All posts by Nisansala Munasinghe

JANASHAKTHI GROUP: FROM FAMILY BUSINESS TO CONGLOMERATE

THE WORD JANASHAKTHI MEANS ‘THE STRENGTH OF THE PEOPLE’ AND IT BEGAN WITH A FAMILY OVER TWO DECADES AGO

Janashakthi Group Chairman Chandana de Silva and Managing Director/ Group CEO Ramesh Schaffter discuss the company’s humble origins and transformation into a leading diversified conglomerate in the country. They also share insights on how different businesses and people across the group are aligned to a single vision to embark on the transformational journey envisioned for the group and explore new avenues of growth.

Tell us how Janashakthi Group is creating synergies between its different business units for growth?

Schaffter: Our group’s businesses are leaders in their respective industries, and we have now aligned ourselves to further strengthen our business operations. This business model allows the group companies to share services and leverage synergies and access expertise across a range of functions. Our strength has been our leadership, both at management and board level, who bring a variety of skills and experience from diverse backgrounds. We believe operational excellence and customer service are essential requirements for growth and for staying ahead of the competition.

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First Capital steps forward as Principal Sponsor of the SSC Open Tennis Championships 2021

Colombo 17th February 2021; Investment institution First Capital Holding PLC has come forward as the principal sponsor for the SSC Open Tennis Championships. The SSC Open 2021 is to be conducted from 19th February to 7th March 2021 at the Singhalese Sports Club (SSC) Tennis courts. The championships will be the first major open ranking tournament for the year 2021 having already attracted more than 650 entries and is one of the most anticipated events for the year.

“First Capital is pleased to sponsor the SSC Open Tennis Championships, as we see the impact of tournaments such as this in upholding high standards and enabling high performance.  The Championships have a strong synergy with our corporate values and our brand promise to deliver ‘performance first’. We are confident this partnership will further strengthen the association between our organizations and enable the upliftment of the sport across Sri Lanka”, stated Mr. Dilshan Wirasekara, Director / Chief Executive Officer of First Capital Holdings PLC, at the event to announce the Principal Sponsorship held recently.

The championships will be conducted under the purview of the governing body of the sport, the Sri Lanka Tennis Association and organized by the SSC Tennis House Committee. ‘All health and safety guidelines recommended by the Ministry of Health will be adhered to in conducting the championship, ensuring maximum safety to its participants and stakeholders at large’ said Mr Chammika De Silva the Tournament Director of the SSC Tennis Championships 2021.

The SSC Open Tennis Championships has had a long history and has gained prominence as a steppingstone for young talent, with most of its winners moving on to the national and international stage in the years ahead. This makes the championships one of the most sought-after fixture in the Sri Lankan Tournament calendar, also gaining the trust in its participant as a well-organized event. The championships will comprise of Girls and Boys events from under 12 to under 18 (Singles & Doubles), Men’s and Women’s Singles and Doubles, Mixed Doubles and Veterans events for over 35, over 45 & over 55 age groups.

Long standing supporters of the SSC Open Tennis Championships, Diesel and Motor Engineering PLC (DIMO) and 3 G Sports (Head Tennis Balls) will continue as co-sponsor and the main ball sponsor respectively. Further co-sponsors include ABC Shipping and Ceylon Biscuits Limited (CBL), which will be the nutrition sponsor. The Peoples Bank has also come forward to support the SSC Open this year.

Mr. Mufaddal Hazari, an International Tennis Federation qualified official with long years of experience will serve as the tournament referee.

(Insert photo – with caption) ‘Mr.  Dilshan Wirasekara, Director / Chief Executive Officer, First Capital Holdings PLC (on the Right) handing over the Sponsorship Cheque to Mr. Vasantha Wijesekera, Honourary Secretary, Singhalese Sports Club’, also in the picture (L-R), Mr. Neshan Gunasekera, Honourary Chairman, SSC Tennis House Committee, Mr. Nilanka Peiris, Honourary Treasurer, SSC, Ms. Nisansala Munasinghe, Manager Branding and Marketing Services First Capital Holdings PLC and Mr. Chandana De Silva, Director, First Capital Holdings PLC’

Photo credit – Mr Kamal Wanniarachchi of The Island

 

The First Capital Team – Town Hall Meeting

The First Capital Team have had a great year, marking many milestones while working remotely since October to ensure that our customers’ financial aspirations are achieved, while we protect our staff, our families and our community.

Today we are excited to share some screenshots of our Town Hall meeting where the whole team was logged in together!

#firstcapital #performancefirst #embaringthenewnormal

#teamphot o

First Capital Holdings PLC Announces Appointment of COO

First Capital Holdings PLC has announced the appointment of Tharusha Ekanayake as its Chief Operating Officer (COO) with effect from 09th November 2020. A banking and finance professional, he previously held the role of Vice President / Deputy Head of Treasury – Nations Trust Bank PLC. Tharusha brings 21 years of experience in financial services, spanning Fixed Income Securities, Treasury and Investment Banking activities.

Working across all subsidiaries of the Group, Tharusha will play a critical role in strengthening the Company’s Fixed Income Dealing, Structuring and Trading activities and also Capital Markets Advisory services.

Speaking about the appointment, Director / Chief Executive Officer of First Capital Holdings PLC, Dilshan Wirasekara said: “Tharusha Ekanayake joins us at a crucial juncture in order to drive the future growth of our group businesses. He brings with him a wealth of knowledge on fixed income, further fortifying First Capital’s position as the leader in this space.

Tharusha holds a Bachelor of Science, Special Degree in Chemistry – Honours from the University of Peradeniya.

First Capital Holdings PLC issuer rating upgraded to [SL]A by ICRA Lanka Limited

Stock Brokers in Sri Lanka

ICRA Lanka, has upgraded the issuer rating of First Capital Holdings PLC to [SL]A with Stable outlook from [SL]A- with Stable outlook.

ICRA Lanka has taken a consolidated view of the First Capital group, comprising of First Capital Holdings PLC and its subsidiaries, which is involved in a range of financial services such as primary dealership, equity trading, corporate advisory, debt structuring and asset management. There is a strong interlink between the entities through sharing of a common brand, management team, systems and group treasury functions.

The ratings upgrade factors in the status of the company as the holding company of First Capital Treasuries PLC, the leading standalone primary dealer currently in Sri Lanka with an issuer rating of [SL]A with Stable outlook. The ratings upgrade also factors in the improvement in the capital and gearing profiles, good market position offering diverse financial services, a strong senior management team, risk management processes to reduce market and operational risks, as well as improvement in the capitalization profile through healthy internal generation.

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In photos –

  • Nishan Fernando – Chairman, First Capital Holdings PLC
  • Dilshan Wirasekara – Director/Chief Executive Officer, First Capital Holdings PLC

ICRA Lanka upgrades the ratings of First Capital Treasuries PLC to [SL]A

Rating action

ICRA Lanka Limited, has upgraded the issuer rating of First Capital Treasuries PLC (FCT or “the Company”) to [SL]A (pronounced SL A) from [SL]A- (pronounced SL A minus).

ICRA Lanka has also upgraded the issue rating of the LKR 750 Mn Subordinated, Unsecured, Redeemable Debenture programme of FCT to [SL]A- (pronounced SL A minus) from [SL]BBB+ (pronounced SL triple B plus).

The issue rating of [SL] BBB+ (pronounced SL triple B plus) with stable outlook for the LKR 500 Mn Subordinated, Unsecured, Redeemable Debenture programme of the company has been withdrawn as the said debentures have matured and there is no amount outstanding against the rated instrument. The outlook on the long term ratings remains Stable.

Rationale

ICRA Lanka has taken a consolidated view of the First Capital group (comprising of First Capital Holdings PLC and its subsidiaries), which is involved in a range of financial services such as primary dealership, equity trading, corporate advisory, debt structuring and asset management. There is a strong interlink between the entities through sharing of a common brand, management team, systems and group treasury functions.

The ratings upgrade considers the healthy performance of FCT (a subsidiary of First Capital Holdings PLC rated [SL]A), following the robust earnings of LKR 1,208 Mn and LKR 1,356 Mn in FY2020 and Q1 of FY2021, respectively, in comparison to LKR 96 Mn in FY2019 (LKR 1,671 Mn in FY2018).

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First Capital Wealth Fund announces dividend of Rs. 100 per unit for FY 2019/20

First Capital Asset Management Ltd., the managers of the First Capital Wealth Fund, has announced a dividend of Rs. 100 per unit for the year 2019/20.

The fund has delivered a return of 11.14% (Compounded Annual Growth Rate) since inception as at 5 October.                                                                                                                       
‘Astute assessment of market opportunities, leveraging on interest rate fluctuations and prudent management is attributed to the successful growth of the unit trust funds under our management,” said First Capital Asset Management Ltd. AGM – Asset Management Kavin Karunamoorthy.

“Utilising our expertise as a specialised knowledge and industry expert, in debt market services and prominent non-bank primary dealer in Sri Lanka, we are confident that the unit trusts managed by First Capital Asset Management Ltd. will continue to reap the rewards of timely, well-informed investments,” he added.

First Capital Asset Management, a subsidiary of First Capital Holdings PLC, is licensed and approved by the Securities and Exchange Commission of Sri Lanka (SEC) while Bank of Ceylon (BOC) acts as the trustee and custodian for the fund.

The company specialises in managing investments for high net-worth individuals, trusts and companies. First Capital Asset Management Ltd. is a subsidiary of First Capital Holdings PLC which offers investment solutions in fixed income, equities, wealth management and capital markets advisory.

 

Mid-year Outlook – 3rd Research Conference

First Capital presents “Mid-year Outlook – 3rd Research Conference” a follow-up to the hugely successful “Investment Strategy 2020 – 2nd Research Conference” held in February 2020, at the Oak Room, Cinnamon Grand.

The event is geared to provide participants of the investment community, an overview of our expectations on the economic front mainly on interest rates, AWPLR, exchange rate, bond expectations, GDP forecast etc.

Mid-year Outlook 2020 webinar will be held on Tuesday, 22nd September 2020 at 3.00 pm.

Presenters, Dimantha Mathew and Atchuthan Srirangan from our Research Team will take you through a recap of recommendations of Jan 2020 and post covid-19 revisions, in addition to discussing “Why W-Shaped Recovery?”.

Register today by clicking https://tiikm.zoom.us/webinar/register/WN_J5980arwT5GU3R4yJIPwLA

New Location – Negombo Branch

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