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Saturday, 29 September 2012 15:57 | News.lk
The
Embassy of Sri Lanka in Tokyo organized a highly select Seminar mostly
consisting of Institutional investors and Ultra High Networth Individuals
(UHNIs) from the Japan based Bensei Securities as well as other foreign
investors.
The
three hour Seminar, including that of several addresses and speeches, was held
at the Conference Hall of the Embassy.
The
Bensei Securities of Japan has been to Sri Lanka on several occasions and has a
firm commitment to invest SLRs. 15 billion (USD 120 million) in the debt
market, in particular, in Sri Lanka. The Bensei Securities has already
committed investments of approximately SLRs. 3 billion in the debt market of
Sri Lanka. According to the senior management and analysts of Bensei
Securities, the company is highly bullish and optimistic of the equity and debt
market of Sri Lanka as well as of the potential of the economy of Sri Lanka.
At
the Seminar, the welcome address was delivered by the Ambassador of Sri Lanka,
Admiral Wasantha Karannagoda. In his address, Ambassador Admiral Karannagoda
expounded the newly emerged economic, commercial and investment opportunities
in the country as well as the potentiality of Sri Lanka to become a hub in
financial services, aviation, ports, knowledge, outsourcing and tourism not
only in South Asia but in the entire continent of Asia. He also informed about
the amount of funds expended for infrastructural development projects by the
ADB, the World Bank, JICA, Exim Bank of China and other financial donor
agencies. This amount is approximately USD 1.2 billion per year.
He
further impressed the importance of connectivity, integration and regionalism
of Sri Lanka with the countries in the region as well as with countries in
different continents, which would accommodate, augment and facilitate economic,
investment, trade and commercial advancement of Sri Lanka, on a mutual basis.
With absolute peace, stability, opportunities and rule of law with a practicing
Democracy, Sri Lanka is well positioned to become a highly sought after
emerging economy in the region. Ambassador Admiral Karannagoda also highlighted
and underlined the prospects in the country for foreign direct investments,
foreign institutional investments, investments in the tourism and hospitality
sector and of course the impressive economic growth rates in the vicinity of
7.0 to 7.5% estimated in 2012 and the growth rate of 8.3% in 2011, among
others.
The
Chief Executive Officer of Bensei Securities, Mr. Toyohiko Murakami, addressed
the select audience with regard to the positive prospects of the macro and
micro economic policies of Sri Lanka as well as the opportune timing to commit
investments in the equity and in the debt market. He further made parallels and
comparisons with other emerging and developing economies around the world, and
urged the select audience to take the advantage of Sri Lanka with regard to
accruing a higher and safer Return on Investment (RoI) and Return on Equity
(RoE) in the Capital market of Sri Lanka.
The
General Manager of Bensei Securities, Mr. Katsuhiko Hiroshige, also spoke of
the economy of Sri Lanka and the most effective manner of investing in the debt
market, thus demonstrating the highest possible return on investments. The
Chairman of New World Securities, Mr. Takashi Igarashi, also addressed the
favourable economic climate for investments in Sri Lanka. The New World
Securities has a strong presence in Sri Lanka and Mr. Igarashi has been in Sri
Lanka for over two decades. After the conclusion of the formal addresses and
speeches, the select audience posed questions and clarifications to the
respective speakers in order to be clear of the objectives of investments in
Sri Lanka.
The
closing remarks were delivered by the Managing Director of Bensei Securities,
Mr. Akio Shimamoto, encompassing the key and salient issues, features and
opportunities of investments in the equity and debt market in Sri Lanka. Most
of them were impressed of the economic and financial tapestry of Sri Lanka as
well as of the visible positive prospects of the Capital market. The Commercial
Counsellor of the Embassy, Mr. M Somasena, organized this Seminar with the
assistance of other officials of the Embassy.
