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  • 7/29/2019 WEEKLY 07 Asia Capital

    1/23

    Sri Lanka Focus 15th

    February 2013 ASIA RESEARCH TEAM 1

    Major Price Movements Large Trades

    IN THIS ISSUE;

    Investors cautious amidst mixed earningsThe week concluded on a mixed note with the All

    Share Price Index declining 20.41 points.......... Pg 02

    Colombo Bourse Billion Ruppee ClubTable below shows the members who have

    qualified to be a part of Asia Wealth Researchs Billion RupeeClub. Pg 03

    Analysis of Various Warrants Listed on CSEWeekly overview of commoditytrading Pg 04

    Commodity Prices Pg 05

    Monetary Sector Developments likely to assist

    Equity TradeSecondary market yields on government

    securities picked up as expected during the....... Pg 07

    Market Statistics15-Feb 08-Feb % Chg.

    All Share Index 5,830.26 5,850.67 -0.3

    S&P SL20 Index 3,274.25 3,271.25 0.1

    Banking & Finance 13,013.25 13,068.99 -0.4

    Food & Beverage 16,525.16 16,608.96 -0.5

    Diversified 1,890.38 1,892.00 -0.1Hotels & Travels 3,486.65 3,508.19 -0.6

    Telecommunication 173.30 172.39 0.5

    Manufacturing 2,669.76 2,715.68 -1.7

    Market Capitalisation (LKR bn) 2,239.80 2,247.59 -0.3

    (USD bn) 17.69 17.59 0.6

    Turnover (LKR mn) 3,074.10 5,103.50 -39.8

    (USD mn) 24.27 39.94 -39.2

    Average Daily Turnover (LKR mn) 614.80 1,275.90 -51.8

    Volume (mn shares) 154.90 186.80 -17.1

    Foreign Purchases (LKR mn) 1,092.44 3,033.26 -64.0

    Foreign Sales(LKR mn) 945.02 3,267.31 -71.1

    Company Price +/-LKR +/- %

    Hikkaduwa Beach Resort 17.1 -3.9 -18.6

    Singalanka Standard Chemicals 78.0 -16.7 -17.6

    Ceylon Printers 1,280.0 -270.0 -17.4

    Abans Financial Services 31.0 -5.9 -16.0

    Bairaha Farms 125.0 -22.0 -15.0

    Peoples Leasing Company 14.0 1.0 7.7

    Kuruwita Textiles 22.0 1.8 8.9

    Horana Plantations 27.4 2.3 9.2

    Commercial Leasing & Finance 4.2 0.4 10.5

    Coco Lanka (NV) 20.0 4.0 25.0

    ASI Daily Closing

    Weekly Review by Asia Wealth Management Research

    Colombo StockExchange

    FocusVolume07

    15thFebruary2013

    Company Volume

    Browns Investments 38,286,721

    Textured Jersey Lanka 20,402,169

    Dialog Axiata 11,866,625

    Free Lanka Capital Holdings 11,502,993

    Union Bank 5,349,620

    Swarnamahal Finance 4,009,842

    Richard Pieris 3,907,987

    Hnb 3,612,233

    Commercial Leasing & Finance 3,572,919

    E-Channeling 2,293,637

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    Sri Lanka Focus 15th

    February 2013 ASIA RESEARCH TEAM 2

    Features

    Investors cautious amidst mixed earnings

    The week concluded on a mixed note with the All Share Price Index declining 20.41 points to close at 5,830.26 points (-

    0.3% WoW) while the S&P SL20 index rose marginally by 3 points to close at 3,274.25 points (0.1% WoW). The ASI

    declined mainly on the back of the losses made by Lanka ORIX Leasing Company (-8.1% WoW), Ceylon Tobacco (-1.3%WoW), Commercial Bank of Ceylon (-1.9% WoW), Sri Lanka Telecom (-2.1% WoW) and Ceylinco Insurance (-4.7% WoW).

    A comparatively slower week of trading was witnessed at the Colombo Bourse as indicated by the comparatively lower

    average daily volumes and turnover recorded during the week. This could be partly as a response to institutional investors

    adopting a wait-and-see approach as firms released their quarterly earnings performance prior to the deadline on

    Friday for the release of quarterly results. However activities on Friday also continued to be relatively muted as both small

    and large cap firms recorded mixed earnings performance. Nevertheless, banking & finance counters continued to garner

    institutional interest with crossings being witnessed on Hatton National Bank, Union Bank, Central Finance & Sampath

    Bank. Retail activity for the week was also limited as investors stayed on the sideline reassessing their expectations of the

    markets performance in light of the earnings performance of firms. The bourse recorded an average daily turnover of

    LKR 614.8mn for the week whilst the average weekly traded volume stood at 40mn.

    Furthermore, Browns Investments, Textured Jersey Lanka, Dialog Axiata, Free Lanka Capital Holdings and Union Bank

    topped the list in terms of volume traded during the week.

    The week saw foreign purchases amounting to LKR 1,092.2 mn whilst foreign sales amounted to LKR 945 mn.Market

    capitalisation stood at LKR 2,239.8 bn, and the YTD performance is 3.3%.

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    Sri Lanka Focus 15th

    February 2013 ASIA RESEARCH TEAM 3

    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.

    Colombo Bourses Billion Rupee Club

    Company Shares Trailing ROE BVPS Net Profit Trailing EPS Trailing PE PBV Mkt Cap Mn

    JOHN KEELLS HOLDINGS 852.52 14.56% 87.82 10,900.49 12.79 18.0 2.6 196,079.61

    COMMERCIAL BANK [V] 780.13 18.78% 61.40 9,611.80 11.53 9.5 12.7 85,190.72

    COMMERCIAL BANK [NV] 53.47 18.78% 61.40 9,611.80 11.53 8.0 1.5 4,919.58

    CEYLON TOBACCO 187.32 179.64% 24.20 8,145.00 43.48 19.0 34.2 155,104.07

    HNB [V] 317.79 16.25% 111.06 7,171.46 18.04 8.2 1.3 46,810.83

    HNB [NV] 79.66 16.25% 111.06 7,171.46 18.04 6.4 1.0 9,208.47

    DIALOG TELEKOM 8,143.78 19.03% 4.45 6,900.50 0.85 11.2 2.1 77,365.89

    DISTILLERIES 300.00 15.46% 133.86 6,209.77 20.70 8.9 1.4 55,500.00

    SAMPATH BANK 162.74 19.83% 148.23 4,784.49 29.40 8.2 1.6 39,382.27

    SRI LANKA TELECOM 1,804.86 7.55% 30.45 4,148.00 2.30 18.7 1.4 77,608.98

    AITKEN SPENCE 406.00 15.23% 63.82 3,947.22 9.72 12.9 2.0 50,749.51

    LOLC 475.20 19.06% 43.37 3,928.29 8.27 7.5 1.4 29,462.40

    PEOPLES LEASING 1,560.00 18.31% 12.26 3,502.00 2.24 6.2 1.1 21,840.00DFCC BANK 265.10 12.27% 98.48 3,203.82 12.09 10.4 1.3 33,402.31

    NDB 164.20 16.44% 112.61 3,039.55 18.51 8.2 1.3 24,958.69

    CENTRAL FINANCE 104.88 20.15% 140.53 2,970.20 28.32 6.5 1.3 19,403.42

    BUKIT DARAH 102.00 10.00% 285.72 2,913.11 28.56 25.6 2.6 74,460.00

    OVERSEAS REALTY 843.48 13.50% 23.48 2,674.92 3.17 4.4 0.6 11,893.13

    NESTLE LANKA 53.73 93.78% 52.59 2,649.72 49.32 32.9 30.9 87,303.88

    UNITED MOTORS 67.27 39.71% 97.37 2,600.77 38.66 2.5 1.0 6,578.72

    ASIAN HOTEL & PROPERTIES 442.78 16.86% 33.03 2,464.92 5.57 12.9 2.2 31,879.82

    CARSON CUMBERBATCH 196.39 7.46% 164.94 2,418.12 12.31 37.2 2.8 89,945.21

    CEYLON COLD STORES 95.04 32.18% 77.17 2,359.74 24.83 5.6 1.8 13,115.52

    SEYLAN BANK [V] 173.33 11.84% 56.91 2,278.10 6.74 8.9 1.1 10,382.67

    SEYLAN BANK [NV] 164.75 11.84% 56.91 2,278.10 6.74 5.1 0.6 5,683.76

    CHEVRON LUBRICANTS 120.00 54.83% 34.62 2,277.70 18.98 11.5 6.3 26,100.00

    COLOMBO DOCKYARD 71.86 21.91% 140.53 2,212.59 30.79 7.4 1.6 16,311.98

    CEYLON TEA SERVICES 20.00 29.44% 372.76 2,194.96 109.75 5.9 1.7 13,000.00

    RICHARD PIERIS 1,939.24 30.85% 3.52 2,107.10 1.09 6.8 2.1 14,350.36

    LANKA IOC 532.53 17.74% 21.58 2,039.19 3.83 5.5 1.0 11,183.13

    VALLIBEL ONE LIMITED 1,086.56 6.07% 28.07 1,850.83 1.70 10.0 0.6 18,471.51

    NATIONS TRUST BANK 230.61 19.02% 41.57 1,823.67 7.91 7.6 1.4 13,836.44

    LB FINANCE 69.26 39.52% 65.30 1,787.02 25.80 5.6 2.2 9,973.03

    ROYAL CERAMICS 110.79 22.71% 69.64 1,752.25 15.82 6.3 1.4 11,078.94

    DIMO 8.88 20.94% 863.75 1,605.52 180.87 3.3 0.7 5,282.37

    AIT. SPENCE HOTEL HOLD. 336.29 14.14% 33.73 1,604.23 4.77 16.0 2.3 25,658.93

    HEMAS HOLDINGS 515.29 13.20% 21.24 1,444.73 2.80 9.9 1.3 14,325.08

    CEYLINCO INSURANCE [V] 20.00 12.62% 425.89 1,419.35 70.97 13.4 2.2 19,060.00

    CEYLINCO INSURANCE [NV] 6.41 12.62% 425.89 1,419.35 221.27 1.4 0.8 2,052.63

    PCH HOLDINGS LIMITED 252.00 88.39% 6.26 1,395.17 5.54 1.3 1.1 1,764.00

    SINGER SRI LANKA 125.21 26.38% 38.56 1,273.69 10.17 9.8 2.6 12,533.48

    LION BREWERY 80.00 22.90% 68.66 1,257.97 15.72 20.4 4.7 25,600.00

    LANKA ORIX FINANCE 2,800.00 22.09% 1.89 1,171.41 0.42 8.4 1.8 9,800.00

    JOHN KEELLS HOTELS 1,456.15 8.42% 9.31 1,140.90 0.78 17.5 1.5 19,949.21

    HAYLEYS 75.00 5.65% 250.97 1,063.14 14.18 21.7 1.2 23,100.00

    EXPOLANKA HOLDINGS 1,954.92 12.14% 4.48 1,062.91 0.54 13.1 1.6 13,879.90

    CEYLON THEATRES 183.10 8.41% 68.89 1,060.36 5.79 24.2 2.0 25,633.62

    COLOMBO FORT LAND 180.00 18.20% 32.11 1,051.63 5.84 5.3 1.0 5,598.00

    COLONIAL MOTORS 10.64 39.30% 249.16 1,041.82 97.92 1.4 0.6 1,494.92

  • 7/29/2019 WEEKLY 07 Asia Capital

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    Sri Lanka Focus 15th

    February 2013 ASIA RESEARCH TEAM 4

    Analysis of Various 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 furtherappreciate. Thus, the negative value would denote that the warrant is overvalued at the current price (assuming the

    underlying stock 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.

    Exercise

    price

    Share Price

    (2013/02/15)Expiry Date

    Warrant Price

    (2013/02/15)

    Price According to Black

    Scholes model (Intrinsic

    value)

    Undervalued/

    (Overvalued)

    CLPL-W-0013 118.00 72.60 25-Aug-14 5.10 0.00 (5.10)

    CLPL-W-0014 142.00 72.60 25-Aug-15 5.30 0.00 (5.30)

    GREG-W-0003 36.00 17.40 24-Feb-14 2.70 0.00 (2.70)

    GREG-W-0006 39.00 17.40 24-Feb-15 3.50 0.00 (3.50)

    CSF-W-0021 12.00 9.80 31-Jul-13 1.80 0.00 (1.80)

    REEF-W-0019 40.00 23.00 15-Jun-15 3.50 0.00 (3.50)

    Warrants Valuation

    Features

  • 7/29/2019 WEEKLY 07 Asia Capital

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    Sri Lanka Focus 15th

    February 2013 ASIA RESEARCH TEAM 5

    OIL

    Brent crude oil prices picked up slightly during the week mainly on the back of improved employment situation of the

    worlds largest economy. U.S claims for unemployment insurance fell to 341,000 from 368,000 a week earlier. The

    price of Brent crude edged up 0.6% WoW to USD 117.9/barrel on the back of these developments.

    Gold

    Gold prices dropped responding to the signs of slow recovery of the U.S economy indicated by improving jobless

    claims. However, the negativity encompassing EU and Japanese economies prevented gold prices from falling further.

    On account of these changes, price of gold dropped 2.3% WoW to USD 1,635.5/ounce at the New York Mercantile

    Exchange.

    Commodity Prices

    Source: Bloomberg, AFP, Reuters, Eurostat

    Date as at 24.01.13 01.02.13 08.02.13 15.02.13 WoW %

    change

    Brent Crude Oil (USD/Barrel) 112.8 115.6 117.2 117.9 0.6%

    METALS

    Gold (USD/Ounce) 1,682.2 1,660.6 1,673.2 1,635.5 -2.3%

    Copper LME (USD/Ton) 8,115.5 8,169.0 8,243.3 8,215.0 -0.3%

    AGRI

    Date as at 24.01.13 31.01.13 06.02.13 13.02.13 WoW %

    change

    Tea LKR/Kg 431.77 436.98 417.86 428.75 2.6%

    Date as at 24.01.13 31.01.13 06.02.13 14.02.13 WoW %

    change

    Rubber (RSS 1) LKR /Kg N/A 380.0 388.5 385.0 -0.9%

    Exchange Rates (LKR) 24.01.13 01.02.13 08.02.13 15.02.13 WoW %

    change

    USD 127.05 126.35 126.32 126.62 0.2%

    EURO 169.06 171.61 169.32 169.07 -0.2%

    STG (GBP) 201.20 199.93 198.56 196.50 -1.0%

    YEN 1.44 1.38 1.35 1.37 1.5%

    YUAN (CNY) 20.43 20.26 20.24 20.32 0.4%

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    Sri Lanka Focus 15th

    February 2013 ASIA RESEARCH TEAM 6

    Copper

    Copper prices fell marginally over the week on the back of lower than expected growth in U.S retail sales coupled

    with the waning economic prospects of EU and Japan. However, downward pressure on prices was held back by the

    strong demand coming from the top consumer China. LME Copper futures for April delivery fell 0.3% WoW in line

    with these developments.

    USD

    The Greenback gained against other major currencies on the back of improved figures on U.S jobless claims during

    the week. The weak economic outlook of Euro Zone coupled with the not so successful attempts by the Japanese

    authorities to revive the ailing economic situation further assisted the strengthening of the USD.

    Source: Bloomberg, AFP, Reuters, Eurostat

    Commodity Prices

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    Sri Lanka Focus 15th

    February 2013 ASIA RESEARCH TEAM 7

    Monetary Sector Developments likely to assist Equity Trade

    Secondary market yields on government securities picked up as expected during the week while the primary bill

    issue saw yields continuing to decline amidst the high liquidity level in the financial system. Its our belief that the

    sudden rise in liquidity levels during the past four weeks is primarily triggered by divestments in the secondarymarket for government securities probably by banks to finance private sector borrowing now that the ceiling on

    private sector credit growth is removed. The increase in liquidity levels was further assisted by profit taking by

    foreign investors in the secondary market which caused the yields to increase.

    Capital accrued to these divestments from the secondary market finds its way into the domestic financial system,

    increasing its liquidity level. This in our view is the primary source of current excess liquidity levels. It should be

    also brought to notice that despite this sudden increase in liquidity the LKR held its ground against internationally

    traded currencies during the period in concern. It indicates that selling pressure in the secondary market for

    government securities has not resulted in a consequent out flow of capital and further, that foreign investors are

    holding onto the domestic currency despite profit taking activity in the secondary market. These developments in

    countrys financial sphere also suggest that market forces are expecting monetary authorities to cut rates further at

    future primary auctions. In its turn these developments could yield positive spillover effects on countrys equity

    trade by improving relative valuation of domestic financial assets.

    On the other hand, despite a large volume of liquidity was mopped by monetary authorities through the repo

    window during the past four weeks, the stock of government securities held at the hands of the Central Bank

    continued to rise marginally during the period in concern. For instance, approximately LKR 810 billion was absorbed

    by monetary authorities through open market operations during the past four weeks while CBSL holdings of

    government securities continued to rise during the course of the period by nearly LKR 40 billion. When monetary

    authority absorbs market liquidity the stock of government securities held by CB should fall correspondingly. The

    fact that its reverse has occurred suggests that the volume of liquidity that was absorbed from financial markets

    was transferred into financing fiscal measures through CBs open market operations. This higher level of

    government borrowings from monetary authorities reflects that government finance is challenged by current stateof economic affairs.

    Its notable in this connection that profits of Sri Lankas leading conglomerates have reaped mixed results during

    the December quarter against the prevailing tight external and domestic economic environment. This in turn may

    affect the government revenue streams, which is reflected by state revenue as a share of GDP in 2012 falling to

    11% from levels above 14% recorded previous year. This would mean that fiscal authorities are likely to resort to

    higher taxes, tariffs as well as increased borrowings from domestic as well as external sources to offset the effects

    of moderate flow of tax revenue and to maintain the level of expenditure in real terms.

    Conclusion

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    Sri Lanka Focus 15th

    February 2013 ASIA RESEARCH TEAM 8

    Charts Sourced from Asia Wealth Research

    Tokyo Cement Manufacturing

    NLKR25.00 XLKR 18.50

    John Keells Holdings Diversified

    N

    LKR 230.00

    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.

    The sustained performance of the group during 9MFY13 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.

    Key Buys

    Focus on Investment

    Peopless Leasing Company Banking & Finance

    NLKR 14.00

    Largest specialized leasing company in Sri Lanka, a subsidiary of Peoples Bank-

    the 2nd largest commercial bank of the country, a holding of 75%.Principal

    business activity of the PLC is the provision of finance leasing, operating leasing,

    HP facilities etc... The declining interest rates in the economy and rising demand

    for credit is to provide many opportunities for these business models. 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 the declining 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.

    Sampath Bank Banking& Finance

    NLKR 242.00

    Bank will continue its aggressive expansion to ensure its spread of service

    through the island. As the pioneer in blending IT with banking, the company will

    revamp its existing products and innovate new customer focus products. And

    the company is well poised to take advantage in the prevailing economic boom

    in the country. The interest rates in the economy are showing a declining trend

    consequent to the cut down in policy rates from 2013. The credit ceiling that

    existed during 2012 has limited the growth of LCBs, including Sampath bank.

    However, the removal of the ceiling from 2013, and the diminishing interest

    rates coupled with SAMPs strong capital adequacies, would enable the bank

    enter another growth phase in its performance. Therefore considering these

    factors we rate SAMP as a mid to longer term investment.

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    Sri Lanka Focus 15th

    February 2013 ASIA RESEARCH TEAM 9

    Focus on Investment

    CIC Holdings Chemicals & Pharmaceuticals

    NLKR 62.60 XLKR 49.90

    Commercial Bank Banking & Finance

    NLKR 109.20 XLKR 92.00

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

    Lanka.The Company also has foot prints in consumer and pharmecuiticalindustries, 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.

    Commercial Bank is the largest private sector commercial bank with an asset

    base of LKR498.1 bn as at end Sept 2012, and operates with above 400 ATM

    points, which is also the largest single network in the country. Towards the

    future, bank is well positioned with capital, consequent to the recently concluded

    Rights issue of circa LKR5 bn enabling the bank to extend its credit further. With

    the declining interest rates in the economy consequent to the cut in 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 COMB as a mid to longer term

    investment.

    Hatton National Bank Banking & Finance

    N-LKR 147.30 X- LKR 115.60

    LB Finance Banking & Finance

    NLKR 144.00

    HNB is the second largest private commercial bank with a total asset base of

    LKR388.6 bn as at end 2011, and number one private bank in terms of branches

    with a strong network of over 240. Bank is well positioned with its capital

    consequent to fresh capital raised through a rights issue amounting to LKR 6 bn.

    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 declining 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.

    LB Finance is a leading registered finance company engaged in Leasing and

    Hire Purchase business. Company is operating with a total asset base of LKR 48

    bn as at end Sept FY2013, and an island wide branch net work of 26. With

    satisfactory liquidity levels and capital adequacies, company is poised to take

    advantage in any growth in credit demand.The declining 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.

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    CIC

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    CICX

    0

    20

    40

    60

    80

    100

    120

    140

    2 / 16 / 20 1 2 4 / 2/ 2 01 2 5 / 21 / 20 1 2 7 / 4/ 2 01 2 8 / 16 / 20 1 2 9 / 28 / 20 1 2 1 1 / 1 2/ 2 01 2 1 2/ 2 8/ 2 01 2 2 / 14 / 20 1 3

    LKR

    COMB

    0

    20

    40

    60

    80

    100

    120

    2 / 1 6/ 2 0 12 4 / 2/ 2 01 2 5 / 21 / 20 1 2 7 / 4 /2 0 12 8 / 16 / 20 1 2 9 / 2 8/ 2 0 12 1 1 /1 2 / 20 1 2 12 / 28 / 2 01 2 2 / 14 / 2 01 3

    LKR

    COMBX

    0

    20

    40

    60

    80

    100120

    140

    160

    180

    2 / 16 / 20 1 2 4 / 2/ 2 01 2 5 / 21 / 20 1 2 7 / 4/ 2 01 2 8 / 16 / 20 1 2 9 / 28 / 20 1 2 1 1 / 1 2/ 2 01 2 1 2/ 2 8/ 2 01 2 2 / 14 / 20 1 3

    LKR

    HNB

    0

    20

    40

    60

    80

    100

    120

    140

    2 / 16 / 20 1 2 4 / 2/ 2 01 2 5 / 21 / 20 1 2 7 / 4/ 2 01 2 8 / 16 / 20 1 2 9 / 28 / 20 1 2 1 1 / 1 2/ 2 01 2 1 2/ 2 8/ 2 01 2 2 / 14 / 20 1 3

    LKR

    HNBX

    0

    20

    40

    60

    80

    100

    120

    140

    160

    180

    2/16/2012 4/2/2012 5/21/2012 7/4/2012 8/16/2012 9/28/2012 11/12/2012 12/28/2012 2/14/2013

    LKR

    LFIN

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    February 2013 ASIA RESEARCH TEAM 10

    Piramal Glass Manufacturing

    NLKR 6.20

    The company is the sole glass manufacture in Sri Lanka who supplies

    glasscontainers to thefood and beverages, cosmetics, perfumery and thepharmaceutical 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.

    Focus on Investment

    0

    1

    2

    3

    4

    5

    6

    7

    2 /1 6/ 201 2 4 /2/ 201 2 5/ 21/ 201 2 7 /4/ 20 12 8/ 16/ 20 12 9 /2 8/ 20 12 11 /12 /20 12 1 2/ 28 /20 12 2 /14 /2 013

    LKR

    GLAS

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    As at 15th February 2013

    Rights issues

    Company Proportion / Issue Price XR date Last Date Of

    Acceptance &

    Payment

    Trading of rights

    Commences on

    Pelwatte Sugar 01 for 04 @ LKR18.00

    Kotagala Plantations 01 for 04 @ LKR 45.00 06-03-2013 27-03-2013 18-03-2013

    Chilaw Finance 01 for 07 @ LKR 10.00 To be notified

    SUB- DIVISION OF SHARES

    Company Description Sub-Division

    based on

    shareholding as

    at

    Period of dealing

    suspension

    Date of

    commencement

    of trading

    Colonial Motors

    (Subsequent to Right Issue)

    07 shares to be sub-

    divided into 10

    shares

    12-02-2013 13-02-2013 to 15-02-2013 18-02-2013

    Company Description Entitlement date for the

    repurchase

    NBD Capital Holdings Plc 01 for 04 ordinary shares held @

    LKR 545.00

    01-03-2013(End of Trading)

    CAPITALISATION OF RESERVES

    Company Description XC Date

    Commercial Credit and Finance Plc 01 for 10.9037 ordinary shares held To be notified

    REPURCHASE OF SHARES

    Stock Exchange Anouncements

    * Rights issue would be delayed until the outcome of the

    proposed Act with regard to acquisition of its land by the

    State is known.

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    Dividends announcements

    Company Dividend per share XD Date Payment Date

    Royal Ceramics Lanka Interim Dividends of LKR 2.00 13-02-2013 22-02-2013

    Richard Pieris & Co Interim Dividends of LKR 0.20 06-02-2013 15-02-2013

    Commercial Bank of Ceylon Second Interim Dividends ( Voting & Nonvoting) of LKR 1.00 07-02-2013 18-02-2013

    Vallibel Power Erathna Interim Dividends of LKR 0.25 08-02-2013 19-02-2013

    Watawala Plantations Interim Dividends of LKR 0.50 11-02-2013 20-02-2013

    HaycarbPlc Interim Dividends of LKR 4.00 12-02-2013 20-02-2013

    Peoples Finance Plc Interim Dividends of LKR 2.25 12-02-2013 21-02-2013

    Pan Asia Banking Corporation Interim Dividends of LKR 1.00 12-02-2013 21-02-2013

    Cargills Interim Dividends of LKR 0.70 12-02-2013 21-02-2013

    Dipped Products Interim Dividends of LKR 4.00 15-02-2013 26-02-2013

    HNB Assurance Final Dividends of LKR 2.75 28-03-2013 08-04-2013Ceylon Tobacco Company Final Dividends of LKR 6.50 01-04-2013 09-04-2013

    Amaya Leisure Interim Dividends of LKR 4.00 19-02-2013 28-02-2013

    C.T. Land Development Interim Dividends of LKR 0.80 19-02-2013 26-02-2013

    Textured Jersey Lanka First Interim Dividends of LKR 0.66 18-02-2013 28-02-2013

    Access Engineering Interim Dividends of LKR 0.25 18-02-2013 28-02-2013

    National Development Bank Interim Dividends of LKR 5.00 26-02-2013 06-03-2013

    Aviva NDB Insurance First & Final Dividends of LKR 2.50 28-03-2013 08-04-2013

    C.T Holdings Interim Dividends of LKR 0.65 26-02-2013 07-03-2013

    Sampath Bank First & Final Dividends of LKR 6.00 01-04-2013 09-04-2013

    Stock Exchange Anouncements

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    February 2013 ASIA RESEARCH TEAM 13

    Company YE SH(mn) M.CAP(Bn) Price Earnings (LKR mn) EPS PE

    DPS DY ROE BVPS PBVFY10 FY11 FY12 FY13E FY14E FY10 FY11 FY12 FY13E FY14E FY10 FY11 FY12 FY13E FY14E

    FINANCIAL SERVICES

    HNB Dec 317.79 46.8 147.30 4,786.8 6,148.8 8,265.4 10,003.5 11,625.6 12.0 15.5 20.8 25.2 29.3 12.2 9.5 7.1 5.9 5.0 7.50 5.1% 15% 101.6 1.5

    HNB(NV) Dec 79.66 9.2 115.60 4,786.8 6,148.8 8,265.4 10,003.5 11,625.6 12.0 15.5 20.8 25.2 29.3 9.6 7.5 5.6 4.6 4.0 7.50 6.5% 15% 101.6 1.1

    Commercial Bank Dec 53.47 4.9 92.00 5,508.0 8,094.7 9,689.9 10,791.3 12,960.3 6.6 9.7 11.6 12.9 15.5 13.9 9.5 7.9 7.1 5.9 6.00 6.5% 18% 53.5 1.7

    Commercial Bank(NV) Dec 780.13 85.2 109.20 5,508.0 8,094.7 9,689.9 10,791.3 12,960.3 6.6 9.7 11.6 12.9 15.5 16.5 11.2 9.4 8.4 7.0 6.00 5.5% 18% 53.5 2.0

    Sampath Bank Dec 162.74 39.4 242.00 3,484.5 4,150.6 5,422.9 6,818.3 8,146.1 21.4 25.5 33.3 41.9 50.1 11.3 9.5 7.3 5.8 4.8 7.91 3.3% 20% 128.0 1.9

    NDB Bank Dec 164.20 25.0 152.00 2,102.6 2,705.5 3,184.6 3,997.5 4,973.1 12.8 16.5 19.4 24.3 30.3 11.9 9.2 7.8 6.2 5.0 3.50 2.3% 16% 104.1 1.5

    CONGLOMERATES

    John Keells Hold. Mar 852.52 196.1 230.00 5,201.5 8,245.6 9,775.0 10,975.6 12,425.0 6.1 9.7 11.5 12.9 14.6 37.7 23.8 20.1 17.9 15.8 3.00 1.3% 14% 83.5 2.8

    Aitken Spence Hold. Mar 406.00 50.7 125.00 2,059.6 2,536.0 3,709.2 3,788.5 5,089.4 5.1 6.2 9.1 9.3 12.5 24.6 20.0 13.7 13.4 10.0 0.63 0.5% 15% 61.4 2.0

    FOOD & BEVERAGE

    Distilleries Mar 300.00 55.5 185.00 2,135.7 8,124.0 5,675.4 6,456.3 8,918.3 7.1 27.1 18.9 21.5 29.7 26.0 6.8 9.8 8.6 6.2 3.00 1.6% 15% 122.2 1.5

    Ceylon Tobacco Dec 187.32 155.1 828.00 5,097.1 6,568.8 8,518.4 9,411.9 9,641.1 27.2 35.1 45.5 50.2 51.5 30.4 23.6 18.2 16.5 16.1 43.31 5.2% 184% 19.0 43.5

    TOURISM

    Asian Hotels & Properties Mar 442.78 31.9 72.00 629.8 1,774.5 2,150.6 2,458.9 2,764.1 1.4 4.0 4.9 5.6 6.2 52.7 18.7 14.8 13.0 11.5 2.00 2.8% 14% 33.8 2.1

    Aitken Spence Hotel Mar 336.29 25.7 76.30 523.8 1,034.1 1,395.3 1,795.0 2,415.8 1.6 3.1 4.1 5.3 7.2 49.0 24.8 18.4 14.3 10.6 0.00 0.0% 13% 33.1 2.3

    MANUFACTURING

    Chevron Lubricants Dec 120.00 26.1 217.50 1,501.3 2,000.6 2,286.6 2,175.3 2,150.3 12.5 16.7 19.1 18.1 17.9 17.4 13.0 11.4 12.0 12.1 9.00 4.1% 63% 26.3 8.3

    Tokyo (V) Mar 202.50 5.1 25.00 369.3 855.7 973.2 1,456.0 1,505.0 1.2 2.8 3.2 4.8 5.0 20.6 8.9 7.8 5.2 5.0 1.00 4.0% 15% 20.7 1.2

    Tokyo (NV) Mar 101.25 1.9 18.50 369.3 855.7 973.2 1,456.0 1,505.0 1.2 2.8 3.2 4.8 5.0 15.2 6.6 5.8 3.9 3.7 1.00 5.4% 15% 20.7 0.9

    Piramal Glass Mar 950.09 5.9 6.20 (61.1) 578.7 686.4 891.2 948.2 (0.1) 0.6 0.7 0.9 1.0 N/A 10.2 8.6 6.6 6.2 0.36 5.8% 21% 3.4 1.8

    Chemical &

    Pharmaceutical

    CIC Holdings (V) Mar 72.90 4,563.5 62.60 589.6 926.6 916.5 820.0 1,405.2 6.2 9.8 9.7 8.7 14.8 10.1 6.4 6.5 7.2 4.2 3.20 5.1% 12% 77.5 0.8

    CIC Holdings (NV) Mar 21.87 1,091.3 49.90 589.6 926.6 916.5 820.0 1,405.2 6.2 9.8 9.7 8.7 14.8 8.0 5.1 5.2 5.8 3.4 3.20 6.4% 12% 77.5 0.6

    94.77 .

    PLANTATIONS

    Kegalle Plantations Mar 25.00 2.7 108.60 376.1 837.7 681.5 823.7 892.1 15.0 33.5 27.3 32.9 35.7 7.2 3.2 4.0 3.3 3.0 7.50 6.9% 24% 115.6 0.9

    Namunukula Plantations Mar 23.75 1.8 77.00 146.7 409.3 374.6 404.7 454.4 6.2 17.2 15.8 17.0 19.1 12.5 4.5 4.9 4.5 4.0 4.50 5.8% 24% 65.8 1.2Kotagala Plantations Mar 32.00 1.8 56.00 323.2 667.8 438.6 569.3 620.9 10.1 20.9 13.7 17.8 19.4 5.5 2.7 4.1 3.1 2.9 2.00 3.6% 18% 77.2 0.7

    POWER & ENERGY

    Laugfs Gas (Voting) Mar 335.00 8.7 26.00 243.1 852.7 930.3 968.0 1,185.1 0.6 2.2 2.4 2.5 3.1 41.4 11.8 10.8 10.4 8.5 1.50 5.8% 15% 19.1 1.4

    Laugfs Gas (Non voting) Mar 52.00 1.0 18.90 243.1 852.7 930.3 968.0 1,185.1 0.6 2.2 2.4 2.5 3.1 30.1 8.6 7.9 7.6 6.2 1.50 7.9% 15% 17.5 1.1

    Valuation Guide

    *Companies with their financial year ending in December would carry forecasted figure for FY12.

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    Broad Market

    Company Year

    End

    Price

    (LKR)

    Price Performance Shares

    Mn

    Trailing

    ROE

    BVPS Net Profits

    4 Qtrs trailing

    Net Profits (mn) Trailing

    EPS

    Trailing

    PE

    PBV Market Cap

    (mn)1W(%) 1M(%) 1Q(%) Sep'12 Jun12 Mar12 Dec11

    MARKET (0.36) 1.39 4.89 13.22% 177,576.82 48,333.83 32,067.82 54,205.62 43,081.79 12.61 1.67 2,239,774.10

    FINANCIAL SERVICES 0.25 2.31 6.09 13.51% 54,170.53 13,682.61 11,388.57 15,014.04 14,230.58 10.31 1.39

    Banking 33,196.64 7,943.94 8,152.55 8,578.58 8,521.56

    COMMERCIAL BANK [V] COMBN MainB D 109.20 0.55 3.81 3.81 780.13 18.78% 61.40 9,611.80 2,303.20 2,469.90 2,849.70 1,989.00 11.53 9.5 1.8 85,190.72

    COMMERCIAL BANK [NV] COMBX MainB D 92.00 (0.43) (0.86) (0.32) 53.47 18.78% 61.40 9,611.80 2,303.20 2,469.90 2,849.70 1,989.00 11.53 8.0 1.5 4,919.58

    DFCC BANK DFCCN MainB M 126.00 0.72 5.80 12.91 265.10 12.27% 98.48 3,203.82 819.13 682.38 765.47 936.83 12.09 10.4 1.3 33,402.31

    HNB [V] HNB N MainB D 147.30 0.40 1.64 2.69 317.79 16.25% 111.06 7,171.46 1,676.38 1,707.60 1,533.32 2,254.16 18.04 8.2 1.3 46,810.83

    HNB [NV] HNB X MainB D 115.60 0.09 2.66 1.14 79.66 16.25% 111.06 7,171.46 1,676.38 1,707.60 1,533.32 2,254.16 18.04 6.4 1.0 9,208.47

    NATIONS TRUST BANK NTB N MainB D 60.00 (0.33) 2.22 5.09 230.61 19.02% 41.57 1,823.67 566.53 487.50 405.70 363.94 7.91 7.6 1.4 13,836.44

    NDB NDB N MainB D 152.00 2.15 7.26 10.29 164.20 16.44% 112.61 3,039.55 678.77 641.28 720.87 998.63 18.51 8.2 1.3 24,958.69

    PAN ASIA BANK PABCN MainB D 18.20 (3.70) (1.62) (5.21) 295.04 19.69% 13.10 760.76 195.40 159.63 196.55 209.19 2.58 7.1 1.4 5,369.75

    SAMPATH BANK SAMPN MainB D 242.00 0.04 17.12 23.70 162.74 19.83% 148.23 4,784.49 1,044.53 1,359.21 1,494.20 886.54 29.40 8.2 1.6 39,382.27

    SEYLAN BANK [V] SEYBN MainB D 59.90 (1.80) 4.36 1.53 173.33 11.84% 56.91 2,278.10 589.19 612.27 412.49 664.15 6.74 8.9 1.1 10,382.67SEYLAN BANK [NV] SEYBX MainB D 34.50 0.29 1.17 (0.86) 164.75 11.84% 56.91 2,278.10 589.19 612.27 412.49 664.15 6.74 5.1 0.6 5,683.76

    HDFC HDFCN MainB D 47.50 (2.86) (1.45) (13.45) 64.71 10.33% 36.25 242.35 0.01 5.36 125.36 111.62 3.75 12.7 1.3 3,073.75

    UNION BANK UBC N MainB D 15.90 1.28 17.04 9.72 349.25 5.29% 15.20 280.65 70.79 27.42 74.92 107.52 0.80 19.8 1.0 5,553.08

    Finance Co.s & / Merchant Banks 17% 16,699.64 5,132.62 2,525.91 5,878.58 3,307.81

    ASIA CAPITAL ACAPN MainB M 28.00 (2.10) (7.59) (8.50) 110.00 na 6.92 (553.02) (145.25) (139.98) (72.52) (195.27) na na 4.0 3,080.00

    ALLIANCE FINANCE ALLIN MainB M 750.00 1.95 1.95 0.68 2.43 31.87% 633.06 490.34 144.21 110.77 117.71 117.65 201.78 3.7 1.2 1,822.50

    ARPICO FINANCE ARPIN MainB M 84.00 2.31 (2.21) 1.45 4.46 13.11% 88.53 51.78 10.38 18.18 14.90 8.33 11.60 7.2 0.9 374.85

    CENTRAL FINANCE CFINN MainB M 185.00 1.04 2.72 8.76 104.88 20.15% 140.53 2,970.20 796.33 785.24 648.67 739.97 28.32 6.5 1.3 19,403.42

    NATION LANKA CSF N MainB M 9.80 (1.01) (2.97) (2.00) 249.91 na 1.74 (289.83) (81.05) (100.43) (80.37) (27.98) na na 5.6 2,449.15

    LOLC LOLCN MainB M 62.00 (4.76) 3.33 20.39 475.20 19.06% 43.37 3,928.29 605.22 656.84 1,992.41 673.82 8.27 7.5 1.4 29,462.40

    LB FINANCE LFINN MainB M 144.00 - (2.77) (3.68) 69.26 39.52% 65.30 1,787.02 429.15 432.96 487.04 437.87 25.80 5.6 2.2 9,973.03

    MERCHANT BANK MBSLN MainB D 19.30 (2.51) (2.02) (14.54) 135.00 3.33% 22.06 99.25 30.48 6.67 16.52 45.57 0.74 26.3 0.9 2,605.50

    PEOPLE'S MERCHANT PMB N MainB M 13.40 (2.90) (9.46) (12.99) 67.50 na 13.20 (149.66) 1.28 (36.87) (110.23) (3.84) na na 1.0 904.50

    SMB LEASING PLC [V] SEMBN MainB D 0.90 (11.11) (11.11) (27.27) 1,191.77 3.99% 0.53 38.19 27.83 9.91 6.63 (6.18) 0.02 42.6 1.7 1,072.59

    SMB LEASING PLC [NV] SEMBX MainB D 0.40 - - - 614.07 3.99% 0.53 38.19 27.83 9.91 6.63 (6.18) 0.02 18.9 0.8 245.63

    THE FINANCE TFC N MainB M 17.60 (1.73) (6.59) (15.00) 57.97 na -29.22 (981.80) (357.76) (393.92) (212.61) (17.50) na na -0.6 1,020.21

    THE FINANCE[NV] TFC X MainB M 5.40 (3.57) (15.63) (16.92) 100.00 na -29.22 (981.80) (357.76) (393.92) (212.61) (17.50) na na -0.2 540.00

    SOFTLOGIC FINANCE CRL N DiriSaviB M 24.90 (4.60) (9.45) (11.07) 37.45 9.66% 29.77 107.71 55.33 52.38 2.88 8.7 0.8 932.60

    PEOPLE'S FINANCE SMLLN DiriSaviB D 39.00 (1.01) 6.49 35.40 74.58 20.07% 25.18 376.87 176.67 200.21 5.05 7.7 1.5 2,908.50

    VALLIBEL FINANCE VFINN MainB M 31.00 - 1.31 (9.36) 41.55 32.49% 18.61 251.29 66.92 61.74 57.03 65.60 6.05 5.1 1.7 1,288.07

    SINHAPUTRA SFL N DiriSaviB M 81.00 (0.12) 2.14 (2.76) 6.30 7.85% 123.96 61.27 31.19 30.08 9.73 8.3 0.7 509.97

    SINGER FINANCE SFINN MainB M 12.90 (1.52) (3.70) (10.34) 165.33 12.49% 10.85 224.00 61.19 59.43 46.04 57.34 1.35 9.5 1.2 2,132.80

    BIMPUTH LANKA INVESTMENTS BLI N DiriSaviB M 15.10 (2.58) (19.68) (38.37) 26.93 7.19% 8.93 17.30 3.94 13.37 0.64 23.5 1.7 406.69

    TRADE FINANCE TFILN DiriSaviB M 12.80 (1.54) (0.78) (1.54) 56.80 20.22% 10.82 124.27 71.12 53.16 2.19 5.9 1.2 727.05

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    Broad MarketCompany Year Price Performance Shares Trailing BVPS Net Profit Net Profits Trailing Trailing PBV Mkt Cap Mn

    End 1W(%) 1M(%) 1Q(%) Mn ROE 4Qtrs Sep'12 Jun'12 Mar'12 Dec'11 EPS PE

    CITIZENS DEVELOPMENT FINANCE CDB N MainB M 42.00 2.44 1.20 4.48 46.30 25.68% 45.67 636.84 148.50 97.04 234.27 157.03 11.73 3.6 0.9 1,944.57

    CITIZENS DEVELOPMENT FINANCE [NV] CDB X MainB M 30.00 (0.66) (5.96) 6.38 8.01 25.68% 45.67 636.84 148.50 97.04 234.27 157.03 11.73 2.6 0.7 240.18

    SENKADAGALA FINANCE SFCLN DiriSaviB M 50.00 - - - 53.37 34.27% 33.57 613.96 178.10 136.29 153.74 145.84 11.50 4.3 1.5 2,668.40

    SWARNAMAHAL FINANCE SFS N DiriSaviB M 3.70 2.78 8.82 2.78 500.00 26.83% 1.01 135.82 71.65 64.17 0.27 13.6 3.7 1,850.00

    CHILAW FINANCE LIMITED CFL N DiriSaviB M 12.70 (5.22) (7.30) (19.11) 29.66 10.43% 10.86 33.60 12.42 21.18 1.13 11.2 1.2 376.73

    COMMERCIAL CREDIT LIMITED COCRN DiriSaviB M 14.40 (1.37) (9.43) (5.88) 218.07 61.41% 5.70 763.07 270.32 492.75 3.50 4.1 2.5 3,140.27

    MERCANTILE INVESTMENTS MERCN DiriSaviB M 2200.00 - - - 3.01 4.64% 1892.02 264.15 416.78 (152.64) 87.87 25.0 1.2 6,613.20

    MULTI FINANCE MFL N DiriSaviB M 28.00 3.32 2.19 (11.11) 22.46 0.12% 19.55 0.52 (13.68) 14.20 0.02 1204.9 1.4 628.94

    LANKA ORIX FINANCE LOFCN DiriSaviB M 3.50 - (7.89) (5.41) 2,800.00 22.09% 1.89 1,171.41 543.10 628.31 0.42 8.4 1.8 9,800.00

    ABANS FINANCIAL SERVICES AFSLN DiriSaviB M 31.00 (8.55) (10.66) (14.36) 37.00 13.82% 11.66 59.63 27.55 32.08 1.61 19.2 2.7 1,147.00

    CENTRAL INV & FINPLC CIFLN MainB M 3.80 (5.00) (11.63) (17.39) 83.43 na 8.07 (28.41) (31.16) 0.41 0.83 1.52 0.00 na 0.5 317.02

    ASSOCIATED MOTOR FINANCE PLC AMF N DiriSaviB M 375.00 (6.25) (11.56) (6.25) 5.61 29.16% 101.32 165.68 73.79 91.88 79.92 29.54 12.7 3.7 2,103.13

    CAPITAL ALLIANCE FINANCE LIMITED CALFN DiriSaviB M 19.00 (1.11) (9.64) (39.66) 38.77 5.69% 6.17 13.61 5.77 7.84 0.35 54.1 3.1 736.55

    NANDA INVESTMENTS AND FINANCE NIFLN DiriSaviB M 6.80 (1.43) 2.99 7.81 100.72 8.38% 5.17 43.67 12.26 31.40 0.43 15.7 1.3 684.87

    SOFTLOGIC CAPITAL LIMITED SCAPN DiriSaviB M 6.00 (1.64) (13.04) (13.04) 299.20 na 5.62 (533.81) (172.30) (361.51) 1,795.20

    ENTRUST ESL N DiriSaviB M 19.20 (9.86) (4.48) 6.67 33.00 1.48% 20.02 9.75 56.55 (46.80) 633.60

    PEOPLES LEASING PLC N MainB M 14.00 8.46 (0.70) 17.50 1,560.00 18.31% 12.26 3,502.00 806.00 710.00 1,154.00 832.00 2.24 6.2 1.1 21,840.00

    ASIA ASSET FINANCE LIMITED AAF N DiriSaviB M 2.50 (3.85) (10.71) (3.85) 559.47 7.88% 1.26 55.44 36.00 19.44 0.10 25.2 2.0 1,398.68

    ORIENT FINANCIAL SERVICE ORINN DiriSaviB M 15.60 6.12 4.70 (6.02) 115.63 24.42% 6.23 175.89 88.62 87.27 1.52 10.3 2.5 1,803.75

    SANASA DEVELOPMENT BANK SDB N DiriSaviB M 71.90 (3.22) (5.00) (5.99) 25.18 9.91% 123.34 307.79 65.36 111.65 196.14 na na na 1,810.11

    COMMERCIAL LEASING & FINANCE CLC N DiriSaviB M 4.20 5.00 7.69 13.51 6,377.71 10.15% 1.13 730.30 594.70 135.60 0.11 36.7 3.7 26,786.39

    GEORGE STEUART FINANCE GSF N DiriSaviB M 650.10 4.02 (11.74) (12.27) 22.50 7.24% 15.51 25.25 15.12 10.13 1.12 579.3 41.9 14,627.25

    nsurance 3,715.04 384.35 490.68 389.22 2,450.79

    AMANA TAKAFUL INS. ATL N DiriSaviB D 1.70 6.67 (5.88) - 1,000.00 na 0.89 (68.83) 17.08 (85.91) 1,700.00

    ASIAN ALLIANCE AAICN DiriSaviB D 82.50 (0.12) (6.25) (2.94) 37.50 2.21% 22.86 18.90 (25.82) 44.73 3,093.75

    CEYLINCO INSURANCE [V] CINSN MainB D 953.00 (4.70) 2.47 18.99 20.00 12.62% 425.89 1,419.35 160.50 109.16 220.66 929.03 53.73 17.7 2.2 19,060.00

    CEYLINCO INSURANCE [NV] CINSX MainB D 320.00 - (3.00) (1.54) 6.41 12.62% 425.89 1,419.35 160.50 109.16 220.66 929.03 53.73 6.0 0.8 2,052.63

    AVIVA NDB CTCEN MainB D 291.10 (4.43) (5.49) (15.62) 30.00 23.66% 105.30 747.30 103.09 99.99 63.35 480.87 24.91 11.7 2.8 8,733.00

    HNB ASSURANCE HASUN MainB D 53.00 0.19 7.54 1.93 50.00 21.28% 32.95 350.57 54.86 54.89 28.95 211.87 7.01 7.6 1.6 2,650.00

    UNION ASSURANCE UAL N MainB D 87.00 (2.25) 1.16 (1.14) 85.71 25.44% 33.38 727.80 65.90 71.61 76.27 514.02 8.49 10.2 2.6 7,457.14

    JANASHAKTHI JINSN DiriSaviB D 10.80 - - - 363.00 16.56% 8.65 519.94 163.77 356.17 1.43 7.5 1.2 3,920.40

    Venture Capital Co.s 559.21 221.70 219.43 167.65 (49.58)

    NDB CAPITAL CDICN MainB D 490.00 0.31 (4.33) 15.71 43.86 9.23% 127.78 516.98 118.53 145.90 88.69 163.86 11.79 41.6 3.8 21,488.95

    FIRST CAPITAL CFVFN MainB M 12.30 6.03 4.24 (1.60) 101.25 na 12.34 (181.19) 73.04 33.95 (73.30) (214.88) na na 1.0 1,245.38

    LANKA VENTURES LVENN MainB M 32.00 3.23 - 6.31 50.00 24.17% 18.49 223.41 30.13 39.59 152.26 1.44 4.47 7.2 1.7 1,600.00

  • 7/29/2019 WEEKLY 07 Asia Capital

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    Sri Lanka Focus 15th

    February 2013 ASIA RESEARCH TEAM 16

    Broad MarketCompany Year Price Performance Shares Trailing BVPS Net Profit Net Profits Trailing Trailing PBV Mkt Cap Mn

    End 1W(%) 1M(%) 1Q(%) Mn ROE 4Qtrs Sep'12 Jun'12 Mar'12 Dec'11 EPS PE

    BEVERAGE FOOD AND TOBACCO (0.57) (0.85) 15.69 28.33% 25,832.26 6,377.65 6,001.66 8,265.38 5,187.57 16.59 4.70

    BAIRAHA FARMS BFL N MainB M 125.00 (13.61) (15.33) (16.61) 16.00 22.92% 100.50 368.59 18.50 50.08 149.99 150.03 23.04 5.4 1.2 2,000.00

    CARGILLS CARGN MainB M 153.00 1.66 4.08 6.25 224.00 11.56% 34.22 886.56 81.07 245.79 322.24 237.46 3.96 38.7 4.5 34,272.00

    CEYLON BREWERY BREWN MainB M 469.50 (1.16) (2.11) 3.14 20.99 28.56% 136.74 819.51 169.09 151.14 92.39 406.88 39.05 12.0 3.4 9,853.91

    CEYLON COLD STORES CCS N MainB M 138.00 (2.13) 2.99 9.00 95.04 32.18% 77.17 2,359.74 179.40 250.90 1,546.06 383.38 24.83 5.6 1.8 13,115.52

    CEYLON TEA SERVICES CTEAN MainB M 650.00 0.17 (6.99) 0.17 20.00 29.44% 372.76 2,194.96 456.20 427.46 834.87 476.43 109.75 5.9 1.7 13,000.00

    CEYLON TOBACCO CTC N MainB D 828.00 (0.74) (5.27) 15.18 187.32 179.64% 24.20 8,145.00 2,300.00 2,405.00 1,489.0 1,951.00 43.48 19.0 34.2 155,104.07

    RENUKA SHAW WALLACE (N) COCON MainB M 20.00 (5.66) 4.71 (54.75) 89.77 10.91% 15.31 157.95 39.80 36.79 18.61 62.75 1.67 12.0 1.3 1,795.44

    RENUKA SHAW WALLACE [NV] COCOX MainB M 20.00 (3.13) 6.90 (50.00) 4.77 10.91% 15.31 157.95 39.80 36.79 18.61 62.75 1.67 12.0 1.3 95.47

    CONVENIENCE FOOD SOY N MainB M 125.00 0.40 (9.42) (17.76) 2.75 8.96% 98.07 24.18 3.90 (0.17) 5.43 15.02 8.79 14.2 1.3 343.75

    DISTILLERIES DISTN MainB M 185.00 0.98 2.72 23.33 300.00 15.46% 133.86 6,209.77 1,616.60 1,461.80 2,857.87 273.50 20.70 8.9 1.4 55,500.00

    HARISCHANDRA MILLS HARIN MainB M 2400.00 (3.99) (9.40) (4.00) 0.96 18.34% 614.26 108.12 22.33 19.49 42.74 23.57 112.65 21.3 3.9 2,303.52

    KEELLS FOOD PRODUCTS KFP N MainB M 70.00 - (9.33) 0.86 25.50 7.89% 57.77 116.29 4.97 15.23 45.00 51.09 4.56 15.3 1.2 1,785.00

    KOTMALE HOLDINGS LAMBN MainB M 36.00 1.41 (5.26) (7.22) 31.40 10.89% 21.45 73.34 16.12 27.34 7.95 21.93 2.34 15.4 1.7 1,130.40

    LION BREWERY LIONN MainB M 320.00 (0.31) 6.67 14.37 80.00 22.90% 68.66 1,257.97 314.53 313.42 186.85 443.18 15.72 20.4 4.7 25,600.00

    LANKA MILK FOODS LMF N MainB M 116.00 0.78 9.34 31.56 40.00 6.36% 53.41 135.79 78.55 43.98 (36.49) 49.75 3.39 34.2 2.2 4,639.77

    NESTLE LANKA NESTN MainB D 1625.00 (1.29) 2.28 26.97 53.73 93.78% 52.59 2,649.72 798.13 784.17 461.82 605.60 49.32 32.9 30.9 87,303.88

    THREE ACRE FARMS TAFLN MainB D 47.80 (1.85) (4.40) (14.49) 23.55 na 35.18 (149.28) 3.57 (254.68) 64.81 37.03 na na 1.4 1,125.45

    RENUKA AGRI RAL N DiriSaviB M 4.70 (4.17) - (2.13) 561.75 18.76% 3.41 359.35 198.72 160.62 0.64 7.3 1.4 2,640.23

    TEA SMALLHOLDERS TSMLN MainB M 46.00 (6.12) (0.86) (4.17) 30.00 8.22% 21.92 54.07 30.62 23.92 0.56 (1.03) 1.80 25.5 2.1 1,380.00

    RAIGAM WAYAMBA SALTERNS LTD RWSLN DiriSaviB M 2.50 - - (3.70) 282.21 3.74% 2.66 28.12 20.02 8.10 0.10 25.1 0.9 705.52

    HVA FOODS HVA N DiriSaviB M 12.90 (1.52) (0.76) (5.11) 66.43 6.54% 7.48 32.51 25.54 6.98 0.49 26.4 1.7 856.93

    CHEMICALS & PHARMACEUTICALS (2.77) (4.06) (6.87) 9.68% 2,012.42 395.29 127.64 470.74 1,018.75 9.80 0.95

    CHEMANEX CHMXN MainB M 80.00 - (1.23) 2.56 15.75 1.44% 80.60 18.22 9.86 (6.14) (8.49) 22.99 1.16 69.2 1.0 1,260.00

    CHEMICAL INDUSTRIES [V] CIC N MainB M 62.60 (3.69) (3.10) (13.77) 72.90 7.70% 76.36 556.91 48.63 (17.32) 155.61 369.99 5.88 10.7 0.8 4,563.54

    CHEMICAL INDUSTRIES [NV] CIC X MainB M 49.90 - (6.54) (13.64) 21.87 7.70% 76.36 556.91 48.63 (17.32) 155.61 369.99 5.88 8.5 0.7 1,091.31

    HAYCARB HAYCN MainB M 170.00 (5.71) (3.41) (0.64) 29.71 19.00% 123.20 695.61 243.24 179.15 132.72 140.50 23.41 7.3 1.4 5,051.10

    NDUSTRIAL ASPHALTS ASPHN MainB M 200.00 (0.79) (10.71) (19.32) 0.67 3.70% 106.71 2.63 0.47 0.55 1.11 0.51 3.95 50.6 1.9 133.31

    J.L. MORISON [V] MORIN MainB M 170.00 - (10.53) (10.53) 5.81 10.23% 252.97 195.34 36.52 25.17 81.41 52.24 25.87 6.6 0.7 987.41

    J.L. MORISON [NV] MORIX MainB M 102.60 (3.21) (11.55) (9.28) 1.74 10.23% 252.97 195.34 36.52 25.17 81.41 52.24 25.87 4.0 0.4 178.78

    LANKEM CEYLON LCEYN MainB M 162.00 - (3.57) (4.14) 24.00 9.78% 153.92 361.44 (11.17) (72.66) 42.27 403.01 15.06 10.8 1.1 3,888.00

    SINGALANKA SINGN MainB M 78.00 (18.32) (13.62) (25.64) 5.54 5.88% 54.16 17.64 27.83 (3.21) (13.77) 6.79 3.18 24.5 1.4 432.18

    MULLERS MULLN MainB M 1.60 (5.88) (5.88) (11.11) 283.00 28.10% 0.61 48.41 13.43 8.74 19.06 7.19 0.17 9.4 2.6 452.80

    UNION CHEMICALS UCARN MainB D 460.00 - (7.82) (11.54) 1.50 17.11% 192.15 49.31 5.94 13.37 14.47 15.53 32.87 14.0 2.4 690.00

    PC PHARMA PCP N DiriSaviB 9.90 8.79 (1.00) (1.98) 101.00 24.28% 2.73 66.90 20.54 46.36 na 0.66 14.9 3.6 999.90

    CONSTRUCTIONS (0.09) 3.06 2.17 15.69% 4,042.32 1,218.16 420.13 1,687.27 716.77 9.86 1.55

    COLOMBO DOCKYARD DOCKN MainB D 227.00 (0.61) (1.94) 1.11 71.86 21.91% 140.53 2,212.59 343.17 450.98 745.17 673.27 30.79 7.4 1.6 16,311.98

    LANKEM DEVELOPMENTS LDEVN MainB M 6.90 - (5.48) (6.76) 60.00 na 14.02 (329.17) (26.82) 18.04 (250.85) (69.54) na na 0.5 414.00

    MTD WALKERS KAPIN MainB M 24.60 (4.65) (8.55) (9.56) 114.36 1.47% 31.79 53.54 89.54 (48.89) (100.14) 113.03 0.47 52.5 0.8 2,813.19

    ACCESS ENGINEERING LIMITED AEL N MainB M 20.30 0.99 9.63 5.13 1,000.00 18.83% 11.18 2,105.37 812.27 1,293.10 2.11 9.6 1.8 20,300.00

  • 7/29/2019 WEEKLY 07 Asia Capital

    17/23

    Sri Lanka Focus 15th

    February 2013 ASIA RESEARCH TEAM 17

    Broad MarketCompany Year Price Performance Shares Trailing BVPS Net Profit Net Profits Trailing Trailing PBV Mkt Cap Mn

    End 1W(%) 1M(%) 1Q(%) Mn ROE 4Qtrs Sep'12 Jun'12 Mar'12 Dec'11 EPS PE

    DIVERSIFIED (0.85) 2.81 2.47 10.98% 29,254.31 7,122.60 4,201.60 11,832.86 6,097.25 16.83 1.85

    AITKEN SPENCE SPENN MainB M 125.00 (0.79) 3.73 (0.79) 406.00 15.23% 63.82 3,947.22 731.41 640.57 1,756.50 818.74 9.72 12.9 2.0 50,749.51

    CARSON CUMBERBATCH CARSN MainB M 458.00 (3.48) 7.26 2.90 196.39 7.46% 164.94 2,418.12 874.90 (93.01) 1,383.67 252.55 12.31 37.2 2.8 89,945.21

    CEYLON THEATRES CTHRN MainB M 140.00 (0.14) 7.69 6.87 183.10 8.41% 68.89 1,060.36 147.06 196.16 439.74 277.40 5.79 24.2 2.0 25,633.62

    COLOMBO FORT LAND CFLBN MainB M 31.10 (3.98) (6.27) (10.80) 180.00 18.20% 32.11 1,051.63 7.14 180.99 385.72 477.78 5.84 5.3 1.0 5,598.00

    FINLAYS COLOMBO JFINN MainB D 316.20 - 17.11 15.07 35.00 6.27% 154.18 338.44 82.13 89.88 83.71 82.72 9.67 32.7 2.1 11,067.00

    HAYLEYS HAYLN MainB M 308.00 2.37 2.09 0.83 75.00 5.65% 250.97 1,063.14 372.48 219.08 178.40 293.18 14.18 21.7 1.2 23,100.00

    HEMAS HOLDINGS HHL N MainB M 27.80 0.36 1.08 (0.71) 515.29 13.20% 21.24 1,444.73 387.78 334.33 372.08 350.54 2.80 9.9 1.3 14,325.08

    JOHN KEELLS HOLDINGS JKH N MainB M 230.00 0.09 2.59 6.63 852.52 14.56% 87.82 10,900.49 2,411.73 1,658.72 4,096.65 2,733.40 12.79 18.0 2.6 196,079.61

    DUNAMIS CAPITAL CSECN MainB M 12.20 (4.80) (0.83) (4.80) 123.00 na 8.97 (249.73) 20.37 (9.59) (73.92) (186.59) na na 1.4 1,500.56

    RICHARD PIERIS RICHN MainB M 7.40 (3.90) (5.13) (8.64) 1,939.24 30.85% 3.52 2,107.10 569.53 445.54 481.07 610.96 1.09 6.8 2.1 14,350.36

    SUNSHINE HOLDINGS SUN N MainB M 28.00 - 4.87 (3.45) 133.33 21.45% 22.76 651.09 98.31 184.14 243.30 125.33 4.88 5.7 1.2 3,733.33

    SOFTLOGIC HOLDINGS SHL N MainB M 11.50 1.77 (1.71) 9.52 779.00 2.54% 10.03 198.30 133.57 71.01 (74.14) 67.86 0.25 45.2 1.1 8,958.50

    EXPOLANKA HOLDINGS EXPON MainB M 7.10 - 2.90 - 1,954.92 12.14% 4.48 1,062.91 299.27 283.79 286.48 193.37 0.54 13.1 1.6 13,879.90

    FREE LANKA CAPITAL HOLDINGS FLCHN DiriSaviB M 2.50 - (3.85) - 1,368.00 5.37% 4.85 356.68 203.23 153.45 0.26 9.6 0.5 3,420.00

    VALLIBEL ONE LIMITED VONEN DiriSaviB M 17.00 (2.87) (8.65) (9.63) 1,086.56 6.07% 28.07 1,850.83 796.53 1,054.31 1.70 10.0 0.6 18,471.51

    BROWNS INVESTMENTS PLC BIL N DiriSaviB M 3.40 - (10.53) (19.05) 1,860.00 1.41% 5.85 152.88 21.70 131.18 0.08 41.4 0.6 6,324.00

    PCH HOLDINGS LIMITED PCHHN DiriSaviB M 7.00 (1.41) (6.67) (21.35) 252.00 79.92% 6.26 1,261.38 (52.17) 1,313.55 5.01 1.4 1.1 1,764.00

    TAPROBANE HOLDINGS TAP N DiriSaviB M 4.80 - - (5.88) 732.95 3.35 (361.28) 17.62 (378.90) 1.4 3,518.16

    FOOTWEAR AND TEXTILES (2.55) 1.48 0.28 -5.59% (432.25) (29.84) (60.71) (236.86) (104.84) na 1.39

    CEYLON LEATHER CLPLN MainB M 72.60 (0.68) (6.08) (11.57) 34.23 2.25% 87.18 67.26 16.60 27.38 (15.42) 38.70 1.96 37.0 0.8 2,485.37

    HAYLEYS - MGT MGT N MainB M 10.30 (8.85) (3.74) 0.98 152.34 na 12.51 (653.37) (85.11) (41.65) (369.86) (156.75) na na 0.8 1,569.14

    KURUWITA TEXTILES KURUN MainB M 22.00 4.76 4.76 - 25.00 na 34.72 (30.11) (65.46) (46.45) 68.59 13.21 na na 0.6 550.00

    ODEL ODELN DiriSaviB M 22.50 (2.17) 6.13 1.35 272.13 9.33% 7.25 183.97 104.14 79.84 0.68 33.3 3.1 6,122.91

    HOTELS AND TRAVELS (1.14) (1.06) (4.40) 7.97% 6,973.81 1,971.84 551.82 2,591.99 1,858.16 21.66 1.73

    City Hotels 2,600.56 1,149.27 268.53 504.87 677.89

    ASIAN HOTEL & PROPERTIES AHPLN MainB M 72.00 (4.70) (4.70) (14.46) 442.78 16.86% 33.03 2,464.92 565.37 406.75 970.15 522.66 5.57 12.9 2.2 31,879.82

    GALADARI GHLLN MainB D 13.20 (1.50) (6.43) (6.43) 182.43 na 3.00 (846.04) 339.77 (323.10) (663.02) (199.69) na na 4.4 2,408.13

    HOTEL DEVELOPERS HDEVN DefaultB M 94.80 - - - 45.23 na na na na na na na na 4,287.43

    HOTEL SERVICES SERVN MainB M 15.90 (4.32) (9.88) (3.73) 176.00 na 6.96 (389.53) (106.40) (96.74) (199.64) 13.25 na na 2.3 2,798.40

    RENUKA CITY HOTEL RENUN MainB M 240.00 1.40 (0.71) 2.27 7.00 18.10% 310.30 393.24 46.60 104.28 118.47 123.89 56.18 4.3 0.8 1,680.00

    TAJ LANKA TAJ N MainB M 28.90 5.09 - (7.07) 139.64 7.58% 15.88 168.10 87.53 23.20 6.73 50.64 1.20 24.0 1.8 4,035.52

    TRANS ASIA TRANN MainB M 77.00 - 2.80 (1.41) 200.00 15.54% 26.05 809.87 216.40 154.14 272.18 167.15 4.05 19.0 3.0 15,400.00

  • 7/29/2019 WEEKLY 07 Asia Capital

    18/23

    Sri Lanka Focus 15th

    February 2013 ASIA RESEARCH TEAM 18

    Broad MarketCompany Year Price Performance Shares Trailing BVPS Net Profit Net Profits Trailing Trailing PBV Mkt Cap Mn

    End 1W(%) 1M(%) 1Q(%) Mn ROE 4Qtrs Sep'12 Jun'12 Mar'12 Dec'11 EPS PE

    Resort Hotels 4,373.25 822.58 283.29 2,087.12 1,180.27

    AIT. SPENCE HOTEL HOLD. AHUNN MainB M 76.30 2.83 6.56 9.00 336.29 14.14% 33.73 1,604.23 227.60 171.51 697.77 507.35 4.77 16.0 2.3 25,658.93

    AMAYA LEISURE CONNN MainB M 84.00 (3.45) 6.19 5.00 48.03 15.87% 47.40 361.41 110.82 53.47 113.77 83.35 7.52 11.2 1.8 4,034.88

    BROWNS BEACH HOTELS BBH N MainB M 18.80 (2.11) 1.09 (8.82) 129.60 5.00% 26.16 169.64 50.60 45.04 40.99 33.01 1.31 14.4 0.7 2,436.48

    CEYLON HOTELS CORP. CHOTN MainB M 20.50 0.49 (3.32) (10.53) 171.83 0.17% 34.30 9.77 9.60 (25.93) 34.36 (8.26) 0.06 360.6 0.6 3,522.42

    PALM GARDEN HOTEL PALMN MainB M 113.00 (1.97) (12.31) (23.53) 14.29 na 84.77 (521.32) (22.15) (121.80) (328.80) (48.57) na na 1.3 1,614.88

    BERUWALA WALK INN BINNN MainB D 74.90 - 1.22 (5.19) 0.90 na na (12.85) (4.79) (16.59) (66.85) 75.38 na na na 67.41

    EDEN HOTELS EDENN MainB M 35.00 - (2.78) - 52.80 12.03% 29.44 187.02 26.23 15.11 95.93 49.75 3.54 9.9 1.2 1,848.00

    HOTEL SIGIRIYA HSIGN MainB M 80.10 0.13 (3.49) 0.13 5.86 24.04% 38.16 53.75 16.50 7.77 17.99 11.49 9.17 8.7 2.1 469.31

    HUNAS FALLS HUNAN MainB M 58.70 10.75 1.21 3.89 5.63 23.05% 19.29 25.01 11.17 7.70 3.52 2.62 4.45 13.2 3.0 330.19

    KANDY HOTELS KHC N MainB M 9.80 (4.04) 1.06 (3.06) 577.50 2.33% 9.99 134.21 50.60 26.87 40.41 16.33 0.23 42.2 1.0 5,659.50

    JOHN KEELLS HOTELS KHL N MainB M 13.70 - - 1.48 1,456.15 8.42% 9.31 1,140.90 116.49 40.36 698.09 285.96 0.78 17.5 1.5 19,949.21

    LIGHT HOUSE HOTEL LHLN DiriSaviB M 45.80 4.09 (6.15) 3.85 46.00 5.55% 50.58 129.04 12.10 14.29 78.80 23.85 2.81 16.3 0.9 2,106.80

    MIRAMAR MIRAN DefaultB M 77.00 (6.10) (18.60) (22.85) 2.75 na na na na na na na na na 211.75

    MAHAWELI REACH MRH N MainB M 22.20 0.91 8.29 5.71 47.07 6.41% 19.02 57.35 19.53 1.01 26.79 10.02 1.22 18.2 1.2 1,044.88

    NUWARA ELIYA NEH N MainB M 1275.80 (8.81) (8.88) (6.66) 2.00 11.47% 1078.46 247.84 107.56 36.72 78.94 24.62 123.68 10.3 1.2 2,556.54

    PEGASUS PEG N MainB M 41.80 4.49 4.75 7.71 30.39 8.05% 44.11 107.88 17.60 21.23 41.02 28.03 3.55 11.8 0.9 1,270.37

    CITRUS LEISURE REEFN MainB M 23.00 (1.30) (8.10) (20.07) 96.48 0.33% 25.35 8.16 4.60 (22.02) 80.57 (54.99) 0.08 271.9 0.9 2,218.97

    ROYAL PALMS RPBHN MainB M 40.00 (6.54) (13.04) (25.93) 50.00 9.38% 28.84 135.19 16.97 (1.24) 85.46 34.00 2.70 14.8 1.4 2,000.00

    SIGIRIYA VILLAGE SIGVN MainB M 66.00 (0.90) (9.66) (6.61) 9.00 8.47% 58.05 44.27 12.15 (1.26) 16.21 17.17 4.92 13.4 1.1 594.00

    DOLPHIN HOTELS STAFN MainB M 34.30 (0.29) (3.38) (2.56) 31.62 14.09% 28.00 124.79 30.00 26.49 39.73 28.57 3.95 8.7 1.2 1,084.62

    TANGERINE TANGN MainB M 80.00 - 6.24 2.56 20.00 6.86% 101.07 138.72 17.68 9.34 69.10 42.60 6.94 11.5 0.8 1,600.00

    SERENDIB HOTELS [V] SHOTN MainB M 23.10 (4.10) (0.43) (3.31) 75.51 4.89% 14.09 76.85 40.75 (4.78) 22.89 17.99 0.69 33.5 1.6 1,744.39

    SERENDIB HOTELS [NV] SHOTX MainB M 18.60 (0.53) 2.76 (1.59) 36.01 4.89% 14.09 76.85 40.75 (4.78) 22.89 17.99 0.69 27.0 1.3 669.81

    MARAWILA RESORTS MARAN DiriSaviB M 6.70 (1.47) (10.67) (14.10) 122.50 3.84% 7.07 33.28 (5.30) 38.58 0.27 24.7 0.9 820.75

    FORTRESS RESORTS RHTLN DiriSaviB M 15.40 - (4.91) (7.19) 110.89 19.93% 7.07 156.21 35.35 120.86 1.41 10.9 2.2 1,707.65

    KALPITIYA BEACH RESORT CITKN DiriSaviB M 6.10 (3.17) (10.29) (15.28) 161.20 na 10.34 (94.89) (49.51) (45.38) na na 0.6 983.32

    WASKADUWA BEACH RESORT CITWN DiriSaviB M 6.00 (1.64) (4.76) (13.04) 155.60 2.72% 10.44 44.13 12.14 31.99 0.28 21.2 0.6 933.60

    BERUWALA RESORTS BERUN DiriSaviB M 2.40 - (7.69) (11.11) 600.00 2.28% 0.93 12.67 (41.72) 54.38 0.02 113.7 2.6 1,440.00

    HIKKADUWA BEACH RESORT CITHN DiriSaviB M 17.10 (10.78) (17.27) - 57.57 na na -

    NVESTMENT TRUST (2.28) 2.33 (5.10) 1.57% 439.03 539.00 (156.22) 233.09 (176.84) 67.69 1.06

    ASCOT HOLDINGS ASCON MainB M 161.00 (3.59) 2.42 (7.26) 7.99 na 70.87 (10.10) 22.47 31.09 (45.24) (18.42) na na 2.3 1,285.67

    CEYLON GUARDIAN GUARN MainB M 176.00 (0.11) 5.64 (6.88) 82.10 1.72% 168.92 238.67 324.44 (77.01) 112.90 (121.66) 2.91 60.5 1.0 14,449.02

    CEYLON INVESTMENT CINVN MainB M 85.00 (5.45) - (5.35) 98.51 1.75% 82.28 142.07 148.66 (53.46) 112.93 (66.06) 1.44 58.9 1.0 8,373.76

    COLOMBO FORT INV. CFIN MainB M 105.00 (6.18) (9.31) (6.35) 6.50 5.70% 45.38 16.82 10.50 2.48 1.66 2.18 2.59 40.6 2.3 682.50

    COLOMBO INV. TRUST CIT N MainB M 113.00 (12.40) (31.18) (13.08) 6.50 8.22% 33.31 17.79 12.18 3.30 1.16 1.15 2.74 41.3 3.4 734.50

    LEE HEDGES SHAWN MainB M 253.00 0.32 (2.81) (9.75) 5.12 na 443.37 (128.23) (38.57) (36.99) (30.39) (22.28) na na 0.6 1,295.50

    RENUKA HOLDINGS [V] RHL N MainB M 35.50 0.57 (5.33) (6.33) 44.52 10.68% 42.40 230.68 47.90 30.34 91.84 60.60 4.53 7.8 0.8 1,580.36

    RENUKA HOLDINGS [NV] RHL X MainB M 24.00 (1.24) (5.56) (4.80) 6.43 10.68% 42.40 230.68 47.90 30.34 91.84 60.60 4.53 5.3 0.6 154.28

    GUARDIAN CAPITAL WAPON DiriSaviB M 45.00 (3.63) (9.80) (13.77) 25.83 na 20.66 (68.67) 11.42 (55.97) (11.77) (12.35) na na 2.2 1,162.52

  • 7/29/2019 WEEKLY 07 Asia Capital

    19/23

    Sri Lanka Focus 15th

    February 2013 ASIA RESEARCH TEAM 19

    Broad MarketCompany Year Price Performance Shares Trailing BVPS Net Profit Net Profits Trailing Trailing PBV Mkt Cap Mn

    End 1W(%) 1M(%) 1Q(%) Mn ROE 4Qtrs Sep'12 Jun'12 Mar'12 Dec'11 EPS PE

    LAND AND PROPERTY (0.59) (1.81) (2.15) 10.28% 4,391.72 685.54 271.68 748.89 2,685.61 8.01 0.82

    C T LAND CTLDN MainB M 26.10 (5.78) 8.75 6.53 48.75 10.99% 49.62 265.73 38.52 39.19 154.43 33.60 5.45 4.8 0.5 1,272.38

    CARGO BOAT CABON MainB M 88.00 0.80 10.00 (10.11) 10.20 12.28% 74.74 93.58 27.20 24.39 12.60 29.39 9.17 9.6 1.2 897.60

    CEYLINCO HOUSING CHOUN MainB M 13.90 (5.44) (6.71) (13.13) 13.38 46.91% 13.27 83.31 31.77 25.67 6.07 19.80 6.23 2.2 1.0 185.98

    CEYLINCO SEYLAN CSD N MainB M 9.00 (2.17) (4.26) (4.26) 147.96 0.44% 30.28 19.93 26.80 23.25 25.09 (55.20) 0.13 66.8 0.3 1,331.68

    COLOMBO LAND CLNDN MainB D 33.60 - (2.86) 1.49 199.88 na 18.22 (19.30) (5.10) (8.60) (1.80) (3.81) na na 1.8 6,716.00

    COMMERCIAL DEVELOP. COMDN MainB D 65.60 (10.50) 0.15 (9.02) 12.00 31.32% 85.15 320.07 17.89 3.94 13.03 285.20 26.67 2.5 0.8 787.20

    EAST WEST EASTN MainB M 13.90 (2.11) (6.08) (9.74) 138.24 0.41% 9.61 5.39 18.58 (6.15) (2.37) (4.67) 0.04 356.6 1.4 1,921.54

    EQUITY ONE EQITN MainB M 31.50 0.96 (2.78) (4.55) 40.32 5.85% 38.75 91.45 6.91 6.63 69.80 8.12 2.27 13.9 0.8 1,270.13

    EQUITY TWO ETWON MainB M 26.50 3.52 (1.49) 5.58 31.00 7.10% 17.77 39.11 (0.09) 0.17 38.33 0.70 1.26 21.0 1.5 821.50

    HUEJAY HUEJN MainB M 70.10 (5.91) (6.53) (12.27) 1.80 na na (4.72) 1.00 (1.20) (2.93) (1.59) na na na 126.18

    KELSEY DEVELOPMENTS KDL N MainB M 15.20 (3.87) (4.49) (12.35) 17.43 na 4.69 (36.92) (9.95) (20.32) (2.13) (4.51) na na 3.2 264.92

    ON'ALLY HOLDINGS ONALN MainB M 52.50 (0.94) (4.89) (6.25) 17.50 4.78% 65.36 54.73 17.48 18.23 5.10 13.92 3.13 16.8 0.8 918.79

    OVERSEAS REALTY OSEAN MainB D 14.10 - (1.40) - 843.48 13.50% 23.48 2,674.92 273.58 94.27 40.33 2,266.75 3.17 4.4 0.6 11,893.13

    PROPERTY DEVELOPMENT PDL N MainB D 45.90 6.00 3.61 (4.38) 66.00 15.26% 32.16 324.02 87.96 66.70 76.51 92.85 4.91 9.3 1.4 3,029.40

    SERENDIB LAND SLNDN MainB M 1775.00 - 10.94 10.94 0.36 14.86% 642.34 34.37 2.79 2.21 28.24 1.13 95.46 18.6 2.8 639.00

    YORK ARCADE YORKN MainB M 16.40 1.23 (3.53) (4.09) 12.00 14.40% 9.89 17.09 2.65 3.31 7.20 3.93 1.42 11.5 1.7 196.80

    NFRASTRUCTURE IDL N DiriSaviB M 154.00 (6.61) (8.33) 13.40 6.48 0.18 21.78 25.27 22.26 3.02 3.90 39.47 7.1 997.40

    TOUCHWOOD TWODN DiriSaviB M 7.10 (9.09) (21.35) (54.84) 106.91 0.13 29.39 403.68 125.30 278.38 3.78 1.88 0.2 759.03

  • 7/29/2019 WEEKLY 07 Asia Capital

    20/23

    Sri Lanka Focus 15th

    February 2013 ASIA RESEARCH TEAM 20

    Broad MarketCompany Year Price Performance Shares Trailing BVPS Net Profit Net Profits Trailing Trailing PBV Mkt Cap Mn

    End 1W(%) 1M(%) 1Q(%) Mn ROE 4Qtrs Sep'12 Jun'12 Mar'12 Dec'11 EPS PE

    MANUFACTURING (1.26) 0.22 3.01 17.08% 11,414.25 2,829.13 2,253.83 3,458.80 2,836.32 8.98 1.53

    ABANS ABANN MainB M 96.40 (0.41) (0.72) 0.84 4.26 18.70% 112.90 89.91 50.92 8.04 25.14 5.81 21.11 4.6 0.9 410.55

    ACL CABLES ACL N MainB M 67.00 - (7.71) (1.47) 59.89 9.47% 87.32 495.11 81.21 118.11 193.97 101.83 8.27 8.1 0.8 4,012.88

    ACL PLASTICS APLAN MainB M 100.00 5.26 9.65 (0.10) 4.21 9.76% 136.90 56.28 1.28 26.77 22.04 6.19 13.36 7.5 0.7 421.25

    ACME ACMEN MainB M 13.90 2.21 (6.08) (0.71) 25.61 na 19.71 (43.49) (25.48) (13.30) 35.55 (40.27) na na 0.7 356.02

    ALUFAB ALUFN DefaltB M 20.00 (1.96) (7.83) (12.66) 12.06 0.60% 21.36 1.53 3.06 4.97 2.78 0.13 157.4 0.9 241.16

    BLUE DIAMONDS [V] BLUEN MainB M 3.80 (2.63) (7.50) (13.95) 103.30 na 1.16 (45.82) 0.24 (21.41) (0.85) (23.79) na na 3.3 392.54

    BLUE DIAMONDS [NV] BLUEX MainB M 1.70 - - - 153.37 na 1.16 (45.82) 0.24 (21.41) (0.85) (23.79) na na 1.5 260.73

    BOGALA GRAPHITE BOGAN MainB D 24.00 - (5.51) (11.11) 47.32 20.44% 4.30 41.62 16.88 27.99 (15.02) 11.76 0.88 27.3 5.6 1,135.59

    CENTRAL INDUSTRIES CINDN MainB M 66.10 (1.05) (1.05) (0.30) 9.88 12.41% 90.93 111.57 30.98 21.22 34.73 24.65 11.29 5.9 0.7 653.35

    GRAIN ELEVATORS GRANN MainB D 50.00 (4.94) (9.58) (12.13) 60.00 14.56% 48.75 425.89 (34.78) 395.95 0.58 64.14 7.10 7.0 1.0 3,000.00

    CHEVRON LUBRICANTS LLUBN MainB D 217.50 (2.25) (0.64) 12.64 120.00 54.83% 34.62 2,277.70 521.99 533.17 661.10 561.44 18.98 11.5 6.3 26,100.00

    DANKOTUWA DPL N MainB D 16.90 (1.17) 1.81 (5.06) 72.25 4.63% 10.61 35.49 31.20 23.67 (3.44) (15.94) 0.49 34.4 1.6 1,220.95

    DIPPED PRODUCTS DIPDN MainB M 114.00 (0.87) 8.57 9.72 59.86 16.06% 95.48 917.70 345.02 285.68 136.35 150.65 15.33 7.4 1.2 6,824.21

    HAYLEYS FIBRE HEXPN MainB M 33.60 12.67 9.39 14.19 8.00 4.72% 43.65 16.48 6.92 7.21 9.36 (7.00) 2.06 16.3 0.8 268.80

    KELANI CABLES KCABN MainB M 69.70 2.35 (1.83) (0.43) 21.80 13.53% 93.01 274.35 57.21 60.82 107.88 48.45 12.59 5.5 0.7 1,519.46

    KELANI TYRES TYREN MainB M 33.50 0.90 (4.01) (4.83) 80.40 27.70% 18.95 422.04 130.24 81.06 123.73 87.02 5.25 6.4 1.8 2,693.40

    LANKA ALUMINIUM LALUN MainB M 34.00 4.29 (5.56) (5.56) 13.70 3.53% 43.21 20.90 (6.86) 13.76 13.92 0.08 1.53 22.3 0.8 465.90

    LANKA CEMENT LCEMN MainB D 9.10 (1.10) (3.23) (7.22) 173.51 na na (16.48) (4.22) (4.50) (4.93) (2.83) na na na 1,578.95

    LANKA CERAMIC CERAN MainB M 66.50 (1.04) 0.76 4.23 30.00 16.15% 84.16 407.75 90.02 (16.65) 193.52 140.86 13.59 4.9 0.8 1,995.00

    LANKA FLOORTILES TILEN MainB M 66.00 (0.60) 1.54 1.54 53.05 23.95% 53.13 675.09 159.02 54.00 321.62 140.45 12.73 5.2 1.2 3,501.33

    LANKA WALLTILES LWL N MainB M 58.10 (3.17) (4.75) (3.49) 54.60 17.19% 75.06 704.44 151.07 (15.79) 387.08 182.07 12.90 4.5 0.8 3,172.26

    LAXAPANA LITEN MainB M 5.90 (4.84) (14.49) (15.71) 39.00 na 3.60 (96.59) (40.30) (4.76) (41.84) (9.69) na na 1.6 230.10

    SWISSTEK (CEYLON) PLC PARQN MainB M 14.60 (1.35) 5.80 3.55 27.37 5.58% 21.17 32.31 2.09 (17.71) 39.41 8.52 1.18 12.4 0.7 399.63

    PELWATTE SUGAR SUGAN MainB M 23.50 - - - 67.98 na na na na na na 1,597.46

    PIRAMAL GLASS GLASN MainB M 6.20 1.64 3.33 - 950.09 21.94% 3.44 716.80 265.13 148.94 97.76 204.97 0.75 8.2 1.8 5,890.53

    PRINT CARE CAREN MainB M 29.50 (6.35) (1.99) (1.99) 85.97 21.67% 14.24 265.23 60.27 70.28 67.34 67.34 3.09 9.6 2.1 2,536.02

    REGNIS REG N MainB D 61.00 1.67 4.99 (4.84) 11.27 13.36% 51.54 77.57 7.44 18.03 38.73 13.37 6.88 8.9 1.2 687.34

    RICH PIERIS EXPORTS REXPN MainB M 34.00 (3.68) (2.86) (3.95) 11.16 418.12% 2.80 130.68 51.63 36.29 27.23 15.54 11.71 2.9 12.1 379.57

    ROYAL CERAMICS RCL N MainB M 100.00 0.40 4.06 5.16 110.79 22.71% 69.64 1,752.25 420.40 260.77 475.37 595.71 15.82 6.3 1.4 11,078.94

    SAMSON INTERNATIONAL SIL N MainB M 90.00 (7.79) 10.70 18.42 3.85 16.36% 97.97 61.66 13.74 12.76 29.92 5.24 16.02 5.6 0.9 346.32

    SINGER INDUSTRIES SININ MainB D 135.00 1.05 (3.57) (9.82) 3.85 0.83% 207.24 6.62 0.56 1.87 2.93 1.27 1.72 78.4 0.7 519.25

    SWADESHI SWADN MainB M 8200.00 - - - 0.13 8.98% 819.37 9.62 (3.24) (14.07) 13.42 13.51 0.05 172760.0 10.0 1,071.46

    TOKYO CEMENT [V] TKYON MainB M 25.00 (3.85) (4.21) (7.41) 202.50 9.28% 19.92 561.29 175.57 (19.99) 130.24 275.47 1.85 13.5 1.3 5,062.50

    TOKYO CEMENT [NV] TKYOX MainB M 18.50 (0.54) (2.12) (1.60) 101.25 9.28% 19.92 561.29 175.57 (19.99) 130.24 275.47 1.85 10.0 0.9 1,873.13

    SIERRA CABLES SIRAN MainB M 2.40 (4.17) (8.00) (11.54) 537.51 na 3.29 (33.51) (8.75) 0.63 (44.86) 19.46 na na 0.7 1,290.03

    TEXTURED JERSEY TJL N MainB M 10.20 0.99 13.33 17.24 655.00 13.11% 8.55 734.57 156.7 171.94 218.66 187.27 1.12 9.1 1.2 6,681.02

    AGSTAR FERTILIZERS LIMITED AGSTN DiriSaviB M 5.90 (4.84) (1.67) (9.23) 307.53 13.81% 6.64 282.24 125.04 157.20 0.92 6.4 0.9 1,814.41

    AGSTAR FERTILIZERS LIMITED AGSTX DiriSaviB M 15.00 - - - 17.47 13.81% 116.93 282.24 125.04 157.20 16.15 0.9 0.1 262.11

    ORIENT GARMENTS OGL N DiriSaviB M 11.00 (5.17) (17.91) (27.63) 54.92 6.97% 11.87 45.45 (23.20) 68.65 0.83 13.3 0.9 604.08

  • 7/29/2019 WEEKLY 07 Asia Capital

    21/23

    Sri Lanka Focus 15th

    February 2013 ASIA RESEARCH TEAM 21

    Broad MarketCompany Year Price Performance Shares Trailing BVPS Net Profit Net Profits Trailing Trailing PBV Mkt Cap Mn

    End 1W(%) 1M(%) 1Q(%) Mn ROE 4Qtrs Sep'12 Jun'12 Mar'12 Dec'11 EPS PE

    MOTORS (0.24) 3.25 (0.12) 31.17% 6,370.06 562.72 1,810.28 2,104.52 1,892.54 3.57 1.11

    AUTODROME AUTON MainB M 897.90 - 10.85 15.12 1.20 5.69% 477.39 32.61 12.18 4.38 6.65 9.40 27.17 33.0 1.9 1,077.48

    COLONIAL MOTORS COLON MainB M 140.50 (2.29) (4.87) (17.40) 10.64 39.30% 249.16 1,041.82 51.28 130.55 659.81 200.18 97.92 1.4 0.6 1,494.92

    DIMO DIMON MainB M 595.10 0.02 (1.57) (9.90) 8.88 20.94% 863.75 1,605.52 113.23 352.36 427.34 712.59 180.87 3.3 0.7 5,282.37

    LANKA ASHOK ASHON MainB M 1870.00 (1.06) 9.93 3.69 3.62 39.57% 649.34 930.34 24.14 317.09 280.11 309.00 256.94 7.3 2.9 6,770.98

    SATHOSA MOTORS SMOTN MainB M 250.00 8.70 8.70 32.14 6.03 24.73% 106.56 159.01 40.79 37.12 42.31 38.79 26.35 9.5 2.3 1,508.41

    UNITED MOTORS UML N MainB M 97.80 (1.03) 0.52 1.05 67.27 39.71% 97.37 2,600.77 321.10 968.78 688.30 622.59 38.66 2.5 1.0 6,578.72

    OIL PALMS 1.05 3.63 3.68 7.39% 3,877.75 1,001.86 685.30 1,914.06 276.53 27.3 2.0

    BUKIT DARAH BUKIN MainB M 730.00 1.38 6.54 7.34 102.00 10.00% 285.72 2,913.11 832.97 353.77 1,561.69 164.69 28.56 25.6 2.6 74,460.00

    GOOD HOPE GOODN MainB M 1350.00 - - 12.50 6.87 4.27% 794.60 232.89 34.69 72.40 110.09 15.70 33.89 39.8 1.7 9,276.26

    NDO MALAY INDON MainB M 1370.00 0.74 5.38 (3.59) 7.00 3.23% 770.02 174.25 31.80 73.48 41.40 27.58 24.90 55.0 1.8 9,587.81

    SELINSING SELIN MainB M 1000.20 - (9.01) (9.40) 6.94 4.94% 975.01 334.29 63.85 105.66 126.38 38.39 48.17 20.8 1.0 6,941.47

    SHALIMAR SHALN MainB M 804.00 0.45 (10.67) (18.79) 6.94 3.92% 820.73 223.21 38.56 79.99 74.50 30.17 32.16 25.0 1.0 5,579.82

    PLANTATIONS (0.59) (2.88) (1.56) 14.43% 4,100.58 1,429.60 1,039.50 1,209.99 421.50 6.1 0.88

    AGALAWATTE AGALN MainB D 32.50 3.50 - (6.34) 25.00 21.77% 40.16 218.61 160.60 (1.16) 30.87 28.29 8.74 3.7 0.8 812.50

    BALANGODA BALAN MainB D 37.30 (2.86) (1.06) (2.61) 23.64 5.37% 62.32 79.16 (12.17) 73.87 67.25 (49.80) 3.35 11.1 0.6 881.64

    BOGAWANTALAWA BOPLN MainB M 13.00 1.56 0.78 13.04 83.75 1.62% 10.00 13.53 88.90 49.14 (96.44) (28.08) 0.16 80.5 1.3 1,088.75

    HAPUGASTENNE HAPUN MainB D 36.20 (4.99) (5.97) (12.14) 46.32 na 27.15 (80.97) 13.43 52.29 25.75 (172.44) na na 1.3 1,676.63

    Horana Plantations HOPLN MainB M 27.40 4.31 5.98 6.83 25.00 12.78% 42.91 137.06 41.06 11.54 50.79 33.67 5.48 5.0 0.6 685.00

    KAHAWATTE KAHAN MainB D 32.90 (3.52) (6.00) 16.67 79.89 7.83% 13.81 86.34 13.20 29.26 30.96 12.92 1.08 30.4 2.4 2,628.37

    KEGALLE KGALN MainB M 108.60 0.65 4.32 4.12 25.00 21.24% 126.77 673.02 155.61 122.68 246.28 148.46 26.92 4.0 0.9 2,715.00

    KELANI VALLEY KVALN MainB D 85.00 (1.16) 1.07 4.94 34.00 24.09% 70.06 573.79 173.22 128.20 85.57 186.81 16.88 5.0 1.2 2,890.00

    KOTAGALA KOTAN MainB M 56.00 1.81 (25.07) (18.43) 32.00 21.22% 81.87 556.02 107.80 104.76 204.10 139.36 17.38 3.2 0.7 1,792.00

    MADULSIMA MADUN MainB D 13.50 2.27 (10.60) (22.41) 29.00 na 57.02 (4.23) (42.92) 26.51 (57.18) 69.37 na na 0.2 391.50

    MALWATTE VALLEY MAL N MainB D 4.60 (4.17) (8.00) (6.12) 224.59 6.56% 8.65 140.42 94.02 114.84 101.34 (169.78) 0.57 8.1 0.5 1,033.11

    MALWATTE VALLEY MALX MainB D 4.50 (4.26) 2.27 - 23.00 6.56% 8.65 140.42 94.02 114.84 101.34 (169.78) 0.57 7.9 0.5 103.50

    MASKELIYA MASKN MainB M 13.10 (2.96) 0.77 3.15 53.95 16.74% 22.92 207.04 21.51 34.22 165.87 (14.56) 3.84 3.4 0.6 706.79

    NAMUNUKULA NAMUN MainB M 77.00 (1.74) (2.13) (13.83) 23.75 22.24% 73.18 386.43 103.40 72.29 105.01 105.74 16.27 4.7 1.1 1,828.75

    TALAWAKELLE TPL N MainB D 26.00 1.96 (2.26) - 23.75 11.01% 45.26 118.37 35.16 26.62 6.81 49.77 4.98 5.2 0.6 617.50

    UDAPUSSELLAWA UDPLN DiriSaviB D 28.60 - 2.88 (7.44) 19.40 na 15.97 (21.82) 0.70 37.14 16.60 (76.26) na na 1.8 554.81

    WATAWALA PLANTATIONS WATAN MainB M 12.10 (0.82) 1.68 (0.82) 236.67 24.87% 13.07 769.28 186.23 157.32 267.69 158.03 3.25 3.7 0.9 2,863.67

    ELPITIYA ELPLN DiriSaviB M 18.60 3.33 3.33 (1.59) 72.87 14.59% 22.38 237.94 197.00 40.94 3.27 5.7 0.8 1,355.32

    MET.RES.HOL MPRHN DiriSaviB M 25.20 7.69 8.62 17.76 17.26 1.73% 35.53 10.61 92.84 (82.23) 0.61 41.0 0.7 435.07

    HEALTH SERVICES 0.67 0.41 2.15 11.97% 2,349.78 510.06 577.66 400.01 862.05 16.9 2.02

    ASIRI CENTRAL ASHAN DiriSaviB M 240.00 4.35 (3.26) 9.09 22.33 na 88.10 (112.22) (38.10) (74.11) na na 2.7 5,360.15

    ASIRI SURGICAL AMSLN MainB M 9.00 - (2.17) - 528.46 16.56% 7.43 650.23 104.26 110.65 111.95 323.37 1.23 7.3 1.2 4,756.12

    ASIRI HOSPITAL ASIRN MainB M 12.30 - 5.13 7.89 1,099.09 11.39% 3.92 490.03 112.21 176.23 84.55 117.03 0.45 27.6 3.1 13,518.84

    CEYLON HOSPITALS [V] CHL N MainB M 101.00 6.32 6.20 1.00 25.53 11.49% 72.7 286.84 49.92 80.08 102.55 54.29 8.47 11.9 1.4 2,578.25

    CEYLON HOSPITALS [NV] CHL X MainB M 72.00 (0.14) 1.41 (0.69) 8.35 11.49% 72.7 286.84 49.92 80.08 102.55 54.29 8.47 8.5 1.0 600.87

    LANKA HOSPITALS LHCLN MainB M 38.00 0.26 (2.56) (4.04) 223.73 13.69% 15.72 481.52 94.57 112.65 84.46 189.84 2.15 17.7 2.4 8,501.82

    NAWALOKA NHL N MainB M 3.10 (3.23) (3.23) (6.25) 1,409.51 16.18% 2.43 553.38 187.20 98.04 90.62 177.51 0.39 7.9 1.3 4,369.47

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    Sri Lanka Focus 15th

    February 2013 ASIA RESEARCH TEAM 22

    Broad MarketCompany Year Price Performance Shares Trailing BVPS Net Profit Net Profits Trailing Trailing PBV Mkt Cap Mn

    End 1W(%) 1M(%) 1Q(%) Mn ROE 4Qtrs Sep'12 Jun'12 Mar'12 Dec'11 EPS PE

    SERVICES (0.93) (0.76) (11.82) 26.54% 868.59 85.64 26.82 699.10 57.03 7.72 2.05

    JOHN KEELLS LIMITED JKL N MainB M 66.90 (0.15) 9.49 1.98 60.80 34.20% 41.29 858.59 78.67 55.55 663.49 60.88 14.12 4.7 1.6 4,067.52

    LAKE HOUSE PRINTING LPRTN MainB M 104.00 8.90 (0.95) 22.35 2.94 9.86% 49.99 14.48 3.84 4.40 2.23 4.01 4.93 21.1 2.1 305.47

    MERC. SHIPPINGS MSL N MainB M 183.70 (0.54) (6.75) 0.93 2.84 na 69.07 (99.16) (39.85) (49.20) 1.80 (11.92) na na 2.7 522.62

    CEYLON PRINTERS CPRTN MainB M 1280.00 (17.42) (36.00) (33.91) 0.04 na 271.92 (1.20) (1.05) 1.27 (4.56) 3.14 na na 4.7 44.81

    KALAMAZOO KZOON MainB M 2165.00 - (1.69) (9.79) 0.05 1.63% 663.80 0.54 1.20 0.68 (1.97) 0.63 10.80 200.5 3.3 108.25

    PARAGON PARAN MainB M 900.80 (3.21) (17.41) (43.35) 0.10 na 62.58 (0.56) 0.12 0.13 (1.10) 0.29 na na 14.4 90.11

    CEYLON TEA BROKERS CTBLN DiriSaviB M 5.30 1.92 (8.62) (14.52) 114.00 19.34% 1.81 39.96 8.50 13.99 17.47 0.35 15.1 2.9 604.20

    ASIA SIYAKA COMMODITIES ASIYN DiriSaviB M 3.70 (7.50) (21.28) (46.38) 260.00 34.25% 0.63 55.95 34.21 21.74 0.22 17.2 5.9 962.00

    STORES AND SUPPLIES (1.13) (1.60) (15.30) 8.54% 485.64 54.70 (58.55) 228.86 260.64 10.91 0.93

    COLOMBO PHARMACY PHARN MainB M 500.00 (2.17) (5.70) (12.36) 1.27 11.52% 713.42 104.62 20.02 (3.33) 90.70 (2.77) 82.20 6.1 0.7 636.43

    E B CREASY EBCRN MainB M 1000.00 - (1.25) (17.01) 2.54 13.45% 953.56 325.07 30.70 (34.00) 118.37 210.00 128.21 7.8 1.0 2,535.46

    GESTETNER GESTN MainB M 210.00 (1.14) (9.17) (16.67) 2.28 29.32% 33.77 22.56 2.04 1.04 2.65 16.84 9.90 21.2 6.2 478.41

    HUNTERS HUNTN MainB M 320.00 (2.44) 1.91 (13.28) 5.15 1.46% 444.31 33.38 1.94 (22.26) 17.14 36.56 6.49 49.3 0.7 1,646.40

    TRADING (2.29) (0.72) (3.74) 8.66% 2,734.33 294.12 300.32 1,503.59 636.30 11.86 1.03

    BROWNS BRWNN MainB M 121.00 (0.41) (0.73) (4.88) 70.88 6.27% 202.00 898.02 190.84 (219.96) 752.25 174.89 12.67 9.5 0.6 8,575.88

    C W MACKIE CWMN MainB D 66.30 (1.04) (12.19) (10.16) 35.99 17.36% 47.69 297.92 11.59 85.92 106.85 93.56 8.28 8.0 1.4 2,386.04

    CEYLON FOREIGN TRADES CFT N MainB M 5.80 - (3.33) (7.94) 140.20 0.27% 6.24 2.39 6.83 (3.25) (4.40) 3.21 0.02 339.7 0.9 813.14

    EASTERN MERCHANTS EMERN DefaultB M 10.40 0.97 (8.77) (7.96) 117.45 5.54% 9.54 62.06 (16.69) 39.55 67.80 (28.60) 0.53 19.7 1.1 1,221.44

    ENVIRONMENTAL RESOURCES GREGN MainB M 17.40 (1.69) 12.26 5.45 349.37 2.39% 23.96 200.07 (80.65) 83.85 243.26 (46.39) 0.57 30.4 0.7 6,078.99

    RADIANT GEMS RGEMN MainB M 58.00 (1.53) (3.33) (17.26) 2.40 na 10.62 (2.20) (0.06) 0.34 (1.51) (0.97) na na 5.5 139.20

    SINGER SRI LANKA SINSN MainB D 100.10 (4.11) 3.30 (0.20) 125.21 26.38% 38.56 1,273.69 194.17 310.05 337.87 431.60 10.17 9.8 2.6 12,533.48

    OFFICE EQUIPMENT OFEQN MainB M 2850.00 (5.00) (5.00) (16.18) 0.08 13.08% 467.91 5.10 (2.77) 3.81 (4.93) 8.99 61.18 46.6 6.1 237.56

    TESS AGRO TESSN DiriSaviB M 2.40 (4.17) (8.00) (8.00) 180.00 na 1.67 (2.74) (9.14) 6.40 na na 1.4 432.00

    POWER & ENERGY (0.39) (0.50) 3.56 13.86% 3,573.26 1,842.14 299.56 583.76 850.93 9.28 1.29

    HEMAS POWER HPWRN MainB M 22.00 (4.35) (9.09) 4.76 125.20 8.01% 22.21 222.81 81.00 39.33 24.17 81.45 1.78 12.4 1.0 2,754.40

    LANKA IOC LIOCN MainB M 21.00 5.00 6.60 9.95 532.53 17.74% 21.58 2,039.19 1,183.00 191.86 41.24 623.09 3.83 5.5 1.0 11,183.13

    VIDULLANKA VLL N MainB M 3.70 - (2.63) 2.78 477.27 3.17% 2.28 34.42 6.13 8.40 (27.63) 47.52 0.07 51.3 1.6 1,765.90

    VALLIBEL POWER VPELN MainB M 6.20 (3.13) (4.62) (4.62) 747.11 371.84% 0.08 208.43 112.97 56.05 (15.61) 55.01 0.28 22.2 82.6 4,632.08

    LAUGFS GAS LGL N DiriSaviB M 26.00 (2.62) - 3.17 335.00 15.46% 16.16 966.66 427.45 539.21 2.50 10.4 1.6 8,710.00

    LAUGFS GAS [NV] LGL X DiriSaviB M 18.90 2.17 - 7.43 52.00 15.46% 16.16 966.66 427.45 539.21 2.50 7.6 1.2 982.80

    HYDRO POWER HPFLN MainB M 6.20 (13.04) (13.04) (20.00) 109.09 na 7.14 (31.25) (1.80) (7.68) (25.85) 4.08 na na 0.9 676.35

    PANASIAN POWER PAP N MainB M 2.70 - (10.00) 8.00 500.00 8.22% 1.47 60.60 2.09 11.60 7.13 39.78 0.12 22.3 1.8 1,350.00

    MACKWOODS ENERGY LIMITED MEL N DiriSaviB M 11.00 (4.35) (5.17) (5.17) 100.00 10.96% 6.60 72.40 31.30 41.10 0.72 15.2 1.7 1,100.00

    NFORMATION TECHNOLOGY 0.62 2.81 (2.80) 1.89% 27.61 (2.35) 1.79 (25.82) 53.99 74 1.39

    E-CHANNELLING ECL N DiriSaviB M 7.30 1.39 19.67 23.73 122.13 4.55% 1.10 6.10 2.87 3.23 0.05 146.1 6.6 891.56

    PC HOUSE PCH N MainB M 5.00 - (7.55) (16.95) 228.93 1.62% 5.79 21.51 (5.22) 1.79 (29.05) 53.99 0.09 53.2 0.9 1,144.67

    TELECOMMUNICATIONS 1.18 4.27 7.73 12.11% 11,048.50 6,545.20 1,965.01 (165.91) 2,704.20 14.03 1.70

    DIALOG TELEKOM DIALN MainB D 9.50 4.40 14.46 15.85 8,143.78 19.03% 4.45 6,900.50 4,744.20 1,269.01 (530.91) 1,418.20 0.85 11.2 2.1 77,365.89

    SRI LANKA TELECOM SLTLN MainB D 43.00 (1.83) (4.23) 0.70 1,804.86 7.55% 30.45 4,148.00 1,801.00 696.00 365.00 1,286.00 2.30 18.7 1.4 77,608.98

    Note:

    Counters which are listed on Dirisavi board will reflect 6 months results under

    the quarters.

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    ResearchManager - Research Assistant Manager - Research

    Balakrishnan Nirmalan (94-11)5320362 AmaliPerera (94-11)5320256

    [email protected] [email protected]

    Corporates EconomyMinoli Mallawaarachchi (94-11)5320259 DhanushaPathirana (94-11)5320254

    Shan Silva (94-11)5320251 Travis Gomez (94-11)5320254

    Yogini Yogarasa (94-11)5320361

    Statistician

    Nuwan Pradeep (94-11)5320257

    SalesInstitutional Sales Retail SalesSabriMarikar (94-11) 5320224 077 3-576868 [email protected] ShiyamSubaulla (94-11)5320218 0773-502016 [email protected]

    NiroshanWijayakoon (94-11) 5320208 0777-713645 [email protected] PriyanthaHingurage (94-11)5320217 0773-502015 [email protected]

    NiyazAboobucker (94-11) 5320213 0777-727352 [email protected] SubeethPerera (94-11)5320227 0714-042683 [email protected]

    ManjulaKumarasinghe (94-11) 5320211 0777 -874310 [email protected] NelukaRodrigo (94-11)5320214 0777-366280 [email protected]

    ChelakaHapugoda (94-11)5320240 0777 -256740 [email protected] GaganiJayawardhana (94-11)5320236 0714-084953 [email protected]

    ChamindaMahanama (94-11) 5320223 0777 -556582 [email protected] ShamalPerera (94-11)5320219 077-3717558 [email protected]

    HiranBibile (94-11) 5320238 0777 -352032 [email protected] NuwanEranga (94-11)5320246 0777368012 [email protected]

    ArshwinAmarasekara (94-11) 5320215 0773 -717220 [email protected] RomeshPriyadarshana (94-11)5320228 0772548795 [email protected] (94-11) 5320242 0773 -717515 [email protected] RukshanLiyanage (94-11)5320235 077-3413297 [email protected]

    JeevanHettigoda (94-11) 5320220 0773 -691251 [email protected] NathashaMunasinghe (94-11)5320231 0777-569266 [email protected]

    FarajFouz (94-11) 5320210 0773 -810159 [email protected] IreshaFernando (94-11)5320232 0777359012 [email protected]

    MiflalFarook (94-11) 5320247 0772-253730 [email protected] SharikaRathnayake (94-11)5320209 0777567994 [email protected]

    BranchesCSE Floor CSE,01-04, World Trade Centre, Colombo 1. ThusharaAdhikari (011)-5735122 0773-688202 [email protected]

    M G Suranjana (011)-5763539 0773-954994

    Kurunegala Union Assurance Building, No.6,1stFloor,Rajapilla Rd, Kurunagala. AsankaSamarakoon (037)-5628844 0773-690749 [email protected]

    GayanNishsanka (037)-5642717 0777-105356 [email protected]

    Matara E.H.Cooray Building, Mezzanine Floor, No:24, AnagarikaDarmapala Mw, SumedaJayawardena (041)-5677525 0773-687307 [email protected]

    Matara LalindaLiyanapathirana (041)-5677526 0778-628798 [email protected]

    MaheshaMadurangi (041)-5620727 [email protected] Peoples Leasing Building,2nd Floor,No.118,Matara Road,Galle RuchiraHasantha (091)-5629998 0773-687027 [email protected]

    Negombo Asia Asset Finance, 171/1, Station Road, Negombo. UthpalaKarunatilake (031)-5676881 0773-691685 [email protected]

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

    CharithPerera (011)-5238663 [email protected]

    Panadura Asian Alliance Building, 293, Galle Road, Panadura RanganathWijetunga (038)-5670400 0715-120723 [email protected]

    AsankaChaminda (038)-5670407 0713-559552 [email protected]

    Kandy 132 2/7, Hill City Complex,

    D. S . Senanayake Street, Kandy.

    NilupulHettiarachchi (081)-5628500 0777410164 [email protected]

    RadhikaHettiarachchi (081)-5625577 0773692242 [email protected]

    TharinduPriyankara (081)-5625577 0777282586 [email protected]

    Ampara Bandula Cinema Shopping complex, No-103,D S Senanayaka Street, Ampara. Ravi De Mel (063)-5679071 0772-681995 [email protected]

    NalakaDhanushka (063)-5679070 0771-520376 [email protected]

    Service Centers

    Kiribathgoda Level 2-6,Udeshi City Shopping complex, No 94,Makola Rd,Kiribathgoda DanushkaBoteju (011)-5634803 0716-270527 [email protected]

    Kasun Navoda

    Hambantota Hambanthota Chamber of Commerce, ThangalleRoad,Hambantota. SherminRanasinghe (047)-5679240 0777681866 [email protected]

    SamithEdirisinghe 0775-486869 [email protected]

    Jaffna 62/20, First Floor, Stanley Road, Jaffna GratianNirmalan (021)-5671800 0777-567933 [email protected]

    S.Puviraj (021)-5671801 0775-096969 [email protected]

    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 goo

    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 ch

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