weekly plus - 2013 issue 04 (24.01.2013)

7/29/2019 Weekly Plus - 2013 Issue 04 (24.01.2013)

1/13

2013 Issue 04 Week Ending 24-01-2013

Weekly Market Wrap UpStat Page Pg 02

Weekly Stock Trends Pg 03

Week in BriefBanking & Finance sector underscored activity; retail play back on track

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 Market

Equity Market Outlook

Pg 07

Global Commodity Trend Pg 08

Research Chat:JOHN KEELLS HOTELS - 2QFY13 EARNINGS SNAPSHOT Pg 09 Pg 10

Our Core Coverage Pg 11 Pg 12


2/13

Current WoW %

ASPI 5878.19 0.0%

S&P SL20 3190.65 0.2%

Turnover (LKR 'bn) 4,837.8 41.7%

Volume ('mn) 296.0 188.6%

Market Cap. (LKR 'bn) 2,258.0 0.1%

LKR ('mn) Current WoW %

Foreign Purchases 1,331.1 -28.5%

Foreign Sales 2,265.6 61.1%

Net Foreign Inflow -934.5 -305.3%

Foreign Participation 65% 30.6%

Net Foreign -17 -935

Current WoW %

PER 16.6 0.1%

PBV 2.2 0.1%

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%

SAMPATH (+) 137.1 6.9% COMMERCIAL BANK (+) -2.37% LAND & PROPERTY 506.0 3.2%

NESTLE (+) 115.9 0.14% ENVI. RESOURCES -17.44% MANUFACTURING 2,606.0 1.2%

LOLC 58.6 0.58% AITKEN SPENCE -0.16% MOTORS 15,430.7 2.5%

JKH 34.8 0.03% TOKYO CEMENT -1.68% PLANTATIONS 808.2 0.9%

DISTILLERIES 16.1 0.14% HNB (+) -0.25% TELECOM 163.5 1.3%

3184.61

3,413.1

16.6

2.2

2.3

Previous

12,051.5

15,397.6

455.2

50%

1,861.8

1,406.7

102.6

2,256.8

Previous

-683.3

-573.7

-37.0

-29.3

-25.9

455

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

-101

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

5875.28

5,300

5,4005,500

5,600

5,700

5,800

5,900

6,000

Daily Index Movement

ASPI

0

50

100

150

200

250

300

350

0

1,000

2,000

3,000

4,000

5,000

6,000

3-Jan 10-Jan 17-Jan 24-Jan

('Mn

)LKR('Mn)

Weekly Turnover and Volume

Turnover (LHS) Volume (RHS)

0

500

1,000

1,500

2,000

2,500

3-Jan 10-Jan 17-Jan 24-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)

Page | 2


3/13

Company Current Previous WoW % Volume

INFRASTRUCTURE 200.00 162.10 23.38% 18

ENVI. RESOURCES 18.90 16.10 17.39% 42,204,991

MIRAMAR 95.00 82.40 15.29% 5

FINLAYS COLOMBO 310.40 270.00 14.96% 1,074AUTODROME 907.30 801.00 13.27% 2,349


CIT 132.50 164.20 -19.31% 4,399

LANKA FLOORTILES 60.00 67.90 -11.63% 218,296

ARPICO 80.50 89.90 -10.46% 3,381

CEYLON PRINTERS 1,800.30 1,999.90 -9.98% 7

CAL FINANCE 19.80 21.30 -7.04% 170,827


COMMERCIAL BANK 104.00 105.00 -0.95% 14,805,700

BROWNS INVSTMNTS 3.70 3.80 -2.63% 163,369,140

ENVI. RESOURCES 18.90 16.10 17.39% 42,204,991

SAMPATH 213.50 206.10 3.59% 877,801

PEOPLES LEASING 15.40 15.00 2.67% 9,720,082


BROWNS INVSTMNTS 3.70 3.80 -2.63% 163,369,140

ENVI. RESOURCES 18.90 16.10 17.39% 42,204,991

COMMERCIAL BANK 104.00 105.00 -0.95% 14,805,700

PEOPLES LEASING 15.40 15.00 2.67% 9,720,082

HVA FOODS 14.50 13.70 5.84% 2,869,267

459

291,827

Weekly Top Gainers

Weekly Stock Trends

Turnover

2,920

722,417,608

Week in Brief

734,413,054

722,417,608

185,772,484

163,059,754

Turnover

734,413,054

722,417,608

1,540,643,019

163,059,754

Weekly Top Losers

Weekly Top Performers

Weekly Top Volume

2,128,031

3,508,291

Turnover

1,540,643,019

Turnover

13,101

582,203

13,110,068

295,624

41,855,390

Banking & Finance sector underscored activity; retail play back

on track'

The four day week embarked on a volatile path while indices denoted a broadly flat trend after having rallied 129 points over the past week.

Retail investors sustained active play backed by improved sentiments with the continuous dip in interest rates while turnover levels

remained healthy around an average of LKR1.2 bn. The week encountered 26 crossings which contributed 59% to the turnover with majority

of the deals drawn in bluechips and banking and finance counters. The benchmark index witnessed marginal fluctuations between 5,889.47

points (+13 points) and 5,862.70 points (-13 points) before settling broadly flat at 5,878.19 points. However the S&P SL20 index secured a

gain of 16 points WoW closing at 3,190.65 points. Foreigners concluded the week with a net foreign outflow of LKR934 mn.

S&P SL20 index in brief: The S&P SL20 index cooled down after a week of solid gains as it concluded the week with a 16 point advance at

3,190.65 points. Notable positive contributions from Dialog Axiata (+3.6% WoW), Sampath Bank (+3.6% WoW), Aitken Spence (+2.5%

WoW) and National Development Bank (+2.5% WoW) outweighed the losses made in counters which encountered solid gains at their 52-

week high levels over the past week; Sri Lanka Telecom (-4.6% WoW), Ceylon Tobacco Company (-2.5% WoW)and Distilleries (-1.1% WoW).

Commercial Bank extended its dominance over the weekly turnover: Commercial Bank encountered heavy participation whilst having

added 14 off-market deals supporting its weekly turnover of LKR1.5 bn. The counter continued to witness foreign sales being absorbed by

locals as it closed with a dip of 1.0% WoW at LKR104.0. Renewed interest in Environmental Resources Investments (+17.4% WoW) was seen

throughout the week supported by two off-board deals while retail interest spurred heavy on-board interest in the counter. Banking and

finance cluster denoted significant interest defining the market story of the week as Sampath Bank (+3.6% WoW), Hatton National Bank

(+0.0% WoW), Lanka Orix Leasing Company (+4.9% WoW) and Central Finance (+3.6% WoW) generated notable contribution to the weeks

turnover of LKRX mn. Further, Peoples Leasing Company andPeoples Finance sustained interest touching new 52-week high prices of

LKR16.7 (+11.3% WoW) and LKR40.7 (+8.5% WoW) as buying from their parent companies continued.

26 crossings took up 59% of the weeks turnover: Crossings in bluechips and banking and finance sector counters defined the market story

depicting strong interest in fundamentals. Commercial Bank witnessed c.13 mn shares crossed off via 15 off-board blocks at prices of

LKR104.0 and LKR104.7. Hatton National Bank added c.159k shares at LKR146.0 while Sampath Bank saw 2 blocks totalling 250k shares at

LKR213.0 on Friday. Peoples Leasing Company after having renewed its 52-week peak recorded a crossing of 5 mn shares at LKR17.5 on

Wednesday. John Keells Holdings which saw relatively silent play during the week registered 2 blocks of c.799k shares at prices of LKR225.0

and LKR224.5. Further, Browns Investments encountered a block of c.162 mn shares at a 52-week low (off-market) price of LKR4.5 with

Brown & Company and Taprobane Holdings on the buying and selling sides respectively. Strategic deals in Environmental Resources

Investments led 2 large crossings which carried 30 mn shares at prices of LKR16.5 and LKR17 while renewed play in Carsons Cumberbatch

and Tokyo Cement led the counters to add 45.5 mn shares and c.1 mn shares to the crossings board respectively at LKR450.0 and LKR27.0.

Large on-board trades: Banking & Finance sector took center stage with on-board blocks for the week as Hatton National Bank, Sampath

Bank and Commercial Bank continued to grab investor focus. Environmental Resources Investments, HVA Foods and Dialog Axiata were

among the other counters which saw notable on-board transactions.

Retail Participation: Retailers sustained active play during the week backed by revived sentiments with the declining trend of interest rates.

The following counters saw active interest from retail investors; Free Lanka Capital holdings (-3.8% WoW), Lanka Orix Finance (-4.9% WoW),Panasian Power (-3.4% WoW) Environmental Resources Investments (+17.4% WoW)Peoples Leasing Company (+2.7% WoW), HVA Foods

(+5.8% WoW), Access Engineering (+0.0% WoW)and Laughs Gas (-3.8% WoW).

Several counters at their 52-week peaks: Peoples Finance and its parent, Peoples Leasing Company touched new 52-week high levels at

LKR16.7 (+11.3% WoW) and LKR40.7 (+8.5% WoW) respectively as the banking and finance sector encountered heightened interest

throughout the week. Asiri Hospital Holdings and Ceylon Cold Stores too traded at their 52-week high prices of LKR12.6 and LKR139.0

amidst thin volumes.

Foreigners conclude the week with an outflow of LKR934 mn: Foreign participation weighed heavier on the selling side as foreign sales of

LKR2.3 bn was recorded against foreign purchases of LKR1.3 bn resulting in a net foreign outflow of LKR934 mn for the week. Foreign selling

in Commercial Bank, Environmental Resources Investments and Aitken Spence outweighed foreign buying in Sampath Bank, Nestle Lanka

and Lanka Orix Leasing Company.

Page | 3


4/13

DIVIDENDS

RIGHTS ISSUE

Pelwatte Sugar

###

S&P SL20 Companies Current Previous WoW % ###

JOHN KEELLS HOLDINGS 224.50 225.00 -0.22% ###

COMMERCIAL BANK 104.00 105.00 -0.95% ###THE BUKIT DARAH 700.00 690.00 1.45% SCRIP DIVIDEND

HATTON NATIONAL BANK 146.00 146.00 0.00%

CARSONS CUMBERBATCH 450.00 440.50 2.16%

SAMPATH BANK 213.50 206.10 3.59%

CEYLON TOBACCO COMPANY 881.30 903.60 -2.47%

DFCC BANK 125.00 123.00 1.63% CAPITALIZATION OF RESERVES

AITKEN SPENCE 125.50 122.40 2.53%

NATIONAL DEVELOPMENT BANK 147.80 144.20 2.50%

C T HOLDINGS 135.00 135.00 0.00%

DISTILLERIES 185.80 187.80 -1.06%HAYLEYS 298.00 299.00 -0.33% SUBDIVISION OF SHARES

CHEVRON LUBRICANTS LANKA 221.00 221.60 -0.27%

DIALOG AXIATA 8.60 8.30 3.61%

CARGILLS (CEYLON) 150.00 147.50 1.69%

AITKEN SPENCE HOTEL HOLDINGS 75.00 73.90 1.49% CONSOLIDATION OF SHARES

NESTLE LANKA 1,600.00 1,600.00 0.00%

ASIAN HOTELS & PROPERTIES 72.40 72.90 -0.69%

SRI LANKA TELECOM 47.20 49.50 -4.65%

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

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-Jan-19000-Jan-1900

0-Jan-1900

EGM Date Trading Date

0-Jan-1900

0-Jan-1900

0-Jan-1900

00-01-1900

00-01-1900

00-01-1900

00-01-1900

00-01-1900

00-01-1900

Payment

0-Jan-1900

0-Jan-1900

1,540,643,0192,930,026

Delayed

XD Date

0-Jan-1900

0-Jan-1900

0.00

0.00

0

0-Jan-1900

Turnover

108,281,266

Company Proportion

Announcements

Company Dividend (LKR)

00-01-1900

00-01-1900

00-01-1900

00-01-1900

0.00

XD DateEGM DateProportionCompany

0-Jan-1900

0-Jan-1900

S & P SL20 Debrief

121,988,476

24,355,082

185,772,484

885,276

0-Jan-1900 0-Jan-1900 0-Jan-19000-Jan-1900

0-Jan-1900

0-Jan-1900

0

01 for 04 @ LKR18.0

0

0

9,625,101

0-Jan-1900

0-Jan-1900 0-Jan-1900

40,727,730

0-Jan-1900 0-Jan-1900 0-Jan-1900 0-Jan-1900

Company Proportion EGM Date Trading Date

Colonial Motors

44,641,157

48,602,741

3,078,740

5,425,186

22,904,575

35,609,568

7,559,099

13,690,800

139,296,590

6,168,528

1,460,504

0-Jan-1900 0-Jan-1900

0-Jan-1900

0 0

0-Jan-1900 0 0

2,950

3,000

3,050

3,100

3,150

3,200

3,250

Daily Index Movement

S&P SL20

Page | 4


5/13

Local Economy

CURRENCY MOVES

122124

126

128

130

132

LKR USD : LKR

1.20

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

195

200

205

210

215

LKR GBP : LKR

2.20

2.25

2.30

2.35

2.40

2.45LKR Indian Rupee : LKR

"Sri Lanka's tourist arrivals in December 2013 rose 25.4%, the highest monthly total ever, and

annual arrivals were up 17.5% to 1.005 mn, the state tourism office said. Arrivals from

Western Europe were up 29.6% to 43,699 with Britain Sri Lanka's top market in the region up

27.8% to 12,861.."

Page | 5


6/13

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

16-Jan-13 09-Jan-13 WoW %

High Grown 441.52 436.90 1.06%

Mid Grown 384.85 378.07 1.79%

Low Grown 430.42 427.57 0.67%

Total 426.31 421.98 1.03%

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 16-Jan-12 20-Dec-12 WoW %

Annual Average Change 7.2% 7.6% -40 RSS 1 418.00 382.00 9.42%

1-Yr T-Bill 12.86% 11.38% 148 Brown Crepe 1X 365.00 375.00 -2.67%

Sale of

11-Dec-12

Corres. 2012

12.97%

WoW %

-8%

10%

327.42

298.64

365.82

347.14

Local Economy

Elevation

Nov-12

INFLATION & INTEREST RATE

20%

16%

22.81%

7.35%

370.00

340.00

YoY %

-7%

Elevation

34.85%

28.87%

17.66%

YoY %

Change %

-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

Page | 6


7/13

Global Markets

EQUITY MARKET OUTLOOK

"Indias rupee fell the most in two weeks after the International Monetary Fund cut its forecast for global growth

and on speculation importers bought dollars to pay month-end bills. The world economy will expand 3.5% this year,

less than the 3.6% forecast in October, the IMF said in a report yesterday. The Washington-based lender scaled

back its 2013 estimate for India to 5.9% from 6 %.

11,500

12,000

12,500

13,000

13,500

14,000

Index Dow Jones Industrial Average

5,200

5,400

5,600

5,8006,000

6,200

6,400

Index FTSE 100 Index

1,250

1,300

1,350

1,400

1,450

1,500

1,550

Index S&P 500 Index

7,000

8,000

9,000

10,000

11,000

12,000Index 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

Page | 7


8/13

WTI Crude USD/bbl 95.57 0.2%

Gold USD/t oz. 1,676.80 -0.8%Copper USd/lb. 367.70 0.0%

Cotton USd/lb. 80.08 3.1%

Wheat USd/bu. 772.50 -1.6%

95.38

77.70

784.75

Commodity This Week Last WeekWoW

Change

1,690.30367.60

GLOBAL COMMODITY TREND

Global Markets

75

80

85

90

95

100

USD/bbl

WTI CRUDE FUTURE

65

70

75

80

85

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

Page | 8


9/13

Softlogic Equity ResearchPage | 9

John Keells Hotels [KHL : LKR13.7]earnings marginally up 2% YoY with 2QFY13 reaching LKR116mn compared to LKR114mn in previous comparative quarter. KHL revenue

jumped to LKR2bn, up 29% YoY amidst increased Sri Lankan average room rates and recovery of Maldives occupancy. Group EBIT dipped by 11% against its comparative quarterin FY12, but was up 45% QoQ.

Maldives hotels outperforms previous year. Maldives hotels sector which consists of

about 340 rooms has served well for the group with occupancy level in the sector rising to

80-85% mark compared to the troubled last year where there was a marginal dip in

occupancies. Average room rates for the Maldives segment remained strong at USD260-

270.

The total Maldives revenue for the quarter stood at LKR1.2bn growing 32% YoY from

LKR0.9bn in the previous year as profitability of the sector in 2QFY13 surged to LKR148mn

compared to LKR50mn in 2QFY12, recording a jump of 296%.

Local segment suffer losses. The local segment which consists of 7 hotels and a hotel room capacity of approximately 998 rooms suffered setbacks with 2 of the hotels undergoing

refurbishment. The 2 hotels in Beruwala and Kandy which were under refurbishment has been re-branded and launched during the 3QFY13.

Revenue in the local segment grew 25% YoY in 2QFY12 to LKR741mn despite 2 hotels remaining closed primarily led by higher room rates. The average room rates for the hotels

stood at USD90-95 and are likely to stay steady for the full financial year. The occupancy level of the resorts, unlike the city hotels was disappointing at 45%-50%. With 2 hotels

closed and heavy increase in food and beverage and energy costs, the local segment underperformed to end the quarter 2QFY13 with a loss of LKR35mn compared to a profit of

LKR67mn in the previous comparative quarter recording a dip of 157%.

Overall performance flat. The overall performance of John Keells Hotels group recorded a revenue growth of 29% with

contributions from both Maldives and Sri Lankan hotels segments. However due to the temporary setback in the local hotels

segment the group PBT saw a sharp drop of 42% to LKR80mn.

However thanks to a tax reversal of LKR35mn during the quarter, earnings for 2QFY12 for the group remained broadly flat

with a marginal improvement of 2% to LKR116mn.

FUTURE OUTLOOK

Strong occupancy expected during winter season. The winter season has been the peak season for Sri Lanka tourism. With

the Government targeting to exceed 1mn tourists during this year, we expect a strong 3rd and 4th quarter for FY13 for KHL

especially for the Sri Lankan segment resorts. We believe occupancies in the overall Sri Lankan segment to improve to 70%-

75% during the both 3Q and 4Q of FY13.

2QFY13 Indicators

Share Price

Issued Share Capital (mn)Market Capitalisation (LKR mn)

Valuations FY13E FY14E

Earnings 1,314 1,488

EPS 0.9 1.0

PER (x) 15.2 13.4

NAVPS as at Sep 2012

PBV (x) on Sep 2012 BV

KHL.N0000

13.70

9.3

1.5

1,456.119,949


10/13


Two hotels to re-brand and launch. The refurbishment of the two hotels in Beruwala and Kandy has now b een completed. Both hotels are now launched under the Cinnamon

brand as Cinnamon Bey in Beruwala and Cinnamon Citadel in Kandy and were commissioned during the winter season in 3QFY13.

Growth in hotel earnings but expensive valuations. The addition of the 2 refurbished hotels would be a great strength for the group which were the last to be refurbished. We

believe with all hotels in the group now operational for the peak season, the group is likely to record a strong growth in revenue and profitability. Group QoQ margins are likely to

signify a dramatic improvement both in 3Q and 4Q FY13.

Thereby we conservatively expect group revenue for FY13E to grow by 20% to reach LKR8.8bn while earnings are likely to touch LKR1.3bn for FY13E. The counter currently trades at

a PER of 15.2x FY13E earnings and 13.4x FY14E earnings. KHL trades at 1.5x PBV on September 2012 book value.


11/13


Name Y/E Rec Mkt Price NAVPS P / BV DPS

24-Jan-13 M ar '1 1 M a 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 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) ( 'M n) ( 'M n) D ec '1 0 D ec '1 1 De c' 12 E D ec '1 3E D ec '1 0 D ec '1 1 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 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 184.40 14,739 104.9 19,340 140.53 1.31 1,827 2,675 2,970 17.42 25.51 28.32 75 46 10.6 7.2 6.5 2.5 1.4 18.2

Ceyl inco Insura nce CINS.N0000 D 900.00 11,250 26.4 23,773 425.89 2.11 962 1,372 1,465 36.41 51.95 55.47 40 43 24.7 17.3 16.2 6.5 0.7 12.2

Co mm erci a l B an k CO MB .N 00 00 D Buy 104. 00 51,185 833.5 86,683 61. 41 1.69 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 15.7 10.8 9.0 8. 1 8.9 6.0 5. 8 15. 7

Commercial Bank [X] COMB.X0000 D Buy 92.00 51,185 833.5 76,681 61.41 1.50 5,508 8,048 9,658 10,637 6.61 9.66 11.59 12.76 11.62 31 46 20 10 13.9 9.5 7.9 7.2 7.9 6.0 6.5 15.7

DFCC Bank DFCC.N0000 M MTB 1 25 .0 0 26 ,1 06 2 65 .1 3 3,13 7 9 8.48 1 .27 5 ,0 90 2 ,9 00 3 ,0 78 3 ,4 53 3 ,2 06 1 9 .2 0 1 0.94 1 1.61 1 3.02 1 2.09 9 7 (43) 6 12 6.5 11.4 10.8 9.6 10.3 4.0 3.2 11.1

H a tt on N a ti o na l B a nk H NB .N 00 00 D Buy 146. 00 44,141 397.4 58,018 111. 08 1.31 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 12.1 9. 4 8.7 7. 6 8.1 7.5 5. 1 13. 9Hatton National Bank [X] HNB.X0000 D Buy 113.50 44,141 397.4 45,103 111.08 1.02 4,787 6 ,149 6 ,686 7 ,645 12.05 15.47 16.83 19.24 1 8.05 7 28 9 14 9.4 7.3 6.7 5.9 6.3 7.5 6.6 13.9

La nka Orix Leasing Company LOLC.N0000 M 70.00 20,609 475.2 33,264 43.37 1.61 3,840 6,379 3,928 8.08 13.42 8.27 109 66 8.7 5.2 8.5 - - 31.0

LB Fina nce LFIN.N0000 M Buy 149. 00 4,522 69.3 10,319 65. 30 2.28 1, 020 1,625 1,931 2,224 1, 787 14.73 2 3. 46 2 7.88 3 2.11 25.80 1 04 59 19 15 10.1 6. 4 5.3 4. 6 5.8 5.0 3. 4 35. 9

National Development Bank NDB.N0000 D Buy 147. 80 18,491 164.2 24,269 112. 61 1.31 2, 150 2,706 2,972 3,409 3, 040 13.09 1 6. 48 1 8.10 2 0.76 18.51 3 26 10 15 11.3 9. 0 8.2 7. 1 8.0 7.5 5. 1 14. 6

N at io ns T ru s t B a nk N TB .N 000 0 D Buy 59.10 9 ,586 230.6 13,629 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 12.6 8.9 7.4 5.9 7.5 2.1 3.6 16.0

Pan Asia Bank PABC.N0000 D 18.50 3,865 295.0 5,458 13.10 1.41 362 824 761 1.23 2.79 2.58 (7) 128 15.1 6.6 7.2 1.0 5.4 21.3

Pe op le 's Le as i ng PLC. N0000 M Buy 1 5. 40 19 ,1 28 1 ,5 60 .0 24 ,02 4 12. 26 1 .2 6 2, 60 5 4, 503 3 ,2 53 3 ,88 4 3, 49 1 1. 67 2. 89 2 .09 2 .4 9 2 .24 12 6 73 (28) 19 9.2 5.3 7 .4 6.2 6.9 1.0 6 .5 2 3.5

Sa mpa th Ba nk S AMP.N0000 D Buy 213. 50 24,122 162.7 34,744 148. 23 1.44 3, 484 4,151 4,975 5,636 4, 784 21.41 2 5. 51 3 0.57 3 4.63 29.40 68 19 20 13 10.0 8. 4 7.0 6. 2 7.3 9.0 4. 2 17. 2

Seylan Bank SEYB.N0000 D 60.10 19,242 338.1 20,319 56.91 1.06 1,207 1,006 2,278 3.57 2.98 6.74 117 (17) 16.8 20.2 8.9 1.0 1.7 5.2

La nka Ori x Fi na nce LOFC.N0000 M 3.90 5,303 2,800.0 10,920 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 7,722.4 397,898 35.26 1.46 35,172 45,118 47,565 4.55 5.84 6.16 57 28 11.3 8.8 8.4 53.1 16.6

Full Sector (61) 535,334 1.57 9.9

Beverage, Food and Tobacco

Ca rgi ll s CARG.N0000 M 150.00 7,666 224.0 33,600 34.22 4.38 1,089 1 ,079 704 1 ,315 887 4 .86 4.82 3.14 5.87 3.96 54 ( 1) ( 35) 87 30.9 31.1 47.7 25.6 37.9 2.0 1.3 1 4.1

Ce yl on T ob a cco Co mp a ny CT C. N0 00 0 D 88 1. 30 4 ,5 34 1 87 .3 1 65 ,08 8 2 4. 20 3 6. 41 5, 09 7 6, 569 7 ,9 19 8 ,66 7 8, 14 5 2 7. 21 3 5. 07 42 .27 46 .2 7 43 .48 2 4 29 21 9 32 .4 2 5. 1 20 .8 19 .0 20 .3 3 7. 1 4. 2 14 4. 9

Di sti ll eri es DI ST.N0000 M Buy 185.80 40,157 300.0 55,740 133.86 1.39 8,124 5,982 6,109 7,643 6,210 27.08 19.94 20.36 25.48 20.70 186 (26) 2 25 6.9 9.3 9.1 7.3 9.0 3.0 1.6 14.9

Li on Bre we ry LI ON.N0000 M Buy 310. 00 5,493 80.0 24,800 68. 66 4.51 1, 013 1,262 1,562 2,256 1, 258 12.67 1 5. 78 19.52 28.19 15.72 58 25 24 44 24.5 1 9.6 15.9 11.0 19.7 4.0 1. 3 23. 0

Ne stl e ( La nk a) NE ST .N0000 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 31.2 24.6 32.4 47.5 3. 0 9 3. 2

Sample Sector (5) 60,675 845.0 365,189 71.80 6.02 17,214 17,525 19,051 23,377 19,149 20.37 20.74 22.54 27.66 22.66 7 4 2 9 23 21.2 20.8 19.2 15.6 19.1 93.6 28.9

Full Sector (20) 409,801 4.49 15.6

Chemicals & Pharmaceuticals

CIC Holdings CIC.N0000 M 64.80 7,237 94.8 6,141 76.36 0.85 929 9 16 557 9.80 9.67 5.88 57 (1) 6.6 6.7 11.0 3.2 4.9 12.7

La nkem Ceylon LCEY.N0000 M 169.50 3,694 24.0 4,068 153.92 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 10,209 92.03 0.93 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) 20,911 1.11 10.8

Construction & Engineering

Col ombo Dockya rd DOCK.N0000 D 235.00 10,098 71.9 16,887 140.53 1.67 2,081 1,804 2,213 28.96 25.10 30.79 ( 3) ( 13) 8.1 9.4 7.6 6.0 2.6 17.9

Sample Sector (1) 10,098 71.9 16,887 140.53 1.67 2,081 1,804 2,213 28.96 25.10 30.79 ( 3) ( 13) 8.1 9.4 7.6 6.0 17.9

Full Sector (4) 20,493 1.41 7.6

Diversified Holdings

Aitken Spence SPEN.N0000 M 125.50 25,912 406.0 50,953 63.82 1.97 2,536 3,709 3,947 6.25 9.14 9.72 22 46 20.1 13.7 12.9 1.4 1.1 14.3

CT Holdings CTHR.N0000 M 135.00 12,614 183.1 24,718 68.89 1.96 864 1,213 1,060 4.72 6.63 5.79 131 40 28.6 20.4 23.3 2.1 1.5 9.6

Cars ons Cumberbatch CARS.N0000 M 450.00 32,393 196.4 88,374 164.94 2.73 4,541 5,763 2,418 23.12 29.34 12.31 38 27 19.5 15.3 36.5 2.0 0.4 17.8

Exp ol a n ka H ol d i ng s EXPO.N0 00 0 M LTB 7. 00 8 ,7 54 1 ,9 54 .9 13 ,68 4 4. 48 1 .5 6 1, 54 7 1, 055 1 ,2 64 1 ,80 2 1, 06 3 0. 79 0. 54 0 .65 0 .9 2 0 .54 19 9 (32) 20 43 8.8 13.0 10.8 7.6 12.9 0.1 1.7 12.0

Hayleys HAYL.N0000 M 298.00 18,822 75.0 22,350 250.97 1.19 725 2,520 1,063 9.66 33.60 14.18 (59) 248 30.8 8.9 21.0 4.0 1.3 13.4Hemas Holdings HHL.N0000 M 28.80 10,946 515.3 14,840 21.24 1.36 1,210 1,209 1,445 2.35 2.35 2.80 34 (0) 12.3 12.3 10.3 0.5 1.7 11.0

John Keel ls Holdings JKH.N0000 M 224.50 74,867 851.7 191,207 87.90 2.55 8,246 9,775 10,900 9.68 11.48 12.80 59 19 23.2 19.6 17.5 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 12.30 7,811 779.0 9,582 10.03 1.23 829 494 198 1.06 0.63 0.25 438 (40) 11.6 19.4 48.3 0.1 1.1 6.3

Va ll ibe l One VONE.N0000 M Buy 1 8. 80 30 ,5 02 1, 086 .6 20 ,42 7 2 8. 07 0. 67 57 9 2, 025 1 ,6 95 2 ,32 3 1, 85 1 0. 53 1. 86 1 .56 2 .1 4 1 .70 25 0 (16) 37 35.3 10.1 12.1 8.8 11.0 0.3 1.6 6.6

Sample Sector (10) 229,451 7,987.2 451,456 28.73 1.97 22,757 30,103 26,052 2.85 3.77 3.26 53 32 19.8 15.0 17.3 14.7 13.1

Full Sector (18) 488,631 1.83 16.9

Healthcare

Asiri Hospita l Hold. ASIR.N0000 M 12.50 4,304 1,099.1 13,739 3.92 3.19 191 440 506 0.17 0.40 0.46 3 130 72.0 31.2 27.2 0.3 2.0 10.2

Nawaloka Hos pitals 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

La nka Hospitals LHCL.N0000 M 39.00 27,164 223.7 8,726 121.41 0.32 289 424 475 1.29 1.89 2.12 3,892 46 30.2 20.6 18.4 0.5 1.3 1.6

Sample Sector (3) 34,889 2,732.3 26,834 12.77 0.77 1,551 1,139 1,456 0.57 0.42 0.53 436 (27) 17.3 18.4 0.8 3.3

Full Sector (6) 40,345 2.06 19.5

Book

Val.

Share

Cap.

Market

Cap.ROE

(%)

Trailing

DY (%)4Q

Trailing

4Q

Trailing

4Q

Trailing

Earnings EPS EPS Growth (%) PER


12/13


Name Y/E Rec Mkt Price NAVPS P / BV DPS

24-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) ( 'M n) ( 'M n) D ec '1 0 D ec '1 1 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 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 tk e n Sp. H o. H ol d . AHUN.N0 00 0 M Buy 75.00 11,344 336.3 25,222 33.73 2.22 1,034 1,395 1,897 2,148 1,604 3.07 4.15 5.64 6.39 4.77 97 35 36 13 24.4 1 8.1 13.3 11.7 15.7 0.7 0.9 12.3

Am aya Le is ure CONN.N0000 M Buy 78.50 2,277 48.0 3,771 47.40 1.66 470 296 344 376 361 9.78 6.16 7.16 7.83 7.52 5 78 (37) 16 9 8.0 12.7 11.0 10.0 10.4 4.0 5.1 13.0

As i an H ot el s & Pro p . AHPL.N0 00 0 M Buy 72.40 13,021 442.8 32,057 29.41 2.46 1,775 2,151 2,332 2,623 2,465 4.01 4.86 5.27 5.92 5.57 182 21 8 12 18.1 1 4.9 13.7 12.2 13.0 4.0 5.5 16.5

Ke el ls Hote ls KHL.N0000 M 13.70 13,557 1,456.1 19,949 9 .31 1.47 524 1 ,105 1 ,321 1 ,496 1,141 0 .36 0.76 0.91 1.03 0.78 156 111 20 13 38.1 18.0 1 5.1 13.3 17.5 0.3 2.2 8.2

Ta j TAJ.N0000 M 30.40 2,217 1 39.6 4,245 15.88 1.91 99 125 246 293 168 0.71 0.89 1.76 2.10 1.20 373 26 97 19 42.7 34.0 17.3 14.5 25.3 0.0 0.0 5.6

Tra ns As ia TRAN.N0000 M 77.00 5,211 200.0 15,400 26.05 2.96 660 631 987 1 ,180 814 3 .30 3.15 4.94 5.90 4.07 533 (4) 57 20 23.3 24.4 15.6 1 3.1 18.9 2.0 2.6 12.1

Sample Sector (6) 47,626 2,622.9 100,644 18.16 2.11 4,561 5,703 7,127 8,116 5,553 1.74 2.17 2.72 3.09 2.12 205 25 25 14 22.1 17.6 14.1 12.4 18.1 11.0 12.0

Full Sector (35) 153,923 1.69 22.3

Land and Property

Colombo La nd CLND.N0000 D 36.00 3,642 199.9 7,196 18.22 1.98 485 10 16 -19 2.43 0.05 0.08 (0.10) 20,836 (98) 67 14.8 750.3 449.7 -372.5 0.0 0 .0 0 .3

Ove rs ea s Re al ity OS EA.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 19,258 22.48 0.82 1,330 2,717 1,660 2,609 1.27 2.60 1.59 2.50 (1) 104 (39) 14.5 7.1 11.6 7.4 0.3 1.3 11.6

Full Sector (18) 35,670 0.83 8.2

Manufacturing

ACL Ca bles ACL.N0000 M 67.00 5,230 59.9 4,013 87.32 0.77 214 244 495 3.56 4.08 8.27 5,603 15 18.8 16.4 8.1 1.0 1.5 4.7

Grain Eleva tors GRAN.N0000 D 55.50 2,925 60.0 3,330 48.75 1.14 475 388 426 7.91 6.46 7.10 255 (18) 7.0 8.6 7.8 0.0 0.0 13.3

Ch e vr on L ub ri c an ts L LUB.N0 00 0 D Hold 221. 00 4,154 120.0 26,520 34.62 6.38 1,501 2,001 2,123 2,638 2, 278 12. 51 16.67 1 7.69 21. 98 18. 98 0 33 6 24 17.7 1 3.3 12. 5 10.1 11. 6 11.5 5. 2 48.2

Lanka Wal l ti le LWL.N0000 M 61.50 4,098 54.6 3,358 75.06 0.82 484 731 704 8.87 13.39 12.90 1 51 6.9 4.6 4.8 4.0 6.5 17.8

Pi ra ma l Gl as s GLAS .N0000 M Buy 6.30 3,267 950.1 5,986 3 .44 1.83 579 686 906 1 ,024 717 0 .61 0.72 0.95 1.08 0.75 1,047 19 32 13 10.3 8 .7 6.6 5.8 8.4 0.4 5.7 21.0

Roya l Ce ra mi c RCL.N0000 M Buy 1 03 .2 0 7 ,7 16 1 10 .8 1 1,43 3 69 .6 4 1.48 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 7.9 5.8 6.4 5.0 6.5 2.0 1.9 25.4

Te xt ure d Je rs ey T JL. N0000 M Buy 9.40 5,603 655.0 6,157 8.55 1.10 685 628 914 1,041 735 1.05 0.96 1.40 1.59 1.12 19 (8) 46 14 9.0 9.8 6.7 5.9 8.4 0.5 4.9 11.2

Tokyo Cement TKYO.N0000 M 26.50 6,050 303.8 8,049 19.92 1.33 856 979 561 2.82 3.22 1.85 132 14 9.4 8.2 14.3 1.3 4.9 16.2

Sample Sector (8) 39,042 2,314.1 68,846 16.87 1.76 6,234 7,616 7,668 2.69 3.29 3.31 58 22 11.0 9.0 9.0 20.6 4.2 19.5

Full Sector (36) 106,073 1.55 8.8

Motors

Co loni al Mo tors COLO.N0000 M 155.00 2 ,651 9.1 1,414 290.55 0.53 232 1 ,163 692 1,042 25.39 127.41 75.84 114.18 473 402 (40) 6.1 1.2 2.0 1.4 4.0 2.6 43.9

D ie s el & Mo to r E ng in ee ri ng D IMO .N 000 0 M 61 3. 60 7, 66 7 8 .9 5 ,4 47 8 63 .7 4 0 .7 1 2 ,12 2 2 ,6 97 1 ,8 68 1, 60 5 23 9. 03 3 03 .8 7 21 0. 44 18 0. 86 75 5 2 7 (31) 2.6 2.0 2.9 3.4 40.0 6.5 35.2

Uni te d Motors UML.N0000 M 97.50 6,550 67.3 6,559 97.37 1.00 903 2,275 1,466 2,601 13.42 33.83 21.79 38.66 522 152 (36) 7.3 2.9 4.5 2.5 3.0 3.1 34.7

Sample Sector (3) 16,868 85.3 13,419 197.82 0.80 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 2.6 47.0 4.4 36.4

Full Sector (6) 22,234 1.09 3.5

Oil Palms

Bukit Da rah BUKI.N0000 M 700.00 29,143 102.0 71,400 285.72 2.45 5,111 5,804 2,913 50.11 56.90 28.56 76 14 14.0 12.3 24.5 9.0 1.3 19.9

Sample Sector (1) 29,143 102.0 71,400 285.72 2.45 5,111 5,804 2,913 50.11 56.90 28.56 76 14 14.0 12.3 24.5 9.0 1.3 19.9

Full Sector (5) 102,629 1.96 26.5

Plantations

Bala ngoda BALA.N0000 D 38.70 1,473 23.6 915 62.32 0.62 164 25 79 6.96 1.08 3.35 101 (85) 5.6 36.0 11.5 0.0 1.7

Hora na 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

Kega l le KGAL.N0000 M 110.00 3,169 25.0 2 ,750 126.77 0.87 838 681 673 33.51 27.26 26.92 129 (19) 3.3 4.0 4.1 7.5 6.8 21.5

Kelani Val ley KVAL.N0000 D 83.00 2,397 34.0 2,822 70.51 1.18 321 460 573 9.43 13.54 16.84 852 44 8.8 6.1 4.9 5.0 6.0 19.2

Kotagala KOTA.N0000 M 78.30 2,620 32.0 2,506 81.87 0.96 668 439 556 20.87 13.71 17.37 107 (34) 3.8 5.7 4.5 2.0 2.6 16.7

Watawala WATA.N0000 M 12.30 3,093 236.7 2,911 13.07 0.94 642 413 769 2.71 1.74 3.25 49 (36) 4.5 7.1 3.8 0.4 13.3

Sample Sector (6) 13,825 376.3 12,561 36.74 0.91 2,959 2,089 2,787 7.86 5.55 7.41 136 (29) 4.2 6.0 4.5 15.9 15.1

Full Sector (18) 26,322 0.93 6.6

Power and Energy

Lanka IOC LIOC.N0000 M 20.30 11,492 532.5 10,810 21.58 0.94 877 906 2,039 1.65 1.70 3.83 307 3 12.3 11.9 5.3 0.0 7.9

Val l ibel VPEL.N0000 M 6.70 1,988 747.1 5,006 2.66 2.52 422 254 212 0.57 0.34 0.28 2 (40) 11.9 19.7 23.7 0.3 3.7 12.8

Laugfs Gas LGL.N0000 M 27.90 5,331 387.0 10,797 13.77 2.03 853 942 967 2.20 2.43 2.50 62 1 1 12.7 11.5 11.2 1.5 5.4 17.7

Sample Sector (3) 18,810 1,666.6 26,613 11.29 1.41 2,151 2,102 3,217 1.29 1.26 1.93 315 (2) 12.4 12.7 8.3 11.2

Full Sector (8) 35,508 1.45 10.0

Telecommunications

Di al og Axi ata DI AL.N0000 D 8.60 36,253 8,143.8 70,036 4 .45 1.93 5,047 5 ,354 6 ,521 7 ,569 6 ,511 0 .62 0.66 0.80 0.93 0.80 141 6 22 16 13.9 13.1 1 0.7 9.3 10.8 0.3 2.9 14.8

Sri La nka Tel ecom SLTL.N0000 D 47.20 54,952 1,804.9 85,189 30.45 1.55 3,943 4,781 5,329 4,148 2.18 2.65 2.95 2.30 402 21 11 21.6 17.8 16.0 20.5 0.9 1.8 8.7

Sample Sector (2) 91,205 9,948.6 155,226 9.17 1.70 8,990 10,135 11,850 10,659 0.90 1.02 1.19 1.07 179 13 17 17.3 15.3 13.1 14.6 11.1

Full Sector (2) 155,310 1.70 14.6

Trading

Browns BRWN.N0000 M 128.00 14,316 70.9 9,072 202.00 0.63 2,188 1,169 898 30.87 16.49 12.67 116 (47) 4.1 7.8 10.1 0.5 0.4 8.2

S in ge r S ri La nk a S INS .N0000 D 108. 70 4,826 125.2 13,610 38.54 2.82 668 1,263 1,273 5.34 10.08 10.17 403 89 20.4 10.8 10.7 7.5 6.9 26.2

Sample Sector (2) 19,143 196.1 22,682 97.62 1.18 2,856 2,432 2,171 14.57 12.40 11.07 149 (15) 7.9 9.3 10.4 12.7

Full Sector (8) 27,438 1.19 10.7

Sample Market (70) 917,445 37,832.9 1,759,122 24.25 1.92 118,282 141,888 151,820 176,111 140,178 3.13 3.75 4.01 4.65 3.71 127 20 7 16 14.9 12.4 11.6 1 0.0 12.5 15.5

Total Market (283) 2,244,635 1.80 13.1

Book

Val.

Share

Cap.

Market

Cap.ROE

(%)

Trailing

DY (%)4Q

Trailing

4Q

Trailing

4Q

Trailing

Earnings EPS EPS Growth (%) PER


13/13


Softlogic Equity Research

Dimantha Mathew

[email protected]+94 11 7277030

Akeela Imthinam Rasheed

[email protected]

+94 11 7277032

Crishani Perera

[email protected]

+94 11 7277031

Imalka Hettiarachchi

[email protected]

+94 11 7277004

Softlogic Equity Sales

Dihan Dedigama

[email protected]

+94 11 7277010, +94 77 7689933

Chandima Kariyawasam

[email protected]

+94 11 7277058, +94 77 7885778

Shafraz Basheer

[email protected]

+94 11 7277054, +94 77 2333233

Sonali Abayasekera

[email protected]

+94 11 7277059, +94 77 7736059

Thanuja De Silva

[email protected]

+94 11 7277053, +94 77 3120018

Branches

HoranaMadushanka Rathnayaka

No. 101, 1/1, Aguruwathota Road, Horana

[email protected]

+94 34 7451000, +94 77 3566465

MataraLalith RajapakshaNo. 8A, 2

ndFloor, FN Building,

Station Road, Matara

[email protected]

+94 41 7451000, +94 77 3031159

NegamboKrishan Williams

No. 121, St. Joseph Street Negambo

[email protected]

+94 31 2224714-5, +94 77 3569827

KurunegalaBandula Lansakara

No.13, Rajapihilla Mawatha, Kurunegala

[email protected]

+94 37 2232875, +94 77 3615790

The report has been prepared by Softlogic Stockbrokers (Pvt) Ltd. The information and opinions contained herein has been compiledor arrived at based upon information obtained from sources believed to be reliable and in good faith. Such information has not been

independently verified and no guaranty, representation or warranty, express or implied is made as to its accuracy, completeness orcorrectness. All such information and opinions are subject to change without notice. This document is for information purposes only,descriptions of any company or companies or their securities mentioned herein are not intended to be complete and this document is

not, and should not be construed as, an offer, or solicitation of an offer, to buy or sell any securities or other financial instruments.Softlogic Stockbrokers (Pvt) Ltd may, to the extent permissible by applicable law or regulation, use the above material, conclusions,research or analysis in which they are based before the materialized disseminated to their customers. Not all customers will receive

the material at the same time. Softlogic Stockbrokers, their respective directors, officers, representatives, employees, related personsand/or Softlogic Stockbrokers, may have a long or short position in any of the securities or other financial instruments mentioned orissuers described herein at any time and may make a purchase and/or sale, or offer to make a purchase and/or sale of any such

securities or other financial instruments from time to time in the open market or otherwise, in each case either as principal or agent.Softlogic Stockbrokers may make markets in securities or other financial instruments described in this publication, in securities ofissuers described here in or in securities underlying or related to such securities. Softlogic Stockbrokers (Pvt) Ltd may have recentlyunderwritten the securities of an issuer mentioned herein. This document may not be reproduced, distributed, or published for any

purposes.

weekly plus - 2013 issue 04 (24.01.2013)

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