4 Steps to Picking a Stock

by Tina Carleton (Contact Author Biography)
Story Tools
In today's global economy, weeding through vast amounts of information to arrive at an investment conclusion is very difficult. But there are steps you can take to create a screening process to help sift through the large universe of ideas and arrive at a manageable number that merit further investigation. Here, we'll take you through those steps.

Step 1: The Broadest ViewSome investors start their search with an industry or theme that has compelling drivers for growth but is currently out of favor. As an example, prospects for growing household formation led some investors to favor building stocks after the real estate crash of the early 1990s. Others look for industries that are strong but still have room to grow based on their positive long-term fundamentals. With the aging baby boomer population, healthcare has been such a theme in the 2000s. Choosing a theme can be a first step toward creating a smaller universe of stocks. (Learn more about how looking at the big picture can help you spot investment trends in A Top-Down Approach To Investing.)

Step 2: Company StatisticsOnce a theme is established, whittling down the potential universe of stocks is necessary. Many investors have a particular company size they are comfortable with. Market capitalization of the firm, calculated by multiplying the number of shares outstanding by the current stock price, is a common measure of company size. Generally, firms are categorized as micro-, small-, mid- and large-capitalization, depending on the outstanding value of their stock. Most investors are familiar with the large-cap companies that are household names, such as General Electric (NYSE:GE), Proctor and Gamble (NYSE:PG) and Pfizer (NYSE:PFE). However, some themes focus on more obscure segments of the market where only smaller companies participate, such as ethanol or modular rental companies. After narrowing the potential list of companies by market capitalization, investors may review company characteristics, including growth prospects. If a company or industry is in the early stages of the business or product life cycle, investors generally expect very high growth in sales, earnings, or other relevant numbers. More mature companies are expected to display slower growth, but at a steadily rising rate. Growth also plays a role in dividend payments. Younger or high-growth companies usually reinvest free cash flows back into the company, while more mature companies may choose to use cash flow to pay above-average dividends. Other components of a screen focus on a company's financial position through financial ratios, such as liquidity ratios, debt ratios and profitability ratios. Liquidity ratios generally look at a company's cash and short-term asset position relative to its short-term liabilities and its ability to meet its short-term obligations, particularly working capital. Debt ratios generally look at a company's ability to service its debt obligations and the size of a company's debts relative to its equity or assets. Finally, profitability ratios provide information about the return on assets employed, dollars invested, or equity held. (Learn more about ratio analysis by reading Analyze Investments Quickly With Ratios.)Another screen includes stock valuation parameters that help investors determine whether a stock price is attractive relative to the company's earnings, assets, book value, and other characteristics. Common valuation multiples include price-to-earnings (P/E), price-to-sales (P/S), price-to-book (P/B) and enterprise value to earnings before interest, taxes, depreciation and amortization (EV/EBITDA).

Step 3: Constructing the ScreenThere are several professional software packages for screening, and some brokerage firms and public websites also offer much of this information. To construct a screen according to the above criteria, investors first need to determine investment goals, particularly time horizon, tax implications and risk tolerance. Once goals are determined, investors can choose the criteria parameters used in the screen. (For more on this, read
Example 1A 22-year-old investor just landed his first job out of college and wants to put some graduation gift money into some stocks. He has a long time horizon, wishes to minimize taxes, and has a high risk tolerance. He feels comfortable with an early-stage company that offers high growth potential over the long term, but also higher risk than a more mature company. His screening criteria focus should be the following:
Early-stage industries
High revenue growth
Smaller market capitalization (less than $1 billion)
Ratios: early stage companies generally have unattractive ratios as they seek capital and spend more than they have to launch the business
Valuation: generally only price-to-sales is a possible measure as earnings are typically negative

Example 2A recently retired man with no dependents other than a spouse and no long-term debt generally has a lower risk tolerance and needs to ensure his savings will last through the remainder of his life. This investor feels more comfortable with mature companies with lower growth potential. His screening criteria should focus on the following:
Mature industries
Low- or no-growth companies
Larger market capitalization
Ratios: strong liquidity and low debt ratios, high return ratios
Valuation: generally any ratio fits, but using P/E, P/B or EV/EBITDA are common; this investor should seek low multiples and high dividend yields

Step 4: Narrowing the OutputEven after the use of screens, many companies may still fit your criteria. Narrowing the list requires some further scrutiny about the particular companies, such as one's comfort level with the industry, or personal or social concerns. When the field is narrowed sufficiently, it is time to perform deep analysis of the company using all publicly available information, including Securities and Exchange Commission (SEC) filings and company or investor websites. ConclusionWhile an abundance of information and options can make investing overwhelming, understanding your investment goals and constructing a screen based on those goals will help you select stocks that meet your needs. However, it is important to remember that these screening steps, while narrowing down the list of potential investment candidates, are no replacement for in-depth fundamental analysis.
By Tina Carleton, (Contact Author Biography)

Companies listed with Colombo Stock Exchange & their respective codes

Bank Finance & Insurance
NATIONAL DEVELOPMENT BANK PLC
NDB.N0000
SEYLAN BANK PLC
SEYB.N0000
NATIONS TRUST BANK PLC
NTB.N0000
LB FINANCE PLC
LFIN.N0000
FIRST CAPITAL HOLDINGS PLC
CFVF.N0000
JANASHAKTHI INSURANCE COMPANY PLC
JINS.N0000
PAN ASIA BANKING CORPORATION PLC
PABC.N0000
COMMERCIAL BANK OF CEYLON PLC
COMB.N0000
CEYLINCO FINANCE PLC
CSF.N0000
HNB ASSURANCE PLC
HASU.N0000

COMMERCIAL BANK OF CEYLON PLC
COMB.X0000

HATTON NATIONAL BANK PLC
HNB.X0000

SEYLAN BANK PLC
SEYB.X0000
AMANA TAKAFUL PLC
ATL.N0000
ASIA CAPITAL PLC
ACAP.N0000
CEYLINCO INSURANCE PLC
CINS.N0000
DEVELOPMENT FINANCE CORPORATION OF CEYLON (DFCC)
DFCC.N0000
LANKA VENTURES PLC
LVEN.N0000
ASIAN ALLIANCE INSURANCE PLC
AAIC.N0000
THE FINANCE COMPANY PLC
TFC.N0000
PEOPLE`S MERCHANT BANK PLC
PMB.N0000
MERCHANT BANK OF SRIL LANKA PLC
MBSL.N0000
SEYLAN MERCHANT BANK PLC
SEMB.N0000
ARPICO FINANCE COMPANY PLC
ARPI.N0000
SAMPATH BANK PLC
SAMP.N0000
SEYLAN MERCHANT LEASING PLC
SMLL.N0000
CAPITAL DEVELOPMENT AND INVESTMENT COMPANY PLC
CDIC.N0000
CAPITAL REACH LEASING COMPANY LIMITED.
CRL.N0000
HOUSING DEVELOPMENT FINANCE CORPORATION BANK OF SRIL LANKA
HDFC.N0000
CENTRAL FINANCE COMPANY PLC
CFIN.N0000
ALLIANCE'S FINANCE COMPANY PLC
ALLI.N0000
COMMERCIAL LEASING COMPANY PLC
COML.N0000
VANIK INCORPORATION LIMITED
VANI.X0000
VANIK INCORPORATION LIMITED
VANI.N0000
LANKA ORIX LEASING COMPANY PLC
LOLC.N0000
EAGLE INSURANCE PLC
CTCE.N0000
LB FINANCE PLC
LFIN.W0004
UNION ASSURANCE PLC
UAL.N0000

Beverage Food & Tobacco

COCO LANKA PLC
COCO.N0000
CARGILLS (CEYLON) PLC
CARG.N0000
BAIRAHA FARMS PLC
BFL.N0000
CEYLON COLD STORES PLC
CCS.N0000
DISTILLERIES COMPANY OF SRI LANKA PLC
DIST.N0000
CEYLON TOBACCO COMPANY PLC
CTC.N0000
THREE ACRE FARMS PLC
TAFL.N0000
KOTMALE HOLDINGS PLC
LAMB.N0000
HARISCHANDRA MILLS PLC
HARI.N0000
NESTLE LANKA PLC
NEST.N0000
KEELLS FOOD PRODUCT PLC
KFP.N0000
CONVENIENCE FOODS LANKA PLC
SOY.N0000
LANKA MILK FOODS (CWE) PLC
LMF.N0000
THE LION BREWERY CEYLON PLC
LION.N0000

FERNTEA LIMITED
FERN.N0000

CEYLON TEA SERVICES PLC
CTEA.N0000

TEA SMALLHOLDER FACTORIES PLC
TSML.N0000

CEYLON BREWERY PLC
BREW.N0000

Chemical & Pharmaceuticals
LAXAPANA BATTERIES PLC
LITE.N0000
LANKEM CEYLON PLC
LCEY.N0000
CHEMICAL INDUSTRIES (COLOMBO) PLC
CIC.N0000
CHEMICAL INDUSTRIES (COLOMBO) PLC
CIC.X0000
CHEMANEX PLC
CHMX.N0000
UNION CHEMICALS LANKA PLC
UCAR.N0000
SINGALANKA STANDARD CHEMICALS PLC
SING.N0000
J.L. MORISONS, SONS & JONES (CEYLON) PLC
MORI.X0000
J.L. MORISONS, SONS & JONES (CEYLON) PLC
MORI.N0000
HAYCARB PLC
HAYC.N0000
INDUSTRIAL ASPHALTS (CEYLON) PLC
ASPH.N0000

Constructions & Engineering
COLOMBO DOCKYARD PLC
DOCK.N0000
MTD WALKERS PLC
KAPI.N0000
LANKEM DEVELOPMENTS PLC
LDEV.N0000

Diversified Holdings
THE COLOMBO FORT LAND & BUILDING COMPANY PLC
CFLB.N0000
RICHARD PIERIS & COMPANY PLC
RICH.N0000
KSHATRIYA HOLDINGS PLC
CSEC.N0000
JOHN KEELLS HOLDINGS PLC
JKH.N0000
CEYLON THEATRES PLC
CTHR.N0000
HAYLEYS PLC
HAYL.N0000
CARSONS CUMBERBATCH PLC
CARS.N0000
HEMAS HOLDINGS PLC
HHL.N0000
AITKEN SPENCE PLC
SPEN.N0000

SUNSHINE HOLDINGS PLC
SUN.N0000

FINLAYS COLOMBO PLC
JFIN.N0000

Footwear & Textiles

CEYLON LEATHER PRODUCTS PLC
CLPL.N0000
KURUWITA TEXTILE MILLS PLC
KURU.N0000
HAYLEYS MGT KNITTING MILLS PLC
MGT.N0000

Health Care
ASIRI SURGICAL HOSPITAL PLC
AMSL.N0000
CEYLON HOSPITALS PLC (DURDANS)
CHL.X0000
NAWALOKA HOSPITALS PLC
NHL.N0000
ASIRI HOSPITALS PLC
ASIR.N0000
THE LANKA HOSPITAL CORPORATION PLC
LHCL.N0000
CEYLON HOSPITALS PLC (DURDANS)
CHL.N0000
ASIRI CENTRAL HOSPITALS PLC
ASHA.N0000

Hotels & Travels
JOHN KEELLS HOTELS PLC
KHL.N0000
SERENDIB HOTELS PLC
SHOT.X0000
HUNAS FALLS HOTELS PLC
HUNA.N0000
STAFFORD HOTELS PLC
STAF.N0000
PEGASUS HOTELS OF CEYLON PLC
PEG.N0000
THE FORTRESS RESORS PLC
RHTL.N0000
MARAWILA RESORTS PLC
MARA.N0000
CONFIFI HOTEL HOLDINGS PLC
PALM.N0000
CEYLON HOTELS CORPORATION PLC
CHOT.N0000
HOTEL REEFCOMBER PLC
REEF.N0000
ASIAN HOTELS & PROPERTIES PLC
AHPL.N0000
HOTEL SIGIRIYA PLC
HSIG.N0000
AMAYA LEISURE PLC
CONN.N0000
GALADARI HOTELS (LANKA) PLC
GHLL.N0000
BERUWELA WALK INN PLC
BINN.N0000
RIVERINA HOTELS LIMITED
BHR.N0000
TAJ LANKA HOTELS PLC
TAJ.N0000
HOTEL DEVELOPERS (LANKA) PLC
HDEV.N0000
KANDY HOTELS COMPANY (1938) PLC
KHC.N0000
SERENDIB HOTELS PLC
SHOT.N0000
THE LIGHTHOUSE HOTEL PLC
LHL.N0000
EDEN HOTEL LANKA PLC
EDEN.N0000
RENUKA CITY HOTEL PLC
RENU.N0000
MAHAWELI REACH HOTELS PLC
MRH.N0000
SIGIRIYA VILLAGE HOTELS PLC
SIGV.N0000
AITKEN SPENCE HOTELS HOLDINGS PLC
AHUN.N0000
BROWNS BEACH HOTELS PLC
BBH.N0000
TRANS ASIA HOTELS PLC
TRAN.N0000
TANGERINE BEACH HOTELS PLC
TANG.N0000
HOTEL SERVICES (CEYLON) PLC
SERV.N0000
ROYAL PALMS BEACH HOTEL
RPBH.N0000
NUWARA ELIYA HOTELS COMPANY PLC
NEH.N0000
MIRAMAR BEACH HOTEL PLC
MIRA.N0000

Information Technology
E-CHANNELLING PLC
ECL.N0000

Investment Trusts
COLOMBO FORT INVESTMENTS PLC
CFI.N0000
ASCOT HOLDINGS PLC
ASCO.N0000
KSHATRIYA HOLDINGS PLC
CSEC.N0000
COLOMBO INVESTMENT TRUST PLC
CIT.N0000
RENUKA HOLDINGS PLC
RHL.N0000
CEYLON INVESTMENT PLC
CINV.N0000
WATAPOTA INVESTMENTS PLC
WAPO.N0000
SUNSHINE HOLDINGS PLC
SUN.N0000
CEYLON GUARDIAN INVESTMENT TRUST PLC
GUAR.N0000

Land & Properties
OVERSEAS REALTY (CEYLON) PLC
OSEA.N0000
PROPERTY DEVELOPMENT PLC
PDL.N0000
CEYLINCO SEYLAN DEVELOPMENTS PLC
CSD.N0000
COLOMBO LAND & DEVELOPMENT COMPANY PLC
CLND.W0005
EQUITY ONE PLC
EQIT.N0000
COLOMBO LAND & DEVELOPMENT COMPANY PLC
CLND.N0000
CEYLINCO HOUSING & REAL ESTATE CO. PLC
CHOU.N0000
CARGO BOAT DEVELOPMENT COMPANY PLC
CABO.N0000
TOUCHWOOD INVESTMENT LIMITED
TWOD.N0000
KELSEY DEVELOPMENTS PLC
KDL.N0000
EAST WEST PROPERTIES PLC
EAST.N0000
C T LAND DEVELOPMENT PLC
CTLD.N0000
YORK ARCADE HOLDINGS PLC
YORK.N0000
EQUITY TWO PLC
ETWO.N0000
COMMERCIAL DEVELOPMENT COMPANY PLC
COMD.N0000
ON'ALLY HOLDINGS PLC
ONAL.N0000
HUEJAY INTERNATIONAL INVESTMENTS PLC
HUEJ.N0000
ASSOCIATED PROPERTY DEVELOPMENT PLC
APDL.N0000
SERENDIB LAND LIMITED
SLND.N0000
INFRASTRUCTURE DEVELOPERS LTD
IDL.N0000
LAND & BUILDING PLC
LAND.N0000
SHAW WALLACE & HEDGES PLC
SHAW.N0000

Manufacturing
KELANI TYRES PLC
TYRE.N0000
LANKA CEMENT PLC
LCEM.N0000
ROYAL CERAMIC LANKA PLC
RCL.N0000
ACME PRINTING & PACKAGING PLC
ACME.N0000
ACL CABLES PLC
ACL.N0000
TOKYO CEMENT CO. (LANKA) PLC
TKYO.X0000
SAMSON INTERNATIONAL PLC
SIL.N0000
LANKA WALLTILE PLC
LWL.N0000
PARQUET (CEYLON) PLC
PARQ.N0000
DANKOTUWA PORCELAIN PLC
DPL.N0000
PIRAMAL GLASS CEYLON PLC
GLAS.N0000
PELWATTE SUGAR INDUSTRIES PLC
SUGA.N0000
CHEVRON LUBRICANTS LANKA PLC
LLUB.N0000
CEYLON GRAIN ELEVATORS PLC
GRAN.N0000
SIERRA CABLES PLC
SIRA.N0000
BOGALA GRAPHITE LANKA PLC
BOGA.N0000
HAYLEYS EXPORTS PLC
HEXP.N0000
BLUE DIAMONDS JEWELLERY WORLDWIDE PLC
BLUE.N0000
ABANS ELECTRICALS PLC
ABAN.N0000
ALUFAB LIMITED
ALUF.N0000
KELANI CABLES PLC
KCAB.N0000
RICHARD PIERIS EXPORTS PLC
REXP.N0000
LANKA CERAMIC PLC
CERA.N0000
LANKA TILES PLC
TILE.N0000
TOKYO CEMENT CO. (LANKA) PLC
TKYO.N0000
DIPPED PRODUCTS PLC
DIPD.N0000
CENTRAL INDUSTRIES PLC
CIND.N0000
PRINTCARE PLC
CARE.N0000
BLUE DIAMONDS JEWELLERY WORLDWIDE PLC
BLUE.X0000
ASSOCIATED ELECTRICAL CORPORATION PLC
AEC.N0000
ACL PLASTICS PLC
APLA.N0000
SWADESHI INDUSTRIAL WORKS PLC
SWAD.N0000
LANKA ALUMINIUM INDUSTRIES PLC
LALU.N0000
REGNIS(LANKA) PLC
REG.N0000
SINGER INDUSTRIES (CEYLON) PLC
SINI.N0000

Motors
UNITED MOTORS LANKA PLC
UML.N0000
ASSOCIATED MOTORWAYS PLC
AMW.N0000
LANKA ASHOK LEYLAND PLC
ASHO.N0000
COLONIAL MOTORS PLC
COLO.N0000
DIESEL & MOTOR ENGINEERING PLC
DIMO.N0000
THE AUTODROME PLC
AUTO.N0000
SATHOSA MOTORS PLC
SMOT.N0000

Oil Palms
THE GOOD HOPE PLC
GOOD.N0000
THE BUKIT DARAH PLC
BUKI.N0000
SHALIMAR (MALAY) PLC
SHAL.N0000
THE INDO MALAY PLC
INDO.N0000
SELINSING PLC
SELI.N0000

Plantations
MASKELIYA PLANTATIONS PLC
MASK.N0000
MADULSIMA PLANTATIONS PLC
MADU.N0000
BALANGODA PLANTATIONS PLC
BALA.N0000
NAMUNUKULA PLANTATIONS PLC
NAMU.N0000
BOGAWANTALAWA TEA ESTATES PLC
BOPL.N0000
MALWATTE VALLEY PLANTATIONS PLC
MAL.N0000
TALAWAKELLE TEA ESTATES PLC
TPL.N0000
KEGALLE PLANTATIONS PLC
KGAL.N0000
KOTAGALA PLANTATIONS PLC
KOTA.N0000
ELPITIYA PLANTATIONS PLC
ELPL.N0000
UDAPUSSELLAWA PLANTATIONS PLC
UDPL.N0000
HORANA PLANTATIONS PLC
HOPL.N0000
HAPUGASTENNE PLANTATIONS PLC
HAPU.N0000
WATAWALA PLANTATIONS PLC
WATA.N0000
METROPOLITAN RESOURCE HOLDINGS LIMITED
MPRH.N0000
AGALAWATTE PLANTATIONS PLC
AGAL.N0000
KAHAWATTE PLANTATIONS PLC
KAHA.N0000
KELANI VALLEY PLANTATIONS PLC
KVAL.N0000

Power & Energy
LANKA IOC PLC
LIOC.N0000
VALLIBEL POWER ERATHNA PLC
VPEL.N0000
VIDULLANKA PLC
VLL.N0000

Services
JOHN KEELLS PLC
JKL.N0000
PARAGON CEYLON PLC
PARA.N0000
LAKE HOUSE PRINTERS AND PUBLISHERS PLC
LPRT.N0000
MERCANTILE SHIPPING COMPANY PLC
MSL.N0000
CEYLON PRINTERS PLC
CPRT.N0000
KALAMAZOO SYSTEMS PLC
KZOO.N0000

Stores & Supplies
MULLER AND PHIPPS (CEYLON) PLC
MULL.N0000


GESTETNER OF CEYLON LIMITED
GEST.N0000


COLOMBO PHARMACY COMPANY PLC
PHAR.N0000


E B CREASY & COMPANY PLC
EBCR.N0000


HUNTERS & COMPANY LIMITED
HUNT.N0000



Telecommunications
DIALOG TELEKOM PLC.
DIAL.N0000
SRI LANKA TELECOM PLC
SLTL.N0000
Trading
BROWNS AND COMPANY PLC
BRWN.N0000
CEYLON & FOREIGN TRADES PLC
CFT.N0000
RADIANT GEMS INTERNATIONAL PLC
RGEM.N0000
ENVIRONMENTAL RESOURCES INVESTMENT PLC
GREG.N0000
C. W. MACKIE PLC
CWM.N0000
TESS AGRO PLC
TESS.N0000
SINGER SRI LANKA PLC
SINS.N0000
OFFICE EQUIPMENT PLC
OFEQ.N0000
EASTERN MERCHANT PLC
EMER.N0000

Information – Colombo Stock Exchange

Sri Lanka Stocks down

30-01-2009.

All share index ended the day 13.70 points lower at 1821.24 while MPI was down heavily by 47.20 points & closed at 1964.98.

Today’s heavily traded stock Dialog Telekom (11 379 100 shares) closed 50 cents lower at Rs 5.50. JKH & Sri Lanka Telecom was down by Rs. 2.75 & 75 cents respectively to close at Rs 66.00 & 37.50.

Total market turnover for the day was Rs 300.9 million.

Announcements

PROPERTY DEVELOPMENT PLC - DIVIDEND

Company ID:- PDLDate of Announcement:- 30.Jan.2009 Rate of Dividend:- Rs.2.00 per share-First and Final DividendFinancial Year:- 2008 Date to be notified

AMALGAMATION OF CEYLINCO FINANCE PLC & ASIAN FINANCE LTD - Ceylinco Finance PLC

The company informed the following with regard to the above."We refer to the application made by us in respect of the above and your subsequent approval to list the additional shares arising from the share swap of the proposed amalgamation.We wish to inform you that the Central Bank of Sri Lanka has communicated to us by its letter dated 27th January 2009 to obtain the final approval of the Central Bank Sri Lanka prior to the amalgamation and as such it would not be possible to have the effective date of amalgamation on 29th of January 2009.In the above circumstances the new shares to be allotted to the minority shareholders of Asian Finance Ltd would have to be deferred until the new date of amalgamation. This would be notified to the minority shareholders of Asian Finance Ltd as well.We shall revert back to you no sooner we get a confirmation of the new date from the Central Bank of Sri Lanka."

TRADING IN LANKA CEMENT PLC'S SHARES

The company informed that The prospects of opening A9 highway in the near future will facilitate the reconstruction of the North as well as the cement factory at Kankasanthurai. This aspect would have had an effect on the trading of LCEM shares.The company has turned around from a loss making establishment to a profit generating entity after the assumption of the new energetic Chairman in January 2008.

PURCHASE OF REMAINING SHARES OF COMMERCIAL LEASING CO. PLC - Lanka Orix Leasing Co. PLC

At a meeting of the Board of Directors on 28th January 2009, it was noted that the shareholders of Commercial Leasing Co. PLC (CLC) had approved the delisting of CLC at an EGM held on 27th January 2009.Accordingly, the Board of Directors resolved that the company offer to purchase the remaining CLC shares from all remaining CLC shareholders, at Rs. 90/= per share, subject to approval being granted by the Securities and Exchange Commission (SEC) for the delisting of CLC from the Colombo Stock Exchange in terms of the Delisting Rules of the SEC.

CSE daily report – 29-01-2009.

Investors actively bought Lanka Cement & hotel sector stocks. Over 2.3 million Lanka Cement shares traded at price range of Rs 12.25 to 13.00 per share & closed 75 cents higher at Rs 13.00.

ASI gained 22.73 points & closed the day at 1834.94 while MPI was up by 2.10 points to end at 2012.18.

Turnover was Rs 170.2 million.

There were Rs 13.7 million foreign purchases & 24.5 million foreign sales during the day.
Hotel sector interest was mainly due to expectation of more tourist arrivals to the country with ending of war with terrorist.

This is the best time for long to medium term investors to start buying before market get too hot.

Financial Statements released.

John Keels Holdings interim financial statement for the nine months ended 31st December 2008.


Dividend Announcement

COMMERCIAL BANK OF CEYLON PLC - Dividend Dates
Company ID: - COMB Date of Announcement: - 26.Jan.2009 Rate of Dividend: - Rs.4.00 per share-Final Dividend (Voting and Nonvoting) Financial Year: - 2008 XD: - 31.Mar. 2009 Payment: - 06.Apr.2009 Share Transfer Book Open

Colombo Stock Market Report – 28-01-2009.

Market indices moved two different directions. ASI closed 11.22 points higher at 1812.21 while MPI ended the day 5.34 points lower at 2010.08.

Turnover was Rs 96.1 million. Lanka Cement & Nawaloka Hospital shares traded heavily.
Lanka Cement (2,210,400 shares) closed Rs 2.00 higher at Rs 12.25 while Nawaloka hospital (782,200 shares) closed 10 cents higher at Rs 2.10.

Elpitya Plantation PLC gained Rs 10.50 & ended the day at Rs 60.00 indicating strong demand for plantation stocks due to increasing tea prices at Colombo tea auction.

Announcements

KEELLS FOOD PRODUCTS PLC - Rights Issue Dates

Proportion: - 7 (Seven) for 10 (Ten)EGM/ Provisional Allotment:- 19-02-2009 XR:- 20-02-2009Dispatch of Provisional Letter of Allotment:- 27-02-2009Splitting :- 06-03-2009Renunciation:- 16-03-2009Rights Trading Commences on:- 05-03-2009Subject to Shareholder approval at a General Meeting.

JOHN KEELLS HOLDINGS PLC - DIVIDEND DATES

Company ID: - JKH Date of Announcement:- 28.Jan.2009 Rate of Dividend:- Rs.1.00 per share-Second Interim Dividend Financial Year:- 2008/2009 XD:- 10.Feb. 2009 Payment:- 20.Feb.2009 Share Transfer Book Open

Colombo Stocks down.

27-01-2009.

All share Index fell 17.07 & Milanka index down by 7.53 points.

ASI 1800.99
MPI 2015.42

Turnover was Rs. 102.6 million. Sri Lanka Telecom closed the day 75 cents lower at Rs 36.25.
There were 26 gainers & 100 losers.
Market fell mainly due to profit taking by investors from gains made by last few days.

Announcements

INTERIM FINANCIAL STATEMENTS 30TH SEPTEMBER 2008 - GALADARI HOTELS (LANKA) PLC

The company informed that at the Board Meeting held on 19th January 2009, the Board was of the view that with the implementation of the restructuring plan including the conversion of the part of the loan into equity, the net asset value of the company will increase.The Board has already approved the conversion into equity of the Government Loan amounting to Rs. 534,205,430 and part of the Loan due to Galadari Brothers Company LLC amounting to Rs. 1,237,530,440.Accordingly the Board was of the view that the implications of the provisions of section 220 of the Companies Act No. 7 of 2007 would not affect the company.

LANKA ORIX LEASING CO. PLC

Newspaper Article on Seylan BankThe company informed that the LOLC group has not expressed interest in purchasing Mr. Kotelawala's shareholding in Seylan Bank PLC.

SAMPATH BANK PLC

The company confirmed that no Senior Sampath Bank officials as referred to in the article captioned "Sampath, LOLC keen on Seylan Bank" in the Financial Times of the Sunday Times paper of 25th January 2009 has made any such confirmation to the Press with regard to any expression of interest pertaining to Seylan Bank.

Sri Lanka Stocks Up!

ASI was up 56.25 points (3.19%) to 1818.06 while MPI was up by 93.20 (4.83%) & ended the day at 2022.95.

Retail investors were actively on buying side with hope of early ending the war with terror.
Turnover was healthy at Rs 278.6 million.

There were 130 gainers & only 12 losers. Dialog Telekom gained 50 cents & closed at Rs 5.75. John Keels Holdings contributed Rs 75.5 million to the day’s total turnover by trading 1,077,600 shares. JKH closed 75 cents higher at Rs 70.50.

Dividend Announcements

LANKEM CEYLON PLC - DIVIDEND

Company ID:- LCEYDate of Announcement:- 26.Jan.2009Rate of Dividend:- Rs.1.80 per share-First & Final Dividend Financial Year:- 2007/2008Date to be notified

COMMERCIAL BANK OF CEYLON PLC - DIVIDEND

Company ID: - COMBDate of Announcement: - 26.Jan.2009Rate of Dividend: - Rs.4.00 per share-Final Dividend (Voting and Non-voting) Financial Year: - 2008Date to be notified

Sampath, LOLC keen on Seylan Bank

By Duruthu Edirimuni Chandrasekera

Sampath Bank together with a consortium of investors, and businessman Ishara Nanayakkara-led LOLC, have expressed interest in Ceylinco Chairman Lalith Kotelawala's 23% controlling stake in Seylan Bank, Seylan sources said.

"He has nearly 23% at Seylan, but all of about 48% is controlled by him. But he cannot sell the balance of 25%, because this holding is in the employees’ share trust," a Seylan source told The Sunday Times FT. A senior Sampath official confirmed that the bank has sent an Expression of Interest (EOI) to Seylan Bank.

He said Mr. Kotelawala is offering his 23% at Rs. 10 billion, but this price is way too high. "This is what is deterring Sampath from making a firm commitment," he added. Mr. Nanayakkara, through his LOLC group has also expressed interest to purchase these shares, but for him too the price seems too high, the Seylan source further said. Late last year, Mr. Kotelawala announced that he planned to sell his shares at Seylan to settle depositors at the crisis hit Golden Key Credit Card Co, which faced a run last December. The exposure at this credit card company is believed to be Rs. 26 billion.

Soon after the Golden Key crisis and fearing a run on Seylan Bank, which is part of the Ceylinco Group, the Central Bank took over management and handed itto the Bank of Ceylon. A new board of directors headed by Eastman Narangoda is now installed at Seylan and has assured depositors, stakeholders and the public that the bank is ‘sound and safe’.
The Seylan source said a Dubai investor who was interested when Mr. Kotelawala announced his desire to dispose these shares has now backed out. Senior Seylan officials were unavailable for further confirmation on the status of Mr Kotelawala’s shares.

Seylan Bank is a calendar year (accounting) company and its annual accounts and annual general meeting was last held on June 30, 2008. The 2007 accounts was sent to shareholders in June, according to the Bank’s annual 2007 report.

Seylan’s 10 largest shareholders are Dr. T. Senthilverl (5%), Dollar Distribution (Pvt) Ltd (5 %), Seyfast (Pvt) Ltd (5%), Seyshop (Pvt) Ltd (5%), Seybest (Pvt) Ltd (5%), Sesot (Pvt) Ltd (5%), Esots (Pvt) Ltd (4.96 %), Ceylinco Financial PLC (4.91), Ceylinco Insurance PLC (4.03%) and Ceylinco Ltd (3.86%). Though Mr Kotelawala figures down the list with just a 1.22% stake, his combined control extends to over 20%.
source Sunday Times

Colombo Stock Market Report – 23-01-2009.

ASI closed 11.67 points higher at 1761.81 & MPI closed the day 10.21 points higher at 1929.75.
Turnover was RS 92.6 million.

Seylan Bank shares received good investor attention today & closed Rs 8.00 higher at Rs 42.75.
Sri Lanka Telecom closed one rupee higher at Rs 37.00.

Announcements

ARPICO FINANCE COMPANY PLC - Rights Issue Dates

Proportion: 10 (Ten) for 7 (Seven)Date of Announcement: 23.Jan.2009EGM/ Provisional Allotment:- 13-02-2009 XR :- 16-02-2009Dispatch of Provisional Letter of Allotment:- 20-02-2009Splitting :- 06-03-2009Renunciation:- 13-03-2009Rights Trading Commences on:- 27-02-2009

The company has made a further announcement regarding a press publication. - TOKYO CEMENT CO. (LANKA) PLC

At the Court of Appeal hearing on 20th January 2009, in the matter of an application for mandates in the nature of Writs of Certiorari, Prohibition and Mandamus in terms of Article 140 of the Constitution, settlement was reached with the Customs as under:Sri Lanka Customs agrees and undertakes not to take any steps to recover Value Added Tax (Rs. 146.7 million) or to inquire into and determine any issue in the Customs Inquiry in order to or for the purpose of recovering VAT and will limit the said inquiry to the alleged under valuation.The company agrees to co-operate with the Sri Lanka Customs and its officers pertaining to the subject matter of the inquiry to the alleged under valuation.The amount pending to be investigated by the Sri Lanka Customs revolves around Rs. 45.9 million. The company is of the opinion that amount claimed by the Department of Customs is much against the express provisions of the Customs law.

JOHN KEELLS HOLDINGS PLC - DIVIDEND

Company ID:- JKHDate of Announcement:- 23.Jan.2009Rate of Dividend:- Rs.1.00 per share-second Interim Dividend Financial Year:- 2008/2009Date to be notified

Colombo Market recovered

22-01-2009.

All share index was up by 30.01 points to close at 1750.14 while more liquid Milanka index also gained by49.20 points & ended at 1919.54.

Turnover was Rs 64.2 million. Dialog Telekom (closed Rs 5.25) & Sri Lanka Telecom (closed Rs 35.50) was up by 25 cents & 50 cents respectively.

Asiri Surgical Hospital was the heavily traded stock with 551000 shares traded at price range of Rs 6.50 to 7.00.

Although December quarter results are starting to release by listed companies analysts are not expecting good results. But longer terms Sri lanka will be a better place to invest for higher returns.

Market falls on heavy selling pressure.

21-01-2009.

Colombo All share & Milanka index fell 90.14 points & 138.51 points (6.89%) respectively.
ASI closed 1720.13.
MPI closed 1870.34.

The biggest contributor for today’s decline was Dialog Telkom which was down by 13.04% (75 cents) & closed at Rs 5.00.

The turnover was Rs 202.2 million.
There were 145 losers & only 9 gainers.

Announcements

KEELLS FOOD PRODUCTS PLC - RIGHTS ISSUE

Company ID :- KFPDate of Announcement:- 21.Jan.2009 Proportion :- Seven (07) for every Ten (10) ordinary shares Issue Price:- Rs. 50.00No of Shares to be issued:- 3,500,000Current Stated Capital:- Rs. 99,815,000.00The Rights Issue is subject to the CSE approving, in principle, the issue and listing of shares and obtaining of shareholder approval at a General Meeting.

CAPITAL REACH LEASING LIMITED (THE COMPANY) - OFFER FOR SALE

The ordinary shares of the above company would be listed on 22nd January 2009 and would be classified under the Banks, Finance and Insurance sector. These ordinary shares would be listed on the Second Board.The assigned security code is CRL - N - 0000. A total number of 20,064,617 ordinary shares of the company would be listed.Deposits would be accepted by the Central Depository System (Pvt) Ltd, (CDS) with immediate effect.

Rally continues at Colombo Stock Market!

20-01-2009

All share index gained 69.86 points to end at 1810.27 while more sensitive Milanka shot up by 89.33 points to close at 2008.85.

Turnover was Rupees 245.1 million.

There were 109 gainers & only 31 losers reflecting positive trend of the market.

Over five million shares of Seylan Bank nonvoting traded at price range of Rs 6.25 – 6.75 & closed at Rs 6.75. Dialog Telekom recorded 5o cents gain & closed at Rs 5.75.

John Keels Holdings was up by another one Rupee & closed at Rs 72.00 while Srilanka Telecom went up by Rs 2.00 & closed the day at Rs 36.50.

Local retail investors are actively buying shares with the hope of early end of the War on terror.

Announcements

CAPITAL REACH LEASING LIMITED (THE COMPANY) - OFFER FOR SALE

The ordinary shares of the above company would be listed on 22nd January 2009 and would be classified under the Banks, Finance and Insurance sector. These ordinary shares would be listed on the Second Board.The assigned security code is CRL - N - 0000. A total number of 20,064,617 ordinary shares of the company would be listed.Deposits would be accepted by the Central Depository System (Pvt) Ltd, (CDS) with immediate effect.

ARPICO FINANCE COMPANY PLC RIGHTS ISSUE - AMENDMENT

Company ID:- ARPIDate of Announcement:- 20.Jan.2009 Proportion:- 10 (Ten) for 7 (Seven) (10 New shares for every 7 shares held as at the date of allotment)Issue Price:- Rs. 25.00No of Shares to be issued:- 2,625,000Current Stated Capital:- Rs.30, 687,500Purpose:- To meet the Core Capital requirement

Bull Run at Colombo Stock Exchange

19th January 2009.

Both All share & Milanka indices gained 90.46 points (5.48%) & 147.87 (8.35%) respectively. ASI closed at 1740.41 & MPI closed at 1919.52.

Turnover was also healthy at Rs 263.9 million. Today’s heavily traded stock was Seylan Bank (Non Voting) with over four million shares traded. Seylan Bank (N/V) closed 25 cents higher at Rs 6.25.

Another significant transaction was John Keels Holdings which was closed at 5.50 (8.40%) higher at Rs 70.75. Over 1.1 million shares of JKH traded during the day contributing Rs 84.16 million to the total market turnover.

International investors should give their attention to Colombo Stock Market as it is performing better than other Stock markets Worldwide.

Announcements

COMMERCIAL BANK OF CEYLON PLC - NEWSPAPER ARTICLE

The company forwarded the following statement with regard to the above."Peoples Bank obtained from the Colombo Commercial High Court an Enjoining Order on the 29th December 2008 restraining Commercial Bank of Ceylon PLC from appropriating and/or setting off the sum of USD 15 Million deposit of People's Bank which it holds.Subject to the final determination by Court, Commercial Bank will hold the said deposit in connection with People's Bank obligations under a WTI Crude Oil Hedging Contract which expires on the 31st August 2009. People's Bank has failed to honour its November and December payment for 2008 amounting to USD 3,925,850/=. If People's Bank continues to fail to make payments under this Contract and if the WTI Crude Oil price remains at the present level of USD 35 per barrel, our additional credit exposure would be approximately USD 21,600,000/= for the balance period of the Contract. If set off is permitted by the Court, the balance counterparty credit exposure by People's Bank will be USD 10,525,850/= (Rs. 1,199,946,900/= at an exchange rate of Rs. 114/=).Commercial bank has obtained all required legal documentation to support this Contract and will take necessary action to safeguard the interest of the Bank and vigorously defend the action taken by People's Bank."

Upward trend continues at CSE.

16th January 2009.

Colombo Stock Market was managed to sustain yesterday’s gains with Rs. 5.75 gain in John Keels Holdings. JKH closed at Rs.66.00.

All Share index gained 21.08 points & closed at 1649.95 while Milanka index ended the day 34.18 points higher at 1771.65.

Over 1.1 million shares of Dialog Telekom traded today at price range of Rs. 5.00 – 5.50 but closed 25 cents lower at Rs 5.00.

Today’s top gainer was J.L. Morison Sons & Jones which was up Rs. 110.00 & closed at Rs 350.00.

Announcements

ENVIRONMENTAL RESOURCES INVESTMENTS PLC - Right Issue Dates

Company ID:- GREGDate of Announcement:- 16.Jan.2009Proportion:- One (1) for One (1)Issue Price:- Rs.20.00Date EX:- 12.Feb.2009Qty Offered:- 17,386,080EGM/ Provisional Allotment:- 11-Feb-2009 Dispatch of Provisional Letter of Allotment:- 18-Feb-2009Splitting:- 02-Mar-2009Renunciation:- 05-Mar-2009Rights Trading Commences on :- 25-Feb-2009

Good Day at Colombo Stock Exchange

15th January 2009.

The All Share price index rose 52.62 points (3.34%) to end at 1628.87 while more sensitive Milanka index rose 81.76 (4.94%) & closed at 1737.47.

Price gains in Dialog Telekom, John Keels Holdings & Distilleries Company of Sri Lanka helped indices to record massive gain.

Turnover was Rupees 118 million. Almost all the plantation companies recorded gains.
Tess Agro (891,200), Nawaloka Hospitals (852,800) & Madulsima Plantations (763,900) were among the heavily traded stocks.

With declining trend in interest rate, Stock Market could attract more fresh funds.

Announcements

Delisting of Associated Motorways PLC from the official list of the Colombo Stock Exchange (CSE)

The company informed the CSE that Securities and Exchange Commission of Sri Lanka (SEC) in terms of Rule 5(6) of the Delisting Rules of the SEC, has granted approval to delist the shares of Associated Motorways PLC.

Miramar Beach Hotels Ltd - News Paper Article

The company informed that "With regard to the resolution of Peoples Bank published on 10th November 2008, in the Daily News, Company has filed a writ application bearing No. CA 974/2008, in the Court of Appeal to quash the decision taken by the Board of Directors of Peoples Bank to sell our property under the said resolution and prevent the Peoples Bank from proceeding further on the said resolution. A true copy of the petition in the said case is annexed hereto marked A."

NAME CHANGE OF DFCC STOCKBROKERS (PVT) LTD

Please note that DFCC Stockbrokers (Pvt) Ltd will henceforth be known as, ACUITY STOCKBROKERS (PVT) LTD. The Name Change is to reflect the brand name of the parent company, Acuity Partners (Pvt) Ltd, which is a joint Venture owned by DFCC Bank & Hatton National Bank.

Colombo Stock Market Up!

13th January 2009.

Today All Share index gained 42.46 points & closed at 1576.25. Milanka index also ended higher at 1655.71 (up by 48.93 points).

Turnover was Rupees 134.6 million. Foreign investors sold more stocks with net outflow of Rs 28 million.

Heavy trading reported in Lanka Cement shares & it was closed 50 cents higher at Rs 9.50.
John Keels Holdings, Sri Lanka Telecom & Dialog Telekom contributed positively for indices.

LB Finance 9 months profit up by 101%

LB Finance released their financial statement for the nine months ended 31st Dec 2008. Net profit rose to Rs 241.5 million from Rs 120.2 million.

Company’s net asset value per share is Rs.35.49 & last traded price was Rs. 18.00.

Click here to download full financial statement.

Colombo Stock Exchange Market Report

12-01-2009

Sri Lanka’s fifth cellular operator Airtel launched their service today with simple and competitive tariff structure. They charge Rs 2.00 per minute to any network including to their own network.

The listed market leader Dialog shares fell 12.73% or 70 cents & closed at Rs 4.70.
Market started positive but came down with Dialog drop. However All Share index closed marginally higher at 1533.79 (+1.54 points) while Milanka index closed the day 28.57 points lower at 1606.78.

Turnover was Rs 45.4 million.

Announcements

BROWN AND COMPANY PLC

Brown and Company PLC entered into an agreement with Environment Resources Investment PLC to purchase Walker & Greig (Pvt) Ltd (including all business dealings, assets and liabilities) a Company owned by Environment Resources Investment PLC.

ACL CABLES

The Board of Directors of ACL Cables PLC wishes to keep its shareholders and investors informed that it anticipates a significant decline in the company's profitability following exposure from Hedging-contracts entered into by the company. Although these contracts, which are entered into by the company as a part of its routine business risk management operations for stabilizing prices of its base raw material, copper, have resulted in "hedging-gains" in the past, the steep and unexpected decline in Global copper prices at the London Metal Exchange over the past few months has resulted in the significant financial exposures to the company. An exact overall quantification of the exposure is not possible since it would depend on fluctuations of the Global copper prices over the next few months.

ENVIRONMENT RESOURCES INVESTMENT PLC

Environment Resources Investment PLC has entered into an agreement with Brown & Company PLC to sell "Walker & Greig (Pvt) Ltd" which company was incorporated on 31st October 2008 and owned by Environment Resources Investment PLC.The company further informed that all business dealings, assets and liabilities of Environment Resources Investment PLC have been transferred to Walker & Greig (Pvt) Ltd and the sale was concluded on 8th January 2009.

Why should you bullish on Colombo Stock Exchange?

Over three decade long separatist war is going to end in near future. With the capture of A9 road & Elephant pass on 9th January 2009 land route can be opened to Jaffna.

Sri Lanka is ready to record significantly higher GDP growth compared to other developing countries. Reason is contribution of agricultural produces from Eastern province & expected increased economic activities with opening up A9 road.

Six months ago country’s inflation was around 28%, now it has fallen to 14.4% in December 2008. According to forecast of Central Bank within 2009 inflation will record single digit figure.

Now look at the Colombo Market. Most of companies are trading at below their book value. Indices have fallen to historically low levels. Within year 2008 market dropped nearly 40%. Now think, in near future Colombo market will turn to positive & perform better than other regional stock markets or even developed once.

It is time to analyze individual stocks & select that performed well in pervious bull runs. Do not forget to consider current financial positions of selected companies as you can’t depend only on past performance.

Good luck!

Stock Market Today – 09-01-2009

Colombo Stock Market recorded another day of low activity. Both All share / Milanka indices fell 10.15 points & 13.13 points respectively. All share closed at 1532.25 while Milanka ended the day at 1635.35.

Turnover was very low at Rs 18.4 million.

Dialog Telecom declined by another 25 cents & closed at Rs. 5.50.
Investors are on wait & see attitude due to current economical & political situation prevailing in the country.

Colombo Stock Exchange Announcements

SEYLAN BANK PLC - NEWS PAPER ARTICLE

According to the web article hosted on the Lanka Business Online regarding the clarify the Bank's position, The Company confirm that there had been some interest expressed by potential buyers regarding the Ceylinco Group's stake in Seylan Bank PLC.However, Company confirms that no details of any firm offers have been communicated to the Bank to date.

CEYLON TEA SERVICES PLC DIVIDEND

Company ID: - CTEADate of Announcement:- 09.Jan.2009Rate of Dividend:- Rs.25.00 per share-Interim Dividend Financial Year:- 2008/2009XD:- 15.Jan.2009 Payment:- 27.Jan.2009 Share Transfer Book Open

Colombo Stock Exchange – Trading Activity

8th January 2009.

Market ended lower today as all share index fell 7.76 pints & closed at 1542.40. Milanka index declined by 24.46 points & ended the day at 1648.48.

Turnover was almost Rupees 93 million supported by Rs 20 million from JKH transaction.
Foreigners purchased more than what they sold with net inflow of Rs.10 million.

Investor interest also noticed in Seylan Bank shares due to possible takeover. 50100 shares of seylan bank traded during the day within the price range of Rs 30.50 to 32.50 & closed Rs 1.50 higher at Rs. 30.75.

Dialog Telekom fell 25 cents & closed at Rs 5.75.

Announcements

UNION CHEMICALS LANKA PLC - DIVIDEND

Company ID:- UCARDate of Announcement:- 08.Jan.2009Rate of Dividend:- Rs.5.00 per share-First Interim Dividend Financial Year:- 2008XD:- 12.Jan.2009 Payment:- 16.Jan.2009 Share Transfer Book Open

Colombo Stock Market Report

7th January 2009.

All share index closed virtually unchanged at 1550.07 (+0.60) & Milanka indexed closed the day 18.59 points higher at 1672.94.
Turnover was only Rupees 46.8 million. Foreign activity was very low with net inflow of Rupees 4.1 million.
Vallibel Power (810,700 Shares) & Lanka Cements (289,600 shares) were the most actively traded stocks.

Today’s Announcements

TRADING IN LANKA CEMENT SHARES

The Company has made the below announcement with regard to the sudden increase in the volume and price of LCEM shares."Lanka Cement PLC has recommended trading in cement after a lapse of 2 years. At Present Company is importing regular shipments of cement from Pakistan and its brand "Lanka Cement" is available in the market at competitive prices.Further Company have chartered a vessel to transport cement to the Jaffna District and cement is available to consumers at approved prices.Due to the revival of trading operations in Colombo and Jaffna, which Company believes, has contributed to the sudden increase of LCEM shares."

Stock Market Report – 06-01-2009

Colombo all share index closed 11.5 points lower at 1549.47 & milanka index closed 13.93 points lower at 1654.35.

Turnover was Rs. 53 million. Finlays Colombo was the highest gainer of the day with Rs 28.00 gain. Stock closed at Rs.160.00 while Renuka City Hotel closed Rs 15.00 lower at Rs.60.00.
Foreigners purchased Rs 15.5 million worth of shares & sold only Rs 0.3 million.

Announcements
SEYLAN BANK PLC - Article of News paper

The Company informed that regarding the article appearing in page B1 of Financial Time of Daily Mirror of date under the heading "Ceylinco Fast Cash Service suspended?"In this context, Company wish to mention that there had not been any misappropriation of funds. Further the Ceylinco fast Cash Service is now in operation.

ENVIRONMENT RESOURCES INVESTMENT PLC - RIGHTS ISSUE

Company ID :- GREGProportion:- 01(One)for 01(One) Issue Price:- Rs.20.00The number of shares to be issued: 17,386,080Current Stated Capital: Rs.35,113,000Purpose of issue:- for the purpose of raising capital for various investment opportunities that meet with the company's objectives and risk control thresholds

Colombo Stock Market Activity Report

5th January 2009.
Market opened positively but ended with red due to profit taking on last week gains. ASI declined 17.49 points & ended at 1560.97 while Milanka index closed 28.53 points lower at 1668.28.

Turnover was Rupees 139.2 million. Ceylinco Insurance contributed Rs59.1to the total market turnover by trading 338200 shares at Rs.170 – 175. While Ceylinco Insurance (Non Voting) was the today’s highest looser with Rs 48.00 price decline. It was closed at Rs.94.25.

Market will fluctuate within narrow range until larger funds start buying as there is no major reason to decline further.

Announcements

CEYLINCO SEYLAN DEVELOPMENTS PLC - Resignation of Director
In terms of Section 9.1(iv) 6 of the Colombo Stock Exchange, Company informs that Lady Dr. S P C Kotelawala has resigned from the Board of Directors of Ceylinco Seylan Developments PLC with effect from 2nd January 2009.

CEYLINCO FINANCE PLC - "Bail out Package"
The Company has informed that Ceylinco Finance PLC as a Registered Leasing Company had a routine meeting with the Officials of the Central Bank of Sri Lanka on 29th December 2008 and no meeting was held for the above Company in connection with the "bail out package".

SLT seeks Rs.44 bln revenue this year

By Bandula Sirimanna

Sri Lanka Telecom (SLT) is targeting a revenue of Rs.44 billion for 2009, up from Rs 35 billion last year, despite anticipated adverse market conditions in the island.

A new business plan has been devised to achieve this revenue target transforming the institute to a complete market oriented organisation, some 1,000 SLT executives were told at a recent conference at the Waters Edge at Battaramulla to announce the current year’s business programme, officials who were present, said.
Full Story

Colombo Stock Market Started New Year Trading on Bullish Trend!!!

Market opened higher today with the news of capturing terrorist stronghold Kilinochchi by SL government forces.

All share index went up by 75.44 points (5.02%) & closed at 1578.46 while more sensitive Milanka index gained 65.47 points (4.01%) & closed at 1696.81.

Rupees 2.75 gain in Sri Lanka Telecom PLC (SLT) helped indices to massive gain. SLT closed at Rs 34.25. There were 148 positive contributors & only 13 companies reported negative price movements.

Seylan Bank gained further Rs 3.25 & closed at Rs.31.50. Turnover was Rupees 109.4 million.

Announcements

CEYLON TOBACCO COMPANY PLC - DIVIDEND

Company ID: - CTCDate of Announcement:- 02.Jan.2009Rate of Dividend:- Rs.4.80 per share(Less WHT)- 4th Interim Dividend Financial Year:- 2008XD:- 13.Jan.2009Payment:- 26.Jan.2009 Share Transfer Book Open