Asia Securities - Research & Reports

The Colombo Bourse concluded a revived week on a bullish note despite of the activity levels remaining stable. Consequently, the All Share Index gained 89.9 points WoW to close at 5,982.9 points (+1.5%), whilst the Milanka Price Index also gained by 55.2 points WoW to close at 5,189.9 points (+1.1%). Indices benefitted mainly on the back of the gains made by Sri Lanka Telecom (+4.4% WoW), Vallibel One Limited (+10.0% WoW), Lanka Orix Leasing Company (+5.6% WoW), Union Assurance (+22.9% WoW), Lanka Hospital Corporation (+14.3% WoW), Singer Sri Lanka (+9.3% WoW) & Aitken Spence Hotel Holdings (+6.2% WoW).

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The Colombo Bourse concluded yet another week on a sluggish note with the activity levels remaining below par, reaffirming the continuous struggle with a year to date performance of negative 11.2%. Consequently, the All Share Index dipped 103.8 points WoW to close at 5,892.7 points (-1.7%), whilst the Milanka Price Index also dipped by 96.4 points WoW to close at 5,134.7 points (-1.8%).

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The Colombo Bourse predominantly remained in the red during the week as opposed to the upward run witnessed in the first week of December. The All Share Index shed 91.4 points WoW to close at 5996.4 points (-1.5%) while the Milanka Price Index on liquid counters also lost 15.5 points WoW to close at 5231.1 points (-0.3%).

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Investor concerns fall on deaf ears.. Colombo bourse showed volatility during the week putting more emphasis on speculation. The All Share Index gained a satisfactory 282.1 points WoW to close at 6,087.9 points (+4.9%), reentering the 6,000 support level after the previous week’s crash in to 5,000 levels. The Milanka Price Index also gained 193.7 points WoW to close at 5,246.6 points (+3.8%). The gains in the All Share Index was mainly led by the price appreciations recorded by Ceylon Tobacco (+9.9% WoW) followed by Environmental Resources Investments (+41.1% WoW), The Lanka Hospital Corporation (+44.7% WoW), Aitken Spence Hotel Holdings (+15.8% WoW) and Singer Sri Lanka (+18.2% WoW).

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Company Reports

ROYAL CERAMICS LANKA PLC INTERIM UPDATE- 2QFY12

Tile star Royal Ceramics Lanka PLC (RCL) focused its efforts on being a brand leader in its industry. The new entrant to the Milanka Price Index has interests in porcelain tiles ceramic tiles, bathware and newly to paints & allied products

Hatton National Bank PLC Company Update as at 3QFY11

Hatton National Bank (HNB) is the second largest private Licensed Commercial Bank in Sri Lanka with an asset base of LKR379 bn as at end September 2011. Bank, together with its subsidiaries, provides banking and related services in Sri Lanka and internationally.

TKYO CEMENT LANKA INTERIM UPDATE - 2QFY12

We initiate our coverage of Tokyo cement with a strong buy recommendation in lieu of its financial strength and its strong growth prospects. Despite the accelerated post-war growth of the construction sector, Tokyo’s stock is trading at a discount reflecting a 6-year revenue and EPS CAGR of 12.6% and 5% respectively.

GLASS-2QFY12_INTERIM_UPDATE

Glass giant Piramal Glass Ceylon PLC (GLAS) is a domestic monopoly and a manufacturer of flacconage glass for food and beverages, cosmetics, perfumery, as well as pharmaceutical sectors. The company continues with its simple yet steadfast objective of fully serving the domestic market which is well on its way to recovery as well as increasing the business in the specialized liquor and beverage segment in the international markets.

NEWS & EVENTS

DIVIDEND ANNOUNCEMENT - HAYL, AEL, CHMX, WATA 2012-05-18
Interim financial statements 31-03-2012 2012-05-18
CHANGE OF DIRECTORATE - CHMX, WATA 2012-05-18
DIVIDEND ANNOUNCEMENT - HAYL, AEL, CHMX 2012-05-18
RIGHTS ISSUE OF SHARES 2012 - VLL 2012-05-18