Volume 26

Weekly Review by Asia Wealth Management Research

28 June 2013

Focus
Colombo Stock Market

Weekly Review by Asia Wealth Management Research

In This Issue;

ASI Daily Closing

Bourse loses grip, whilst large scale trades strengthen

weeks turnover
The market activities during the week were
primarily on a descending mode as retailers continued to
remain on the side line, whilst foreign and institutional
participation strengthened the weeks turnover.
Pg 02
Quarterly Earnings Review

Pg 03

Colombo Bourses Billion Rupee Club

Table below shows the members who have
qualified to be a part of Asia Wealth Researchs Billion Rupee
Club.
Pg 09
Analysis of Various Warrants Listed on CSE

Pg 10

Major
Price Prices
Movements
Commodity

Pg 12

Interpretation seems to be the hardest word...

The market seemed to be grappling with difficulty to
decipher information on revising its direction to reflect the
changes that surfaced at the global level and its interaction
with the domestic monetary policy developments during the
week coupled with domestic growth concerns.
Pg 13

Major Price Movements

Company
Hotel Services

(ASI)
6,350

(LKR mn)
4,000

6,300

3,500

6,250

3,000

6,200

2,500

6,150

2,000

6,100

1,500

6,050

1,000

6,000

500

5,950

0
11- 12- 13- 14- 17- 18- 19- 20- 21- 24- 25- 26- 27- 28Jun Jun Jun Jun Jun Jun Jun Jun Jun Jun Jun Jun Jun Jun
Turnover
ASI closing

Market Statistics
All Share Index
S & P SL 20 Index
Banking & Finance
Food & Beverage
Diversified
Hotels & Travels
Telecommunication
Manufacturing
Market Capitalisation

(LKR bn)
(USD bn)
Turnover
(LKR mn)
(USD mn)
Average Daily Turnover (LKR mn)
Volume
(mn shares)
Foreign Purchases
(LKR mn)
Foreign Sales
(LKR mn)

21-Jun

% Chg.

6,121.01
6,155.27
3,431.74
3,466.57
13,337.89 13,259.86
19,081.43 19,164.98
1,958.40
2,011.13
3,430.76
3,437.54
159.86
160.97
3,088.99
3,063.76
2,350.70
2,363.90
18.02
18.47
4,501.40
4,986.50
34.51
38.96
900.30
997.30
170.70
86.40
1,062.30
3,441.30
2,088.90
3,269.50

28-Jun

-0.6
-1.0
0.6
-0.4
-2.6
-0.2
-0.7
0.8
-0.6
-2.4
-9.7
-11.4
-9.7
97.6
-69.1
-36.1

Large Trades
Price
12.2

+/-LKR
-2.6

+/- %
-17.6

Company
Nanda Investments And Finance

Volume
91,659,783

Pc Pharma

3.7

-0.7

-15.9

John Keells Holdings

6,968,128

Pc House

1.7

-0.3

-15.0

E-Channeling

5,542,507

-14.4

Touchwood

3,664,461

Seylan Merchant Bank

3,414,919

Pc House

3,360,631

Central Investment & Finance

2,810,914

Expolanka Holdings

2,335,605

Commercial Bank Of Ceylon

2,327,251

Nation Lanka Finance

2,016,365

Colombo Investment Trust

Asia Siyaka Commodities
Hnb Assurance
Ceylinco Insurance
Central Investment & Finance
Chilaw Finance
Ceylon Leather Products

125.0

-21.0

2.4

-0.3

-11.1

56.0

4.8

9.4

1150.0

170.0

17.3

1.9

0.3

18.8

13.4

2.2

19.6

87.9

14.6

19.9

Weekly Review by Asia Wealth Management Research

28 June 2013

Highlights for the week

Bourse loses grip, whilst large scale trades strengthen weeks turnover
The market activities during the week were primarily on a descending mode as retailers continued to remain on the side
line, whilst foreign and institutional participation strengthened the weeks turnover. The ASI shed 34.3 points WoW to
close at 6,121.01 points (-0.6%), whilst the S&P SL20 Index lost 34.8 points WoW to close at 3,431.74 points (-1.0%).
Indices dipped mainly on the back of losses made by John Keells Holdings (-4.9% WoW), Nestle Lanka (-2.5% WoW),
Carsons Cumberbatch (-2.2% WoW), George Steuart Finance (-10.7% WoW) and Ceylon Brewery (-8.5% WoW).
The bourse gradually trended downward during the first three days of the week with majority of the counters losing grip.
However, it gained momentum on Thursday with large cap counters making gains, whilst foreign and institutional
participation strengthened the weeks turnover. Meanwhile, the trading hours were restricted on Friday due to a technical
issue in the trading system which delayed the opening of the market. Majority of the small to medium scale counters
witnessed dip in prices amidst subdued retail participation. It must be noted that irrespective of the weekly turnover being
largely driven by foreign participation, foreign sales remained high throughout the week resulting in a net foreign out flow
of LKR1,026.6mn for the week. Further, the CBs announcement regarding the 200 bps cut in SRR came on Wednesday
prior to the opening of the market, however the market witnessed lackluster performance during the day, whilst it recovered
on Thursday. We believe that the cut in SRR by the CBSL is likely to result in a downward trend in market interest rates
and support the financial performance of the listed companies.
With regard to the largest contributors towards the turnover, conglomerate John Keells Holdings took the lead during the
week, contributing c. 38%, whilst witnessing crossings amounting to over 6.1mn shares at LKR247.0. Meanwhile, Nanda
Investment and Finance saw over 85mn shares which constitute for 90.0% of the stated capital being traded at a price of
LKR9.00. According to the announcement made to the CSE, the company was acquired by BRAC, a large Bangladesh
based foreign microfinance entity and Lanka Orix Leasing Company. Moreover, Distilleries, Sampath Bank,
Commercial Bank, Ceylon Tobacco Company, and Lion Brewery also witnessed crossings trades during the week;
whilst some of these large cap counters saw several block transactions on the normal board.
Furthermore, Nanda Investments And Finance, John Keells Holdings, E-Channeling, Touchwood and Seylan
Merchant Bank topped the list in terms of volume traded during the week.
The week saw foreign purchases amounting to LKR 1,062.3 mn whilst foreign sales amounted to LKR 2,088.9 mn. Market
capitalisation stood at LKR 2,350.7bn and the YTD performance is 8.5%.

A member of Asia Capital Group

Weekly Review by Asia Wealth Management Research

28 June 2013

Quarterly Earnings Review

Market Earnings Review
The overall market earnings for 1QCY2013 grew merely by 2% YoY to LKR 53,026m amidst the unfavourable economic
conditions that prevailed during the quarter. YoY dip in the earnings of key sectors such as Bank, Finance and Insurance
sector (-14% YoY), Diversified sector (-2% YoY), Beverage, Food and Tobacco sector (-27%) and Construction
sector (-10%) largely curbed the market earnings growth despite sectors such as Hotels and Travels sector (+49% YoY),
Manufacturing sector (+13% YoY), Land and property sector (+77% YoY) and Oil palm sector (+18% YoY)
witnessing growth.
Meanwhile the market earnings witnessed a 18% QoQ dip for 1QCY13 as Bank Finance and Insurance sector (-58%
QoQ), Land and Property sector (-68% QoQ), Plantation sector (-40% QoQ), Health sector (-54% QoQ) and
Chemical and Pharmaceutical sector (-53% QoQ) primarily dragged down the quarterly earnings. However, Diversified
sector (+18% QoQ), Food Beverage and Tobacco (+87% QoQ), Manufacturing sector (+26% QoQ), Oil Palm sector
(+90% QoQ), Telecommunication sector (+76% QoQ) and Power and Energy sector (7% QoQ) witnessed growth for
the period.
High interest rates that prevailed during the period can be considered as the common factor across the sectors which
unfavourably affected the earnings of the companies to a great extent and restricted new investments and credit growth. In
addition, increase in the production and energy cost and slowdown in consumer demand due to inflationary pressure also
impacted several companies. Further, the QoQ earnings mainly dipped due to few large capital gains being recording
during 4QCY2012.
LKR mn

LKR mn

70000

Market Snapshot (Jan-Mar 2012/2013)

1800
1600
1400
1200
1000
800
600
400
200
0

Market quartely Earnings

60000

50000
40000

30000
20000
10000

5800
5700

5600
5500
5400

5300
5200
Jan

Mar'13

Dec'12

Sep'12

Jun'12

Feb

Mar

Mar'12
Turnover (mn) 2012

Source: Company, Asia Wealth Research

Index
5900

Turnover (mn) 2013

2012 ASI

2013 ASI

Source: CSE, Company, Asia Wealth

Research

We remain optimistic on the Bank, Finance and Insurance sector following the recent policy changes and the cut in
SRR which is likely to reduce the market interest rates and improve demand for credit from the private sector (which has
been slowing down during the first few months of 2013) , whilst the Construction sector is likely to post healthy earnings
on the back of ongoing developments and anticipated dip in borrowing costs, whilst energy intensive companies and
Manufacturing sector are likely to be challenged in the short term following the hike in electricity tariff. However,
manufacturing companies who have internalised their energy requirements and companies who have the ability to pass the
cost increase to the end customers are likely outperform their peers financial performance.

3
A member of Asia Capital Group

Weekly Review by Asia Wealth Management Research

28 June 2013

EARNINGS (LKR mn)

SECTORS
FINANCIAL SERVICES
BEVERAGE FOOD AND TOBACCO
CHEMICALS & PHARMACEUTICALS
CONSTRUCTION
DIVERSIFIED
FOOTWEAR AND TEXTILES
HOTELS AND TRAVELS
INVESTMENT TRUST
LAND AND PROPERTY
MANUFACTURING
MOTORS
OIL PALMS
PLANTATIONS
HEALTH SERVICES
SERVICES
STORES AND SUPPLIES
TRADING
POWER & ENERGY
INFORMATION TECHNOLOGY
TELECOMMUNICATIONS

MAR'13
12,336
5,857
328
1,046
11,697
(250)
3,864
1,995
815
3,810
639
2,255
1,215
847
590
111
670
1,307
(387)
3,181

MAR'12
14,401
8,052
431
1,160
11,953
(291)
2,596
233
460
3,372
2,105
1,914
1,210
372
686
229
1,504
584
(26)
(166)

% CHANGE
-14%
-27%
-24%
-10%
-2%
n/m
49%
756%
77%
13%
-70%
18%
0%
127%
-14%
-52%
-55%
124%
n/m
n/m

Source: Company filings, Asia Wealth

Research

Earnings Review of Key Sectors

Bank, Finance and Insurance
The sector claims to be the largest both in terms of market capitalization and earnings. During 1QCY2013, Bank, Finance
and Insurance sector contributed c. LKR12.3bn to the total market earnings, which accounts for c. 23% of the total market
earnings. The sector witnessed a 14% YoY dip, out of which the banks witnessed a 11.8% YoY drop whilst the finance
companies saw a significant YoY decline of 36% in profits, during 1QCY2013 .
The dip in profits was mainly due to the high interest rates that prevailed during the quarter, which resulted in the banks
witnessing their deposit base growing at a faster pace than loans & advances. Further, the appreciation of the LKR during
1QCY2013 and the slowdown in the countrys external trade also resulted in the banks earning a substantially lower
foreign exchange profits compared to 1QCY2012. Further, loan books of finance companies, which primarily constitute
of vehicle leases and hire purchases, witnessed a slowdown in tandem with the marked decline in vehicle sales.
Top contributors towards the sector quarterly earnings were; Commercial Bank (18%), followed by Hatton National Bank
(10%) and Sampath Bank (9%). The 50bps policy rate cut in May 2013 coupled with the 2% cut in the Statutory Reserve
Requirement (SRR) in June is likely to reduce the market interest rates and boost demand for credit in the medium term.
Banking and Finance (Quartely Earnings)
25,000
20,000
15,000
10,000

Source: Company,Asia Wealth Research

5,000
Mar'13

Dec'12

Sep'12

Jun'12

Mar'12

4
A member of Asia Capital Group

Weekly Review by Asia Wealth Management Research

28 June 2013

Beverage, Food and Tobacco

Earnings during 1QCY2013 dipped 27.3% YoY to LKR 5.9bn. Ceylon Cold Stores, which dominated the sector
contributing 24.3% to the total sector earnings, included a massive 482% YoY increase in other income, whilst Ceylon
Tobacco with a contribution of 21% and Distilleries with a contribution of 14% followed it. Escalation of energy and raw
material prices, high interest rate and slowdown in demand due to inflationary conditions resulted in the poor performance.
Earnings of Ceylon Tobacco saw a c. 2% YoY dip as a result of the drop in volumes due to increase in excise taxes
imposed by the GOSL. With the negative publicity towards tobacco products and increase in regulations, we expect
cigarette volumes to further reduce in the future. Further Ceylon Cold Stores the market leader in producing carbonated
drinks and ice creams in Sri Lanka also witnessed, 8% YoY dip in earnings where the company witnessed drop in gross
profits, as cost of sales accelerated at a faster pace than revenues due to the negative impact from the VAT imposed on
retail businesses. Distilleries Company of Sri Lanka witnessed c. 62% YoY dip during 1QCY2013 primarily due to a nonrecurring item being accounted in 1QCY2012 and due to the lower associate profits recognized during the period.
On a futuristic perspective, we expect the Food and Beverage sector to experience a slow growth or to be stagnated in the
short term due to inflationary pressures (increase in energy costs and imported goods being costly due to high import taxes
and the depreciation of the LKR) suppressing the level of consumption. However, the growth in tourist arrivals has a
positive impact especially on the soft liquor and hard liquor segment.
Food,Beverage and Tobacco (Quartely Earnings)

LKR mn
9,000
8,000

7,000
6,000
5,000
4,000
3,000

2,000
1,000
Mar'13

Dec'12

Sep'12

Jun'12

Mar'12

Source: Company,Asia Wealth Research

Diversified
The 1QCY2013 earnings of the second largest sector at the Colombo bourse, (represents approx. 20% of the total market
capitalization) dipped 2% YoY, whilst it witnessed a 18% growth QoQ. It must be noted that under the diversified sector,
only 8 companies out of the 18 companies have witnessed growth in their earnings for 1QCY2013. Earnings of
conglomerate giant John Keells Holdings rose by 28% YoY, whilst the operating earnings of the group for the period
plunged 20% YoY, mainly owing to a marginal growth of 3% YoY in revenue, a 90% YoY drop in other operating income
and increase in COGS. However, reduction in finance cost, significant increase in interest income coupled with change in
fair value of investment property led the group to witness growth in its earnings. Hemas Holdings witnessed an
impressive growth of 59% YoY in its net earnings as a result of the 10.3% YoY growth in revenue mainly driven by its
largest segments - FMCG and Health Care.

Moreover, earnings of Aitken Spence dipped 32% YoY during 1QCY2013 owing to a 3% dip in revenue, a net foreign
exchange loss incurred cf. net forex gain recorded during 1QCY2012 and an one-off gain on disposal of an investment in
1QCY2012. Meanwhile, Hayleys witnessed a commendable growth of 175% for the period owing to a YoY growth of
15% in the top line mainly driven by the performance of its Global Markets & Manufacturing segment and the

5
A member of Asia Capital Group

Weekly Review by Asia Wealth Management Research

28 June 2013

Transportation and Logistics segment and the reduction in finance cost, whilst Carson Cumberbatch enjoyed a 44% YoY
growth in net earnings for the period, largely due to reduction in indirect expenses coupled with the change in fair value of
investment property.
Diversified companies which are moving towards sustainable power generation are likely to benefit due to the attractive
rates given, whilst companies that are highly exposed to foreign currency earnings are likely to benefit if the depreciation
of LKR persists. Moreover, companies who have relatively high exposure to demand inelastic sectors such as FMCG and
Health are likely to outperform their peers. However, hike in electricity cost, coupled with the increasing cost of
production are likely to hinder the companies which are largely exposed towards the local market.
Diversified (Quartely earnings)
14,000
12,000
10,000
8,000
6,000
4,000
2,000
-

Mar'13

Dec'12

Sep'12

Jun'12

Mar'12

Source: Company,Asia Wealth Research

Hotels and Travels

The Hotels and Travels sector, which accounts for c. 7% of the total market capitalization, witnessed an impressive YoY
growth of 48.8% in earnings during 1QCY2013, underpinned by increase in tourist arrivals, relatively high ARR,
completion of refurbishment in many hotels and non-recurring gains reported by few hotels. However, the appreciation of
LKR in 1Q2013 cf. 1Q2012 is likely to have restricted the growth. The sector earnings was primarily driven by; Aitken
Spence Hotel Holdings, which witnessed a 36% YoY earnings growth, whilst witnessing a healthy 24% YoY increase in
net revenue, Sigiriya Village which saw a YoY growth of 126%, Serendib Hotels which saw a 134% YoY growth and a
126% YoY growth witnessed in Trans Asia. During the quarter, some of the companies witnessed significant growth
aided by few nonrecurring items which also partially contributed to the growth in reported earnings. Sigiriya Village
included a revision in deferred tax in their earnings and Dolphin Hotels carried an exchange gain from a an exchange loss
reported over the same period last year, whilst Tran Asia reported a change in fair value of investment property.
Moreover, the premier city hotel group; Asian Hotels and Properties witnessed a YoY dip of 8% in their earnings
primarily owing to a decrease in occupancy level, despite benefiting from a revaluation gain from investment property. Its
noted that out of the 33 companies in the sector, only 15 companies have witnessed growth in profits and whilst the others
have either continued to make losses or witnessed dip in profits.
Despite the country witnessing a growth in tourist arrivals, the YoY growth momentum has been slowing down and the
occupancy levels have been trending downward. The Sri Lankan hotel industry, which is perceived to be overpriced cf. to
regional peers, could also be one of the reasons for the growth to slow down. Thus, we believe that; unless the country is
able to attract high spending tourists, star class hotels
are likely to witness a slowdown in their occupancy levels, which is likely to be further aggravated by the new entrants
who will increase the number of star class rooms. However, the sector is likely to benefit from the depreciation of LKR.
Further, a 40% wage hike, which came in to effect this year coupled with the increase in the electricity tariff will remain as
challenges for the hotel industry.

6
A member of Asia Capital Group

Weekly Review by Asia Wealth Management Research

28 June 2013

Hoels & Travels (Quartely Earnings)

LKR mn

4,500
4,000

3,500
3,000
2,500

2,000
1,500

1,000
500
-

Mar'13

Dec'12

Sep'12

Jun'12

Mar'12

Source: Company,Asia Wealth Research

Manufacturing
Sector earnings for 1QCY2013 saw a 13.5% YoY growth to c. LKR 3.9bn. Appreciation of the LKR in 1QCY2013 cf. the
depreciation of the LKR in 1QCY2012 and the drop in crude oil prices in the world market primarily advocated the
growth. Chevron Lubricants (16.5% YoY), Royal Ceramics (21% YoY), Tokyo Cement (244% YoY) and Dipped
Products (178% YoY) were the prime contributors towards the earnings growth. Profits of Chevron Lubricants, the highest
contributor to the sector revenue, added approximately 20% to the total sector earrings, whilst Royal Ceramics and Tokyo
Cement added 15% and 12% respectively.
The performance of the overall sector is likely to be highly volatile, as its exposure towards macroeconomic factors such
as change in interest rates, exchange rate fluctuations and rise in cost of energy is significant. With the recent sharp
increase in energy prices, companies which are immediately unable to pass on the cost to the end customers are likely to
witness their margins shrink in the short term. However, the companies who have internalized their energy requirements
and the companies who are market leaders and have the ability to pass on the cost increases are likely to outperform their
peers.
Further, the projected dip in interest rates subsequent to the steep cut in policy rates and SRR, is likely to boost demand for
products of construction related companies, whilst the downward trend in commodity prices such as copper, crude oil and
rubber is likely to support the margins of the companies which use these materials as their input.
Manufacturing (Quartely Earnings)

LKR mn

4,500
4,000
3,500

3,000
2,500
2,000
1,500

1,000
500
Mar'13

Dec'12

Sep'12

Jun'12

Mar'12

Source: Company,Asia Wealth Research

7
A member of Asia Capital Group

Weekly Review by Asia Wealth Management Research

28 June 2013

Plantations
Plantation sector witnessed a marginal increase of 0.4% YoY in earnings for 1QCY13, with earnings growth being largely
driven by the companies with high exposure to tea, such as Udapussellawa (77% YoY), Kelani Valley Plantation (76%
YoY) and Kahawatte Plantation (134% YoY). The high tea prices that prevailed during the quarter uplifted the
performance of the aforementioned companies; however the continuous drop in rubber prices hindered the performance of
companies which have high exposure to rubber. However, the sector earnings dipped c. 40% QoQ as majority of the
companies witnessed dip in their earnings mainly due to the QoQ dip in how grown tea and rubber prices.
Plantation companies are likely to face a decline/ slow down in their earnings in the short term, as a result of the recent
wage revision which invariably increases the cost of production of these companies and as a result of the declining trend in
the high grown tea and rubber prices. In addition, companies with high exposure to tea are also likely to face challenges
from the low production output (due to slow re-planting as a result of high costs) and the political instability in the key
export Middle East Market. However, we believe that companies who have a diverse crop mix and have exposure to oil
palm are likely to outperform their peer earnings due to high margins that are generated from the oil palms.
Plantation (Quartely Earnings)

LKR mn
2,500
2,000
1,500

1,000
500
-

Mar'13

Dec'12

Sep'12

Jun'12

Mar'12

Source: Company,Asia Wealth Research

Note: In our review, we have compared the 1QCY2013 results reported in SLFRS with the SLAS figures reported
in 1QCY2012 retrieved from our database.

8
A member of Asia Capital Group

Weekly Review by Asia Wealth Management Research

28 June 2013

Colombo Bourses Billion Rupee Club

Table below shows the members who have qualified to be a part of Asia Wealth Researchs Billion Rupee Club. The
eligibility criteria lie with their earnings reaching LKR1 bn mark. The list will be refreshed on a quarterly basis identifying
the new qualifying members whilst eliminating the disqualifying.
Company

Price

JOHN KEELLS HOLDINGS

COMMERCIAL BANK [V]
COMMERCIAL BANK [NV]
NDB
DIALOG TELEKOM
CEYLON TOBACCO
HNB [V]
HNB [NV]
DISTILLERIES
BUKIT DARAH
SRI LANKA TELECOM
SAMPATH BANK
CARSON CUMBERBATCH
DFCC BANK
NESTLE LANKA
AITKEN SPENCE
PEOPLES LEASING
CENTRAL FINANCE
OVERSEAS REALTY
LANKA IOC
ASIAN HOTEL & PROPERTIES
CHEVRON LUBRICANTS
ACCESS ENGINEERING LIMITED
TAPROBANE HOLDINGS
SEYLAN BANK [V]
SEYLAN BANK [NV]
UNITED MOTORS
NATIONS TRUST BANK
CEYLON GUARDIAN
COLOMBO DOCKYARD
CEYLINCO INSURANCE [V]
CEYLINCO INSURANCE [NV]
CEYLON COLD STORES
RICHARD PIERIS
LOLC
HAYLEYS
AIT. SPENCE HOTEL HOLD.
ASIRI SURGICAL
LB FINANCE
ROYAL CERAMICS
HEMAS HOLDINGS
CEYLON TEA SERVICES
DIPPED PRODUCTS
VALLIBEL ONE LIMITED
CEYLON INVESTMENT
CEYLON THEATRES
JOHN KEELLS HOTELS
COMMERCIAL LEASING & FINANCE
TRANS ASIA
LAUGFS GAS
LAUGFS GAS [NV]
EXPOLANKA HOLDINGS
LION BREWERY
TEXTURED JERSEY

252.00
116.00
95.00
162.10
8.60
1,000.00
163.70
118.00
193.00
695.60
41.00
204.00
435.20
137.90
1,939.90
130.00
14.70
182.00
18.70
25.30
72.00
295.00
20.10
4.90
65.50
36.00
120.00
63.80
188.00
221.00
1,150.00
400.00
170.00
6.80
60.00
306.30
74.00
10.40
127.00
105.90
34.50
650.00
125.00
18.20
93.10
144.00
13.10
4.10
81.00
26.00
20.20
6.90
395.00
12.20

Trailing
ROE
13.6%
17.9%
17.9%
37.6%
22.0%
222.7%
15.3%
15.3%
11.2%
15.8%
8.8%
17.1%
11.6%
12.5%
112.2%
11.6%
15.8%
18.9%
13.2%
22.3%
11.5%
52.8%
19.1%
77.3%
11.0%
11.0%
27.3%
19.9%
13.6%
19.5%
13.8%
13.8%
20.9%
23.9%
9.3%
8.3%
13.8%
50.6%
32.0%
19.9%
13.6%
18.1%
20.7%
4.5%
14.4%
8.7%
6.9%
13.6%
17.6%
16.4%
16.4%
11.7%
17.7%
17.7%

BVPS
104.8
62.4
62.4
139.6
4.8
19.5
128.3
128.3
164.6
312.2
31.1
166.7
176.7
106.1
57.2
69.1
12.2
153.6
26.6
24.5
49.0
37.8
12.5
4.0
57.3
57.3
109.6
43.9
179.1
141.5
537.6
537.6
96.5
4.1
42.0
299.5
38.4
6.5
76.9
75.8
23.6
395.7
114.3
28.6
88.7
72.2
11.2
1.2
30.3
16.8
16.8
4.6
73.9
8.8

9
A member of Asia Capital Group

Net Profit
(LKR mn)
12,201.1
9,462.2
9,462.2
8,624.1
8,536.4
8,152.0
7,814.9
7,814.9
5,519.7
5,042.4
4,960.0
4,773.4
4,013.8
3,523.2
3,446.1
3,266.8
3,045.0
3,041.1
2,954.5
2,908.8
2,494.3
2,396.4
2,382.2
2,258.4
2,165.5
2,165.5
2,012.9
2,011.5
2,002.4
1,983.4
1,960.3
1,960.3
1,915.7
1,902.7
1,862.6
1,855.0
1,782.0
1,738.4
1,702.7
1,670.4
1,657.7
1,435.0
1,417.9
1,403.5
1,258.8
1,149.7
1,121.0
1,068.2
1,065.7
1,060.8
1,060.8
1,060.7
1,045.9
1,016.6

Trailing
EPS
14.2
11.1
11.1
52.5
1.0
43.5
19.6
19.6
18.4
49.4
2.7
28.5
20.4
13.3
64.1
8.0
1.9
29.0
3.5
5.5
5.6
20.0
2.4
3.1
6.3
6.3
29.9
8.7
24.4
27.6
74.2
74.2
20.2
1.0
3.9
24.7
5.3
3.3
24.6
15.1
3.2
71.8
23.7
1.3
12.8
6.3
0.8
0.2
5.3
2.7
2.7
0.5
13.1
1.6

Trailing
PE

PBV

17.7
10.4
8.5
3.1
8.2
23.0
8.3
6.0
10.5
14.1
14.9
7.2
21.3
10.4
30.2
16.2
7.6
6.3
5.3
4.6
12.8
14.8
8.4
1.6
10.4
5.7
4.0
7.3
7.7
8.0
15.5
5.4
8.4
7.0
15.3
12.4
14.0
3.2
5.2
7.0
10.7
9.1
5.3
14.1
7.3
22.9
17.0
24.5
15.2
9.5
7.4
12.7
30.2
7.9

2.4
1.9
1.5
1.2
1.8
51.2
1.3
0.9
1.2
2.2
1.3
1.2
2.5
1.3
33.9
1.9
1.2
1.2
0.7
1.0
1.5
7.8
1.6
1.2
1.1
0.6
1.1
1.5
1.0
1.6
2.1
0.7
1.8
1.7
1.4
1.0
1.9
1.6
1.7
1.4
1.5
1.6
1.1
0.6
1.0
2.0
1.2
3.3
2.7
1.6
1.2
1.5
5.3
1.4

Mkt Cap
Mn
216,134.5
92,113.8
5,181.6
26,617.1
70,036.5
187,323.8
52,154.2
9,434.4
57,900.0
70,951.2
73,999.3
34,222.4
85,467.6
36,557.0
104,222.0
52,779.5
23,224.0
19,088.8
15,773.2
13,473.0
31,879.8
35,400.0
20,100.0
3,591.5
11,526.5
6,083.4
8,072.1
14,712.7
15,434.2
15,880.8
23,000.0
2,565.8
16,156.8
13,315.0
28,512.0
22,972.5
24,885.5
5,496.0
8,795.7
11,732.6
17,777.5
13,000.0
7,482.7
19,775.4
9,171.7
26,366.0
19,075.5
26,148.6
16,200.0
8,710.0
1,050.4
13,488.9
31,600.0
7,991.0

Weekly Review by Asia Wealth Management Research

28 June 2013

Analysis of Warrants Listed on the CSE

The below table depicts a comparison of the warrants trading price with its intrinsic value (derived through the Black
Scholes Call option valuation method). The 6th column to the right depicts the difference between the intrinsic value and
the traded price. Hence, the positive figures would explain the potential for the respective warrant to further appreciate.
(Price to be constant). However, it is noted that the intrinsic value is derived based on the current value of the underlying
stock price, its volatility, period to maturity and the risk free rate. Hence, any adverse movement of the mentioned
assumptions would have an adverse impact on the warrant value, and any favourable movement would positively impact
the warrant value (E.g.: if in case the asset price appreciates from the existing, it would invariably increase the value of the
warrant.Thus, the negative value would denote that the warrant is overvalued at the current price (assuming the underlying
stock.)

Exercise
price
CLPL-W-0013
CLPL-W-0014
GREG-W-0003
GREG-W-0006
REEF-W-0019

118.00
142.00
36.00
39.00
40.00

Share Price
(2013/06/28)
87.90
87.90
14.90
14.90
20.90

Expiry Date

Warrant Price
(2013/06/28)

25-Aug-14
25-Aug-15
24-Feb-14
24-Feb-15
15-Jun-15

2.90
2.70
1.10
2.20
2.70

10
A member of Asia Capital Group

Price According to
Black Scholes model
(Intrinsic value)
0.00
0.00
0.00
0.00
0.00

Undervalued/
(Overvalued)
(2.90)
(2.70)
(1.10)
(2.20)
(2.70)

Weekly Review by Asia Wealth Management Research

28 June 2013

Commodity Prices
Date as at

07.06.13

Brent Crude Oil (USD/barrel)

14.06.13

21.06.13

28.06.13

WoW %
change

103.6

104.3

102.6

102.8

0.2%

METALS
Gold (USD/ounce)

1,412.9

1,380.7

1,290.1

1,200.3

-7.0%

Copper LME (USD/ton)

7,378.0

7,057.0

6,738.5

6,726.8

-0.2%

AGRI
Date as at

07.06.13

Tea LKR/Kg

441.56

Date as at

07.06.13

Rubber (RSS 1) LKR /Kg

Exchange Rates (LKR)
USD
EURO
STG (GBP)
YEN
YUAN (CNY)

368.0
07.06.13
126.37
167.57
197.14
1.31
20.60

14.06.13
444.83
14.06.13
365.0
14.06.13
128.60
171.35
201.30
1.35
20.98

21.06.13
443.55
21.06.13
365.0
21.06.13
128.45
169.95
199.28
1.32
20.95

27.06.13
444.48
27.06.13
N/A
28.06.13
130.40
170.01
199.17
1.32
21.22

WoW %
change
0.2%
WoW %
change
N/M
WoW %
change
1.5%
0.03%
-0.06%
0%
1.3%

Source: Bloomberg, AFP, Reuters, CBSL, RDDSL, Asia Siyaka

OIL
Limited activity was witnessed in crude oil markets in the first half of the week as analysts awaited the release of U.S data
on Wednesday to gauge the future direction of the Federal Reserves future monetary policy stance. The data relating to
consumer confidence, business activity and home sales for the month of May were better than expected which prompted
upward movement in crude oil prices towards the latter half of the week. However, prices were dampened to a certain
extent by U.S crude oil stockpile data which remained unchanged at 394.1 mn barrels. In contrast, analysts expected a drop
in crude oil stockpiles which prompted a dip in futures oil prices by the end of the week.

11
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Weekly Review by Asia Wealth Management Research

28 June 2013

Gold
The yellow metal traded at its lowest levels witnessed in more than 34 months. The better than expected data out of the
U.S, lent fuel to analyst expectations that the Federal Reserve will stick with its plan to taper off QE measures by the end
of the year. In response Gold futures for September delivery traded on the COMEX declined by 1.4% YoY and fell to a
low of USD1212/ ounce over the week. However analyst expectations regarding the prospects for the yellow metal remain
mixed as low prices may spur fresh demand for coins and Jewellery from India and other Asian markets.

Copper
Analysts of copper expect it to experience its worst quarterly performance in over two years. This is primarily due to the
slowdown in China and the uncertainty that has arisen over the U.S Federal Reserves decision with respect to its QE
program. However analysts were slightly optimistic over the prospects of the red metal towards the end of the week as data
out of the Eurozone indicated an improvement in German retail sales which advanced by 0.8%. 3-month copper futures
traded on the LME remained virtually unchanged for the week at USD6,748.25/ ton.

Forex Markets
The Yen weakened against 16 major currencies for the second consecutive week. In contrast, the greenback climbed to
more than a two week high against the Euro as the U.S Federal reserve attempts to arrest the rising Treasury yields which
have been trending upwards during the quarter. The Euro is poised to advance against a basket of 10 major currencies
amidst improved current account position and the prevailing low inflationary environment in the Eurozone.
Source: Bloomberg, AFP, Reuters, Eurostat

12
A member of Asia Capital Group

Weekly Review by Asia Wealth Management Research

28 June 2013

Conclusion
Interpretation seems to be the hardest word...
The market seemed to be grappling with difficulty to decipher information on revising its direction to reflect the
changes that surfaced at the global level and its interaction with the domestic monetary policy developments during
the week coupled with domestic growth concerns. This is indicated by sharp differences in turnover levels and index
performance within the week. The move to bring down the statutory reserves ratio of the banking sector from 8% to
6% by the monetary authorities from 1st of July 2013 is likely to lower the cost to income ratio of the banking sector
and hence raise the level of its profitability. The move is likely to reduce market interest rates and therefore improve
the attractiveness of the equities going forward.
On the other hand, the expected tapering off of Feds QE efforts sent global markets reeling on concerns that a
sudden drain in market liquidity would trigger sizeable outflows. However, interpretation of the Feds announcement
by market participants seems to be wide of the mark especially with regard to U.S. treasuries given that the space for
phasing off QE for U.S. monetary authorities is highly limited. This is so given that U.S. economic recovery was
largely dependent on the upturn in the housing market which was triggered through the billions of stimulus cash
flooding the U.S financial sector. Hence reversal of QE efforts coupled with the scheduled budget cuts is likely to
delay the recovery process of the economy if enacted. In addition, after two straight months of negative
manufacturing output growth in March and April, the May figures of the U.S economy showed stagnant growth.
Hence, we expect Feds QE efforts to continue at least till unemployment rate falls below 6.5% from current 7.6%
which seems to be a far-off target. Hence, U.S. monetary policy for the moment shouldnt be a cause of uncertainty
and a criterion that could impact market indices negatively.
The LKR continued its slide during the week closing at LKR 130.44/USD (CBSL). The sharp fall in the currency is
mainly on account of the USD 1.9 billion worth of foreign loans of the banking sector maturing during the period
between May-July which tantamounts to circa 50% of total government securities held by the foreign investors (USD
4 billion). Further USD 703.8 million worth of banking sector foreign loans is scheduled to mature during the next
ten months, exerting pressure on the LKR to depreciate against other key currencies. However, monetary authorities
would intervene to stabilise the currency at the expense of the official reserves given that a sharp depreciation of the
LKR would force the foreign investors to cut losses and exit the treasuries, which would lead to a full scale flight of
capital from the economy.
The redemption profile of the banking sector foreign borrowings is not currently under the strict purview of Central
Bank, which in turn creates the possibility of bunching up of foreign debt portfolio of the private sector and hence
creating sizeable refinancing risks. This is a matter of concern given that Sri Lanka is largely dependent on her
financial account of the balance of payments in terms of maintaining her external balances. If private foreign
borrowings were managed by the monetary authority similar to the management of the public debt so as to maintain
the redemption profile and reduce the refinancing risk, bunching up in the foreign debt portfolio of the banking sector
could have been avoided. The individual foreign borrowings of the banking sector which is not co-ordinated so as to
avoid a clustering of debt refinancing lies at the heart of the issue. This has not only exerted undue pressure on the
exchange rate but also has generated the undue risk of a foreign outflow from the treasuries, which could have been
easily prevented. So far foreign investors have been moving from long term bonds to short term bills to reduce risks
which exert no pressure on the currency since there is no outflow. However, week ending 26 th July showed a net
foreign outflow of LKR 4.1 billion (circa USD 30 million) from the treasuries reversing the trend of weekly inflows.
If due measures are not made by authorities to stabilise the currency, a risk of an outflow cannot be avoided.

13
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Weekly Review by Asia Wealth Management Research

28 June 2013

Focus on Investment Key Buys

Manufacturing
X LKR 21.00

35

LKR

Tokyo Cement
N LKR 25.10

33
31

TKYO, being the joint market leader in the cement industry, has its
grinding facility located in Trincomalee, ideally located for the
rebuilding boom. TKYO, a direct beneficiary of construction sector
upturn, is in a strong position to take advantage of increasing demand
in current excess capacity. TKYO completed a 10 MW bio mass power
plant which provides them significant cost advantage together with
additional boost to top line.

29

27
25
23
TKYO

LKR

21

23
22
21
20
19
18

17

TKYOX

16

Banking & Finance

X LKR 95.00

130
LKR

Commercial Bank
N LKR 116.00

Commercial Bank is the largest private sector commercial bank with an

asset base of LKR512.2 bn as at Dec 2012, and operates with above 550
ATM points, which is also the largest single network in the country.
With the expected drop in interest rates in the economy consequent to the
cut in policy rates and lifting of the credit ceiling that prevailed during
2012, coupled with the strong capital adequacies; the bank is expected to
continue its growth momentum. Therefore considering these factors we
rate COMB as a mid to longer term investment.

125
120
115
110
105
100
95

COMB

90

LKR

105

100
95
90

85
80

75
70

65

14
A member of Asia Capital Group

COMBX

Weekly Review by Asia Wealth Management Research

28 June 2013

Focus on Investment Contd...

Banking & Finance
X- LKR 118.00

180

LKR

Hatton National Bank

N-LKR 163.70

170
160

HNB is the second largest private commercial bank with a total asset
base of LKR459.4bn as at end 2012, and number one private bank in
terms of branches with a strong network of over 247. HNB which has a
relatively larger retail deposit base is projected to enjoy higher interest
spreads and would also benefit from the growth in SME lending. With,
the expected drop in interest rates in the economy consequent to the cut
policy rates and lifting the credit ceiling that prevailed during 2012,
coupled with the strong capital adequacies; the bank is expected to
continue its growth momentum. Therefore considering these factors we
rate HNB as a mid to longer term investment.

150
140
130
HNB
120

140
LKR

130
120
110
100
90
HNBX

CIC Holdings
N LKR 68.00

Chemicals & Pharmaceuticals

X LKR 47.50

LKR

80

95
90

85
80

CIC is considered as the only seed to shelf agricultural company in Sri

Lanka.The Company also has foot prints in consumer and
pharmecuitical industries, Paints, Industrial raw material and Packaging.
Acquisition of dairy farms in north & east region coupled with CICs
plans to expand overseas will strengthens companys earnings in the
medium to long term.

75
70
65
60

CIC

LKR

55

70
65
60
55
50
45
40

15
A member of Asia Capital Group

CICX

Weekly Review by Asia Wealth Management Research

28 June 2013

Peopless Leasing & Finance

N LKR 14.70

Banking & Finance

LKR

Focus on Investment Contd...

17
16
15

Largest specialized leasing company in Sri Lanka is a subsidiary of

Peoples Bank- the 2nd largest commercial bank inthe country, a
holding.Principal business activity of PLC is the provision of finance
leasing, operating leasing, HP facilities etc...During 2012 most of the
finance companies enjoyed much demand for loans, due to credit ceiling
imposed on LCBs. However the ceiling was lifted from the beginning
of 2013, yet we believe that the prjected decline in interest rates would
create more avenues for RFCs. PLC achieving the finance company
licenses, have opened opportunities to collect public deposits and
minimise cost of funds, where the company was earlier depending on
more borrowings. Going by these, we believe PLC is a medium to long
term healthy investment to consider.

14

Sampath Bank
N LKR 204.00

248

12
11
10

228

The bank expects a moderate pace on branch expansions for 2013 as it

has achieved sufficient coverage while aggressively developing and
promoting electronic banking channels. As the pioneer in blending IT
with banking, the company will revamp its existing products and
innovate new customer focus products. The bank is well poised to take
advantage of the current economic developments taking place in the
country. The credit ceiling that existed during 2012, limited the growth
of LCBs, including Sampath bank. However, the removal of the ceiling
from 2013, and the anticipated drop in interest rates coupled with
SAMPs strong capital adequacies, would enable the bank to enter
another growth phase in its performance. Therefore considering these
factors we rate SAMP as a mid to longer term investment.

208

John Keells Holdings

N LKR 252.00

310
290
270
250
230
210
190
170
150

188
168

148

LKR
LKR

The sustained performance of the group during FY13 inspite of its high
exposure to macro economic shocks is a testament to the firms
commitment towards value creation whilst maintaining a healthy
balance sheet.Going forward, with the growth in GDP, per capita
income and the increase in tourist arrivals we anticipate the consumer
retail and the leisure sector to perform admirably.

Leasing and Hire Purchase business. Company is operating with a

total asset base of LKR 54bn as at Mar 2013, and an island wide
branch net work of 89. With satisfactory liquidity levels and capital
adequacies, company is poised to take advantage in any growth in
credit demand.The projected decline in interest rates in the economy
and rising demand for credit is to provide many opportunities for these
business models. Further company would stay ahead of other finance
companies consequent to its strong fundamentals, high interest
margins, high ROE etc...Therefore we rate LFIN as a worthwhile
investment with a time span of medium to long term.

JKH

180
170
160
150
140
130
120
110
100

16
A member of Asia Capital Group

SAMP

128

Diversified

LB Finance
Banking & Finance
N LKR 127.00
.0 Finance is a leading registered finance company engaged in
LB

PLC

LKR

Banking& Finance

13

LFIN

Weekly Review by Asia Wealth Management Research

28 June 2013

Focus on Investment Contd...

7.5

Manufacturing

LKR

Piramal Glass
N LKR 6.60

6.5

The company is the sole glass manufacture in Sri Lanka who supplies
glasscontainers to thefood and beverages, cosmetics, perfumery and the
pharmaceutical sectors. The company at present virtually holds a
monopolistic position in the Local market with an approximately 97%
market share. Further, with their state of the art manufacturing plant in
Horana, coupled with the growing demand derived from the rapid
developments taking place within the Sri Lankan economy, the
company is likely to deliver better returns to its shareholders.

5.5
5

Diversified

Aitken Spence, after an illustrious tenure of over 100+ years of

operations in Sri Lanka is today one of the most-recognized brand
names in Sri Lanka. Led by a competent management team, the group
has made successful investments into a number of key sectors of the
Sri Lankan economy, including Tourism, Logistics, power generation
and inward money transfer operations. The firm has consistently
recorded a growth in operating profit from core operations and has
maintained a high ROE resulting in value creation to shareholders.

Construction

SPEN

24

22

Access Engineering (AEL) is a total solutions provider in the

construction industry with activities ranging from engineering designs,
geotechnical services, piling and horizontal drilling. The firm is the
premiere choice for large & specialized construction activities such as
roads & highways, ports & marine, water & waste management, whilse
its clientele includes government entities such as the Road Development
Authority (RDA), Urban Development Authority (UDA) and Board of
Investments (BOI) as well as private sector firms such as Dialog Axiata,
Taisei Corporation etc.. The firm is well poised to capitalize on the
construction boom taking place in the Island with its proven track
record.

20
18
16

AEL
14

17
A member of Asia Capital Group

145
140
135
130
125
120
115
110
105
100

LKR

Access Engineering
N LKR 20.10

GLAS

4.5

LKR

Aitken Spence
N LKR 130.00

Weekly Review by Asia Wealth Management Research

28 June 2013

Stock Exchange Announcements

As at 28th June 2013
Rights issues
Company

Proportion / Issue Price

Pelwatte Sugar

XR date

Last Date Of
Acceptance &
Payment

Trading of rights
Commences on

* Rights issue would be delayed until the outcome of the

proposed Act with regard to acquisition of its land by the
State is known.

01 for 04 @ LKR18.00

Dividends announcements
Company

Piramal Glass
The Lighthouse hotel
DFCC Bank
Aitken Spence
Aitken Spence Hotel Holdings
Hunas Falls Hotel
Haycarb
Balangoda Plantation
Dipped Products
Citizen Development Business

Dividend
Per share
(LKR)
0.38
2.00
5.00
1.50
1.00
1.00
3.00
1.00
3.00
2.75

LB Finance
E B Creasy & Co
Central Finance

6.50
10.00
1.20

Final/ Interim

XD Date

First & Final

Final
First & Final
First & Final
First & Final
First & Final
Final
First & Final
Final
First and Final
(Voting NonVoting)
First and Final
First and Final
Final

16-07-2013
01-07-2013
01-07-2013
28-06-2013
28-06-2013
25-06-2013
27-06-2013
27-06-2013
28-06-2013
28-06-2013

25-07-2013
09-07-2013
09-07-2013
08-07-2013
08-07-2013
02-07-2013
04-07-2013
04-07-2013
08-07-2013
08-07-2013

01-07-2013
01-07-2013
23-07-2013

09-07-2013
09-07-2013
31-07-2013

18
A member of Asia Capital Group

Payment Date

Weekly Review by Asia Wealth Management Research

28 June 2013

Stock Exchange Announcements Contd...

Company

Hayleys
Kotagala Plantations
Hemas Holdings
United Motors Lanka
CIC Holdings
Chemanex
Watawala Planation
Dankotuwa Porcelain
Ceylon Tea Services
CW Mackie
Sunshine Holdings
Vallibel Finance
Ceylon Guardian
Investment
Ceylon Investment
Carson Cumberbatch
AMW Capital Leasing &
Finance PLC
Central Industries
Peoples Leasing &
Finance
Sigiriya Village
Colonial Motors
Colombo Investment
Trust
York Arcade Holdings
Merchant Bank of Sri
Lanka
AgstarFertilzers
Nawaloka Hospitals
Orient Finance

Dividend
Per share
(LKR)
4.50
2.50
0.45
4.00
1.00
0.50
0.25
0.40
10.00
3.00
0.50
1.50
2.50

Final/ Interim

XD Date

First & Final

First & Final
Final
Final
Final (Voting Non-Voting)
Final
Final
Final
Final
First & Final
Final
Interim
First & Final

01-07-2013
08-07-2013
27-06-2013
05-07-2013
01-07-2013
09-07-2013
08-07-2013
15-07-2013
02-07-2013
10-07-2013
02-07-2013
10-07-2013
10-07-2013
18-07-2013
24-07-2013
31.-07-2013
To be notified
28-06-2013
08-07-2013
25-07-2013
02-08-2013
25-06-2013
04-07-2013
31-07-2013
08-08-2013

1.75
2.00
0.55

First & Final

First & Final
Final

31-07-2013
01-08-2013
26-06-2013

3.00

Final

0.50

Final

19-07-2013

2.00
3.00
1.00

First & Final

First & Final
First & Final

19-07-2013
30-07-2013
To be notified
29-07-2013
06-08-2013

0.40
0.50

First & Final

First & Final

29-07-2013
06-08-2013
To be notified

0.10
0.05
0.20

Final
Interim
First & Final

26-07-2013
05-08-2013
09-07-2013
18-07-2013
To be notified

08-08-2013
12-08-2013
03-07-2013

To be notified

19
A member of Asia Capital Group

Payment Date

30-07-2013

Weekly Review by Asia Wealth Research

28 June 2013

Valuation Guide
Company

YE SH M.CAP Price
(mn) (Bn)

Earnings(LKR Mn)
FY10

FY11

FY12

FY13

EPS
FY14E FY10 FY11 FY12

PE
FY13 FY14E FY10 FY11 FY12 FY13

FY14E

DPS

DY

ROE

BVPS

PBV

Financial Services
HNB

Dec

318.60

52.2

163.70

4,786.8 6,148.8

8,111.0

10,003.5

11,625.6

12.0

15.4

20.4

25.1

29.2

13.6

10.6

8.0

6.5

5.6

8.50

5.2%

16%

129.5

1.3

HNB(NV)

Dec

79.95

9.4

118.00

4,786.8 6,148.8

8,111.0

10,003.5

11,625.6

12.0

15.4

20.4

25.1

29.2

9.8

7.6

5.8

4.7

4.0

8.50

7.2%

16%

129.5

0.9

Commercial Bank

Dec

794.07

92.1

116.00

5,508.0 8,094.7

10,079.8

10,791.3

12,960.3

6.5

9.5

11.9

12.7

15.3

17.9

12.2

9.8

9.1

7.6

6.50

5.6%

19%

62.4

1.9

Commercial Bank(NV)

Dec

54.54

5.2

95.00

5,508.0 8,094.7

10,079.8

10,791.3

12,960.3

6.5

9.5

11.9

12.7

15.3

14.6

10.0

8.0

7.5

6.2

6.50

6.8%

19%

62.4

1.5

Sampath Bank

Dec

167.76

34.2

204.00

3,484.5 4,150.6

5,342.6

5,759.8

7,026.0

20.8

24.7

31.8

34.3

41.9

9.8

8.2

6.4

5.9

4.9

6.00

2.9%

20%

162.2

1.3

NDB Bank

Dec

164.20

26.6

162.10

2,102.6 2,705.5

8,853.8

3,997.5

4,973.1

12.8

16.5

53.9

24.3

30.3

12.7

9.8

3.0

6.7

5.4

15.00

9.3%

36%

151.5

1.1

John Keells Hold.

Mar

857.67

216.1

252.00

5,201.5 8,245.6

9,775.0

12,201.1

12,425.0

6.1

9.6

11.4

14.2

14.5

41.6

26.2

22.1

17.7

17.4

3.50

1.4%

14%

104.7

2.4

Aitken Spence Hold.

Mar

406.00

52.8

130.00

2,059.6 2,536.0

3,709.2

3,266.8

5,089.4

5.1

6.2

9.1

8.0

12.5

25.6

20.8

14.2

16.2

10.4

1.50

1.2%

12%

69.1

1.9

Distilleries

Mar

300.00

57.9

193.00

2,135.7 8,124.0

5,675.4

5,519.7

8,918.3

7.1

27.1

18.9

18.4

29.7

27.1

7.1

10.2

10.5

6.5

0.0%

11%

164.6

1.2

Ceylon Tobacco

Dec

187.32

187.3 1000.00

5,097.1 6,568.8

8,176.7

8,097.4

8,083.5

27.2

35.1

43.7

43.2

43.2

36.8

28.5

22.9

23.1

23.2

45

4.5%

239%

18.2

54.8

Asian Hotels & Properties

Mar

442.78

31.9

72.00

629.8 1,774.5

2,150.6

2,494.3

2,617.7

1.4

4.0

4.9

5.6

5.9

52.7

18.7

14.8

12.8

12.2

4.00

5.6%

11%

49.0

1.5

Aitken Spence Hotel

Mar

336.29

24.9

74.00

523.8 1,034.1

1,395.3

1,782.1

1,747.0

1.6

3.1

4.1

5.3

5.2

47.5

24.1

17.8

14.0

14.2

1.00

0.0%

14%

38.4

1.9

Chevron Lubricants

Dec

120.00

35.4

295.00

1,501.3 2,000.6

2,257.3

2,583.5

2,678.2

12.5

16.7

18.8

21.5

22.3

23.6

17.7

15.7

13.7

13.2

11.00

3.7%

55%

34.4

8.6

Tokyo (V)

Mar

202.50

5.1

25.10

369.3

855.7

973.2

827.9

1,505.0

1.2

2.8

3.2

2.7

5.0

20.6

8.9

7.8

9.2

5.1

0.0%

12%

22.1

1.1

Tokyo (NV)

Mar

101.25

2.1

21.00

369.3

855.7

973.2

827.9

1,505.0

1.2

2.8

3.2

2.7

5.0

17.3

7.5

6.6

7.7

4.2

0.0%

12%

22.1

0.9

Piramal Glass

Mar

950.09

6.3

6.60

(61.1)

578.7

686.4

724.4

948.2

(0.1)

0.6

0.7

0.9

1.0

N/A

10.8

9.1

7.0

6.6

0.38

5.8%

20%

3.8

1.7

CIC Holdings (V)

Mar

72.90

4,957.2

68.00

589.6

926.6

916.5

230.9

1,405.2

6.2

9.8

9.7

2.4

14.8

10.9

7.0

7.0

27.9

4.6

1.63

2.4%

3%

81.9

0.8

CIC Holdings (NV)

Mar

21.87

1,038.8

47.50

589.6

926.6

916.5

230.9

1,405.2

6.2

9.8

9.7

2.4

14.8

7.6

4.9

4.9

19.5

3.2

1.63

3.4%

3%

81.9

0.6

Conglomerates

Food & Beverage

Tourism

Manufacturing

Chemical &
Pharmecuitical

94.77

Plantations
Kegalle Plantations

Mar

25.00

2.8

110.00

376.1

837.7

681.5

542.5

892.1

15.0

33.5

27.3

21.7

35.7

7.3

3.3

4.0

5.1

3.1

0.0%

16%

134.0

0.8

Namunukula Plantations

Mar

23.75

1.9

80.00

146.7

409.3

374.6

409.2

454.4

6.2

17.2

15.8

17.2

19.1

13.0

4.6

5.1

4.6

4.2

0.0%

21%

84.0

1.0

Kotagala Plantations

Mar

40.00

2.1

53.50

323.2

667.8

438.6

516.7

620.9

8.1

16.7

11.0

12.9

15.5

6.6

3.2

4.9

4.1

3.4

2.50

4.7%

15%

85.6

0.6

Laugfs Gas (Voting)

Mar 335.00

8.7

26.00

243.1

852.7

930.3

1,060.8

1,185.1

0.6

2.2

2.4

2.7

3.1

41.4

11.8

10.8

9.5

8.5

1.50

5.8%

16%

19.4

1.3

Laugfs Gas (Non voting)

Mar 52.00

1.1

20.20

243.1

852.7

930.3

1,060.8

1,185.1

0.6

2.2

2.4

2.7

3.1

32.2

9.2

8.4

7.4

6.6

1.50

7.4%

16%

17.5

1.2

Power & Energy

*Companies with their financial year ending in December would carry forecasted figure for FY13.

20
A member of Asia Capital Group

Weekly Review by Asia Wealth Research

28 June 2013

Broad Market
Company

Year
End

MARKET
FINANCIAL SERVICES
Banking
COMMERCIAL BANK [V]
COMMERCIAL BANK [NV]
DFCC BANK
HNB [V]
HNB [NV]
NATIONS TRUST BANK
NDB
PAN ASIA BANK
SAMPATH BANK
SEYLAN BANK [V]
SEYLAN BANK [NV]
HDFC
UNION BANK
Finance Co.s & / Merchant Banks
ASIA CAPITAL
ALLIANCE FINANCE
ARPICO FINANCE
CENTRAL FINANCE
NATION LANKA
LOLC
LB FINANCE
MERCHANT BANK
PEOPLE'S MERCHANT
SMB LEASING PLC [V]
SMB LEASING PLC [NV]
THE FINANCE
THE FINANCE[NV]
SOFTLOGIC FINANCE
VALLIBEL FINANCE
SINHAPUTRA
SINGER FINANCE
BIMPUTH LANKA INVESTMENTS
TRADE FINANCE

Price
(LKR) 1W(%)
(0.56)
0.59

Price Performance
1M(%) 1Q(%)
(4.87)
(4.64)

6.72
0.84

1Y(%)

Shares Trailing
Mn
ROE

23.51
27.11

13.22%
15.73%

COMBN
COMBX
DFCCN
HNB N
HNB X
NTB N
NDB N
PABCN
SAMPN
SEYBN
SEYBX
HDFCN
UBC N

MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB

D
D
M
D
D
D
D
D
D
D
D
D
D

116.00
95.00
137.90
163.70
118.00
63.80
162.10
19.10
204.00
65.50
36.00
39.10
17.50

(1.25)
0.15
(0.19)
(0.51)
1.61
(0.55)
(1.03)
1.43
2.02
1.41
(0.50)
(2.78)

(5.02)
2.04
16.82
(5.01) (2.17)
28.98
(4.51)
4.88
24.66
(2.95) (3.71)
9.59
(6.57) (10.39)
31.08
(5.54)
3.44
32.01
(6.82) (1.52)
59.31
(8.10)
1.58
10.29
(7.57) (8.85)
35.67
(4.10)
0.46
12.93
(4.00)
1.41
30.91
(12.91) (0.50) (34.97)
(9.79)
2.94
30.60

794.08
54.54
265.10
318.60
79.95
230.61
164.20
295.04
167.76
175.98
168.98
64.71
349.25

ACAPN
ALLIN
ARPIN
CFINN
CSF N
LOLCN
LFINN
MBSLN
PMB N
SEMBN
SEMBX
TFC N
TFC X
CRL N
VFINN
SFL N
SFINN
BLI N
TFILN

MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
DiriSaviB
MainB
DiriSaviB
MainB
DiriSaviB
DiriSaviB

M
M
M
M
M
M
M
D
M
D
D
M
M
M
M
M
M
M
M

25.00
911.10
103.90
182.00
8.90
60.00
127.00
17.00
14.20
0.80
0.40
13.00
4.40
31.20
30.20
73.20
13.20
19.40
14.50

(2.56)
3.80
(1.62)
(4.30)
0.50
(0.70)
3.66
1.57
(2.27)
2.30
(7.34)
0.76
5.43
3.57

(11.66)
9.65 (19.61)
(2.38)
13.87
48.82
(4.68)
16.09
22.09
(4.51)
1.11
42.97
(11.00)
3.49
(0.50)
5.26
64.38
(1.78) (4.22)
2.83
(6.59)
5.59 (19.43)
(13.94)
5.19
12.70
(11.11) (11.11) (27.27)
33.33
(14.00)
2.38 (43.91)
(15.69) (4.44) (20.37)
4.00
22.35 (15.68)
(0.98)
7.07 (5.90)
(9.63) (0.41) (8.50)
(8.33)
4.76
6.45
(25.95)
25.97 (7.62)
20.83
36.79

110.00
2.43
4.46
104.88
249.91
475.20
69.26
135.00
67.50
1191.77
614.07
57.97
100.00
37.45
41.55
6.30
165.33
26.93
56.80

21
A member of Asia Capital Group

17.87%
17.87%
12.52%
15.29%
15.29%
19.89%
37.62%
18.73%
17.07%
10.95%
10.95%
1.48%
3.34%
13.68%
na
26.65%
15.95%
18.88%
na
9.33%
31.95%
1.44%
na
7.87%
7.87%
na
na
12.66%
31.21%
8.76%
12.41%
8.95%
19.33%

BVPS

62.41
62.41
106.14
128.28
128.28
43.85
139.62
13.86
166.66
57.32
57.32
37.54
14.31
7.21
826.66
97.64
153.59
1.85
42.01
76.94
21.50
12.40
0.52
0.52
-34.41
-34.41
32.23
22.56
128.72
11.47
12.81
11.86

Net Profits
4 Qtrs
trailing

Mar13

Dec12

197,090.60 53,026.05
68,426.88 12,335.75
39,343.47 7,566.77
9,462.15 2,256.05
9,462.15 2,256.05
3,523.25 1,226.63
7,814.90 1,262.19
7,814.90 1,262.19
2,011.46
501.93
8,624.13
506.89
765.86
151.45
4,773.44 1,055.90
2,165.54
509.51
2,165.54
509.51
36.00
38.43
166.73
57.79
16,200.61 3,363.04
(627.32) (240.79)
535.34
150.45
69.49
20.94
3,041.11
703.25
(173.82)
5.64
1,862.55
171.58
1,702.67
466.10
41.79
(2.29)
(89.27)
(25.71)
74.51
17.77
74.51
17.77
(1,611.16) (349.08)
(1,611.16) (349.08)
152.87
64.76
292.52
91.26
71.00
13.99
235.42
57.03
30.86
26.70
130.20
30.58

64,311.55
29,068.30
15,680.20
2,433.00
2,433.00
795.10
3,168.72
3,168.72
455.50
6,797.20
259.38
1,313.80
454.56
454.56
(7.80)
10.74
3,187.29
(101.30)
147.63
20.00
756.28
2.03
513.84
442.40
6.92
(27.97)
19.00
19.00
(510.40)
(510.40)
32.78
72.60
15.30
63.04
1.23
27.88

Net Profits (mn)

Sep12
Jun12
48,205.01
13,656.25
7,943.94
2,303.20
2,303.20
819.13
1,676.38
1,676.38
566.53
678.77
195.40
1,044.53
589.19
589.19
0.01
70.79
5,095.89
(145.25)
144.21
10.38
796.33
(81.05)
605.22
429.15
30.48
1.28
27.83
27.83
(357.76)
(357.76)
55.33
66.92
31.19
61.19
3.94
71.12

32,257.34
11,514.28
8,152.55
2,469.90
2,469.90
682.38
1,707.60
1,707.60
487.50
641.28
159.63
1,359.21
612.27
612.27
5.36
27.42
2,651.62
(139.98)
110.77
18.18
785.24
(100.43)
656.84
432.96
6.67
(36.87)
9.91
9.91
(393.92)
(393.92)
61.74
59.43

Trailing Trailing
EPS
PE

PBV Market Cap

(mn)

11.93
9.41

1.58 2,350,744.40
1.48

11.15
11.15
13.29
19.61
19.61
8.72
52.52
2.60
28.45
6.28
6.28
0.56
0.48

10.4
8.5
10.4
8.3
6.0
7.3
3.1
7.4
7.2
10.4
5.7
70.3
36.7

1.9
1.5
1.3
1.3
0.9
1.5
1.2
1.4
1.2
1.1
0.6
1.0
1.2

92,113.84
5,181.61
36,556.97
52,154.15
9,434.43
14,712.74
26,617.13
5,635.28
34,222.43
11,526.52
6,083.39
2,530.18
6,111.88

na
220.31
15.57
29.00
na
3.92
24.58
0.31
na
0.04
0.04
na
na
4.08
7.04
11.28
1.42
1.15
2.29

na
4.1
6.7
6.3
na
15.3
5.2
54.9
na
19.4
9.7
na
na
7.6
4.3
6.5
9.3
16.9
6.3

3.5
1.1
1.1
1.2
4.8
1.4
1.7
0.8
1.1
1.5
0.8
-0.4
-0.1
1.0
1.3
0.6
1.2
1.5
1.2

2,750.00
2,213.97
463.65
19,088.77
2,224.22
28,512.00
8,795.66
2,295.00
958.50
953.41
245.63
753.56
440.00
1,168.56
1,254.83
460.86
2,182.40
522.51
823.61

Weekly Review by Asia Wealth Research

Company
CITIZENS DEVELOP. BUS.FINANCE
CITIZENS DEVELOP.BUS.FINANCE [NV]
SENKADAGALA FINANCE
SWARNAMAHAL FINANCE
CHILAW FINANCE LIMITED
COMMERCIAL CREDIT LIMITED
MERCANTILE INVESTMENTS
MULTI FINANCE
LANKA ORIX FINANCE
ABANS FINANCIAL SERVICES
CENTRAL INV & FINPLC
ASSOCIATED MOTOR FINANCE PLC
CAPITAL ALLIANCE FINANCE LIMITED
NANDA INVESTMENTS AND FINANCE
SOFTLOGIC CAPITAL LIMITED
ENTRUST
PEOPLES LEASING
ASIA ASSET FINANCE LIMITED
ORIENT FINANCIAL SERVICE
SANASA DEVELOPMENT BANK
COMMERCIAL LEASING & FINANCE
GEORGE STEUART FINANCE
Insurance
AMANA TAKAFUL INS.
ASIAN ALLIANCE
CEYLINCO INSURANCE [V]
CEYLINCO INSURANCE [NV]
AIA INSURANCE LANKA
HNB ASSURANCE
UNION ASSURANCE
JANASHAKTHI
Venture Capital Co.s
NDB CAPITAL
FIRST CAPITAL
LANKA VENTURES

CDB N
CDB X
SFCLN
SFS N
CFL N
COCRN
MERCN
MFL N
LOFCN
AFSLN
CIFLN
AMF N
CALFN
NIFLN
SCAPN
ESL N
PLC N
AAF N
ORINN
SDB N
CLC N
GSF N

MainB
MainB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB
MainB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB
MainB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB

Year
End
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
D
M
M

ATL N
AAICN
CINSN
CINSX
CTCEN
HASUN
UAL N
JINSN

DiriSaviB
DiriSaviB
MainB
MainB
MainB
MainB
MainB
DiriSaviB

D
D
D
D
D
D
D
D

1.50
105.00
1150.00
400.00
304.60
56.00
99.50
13.70

4.48
17.35
5.92
1.23
5.08
1.49

(6.25) (11.76) (11.76)

3.96
31.25
10.99
10.10
15.01
43.48
4.48
19.74
28.46
(4.59) (13.20) 103.89
2.09
12.55
28.10
(0.50)
16.10
8.15
10.57
36.00

CDICN
CFVFN
LVENN

MainB
MainB
MainB

D
M
M

493.00
18.60
34.20

(0.40)
6.25
(5.00)

0.61
16.88
(5.00)

Price
Price Performance
(LKR) 1W(%)
1M(%) 1Q(%) 1Y(%)
43.50 (9.56)
(6.65)
8.48
14.78
35.00 (7.65)
(7.89)
20.27 (16.07)
50.00
- 150.00
2.40 (4.17)
(28.13) (28.13) (67.14)
13.40
16.96
4.80
25.96 (9.03)
13.10
0.77
0.77
1.55 (10.27)
2200.00
21.40
4.37
(20.96) (2.27)
16.85
3.10
(8.82) (6.06) (8.82)
33.30
8.12
2.46
14.83 (2.35)
1.90
18.75
(13.64) (26.92) (53.66)
385.00 (1.28)
(2.04)
9.97
10.00
18.80
6.21
(21.01)
31.47 (15.70)
8.70
3.57
8.75
50.00
61.11
5.90
(9.23)
5.36 (3.28)
22.80
0.44
(10.24)
28.09
16.92
14.70 (1.34)
(1.34)
12.21
25.64
2.30
4.55
(4.17)
4.55 (20.69)
14.10
0.71
(5.37) (5.37) (31.55)
71.00 (1.11)
(14.23)
9.22 (23.47)
4.10
2.50
(8.89) (16.33)
32.26
500.10 (10.71)
(25.36) (23.06)
-

Shares
Mn
46.30
8.01
53.37
500.00
33.90
238.07
3.01
22.46
2800.00
37.00
83.43
5.61
38.77
100.72
299.20
33.00
1579.86
559.47
115.63
25.18
6377.71
22.50

Trailing BVPS
ROE
17.80%
55.32
17.80%
55.32
36.69%
29.49
9.24%
0.92
9.97%
10.08
48.74%
6.12
11.05% 1898.30
na
16.65
12.65%
1.94
8.34%
12.01
na
4.48
24.43% 111.35
2.47%
8.10
5.46%
5.29
na
5.90
18.49%
22.43
15.83%
12.18
9.98%
1.33
21.05%
6.92
9.77% 149.38
13.63%
1.23
5.95%
14.87

1000.00
37.50
20.00
6.41
30.00
50.00
85.71
363.00

13.31%
7.17%
13.80%
13.80%
18.24%
20.74%
23.77%
30.24%

0.99
45.24
537.64
537.64
136.93
35.79
46.50
8.85

32.90 135.22%
101.25 21.46%
50.00 17.56%

158.25
18.73
20.73

6.02
66.96
4.59

101.22
94.79
10.32

22
A member of Asia Capital Group

28 June 2013

Net Profit
4Qtrs
534.77
534.77
577.42
42.47
34.09
710.10
630.79
(78.86)
686.28
37.03
(330.44)
152.54
7.76
29.09
(225.76)
136.85
3,045.00
73.99
168.48
367.29
1,068.23
19.89

Mar'13
143.80
143.80
184.40
1.10
12.80
313.20
169.90
(54.70)
171.60
13.70
(182.64)
39.80
(2.10)
8.70
(65.80)
42.00
1,006.00
18.20
41.00
117.10
199.80
(17.00)

Dec'12
169.97
169.97
156.48
21.26
8.87
126.58
157.79
(10.48)
62.77
4.46
(117.04)
38.95
4.11
9.95
12.34
38.30
534.00
19.79
38.85
73.18
273.73
10.37

5,252.78
131.50
121.60
1,960.30
1,960.30
749.10
371.11
947.47
971.70
7,630.02
7,041.20
406.85
181.97

788.20
33.20
36.20
326.60
326.60
32.00
50.10
111.40
198.70
617.74
337.37
220.35
60.02

3,629.66
70.86
138.81
1,364.04
1,364.04
514.02
211.26
698.56
632.13
6,571.15
6,439.40
79.51
52.24

Net
Sep'12
148.50
148.50
178.10
71.65
12.42
270.32
416.78
(13.68)
543.10
27.55
(31.16)
37.07
5.77
12.26
(172.30)
56.55
806.00
36.00
88.62
65.36
594.70
15.12

Profits
Jun'12
97.04
97.04
136.29

394.71
10.36

490.68
17.08
(25.82)
109.16
109.16
99.99
54.89
71.61
163.77
219.43
145.90
33.95
39.59

160.50
160.50
103.09
54.86
65.90
221.70
118.53
73.04
30.13

0.41
36.73
5.99

710.00

111.65

Trailing Trailing PBV Mkt Cap Mn

EPS
PE
9.85
4.4
0.8
2,014.02
9.85
3.6
0.6
280.21
10.82
4.6
1.7
2,668.40
0.08
28.3
2.6
1,200.00
1.01
13.3
1.3
454.28
2.98
4.4
2.1
3,118.77
209.84
10.5
1.2
6,613.20
1.12
na
1.3
480.69
0.25
12.6
1.6
8,680.00
1.00
33.3
2.8
1,232.10
0.00
na
0.4
158.51
27.20
14.2
3.5
2,159.22
0.20
93.9
2.3
728.80
0.29
30.1
1.6
876.24
-0.93
na
1.0
1,765.28
4.15
5.5
1.0
752.40
1.93
7.6
1.2
23,223.98
0.13
17.4
1.7
1,286.79
1.46
9.7
2.0
1,630.31
na
na
na
1,787.45
0.17
24.5
3.3
26,148.62
0.88
565.6 33.63
11,252.25

0.13
2.11
74.21
74.21
24.97
7.42
11.05
2.68

11.8
49.7
15.5
5.4
12.2
7.5
9.0
5.1

1.5
2.3
2.1
0.7
2.2
1.6
2.1
1.5

1,500.00
3,937.50
23,000.00
2,565.79
9,138.00
2,800.00
8,528.57
4,973.10

213.99
4.02
3.64

2.3
4.6
9.4

3.1
1.0
1.6

16,222.13
1,883.25
1,710.00

Weekly Review by Asia Wealth Research

Company

Year
End

Price
Price Performance
(LKR) 1W(%)
1M(%) 1Q(%) 1Y(%)
(0.44)
(1.56)
18.83
51.76
141.00 (0.63)
(2.76) (5.81)
13.71
169.90
2.29
(2.36)
11.92
27.65
503.00 (8.51)
(7.67)
5.96
93.46
170.00
4.36
(1.73)
25.09
44.07
650.00
0.26
(3.69) (0.17)
1.56
1000.00 (1.00)
2.35
27.44
51.18
20.20
6.32
(11.40)
12.22 (56.09)
16.10 (0.62)
(11.05)
18.38 (52.65)
204.00
1.70
(15.04)
45.75
32.66
193.00
0.89
(3.50)
15.92
50.78
2000.00 (0.99)
(8.57) (19.61) (13.04)
75.00
0.13
(7.41)
7.14 (19.27)
48.30 (0.41)
2.77
34.54
71.89
395.00
2.44
(5.52)
18.62
95.45
119.40 (0.83)
(4.63)
10.25
40.47
1,939.90 (2.03)
(3.80)
15.47
76.35
39.00
4.21
(6.60) (6.60) (23.99)
4.20
(6.67)
2.44 (14.29)
51.80
2.17
15.11
13.85
2.50
(4.00)
9.09 (14.29)
12.10
1.69
(8.40)
7.14 (4.76)

BEVERAGE FOOD AND TOBACCO

BAIRAHA FARMS
CARGILLS
CEYLON BREWERY
CEYLON COLD STORES
CEYLON TEA SERVICES
CEYLON TOBACCO
RENUKA SHAW WALLACE (N)
RENUKA SHAW WALLACE [NV]
CONVENIENCE FOOD
DISTILLERIES
HARISCHANDRA MILLS
KEELLS FOOD PRODUCTS
KOTMALE HOLDINGS
LION BREWERY
LANKA MILK FOODS
NESTLE LANKA
THREE ACRE FARMS
RENUKA AGRI
TEA SMALLHOLDERS
RAIGAM WAYAMBA SALTERNS LTD
HVA FOODS

BFL N
CARGN
BREWN
CCS N
CTEAN
CTC N
COCON
COCOX
SOY N
DISTN
HARIN
KFP N
LAMBN
LIONN
LMF N
NESTN
TAFLN
RAL N
TSMLN
RWSLN
HVA N

MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
DiriSaviB
MainB
DiriSaviB
DiriSaviB

M
M
M
M
M
D
M
M
M
M
M
M
M
M
M
D
D
M
M
M
M

CHEMICALS & PHARMACEUTICALS

CHEMANEX
CHEMICAL INDUSTRIES [V]
CHEMICAL INDUSTRIES [NV]
HAYCARB
INDUSTRIAL ASPHALTS
J.L. MORISON [V]
J.L. MORISON [NV]
LANKEM CEYLON
SINGALANKA
MULLERS
UNION CHEMICALS
PC PHARMA

CHMXN
CIC N
CIC X
HAYCN
ASPHN
MORIN
MORIX
LCEYN
SINGN
MULLN
UCARN
PCP N

MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
DiriSaviB

M
M
M
M
M
M
M
M
M
M
D

(0.17)
81.90 (1.09)
68.00
3.82
47.50 (2.06)
197.00 (1.50)
230.00 (4.13)
351.20 (0.03)
209.90 (1.08)
150.90 (1.37)
65.60
4.29
1.50
549.80
3.70 (15.91)

CONSTRUCTIONS
COLOMBO DOCKYARD
LANKEM DEVELOPMENTS
MTD WALKERS
ACCESS ENGINEERING LIMITED

DOCKN
LDEVN
KAPIN
AEL N

MainB
MainB
MainB
MainB

D
M
M
M

221.00
6.30
31.30
20.10

(0.65)
(1.78)
(1.54)
(1.93)
0.50

Shares Trailing
Mn
ROE
21.38%
16.00 9.35%
224.00 7.44%
20.99 17.24%
95.04 20.88%
20.00 18.13%
187.32 222.73%
89.77 3.34%
4.77 3.34%
2.75 25.53%
300.00 11.18%
0.96 10.78%
25.50 5.35%
31.40 15.68%
80.00 17.70%
40.00 4.55%
53.73 112.20%
23.55
na
561.75 10.09%
30.00 10.63%
282.21 4.56%
66.43 7.63%

1.94
(6.93)
(19.91)
(13.64)
31.33
(36.27)
104.84
55.60
13.37
8.79
(6.25)
(1.82)
(73.94)

4.53
13.61
3.22
16.93
14.29 (17.95)
24.49
38.64
2.54
8.60

(3.16)
13.74
(5.86)
10.68
(2.86)
11.48
(8.83)
1.93
11.93
(6.47)
15.58
10.19 100.74
12.37 107.82
(11.24)
4.43
(11.71)
17.99
(6.25)
17.81
24.95
(33.93) (42.19)
(3.32)
(5.96)
(11.11)
2.35
(1.94)

23
A member of Asia Capital Group

28 June 2013

BVPS

106.11
34.64
146.27
96.54
395.67
19.54
23.69
23.69
132.29
164.60
992.94
62.65
23.80
73.88
218.34
57.17
32.82
3.32
26.86
2.72
7.68

Net Profit
4Qtrs
23,735.40
158.793
577.54
529.15
1,915.72
1,435.05
8,152.00
74.92
74.92
92.87
5,519.70
102.75
85.55
117.19
1,045.91
397.47
3,446.13
(263.03)
188.04
85.66
35.06
38.94

-27%
Mar'13
5,857.07
84.62
123.48
110.55
1,422.92
319.97
1,463.00
(83.02)
(83.02)
62.94
968.45
31.27
27.48
38.58
232.28
82.56
914.02
21.75
(11.70)
29.62
7.42
10.87

Dec'12
5,449.31
5.63
127.20
98.37
62.51
231.42
1,984.00
31.31
31.31
26.20
1,472.85
29.66
37.87
35.16
185.68
188.58
949.80
(33.67)
6.06
1.50
5.70
3.49

Net
Sep'12
6,377.65
18.50
81.07
169.09
179.40
456.20
2,300.00
39.80
39.80
3.90
1,616.60
22.33
4.97
16.12
314.53
78.55
798.13
3.57
198.72
30.62
20.02
25.54

Profits
Jun'12
6,001.66
50.08
245.79
151.14
250.90
427.46
2,405.00
36.79
36.79
(0.17)
1,461.80
19.49
15.23
27.34
313.42
43.98
784.17
(254.68)

6.78%
15.75
na
72.90 2.98%
21.87 2.98%
29.71 21.19%
0.67 2.61%
5.81 7.99%
1.74 7.99%
24.00 6.65%
5.54
na
283.00 15.62%
1.50 14.97%
101.00
na

79.51
81.88
81.88
148.67
134.79
266.04
266.04
185.81
53.51
0.60
199.08
1.59

1,554.73
(34.43)
230.93
230.93
935.99
2.35
160.45
160.45
296.70
(13.87)
26.55
44.70
(94.64)

328.15
(25.63)
55.28
55.28
305.87
0.82
52.52
52.52
72.81
(15.44)
0.26
9.40
(127.74)

702.71
(12.51)
152.10
152.10
196.73
0.52
46.24
46.24
307.20
(6.25)
4.12
11.27
3.29

378.49
9.86
48.63
48.63
243.24
0.47
36.52
36.52
(11.17)
11.03
13.43
5.94
20.54

127.64
(6.14)
(17.32)
(17.32)
179.15
0.55
25.17
25.17
(72.66)
(3.21)
8.74
13.37

16.41%
71.86 19.50%
60.00
na
114.36 7.11%
1000.00 19.10%

141.55
11.43
33.89
12.47

4,464.51
1,983.37
(176.67)
275.59
2,382.23

1,046.29
336.04
(204.33)
183.20
731.38

1,357.34
434.21
36.45
51.74
834.95

1,218.16
343.17
(26.82)
89.54
812.27

420.13
450.98
18.04
(48.89)

23.92

Trailing Trailing
EPS
PE
20.79
9.92
14.2
2.58
65.9
25.21
20.0
20.16
8.4
71.75
9.1
43.52
23.0
0.79
25.5
0.79
20.3
33.77
6.0
18.40
10.5
107.05
18.7
3.35
22.4
3.73
12.9
13.07
30.2
9.94
12.0
64.14
30.2
na
na
0.33
12.5
2.86
18.1
0.12
20.1
0.59
20.6

PBV Mkt Cap Mn

4.45
1.3
4.9
3.4
1.8
1.6
51.2
0.9
0.7
1.5
1.2
2.0
1.2
2.0
5.3
0.5
33.9
1.2
1.3
1.9
0.9
1.6

2,256.00
38,057.60
10,557.01
16,156.80
13,000.00
187,323.75
1,813.39
76.85
561.00
57,900.00
1,919.60
1,912.50
1,516.62
31,600.00
4,775.76
104,222.03
918.26
2,359.35
1,554.00
705.52
803.79

na
2.44
2.44
31.50
3.52
21.25
21.25
12.36
na
0.09
29.80
na

13.70
na
27.9
19.5
6.3
65.3
16.5
9.9
12.2
na
16.0
18.4
na

0.93
1.0
0.8
0.6
1.3
1.7
1.3
0.8
0.8
1.2
2.5
2.8
2.3

1,289.93
4,957.20
1,038.83
5,853.34
153.31
2,039.87
365.75
3,621.60
363.48
424.50
824.70
373.70

27.60
na
2.41
2.38

8.95
8.0
na
13.0
8.4

1.47
1.6
0.6
0.9
1.6

15,880.82
378.00
3,579.38
20,100.00

Weekly Review by Asia Wealth Research

Company

Year
End

DIVERSIFIED
AITKEN SPENCE
CARSON CUMBERBATCH
CEYLON THEATRES
COLOMBO FORT LAND
FINLAYS COLOMBO
HAYLEYS
HEMAS HOLDINGS
JOHN KEELLS HOLDINGS
DUNAMIS CAPITAL
RICHARD PIERIS
SUNSHINE HOLDINGS
SOFTLOGIC HOLDINGS
EXPOLANKA HOLDINGS
FREE LANKA CAPITAL HOLDINGS
VALLIBEL ONE LIMITED
BROWNS INVESTMENTS PLC
PCH HOLDINGS LIMITED
TAPROBANE HOLDINGS

SPENN
CARSN
CTHRN
CFLBN
JFINN
HAYLN
HHL N
JKH N
CSECN
RICHN
SUN N
SHL N
EXPON
FLCHN
VONEN
BIL N
PCHHN
TAP N

MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB

M
M
M
M
D
M
M
M
M
M
M
M
M
M
M
M
M
M

FOOTWEAR AND TEXTILES

CEYLON LEATHER
HAYLEYS - MGT
KURUWITA TEXTILES
ODEL

CLPLN
MGT N
KURUN
ODELN

MainB
MainB
MainB
DiriSaviB

M
M
M
M

HOTELS AND TRAVELS

City Hotels
ASIAN HOTEL & PROPERTIES
GALADARI
HOTEL DEVELOPERS
HOTEL SERVICES
RENUKA CITY HOTEL
TAJ LANKA
TRANS ASIA

AHPLN
GHLLN
HDEVN
SERVN
RENUN
TAJ N
TRANN

MainB
MainB
DefaultB
MainB
MainB
MainB
MainB

M
D
M
M
M
M
M

28 June 2013

Price
Price Performance
(LKR) 1W(%)
1M(%) 1Q(%) 1Y(%)
(2.62)
(7.96)
3.68
16.10
130.00 (2.62)
(4.76)
8.70
17.22
435.20 (0.11)
(1.65) (1.09) (6.21)
144.00
(4.00)
14.10
2.86
34.80
3.03
(11.46)
17.24
24.54
275.00 (0.07)
(8.12) (10.71)
2.00
306.30 (0.55)
(0.65)
2.54 (9.38)
34.50 (1.99)
1.47
27.78
56.82
252.00 (5.13)
(12.98)
1.82
35.95
14.40
0.71
8.46
20.51
41.00
6.80 (2.82)
(6.76)
4.55
2.99
35.00 (2.78)
4.17
31.58
40.00
10.00
3.09
(13.79) (3.85)
6.90
1.47
(1.43)
1.47
16.95
2.60
(3.70)
4.00
44.44
18.20 (1.62)
(8.54)
13.75
14.47
3.00
(11.76) (9.09)
11.11
3.00 (9.09)
(31.82) (49.15) (79.59)
4.90
6.52
(3.92)
13.95
11.36
4.54
18.14
(1.00)
(0.44)
0.87

(8.39)
(0.12)
(3.88)
(3.40)
(13.16)

13.85
39.00
(2.94)
3.65
10.00

22.22
8.25
25.32
(6.97)
34.30

(0.20)

(4.84)

3.77

4.90

72.00 (0.14)
12.60 (1.55)
94.80
12.20 (17.57)
275.00 (6.02)
28.90 (2.01)
81.00
3.85

(6.17)
(10.56)
(23.75)
0.77
(4.56)
(0.86)

87.90
9.90
22.70
23.50

- (2.78)
4.96 (7.30)
(8.96) (18.12)
14.58
37.50
17.20
14.01
15.06
17.39

24
A member of Asia Capital Group

Shares Trailing
Mn
ROE
11.22%
406.00 11.65%
196.39 11.57%
183.10 8.70%
180.00 9.69%
35.00 6.62%
75.00 8.26%
515.29 13.64%
857.68 13.57%
123.00 12.57%
1958.09 23.94%
133.33 16.85%
779.00 3.75%
1954.92 11.68%
1368.00 8.85%
1086.56 4.52%
1860.00
na
252.00
na
732.95 77.27%

69.10
176.65
72.20
36.47
158.05
299.45
23.59
104.79
10.37
4.06
28.14
10.32
4.65
4.72
28.58
5.70
5.53
3.99

-3.29%
2.92%
na
na
3.45%

88.43
10.17
35.51
16.76

(329.77)
88.37
(499.69)
(75.77)
157.32

49.00
2.28
na
5.57
325.61
16.69
30.27

8,665.62
3,818.96
2,494.30
220.41
na
(448.71)
266.08
221.16
1,065.72

34.23
152.34
25.00
272.13

BVPS

7.91%
442.78
500.83
45.23
176.00
7.00
139.64
200.00

11.50%
19.27%
na
na
11.67%
9.49%
17.61%

Net Profit
4Qtrs
Mar'13
33,100.83 11,696.96
3,266.84 1,193.17
4,013.75 2,408.60
1,149.70
388.39
635.91
78.68
365.93
85.12
1,855.02
490.84
1,657.66
590.54
12,201.08 5,232.99
160.43
132.00
1,902.72
330.59
632.13
145.24
301.17
11.98
1,060.66
277.51
571.16
224.70
1,403.46
242.33
(98.53)
(53.62)
(236.63) (142.00)
2,258.36
59.90

Dec'12
9,928.45
701.69
823.25
418.12
369.10
108.80
772.62
345.01
2,897.64
17.66
557.07
204.44
84.62
200.09
167.61
364.60
(227.31)
(47.72)
2,171.17

Net
Sep'12
7,131.66
731.41
874.90
147.06
7.14
82.13
372.48
387.78
2,411.73
20.37
569.53
98.31
133.57
299.27
203.23
796.53
21.70
(52.17)
26.68

Profits
Jun'12
4,201.60
640.57
(93.01)
196.16
180.99
89.88
219.08
334.33
1,658.72
(9.59)
445.54
184.14
71.01
283.79

(249.94)
9.20
(262.93)
20.18
(16.39)

22.88
35.19
(110.00)
15.96
81.73

(29.84)
16.60
(85.11)
(65.46)
104.14

(60.71)
27.38
(41.65)
(46.45)

3,864.31
1,286.21
896.80
-5.26

2,346.98
1,111.11
622.66
209.00

-106.80
33.10
25.97
442.40

(138.90)
82.10
87.46
248.79

1,964.18
1,149.27
565.37
339.77
na
(106.40)
46.60
87.53
216.40

551.82
268.53
406.75
(323.10)
na
(96.74)
104.28
23.20
154.14

Trailing Trailing
EPS
PE
15.46
8.05
16.2
20.44
21.3
6.28
22.9
3.53
9.9
10.46
26.3
24.73
12.4
3.22
10.7
14.23
17.7
1.30
11.0
0.97
7.0
4.74
7.4
0.39
25.9
0.54
12.7
0.42
6.2
1.29
14.1
na
na
na
na
3.08
1.6

2.58
na
na
0.58

5.63
0.44
na
na
38.01
1.58
5.33

PBV Mkt Cap Mn

1.73
1.9
2.5
2.0
1.0
1.7
1.0
1.5
2.4
1.4
1.7
1.2
1.0
1.5
0.6
0.6
0.5
0.5
1.2

52,779.49
85,467.58
26,366.00
6,264.00
9,625.00
22,972.50
17,777.53
216,134.55
1,771.16
13,315.00
4,666.67
7,790.00
13,488.91
3,556.80
19,775.38
5,580.00
756.00
3,591.45

na
34.1
na
na
40.6

1.15
1.0
1.0
0.6
1.4

3,009.15
1,508.20
567.50
6,395.04

17.50

1.38

12.8
28.6
na
na
7.2
18.2
15.2

1.5
5.5
na
2.2
0.8
1.7
2.7

31,879.82
6,310.45
4,287.43
2,147.20
1,925.00
4,035.52
16,200.00

Weekly Review by Asia Wealth Research

Company

Year
End

Price
Price Performance
(LKR) 1W(%)
1M(%)

1Q(%)

1Y(%)

28 June 2013

Shares Trailing
Mn
ROE

Resort Hotels
AIT. SPENCE HOTEL HOLD.
AMAYA LEISURE
BROWNS BEACH HOTELS
CEYLON HOTELS CORP.
PALM GARDEN HOTEL
BERUWALA WALK INN
EDEN HOTELS
HOTEL SIGIRIYA
HUNAS FALLS
KANDY HOTELS
JOHN KEELLS HOTELS
LIGHT HOUSE HOTEL
MIRAMAR
MAHAWELI REACH
NUWARA ELIYA
PEGASUS
CITRUS LEISURE
ROYAL PALMS
SIGIRIYA VILLAGE
DOLPHIN HOTELS
TANGERINE
SERENDIB HOTELS [V]
SERENDIB HOTELS [NV]
MARAWILA RESORTS
FORTRESS RESORTS
KALPITIYA BEACH RESORT
WASKADUWA BEACH RESORT
BERUWALA RESORTS
HIKKADUWA BEACH RESORT

AHUNN
CONNN
BBH N
CHOTN
PALMN
BINNN
EDENN
HSIGN
HUNAN
KHC N
KHL N
LHLN
MIRAN
MRH N
NEH N
PEG N
REEFN
RPBHN
SIGVN
STAFN
TANGN
SHOTN
SHOTX
MARAN
RHTLN
CITKN
CITWN
BERUN
CITHN

MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
DiriSaviB
DefaultB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB

M
M
M
M
M
D
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M

74.00
0.13
80.00 (0.12)
19.00
4.40
18.20 (6.19)
87.50
70.10 (2.91)
36.00
1.12
83.20 (3.14)
52.00 (7.14)
9.00 (2.15)
13.10
45.70 (1.72)
63.60 (15.84)
18.90 (1.56)
1302.00
0.08
38.50 (3.51)
20.90
1.94
33.30 (1.19)
67.40
36.00 (4.26)
65.00
27.70
4.12
16.80
1.82
7.20
1.43
16.60
3.82
6.90
2.99
6.90
2.94
2.20
4.76
25.50
-

(3.97)
1.22
11.96
4.58
14.29
(12.44)
10.47
37.68
(18.75)
8.33 (2.15)
(9.79) (8.38) (41.71)
(6.53)
34.29
25.18
1.12
2.86
22.03
4.65
5.32
8.47
(3.88) (0.95) (8.77)
(7.14)
2.25
54.24
(0.75)
10.00
(5.58) (3.59) (3.59)
(12.55) (27.52) (43.50)
(4.06) (4.06) (5.50)
(4.62)
0.15
5.51
(3.75)
4.34
23.40
(14.63)
8.81 (25.53)
(10.00) (4.86) (30.77)
(4.13) (2.32)
6.14
(1.91)
9.09
13.56
(7.14) (0.61) (26.97)
6.51
17.30
29.30
(5.62) (2.89)
20.00
(6.58)
18.33
18.33
8.67
10.14
(12.66)
25.45
7.81
(4.11)
32.08 (20.45)
(4.35)
10.00
2.41
41.67
-

336.29
48.03
129.60
171.83
10.82
0.90
52.80
5.86
5.63
577.50
1456.15
46.00
2.75
47.07
2.00
30.39
96.48
50.00
9.00
31.62
20.00
75.51
36.01
122.50
110.89
161.20
155.60
600.00
57.57

INVESTMENT TRUST
ASCOT HOLDINGS
CEYLON GUARDIAN
CEYLON INVESTMENT
COLOMBO FORT INV.
COLOMBO INV. TRUST
LEE HEDGES
RENUKA HOLDINGS [V]
RENUKA HOLDINGS [NV]
GUARDIAN CAPITAL

ASCON
GUARN
CINVN
CFIN
CIT N
SHAWN
RHL N
RHL X
WAPON

MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
DiriSaviB

M
M
M
M
M
M
M
M
M

0.98
135.00 (8.47)
188.00
1.35
93.10
3.78
108.00 (2.00)
125.00 (14.38)
240.50 (0.99)
35.90
7.42
25.50 (2.67)
38.50 (1.03)

(6.93)
11.26
13.56
(10.66) (14.18) (35.10)
(4.57)
17.50
17.50
(6.70)
16.63
29.58
(13.53)
16.13 (1.82)
(16.67)
13.64
11.11
(3.02) (1.84)
20.31
1.03
26.13
26.13
(12.07)
19.16
10.39
(15.79) (0.52) (20.00)

7.99
82.10
98.51
6.50
6.50
5.12
44.52
6.43
25.83

25
A member of Asia Capital Group

BVPS

13.79%
38.44
15.13%
51.47
5.39%
26.86
na
33.67
na 118.00
na
na
8.97%
44.72
28.41%
40.55
6.82%
56.57
2.83%
10.14
6.88%
11.19
4.67%
52.25
na
na
6.19%
19.97
10.99% 1232.12
10.58%
44.18
na
29.43
6.54%
33.74
9.31%
73.18
19.64%
32.61
3.96% 122.42
15.15%
16.22
15.15%
16.22
2.54%
7.29
14.77%
9.62
na
9.91
0.15%
10.38
na
0.98
5.97%
14.98
10.41%
2.36%
13.62%
14.41%
na
na
na
13.25%
13.25%
na

69.90
179.14
88.68
196.52
211.86
438.49
45.17
45.17
18.70

Net Profit
4Qtrs
4,846.66
1,782.02
374.07
187.74
(123.90)
(368.23)
(23.98)
211.85
67.51
21.70
165.80
1,121.02
112.16
na
58.20
271.38
142.00
(6.20)
110.30
61.33
202.50
97.04
274.10
274.10
22.70
157.50
(118.48)
2.38
(7.35)
51.50
3,297.04
13.19
2,002.40
1,258.76
(34.86)
(113.10)
(100.56)
305.00
305.00
(33.79)

13.46
48.20
48.08
12.41
37.27
13.74
52.80
46.66
68.03
68.03
(0.70)
57.36
(41.77)
(2.26)
10.60
20.33

Net
Sep'12
814.92
227.60
110.82
50.60
9.60
(22.15)
(4.79)
26.23
16.50
11.17
50.60
116.49
12.10
na
19.53
107.56
17.60
4.60
16.97
12.15
30.00
17.68
40.75
40.75
(5.30)
35.35
(49.51)
12.14
(41.72)
(7.66)

Profits
Jun'12
283.29
171.51
53.47
45.04
(25.93)
(121.80)
(16.59)
15.11
7.77
7.70
26.87
40.36
14.29
na
1.01
36.72
21.23
(22.02)
(1.24)
(1.26)
26.49
9.34
(4.78)
(4.78)

524.63
(5.70)
200.10
196.14
2.29
0.71
(72.90)
263.06
263.06
(59.08)

539.00
22.47
324.44
148.66
10.50
12.18
(38.57)
47.90
47.90
11.42

(156.22)
31.09
(77.01)
(53.46)
2.48
3.30
(36.99)
30.34
30.34
(55.97)

Mar'13
2,578.10
946.20
127.40
41.20
-79.30
-130.00
-4.20
97.40
26.50
21.70
42.30
741.80
57.10

Dec'12
1,235.87
436.71
82.38
50.87
(16.33)
(89.87)
1.60
73.56
16.74
4.38
40.58
222.37
28.67

24.20
78.90
47.60
35.80
57.30
36.70
93.10
23.40
169.80
169.80
28.70
66.40
-27.20
-7.50
24.00
38.80
1,994.81
(2.89)
1316.50
763.20
-39.90
-56.30
47.90
-36.30
-36.30
2.60

Trailing Trailing
EPS
PE

PBV Mkt Cap Mn

5.30
7.79
1.45
na
na
na
4.01
11.52
3.86
0.29
0.77
2.44
na
1.24
135.43
4.67
na
2.21
6.81
6.40
4.85
2.46
2.46
0.19
1.42
na
0.02
na
0.89

14.0
10.3
13.1
na
na
na
9.0
7.2
13.5
31.3
17.0
18.7
na
15.3
9.6
8.2
na
15.1
9.9
5.6
13.4
11.3
6.8
38.9
11.7
na
451.3
na
28.5

1.9
1.6
0.7
0.5
0.7
na
0.8
2.1
0.9
0.9
1.2
0.9
na
0.9
1.1
0.9
0.7
1.0
0.9
1.1
0.5
1.7
1.0
1.0
1.7
0.7
0.7
2.2
1.7

24,885.46
3,842.74
2,462.40
3,127.22
946.47
63.09
1,900.80
487.47
292.50
5,197.50
19,075.52
2,102.20
174.90
889.56
2,609.04
1,170.07
2,016.37
1,665.00
606.60
1,138.37
1,300.00
2,091.76
604.99
882.00
1,840.72
1,112.28
1,073.64
1,320.00
1,468.13

1.65
24.39
12.78
na
na
na
5.99
5.99
na

9.46
81.7
7.7
7.3
na
na
na
6.0
4.3
na

0.98
1.9
1.0
1.0
0.5
0.6
0.5
0.8
0.6
2.1

1,078.04
15,434.18
9,171.73
702.00
812.50
1,231.49
1,598.17
163.92
994.60

Weekly Review by Asia Wealth Research

Company

Year
End

LAND AND PROPERTY

C T LAND
CARGO BOAT
CEYLINCO HOUSING
CEYLINCO SEYLAN
COLOMBO LAND
COMMERCIAL DEVELOP.
EAST WEST
EQUITY ONE
EQUITY TWO
HUEJAY
KELSEY DEVELOPMENTS
ON'ALLY HOLDINGS
OVERSEAS REALTY
PROPERTY DEVELOPMENT
SERENDIB LAND
YORK ARCADE
SERANDIB ENGINEERING GROUP
TOUCHWOOD

CTLDN
CABON
CHOUN
CSD N
CLNDN
COMDN
EASTN
EQITN
ETWON
HUEJN
KDL N
ONALN
OSEAN
PDL N
SLNDN
YORKN
IDL N
TWODN

MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
DiriSaviB
DiriSaviB

M
M
M
M
D
D
M
M
M
M
M
M
D
D
M
M
M
M

Price
Price Performance
(LKR) 1W(%)
1M(%) 1Q(%) 1Y(%)
1.05
(6.73)
28.37
34.46
30.70
5.86
6.23
27.39
24.29
110.00
0.82
(13.39)
41.03
54.93
13.90
(2.11) (4.14)
15.83
10.90
2.80
(6.78)
27.91
57.14
48.80
0.84
(6.05)
57.70
48.00
61.60 (9.28)
(16.64)
2.67 (4.64)
15.00 (4.46)
(9.64)
15.38
25.00
31.50
1.61
(8.16)
12.10
18.87
26.10 (7.77)
3.57
8.75
45.00
73.90
5.87
22.96
10.13
22.20 (3.48)
26.86
48.00
66.92
53.20 (3.27)
(0.56)
10.83
6.40
18.70
2.19
(8.78)
33.57
42.75
56.00
4.07
(3.93)
12.40
40.50
1450.20
(14.69) (7.75) (29.22)
15.60
2.63
(10.34)
4.00
13.87
179.00
2.29 (12.34)
11.88
4.90
(15.52) (14.04) (65.97)

26
A member of Asia Capital Group

28 June 2013

Shares Trailing
Mn
ROE
9.24%
48.75 10.32%
10.20 11.75%
13.38 15.49%
147.96 1.00%
199.88 1.30%
12.00 20.12%
138.24
na
40.32 8.38%
31.00 7.48%
1.80
na
17.43
na
17.50 5.72%
843.48 13.17%
66.00 12.10%
0.36 4.21%
12.00 0.83%
6.48
0.16
106.91
0.02

BVPS

52.61
79.02
10.62
28.62
18.57
101.90
9.41
41.93
19.21
na
3.26
66.10
26.60
43.81
656.12
13.42
23.92
28.91

Net Profit
4Qtrs
4,289.31
264.76
94.74
22.01
42.53
48.44
246.00
(35.92)
141.66
44.55
(4.29)
(55.08)
66.21
2,954.53
349.77
9.95
1.34
24.78
73.33

Mar'13
815.31
190.85
18.11
(41.42)
22.88
(3.31)
25.07
(20.74)
121.32
44.86
(1.32)
(9.86)
12.93
475.67
93.03
2.36
6.54
12.23
(133.89)

Dec'12
2,532.48
34.76
25.04
5.90
(30.39)
65.45
199.09
(7.30)
7.25
(0.39)
(1.12)
(18.94)
17.58
2,111.02
102.08
2.59
3.44
2.27
14.15

Net
Sep'12
685.54
38.52
27.20
31.77
26.80
(5.10)
17.89
18.58
6.91
(0.09)
1.00
(9.95)
17.48
273.58
87.96
2.79
2.65
22.26
125.30

Profits
Jun'12
271.68
39.19
24.39
25.67
23.25
(8.60)
3.94
(6.15)
6.63
0.17
(1.20)
(20.32)
18.23
94.27
66.70
2.21
3.31

Trailing Trailing
EPS
PE
10.23
5.43
5.7
9.29
11.8
1.65
8.4
0.29
37.9
0.24
201.4
20.50
3.0
na
na
3.51
9.0
1.44
18.2
na
na
na
na
3.78
14.1
3.50
5.3
5.30
10.6
27.64
52.5
0.11
139.6
3.83
46.79
0.69
7.14

PBV Mkt Cap Mn

0.95
0.6
1.4
1.3
0.4
2.6
0.6
1.6
0.8
1.4
na
6.8
0.8
0.7
1.3
2.2
1.2
7.5
0.2

1,496.63
1,122.00
185.98
1,612.82
9,754.19
739.20
2,073.60
1,270.13
809.10
133.02
386.93
931.04
15,773.16
3,696.00
522.07
187.20
1159.32
523.84

Weekly Review by Asia Wealth Research

Company

Year
End

MANUFACTURING
ABANS
ACL CABLES
ACL PLASTICS
ACME
ALUFAB
BLUE DIAMONDS [V]
BLUE DIAMONDS [NV]
BOGALA GRAPHITE
CENTRAL INDUSTRIES
GRAIN ELEVATORS
CHEVRON LUBRICANTS
DANKOTUWA
DIPPED PRODUCTS
HAYLEYS FIBRE
KELANI CABLES
KELANI TYRES
LANKA ALUMINIUM
LANKA CEMENT
LANKA CERAMIC
LANKA FLOORTILES
LANKA WALLTILES
LAXAPANA
SWISSTEK (CEYLON) PLC
PELWATTE SUGAR
PIRAMAL GLASS
PRINT CARE
REGNIS
RICH PIERIS EXPORTS
ROYAL CERAMICS
SAMSON INTERNATIONAL
SINGER INDUSTRIES
SWADESHI
TOKYO CEMENT [V]
TOKYO CEMENT [NV]
SIERRA CABLES
TEXTURED JERSEY
AGSTAR FERTILIZERS LIMITED
AGSTAR FERTILIZERS LIMITED
ORIENT GARMENTS

ABANN
ACL N
APLAN
ACMEN
ALUFN
BLUEN
BLUEX
BOGAN
CINDN
GRANN
LLUBN
DPL N
DIPDN
HEXPN
KCABN
TYREN
LALUN
LCEMN
CERAN
TILEN
LWL N
LITEN
PARQN
SUGAN
GLASN
CAREN
REG N
REXPN
RCL N
SIL N
SININ
SWADN
TKYON
TKYOX
SIRAN
TJL N
AGSTN
AGSTX
OGL N

MainB
MainB
MainB
MainB
DefaltB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
DiriSaviB
DiriSaviB
DiriSaviB

M
M
M
M
M
M
M
D
M
D
D
D
M
M
M
M
M
D
M
M
M
M
M
M
M
M
D
M
M
M
D
M
M
M
M
M
M
M
M

Price
Price Performance
(LKR) 1W(%)
1M(%) 1Q(%) 1Y(%)
0.82
(3.27)
19.27
29.72
135.00
0.67
18.42
50.67
37.06
68.50
1.03
(7.93)
4.58
21.67
93.00
2.99
(7.00) (5.97)
16.10
11.80 (2.50)
(7.14)
- (9.30)
17.50
1.74
(6.91) (2.78) (35.90)
2.90 (6.45)
(21.62) (3.33) (36.96)
1.30 (7.14)
(18.75) (13.33) (27.78)
27.00 (1.14)
(1.89)
30.00
26.21
70.00
12.00
7.53
46.00
4.36
(5.21) (8.45) (5.21)
295.00
1.76
(6.44)
35.99
75.55
14.30 (0.69)
(14.37)
3.62
9.16
125.00 (0.79)
(1.34)
12.61
27.81
28.00 (3.45)
(7.89) (3.45)
20.69
80.00
5.26
24.80
28.00
46.00
3.37
12.20
33.33
76.92
30.60
0.66
(5.85)
13.33
50.00
9.00 (3.41)
(13.27)
1.19
6.25
120.00
4.26
0.08
84.62
88.68
79.90
5.13
8.71
14.96
22.73
64.50 (4.51)
(11.81)
13.60
4.10
4.80 (2.13)
(16.36)
4.55 (32.35)
15.00
(3.85)
25.00 (0.66)
23.50
6.60
8.20
29.41
30.00
2.14
(4.33)
2.50 (1.03)
72.00 (0.14)
(5.10)
18.03 (23.32)
37.00 (3.39)
(12.74)
23.33
79.61
105.90
0.19
(1.76)
6.53
13.37
103.30
3.40
7.60
25.67
14.78
122.60 (3.84)
(14.39)
2.17 (23.85)
7555.00
51.09
51.09
98.82
25.10 (1.57)
(2.72)
6.38 (16.39)
21.00 (0.48)
6.67
18.86 (1.89)
2.20
(8.33)
- (8.33)
12.20
1.67
1.67
23.23
52.50
6.7 (2.90)
(12.99)
17.54 (18.29)
15
7.6 (5.00)
(18.28) (3.80) (44.93)

27
A member of Asia Capital Group

28 June 2013

Shares Trailing
Mn
ROE
16.19%
4.26 25.70%
59.89 9.30%
4.21 6.58%
25.61
na
12.06
na
103.30
na
153.37
na
47.32 28.08%
9.88 10.23%
60.00 5.56%
120.00 52.84%
72.25 5.66%
59.86 20.72%
8.00 6.11%
21.80 9.39%
80.40 25.21%
13.70
na
173.51
na
30.00 10.93%
53.05 20.21%
54.60 11.26%
39.00
na
27.37
na
67.98
na
950.09 19.96%
85.97 12.00%
11.27 11.25%
11.16 94.42%
110.79 19.88%
3.85 11.44%
3.85 2.15%
0.13 0.36%
202.50 12.32%
101.25 12.32%
537.51
na
655.00 17.74%
307.53 10.10%
17.47 10.10%
54.92 6.02%

BVPS

135.45
95.47
144.36
19.61
21.36
1.17
1.17
3.93
95.41
44.74
37.80
10.43
114.34
53.55
99.44
21.82
40.76
na
91.91
59.67
84.57
3.66
22.25
na
3.82
25.64
68.50
13.10
75.83
102.87
234.34
999.68
22.13
22.13
3.08
8.75
6.71
118.08
13.01

Net Profit
4Qtrs
11,898.73
148.22
532.03
40.01
(41.26)
na
(26.31)
(26.31)
52.23
96.46
149.25
2,396.43
42.63
1,417.89
26.17
203.53
442.27
(9.96)
(17.80)
301.38
639.85
520.01
(42.20)
(10.57)
na
724.38
264.52
86.82
138.07
1,670.39
45.30
19.39
0.47
827.85
827.85
(6.77)
1,016.57
208.47
208.47
43.03

Mar'13
3,863.97
42.66
99.28
7.60
(7.89)

Dec'12
3,075.40
46.61
243.88
9.76
5.40

Net
Sep'12
2,805.89
50.92
81.21
1.28
(25.48)

(6.84)
(6.84)
15.60
25.87
17.52
769.86
0.62
379.48
7.30
60.12
114.58
(11.87)
137.18
265.67
260.77
2.72
17.33

(10.30)
(10.30)
(8.25)
18.39
(229.44)
571.41
(12.87)
407.70
3.85
25.38
116.40
(4.99)
(4.15)
88.83
161.15
123.96
0.18
(12.27)

0.24
0.24
16.88
30.98
(34.78)
521.99
31.20
345.02
6.92
57.21
130.24
(6.86)
(4.22)
90.02
159.02
151.07
(40.30)
2.09

110.79
74.60
41.74
24.57
573.70
6.49
6.14
25.18
447.63
447.63
(1.23)
322.95
(20.04)
(20.04)
53.90

206.66
61.28
19.62
25.58
497.19
12.32
10.83
(8.12)
224.64
224.64
0.69
365.0
106.74
106.74
12.37

265.13
60.27
7.44
51.63
420.40
13.74
0.56
(3.24)
175.57
175.57
(8.75)
156.7
125.04
125.04
(23.23)

Profits
Jun'12
2,253.83
8.04
118.11
26.77
(13.30)
3.06
(21.41)
(21.41)
27.99
21.22
395.95
533.17
23.67
285.68
7.21
60.82
81.06
13.76
(4.50)
(16.65)
54.00
(15.79)
(4.76)
(17.71)
148.94
70.28
18.03
36.29
260.77
12.76
1.87
(14.07)
(19.99)
(19.99)
0.63
171.94

Trailing Trailing
EPS
PE
9.98
34.80
3.9
8.88
7.7
9.50
9.8
na
na
na
na
na
na
na
na
1.10
24.5
9.76
7.2
2.49
18.5
19.97
14.8
0.59
24.2
23.69
5.3
3.27
8.6
9.34
8.6
5.50
8.4
na
na
na
na
10.05
11.9
12.06
6.6
9.52
6.8
na
na
na
na
na
na
0.76
8.7
3.08
9.7
7.71
9.3
12.37
3.0
15.08
7.0
11.77
8.8
5.04
24.3
3.57 2115.6
2.73
9.2
2.73
7.7
na
na
1.55
7.9
0.68
9.9
11.93
1.3
0.78
9.7

PBV Mkt Cap Mn

1.62
1.0
0.7
0.6
0.6
0.8
2.5
1.1
6.9
0.7
1.0
7.8
1.4
1.1
0.5
0.8
2.1
0.8
na
1.3
1.3
0.8
1.3
0.7
na
1.7
1.2
1.1
2.8
1.4
1.0
0.5
7.6
1.1
0.9
0.7
1.4
1.0
0.1
0.6

574.94
4,102.72
391.76
302.24
211.02
299.57
199.38
1,277.54
691.89
2,760.00
35,400.00
1,033.11
7,482.69
224.00
1,744.00
3,698.40
419.31
1,561.60
3,600.00
4,238.73
3,521.70
187.20
410.58
1,597.46
6,270.57
2,579.00
811.29
413.06
11,732.60
397.50
471.56
987.18
5,082.75
2,126.25
1,182.53
7,991.03
2,060.43
262.11
417.37

Weekly Review by Asia Wealth Research

Company

Year
End

MOTORS
AUTODROME
COLONIAL MOTORS
DIMO
LANKA ASHOK
SATHOSA MOTORS
UNITED MOTORS

AUTON
COLON
DIMON
ASHON
SMOTN
UML N

MainB
MainB
MainB
MainB
MainB
MainB

M
M
M
M
M
M

Price
Price Performance
(LKR) 1W(%)
1M(%)
(1.32)
(2.75)
869.00
1.06
(2.45)
99.50 (3.77)
(13.55)
529.90 (3.65)
(10.03)
1800.00
(0.28)
235.50
2.26
(3.92)
120.00 (1.40)
2.67

OIL PALMS
BUKIT DARAH
GOOD HOPE
INDO MALAY
SELINSING
SHALIMAR

BUKIN
GOODN
INDON
SELIN
SHALN

MainB
MainB
MainB
MainB
MainB

M
M
M
M
M

695.60
1399.90
1335.00
1100.00
950.00

(0.98)
(1.43)
-

(1.79)
(1.45)
7.68
(1.11)
(9.84)
(8.38)

2.29 (7.03)
(1.40) (10.07)
27.26
11.99
1.06 (6.12)
9.99 (0.06)
8.00 (5.00)

AGALN
BALAN
BOPLN
HAPUN
HOPLN
KAHAN
KGALN
KVALN
KOTAN
MADUN
MAL N
MALX
MASKN
NAMUN
TPL N
UDPLN
WATAN
ELPLN
MPRHN
ASPMN

MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
DiriSaviB
MainB
DiriSaviB
DiriSaviB
DiriSaviB

D
D
M
D
M
D
M
D
M
D
D
D
M
M
D
D
M
M
M
M

27.30
28.90
12.00
34.10
25.80
33.70
110.00
84.00
53.50
13.60
4.70
4.00
13.50
80.00
23.10
30.00
12.40
18.90
28.50
45.50

0.67
1.11
(0.69)
0.84
(5.28)
(0.77)
4.01
(0.09)
3.19
(3.55)
(2.08)
(6.98)
(2.17)
2.56
1.32
15.04
-

(4.41)
(14.95)
(9.69)
(4.00)
(11.20)
(6.86)
(7.92)
(5.98)
(4.63)
(6.21)
(11.11)
(1.46)
(4.19)
(8.33)
10.00
(4.72)
2.16
4.43
-

0.56
16.76
(19.47) (9.00)
(13.99)
21.43
4.35
53.85
(13.01) (13.67)
(2.64)
27.09
(2.88)
4.33
(1.79)
20.88
(1.41) (6.67)
(0.93) (6.14)
10.57
43.16
11.90
27.03
17.65
11.57
4.65
4.44
39.13
(11.83)
41.72
27.60
66.15
8.04
45.78
9.88
45.38
25.78
52.97
-

ASHAN
AMSLN
ASIRN
CHL N
CHL X
LHCLN
NHL N

DiriSaviB
MainB
MainB
MainB
MainB
MainB
MainB

M
M
M
M
M
M
M

267.00
10.40
14.90
105.00
75.00
40.10
3.10

1.21
(0.96)
1.36
(0.10)
4.17
-

(3.42)
(9.18)
(1.90)
(1.97)
2.94
(1.57)
(4.76)
(3.13)

PLANTATIONS
AGALAWATTE
BALANGODA
BOGAWANTALAWA
HAPUGASTENNE
HORANA PLANTATION
KAHAWATTE
KEGALLE
KELANI VALLEY
KOTAGALA
MADULSIMA
MALWATTE VALLEY
MALWATTE VALLEY
MASKELIYA
NAMUNUKULA
TALAWAKELLE
UDAPUSSELLAWA
WATAWALA PLANTATIONS
ELPITIYA
MET.RES.HOL
AITKEN SPENCE PLANTATION
MANAGEMENTS
HEALTH SERVICES
ASIRI CENTRAL
ASIRI SURGICAL
ASIRI HOSPITAL
CEYLON HOSPITALS [V]
CEYLON HOSPITALS [NV]
LANKA HOSPITALS
NAWALOKA

1Q(%) 1Y(%)
11.39
11.51
(0.55)
6.93
19.88 (52.09)
4.93 (8.65)
4.79
3.45
2.75
19.24
24.27
56.56

Shares Trailing
Mn
ROE
13.65%
1.20 5.28%
15.20 0.78%
8.88 6.06%
3.62 14.32%
6.03 26.20%
67.27 27.31%

16.75
6.80
10.75
30.70
5.00
(0.13)
14.29
6.90

42.05
16.09
37.33
93.51
27.43
17.19
29.87
6.90

28
A member of Asia Capital Group

28 June 2013

BVPS

489.31
250.88
859.71
649.41
126.90
109.57

Net Profit
4Qtrs
3,073.22
31.00
29.80
462.09
336.80
200.63
2,012.90

Mar'13
639.40
6.30
174.60
-8.00
-143.10
69.40
540.20

Dec'12
352.07
8.14
5.60
4.50
143.31
53.32
137.20

Net
Sep'12
562.72
12.18
51.28
113.23
24.14
40.79
321.10

Profits
Jun'12
1,810.28
4.38
130.55
352.36
317.09
37.12
968.78

10.50%
102.00 15.83%
6.87 2.61%
7.00 2.77%
6.94 3.97%
6.94 3.22%

312.21
818.43
786.82
933.71
800.95

5,778.00
5,042.37
146.61
152.69
257.40
178.94

2,255.03
2,146.35
21.97
21.68
37.10
27.93

1,182.34
1,071.82
18.19
20.07
44.32
27.94

1,001.86
832.97
34.69
31.80
63.85
38.56

685.30
353.77
72.40
73.48
105.66
79.99

25.00
23.64
83.75
46.32
25.00
79.89
25.00
34.00
40.00
29.00
224.59
23.00
53.95
23.75
23.75
19.40
236.67
72.87
17.26
21.30

16.26%
38.44%
2.37%
33.81%
3.74%
13.50%
9.39%
16.20%
25.90%
15.08%
3.18%
12.50%
12.50%
17.10%
20.50%
21.66%
4.23%
17.70%
17.25%
33.03%
19.57%

48.47
111.60
12.44
34.89
59.57
15.18
133.97
73.98
85.64
62.36
8.66
8.66
29.11
84.03
60.67
28.46
16.24
34.59
45.02
56.68

5,913.06
465.71
62.49
352.16
60.41
201.04
113.92
542.47
651.46
516.73
57.49
268.02
268.02
268.54
409.16
312.09
23.33
680.24
434.80
256.75
236.25

1,215.12
1.5
11.4
67.9
41.56
47.65
72.32
95.43
150.98
113.22
14.17
51.05
51.05
88.93
86.27
85.40
29.40
124.84
66.12
66.99

2,031.12
304.74
(10.62)
146.26
(46.86)
100.79
(0.86)
168.76
199.06
190.95
59.74
8.11
8.11
123.89
147.20
164.90
(43.91)
286.59
125.46
106.93

1,365.79
160.60
(12.17)
88.90
13.43
41.06
13.20
155.61
173.22
107.80
(42.92)
94.02
94.02
21.51
103.40
35.16
0.70
186.23
133.19
92.84

1,103.31
(1.16)
73.87
49.14
52.29
11.54
29.26
122.68
128.20
104.76
26.51
114.84
114.84
34.22
72.29
26.62
37.14
157.32
63.81
-

17.25%
na
50.56%
12.09%
9.74%
9.74%
12.66%
15.98%

86.91
6.51
5.85
72.7
72.7
17.00
2.68

3,785.98
(64.67)
1,738.38
777.25
249.01
249.01
481.66
604.34

847.06
(19.57)
157.58
268.52
74.16
74.16
175.32
191.05

1,822.74
(45.09)
1,365.90
220.29
54.48
54.48
99.12
128.05

510.06
(38.10)
104.26
112.21
49.92
49.92
94.57
187.20

577.66

22.33
528.46
1099.09
25.53
8.35
223.73
1409.51

110.65
176.23
80.08
80.08
112.65
98.04

Trailing Trailing
EPS
PE
7.57
25.83
33.6
1.96
50.8
52.06
10.2
93.02
19.4
33.25
7.1
29.92
4.0

PBV Mkt Cap Mn

1.03
1.8
0.4
0.6
2.8
1.9
1.1

1,042.80
1,512.40
4,703.62
6,517.52
1,420.92
8,072.05

49.43
21.34
21.82
37.09
25.78

18.0
14.1
65.6
61.2
29.7
36.8

1.9
2.2
1.7
1.7
1.2
1.2

70,951.20
9,619.14
9,342.86
7,634.09
6,593.08

18.63
2.64
4.20
1.30
8.04
1.43
21.70
19.16
12.92
1.98
1.08
1.08
4.98
17.23
13.14
1.20
2.87
5.97
14.87
11.09

4.3
1.5
10.9
2.9
26.1
3.2
23.6
5.1
4.4
4.1
6.9
4.3
3.7
2.7
4.6
1.8
24.9
4.3
3.2
1.9
4.1

0.69
0.6
0.3
1.0
1.0
0.4
2.2
0.8
1.1
0.6
0.2
0.5
0.5
0.5
1.0
0.4
1.1
0.8
0.5
0.6
0.8

682.50
683.09
1,005.00
1,579.37
645.00
2,692.29
2,750.00
2,856.00
2,140.00
394.40
1,055.57
92.00
728.37
1,900.00
548.63
581.97
2,934.67
1,377.18
492.05
969.15

na
3.29
0.71
7.35
7.35
2.15
0.43

11.7
na
3.2
21.1
14.3
10.2
18.6
7.2

2.03
3.1
1.6
2.5
1.4
1.0
2.4
1.2

5,963.17
5,495.96
16,376.48
2,680.36
625.91
8,971.66
4,369.47

Weekly Review by Asia Wealth Research

Company

Year
End

28 June 2013

SERVICES
JOHN KEELLS LIMITED
LAKE HOUSE PRINTING
MERC. SHIPPINGS
CEYLON PRINTERS
KALAMAZOO
PARAGON
CEYLON TEA BROKERS
ASIA SIYAKA COMMODITIES

JKL N
LPRTN
MSL N
CPRTN
KZOON
PARAN
CTBLN
ASIYN

MainB
MainB
MainB
MainB
MainB
MainB
DiriSaviB
DiriSaviB

M
M
M
M
M
M
M
M

Price
Price Performance
(LKR) 1W(%)
1M(%) 1Q(%) 1Y(%)
0.39
(6.27)
19.67
29.57
83.90
2.07
(4.23)
36.70
39.67
104.90 (3.76)
(6.34) (1.04)
31.13
169.00
5.63
(5.32)
17.12
11.92
1293.50
(10.79) (7.60) 762.33
1364.50 (10.79)
(16.85) (31.78)
9.07
1300.00
36.83
18.38
44.44 (15.58)
4.30 (2.33)
(14.29) (20.75) (16.00)
2.40 (14.81)
(17.86) (17.86)
-

STORES AND SUPPLIES

COLOMBO PHARMACY
E B CREASY
GESTETNER
HUNTERS

PHARN
EBCRN
GESTN
HUNTN

MainB
MainB
MainB
MainB

M
M
M
M

548.40
1150.00
189.00
370.00

(2.57)
3.67
(4.02)
(2.98)
(2.37)

(8.69)
(15.49)
(5.95)
(5.03)
(10.84)

TRADING
BROWNS
C W MACKIE
CEYLON FOREIGN TRADES
EASTERN MERCHANTS
ENVIRONMENTAL RESOURCES
RADIANT GEMS
SINGER SRI LANKA
OFFICE EQUIPMENT
TESS AGRO

BRWNN
CWMN
CFT N
EMERN
GREGN
RGEMN
SINSN
OFEQN
TESSN

MainB
MainB
MainB
DefaultB
MainB
MainB
MainB
MainB
DiriSaviB

M
D
M
M
M
M
D
M
M

118.70
72.90
7.50
8.30
14.90
42.60
98.00
2850.00
2.10

0.50
(1.34)
4.14
2.74
2.47
(0.67)
(6.58)
0.93
(4.76)

(3.51)
1.24
6.93
(6.30) (0.42)
11.81
(2.80)
8.81
19.51
17.19
47.06
53.06
(16.16) (2.35) (3.49)
(11.90) (5.13)
1.37
(12.53) (11.43) (20.22)
(2.10) (1.51)
9.20
14.01 211.78
(4.76)
- (20.00)

2.90%
70.88 1.63%
35.99 9.75%
140.20 0.82%
117.45
na
349.37
na
2.40
na
125.21 18.66%
0.08
na
180.00
na

207.36
46.18
6.26
8.66
23.27
7.63
37.39
546.33
1.94

912.89
240.04
161.98
7.23
(69.41)
(278.42)
(6.90)
873.24
(2.09)
(12.79)

669.64
768.13
46.85
1.10
(28.16)
(291.18)
(3.40)
174.84
6.96
(5.50)

(292.87)
(498.97)
17.61
2.55
(39.95)
31.72
(3.72)
194.18
1.80
1.91

294.12
190.84
11.59
6.83
(16.69)
(80.65)
(0.06)
194.17
(2.77)
(9.14)

300.32
(219.96)
85.92
(3.25)
39.55
83.85
0.34
310.05
3.81

POWER & ENERGY

HEMAS POWER
LANKA IOC
VIDULLANKA
VALLIBEL POWER
LAUGFS GAS
LAUGFS GAS [NV]
HYDRO POWER
PANASIAN POWER
MACKWOODS ENERGY LIMITED

HPWRN
LIOCN
VLL N
VPELN
LGL N
LGL X
HPFLN
PAP N
MEL N

MainB
MainB
MainB
MainB
DiriSaviB
DiriSaviB
MainB
MainB
DiriSaviB

M
M
M
M
M
M
M
M
M

19.00
25.30
3.60
6.20
26.00
20.20
5.70
2.50
9.20

0.12
(3.02)
0.40
1.57
1.01
1.75
(4.00)
(3.16)

(8.38)
9.87
25.79
(6.76) (7.66)
6.04
(8.33)
24.02
55.21
(5.26)
2.86 (25.00)
1.64
10.71
19.23
(13.38)
5.71
29.50
(9.46)
12.92
60.80
(1.69)
1.75
3.57
(11.11) (11.11)
(14.81) (18.58) (22.03)

125.20
532.53
477.27
747.11
335.00
52.00
109.09
500.00
100.00

17.25%
9.88%
22.33%
10.55%
15.86%
16.35%
16.35%
na
10.28%
5.89%

22.82
24.46
2.31
2.44
16.76
16.76
6.90
1.61
6.88

4,751.00
282.45
2,908.80
116.33
289.14
1,060.82
1,060.82
(29.98)
82.93
40.51

1,306.53
71.22
805.89
13.96
12.16
364.72
364.72
(12.46)
30.26
20.78

1,226.44
75.61
728.08
36.12
120.10
228.99
228.99
(8.04)
38.98
6.60

1,842.14
81.00
1,183.00
6.13
112.97
427.45
427.45
(1.80)
2.09
31.30

299.56
39.33
191.86
8.40
56.05

(28.32)

(44.88) (39.04) (57.67)

-32.64%

(362.64)

(387.13)

2.52

(2.35)

1.79

6.10 (43.94)
1.70 (10.00)

(46.38) (39.34) (21.28)

(43.75) (40.00) (72.31)

122.13 15.36%
343.40
na

0.88
2.92

16.42
(379.06)

7.90
(395.03)

(6.60)
9.12

2.87
(5.22)

1.79

14.22%
8143.78 22.01%
1804.86 8.84%

4.76
31.10

13,496.41
8,536.41
4,960.00

3,180.52
1,594.52
1,586.00

1,805.68
928.68
877.00

6,545.20
4,744.20
1,801.00

1,965.01
1,269.01
696.00

INFORMATION TECHNOLOGY

E-CHANNELLING
PC HOUSE

ECL N
PCH N

DiriSaviB M
MainB
M

TELECOMMUNICATIONS
DIALOG TELEKOM
SRI LANKA TELECOM

DIALN
SLTLN

MainB
MainB

D
D

8.60
41.00

(0.69)
(1.15)
(0.25)

(7.27)
(8.51)
(6.05)

12.35
11.16
19.19 (9.25)
5.77
15.29
18.13 (13.70)
19.97
22.52

(5.83)
(4.44)
(7.13)

19.06
40.98
3.59

Note:
Counters which are listed on Dirisavi board will reflect 6 months results under
3QCY2012.

29
A member of Asia Capital Group

Shares Trailing
Mn
ROE
7.06%
60.80 22.68%
2.94 4.16%
2.84
na
0.04
na
0.05
na
0.10
na
114.00 19.98%
260.00 16.59%

BVPS

53.89
49.30
57.43
137.96
649.80
64.98
1.72
2.18

Net Profit
4Qtrs
310.18
742.89
6.03
(123.39)
(1.28)
(446.79)
(0.55)
39.23
94.04

Mar'13
590.26
560.02
(3.72)
(21.05)
0.40
(0.19)
(0.57)
16.72
38.65

Dec'12
(406.82)
48.66
1.02
(13.30)
(1.90)
(446.70)
0.30
5.10

Net
Sep'12
85.64
78.67
3.84
(39.85)
(1.05)
1.20
0.12
8.50
34.21

Profits
Jun'12
26.82
55.55
4.40
(49.20)
1.27
0.68
0.13
13.99

5.05%
1.27 5.20% 738.70
2.54 8.16% 1284.06
2.28 28.76%
43.90
5.15
na 432.45

329.21
48.87
265.70
28.76
(14.12)

110.66
36.41
80.69
12.94
(19.38)

222.51
(4.23)
188.43
12.73
25.58

54.70
20.02
30.70
2.04
1.94

(58.55)
(3.33)
(34.00)
1.04
(22.26)

(7.68)
11.60

Trailing Trailing
EPS
PE
23.37
12.22
6.9
2.05
51.1
na
na
na
na
na
na
na
na
0.34
12.5
0.36
6.6

PBV Mkt Cap Mn

1.65
1.6
2.1
2.9
9.4
2.1
20.0
2.5
1.1

5,101.12
308.12
480.80
45.29
68.23
130.04
490.20
624.00

38.39
104.79
12.62
na

18.07
14.3
11.0
15.0
na

0.91
0.7
0.9
4.3
0.9

698.03
2,915.78
430.57
1,903.65

3.39
4.50
0.05
na
na
na
6.97
na
na

34.24
35.0
16.2
145.4
na
na
na
14.1
na
na

0.99
0.6
1.6
1.2
1.0
0.6
5.6
2.6
5.2
1.1

8,412.86
2,623.57
1,051.47
974.80
5,205.57
102.24
12,270.54
237.56
378.00

2.26
5.46
0.24
0.39
2.74
2.74
na
0.17
0.41

7.32
8.4
4.6
14.8
16.0
9.5
7.4
na
15.1
22.7

1.26
0.8
1.0
1.6
2.5
1.6
1.2
0.8
1.5
1.3

2,378.80
13,473.01
1,718.17
4,632.08
8,710.00
1,050.40
621.80
1,250.00
920.00

3.66418
937
0.13
45.4
na
na

1.20

7.0
0.6

745.00
583.78

10.67
8.2
14.9

1.52
1.8
1.3

70,036.49
73,999.26

1.05
2.75

Weekly Review by Asia Wealth Research

28 June 2013

Disclaimer
The report has been prepared by Asia Wealth Management Co (Private) Limited. The information and opinions contained herein has been compiled or 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 or correctness, reliability or suitability. 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. In no event will Asia Wealth Management Co (Private) Limited be liable for any loss or damage
including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising out of, or in connection with the use of this report and any reliance you
place on such information is therefore strictly at your own risk.
Asia Wealth Management Co (Private) Limited 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 material is disseminated to their customers. Not all customers will receive the material at the same time. Asia Wealth Management Co (Private) Limited, their respective
directors, officers, representatives, employees, related persons and/or Asia Wealth Management Co (Private) Limited, may have a long or short position in any of the securities or other
financial instruments mentioned or issuers 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. Asia Wealth Management Co (Private) Limited may make markets in
securities or other financial instruments described in this publication, in securities of issuers described herein or in securities underlying or related to such securities. Asia Wealth
Management Co (Private) Limited may have recently underwritten the securities of an issuer mentioned herein. The information contained in this report is for general information
purposes only. This report and its content is copyright of Asia Wealth Management Co (Private) Limited and all rights reserved. This report- in whole or in part- may not, except with the
express written permission of Asia Wealth Management Co (Private) Limited be reproduced or distributed or commercially exploited in any material form by any means whether graphic,
electronic, mechanical or any means. Nor may you transmit it or store it in any other website or other form of electronic retrieval system. Any unauthorised use of this report will result in
immediate proceedings.

30
A member of Asia Capital Group

Research
Manager - Research
Balakrishnan Nirmalan

Assistant Manager - Research

(94-11)5320362
nirmalan@asiacapital.lk

Corporates

Amali Perera

(94-11)5320256
amali@asiacapital.lk

Economy

Shan Silva
Yogini Yogarasa

(94-11)5320251
(94-11)5320361

Dhanusha Pathirana
Travis Gomez

(94-11)5320254
(94-11)5320254

Statistician
Nuwan Pradeep

(94-11)5320257

Sales
Institutional Sales
Sabri Marikar
Niroshan Wijayakoon
Manjula Kumarasinghe
Chelaka Hapugoda
Chaminda Mahanama
HiranBibile
Niroshan Rathnam
Jeevan Hettigoda
Faraj Fouz
Miflal Farook

(94-11) 5320224
(94-11) 5320208
(94-11) 5320211
(94-11)5320240
(94-11) 5320223
(94-11) 5320238
(94-11) 5320242
(94-11) 5320220
(94-11) 5320210
(94-11) 5320247

077 3-576868
0777-713645
0777 -874310
0777 -256740
0777 -556582
0777 -352032
0773 -717515
0773-691256
0773 -810159
0772-253730

sabri@asiacapital.lk
niroshan@asiacapital.lk
manjula@asiacapital.lk
chelaka@asiacapital.lk
mahanama@asiacapital.lk
hiran@asiacapital.lk
ratnam@asiacapital.lk
jeevan@asiacapital.lk
faraj@asiacapital.lk
miflal@asiacapital.lk

Retail Sales
Shiyam Subaulla
Priyantha Hingurage
Subeeth Perera
Neluka Rodrigo
Gagani Jayawardhana
Shamal Perera
Nuwan Eranga
Romesh Priyadarshana
Rukshan Liyanage
Nathasha Munasinghe
Iresha Fernando
Sharika Rathnayake

(94-11)5320218
(94-11)5320217
(94-11)5320227
(94-11)5320214
(94-11)5320236
(94-11)5320219
(94-11)5320246
(94-11)5320228
(94-11)5320235
(94-11)5320231
(94-11)5320232
(94-11)5320209

0773-502016
0773-502015
0714-042683
0777-366280
0714-084953
077-3717558
0777368012
0772548795
077-3413297
0777-569266
0777359012
0777567994

shiyam@asiacapital.lk
priyantha@asiacapital.lk
subeeth@asiacapital.lk
neluka@asiacapital.lk
gagani@asiacapital.lk
shamal@asaiacapital.lk
eranga@asiacapital.lk
priyadarshana@asiacapital.lk
rukshan@asiacapital.lk
nathasha@asiacapital.lk
iresha@asiacapital.lk
sharika@asiacapital.lk

Branches
CSE Floor

CSE,01-04, World Trade Centre, Colombo 1.

Thushara Adhikari
M G Suranjana

(011)-5735122
(011)-5763539

0773-688202
0773-954994

adhikari@asiacapital.lk

Kurunegala

Union Assurance Building, No.6,1stFloor,Rajapilla Rd, Kurunagala.

Asanka Samarakoon
Gayan Nishsanka

(037)-5628844
(037)-5642717

0773-690749
0777-105356

asanka@asiacapital.lk
nishshanka@asiacapital.lk

Matara

E.H.Cooray Building, Mezzanine Floor, No:24, AnagarikaDarmapala Mw,

Matara
Peoples Leasing Building,2nd Floor,No.118,Matara Road,Galle

(041)-5677525
(041)-5677526
(041)-5620727
(091)-5629998

0773-687307
0778-628798

Galle

Sumeda Jayawardena
Lalinda Liyanapathirana
Mahesha Madurangi
Ruchira Hasantha

0773-687027

sumeda@asiacapital.lk
rishan@asiacapital.lk
mahesha@asiacapital.lk
ruchira@asiacapital.lk

Negombo

Asia Asset Finance, 171/1, Station Road, Negombo.

Uthpala Karunatilake

(031)-5676881

0773-691685

uthpala@asiacapital.lk

Moratuwa

Asia Asset Finance, No.18, New De Zoysa Rd, Moratuwa.

Ashan Silva
Charith Perera

(011)-5238662
(011)-5238663

077-0458028

ashan@asiacapital.lk
charithn@asiacapital.lk

Panadura

Asian Alliance Building, 293, Galle Road, Panadura

Ranganath Wijetunga
Asanka Chaminda

(038)-5670400
(038)-5670407

0715-120723
0713-559552

ranganath@asiacapital.lk
chaminda@asiacapital.lk

Kandy

132 2/7, Hill City Complex,

D. S .Senanayake Street, Kandy.

Nilupul Hettiarachchi

(081)-5628500

0777410164

nilupul@asiacapital.lk

Radhika Hettiarachchi
Tharindu Priyankara
Ravi De Mel

(081)-5625577
(081)-5625577
(063)-5679071

0773692242
0777282586
0772-681995

radhika@asiacapital.lk
priyankara@asiacapital.lk
ravide@asiacapital.lk

Nalaka Dhanushka
DanushkaBoteju
KasunNavoda

(063)-5679070
(011)-5634803

0771-520376
0716-270527

nalaka@asiacapital.lk
boteju@asiacapital.lk

Ampara

Bandula Cinema Shopping complex, No-103,D S Senanayaka Street,

Ampara.

Kiribathgoda

Level 2-6,Udeshi City Shopping complex, No 94,Makola Rd,Kiribathgoda

Service Centers
Hambantota

Hambanthota Chamber of Commerce, ThangalleRoad,Hambantota.

SherminRanasinghe
SamithEdirisinghe

(047)-5679240

0777681866
0775-486869

shermin@asiacapital.lk
samith@asiacapital.lk

Jaffna

62/20, First Floor, Stanley Road, Jaffna

GratianNirmalan
S.Puviraj

(021)-5671800
(021)-5671801

0777-567933
0775-096969

nirmal@asiacapital.lk
puviraj@asiacapital.lk

ASIA WEALTH MANAGEMENT CO.(PVT) LTD

21-01 West Tower,
World Trade Centre, Echelon Square,
Colombo 01, Sri Lanka
Tel: +94 11 5320000
Website: www.asiacapital.lk