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 from Asia Securities

Ceylon Cold Stores: 2Q FY23 - Higher demand and lower costs to support 2H results

Normalising footfall offset by improving volumes, supporting Retail revenues. Price growth to taper down; volumes to drive Manufacturing revenues in 2H. Lower cost base and higher prices to support margin expansion in 2H.
Asia Securities Naveed
Naveed Majeed @ Asia Securities 5 December 2022

Nestle Lanka: 3Q CY22 - Poised to benefit from a recovery in consumption

Price increases to ease; volume recovery to drive revenues in CY23E. EBIT margins to remain above historic levels as opex normalises in CY23E. Higher interest costs in CY23E partly offset by increased interest income.
Asia Securities Naveed
Naveed Majeed @ Asia Securities 18 November 2022

Sri Lanka: Macro Roundup - October 2022

Government tax proposals to support IMF discussions; negative impact on consumer spending power. Mobility levels remain steady during the month; Manufacturing, Services PMIs show mixed results. Inverted yield curve indicates higher short-term risk; y...
Asia Securities Lakshini
Lakshini Fernando @ Asia Securities 31 October 2022
Flash Report / Sri Lanka

Sri Lanka: Tax Proposals – October 2022

Revenue base expanded; expenditure proposals remain a key priority. Personal income tax changes further widen tax net and burden on higher income earners. Corporate tax revisions and affected counters; export counters to see least impact.
Asia Securities Naveed
Naveed Majeed @ Asia Securities 12 October 2022

Sri Lanka: Monetary Policy Review October 2022 – Key policy rates on hold

CB maintains rates; FX liquidity in the banking system continues to improve. Inflation to gradually ease as supply side pressure improves. Reserves at USD 1.8bn in September including USD 1.4bn swap; we factor in an IMF EFF in January 2023.
Asia Securities Lakshini
Lakshini Fernando @ Asia Securities 6 October 2022

Sri Lanka: Macro Roundup - September 2022

CBSL commences creditor discussions; IMF Board agreement a crucial factor. GDP: 2Q reflects impact from multiple headwinds; 2H 2022 to improve faster than our initial expectations. Mobility remains consistent on the back of continuous fuel supply.
Asia Securities Lakshini
Lakshini Fernando @ Asia Securities 30 September 2022