Orix Finance Services Hong Kong Ltd

Former and New Chairmen of the Colombo Bourse are in a move to reduce ...

Thousands of Sri Lankan retail and foreign investors, who invest in Colombo Stock Exchange (CSE), are awaiting for Sri Lanka’s regulator to consider on revising certain regulatory measures that resulted in stock market crash.

But it is learned from industry sources that Former CSE Chairman Nihal Fonseka of DFCC bank and recently appointed CSE Chairman Krishan Balendra of John Keells Capital and Vajira Kulatilake, CEO of the NDB Bank's Capital Markets Cluster are in a move to reduce retailers participation in Colombo Stock Exchange by appealing to regulator not to revise rules on facilitating broker provided credit for retailers.

“They want to reduce the retail participation which is the major market force in the island nation’s only capital market by asking the regulator to not to revise rules,” said a top investment banking industry’s Chief Executive and a member of Colombo Stock Brokers association.

“Nihal Fonseka, Krishan Balendra and Vajira Kulatilake are in a move to approach the regulator before the commission meeting that would conclude the revision of rules related to broker provided credit,” he saidd.

Subsequently, 24 stock brokers among 28 functioning stock brokers in the country except John Keells group led John Keells Stock brokers (JKSB), Cargills group led CT Smith Stock Brokers and three non members of Colombo Stockbrokers Association including Murtaza Jafferjee led J.B. Securities, Claridge Stockbrokers and Somerville Stockbrokers had not agreed to facilitate broker provided credit to Sri Lankan retailers, who has been representing 44% of active contribution to the daily market turnover in the country, at a recently concluded meeting of the brokers.

“There is a last minute attempt by Fonseka, Krishan and Vajira to stop regulator revising the rule on broker provided credit. These few individuals believes in a Sri Lankan capital market where rich get richer and general public continue deposit their savings in banks where banks can make money through public funds,” another Chief Executive from a brokering house said.

Orix to invest $1 billion in China for water ... - Finance GreenWatch

Through private-equity deals, Orix aims to buy stakes in Chinese companies that provide such infrastructure as sewage treatment and solar-power plants, President Makoto Inoue said on Wednesday. The Tokyo-based company plans to buy aircraft and ships to expand leasing services, he said.

Orix is looking to China as growth in Asia’s biggest economy places a strain on the environment and energy resources. Developing nations will need financing of $776 billion a year through 2020 to meet demand for power, water and sanitation, according to the Asian Development Bank Institute.

Inoue, whose company reaped about 40 percent of pretax income from abroad in the year that ended in March, said he will “cautiously” select investment vehicles, given the recent market volatility triggered by Europe’s sovereign debt woes.

Inoue said Orix is looking to invest in water-treatment firms in China’s inland areas. The Japanese company unveiled plans in May to buy a 14.5 percent stake in Hong Kong-based China Water Affairs Group Ltd.

For private-equity business, “our basic strategy is to exit within five years after our initial investment by offering shares or selling stakes,” Inoue, 58, said. “We’d prefer to cash in on short-term projects with a decent rate of return.”

“The overseas investment is favorable and in harmony with the company’s overall strategy,” said Wataru Ohtsuka, an analyst at Nomura Securities Co. in Tokyo.

M&As are accelerating in the global water market.

A group led by Hong Kong billionaire Li Ka-shing’s Cheung Kong Infrastructure Holdings Ltd. this month made a £2.4 billion ($3.9 billion) takeover proposal for Northumbrian Water Group PLC in its second foray into the U.K. in a year. Japanese trading houses including Mitsubishi Corp. and Marubeni Corp. last year clinched buyout deals in Chile and Australia.

In the U.S., Orix will keep its focus on financial institutions as the investment target, Inoue said. Last year, Orix USA Corp. won a deal to buy a majority stake in the holding company of Mariner Investment Group, a New York-based manager of hedge funds valued at $11.7 billion.

Finance

Finance, The Basics

Barron's Finance & Investment Handbook

Personal Finance For Dummies®

Child Protective Services, A Guide for Caseworkers