Financial Times

Asia Cap group goes to the North

Two companies of the Asia Capital Group set up their branches in Sri Lanka’s northern peninsular recently. Mano Nanayakara, Chairman of Asia Capital PLC and Deputy Chairman of Asian Alliance Insurance PLC, the two companies of the group who are venturing to the North said, “some say that it is still too early to get in there as the market itself lacks any ground information, for example there is no research available on the demographics. For marketers to move in, they usually need to know the social mood and social behaviour of the community.

But then someone needs to get out there and start the process and we are taking the cue from the government’s call for investors to move in.” He said with the Group’s securities arm moving well ahead of the Stock Exchange, he believes the company as a whole is in fact trail blazing for the rest of the brokers to position themselves.

“We think that it is important for the people of the North to understand that they can be a part of the growth potential of the whole country, and for that the stock market is the best place to be in. We are pleased to note from recent news reports that the SEC is also speeding up their plans to set up a branch of the Stock Exchange in Jaffna. With its high skilled workforce coupled with strategic location and natural resources Jaffna has great potential to develop itself as a regional commercial hub of the future,” he says.

The Jaffna branch of Asia Securities opened for trade on October 5 with a ceremony to mark the occasion which was attended by company staff and the Governor of the Northern Province, Major General GA Chandrasiri who was Chief Guest at the event. The insurance arm of the Group, Asian Alliance set up its Distribution Office in the Jaffna town on September 28.

Top to the page  |  E-mail  |  views[1]
Other Financial Times Articles
> Colombo stock market trading soars
> Garment sector picking up
> Supreme Court considers F&G restructuring plan, special Trust
> Foreign fund gets 10% in Ceylinco Insurance
> CB withdraws 20% bonus interest on RFC/NRFC accounts
> HNB brokers name change
> COMMENT - Emerging out of poverty
An objective analysis of tea imports for re-export
> Expatriate workers rights in the US
> Asia Cap group goes to the North
> Visit of high-powered US biz delegation to Sri Lanka
> IFC-supported Business Cells to help small enterprises grow in Sri Lanka
> Focus on governance challenges at CIMA Summit 2009
> ACHIEVERS award for Mayfair Lanka (Pvt) Ltd
> UN-HABITAT Business Award for Dr Darin Gunesekera
> Sri Lankans down 1 million litres of
> Deutsche launches mobile authorisation in Sri Lanka
> EWIS frontier systematic e-waste management in Sri Lanka
> Emirates Airport Services moves to new office at BIA
> Oil exploration in the Mannar Basin
> Lanka's FDI must double - CB Governor
> Plenty Foods to train IDPs in corn growing
> Trade delegation from Mahratta, India visits FCCISL
> Rural Sri Lanka drives FMCG growth - Nielsen data shows
> Emirates’ Wolgan Valley Resort & Spa opens in Australia
> Plantation companies say management fees brought down
> Sri Lanka poised for BPO growth - Aegis, India
> BOI meets Vietnam delegation
> Troubled Okanda Finance seeks liquidation
> Ceylinco Life helps two schools in Trincomalee
> Asia Miles named “Best Frequent Flyer Programme”
> Asset quality of finance companies deteriorating - RAM Ratings
> Ambitious target of 2.5 mln tourists in 2016 achievable- industry official
> Local NGO prepares new measurement for housing
> Deepal on ‘new ideas’ at TMC Kalutara
> ComBank presents computers to Vocational Training Centre in Tellipallai
> Tourism employees stage protest
> No alcohol on New Year’s Eve
> FR case against SLT dismissed
> Unlawful privatisations in Lanka – Role of the Auditors
> Wonder drugs cost less and saves lives- DPJ Chairman
> Fitch says fiscal targets are ambitious
> Hedging case resumes in Supreme Court
> Ceylinco Insurance - Maldives announces 70 % interim dividend


Reproduction of articles permitted when used without any alterations to contents and a link to the source page.
© Copyright 2009 | Wijeya Newspapers Ltd.Colombo. Sri Lanka. All Rights Reserved.| Site best viewed in IE ver 6.0 @ 1024 x 768 resolution