Colombo Stock Market Report –Friday 31st March 2009

31st March is the last day of financial year in most companies. ASI lost 6.53 points to close at 1638.06 while MPI closed 17.55 points lower at 1736.20.

Turnover was 79.5 million rupees. Ceylinco Insurance (Non Voting) & Eagle Insurance lost Rs 9.75 & s 8.25 respectively.

National Development Bank closed Rs 8.00 lower at 89 rupees. John Keells Holdings lost Rs 1.75 to close at 62.75.

Announcements - Colombo Stock Exchange.

31-Mar-2009 SUB - DIVISION OF SHARES - HOTEL SERVICES (CEYLON) PLC

The Company has informed the CSE that the Board of Directors of Hotel Services (Ceylon) PLC have resolved to effect an increase of the number of shares by way of a sub-division by passing the following resolution."That each of the shares of the Company be sub-divided into ten (10) ordinary shares. The shares will rank equal and pari passu in all respects with the existing shares of Hotel Services (Ceylon) PLC with full voting rights and the right to participate in any dividend that may be declared after the date of the sub division.The increase of shares by way of a sub-division is subject to shareholder approval at an Extraordinary General Meeting by way of ordinary resolution.The total number of shares in issue is 17,600,000. The number of shares of the company in issue at the conclusion of the sub-division will amount to 176,000,000 ordinary shares. This sub division will not result in an increase in the Stated Capital of the Company".SUB DIVISION OF SHARE DATESDate of General Meeting : 30-04-2009Sub Division based on the shareholding as at end of Trading: 30-04-2009Period of Dealings Suspension (Both days inclusive) : 04-05-2009 to 07-05-2009 Date of Commencement of Trading: 11-05-2009Subject to Shareholder approval at a General Meeting.

31-Mar-2009 DIVIDEND ANNOUNCEMENTS

JOHN KEELLS PLCCompany ID:- JKLDate of Announcement:- 31.Mar.2009Rate of Dividend:- Rs.5.00 per share - Interim Dividend Financial Year:- 2008/2009XD:- 08. Apr. 2009 Payment:- 24.Apr.2009 Share Transfer Book OpenASIAN HOTELS & PROPERTIES PLCCompany ID:- AHPLDate of Announcement:- 31.Mar.2009Rate of Dividend:- Rs.1.00 per share - Interim Dividend Financial Year:- 2008/2009XD:- 08. Apr.2009 Payment:- 24. Apr.2009 Share Transfer Book Open

31-Mar-2009 ANNUAL REPORTS OF LISTED COMPANIES.

The following Companies have released their Annual Financial Reports for the year ended 31st March/31st December 2008 to the CSE.Released to the Market on 31-03-2009 - COMDReleased to the Market:- DFCC, AGAL,ATL, LCEY, SAMP, AAIC COLO, HAPU, RGEM, PDL, EBCR, CTC, HNB, NDB, NTB, OSEA, CTCE, TPL, KVAL,SINI, SINS, REG, DOCK, SLTL, UAR, UDPL,JFIN, COMB and MBSL

31-Mar-2009 AMENDED DIVIDEND DATES - Commercial Bank of Ceylon PLC

Company ID:- COMBDate of Announcement:- 29.Jan.2009Rate of Dividend:- Rs.4.00per share - Final Dividend(Voting & Nonvoting) Financial Year:- 2008AGM:- 06.Apr.2009XD:- 07.Apr. 2009 Payment:- 17.Apr.2009 Share Transfer Book Open

Marginal decline at Colombo Stock Exchange

Both ASI & MPI fell 0.23% to close at 1644.59 & 1753.75 respectively. However turnover was healthy at Rs 283.75 million.

Srilanka Telecom & Colombo Dockyard experienced price decline as they goes ex dividend today. Colombo Dockyard closed Rs 7.75 lower at Rs 58.75 while Srilanka Telecom ended the day 75 cents lower at Rs 33.00.

Over 3.3 million Light House Hotel shares traded within price range of Rs 52.25 to 58.00 making it biggest transaction of the day by contributing Rs 203.3 million.

Announcements at Colombo Stock Exchange

30-Mar-2009 COMMERCIAL BANK OF CEYLON PLC

The company wishes to inform the CSE that they were unable to hold the Annual General Meeting today, due to lack of a quorum, as specified in the Articles of Association of the Company.

27-Mar-2009 FITCH RATING REPORT - THE FINANCE COMPANY PLC

The detail Fitch rating report is available on the company profile (key Financials) section.

27-Mar-2009 NOTIFICATION UNDER SECTION 8.2 OF THE LISTING RULES OF COLOMBO STOCK EXCHANGE - COLOMBO DOCKYARD PLC

The company confirms that " the below given resolution was unanimously passed by the shareholders of Colombo Dockyard PLC at the 26th Annual General Meeting of the Company held today, 27th March 2009 as a Special Resolution"."IT IS HEREBY RESOLVED in terms of section 185(1)(a) read together with section 185(2)(c) of the Companies Act No. 7 of 2007 that the Board of Directors are empowered to, effect from the conclusion of the 26th Annual General Meeting of the company until the conclusion of the 27th Annual General Meeting of the company to incur obligations or liabilities of such further sums not exceeding one hundred per centum (100%) of the value of the assets of the company, as they consider necessary for the purpose of the company as set out in the Report of the Directors' in page 58 of the Annual Report 2008, which has or likely to have the effect of the company incurring obligations or liabilities that may amount to a Major Transaction."

Colombo Stock Market Report

27th March 2009

The All share Index gained 11.48 points to end at 1648.44 while the more sensitive Milanka went up by 23.28 points to close at 1757.74.

Total equity turnover was 186.2 million rupees.

John Keells Holdings closed the day at Rs 64.50, up by Rs 2.25 from yesterday’s close. Seylan Bank closed five rupees higher at RS 37.00.

CSE Announcements

27-Mar-2009 BROWN & COMPANY PLC

The company has informed the CSE that Browns Plantation Investments (Pvt) Limited which is a joint venture company between Brown & Company PLC and Taprobane Holdings Ltd acquired 50% Ordinary voting shares in Free Lanka Plantation Holdings (Pvt) Ltd.Free Lanka Plantation Holdings (Pvt) Ltd is the ultimate holding company of Pussellawa Plantations Ltd and Maturata Plantations Ltd.

27-Mar-2009 DEFAULT BOARD NARRATION CHANGE - Asia Capital PLC

Submission of Financial Statements for the quarter ended 31-Dec-2008.

Rs 743.5 Million net foreign purchases at Colombo Stock Exchange!

Today’s total market turnover was Rs 915.1 million. Two indices ended the day almost unchanged.

Carson Group companies were the main contributors for the market turnover. Over 1.9 million Selinsing shares traded at Rs 120.00 per share & 2,130 949 of Good Hope plc shares traded at Rs 135.00 per share.

The Light House Hotel gained Rs 5.00 and closed at Rs50.00. Aitken Spence Plc lost ten rupees and ended the day at Rs 315.00.

CSE Announcements

26-Mar-2009 ACE POWER GENERATION MATARA PLC - DE-LISTING

Please note that the above company has been de-listed pursuant to the maturity of its debentures with effect from March 26, 2009.

26-Mar-2009 DE LISTING - Associated Property Development PLC

The Company has informed the CSE, " That at the Board Meeting held today (25-03-2009). it was unanimously resolved by the Board to:proceed to de-list the Securities of the Company from the Official List of Colombo Stock Exchange in terms of the Rules made by the Securities and Exchange Commission of Sri Lanka under Section 53 of the Securities & Exchange Commission of Sri Lanka Act No 36 of 1987 (as amended) by Gazzette Extraordinary No 1215/2 of 18th December 2001"

26-Mar-2009 DISCLOSURE UNDER RULE 36 OF THE COMPANY TAKEOVERS AND MERGERS CODE 1995 (AS AMENDED IN 2003)

Asia Securities(Pvt)Ltd wishes to inform the CSE that our client M/s. Pershing LLC S/A Auerbach Grayson & Co.Ltd presently owns holding of 11.8% (3,541,100 shares) in Lanka Milk Foods (CWE) Limited

26-Mar-2009 ANNOUNCEMENT - AS PER SECTION 9.1(IV) 7 OF THE LISTING RULES OF THE COLOMBO STOCK EXCHANGE

GOOD HOPE PLC2,129,349 shares which amounts to 30.99% of the voting rights of the company were purchased by Goodhope Asia Holdings Ltd, a fully owned subsidiary of the Carson Cumberbatch PLC and incorporated in Singapore, from Rubber Investment Trust Limited (seller).With the above transaction the total amount of shares held by Goodhope Asia Holdings Ltd in the Company is 5,996,018 (87.26%).INDO-MALAY PLC1,666,722 shares which amounts to 23.82% of the voting rights of the company were purchased by Goodhope Asia Holdings Ltd, a fully owned subsidiary of the Carson Cumberbatch PLC and incorporated in Singapore, from Rubber Investment Trust Limited (seller).With the above transaction the total amount of shares held by Goodhope Asia Holdings Ltd in the Company is 5,373,320 (76.78%).SELINSING PLC1,976,400 shares which amounts to 28.48% of the voting rights of the company were purchased by Goodhope Asia Holdings Ltd, a fully owned subsidiary of the Carson Cumberbatch PLC and incorporated in Singapore, from Rubber Investment Trust Limited (seller).With the above transaction the total amount of shares held by Goodhope Asia Holdings Ltd in the Company is 6,008,137 (86.57%).

26-Mar-2009 CHANGE IN THE EXECUTIVE POSITIONS - The Finance Company PLC

This is to inform you that in terms of Section 10(1) of the Finance Companies Act No 78 of 1988 the monetary Board has directed the Company as follows:a)To remove the executive positions of the following Board MembersDesh Dr J L B Kotelawala , Ms M SabaratnamMrs P K Karunanayake , Mr K A S JayatissaMr S R Wijesinghe , Mr Y B RatnayakeMr A R Gunewardena , Mr T N M Peiris The above named persons shall however continue to be on the Board of Directors of the Company.b)The following Key Executive shall be responsible for the executive functions. However Lankaputhra Development Bank headed by Mr. Sarath De Silva - Chairman Lankaputhra Development Bank has been appointed as the Managing agent.Mr K J YatawaraMr T B EkanayakeMrs N C RupasingheMrs V W DissanayakeThe appointment of Lankaputhra Development Bank Ltd as the managing agent is expected to be communicated to the Company by Central Bank of Sri Lanka in due course.

Massive turnover at Colombo Stock Exchange!

Large transaction of JKH shares which was sold by foreign fund to local insurance firm was boosted today’s market turnover to Rs 2.17 billion.

ASI ended the day at 1637.23(up by 11.75 points) & Milanka index closed at 1733.40 (up by 36.69 points).

JKH closed Rs 5.00 higher at 63.50. Aitken Spence gained 10 rupees to close at Rs 325.00. Foreigners sold Rs 1.9 billion worth of shares while purchased only Rs 9.2 million.

Announcements

25-Mar-2009 FINAL DIVIDEND OF RS. 2.13 PER SHARE FOR THE PERIOD 12 MONTHS ENDED 31 DECEMBER 2008. - Ceylon Tobacco Company PLC

The company informed the CSE that the resolution proposing the payment of a Final Dividend was approved by the shareholders unanimously at the AGM held on 25th March 2009. The dividend will be paid on 1st April 2009 as scheduled.

25-Mar-2009 RIGHTS ISSUE - ENVIRONMENTAL RESOURCES INVESTMENTS PLC

Please note that 17,386,080 Ordinary Shares of the company were listed on 25th March 2009, pursuant to a 1:1 Rights issue.

24-Mar-2009 SINGER (SRI LANKA)PLC

The company informed the CSE that as per the Fitch Ratings Report released on 20th March 2009, they have downgraded Singer (Sri Lanka) PLC's (Singer) National Long term rating and the rating on its senior unsecured notes to "A-(lka)" from "A+(lka)". The ratings have been placed on Rating Watch Negative (RWN).Singer (Sri Lanka) PLC wishes to inform that Singer is very confident about meeting its refinancing needs on the short term and that it has already taken necessary measures to strengthen its credit metrics in the coming six months by slashing inventories, reducing unproductive headcount and improving of gross margins and drastically reducing fixed (period) expenses.

Colombo stocks closed higher!

All share index closed 6.10 points higher at 1627.91 while Milanka closed 20.26 points higher at 1692.67. Turnover was Rs 389.5 million mainly due to two large crossings (Negotiated deals outside trading floor) in Nation Trust Bank & Commercial Bank of Ceylon.
Investor interest reported in Vallibel Power & over 4 million shares traded during the day. Vallibel closed 20 cents higher at Rs 3.30.

Announcements

23-Mar-2009 INTERIM FINANCIAL REPORTS OF LISTED COMPANIES.

The following companies have released their Quarterly Financial Statements for the quarter ending 31st December 2008 to the CSE. These reports are available for free download from the relevant Company Profiles on the CSE website.Listed Company ID:-Errata Notice - Quarterly Financial Report of "DIMO" has been released to the Market on 23-03-2009.Released to the market on 11-03-2009 - CFVF, MAL, HUEJReleased to the market on 09-03-2009 - KURU, DIST, CSF & KDLABAN, ACL, ACME, AEC, AHPL, AHUN, ALLI, APDL, APLA, ARPI, ASCO, ASHO, ASIR, ASPH, AUTO, BALA, BBH, BFL, BHR, BINN, BLUE, BOC, BOGA, BOPL, BREW, BRWN, BUKI, CABO, CARE, CARG, CARS, CCS, CDIC, CERA, CFI, CFIN, CFLB, CFT, CHL, CHMX, CHOT, CIC, CIND, CINV, CIT, CLND, CLPL, COCO, COLO, COML, CONN, CPRT, CSD, CTC, CTEA, CTHR, CTLD, CWM, DFCC, DIAL,DIMO, DIPD, DPL, EAST, EBCR, EDEN, EMER, EQIT, ETWO, GEST, GHLL, GOOD, GREG, GUAR, HARI, LCEY, LDEV, HASU, HAYC, HAYL, HDFC, HEXP, HNB, HHL, HOPL, HUNA, HUNT, INDO, JKH, JKL, KAHA, KAPI, KCAB, KFP, KGAL, KHC, KHL, KOTA, KZOO, LALU, LCEY LFIN, LHCL, LHL, LIOC, LION, LITE, LMF, LOLC, LPRT, LVEN, LWL, LWL(AMENDED), MADU, MASK, MGT, MIRA, MORI, MRH, MSL, MULL, NAMU, NDB, NEH, NEST, NHL, OFEQ, ONAL, PALM, PARA, PARQ, PDL, PEG, PHAR, PMB, RCL, REEF, RENU, REXP, RGEM, RHL, RICH, RPBH, SELI, SEMB, SERV, SEYB, SFCL, SHAL, SHAW, SHOT, SIGV, SIL, SING, SLND, SLTL, SMLL, SMOT, SOY, SPEN, STAF, SUGA, SUN, SWAD, TAJ, TANG, TFC, TKYO, TRAN, TSML, TYRE , UAL, UCAR, UML, VLL, WATA and YORK.

20-Mar-2009 UNION ASSURANCE PLC

John Keells Holdings PLC has made the following acquisitions of Union Assurance PLC shares on 20 March 2009.165,500 at Rs.70.00

20-Mar-2009 DOW JONES SAFE 100 INDEX LAUNCHED

Islamabad: In order to promote the South Asian region as a combined investment destination for the global fund managers/investors, South Asian Federation of Exchanges (SAFE) in collaboration with Dow Jones Indexes Inc, New York, has launched first ever Dow Jones SAFE 100 Index comprising prominent companies listed on the major exchanges of the region. The index launching ceremony has been held in the annual general assembly of the SAFE held on March 11, 2009 at Abu Dhabi. Mr. Michael A. Petronella, president, Dow Jones Indexes, said that the South Asia is home to some of the most rapidly evolving financial markets worldwide. By further developing securities markets and aiming at their regional and international integration, the SAFE had been contributing significantly to these developments. The Dow Jones SAFE Indexes will provide market participants with accurate, transparent and reliable performance measures of leading companies in the SAARC region. He said that such indexes were yet another example of Dow Jones Indexes' commitment to index excellence. Mr. Aftab Ahmad Ch. Secretary General SAFE and MD/CEO Islamabad Stock Exchange said that we are very delighted to launch the Dow Jones SAFE 100 index jointly with Dow Jones Indexes, well-known for reliable and world-class indexes. As a representative body of South Asian Exchanges, our effort had been to present the entire region as one investment destination and the launch of the Dow Jones SAFE 100 Index is an effort in the same direction. The index showcases the region as one asset class and can thanks to its superior methodology be used as an underlying tool for investment products on national and international level alike.This index would represent the collective movement, direction and trend of the regional stock markets and would enable global investors to use the same as a benchmark for the performance of their investments in the region. The index would also promote the region as an important asset class in the investment portfolio of the regional and international fund managers. The launch of the initial composite index of the region would also enable the Dow Jones to launch different sub indexes representing various major and performing sectors of the economies of the countries of the region such as banking, insurance, telecommunication, oil and gas sectors etc. In this way, the index would greatly help the investors in co-relating and comparing the performance of the similar sectors within different countries of South Asia. With the launch of this index, global asset management companies would be able to start Exchange Traded Funds (ETFs) based on SAFE-DJ index, besides enabling the regional and other international exchanges to start futures trading based on this index. It would also serve as an underlying tool for developing many other new investment products in the region.The Dow Jones SAFE 100 Index will measure the performance of the 50 largest Indian stocks and the 50 largest stocks trading in Bangladesh, Mauritius, Pakistan and Sri Lanka. Thus, the index includes 3 Bangladeshi, 5 Mauritian, 39 Pakistani and 3 Sri Lankan stocks. It may be mentioned that the SAFE is a forum launched by bourses in South Asia to promote the development of securities markets in the region. It comprises 24 member entities from the eight South Asian countries including Bangladesh, Bhutan, India, Maldives, Mauritius, Nepal, Pakistan and Sri Lanka. The member entities include stock markets, securities & depositories and clearing companies. The permanent Secretariat of the SAFE is situated in Islamabad.

Colombo Stock Market indices up!

Gains in selected stocks helped the indices to sustain upward trend started yesterday. ASI closed 7.21 points higher at 1626.05. MPI closed the day at 1684.97. Turnover was Rs 142.4 million.

Sri Lanka Telecom was up by 75 cents to close at Rs 34.00. Dialog Telekom ended the day 10 cents lower at Rs 4.70.

Market is more likely stabilize at current level.

Announcements

19-Mar-2009 DECLARATION OF FIRST AND FINAL DIVIDEND OF LKR 2/- PER SHARE FOR THE YEAR 2008 - PROPERTY DEVELOPMENT PLC

The company informed the CSE that "Further to our letter dated 24 February 2009 with regard to the above dividend by Property Development PLC, we hereby confirm that resolution to pay the proposed dividend was unanimously passed at the Annual General Meeting of the Company held today at 3.00 pm".

CLSA report sees India FY10 GDP growth at 4.6%

The bad news for the economy just keeps on pouring. Today, a CLSA
report predicted that India's GDP growth could plummet to 4.6% in the
next fiscal while fiscal deficit will shoot up to unacceptable levels.
Though some in the government agree with this view, as a whole the
government is still trying to put on a brave front hoping that somehow
the Indian economy will revive in the second quarter of the next
fiscal. CNBC-TV18's Abhijit Neogy reports.

Just when the January IIP figures held out hope that the worst could
be over, there seems to be more bad news for the economy. Leading
foreign brokerage firm CLSA says India's growth may plummet to an
abysmal low of 4.6% in the next fiscal. Some key policymakers agree.

Abhijit Sen, Member, Planning Commission said, "Given the current
conditions where it seems the stimulus measures are still to kick in a
minimum growth of 5% is possible with the optimistic view being 6.5%
to 7%."

CLSA's report paints a bleak picture. Criticising the government's
fiscal profligacy just ahead of the elections, it predicts a total
deficit of 11% this year.

It also says this fiscal slippage will pull the rupee to a lifetime
low of 57 to a dollar, widen the trade deficit, and lead to flight of
capital.

But the real problem, it says, is that investments in manufacturing
have almost stopped. Companies have cut back on capex plans, profits
are under pressure, and returns on investment are disappointing. This
pressure is already reflecting in the revenue collections.

Even the revised direct tax target of Rs 3,45,000 crore may not be
met. The report also warns that an early recovery in this sector may
not happen. It adds that even a 150 basis point rate cut by the RBI
may not be much help. But policymakers are still banking on fiscal
stimulus measures.

"I think we again need a fiscal stimulus of at least 1.5 to 2% of
planned expenditure next fiscal but that call has now to be taken by
the government," Sen said.

The government is convinced that domestic demand, particularly in
rural areas, is intact. A rebound will start from the second quarter
of FY10. Senior Finance Ministry officials tell CNBC-TV18 that with
commodity prices falling, the government will save 1.8% of GDP in the
form of off-budget liabilities. This will offer a revenue cushion to
stimulate the economy, and achieve growth anywhere between 5-7%.

Source: Moneycontrol

Colombo Shares recovered marginally!

ASI was up by 6.51 points to close at 1618.84 while MPI gained 9.40 to close at 1681.06. Turnover was Rs 1.16 billion boosted by larger parcel of JKH & DFCC Bank shares. Over 4.4 million John Keells Holdings & 9.7 million DFCC shares traded during the day.
Dialog Telekom closed 10 cents higher at Rs 4.80. Colombo Dockyard closed two rupees higher at Rs 65.50.

According to the brokers a foreign Fund sold their stake in DFCC, NDB & JKH but buyer still not known.

Announcements

18-Mar-2009 COLONIAL MOTORS PLC

The company informed the CSE that the Resolution pertaining to the declaration of a first & final dividend of Rs. 0.50 per share for the year ended 31st March 2008 was carried unanimously at the AGM of the company held on 18th March 2009.The company further confirmed that all the other resolutions set out in the Notice convening the above meeting were also carried unanimously.

Action Taken to Stabilise Finance and Leasing Companies

Press Release - The Central Bank of Sri Lanka

The Central Bank of Sri Lanka (CBSL) is currently implementing the stimulus package for the banking, financing and leasing industry, which was approved by the Cabinet of Ministers on 25 February 2009.

In this connection, the following steps have already been taken in the implementation of the stimulus package and interventions to stabilise Registered Finance Companies (RFCs) and Specialised Leasing Companies (SLCs).

(1) The operating instructions for facilitating the sale of land, and the issue of Government Guarantees for facilities obtained from licensed banks and approved lending institutions, have been finalized, and will be issued to the RFCs and SLCs, this week.

(2) An Expert Group has been appointed as per the Cabinet decision, and such group will initially consist of the following persons:

(a) Mr Nishan Fernando, Chartered Accountant, President, Institute of Chartered Accountants of Sri Lanka.
(b) Mr Arittha Wikramanayake, Attorney-at-Law, Precedent Partner, Nithya Partners and former Director General of the Securities & Exchange Commission.
(c) Mr H M Hennayake Bandara, Chartered Accountant, President of the Association of Accounting Technicians of Sri Lanka and Additional General Manager, National Savings Bank.
(d) Mr Ajith Devasurendra, Former President, Primary Dealers' Association and Deputy Chairman, Browns Group of Companies.

This Expert Group will advise and assist in the implementation of the eight point stimulus package, as well as to stabilise the situation in any RFC and SLC. The Expert Group has also intimated that they will not accept any remuneration for their services.

(3) The CBSL has also taken the following special measures of intervention in relation to five RFCs in the Ceylinco Group:

a) The Finance Company PLC (TFC)
· Lankaputhra Development Bank Ltd. has been appointed as the Managing Agent of TFC, which will function under the guidance of the Expert Group and the CBSL.
· The CBSL has appointed certain key executives who would be entrusted with the overall management responsibilities of this company; all other directors have been removed from their executive positions on the Board of Directors.
· The Expert Group has commenced its operations and is in the process of making the necessary interventions expeditiously.
· The company has taken many steps to reduce administrative and operating expenses substantially, and the CBSL has ordered that the company does not transfer any resources of the company to related parties.
· The trade unions in the company have given an assurance that the employees will work towards reducing expenses in order to further stabilise the company

b) The Finance and Guarantee Company Ltd
The Merchant Bank of Sri Lanka PLC has entered into a management agreement with The Finance and Guarantee Company Ltd., so that the activities of The Finance and Guarantee Company Ltd. would be managed and monitored by the Merchant Bank of Sri Lanka PLC.

c) Ceylinco Investment and Realty Ltd
Lankaputhra Development Bank Ltd. has been appointed as the Managing Agent of Ceylinco Investment and Realty Ltd., which will function under the guidance of the Expert Group and the CBSL.


d) Asian Finance Ltd
Lankaputhra Development Bank Ltd. has been appointed as the Managing Agent of Asian Finance Ltd., which will function under the guidance of the Expert Group and the CBSL.

e) Seylan Merchant Leasing PLC
Seylan Merchant Bank PLC has decided to divest its shareholding of about 81% in Seylan Merchant Leasing PLC to People's Leasing Company Ltd.

In the case of the above companies, the Expert Group would be advising the respective management teams of additional steps to be taken, while also assisting in obtaining necessary financing support from financial institutions.

The above measures and their quick implementation are expected to stabilise the above mentioned companies of the Ceylinco Group, as well as give confidence to the entire industry.

(4) With regard to repossessed vehicles and equipment, in accordance with the Cabinet decision, all movable assets repossessed by RFCs and SLCs and yet undisposed of and in their possession, will be offered to the original users (lessees/hirers) before 30 April 2009, on the following terms:

(a) the original lessee or hirer must agree to re-enter into a new lease within one month of the offer.
(b) Penal interest or similar charges to be waived by the RFC or SLC
(c) Seizing charges, storage/parking yard charges, etc to be waived by the RFC or SLC
(d) 25% of the outstanding amount of the existing facility to be paid by the original users (lessees/hirers) at the time of re-hire of the asset, and the balance amount to be on a new 2-year finance lease, with normal terms and conditions as may be set out by the RFC or SLC.
This measure would enable these assets to be put into productive use once again, thus supporting economic activity in the country.

Colombo market continued to fall.

ASI fell further 7.49 points to close at 1612.33 while Milanka index closed 8.24 points lower at 1671.66. Turnover was Rs 87.7 million.

Aitken Spence lost Rs 44.50 to close at Rs 310.50 while illiquid Hunters & Co gained Rs 48.00 to close at Rs 240.00 on 100 shares.

There were 38 positive contributors & 46 negative contributors during the day.

Announcements

17-Mar-2009 ACQUISITION OF 5,918,445 SHARES IN CML - MTD CONSTRUCTION LIMITED - MTD WALKERS PLC

The company has informed the CSE, the following information pertaining to the acquisition.Price paid per share - Rs.55.00Total consideration paid - Rs.325, 514,475.00

16-Mar-2009 ANNUAL GENERAL MEETING (AGM)

LANKEM CEYLON PLCIn terms of Rule 8.2 of the Listing Rules, the company writes to inform the CSE that the Resolutions set out in the Notice of the Meeting convening the Forty Fourth Annual General Meeting held on 16th March 2009 were carried unanimously.

16-Mar-2009 ACQUISITION OF SHARES IN CML- MTD CONSTRUCTION LIMITED - MTD WALKERS PLC

The company has informed the CSE that in terms of the Section 9(v) 9 of Listing Rules of the Colombo Stock Exchange, M T D Walkers PLC has acquired 5,918,445 shares being 57.8% holding in CML - MTD Construction Limited.

13-Mar-2009 ACQUISITION OF OPERATIONS OF "ABC CREDIT CARD COMPANY LTD" AND "SILVEREEN FINANCE COMPANY LTD."

The Company has informed the CSE that for the acquisition of ABC Credit Card Company Ltd, People's Merchant Bank PLC (PMB) has created a new Company by the name of "PMB Credit Card Co.Ltd."The consideration for the acquisition amounted to Rs.785mn. The total credit card operations, selective and quantified assets and liabilities of "ABC Credit Card Company Ltd," were taken over by the new Company. the details of which are given below:Liabilities - Rs.mnPublic borrowings - 700Bank liabilities- 23Other liabilities- 62Total- 785Assets- Rs.mnLand and buildings- 420Credit Card balance receivables- 100Silvereen Finance Co. Ltd- 210Other assets- 55Total - 785As per the agreements signed, 44% of the shares of Silvereen Finance Company Ltd, has been transferred to PMB. The remaining shareholders have agreed to transfer the balance 56% also to PMB, with this acquisition. PMB expects to enter into finance Company operations.

13-Mar-2009 ACQUISITION OF SHARES IN KURUWITA TEXTILE MILLS LTD.

Kuruwita Textile Mills Ltd wishes to announce the CSE that the parent Company of its majority share holder Brandix Textile Holdings Ltd, Phoenix Ventures Ltd, has acquired 771,900 shares of Kuruwita Textile Mills Ltd at a price of Rs. 25 per share.

Global credit crisis haunts Colombo bourse

By Duruthu Edirimuni Chandrasekera

The Central Bank move to reduce the Statutory Reserve Ratio (SRR) by a further 75 basis points late last month could have a beneficial impact on the stock market by way of additional fund flow into equity investments, but the global credit turmoil will continue to haunt the market, according to some analysts. They said this government intervention to reduce interest rates and strategies to pump liquidity to the banking system however is yet to see any positive impact on the Colombo bourse up to now.

“This was done in a bid to ensure adequate liquidity in the financial market, but, the overall market conditions could be expected to remain stagnant overall with foreign stock markets continuing to be in turmoil and certain local deposit taking institutions having tight liquidity positions,” an analyst said. The regulator had previously reduced its SRR requirement for commercial banks by 225 basis points since October 2008 to 7.75%, as a measure to address the liquidity shortfall in the financial market. Analysts said that despite these measures, the financial market however continued accumulating a daily shortfall, which amounted to approximately Rs.18 billion for the reserve week ended 20th February 2009.

The Central Bank expects the forthcoming SRR reduction to inject an estimated Rs.9 billion to the money supply, while partly mitigating the negative consequences of the global credit crunch. In a further easing of monetary policy amidst lower inflationary expectations, the Central Bank also reduced its policy rates (overnight repurchase rates and reverse repurchase rate) last month.

Source : Sunday Times

Colombo ASI & MPI stock indices moved different directions.

All share index lost 1.38 points to close at 1632.87 but more liquid MIlanka index closed 10.22 points higher at 1697.93.

Turnover improved to Rs 82.3 million. Over 3.9 million Dialog Telekom shares traded within price range of Rs 4.70 – 4.80 & closed 10 cents higher at Res 4.80. Sri Lanka telecom closed 25 cents lower at Rs.33.50. Unlisted fixed line operator Lanka Bell announced free outgoing call package creating further competition within telecom industry.

Colombo stock market will fluctuate within narrow range in coming week too as lack of market moving news.

Colombo shares fell slightly.

Colombo ASI lost 3.66 points to close at 1634.25. MPI dropped 4.87 points to close at 1687.71. Turnover recorded for the day was only Rs 46.9 million.

John Keells Holdings was up by 1.25 to close at Rs 57.00. Eagle Insurance lost 3.00 rupees to close at Rs 112.00.

Foreign purchases were Rs 9.4 million & their sales amounted to Rs 5.3 million.
Most Asian Stock Markets ended today on negative territory.

Sri Lanka shares up! Thin turnover.

Market ended on positive today but turnover was only Rs 37.7 million. ASI up by 7.21 points to end at 1637.91 whole Milanka index closed 16.37 points higher at 1692.58.
Highly illiquid Bukit Darah Plc closed Rs 49.75 higher at Rs 750.00. Hotel Services (Ceylon) Plc gained 14.00 rupees to end at Rs 127.50.
Sri Lanka Telecom ended the day 75 cents lower at Rs 34.00.

Announcements

11-Mar-2009 APPLICATION TO DELIST THE ORDINARY SHARES OF ASSOCIATED ELECTRICAL CORPORATION PLC (AEC) FROM THE OFFICIAL LIST OF THE COLOMBO STOCK EXCHANGE.

The Company has informed CSE that they have received the approval from the SEC by their letter of 6th March 2009 at 3.48 p.m

11-Mar-2009 INTERIM FINANCIAL REPORTS OF LISTED COMPANIES.

The following companies have released their Quarterly Financial Statements for the quarter ending 31st December 2008 to the CSE. These reports are available for free download from the relevant Company Profiles on the CSE website.

Listed Company ID:-Released to the market on 11-03-2009 - CFVF, MAL..Released to the market on 09-03-2009 - KURU, DIST, CSF & KDLABAN, ACL, ACME, AEC, AHPL, AHUN, ALLI, APDL, APLA, ARPI, ASCO, ASHO, ASIR, ASPH, AUTO, BALA, BBH, BFL, BHR, BINN, BLUE, BOC, BOGA, BOPL, BREW, BRWN, BUKI, CABO, CARE, CARG, CARS, CCS, CDIC, CERA, CFI, CFIN, CFLB, CFT, CHL, CHMX, CHOT, CIC, CIND, CINV, CIT, CLND, CLPL, COCO, COLO, COML, CONN, CPRT, CSD, CTC, CTEA, CTHR, CTLD, CWM, DFCC, DIAL, DIMO, DIPD, DPL, EAST, EBCR, EDEN, EMER, EQIT, ETWO, GEST, GHLL, GOOD, GREG, GUAR, HARI, LCEY, LDEV, HASU, HAYC, HAYL, HDFC, HEXP, HNB, HHL, HOPL, HUNA, HUNT, INDO, JKH, JKL, KAHA, KAPI, KCAB, KFP, KGAL, KHC, KHL, KOTA, KZOO, LALU, LCEY LFIN, LHCL, LHL, LIOC, LION, LITE, LMF, LOLC, LPRT, LVEN, LWL, LWL(AMENDED), MADU, MASK, MGT, MIRA, MORI, MRH, MSL, MULL, NAMU, NDB, NEH, NEST, NHL, OFEQ, ONAL, PALM, PARA, PARQ, PDL, PEG, PHAR, PMB, RCL, REEF, RENU, REXP, RGEM, RHL, RICH, RPBH, SELI, SEMB, SERV, SEYB, SFCL, SHAL, SHAW, SHOT, SIGV, SIL, SING, SLND, SLTL, SMLL, SMOT, SOY, SPEN, STAF, SUGA, SUN, SWAD, TAJ, TANG, TFC, TKYO, TRAN, TSML, TYRE , UAL, UCAR, UML, VLL, WATA and YORK.

Stocks: Biggest gains of '09

The Dow gains 379 points, Nasdaq surges 7% and S&P 500 rallies 6.4% on
Citigroup and possible limit on short selling.

NEW YORK (CNNMoney.com) -- Stocks rallied Tuesday - with all three
major indexes logging their biggest gains of the year - after
Citigroup cooled some worries about its future and regulators said
they may reinstate a key trading rule.
The Dow Jones industrial average (INDU) gained 379 points, or 5.8%. It
was the Dow's biggest one-day point and percentage gain since Nov. 24,
2008.
The S&P 500 (SPX) index gained 43 points, or 6.4%. It was the biggest
one-day point gain since Dec. 16, 2008 and biggest on a percentage
basis since Nov. 24, 2008.
The Nasdaq composite (COMP) climbed almost 90 points, or 7.1%. It was
the biggest one-day point gain since Nov. 13, 2008 and biggest
percentage gain since Oct. 28, 2008.
"Today's rally was very welcome news from a market that's gone nowhere
but down over the last several months," said Michael Sheldon, chief
market strategist at RDM Financial Group.
He said that the advance was strong in terms of the number of stock
advancers versus decliners, as well as the trading volume. Looking
forward, one issue is that there are a lot of sellers who are going to
want to sell into strength, he said. But for the time being, stocks
could manage more gains.
"Overall we are oversold here and there is still a lot of pessimism in
place that could fuel a rally," he said. Extreme pessimism can be good
for a rally from a contrarian perspective.
Citigroup (C, Fortune 500)'s CEO said that the company was profitable
in the first two months of the year and expressed optimism about its
capital position going forward. Shares of the hard-hit bank jumped
38%, leading a broader financial sector rally.
The stock advance picked up speed after Rep. Barney Frank, D-Mass. and
the head of the U.S. House Financial Services Committee, said that the
Securities and Exchange Commission would restore the "uptick rule."
The SEC later confirmed to CNN that it could reinstate the rule as
early as next month.
The uptick rule -- in place until July 2007 -- limited short sellers
from adding to the downward momentum of a stock that was already
plunging. In short selling, traders make money when the price of a
stock falls. Critics say the ending of the rule exacerbated selling in
the financial sector over the last year and a half.
Stocks were also bouncing Tuesday after the recent bloodletting in the markets.
Year-to-date, the Dow and S&P 500 had both fallen 25% as of Monday's
close, while the Nasdaq had fallen around 17%. The market close Monday
left the Dow and S&P 500 at 12-year lows and the Nasdaq at 6-year
lows.
In light of the huge selloff, analysts have been saying for a while
that the market was due for a sharp, bear market rally. That seemed to
take hold Tuesday.
"There's a chance that if this gets enough gas, it could move up a lot
more," said Tom Schrader, managing director at Stifel Nicolaus. That
turned out to be the case last fall after the stock market hit lows in
both October and November.
"There's tons of cash sitting in money markets and if people start to
think they're going to miss out, they're going to want to jump back
in," Schrader said.
In other news, Bernard Madoff - the alleged swindler behind a $50
billion fraud - is set to plead guilty to 11 counts that could bring a
sentence of 150 years in prison.
Citigroup: CEO Vikram Pandit, in a letter to employees, said the bank
was profitable year-to-date, surprising Wall Streeters who expect the
company to post a quarterly loss. However, the letter, filed with the
SEC, did not specify how much credit losses and other one-time items
would offset the profit.
Shares had fallen about 80% through Monday's close on worries that the
company won't be able to stay afloat, despite repeated government
efforts to bolster the company. Last week, the government agreed to
take up to a 36% stake in the company. (Full story)
Movers: American Express (AXP, Fortune 500), Bank of America (BAC,
Fortune 500), Wells Fargo (WFC, Fortune 500), JPMorgan Chase (JPM,
Fortune 500), Goldman Sachs (GS, Fortune 500) and Morgan Stanley (MS,
Fortune 500) were among the other bank stocks rallying.
The KBW Bank (BKX) sector index, a measure of the 24 largest banks,
climbed 15.6%.
However the rally was broad based, with all 30 Dow components
advancing. In addition to the Dow's financial stocks, other big
gainers included Alcoa (AA, Fortune 500), Caterpillar (CAT, Fortune
500), DuPont (DD, Fortune 500), General Electric (GE, Fortune 500) and
General Motors (GM, Fortune 500).
A variety of big tech shares jumped, too, including Cisco Systems
(CSCO, Fortune 500), eBay (EBAY, Fortune 500), Dell (DELL, Fortune
500), Google (GOOG, Fortune 500) and Dow component Intel (INTC,
Fortune 500).
Dow component United Technologies (UTX, Fortune 500) cut its 2009
revenue and earnings-per-share forecast, citing the global recession.
The company also said it was cutting 11,600 jobs this year, or about
5% of the workforce.
Dow component AT&T (T, Fortune 500) said it will add 3,000 jobs in
2009 as part of a capital spending program.
Market breadth was positive. On the New York Stock Exchange, winners
topped losers by over 13 to one on volume of nearly 2.19 billion
shares. On the Nasdaq, advancers beat decliners by more than five to
one on volume of 2.49 billion shares.
Today, March 10, is a dubious anniversary for the Nasdaq. It's the
9-year anniversary of the day it hit its all-time high of 5048.62 at
the height of the tech boom. As of Monday's close, the tech-heavy
index was down 75% from its peak. (Full story)
Bernanke: Investors also weighed comments from Federal Reserve
Chairman Ben Bernanke, who called for an overhaul of the regulatory
system. Speaking in the morning at the Council on Foreign Relations in
Washington, the Fed chief said that companies deemed "too big to fail"
need to be subject to stricter regulation so that a crisis like the
current one doesn't happen again.
In comments made after his speech, Bernanke also said he does not
support the suspension of the mark-to-market accounting rule, but
rather improvements in it. Critics say the rule has exacerbated the
financial crisis by forcing banks to value assets at current fire sale
prices. (Full story)
The Securities and Exchange Commission is not planning to suspend the
rule, Reuters reported. A congressional panel will exam the rule
Thursday.
0:00 /5:32Turn banks into utilities
Bonds: Treasury prices tumbled, raising the yield on the benchmark
10-year note to 3% from 2.87% Friday. Treasury prices and yields move
in opposite directions.
Lending rates tightened. The 3-month Libor rate rose to 1.33% from
1.31% Monday, while the overnight Libor rate held stead at 0.33%,
according to Bloomberg.com. Libor is a bank-to-bank lending rate.
Other markets: In global trading, Asian markets ended mostly higher,
with the exception of the Japanese Nikkei. European markets rallied.
In currency trading, the dollar fell versus the euro and the yen.
U.S. light crude oil for April delivery fell $1.36 to settle at $45.71
a barrel on the New York Mercantile Exchange.
COMEX gold for April delivery fell $22.10 to settle at $895.90 an ounce.
First Published: March 10, 2009: 11:25 AM ET

Stock Market Investing Best Stocks To Buy

by derek smiley

The best stocks to buy, is a question which revolves in the mind to all of us when it comes to online stock buying. What is hot and what is not. Which sectors and which markets should you be looking at today? Should you be looking at the banking market for instance! With so many banks going "tits up" throughout the world, it may appear to be a bad idea. However dare you take the risk as some of them which has dropped 400% plus may prove in the long term to be the best performing stocks, or what about stock mutual funds?

Make sure you have the most up to date news on your stock market investing. The financial times has proved a great institution and mine of proven informative information over the years. They not only give you the best investment stock to buy but also give you the reason why. Always read what the experts have to say.

Stock mutual funds have proven to be a best bet along with penny stocks. A stock broker online can also give you the best trading strategies for your online stock buying. Penny stock advice is a must to make it in this field of investing. They can give you personalized advice on how to maximize your returns and minimize your risks on your selected stocks by giving you different strategies for each.

Penny stock system money management principles trading will mean you need a free list of penny stocks to maximize your returns and minimize your risks when trading in any stock. Penny stock charts are also very useful and be easily downloaded. You may wish to consider other stock option advice for your stock day trading.

Stock market investing can be a minefield and it is highly recommended you seek stock option advice from an expert, to find the best stocks to buy. How to use your money wisely is not that simple. You have probably heard the old maxim that a fool and his money is soon parted!
Penny stock system trading needs patience and long term thinking and education. Seek product and book reviews. Knowledge is power and this especially applies to stock day trading. To gain that knowledge we recommend various books and products that will help you make smarter decisions. These are found easily on the internet. The best investment stock advice is out there, go and find it!

If you watch the news or read a newspaper, you are sure to have heard of the stock market. You read that shares in whoever inc. showed a 12% gain or a massive 20% loss, or the Japanese stock exchange average fell a whopping 500 points today, but does it really make any sense?
The credit crunch has opened a new world for us all, and has proven we can’t play God!
If so, then you are like many of your fellow human beings. There is nothing easy about understanding the workings of the stock market. However, if you take the time to learn what there is to know, you may just wind up making a lot of money in investments, just observe the masses and do the opposite.

About the Author
Derek Smiley likes the roller coaster ride of stock and shares and his stock day trading system. Stock market investing and the best stocks to buy can teach you very memorable lessons in mutual fund adventures.

Market gained marginally on thin trading.

Colombo ASI was up by 3.41 points to close at 161.11 while MPI also
gained 0.12 points to close at 1675.41.
Turnover was Rs 47.3 million.
Commercial Bank of Ceylon PLC was up by Rs 2.50 to close at Rs 82.75.
Seylan Merchant Leasing PLC was up by Rs 6.00 on takeover information
& closed at Rs 15.25.
Hemas Holdings PLC lost 4.25 to close at Rs 55.75. Dipped Products Plc
closed Rs 9.75 lower at Rs 48.25 but only 1400 shares traded.

Announcements

09-Mar-2009 PRESS RELEASE - THE FINANCE COMPANY PLC

The Company has informed CSE that as per the press release issued by
the Department of Supervision of Non Banking Financial Institution of
Central Bank of Sri Lanka (CBSl) the CBSL has identified certain key
executives who would be entrusted with the overall management
responsibilities of this company and these appointments are due to be
made within the next two days. Meanwhile, assessments are made in
relation to the current situation so that the necessary interventions
can be made by the selected management team expeditiously, under the
guidance and advice of the Expert Group.

Further, the company informed that the appointments referred to above
are to be made in the next two days and such they are not in a
position to make any disclosure as yet.

09-Mar-2009 ACQUISITION OF "ABC" CREDIT CARD CO. LTD

People's Merchant Bank PLC has informed CSE that they have created a
new Company by the name of PMB Credit Card Co.Ltd. to take over the
operations of ABC Credit Card Co.Ltd.
The agreements were singed on Saturday, 7th March, 2009 by the
Directors of People's Merchant Bank PLC, PMB Credit Card Co.Ltd and
ABC Credit Card Co.Ltd

09-Mar-2009 ACQUISITION OF 44% OF SILVEREEN FINANCE CO.LTD - PEOPLE'S
MERCHANT BANK PLC

The Company has informed CSE that they have acquired 44% stake in
Silvereen Co.Ltd.
The agreements were singed on Saturday,7th March,2009 by the Directors
of People's Merchant Bank PLC and Mr. Shiran Dissanayake, a
shareholder of Silvereen Finance Co.Ltd.

09-Mar-2009 ANNUAL REPORTS OF LISTED COMPANIES.

The following Companies have released their Annual Financial Reports
for the year ended 31st March/31st December 2008 to the CSE.

Released to the Market on 09-03-2009 - SAMP

Released to the Market on 06-03-2009 - JFIN,COMB & MBSL

Released to the Market on 05-03-2009 - UDPL,UAL & HAPU

Released to the Market:- LCEY, COLO, RGEM, PDL, EBCR & CTC, HNB, NDB,
OSEA,CTCE, TPL, KVAL & SLTL

09-Mar-2009 GESTETNER OF CEYLON PLC

The Company has informed CSE of the decision made today by the Board
of Directors of the above Company to acquire 699,998 Ordinary Shares
in Nashua Lanka (Pvt) Ltd for a total consideration of SLR.
6,999,980/-

06-Mar-2009 MERCHANT BANK OF SRI LANKA PLC

The Company has informed CSE that MBSL has accepted an assignment from
The Finance & Guarantee Company Limited to provide consultancy
services to The Finance & Guarantee Group to restore public confidence
and to resolve its current liquidity problems. We have also obtained
clearance from the Central Bank in this regard. MBSL is in the process
of gathering relevant information /documents to develop a Plan to
restore business activities of The Finance & Guarantee Group without
any responsibility in the capacity of managers or directors.

Further, MBSL is also engaged in preliminary discussions with Central
Bank. to undertake the management of the affairs of Ceylinco Savings
Bank and to rehabilitate the bank with the view of establishing a long
term relationship.

Any further developments on the aforesaid business assignments, which
in the opinion of the Directors of MBSL require clarification or
confirmation in the interest of market activity on the MBSL stock.

06-Mar-2009 SALE OF SHARES HELD BY CARSON CUMBERBATCH PLC TO GOODHOPE
ASIA HOLDINGS LTD - Carson Cumberbatch PLC

Shareholdings of Carson Cumberbatch PLC in the followings companies
were sold to GoodHope Asia Holdings Ltd. A fully owned subsidiary of
the Company incorporated in Singapore, today on the trading floor.

Name of the Company - No of shares - percentage
Indo Malay PLC - 3,590,438 - 51.30%
Good Hope PLC - 3,705,082 - 53.93%
Selinsing PLC - 3,482,497 - 50.18%
Shalimar (Malay)PLC - 5,205,606 - 75.01%

As GoodHope Asia Holdings is a fully owned subsidiary of the Company,
these transaction would not give rise to mandatory offers.

06-Mar-2009 SALE OF SHARES HELD BY SHALIMAR (MALAY) PLC TO CARSON
CUMBERBATCH PLC - SHALIMAR (MALAY) PLC

9,733,607 shares (24.14%) held by Shalimar (Malay) PLC in Equity One
PLC were sold to Carson Cumberbatch PLC, today on the trading floor.

06-Mar-2009 PURCHASE OF SHARES OF EQUITY ONE PLC FROM SHALIMAR
(MALAY) PLC - CARSON CUMBERBATCH PLC

9,733,607 shares (24.14%) held by Shalimar (Malay) PLC in Equity One
PLC were purchase by the Company, today on the trading floor.

As a result the Company's holding in Equity One PLC has increased to
94.59% from 70.45%.

06-Mar-2009 Another Year of Significant Performance at Asian Alliance
Insurance

The Detail Article has been attached in the Profile section of Asian
Alliance Insurance Co. PLC.

06-Mar-2009 ACQUISITION OF NEXTHOMES LIMITED - KELSEY DEVELOPMENTS PLC

In terms of Section 9.1(iv) 3 of the Listing Rules of the Colombo
Stock Exchange Kelsey Developments PLC announced to CSE that it has
agreed to acquire 250,000 shares of Nexthomes Limited which is 100% of
the voting rights, at Rs. 100/- per share. The transaction is expected
to conclude in the next few days.

06-Mar-2009 ANNOUNCEMENT AS PER SECTION 9.I (IV) OF THE LISTING RULES
OF THE COLOMB9 STOCK EXCHANGE - INDO MALAY PLC

3,705,398 shares which amounts to 52.95% of the voting rights of the
Company were purchased by GoodHope Asia Holdings Ltd. a fully owned
subsidiary of the Carson Cumberbatch PLC and incorporated in
Singapore, from the following sellers:

Carson Cumberbatch PLC - 3,590,438 - 51.3%
Mylands Investments Limited - 78,960 - 1.13%
Weniwella Investments Limited - 36,000 - 0.52%
Total - 3,705,398 - (52.95%)

06-Mar-2009 ANNOUNCEMENT - AS PER SECTION 9.l(IV) OF THE LISTING
RULES OF THE COLOMBO STOCK EXCHANGE - SELINSING PLC

4,009,037 shares which amounts to 57.77% of the voting rights of the
company were purchased by GoodHope Asia Holdings Ltd. a fully owned
subsidiary of the Carson Cumberbatch PLC and incorporated in
Singapore, from the following sellers,

Carson Cumberbatch PLC - 3,482,497 - 50.18%
Mylands Investments Limited - 54,216 - 0.78%
Watapota Investments PLC - 472,324 - 6.8%
Total 4,009,037 (57.77%)

06-Mar-2009 ANNOUNCEMENT AS PER SECTION 9.I (IV) OF THE LISTING RULES
OF THE COLOMB9 STOCK EXCHANGE - GOOD HOPE PLC

3,842,769 shares which amounts to 55.92% of the voting rights of the
Company were purchased by GoodHope Asia Holdings Ltd. a fully owned
subsidiary of the Carson Cumberbatch PLC and Incorporated in
Singapore, from the following sellers :

Carson Cumberbatch PLC - 3,705,082 - 53.92%
Mylands Investments Limited - 106,835 - 1.55%
Weniwella Investments Limited - 30,852 - 0.45%
Total - 3,842,769 (55.92%)

06-Mar-2009 ANNOUNCEMENT - AS PER SECTION 9.l(IV) OF THE LISTING
RULES OF THE COLOMBO STOCK EXCHANGE - SHALIMAR (MALAY) PLC

Carson Cumberbatch PLC holding of 5,205,606 Ordinary Shares of
Shalimar (Malay) PLC which amounts to 75.01% of the voting rights of
the Company was sold to GoodHope Asia Holdings Ltd. a fully owned
subsidiary of the said Carson Cumberbatch PLC which is incorporated in
Singapore.

06-Mar-2009 SALE OF SHARES HELD BY WATAPOTA INVESTMENTS PLC TO
GOODHOPE ASIA HOLDINGS LTD. - WATAPOTA INVESTMENTS PLC

472,324 shares (6.8%) held by Watapota Investments PLC in Selinsing
PLC were sold to Goodhope Asia Holdings Ltd.,a company incorporated in
Singapore, today on the trading floor.

GoodHope Asia Holdings Ltd, is a fully owned subsidiary of Carson
Cumberbatch PLC.

06-Mar-2009 Preliminary Announcement - SEYLAN MERCHANT BANK PLC

Seylan Merchant Bank PLC is pursuing the possibility of divesting the
controlling stake of Seylan Merchant Leasing PLC to Peoples Leasing
Company Ltd.

A Non Disclosure Agreement is singed on 6th March 2009 between Seylan
Merchant Leasing PLC and Peoples Leasing Company Ltd.

Iindian stock market- SATYAM VS ONGC

By JACKIE RANGE and RAKESH SHARMA
NEW DELHI -- A Goldman Sachs report that raised corporate governance
concerns about India's largest oil and gas company by revenues and
production has struck a nerve among investors in India.
On Thursday, investors unloaded shares in Oil and Natural Gas Corp.
after the brokerage released a report that estimated the government
had taken away almost $20 billion in cash over the last six years
without consulting the company's minority shareholders. That sum
includes an estimated $6.5 billion for fiscal 2009, which ends March
31 this year. The government is ONGC's biggest shareholder, holding
74.13%.
Oil and Natural Gas Corp.'s Bombay stock exchange listed shares fell
as much as 4% and closed Thursday's session down 1.90%. India's
benchmark index, the Sensex, closed down 2.94%. Market watchers said
the shares had fallen on the back of the bearish report from Goldman
Sachs.
The management and accounting at Indian companies has come under the
spotlight in the wake of a scandal at outsourcer Satyam Computer
Services Ltd. India's Ministry of Corporate Affairs, which is
spearheading the investigation into Satyam, has also ordered a probe
into charges of accounting irregularities at Educomp Solutions Ltd, a
New Delhi-based provider of software and content for educational
institutions. Educomp said the investigation followed a demand from
the company itself to investigate a slump in its share price.
Earlier this year, Satyam's former chairman admitted to overstating
the company's profit and revenue and creating a fictitious cash
balance of more than $1 billion. Since then, the market has become
more wary of corporate governance issues.
In the report released Thursday, Goldman Sachs reiterated its sell
rating on ONGC's stock and pointed to a number of factors which are
likely to weigh on the stock, which included its "unexciting" domestic
track record, the company's overseas growth strategy and "long running
corporate governance issues."
The key concern about corporate governance centered on the near $20
billion removed to subsidize loss-making oil marketing companies.
Those state-owned companies had been hurt by government policies meant
to protect consumers from high oil prices. The government fixes the
price of some fuel products such as kerosene and diesel, so oil
importers have recently incurred losses by buying at a high price and
then selling low in India.
The report also said that investors and independent directors had
objected to the practice, but that "there has not been headway on this
issue." It added that similar issues "would likely cause serious
concern" at privately run companies.
An ONGC executive said he couldn't comment on what Goldman's $20
billion estimate, but confirmed that the company does help the
government compensate companies for subsidy-related losses. "If you
are purchasing the shares of ONGC, as a shareholder you are aware of
this," said the executive, who declined to be named. "You have been
told there is a subsidy burden."
ONGC's Chairman R. S. Sharma told Dow Jones Newswires that the company
hadn't violated corporate governance standards and had kept its board
informed about the subsidies. "There are no issues of corporate
governance having been compromised at any point of time," said Mr.
Sharma.
While the Indian government hasn't defined how arrives at the size of
the subsidies, or when they're expected to be paid, one analyst played
down the potential trouble for ONGC.
"It's more of a policy issue regarding share of revenues to be given
by ONGC to the government," said Niraj Mansingka, an analyst at
Edelweiss Securities in Mumbai. Mr. Mansingka said that the payments
should be consistent and predictable rather than decided in an "ad hoc
nature."
—Santanu Choudhury contributed to this article. Write to Jackie Range
at jackie.range@wsj.com and Rakesh Sharma at
rakesh.sharma@dowjones.com
Copyright 2008 Dow Jones & Company, Inc. All Rights Reserved
This copy is for your personal, non-commercial use only. Distribution
and use of this material are governed by our Subscriber Agreement and
by copyright law. For non-personal use or to order multiple copies,
please contact Dow Jones Reprints at 1-800-843-0008 or visit
www.djreprints.com
More In Busine

__._,_.___
Messages in this topic (1) Reply (via web post) | Start a new topic
Messages | Polls
Disclaimer:Stock Market trading is risky and this email does not
warrant or make any representations regarding the use or the results
of the materials posted on this group or other sources in terms of
their correctness, accuracy, reliability, profit, or otherwise. This
group does not guarantee the accuracy or completeness of any
information and is not responsible for any omissions.

Social investing sites where users can share tips will help the Indian retail investor

by Gautam Gautam

The Indian retail investor is at a great disadvantage to his institutional counterpart. Lack of access to sophisticated tools, research databases, less knowledge and less time are obvious reasons why. Moreover in India, even 'public' information about smaller stocks takes a while to disseminate, due to limited coverage by mainstream media. By harnessing aggregating different sources of information using RSS feeds, and organizing them into categories such as stocks and sectors using search and tags, it becomes much easier for the retail investor to find or be alerted to information that would interest them.
Aggregation is being done (to an extent) in India. However, a credible site that aggregates research and analysis is sorely needed.
If users were able to pick stocks, giving them a rating of ‘Buy’ or ‘Sell’ and specify timeframes, target prices, stop losses, limit orders and so on, and then share this information – it would be incredibly useful. It is critical that along with such shared advice, there is sort of rating for the user sharing the advice (stock picks). This rating must not be user generated, but driven by historical performance of the user’s advice: taking into account return and risk to remove bias and increase accuracy. What’s emerging from this concept is a community for Investors and Traders – a social investing site, but one driven by a member rating system. There are several such sites in the US, but only one or two credible social investing sites in India.
Gautam Kshatriya is author of this article on stock tips.
Find more information about share tips here.
Article Source: http://www.articledashboard.com/Article/Social-investing-sites-where-users-can-share-tips-will-help-the-Indian-retail-investor/765124

The History of Wall Street

When people in the media, or just people in the know, refer to the
various stock markets in lower Manhattan in New York City, they
usually just refer to Wall Street. The now famous financial district
has become synonymous with large amounts of money, power and
influence. But how did one street manage to evolve into such an
important address?

Ironically, most major investment firms that helped to build Wall
Street into the financial force that it is today aren't even
headquartered there anymore. Thanks to technology advancements, these
companies are usually headquartered in other parts of Manhattan or in
neighbouring New Jersey or Connecticut. One of the most influential
companies in Wall Street history, J.P. Morgan moved from the address
that they helped make famous in late 2001.

The name Wall Street was actually given to the street since it formed
a boundary to the New Amsterdam settlement in the early 1600's. To
help ward off the British, a 12-foot wall was built around the street
to keep out invaders in 1653. In 1792, the Buttonwood agreement
started the New York Stock Exchange and its headquarters would be on
Wall Street.

In 1889, a newspaper that would eventually become the Wall Street
Journal began publication. The paper took its name from the fact that
a growing financial district was sprouting around the stock exchange
and many companies that would go on to be powerful forces in the
United States economy were headquartered there.

One of the most well known symbols of Wall Street, the JP Morgan
headquarters, was built in 1914. The building still stands today, but
is now owned and run by Deutsche Bank.

Wall Street has seen its fair share of history over the years, with
the 1920 bombing that killed around 40 people and injured 400 to the
great crash of 1929 that saw some people kill themselves. Today, if
you check the front façade of the JP Morgan building, you can still
see pock marks of the 1920 terrorist attack.

The construction of the World Trade Centers were the only real major
architectural change to the financial district in the last half of the
20th century, and their subsequent destruction has left a void in the
hearts and minds of many that work and live near there.

The history of Wall Street is a collage of incredible highs and
devastating lows. As the center for American and some would say world
finance, you can bet that there will be plenty of memories made on the
most famous street in the world.

What Is Technical Analysis? And How Can I Use Technical Analysis In My Trading?

Technical Analysis (or TA) refers to the analysis of chart trends and
patterns from the past to predict the future movements of a stock (or
a market) and identify potential trading opportunities. By using TA, a
trader can distinguish trends, patterns and other trading signals and
using this information to make more informed trading decisions. By
using past price data and reading the chart, a trader can make higher
probability trades, therefore increasing the likelihood of making
money trading over an extended period.

Most people start off investing under the premise of "fundamental
analysis", that a company (or market) has an "intrinsic value".
However with a little experience in the markets soon it is discovered
that this intrinsic value is very difficult to determine. Professional
analysts often disagree over this intrinsic value, it is highly
subjective. On top of this, companies' growth, profit and other
variables are constantly changing, making it next to impossible to
find this true intrinsic value.

Technical Analysis on the other hand takes a step back from intrinsic
value and emotional attachment to companies. Instead of trying to
place a value on a company, technical analysts simply analyse what the
market thinks about that company. The market is essentially on large
mass of opinions. The chart shows what that mass psychology thinks of
a stock, where people are buying and where they are selling. A prudent
trader can read this mass mentality and trade accordingly. By reading
the charts, and identifies trends, technical analysts can make more
informed and predictable trades.

Technical Analysis is a cross between an art and a science. In its
purest form, Technical Analysis considers only the actual price and
volume data of a company, market, or instrument. Technicians generally
search for distinctive and predictable price patterns, such as head
and shoulders, double tops and bottoms, flags and triangles. Chartists
also look for lines of support, resistance, channels and trend lines.
Once these patterns have been identified, they can be effectively
traded.

More advanced chartists will take advantage of indicators, such as
moving averages, relative strength indicators, Bollinger bands and
MACD (moving average crossover divergence). These indicators will help
to solidify what the raw price data and give a trader a more rounded
view of the stock price movements. Indicators such as a simple moving
average give a broad indication of the trend of a stock; they are very
helpful at identifying trends quickly. Taking advantage of some of the
indicators that most charting software provides is a wise choice.

Technical Analysis is widely used amongst trader and financial
professionals, and is often used by active day traders, market makers
and pit traders. It is a highly effective method of trading and
investing in the markets and takes the guess work out of trading.
Traders and investors simply need to analysis the stock's prevailing
trends and trade with them.

Anyone with an interest in the market should have at least a basic
understanding of Technical Analysis. TA would benefit long term
investors' right through to professional day traders. There is a
massive amount of potential to improve one's trading and investing
performance, accuracy and most importantly, profitability.

About The Author
The Everyday Trader offers online trading education courses. Our
trading courses would suit beginners' right through to advanced
traders and investors. For more information, see our website.
http://www.theeverydaytrader.com
By: TheEverydayTrader.com
Article Directory: http://www.articledashboard.com
Stock Market Education Courses

CSE ended the Week on positive note!

Turnover was high as Rs 4.1 billion. ASI was up by 11.64 points to close at 1627.70 while MPI was up by 7.25 points to close at 1675.29.

Larger parcels of Equity One Plc, The Indo Malay Plc & Seylan Merchant Bank Plc traded during the day.

John Keells Holdings gained one rupee & closed at Rs 57.00. Lanka Orix Leasing Plc was up by 6.25 to close at Rs 71.25.

Announcements

06-Mar-2009 DIVIDEND ANNOUNCEMENTS

AGALAWATTE PLANTATIONS PLCCompany ID:- AGALDate of Announcement:- 06.Mar.2009Rate of Dividend:- Rs.2.00 per share - First & Final Dividend Financial Year:- 2008AGM:- 31.Mar.2009XD:- 01.Apr. 2009 Payment:- 07.Apr.2009 Share Transfer Book Open TEA SMALLHOLDER FACTORIES PLC Company ID:- TSMLDate of Announcement:- 04.Mar.2009Rate of Dividend:- Rs.3.00 per share - Interim Dividend Financial Year:- 2008/2009Dates to be notified MERCHANT BANK OF SRI LANKA PLC Company ID:- MBSLDate of Announcement:- 26.Feb.2009Rate of Dividend:- Rs.1.00 per Share - First & Final DividendFinancial Year:- 2008AGM :- 30.Mar.2009XD :- 31.Mar.2009Payment :- 06.Apr.2009Share Transfer Book OpenLANKA TILES PLC Company ID:- TILEDate of Announcement:- 25.Feb.2009Rate of Dividend:- Rs.1.00 per Share - Interim DividendFinancial Year:- 2008/09Dates to be notifie

06-Mar-2009 MERCHANT BANK OF SRI LANKA PLC

The Company has informed CSE that MBSL has accepted an assignment from The Finance & Guarantee Company Limited to provide consultancy services to The Finance & Guarantee Group to restore public confidence and to resolve its current liquidity problems. We have also obtained clearance from the Central Bank in this regard. MBSL is in the process of gathering relevant information /documents to develop a Plan to restore business activities of The Finance & Guarantee Group without any responsibility in the capacity of managers or directors. Further, MBSL is also engaged in preliminary discussions with Central Bank. to undertake the management of the affairs of Ceylinco Savings Bank and to rehabilitate the bank with the view of establishing a long term relationship. Any further developments on the aforesaid business assignments, which in the opinion of the Directors of MBSL require clarification or confirmation in the interest of market activity on the MBSL stock.

06-Mar-2009 Preliminary Announcement - SEYLAN MERCHANT BANK PLC

Seylan Merchant Bank PLC is pursuing the possibility of divesting the controlling stake of Seylan Merchant Leasing PLC to Peoples Leasing Company Ltd.A Non Disclosure Agreement is singed on 6th March 2009 between Seylan Merchant Leasing PLC and Peoples Leasing Company Ltd.

06-Mar-2009 ANNUAL REPORTS OF LISTED COMPANIES.

The following Companies have released their Annual Financial Reports for the year ended 31st March/31st December 2008 to the CSE.Released to the Market on 06-03-2009 - JFIN...Released to the Market on 05-03-2009 - UDPL & HAPUReleased to the Market:- LCEY, COLO, RGEM, PDL, EBCR & CTC, HNB, NDB, OSEA,CTCE, TPL, KVAL & SLTL

Another negative day at Colombo Stock Exchange.

Both ASI & MPI lost further. ASI closed 12.77 points lower at 1616.06 while MPI lost 18.78 to close at 1668.04. Turnover for the day was Rs 74.3 million. Lanka cement contributed Rs 23.5 million for today’s market turnover by trading 2,521,200 shares.
Dialog Telekom lost further 10 cents & closed at Rs 4.60.

Announcements

05-Mar-2009 ANNUAL REPORTS OF LISTED COMPANIES.

The following Companies have released their Annual Financial Reports for the year ended 31st March/31st December 2008 to the CSE.Released to the Market on 05-03-2009 - UDPL & HAPUReleased to the Market:- LCEY, COLO, RGEM, PDL, EBCR & CTC, HNB, NDB, OSEA,CTCE, TPL, KVAL & SLTL

04-Mar-2009 DIVIDEND ANNOUNCEMENTS

TEA SMALLHOLDER FACTORIES PLC Company ID:- TSMLDate of Announcement:- 04.Mar.2009Rate of Dividend:- Rs.3.00 per share - Interim Dividend Financial Year:- 2008/2009Dates to be notified MERCHANT BANK OF SRI LANKA PLC Company ID:- MBSLDate of Announcement:- 26.Feb.2009Rate of Dividend:- Rs.1.00 per Share - First & Final DividendFinancial Year:- 2008AGM :- 30.Mar.2009XD :- 31.Mar.2009Payment :- 06.Apr.2009Share Transfer Book OpenLANKA TILES PLC Company ID:- TILEDate of Announcement:- 25.Feb.2009Rate of Dividend:- Rs.1.00 per Share - Interim DividendFinancial Year:- 2008/09Dates to be notifie

Sri Lanka Shares down

Both Srilanka Telecom & Dialog Telekom shares lost their value after Fitch Ratings downgraded their outlook. SLT closed 75 cents lower at Rs 33.50 while Dialog closed 10 cents lower at Rs 4.70.

All share index lost 32.22 points to end at 1639.47 & MPI closed 39.79 points lower at 1710.40.
Turnover was 62.5 million. John Keells Holdings lost further 2 .25 to end at Rs 57.00.
There were 98 losers & only 9 gainers during the trading day.

Announcements

03-Mar-2009 DIALOG TELEKOM PLC - CORPORATE DISCLOSURE FITCH RATING DIALOG TELEKOM AT "AA" (lka)

The Company has informed CSE that Fitch Ratings ("Fitch") today announced Dialog Telekom PLC ("Dialog") National Long Term rating at 'AA (Ika)'.Fitch has also rated Dialog's outstanding preference shares of LKR 4.5bn at 'AA-(Ika)'The Detail Rating Report has been attached in the Profile section of Dialog Telekom PLC.

03-Mar-2009 BONDS AND GUARANTEES - COLOMBO DOCKYARD PLC

The Company has informed CSE that Colombo Dockyard PLC has issued bonds and guarantees amounting to Rs.6,384.22 million as at 28th February 2009, in its regular course of business.

03-Mar-2009 INTERIM FINANCIAL REPORTS OF LISTED COMPANIES.

The following companies have released their Quarterly Financial Statements for the quarter ending 31st December 2008 to the CSE. These reports are available for free download from the relevant Company Profiles on the CSE website.LFIN,AUTO,JKH,CFI,KFP,CTC,HEXP,JKL,MRH,HASU,COCO,HAYC,KHL,RHL,HAYL,LVEN,SUGA,TSML,AHPL,CCS,CIT,DIPD,HOPL,LIOC,TRAN,CIC,HEXP,MGT,UAL,SPEN,AHUN,SMOT,CFLB,PARQ,HHL,RCL,TYRE,CPRT,PARA,KZOO,OFEQ,NEST,COLO,MULL,CLND,NHL,RGEM,BOGA,NDB.CHL,GREG,CTLD, HUNA, LHL, LWL, CHMX, LPRT, SHOT, SING, STAF,YORK,PDL, KHC, MIRA, SWAD, TAJ, DFCC, PMB, DIAL & SIL...Released to the market on 25-02-2009 - BLUE, LMF, CABO, PHAR, RGEM, RENU, UCAR & LWL(AMENDED)Released to the market on 26-02-2009 - CHOT, HDFC, KAPI, NEH, SFCL, SUN, WATA, VLL, REEF, UML, SLND, BFL, BRWN, MORI, DIMO, RICH, ABAN, KGAL, MASK, AEC, SLTL, NAMU, REXP Released to the market on 27-02-2009 - ALLI, ARPI, CFT, MSL,GEST,BOC,LHCL,ASPH,BINN,CDIC,CHOT,CARG,COML,HUNT,CONN,LOLC,EAST,KCAB,LALU,BALA,MADU,SIGV,PALM,BHR,BOPL,EDEN,ACME,SHAW,KAHA,CARS,BUKI,BREW,SMLL,LION,SEMB,TANG,RPBH,EQIT,ETWO,CTHR,APDL,GOOD,INDO,SELI,SHAL,CINV,CLPL,TFC,CTEA,ASIR,CWM,CERA,GHLL,CIND,BBH,ASCO,DPL,SEYB,SOY,KOTA,ACL,PEG,CSD,CARE,SERV,APLA,CFIN,GUAR& ONAL.Released to the market on 02-03-2009 - ASHO,TKYO,HARI&LKEMReleased to the market on 03-03-2009 - EMER,EBCR..

03-Mar-2009 NON PAYMENT OF DIVIDENDS FOR THE YEAR 2008 - PAN ASIA BANK

The Company has informed CSE that the Board of Directors of Pan Asia Banking Corporation PLC, have decided not to declare a first and final dividend for the year 2008 due to the following reasons:1.To maintain CBSL's minimum capital requirement of Rs.2.5Bn. 2.To strength the shareholders funds of the bank.

03-Mar-2009 SIGIRIYA VILLAGE HOTELS PLC - RIGHTS ISSUE DATES

Company ID :- SIGV Proportion:- 01 (One) for 01 (One) Issue Price:- Rs.20.00 The number of shares to be issued: 3,478,950 Current Stated Capital: Rs. 106,301,215EGM/ Provisional Allotment:- 24-03-2009 XR :- 25-03-2009Dispatch of Provisional Letter of Allotment :- 31-03-2009Splitting :- 08-04-2009Renunciation :- 23-04-2009Rights Trading Commences on:- 06-04-2009Subject to Shareholder approval at a General Meeting.

Most Asian Stock Markets ended lower.

Colombo market opened on positive note but ended lower as most Asian markets declined except Chinese market.

ASI lost 22.45 points to end at 1671.69 while MPI closed 23.82 points lower at 1750.11.
Turnover was LKR 76.3 million.

Seylan Bank reported 709 million loss for the last quarter & stock closed Rs 2.25 lower at 34.50. Sri Lanka Telecom lost 75 cents to end at Rs 34.25.

John Keels Holdings 75 cents lower at Rs 59.00 but contributed Rs 21.9 million for the today’s market turnover by trading 367100 shares.

Announcements

02-Mar-2009 INTERIM FINANCIAL REPORTS OF LISTED COMPANIES.

The following companies have released their Quarterly Financial Statements for the quarter ending 31st December 2008 to the CSE. These reports are available for free download from the relevant Company Profiles on the CSE website.LFIN,AUTO,JKH,CFI,KFP,CTC,HEXP,JKL,MRH,HASU,COCO,HAYC,KHL,RHL,HAYL,LVEN,SUGA,TSML,AHPL,CCS,CIT,DIPD,HOPL,LIOC,TRAN,CIC,HEXP,MGT,UAL,SPEN,AHUN,SMOT,CFLB,PARQ,HHL,RCL,TYRE,CPRT,PARA,KZOO,OFEQ,NEST,COLO,MULL,CLND,NHL,RGEM,BOGA,NDB.CHL,GREG,CTLD, HUNA, LHL, LWL, CHMX, LPRT, SHOT, SING, STAF,YORK,PDL, KHC, MIRA, SWAD, TAJ, DFCC, PMB, DIAL & SIL...Released to the market on 25-02-2009 - BLUE, LMF, CABO, PHAR, RGEM, RENU, UCAR & LWL(AMENDED)Released to the market on 26-02-2009 - CHOT, HDFC, KAPI, NEH, SFCL, SUN, WATA, VLL, REEF, UML, SLND, BFL, BRWN, MORI, DIMO, RICH, ABAN, KGAL, MASK, AEC, SLTL, NAMU, REXP Released to the market on 27-02-2009 - ALLI, ARPI, CFT, MSL,GEST,BOC,LHCL,ASPH,BINN,CDIC,CHOT,CARG,COML,HUNT,CONN,LOLC,EAST,KCAB,LALU,BALA,MADU,SIGV,PALM,BHR,BOPL,EDEN,ACME,SHAW,KAHA,CARS,BUKI,BREW,SMLL,LION,SEMB,TANG,RPBH,EQIT,ETWO,CTHR,APDL,GOOD,INDO,SELI,SHAL,CINV,CLPL,TFC,CTEA,ASIR,CWM,CERA,GHLL,CIND,BBH,ASCO,DPL,SEYB,SOY,KOTA,ACL,PEG,CARE,SERV,APLA,CFIN,GUAR& ONAL.Released to the market on 02-03-2009 - ASHO,TKYO & HARI

02-Mar-2009 John keells Holdings PLC acquires additional stake in "SAGT"

International Finance Corporation (IFC) exercised their put option in respect to their 7.5% share of South Asian Gateway Terminals Limited ("SAGT"). John Keells Holdings PLC ("JKH") acquired its pro rata entitlement of 4.22% of the share capital of SAGT for a consideration of US$19.34 million. The balance was acquired by APM Terminals BV.

02-Mar-2009 DEFAULT BOARD TRANSFER OUT

Colonial Motors PLC has been transferred from the default board

02-Mar-2009 ANNUAL REPORTS OF LISTED COMPANIES.

The following Companies have released their Annual Financial Reports for the year ended 31st March/31st December 2008 to the CSE.Released to the Market on 16-02-2009 - LCEY & COLOReleased to the Market on 18-02-2009 - RGEMReleased to the Market on 20-02-2009 - PDLReleased to the Market on 27-02-2009 - EBCR & CTCReleased to the Market on 02-03-2009 - HNB

27-Feb-2009 CHAIRMAN / MANAGING DIRECTOR - CEYLINCO INSURANCE PLC and THE FINANCE COMPANY PLC

The above Companies have informed CSE that Mr. Lalith Kotelawala, Chairman/Managing Director of the aforesaid Companies has been remanded until 11/03/2009 by the order 26/02/2009 of the Magistrate's Court of Mount Lavinia. Mr. Kotelawala will take suitable legal action. Mr. Kotelawala remains the Chairman / Managing Director of the above Companies.

27-Feb-2009 CHAIRMAN - BLUE DIAMONDS JEWELLERY WORLDWIDE PLC

The Company has informed that Dr. Lalith Kotelawala, Chairman of the aforesaid Company has been remanded until 11/03/2009 by order dated 26/02/2009 of the Magistrate's Court of Mount Lavinia. Dr. Kotelawala will take suitable legal action. Dr.Kotelawala remains the Chairman of the above Company.

27-Feb-2009 UNION ASSURANCE PLC

The Company has informed CSE that John Keells Holdings PLC acquired 36.97% shares of Union Assurance PLC. The seller being Carson Cumberbatch PLC and its subsidiaries and associates. This transaction took place through the Colombo Stock Exchange on 20th February 2009.

27-Feb-2009 MERCANTILE SHIPPING COMPANY PLC - SALE OF VESSEL

The company has informed the CSE that Mercantile Shipping Company PLC has decided to sell mv 'Mercs Ruhunu', a vessel owned by the Company.

26-Feb-2009 ACQUISITION OF SHARES ON 20TH FEBRUARY 2009 BY JOHN KEELLS HOLDINGS PLC

The following Companies have informed CSE that the undermentioned transactions were done on the 20th February 2009 by John Keells Holdings PLCAcquisition of Shares in Ceylon Cold Stores PLC JKH has acquired 2,556,611 shares from Ceylon Guardian Investment Trust PLC at Rs.115/- per share & 1,804,700 shares from Ceylon Investment PLC at Rs. 115/- per share.Total shares bought 4,361,311Acquisition of Shares in John Keells PLC JKH has acquired 743,900 shares from Ceylon Guardian Investment Trust PLC at Rs.60/- per share & 913,400 shares from Ceylon Investment PLC at Rs. 60/- per share.Total shares bought 1,657,300Acquisition of Shares in Union AssuranceJKH has acquired 3,739,108 shares from Ceylon Guardian Investment Trust PLC at Rs.72/- per share, 3,308,850 shares from Ceylon Investment PLC at Rs. 72/- per share & 6,817,007 shares from Carson Cumberbatch PLC at Rs. 72/- per share.Total shares bought 13,864,965

Listed hotel shares may appreciate in the medium term

By Duruthu Edirimuni Chandrasekera

While some analysts say there is room for share prices of hotels listed in the Colombo stock market to appreciate with the war situation coming to an end, others say it is a case of sentiment running faster than reality.
Srimal Liyanage, Head of Research Lanka Securities said that the leisure index (hotel and travel sector index which is a sub index in the Colombo Stock Exchange) dropped 37.2% to 1,204 index points this month after reaching a record high in November 2005 and has largely underperformed the market since 2006. “Since the prices have come down sharply and the industry is operating under tough conditions, there can be an improvement in the sector counters because some strategic deals are possible as positive developments in the war front may result in local and foreign funds giving more weightage to hotels.”
He also said that especially in standalone hotels there is room for strategic deals due to the existing owners facing difficulties to continue and potential buyers finding it cheaper to acquire a listed firm than incurring a high cost to construct one. “Also the ground situation in the country is improving, which will further attract tourists.”
He said that with increasing investor attention in these areas, the listed hotel sector needs to be re-rated in the short to medium term resulting in an upside potential on counters listed under the sector.Mr. Liyanage said that Colombo city hotels always maintained an above average occupancy rate (averaged around 70% in the last five years). “This is due to high composition of business travellers and special purpose visitors stationed in Colombo.”
He said this performance is mainly driven by foreign visitors while domestic investors are also important in low arrival periods and off season. But other analysts say that in the share market retailers are buying into hotels forgetting the world scenario. “Global economies are simultaneously coming down. For long term fundamentals to sustain in this sector, it will take a while,” an analyst said.
He said the short term sentiment that the ‘war is coming to an end’ has given some push to listed hotel prices, but the long term fundamentals will take more than 12 months. He also noted that the British currency has had an massive hammering during the past few months where travelers are being cautious. “This is one of our biggest markets,” he added.
Sri Lanka recorded a monthly year on year decline in tourist arrivals for the eighth consecutive month, with January 2009 arrivals being recorded at 38,468 down 32% from 56,916 in January 2008. Whilst this is the steepest monthly decline seen in the last eight months, it should be noted that the estimated 13,000 Bohra arrivals recorded in January 2008 (and in January 2007) was not seen this year, and thus this likely contributed to the exaggerated monthly decline.
The Western European segment, which represents nearly 40% of Sri Lanka’s tourist arrivals for 2009, recorded a 25% decline for January 2009. Of this, the UK, Germany, and Netherlands recorded declines of 15%, 38% and 41% respectively amidst recessionary economic conditions, whilst France recorded an upturn in arrivals of 21% to 1,805 persons.
The decline in South Asian arrivals partly reflects the absence of Bohra community visitors this year, with visitor numbers from India, the country’s largest tourist generating market in 2008 (19% of total arrivals), being down 63%, according to official figures.
Around 242 hotels and resorts are registered under the tourist board of which 26% is classified under the board’s star categorization while 40% of the country’s hotels are positioned on the southern coastal belt. Only 33 hotels are listed.

Source sundaytimes