CSE confirms more road shows in pipeline

• Calls for policy consistency and clarity

By Charumini de Silva

Following the successful conclusion of road shows conducted in Australia and New Zealand, the Colombo Stock Exchange (CSE) Chief confirmed that they were planning on having a few more at targeted markets.

CSE Chairman Vajira Kulatilaka said road shows were an important facet in improving the visibility of a capital market with potential global investors.

“There are two types of road shows we can look into. One is for the Sri Lankan expatriates and the other for global fund managers. At the moment we are looking at these options,” he added.

According to Kulatilaka, Australia, New Zealand and Japan are good markets to tap into for Sri Lankan expatriates while Hong Kong, Singapore, New York and London are potential markets to attract fund managers.

However, he emphasised that it was critical to have consistence and clarity in Government policies to attract these potential and much-needed investors to the CSE.

“We have to be clear on our policies. One of the first questions at our Australian road show was about the Capital Gains Tax (CGT) and we did not have information to answer the investors. Do not make it a black box. If there is CGT, it must be told to the market,” he added.

Given the global environment, he said Sri Lanka was one of the most peaceful counties in the world which major economies such as China, India and Russia were eyeing due to its strategic location. 

“We have to exploit this opportunity,” he stated.