Lanka Securities Morning Note 18 June 2015

Melissa Pereira Fri Jun 19, 2015 9:53 am

Today:
Bairaha Farms - Dividend payment date (LKR 2.50 per share)
Pegasus Hotels of Ceylon - XD date (LKR 0.50 per share)

Tomorrow:
John Keells - Dividend payment date (LKR 3.75 per share)
Tea Smallholder Factories - Dividend payment date (LKR 0.50 per share)
Asian Hotels & Properties - Dividend payment date (LKR 3.00 per share)
Trans Asia Hotels - Dividend payment date (LKR 2.00 per share)
Singer Finance (Lanka) - Dividend payment date (LKR 1.25 per share)

Sri Lanka to grow 7.2% in 2015: Ravi: Defying critics, Finance Minister Ravi K yesterday defended Government policies, showcasing first quarter growth of 6.4% and predicted SriLanka would end the year with economic expansion of 7.2%. Karunanayake’s forecast is higher than what economists expect and is above the Central Bank’s estimate of 7% growth for the year. The Central Bank said in April it expected growth to slow from last year’s 7.4% year-on-year because of a slowdown in Government-led construction and subdued private investment in the first quarter amid corruption probes on several Chinese-financed infrastructure projects. “We expect a 7.2% growth this year. Despite the slow construction sector, tourism, garment manufacturing and banking are growing faster,” Ravi told Reuters. “There are a lot of foreign direct investments expected this year.” “Overall, we doubt Sri
Lanka’s economy will be able to match its strong showing of re
cent years,” Tan said, while cutting the 2015 growth estimate to 6.5% from 7%, well below the average 7.4% growth of the past five years.

Please refer the link for more details- http://www.lsl.lk/pdf/research/morningnotes.pdf