CLSA invests in SL capital markets group CT Smith Holdings

By Sanath Nanayakkare

CLSA Singapore Holdings (Pvt.) Ltd and Sri Lankan capital markets group CT Smith Holdings Ltd announced a 25% equity investment in CT Smith Holdings Ltd by CLSA, during a media briefing at Kingsbury Hotel on Monday.

CT Smith Holdings PLC is a conglomerate listed on the Colombo Stock Exchange while CLSA is a brokerage and investment group headquartered in Hong Kong.

The investment marks a 20-year partnership between the two groups and enables the beginning of a new chapter in the development of CT Smith Holdings as a client centric brokerage, investment banking and asset management group with a firm footing in Sri Lanka’s capital market.

Jonathan Slone, chairman and CEO, CLSA said, "We are confident this investment will provide our clients enhanced access to a dynamic, growing frontier market while expanding CLSA’s Asia market research and distribution footprint."

" We have a research presence, sales presence and capital markets presence in the frontier markets of Asia, while we operate in the USA", Slone said.

Cecilia Muttukumaru, chairperson, CT Smith Stockbrokers, CT Capital and Comtrust Asset Management said, " Both groups are renowned for the quality and independence of their products and the partnership will assist CT Smith Holdings to expand its relationship with foreign institutional investors and deliver an enhanced service offering to its domestic clientele."

As a result of the bilateral agreement, CLSA will distribute research products published by CT Smith Stockbrokers, which provide a comprehensive perspective into the Sri Lankan market.

The research products of CT Smith Stockbrokers will be re-branded under "CT CLSA" once approvals are granted. In addition, CT Smith Stockbrokers will participate in CLSA’s investor forums which have set the benchmark for equity investor conferences globally.

CT Holdings’ business interests span retail, food manufacturing, real estate and property development, entertainment and commercial banking, in addition to its presence in capital markets.

CLSA provides equity broking and execution services, corporate finance and asset management services to global corporate and institutional clients.

With product innovation and award-winning market intelligence, CLSA has been a reputed provider of research, sales and trading since 1986. CLSA has built its reputation on its unrivalled equity research and economic analysis, which is consistently ranked the best in Asia. It also has exchange memberships in every developed market in Asia and the USA.

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