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Friday Nov 15, 2024
Tuesday, 31 January 2012 00:00 - - {{hitsCtrl.values.hits}}
Asha Phillip Securities Ltd. in 2011 has successfully weathered the negative Colombo Bourse by beating the rest of brokers to rise as number one in terms of turnover and volume.
A spokesman for the broking firm said that Asha Phillips was ranked number one in Sri Lanka for the year ended 31 December 2011 by generating the highest turnover and highest trade volume as per CSE data.
The pinnacle slot for Asha Phillips comes after several years and this achievement despite a bearish run as well as in an environment of 28 brokers is significant.
The Colombo stock market suffered its first decline in three years when the ASI dipped by 8.5% in 2011 after having gained by 96% in 2010 and 125% in 2009.
Recently as part of its expansion, Asha Phillip Securities opened its newest branch in Ambalantota, marking it as the firm’s 18th investment boutique.
Asha Phillips has the largest branch network in the stock brokering industry and its reach is spread across the country.
“Further recognising the economic growth in the southern region, we have also opened a Southern region head office in Matara in addition to its existing Matara branch,” an Asha Phillips spokesman said.
In 2011, the broking firm successfully started operations in Batticaloa, Wellawatte and Panadura. Apart from the newly-opened unit at Ambalantota, Asha Phillips plans to set up shop at Wattala, having identified another potential market.
The broking firm is a joint venture between Phillip Securities of Singapore and M.M. Udeshi.
Phillip Securities is a financial services provider with a global presence in financial hubs of 12 countries; with offices in Singapore, Hong Kong, Malaysia, France, Australia, Sri Lanka, Thailand, Japan, Indonesia, United Kingdom, China and USA.
Through Phillip Securities, Asha Phillips has been able to extend its services to its international clients. The company is a pioneer member of the Colombo Stock Exchange (CSE) and has a rich history spanning over two decades.
Asha Phillip Securities Ltd. has the largest concentration of certified advisors in the industry. The dedicated staff of 108 personnel, led by Director and CEO Dimuthu Abeyesekera, is celebrated for their excellence in the industry.
The company has moved beyond its core business to provide margin trading and investment banking solutions through its affiliated company, Asha Financial Services Ltd.
