Tag Archives: First Capital

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First Capital Treasuries PLC announces upcoming Initial Public Offering (IPO)

October 21, 2021 Nisansala Munasinghe

Colombo 21 Oct 2021 – First Capital Treasuries PLC, Sri Lanka’s leading non-bank primary dealer recently announced the firm’s intention to enter an Initial Public Offering (IPO). The IPO is scheduled for November 2021 subject to regulatory approval.

The First Capital Treasuries’ IPO aims to offer 7,695,000 ordinary voting shares to the public. The IPO price per share of Rs. 39.00 offers an immediate upside of 15% to 19% to an incoming investor given the value range of Rs. 46.00 to Rs. 48.00 per Share; derived as per the Independent Valuation carried out by E&Y Transaction Advisory Services (Private) Limited. The Issue is managed by the Corporate Finance Division of First Capital Limited.

Commenting on the launch of the IPO, Dilshan Wirasekara Director / Chief Executive Officer of First Capital Treasuries PLC stated, “the decision to list First Capital Treasuries on the Diri Savi Board is part of the Company’s strategy to create liquidity for our shares, broad-base the ownership and to further enhance our brand identity. We invite the public to subscribe for shares of First Capital Treasuries, as we look ahead to further enhance our position in the government securities arena.”

Established in 1982, First Capital Treasuries boasts an illustrious history as the pioneer licensed primary dealer appointed by the Central Bank of Sri Lanka to deal exclusively in Government Securities. Presently, the Company is the market leader amongst non-bank primary dealers with a capital base of Rs. 4.5Bn as at 30th June 2021. The Company continued to account for the highest amongst non-bank primary dealers raising debt for the government, taking up as much as 18% of the total issuance of treasury bonds among all primary dealers in 2020. First Capital Treasuries PLC is a subsidiary of First Capital Holdings PLC, a member of the Janashakthi Group.

Interested parties can contact 0777809154, 0772264770 for further information regarding the IPO process and applications.

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First Capital’s ‘Performance First’ Culture Now Certified by Great Place to Work® In Sri Lanka

October 6, 2021 Nisansala Munasinghe

The ‘Performance First’ work ethic embraced by First Capital Holdings PLC, a Janashakthi Group Company, received industry validation recently as it was certified as a great workplace by the independent analysts at Great Place to Work® in Sri Lanka. First Capital employees engaged in a multi-faceted anonymous survey conducted by Great Place to Work® on their workplace and provided extensive ratings based on which the company earned this valuable credential.

A nationally recognized financial solutions provider, First Capital team members work on a foundation of shared ideas, expertise and knowledge, confident in the belief that their services truly stand out due to an exemplary work ethic that encompasses both productivity and a virtuous way of doing business. The organisation is driven by the motto “performance first” and “performance” is an integral part of the wider Group’s values where people can look forward to a mutually rewarding career at First Capital.

“At First Capital, the entire employee life cycle is carefully designed to create a rewarding career and a motivating work environment for our employees. Values are embedded in our performance culture, and employees are evaluated and rewarded annually on how they live values,” stated Dilshan Wirasekara, Director / Chief Executive Officer at First Capital Holdings PLC. “The Great Place to Work® certification is an excellent testimony to the people practices that are in place at First Capital. To be recognized by Great Place to Work® as a great place to work is indeed an honour, and is a reflection of the Management’s commitments towards its people in enabling a rewarding career within the company.” He added.

According to Great Place to Work®, a great workplace is one in which employees no matter who they are and what they do for the organization are having a consistently positive experience of trusting their leaders, enjoying the people they work with, and having pride in what they do. It is an honour for the company to be recognized by their employees as an organization that fosters respect, trust and fairness.

“We applaud First Capital for seeking employees’ feedback and the opportunity to certify itself,” said Kshanika Ratnayake, CEO of Great Place to Work® in Sri Lanka. “These ratings measure its capacity to earn its own employees’ trust and create a great workplace – critical metrics that anyone considering working for or doing business with First Capital should take into account as an indicator of high performance.”

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‘Rescuing the Sri Lankan Rupee’ – with Dilshan Wirasekara Director / CEO First Capital

September 21, 2021 Nisansala Munasinghe

Director / CEO First Capital Dilshan Wirasekara speaks to Ashwini Vethakan – Dias of LMDtv on the current economic climate, Sri Lanka’s BOP deficits, Public Private Partnerships (PPP), regional leadership confidence post pandemic, Sri Lanka’s IPO culture and about COVID-19 vs. SMEs

Watch the full episode here >> ‘Rescuing the Sri Lankan Rupee’ – with Dilshan Wirasekara Director / CEO First Capital – YouTube

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First Capital Looks to Future Growth with a Performance First Outlook

September 21, 2021 Nisansala Munasinghe

Colombo, September 6, 2021 – First Capital Holdings PLC, a Janashakthi Group Company with over 35 years of industry knowledge, recently concluded its Annual General Meeting presenting the Annual Report 2020-21 on the theme of ‘Performance First’ to its shareholders. The group recorded an exceptional year reaching new financial and non-financial performance milestones, recording Rs. 2.09 billion in Profits After Tax for the financial year 2020-21.

The Company attributed its achievements to the ‘Performance First’ brand strategy adopted throughout First Capital (the Group) to align focus on what mattered across the Group’s businesses, ensuring a consistently high performance output.

“During the last year we came together to establish a strategy to deliver ‘Performance First’. We set about digitalising processes, amped up knowledge development, and enhanced visibility and customer support to enable a performance driven environment for growth. Moreover, we continued to set benchmarks in the non-bank financial services space with the introduction of facilities such as ‘digital onboarding’ to facilitate non-face-to-face Account Opening for Unit Trusts and Government Securities clients, a first in Sri Lanka. This performance focus helped us achieve exceptional results across all our businesses and has set us up for an exciting future trajectory,” stated Dilshan Wirasekara – Director / Chief Executive Officer, First Capital Holdings PLC.

Building on the confidence honed by its years of experience, First Capital consulted and considered stakeholders across the board in formulating the ‘Performance First’ brand promise, focused on exceeding expectations.

“As we look forward to a robust year ahead, we will be delivering on our promises with a solutions mind set, and will continue to go the extra mile for our stakeholders. As one of Sri Lanka’s premier financial solutions providers, we are committed to delivering ‘Performance First’ to our stakeholders and reaching our next phase of growth.” Dilshan Wirasekara added.

First Capital is at the forefront of digital transformation and are committed to developing digital services to provide an enhanced customer experience. The Company will also continue its efforts to educate the public of the different financial solutions accessible through the capital market.

First Capital Treasuries, the primary dealer division accounts for the highest amongst standalone primary dealers raising debt for the government, taking up as much as 9% and 6% of the total issuance of treasury bonds and treasury bills respectively in 2020. The division looks forward to leverage on its expertise to further enhance opportunities from the government securities market. The wealth management division, First Capital Asset Management more than doubled its Assets Under Management (AUM) in 2020 disrupting the financial services industry with a range of alternative financial products and services for corporate and retail customers alike. While First Capital Limited, the corporate finance division played a crucial role redirecting financial resources to corporate clients to tide over the impact of the pandemic by structuring investments and providing robust capital market access to raise funding. The Stock Brokering division, First Capital Equities, is on a drive to expand its online client base, encouraging newcomers to the stock market to benefit from the booming market. Focused on enhancing performance, it adds value to clients through the dissemination of First Capital’s coveted in-house research which enjoys wide acceptance, covering the debt and equity markets.

About First Capital

First Capital is a member of the Janashakthi Group focused on delivering ‘Performance First’ through its operations as primary dealer, stockbroker, corporate advisory, debt structuring and wealth management. With over three decades of expertise in providing capital market solutions, First Capital Holdings PLC is the only listed full-service investment institution in Sri Lanka. First Capital Holdings PLC is rated [SL]A with Stable outlook by ICRA Lanka Ltd.

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For the First Time in Sri Lanka First Capital Implements Digital Onboarding

August 23, 2021 Nisansala Munasinghe

20 August 2021, Colombo – Breaking barriers in the non-bank financial services space, First Capital introduces ’digital onboarding’ to facilitate non-face-to-face Account Opening for Unit Trusts and Government Securities clients for the first time in Sri Lanka. Together with the Stock Brokering arm that facilitate digital onboarding through the CSE Mobile App, the Company offers a fully integrated digital account opening process, mitigating the long trail of paperwork and physical meetings.

First Capital, a Janashakthi Group Company uses state-of-the-art video verification, abiding by the guidelines issued by the Financial Intelligence Unit of the Central Bank of Sri Lanka, directly accessing the database of the Department of Registration of Persons to verify customer national identity card (NIC) information, allowing individuals with a valid Sri Lankan NIC to open an account.

Commenting on the new development Dilshan Wirasekara, Director/ Chief Executive Officer, First Capital Holdings PLC, said, “as an organization, we are at the forefront of digital transformation and are committed to developing our digital services to provide an enhanced customer experience. Adapting to the new operating environment, whilst increasing the ease of doing business and speed of performance are key strategies that we are focusing on. As such, the introduction of digital onboarding is a timely development that enable us to broad base our service offering, while keeping our staff, clients, and community safe.

Clients can access account opening forms for Unit Trusts and Government Securities investments at www.firstcapital.lk, while accounts for the Stock Brokering arm can be opened through the CSE Mobile application (by selecting First Capital Equities as the preferred Stockbroker). Once the digital documentation has been submitted to the Company, customers can choose a convenient time for a video call with a First Capital representative for the verification process.

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About First Capital

With over three decades of expertise in providing capital market solutions, First Capital Holdings PLC is the only listed full-service investment institution in Sri Lanka. First Capital Holdings PLC is rated [SL]A with Stable outlook by ICRA Lanka Ltd.

The First Capital Holdings PLC Board of Directors comprises of Nishan Fernando (Chairman), Dinesh Schaffter (Managing Director), Dilshan Wirasekara (Director / Chief Executive Officer), Prakash Schaffter, Ramesh Schaffter, Eardley Perera, Minette Perera, Chandana de Silva and Nishan de Mel.

Press, Investment Banking in Sri Lanka, First Capital, Investing in Sri Lanka, Unit Trust, Stock Market, Retirement Planning, Treasury Bonds and Bills, Sri Lanka, Sharemarket investment in Sri Lanka, Corporate, Stock Brokers

FIRST CAPITAL POSTS PAT OF LKR 136MN FOR THE FIRST QUARTER OF 2021/22

August 16, 2021 Nisansala Munasinghe

Colombo 16^th August 2021: First Capital Holdings PLC (the Group), a member of the Janashakthi Group recorded a Profit after Tax of LKR 136Mn for the first quarter of 2021 (1^st Quarter of 2021/22) compared to LKR 1.46Bn in the corresponding period of the previous year. The results are attributed to lower contribution of trading income of the Group’s Primary Dealer division, whereas the substantial easing of monetary policy measures was experienced during the corresponding period of the previous year.

The Group’s Primary Dealer arm reported a Profit after Tax of LKR 54Mn for the quarter ended 30^th June 2021 (1^st Quarter of 20/21– LKR 1.36Bn). The results include net interest income of LKR 129Mn and a trading loss on sale of government securities amounting to LKR 24Mn (1^st Quarter of 20/21– Net interest income of LKR 163Mn and a trading gain of LKR 1.62Bn).

The Corporate Finance division recorded a Profit after Tax of LKR 35Mn for the quarter ended 30^th June 2021 (1^st Quarter of 20/21 – LKR 188Mn). The results include fee income on structuring and placement of corporate debt securities of LKR 16Mn and trading gain on sale of corporate debt/equity securities of LKR 36Mn.

The Wealth Management division showed a growth in its fee-based income and reported a Profit after Tax of LKR 22Mn for the quarter ended 30^th June 2021 (1^st Quarter of 20/21– LKR 15Mn). The assets under management of the division stood at Rs. 45.6Bn as of 30^th June 2021 (1st Quarter of 20/21– Rs. 27.9Bn).

Furthermore, the Group’s Stock Brokering division showed a strong performance recording a Profit after Tax of LKR 24Mn for the quarter ended 30th June 2021 (1^st Quarter of 20/21– LKR 5Mn).

Rated [SL]A with a Stable outlook by ICRA Lanka Ltd, First Capital maintains its strong financial position with a total capital base of LKR 5Bn as of 30^th June 2021.

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About First Capital

First Capital is a member of the Janashakthi Group focused on delivering ‘Performance First’ through its operations as primary dealer, corporate finance advisory, wealth management and stock brokering.

The Board of Directors of First Capital Holdings PLC comprises of Nishan Fernando (Chairman), Dinesh Schaffter (Managing Director), Dilshan Wirasekara (Director / Chief Executive Officer), Prakash Schaffter, Ramesh Schaffter, Eardley Perera, Minette Perera, Chandana de Silva and Nishan de Mel.

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First Capital Partners with Habitat for Humanity Sri Lanka to Build Homes and Transform Communities

July 1, 2021 Nisansala Munasinghe

First Capital Holdings PLC launches a three-year CSR programme by partnering with Habitat for Humanity Sri Lanka to build homes for families in need. Through this partnership, First Capital will pledge LKR 15 million to implement the ‘First Capital Housing Project’ in the Galle District; providing deserving low-income families with safe and stable homes.

Caption – The First Capital Housing Project was launched through an MOU signing ceremony held virtually between First Capital Holdings PLC and Habitat for Humanity Sri Lanka.

First Capital, a member of the Janashakthi Group, provides capital market solutions, through its operations as a primary dealer, stockbroker, corporate advisory, debt structuring, and wealth management, delivering on its brand promise ‘Performance First’.

Habitat for Humanity Sri Lanka, an international housing and shelter non-profit is a member of the Habitat for Humanity International network and has been in operation in Sri Lanka for over 27 years. Having implemented numerous large-scale housing projects such as the Indian Housing Project and the Homes, not Houses Project funded by the European Union, Habitat Sri Lanka has assisted more than 27,000+ families across the country to build homes and improve their shelter conditions.

Moving beyond the typical CSR initiative, the First Capital Housing Project will focus on constructing homes that are not only durable and safe, but also environmentally sustainable. Promoting eco-friendly and climate-appropriate construction practices, Habitat for Humanity Sri Lanka will construct the homes of the First Capital Housing Project using Compressed Stabilized Engineered Blocks (CSEB).

Experts claim earth-based construction materials such as CSEB, surpass conventional construction methods as they are more energy-efficient due its low carbon footprint and use of locally sourced materials, providing an alternative to mining river sand. These earth-based blocks also have the ability to absorb atmospheric moisture allowing the walls to be much cooler and more thermally efficient when compared with conventional brick and mortar homes. Habitat for Humanity Sri Lanka has currently constructed nearly 1,000 homes using earth-based construction materials for resettled families in the North and East of Sri Lanka, funded by the European Union.

Commenting on the significance of this new partnership with Habitat for Humanity Sri Lanka, First Capital Holdings PLC Director / CEO Dilshan Wirasekara said, “As a group, we have taken the route of community building as an extension to our long-standing legacy and reputation of contributing to nation-building initiatives. We are delighted to partner with Habitat for Humanity Sri Lanka, as we believe this partnership holds strong synergies with our corporate values and brand promise. The three-year collaboration enables us to witness far-reaching impacts of this initiative considering the long-term benefits of supporting low-income families with safe housing.”

Echoing Wirasekara’s sentiments, Habitat for Humanity Sri Lanka National Director, Yu Hwa Li said, “We are grateful to First Capital Holdings for its commitment to building homes and transforming communities through the First Capital Housing Project. Habitat Sri Lanka has constructed affordable homes for more than 110,000 individuals across the country. These efforts have been possible through the generous donations we have received from institutional and corporate donors like First Capital. We look forward to enriching the lives of the low-income families who will benefit from this project by providing them with decent, stable, and safe places to call home.”

Caption –

The First Capital Housing Project was launched through an MOU signing ceremony held virtually between First Capital Holdings PLC and Habitat for Humanity Sri Lanka.

Pictured Left to Right:

Dilshan Wirasekara – Director/CEO, First Capital Holdings PLC; Yu Hwa Li – National Director, Habitat for Humanity Sri Lanka; Melissa Jayasuriya – Senior Manager, Corporate Relations and Resource Development, Habitat for Humanity Sri Lanka, and Nisansala Munasinghe – Senior Manager, Branding and Marketing Services, First Capital Holdings PLC.

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Potential of Corporate Debt Capital – Sri Lanka Investment Forum 2021

June 10, 2021 Nisansala Munasinghe

Sri Lanka Investment Forum Livestream, in which our Director, CEO, Dilshan Wirasekara moderated a discussion on the Potential of Corporate Debt Capital with Senaka Kakiriwaragodage – Director, Chief Executive Officer for NDB Capital Holdings Limited and Vishnu Balachandran – Executive Vice President for CAL.

View the session: https://m.youtube.com/watch?v=xmQCT4nyVjQ

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The First Capital Team – Town Hall Meeting

December 16, 2020 Nisansala Munasinghe

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

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

November 6, 2020 Nisansala Munasinghe

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.

In photos –

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