Financial Times

CT Smith records highest turnover at CSE
The Colombo Stock Exchange has ranked CT Smith Stockbrokers (Pvt) Ltd., No.1 in terms of overall turnover for 2002. CT Smith holds the distinction of having earned the top slot for turnover for eight of its 10 years of existence, the company said in a statement.

This ranking also included the years 1994 and 2002 when the Colombo Stock Exchange recorded the highest levels of turnover. The company's contribution of 14% to the CSE turnover for the year ended 31st December 2002 was only surpassed by its impressive contribution of over 18% to total turnover for the 10 years ended 31st December 2002. CT Smith contributed over 20% to turnover during 6 of its 10 years.

Foreign activity on the exchange over the past 10 years was dominated by CT Smith, contributing 37% to the CSE total foreign turnover for the past 10 years. The company's share of foreign turnover for the year 2002 was also 37%.

The company has a broad-based foreign and domestic institutional clientele and has working relationships with international broking firms.

CT Smith Stockbrokers (Pvt) Ltd., a member of the Ceylon Theatres Group, began operations as a member of the Colombo Stock Exchange on November 1, 1992. The company says it has not downsized its staff strength or services which many other brokering firms have done - even when the markets were depressed during slack years in recent times.

Letter
Build on growth momentum-chamber
The Business Chamber of Commerce says it is confident the government will continue to vigorously pursue the path of peace and also work towards further restoration of the economy this year. The Business Chamber of Commerce says it is confident the government will continue to vigorously pursue the path of peace and also work towards further restoration of the economy this year. “It is needless for us to state that the historic peace initiative laid these foundations for the revival of economic activity.

Investor confidence, often mirrored in share transactions, is one of the standard methods adopted in measuring the state of an economy. The recent trends in the share market speaks well for the growing confidence that the investors have in the future of the economy at least from a medium term perspective,” it said in a statement.

But it noted the importance of an all round increase in the momentum of economic growth, so that Sri Lanka will firmly emerge from its long run of slow growth and economic disarray.

The chamber warned against the impact on the local economy if war breaks out in Iraq.

Thalawakelle Plantations praises Outward Bound programme
Executives and staff of Thalawakelle Plantations Ltd who participated in an Outward Bound "Weekend Challenge" training programme late last month organised by the Sri Lanka Business Development Centre (SLBDC) in collaboration with the Outward Bound Trust of Sri Lanka (OBTSL), has praised the programme. The Outward Bound Professional Training develops capacities of mind, body and spirit to better understand ones' responsibilities to self, others and community.

The participants become aware of the tremendous energy that lies beneath the surface of the daily grind, energy that springs as much from the spirit as from the minds of people who work in organisations, an SLBDC statement said.

"This is the first occasion I had followed a wonderful training programme of this nature. The whole programme was really interesting, exiting and educative. The activities such as rock climbing and rafting were amazing. The resource personnel were in excellent command and explained everything in detail.

Their instructions and encouragement were the main keys to our success. I am sure, though we as Sri Lankan's are very late in adopting modern management concepts. Outward Bound Training Programmes can fill the gap. This is an excellent programme to anyone who wants to be an effective leader today to face the challenges," a spokesman for the plantation company was quoted as saying.

Back to Business