Sri Lanka Equity Forum
Dear Reader,

Registration with the Sri Lanka Equity Forum would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.

Thank You
Sri Lanka Equity Forum

Discussion Forum for Stock Market Investors in Sri Lanka

සිංහල පරිවර්තනය
Submit Post
Submit Post

Latest topics

» #PM Crisis#
by Ryan Hudson Today at 9:16 am

» Financial Reports Q-3 2018
by ruwan326 Today at 7:19 am

» ##FUN TOONS###
by ruwan326 Today at 7:06 am

» TBs worth Rs.14.2 bn issued to SriLankan in 2012
by ruwan326 Today at 6:42 am

by samaritan Yesterday at 9:22 am

» SRI LANKA @ 2020
by ruwan326 Yesterday at 7:24 am

» Dealing by directors
by ruwan326 Fri Nov 16, 2018 9:08 pm

» Summary of Key Announcements during the week
by ruwan326 Fri Nov 16, 2018 9:06 pm

» Daily Foreign Transactions
by ruwan326 Fri Nov 16, 2018 9:05 pm

by ruwan326 Fri Nov 16, 2018 9:02 pm

by sanjulanka Fri Nov 16, 2018 1:29 pm

» Another Finance sector deal UBC UBC UBC Deal
by kalu351 Fri Nov 16, 2018 10:56 am

by kalu351 Fri Nov 16, 2018 10:54 am

by Maharaja Fri Nov 16, 2018 9:32 am

» Q-TO-Q Financial Report-Financial Performance- Period ended 30 September 2018
by ruwan326 Thu Nov 15, 2018 9:00 pm

» CB raises key rates in surprise move to support currency
by Miss-Sangeetha Thu Nov 15, 2018 4:59 pm

» President rejects NCM brought against PM, Govt.
by ranferdi Thu Nov 15, 2018 2:36 pm

by ruwan326 Thu Nov 15, 2018 1:59 pm

» Supreme Court issues stay order on Gazette dissolving Parliament
by THUWA Wed Nov 14, 2018 5:28 pm

by ruwan326 Wed Nov 14, 2018 8:27 am

» Veterans return to lead state banks
by ruwan326 Wed Nov 14, 2018 8:21 am

» Collect ODEL Range Rs. 23-25 .......Target Price over Rs.35
by soileconomy Tue Nov 13, 2018 8:54 pm

» අනං## මනං ##
by ruwan326 Tue Nov 13, 2018 8:52 pm

» JKH News & Reports
by ruwan326 Tue Nov 13, 2018 8:11 pm

» Survey - Individual Investors' Behaviour and Investment Performance
by eroshans Tue Nov 13, 2018 3:49 pm

» USD/MXN Can Face A Bearish Reversal
by GersonH Mon Nov 12, 2018 10:22 pm

» EURUSD breaks major horizontal support
by GersonH Mon Nov 12, 2018 10:18 pm

» EURCHF is headed south
by GersonH Mon Nov 12, 2018 10:14 pm

» EURUSD: the pair is close to the lower boundary of the B-B channel
by GersonH Mon Nov 12, 2018 10:12 pm

» Parliament dissolved from midnight ????????
by Yahapalanaya Mon Nov 12, 2018 6:24 pm

You are not connected. Please login or register

Sri Lanka Equity Forum » Stock Market News » Nimal returns to stock market

Nimal returns to stock market

Go down  Message [Page 1 of 1]

1 Nimal returns to stock market on Mon Oct 15, 2018 7:57 am


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Nimal returns to stock market-15 Oct 2018

  • Says has invested over Rs. 2 b in accumulating blue chips going at bargain
  • Responsible for bulk of purchases of HNB shares last week; picks up Sampath Bank, JKH, Aitken Spence among others
  • Most purchases from exiting foreign investors
  • Insists best time to buy fundamentally sound stocks given low prices
  • New investments mostly self-financed
  • Recently sold his 35-room Tangalle resort for $ 2.5 m to Singaporean billionaire Ong Beng Seng

High net worth investor Nimal Perera is back in the Colombo stock market having invested over Rs. 2 billion in recent months, accumulating mostly blue chips that are trading at a bargain.

Year-to-date the All Share Index (ASI) is down 9% and the more active S&P Sri Lanka 20 Index has dipped 20% and foreigners have been net sellers to the tune of Rs. 6.6 billion.

For Nimal and the smarter investors, the setting and statistics are perfect.

“Given the low prices, especially that of fundamentally sound stocks including blue chips, this is the ideal time to buy,” insists Nimal, who is synonymous with stock market investments through which he has also drawn criticism from certain quarters.

Until a few months ago he had been on the sidelines assessing the market conditions and also diverting his attention to the Government bond market.

With foreigner funds exiting Colombo equities partly due to redemptions among other factors, Nimal has been busy.

“I have invested around over Rs. 2 billion during the past few months. Valuations in terms of price to book value are very attractive. I see medium to long-term value in some of the stocks hence I have been collecting, some from foreign funds who are selling out,” Nimal told the Daily FT. “I am largely bullish on the banking sector as well as diversified stocks,” he added.

Last week he bought bulk (1 million) of the 1.36 million HNB shares traded for Rs. 273 million and he was also on the buying side of Sampath Bank which saw 1.4 million shares traded for Rs. 330 million.

HNB topped the list of net foreign sales last week (Rs. 258 million).

As of now Nimal holds 1.7 million HNB shares, having collected at prices between Rs. 215 and Rs. 200 and 2.5 million shares of Sampath Bank picked up at between Rs. 260 and Rs. 225 per share.

Nimal has also bought 1.5 million shares of JKH at Rs. 135 each and 1.5 million of Aitken Spence in addition to 3 million Expolanka Holdings shares. Among his portfolio are 1 million shares of Seylan Bank bought at Rs. 72.50 each, 2 million shares of Asian Hotels at Rs. 35 each, 2 million shares of Tokyo Cement, 1.5 million shares of Access Engineering, half a million shares of Chevron Lubricants Lanka at Rs. 65 each and 7 million of Asia Asset Finance.

At last week’s CSE-SEC-organised roadshows in London and Edinburgh, LYNEAR Wealth Management Managing Director Dr. Naveen Gunawardane told investors present that for the first time since 2009 most banks were trading below their book value hence they remained attractive. The Price Earnings Ratio of nine times also makes the Colombo stock market more attractive than its regional or frontier market peers.

Nimal says the bulk of his investments are self-funded and a few on margin facilities. Recently he sold his 35-room beach resort in Tangalle for $ 2.5 million to Singaporean billionaire businessman and founder of the Singapore-based organisation Hotel Properties Ong Beng Seng. In December 2017, Nimal sold his entire stake of 97% in Mercantile Produce Brokers for Rs. 1 billion after having bought it for Rs. 250 million in 2014.

The acquisitions are via his fully-owned venture capital and private equity firm NP Capital which has invested in a digital disruption startup Arimak Ltd. and newly-created ceramics and aluminium trading company Dunimac Ltd., with a showroom in Nawala.

2 Re: Nimal returns to stock market on Mon Oct 15, 2018 4:53 pm


Vice President - Equity Analytics
Vice President - Equity Analytics
He feels the pressure. Otherwise he will not come to the media and published what he is bought

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum