Weekly 22

May 2013
2011
7th31st
October
38
Volume
Volume 22
Sri Lanka Focus
31st May 2013
ASIA RESEARCH TEAM 1
Focus
Colombo Stock Exchange
Weekly Review by Asia Wealth Management Research
IN THIS ISSUE;
ASI Daily Closing

(ASI)
Market loses steam owing to profit booking....
3000
Focu
Focu
6500
Colombo Stock Exch

2500
6450
6400
2000
6350
7th October 2011
Volume 38
The week concluded on a negative note with

the All Share Index shedding 25.8 points WoW to close at
6,463.1 points....
Pg 02
6300
Colombo Bourse Billion Ruppee Club
6250
Table below shows the members who have

qualified to be a part of Asia Wealth Researchs Billion Rupee
Club.
6200
Pg 04
Commodity Prices
Pg 05
6050
7 October 2011
th
Turnover (RHS)
ASI closing (LHS)
Market Statistics
31-May
23-May
% Chg.
3,646.32
14,034.82
19,550.07
2,112.64
3,653.61
172.29
3,261.26
2,478.80
19.68
5,442.00
43.20
1,088.40
200.60
1,067.43
493.7
3,666.04
14,219.78
19,305.40
2,162.10
3,639.16
175.33
3,178.89
2,491.70
19.77
4,799.50
38.08
1,199.90
124.20
2,486.80
582.30
-0.5
-1.3
1.3
-2.3
0.4
-1.7
2.6
-0.5
-0.5
13.4
13.5
-9.3
61.5
-53.6
-8.3
W eekly R eview6,463.06
by Asia 6,488.85
Wealth -0.4
Mana
All Share Index

S&P SL20 Index
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)
to
Colombo Stock Exch
Both indices showed signs of consolidation during the

week while strong retail participation continued to drive the All
Share Index and activity levels of the Colombo Bourse.... Pg07
Major Price Movements
Company
500
13- 14- 15- 16- 17- 20- 21- 22- 23- 27- 28- 29- 30- 31May May May May May May May May May May May May May May
Weekly overview of commodity trading
likely
1000
6100
Pg 03
Launch of the 30-year bond is

easetreasury yields in the long run...
1500
6150
Analysis of Various Warrants Listed on CSE
Volume 38
(LKR mn)
6550
Price
+/-LKR
2.1
-0.3
-12.5
Nation Lanka Finance
21,135,830
Agalawatte Plantations
30.5
-4.0
-11.6
Nation Lanka Finance (Warrant 21)
17,311,951
The Finance
15.0
-1.4
-8.5
Panasian Power
15,295,857
-8.3
Environmental Resources Investments
9,370,403
Blue Diamonds (Non Voting)
7,983,557
Overseas Realty
7,567,615
13.9
Seylan Merchant Bank
7,200,663
5,327,053
Central Investment & Finance
Nation Lanka Finance (Warrant 21)
1.1
-0.1
+/- %
Large Trades
Manag
CompanyWeekly Review by Asia WealthVolume
Singalanka Standard Chemicals
73.5
-6.4
-8.0
Mtd Walkers
30.0
3.5
13.2
Nation Lanka Finance
11.5
1.4
Colombo Stoc
34.0
19.8
J L Morison Sons & Jones
350.0
60.1
20.7
Central Investment & Finance
4,632,923
21.0
Pc House
4,435,773
2011
206.0
38
J L Morison Sons & Jones (Non Voting)
Seylan Merchant Bank (Non Voting)
Ceylon & Foreign Trades
7.5
1.3
Sri Lanka Focus
31st May 2013
Features
Market loses steam owing to profit booking....
The week concluded on a negative note with the All Share Index shedding 25.8 points WoW to close at 6,463.1 points (0.4%), whilst the S&P SL 20 Index shed 19.7 points WoW to close at 3,646.3 points (-0.5%). Indices lost mainly on the back
of the losses made in John Keells holdings (-3% WoW), Sri Lanka Telecom (-2.9% WoW), Nestle Lanka (-1.9% WoW),
Aitken Spence (-3.2% WoW) and Dialog Axiata (-2.1% WoW).
Colombo Bourse fluctuated on a narrow range whilst the daily turnover levels were predominantly dominated by few
notable transactions. During the week profit booking was evident which diminished the exorbitant price gains witnessed
over the past week. Furthermore, week witnessed the release of 4QFY13 earnings of several blue chip companies where
most conglomerates posted mixed results in their cumulative FY13 earnings on the back of the macroeconomic shocks
witnessed in the country.
The week also marked a change in ownership in JL Morrison Sons & Jones when Hemas Holdings acquired a controlling
stake. As per CSE disclosure, approx 4.1mn voting shares of JL Morrison that represents 71.51% of voting shares and
approximately 872K of nonvoting shares which represents 50.06%, was directly purchased by Hemas Manufacturing (Pvt)
Ltd which is a fully owned subsidiary of Hemas Holdings PLC.
Subsequent to the aforementioned deal JL Morrison Sons & Jones spearheaded the weekly turnover contributing a circa
64%. John Keells Holdings also emerged amongst the top turnover list backed primarily by institutional and retail
participation. As a result of the above strategic deal on JL Morrisons, the Chemicals and Pharmaceuticals sector made the
highest contribution of circa 34% to the weeks turnover tally, followed by the Banking, Finance & Insurance sector with a
16% contribution supported mainly by heavy buying witnessed in Nations Lanka Finance and its Warrant 21.
During the week crossings were also recorded in counters such as Carsons Cumberbatch, National Development Bank,
Asiri Hospitals Holdings and Lanka Floor Tiles. As a result of these transactions, the week posted an average turnover of
circa LKR 1.1bn and an average share volume of 40.1mn.
Furthermore, Nations Lanka Finance, Nations Lanka Finance (Warrant 21), Panasian Power, Environmental Resources
Investments and Blue Diamonds topped the list in terms of volume traded during the week.
The week saw foreign purchases amounting to LKR 1,067.4 mn whilst foreign sales amounted to LKR 493.7 mn. Market
capitalisation stood at LKR 2,478.8 bn, with an YTD performance of 14.5%.
Sri Lanka Focus
31st May 2013
Colombo Bourses Billion Rupee Club

Table below shows the members who have qualified to be a part of Asia Wealth Researchs 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
Price
Trailing ROE
BVPS
Net Profit 4Q
Trailing EPS
Trailing PE
PBV
Mkt Cap Mn
JOHN KEELLS HOLDINGS
285.00
14.47%
89.16
11,064.74
12.90
22.09
3.20
244,378.12
COMMERCIAL BANK [V]
123.00
19.03%
62.26
10,055.80
11.85
10.38
1.98
97,669.20
98.50
19.03%
62.26
10,055.80
11.85
8.31
1.58
5,372.51
NDB
176.90
35.45%
151.81
8,838.12
53.82
3.29
1.17
29,047.32
CEYLON TOBACCO
990.00
239.47%
18.23
8,178.00
43.66
22.68
54.30
185,450.51
HNB [V]
169.90
16.47%
123.35
8,086.02
20.31
8.36
1.38
54,064.53
HNB [NV]
127.00
16.47%
123.35
8,086.02
20.31
6.25
1.03
10,141.55
DISTILLERIES
DIALOG TELEKOM
203.10
9.50
18.19%
17.24%
135.74
4.57
7,409.12
6,410.98
24.70
0.79
8.22
12.07
1.50
2.08
60,930.00
77,365.89
SAMPATH BANK
AITKEN SPENCE
222.50
134.00
20.48%
14.43%
151.68
65.39
5,211.75
3,830.17
31.07
9.43
7.16
14.20
1.47
2.05
37,325.93
54,403.47
BUKIT DARAH
COMMERCIAL BANK [NV]
710.00
12.20%
306.91
3,820.24
37.45
18.96
2.31
72,420.00
LOLC
61.00
18.17%
43.65
3,768.31
7.93
7.69
1.40
28,987.20
SRI LANKA TELECOM
42.50
6.85%
30.22
3,739.00
2.07
20.52
1.41
76,706.55
PEOPLES LEASING
14.90
17.44%
11.63
3,204.00
2.03
7.35
1.28
23,539.95
DFCC BANK
144.90
11.38%
101.48
3,062.09
11.55
12.54
1.43
38,412.65
CARSON CUMBERBATCH
CENTRAL FINANCE
OVERSEAS REALTY
441.00
190.00
20.90
9.31%
19.39%
13.50%
163.48
146.89
23.48
2,988.82
2,986.52
2,674.92
15.22
28.47
3.17
28.98
6.67
6.59
2.70
1.29
0.89
86,606.63
19,927.83
17,628.82
93.78%
52.59
2,649.72
49.32
40.55
38.03
107,450.93
ASIAN HOTEL & PROPERTIES
77.00
17.33%
33.43
2,564.93
5.79
13.29
2.30
34,093.70
ACCESS ENGINEERING LIMITED
21.50
20.12%
11.99
2,412.99
2.41
8.91
1.79
21,500.00
331.00
55.45%
34.38
2,287.67
19.06
17.36
9.63
39,720.00
27.00
17.55%
22.95
2,144.18
4.03
6.71
1.18
14,378.31
UNITED MOTORS
121.00
31.63%
99.41
2,115.38
31.45
3.85
1.22
8,139.32
SEYLAN BANK [V]
70.40
10.61%
56.51
2,068.52
6.00
11.74
1.25
12,388.81
SEYLAN BANK [NV]
38.00
10.61%
56.51
2,068.52
6.00
6.34
0.67
6,421.35
7.40
27.41%
3.86
2,053.21
1.06
6.99
1.92
14,350.36
CEYLON COLD STORES
178.00
27.56%
77.83
2,038.86
21.45
8.30
2.29
16,917.12
COLOMBO DOCKYARD
235.50
18.96%
144.82
1,973.52
27.46
8.57
1.63
16,922.78
CEYLON TEA SERVICES
659.20
26.76%
364.33
1,949.95
97.50
6.76
1.81
13,184.00
TAPROBANE HOLDINGS
5.00
69.32%
3.81
1,934.19
2.64
1.89
1.31
3,664.75
66.90
19.07%
43.55
1,915.23
8.31
8.06
1.54
15,427.63
NESTLE LANKA
CHEVRON LUBRICANTS
LANKA IOC
RICHARD PIERIS
NATIONS TRUST BANK
2,000.00
1044.50
14.24%
492.87
1,854.36
70.20
14.88
2.12
20,890.00
CEYLINCO INSURANCE [NV]
370.00
14.24%
492.87
1,854.36
70.20
5.27
0.75
2,373.36
LB FINANCE
129.90
36.51%
70.85
1,791.55
25.87
5.02
1.83
8,996.50
10.60
44.44%
7.21
1,692.75
3.20
3.31
1.47
5,601.65
106.50
20.14%
74.13
1,653.73
14.93
7.13
1.44
11,799.07
CEYLINCO INSURANCE [V]
ASIRI SURGICAL
ROYAL CERAMICS
19.90
5.32%
28.39
1,641.10
1.51
13.18
0.70
21,622.53
HAYLEYS
AIT. SPENCE HOTEL HOLD.
HEMAS HOLDINGS
CEYLON THEATRES
309.00
79.40
37.00
145.00
7.91%
13.09%
12.92%
9.40%
260.02
34.83
21.62
69.77
1,542.58
1,533.59
1,439.19
1,201.08
20.57
4.56
2.79
6.56
15.02
17.41
13.25
22.10
1.19
2.28
1.71
2.08
23,175.00
26,701.43
19,065.75
26,549.10
DIPPED PRODUCTS
129.90
19.19%
102.28
1,174.76
19.62
6.62
1.27
7,776.01
13.30
7.86%
9.41
1,077.31
0.74
17.98
1.41
19,366.75
VALLIBEL ONE LIMITED
JOHN KEELLS HOTELS

EXPOLANKA HOLDINGS
SINGER SRI LANKA
LION BREWERY
7.00
12.04%
4.54
1,069.63
0.55
12.79
1.54
13,684.41
99.50
21.47%
38.54
1,036.27
8.28
12.02
2.58
12,458.36
419.90
17.62%
70.99
1,000.47
12.51
33.58
5.91
33,592.00
Sri Lanka Focus
31st May 2013
Features
Analysis of Various 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.)
Warrants Valuation
Exercise
price
CLPL-W-0013
CLPL-W-0014
GREG-W-0003
GREG-W-0006
CSF-W-0021
REEF-W-0019
118.00
142.00
36.00
39.00
12.00
40.00
Share Price
Expiry Date
(2013/05/31)
87.80
87.80
16.20
16.20
11.50
24.50
25-Aug-14
25-Aug-15
24-Feb-14
24-Feb-15
1-Jul-13
15-Jun-15
Price According to Black

Warrant Price
Scholes model (Intrinsic
(2013/05/31)
value)
4.00
0.00
4.00
0.00
1.40
0.00
2.50
0.00
1.10
0.00
3.50
0.00
Undervalued/
(Overvalued)
(4.00)
(4.00)
(1.40)
(2.50)
(1.10)
(3.50)
Sri Lanka Focus
31st May 2013
Commodity Prices
Date as at
10.05.13
17.05.13
23.05.13
31.05.13
105.0
104.4
102.6
102.2
-0.4%
Gold (USD/ounce)
1,458.1
1,386.4
1,372.5
1,418.9
3.4%
Copper LME (USD/ton)
7,310.0
7,095.0
7,445.5
7,286.8
-2.1%
08.05.13
15.05.13
20.05.13
30.05.13
455.34
470.31
461.92
452.57
07.05.13
16.05.13
20.05.13
30.05.13
390.0
385.0
399.5
385.0
-3.6%
10.05.13
17.05.13
23.05.13
31.05.13
USD
126.15
126.25
126.40
126.50
WoW %
change
0.1%
EURO
164.43
162.61
162.23
165.01
1.7%
STG (GBP)
194.64
192.41
189.89
192.61
1.4%
1.25
1.23
1.22
1.25
2.5%
20.49
20.53
20.59
20.64
0.2%
Brent Crude Oil (USD/barrel)
WoW %
change
METALS
AGRI
Date as at
Tea LKR/Kg
Date as at
Rubber (RSS 1) LKR /Kg
Exchange Rates (LKR)
YEN
YUAN (CNY)
WoW %
change
-2.0%
WoW %
change
Source: Bloomberg, AFP, Reuters, CBSL, RDDSL, Asia Siyaka
OIL
Crude oil spot and futures prices remained virtually flat as analysts await the result of the meeting of the members of
OPEC which is due to take place at the end of the week. The cartel could decide to revise production quotas for its
members in lieu of the large global oil stockpiles which have accumulated amidst weak demand. Analysts believe this
weak demand is expected to persist as the OECD in its global outlook for 2013 revises down its global GDP growth
forecasts for 2013 from 3.4% to 3.1%.
Sri Lanka Focus
31st May 2013
Commodity Prices
Gold
Gold surged to a two week high and recorded a 3.4% WoW gain. This was primarily due to data out of the U.S which
revealed a 2.4% economic growth for the U.S for the 1st quarter of 2013 which however, was below analyst
expectations. This prompted the Federal Reserve to state that stimulus measures will remain in place. Further data
out of China revealed a surge in gold demand with purchases of gold bars and jewellery rising for the 1 st quarter of
2013 by 49% and 16% respectively. However gold futures for August delivery traded on the NYMEX stood at $1,412
and remains in backwardation in line with hedge fund managers expectations which remain bearish with respect to
the prospects for the yellow metal.
Copper
Copper prices trended downwards for the week as analyst sentiment on the prospects for the global economy
weakened. Prices of the red metal remained volatile and ended the week down at USD7,286.8/ton which represents
a -2.1% WoW drop. However analyst expect copper prices to rebound over the coming month as supply remains tight
amidst industrial action in copper mines in Indonesia and the announcement of a reduction in copper volumes by
large copper mines and smelters in China. Reflecting this fact, copper futures for August delivery traded on the LME
rose 0.4% WoW and was in contango at USD7,349.3/ton.
USD
The USD dollar index which measures the performance of the greenback against a basket of hard currencies reached
its highest level since 2010 on the back of rising demand for the greenback as a safe haven currency. The Yen
weakened further as data from the Bank of Japan (BOJ) revealed a drop in consumer prices for the month of April
which could prompt further stimulus measures. The Korean Won gained 0.2% against a basket of currencies after
South Korean manufacturing climbed 0.8% for the month of April. Other emerging economy currencies also
benefitted from the news that the Federal Reserve would continue its stimulus measures which would keep exports
from emerging economies buoyant.
Source: Bloomberg, AFP, Reuters, Eurostat
Sri Lanka Focus
31st May 2013
Conclusion
Launch of the 30-year bond is likely to ease treasury yields in the long run...
Both indices showed signs of consolidation during the week while strong retail participation continued to drive the
All Share Index and activity levels of the Colombo Bourse. The first 30 year bond worth LKR 2.0bn issued by Sri
Lanka was oversubscribed over three times settling at a cut off annual yield of 12.5%. This indicates a general flow
of savings towards government debt market from private investments, a trend that was apparent in financial
markets from towards the end of 2012. On the flip side however, the launch of the 30-year debt instrument will
expand the scope of government securities market and more importantly will provide added fiscal space to
continue its growth agenda led by infrastructure spending, amidst moderating state revenue growth in the face of
contraction in economys external trade.
Furthermore, Central Banks target of achieving 3.5 4 years range in average time to maturity of domestic
currency debt by 2016 from the current figure of approximately 2.4 years will be assisted by the launch of the 30year bond. Hence, we are of the view that the long-term outlook on government bond rates would turn favourable
given that governments cash outflows in the form of capital repayments would be significantly delayed through
the introduction of the 30-yearbond. This would assist to limit governments borrowing requirements to refinance
debt repayments.
Given the fact that a strong negative correlation exists between the ASI and treasury yields, we are of the view that
the launch of the new debt instrument would prove favourable towards equity trade in the long run.
Sri Lanka Focus
31st May 2013
Focus on Investment
Key Buys
Manufacturing
X LKR 20.00
40
LKR
Tokyo Cement
N LKR 26.00
Charts Sourced from Asia Wealth Research
35
30
25
20
15
10
TKYO
0
6/ 1/ 2012
25
7/ 17/ 2012 8/ 29/ 201210/ 11/ 2012

11/ 26/ 2012 1/ 11/ 2013 2/ 28/ 2013 4/ 16/ 2013
LKR
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.
20
15
10
5
TKYOX
0
Banking & Finance
18
16
14
Largest specialized leasing company in Sri Lanka is a subsidiary of Peoples Bankthe 2nd largest commercial bank inthe country, a holding.Principal business
activity of PLC is the provision of finance leasing, operating leasing, HP facilities
etc...During 2012 most of the finance companies enjoyed much demand for
loans, due to credit ceiling imposed on LCBs. However the ceiling was lifted
from the beginning of 2013, yet we believe that theprjected decline in interest
rates would create more avenues for RFCs. PLC achieving the finance company
licenses, have opened opportunities to collect public deposits and minimise cost
of funds, where the company was earlier depending on more borrowings. Going
by these, we believe PLC is a medium to long term healthy investment to
consider.
Sampath Bank
N LKR 222.50
Banking& Finance
12
10
8
6
4
2
0
6/1/2012 7/17/2012 8/29/2012 10/11/201211/26/2012 1/11/2013 2/28/2013 4/16/2013
PLC
300
LKR
Peopless Leasing & Finance

N LKR 14.90
7/17/2012 8/29/2012 10/11/2012

1 1 / 2 6 / 2 0 1 21 / 1 1 / 2 0 1 3 2 / 2 8 / 2 0 1 3 4 / 1 6 / 2 0 1 3
LKR
6/1/2012
250
John Keells Holdings

N LKR 285.00
Diversified
200
150
100
50
SAMP
0
6/1/2012 7/17/2012 8/29/2012 10/11/201211/26/20121/11/2013 2/28/2013 4/16/2013
350
300
LKR
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 LCBs, including Sampath bank. However, the
removal of the ceiling from 2013, and the anticipated drop in interest rates
coupled with SAMPs 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.
250
The sustained performance of the group during 9MFY13 inspite of its high
exposure to macro economic shocks is a testament to the firms commitment
towards value creation whilst maintaining a healthy balance sheet.Going
forward, with the growth in GDP, per capita income and the increase in tourist
arrivals we anticipate the consumer retail and the leisure sector to perform
admirably.
200
150
100
50
JKH
0
6/1/2012
7/17/2012 8/29/2012 10/11/2012 11/26/2012 1/11/2013 2/28/2013 4/16/2013
Sri Lanka Focus
31st May 2013
Focus on Investment
Chemicals & Pharmaceuticals
X LKR 54.20
LKR
100
CIC Holdings
N LKR 75.00
80
60
40
20
CIC
0
6/1/2012
80
70
7/17/2012 8/ 29/ 201210/11/201211/26/2012 1/11/2013 2/ 28/ 2013 4/16/2013
LKR
CIC is considered as the only seed to shelf agricultural company in Sri

Lanka.The Company also has foot prints in consumer and pharmecuitical
industries, Paints, Industrial raw material and Packaging. Acquisition of dairy
farms in north & east region coupled with CICs plans to expand overseas will
strengthens companys earnings in the medium to long term.
60
50
40
30
20
10
CICX
Banking & Finance

X LKR 98.50
Commercial Bank is the largest private sector commercial bank with an asset
base of LKR512.2 bn as at Dec 2012, and operates with above 550 ATM points,
which is also the largest single network in the country. With the expected drop in
interest rates in the economy consequent to the cut in policy rates and lifting of
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 COMB as a mid to longer term investment.
140
120
100
80
60
40
20
0
COMB
120
100
LKR
Commercial Bank
N LKR 123.00
7/17/2012 8/29/201210/11/201211/26/2012 1/11/2013 2/28/2013 4/16/2013
LKR
6/1/2012
80
60
40
20
0
Banking & Finance

X- LKR 127.0
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.
200
180
160
140
120
100
80
60
40
20
0
HNB
140
120
LKR
Hatton National Bank

N-LKR 169.90
LKR
COMBX
100
80
60
40
20
0
HNBX
LB Finance
N LKR 129.90
.0
Banking & Finance
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
51bn as at Dec 2013, and an island wide branch net work of 26. 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.
180
160
140
120
100
80
60
40
20
0
LKR
LFIN
Sri Lanka Focus
31st May 2013
Focus on Investment
Manufacturing
LKR
Piramal Glass
N LKR 6.80
The company is the sole glass manufacture in Sri Lanka who supplies
glasscontainers to thefood and beverages, cosmetics, perfumery and the
pharmaceutical sectors.
The company at present virtually holds a
monopolistic position in the Local market with an approximately 97% market
share. Further, with their state of the art manufacturing plant in Horana,
coupled with the growing demand derived from the rapid developments
taking place within the Sri Lankan economy, the company is likely to deliver
better returns to its shareholders.
6
5
4
3
2
1
GLAS
Aitken Spence
N LKR 134.00
Diversified
160
140
Aitken Spence, after an illustrious tenure of over 100+ years of operations in

Sri Lanka is today one of the most-recognized brand names in Sri Lanka. Led by
a competent management team, the group has made successful investments
into a number of key sectors of the Sri Lankan economy, including Tourism,
Logistics, power generation and inward money transfer operations. The firm
has consistently recorded a growth in operating profit from core operations
and has maintained a high ROE resulting in value creation to shareholders.
LKR
6/1/2012 7/17/2012 8/29/201210/11/201211/26/2012 1/11/2013 2/28/2013 4/16/2013
120
100
80
60
40
20
SPEN
0
6/1/2012
Construction
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.
25
LKR
Access Engineering
N LKR 21.50
7/17/2012 8/29/2012 10/11/201211/26/2012 1/11/2013 2/28/2013 4/16/2013
20
15
10
5
AEL
0
6/1/2012
7/17/2012
8/29/2012 10/11/2012 11/26/2012 1/11/2013
2/28/2013
4/16/2013
Sri Lanka Focus
31st May 2013
Stock Exchange Announcements

As at 31st May 2013
Rights issues
Company
Proportion / Issue Price
Pelwatte Sugar
01 for 04 @ LKR18.00
Last Date Of
Acceptance &
Payment
XR date
* Rights issue would be delayed until the outcome of the

proposed Act with regard to acquisition of its land by the
State is known.
Dividends announcements
Company
Trading of rights
Commences on
Final/ Interim
Commercial Development Co.
Dividend Per
share (LKR)
2.00
XD Date
Payment Date
Final
30-05-2013
07-06-2013
Property Development
2.75
First & Final
13-06-2013
21-06-2013
Selinsing
15.61
Final
30-05-2013
07-06-2013
Shalimar (Malay)
14.23
Final
30-05-2013
07-06-2013
Indo-Malay
14.51
Final
30-05-2013
07-06-2013
Good Hope
14.66
Final
30-05-2013
07-06-2013
Piramal Glass
0.38
First & Final
16-07-2013
25-07-2013
Nestle Lanka
24.00
Final
31-05-2013
10-06-2013
Sanasa Development Bank
5.00
Final
03-06-2013
11-06-2013
The Lighthouse hotel
2.00
Final
01-07-2013
09-07-2013
DFCC Bank
5.00
First & Final
01-07-2013
09-07-2013
Agalawatte Plantations
2.00
Final
28-05-2013
05-06-2013
Ceylon Beverage Holdings
7.00
First & Final
10-06-2013
18-06-2013
Lion Brewery Ceylon
4.00
First & Final
10-06-2013
18-06-2013
Aitken Spence
1.50
First & Final
28-06-2013
08-07-2013
Aitken Spence Hotel Holdings
1.00
First & Final
28-06-2013
08-07-2013
Printcare
0.50
Final
28-05-2013
06-06-2013
Union Chemicals Lanka
5.00
Final
03-06-2013
11-06-2013
Hunas Falls Hotel
1.00
First & Final
25-06-2013
02-07-2013
Haycarb
3.00
Final
27-06-2013
04-07-2013
Balangoda Plantation
1.00
First & Final
27-06-2013
04-07-2013
Dipped Products
3.00
Final
28-06-2013
08-07-2013
Malwatte Valley Plantation
0.075
First & Final
19-06-2013
27-06-2013
Pegasus Hotels of Ceylon
0.50
First & Final
18-06-2013
26-06-2013
CT Holdings
5.00
Interim
28-05-2013
06-06-2013
Equity One
0.11
First & Final
20-06-2013
28-06-2013
The Lanka Hospital Corporation
0.50
Final
30-05-2013
10-06-2013
Diesel & Motor Engineering PLC
10.00
Final
31-05-2013
11-06-2013
Sri Lanka Focus
31st May 2013
Stock Exchange Announcements

Company
Final/ Interim
Hayleys
Dividend Per
share (LKR)
4.50
XD Date
Payment Date
First & Final
01-07-2013
08-07-2013
Union Bank of Colombo
0.35
Final
03-06-2013
12-06-2013
Kotagala Plantations
2.50
First & Final
27-06-2013
05-07-2013
Tea Smallholder Factories
1.00
First & Final
05-06-2013
14-06-2013
Asian Hotels and Properties
3.00
Final
05-06-2013
14-06-2013
John Keells Plc
3.50
First & Final
06-06-2013
17-06-2013
John Keells Holdings
1.50
Final
06-07-2013
17-06-2013
Keells Food Products
2.00
First & Final
06-06-2013
17-06-2013
Ceylon Cold Stores
4.00
First & Final
06-06-2013
17-06-2013
Trans Asia Hotels
2.00
Final
06-06-2013
17-06-2013
Hemas Holdings
0.45
Final
01-07-2013
09-07-2013
United Motors Lanka
4.00
Final
01-07-2013
09-07-2013
CIC Holdings
1.00
Final (Voting Non-Voting)
02-07-2013
10-07-2013
Chemanex
0.50
Final
02-07-2013
10-07-2013
Watawala Planation
0.25
Final
05-07-2013
15-07-2013
Dankotuwa Porcelain
0.40
Final
24-07-2013
31.-07-2013
Ceylon Tea Services
10.0
Final
CW Mackie
3.00
First & Final
28-06-2013
08-07-2013
Laugfs
1.50
First & Final (Voting Non-Voting)
10-06-2013
19-06-2013
ODEL
0.10
Final
10-06-2013
19-06-2013
Sunshine Holdings
0.50
Final
25-07-2013
02-08-2013
Singer Finance
0.65
Final
10-06-2013
19-06-2013
Central Industries
3.00
Final
Sathosa Motors
5.00
Final
To be notified
To be notified
Sri Lanka Focus
31st May 2013
ASIA RESEARCH TEAM
13
Valuation Guide
Company
YE
SH(mn)
M.CAP(Bn) Price
FY10
Earnings (LKR Mn)

FY11
FY12
FY13E
FY14YE
169.90
127.00
123.00
98.50
222.50
176.90
4,786.8
4,786.8
5,508.0
5,508.0
3,484.5
2,102.6
6,148.8 8,111.0 10,003.5

6,148.8 8,111.0 10,003.5
8,094.7 10,079.8 10,791.3
8,094.7 10,079.8 10,791.3
4,150.6 5,342.6 6,818.3
2,705.5 8,853.8 3,997.5
11,625.6
11,625.6
12,960.3
12,960.3
8,146.1
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
16.5
20.4
20.4
11.9
11.9
31.8
53.9
25.1
25.1
12.7
12.7
40.6
24.3
29.2
29.2
15.3
15.3
48.6
30.3
14.1
10.6
19.0
15.2
10.7
13.8
11.0
8.2
12.9
10.3
9.0
10.7
8.3
6.2
10.4
8.3
7.0
3.3
6.8
5.1
9.7
7.7
5.5
7.3
5.8
4.3
8.1
6.4
4.6
5.8
8.50
8.50
6.50
6.50
6.00
15.00
5.0%
6.7%
5.3%
6.6%
2.7%
8.5%
16%
16%
19%
19%
20%
36%
129.7
129.7
62.4
62.4
162.2
151.5
1.3
1.0
2.0
1.6
1.4
1.2
6.1
5.1
9.6
6.2
11.4
9.1
12.8
9.3
14.5
12.5
47.0
26.4
29.6
21.5
25.0
14.7
22.3
14.4
19.7
10.7
3.00
0.63
1.1%
0.5%
14%
15%
83.0
61.4
3.4
2.2
FY10
FY11
EPS
FY12
FY13E
FY14YE
FY10
FY11
PE
FY12
FY13E
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
318.21
79.85
794.06
54.54
167.76
164.20
CONGLOMERATES
John Keells Hold.
Aitken Spence Hold.
Mar
Mar
857.43
406.00
244.4 285.00
54.4 134.00
5,201.5
2,059.6
8,245.6
2,536.0
9,775.0 10,975.6 12,425.0

3,709.2 3,788.5 5,089.4
FOOD & BEVERAGE

Distilleries
Ceylon Tobacco
Mar
Dec
300.00
187.32
60.9 203.10
185.5 990.00
2,135.7
5,097.1
8,124.0
6,568.8
5,675.4
8,176.7
6,456.3
9,411.9
8,918.3
9,641.1
7.1
27.2
27.1
35.1
18.9
43.7
21.5
50.2
29.7
51.5
28.5
36.4
7.5
28.2
10.7
22.7
9.4
19.7
6.8
19.2
3.00
45.15
1.5%
4.6%
15%
239%
122.2
18.2
1.7
54.3
TOURISM
Asian Hotels & Properties Mar
Aitken Spence Hotel
Mar
442.78
336.29
34.1
26.7
77.00
79.40
629.8
523.8
1,774.5
1,034.1
2,150.6
1,395.3
2,473.5
1,467.3
2,617.7
1,747.0
1.4
1.6
4.0
3.1
4.9
4.1
5.6
4.4
5.9
5.2
52.7
51.0
18.7
25.8
15.9
19.1
13.8
18.2
13.0
15.3
2.00
2.00
2.6%
0.0%
14%
12%
33.8
34.8
2.3
2.3
MANUFACTURING
Chevron Lubricants
Tokyo (V)
Tokyo (NV)
Piramal Glass
Dec
Mar
Mar
Mar
120.00
202.50
101.25
950.09
39.7 331.00
5.3 26.00
2.0 20.00
6.5
6.80
1,501.3
369.3
369.3
(61.1)
2,000.6
855.7
855.7
578.7
2,257.3
973.2
973.2
686.4
2,175.3
1,456.0
1,456.0
891.2
2,150.3
1,505.0
1,505.0
948.2
12.5
1.2
1.2
(0.1)
16.7
2.8
2.8
0.6
18.8
3.2
3.2
0.7
18.1
4.8
4.8
0.9
17.9
5.0
5.0
1.0
26.5
21.4
16.4
N/A
19.9
9.2
7.1
11.2
17.6
8.1
6.2
9.4
18.3
5.4
4.2
7.2
18.5
5.2
4.0
6.8
11.00
1.00
1.00
0.36
3.3%
3.8%
5.0%
5.3%
55%
15%
15%
21%
34.4
20.7
20.7
3.4
9.6
1.3
1.0
2.0
CHEMICAL &
PHARMACEUTICAL
CIC Holdings (V)
CIC Holdings (NV)
Mar
Mar
72.90
21.87
94.77
75.00
54.20
589.6
589.6
926.6
926.6
916.5
916.5
820.0
820.0
1,405.2
1,405.2
6.2
6.2
9.8
9.8
9.7
9.7
.
8.7
8.7
14.8
14.8
12.1
8.7
7.7
5.5
7.8
5.6
8.7
6.3
5.1
3.7
3.20
3.20
4.3%
5.9%
12%
12%
77.5
77.5
1.0
0.7
2.9 116.00
2.0 85.00
2.2 56.00
376.1
146.7
323.2
837.7
409.3
667.8
681.5
374.6
438.6
823.7
404.7
569.3
892.1
454.4
620.9
15.0
6.2
8.1
33.5
17.2
16.7
27.3
15.8
11.0
32.9
17.0
14.2
35.7
19.1
15.5
7.7
13.8
6.9
3.5
4.9
3.4
4.3
5.4
5.1
3.5
5.0
3.9
3.3
4.4
3.6
7.50
4.50
2.00
6.5%
5.3%
3.6%
24%
24%
18%
115.6
65.8
61.8
1.0
1.3
0.9
243.1
243.1
852.7
852.7
930.3
930.3
968.0
968.0
1,185.1
1,185.1
0.6
0.6
2.2
2.2
2.4
2.4
2.5
2.5
3.1
3.1
48.6
37.4
13.8
10.7
12.7
9.8
12.2
9.4
10.0
7.7
1.50
1.50
4.9%
6.4%
15%
15%
19.1
17.5
1.6
1.3
PLANTATIONS
Kegalle Plantations
Mar
Namunukula Plantations Mar
Kotagala Plantations
Mar
Laugfs Gas (Voting)

Laugfs Gas (Non voting)
Mar
Mar
25.00
23.75
40.00
335.00
52.00
54.1
10.1
97.7
5.4
37.3
29.0
5,467.5
1,185.4
10.2
1.2
30.50
23.50
Sri Lanka Focus
31st May 2013
Broad Market
Guide
Company
MARKET
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
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
Year
End
Price
(LKR)
1W(%)
ASIA RESEARCH TEAM
Price Performance
1M(%)
1Q(%)
1Y(%)
(0.40)
(1.30)
8.22
3.50
14.68
10.49
32.30
32.17
Shares
Mn
Trailing
ROE
BVPS
13.23%
14.42%
COMBN
COMBX
DFCCN
HNB N
HNB X
NTB N
NDB N
PABCN
SAMPN
SEYBN
SEYBX
HDFCN
UBC N
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
123.00
98.50
144.90
169.90
127.00
66.90
176.90
20.90
222.50
70.40
38.00
44.10
19.50
(0.48)
(1.20)
(2.09)
(0.06)
1.44
(1.33)
1.03
(0.80)
(0.14)
(0.26)
(4.55)
(2.02)
7.22
4.55
1.90
2.97
0.16
8.06
4.06
0.96
3.19
1.30
(1.30)
(4.34)
4.30
13.12
7.86
22.69
15.03
7.63
13.56
22.00
20.00
(4.70)
20.17
7.34
(2.00)
25.16
18.56
31.73
29.38
14.49
39.56
43.78
69.12
24.26
46.81
23.33
66.67
(9.82)
46.97
794.06
54.54
265.10
318.21
79.85
230.61
164.20
295.04
167.76
175.98
168.98
64.71
349.25
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
27.80
988.50
101.00
190.00
11.50
61.00
129.90
18.00
16.70
0.90
0.50
15.00
5.10
34.50
33.50
81.00
14.90
26.30
15.90
(1.07)
7.45
(7.34)
(0.52)
12.87
(3.19)
0.93
(2.70)
1.21
(8.54)
(3.77)
3.89
4.69
3.18
1.35
(9.40)
7.43
2.96
21.29
9.78
6.15
20.00
7.43
0.93
(1.64)
16.78
(10.00)
(2.60)
(3.77)
38.80
11.30
3.85
10.29
50.63
16.91
3.35
31.76
24.69
5.56
29.55
4.66
(11.51)
6.51
28.46
12.50
33.33
20.00
10.87
38.80
13.56
10.81
23.97
61.74
38.26
(15.76)
79.73
54.67
43.18
44.30
111.50
23.71
(5.26)
40.34
(10.00)
33.33
(24.62)
8.51
(3.07)
5.68
15.71
25.00
30.27
65.63
110.00
2.43
4.46
104.88
249.91
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
18.49%
18.49%
11.38%
16.46%
16.46%
19.07%
35.45%
19.58%
20.47%
10.61%
10.61%
0.10%
3.43%
17.16%
na
32.02%
15.30%
19.39%
na
18.17%
36.51%
2.05%
na
6.48%
6.48%
na
na
10.04%
30.53%
8.11%
12.49%
4.87%
20.41%
64.08
64.08
101.48
123.37
123.37
43.55
151.81
14.04
151.73
56.51
56.51
36.95
15.35
7.18
668.81
92.95
146.89
1.75
43.65
70.85
21.90
12.78
0.54
0.54
-32.46
-32.46
30.24
20.36
123.49
11.12
8.94
11.31
Net Profits
4 Qtrs trailing
Dec12
Net Profits (mn)

Sep12
Jun12
Mar12
186,081.67
62,335.94
40,234.80
10,055.80
10,055.80
3,062.09
8,086.02
8,086.02
1,915.23
8,838.12
810.95
5,211.75
2,068.52
2,068.52
2.45
183.87
16,200.61
(459.04)
520.32
63.45
2,986.52
(259.82)
3,768.31
1,791.55
60.60
(173.79)
63.37
63.37
(1,474.69)
(1,474.69)
113.73
258.29
63.05
229.71
11.73
131.15
59,333.88
22,930.17
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
3,187.29
(101.30)
147.63
20.00
756.28
2.03
513.84
442.40
6.92
(27.97)
19.00
19.00
(510.40)
(510.40)
32.78
72.60
15.30
63.04
1.23
27.88
48,225.54 32,257.34
13,645.88 11,514.28
7,943.94 8,152.55
2,303.20 2,469.90
2,303.20 2,469.90
819.13
682.38
1,676.38 1,707.60
1,676.38 1,707.60
566.53
487.50
678.77
641.28
195.40
159.63
1,044.53 1,359.21
589.19
612.27
589.19
612.27
0.01
5.36
70.79
27.42
5,095.89 2,651.62
(145.25) (139.98)
144.21
110.77
10.38
18.18
796.33
785.24
(81.05) (100.43)
605.22
656.84
429.15
432.96
30.48
6.67
1.28
(36.87)
27.83
9.91
27.83
9.91
(357.76) (393.92)
(357.76) (393.92)
55.33
66.92
61.74
31.19
61.19
59.43
3.94
71.12
50,837.89
14,401.25
8,578.58
2,849.70
2,849.70
765.47
1,533.32
1,533.32
405.70
720.87
196.55
1,494.20
412.49
412.49
125.36
74.92
5,265.80
(72.52)
117.71
14.90
648.67
(80.37)
1,992.41
487.04
16.52
(110.23)
6.63
6.63
(212.61)
(212.61)
25.62
57.03
16.56
46.04
6.57
32.16
14
Trailing
EPS
Trailing
PE
PBV
Market Cap
(mn)
13.32
10.81
1.76
1.56
2,478,786.80
11.85
11.85
11.55
20.31
20.31
8.31
53.82
2.75
31.07
6.00
6.00
0.04
0.53
10.4
8.3
12.5
8.4
6.3
8.1
3.3
7.6
7.2
11.7
6.3
1163.8
37.0
1.9
1.5
1.4
1.4
1.0
1.5
1.2
1.5
1.5
1.2
0.7
1.2
1.3
97,669.20
5,372.51
38,412.65
54,064.53
10,141.55
15,427.63
29,047.32
6,166.36
37,325.93
12,388.81
6,421.35
2,853.73
6,810.38
na
214.12
14.22
28.47
na
7.93
25.87
0.45
na
0.04
0.04
na
na
3.04
6.22
10.01
1.39
0.44
2.31
na
4.6
7.1
6.7
na
7.7
5.0
40.1
na
25.6
14.2
na
na
11.4
5.4
8.1
10.7
60.4
6.9
3.9
1.5
1.1
1.3
6.6
1.4
1.8
0.8
1.3
1.7
0.9
-0.5
-0.2
1.1
1.6
0.7
1.3
2.9
1.4
3,058.00
2,402.06
450.71
19,927.83
2,874.00
28,987.20
8,996.50
2,430.00
1,127.25
1,072.59
307.03
869.49
510.00
1,292.16
1,391.95
509.97
2,463.47
708.35
903.13
Sri Lanka Focus
31st May 2013
Broad Market
Guide
Company
CITIZENS DEVELOPMENT FINANCE

CITIZENS DEVELOPMENT 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
PEOPLES 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
ASIA RESEARCH TEAM
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
48.00
M
38.80
M
50.00
M
3.10
M
12.00
M
13.00
M
2200.00
M
28.40
M
3.40
M
32.70
M
2.10
M
393.00
M
23.60
M
7.90
M
6.50
M
27.30
M
14.90
M
2.40
M
14.40
M
82.40
M
4.40
M
535.10
Price Performance
1W(%)
1M(%)
(2.04)
12.94
2.11
16.57
(3.13)
(3.13)
(2.44)
22.45
(4.41)
2.94
1.82
(2.86)
0.61
(7.08)
(12.50)
(16.00)
7.26
2.08
(5.60)
31.11
(2.47)
23.44
6.56
6.61
39.80
(1.97)
4.20
(4.00)
(1.37)
(5.88)
(0.36)
12.33
(4.35)
(10.20)
(19.76)
(11.16)
1Q(%)
21.52
32.08
(3.13)
4.00
14.29
3.03
9.33
(32.26)
12.29
40.48
31.67
10.17
49.73
11.19
4.35
4.35
23.31
10.00
(17.29)
1Y(%)
39.94
(6.52)
150.00
(58.67)
(8.40)
(10.96)
86.67
9.68
13.10
(46.15)
20.92
2.61
71.74
10.17
110.77
41.90
(17.24)
(34.40)
-
Shares
Mn
46.30
8.01
53.37
500.00
29.66
238.07
3.01
22.46
2800.00
37.00
83.43
5.61
38.77
100.72
299.20
33.00
1579.86
559.47
115.63
25.18
6377.71
22.50
Trailing
ROE
24.52%
24.52%
32.47%
25.37%
6.43%
59.64%
4.94%
na
16.72%
12.25%
na
31.35%
5.62%
3.73%
na
16.54%
17.44%
14.65%
28.29%
7.87%
7.77%
7.82%
BVPS
48.80
48.80
36.04
1.05
11.16
5.75
1931.21
19.09
1.91
11.79
6.67
97.85
8.14
5.20
6.10
21.18
11.63
1.29
6.57
126.33
1.17
15.97
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
1.70
105.00
1044.50
370.00
318.10
54.80
105.00
13.80
2.94
(0.51)
(2.61)
3.62
0.92
(3.18)
2.22
20.69
6.65
8.82
(3.25)
4.17
5.71
14.05
14.29
28.05
9.03
34.45
(6.28)
5.77
15.11
28.97
32.24
22.88
21.31
113.35
37.50
35.42
46.81
1000.00
37.50
20.00
6.41
30.00
50.00
85.71
363.00
8.97%
5.01%
14.24%
14.24%
19.21%
18.73%
21.17%
23.71%
0.98
38.97
492.87
492.87
135.45
37.37
50.27
9.30
CDICN
CFVFN
LVENN
MainB
MainB
MainB
D
M
M
490.00
16.20
36.00
2.53
1.69
1.91
23.66
-
0.97
38.46
12.50
113.04
107.69
39.53
32.90
101.25
50.00
5.66%
8.52%
28.08%
351.06
13.13
19.53
Net Profit
4Qtrs
649.77
649.78
624.60
133.80
21.28
816.56
286.97
(16.45)
895.69
53.41
(146.97)
172.03
17.72
19.53
(343.79)
115.56
3,204.00
105.96
214.75
250.19
580.72
28.09
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
534.00
19.79
38.85
73.18
273.73
10.37
4,858.73
87.94
73.29
1,854.36
1,854.36
780.45
349.96
912.34
800.40
1,041.80
654.39
113.20
274.21
3,629.66
70.86
138.81
1,364.04
1,364.04
514.02
211.26
698.56
632.13
433.02
301.27
79.51
52.24
Net
Sep'12
148.50
148.50
178.10
71.65
12.42
270.32
416.78
(13.68)
543.10
27.55
(31.16)
37.07
5.77
12.26
(172.30)
56.55
806.00
36.00
88.62
65.36
594.70
15.12
Profits
Jun'12
97.04
97.04
136.29
384.35
490.68
17.08
(25.82)
109.16
109.16
99.99
54.89
71.61
163.77
219.43
145.90
33.95
39.59
160.50
160.50
103.09
54.86
65.90
221.70
118.53
73.04
30.13
0.41
36.73
5.99
710.00
Mar'12
234.27
234.27
153.74
64.17
21.18
492.75
(152.64)
14.20
289.82
21.40
0.83
59.29
1.85
21.85
(183.83)
20.71
1,154.00
50.17
87.27
111.65
(287.71)
10.13
15
Trailing
EPS
11.97
11.97
11.70
0.27
0.72
3.43
95.47
1.12
0.32
1.44
0.00
30.67
0.46
0.19
-0.93
3.50
2.03
0.19
1.86
na
0.09
1.25
Trailing
PE
4.0
3.2
4.3
11.6
16.7
3.8
23.0
na
10.6
22.7
na
12.8
51.6
40.7
na
7.8
7.3
12.7
7.8
na
48.3
428.6
PBV
Mkt Cap Mn
1.0
0.8
1.4
2.9
1.1
2.3
1.1
1.5
1.8
2.8
0.3
4.0
2.9
1.5
1.1
1.3
1.3
1.9
2.2
na
3.8
33.51
2,222.36
310.63
2,668.40
1,550.00
355.96
3,094.97
6,613.20
637.92
9,520.00
1,209.90
175.20
2,204.08
914.88
795.66
1,944.80
900.90
23,539.95
1,342.73
1,665.00
2,074.45
28,061.93
12,039.75
389.22
220.66
220.66
63.35
28.95
76.27
167.65
88.69
(73.30)
152.26
70.20
70.20
26.02
7.00
10.64
2.20
14.9
5.3
12.2
7.8
9.9
6.3
2.1
0.8
2.3
1.5
2.1
1.5
1,700.00
3,937.50
20,890.00
2,373.36
9,543.00
2,740.00
9,000.00
5,009.40
19.89
1.12
5.48
24.6
14.5
6.6
1.4
1.2
1.8
16,123.42
1,640.25
1,800.00
Sri Lanka Focus
31st May 2013
Broad Market
Guide
Company
Year
End
ASIA RESEARCH TEAM
Price Performance
1W(%)
1M(%)
1.27
16.85
(2.09)
(2.82)
0.57
15.80
9.36
19.40
1.64
26.93
(1.66)
1.42
3.56
22.46
(0.88)
10.78
1.12
9.04
(4.45)
6.36
1.75
20.93
4.19
(8.78)
1.39
15.94
0.41
35.85
(1.43)
13.49
(0.58)
9.99
(1.81)
10.23
(7.26)
(7.05)
(4.35)
4.76
4.08
4.29
3.91
1Q(%)
25.79
15.92
19.86
27.16
29.97
2.17
36.39
21.51
39.23
94.51
13.00
6.73
15.11
38.57
30.40
11.11
23.30
2.00
2.33
21.43
8.33
18.75
1Y(%)
51.89
29.61
19.86
130.95
86.99
1.42
45.77
(47.56)
(39.87)
58.32
52.93
(12.45)
(3.38)
77.66
92.70
50.00
75.92
5.41
7.32
51.34
8.33
37.11
Shares
Mn
16.00
224.00
20.99
95.04
20.00
187.32
89.77
4.77
2.75
300.00
0.96
25.50
31.40
80.00
40.00
53.73
23.55
561.75
30.00
282.21
66.43
Trailing
ROE
27.72%
13.89%
9.96%
17.21%
27.56%
26.76%
239.47%
5.39%
5.39%
11.88%
18.19%
12.33%
6.81%
12.22%
17.62%
11.81%
79.31%
na
7.78%
8.59%
4.63%
7.53%
BVPS
100.85
34.79
141.50
77.83
364.33
18.23
24.84
24.84
108.18
135.74
965.02
59.36
22.57
70.99
58.14
70.27
31.86
3.42
21.97
2.68
7.52
Net Profit
4Qtrs
25,880.96
224.20
776.30
511.00
2,038.86
1,949.95
8,178.00
126.51
126.51
35.35
7,409.12
114.22
103.07
86.57
1,000.47
274.62
2,993.92
(219.98)
149.51
56.60
35.06
37.62
Dec'12
5,449.31
5.63
127.20
98.37
62.51
231.42
1,984.00
31.31
31.31
26.20
1,472.85
29.66
37.87
35.16
185.68
188.58
949.80
(33.67)
6.06
1.50
5.70
3.49
Net
Sep'12
6,377.65
18.50
81.07
169.09
179.40
456.20
2,300.00
39.80
39.80
3.90
1,616.60
22.33
4.97
16.12
314.53
78.55
798.13
3.57
198.72
30.62
20.02
25.54
Profits
Jun'12
6,001.66
50.08
245.79
151.14
250.90
427.46
2,405.00
36.79
36.79
(0.17)
1,461.80
19.49
15.23
27.34
313.42
43.98
784.17
(254.68)
Mar'12
8,052.33
149.99
322.24
92.39
1,546.06
834.87
1,489.0
18.61
18.61
5.43
2,857.87
42.74
45.00
7.95
186.85
(36.49)
461.82
64.81
(55.27)
0.56
9.34
8.60
16
Trailing
EPS
PBV
Mkt Cap Mn
14.01
3.47
24.35
21.45
97.50
43.66
1.34
1.34
12.86
24.70
119.00
4.04
2.76
12.51
6.87
55.73
na
0.27
1.89
0.12
0.57
Trailing
PE
19.54
10.3
51.1
24.5
8.3
6.8
22.7
17.1
14.2
18.2
8.2
18.4
19.8
18.3
33.6
17.5
35.9
na
16.9
27.6
20.9
23.3
5.42
1.4
5.1
4.2
2.3
1.8
54.3
0.9
0.8
2.2
1.5
2.3
1.3
2.2
5.9
2.1
28.5
1.3
1.3
2.4
1.0
1.8
2,318.40
39,648.00
12,529.89
16,917.12
13,184.00
185,450.51
2,055.77
90.69
643.50
60,930.00
2,101.96
2,040.00
1,585.70
33,592.00
4,799.76
107,450.93
977.12
2,527.88
1,560.00
733.74
876.86
BEVERAGE FOOD AND TOBACCO

BAIRAHA FARMS
CARGILLS
CEYLON BREWERY
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
144.90
177.00
597.00
178.00
659.20
990.00
22.90
19.00
234.00
203.10
2190.00
80.00
50.50
419.90
120.00
2,000.00
41.50
4.50
52.00
2.60
13.20
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
89.00
75.00
54.20
197.00
245.00
350.00
206.00
168.00
73.50
1.70
487.50
5.40
1.37
2.30
7.14
3.85
(1.40)
(1.25)
19.90
18.86
(6.67)
(8.01)
6.25
(4.76)
(5.26)
16.36
17.11
21.56
16.88
8.24
(2.51)
93.11
80.36
12.00
0.79
(10.00)
18.11
23.61
23.56
9.09
15.81
28.27
110.67
104.95
9.09
16.67
13.33
6.31
(46.00)
7.24
36.92
(19.35)
(4.42)
30.81
(3.92)
109.40
96.99
21.74
47.89
21.43
(11.72)
(62.50)
15.75
72.90
21.87
29.71
0.67
5.81
1.74
24.00
5.54
283.00
1.50
101.00
7.66%
na
4.65%
4.65%
19.94%
3.75%
9.68%
9.68%
6.55%
na
25.70%
15.51%
10.78%
79.81
76.93
76.93
126.88
105.99
259.09
259.09
168.87
53.04
0.62
193.66
2.76
1,639.46
(17.29)
339.02
339.02
751.84
2.65
189.35
189.34
265.63
(12.20)
45.34
45.05
30.07
702.71
(12.51)
152.10
152.10
196.73
0.52
46.24
46.24
307.20
(6.25)
4.12
11.27
3.29
378.49
9.86
48.63
48.63
243.24
0.47
36.52
36.52
(11.17)
11.03
13.43
5.94
20.54
127.64
(6.14)
(17.32)
(17.32)
179.15
0.55
25.17
25.17
(72.66)
(3.21)
8.74
13.37
430.62
(8.49)
155.61
155.61
132.72
1.11
81.41
81.41
42.27
(13.77)
19.06
14.47
6.24
na
3.58
3.58
25.30
3.97
25.08
25.08
11.07
na
0.16
30.03
0.30
13.82
na
21.0
15.2
7.8
61.7
14.0
8.2
15.2
na
10.6
16.2
18.1
1.06
1.1
1.0
0.7
1.6
2.3
1.4
0.8
1.0
1.4
2.7
2.5
2.0
1,401.75
5,467.50
1,185.35
5,853.34
163.31
2,032.90
358.95
4,032.00
407.25
481.10
731.25
545.40
CONSTRUCTIONS
COLOMBO DOCKYARD
LANKEM DEVELOPMENTS
MTD WALKERS
ACCESS ENGINEERING LIMITED
DOCKN
LDEVN
KAPIN
AEL N
MainB
MainB
MainB
MainB
D
M
M
M
235.50
7.10
30.00
21.50
2.73
1.29
1.39
13.21
2.38
7.66
6.82
7.35
13.21
7.50
6.23
2.17
25.86
42.86
4.88
30.61
17.56
14.06
101.34
35.22
71.86
60.00
114.36
1000.00
15.41%
18.96%
na
na
20.12%
144.82
14.63
32.25
11.99
4,155.57
1,973.52
(223.19)
(7.75)
2,412.99
1,357.34
434.21
36.45
51.74
834.95
1,218.16
343.17
(26.82)
89.54
812.27
420.13
450.98
18.04
(48.89)
1,159.94
745.17
(250.85)
(100.14)
765.77
27.46
na
na
2.41
10.17
8.6
na
na
8.9
1.57
1.6
0.5
0.9
1.8
16,922.78
426.00
3,430.71
21,500.00
23.92
Sri Lanka Focus
31st May 2013
Broad Market
Guide
Company
Year
End
DIVERSIFIED
AITKEN SPENCE
CARSON CUMBERBATCH
CEYLON THEATRES
COLOMBO FORT LAND
FINLAYS COLOMBO
HAYLEYS
HEMAS HOLDINGS
JOHN KEELLS HOLDINGS
DUNAMIS CAPITAL
RICHARD PIERIS
SUNSHINE HOLDINGS
SOFTLOGIC HOLDINGS
EXPOLANKA HOLDINGS
FREE LANKA CAPITAL 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
134.00
441.00
145.00
38.50
308.00
309.00
37.00
285.00
13.10
7.40
35.00
11.70
7.00
2.70
19.90
3.50
3.80
5.00
FOOTWEAR AND TEXTILES

CEYLON LEATHER
HAYLEYS - MGT
KURUWITA TEXTILES
ODEL
CLPLN
MGT N
KURUN
ODELN
MainB
MainB
MainB
DiriSaviB
M
M
M
M
87.80
10.60
23.40
25.10
HOTELS AND TRAVELS

City Hotels
ASIAN HOTEL & PROPERTIES
GALADARI
HOTEL DEVELOPERS
HOTEL SERVICES
RENUKA CITY HOTEL
TAJ LANKA
TRANS ASIA
AHPLN
GHLLN
HDEVN
SERVN
RENUN
TAJ N
TRANN
MainB
MainB
DefaultB
MainB
MainB
MainB
MainB
M
D
M
M
M
M
M
77.00
13.70
94.80
16.00
292.00
30.80
82.50
ASIA RESEARCH TEAM
Price Performance
1W(%)
1M(%)
(2.29)
8.44
(2.97)
8.06
(0.70)
(1.78)
(3.59)
3.72
(2.04)
5.77
(1.07)
(1.10)
(4.63)
1.71
4.83
27.68
(3.00)
14.00
4.80
16.96
(3.90)
7.25
15.51
(1.67)
9.26
(1.41)
(3.57)
(2.46)
13.14
(2.78)
(7.32)
(19.15)
-
Shares
Mn
1Q(%)
13.89
11.57
0.43
5.07
32.76
(1.13)
5.43
38.72
21.79
16.96
12.12
27.74
7.27
2.94
17.39
26.11
(51.28)
11.11
1Y(%)
27.50
21.27
(5.62)
67.39
42.09
(10.11)
71.63
54.89
63.75
21.31
65.09
19.19
12.90
80.00
41.43
59.09
(3.85)
406.00
196.39
183.10
180.00
35.00
75.00
515.29
857.47
123.00
1939.24
133.33
779.00
1954.92
1368.00
1086.56
1860.00
252.00
732.95
34.23
152.34
25.00
272.13
(3.17)
3.21
1.94
1.73
(7.06)
6.25
(6.38)
5.00
4.91
13.12
15.79
35.00
5.00
11.90
12.11
33.56
7.03
45.83
15.20
47.06
0.40
4.90
9.03
19.55
4.34
(4.20)
8.47
0.33
(6.17)
10.01
3.79
(1.84)
21.72
10.79
(1.91)
10.65
19.13
12.68
29.66
17.56
9.47
4.48
24.55
7.38
57.41
24.70
39.15
Trailing
ROE
11.80%
14.43%
9.31%
9.40%
15.25%
6.69%
7.91%
12.92%
14.39%
na
27.41%
22.54%
2.66%
12.04%
6.54%
5.32%
na
48.12%
-3.25%
2.11%
na
na
4.63%
BVPS
65.39
163.48
69.77
34.36
155.58
260.02
21.62
89.69
9.12
3.86
24.29
10.38
4.54
4.97
28.39
5.73
6.07
3.81
Net Profit
4Qtrs
32,114.36
3,830.17
2,988.82
1,201.08
942.96
364.52
1,542.58
1,439.19
11,064.74
(45.48)
2,053.21
730.20
215.06
1,069.63
444.96
1,641.10
(39.11)
736.56
1,934.19
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
Net
Sep'12
7,131.66
731.41
874.90
147.06
7.14
82.13
372.48
387.78
2,411.73
20.37
569.53
98.31
133.57
299.27
203.23
796.53
21.70
(52.17)
26.68
Profits
Jun'12
4,201.60
640.57
(93.01)
196.16
180.99
89.88
219.08
334.33
1,658.72
(9.59)
445.54
184.14
71.01
283.79
88.21
16.93
34.75
16.76
(358.85)
63.75
(606.62)
(27.36)
211.38
22.88
35.19
(110.00)
15.96
81.73
(29.84)
16.60
(85.11)
(65.46)
104.14
(60.71)
27.38
(41.65)
(46.45)
(291.18)
(15.42)
(369.86)
68.59
25.52
33.43
1.49
na
6.17
320.89
16.50
26.30
7,446.81
3,033.78
2,564.93
(437.35)
na
(541.68)
351.45
204.92
891.51
2,326.65
1,111.11
622.66
209.00
1,971.84
1,149.27
565.37
339.77
na
(106.40)
46.60
87.53
216.40
551.82
268.53
406.75
(323.10)
na
(96.74)
104.28
23.20
154.14
2,596.50
504.87
970.15
(663.02)
8.25%
442.78
500.83
45.23
176.00
7.00
139.64
200.00
17.33%
na
na
na
15.65%
8.89%
16.95%
(138.90)
82.10
87.46
248.79
Mar'12
10,852.65
1,756.50
1,383.67
439.74
385.72
83.71
178.40
372.08
4,096.65
(73.92)
481.07
243.30
(74.14)
286.48
74.12
479.98
166.50
836.45
(263.67)
(199.64)
118.47
6.73
272.18
17
Trailing
EPS
9.43
15.22
6.56
5.24
10.41
20.57
2.79
12.90
na
1.06
5.48
0.28
0.55
0.33
1.51
na
2.92
Trailing
PE
17.18
14.2
29.0
22.1
7.3
29.6
15.0
13.2
22.1
na
7.0
6.4
42.4
12.8
8.3
13.2
na
1.3
1.86
na
na
0.78
na
47.1
na
na
32.3
1.09
1.0
0.6
0.7
1.5
21.66
1.79
13.3
na
na
na
5.8
21.0
18.5
2.3
9.2
na
2.6
0.9
1.9
3.1
5.79
na
na
na
50.21
1.47
4.46
PBV
Mkt Cap Mn
2.03
2.0
2.7
2.1
1.1
2.0
1.2
1.7
3.2
1.4
1.9
1.4
1.1
1.5
0.5
0.7
0.6
0.6
1.3
54,403.47
86,606.63
26,549.10
6,930.00
10,780.00
23,175.00
19,065.75
244,378.12
1,611.26
14,350.36
4,666.67
9,114.30
13,684.41
3,693.60
21,622.53
6,510.00
957.60
3,664.75
3,005.73
1,614.84
585.00
6,830.45
34,093.70
6,861.37
4,287.43
2,816.00
2,044.00
4,300.83
16,500.00
Sri Lanka Focus
31st May 2013
Broad Market
Guide
Company
Year
End
ASIA RESEARCH TEAM
Price Performance
1W(%)
1M(%)
1Y(%)
Shares
Mn
Trailing
ROE
BVPS
1Q(%)
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
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
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
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
79.40
80.00
21.10
22.40
98.50
83.50
37.00
82.50
54.10
10.00
13.30
49.90
74.00
20.80
1350.00
42.90
24.50
36.90
75.00
37.00
70.00
28.00
17.50
7.60
16.50
8.00
7.30
2.30
28.00
0.51
(0.25)
(0.93)
3.23
1.55
4.77
0.82
(1.20)
(0.55)
2.04
2.67
(15.62)
4.00
0.75
(0.24)
(4.65)
(1.07)
3.45
(1.41)
(0.36)
(2.23)
(3.80)
3.85
1.39
(4.17)
12.45
7.30
(3.73)
4.95
19.79
2.60
11.33
4.21
4.17
(9.08)
6.38
5.94
(21.19)
5.58
7.01
(1.60)
(1.60)
1.35
0.54
(2.78)
14.52
(2.78)
13.43
5.19
7.35
(4.17)
40.00
3.79
3.49
23.26
28.00
(4.55)
19.29
8.80
4.43
8.20
6.38
2.31
17.97
5.71
10.05
8.00
5.37
28.13
0.82
15.38
14.91
(6.67)
17.45
2.34
20.63
13.79
44.64
32.73
4.55
46.60
27.04
31.58
58.21
30.99
(24.58)
63.41
30.18
23.13
7.34
100.00
12.71
23.21
(35.31)
22.35
35.68
37.33
20.00
(23.13)
22.95
36.53
(4.11)
30.81
48.31
35.71
44.74
37.29
28.07
-
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
13.09%
15.28%
5.45%
0.03%
na
na
12.95%
27.95%
23.72%
2.73%
7.86%
5.68%
na
6.65%
12.40%
9.21%
2.62%
9.36%
7.62%
15.88%
6.90%
7.74%
7.74%
3.80%
21.29%
na
1.71%
1.55%
5.86%
34.83
49.12
26.56
34.14
109.09
na
30.83
36.03
20.06
10.06
9.41
51.21
na
19.43
1092.48
45.69
29.91
29.58
59.57
29.67
103.40
14.70
14.70
7.07
7.58
10.08
10.43
0.94
14.31
Net Profit
4Qtrs
4,413.03
1,533.59
360.44
187.50
1.70
(562.62)
(86.63)
210.83
59.00
26.77
158.46
1,077.31
133.86
na
60.79
271.42
127.93
75.56
138.46
40.84
149.02
142.78
126.89
126.89
32.88
178.97
(114.03)
27.67
8.79
48.25
INVESTMENT TRUST
ASCOT HOLDINGS
CEYLON GUARDIAN
CEYLON INVESTMENT
COLOMBO FORT INV.
COLOMBO INV. TRUST
LEE HEDGES
RENUKA HOLDINGS [V]
RENUKA HOLDINGS [NV]
GUARDIAN CAPITAL
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
154.90
205.00
100.00
126.50
150.00
248.00
39.00
28.20
46.20
(2.21)
(1.84)
(2.43)
(3.01)
1.20
2.74
(0.80)
0.71
0.22
10.43
(7.85)
13.58
22.70
10.87
16.28
2.90
8.33
17.01
6.70
22.58
13.65
27.90
26.42
33.16
47.06
0.94
21.88
25.89
18.46
35.64
(22.55)
36.06
53.85
(2.69)
36.36
50.30
34.48
34.93
15.50
7.99
82.10
98.51
6.50
6.50
5.12
44.52
6.43
25.83
4.06%
0.47%
4.07%
4.96%
5.70%
7.98%
na
18.22%
18.22%
na
70.15
167.87
82.78
45.74
33.42
429.14
46.67
46.67
18.35
1,140.49
2.62
560.43
404.27
16.93
17.35
(178.85)
433.14
433.14
(115.40)
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
Net
Sep'12
822.58
227.60
110.82
50.60
9.60
(22.15)
(4.79)
26.23
16.50
11.17
50.60
116.49
12.10
na
19.53
107.56
17.60
4.60
16.97
12.15
30.00
17.68
40.75
40.75
(5.30)
35.35
(49.51)
12.14
(41.72)
(7.66)
Profits
Jun'12
283.29
171.51
53.47
45.04
(25.93)
(121.80)
(16.59)
15.11
7.77
7.70
26.87
40.36
14.29
na
1.01
36.72
21.23
(22.02)
(1.24)
(1.26)
26.49
9.34
(4.78)
(4.78)
524.63
(5.70)
200.10
196.14
2.29
0.71
(72.90)
263.06
263.06
(59.08)
539.00
22.47
324.44
148.66
10.50
12.18
(38.57)
47.90
47.90
11.42
(156.22)
31.09
(77.01)
(53.46)
2.48
3.30
(36.99)
30.34
30.34
(55.97)
Dec'12
1,215.54
436.71
82.38
50.87
(16.33)
(89.87)
1.60
73.56
16.74
4.38
40.58
222.37
28.67
Mar'12
2,091.63
697.77
113.77
40.99
34.36
(328.80)
(66.85)
95.93
17.99
3.52
40.41
698.09
78.80
na
26.79
78.94
41.02
80.57
85.46
16.21
39.73
69.10
22.89
22.89
38.58
120.86
(45.38)
31.99
58.89
233.09
(45.24)
112.90
112.93
1.66
1.16
(30.39)
91.84
91.84
(11.77)
18
Trailing
EPS
Trailing
PE
PBV
Mkt Cap Mn
4.56
7.50
1.45
0.01
na
na
3.99
10.07
4.76
0.27
0.74
2.91
na
1.29
135.45
4.21
0.78
2.77
4.54
4.71
7.14
1.14
1.14
0.27
1.61
na
0.18
0.01
0.84
17.4
10.7
14.6
2264.0
na
na
9.3
8.2
11.4
36.4
18.0
17.1
na
16.1
10.0
10.2
31.3
13.3
16.5
7.9
9.8
24.6
15.4
28.3
10.2
na
41.1
157.1
33.4
2.3
1.6
0.8
0.7
0.9
na
1.2
2.3
2.7
1.0
1.4
1.0
na
1.1
1.2
0.9
0.8
1.2
1.3
1.2
0.7
1.9
1.2
1.1
2.2
0.8
0.7
2.4
2.0
26,701.43
3,842.74
2,734.56
3,848.88
1,065.45
75.15
1,953.60
483.37
304.31
5,775.00
19,366.75
2,295.40
203.50
978.98
2,705.22
1,303.80
2,363.69
1,845.00
675.00
1,169.99
1,400.00
2,114.41
630.19
931.00
1,829.63
1,289.60
1,135.88
1,380.00
1,612.07
0.33
6.83
4.10
2.61
2.67
na
8.50
8.50
na
29.90
472.3
30.0
24.4
48.6
56.2
na
4.6
3.3
na
1.22
2.2
1.2
1.2
2.8
4.5
0.6
0.8
0.6
2.5
1,236.95
16,829.83
9,851.49
822.25
975.00
1,269.90
1,736.18
181.28
1,193.52
Sri Lanka Focus
31st May 2013
Broad Market
Guide
Company
LAND AND PROPERTY

C T LAND
CARGO BOAT
CEYLINCO 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
INFRASTRUCTURE
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
Year
End
M
M
M
M
D
D
M
M
M
M
M
M
D
D
M
M
M
M
32.50
124.50
14.30
12.20
52.70
70.20
16.70
35.00
31.50
80.00
17.50
58.90
20.90
60.00
1750.00
17.50
175.00
5.90
Price Performance
1W(%)
1M(%)
3.41
19.26
9.46
27.06
3.67
43.98
(5.37)
0.71
1.69
30.43
3.34
3.14
(5.01)
3.24
(1.76)
13.61
7.72
2.95
2.37
16.60
19.48
9.16
6.06
4.17
10.09
12.19
4.55
36.18
0.67
25.26
2.94
(1.60)
(0.57)
(3.31)
1.72
3.51
ASIA RESEARCH TEAM
1Q(%)
42.10
32.24
42.82
22.61
44.58
65.93
9.69
28.46
16.33
23.77
21.57
22.38
21.44
47.86
31.87
29.58
24.11
16.28
3.51
1Y(%)
55.70
33.88
70.41
50.00
76.47
68.05
(3.70)
40.34
57.92
67.78
82.89
88.17
30.60
71.07
50.00
(12.50)
68.27
8.70
(50.42)
Shares
Mn
48.75
10.20
13.38
147.96
199.88
12.00
138.24
40.32
31.00
1.80
17.43
17.50
843.48
66.00
0.36
12.00
6.48
106.91
Trailing
ROE
8.57%
10.87%
11.33%
37.83%
1.05%
1.34%
19.52%
0.21%
5.77%
6.91%
na
na
5.10%
11.47%
11.46%
15.32%
13.59%
na
0.04
BVPS
50.36
77.24
13.71
28.72
18.59
99.89
9.59
38.93
17.76
na
3.60
65.36
26.04
44.06
649.39
10.18
22.13
29.53
Net Profit
4Qtrs
3,921.74
266.89
89.23
69.41
44.75
49.95
233.95
2.76
90.59
38.02
(4.25)
(51.34)
58.39
2,519.19
333.25
35.83
16.60
na
128.52
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
Net
Sep'12
685.54
38.52
27.20
31.77
26.80
(5.10)
17.89
18.58
6.91
(0.09)
1.00
(9.95)
17.48
273.58
87.96
2.79
2.65
22.26
125.30
Profits
Jun'12
271.68
39.19
24.39
25.67
23.25
(8.60)
3.94
(6.15)
6.63
0.17
(1.20)
(20.32)
18.23
94.27
66.70
2.21
3.31
Mar'12
459.58
154.43
12.60
6.07
25.09
(1.80)
13.03
(2.37)
69.80
38.33
(2.93)
(2.13)
5.10
40.33
76.51
28.24
7.20
3.02
-10.93
19
Trailing
EPS
5.47
8.75
5.19
0.30
0.25
19.50
0.02
2.25
1.23
na
na
3.34
2.99
5.05
99.52
1.38
na
1.20
Trailing
PE
12.29
5.9
14.2
2.8
40.3
210.9
3.6
835.3
15.6
25.7
na
na
17.7
7.0
11.9
17.6
12.6
na
4.91
PBV
Mkt Cap Mn
1.05
0.6
1.6
1.0
0.4
2.8
0.7
1.7
0.9
1.8
na
4.9
0.9
0.8
1.4
2.7
1.7
7.9
0.2
1,584.38
1,269.90
191.33
1,805.17
10,533.73
842.40
2,308.61
1,411.26
976.50
144.00
305.01
1,030.80
17,628.82
3,960.00
630.00
210.00
1133.41
630.74
Sri Lanka Focus
31st May 2013
Broad Market
Guide
Company
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
PELWATTE SUGAR
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
SUGAN
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
MainB
DiriSaviB
DiriSaviB
DiriSaviB
Year
End
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
M
D
M
M
M
D
M
M
M
M
M
M
M
M
128.00
76.90
101.80
12.90
18.20
3.80
1.50
26.60
75.00
47.80
331.00
17.30
129.90
31.00
75.00
43.90
33.40
9.60
120.00
80.00
72.00
5.40
15.60
23.50
6.80
30.10
75.00
44.40
106.50
100.00
136.40
5000.30
26.00
20.00
2.50
12.10
7.7
15
9.1
Price Performance
1W(%)
1M(%)
2.59
16.64
6.98
39.67
1.59
11.30
(4.41)
14.38
(1.53)
(4.44)
(4.71)
(6.19)
(2.63)
(9.76)
(6.25)
(1.85)
6.43
1.97
7.58
(2.44)
9.32
31.85
(0.58)
2.40
(1.14)
12.96
(3.13)
11.11
(2.60)
15.38
2.84
15.43
(2.91)
12.46
(6.80)
11.63
3.01
48.39
6.10
28.21
2.86
24.14
(1.82)
(5.26)
4.00
(2.50)
3.08
(2.90)
9.45
0.40
15.38
4.49
31.55
(1.93)
8.78
(0.50)
15.70
(5.28)
1.04
(3.36)
7.92
2.56
5.26
4.17
4.35
(1.28)
4.05
(1.08)
(3.16)
ASIA RESEARCH TEAM
1Q(%)
27.14
34.73
18.34
12.99
7.50
(5.21)
12.12
(6.25)
22.12
13.13
6.19
51.36
23.91
18.09
9.15
16.10
37.78
15.17
17.07
88.05
21.21
32.60
10.20
20.93
8.06
7.50
17.74
47.33
9.90
11.80
12.63
(39.02)
7.47
11.73
13.64
33.33
37.50
12.20
1Y(%)
43.92
25.70
42.49
19.76
24.04
2.82
(7.50)
(11.76)
65.63
13.13
26.32
102.78
81.91
44.33
55.00
26.05
77.14
115.48
35.21
99.33
29.03
30.91
(11.48)
38.05
26.42
20.40
(21.96)
167.88
8.66
25.79
(2.99)
31.59
(8.16)
3.09
8.70
57.89
(7.23)
(25.20)
Shares
Mn
4.26
59.89
4.21
25.61
12.06
103.30
153.37
47.32
9.88
60.00
120.00
72.25
59.86
8.00
21.80
80.40
13.70
173.51
30.00
53.05
54.60
39.00
27.37
67.98
950.09
85.97
11.27
11.16
110.79
3.85
3.85
0.13
202.50
101.25
537.51
655.00
307.53
17.47
54.92
Trailing
ROE
17.51%
24.78%
11.70%
10.21%
0.47%
na
na
na
12.81%
11.48%
4.96%
55.45%
5.12%
19.19%
7.74%
12.24%
27.53%
2.73%
na
13.61%
23.35%
15.31%
na
2.03%
na
20.68%
13.85%
11.06%
251.34%
20.14%
17.65%
1.80%
na
8.14%
8.14%
35.80%
15.82%
14.07%
14.07%
3.21%
BVPS
123.85
90.89
139.22
18.23
21.36
1.12
1.12
3.57
92.79
44.44
34.38
10.43
102.28
44.14
94.17
20.40
42.34
na
87.12
56.17
77.33
3.60
20.72
na
3.66
21.77
67.24
5.02
74.13
101.18
234.18
807.03
20.66
20.66
3.30
8.80
6.98
122.92
12.08
Net Profit
4Qtrs
12,219.72
130.71
637.17
59.85
2.18
na
(32.33)
(32.33)
21.60
105.31
132.31
2,287.67
38.56
1,174.76
27.33
251.28
451.43
15.83
(16.48)
355.72
695.79
646.32
(86.72)
11.52
na
718.49
259.17
83.81
140.72
1,653.73
68.73
16.19
(12.00)
510.46
510.46
634.82
912.28
302.20
302.20
21.31
Dec'12
3,754.28
46.61
243.88
9.76
5.40
(10.30)
(10.30)
(8.25)
18.39
(229.44)
571.41
(12.87)
407.70
3.85
25.38
116.40
(4.99)
Net
Sep'12
2,829.13
50.92
81.21
1.28
(25.48)
88.83
161.15
123.96
0.18
(12.27)
0.24
0.24
16.88
30.98
(34.78)
521.99
31.20
345.02
6.92
57.21
130.24
(6.86)
(4.22)
90.02
159.02
151.07
(40.30)
2.09
206.66
61.28
19.62
25.58
497.19
12.32
10.83
(8.12)
224.64
224.64
687.79
365.0
106.74
106.74
12.37
265.13
60.27
7.44
51.63
420.40
13.74
0.56
(3.24)
175.57
175.57
(8.75)
156.7
125.04
125.04
(23.23)
Profits
Jun'12
2,253.83
8.04
118.11
26.77
(13.30)
3.06
(21.41)
(21.41)
27.99
21.22
395.95
533.17
23.67
285.68
7.21
60.82
81.06
13.76
(4.50)
(16.65)
54.00
(15.79)
(4.76)
(17.71)
148.94
70.28
18.03
36.29
260.77
12.76
1.87
(14.07)
(19.99)
(19.99)
0.63
171.94
Mar'12
3,372.02
25.14
193.97
22.04
35.55
4.97
(0.85)
(0.85)
(15.02)
34.73
0.58
661.10
(3.44)
136.35
9.36
107.88
123.73
13.92
(4.93)
193.52
321.62
387.08
(41.84)
39.41
97.76
67.34
38.73
27.23
475.37
29.92
2.93
13.42
130.24
130.24
(44.86)
218.66
70.42
70.42
32.17
20
Trailing
EPS
30.69
10.64
14.21
0.08
na
na
na
0.46
10.65
2.21
19.06
0.53
19.62
3.42
11.53
5.61
1.16
na
11.86
13.12
11.84
na
0.42
na
0.76
3.01
7.44
12.61
14.93
17.86
4.21
na
1.68
1.68
1.18
1.39
0.98
17.29
0.39
Trailing
PE
10.26
4.2
7.2
7.2
151.9
na
na
na
58.3
7.0
21.7
17.4
32.4
6.6
9.1
6.5
7.8
28.9
na
10.1
6.1
6.1
na
37.1
na
9.0
10.0
10.1
3.5
7.1
5.6
32.4
na
15.5
11.9
2.1
8.7
7.8
0.9
23.5
PBV
Mkt Cap Mn
1.80
1.0
0.8
0.7
0.7
0.9
3.4
1.3
7.5
0.8
1.1
9.6
1.7
1.3
0.7
0.8
2.2
0.8
na
1.4
1.4
0.9
1.5
0.8
na
1.9
1.4
1.1
8.9
1.4
1.0
0.6
6.2
1.3
1.0
0.8
1.4
1.1
0.1
0.8
545.13
4,605.82
428.83
330.41
219.46
392.54
230.05
1,258.62
741.32
2,868.00
39,720.00
1,249.85
7,776.01
248.00
1,635.00
3,529.56
457.67
1,665.70
3,600.00
4,244.03
3,931.20
210.60
427.00
1,597.46
6,460.59
2,587.60
845.09
495.67
11,799.07
384.80
524.64
653.37
5,265.00
2,025.00
1,343.78
7,925.53
2,367.95
262.11
499.74
Sri Lanka Focus
31st May 2013
Broad Market
Guide
Company
Year
End
ASIA RESEARCH TEAM
Price Performance
1W(%)
1M(%)
1.27
15.58
1.31
1.37
(0.25)
44.27
(4.20)
14.69
1.35
9.70
(0.04)
7.36
5.57
20.08
1Q(%)
15.73
(1.74)
34.28
5.37
13.00
6.52
27.12
1Y(%)
18.37
26.82
(33.16)
(1.00)
1.08
53.13
58.90
Shares
Mn
1.20
15.20
8.88
3.62
6.03
67.27
Trailing
ROE
23.23%
5.40%
31.89%
11.70%
30.65%
24.93%
31.63%
BVPS
484.10
174.79
864.25
688.92
115.39
99.41
Net Profit
4Qtrs
4,829.59
31.35
847.24
897.43
764.65
173.54
2,115.38
Dec'12
352.07
8.14
5.60
4.50
143.31
53.32
137.20
Net
Sep'12
562.72
12.18
51.28
113.23
24.14
40.79
321.10
Profits
Jun'12
1,810.28
4.38
130.55
352.36
317.09
37.12
968.78
Mar'12
2,104.52
6.65
659.81
427.34
280.11
42.31
688.30
4,783.56
3,820.24
235.38
166.74
340.21
220.98
1,182.34
1,071.82
18.19
20.07
44.32
27.94
1,001.86
832.97
34.69
31.80
63.85
38.56
685.30
353.77
72.40
73.48
105.66
79.99
1,914.06
1,561.69
110.09
41.40
126.38
74.50
5,710.21
495.05
118.34
187.87
44.61
204.18
72.56
693.32
586.05
607.61
(13.86)
318.31
318.31
345.49
427.90
233.50
10.53
897.83
363.40
117.54
2,031.12
304.74
(10.62)
146.26
(46.86)
100.79
(0.86)
168.76
199.06
190.95
59.74
8.11
8.11
123.89
147.20
164.90
(43.91)
286.59
125.46
106.93
1,365.79
160.60
(12.17)
88.90
13.43
41.06
13.20
155.61
173.22
107.80
(42.92)
94.02
94.02
21.51
103.40
35.16
0.70
186.23
133.19
92.84
1,103.31
(1.16)
73.87
49.14
52.29
11.54
29.26
122.68
128.20
104.76
26.51
114.84
114.84
34.22
72.29
26.62
37.14
157.32
63.81
-
1,209.99
30.87
67.25
(96.44)
25.75
50.79
30.96
246.28
85.57
204.10
(57.18)
101.34
101.34
165.87
105.01
6.81
16.60
267.69
40.94
(82.23)
3,320.99
(146.78)
1,692.75
593.28
287.03
287.04
390.80
503.91
1,822.74
(45.09)
1,365.90
220.29
54.48
54.48
99.12
128.05
510.06
(38.10)
104.26
112.21
49.92
49.92
94.57
187.20
577.66
372.44
(101.69)
111.95
84.55
102.55
102.55
84.46
90.62
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
890.00
118.00
570.00
1864.90
245.00
121.00
OIL PALMS
BUKIT DARAH
GOOD HOPE
INDO MALAY
SELINSING
SHALIMAR
BUKIN
GOODN
INDON
SELIN
SHALN
MainB
MainB
MainB
MainB
MainB
M
M
M
M
M
710.00
1338.00
1370.00
1200.00
999.50
1.63
(0.95)
21.64
1.48
8.11
(0.05)
1.48
(1.39)
20.53
3.79
(0.41)
11.06
3.51
0.65
2.92
1.48
23.71
19.70
(1.87)
(4.63)
10.07
(7.99)
9.19
12.68
102.00
6.87
7.00
6.94
6.94
8.90%
12.20%
4.45%
3.19%
5.33%
3.98%
306.91
770.12
745.97
920.40
800.08
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
30.50
31.80
12.50
37.00
28.20
36.90
116.00
83.90
56.00
14.10
4.90
4.60
13.20
85.00
25.50
27.40
12.70
19.00
29.50
45.50
(0.72)
(11.88)
(5.92)
7.56
(0.70)
0.82
(5.25)
3.20
(0.18)
(6.62)
1.54
(2.61)
(0.78)
(8.05)
(1.55)
2.73
3.91
-
2.45
(10.59)
(3.64)
4.17
6.42
1.93
0.62
5.66
(3.42)
6.52
(2.13)
3.13
3.66
3.24
(2.14)
8.55
4.44
8.55
-
6.36
(7.60)
(12.64)
(2.34)
8.82
6.42
11.14
1.52
(1.29)
7.49
17.50
8.89
2.22
8.20
17.12
4.08
14.17
9.48
8.05
39.05
-
30.21
4.47
64.77
73.61
(9.76)
59.32
39.77
24.81
(1.29)
(7.59)
65.88
40.00
39.39
16.81
37.06
70.00
58.38
81.43
86.14
94.67
-
25.00
23.64
83.75
46.32
25.00
79.89
25.00
34.00
40.00
29.00
224.59
23.00
53.95
23.75
23.75
19.40
236.67
72.87
17.26
21.30
18.22%
40.91%
8.09%
19.29%
2.90%
17.40%
6.71%
20.77%
22.82%
21.62%
na
14.81%
14.81%
20.51%
22.70%
17.23%
2.42%
26.57%
20.69%
16.32%
na
48.40
61.87
11.63
33.18
46.94
13.54
133.52
75.54
70.27
62.74
8.68
8.68
31.22
79.37
57.07
22.39
14.28
24.11
41.72
56.68
ASHAN
AMSLN
ASIRN
CHL N
CHL X
LHCLN
NHL N
DiriSaviB
MainB
MainB
MainB
MainB
MainB
MainB
M
M
M
M
M
M
M
294.00
10.60
15.60
106.00
80.00
42.80
3.30
0.19
(1.85)
1.30
(0.09)
5.26
(0.24)
-
4.15
10.94
7.07
4.00
3.92
6.52
(2.33)
6.45
19.18
6.95
12.77
35.65
1.92
11.11
15.07
13.79
58.97
20.54
41.33
105.26
51.43
40.35
74.27
17.86
22.33
528.46
1099.09
25.53
8.35
223.73
1409.51
14.68%
na
44.44%
8.34%
11.24%
11.24%
10.82%
14.06%
87.79
7.21
6.47
72.7
72.7
16.15
2.54
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
HEALTH SERVICES
ASIRI CENTRAL
ASIRI SURGICAL
ASIRI HOSPITAL
CEYLON HOSPITALS [V]
CEYLON HOSPITALS [NV]
LANKA HOSPITALS
NAWALOKA
110.65
176.23
80.08
80.08
112.65
98.04
21
Trailing
EPS
PBV
Mkt Cap Mn
26.13
55.74
101.10
211.18
28.76
31.45
Trailing
PE
5.03
34.1
2.1
5.6
8.8
8.5
3.8
1.17
1.8
0.7
0.7
2.7
2.1
1.2
1,068.00
1,793.60
5,059.57
6,752.51
1,478.24
8,139.32
37.45
34.26
23.83
49.02
31.84
22.3
19.0
39.1
57.5
24.5
31.4
2.0
2.3
1.7
1.8
1.3
1.2
72,420.00
9,193.81
9,587.81
8,328.10
6,936.61
19.80
5.01
2.24
0.96
8.17
0.91
27.73
17.24
15.19
na
1.29
1.29
6.40
18.02
9.83
0.54
3.79
4.99
6.81
na
4.6
1.5
6.4
5.6
38.4
3.5
40.6
4.2
4.9
3.7
na
3.8
3.6
2.1
4.7
2.6
50.5
3.3
3.8
4.3
na
0.84
0.6
0.5
1.1
1.1
0.6
2.7
0.9
1.1
0.8
0.2
0.6
0.5
0.4
1.1
0.4
1.2
0.9
0.8
0.7
0.8
762.50
751.64
1,046.88
1,713.68
705.00
2,947.93
2,900.00
2,852.60
2,240.00
408.90
1,100.49
105.80
712.19
2,018.75
605.63
531.53
3,005.67
1,384.46
509.31
969.15
na
3.20
0.54
8.47
8.47
1.75
0.36
14.1
na
3.3
28.9
12.5
9.4
24.5
9.2
2.07
3.3
1.5
2.4
1.5
1.1
2.7
1.3
6,566.18
5,601.65
17,145.84
2,705.89
667.64
9,575.74
4,651.37
Sri Lanka Focus
31st May 2013
ASIA RESEARCH TEAM
22
Broad Market
Guide
Company
Year
End
Price Performance
1W(%)
1M(%)
2.73
22.27
2.81
33.58
(2.57)
1.95
3.47
3.18
24.07
21.83
0.29
(5.26)
1.01
11.11
2.08
(2.00)
3.57
3.57
1Q(%)
30.31
44.78
6.80
23.22
40.55
(14.76)
16.55
4.26
(3.33)
1Y(%)
42.12
45.70
44.74
53.92
1,099.33
(11.17)
(23.08)
4.26
-
Shares
Mn
60.80
2.94
2.84
0.04
0.05
0.10
114.00
260.00
Trailing
ROE
23.49%
33.08%
7.77%
na
na
1.63%
na
21.24%
12.06%
BVPS
42.09
50.33
65.41
271.92
663.80
62.58
1.86
2.03
Net Profit
4Qtrs
864.86
846.37
11.49
(100.55)
(1.20)
0.54
(0.56)
45.06
63.71
5.10
55.40
Net
Sep'12
85.64
78.67
3.84
(39.85)
(1.05)
1.20
0.12
8.50
34.21
Profits
Jun'12
26.82
55.55
4.40
(49.20)
1.27
0.68
0.13
13.99
Dec'12
96.88
48.66
1.02
(13.30)
Mar'12
685.67
663.49
2.23
1.80
(4.56)
(1.97)
(1.10)
17.47
8.31
Trailing
EPS
PBV
Mkt Cap Mn
13.92
3.91
na
na
10.80
na
0.40
0.25
Trailing
PE
9.22
6.6
28.1
na
na
157.9
na
12.4
11.8
2.17
2.2
2.2
2.8
6.6
2.6
16.0
2.6
1.4
5,563.20
323.10
525.47
62.98
85.25
100.03
558.60
754.00
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
91.50
110.00
184.70
1799.00
1705.00
1000.00
4.90
2.90
STORES AND SUPPLIES

COLOMBO PHARMACY
E B CREASY
GESTETNER
HUNTERS
PHARN
EBCRN
GESTN
HUNTN
MainB
MainB
MainB
MainB
M
M
M
M
625.10
1250.00
199.00
420.00
(4.60)
(5.52)
(5.98)
(0.50)
(2.99)
22.78
15.96
27.57
26.75
17.97
33.39
45.26
30.91
7.57
40.24
40.40
16.22
31.60
11.80
83.00
1.27
2.54
2.28
5.15
7.61%
11.41%
11.46%
21.37%
1.00%
710.10
1044.38
37.91
435.41
447.51
103.16
303.50
18.45
22.40
222.51
(4.23)
188.43
12.73
25.58
54.70
20.02
30.70
2.04
1.94
(58.55)
(3.33)
(34.00)
1.04
(22.26)
228.86
90.70
118.37
2.65
17.14
81.05
119.70
8.10
4.35
14.70
7.7
10.4
24.6
96.5
1.12
0.9
1.2
5.2
1.0
795.66
3,169.32
453.35
2,160.90
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
124.00
74.80
7.50
10.00
16.20
48.70
99.50
2850.00
2.30
(0.75)
(2.97)
3.03
19.35
(0.99)
(2.99)
(1.42)
(1.49)
9.20
-
2.94
(0.72)
12.33
23.33
(1.96)
(7.43)
(7.06)
3.23
0.48
(4.35)
7.52
13.85
17.82
42.31
11.11
7.28
4.28
(0.80)
42.50
-
15.82
5.17
24.92
76.19
38.89
35.00
11.44
16.02
211.78
10.00
70.88
35.99
140.20
117.45
349.37
2.40
125.21
0.08
180.00
5.82%
1.63%
12.80%
0.20%
4.83%
3.31%
na
21.47%
13.08%
na
194.46
48.18
6.25
8.94
24.06
9.07
38.54
467.91
1.67
1,807.75
224.16
221.97
1.73
50.71
278.18
(4.95)
1,036.27
5.10
(5.43)
(294.67)
(498.97)
17.61
2.55
(39.95)
31.72
(3.72)
194.18
300.32
(219.96)
85.92
(3.25)
39.55
83.85
0.34
310.05
3.81
1.91
294.12
190.84
11.59
6.83
(16.69)
(80.65)
(0.06)
194.17
(2.77)
(9.14)
1,503.59
752.25
106.85
(4.40)
67.80
243.26
(1.51)
337.87
(4.93)
6.40
3.16
6.17
0.01
0.43
0.80
na
8.28
61.18
na
18.03
39.2
12.1
607.2
23.2
20.3
na
12.0
46.6
na
1.05
0.6
1.6
1.2
1.1
0.7
5.4
2.6
6.1
1.4
8,788.50
2,691.94
1,051.47
1,174.46
5,659.75
116.88
12,458.36
237.56
414.00
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
20.70
27.00
3.80
6.30
30.50
23.50
5.90
2.70
11.20
0.14
0.49
(1.47)
(2.56)
2.69
3.96
(1.67)
3.85
(0.93)
3.40
3.50
(2.54)
10.71
11.72
13.46
(6.35)
0.94
19.32
(1.43)
29.95
8.57
6.90
26.56
40.48
1.72
7.00
37.31
16.29
56.40
(20.83)
21.57
58.03
105.22
18.00
22.73
(6.96)
125.20
532.53
477.27
747.11
335.00
52.00
109.09
500.00
100.00
13.88%
8.84%
17.55%
2.10%
12.98%
14.51%
14.51%
na
7.70%
11.39%
19.90
22.95
2.30
2.82
16.76
16.76
7.07
1.55
6.67
3,694.40
220.10
2,144.18
23.02
273.51
941.15
941.15
(43.37)
59.80
76.00
1,226.44
75.61
728.08
36.12
120.10
228.99
228.99
(8.04)
38.98
6.60
1,842.14
81.00
1,183.00
6.13
112.97
427.45
427.45
(1.80)
2.09
31.30
299.56
39.33
191.86
8.40
56.05
583.76
24.17
41.24
(27.63)
(15.61)
539.21
539.21
(25.85)
7.13
41.10
1.76
4.03
0.05
0.37
2.43
2.43
na
0.12
0.76
10.30
11.8
6.7
78.8
17.2
12.5
9.7
na
22.6
14.7
1.43
1.0
1.2
1.7
2.2
1.8
1.4
0.8
1.7
1.7
2,591.64
14,378.31
1,813.62
4,706.79
10,217.50
1,222.00
643.62
1,350.00
1,120.00
(5.70)
5.84
(12.08)
(13.35)
(23.37)
2.52
(2.35)
1.79
(25.82)
1.27
7.00
3.20
(1.43)
(8.82)
4.55
6.90
1.47
(24.39)
64.29
(44.64)
122.13
343.40
na
na
1.22
4.04
na
(23.37)
(6.60)
9.12
2.87
(5.22)
1.79
3.23
(29.05)
83.61497
754
na
na
na
na
5.8
0.8
854.92
1,098.88
9.50
42.50
(1.73)
(2.06)
(1.39)
0.59
2.15
(0.93)
1.13
5.56
(2.97)
30.38
69.64
5.72
8143.78
1804.86
11.06%
17.24%
6.85%
4.57
30.22
10,149.98
6,410.98
3,739.00
1,805.68
928.68
877.00
6,545.20
4,744.20
1,801.00
1,965.01
1,269.01
696.00
(165.91)
(530.91)
365.00
15.18
12.1
20.5
1.68
2.1
1.4
77,365.89
76,706.55
INFORMATION TECHNOLOGY
E-CHANNELLING
PC HOUSE
ECL N
PCH N
DiriSaviB M
MainB
M
TELECOMMUNICATIONS
DIALOG TELEKOM
SRI LANKA TELECOM
DIALN
SLTLN
MainB
MainB
D
D
Note:
Counters which are listed on Dirisavi board will reflect 6 months results under
1QCY2012 and 3QCY2012.
-1.52%
(7.68)
11.60
0.79
2.07
Research
Manager - Research
BalakrishnanNirmalan
Assistant Manager - Research

(94-11)5320362
nirmalan@asiacapital.lk
AmaliPerera
Corporates
(94-11)5320256
amali@asiacapital.lk
Economy
Shan Silva
Yogini Yogarasa
(94-11)5320251
(94-11)5320361
DhanushaPathirana
Travis Gomez
(94-11)5320254
(94-11)5320254
Statistician
NuwanPradeep
(94-11)5320257
Sales
Institutional Sales
Retail Sales
SabriMarikar
(94-11) 5320224
077 3-576868 sabri@asiacapital.lk
ShiyamSubaulla
(94-11)5320218
0773-502016
shiyam@asiacapital.lk
NiroshanWijayakoon
(94-11) 5320208
0777-713645
niroshan@asiacapital.lk
PriyanthaHingurage
(94-11)5320217
0773-502015
priyantha@asiacapital.lk
NiyazAboobucker
(94-11) 5320213
0777-727352
niyaz@asiacapital.lk
SubeethPerera
(94-11)5320227
0714-042683
subeeth@asiacapital.lk
ManjulaKumarasinghe
(94-11) 5320211
0777 -874310 manjula@asiacapital.lk
NelukaRodrigo
(94-11)5320214
0777-366280
neluka@asiacapital.lk
ChelakaHapugoda
(94-11)5320240
0777 -256740 chelaka@asiacapital.lk
GaganiJayawardhana
(94-11)5320236
0714-084953
gagani@asiacapital.lk
ChamindaMahanama
(94-11) 5320223
0777 -556582 mahanama@asiacapital.lk
ShamalPerera
(94-11)5320219
077-3717558
shamal@asaiacapital.lk
HiranBibile
(94-11) 5320238
0777 -352032 hiran@asiacapital.lk
NuwanEranga
(94-11)5320246
0777368012
eranga@asiacapital.lk
NiroshanRathnam
(94-11) 5320242
0773 -717515 ratnam@asiacapital.lk
RomeshPriyadarshana
(94-11)5320228
0772548795
priyadarshana@asiacapital.lk
JeevanHettigoda
FarajFouz
MiflalFarook
(94-11) 5320220
(94-11) 5320210
(94-11) 5320247
0773 -691256 jeevan@asiacapital.lk

0773 -810159 faraj@asiacapital.lk
0772-253730 miflal@asiacapital.lk
RukshanLiyanage
NathashaMunasinghe
IreshaFernando
SharikaRathnayake
(94-11)5320235
(94-11)5320231
(94-11)5320232
(94-11)5320209
077-3413297
0777-569266
0777359012
0777567994
rukshan@asiacapital.lk
nathasha@asiacapital.lk
iresha@asiacapital.lk
sharika@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, AnagarikaDarmapala Mw,

Matara
Peoples Leasing Building,2nd Floor,No.118,Matara Road,Galle
(041)-5677525
(041)-5677526
(041)-5620727
(091)-5629998
0773-687307
0778-628798
Galle
SumedaJayawardena
LalindaLiyanapathirana
MaheshaMadurangi
RuchiraHasantha
0773-687027
sumeda@asiacapital.lk
rishan@asiacapital.lk
mahesha@asiacapital.lk
ruchira@asiacapital.lk
Negombo
Asia Asset Finance, 171/1, Station Road, Negombo.
UthpalaKarunatilake
(031)-5676881
0773-691685
uthpala@asiacapital.lk
Moratuwa
Asia Asset Finance, No.18, New De Zoysa Rd, Moratuwa.

CharithPerera
(011)-5238663
charithn@asiacapital.lk
Panadura
Asian Alliance Building, 293, Galle Road, Panadura
RanganathWijetunga
AsankaChaminda
(038)-5670400
(038)-5670407
0715-120723
0713-559552
ranganath@asiacapital.lk
chaminda@asiacapital.lk
Kandy
132 2/7, Hill City Complex,

D. S .Senanayake Street, Kandy.
NilupulHettiarachchi
(081)-5628500
0777410164
nilupul@asiacapital.lk
RadhikaHettiarachchi
TharinduPriyankara
Ravi De Mel
NalakaDhanushka
DanushkaBoteju
KasunNavoda
(081)-5625577
(081)-5625577
(063)-5679071
(063)-5679070
(011)-5634803
0773692242
0777282586
0772-681995
0771-520376
0716-270527
radhika@asiacapital.lk
priyankara@asiacapital.lk
ravide@asiacapital.lk
nalaka@asiacapital.lk
boteju@asiacapital.lk
Ampara
Bandula Cinema Shopping complex, No-103,D S Senanayaka Street, Ampara.
Kiribathgoda
Level 2-6,Udeshi City Shopping complex, No 94,Makola Rd,Kiribathgoda
Service Centers
Hambantota
Hambanthota Chamber of Commerce, ThangalleRoad,Hambantota.
SherminRanasinghe
SamithEdirisinghe
(047)-5679240
0777681866
0775-486869
shermin@asiacapital.lk
samith@asiacapital.lk
Jaffna
62/20, First Floor, Stanley Road, Jaffna
GratianNirmalan
S.Puviraj
(021)-5671800
(021)-5671801
0777-567933
0775-096969
nirmal@asiacapital.lk
puviraj@asiacapital.lk
ASIA WEALTH MANAGEMENT CO. (PVT) LTD.

21-01, West Tower, World Trade Center,
Echelon Square, Colombo 01
The report has been prepared by Asia Wealth Management Co (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 Wealth Management Co (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
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Weekly 22

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May 2013

Sri Lanka Focus

31st May 2013

ASIA RESEARCH TEAM 1

Weekly Review by Asia Wealth Management Research

ASI Daily Closing

Market loses steam owing to profit booking....

Colombo Stock Exch

7th October 2011

The week concluded on a negative note with

Colombo Bourse Billion Ruppee Club

Table below shows the members who have

ASI closing (LHS)

All Share Index

Colombo Stock Exch

Both indices showed signs of consolidation during the

Major Price Movements

Weekly overview of commodity trading

Launch of the 30-year bond is

Analysis of Various Warrants Listed on CSE

Nation Lanka Finance

Nation Lanka Finance (Warrant 21)

Environmental Resources Investments

Blue Diamonds (Non Voting)

Seylan Merchant Bank

Central Investment & Finance

Nation Lanka Finance (Warrant 21)

Singalanka Standard Chemicals

Nation Lanka Finance

J L Morison Sons & Jones

Central Investment & Finance

J L Morison Sons & Jones (Non Voting)

Seylan Merchant Bank (Non Voting)

Ceylon & Foreign Trades

Sri Lanka Focus

31st May 2013

ASIA RESEARCH TEAM 2

Sri Lanka Focus

31st May 2013

ASIA RESEARCH TEAM 3

Colombo Bourses Billion Rupee Club

JOHN KEELLS HOLDINGS

COMMERCIAL BANK [V]

COMMERCIAL BANK [NV]

SRI LANKA TELECOM

ASIAN HOTEL & PROPERTIES

ACCESS ENGINEERING LIMITED

SEYLAN BANK [V]

SEYLAN BANK [NV]

CEYLON COLD STORES

CEYLON TEA SERVICES

NATIONS TRUST BANK

CEYLINCO INSURANCE [NV]

CEYLINCO INSURANCE [V]

VALLIBEL ONE LIMITED

JOHN KEELLS HOTELS

Sri Lanka Focus

31st May 2013

ASIA RESEARCH TEAM 4

Price According to Black

Sri Lanka Focus

31st May 2013