Brian Rupasinghe

[Imtiaz Buhardeen @BuhardeenImtiaz]

What to expect this week,

USA/IRAN peace Deal

Monetary policy meeting on 26/5.

IMF Board meeting-USD 700M
To be taken up.

CSE March quarter earnings report-another 180+ companies to report by Friday latest.

CBSL has already taken some measures to increase the vehicle duty and to reduce the LTV value of Cars and Gold.

Rupee started to appreciate from Friday.

In anticipation of IRAN deal Asian markets are up.
Nikkei up 1900 points 3%
(last 4-5 sessions they are up more than 5000 points).

Chinese markets up over 1%

Hong Kong and S.Korea closed for Vesak holiday.

CSE will be closed on Thursday for Hajj Festival.

USA markets closed tonight for Memorial Day.

USA and major markets are at ATH’s.

Oil prices are coming down sharply-
WTI below USD 92
Brent around USD 95

Lots of Optimism for a deal with hope now,
Once it is a Reality markets will take off.

Happy Trading Week.

[Seyed Abbas Araghchi @araghchi]

In line with the ceasefire in Lebanon, the passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire, on the coordinated route as already announced by Ports and Maritime Organisation of the Islamic Rep. of Iran.

[Imtiaz Buhardeen @BuhardeenImtiaz]

Iran's foreign minister declares the Strait of Hormuz "completely open for the remaining period of ceasefire."

US is negotiating a $20 billion cash for uranium deal with Iran to end the war, Per Axios.

Talks might take place on Sunday in Islamabad.

Oil down 10-12%

Dow futures up 600

We might have a record day on Monday here in Asia.

[almasONE @AlmasEquities]

Stake Increase Milestone

Almas Holdings increased its stake in Agstar PLC from 41.29 Mn shares (8.95%) to 46.22 Mn shares (10.02%) after acquiring 4.92 Mn shares on 17 April 2026 at between LKR 11.00 to LKR 12.00 per share.

Official Announcement: https://t.co/djWhXzGmMV

Almas Equities Research

[Dr.Amila Fernando🪬 @DrBukkabwoi]

Could have left Sri Lanka years ago. Most of my batchmates did. Better pay, better lifestyle, easier life. But something about this place keeps you here..

Its not logical. I know that. The queues in 2022 and now in 2026 again, the power cuts, the rupee crashing while your friends are posting UK snow pics. You question it every few months.

This country will test you. Every single day. But if you survive it here, you can survive anything. And when things eventually turn around, and they will, the ones who stayed will be the ones who built it. Most people leave to find a better life. Some of us stay to build one.

[Market News🇱🇰 @MarketNewsLK]

SriLankan Airlines Secures 99% Bondholder Approval in Landmark Debt Restructuring Victory 🎉

✈️ SriLankan Airlines and the Government of #SriLanka successfully completed the restructuring of the airline's $175 million guaranteed bonds through a consent solicitation, exchange, and tender offer

✈️ The deal secured over 99% participation from bondholders, with more than 97% voting in favor, resulting in all existing bonds being tendered and exchanged

✈️ Bondholders accepted a 16% haircut (reduction) on the outstanding claim, with the remaining balance exchanged for a combination of cash and new US dollar-denominated 4.00% amortising bonds due in 2028 issued by the Government

✈️ SriLankan Airlines Chairman Sarath Ganegoda highlighted the strong bondholder confidence, describing it as a crucial step toward the airline's financial recovery and enabling focus on future growth and stability.

✈️ Treasury Secretary Dr. Harshana Suriyapperuma emphasized that the restructuring, now covering 99% of Sri Lanka's public external debt, normalizes relations with external partners, bolsters the country's credit outlook, and supports broader economic recovery efforts, with settlement expected on March 20, 2026
-NewsWire

[almasONE @AlmasEquities]

Almas Equities Research | Earnings Update | 11 Mar 2026

SWISSTEK CEYLON PLC [PARQ.N] | RECOMMEND BUY

"Rebounding construction demand fuels sustainable revenue expansion"

💸PARQ recorded solid earnings improvement, with net profit rising 16.9% QoQ and 30.7% YoY to LKR 0.3Bn in FY26 Q3. We expect PARQ to deliver an 11.6% revenue CAGR over FY25–28E.

📈Profitability is set to improve sharply, with EBIT margins expanding from 12.3% in FY25 to 15.1% by FY28E, supporting a 21.2% EPS CAGR.

💰Our DCF-based valuation derives a TP of LKR 110.3 per share (33.1% upside). Recommend BUY.

Full Report: https://t.co/h53DJg6eIe

Almas Equities Research

[almasONE @AlmasEquities]

CSE Movement Amid External Shocks

The ASPI’s post shock path shows a consistent mean reversion pattern, with drawdowns being absorbed quickly and followed by a rebound to prior levels or higher. For investors, this implies shocks have tended to be valuation resets rather than lasting trend breaks, with subsequent returns skewed positive once uncertainty fades.

Read More: https://t.co/1XyyGqNJDK

Almas Equities Research

[almasONE @AlmasEquities]

3 records. 1 day🚀
CSE has a historic day!

✅ ASPI hits ATH 17,740.46
✅ Intra-day peak at 17,767.20
✅ Market cap crosses LKR 6.34 Trillion

Sri Lanka’s Capital market momentum continues! 🇱🇰
#CSE #SriLankaMarkets #AlmasEquities

[Brian Rupasinghe @kenoshbrian]

𝑪𝑺𝑬 𝑵𝑬𝑻 𝑭𝑶𝑹𝑬𝑰𝑮𝑵 𝑰𝑵𝑭𝑳𝑶𝑾
(MAY 20 - MAY 22)

• MAY 20 - 169.9mn
• MAY 21 - 510.3mn
• MAY 22 - 313.3mn

• Total Inflow - 993.5mn

Mainly driven by COMB.N,DIAL.N and JKH.N

[Imtiaz Buhardeen @BuhardeenImtiaz]

Since ATH of 17,156 on 17th February 2025,
Market has come down almost 1300 points to 15,870
About 7.5% pullback.

Overall market fundamentals have improved with December quarter earnings coming in total of 260B profits which is 29% higher than last year,

Total earnings for 2024 CY is an all time record of 730 Billion.

So with current market PER of 8.8 it should get adjusted to around 8.0 after earnings update.

Market RSI has dropped below 40 levels.

Total Dividends declared and to be paid in Mar/April is a staggering 70 Billion +

Overall Bull Run is intact,
After profit taking,repositioning and new funds taking positions,
Market can continue to find its value with fundamentals in place.

[Market News🇱🇰 @MarketNewsLK]

#SriLanka has welcomed 240,217 tourists in February 2025, up 10% compared to Feb-2024
-SLTDA
🇱🇰🏃‍♀️🏃🏻‍♂️🌍

[Market News🇱🇰 @MarketNewsLK]

#SriLanka has earned $935 million in January 2025 from remittances & tourism

👩🏻‍🔧 Remittances rose 17.5% year-on-year to $573 million in Jan-2025

✈️ Earnings from tourism surged 34.5% year-on-year to $362 million in Jan-2025
-CBSL data

[Market News🇱🇰 @MarketNewsLK]

Fitch Upgrades 10 #SriLanka Banks' National Ratings & Affirms 5 after Scale Recalibration

BOC to AA- from A
PB to AA- from A
COMB to AA- from A
HNB to AA- from A
SAMP to AA- from A
SEYB to A+ from A-
DFCC to A from A-
NDB to A from A-
NTB to A from A-
PABC to BBB from BBB-
🏦📈

[Market News🇱🇰 @MarketNewsLK]

#SriLanka earns close to $1 billion from remittances and tourism in December

👩🏻‍🔧 Worker remittances for Dec 2024 registered $614 million, up 16% over Nov 2024, and up 8% over Dec 2023

✈️ Earnings from tourism for Dec 2024 was $362 million

💵 Total earnings - $976 million

[Oguz Erkan @oguzerkan]

Peter Lynch achieved 29.5% annual return for 13 years.

I spent 100+ hours studying his strategy.

I will explain his strategy 10 simple steps: 🧵

[almasONE @AlmasEquities]

🔴 Tourist Arrivals Update

Sri Lanka's tourism is going strong in 2025, with 70,944 arrivals recorded in the first 9 days of January, marking a 22.6% increase compared to the same period in 2024.

Daily averages during the first 9 days of January:
✈️ 2025: 7,882
✈️ 2024: 6,427

Stay tuned for more updates!

#SriLanka #tourism

[Brian Rupasinghe @kenoshbrian]

𝐓𝐮𝐫𝐧𝐨𝐯𝐞𝐫 𝐂𝐨𝐧𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧 𝟐𝟎𝟐𝟒
• Local - 90.09%
• Foreign - 9.91%
𝐓𝐮𝐫𝐧𝐨𝐯𝐞𝐫 𝐂𝐨𝐧𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧 𝟐𝟎𝟏𝟖
• Local - 56%
• Foreign - 44%

Will CSE achieve 2018 foreign contribution levels with increased local participation by end of 2025?

[Imtiaz Buhardeen @BuhardeenImtiaz]

What’s the difference between January 2022 ATH of ASPI and current ATH.

2022. 2024

PER. 15. 8.4 (should be around 7.5 after September earnings updated)

PBV. 1.8. 1.03

M Cap. 6.0T. 4.9T

Last time rally was mainly from Expo,LOLC,LOFC,CLC,BIL etc.

This time it is more broad based with Banks leading the way,

Mid caps are beginning to attract attention.

Last time most shares were up on days limit 25%,

This time we didn’t see that kind of upwards movement on a single day.

Last time earnings not that great
2019-217B
2020-234B
2021-472B

Current earnings

2022-668B
2023-455B
2024-454B for 9 months (we might surpass highest earnings)

Last time while Rally was on International Rating agencies was downgrading SL and in April 2022 we declared bankruptcy and went through the worst economic crisis.

Now we are emerging from crisis and all economic matrix are improving and getting to pre crisis levels.

This Rally is without proper Foreign Funds due to Default Risk ratings,(upgrade expected soon)

IMF program is in place with lots of structural reforms are taking place that will bear fruits with full commitment.

Debt restructuring in final stages.

Listed companies earnings have improved even with higher Taxes,salaries,Electricity bills,migration of skilled people and higher costs due to higher inflation earlier.

Tourism,Workers remittances,Reserves at 6.5B,
Inflation below 2,Interest rates coming close to pre crisis levels,

GDP up in last 4-5 quarters compared to 6 quarters of contraction.

Political stability with 2/3rd and sentiments improved with no major changes to IMF program and keeping important staff positions intact has built Investors confidence and hoping for eradicating corruption,waste and improving growth with digitization as a priority.
IMF targets are all met on time or with some small delays and some areas over performed.

Now there is good hope with all boxes getting ticked off for a brighter future ahead.

These are some major observations from myself.

[Brian Rupasinghe @kenoshbrian]

Since all the main candidates are announced

Who will you be voting for in the upcoming 2024 presidential elections?