Daily Trade Journal - 23.05.2013

7/30/2019 Daily Trade Journal - 23.05.2013

1/7

p

p

Today's Turnover (LKR mn)

Annual Average Daily Turnover (LKR mn)

Volume (mn)

Annual Average Daily Volume (mn)

Market Capitalization (LKR bn)

Net Foreign Inflow / (Outflow) [LKR mn]

- Foreign Buying (LKR mn)

- Foreign Selling (LKR mn)

YTD Net Foreign Inflow / (Outflow) [LKR bn]

YTD Performance

S&P SL 20 Index

40.6

218.8

12.9

257.4

38.6

Thursday, May 23, 2013

890.6

% ChangePoint ChangeToday

20.3

556.0

0.42 %

0.06 %

2,491.7

ASPI

S&P SL 20 Index

+ 27.23

+ 2.06

6,488.85

3,666.04

ASPI 15.0%

18.8%

Level 23, East Tower, World Trade Centre,

Colombo 01

Tel: +94 11 727 7000,

Fax: +94 11 727 7099

Email: [email protected]

CSE Diary for 23.05.2013ASPI highest since 13 th Oct 2011: The bourse renewed

its previous high for the year as it surged passed the

6500 psychological barrier towards midday but could

not sustain the momentum as it dipped to close with

a gain of 27 points at 6488 the highest closing point

for the year and highest since 13th Oct 2011. The

shortened trading session resulted in lower turnover

and activity while Ceylon Tobacco was identified the

only major contributor to the index.UML leads turnover with single crossing: United Motors

recorded the sole crossing for the day of 1.5mn shares

at LKR115.0 (52-wek high off-board price) taking it to

the No.1 spot of the top turnover list while its on-board

activity was limited. Interest in Overseas Reality further

improved as the counter reached a 52-week high

price of LKR20.0 while closing slightly below at

LKR19.8. Buying sustained in Chevron Lubricants,

Laugfs Gas [Voting] and [NonVoting] while the formerreached a highest ever price of LKR310 while

recording a mid-sized block of 57k.

Heavy interest in selected beverage sector counters:

Strong interest that prevailed in the past few days in

the beverage sector counters Distilleries and Ceylon

Tobacco prevailed today as well as both counters

reached their highest ever closing prices of LKR199.9

and LKR951.5. The former registered a 100k block at

LKR200.0 as both counters gained 1.9% and 4.6%

respectively.Short day brings down retail interest: Retail interest

continued to remain low in line with the turnover

levels, however considerable retail interest was noted

in Overseas Reality, Laugfs Gas and Vallibel One.

Bourse crosses 6,500, butcloses marginally below


2/7

Statistical Look Up

Treasury Bill (%) 23.05.2013

8.75

9.90

10.86

13.12

Inflation (%) Apr-13 6.4

8.8

All Share Price Index p

S&P SL20 Index p

Turnover (LKR mn)

Turnover (USD mn)Volume (mn shares)

Traded Entities

Market Capitalization (LKR bn)

Foreign Purchases (LKR mn)

Foreign Sales (LKR mn)

Net Foreign Inflow (LKR mn)

Market PER (X)

Market PBV (X)

Market Dividend Yield

SECTOR INDICES

Banks, Finance & Insurance q

Beverage, Food & Tobacco p

Construction & Engineering q

Diversified q

Healthcare q

Hotels & Travels p

Land & Property p

Manufacturing p

Plantation p

Telecom p

4.14%

2.3

1,190.2

85.1

14,253.6

% Change

0.42%2.4

-29.06%

17.5

0.52%

3.18%

0.47%

5.93%

% WoW

ChangeLast Week

3.46%

-79.81%

-96.75%

157.16%

1,275.3

2,481.3

20.5

-70.44%

-70.44%

% WoW

ChangeLast Week

1,881.2

14.9

0.95%

9.76%

0.42%

Today

218.8

2.4

38.6

17.6

6,488.9

0.06%

2,491.7

2.1

257.4

-27.43%

-27.43%-0.98%

-5.24%

4.420.3

235

3,666.0

766.2

6.1

248

556.0

0.42%

-27.77%

-19.47%

Week ending

-2.26%

-65.43%

-6.75%

3.21%

3.81%

3.21%

252

2,414.2

6,287.0

3,531.4

58.6

3.29%

0.00%

356.4

48.0

308.4

Change %

6,461.6

3,664.0

2.1

0.42% 17.0

Pre Day

14,085.7

18,903.9

2,164.9

3,595.2

640.2

1.22%

2,968.3

2,095.5

-0.24%

2.12%

-1.05%

-0.13%

2,931.8

17,588.9

611.7

175.3 174.40.00%175.3

2.1

3,178.9

19,305.4

2,901.1

2,162.1

14,219.8

Pre Day

0.00%

3 months

6 months

12 months

YoY Change

Annual Avg

AWPLR

Excess Liquidity (LKR 'bn) as at 22.05.2013

Today

-4.51

713.2 716.4 -0.45% 713.6 -0.05%

830.9 825.9 0.60% 830.7 0.03%

3,052.6

3,622.0

1.21%

3,639.2

648.0

0.36%3,167.4

5400

5600

5800

6000

6200

6400

6600

Index

ASPI

3100

3200

3300

3400

3500

3600

3700

Index

S&P SL20

0.0

50.0

100.0

150.0

0

1,000

2,000

3,000

4,000

5,000

Volume('mn)

TurnoverLKR('mn)

Turnover Volume

Softlogic Equity Research Page | 2.


3/7

High Index Calibre USD350 Mn

Price Gainers Price Losers

Top 05 Performers for the Day

UNITED MOTORS

OVERSEAS REALTY

CHEVRON

DISTILLERIES

CEYLON TOBACCO

Most Active

Close

293.80

951.50

293.00

990.00

170.00

138.10

716.80

9.70

Volume (mn)

3.0%

Turnover

(LKR)

2.6%

173,281,628

36,329,004

14,996,941

74,284,786

64,092,467

1.51

3.76

0.02

7.0% 173,281,628

74,284,786

3.0%

300.30

199.90

951.50

BLUE DIAMONDS[NON VOTING] 1.50

PANASIAN POWER 2.60

% Change

UNITED MOTORS

PC HOUSE 3.40

2.15

3.76

2.39

3.40

0.00%19.80

0.21

0.180.00%

1.05

0.00%

0.00%

0.00%

1.5%

0.6%

0.3%

Contribution to

Total T/O

3,581,976

0.00%

115.00

6,378,875

3,219,863

2.46

MORISONS [X]

ON'ALLY

Pre Day

0.00%115.00 7.0%1.51

Volume (mn)% Change

7.97%

+ 3.30 10.96%

115.00

CompanyContribution to

Total T/O

148.00

0.1%

0.1%

Turnover

(LKR)

176.40

7.53

1.42

123.50

62.00

175.00

43.00

3,057.35

73.90

224.80

170.00

43.10

715.00

73.50

81.10

32.40

TodayCompany

176.50

CEYLON LEATHER

53.50

24.21

0.2329.48

0.27

171.27

951.17

5.35

Today

7.69%

Turnover

USD ('000)

49.0011.50%

Intraday

Low (LKR)

Turnover

LKR ('000)

2,098.58

675.07

16.62

1.36

900.00

9,662.86

Intraday

High (LKR)

295.00

0.78

148.00

224.00

135.00

196.20

43.80

9.70

% Change

JOHN KEELLS HOLDINGS 32,901

SAMPATH BANK

ASIAN HOTELS & PROPERTIES 400

1.6%

30463

15,897

10.1%

7.2%CEYLON TOBACCO

CARSON CUMBERBATCHNESTLE LANKA

SRI LANKA TELECOM

COMMERCIAL BANK [V]

3.5%

2.9%BUKIT DARAH

DIALOG AXIATA

HNB [V]

DFCC BANK

CARGILLS

118.75

2,002.00

125.00

98.29

5.43

LOLC

AITKEN SPENCE 138.80

2.4% 287.66

685.38

170.00

136.75127.72

1.081.01

445.00

720.00

9.80

2,037.50

123.90

449.902,040.00

34.00

36,329.00

3.9%

2.3%

1.2%

238

98,053

200

711

4.4%

201.00

63.00

3.2%

199.90

62.70

445.00

3.1%

19.80

0.00%

1.5%

2.2%

Change

- 5.10

- 4.50

- 6.70

- 2.50

% Change

226.00

199.90

951.50

300.30

EQUITY ONE

+ 12.60

TEA SMALLHOLDER

73.70

148.00

Volume

76.51

0.00%

0.00%

16,925

310.80

179.76

16,072 14,996.94

1.3%

Change

289.90

Company% of

Mkt Cap

115.00

Today Pre Day

19.80

2.60

1.50

+ 29.90

DISTILLERIES

2,100

13,618

OVERSEAS REALTY 19.80

Company

181,823

10,840

1,027

SOFTLOGIC FIN

MORISONS

Company Today

1.6%

BIMPUTH FINANCE

LAKE HOUSE PRIN. 112.90 + 12.50 12.45% S M B LEASING 0.90 - 0.10 -10.00%

-7.16%

-7.63%

-9.43%

-7.76%

26.60

170.70

33.40

+ 1.90



4/7

Currency Board Announcements

Local - Indicative Rate against LKR Dividends

Dollar Hemas Holdings PLC

Yuan CIC Holdings PLC

Euro 0

Rupee 0

Yen 0

Ringgit 0

Rouble 0

Riyal 0

Dollar Rights Issues / Scrip Dividend / Sub division / Capitalization

Franc Company

Baht Chemanex PLC

Pound Watawala Plantations PLC

Dollar 0Source: www.cbsl.gov.lk

Global Markets

q

q

q

q

q

q

* Time is as at ET Source: www.bloomberg.com

Commodit Markets

Crude Oil (Brent) q

Crude Oil (WTI) q

ICE Cotton #2 q

CBOT Wheat p

COMEX Gold p

COMEX Silver q

COMEX Copper q

* Time is as at ET Source: www.bloomberg.com

00-Jan-00

09-07-2013

10-07-2013

15-07-2013

00-Jan-00

Description

0.00

0.00

Scrip Dividend 02-07-2013

0

XR Date

00-Jan-00

00-Jan-00

00-Jan-0000-Jan-00

Renunciation

00-Jan-00

0.00

Time*

USd/bu.

83.40

Price

101.59

93.19

USD/bbl.

99.68

AGRICULTURE

Hong Kong Hang Seng Index

Nikkei 225

ASIA

FTSE 100 Index

EU

189.78

0.45

1.00 02-07-2013

01-07-2013

126.29

0.0033.68

Malaysia

4.02

121.67

20.58

2.27

1.22

41.62

India

Currency

162.16

Indicative Rate

23.05.2013

China

Scrip Dividend

Payment DateDPS (LKR) XD Date

6,734.3

Singapore

Switzerland

Thailand

UK

-1.01

-530.8

0.5

2,783.1

129.00

05-07-2013

1/0/1900

4.22

USA

02:28

-106.0

1/0/1900

Change

-1.83%

-1,143.3

03:32

0.25

00-Jan-00

1/0/1900

10-07-2013

03:15

03:16

-1.55%

03:15

Company

03:36

03:15

03:16

0-Jan

0-Jan

03:32

03:32

Time*

03:16

-2.62%

Change %

0.84%

-1.03%

-0.98%

-1.16%

-7.32%

-2.28%

0.56%

-13.8

Change

-0.02%-0.02

0

-1.09

Change %

329.20

USD/t oz.

USD/t oz. -0.23

694.25

-8.85

22.24

Index

Dow Jones Industrial Average

S&P 500 Index

EUROPE

EURO STOXX 50 Price EUR

14,484.0

Value

15,307.2

1,655.4

USD/bbl.

USd/lb.

USd/lb.

AMERICA

5.75

METALS

ENERGY

Commodity

22,730.3

Units

0

-51.9

Proportion

00-Jan-00

00-Jan-00

0.00

0.00

-0.52%

-0.83%

-80.4

Russia

Saudi Arabia

Japan

1,375.00 7.60

Australia



5/7

Softlogic Equity Research Page | 5

CSE Announcements

Hemas Holdings [HHL: LKR35.2]: New Employee Share Purchase Scheme2013.

The total number of new shares proposed to be issued by the Companyunder this scheme is 10,000,000 ordinary shares

The share under this scheme will be offered to the eligible employees ata 15% discount on the Volume Weighted Average price of the shares of the

Company taking into consideration all share transactions of the Company during

the thirty 30 market days immediately preceding the grant date.

The Stated Capital of the Company as at date is LKR1,600,603,000 represented by 515,290,620 Ordinaryshares.

The issue of shares under the proposed Employee Share Purchase Scheme is in compliance with the Listing Rules of

the CSE and is subject to the Exchange approving, in principle the issue and listing of shares issued pursuant to such

scheme and obtaining shareholder approval, by way of a Special Resolution at an Extraordinary General Meeting.

CIC Holdings [CIC: LKR70.0, CIC.X: LKR52.0]:Related Party Transaction

Dealings by Directors:

Local News Sri Lanka to re-start refinery on May 24 th: Sri Lanka will re-start its 50,000 barrels per day refinery on May

24, after getting a stock of Omani light crude, petroleum minister Anura Yapa said. The refinery has been hit

by US sanctions prevented Sri Lanka from importing light crude oil from Iran. The refinery has been built and

fine-tuned to operate on Iranian light and Sri Lanka was struggling to find suitable feedstock for the refinery.

"We are testing many types of crude,"Yapa told reporters Wednesday. "But an Omani blend was the best we

could find. But the yield (of light distillates) is still low compared to Iranian light," he said. He said officials

were now testing Nigerian and other crudes to find if they could be used. The refinery was closed earlier this

month after a stock of crude was delayed. Yapa said the shipper had said they were having engine troubled

and could not deliver the stock in time. Yapa also emphasised that since the Sapugaskanda oil refinery had

limited capacity of 50,000 barrels, it needed an upgrade. Yet he also backed plans by the Government to

build a new refinery, saying both measures were needed to meet demand. Moving on to speculation that

the Government would buy back the Trincomalee tank farm from IOC, Yapa stressed that there were no such

moves but that they would work with IOCto ensure optimum use would be made of the facility.

[Source: www.lbo.lk, www.ft.lk]

Cabinet nod for USD800 mn loans: Cabinet approval has been given for nearly USD800 mn worth of projectsto continue the Governments infrastructure development. Acting Cabinet Spokes-man and Petroleum Mini-

ster Anura Priyadarshana Yapa told media that a Memorandum of Understanding would be signed between

the Government and China Development Bank Corporation for USD580 mn to continue infrastructure

Company Name Relationship Transaction Quantity Price(LKR)

Date

Colombo Land & Development [CLND: LKR51.1] Mr. M. U. M Ali Sabry Director Sale 141,921 51.1 22.05.2013

The Li ghthouse Hote l [LHL: LKR48.6] etwi ng Hote ls Management Serv ices ( Pvt) Ltd Common Di rectors Purchase 116,571 48. 9- 50. 0 22. 05.2013

Cargills [CARG: LKR176.4] Anthony A. Page Director Sale 500,000 180.0 22.05.2013

Date of Transaction 01/04/2012-31/03/2013

Name of Related Party Paints & General Industries Ltd

Relationship Major Shareholder of CIC Holdings ( holds 53.31% of Ordinary shares)

Amount Invoiced LKR556.51 mn

Receivable Balance as at end of 31/03/2013 LKR166.51 mn

Terms of Transaction In the normal course of business

Latex constitutes a major raw material for paint manufacture.

CIC supplies latex to Paints & General Industries on credit terms.Rationale for entering into the transaction


6/7


projects in 2013. The Cabinet paper, which was presented by President Mahinda Rajapaksa, outlined that

the MoU would be valid for three years and would be used to finance three key projects by the Government.

Road development worth USD300 mn, water supply projects up to USD200 mn and a National School of

Business Management project using up USD80 mn were listed as the main funnelling points for the cash. In

addition Cabinet approved two agreements with the World Bank worth USD205 mn to improve provincial

roads.USD105 mn has been allocated to rehabilitate Hulandawa-Kahambana Road in the Uva province. The

distance of 14.5 km will be built by Consulting Engineers and Contractors for an amount of LKR742 mn.[Source: www.ft.lk]

Emirates to increase flights from Colombo next month: Emirates will increase capacity on its services toColombo from 30 June 2013, with the addition of three more flights per week, the airline announced

yesterday. The addition of three more services, which will operate between Dubai and Colombo on

Mondays, Thursdays and Sundays, will increase the number of flights between the two cities to four each

day on those days, and take the total number of weekly Emirates flights serving Colombo to 31. The

additional Colombo-Dubai flight EK 655 will depart Colombo at 1410hrs and arrive in Dubai at 1655 hrs. The

returning Dubai-Colombo flight EK 654 will depart Dubai at 0645 hrs and arrive in Colombo at 1245 hrs. The

increase in capacity to Colombo demonstrates Emirates continuing commitment to the destination, said

Chandana de Silva, Emirates Area Manager for Sri Lanka and Maldives. [Source: www.ft.lk]

HNBs first Green Bank building in Northern Province: Hatton National Bank [HNB: LKR170.0, HNB.X:LKR125.2] recently opened a state-of-the-art green bank building in Jaffna. This is the first green bank

building to be opened in the Northern Region and is the second such building built by HNB. The bank is the

first Sri Lankan bank to open a green bank building in Nittambuwa in 2011. The new five-story building in

Jaffna is an environmentally friendly design and construction maximising resource efficiency throughout its

life cycle. The building is equipped with systems for solar power usage for lighting, rain water harvesting

systems with treated waste water usage for landscaping, vertical landscaping systems to minimise glare and

an automated louvre system, to minimise glare, sunlight and heat along with an intelligent air conditioning

system. The building also has an advance BMS (Building Management System) through which the energy

efficiency is monitored at a central point.

[Source: www.ft.lk]

SL banking sector stable due to being strongly capitalized: Sri Lankas banking and financial sectors werestable because they were strongly capitalized, having ample funds for lending and helping the sector to

perform well during the recent past, Chief Executive Officer - Multi Finance [MFL :LKR27.2] Ajith Perera

said. It was quite visible that our banking and financial sectors were strong due to the prudent risk

management system that was in place than any other sector in the country. Therefore, most banks and

financial institutes have performed well during the recent past, he said. He said that despite all challenges

they were able to survive in the business by going for different strategies to tap the untapped markets in the

business. At present, the companys co businesses are leasing, higher purchasing, short to medium term

lending, micro financing and trade financing, he said. Due to our prudent risk management system, we were

able to survive highly regularized businesses in the country, which focuses on satisfying the customer

exceptionally,Perera said.

[Source: www.dailynews.lk]

Global News IMF: UK 'long way from recovery': The UK economy is still a long way from "a strong and sustainable

recovery", the International Monetary Fund (IMF) has warned. In its concluding statement on its mission to

the UK, the IMF said austerity measures were acting as a drag on the economy. The government could do

more to offset the negative impact of austerity with infrastructure spending, it said. George Osborne said

the UK would not "duck its economic challenges". The IMF acknowledged that the UK's austerity programme

had earned the government international credibility. But speaking at a press conference in London, its

deputy managing director, David Lipton, said the view of the IMF was that the UK should consider slowing


7/7


the pace of cuts. "It would be, in our view, useful for the economy for infrastructure and other measures to be

brought forward to reduce the drag of austerity measures and provide more support for the economy,"he

said.

[Source: www.bbc.co.uk]

Singapores Expansion Reduces Pressure to Ease Policy: Singapores economy unexpectedly expanded lastquarter as services and construction strengthened, reducing pressure on the central bank to ease monetarypolicy to boost growth. Gross Domestic Product rose an annualized 1.8% in the three months through March

from the previous quarter, when it grew 3.3%, the Trade Ministry said in a statement today, revising an

earlier estimate for a 1.4% contraction last quarter. The median in a Bloomberg News survey was for a 1.2%

decline. Theres very little slack in most Asian economies so as the recovery starts to take hold during the

second half of the year, this slack would very quickly evaporate and that would begin to build up underlying

inflation pressures,said Leif Eskesen, chief economist for India and Southeast Asia at HSBC Holdings Plc in

Singapore. We do expect some central bank action on that front.

[Source: www.bloomberg.com]

Documents

Daily Trade Journal - 23.05.2013