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State enterprises will be more transparent, if listed – SEC Chief

Posted by author 1 year, 5 months ago on Feb 5th, 2013 9:45 AM and filed under Markets, Stock Market. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Chairman of Sri Lanka’s Securities and Exchange Commission Dr. Nalaka Godahewa says, listing state enterprises will make those firms to follow strict disclosure regulations set by SEC, thus benefiting the general public.

He says, as of now the public do  not have a way of  knowing the current status of a state enterprise,  such as its business dealings and financial status etc, as those are not disclosed publicly.

Godahewa made this statement, while speaking at the “Warana” program, which is hosted by Sirasa TV on Sundays in a bid to create public awareness about stock market investments.

” We are strongly urging the government to list state enterprises, which will help the CSE”, he revealed.

Taking part in the same program, the Chairman of the CSE Krishan Balendra said, currently they are in the process of discussing with both public and private sector companies to pursue them to get a listing.

He said, it is vital for the CSE to get more IPO’s inboard in order to increase the market capitalization of the Colombo bourse, which is very low compared to the regional counterparts.

Balendra believes that the tax concession given for IPO’s via the government’s latest budget proposal too would be a boost for companies to come forward and list on the CSE.

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