year:- 2008/2009XD:- 05.Dec.2008 Payment:- 19.Dec.2008Share Transfer Book Open
Monday, December 1, 2008
CSE Market Report 01-12-2008
Heavy Trading witnessed in Vallibel Power Erarthna PLC (VPEL) following article published on Sunday newspaper. According to the news article the much awaited deal to sell controlling interest of VPEL will be concluded within next week. VPEL originally announced about this deal six months ago.
4,662,500 shares of VPEL traded during the day & closed at LKR 3.50 (Up by 30 Cents or 9.38%).
Initially market opened on a positive note but closed marginally lower. ASI closed at 16363.50(-3.44) & Milanka closed at 1829.49 (-13.04).
4,662,500 shares of VPEL traded during the day & closed at LKR 3.50 (Up by 30 Cents or 9.38%).
Initially market opened on a positive note but closed marginally lower. ASI closed at 16363.50(-3.44) & Milanka closed at 1829.49 (-13.04).
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