SEC, CSE launch ‘Empower’ for SME’s

lbo stocks

Jun 25, 2018 (LBO) – The Securities and Exchange Commission of Sri Lanka (SEC) together with the Colombo Stock Exchange (CSE) will launch “Empower” – the SME Board to attract Small and Medium Enterprises (SMEs) to the CSE, creating a platform to attract SMEs to the CSE.

The official launch is scheduled to be held on 05th July, at the BMICH.

Chairman SEC, Ranel Wijesinha said this is bound to empower entrepreneurship, making the capital market work for the SMEs.

“Sri Lanka, has achieved considerable progress in many areas, within a South Asian context, but it is yet an emerging economy in the larger Asia Pacific region, within which it can be a truly formidable player. We have yet to realise our full potential and we have been saying this for too long,”

“But growth must be balanced, growth must be honest and wholesome and most importantly, sustainable. If we are to achieve economic growth with equity, across the length and breadth of the country, with balance in economic development and employment, between the city and the rural village and between agriculture, industry and services, and among and between representatives of religions and communities, there is a compelling national imperative the country has to address.”

Chairman of the CSE, Ray Abeywardena said, “The SME Board will offer a new avenue to drive Sri Lankan SMEs through their next phase of evolution, by offering a unique proposition and an opportunity to access a deep pool of international and domestic capital,”

“Apart from access to capital, the new listing platform will offer SMEs opportunities to build credibility through disclosure of information and balanced governance standards, which would enhance their visibility and attract strategic investors.”

“The new listing platform has the potential to make an all-round impact, bringing a positive change and shaping the stature and longevity of an SME for years to come”.