Sri Lanka gearing up for period of continuous growth: Softlogic Stockbrokers

Sep 03, 2015 (LBO) – Sri Lanka is heading into a decisive phase and we expect continuous growth in the island for the next few years through consistent government policy, a senior stockbroker said.

“I think this is a critical phase for the country and we are looking at a new horizon,” Dihan Dedigama, Chief Executive Officer Softlogic Stockbrokers, said.

“It has been a tough 4 years for the industry and we are finally seeing a silver lining.”

He was speaking at an investor forum organized by the company on Wednesday in Colombo. Commercial Bank, Textured Jersey and Softlogic Holdings, made presentations at the event.

“We are expecting guidance from the President, Prime Minister and the National Government and hope to see 4-5 years of continuous growth, which has sometimes been lagging due to certain policy decisions not being in favour of the private sector in the past.”

With end of the 30 year war in 2009, the stock market rose euphorically through the early days of 2012, including a gain of over 90 percent in 2010. Since the 2012 correction stabilized in the fall of 2012, the Colombo Stock Exchange (CSE) All Shares Index has been range bound between 5,300 and 7,500 over the last three years.

Sri Lanka’s GDP has steadily grown at a rate between 6 – 8 percent in the past few years.