H.D.H Senewiratne
Securities and Exchange Commission (SEC) Chairman Dr. Nalaka Godahewa called on investor advisors in the Colombo Stock Exchange (CSE) to be more ethical and responsible in their dealing to boost investor confidence in the market.
“Investor advisors are now fortunate with the country's economy on the forward march after three decades of war and they could play a pivotal role in the capital market,” Dr. Godahewa told a seminar on Capital Markets Training last Saturday organized by the Colombo Stock Broker's Association. He said all investor advisers should follow ethics and work with sense of responsibility while doing the right thing to build investor confidence in the stock market, which is important to build a strong capital market in the country. “At this juncture, the country's economy is growing at 7 to 8 percent and the capital market could play a pivotal role to increase their contribution to the country's GDP, which contribution towards the GDP is only 30 percent now, he said. Dr Godahewa said that in matured markets in the region, capital market contribution to the GDP is more than 70 percent to 80 percent, while certain markets it is 100 per cent.
“But now with the government's proper economic policies our stock market is also poised for growth,” he said.
Foreign investor contribution in the stock market which is 36.5 percent, could be increased further for front-lines or investor advisers in the market. Since, a lot of infrastructure projects are in place and therefore government economic policies are now moving in the right direction, he added.
Therefore the government's plan to become a US $ 100 billion economy and to increase the per capita income to US $ 4000 by 2016 and could be achieved with these proper economic foundations.
Because of that foreigners have shown keen interest about the government's post war development achievements, he said. Dr Godahewa said that SEC is constantly in consultation with CSE and other stakeholders in the sector to improve the market in order to increase their contribution to the national GDP and also attract foreign and local investors.
SEC is also focusing on listed companies activities and closely monitoring errant directors who misappropriate funds of companies and many measures improve the credibility in the market, he said.
Chief Executive Officer CSE Rajeeva Bandaranaike said ethics in the market is important to enhance investor confidence in market activities.
www.dailynews.lk
Securities and Exchange Commission (SEC) Chairman Dr. Nalaka Godahewa called on investor advisors in the Colombo Stock Exchange (CSE) to be more ethical and responsible in their dealing to boost investor confidence in the market.
“Investor advisors are now fortunate with the country's economy on the forward march after three decades of war and they could play a pivotal role in the capital market,” Dr. Godahewa told a seminar on Capital Markets Training last Saturday organized by the Colombo Stock Broker's Association. He said all investor advisers should follow ethics and work with sense of responsibility while doing the right thing to build investor confidence in the stock market, which is important to build a strong capital market in the country. “At this juncture, the country's economy is growing at 7 to 8 percent and the capital market could play a pivotal role to increase their contribution to the country's GDP, which contribution towards the GDP is only 30 percent now, he said. Dr Godahewa said that in matured markets in the region, capital market contribution to the GDP is more than 70 percent to 80 percent, while certain markets it is 100 per cent.
“But now with the government's proper economic policies our stock market is also poised for growth,” he said.
Foreign investor contribution in the stock market which is 36.5 percent, could be increased further for front-lines or investor advisers in the market. Since, a lot of infrastructure projects are in place and therefore government economic policies are now moving in the right direction, he added.
Therefore the government's plan to become a US $ 100 billion economy and to increase the per capita income to US $ 4000 by 2016 and could be achieved with these proper economic foundations.
Because of that foreigners have shown keen interest about the government's post war development achievements, he said. Dr Godahewa said that SEC is constantly in consultation with CSE and other stakeholders in the sector to improve the market in order to increase their contribution to the national GDP and also attract foreign and local investors.
SEC is also focusing on listed companies activities and closely monitoring errant directors who misappropriate funds of companies and many measures improve the credibility in the market, he said.
Chief Executive Officer CSE Rajeeva Bandaranaike said ethics in the market is important to enhance investor confidence in market activities.
www.dailynews.lk
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