Wednesday 2 February 2011
All Share Price Index records all time high again in Colombo Bourse
Sri lanka stock indices gained amidst aggressive retail buying on Wednesday the 2 February, 2011. Stocks which created short term rallies in Poultry and Manufacturing sectors recently, witnessed further interest. Large cap counters continued to underperform small and mid caps which is a cause for concern according to brokers.
The All Share Price Index (ASPI) closed at 7,262.26 points, up 0.99% by 71.49 points and the Milanka Price Index (MPI) closed at 7,150.94 points, up 0.42% by 29.66 points during the day. Turnover was at Rs.4.1 billion topped 28.78% with a total volume of 111.2 million shares changing hands rose 15.49%. Foreign purchases rose 10.45% to Rs.211.2 million and foreign sales also increased by 38.39% to Rs.234.4 million. Price to forward Earnings Ratio (PER) appreciated by 1.1% to 27.5 times.
Manufacturing and Beverage, Food & Tobacco sectors were the highest contributors to the market turnover. While both indices increased by 1.68% and 1.36% respectively. Three Acre Farms (TAFL) made the highest contribution to the market turnover while the share price increased by Rs.34.70 (18.91%) and closed at Rs.53.90. Three crossings were recorded including Lanka Walltile (LWL) 600,000 shares at Rs. 165 and Laugfs Gas non-voting (LGL.X) 500,000 shares at Rs.40.50 and Sampath Bank (SAMP) 200,000 shares at Rs.299 per share. HDFC Bank announced an interim dividend of Rs.5.00 per share.
Among the positive contributors were Carsons Cumberbatch (CARS) which rose 2.02% by Rs.11 closing at Rs.560 and CT Holdings (CTHR) that rose by Rs.13 at 6.19% closing at Rs.224.
Globally, the Dow Jones Industrial Average closed above 12000 on yesterday for the first time since June 2008. Asian markets ended higher today on solid Wall Street gains and as investors looked beyond the ongoing unrest in Egypt. Nikkei climbed 1.8%.
Sri Lankan Secondary Debt Market Yields were marginally down in the Treasury Bills primary auction yesterday. Secondary market Treasury bond yields slightly decreased, while the market activity was high.
Sri Lankan Rupee appreciated slightly as the exchange rate was recorded at Rs.110.95 to Rs.110.98 per US Dollar
The All Share Price Index (ASPI) closed at 7,262.26 points, up 0.99% by 71.49 points and the Milanka Price Index (MPI) closed at 7,150.94 points, up 0.42% by 29.66 points during the day. Turnover was at Rs.4.1 billion topped 28.78% with a total volume of 111.2 million shares changing hands rose 15.49%. Foreign purchases rose 10.45% to Rs.211.2 million and foreign sales also increased by 38.39% to Rs.234.4 million. Price to forward Earnings Ratio (PER) appreciated by 1.1% to 27.5 times.
Manufacturing and Beverage, Food & Tobacco sectors were the highest contributors to the market turnover. While both indices increased by 1.68% and 1.36% respectively. Three Acre Farms (TAFL) made the highest contribution to the market turnover while the share price increased by Rs.34.70 (18.91%) and closed at Rs.53.90. Three crossings were recorded including Lanka Walltile (LWL) 600,000 shares at Rs. 165 and Laugfs Gas non-voting (LGL.X) 500,000 shares at Rs.40.50 and Sampath Bank (SAMP) 200,000 shares at Rs.299 per share. HDFC Bank announced an interim dividend of Rs.5.00 per share.
Among the positive contributors were Carsons Cumberbatch (CARS) which rose 2.02% by Rs.11 closing at Rs.560 and CT Holdings (CTHR) that rose by Rs.13 at 6.19% closing at Rs.224.
Globally, the Dow Jones Industrial Average closed above 12000 on yesterday for the first time since June 2008. Asian markets ended higher today on solid Wall Street gains and as investors looked beyond the ongoing unrest in Egypt. Nikkei climbed 1.8%.
Sri Lankan Secondary Debt Market Yields were marginally down in the Treasury Bills primary auction yesterday. Secondary market Treasury bond yields slightly decreased, while the market activity was high.
Sri Lankan Rupee appreciated slightly as the exchange rate was recorded at Rs.110.95 to Rs.110.98 per US Dollar
2018 Commonwealth Games
Lanka has submitted its bid to host the 2018 Commonwealth Games in the southern coastal city of Hambantota. The Indian Ocean island’s bid, if successful, will mark the first time the games are held in the country.
In a statement, the Commonwealth Games Federation (CGF) President Mike Fennel confirmed receipt of Sri Lanka’s bid by the March 31 deadline.
“It is most pleasing to have two cities from different regions of the Commonwealth vying for the right to host the 2018 Games,” Fennell said. The other bid is from Australia’s Gold Coast.
This, however, is the first step in a long process before the announcement of the winning bid in November 2011.
“This is the initial one [step], taken by the bidding team,” Maxwell De Silva, secretary general of the National Olympic Committee told Sri Lanka News Network. “We need to make a comprehensive presentation on what we are going to do, and submit a blueprint at a meeting in the Caribbean next year, where the final decision will be made.”
The Commonwealth Games have been held in Australia on four occasions, latest in 2006, since the founding of the international sporting event in 1930, and that gives Sri Lanka the opportunity to make a strong bid for the 2018 games.
The Hambantota district is leading a new phase of development in the country following the end of a 30-year civil war.
“We have a responsibility to rebuild the country under a stable government after terrorism was eradicated,” President Mahinda Rajapaksa told ruling party supporters at the town hall in Suriyawewa in the Hambantota district, Wednesday.
Rajapaksa also announced that an international cricket tournament would be held at the Suriyawewa international cricket stadium by July this year.
Asked for his comments on Sri Lanka’s bid to host the 2018 Commonwealth Games, the president’s Media Coordinating Director Chandrapala Liyanage said that by 2018 the construction of the port, airport, hotels, sports facilities and other infrastructure developments in Hambantota would be completed and that he was confident that the city would be ready to host the games.
The Commonwealth Games, held every four years, will take place in New Delhi in October this year and in Glasgow, Scotland, in 2014.
In a statement, the Commonwealth Games Federation (CGF) President Mike Fennel confirmed receipt of Sri Lanka’s bid by the March 31 deadline.
“It is most pleasing to have two cities from different regions of the Commonwealth vying for the right to host the 2018 Games,” Fennell said. The other bid is from Australia’s Gold Coast.
This, however, is the first step in a long process before the announcement of the winning bid in November 2011.
“This is the initial one [step], taken by the bidding team,” Maxwell De Silva, secretary general of the National Olympic Committee told Sri Lanka News Network. “We need to make a comprehensive presentation on what we are going to do, and submit a blueprint at a meeting in the Caribbean next year, where the final decision will be made.”
The Commonwealth Games have been held in Australia on four occasions, latest in 2006, since the founding of the international sporting event in 1930, and that gives Sri Lanka the opportunity to make a strong bid for the 2018 games.The Hambantota district is leading a new phase of development in the country following the end of a 30-year civil war.
“We have a responsibility to rebuild the country under a stable government after terrorism was eradicated,” President Mahinda Rajapaksa told ruling party supporters at the town hall in Suriyawewa in the Hambantota district, Wednesday.
Rajapaksa also announced that an international cricket tournament would be held at the Suriyawewa international cricket stadium by July this year.
Asked for his comments on Sri Lanka’s bid to host the 2018 Commonwealth Games, the president’s Media Coordinating Director Chandrapala Liyanage said that by 2018 the construction of the port, airport, hotels, sports facilities and other infrastructure developments in Hambantota would be completed and that he was confident that the city would be ready to host the games.
The Commonwealth Games, held every four years, will take place in New Delhi in October this year and in Glasgow, Scotland, in 2014.
Bio-mass energy for national grid
Mega Ten Bioenergy will start its production of biomass energy from Gliricidia fuel wood by 2011 end and the production will contribute to the national grid with 10 megawatts.
Shenzhen Full Dimension Sustainable Energy Investment Co Ltd of China (FUDEICO) together with IMS Holdings will invest US $ 15.23 million in this Gliricidia Sepium Biomass Power Station in Kumbukana in Moneragala district, Mega Ten Bioenergy Director Jinawara Dharmawardana said. The agreement for the joint venture investment was signed yesterday. Shenzhen Full Dimension Sustainable Energy Investment of China (FUDEICO) has invested 70 percent while IMS Holdings will invest the rest.
The construction of the power station will start in February 2011 and it could generate 60 direct job opportunities while there will be 100 indirect job opportunities in transporting and cultivating Gliricidia wood. “We have already obtained a 10 hectare plot of land on long lease from the Janatha Estates Development Board in Moneragala.”
The plant is in the full capacity of 12 megawatts while two megawatts will be utilised for factory use,” he said. IMS Holdings (Pvt) Ltd are currently negotiating to start a similar biomass production plant in Ridimaliyadda,Bibile with a capacity for 25 megawatts. IMS Holdings has signed a Standard Power Purchasing Agreement with Ceylon Electricity Board to sell a unit at Rs 18.56 for 20 years to the national grid.
The Gliricidia Sepium Biomass Power Station is the first biomass power station of the kind and has realized that there are possibilities of using sugarcane wastage as a biomass crop. The Government will introduce the use of natural gas to meet energy needs of Sri Lanka.
Shenzhen Full Dimension Sustainable Energy Investment Co Ltd of China (FUDEICO) together with IMS Holdings will invest US $ 15.23 million in this Gliricidia Sepium Biomass Power Station in Kumbukana in Moneragala district, Mega Ten Bioenergy Director Jinawara Dharmawardana said. The agreement for the joint venture investment was signed yesterday. Shenzhen Full Dimension Sustainable Energy Investment of China (FUDEICO) has invested 70 percent while IMS Holdings will invest the rest.
The construction of the power station will start in February 2011 and it could generate 60 direct job opportunities while there will be 100 indirect job opportunities in transporting and cultivating Gliricidia wood. “We have already obtained a 10 hectare plot of land on long lease from the Janatha Estates Development Board in Moneragala.”
The plant is in the full capacity of 12 megawatts while two megawatts will be utilised for factory use,” he said. IMS Holdings (Pvt) Ltd are currently negotiating to start a similar biomass production plant in Ridimaliyadda,Bibile with a capacity for 25 megawatts. IMS Holdings has signed a Standard Power Purchasing Agreement with Ceylon Electricity Board to sell a unit at Rs 18.56 for 20 years to the national grid.
The Gliricidia Sepium Biomass Power Station is the first biomass power station of the kind and has realized that there are possibilities of using sugarcane wastage as a biomass crop. The Government will introduce the use of natural gas to meet energy needs of Sri Lanka.
Sunday 30 January 2011
Sri Lanka's immediate goal is to construct and launch two satellites by 2012. Sri Lankan Telecommunications Regulatory Commission has signed an agreement with Surrey Satellite Technology Ltd to get relevant help and resources. But is this possible, as sri lanka has got many problems to solve in coming decade. Many countries include britain has already given up the idea has it cost lots of money and time.
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