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

Sri Lanka: Economy contracts in 1Q; 2Q and 3Q ‘22 to face further pressure

Data released by the Department of Census and Statistics shows that the Sri Lankan economy contracted 1.6% YoY in 1Q 2022, following the 2.0% YoY growth recorded in 4Q 2021. Meanwhile, the Agri sector recorded a sharp decline owing to the fertiliser ...
Asia Securities Lakshini
Lakshini Fernando @ Asia Securities 29 June 2022

Sri Lanka: Focus on fiscal plans at IMF talks; China’s stance on debt key

The IMF team have completed a week in Sri Lanka, with discussions ongoing until the 30th of June. We also note that curbing recurrent expenditure either through interest expenses or state sector salaries/pensions would also be a focus point to reachi...
Asia Securities Lakshini
Lakshini Fernando @ Asia Securities 27 June 2022

Sri Lanka: Usable reserves at US$50mn; US$1bn/month required for essentials

Sri Lanka’s official reserves reached USD 1.9bn in May (+6.0% MoM, -52.4% YoY). Official reserves continue to cover less than a month of imports. While our discussions indicate that the Central Bank is seeking a USD 1.5bn funding line from India, we ...
Asia Securities Lakshini
Lakshini Fernando @ Asia Securities 8 June 2022

Sri Lanka: Macro Roundup - May 2022

Economic and political uncertainty remained elevated during the month. With our expectation of an electricity price hike combined with a worse-than-expected impact in the Yala season on the Agri sector, we revise our inflation forecast to 30.0% - 35....
Asia Securities Lakshini
Lakshini Fernando @ Asia Securities 31 May 2022

Sri Lanka: Monetary Policy Review May 2022 – Rates remain unchanged

At the second Monetary Policy meeting under the newly appointed Governor, Dr. Nandalal Weerasinghe, the Central Bank (CB) maintained key policy rates unchanged, in-line with our view. Notably, CB holdings of government securities remained high, at LK...
Asia Securities Lakshini
Lakshini Fernando @ Asia Securities 19 May 2022

Sri Lanka: Macro Roundup - April 2022

In one of the most volatile months seen in recent history, economic and political stability was tested in April ‘22. Meanwhile inflationary pressure continued, with headline inflation reaching 29.8% YoY in April as fuel prices increased over 130%. Th...
Asia Securities Lakshini
Lakshini Fernando @ Asia Securities 4 May 2022