Sri Lanka needs to regain lost status

Dr. Nalaka Godahewa

Chairman of the Securities and Exchange Commission of Sri Lanka (SEC) Dr. Nalaka Godahewa last week highlighted on the need for Sri Lanka to regain the lost ‘MSCI emerging market status’ if the country is to attract large scale foreign funds. Outlining that increasing market liquidity would be a critical requirement to support growth, the Chairman noted that out of the 288 listed companies the island currently had, 140 or almost 50% did not have a public float of even 25% whilst at the same time some of the largest listed companies also had very little public float.
 

Access Engineering to explore overseas options

The management of Access Engineering PLC (AEL), one of Sri Lanka’s leading construction companies says they are keen on expanding operations beyond the shores of Sri Lanka though Sri Lanka will remain its nucleus.
“The steppingstone in this expansion strategy was laid when we secured our first overseas project in Papua New Guinea for Environment Monitoring in the Port Lae Development Project. At present, the Company is also seeking business opportunities in the African Continent and we are confident that the strong relationships we have with our international business partners will help us achieve our ambitions,” AEL Managing Director, Christopher Joshua and AEL Executive Director/ COO, Rohana Fernando said in a joint message issued at the release of the firm’s Annual Report 2012/13.