weekly plus - 2013 issue 02 (11.01.2013)
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7/30/2019 Weekly Plus - 2013 Issue 02 (11.01.2013)
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2013 Issue 02 Week Ending 11-01-2013
Weekly Market Wrap UpStat Page Pg 02
Weekly Stock Trends Pg 03
Week in BriefBourse takes a breather whilst large deals in S&P calibre countersextend
Pg 03
S&P SL20 Watch Pg 04
Local Economy in BriefCurrency Moves Pg 05
Inflation & Interest Rates Pg 06
Colombo Tea Auction Pg 06
Tourism Pg 06
Global MarketEquity Market Outlook Pg 07
Global Commodity Trend Pg 08
Research Chat:Lanka Milk Foods [LMF: LKR108.0] Pg 09
Our Core Coverage Pg 10 Pg 11
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Current WoW %
ASPI 5746.49 0.0%
S&P SL20 3133.87 0.4%
Turnover (LKR 'bn) 3,795.6 2.1%
Volume ('mn) 102.8 -27.5%
Market Cap. (LKR 'bn) 2,207.4 0.0%
LKR ('mn) Current WoW %
Foreign Purchases 1,749.4 -29.0%
Foreign Sales 1,865.2 -9.5%
Net Foreign Inflow -115.9 -128.8%
Foreign Participation 31% -11.2%
Net Foreign 1,191 -116
Current WoW %
PER 16.3 0.2%
PBV 2.1 -0.2%
DY 2.3 0.0%
Current WoW %
BANKS FINANCE & INS. 12,174.2 1.0%
BEV. FOOD & TOBACCO 15,675.1 1.8%
CHEM. & PHARMA. 7,167.8 3.4%
CONS. & ENG. 2,610.9 1.2%
DIVERSIFIED 1,821.1 1.4%
HEALTH CARE 582.1 1.1%
HOTELS & TRAVELS 3,554.3 1.7%
JKH 507.5 0.5% ASIRI CENTRAL -92.97% LAND & PROPERTY 506.0 3.2%
LOLC 78.1 0.90% DIALOG (+) -0.18% MANUFACTURING 2,606.0 1.2%
ASIRI 46.8 1.41% CEYLON TOBACCO (+) -0.03% MOTORS 15,430.7 2.5%
DISTILLERIES 30.6 0.29% AITKEN SPENCE -0.17% PLANTATIONS 808.2 0.9%
CHEVRON (+) 21.4 0.29% AHOT PROPERTIES -1.19% TELECOM 163.5 1.3%
742
490.4
Weekly Stat Page
Previous
Weekly Market Statistics
Weekly Foreign Flow
Weekly Market Valuations
Weekly Sector Statistics
Decline in
Foreign
Holding 3,493.7
2,576.4
15,058.4
Previous
5747.71
800.8
161.4
Change in Foreign Holding
Decline in
Value
LKR 'mn
Decline in Foreign Holding
Growth in
Foreign
Holding
Growth in
Value
LKR 'mn
Growth in Foreign Holding
2,580.3
1,796.8
575.6
6,934.3
3121.71
3,719.2
16.2
2.1
2.3
Previous
12,051.5
15,397.6
401.8
35%
2,462.9
2,061.1
141.8
2,207.8
Previous
-558.2
-107.3
-41.1
-38.6
-25.2
402
5,200
5,300
5,400
5,500
5,600
5,700
5,800
Daily Index Movement
ASPI
0
50
100
150
0
1,000
2,000
3,000
4,000
5,000
6,000
21-Dec 28-Dec 4-Jan 11-Jan
('Mn
)LKR('Mn)
Weekly Turnover and Volume
Turnover (LHS) Volume (RHS)
0
500
1,000
1,500
2,0002,500
3,000
21-Dec 28-Dec 4-Jan 11-Jan
LKR('Mn)
Weekly Foreign Purchases and Sales
Foreign Buying Foreign Sales
0%
20%
40%
60%
80%
100%
Daily Foreign Activity
Fo re ign A ctivity Line ar (Foreign Activity)
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Company Current Previous WoW % Volume
CIT 164.20 120.00 36.83% 43
AMF CO LTD 424.00 350.00 21.14% 2
CEYLON BEVERAGE 479.60 400.00 19.90% 144
HAYLEYS FIBRE 33.90 29.00 16.90% 62,674MERC. SHIPPING 197.00 170.50 15.54% 350
Company Current Previous WoW % Volume
RENUKA SHAW[NON VOT 15.00 29.30 -48.81% 14,792
RENUKA SHAW 19.00 36.30 -47.66% 90,656
S M B LEASING[NON VOTI 0.40 0.50 -20.00% 1,570,114
INDO MALAY 1,300.00 1,550.00 -16.13% 74
PALM GARDEN HOTL 130.80 155.00 -15.61% 4,698
Company Current Previous WoW % Volume
JKH 223.00 219.90 1.41% 2,828,913
ASIRI CENTRAL 248.10 226.00 9.78% 2,250,637
COMMERCIAL BANK 105.00 104.90 0.10% 4,857,673
HNB 147.00 148.50 -1.01% 2,066,826
DISTILLERIES 180.20 168.90 6.69% 1,674,488
Company Current Previous WoW % Volume
PANASIAN POWER 3.00 2.90 3.45% 11,003,254
ASIRI 11.50 11.00 4.55% 5,375,858
COMMERCIAL BANK 105.00 104.90 0.10% 4,857,673
FREE LANKA 2.60 2.70 -3.70% 4,799,186
JKH 223.00 219.90 1.41% 2,828,913 631,939,832
222,206
1,724,743
633,168
Weekly Top Losers
Weekly Top Performers
Weekly Top Volume
69,290
613,257
Turnover
631,939,832
Turnover
96,500
562,656,519
508,457,282
302,206,066
297,752,594
Turnover
32,428,025
61,303,206
508,457,282
12,460,744
Weekly Stock Trends
Turnover
5,413
848
Week in Brief
64,359
2,054,682
Weekly Top GainersBourse takes a breather whilst large deals in S&P calibre
counters extend'
The trading week commenced with both indices stagnated depicting the bourse taking a breather after having gained 231
points over the past two weeks. Steady play was centered upon S&P calibre counters as focus on fundamental play gathered
further momentum leading to a number of crossings which contributed 27% to the weekly turnover coupled with large on-
board blocks throughout the week. The index touched 5,767.24 points at its peak before closing broadly flat with 5,746.49
points (-1.2 points WoW). Foreigners ended the week as net sellers with a net outflow of LKR115 mn, after 6 consecutive
weeks of net inflows.
S&P SL20 index in brief; The S&P SL20 index moved on a broadly flat note however secured a gain of 12 points WoW before
it settled at 3,133.87 points. S&P calibre players accounted for majority of the contribution to the weeks trading. Notable
positive contributions stemmed from Distilleries(+6.7% WoW), Chevron Lubricants (+4.7% WoW), CT Holdings (+3.8% WoW)
and Sri Lanka Telecom (+2.3% WoW) outweighed the losses made in Hayleys (-4.8% WoW) and Aitken Spence Hotel
Holdings (-2.1% WoW) and Cargills (-2.0% WoW).
John Keells Holdings spearheaded the weekly turnover: John Keells Holdings gathered investor participation with a
contribution of LK631.9 mn to the weeks turnover. Further, unrelenting interest in Commercial Bank and Distilleries led to
both counters highlighting their presence in the top turnover slot consistently. Lanka Orix Leasing Company encountered
renewed interest with a number of large blocks having traded in the counter while the hospital sector players gathered some
activity backed by off-market deals. Dialog Axiata regained momentum solely backed by a significant number of large on-
board blocks.
21 crossings contributed 45% to the weeks turnover: Majority of the crossings encountered were S&P calibre players as
John Keells Holdings recorded 4 crossings, Hatton National bank added 3 crossings, Commercial Bank recorded 5 crossings,
Distilleries recorded 2 crossings, Nestle Lanka, Aitken Spence and Sampath Bank recorded 1 crossing each while Hospital
Sector players Asiri Central Hospitals, Asiri Hospital Holdings and Asiri Surgical Hospital recorded one crossing each.
Large on-board trades: The presence of large trades in the market extended. The following counters recorded several large
on-board deals; John Keells Holdings, Dialog Axiata, Softlogic Holdings, Lanka IOC, Free Lanka Capital Holdings, Commercial
Bank of Ceylon, Aitken Spence, Distilleries, Panasian Power, Asian Hotels and Properties, Lanka Orix Leasing Company and
Asiri Hospital Holdings.
Retail Participation: Retail activity was relatively subdued as large deals took center stage with greater high net worth and
institutional participation. A few counters saw significant retail participation; Free Lanka Capital Holdings, Panasian Power
and Blue Diamond [Non-Voting].
New 52-week peaks in a number of counters: Among the counters which traded at new 52-week peaks are; Distilleries
(LKR180.5),Nestle Lanka(LKR1669.0),Ceylon Tobacco Company(LKR859.0), Peoples Finance (LKR37.6), Chevron Lubricants
(LKR200.0), Lanka Milk Foods (LKR108.0), Ceylon Beverage Holdings (LKR500.0), Ceylon Cold Stores (LKR134.7.) and Ceylon
Hospitals (LKR104.5).
A net outflow of LKR115 mn after 6 straight weeks of gains: Foreign participation weighed heavier on the selling side as
foreign purchases of LKR1.7 bn was recorded against foreign sales of LKR1.8 bn resulting in a net foreign outflow of LKR115
mn for the week, after 6 consecutive weeks of steady foreign buying. Among the counters which encountered significant
foreign interest were; John Keells Holdings, Lanka Orix Leasing Company, Asiri Hospital Holdings, Distilleries, Chevron
Lubricants, Commercial Bank, Laugfs Gas [Non-Voting] and Expo Lanka Holdings.
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DIVIDENDS
RIGHTS ISSUE
Pelwatte Sugar
###
S&P SL20 Companies Current Previous WoW % ###
JOHN KEELLS HOLDINGS 223.00 219.90 1.41% ###
COMMERCIAL BANK 105.00 104.90 0.10% ###THE BUKIT DARAH 685.20 697.00 -1.69% SCRIP DIVIDEND
HATTON NATIONAL BANK 147.00 148.50 -1.01%
CARSONS CUMBERBATCH 439.40 440.00 -0.14%
SAMPATH BANK 203.30 201.00 1.14%
CEYLON TOBACCO COMPANY 852.00 859.00 -0.81%
DFCC BANK 118.40 117.90 0.42% CAPITALIZATION OF RESERVES
AITKEN SPENCE 121.90 120.00 1.58%
NATIONAL DEVELOPMENT BANK 140.40 140.90 -0.35%
C T HOLDINGS 134.60 129.70 3.78%
DISTILLERIES 180.20 168.90 6.69%HAYLEYS 299.90 315.00 -4.79% SUBDIVISION OF SHARES
CHEVRON LUBRICANTS LANKA 215.10 205.40 4.72%
DIALOG AXIATA 8.30 8.20 1.22%
CARGILLS (CEYLON) 147.00 150.00 -2.00%
AITKEN SPENCE HOTEL HOLDINGS 73.40 75.00 -2.13% CONSOLIDATION OF SHARES
NESTLE LANKA 1,600.00 1,597.60 0.15%
ASIAN HOTELS & PROPERTIES 74.50 75.90 -1.84%
SRI LANKA TELECOM 44.90 43.90 2.28%
88,735,541
21,975,299
64,753,417
16,544,983
44,939,002
122,462,962
518,103
933,106
53,020,802
26,385,677
4,506,158
0-Jan-1900 0-Jan-1900
0-Jan-1900
0 0
0-Jan-1900 0 0
19,532,033
0-Jan-1900
0-Jan-1900 0-Jan-1900
297,752,594
0-Jan-1900 0-Jan-1900 0-Jan-1900 0-Jan-1900
Company Proportion EGM Date Trading Date
Colonial Motors
XD DateEGM DateProportionCompany
0-Jan-1900
0-Jan-1900
S & P SL20 Debrief
302,206,066
6,530,851
67,298,381
60,063,197
0-Jan-1900 0-Jan-1900 0-Jan-19000-Jan-1900
0-Jan-1900
0-Jan-1900
0
01 for 04 @ LKR18.0
0
0Turnover
631,939,832
Company Proportion
Announcements
Company Dividend (LKR)
00-01-1900
00-01-1900
00-01-1900
00-01-1900
4.30
0-Jan-1900
0-Jan-1900
508,457,2822,527,642
Delayed
XD Date
0-Jan-1900
0-Jan-1900
0.00
0.00
0
0-Jan-1900
Ceylon Tobacco Company PLC
0-Jan-1900
0-Jan-1900
09-01-2013
00-01-1900
00-01-1900
21-01-2013
00-01-1900
00-01-1900
Payment
0-Jan-19000-Jan-1900
0-Jan-1900
EGM Date Trading Date
00-01-1900
00-01-1900
00-01-1900
0-Jan-1900 0-Jan-1900
Company Proportion EGM Date XC Date
0-Jan-19000-Jan-1900
07:10 14-12-2012
0-Jan-1900
0-Jan-1900
0
0
18-02-2013
Company Proportion
0
00-01-1900
Delayed
0
00-01-1900
0.00
0.00
0.00
0.00
0.00
00
0
0
00-01-1900
Renunciation
0
XR Date
0
2,850
2,900
2,950
3,000
3,050
3,100
3,150
Daily Index Movement
S&P SL20
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Local Economy
CURRENCY MOVES
122124
126
128
130
132
LKR USD : LKR
1.30
1.40
1.50
1.60
1.70
LKR Japanese Yen : LKR
162164
166
168
170
172
LKR EURO : LKR
100101102103104105
106107108LKR Singapore Dollar : LKR
200202
204
206
208
210
212
LKR GBP : LKR
2.20
2.25
2.30
2.35
2.40
2.45LKR Indian Rupee : LKR
"The emerging high-beta sovereigns of Sri Lanka are expected to underperform over the next 6-12 months, said a
leading global banking group, while maintaining a stableoutlook on most Asian sovereigns, adding thatpositive
rating momentum however has largely subsided. We maintain a cautious view on these sovereigns and
recommend an Underweightposition in them, as we expect the fundamental backdrop to remain trying over the
next 6 to 12months,stated Standard Chartered Bank (SCB), releasing its Credit Alert in January.
Page | 5
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BALANCE OF TRADE TOURISM
For the Month Ending: Nov-12 For the Month Ending:
Nov-12 Oct-12 MoM % Nov-11 2012 2011
Exports 828 770 7% 886 Nov-12 109,202 90,889
Imports 1,821 1,581 15% 1,986 YTD 883,353 758,458
Balance of Trade -993 -810 -23% -1,100
COLOMBO TEA AUCTION STATISTICS
Sale of Sale of
12-Dec-12 05-Dec-12 WoW %
High Grown 442.82 438.84 0.91%
Mid Grown 403.01 396.37 1.68%
Low Grown 430.86 417.62 3.17%
Total 429.41 418.99 2.49%
COLOMBO RUBBER AUCTION STATISTICS
For the Month Ending: Dec-2012
Nov-12 Dec-12 Basis Points Sale of Sale of
Point to Point 9.5% 9.2% 30 20-Dec-12 11-Dec-12 WoW %
Annual Average Change 7.2% 7.6% -40 RSS 1 382.00 370.00 3.24%
1-Yr T-Bill 12.86% 11.38% 148 Brown Crepe 1X 375.00 340.00 10.29%
YoY %
Change %
375.00
375.00
YoY %
-7%
Elevation
37.34%
30.48%
11.69%
20%
16%
19.94%
0.00%
1.87%
WoW %
-8%
10%
322.43
308.87
385.76
358.02
Local Economy
Elevation
Nov-12
INFLATION & INTEREST RATE
Sale of
04-Dec-12
Corres. 2011
-1,200
-800
-400
0
400
800
1,2001,600
2,000
Balance of Trade
Exports Imports Balance of Trade
20,000
40,000
60,000
80,000
100,000
120,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Tourist Arrivals
2009 2010 2011 2012
2%
4%
6%
8%
10%
12%
14%
Dec-12Oct-12Aug-12Jun-12Apr-12Feb-12Dec-11
Inflation and Treasury Bill Rate
1-Yr T-Bill Point to Point Annual Average Change
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Global Markets
EQUITY MARKET OUTLOOK
The economy does not scream rate cut right now, said James Nixon, chief European economist at Societe
Generale SA (GLE) in London. Draghis medicine is working, the economic outlook has improved, the economy has
bottomed out, so why would you cut?
12,000
12,500
13,000
13,500
14,000
Index Dow Jones Industrial Average
5,400
5,600
5,800
6,000
6,200
Index FTSE 100 Index
1,250
1,300
1,350
1,400
1,450
1,500
Index S&P 500 Index
7,000
8,000
9,000
10,000
11,000Index Nikkei 225
2,300
2,400
2,500
2,600
2,700
2,800Index EURO STOXX 50 Price EUR
19,000
20,000
21,000
22,000
23,000
24,000Index Hong Kong Hang Seng Index
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WTI Crude USD/bbl 93.36 0.6%
Gold USD/t oz. 1,669.20 0.9%Copper USd/lb. 368.05 0.5%
Cotton USd/lb. 75.26 -0.2%
Wheat USd/bu. 745.75 -0.8%
75.43
751.50
Commodity This Week Last WeekWoW
Change
1,654.30366.35
GLOBAL COMMODITY TREND
Global Markets
92.81
80
85
90
95
100
USD/bbl
WTI CRUDE FUTURE
66
68
70
72
74
76
78
USd/lb. COTTON NO.2 FUTURE
1,550
1,600
1,650
1,700
1,750
1,800
USD/t oz.
GOLD 100 OZ FUTURE
0
200
400
600
800
1,000
USd/bu. WHEAT FUTURE(CBT)
320
330
340
350
360
370
380
USd/lb.
COPPER FUTURE
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Softlogic Equity ResearchPage | 9
LMF, incorporated in 1981, is one of Sri Lankas leading dairy producers with core interests in importing, packaging, exporting and selling of full cream, infant and skim milk
powder and other types of milk allied products. Its operating structure comprises of five fully owned subsidiaries Ambewela Livestock Ltd, Ambewela Products, Pattipola
Livestock Ltd, Lanka Dairies (Pvt) Ltd and Danish Dairy Producers (Pvt) Ltd. LMF has established a strong presence in the local milk powder industry and ventured into tap the
liquid milk market supported by its farms.
Product Portfolio:A significant portion of revenue stems from the Powdered Milk segment with a 68% contribution to the FY12 revenue while the liquid milk segment operates ona growth trajectory with the shift in consumer preference from powdered to liquid milk. Revenue grew at a CAGR of 14% FY09- FY12. LMFs portfolio also includes brands such as
Daily, My Juicee, Sun Top and BLU energy drink coupled with production of natural cheeses and yoghurt. Expansions in terms of diversifying into new flavours for existing products
and new product addtions are in the pipeline to enhance revenue streams.
Earnings Snapshot 2QFY13: LMF witnessed a 4% YoY growth in revenue during the quarter while GP margin posted a solid 600 bps YoY growth from 12% to 18%. However bottom
line dipped 33% YoY led by a significant dip in finance income and a surge in finance expenses impacting 1HFY13 results which posted a dip of 27% in bottom line to LKR125.5 mn
despite having sustained a growth in GP margin by 300 bps YoY.
Valuations:
Stake in growth counter; Distilleries (DIST: LKR180.0):LMF holds a 12.65% stake in DIST the leader in Sri Lankas locally
manufactured hard liquor market. Incorporating LMFs stake in DIST at market value, LMFs net assets per share stands atLKR218.3
PER:We expect LMF to report net earnings of LKR233 mn in FY13E (+20% YoY) bringing PER for FY13E earnings to 19.0X.
Distilleries Stake 12.65%
Number of shares of DIST 37,961,500
Price per share as at 11.01.2013 180.0
Total market value of shares as of 11.01.2013 (LKR mn) 6,833
LMF BV with stake in DIST at cost (LKR mn) 2,136
DIST stake at cost (LKR mn) 238
Unrealized Gain in DIST stake 6,595
LMF BV with DIST stake at market value 8,731
Adjusted LMF book value per share 218.3
F/Y March (LKR mn) FY09 FY10 FY11 FY12 FY13E
Revenue (LKR mn) 3,453 3,877 4,285 5,054 5,560
Net Profit (LKR mn) -44 229 43 193 233
EPS (LKR) (1.1) 5.7 1.1 5 5.8
YoY % Growth -117% 617% -81% 344% 21%
PER (x) (98) 19 100 22 19
PEG (X) 83.4 3.1 (122.9) 6.5 89.7
DPS (LKR) 2 1
Dividend Payout 26% 21%
Dividend Yield (%) 1% 1%
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Softlogic Equity ResearchPage | 10
Name Y/E Rec Mkt Price NAVPS P / BV DPS
11-Jan-13 M ar '1 1 M ar '1 2 M ar '1 3E M ar '1 4E M ar '1 1 M ar '1 2 M ar '1 3E M ar '1 4E M ar '1 1 Ma r' 12 M ar '1 3E M ar '1 4E M ar '1 1 M ar '1 2 M ar '1 3E M ar '1 4E M ar '1 2
( 'M n) ( 'Mn ) ( 'M n) D ec '1 0 D ec '1 1 D ec '1 2E De c' 13 E D ec '1 0 D ec '1 1 D ec '1 2E D ec '1 3E D ec '1 0 De c' 11 D ec '1 2E D ec '1 3E D ec '1 0 D ec '1 1 D ec '1 2E D ec '1 3E D ec '1 1
Banking, Finance & Insurance
Central Finance CFIN.N0000 M 176.60 14,739 104.9 18,522 140.53 1.26 1,827 2,675 2,970 17.42 25.51 28.32 75 46 10.1 6.9 6.2 2.5 1.4 18.2
Ceyl inco Insurance CINS.N0000 D 930.00 11,250 26.4 24,565 425.89 2.18 962 1,372 1,465 36.41 51.95 55.47 40 43 25.5 17.9 16.8 6.5 0.7 12.2
Co mm erc i al B a nk CO MB .N00 00 D Buy 105.00 51,185 833.5 87,516 61.41 1. 71 5,508 8,048 9, 658 10,637 9,688 6.61 9.66 1 1. 59 1 2.76 11.62 31 46 20 10 15. 9 10. 9 9.1 8. 2 9. 0 6.0 5.7 15.7
Commercial Bank [X] COMB.X0000 D Buy 93.00 51,185 833.5 77,514 61.41 1.51 5,508 8,048 9,658 10,637 6.61 9.66 11.59 12.76 11.62 31 46 20 10 14.1 9.6 8.0 7.3 8.0 6.0 6.5 15.7
DFCC Bank DFCC.N0000 M MTB 118.40 26,106 265.1 31,388 98.48 1.20 5,090 2,900 3,078 3,453 3,206 19.20 10.94 11.61 13.02 12.09 97 (43) 6 12 6.2 10.8 10.2 9.1 9.8 4.0 3.4 11.1H a tt on Na ti o na l B a nk H NB .N00 00 D Buy 147.00 44,141 397.4 58,416 111.08 1. 32 4,787 6,149 6, 686 7,645 7,171 12.05 1 5.47 1 6. 83 1 9.24 18.05 7 28 9 14 12. 2 9 .5 8.7 7. 6 8. 1 7.5 5.1 13.9
Hatton National Bank [X] HNB.X0000 D Buy 113.00 44,141 397.4 44,905 111.08 1.02 4,787 6,149 6,686 7,645 12.05 15.47 16.83 19.24 18.05 7 28 9 14 9.4 7.3 6.7 5.9 6.3 7.5 6.6 13.9
Lanka Orix Leas ing Company LOLC.N0000 M 60.00 20,609 475.2 28,512 43.37 1.38 3,840 6,379 3,928 8.08 13.42 8.27 109 66 7.4 4.5 7.3 - - 31.0
LB Fi na nce LF IN.N0000 M 150.00 4 ,522 69.3 10,389 65.30 2.30 1,020 1,625 1,931 2,224 1 ,787 14.73 23.46 27.88 32.11 25.80 104 59 19 15 10.2 6 .4 5.4 4.7 5.8 5.0 3.3 35.9
National Development Bank NDB.N0000 D Buy 140.40 18,491 164.2 23,054 112.61 1. 25 2,150 2,706 2, 972 3,409 3,040 13.09 16.48 1 8. 10 2 0.76 18.51 3 26 10 15 10. 7 8 .5 7.8 6. 8 7. 6 7.5 5.3 14.6
N at io ns T ru s t B an k N TB .N 0000 D Buy 59.00 9,586 230.6 13,606 41.57 1.42 1,084 1,534 1,842 2,321 1,824 4.70 6.65 7.99 1 0.07 7.91 58 41 20 26 12.5 8.9 7.4 5.9 7.5 2.1 3.6 16.0
Pan Asia Bank PABC.N0000 D 18.60 3,865 295.0 5,488 13.10 1.42 362 824 761 1.23 2.79 2.58 (7) 128 15.2 6.7 7.2 1.0 5.4 21.3
Pe op le 's Le as in g PLC.N 0000 M Buy 1 4.30 19 ,1 28 1 ,5 60 .0 2 2,30 8 12 .2 6 1.17 2 ,6 05 4 ,5 03 3 ,2 53 3 ,8 84 3 ,4 91 1 .6 7 2 .8 9 2 .0 9 2 .4 9 2 .2 4 1 26 7 3 (28) 19 8.6 5.0 6 .9 5.7 6.4 1.0 7 .0 2 3.5
S amp ath B an k S AMP.N 0000 D Buy 203.30 24,122 162.7 33,084 148.23 1. 37 3,484 4,151 4, 975 5,636 4,784 21.41 25.51 3 0. 57 3 4.63 29.40 68 19 20 13 9.5 8. 0 6.7 5. 9 6. 9 9.0 4.4 17.2
Seylan Bank SEYB.N0000 D 59.90 19,242 338.1 20,251 56.91 1.05 1,207 1,006 2,278 3.57 2.98 6.74 117 (17) 16.8 20.1 8.9 1.0 1.7 5.2
La nka Orix Fi na nce LOFC.N0000 M 3.90 5,303 2,800.0 1 0,920 1.89 2.06 1,246 1,246 1,171 0.45 0.44 0.42 1,229 (0) 8.8 8.8 9.3 - - 23.5
Sample Sector (16) 272,287 7,722.4 388,019 35.26 1.43 35,172 45,118 47,565 4.55 5.84 6.16 57 28 11.0 8.6 8.2 53.1 16.6
Full Sector (61) 530,192 1.55 9.8
Beverage, Food and Tobacco
Ca rgi ll s CARG.N0000 M 147.00 7,666 224.0 32,928 34.22 4.30 1,089 1 ,079 704 1 ,315 887 4 .86 4.82 3.14 5.87 3.96 54 ( 1) ( 35) 87 30.2 30.5 46.8 2 5.0 37.1 2.0 1.4 14.1
Ce yl on T ob a cc o Co mp a ny CT C. N00 00 D 852. 00 4, 534 1 87. 3 159 ,600 24. 20 35. 20 5, 097 6, 569 7, 919 8, 66 7 8 ,145 27. 21 35. 07 42. 27 46 .27 43. 48 24 29 2 1 9 31. 3 24. 3 2 0. 2 18 .4 19 .6 3 7. 1 4. 4 14 4. 9
Di sti lleri es DI ST.N0000 M Buy 180.20 40,157 300.0 54,060 133.86 1.35 8,124 5,982 6,109 7,643 6,210 27.08 19.94 20.36 25.48 20.70 186 (26) 2 25 6.7 9.0 8.8 7.1 8.7 3.0 1.7 14.9
Li on Brewe ry LI ON.N0000 M Buy 300.00 5,493 80.0 24,000 68.66 4. 37 1,013 1,262 1, 562 2,256 1,258 12.67 15.78 19. 52 28.19 15.72 58 25 24 44 23. 7 19. 0 15.4 10.6 19.1 4.0 1.3 23.0
Ne stl e ( La nk a) NE ST.N 0000 D 1, 600.00 2,825 53.7 85,961 52.59 30. 42 1,891 2,633 2, 758 3,497 2,650 35.19 4 9.01 5 1. 34 6 5.09 49.32 20 39 5 27 45. 5 32. 6 3 1.2 24.6 32.4 47.5 3.0 93.2
Sample Sector (5) 60,675 845.0 356,549 71.80 5.88 1 7,214 17,525 19,051 23,377 19,149 20.37 20.74 22.54 27.66 22.66 7 4 2 9 23 20.7 20.3 18.7 1 5.3 18.6 93.6 28.9
Full Sector (20) 389,067 4.27 14.8
Chemicals & Pharmaceuticals
CIC Holdings CIC.N0000 M 64.80 7,237 94.8 6 ,141 76.36 0.85 929 916 557 9.80 9.67 5.88 57 (1) 6.6 6.7 11.0 3.2 4.9 12.7
La nkem Ceyl on LCEY.N0000 M 170.00 3,694 24.0 4,080 153.92 1.10 1,131 552 361 47.13 23.01 15.06 230 (51) 3.6 7.4 11.3 2.5 1.5 14.9
Sample Sector (2) 10,931 118.8 10,221 92.03 0.94 2,060 1,469 918 17.34 12.37 7.73 121 (29) 5.0 7.0 11.1 5.7 13.4
Full Sector (10) 20,621 1.09 10.6
Construction & Engineering
Col omb o D ock ya rd DOCK.N0000 D 227.00 10,098 71.9 16,312 140.53 1.62 2,081 1,804 2,213 28.96 25.10 30.79 ( 3) ( 13 ) 7.8 9.0 7.4 6.0 2.6 17.9
Sample Sector (1) 10,098 71.9 16,312 140.53 1.62 2,081 1,804 2,213 28.96 25.10 30.79 ( 3) ( 13 ) 7.8 9.0 7.4 6.0 17.9
Full Sector (4) 19,799 1.36 7.3
Diversified Holdings
Aitken Spence SPEN.N0000 M 121.90 25,912 406.0 49,491 63.82 1.91 2,536 3,709 3,947 6.25 9.14 9.72 22 46 19.5 13.3 12.5 1.4 1.1 14.3
CT Holdings CTHR.N0000 M 134.60 12,614 183.1 24,645 68.89 1.95 864 1,213 1,060 4.72 6.63 5.79 131 40 28.5 20.3 23.2 2.1 1.5 9.6
Carsons Cumberbatch CARS.N0000 M 439.40 32,393 196.4 86,292 164.94 2.66 4,541 5,763 2,418 23.12 29.34 12.31 38 27 19.0 15.0 35.7 2.0 0 .5 17.8
E xpo la nka H ol d i ng s E XP O.N0 00 0 M LTB 7 .0 0 8 ,7 54 1 ,9 54 .9 1 3,68 4 4 .4 8 1 .5 6 1 ,5 47 1 ,0 55 1 ,2 64 1 ,8 02 1 ,0 63 0 .7 9 0 .5 4 0 .6 5 0 .9 2 0 .5 4 1 99 (32) 20 43 8.8 13.0 10.8 7.6 12.9 0.1 1.7 12.0
Hayleys HAYL.N0000 M 299.90 18,822 75.0 22,493 250.97 1.19 725 2,520 1,063 9.66 33.60 14.18 (59) 248 31.0 8.9 21.2 4.0 1.3 13.4
Hema s Hol dings HHL.N0000 M 28.00 10,946 515.3 14,428 21.24 1.32 1,210 1,209 1,445 2.35 2.35 2.80 34 (0) 11.9 11.9 10.0 0.5 1.8 11.0
John Keel ls Holdings JKH.N0000 M 223.00 74,867 851.6 189,902 87.92 2.54 8,246 9,775 10,900 9.68 11.48 12.80 59 19 23.0 19.4 17.4 3.5 1.6 13.1
Richard Peiris RICH.N0000 M 7.90 6,830 1,939.2 15,320 3.52 2.24 1,681 2,340 2,106 0.87 1.21 1.09 190 39 9.1 6.5 7.3 0.7 8.9 34.3
Softlogic Holdings SHL.N0000 M 11.50 7,811 779.0 8,959 10.03 1.15 829 494 198 1.06 0.63 0.25 438 (40) 10.8 18.1 45.2 0.1 1.1 6.3
Va ll ib el On e VONE.N0000 M Buy 18. 50 3 0, 502 1, 08 6. 6 2 0, 101 28. 07 0. 66 5 79 2, 025 1, 695 2, 32 3 1 ,851 0. 53 1. 86 1. 56 2 .14 1. 70 2 50 (16) 37 34.7 9.9 11.9 8.7 10.9 0.3 1.6 6.6
Sample Sector (10) 229,451 7,987.1 445,315 28.73 1.94 22,757 30,103 26,052 2.85 3.77 3.26 53 32 19.6 14.8 17.1 14.7 13.1
Full Sector (18) 482,959 1.81 16.7
Healthcare
Asiri Hospital Hold. ASIR.N0000 M 11.50 4,304 1,099.1 12,640 3.92 2.94 191 440 506 0.17 0.40 0.46 3 130 66.2 28.7 25.0 0.3 2.2 10.2
Nawaloka Hospitals NHL.N0000 M 3.10 3,421 1,409.5 4,369 2.43 1.28 1,071 275 475 0.76 0.20 0.34 999 (74) 4.1 15.9 9.2 0.1 1.6 8.1
Lanka Hospitals LHCL.N0000 M 39.60 27,164 223.7 8,860 121.41 0.33 289 424 475 1.29 1.89 2.12 3,892 46 30.6 20.9 18.7 0.5 1.3 1.6
Sample Sector (3) 34,889 2,732.3 25,869 12.77 0.74 1,551 1,139 1,456 0.57 0.42 0.53 436 (27) 16.7 17.8 0.8 3.3
Full Sector (6) 39,176 2.00 18.9
Book
Val.
Share
Cap.
Market
Cap.ROE
(%)
Trailing
DY (%)4Q
Trailing
4Q
Trailing
4Q
Trailing
Earnings EPS EPS Growth (%) PER
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Softlogic Equity ResearchPage | 11
Name Y/E Rec Mkt Price NAVPS P / BV DPS
11-Jan-13 M ar '1 1 M a r '1 2 Ma r' 13 E M ar '1 4E M ar '1 1 M ar '1 2 M ar '1 3E M ar '1 4E M ar '1 1 M ar '1 2 M ar '1 3E M ar '1 4E M ar '1 1 M ar '1 2 M ar '1 3E M ar '1 4E M ar '1 2
( 'M n) ( 'Mn ) ( 'M n) D ec '1 0 D ec '1 1 D ec '1 2E De c' 13 E D ec '1 0 D ec '1 1 D ec '1 2E D ec '1 3E D ec '1 0 De c' 11 D ec '1 2E D ec '1 3E D ec '1 0 D ec '1 1 D ec '1 2E D ec '1 3E D ec '1 1
Hotels and Travels
Ai tken Sp. Ho. Hol d. AHUN.N0000 M 73.40 11,344 336.3 24,684 33.73 2.18 1,034 1,395 2,285 1,604 3.07 4.15 6.79 4.77 97 35 64 23.9 17.7 10.8 15.4 0.7 1.0 12.3
Ama ya Le is ure CONN.N0000 M 80.00 2,277 48.0 3,843 47.40 1.69 470 296 344 376 361 9 .78 6.16 7.16 7.83 7.52 578 (37) 16 9 8.2 13.0 11.2 10.2 10.6 4.0 5.0 13.0
As ia n H ote ls & Pro p. AH PL.N0000 M 74. 50 13,021 442.8 32,987 29.41 2.53 1,775 2,151 2,332 2,623 2, 465 4.01 4.86 5.27 5.92 5. 57 1 82 21 8 12 18.6 1 5.3 14.1 12.6 13.4 4.0 5.4 16.5
Ke el ls Hote ls KHL.N0000 M 13.80 13,557 1,456.1 20,095 9.31 1.48 524 1,105 1,321 1,496 1,141 0.36 0.76 0.91 1.03 0.78 156 111 20 13 38.4 18.2 15.2 13.4 17.6 0.3 2.2 8.2
Taj TAJ.N0000 M 29.00 2,217 139.6 4,049 15.88 1.83 99 125 168 0.71 0.89 1.20 373 26 40.8 32.5 24.1 0.0 0.0 5.6
Tra ns As ia TRAN.N0000 M 74.90 5,211 200.0 14,980 26.05 2.87 660 631 987 1 ,180 814 3 .30 3.15 4.94 5.90 4.07 533 (4) 57 20 22.7 23.8 15.2 12.7 18.4 2.0 2.7 12.1
Sample Sector (6) 47,626 2,622.9 100,637 18.16 2.11 4,561 5,703 5,553 1.74 2.17 2.12 205 25 22.1 17.6 18.1 11.0 12.0
Full Sector (35) 153,131 1.68 22.2
Land and Property
Colombo La nd CLND.N0000 D 35.00 3,642 1 99.9 6,996 18.22 1.92 485 10 16 -19 2.43 0.05 0.08 (0.10) 20,836 (98) 67 14.4 729.4 437.2 -362.1 0.0 0.0 0.3
Ove rs ea s Rea li ty OSEA.N0000 D 14.30 19,809 843.5 12,062 23.48 0.61 844 2 ,707 1 ,644 2,628 1 .00 3.21 1.95 3.12 (37) 221 (39) 14.3 4.5 7.3 4.6 0.3 2.1 13.7
Sample Sector (2) 23,451 1,043.4 19,058 22.48 0.81 1,330 2,717 1,660 2,609 1.27 2.60 1.59 2.50 (1) 104 (39) 14.3 7.0 11.5 7.3 0.3 1.3 11.6
Full Sector (18) 35,083 0.82 8.1
Manufacturing
ACL Cables ACL.N0000 M 68.50 5,230 59.9 4,103 87.32 0.78 214 244 495 3.56 4.08 8.27 5,603 15 19.2 16.8 8.3 1.0 1.5 4.7
Grain Elevators GRAN.N0000 D 55.20 2,925 60.0 3,312 48.75 1.13 475 388 426 7.91 6.46 7.10 255 (18) 7.0 8.5 7.8 0.0 0.0 13.3
Che vr on L ubri ca nts L LUB.N0 00 0 D Hold 215. 10 4,154 120.0 25,812 34.62 6.21 1,501 2,001 2,123 2,638 2, 278 12.51 16.67 17.69 21.98 18. 98 0 33 6 24 17.2 1 2.9 12.2 9.8 11.3 11.5 5.3 48.2
Lanka Wall ti le LWL.N0000 M 61.00 4,098 54.6 3,331 75.06 0.81 484 731 704 8.87 13.39 12.90 1 51 6.9 4.6 4.7 4.0 6.6 17.8
Pi ra ma l Gl as s GLAS .N0000 M Buy 6.00 3,267 950.1 5,701 3 .44 1.74 579 686 906 1 ,024 717 0 .61 0.72 0.95 1.08 0.75 1,047 19 32 13 9.9 8.3 6.3 5.6 8.0 0.4 6.0 21.0
Roya l Ce ra mi c RCL.N0000 M Buy 9 6.00 7 ,7 16 1 10 .8 1 0,63 6 69 .6 4 1.38 1 ,4 41 1 ,9 58 1 ,7 78 2 ,3 06 1 ,7 52 1 3.01 1 7.68 1 6.05 2 0.81 1 5.82 4 9 3 6 (9) 30 7.4 5.4 6.0 4.6 6.1 2.0 2.1 25.4
Te xtu re d Je rs ey T JL.N 0000 M Buy 9. 00 5,603 655.0 5,895 8.55 1.05 685 628 914 1,041 735 1.05 0.96 1.40 1.59 1. 12 19 (8) 46 14 8.6 9.4 6.4 5.7 8.0 0.5 5.1 11.2
Tokyo Cement TKYO.N0000 M 26.10 6,050 303.8 7,928 19.92 1.31 856 979 561 2.82 3.22 1.85 132 14 9.3 8.1 14.1 1.3 5.0 16.2
Sample Sector (8) 39,042 2,314.1 66,717 16.87 1.71 6,234 7,616 7,668 2.69 3.29 3.31 58 22 10.7 8.8 8.7 20.6 4.4 19.5
Full Sector (36) 102,312 1.50 8.5
Motors
Co lo ni al Mo to rs COLO. N0000 M 151. 90 2,651 9.1 1,386 290.55 0.52 232 1 ,163 692 1, 042 25.39 127.41 75.84 114. 18 473 402 (40) 6.0 1.2 2.0 1.3 4.0 2.6 43.9
Di es e l & Mot or E ng i ne e ri ng DIMO .N00 00 M 6 03 .7 0 7 ,66 7 8 .9 5 ,3 59 8 63 .7 4 0 .7 0 2 ,1 22 2 ,6 97 1 ,8 68 1 ,6 05 2 39 .0 3 3 03 .8 7 2 10 .4 4 1 80 .8 6 7 55 2 7 (31) 2.5 2.0 2.9 3.3 40.0 6.6 35.2
Un ite d Motors UML.N0000 M 97.00 6,550 67.3 6,525 97.37 1.00 903 2,275 1,466 2,601 13.42 33.83 21.79 38.66 522 152 (36) 7.2 2.9 4.5 2.5 3.0 3.1 34.7
Sample Sector (3) 16,868 85.3 13,270 197.82 0.79 3,256 6,135 4,026 5,248 38.19 71.95 47.22 61.55 651 88 (34) 4.1 2.2 3.3 2.5 47.0 4.5 36.4
Full Sector (6) 22,003 1.08 3.5
Oil Palms
Bukit Darah BUKI.N0000 M 685.20 29,143 102.0 69,890 285.72 2.40 5 ,111 5,804 2,913 50.11 56.90 28.56 76 14 13.7 12.0 24.0 9.0 1.3 19.9
Sample Sector (1) 29,143 102.0 69,890 285.72 2.40 5,111 5,804 2,913 50.11 56.90 28.56 76 14 13.7 12.0 24.0 9.0 1.3 19.9
Full Sector (5) 103,619 1.98 26.7
Plantations
Balangoda BALA.N0000 D 37.60 1,473 23.6 889 62.32 0.60 164 25 79 6.96 1.08 3.35 101 (85) 5.4 35.0 11.2 0.0 1.7
Horana HOPL.N0000 M 26.30 1,073 25.0 658 42.91 0.61 326 70 137 13.03 2.81 5.48 244 (78) 2.0 9.4 4.8 1.0 6.5
Kegal le KGAL.N0000 M 108.70 3,169 2 5.0 2,718 126.77 0.86 838 6 81 673 33.51 27.26 26.92 129 (19) 3.2 4.0 4.0 7.5 6.9 21.5
Kelani Val ley KVAL.N0000 D 81.00 2,397 34.0 2,754 70.51 1.15 321 460 573 9.43 13.54 16.84 852 44 8.6 6.0 4.8 5.0 6.2 19.2
Kotagala KOTA.N0000 M 75.90 2,620 3 2.0 2,429 81.87 0.93 668 439 556 20.87 13.71 17.37 107 (34) 3.6 5.5 4.4 2.0 2.6 16.7
Watawala WATA.N0000 M 11.80 3,093 236.7 2,793 13.07 0.90 642 4 13 769 2.71 1.74 3.25 49 (36) 4.3 6.8 3.6 0.4 13.3
Sample Sector (6) 13,825 376.3 12,239 36.74 0.89 2,959 2,089 2,787 7.86 5.55 7.41 136 (29) 4.1 5.9 4.4 15.9 15.1
Full Sector (18) 25,900 0.91 6.5
Power and Energy
Lanka IOC LIOC.N0000 M 19.90 11,492 532.5 10,597 21.58 0.92 877 906 2,039 1.65 1.70 3.83 307 3 12.1 11.7 5.2 0.0 7.9
Val l ibel VPEL.N0000 M 6.60 1,988 747.1 4,931 2.66 2.48 422 254 212 0.57 0.34 0.28 2 (40) 11.7 19.4 23.3 0.3 3.8 12.8
Laugfs Gas LGL.N0000 M 26.50 5,331 387.0 10,256 13.77 1.92 853 942 967 2.20 2.43 2.50 62 1 1 12.0 10.9 10.6 1.5 5.7 17.7
Sample Sector (3) 18,810 1,666.6 25,784 11.29 1.37 2,151 2,102 3,217 1.29 1.26 1.93 315 (2) 12.0 12.3 8.0 11.2
Full Sector (8) 33,927 1.39 9.6
Telecommunications
Di al og Axi ata D IAL.N0000 D 8.30 36,253 8,143.8 67,593 4.45 1.86 5,047 5,354 6 ,521 7,569 6 ,511 0.62 0.66 0.80 0.93 0.80 141 6 22 16 13.4 12.6 10.4 8.9 10.4 0.3 3.0 14.8
Sri La nka Tel ecom SLTL.N0000 D 44.90 54,952 1,804.9 8 1,038 30.45 1.47 3,943 4,781 5,329 4,148 2.18 2.65 2.95 2.30 402 21 11 20.6 17.0 15.2 19.5 0.9 1.9 8.7
Sample Sector (2) 91,205 9,948.6 148,632 9.17 1.63 8,990 10,135 11,850 10,659 0.90 1.02 1.19 1.07 179 13 17 16.5 14.7 12.5 13.9 11.1
Full Sector (2) 147,461 1.62 13.8
Trading
Browns BRWN.N0000 M 123.40 14,316 70.9 8,746 202.00 0.61 2,188 1,169 898 30.87 16.49 12.67 116 (47) 4.0 7.5 9.7 0.5 0.4 8.2
S in ge r S ri La nk a S IN S.N 0000 D 97. 00 4,826 125.2 12,145 38.54 2.52 668 1,263 1,273 5.34 10.08 10.17 403 89 18.2 9.6 9.5 7.5 7.7 26.2
Sample Sector (2) 19,143 196.1 20,891 97.62 1.09 2,856 2,432 2,171 14.57 12.40 11.07 149 (15) 7.3 8.6 9.6 12.7
Full Sector (8) 26,545 1.15 10.3
Sample Market (70) 917,445 37,832.8 1,719,402 24.25 1.87 118,282 141,888 151,820 176,111 140,178 3.13 3.75 4.01 4.65 3.71 127 20 7 16 14.5 12.1 11.3 9.8 12.3 15.5
Total Market (283) 2,193,314 1.76 12.8
Book
Val.
Share
Cap.
Market
Cap.ROE
(%)
Trailing
DY (%)4Q
Trailing
4Q
Trailing
4Q
Trailing
Earnings EPS EPS Growth (%) PER
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7/30/2019 Weekly Plus - 2013 Issue 02 (11.01.2013)
12/12
Softlogic Equity ResearchPage | 12
Softlogic Equity Research
Dimantha Mathew
dimantha.mathew@equity.softlogic.lk+94 11 7277030
Akeela Imthinam Rasheed
akeela.rasheed@equity.softlogic.lk
+94 11 7277032
Crishani Perera
crishani.perera@equity.softlogic.lk
+94 11 7277031
Imalka Hettiarachchi
imalka.hettiarachchi@equity.softlogic.lk
+94 11 7277004
Softlogic Equity Sales
Dihan Dedigama
dihan.dedigama@equity.softlogic.lk
+94 11 7277010, +94 77 7689933
Chandima Kariyawasam
chandima.kariyawasam@equity.softlogic.lk
+94 11 7277058, +94 77 7885778
Shafraz Basheer
shafraz.basheer@equity.softlogic.lk
+94 11 7277054, +94 77 2333233
Sonali Abayasekera
sonali.abayasekera@equity.softlogic.lk
+94 11 7277059, +94 77 7736059
Thanuja De Silva
thanuja.desilva@equity.softlogic.lk
+94 11 7277053, +94 77 3120018
Branches
HoranaMadushanka Rathnayaka
No. 101, 1/1, Aguruwathota Road, Horana
madushanka.rathnayaka@equity.softlogic.lk
+94 34 7451000, +94 77 3566465
MataraLalith RajapakshaNo. 8A, 2
ndFloor, FN Building,
Station Road, Matara
lalith.rajapaksha@equity.softlogic.lk
+94 41 7451000, +94 77 3031159
NegamboKrishan Williams
No. 121, St. Joseph Street Negambo
krishan.williams@equity.softlogic.lk
+94 31 2224714-5, +94 77 3569827
KurunegalaBandula Lansakara
No.13, Rajapihilla Mawatha, Kurunegala
bandula.lansakara@equity.softlogic.lk
+94 37 2232875, +94 77 3615790
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