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Weekly Review by Asia Securities Research

Volume 07

13 February 2014

In This Issue;

ASI Daily Closing

Continuous foreign selling on blue chips drags down
the market….
Sri Lankan stocks extended its bearish momentum during the
week along with foreign selling bringing the week’s cumulative
net foreign out flow………
Pg 02

Colombo Bourse’s Billion Rupee Club

Analysis of Various Warrants Listed on CSE

Pg 04

Commodity Prices

Pg05

Major
Price
Movements
Foreign
selloff
creating buying opportunity to locals...
Trading activity in the Colombo Bourse during the week was
marked by two distinct trends bearing major influence over
activity……………………………………………
Pg07

3,500

6,250

3,000

6,200

2,500

6,150

2,000

6,100

1,500

6,050

1,000

6,000

500
0

24- 27- 28- 29- 30- 31- 3- 5- 6- 7- 10- 11- 12- 13Jan Jan Jan Jan Jan Jan Feb Feb Feb Feb Feb Feb Feb Feb
Turnover

ASI closing

Market Statistics
All Share Index
S&P
Banking & Finance
Food & Beverage
Diversified
Hotels & Travels
Telecommunication
Manufacturing
Market Capitalisation (LKR bn)
(USD bn)
Turnover
(LKR mn)
(USD mn)
Average Daily Turnover (LKR mn)
Volume
(mn shares)
Foreign Purchases
(LKR mn)
Foreign Sales
(LKR mn)

13-Feb
6,083.39
3,325.76
13,498.86
21,220.65
1,762.33
3,177.63
169.56
2,954.31
2,539.50
19.43
4,519.60
34.57
1,129.90
240.80
900.45
1,978.68

07-Feb
6,141.72
3,369.30
13,669.54
21,332.95
1,802.40
3,200.73
162.50
3,024.78
2,563.90
19.61
7,302.60
55.85
1,825.70
296.00
1,307.59
4,400.78

% Chg.
-0.9
-1.3
-1.2
-0.5
-2.2
-0.7
4.3
-2.3
-1.0
-0.9
-38.1
-38.1
-38.1
-18.6
-31.1
-55.0

Large Trades

Major Price Movements
PC Pharma

(LKR mn)
4,000

5,950

Table below shows the members who have qualified to be a
part of ‘Asia Securities Research’s Billion Rupee Club’.
Pg 03

Company
Bimputh Lanka Investments

(ASI)
6,300

Price
41.7

+/-LKR
6.7

+/- %
19.1

Company
Asia Asset Finance

Volume
77,765,487
33,940,913

1.3

0.2

18.2

Dialog Axiata

Kuruwita Textiles

21.7

3.3

17.9

Vidulanka

9,744,814

Chemanex

82.9

9.9

13.6

Orient Garments

8,710,353

Sri Lanka Telecom

42.5

4

10.4

John Keells Holdings

8,589,631

Infrastructure Developers

89.5

-30

-25.1

SMB Leasing Plc(X)

8,447,408

Printcare

28

-5.8

-17.2

SMB Leasing Plc

5,462,530

PC House

0.5

-0.1

-16.7

Expolanka Holdings

4,910,287

Blue Diamonds (X)

1.1

-0.2

-15.4

Piramal Glass

4,365,662

Sierra Cables

1.7

-0.3

-15.0

Free Lanka Capital Holdings

3,974,886

Weekly Review by Asia SecuritiesResearch

13 February 2014

Continuous foreign selling on blue chips drags down the market….
Sri Lankan stocks extended its bearish momentum during the week along with foreign selling bringing the week’s
cumulative net foreign out flow to c.LKR1.1bn . The ASI lost 58.3 points WoW to close at 6,083.4 points (-0.9%), whilst
the S&P SL20 Index lost 43.5 points WoW to close at 3,325.8 points (-1.3%). Indices dipped mainly on the back of losses
made by John Keells Holdings (-3.3% WoW), Commercial Bank of Ceylon (-3.3% WoW), Dialog Axiata (-2.1%
WoW), DFCC Bank (-2.7% WoW) and Bukit Darah (-1.6% WoW)
Colombo bourse was predominately on a downward momentum, whilst few long-standing foreign funds such as Janus
Overseas, Franklin Templeton, Morgan Stanley etc. continued to partially sell their holdings in few blue-chip counters
brining the YTD net out flow to over LKR 3.3bn, whilst few local institutions and high net worth individuals were on the
buying side. However, as a result of these large-scale transactions daily turnovers and volumes were given a boost resulting
in week’s average daily turnover and volumes to be c. LKR 1.13bn and 60.2mn respectively.
Conglomerate John Keells Holdings that emerged as the highest turnover contributor during the week witnessed foreign
selling during the week when long standing Janus Fund sold few blocks from its previous intakes, which was bought buy
few high profile local investors. The counter accounted for c. 42.5% of the week’s total turnover tally with a contribution of
LKR 1.92bn. Dialog Axiata that recorded the second highest turnover also witnessed a crossing where 19mn shares
changed hands at LKR9.20, where foreigners were the selling party. In addition, Commercial Bank witnessed a few
crossings over the week where foreign investors were on the selling side.
In addition, amongst the other counters that witnessed few crossings over the week were, Textured Jersey, Orient
Garments, Asia Asset Finance, Lanka IOC, Distilleries Company, Sampath Bank, Hatton National Bank, Vallibel
One and Vidulanka.
Highest volumes recorded during the week were Asia Asset Finance emerged as the highest volume traded counter for the
week with a cumulative share volume of c. 77.8mn shares followed by Dialog Axiata, Vidulanka, Orient Garments. In
addition, most of the corporates by except for banking counters have released their 3 rd quarter financials, which has shown
mixed results. Meanwhile, Hayleys Plc subsidiary Alumex Ltd, announced the CSE of its LKR 839.0mn IPO which is the
second IPO for the year 2014 where 59.9mn ordinary voting shares at LKR 14.0 will be issued. The issue will comprise of
two tranches where c.17.9mn shares will be in the form of an offer for subscription and c.42.0mn shares in the form of an
offer for sale. The date of opening of the subscription would be on the 6th of March 2014.
The week saw foreign purchases amounting to LKR 900.5mn whilst foreign sales amounted to LKR1,978.7mn. Market
capitalisation stood at LKR 2,539.5bn and the YTD performance is 2.9%.

A member of Asia Capital Group

2

Weekly Review by Asia Securities Research

13 February 2014

Colombo Bourse’s Billion Rupee Club
Table below shows the members who have qualified to be a part of ‘Asia Securities Research’s 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.
Company

Code

Price

ROE

BVPS

JOHN KEELLS HOLDINGS
COMMERCIAL BANK [V]
COMMERCIAL BANK [NV]
NDB
HNB [V]
HNB [NV]
CEYLON TOBACCO
NDB CAPITAL
DISTILLERIES
DIALOG TELEKOM
SRI LANKA TELECOM
LANKA IOC
SAMPATH BANK
OVERSEAS REALTY
NESTLE LANKA
DFCC BANK
AITKEN SPENCE
CENTRAL FINANCE
PEOPLE’S LEASING
CARSON CUMBERBATCH
ACCESS ENGINEERING LIMITED
CHEVRON LUBRICANTS
ASIAN HOTEL & PROPERTIES
TAPROBANE HOLDINGS
BUKIT DARAH
HAYLEYS
CEYLINCO INSURANCE [V]
CEYLINCO INSURANCE [NV]
NATIONS TRUST BANK
SEYLAN BANK [V]
SEYLAN BANK [NV]
AIT. SPENCE HOTEL HOLD.
HEMAS HOLDINGS
CEYLON GUARDIAN
TOKYO CEMENT [V]
TOKYO CEMENT [NV]
LOLC
CEYLON COLD STORES
UNITED MOTORS
ASIRI SURGICAL
LAUGFS GAS
LAUGFS GAS [NV]
LB FINANCE
C T HOLDINGS
RICHARD PIERIS
DIPPED PRODUCTS
TEXTURED JERSEY
CEYLON INVESTMENT
EXPOLANKA HOLDINGS
JOHN KEELLS HOTELS
ROYAL CERAMICS
CEYLON TEA SERVICES
COLOMBO DOCKYARD
VALLIBEL ONE LIMITED

JKH N
COMBN
COMBX
NDB N
HNB N
HNB X
CTC N
CDICN
DISTN
DIALN
SLTLN
LIOCN
SAMPN
OSEAN
NESTN
DFCCN
SPENN
CFINN
PLC N
CARSN
AEL N
LLUBN
AHPLN
TAP N
BUKIN
HAYLN
CINSN
CINSX
NTB N
SEYBN
SEYBX
AHUNN
HHL N
GUARN
TKYON
TKYOX
LOLCN
CCS N
UML N
AMSLN
LGL N
LGL X
LFINN
CTHRN
RICHN
DIPDN
TJL N
CINVN
EXPON
KHL N
RCL N
CTEAN
DOCKN
VONEN

222.00
118.00
96.50
183.50
156.00
121.00
1250.00
500.00
215.00
9.20
42.50
39.20
167.00
20.00
2,100.00
146.00
102.50
191.00
14.70
350.00
22.80
280.50
62.00
2.90
600.00
295.00
1326.00
418.00
66.00
64.90
33.50
72.00
38.00
175.00
34.70
28.50
75.00
155.30
125.00
11.70
33.00
23.80
99.00
142.00
6.50
88.10
15.30
77.00
8.80
12.70
88.00
680.00
186.00
17.00

12.64%
16.61%
16.61%
36.33%
16.02%
16.02%
188.46%
131.89%
11.17%
12.96%
8.37%
28.50%
13.45%
16.56%
102.35%
8.63%
10.83%
16.79%
15.88%
9.90%
20.69%
47.00%
11.62%
76.51%
5.62%
9.32%
14.53%
14.53%
18.31%
9.54%
9.54%
14.73%
14.94%
13.86%
23.23%
23.23%
8.56%
19.78%
22.34%
48.30%
21.89%
21.88%
26.48%
8.42%
16.97%
17.75%
19.37%
14.84%
12.07%
6.62%
13.02%
13.35%
10.30%
3.40%

94.05
68.61
68.61
150.32
139.40
139.40
24.37
164.67
166.42
4.74
31.51
28.79
171.96
27.69
64.68
140.31
70.97
174.32
11.98
153.65
13.45
44.56
48.19
2.91
381.36
307.66
543.79
543.79
48.60
60.29
60.29
39.50
24.94
166.41
24.25
24.25
44.65
95.67
117.37
6.80
17.52
17.52
77.81
91.25
4.12
119.61
9.39
81.47
4.84
11.52
76.53
412.83
145.80
27.97

ROE: Trailing 4 quarters return on equity
BVPS: Most recent quarter book value per share
Net Profit: Trailing 4 quarters net profit

11,776.24
9,675.97
9,675.97
8,993.80
8,930.60
8,930.60
8,603.00
7,146.29
5,577.10
5,006.98
4,758.00
4,368.90
3,880.59
3,869.43
3,556.70
3,209.64
3,121.47
3,068.87
3,007.00
2,987.72
2,782.14
2,513.19
2,479.66
2,234.19
2,187.74
2,150.45
2,086.78
2,086.78
2,051.95
1,983.56
1,983.56
1,956.39
1,919.75
1,893.48
1,882.20
1,882.20
1,815.80
1,798.63
1,763.71
1,734.76
1,484.25
1,483.92
1,426.80
1,406.55
1,368.81
1,270.67
1,191.50
1,190.67
1,142.96
1,110.38
1,103.57
1,102.46
1,078.67
1,032.71

Trailing
EPS
11.89
11.39
11.39
54.61
22.34
22.34
45.93
217.18
18.59
0.61
2.64
8.20
23.13
4.59
66.20
12.11
7.69
29.26
1.90
15.21
2.78
20.94
5.60
2.23
21.45
28.67
79.00
79.00
8.90
5.75
5.75
5.82
3.73
23.06
5.63
5.63
3.82
18.93
26.22
3.28
3.84
3.83
20.60
7.68
0.70
21.23
1.82
12.09
0.58
0.76
9.96
55.12
15.01
0.95

Trailing PE
18.7
10.4
8.5
3.4
7.0
5.4
27.2
2.3
11.6
15.0
16.1
4.8
7.2
4.4
31.7
12.1
13.3
6.5
7.7
23.0
8.2
13.4
11.1
1.3
28.0
10.3
16.8
5.3
7.4
11.3
5.8
12.4
10.2
7.6
6.2
5.1
19.6
8.2
4.8
3.6
8.6
6.2
4.8
18.5
9.3
4.2
8.4
6.4
15.1
16.7
8.8
12.3
12.4
17.9

PBV
2.4
1.7
1.4
1.2
1.1
0.9
51.3
3.0
1.3
1.9
1.3
1.4
1.0
0.7
32.5
1.0
1.4
1.1
1.2
2.3
1.7
6.3
1.3
1.0
1.6
1.0
2.4
0.8
1.4
1.1
0.6
1.8
1.5
1.1
1.4
1.2
1.7
1.6
1.1
1.7
1.9
1.4
1.3
1.6
1.6
0.7
1.6
0.9
1.8
1.1
1.1
1.6
1.3
0.6

Trailing EPS: Trailing 4 quarters earnings per share
Trailing PE: Trailing 4 quarters price to earnings ratio
PBV: Price to book ratio based on most recent quarter book value

3
A member of Asia Capital Group

Net Profit

Mkt Cap Mn
219,829.93
93,765.28
5,263.42
30,221.17
49,847.36
9,716.28
234,154.69
16,452.47
64,500.00
74,922.76
76,706.55
20,875.17
28,023.17
16,869.69
112,823.47
38,704.26
41,614.59
20,032.72
23,223.98
68,735.42
22,800.00
33,660.00
27,452.07
2,907.90
61,200.00
22,125.00
26,520.00
2,681.25
15,220.08
11,420.93
5,660.93
24,212.88
19,581.04
14,366.93
7,729.43
3,174.19
35,640.00
14,759.71
8,408.39
6,182.95
11,055.00
1,237.60
6,856.46
25,999.81
12,727.57
5,273.80
10,021.54
7,585.65
17,203.25
18,493.06
9,749.47
13,600.00
13,365.76
18,471.51

Weekly Review by Asia Securities Research

13 February 2014

Analysis of 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 further appreciate.
(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.Thus, the negative value would denote that the warrant is overvalued at the current price (assuming the underlying
stock.)
Exercise
price
CLPL-W-0013
CLPL-W-0014
GREG-W-0006
REEF-W-0019
JKH-W-0022
JKH-W-0023

118.00
142.00
39.00
40.00
185.00
195.00

Share Price
(2014/02/13)
65.00
65.00
12.80
14.00
222.00
222.00

Expiry Date

Warrant Price
(2014/02/13)

25-Aug-14
25-Aug-15
24-Feb-15
15-Jun-15
28-Sep-15
27-Sep-16

0.80
1.50
0.80
1.00
63.00
66.00

4
A member of Asia Capital Group

Price According to
Black Scholes model
(Intrinsic value)
0.00
0.00
0.00
0.00
75.51
89.12

Undervalued/
(Overvalued)
(0.80)
(1.50)
(0.80)
(1.00)
12.51
23.12

Weekly Review by Asia Securities Research

13 February 2014

Commodity Prices
Date as at

24.01.14

31.01.14

07.02.14

13.02.14

WoW %
change

107.7

107.9

107.3

108.6

1.2

METALS
Gold (USD/ounce)

1,259.8

1,243.5

1,261.5

1,289.7

2.2

Copper LME (USD/ton)

7,206.0

7,095.0

7,129.5

7,155.0

0.4

22.01.14

29.01.14

05.02.14

11.02.14

WoW %
change

550.15

532.15

519.07

513.77

-1.0

23.01.14

30.01.14

07.02.14

13.02.14

WoW %
change

315.00

305.00

285.00

295.00

3.5

24.01.14

31.01.14

07.02.14

13.02.14

WoW %
change

130.74
178.90
217.49
1.26
21.62

130.76
178.41
216.45
1.28
21.59

130.70
177.64
213.33
1.28
21.56

130.82
178.13
217.43
1.28
21.57

0.1
0.3
1.9
0.0
0.0

Brent Crude Oil
(USD/barrel)

AGRI
Date as at
Tea LKR/Kg
Date as at
Rubber (RSS 1) LKR /Kg
Exchange Rates (LKR)
USD
EURO
STG (GBP)
YEN
YUAN (CNY)

Source: Bloomberg, CBSL, RDDSL, Asia Siyaka, Citi Bank

Oil
Crude oil prices advanced during the week after Energy Information Administration reported that inventories at Cushing
refinery in Oklahoma dropped by 2.67m barrels last week. Further upward thrust was witnessed in the prices after reports
from China indicating that crude oil imports during the month of January increased 12% YoY to a record high of 28.15m
metric tons. However, price gains were caped during the latter part of the week as investors speculated that the price gains
during the week were too high and after crude oil supplies rose higher than analysts’ expectations.

Gold
Gold extended its rally from last week after the new Federal Reserve Chairman Janet Yellen indicated that more work
needs to be done to bring the labour market on track. The data released last Friday showed that recruitment for the month
of January came in at 113,000, which was well below the analysts’ consensus median estimates of 180,000. Meanwhile,
analysts are expecting the data to be released today on US retail sales to show a slow down. On the back of these
developments, the price of gold gained as much as 2.2% WoW.

5
A member of Asia Capital Group

Weekly Review by Asia Securities Research

13 February 2014

Copper
Copper price advanced during mid-week after China posted better than expected trade data for the month of January. The
data indicated that both exports and imports strengthened during the month of January. Further upward thrust was
witnessed in copper price after China’s customs disclosing that the nation had imported a record 536,000 tons of copper
during the month of January. On the back of these developments, the price of copper for delivery in 3 months advanced as
much as 0.4% WoW.

Forex Markets
The USD dropped against the JPY during the week on expectation that the data to be released today on US retail sales may
show a slowdown. Meanwhile, the AUD dropped against the USD after the Australian government indicating that the
nation’s unemployment rate had risen to a 10 year high. Meanwhile, the JPY advanced against some of the Asian
currencies after the emerging market rout boosted the demand for JPY which is perceived as a safe haven.
Source: Bloomberg, The Wall Street Journal

6
A member of Asia Capital Group

Weekly Review by Asia Securities Research

13 February 2014

Conclusion
Foreign selloff creating buying opportunity to locals...
Trading activity in the Colombo Bourse during the week was marked by two distinct trends bearing major
influence over activity levels. The partial selloff from the foreigners which continued from the previous week was
tied with a degree of uncertainty among the local investors whether to cash in from the opportunity created by
lowered indices due to exit of foreign investments; these can be cited as the two major trends which largely shaped
the direction of the market during the trading week and they are most likely to influence activity levels during the
week to follow. The uncertainty among the local investors was mainly driven by the less clear state of affairs
created by the foreign selloff amidst considerably improved earnings results of conglomerates in 4Q2013 coupled
with falling market interest rates and the rupee remaining stable compared to depreciation pressures faced by other
emerging economies. Under this backdrop, the locals adopted a ‘wait and see approach’ while selling pressure
from foreigners eased towards the end of the week, which in tandem drove the market turnover well below the 12month average during the final two days of the trading week.
The partial exit of the foreigners from the equity market was triggered by the reverse flow of foreign funds from
emerging markets towards mainly the U.S. and the developed markets in general which has become a trend driven
less by reason and not due to a relative weakness in the domestic economy against that of the regional peers. The
interesting aspect to consider in this regard is that during the week ended on 5th February 2014 government
securities recorded a surprising LKR 15.5 billion foreign inflow even as the stock market saw approximately LKR
3 billion drawn out by foreigners during the same period. This reveals the fact that the foreign selloff from equities
was merely a precautionary measure and has not caused a net outflow of foreign funds from the economy although
there was a net foreign outflow from equities. This is reflected by the continuous stability shown by the Sri Lankan
rupee coupled with the dip in market interest rates and treasury yields despite foreign selling from equities.
In this light, we are of the view that foreign investors moved from equities and other forms of cash holdings to
government securities given that the latter is less volatile and more reliable compared to equities in periods of
baseless uncertainty. This is to further indicate that the U.S. Fed’s decision to taper its QE programme is having no
impact on the key fundamentals of the domestic economy and hence we are of the view that it is an ideal time for
the locals to take advantage from the lowered market indices caused by foreign activity. This is strengthened by the
improvement of earnings posted by conglomerates during the final quarter of 2013 coupled with the fact that
balance of payments position of the economy has stabilised considerably at the start of the New Year which
reduces the room for exchange risk associated with foreign activity within the economy.
.

7
A member of Asia Capital Group

Weekly Review by Asia Securities Research

13 February 2014

Focus on Investment – Key Buys
Manufacturing
X – LKR 28.50

LKR

Tokyo Cement
N – LKR 34.70

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.

35
33
31
29
27
25
23
21

LKR

TKYO

23
22
21
20
19
18
17
16

TKYOX

Banking& Finance

180

LKR

LB Finance
N – LKR 99.00

160

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 54bn as at Mar 2013, and an island wide
branch net work of 89. With satisfactory liquidity levels and capital
adequacies, company is poised to take advantage in any growth in
credit demand.The projected decline in 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.

120
100
80

LFIN

Construction
24
22
20
18
16
14

LKR

Access Engineering
N – LKR 22.80

140

Access Engineering (AEL) is a total solutions provider in the
construction industry with activities ranging from engineering designs,
geotechnical services, piling and horizontal drilling. The firm is the
premiere choice for large & specialized construction activities such as
roads & highways, ports & marine, water & waste management, whilse
its clientele includes government entities such as the Road Development
Authority (RDA), Urban Development Authority (UDA) and Board of
Investments (BOI) as well as private sector firms such as Dialog Axiata,
Taisei Corporation etc.. The firm is well poised to capitalize on the
construction boom taking place in the Island with its proven track
record.

AEL

8
A member of Asia Capital Group

Weekly Review by Asia Securities Research

13 February 2014

Focus on Investment Contd...
180
170
160
150
140
130
120

Banking & Finance
X- LKR 121.00

LKR

Hatton National Bank
N-LKR 156.00

HNB is the second largest private commercial bank with a total asset
base of LKR459.4bn as at end 2012, and number one private bank in
terms of branches with a strong network of over 247. 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 expected drop in 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.

HNB
140
130
120
110
100
90
80

LKR

.

HNBX

Banking& Finance

248
228
208
188
168
148
128

LKR

Sampath Bank
N – LKR 167.00

The bank expects a moderate pace on branch expansions for 2013 as it
has achieved sufficient coverage while aggressively developing and
promoting electronic banking channels. As the pioneer in blending IT
with banking, the company will revamp its existing products and
innovate new customer focus products. The bank is well poised to take
advantage of the current economic developments taking place in the
country. The credit ceiling that existed during 2012, limited the growth
of LCB’s, including Sampath bank. However, the removal of the ceiling
from 2013, and the anticipated drop in interest rates coupled with
SAMP’s strong capital adequacies, would enable the bank to enter
another growth phase in its performance. Therefore considering these
factors we rate SAMP as a mid to longer term investment.

SAMP

9
A member of Asia Capital Group

Weekly Review by Asia Securities Research

13 February 2014

Stock Exchange Announcements
As at 13th February 2014
Dividends announcements

Company

Dividend
Per share
(LKR)

Final/ Interim

XD Date

Payment
Date

Aitken Spence Plantation Managements
Limited
Metropolitan Resource Holdings PLC
Textured Jersey Lanka PLC
Lanka Tiles PLC
E-Channelling PLC
United Motors Lanka PLC

2.00
1.00
0.50
2.00
0.50
3.00

Interim
Second Interim
First Interim
Interim
Second Interim
Second Interim (Less Withholding Tax)

05-02-2014
06-02-2014
07-02-2014
10-02-2014
10-02-2014
13-02-2014

17-02-2014
17-02-2014
19-02-2014
19-02-2014
20-02-2014
25-02-2014

HNB Assurance PLC
Overseas Realty (Ceylon) PLC
Overseas Realty (Ceylon) PLC
Ceylon Tobacco Company PLC
NDB Capital Holdings PLC
A I A Insurance Lanka PLC

3.25
0.45
1.00
8.55
8.50
2.00

Final
Final
Special Dividend
Final
Final
First & Final

28-03-2014
25-04-2014
25-04-2014
03-04-2014
21-02-2014
28-03-2014

07-04-2014
06-05-2014
06-05-2014
11-04-2014
04-03-2014
07-04-2014

10
A member of Asia Capital Group

Weekly Review by Asia Securities Research

13 February 2014

Stock Exchange Announcements Contd...
Rights Issues
Company

Proportion / Issue Price

XR date

02 for 03 @ LKR50.00

28-02-2014

Arpico Finance

11
A member of Asia Capital Group

Last Date Of
Acceptance &
Payment

18-03-2014

Trading of rights
Commences on

10-03-2014

Weekly Review by Asia Wealth Research

13 February 2014

Valuation Guide
Company

YE

SH
(mn)

M.CAP
(Bn)

Price

Earnings(LKR Mn)
FY10

FY11

FY12

FY13

EPS
FY14E

FY10 FY11 FY12

PE
FY13

FY14E FY10 FY11 FY12

FY13

FY14E

DPS

DY

ROE

BVPS

PBV

FINANCIAL SERVICES
HNB
HNB(NV)
Commercial Bank
Commercial Bank(NV)
Sampath Bank
NDB Bank

Dec
Dec
Dec
Dec
Dec
Dec

319.53
80.30
794.62
54.54
167.80
164.69

49.8
9.7
93.8
5.3
28.0
30.2

156.00
121.00
118.00
96.50
167.00
183.50

4,786.8
4,786.8
5,508.0
5,508.0
3,484.5
2,102.6

6,148.8
6,148.8
8,094.7
8,094.7
4,150.6
2,705.5

8,111.0
8,111.0
10,079.8
10,079.8
5,342.6
8,853.8

10,003.5
10,003.5
10,793.9
10,793.9
3,669.1
3,997.5

11,625.6
11,625.6
11,784.2
11,784.2
5,770.0
4,973.1

12.0
12.0
6.5
6.5
20.8
12.8

15.4
15.4
9.5
9.5
24.7
16.4

20.3
20.3
11.9
11.9
31.8
53.8

25.0
25.0
12.7
12.7
21.9
24.3

29.1
29.1
13.9
13.9
34.4
30.2

13.0
10.1
18.2
14.9
8.0
14.4

10.1
7.9
12.4
10.1
6.8
11.2

7.7
6.0
9.9
8.1
5.2
3.4

6.2
4.8
9.3
7.6
7.6
7.6

5.4
4.2
8.5
7.0
4.9
6.1

8.50
8.50
6.50
6.50
6.00
15.00

5.4%
7.0%
5.5%
6.7%
3.6%
8.2%

16%
16%
19%
19%
20%
36%

129.1
129.1
62.4
62.4
162.2
151.1

1.2
0.9
1.9
1.5
1.0
1.2

CONGLOMERATES
John Keells Hold.
Aitken Spence Hold.

Mar
Mar

990.22
406.00

219.8
41.6

222.00
102.50

5,201.5 8,245.6
2,059.6 2,536.0

9,775.0
3,709.2

12,201.1
3,266.8

10,664.5
5,089.4

5.3
5.1

8.3
6.2

9.9
9.1

12.3
8.0

10.8
12.5

42.3
20.2

26.7
16.4

22.5
11.2

18.0
12.7

20.6
8.2

3.50
1.50

1.6%
1.5%

14%
12%

90.7
69.1

2.4
1.5

FOOD & BEVERAGE
Distilleries
Ceylon Tobacco

Mar
Dec

300.00
187.32

64.5 215.00
234.2 1250.00

2,135.7 8,124.0
5,097.1 6,568.8

5,675.4
8,176.7

5,519.7
8,097.4

8,918.3
8,083.5

7.1
27.2

27.1
35.1

18.9
43.7

18.4
43.2

29.7
43.2

30.2
45.9

7.9
35.6

11.4
28.6

11.7
28.9

7.2
29.0

3
45

1.4%
3.6%

11%
239%

164.6
18.2

1.3
68.6

TOURISM
Asian Hotels & Properties
Aitken Spence Hotel

Mar
Mar

442.78
336.29

27.5
24.2

62.00
72.00

629.8 1,774.5
523.8 1,034.1

2,150.6
1,395.3

2,494.3
1,782.1

2,617.7
1,747.0

1.4
1.6

4.0
3.1

4.9
4.1

5.6
5.3

5.9
5.2

52.7
46.2

18.7
23.4

12.8
17.4

11.0
13.6

10.5
13.9

4.00
1.00

6.5%
0.0%

11%
14%

49.0
38.4

1.3
1.9

MANUFACTURING
Chevron Lubricants
Tokyo (V)
Tokyo (NV)
Piramal Glass
Textured Jersey

Dec
Mar
Mar
Mar
Mar

120.00
222.75
111.38
950.09
655.00

33.7
7.7
3.2
3.8
10.0

280.50
34.70
28.50
4.00
15.30

1,501.3 2,000.6
369.3
855.7
369.3
855.7
(61.1)
578.7
577.0
685.0

2,257.3
973.2
973.2
686.4
629.0

2,583.5
827.9
827.9
724.4
1,016.0

2,678.2
1,505.0
1,505.0
427.3
1,097.0

12.5
1.1
1.1
(0.1)
0.9

16.7
2.6
2.6
0.6
1.0

18.8
2.9
2.9
0.7
1.0

21.5
2.5
2.5
0.9
1.6

22.3
4.5
4.5
0.4
1.7

22.4
31.4
25.8
N/A
N/A

16.8
13.5
11.1
6.6
N/A

14.9
11.9
9.8
5.5
15.9

13.0
14.0
11.5
4.3
9.9

12.6
7.7
6.3
8.9
9.1

11.00
1.00
1.00
0.38
1.24

3.9%
2.9%
3.5%
9.5%
8.1%

55%
12%
12%
20%
16%

34.4
20.1
20.1
3.8
9.4

8.2
1.7
1.4
1.0
1.6

CONSTRUCTION
Access Engineering

Mar

1000.00

22.8

22.80

808.0

962.0

1733.00

2382.00

2613.00

0.8

1.0

1.7

2.4

2.6

N/A

N/A

13.2

9.6

8.7

0.50

0.1%

19%

12.5

1.8

POWER & ENERGY
Laugfs Gas (Voting)
Laugfs Gas (Non voting)

Mar
Mar

335.00
52.00

11.1
1.2

33.00
23.80

243.1
243.1

852.7
852.7

930.3
930.3

1,060.8
1,060.8

1,299.2
1,299.2

0.6
0.6

2.2
2.2

2.4
2.4

2.7
2.7

3.4
3.4

52.5
37.9

15.0
10.8

13.7
9.9

12.0
8.7

9.8
7.1

1.50
1.50

4.5%
6.3%

16%
16%

19.4
17.5

1.7
1.4

*Companies with their financial year ending in December would carry forecasted figure for FY13.

12
A member of Asia Capital Group

Company

Code

Year
End

Price
(LKR) 1W(%)

Price Weekly
PerformanceReview by
Shares
Trailing
BVPS Research
Net Profits
Asia
Securities
Mn
ROE
4 Qtrs
1M(%) 1Q(%) 1Y(%)
trailing
Sep’13
(0.54)
4.60
4.34
11.60%
181,672.95 31,711.95

MARKET

(0.95)

FINANCIAL SERVICES
Banking
COMMERCIAL BANK [V]
COMMERCIAL BANK [NV]
DFCC BANK
HNB [V]
HNB [NV]
NATIONS TRUST BANK
NDB
PAN ASIA BANK
SAMPATH BANK
SEYLAN BANK [V]
SEYLAN BANK [NV]
HDFC
UNION BANK
AMANA BANK LIMITED
Finance Co.s & / Merchant Banks
ASIA CAPITAL
ALLIANCE FINANCE
ARPICO FINANCE
CENTRAL FINANCE
NATION LANKA
LOLC
LB FINANCE
MERCHANT BANK
PEOPLE'S MERCHANT
SMB LEASING PLC [V]
SMB LEASING PLC [NV]
THE FINANCE
THE FINANCE[NV]
SOFTLOGIC FINANCE
VALLIBEL FINANCE
SINHAPUTRA
SINGER FINANCE
BIMPUTH LANKA INVESTMENTS
TRADE FINANCE

(1.25)

(1.71)

COMBN
COMBX
DFCCN
HNB N
HNB X
NTB N
NDB N
PABCN
SAMPN
SEYBN
SEYBX
HDFCN
UBC N
ABL.N

MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB

D
D
M
D
D
D
D
D
D
D
D
D
D
D

118.00
96.50
146.00
156.00
121.00
66.00
183.50
16.40
167.00
64.90
33.50
34.00
18.10
5.60

(1.75)
(0.10)
(2.54)
(0.06)
(3.82)
(0.75)
(0.98)
(1.19)
(1.59)
(1.41)
(2.33)
(5.82)
(3.21)
(3.45)

(6.87)
(2.80)
1.23
(3.20)
(0.90)
(1.14)
(1.19)
(5.22)
(1.41)
4.69
2.72
0.56
-

ACAPN
ALLIN
ARPIN
CFINN
CSF N
LOLCN
LFINN
MBSLN
PMB N
SEMBN
SEMBX
TFC N
TFC X
CRL N
VFINN
SFL N
SFINN
BLI N
TFILN

MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
DiriSaviB
MainB
DiriSaviB
MainB
DiriSaviB
DiriSaviB

M
M
M
M
M
M
M
D
M
D
D
M
M
M
M
M
M
M
M

17.00
809.00
103.50
191.00
8.90
75.00
99.00
14.30
15.40
1.30
0.50
11.80
6.30
32.80
30.00
130.50
12.40
41.70
18.50

(1.16)
3.06
(1.43)
(2.20)
(1.20)
(1.38)
(6.45)
3.48
(2.38)
(1.64)
(1.51)
(3.79)
19.20
(2.11)

0.59
5.77
(1.15)
2.25
8.54
3.59
(6.16)
(5.30)
17.89
44.44
(13.14)
(20.99)
13.10
(5.96)
32.76
123.66
24.83

6.85

3.73

4.52
8.26
7.82
4.66
20.48
15.89
7.59
4.77
10.00
4.67
9.27
10.18
20.99
20.04
(1.19) (8.79)
- (30.45)
(2.92)
5.34
12.79 (3.46)
11.84 (28.57)
9.04
14.56
(8.11)
(3.11)
(4.96)
6.11
20.27
20.97
(5.71)
(4.67)
20.83
62.50
66.67
19.00
72.97
17.99
36.95
4.96
152.12
37.78

(39.29)
7.24
23.10
3.30
(9.18)
20.97
(31.20)
(26.29)
8.21
62.50
25.00
(30.00)
18.52
31.73
(3.23)
60.62
(2.31)
175.50
45.31

13
A member of Asia Capital Group

14.30%
794.62
54.54
265.10
319.53
80.30
230.61
164.69
295.04
167.80
175.98
168.98
64.71
349.25
1250.70
110.00
2.43
4.46
104.88
249.95
475.20
69.26
135.00
67.50
1191.77
614.07
57.97
100.00
37.45
41.55
6.30
165.33
26.93
56.80

16.61%
16.61%
8.63%
16.02%
16.02%
18.31%
36.33%
10.91%
13.45%
9.54%
9.54%
5.93%
3.73%

68.61
68.61
140.31
139.40
139.40
48.60
150.32
13.99
171.96
60.29
60.29
39.40
14.28

64,596.16 12,573.80
39,513.50 8,778.75
9,675.97 2,755.97
9,675.97 2,755.97
3,209.64
592.51
8,930.60 2,349.98
8,930.60 2,349.98
2,051.95
616.14
8,993.80
891.96
450.27
28.92
3,880.59
859.16
1,983.56
535.25
1,983.56
535.25
151.15
108.49
185.98
40.38

11.69%
na
19.80%
14.48%
16.79%
16.99%
8.56%
24.33%
na
na
7.33%
7.33%
na
na
13.89%
29.67%
7.53%
12.29%
13.28%
20.03%

4.18
918.74
109.83
174.32
1.17
44.65
82.40
20.71
16.85
0.53
0.53
-46.88
-46.88
32.50
24.31
136.68
11.70
13.56
12.50

12,369.78
(666.91)
441.99
70.96
3,068.87
49.86
1,815.80
1,388.34
(47.81)
(176.91)
69.71
69.71
(1,680.39)
(1,680.39)
169.12
299.68
64.81
237.62
48.50
142.19

3,028.75
(111.95)
79.15
27.93
782.78
58.23
436.44
290.28
(60.82)
(64.29)
19.35
19.35
(387.65)
(387.65)
35.03
65.33
23.67
64.29
9.18
37.51

Net Profits (mn)
Jun'13
34,184.23

Mar'13
52,140.59

Dec'12
63,460.92

10,866.21
7,487.77
2,230.95
2,230.95
595.40
2,149.70
2,149.70
478.37
797.75
10.52
651.74
484.24
484.24
12.03
77.07

12,335.75
7,566.77
2,256.05
2,256.05
1,226.63
1,262.19
1,262.19
501.93
506.89
151.45
1,055.90
509.51
509.51
38.43
57.79

28,927.79
15,680.20
2,433.00
2,433.00
795.10
3,168.72
3,168.72
455.50
6,797.20
259.38
1,313.80
454.56
454.56
(7.80)
10.74

2,688.16
(212.87)
64.76
2.10
826.56
(16.04)
693.94
228.02
8.37
(58.95)
13.59
13.59
(433.26)
(433.26)
36.55
70.49
11.86
53.25
11.39
46.23

3,363.04
(240.79)
150.45
20.94
703.25
5.64
171.58
466.10
(2.29)
(25.71)
17.77
17.77
(349.08)
(349.08)
64.76
91.26
13.99
57.03
26.70
30.58

3,320.99
(101.30)
147.63
20.00
756.28
2.03
513.84
403.94
6.92
(27.97)
19.00
19.00
(510.40)
(510.40)
32.78
72.60
15.30
63.04
1.23
27.88

Trailing
Trailing PBV
Market Cap
13 February
2014
EPS
PE
(mn)
13.98

1.62 2,539,542.60

8.80

1.26

11.39
11.39
12.11
22.34
22.34
8.90
54.61
1.53
23.13
5.75
5.75
2.34
0.53

10.4
8.5
12.1
7.0
5.4
7.4
3.4
10.7
7.2
11.3
5.8
14.6
34.0

1.7
1.4
1.0
1.1
0.9
1.4
1.2
1.2
1.0
1.1
0.6
0.9
1.3

93,765.28
5,263.42
38,704.26
49,847.36
9,716.28
15,220.08
30,221.17
4,838.67
28,023.17
11,420.93
5,660.93
2,200.16
6,321.43
7,003.89

na
181.89
15.90
29.26
0.20
3.82
20.05
na
na
0.04
0.04
na
na
4.52
7.21
10.29
1.44
1.80
2.50

na
4.4
6.5
6.5
44.6
19.6
4.9
na
na
33.7
13.0
na
na
7.3
4.2
12.7
8.6
23.2
7.4

4.1
0.9
0.9
1.1
7.6
1.7
1.2
0.7
0.9
2.5
0.9
-0.3
-0.1
1.0
1.2
1.0
1.1
3.1
1.5

1,870.00
1,965.87
461.87
20,032.72
2,224.57
35,640.00
6,856.46
1,930.50
1,039.50
1,549.30
307.03
684.00
630.00
1,228.49
1,246.52
821.61
2,050.13
1,123.12
1,050.81

Weekly Review by Asia Securities Research

Company
CITIZENS DEVELOP. BUS.FINANCE
CITIZENS DEVELOP.BUS.FINANCE [NV]
SENKADAGALA FINANCE
SWARNAMAHAL FINANCE
CHILAW FINANCE LIMITED
COMMERCIAL CREDIT LIMITED
MERCANTILE INVESTMENTS
MULTI FINANCE
LANKA ORIX FINANCE
ABANS FINANCIAL SERVICES
CENTRAL INV & FINPLC
ASSOCIATED MOTOR FINANCE PLC
CAPITAL ALLIANCE FINANCE LIMITED
NANDA INVESTMENTS AND FINANCE
SOFTLOGIC CAPITAL LIMITED
ENTRUST
PEOPLE’S LEASING
ASIA ASSET FINANCE LIMITED
ORIENT FINANCIAL SERVICE
SANASA DEVELOPMENT BANK
COMMERCIAL LEASING & FINANCE
GEORGE STEUART FINANCE
Insurance
AMANA TAKAFUL INS.
ASIAN ALLIANCE
CEYLINCO INSURANCE [V]
CEYLINCO INSURANCE [NV]
AIA INSURANCE LANKA
HNB ASSURANCE
UNION ASSURANCE
JANASHAKTHI
Venture Capital Co.s
NDB CAPITAL
FIRST CAPITAL
LANKA VENTURES

CDB N
CDB X
SFCLN
SFS N
CFL N
COCRN
MERCN
MFL N
LOFCN
AFSLN
CIFLN
AMF N
CALFN
NIFLN
SCAPN
ESL N
PLC N
AAF N
ORINN
SDB N
CLC N
GSF N

MainB
MainB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB
MainB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB
MainB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB

Year
End
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
D
M
M

ATL N
AAICN
CINSN
CINSX
CTCEN
HASUN
UAL N
JINSN

DiriSaviB
DiriSaviB
MainB
MainB
MainB
MainB
MainB
DiriSaviB

D
D
D
D
D
D
D
D

1.40
86.80
1326.00
418.00
278.50
64.00
112.10
13.50

(6.67)
(8.54)
(1.51)
(3.69)
(2.28)
(0.36)
-

(6.67)
(12.06)
(1.03)
0.72
0.51
6.67
(0.80)
3.05

CDICN
CFVFN
LVENN

MainB
MainB
MainB

D
M
M

500.00
19.10
42.00

(7.24)
0.53
2.19

(7.41)
3.24
(3.45)

48.00
38.10
49.10
2.30
18.30
15.70
2200.00
17.00
3.70
31.60
1.00
325.00
15.40
7.70
4.80
19.70
14.70
1.90
14.80
77.00
4.10
371.00

Price Performance
1W(%)
1M(%) 1Q(%) 1Y(%)
(3.45)
1.28
13.33
13.33
0.53
(2.05)
4.09
27.33
- (1.80) (1.80)
(4.17)
4.55 (37.84)
(3.68)
15.09
57.76
44.09
(0.64)
18.32
47.62
7.64
(2.81)
(6.49)
10.90 (38.21)
2.78
15.63
27.59
5.71
(0.94)
10.10
3.27
1.94
11.11 (9.09) (73.68)
(2.99)
(1.52) (1.22) (13.33)
(6.67)
(4.94) (1.28) (13.48)
(1.28)
(1.28) (2.53)
11.59
4.35
9.09 (20.00)
(0.51)
3.16
7.10
2.08
(2.65)
5.00
8.89
4.26
- (10.00) (28.00)
2.88
5.15
1.42 (8.33)
(1.79)
(2.04)
6.65
2.50
- (2.38)
(0.56)
(25.04) (25.20) (42.93)

(6.67) (12.50)
3.70
5.21
0.92
39.14
6.63
30.63
(1.38) (4.33)
23.08
21.21
4.86
28.85
5.47
25.00
2.46
15.06
15.70

2.88
55.28
31.25

14
A member of Asia Capital Group

Shares
Mn
46.30
8.01
58.70
500.00
33.90
238.07
3.01
22.46
2800.00
37.00
83.43
5.61
38.77
105.75
299.20
33.00
1579.86
559.47
115.63
25.18
6377.71
22.50

Trailing BVPS
ROE
17.89%
60.20
17.89%
60.20
34.03%
29.11
na
0.05
8.32%
11.22
43.67%
7.56
9.55% 1989.75
na
13.05
12.91%
2.12
1.50%
11.69
na
2.27
24.32% 121.95
na
7.83
5.72%
5.59
na
4.85
11.70%
22.58
17.50%
11.76
9.50%
1.38
14.52%
7.07
10.81% 137.72
11.91%
1.31
na
14.14

1000.00
37.50
20.00
6.41
30.00
50.00
85.71
363.00

10.56%
1.48%
14.53%
14.53%
15.66%
19.47%
23.81%
22.17%

1.03
36.44
543.79
543.79
138.10
37.62
48.49
9.40

32.90 131.89%
101.25 20.38%
50.00 20.88%

164.67
18.77
26.68

Net Profit
4Qtrs
584.74
584.74
581.51
(385.59)
31.63
785.68
571.28
(139.49)
765.82
6.49
(512.98)
166.32
(9.13)
33.78
(290.57)
87.21
3,251.00
73.38
118.68
374.64
993.44
(13.46)
4,976.87
108.94
20.22
2,086.78
2,086.78
648.58
366.25
989.85
756.25
7,736.01
7,146.29
387.45
278.51

13 February 2014

Sep'13
135.95
135.95
164.47
(367.36)
3.46
172.91
148.40
(35.11)
454.96
(13.79)
37.30
(7.09)
7.50
(136.01)
0.80
786.00
19.49
29.09
103.73
225.42
(5.81)

Jun'13
135.02
135.02
76.17
(40.59)
6.50
172.99
95.19
(39.20)
76.50
2.12
(182.14)
50.27
(4.05)
7.63
(101.10)
6.12
681.00
15.90
9.74
80.63
294.50
(1.02)

Mar'13
143.80
143.80
184.40
1.10
12.80
313.20
169.90
(54.70)
171.60
13.70
(182.64)
39.80
(2.10)
8.70
(65.80)
42.00
1,006.00
18.20
41.00
117.10
199.80
(17.00)

Dec'12
169.97
169.97
156.48
21.26
8.87
126.58
157.79
(10.48)
62.77
4.46
(117.04)
38.95
4.11
9.95
12.34
38.30
778.0
19.79
38.85
73.18
273.73
10.37

468.36
(12.32)
(98.18)
233.44
233.44
111.82
50.18
101.53
81.88
297.94
158.47
25.55
113.92

364.86
17.20
(56.60)
162.70
162.70
-9.26
54.71
78.36
117.75
325.42
211.05
62.04
52.33

788.20
33.20
36.20
326.60
326.60
32.00
50.10
111.40
198.70
617.74
337.37
220.35
60.02

3,355.45
70.86
138.81
1,364.04
1,364.04
514.02
211.26
698.56
357.92
6,571.15
6,439.40
79.51
52.24

Trailing Trailing PBV Mkt Cap Mn
EPS
PE
10.77
4.5
0.8
2,222.36
10.77
3.5
0.6
305.03
9.91
5.0
1.7
2,882.41
na
na 50.7
1,150.00
0.93
19.6
1.6
620.39
3.30
4.8
2.1
3,737.77
190.05
11.6
1.1
6,613.20
na
na
1.3
381.85
0.27
13.5
1.7
10,360.00
0.18
180.3
2.7
1,169.20
na
na
0.4
83.43
29.66
11.0
2.7
1,822.72
na
na
2.0
597.00
0.32
24.1
1.4
814.29
na
na
1.0
1,436.16
2.64
7.5
0.9
650.10
2.06
7.1
1.3
23,223.98
0.13
14.5
1.4
1,063.00
1.03
14.4
2.1
1,711.25
14.88
5.2
0.6
1,938.50
0.16
26.3
3.1
26,148.62
na
na 26.24
8,347.50

0.10
0.35
79.00
79.00
21.62
7.32
11.55
2.08

13.3
246.8
16.8
5.3
12.9
8.7
9.7
6.5

1.4
2.4
2.4
0.8
2.0
1.7
2.3
1.4

1,400.00
3,255.00
26,520.00
2,681.25
8,355.00
3,200.00
9,608.57
4,900.50

217.18
3.83
5.57

2.3
5.0
7.5

3.0
1.0
1.6

16,452.47
1,933.88
2,100.00

Weekly Review by Asia Securities Research

Company

Year
End

Price Performance
1W(%)
1M(%)
(0.53)
1.55
(3.23)
(7.74)
(1.34)
(0.68)
(4.02)
(4.61)
(2.94)
6.37
(4.90)
(2.02)
(0.19)
1.93
(4.65)
(12.30)
0.75
(6.90)
5.82
19.05
1.22
6.70
1.18
0.16
5.17
0.19
(1.70)
(2.48)
4.65
(4.01)
(0.71)
(7.37)
(10.20)
(5.26)
(7.69)
(4.37)
(11.84)
(3.96)
(6.73)

1Q(%)
12.52
(8.15)
(9.09)
15.04
7.09
19.05
(2.96)
(3.57)
10.74
16.85
4.37
2.10
(0.76)
9.97
3.77
7.69
0.57
(7.69)
(8.14)
4.55
(8.49)

1Y(%)
28.41
(3.31)
(3.92)
2.24
12.54
4.44
50.82
(18.00)
(12.90)
90.48
16.22
(10.42)
(9.86)
44.72
20.31
(5.09)
29.02
(26.36)
(21.74)
(23.91)
(11.54)
(25.38)

Shares Trailing BVPS
Mn
ROE
20.31%
16.00 10.87% 112.14
224.00 3.59%
52.48
20.99 27.54%
73.64
95.04 19.21%
98.53
20.00 13.35% 412.83
187.32 188.46%
24.37
89.77 0.22%
23.69
4.77 0.22%
23.69
2.75 30.09% 141.45
300.00 11.17% 166.42
0.96 12.67% 1013.46
25.50 8.20%
58.39
31.40 12.69%
26.07
80.00 15.71%
76.71
40.00 3.77% 234.38
53.73 102.35%
64.68
23.55 10.01%
36.79
561.75 4.58%
3.47
30.00 6.47%
27.90
282.21 7.22%
2.99
66.43 3.92%
7.49

13 February 2014

Net Profit
4Qtrs
23,779.47
195.00
421.82
425.64
1,798.63
1,102.46
8,603.00
4.90
4.90
117.03
5,577.10
123.28
122.09
103.84
964.19
353.43
3,556.70
86.68
89.14
54.17
60.86
19.51

Sep'13
6,053.03
52.57
49.78
113.94
152.99
391.99
2,333.00
33.73
33.73
13.45
1,492.60
37.83
23.44
9.57
258.53
(3.31)
905.56
78.72
60.78
7.29
43.50
(2.92)

Jun'13
6,416.51
52.18
121.36
102.78
160.22
159.08
2,823.00
22.88
22.88
14.45
1,643.19
24.52
29.76
20.54
287.70
85.59
787.32
19.87
34.00
15.77
4.24
8.07

Mar'13
5,857.07
84.62
123.48
110.55
1,422.92
319.97
1,463.00
(83.02)
(83.02)
62.94
968.45
31.27
27.48
38.58
232.28
82.56
914.02
21.75
(11.70)
29.62
7.42
10.87

Dec'12
5,452.86
5.63
127.20
98.37
62.51
231.42
1,984.00
31.31
31.31
26.20
1,472.85
29.66
41.42
35.16
185.68
188.58
949.80
(33.67)
6.06
1.50
5.70
3.49

Trailing Trailing
EPS
PE
22.40
12.19
10.1
1.88
78.1
20.28
23.7
18.93
8.2
55.12
12.3
45.93
27.2
0.05
324.3
0.05
260.6
42.56
5.6
18.59
11.6
128.44
16.7
4.79
13.18
3.31
15.8
12.05
31.9
8.84
12.4
66.20
31.7
3.68
9.6
0.16
22.7
1.81
19.4
0.22
10.7
0.29
33.0

BEVERAGE FOOD AND TOBACCO
BAIRAHA FARMS
CARGILLS
CEYLON BEVERAGE HOLDINGS
CEYLON COLD STORES
CEYLON TEA SERVICES
CEYLON TOBACCO
RENUKA SHAW WALLACE (N)
RENUKA SHAW WALLACE [NV]
CONVENIENCE FOOD
DISTILLERIES
HARISCHANDRA MILLS
KEELLS FOOD PRODUCTS
KOTMALE HOLDINGS
LION BREWERY
LANKA MILK FOODS
NESTLE LANKA
THREE ACRE FARMS
RENUKA AGRI
TEA SMALLHOLDERS
RAIGAM WAYAMBA SALTERNS LTD
HVA FOODS

BFL N
CARGN
BREWN
CCS N
CTEAN
CTC N
COCON
COCOX
SOY N
DISTN
HARIN
KFP N
LAMBN
LIONN
LMF N
NESTN
TAFLN
RAL N
TSMLN
RWSLN
HVA N

MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
DiriSaviB
MainB
DiriSaviB
DiriSaviB

M
M
M
M
M
D
M
M
M
M
M
M
M
M
M
D
D
M
M
M
M

122.70
147.00
480.00
155.30
680.00
1250.00
16.80
13.50
238.10
215.00
2150.00
63.10
52.10
385.00
110.00
2,100.00
35.20
3.60
35.00
2.30
9.70

CHEMICALS & PHARMACEUTICALS
CHEMANEX
CHEMICAL INDUSTRIES [V]
CHEMICAL INDUSTRIES [NV]
HAYCARB
INDUSTRIAL ASPHALTS
J.L. MORISON [V]
J.L. MORISON [NV]
LANKEM CEYLON
SINGALANKA
MULLERS
UNION CHEMICALS
PC PHARMA

CHMXN
CIC N
CIC X
HAYCN
ASPHN
MORIN
MORIX
LCEYN
SINGN
MULLN
UCARN
PCP N

MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
DiriSaviB

M
M
M
M
M
M
M
M
M
M
D

82.90
50.90
38.50
179.10
201.00
269.90
185.00
110.20
64.00
1.20
467.70
1.30

(2.37)
13.56
(2.12)
(1.28)
(4.38)
(7.30)
17.09
(7.67)
1.59
-

(5.59) (3.09) (12.13)
(0.12)
9.08
3.63
(9.43) (3.96) (18.69)
(4.23)
13.57 (23.00)
(3.19) (1.59)
5.35
(12.43) (5.16)
2.90
(1.85) (3.95)
58.76
2.78
8.82
80.31
(11.36) (14.18) (31.60)
18.52
19.18 (17.95)
(7.69) (7.69) (25.00)
(1.89)
19.92
1.67
(14.29) (14.29) (87.88)

4.27%
15.75
na
72.90 3.23%
21.87 3.23%
29.71 17.31%
0.67 2.70%
5.81 8.86%
1.74 8.86%
24.00
na
5.54
na
283.00 10.11%
1.50 11.22%
101.00
na

76.57
41.76
41.76
158.32
131.26
261.53
261.53
131.41
50.82
0.65
208.55
0.63

680.05
(42.88)
127.86
127.86
814.14
2.37
174.88
174.88
(237.03)
(20.93)
18.58
35.10
(192.02)

(316.29)
(3.52)
(4.25)
(4.25)
100.87
0.45
45.93
45.93
(431.61)
(1.52)
6.34
12.18
(41.17)

(44.92)
(1.22)
(75.27)
(75.27)
199.89
0.57
30.19
30.19
(185.44)
2.29
7.85
2.62
(26.41)

328.15
(25.63)
55.28
55.28
305.87
0.82
52.52
52.52
72.81
(15.44)
0.26
9.40
(127.74)

713.12
(12.51)
152.10
152.10
207.5
0.52
46.24
46.24
307.20
(6.25)
4.12
10.90
3.29

na
1.35
1.35
27.40
3.55
23.16
23.16
na
na
0.07
23.40
na

CONSTRUCTIONS
COLOMBO DOCKYARD
LANKEM DEVELOPMENTS
MTD WALKERS
ACCESS ENGINEERING LIMITED

DOCKN
LDEVN
KAPIN
AEL N

MainB
MainB
MainB
MainB

D
M
M
M

186.00
4.80
29.00
22.80

(1.30)
(0.59)
(4.00)
(9.09)
(0.44)

0.40
0.58 (0.92)
(2.16)
1.53 (18.06)
(7.69) (15.79) (30.43)
(11.31)
5.84
17.89
4.13 (0.44)
10.73

14.23%
71.86 10.30%
60.00
na
114.36 12.16%
1000.00 20.69%

145.80
9.59
41.01
13.45

4,152.19
1,078.67
(278.67)
570.06
2,782.14

976.00
192.58
(44.34)
166.16
661.59

764.57
115.84
(66.45)
160.97
554.22

1,046.29
336.04
(204.33)
183.20
731.38

1,365.33
434.21
36.45
59.73
834.95

15.01
na
4.98
2.78

15
A member of Asia Capital Group

PBV Mkt Cap Mn
4.55
1.1
2.8
6.5
1.6
1.6
51.3
0.7
0.6
1.7
1.3
2.1
1.1
2.0
5.0
0.5
32.5
1.0
1.0
1.3
0.8
1.3

1,963.20
32,928.00
10,074.28
14,759.71
13,600.00
234,154.69
1,508.17
64.44
654.78
64,500.00
2,063.57
1,609.05
1,635.94
30,800.00
4,399.78
112,823.47
828.78
2,022.30
1,050.00
649.08
644.36

25.55
na
37.7
28.5
6.5
56.6
11.7
8.0
na
na
18.3
20.0
na

1.09
1.1
1.2
0.9
1.1
1.5
1.0
0.7
0.8
1.3
1.8
2.2
2.1

1,305.68
3,710.61
842.00
5,321.49
133.98
1,567.66
322.36
2,644.80
354.61
339.60
701.55
131.30

9.58
12.4
na
5.8
8.2

1.36
1.3
0.5
0.7
1.7

13,365.76
288.00
3,316.36
22,800.00

Weekly Review by Asia Securities Research

Company

Year
End

DIVERSIFIED
AITKEN SPENCE
CARSON CUMBERBATCH
C T HOLDINGS
COLOMBO FORT LAND
FINLAYS COLOMBO
HAYLEYS
HEMAS HOLDINGS
JOHN KEELLS HOLDINGS
DUNAMIS CAPITAL
RICHARD PIERIS
SUNSHINE HOLDINGS
SOFTLOGIC HOLDINGS
EXPOLANKA HOLDINGS
F L C HOLDINGS
VALLIBEL ONE LIMITED
BROWNS INVESTMENTS PLC
PCH HOLDINGS LIMITED
TAPROBANE HOLDINGS

SPENN
CARSN
CTHRN
CFLBN
JFINN
HAYLN
HHL N
JKH N
CSECN
RICHN
SUN N
SHL N
EXPON
FLCHN
VONEN
BIL N
PCHHN
TAP N

MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB

M
M
M
M
D
M
M
M
M
M
M
M
M
M
M
M
M
M

102.50
350.00
142.00
26.50
245.20
295.00
38.00
222.00
13.00
6.50
30.00
10.50
8.80
2.00
17.00
2.30
1.10
2.90

FOOTWEAR AND TEXTILES
CEYLON LEATHER
HAYLEYS - MGT
KURUWITA TEXTILES
ODEL

CLPLN
MGT N
KURUN
ODELN

MainB
MainB
MainB
DiriSaviB

M
M
M
M

65.00
11.00
21.70
20.40

HOTELS AND TRAVELS
City Hotels
ASIAN HOTEL & PROPERTIES
GALADARI
KINGSBURY
RENUKA CITY HOTEL
TAJ LANKA
TRANS ASIA

AHPLN
GHLLN
SERVN
RENUN
TAJ N
TRANN

MainB
MainB
MainB
MainB
MainB
MainB

M
D
M
M
M
M

62.00
11.00
12.50
275.00
30.00
76.20

Price Performance
1W(%)
1M(%) 1Q(%) 1Y(%)
(2.22)
(2.29)
1.31 (6.77)
1.38
0.39 (9.60) (17.92)
0.95
(0.43) (7.89) (23.58)
0.71
1.43 (5.33)
1.43
(5.32)
(11.30) (5.32) (14.97)
(17.97)
(22.89) (15.71) (22.45)
(1.01)
(1.40)
0.68 (2.38)
(2.06)
1.33
16.92
35.23
(3.23)
(3.90)
6.42 (3.52)
(3.70)
8.33
17.12
9.24
(1.52)
(1.52)
- (12.16)
(5.94)
1.69
7.50
(9.48)
11.70
22.09 (8.70)
(5.38)
6.02
18.92
23.94
(8.70) (12.50) (16.00)
(0.58)
(1.73) (0.58)
0.59
(4.17)
(8.00) (8.00) (32.35)
10.00 (21.43) (84.29)
3.57
3.57 (39.58)
(1.74)
(1.52)
10.00
(3.30)

(5.16)
(3.85)
7.18
(8.07)

2.83 (6.76)
1.25 (10.47)
4.76
6.80
13.59 (5.00)
1.99 (8.89)

(0.72)

(1.28)

(0.60)

(3.88)
(1.79)
(2.34)
(3.85)
(1.30)

-4.19%
5.54%
na
na
4.69%

34.23
152.34
25.00
272.13

(8.86)

6.66%

(7.19) (8.82) (12.68)
(8.33) (13.39) (16.03)
(10.71) (6.02) (19.35)
3.77
13.31
15.40
1.69
0.33
3.81
(5.22) (10.14) (1.04)

442.78 11.53%
500.83 4.04%
242.00
na
7.00 8.74%
139.64
na
200.00 17.07%

16
A member of Asia Capital Group

Shares Trailing
Mn
ROE
8.95%
406.00 10.83%
196.39 9.90%
183.10 8.42%
180.00
na
35.00 5.52%
75.00 9.32%
515.29 14.94%
990.22 9.92%
123.00 10.88%
1958.09 16.97%
133.83 13.86%
779.00 2.57%
1954.92 12.07%
1368.00
h
1086.56 3.40%
1860.00
na
252.00
na
1002.72 76.51%

BVPS

13 February 2014

70.97
153.65
91.25
40.42
159.25
307.66
24.94
119.85
10.84
4.12
31.88
9.48
4.84
4.70
27.97
5.59
2.81
2.91

Net Profit
4Qtrs
29,031.45
3,121.47
2,987.72
1,406.55
(363.13)
307.40
2,150.45
1,919.75
11,776.24
145.15
1,368.81
591.42
189.51
1,142.96
385.98
1,032.71
(492.96)
(872.77)
2,234.19

Sep'13
2,579.54
559.67
(829.26)
(65.40)
(750.60)
71.42
468.60
707.50
2,059.21
(22.82)
295.97
176.36
53.94
342.29
26.62
279.49
(157.07)
(597.32)
(39.06)

Jun'13
4,826.50
666.94
585.12
665.44
(60.31)
42.06
418.39
276.71
1,586.40
18.31
185.19
65.39
38.97
323.07
(32.95)
146.28
(54.96)
(85.73)
42.17

Mar'13
11,696.96
1,193.17
2,408.60
388.39
78.68
85.12
490.84
590.54
5,232.99
132.00
330.59
145.24
11.98
277.51
224.70
242.33
(53.62)
(142.00)
59.90

Dec'12
9,928.45
701.69
823.25
418.12
369.10
108.80
772.62
345.01
2,897.64
17.66
557.07
204.44
84.62
200.09
167.61
364.60
(227.31)
(47.72)
2,171.17

89.00
9.70
28.25
16.69

(409.81)
168.71
(469.23)
(322.57)
213.29

18.45
83.33
0.16
(147.18)
82.13

(197.06)
40.99
(92.33)
(211.53)
65.82

(249.94)
9.20
(262.93)
20.18
(16.39)

18.74
35.19
(114.1)
15.96
81.73

48.56
16.09
6.45
482.41
14.69
29.50

7,920.07
3,617.46
2,479.66
325.11
(324.19)
295.03
(165.29)
1,007.14

1,433.39
769.13
567.05
54.18
26.71
98.54
(171.80)
194.45

273.87
451.01
393.15
67.19
-105.20
81.29
-106.92
121.50

3,864.31
1,286.21
896.80
-5.26
-106.80
33.10
25.97
442.40

2,348.49
1,111.11
622.66
209.00
(138.90)
82.10
87.46
248.79

Trailing Trailing
EPS
PE
16.66
7.69
13.3
15.21
23.0
7.68
18.5
na
na
8.78
27.9
28.67
10.3
3.73
10.2
11.89
18.7
1.18
11.0
0.70
9.3
4.42
6.8
0.24
43.2
0.58
15.1
0.28
7.1
0.95
17.9
na
na
na
na
2.23
1.3

4.93
na
na
0.78

5.60
0.65
na
42.15
na
5.04

PBV Mkt Cap Mn
1.49
1.4
2.3
1.6
0.7
1.5
1.0
1.5
1.9
1.2
1.6
0.9
1.1
1.8
0.4
0.6
0.4
0.4
1.0

41,614.59
68,735.42
25,999.81
4,770.00
8,582.00
22,125.00
19,581.04
219,829.93
1,598.96
12,727.57
4,014.80
8,179.50
17,203.25
2,736.00
18,471.51
4,278.00
277.20
2,907.90

na
13.2
na
na
26.0

1.02
0.7
1.1
0.8
1.2

2,225.20
1,675.78
542.50
5,551.44

17.28

1.15

11.1
16.9
na
6.5
na
15.1

1.3
0.7
1.9
0.6
2.0
2.6

27,452.07
5,509.13
3,025.00
1,925.00
4,189.12
15,240.00

Weekly Review by Asia Securities Research

Company

Year
End

Resort Hotels
AIT. SPENCE HOTEL HOLD.
AMAYA LEISURE
BROWNS BEACH HOTELS
CEYLON HOTELS CORP.
PALM GARDEN HOTEL
BERUWALA WALK INN
EDEN HOTELS
HOTEL SIGIRIYA
HUNAS FALLS
KANDY HOTELS
JOHN KEELLS HOTELS
LIGHT HOUSE HOTEL
MIRAMAR
MAHAWELI REACH
NUWARA ELIYA
PEGASUS
CITRUS LEISURE
ROYAL PALMS
SIGIRIYA VILLAGE
DOLPHIN HOTELS
TANGERINE
SERENDIB HOTELS [V]
SERENDIB HOTELS [NV]
MARAWILA RESORTS
FORTRESS RESORTS
KALPITIYA BEACH RESORT
WASKADUWA BEACH RESORT
BERUWALA RESORTS
HIKKADUWA BEACH RESORT
ANILANA HOTELS AND PROPERTIES
LIMITED
INVESTMENT TRUST
ASCOT HOLDINGS
CEYLON GUARDIAN
CEYLON INVESTMENT
COLOMBO FORT INV.
COLOMBO INV. TRUST
LEE HEDGES
RENUKA HOLDINGS [V]
RENUKA HOLDINGS [NV]
GUARDIAN CAPITAL

AHUNN
CONNN
BBH N
CHOTN
PALMN
BINNN
EDENN
HSIGN
HUNAN
KHC N
KHL N
LHLN
MIRAN
MRH N
NEH N
PEG N
REEFN
RPBHN
SIGVN
STAFN
TANGN
SHOTN
SHOTX
MARAN
RHTLN
CITKN
CITWN
BERUN
CITHN
ALHPN

MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
DiriSaviB
DefaultB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB
DiriSaviB

M
M
M
M
M
D
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M

ASCON
GUARN
CINVN
CFIN
CIT N
SHAWN
RHL N
RHL X
WAPON

MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
DiriSaviB

M
M
M
M
M
M
M
M
M

Price Performance
1W(%)
1M(%)
72.00 (0.28)
73.80
4.09
19.00
2.15
14.70 (2.65)
73.50 (11.99)
102.00
1.09
27.10 (1.81)
78.80 (1.50)
48.00
7.10 (6.58)
12.70
45.00 (0.22)
47.90
18.86
16.00 (3.03)
1275.00
36.40
1.68
14.00 (4.11)
29.50 (3.28)
59.40
45.90
9.29
80.00 (2.32)
28.90
1.05
17.60 (4.86)
5.20 (1.89)
13.50 (1.46)
5.50 (8.33)
7.50 (3.85)
1.80 (10.53)
21.90 (0.46)
7.50

129.70
175.00
77.00
90.70
105.00
258.00
31.40
22.00
28.50

(2.50)
2.45
(2.23)
(2.53)
(0.33)
(0.10)
(0.77)
(6.78)
0.35

2.29
1.10
(5.94)
(3.92)
(6.07)
13.33
(6.55)
3.68
(10.61)
(5.33)
1.60
(2.81)
(6.63)
3.90
(1.85)
3.70
(12.50)
(3.28)
4.21
(2.96)
21.03
(9.40)
(5.38)
(4.26)
(11.29)
(1.32)
(15.00)
1.40

1Q(%)

1Y(%)

9.98
6.80
5.56
(10.91)
1.14
19.86
(12.58)
6.49
(0.83)
(11.25)
4.96
4.65
5.27
5.89
0.28
(9.68)
11.32
9.80
24.39
21.21
7.84
17.33
(7.14)
1.50
(9.84)
15.38
(15.00)
(0.91)

(6.16)
(12.14)
2.15
(27.94)
(37.93)
36.18
(22.57)
(1.62)
(18.23)
(25.26)
(7.30)
(1.75)
(37.79)
(27.93)
(0.06)
(13.13)
(38.33)
(26.25)
(10.54)
33.82
23.50
(5.38)
(22.39)
(12.90)
(9.84)
25.00
(29.17)
19.78

(5.93) (6.44) (9.83)
(4.77) (0.99) (19.44)
(5.41) (7.89) (0.57)
(7.12) (2.53) (9.41)
(0.66) (9.30) (12.11)
(7.34) (13.75) (10.62)
2.38
6.13
2.10
(6.97) (2.54) (13.52)
(5.58)
2.33 (7.56)
(7.47) (2.40) (36.81)

17
A member of Asia Capital Group

Shares Trailing
Mn
ROE
336.29
48.03
129.60
171.83
10.82
0.90
52.80
5.86
5.63
577.50
1456.15
46.00
2.75
47.07
2.00
30.39
96.48
50.00
9.00
31.62
20.00
75.51
36.01
122.50
110.89
161.20
155.60
600.00
57.57
383.68

7.99
82.10
98.51
6.50
6.50
5.12
44.52
6.43
25.83

BVPS

14.73%
39.50
12.79%
56.22
4.38%
27.35
na
33.67
na 105.53
na 232.56
5.93%
43.76
15.95%
39.46
11.00%
57.80
2.44%
10.46
6.48%
11.77
3.72%
50.26
na
19.62
3.70%
19.37
9.67% 1282.05
7.34%
43.74
0.23%
29.66
5.60%
32.98
8.18%
70.44
11.25%
30.24
3.10% 121.50
8.79%
14.86
8.79%
14.86
na
6.78
14.84%
9.51
na
9.13
na
10.32
na
0.90
7.87%
15.09

11.05%
na
13.83%
14.84%
na
na
0.33%
14.10%
14.10%
na

69.00
166.41
81.47
207.85
227.78
446.05
45.55
45.55
19.12

Net Profit
4Qtrs
4,302.61
1,956.39
345.26
155.22
(190.69)
(354.17)
(38.88)
137.11
36.87
35.75
147.53
1,110.38
86.06
na
33.76
248.32
97.62
6.53
92.35
51.86
107.59
75.34
145.68
145.68
(34.05)
156.44
(147.22)
(12.81)
(13.96)
68.33

3,333.01
(2.50)
1,889.31
1,190.67
(11.08)
(22.06)
7.49
327.25
327.25
(46.05)

13 February 2014

Sep'13
664.26
311.68
93.68
25.62
(7.13)
(68.39)
(19.22)
(14.39)
0.98
4.71
48.79
248.62
8.28

Jun'13
(177.13)
261.80
40.29
37.53
-87.93
-65.91
-17.06
-19.46
-7.35
4.96
15.86
-102.42
-7.99

Mar'13
2,578.10
946.20
127.40
41.20
-79.30
-130.00
-4.20
97.40
26.50
21.70
42.30
741.80
57.10

Dec'12
1,237.38
436.71
83.89
50.87
(16.33)
(89.87)
1.60
73.56
16.74
4.38
40.58
222.37
28.67

8.91
85.04
4.55
(17.52)
7.86
14.65
(19.54)
12.23
(27.49)
(27.49)
(18.57)
36.09
(39.94)
(1.87)
(23.74)
10.35

-12.81
36.18
-2.61
-24.16
-10.09
-13.23
-18.78
-6.95
-64.66
-64.66
-43.49
-3.41
-38.30
-1.18
-24.82
-1.15

24.20
78.90
47.60
35.80
57.30
36.70
93.10
23.40
169.80
169.80
28.70
66.40
-27.20
-7.50
24.00
38.80

143.99
12.54
49.36
9.04
(2.09)
(15.45)
14.99
64.16
64.16
11.44

669.59
(6.45)
323.35
222.28
28.62
48.98
17.50
36.32
36.32
-1.01

1,994.81
(2.89)
1316.50
763.20
-39.90
-56.30
47.90
-36.30
-36.30
2.60

Trailing Trailing
EPS
PE

PBV Mkt Cap Mn

13.46
48.20
48.08
12.41
37.27
13.74
52.80
46.66
68.03
68.03
(0.70)
57.36
(41.77)
(2.26)
10.60
20.33

5.82
7.19
1.20
na
na
na
2.60
6.29
6.36
0.26
0.76
1.87
na
0.72
123.92
3.21
0.07
1.85
5.76
3.40
3.77
1.31
1.31
na
1.41
na
na
na
1.19

12.4
10.3
15.9
na
na
na
10.4
12.5
7.6
27.8
16.7
24.1
na
22.3
10.3
11.3
206.7
16.0
10.3
13.5
21.2
22.1
13.5
na
9.6
na
na
na
18.5

1.8
1.3
0.7
0.4
0.7
0.4
0.6
2.0
0.8
0.7
1.1
0.9
2.4
0.8
1.0
0.8
0.5
0.9
0.8
1.5
0.7
1.9
1.2
0.8
1.4
0.6
0.7
2.0
1.5

524.63
(5.70)
200.10
196.14
2.29
0.71
(72.90)
263.06
263.06
(59.08)

na
23.01
12.09
na
na
1.46
6.42
6.42
na

8.36
na
7.6
6.4
na
na
176.4
4.9
3.4
na

0.92
1.9
1.1
0.9
0.4
0.5
0.6
0.7
0.5
1.5

24,212.88
3,544.93
2,462.40
2,525.83
795.03
91.80
1,430.88
461.69
270.00
4,100.25
18,493.06
2,070.00
131.73
753.06
2,554.93
1,106.25
1,350.68
1,475.00
534.60
1,451.43
1,600.00
2,182.38
633.79
637.00
1,496.97
886.60
1,167.00
1,080.00
1,260.87
2,877.63

1,035.72
14,366.93
7,585.65
589.55
682.50
1,321.10
1,397.84
141.43
736.26

Weekly Review by Asia Securities Research

Company

Year
End

LAND AND PROPERTY
C T LAND
CARGO BOAT
CITY HOUSING
CEYLINCO SEYLAN
COLOMBO LAND
COMMERCIAL DEVELOP.
EAST WEST
EQUITY ONE
EQUITY TWO
HUEJAY
KELSEY DEVELOPMENTS
ON'ALLY HOLDINGS
OVERSEAS REALTY
PROPERTY DEVELOPMENT
SERENDIB LAND
YORK ARCADE
SERANDIB ENGINEERING GROUP
TOUCHWOOD

CTLDN
CABON
CHOUN
CSD N
CLNDN
COMDN
EASTN
EQITN
ETWON
HUEJN
KDL N
ONALN
OSEAN
PDL N
SLNDN
YORKN
IDL N
TWODN

MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
DiriSaviB
DiriSaviB

M
M
M
M
D
D
M
M
M
M
M
M
D
D
M
M
M
M

30.20
110.00
10.50
9.70
36.00
66.90
12.00
28.90
30.80
61.60
17.30
50.30
20.00
68.50
1071.00
13.60
89.50
2.90

CLOSED END FUND
NAMAL ACUITY VALUE FUND

NAVFU

MainB

M

72.00

Price Performance
1W(%)
1M(%) 1Q(%) 1Y(%)
(1.36)
(2.52)
6.16
17.54
(1.63)
(5.33)
5.96
15.71
2.80
12.24
25.00
(1.87)
(7.08) (9.48) (24.46)
(1.04)
(2.06) (1.04)
5.56
(3.48)
(8.14) (6.96)
6.18
(10.68)
(2.05)
2.76
1.98
3.42
- (0.82) (12.95)
4.71 (0.34) (8.25)
(3.14)
6.21
8.07
16.23
(19.79)
(3.90) (4.94) (12.13)
(2.26)
(6.49) (10.82)
16.11
5.67
(0.59)
7.94 (4.19)
(1.96)
2.04
12.99
41.84
6.86
(8.42)
32.50
49.24
(2.64) (11.00) (39.66)
(2.16)
(6.21) (6.85) (17.07)
(21.61)
(31.60) (36.45) (41.82)
(3.33)
11.54 (17.14) (58.57)
0.14

2.56

10.26

10.77

18
A member of Asia Capital Group

Shares Trailing
Mn
ROE
11.90%
48.75 11.61%
10.20 15.91%
13.38
na
147.96 0.75%
199.88 2.65%
12.00 21.73%
138.24
na
40.32 8.72%
31.00 8.21%
1.80
na
17.43 61.36%
17.50 6.56%
843.48 16.56%
66.00 13.15%
0.36 4.13%
12.00 6.65%
6.48
21%
106.91
3%

BVPS

55.20
155.35
10.26
28.89
13.52
103.78
9.76
42.32
19.36
na
12.66
60.88
27.69
45.69
642.94
13.53
25.81
30.78

Net Profit
4Qtrs
5,684.74
312.34
252.07
(48.82)
31.90
71.56
270.61
(17.48)
148.77
49.28
(2.75)
135.45
69.86
3,869.43
396.43
9.56
10.80
34.72
91.01

18.33%
10.75 18.33%

94.06

185.37
185.37

13 February 2014

Sep'13
967.85
43.81
(19.60)
(2.34)
15.78
2.79
19.84
8.87
10.35
1.86
(2.51)
19.55
748.45
104.16
1.94
0.40
14.53

(25.95)
(25.95)

Jun'13
1,174.97
42.93
228.52
(10.97)
23.64
6.64
26.60
1.69
9.86
2.95
(1.31)
166.76
19.81
534.29
97.16
2.66
0.42
5.69
17.63

Mar'13
883.13
190.85
18.11
(41.42)
22.88
(3.31)
25.07
(20.74)
121.32
44.86
(1.32)
(9.86)
12.93
475.67
93.03
2.36
6.54
12.23
(66.07)

Dec'12
2,532.48
34.76
25.04
5.90
(30.39)
65.45
199.09
(7.30)
7.25
(0.39)
(1.12)
(18.94)
17.58
2,111.02
102.08
2.59
3.44
2.27
14.15

75.91
75.91

17.45
17.45

(38.39)
(38.39)

Trailing Trailing
EPS
PE
7.34
6.41
4.7
24.71
4.5
na
na
0.22
45.0
0.36
100.5
22.55
3.0
na
na
3.69
7.8
1.59
19.4
na
na
7.77
2.2
3.99
12.6
4.59
4.4
6.01
11.4
26.55
40.3
0.90
15.1
5.36
16.69
0.85
3.41

17.24

4.2
4.2

PBV Mkt Cap Mn
0.87
0.5
0.7
1.0
0.3
2.7
0.6
1.2
0.7
1.6
na
1.4
0.8
0.7
1.5
1.7
1.0
3.5
0.1

1,472.25
1,122.00
140.49
1,435.26
7,195.72
802.80
1,658.88
1,165.30
954.80
110.88
301.53
880.29
16,869.69
4,521.00
385.56
163.20
579.66
310.03

0.8
0.8

774.09
774.09

Weekly Review by Asia Securities Research

Company

Year
End

MANUFACTURING
ABANS
ACL CABLES
ACL PLASTICS
ACME
ALUFAB
BLUE DIAMONDS [V]
BLUE DIAMONDS [NV]
BOGALA GRAPHITE
CENTRAL INDUSTRIES
GRAIN ELEVATORS
CHEVRON LUBRICANTS
DANKOTUWA
DIPPED PRODUCTS
HAYLEYS FIBRE
KELANI CABLES
KELANI TYRES
LANKA ALUMINIUM
LANKA CEMENT
LANKA CERAMIC
LANKA FLOORTILES
LANKA WALLTILES
LAXAPANA
SWISSTEK (CEYLON) PLC
PIRAMAL GLASS
PRINT CARE
REGNIS
RICH PIERIS EXPORTS
ROYAL CERAMICS
SAMSON INTERNATIONAL
SINGER INDUSTRIES
SWADESHI
TOKYO CEMENT [V]
TOKYO CEMENT [NV]
SIERRA CABLES
TEXTURED JERSEY
AGSTAR FERTILIZERS LIMITED
AGSTAR FERTILIZERS LIMITED
ORIENT GARMENTS

ABANN
ACL N
APLAN
ACMEN
ALUFN
BLUEN
BLUEX
BOGAN
CINDN
GRANN
LLUBN
DPL N
DIPDN
HEXPN
KCABN
TYREN
LALUN
LCEMN
CERAN
TILEN
LWL N
LITEN
PARQN
GLASN
CAREN
REG N
REXPN
RCL N
SIL N
SININ
SWADN
TKYON
TKYOX
SIRAN
TJL N
AGSTN
AGSTX
OGL N

MainB
MainB
MainB
MainB
DefaltB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
DiriSaviB
DiriSaviB
DiriSaviB

M
M
M
M
M
M
M
D
M
D
D
D
M
M
M
M
M
D
M
M
M
M
M
M
M
D
M
M
M
D
M
M
M
M
M
M
M
M

107.70
65.00
77.30
9.50
14.60
3.30
1.10
20.00
60.50
34.60
280.50
12.50
88.10
28.00
84.00
53.10
29.50
6.80
103.70
75.00
67.80
3.70
21.10
4.00
28.00
66.00
56.30
88.00
90.30
115.00
15000.00
34.70
28.50
1.70
15.30
4.7
15
8.8

Price Performance
1W(%)
1M(%) 1Q(%) 1Y(%)
(2.33)
(1.16)
2.86
10.66
(3.23)
(6.34)
6.29
8.49
(4.41)
(5.80)
- (2.99)
(7.98)
(10.12) (12.06) (22.70)
(1.05)
(6.00) (4.08) (32.37)
(0.68)
(2.67) (14.12) (27.00)
(3.03)
(8.57)
6.67 (13.51)
(8.33)
(8.33) (8.33) (35.29)
1.52
1.01
0.50 (16.67)
3.27
(1.80)
4.71 (9.23)
(3.35)
(10.59) (7.49) (30.80)
(2.88)
1.52
6.62
28.78
(4.55)
(5.26) (10.00) (25.44)
(0.45)
(2.11) (2.11) (22.72)
(6.04)
(3.45)
9.38 (17.16)
4.74
7.69
20.00
20.52
(2.57)
(3.28)
7.49
58.51
2.43
(2.64)
8.86 (13.24)
(2.82)
(2.82) (6.76) (23.33)
(2.17) (13.44)
55.94
(2.60)
2.18
0.67
13.64
1.95
25.09
16.70
(5.13)
(9.76) (9.76) (37.29)
10.53
14.13
43.84
(9.09)
(11.11) (16.67) (35.48)
(14.20)
(3.33) (1.69) (1.69)
(0.45)
(3.80)
0.61
8.03
0.36
11.26
37.32
65.59
2.44
(1.01) (0.90) (11.91)
0.22
0.33
2.61
0.33
2.45
(6.86)
2.27 (16.52)
(21.05)
(21.05) (21.05)
82.93
1.76
7.12
30.57
38.40
4.83
4.44
28.77
52.43
(5.26)
(10.00) (5.26) (21.74)
(1.29)
(3.16)
50.00
(2.08)
(2.08) (9.62) (20.34)
8.64
10.00
22.22 (20.00)

19
A member of Asia Capital Group

Shares Trailing BVPS
Mn
ROE
15.73%
5.11 23.40% 115.79
59.89 9.13%
97.63
4.21 7.32% 150.38
25.61
na
16.71
12.06
na
21.36
103.30
na
1.15
153.37
na
1.15
47.32
na
0.38
9.88 7.12%
94.60
60.00
na
46.56
120.00 47.00%
44.56
72.25
na
10.96
59.86 17.94% 121.73
8.00 5.89%
55.90
21.80 9.55% 103.70
80.40 28.71%
24.57
13.70 0.84%
42.15
173.51
na
0.02
30.00 10.35%
92.22
53.05 20.93%
61.45
54.60 9.45%
96.33
39.00 7.52%
3.88
27.37 2.92%
22.78
950.09 19.82%
3.67
85.97 11.98%
26.64
11.27 12.89%
72.48
11.16 82.73%
17.54
110.79 13.02%
76.53
3.85 9.43% 107.43
3.85 2.56% 236.12
0.13 26.54% 1122.72
222.75 23.23%
24.25
111.38 23.23%
24.25
537.51 0.49%
3.08
655.00 18.87%
9.64
307.53 8.26%
6.91
17.47 8.26% 121.68
54.92
na
15.99

Net Profit
4Qtrs
Sep'13
12,326.37 2,789.39
138.49
20.47
533.64
102.32
46.37
18.06
(46.69)
(21.03)
na
(22.95)
1.06
(22.95)
1.06
(0.47)
(10.40)
66.54
11.80
(94.03)
59.75
2,513.19
609.41
(16.95)
4.36
1,307.62
69.60
26.33
6.50
215.93
83.01
567.12
187.53
4.83
20.63
(5.25)
(0.58)
286.32
104.97
682.21
183.37
496.97
174.00
11.38
3.69
18.22
14.33
691.66
18.72
274.35
94.93
105.28
22.75
161.96
67.41
1,103.57
112.26
38.99
16.74
23.29
3.07
38.94
10.98
1,882.20
611.53
1,882.20
611.53
8.20
21.12
1,191.50
263.35
175.53
(12.79)
175.53
(12.79)
(97.93)
(83.54)

13 February 2014

Jun'13
2,592.83
28.76
88.15
10.95
(23.18)

Mar'13
3,862.87
42.66
99.28
7.60
(7.89)

Dec'12
3,081.28
46.61
243.88
9.76
5.40

(6.87)
(6.87)
2.58
10.48
58.16
562.51
(9.07)
413.88
8.69
47.41
148.61
1.07
0.58
(44.66)
72.02
(61.76)
4.79
(1.16)
358.03
43.54
21.17
44.40
(79.59)
3.44
3.26
10.89
598.40
598.40
(12.38)
240.22
101.62
101.62
(52.12)

(6.84)
(6.84)
15.60
25.87
17.52
769.86
0.62
379.48
7.30
60.12
114.58
(11.87)
(1.10)
137.18
265.67
260.77
2.72
17.33
110.79
74.60
41.74
24.57
573.70
6.49
6.14
25.18
447.63
447.63
(1.23)
322.95
(20.04)
(20.04)
53.90

(10.30)
(10.30)
(8.25)
18.39
(229.44)
571.41
(12.87)
444.7
3.85
25.38
116.40
(4.99)
(4.15)
88.83
161.15
123.96
0.18
(12.27)
204.1
61.28
19.62
25.58
497.19
12.32
10.83
(8.12)
224.64
224.64
0.69
365.0
106.74
106.74
(16.16)

Trailing Trailing PBV Mkt Cap Mn
EPS
PE
9.14 1.44
27.10
4.0
0.9
550.41
8.91
7.3
0.7
3,893.09
11.01
7.0
0.5
325.63
na
na
0.6
243.33
na
na
0.7
176.05
na
na
2.9
340.89
na
na
1.0
168.71
na
na 52.1
946.33
6.73
9.0
0.6
597.99
na
na
0.7
2,076.00
20.94
13.4
6.3
33,660.00
na
na
1.1
903.07
21.84
4.0
0.7
5,273.80
3.29
8.5
0.5
224.00
9.90
8.5
0.8
1,831.20
7.05
7.5
2.2
4,269.24
0.35
83.7
0.7
404.23
na
na 276.1
1,179.87
9.54
10.9
1.1
3,111.00
12.86
5.8
1.2
3,978.78
9.10
7.4
0.7
3,701.88
0.29
12.7
1.0
144.30
0.67
31.7
0.9
577.55
0.73
5.5
1.1
3,800.34
3.19
8.8
1.1
2,407.07
9.34
7.1
0.9
743.68
14.51
3.9
3.2
628.52
9.96
8.8
1.1
9,749.47
10.13
8.9
0.8
347.47
6.06
19.0
0.5
442.32
298.00
50.3 13.4
1,959.99
5.63
6.2
1.4
7,729.43
5.63
5.1
1.2
3,174.19
0.02
111.4
0.6
913.77
1.82
8.4
1.6
10,021.54
0.57
8.2
0.7
1,445.37
10.05
1.5
0.1
262.11
na
na
0.6
483.27

Weekly Review by Asia Securities Research

Company

Year
End

MOTORS
AUTODROME
COLONIAL MOTORS
DIMO
LANKA ASHOK
SATHOSA MOTORS
UNITED MOTORS

AUTON
COLON
DIMON
ASHON
SMOTN
UML N

MainB
MainB
MainB
MainB
MainB
MainB

M
M
M
M
M
M

900.00
85.00
520.00
1400.10
230.00
125.00

OIL PALMS

Price Performance
1W(%)
1M(%)
(0.68)
1.53
0.62
(5.37)
2.16
2.41
(0.57)
0.33
(5.84)
(2.13)
(8.00)
(1.50)
10.22
(0.98)

(3.81)

1Q(%) 1Y(%)
6.60 (3.26)
(0.08)
0.16
(2.52) (39.50)
7.22 (12.68)
(0.18) (25.13)
2.68 (8.00)
14.25
30.31

Shares Trailing
Mn
ROE
9.29%
1.20 2.78%
15.20
na
8.88 0.95%
3.62 3.54%
6.03 24.63%
67.27 22.34%

(9.86) (12.20)

4.77%

BVPS

770.83
218.11
870.76
647.52
155.04
117.37

Net Profit
4Qtrs
2,150.00
25.68
(25.79)
73.05
82.93
230.42
1,763.71

13 February 2014

Sep'13
398.08
3.98
(245.66)
47.59
57.46
58.79
475.91

2,994.26

Jun'13
760.38
7.25
39.66
28.90
25.26
48.91
610.40

Mar'13
639.40
6.30
174.60
-8.00
-143.10
69.40
540.20

Dec'12
352.13
8.1
5.60
4.56
143.31
53.32
137.20

Trailing Trailing
EPS
PE
10.16
21.40
42.1
na
na
8.23
63.2
22.90
61.1
38.19
6.0
26.22
4.8

PBV Mkt Cap Mn

998.24

2,255.03

1,182.34

31.0

1.5

0.94
1.2
0.4
0.6
2.2
1.5
1.1

1,080.00
1,292.00
4,615.75
5,069.54
1,387.73
8,408.39

(1,441.35)
BUKIT DARAH

BUKIN

MainB

M

GOOD HOPE
INDO MALAY
SELINSING
SHALIMAR

GOODN
INDON
SELIN
SHALN

MainB
MainB
MainB
MainB

M
M
M
M

PLANTATIONS
AGALAWATTE
BALANGODA
BOGAWANTALAWA
HAPUGASTENNE
HORANA PLANTATION
KAHAWATTE
KEGALLE
KELANI VALLEY
KOTAGALA
MADULSIMA
MALWATTE VALLEY
MALWATTE VALLEY
MASKELIYA
NAMUNUKULA
TALAWAKELLE
UDAPUSSELLAWA
WATAWALA PLANTATIONS
ELPITIYA
MET.RES.HOL
AITKEN SPENCE PLANTATION
MANAGEMENTS

AGALN
BALAN
BOPLN
HAPUN
HOPLN
KAHAN
KGALN
KVALN
KOTAN
MADUN
MAL N
MALX
MASKN
NAMUN
TPL N
UDPLN
WATAN
ELPLN
MPRHN
ASPMN

MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
MainB
DiriSaviB
MainB
DiriSaviB
DiriSaviB
DiriSaviB

D
D
M
D
M
D
M
D
M
D
D
D
M
M
D
D
M
M
M
M

ASHAN
AMSLN
ASIRN
CHL N
CHL X
LHCLN
NHL N

DiriSaviB
MainB
MainB
MainB
MainB
MainB
MainB

M
M
M
M
M
M
M

HEALTH SERVICES
ASIRI CENTRAL
ASIRI SURGICAL
ASIRI HOSPITAL
CEYLON HOSPITALS [V]
CEYLON HOSPITALS [NV]
LANKA HOSPITALS
NAWALOKA

600.00

(1.59)

(2.85) (11.07) (17.76)

5.62%

381.36

2,187.74

511.06

2,146.35

1,071.82

21.45

28.0

1.6

61,200.00

115.50
116.61
137.43
117.64

21.97
21.68
37.10
27.93

18.19
20.07
44.32
27.94

24.84
25.30
36.94
29.18

45.5
59.3
28.0
30.8

1.3
1.9
1.1
1.1

7,764.58
10,497.60
7,182.98
6,246.07

0.88
-

(5.83) (12.94) (16.30)
7.14 (1.64)
9.49
(17.07) (17.20)
3.48
(9.09)
4.65
11.94

6.87
7.00
6.94
6.94

2.95%
3.13%
3.85%
3.54%

840.49
809.08
960.21
825.28

170.65
177.06
256.34
202.48

(1,541.49)
14.98
18.70
37.49
28.97

(1.21)
25.00
30.10
1.35
9.20 (4.12)
32.60 (1.21)
23.00 (3.35)
38.00 (2.06)
99.60 (1.39)
77.70 (0.38)
36.20 (1.36)
11.40
0.88
4.40
3.90 (2.50)
10.50 (4.55)
85.00
0.12
27.60 (3.83)
24.90 (4.23)
9.90 (1.98)
18.40
4.57
20.00 (10.71)
45.50
-

(3.88)
0.58 (8.89)
6.38
8.23 (23.08)
(8.51) (2.90) (19.30)
(12.26) (6.06) (28.46)
(3.55)
2.52 (9.94)
(4.94)
2.21 (13.16)
- (0.52)
15.50
(1.09)
3.00 (8.29)
(7.28) (1.40) (8.59)
(5.48) (9.50) (35.59)
(7.26) (3.36) (14.81)
(4.35) (6.38) (4.35)
(4.88) (13.33) (13.33)
(12.50) (11.02) (19.85)
(9.09)
16.28
15.65
4.15
19.48
6.15
(10.11) (4.23) (12.94)
(2.94) (1.98) (18.18)
5.17
10.24 (1.61)
(8.68) (14.53) (20.63)
-

25.00
23.64
83.75
46.32
25.00
79.89
25.00
34.00
40.00
29.00
202.79
20.25
53.95
23.75
23.75
19.40
236.67
72.87
17.26
21.30

9.72%
19.68%
3.24%
19.81%
5.29%
7.46%
1.73%
14.90%
15.21%
na
na
11.85%
11.85%
0.54%
20.19%
18.71%
na
12.35%
10.68%
13.64%
17.75%

45.17
114.26
10.77
36.96
59.91
13.43
128.43
75.89
79.67
57.11
9.91
9.91
25.30
81.70
57.64
25.51
17.30
35.73
63.61
81.35

3,554.71
222.24
87.43
178.66
90.50
111.74
18.55
478.52
392.46
(33.70)
(78.17)
261.93
261.93
7.36
391.88
256.14
(71.75)
505.61
277.97
149.80
307.54

245.00
14.78
40.91
(8.17)
28.28
24.78
17.50
125.06
33.85
(246.17)
(88.59)
93.26
93.26
(120.98)
111.33
8.86
(59.19)
87.18
100.00
(4.31)
86.63

(139.35)
(98.8)
45.7
(27.3)
67.52
(43.85)
(70.41)
89.27
8.57
(91.70)
(63.48)
109.51
109.51
(84.48)
47.08
(3.02)
1.95
11.40
(13.61)
(19.80)
(3.94)

1,291.78
1.5
11.4
67.9
41.56
47.65
72.32
95.43
150.98
113.22
14.17
51.05
51.05
88.93
86.27
85.40
29.40
124.84
66.12
66.99
76.66

2,157.29
304.74
(10.62)
146.26
(46.86)
83.2
(0.86)
168.76
199.06
190.95
59.74
8.11
8.11
123.89
147.20
164.90
(43.91)
282.2
125.46
106.93
148.19

8.89
3.70
2.13
1.95
4.47
0.23
19.14
11.54
na
na
1.17
1.17
0.14
16.50
10.79
na
2.14
3.81
8.68
14.44

6.4
2.8
8.1
4.3
16.7
5.1
163.6
5.2
6.7
na
na
3.7
3.3
77.0
5.2
2.6
na
4.6
4.8
2.3
3.2

0.63
0.6
0.3
0.9
0.9
0.4
2.8
0.8
1.0
0.5
0.2
0.4
0.4
0.4
1.0
0.5
1.0
0.6
0.5
0.3
0.6

625.00
711.45
770.50
1,509.89
575.00
3,035.81
2,490.00
2,641.80
1,448.00
330.60
892.29
78.98
566.51
2,018.75
655.50
483.03
2,343.00
1,340.74
345.30
969.15

22.33
528.46
1099.09
25.53
8.35
223.73
1409.51

18.20%
na
48.30%
15.95%
10.41%
10.41%
14.17%
12.73%

91.31
6.80
5.31
72.7
72.7
17.80
2.76

3,991.31
(3.46)
1,734.76
930.14
270.95
270.95
564.18
494.74

597.72
1.81
101.31
232.09
64.69
64.69
122.21
75.60

653.63
(10.77)
109.98
209.24
77.62
77.62
167.53
100.04

847.06
(19.57)
157.58
268.52
74.16
74.16
175.32
191.05

1,892.90
25.07
1,365.90
220.29
54.48
54.48
99.12
128.05

na
3.28
0.85
8.00
8.00
2.52
0.35

12.7
na
3.6
23.0
14.6
10.5
16.8
8.8

2.31
2.7
1.7
3.7
1.6
1.2
2.4
1.1

5,583.49
6,182.95
21,432.30
2,986.69
701.02
9,486.24
4,369.47

1130.00
1500.00
1035.00
900.00

250.00
11.70
19.50
117.00
84.00
42.40
3.10

(1.53)
(3.92)
(0.85)
(1.50)
8.74
1.33
(2.75)
(3.13)

7.85
10.37
(3.85) (13.79)
9.35
13.59
21.60
24.68
1.74
7.34
(1.53)
11.60
(8.03)
2.66
6.90
3.33

29.06
4.17
30.00
60.16
15.84
16.25
11.58
3.33

20
A member of Asia Capital Group

102.00

Weekly Review by Asia Securities Research

Company

Year
End

SERVICES
JOHN KEELLS LIMITED
LAKE HOUSE PRINTING
MERC. SHIPPINGS
CEYLON PRINTERS
KALAMAZOO
PARAGON
CEYLON TEA BROKERS
ASIA SIYAKA COMMODITIES

JKL N
LPRTN
MSL N
CPRTN
KZOON
PARAN
CTBLN
ASIYN

MainB
MainB
MainB
MainB
MainB
MainB
DiriSaviB
DiriSaviB

M
M
M
M
M
M
M
M

72.00
100.00
129.00
1799.90
980.00
783.30
4.20
3.10

STORES AND SUPPLIES
COLOMBO CITY HOLDINGS
E B CREASY
GESTETNER
HUNTERS

PHARN
EBCRN
GESTN
HUNTN

MainB
MainB
MainB
MainB

M
M
M
M

500.00
986.50
133.10
270.30

TRADING
BROWNS
C W MACKIE
CEYLON FOREIGN TRADES
EASTERN MERCHANTS
ENVIRONMENTAL RESOURCES
RADIANT GEMS
SINGER SRI LANKA
OFFICE EQUIPMENT
TESS AGRO

BRWNN
CWMN
CFT N
EMERN
GREGN
RGEMN
SINSN
OFEQN
TESSN

MainB
MainB
MainB
DefaultB
MainB
MainB
MainB
MainB
DiriSaviB

M
D
M
M
M
M
D
M
M

POWER & ENERGY
HEMAS POWER
LANKA IOC
VIDULLANKA
VALLIBEL POWER
LAUGFS GAS
LAUGFS GAS [NV]
HYDRO POWER
PANASIAN POWER
MACKWOODS ENERGY LIMITED

HPWRN
LIOCN
VLL N
VPELN
LGL N
LGL X
HPFLN
PAP N
MEL N

MainB
MainB
MainB
MainB
DiriSaviB
DiriSaviB
MainB
MainB
DiriSaviB

M
M
M
M
M
M
M
M
M

Price Performance
1W(%)
1M(%) 1Q(%) 1Y(%)
(1.01)
(1.73) (2.23) (2.86)
(0.41)
(0.69) (1.50)
7.62
(11.50)
(2.91) (4.76) (3.85)
(6.72) (5.08) (29.78)
2.85
40.62
(4.40)
(10.39) (9.56) (54.89)
4.44
7.66 (27.47) (13.04)
(2.33)
(4.55)
2.44 (20.75)
(3.13) (3.13) (16.22)
0.24
0.05
(0.15)
0.79

Sep'13
(1.53)
(16.29)
4.74
(38.06)
2.77
(0.12)
(0.04)
21.42
24.05

Jun'13
77.45
78.17
2.30
(44.46)
(0.01)
0.50
0.37
14.80
25.79

Mar'13
590.26
560.02
(3.72)
(21.05)
0.40
(0.19)
(0.57)
16.72
38.65

Dec'12
60.61
48.66
1.02
(13.30)
(1.90)
(0.45)
0.30
5.10
21.17

Trailing Trailing
EPS
PE
8.96
11.03
6.5
1.48
67.7
na
na
35.82
50.3
na
na
0.63 1243.7
0.51
8.2
0.42
7.4

2.13%
1.27 3.02% 730.56
2.54 2.11% 1193.13
2.28 35.67%
45.32
5.15 0.22% 431.34

133.58
28.08
63.69
36.83
4.98

(128.79)
0.15
(154.15)
8.18
17.03

(70.80)
(4.25)
(51.28)
2.98
(18.25)

110.66
36.41
80.69
12.94
(19.38)

222.51
(4.23)
188.43
12.73
25.58

22.06
25.12
16.16
0.97

PBV Mkt Cap Mn
1.53
1.4
1.1
3.2
4.8
1.5
12.2
2.9
1.5

4,377.60
293.72
367.00
63.01
49.00
78.35
478.80
806.00

36.17
22.7
39.3
8.2
279.2

0.77
0.7
0.8
2.9
0.6

636.43
2,501.23
303.22
1,390.69

3.06%
70.88 4.14%
35.99 9.11%
140.20 1.20%
117.45
na
349.37
na
2.40
na
125.21 11.51%
0.08 3.55%
280.00
na

198.43
45.53
6.33
8.86
22.95
5.38
38.94
573.67
1.20

947.47
581.58
149.23
10.66
(87.56)
(272.92)
(11.44)
561.00
15.23
1.70

(279.09)
(369.80)
45.73
0.71
(11.08)
(13.03)
(1.08)
62.79
3.65
3.02

849.79
682.21
39.04
6.30
(8.36)
(0.43)
(3.24)
129.19
2.82
2.27

669.64
768.13
46.85
1.10
(28.16)
(291.18)
(3.40)
174.84
6.96
(5.50)

(292.87)
(498.97)
17.61
2.55
(39.95)
31.72
(3.72)
194.18
1.80
1.91

8.21
4.15
0.08
na
na
na
4.48
20.36
na

28.08
11.1
13.7
77.6
na
na
na
20.1
113.0
na

0.86
0.5
1.3
0.9
0.8
0.6
8.2
2.3
4.0
1.1

6,456.71
2,051.35
827.16
880.85
4,471.90
105.60
11,256.34
191.72
364.00

(0.11)
0.26
2.86
(1.69)
0.30
(1.24)
(5.88)
(9.86)

(0.10)
16.65
31.79
(5.35)
0.57 (19.55)
0.78
35.42
85.71
- (2.70)
(3.33) (1.69) (6.45)
3.13
10.03
26.54
(1.24)
13.33
26.60
(5.88) (11.11) (20.00)
(8.00) (8.00) (14.81)
(16.88) (20.00) (41.82)

125.20
532.53
477.27
747.11
335.00
52.00
109.09
500.00
100.00

23.61%
11.71%
28.50%
17.76%
31.25%
21.89%
21.88%
1.20%
15.88%
6.01%

23.26
28.79
2.21
2.67
17.52
17.52
7.18
1.96
7.02

7,212.27
340.95
4,368.90
187.56
622.94
1,484.25
1,483.92
9.41
156.05
42.21

2,579.54
92.19
1,485.31
71.96
256.88
619.88
619.88
20.01
24.31
9.00

2,103.17
101.93
1,349.62
65.52
237.22
270.66
270.33
9.90
62.50
5.83

1,306.53
71.22
805.89
13.96
12.16
364.72
364.72
(12.46)
30.26
20.78

1,223.03
75.61
728.08
36.12
116.69
228.99
228.99
(8.04)
38.98
6.60

2.72
8.20
0.39
0.83
3.84
3.83
0.09
0.31
0.42

6.06
6.5
4.8
9.2
7.0
8.6
6.2
55.6
7.4
15.2

1.43
0.8
1.4
1.6
2.2
1.9
1.4
0.7
1.2
0.9

2,203.52
20,875.17
1,718.17
4,333.24
11,055.00
1,237.60
523.62
1,150.00
640.00

(1,081.48)

(555.26)

(141.61)

(387.13)

2.52

-1.72

2.16

17.60
39.20
3.60
5.80
33.00
23.80
4.80
2.30
6.40

E-CHANNELLING
PC HOUSE

ECL N
PCH N

DiriSaviB M
MainB
M

13.80
0.50

(6.16)
-

TELECOMMUNICATIONS
DIALOG TELEKOM
SRI LANKA TELECOM

DIALN
SLTLN

MainB
MainB

9.20
42.50

4.34
(2.13)
11.55

(3.71)

37.95 (25.27)

(2.14)
57.47
87.67
(16.67) (37.50) (89.80)
7.28
15.49

5.33
1.10
9.82

(2.16)
(3.16)
(1.16)

125.92%
122.13 44.73%
343.40
na

1.10
2.11

60.21
(1,141.69)

42.06
(597.32)

16.85
(158.46)

7.90
(395.03)

(6.60)
9.12

0.49
na

28.0
na

12.5
0.2

1,685.41
171.70

10.23%
8143.78 12.96%
1804.86 8.37%

4.74
31.51

9,764.98
5,006.98
4,758.00

3,104.45
1,533.45
1,571.00

1,674.34
950.34
724.00

3,180.52
1,594.52
1,586.00

1,805.68
928.68
877.00

0.61
2.64

15.53
15.0
16.1

1.59
1.9
1.3

74,922.76
76,706.55

Trailing EPS: Trailing 4 quarters earnings per share
Trailing PE: Trailing 4 quarters price to earnings ratio
PBV: Price to book ratio based on most recent quarter book value

21
A member of Asia Capital Group

51.48
90.16
40.44
374.75
654.60
64.18
1.45
2.01

Net Profit
4Qtrs
726.79
670.56
4.34
(116.87)
1.25
(0.26)
0.06
58.05
109.66

(2.82)
0.06 (16.48)
1.22
2.02 (25.75)
(11.21) (4.20) (14.03)
(9.23) (9.23)
1.72
(8.54) (6.25) (27.88)
(7.91) (12.33) (26.44)
(8.71)
11.68 (24.14)
(2.28)
0.78 (10.28)
3.01 (14.65) (19.30)
(7.14) (13.33) (43.48)

(5.62)

ROE:Trailing 4 quarters return on equity
BVPS: Most recent quarter book value per share
Net Profit: Trailing 4 quarters net profit

0.43 (8.70)
4.82
4.95 (1.35)
(8.84) (33.45)
(6.61) (16.53)

BVPS

(1.03)
91.10
0.77
57.00 (7.92)
5.90 (3.28)
7.50 (2.60)
12.80 (6.57)
44.00 (12.00)
89.90 (0.33)
2300.00
1.30
-

INFORMATION TECHNOLOGY

D
D

(2.20)
(7.39)
(1.08)
1.99
(2.55)

Shares Trailing
Mn
ROE
17.10%
60.80 21.42%
2.94 1.64%
2.84
na
0.04 9.56%
0.05
na
0.10 0.98%
114.00 35.00%
260.00 20.96%

13 February 2014

Price Performance 1W(%):one week price percentage change
Price Performance 1M(%):one month price percentage change
Price Performance 1Q(%):one qurter price percentage change
Price Performance 1Y(%):one year price percentage change

Weekly Review by Asia Securities Research

13 February 2014

Disclaimer
The report has beenprepared by Asia Securities (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 good faith. Such 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 change without notice. This document is for information purposes only, descriptions of any
company or companies or their securities mentioned herein are not intended to be complete and this document is not, and should not be construed as, an offer, or solicitation of an offer, to buy or
sell any securities or other financial instruments. In no event will Asia Securities (Private) Limited be liable for any loss or damage including without limitation, indirect or consequential loss or
damage, or any loss or damage whatsoever arising out of, or in connection with the use of this report and any reliance you place on such information is therefore strictly at your own risk.
Asia Securities (Private) Limited may, to the extent permissible by applicable law or regulation, use the above material, conclusions, research or analysis in which they are based before the material
is disseminated to their customers. Not all customers will receive the material at the same time. Asia Securities (Private) Limited, their respective directors, officers, representatives, employees,
related persons and/or Asia Securities (Private) Limited, may have a long or short position in any of the securities or other financial instruments mentioned or issuers described herein at any time
and may make a purchase and/or sale, or offer to make a purchase and/or sale of any such securities or other financial instruments from time to time in the open market or otherwise, in each case
either as principal or agent. Asia Securities (Private) Limited may make markets in securities or other financial instruments described in this publication, in securities of issuers described herein or
in securities underlying or related to such securities. Asia Securities (Private) Limited may have recently underwritten the securities of an issuer mentioned herein. The information contained in this
report is for general information purposes only. This report and its content is copyright of Asia Securities (Private) Limited and all rights reserved. This report- in whole or in part- may not, except
with the express written permission of Asia Securities (Private) Limited be reproduced or distributed or commercially exploited in any material form by any means whether graphic, electronic,
mechanical or any means. Nor may you transmit it or store it in any other website or other form of electronic retrieval system. Any unauthorised use of this report will result in immediate
proceedings.

22
A member of Asia Capital Group

Research
Manager - Research
Balakrishnan Nirmalan

Assistant Manager -Research

(94-11)5320362

nirmalan@asiacapital.lk

(94-11)5320259

prashanthan@asiacapital.lk

Corporates
J. Prashanthan

Amali Perera

(94-11)5320256

amali@asiacapital.lk

(94-11)5320254

dhanusha@asiacapital.lk

(94-11)5320257

nuwan@asiacapital.lk

Economy
Dhanusha Pathirana

Statistics
Nuwan Pradeep

Sales
Institutional Sales
Sabri Marikar
NiroshanWijayakoon
Manjula Kumarasinghe
Chelaka Hapugoda
Chaminda Mahanama
NiroshanRathnam
Jeevan Hettigoda
FarajFouz
MiflalFarook

Retail Sales
(94-11) 5320224
(94-11) 5320208
(94-11) 5320211
(94-11)5320240
(94-11) 5320223
(94-11) 5320242
(94-11) 5320220
(94-11) 5320210
(94-11) 5320247

077 3-576868
0777-713645
0777 -874310
0777 -256740
0777 -556582
0773 -717515
0773-691256
0773 -810159
0772-253730

sabri@asiacapital.lk
niroshan@asiacapital.lk
manjula@asiacapital.lk
chelaka@asiacapital.lk
mahanama@asiacapital.lk
ratnam@asiacapital.lk
jeevan@asiacapital.lk
faraj@asiacapital.lk
miflal@asiacapital.lk

Shiyam Subaulla
PriyanthaHingurage
Subeeth Perera
Neluka Rodrigo
GaganiJayawardhana
Shamal Perera
Nuwan Eranga
Romesh Priyadarshana
RukshanLiyanage
Nathasha Munasinghe
Iresha Fernando
SharikaRathnayake
Asanka Chaminda
RuchiraHasantha

(94-11)5320218
(94-11)5320217
(94-11)5320227
(94-11)5320214
(94-11)5320236
(94-11)5320219
(94-11)5320246
(94-11)5320228
(94-11)5320235
(94-11)5320231
(94-11)5320232
(94-11)5320209
(94-11)5320216
(94-11)5320229

0773-502016
0773-502015
0714-042683
0777-366280
0714-084953
077-3717558
0777-368012
0772-548795
0773-413297
0777-569266
0777-359012
0777-567994
0777-566959
0773-687027

shiyam@asiacapital.lk
priyantha@asiacapital.lk
subeeth@asiacapital.lk
neluka@asiacapital.lk
gagani@asiacapital.lk
shamal@asaiacapital.lk
eranga@asiacapital.lk
priyadarshana@asiacapital.lk
rukshan@asiacapital.lk
nathasha@asiacapital.lk
iresha@asiacapital.lk
sharika@asiacapital.lk
chaminda@asiacapital.lk
ruchira@asiacapital.lk

Branches
CSE Floor

CSE,01-04, World Trade Centre, Colombo – 1.

ThusharaAdhikari
M G Suranjana

(011)-5735122
(011)-5763539

0773-688202
0773-954994

adhikari@asiacapital.lk

Kurunegala

Union Assurance Building, No.6,1stFloor,Rajapilla Rd, Kurunagala.

AsankaSamarakoon
GayanNishsanka

(037)-5628844
(037)-5642717

0773-690749
0777-105356

asanka@asiacapital.lk
nishshanka@asiacapital.lk

Matara

E.H.Cooray Building, Mezzanine Floor, No:24,

(041)-5677525

0773-687307

sumeda@asiacapital.lk

AnagarikaDarmapala Mw, Matara

SumedaJayawarden
a
MaheshaMadurangi

(041)-5620727

mahesha@asiacapital.lk

Negombo

Asia Asset Finance, 171/1, Station Road, Negombo.

UthpalaKarunatilake
Gayan Perera

(031)-5676881
(031)-5676880

0773-691685
0777-598937

uthpala@asiacapital.lk
gayand@asiacapital.lk

Moratuwa

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

Ashan Silva
Charith Perera

(011)-5238662
(011)-5238663

077-0458028
0773-598937

ashan@asiacapital.lk
charithn@asiacapital.lk

Kandy

132 2/7, Hill City Complex,

NilupulHettiarachch
i

(081)-5628500

0777-410164

nilupul@asiacapital.lk

(081)-5625577

0773-692242

radhika@asiacapital.lk

(081)-5625577

0777-282586

priyankara@asiacapital.lk

D. S .Senanayake Street, Kandy.
RadhikaHettiarachc
hi
TharinduPriyankara

Service Centers
Hambantota

Hambanthota Chamber of Commerce, ThangalleRoad,Hambantota.

SherminRanasinghe
SamithEdirisinghe

(047)-5679240
(047-5679240)

0777-681866
0775-486869

shermin@asiacapital.lk
samith@asiacapital.lk

Jaffna

147,2/3, K.K.S Road, Jaffna

Gratian Nirmalan

(021)-5671800

0777-567933

nirmal@asiacapital.lk

ASIA WEALTH MANAGEMENT CO.(PVT) LTD
21-01 West Tower,
World Trade Centre, Echelon Square,
Colombo 01, Sri Lanka
Tel: +94 11 5320000
Website: www.asiacapital.lk