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CSE to open second branch office in Kandy

The Colombo Stock Exchange (CSE) will open its second branch office in Kandy on June 4, in keeping with the CSE's strategy to broad-base and strengthen the local investor base.

The branch would act as a regional centre for marketing , to increase the level of awareness at regional level and offer access to the CSE's trading and clearing systems.

Six Stock Brokers including Asia Securities, HNB Stock Brokers, Bartleet Mallory Stock Brokers, DP Global Securities, MMBL Phillip Securities and SC Securities will offer a range service through the Kandy branch office.

Their services will include order acceptance and online order execution, investment advice, pre-trade and post-trade documentation and research and other related stock broker services.

The first branch of the CSE opened in Matara in 1999 providing an important access point to investors in the Southern Province.

Bourse on upward trend

The Colombo Bourse continued its upward trend with the ASPI jumping to 848.2 points from 840 the previous day and the Milanka index reaching 1,501.9 points from 1,486.6. The market recorded a turnover of Rs. 259.6 million buoyed by a parcel of 2.03 million shares of JKH changing hands. It was believed to have been purchased by investor Raj Rajaratnam.

Among the other major stocks which had active sales were Bata, Distilleries, NDB Bank, Royal Ceramics and Telecom.

The top five gainers included Sathosa Motors, Asha Central, Sigiriya Village, Blue Diamonds and Bata. Royal Ceramics announced a 10 percent interim dividend.

Repositioning Sri Lanka

"Repositioning Sri Lanka Globally" - the 25 th CIMA National Conference to be launched at 6 pm today at the BMICH is expected to improve Lanka's image as a financial management hub. Many internationally renowned speakers will be presenting papers at this conference.

Commerce and Consumer Affairs Minister Ravi Karunanayake and Chairman/Director General, Board of Investment, Arjunna Mahendran will be present. Technical sessions comprising four papers and discussions will be held at the Colombo Plaza on May 30.

The CIMA Sri Lanka Division will also present the 'Business Leader of the Year Award' during this event. A Founder Chairman of a leading hotel chain and a well-known accountancy profession is tipped to be named as the business leader at the inaugural awards ceremony, as chosen by an independent panel of judges.

'Reviving Lankan Economy'

The annual sessions of the Sri Lanka Economic Association (SLEA) will be held on May 31 from 8.30 a.m. to 3 p.m. at the BMICH.

The theme for the sessions will be "Reviving the Sri Lankan Economy" and the chief guest will be Minister of Human Resource Development, Education and Cultural Affairs, Karunasena Kodituwakku, while the guest of honour will be BOI Chairman Arjunna Mahendran. SLEA president Dr. Saman Kelegama will chair the inaugural sessions.

The session on Foreign Aid and Economic Progress will be chaired by Prof. A. D. V. de S. Indraratne.

The speakers are World Bank Country Director, Peter Harrold (issues on foreign aid in economic development) and IMF Senior Resident Representative, Jeremy Carter (macroeconomic issues and challenges).

The session on Infrastructure Development will be chaired by Dr. H. N. S. Karunatilake and ADB Country Director, John Cooney (impediments to infrastructure development projects) and Sri Jayawardenapura University, Senior Lecturer, Department of Economics, Dr. Upali Wickremasinghe (reviving the energy sector).

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