Asia Securities
Asia Securities

Asia Securities

Coverage: Sri Lanka
A leading investment firm in Sri Lanka providing investment banking, research, equities and wealth management services.
Location: Colombo

Latest articles from Asia Securities

Flash Report / Global

Sri Lanka: IMF SDR Allocation; What It Means and Its USD 800mn Benefit

The IMF Executive Board approved the allocation of USD 650bn worth of Special Drawing Rights (SDR) last week, to help economies faced with difficulties amidst COVID-19. Sri Lanka’s foreign reserves position should benefit from this through the countr...
Asia Securities Lakshini
Lakshini Fernando @ Asia Securities 12 July 2021

Sri Lanka: 1Q 2021 GDP - 1Q reflects expected recovery momentum for 2H 2021

Data released by the Department of Census and Statistics shows that the Sri Lankan economy rebounded strongly in 1Q 2021, as reflected in leading indicators during the quarter. Looking ahead, we expect this trend to improve albeit gradually in 2H 202...
Asia Securities Lakshini
Lakshini Fernando @ Asia Securities 12 July 2021

Sri Lanka: Monetary Policy Review July 2021 - Rates remain unchanged

In-line with our expectations, the Central Bank (CB) maintained key policy rates at the current level, following its monetary policy meeting yesterday. This came amidst the CB reiterating its stance of maintaining a low stable interest rate environme...
Asia Securities Lakshini
Lakshini Fernando @ Asia Securities 8 July 2021

Sri Lanka: Fiscal pressure heightens; external repayments decline

The fiscal deficit for 4M CY21 amounted to LKR 520bn, approx. 3.1% of GDP (compared with 3.0% of GDP for 4M CY20), up 15.1% YoY for the period. Government revenue was approx. 6.1% of GDP (compared with 6.2% of GDP for 4M 2020). As such, government ex...
Asia Securities Lakshini
Lakshini Fernando @ Asia Securities 4 July 2021

Cargills (Ceylon): 4Q FY21 - 1Q FY22E a blip; poised for recovery in FY22E

We maintain our sum-of-the-parts (SOTP) valuation-based target price at LKR 325/share. Revenues came in at LKR 30.0bn for the quarter, down 2.2% QoQ (+6.6% YoY). Looking ahead, we expect strong revenue growth in FY22E supported by 1) a normalising co...
Asia Securities Naveed
Naveed Majeed @ Asia Securities 16 June 2021

Hemas Holdings: 4Q FY21 - Poised to deliver in FY22E; Atlas recovery will be key

We maintain our sum-of-the-parts (SOTP) valuation-based target price for HHL at LKR 140.00/share. In FY22E, we expect the local pharma distribution and FMCG business to drive earnings, albeit with some impact on margins due to FX depreciation. Segmen...
Asia Securities Naveed
Naveed Majeed @ Asia Securities 14 June 2021