March 7, 2019 (LBO) – Controversial stock market investor Nimal Perera has taken to twitter to make critical remarks about the poor performance of the Colombo Stock Exchange (CSE).
His remarks centred on the dismal trading volume and lack of IPOs in the market.
In October Nimal Perera disclosed his stock positions to the Daily FT which amounted to close to Rs2bn. LBO covered the story with a breakdown of his diversified portfolio:
Many market watchers have pointed out that the CSE has been poorly managed. Although several opposition politicians are quick to blame the failure of the CSE on the government, some analysts say that officials at the CSE and the Securities Exchange Commission (SEC) should come under scrutiny.
Management failure of Sri Lanka’s stock market needs to be addressed before the body itself becomes irrelevant. Although the motives and the credibility of the messenger could be questionable, Nimal Perera has a valid point. The CSE and the SEC need to be fixed.
Turnover @CSE at 12.15 pm is only RS 29 Million and advertising for companies to raise capital using CSE. Hard to sell any share without bringing the price down. How many IPOs done for last 4 years@CSE_Media pic.twitter.com/u60zOXqvDE
— Nimal perera (@nimalhperera) March 6, 2019