John Keells Stock Brokers

​•JKSB is one of 15 founding members of the Colombo Stock Exchange with roots in share trading dating back to 1896, and is a subsidiary of John Keells Holdings PLC (JKH), the largest listed entity on the Colombo Stock Exchange with a market capitalization of US$ 1.3bn.

•JKSB’s core client base is Foreign Institutional Investors, Local Institutions and HNWI’s

•JKSB has a co-branded Research tie up with CIMB and a Research Referral agreement with Credit Suisse, along with trade execution relationships with several other global and regional securities firms.

•JKSB’s trade execution partners include Credit Suisse, CIMB, Merrill Lynch, Exotix, Daiwa, Convergex, Deutsche Asia Securities and Morgan Stanley

•JKSB is a research contributor to Bloomberg on ‘KEEL’ , Thomson First Call, Reuters Knowledge and FactSet

•The JKSB Research Universe covers 72 stocks across 15 sectors, with most Research efforts focused on approximately 45 of the more liquid counters.

•The JKSB Universe constitutes 67% of total market cap and approximately 80% of turnover at the CSE.

Research Department .
  • Research Department .

JKSB Sri Lanka Market Strategy_February 2020

The dominant services sector which accounts for a share of about 60% of total GDP recorded growth of 4.1% for Q1, 1.6% for Q2 and then a slight rebound in Q3 to 2.8%. Telecommunications and IT segments have maintained strong double digit growth momentum over the six months. Accommodation, food and beverages services, transportation of goods and passengers as well health and education all saw declines in Q2. Growing demand for IT services together with the digitalization initiatives introduced in...

Dishan Leo
  • Dishan Leo

JKSB: Quarterly Highlights: Teejay Lanka PLC (TJL): 1QFY20

TJL concluded a strong 1QFY20 recording a sharp growth in earnings by 62.40%. Topline grew by 19.15% during the quarter mainly due to 1) better capacity utilization 2) stronger order book and 3) acquisition of strategic customers which supported healthy quarterly earnings growth. Revenue growth was predominantly through volume growth of 6%, sales mix contribution of 1% alongside the depreciation of the rupee which further contributed 13% to overall revenues. GP margins saw an expansion from 10.4...

Gowtham Gunasekaran
  • Gowtham Gunasekaran

JKSB: Quarterly Highlights: People's Insurance PLC (PINS): 2QCY19

PINS reported a 41% YoY increase in earnings for 2QCY19, mainly due to significantly improved underwriting results (+1205% YoY) and increased total other revenue (+27% YoY) despite sharply higher income tax expenses (+190% YoY). A 10% YoY growth in GWP amid a marginal increase in net claims (+2% YoY) drove underwriting results. The growth in total other revenue was largely attributable to the growth in interest & dividend income (+18% YoY). Growth in GWP (+13% YoY) during 1HCY19 supported mainly...

Gowtham Gunasekaran
  • Gowtham Gunasekaran

JKSB: Quarterly Highlights: Overseas Realty (Ceylon) PLC (OSEA): 2QCY1...

Modest growth in rental income (+9% YoY) along with strong support from sale of apartments (+79% YoY) has resulted in a 43% YoY growth in total revenue during the first half of the year. Sharply higher cost of sales of apartments (+99% YoY) during 1HCY19 was from higher construction costs through taxes & levies on imports and building materials as well as the steep depreciation of the SL rupee. Construction costs in Sri Lanka are 30-50% higher than in regional countries. Significant tax expenses...

Chiranthaka Suraweera
  • Chiranthaka Suraweera

JKSB: Quarterly Highlights: Aitken Spence Hotel Holdings PLC (AHUN): 1...

AHUN posted a marginal decline in revenues (-0.9% YoY) during 1QFY20 due to lower contributions from the Sri Lankan hotels & resorts sector stemming from the Easter Sunday attacks. Revenues from the Sri Lankan sector declined 27% (YoY) to Rs.747mn during the quarter while the South Asian and Middle East sector revenues grew by 9% (YoY) to Rs.2.8bn. Amortization expenses grew significantly (+437% YoY) to Rs.157mn during the quarter while other operating expenses declined by 8% (YoY) to Rs.2.1bn. ...

Research Department .
  • Research Department .

JKSB Sri Lanka Market Strategy_February 2020

The dominant services sector which accounts for a share of about 60% of total GDP recorded growth of 4.1% for Q1, 1.6% for Q2 and then a slight rebound in Q3 to 2.8%. Telecommunications and IT segments have maintained strong double digit growth momentum over the six months. Accommodation, food and beverages services, transportation of goods and passengers as well health and education all saw declines in Q2. Growing demand for IT services together with the digitalization initiatives introduced in...

Navin Ratnayake
  • Navin Ratnayake

JKSB on SL Budget Outlook 2017

The 2017 budget was presented yesterday by the coalition government in the background of an year which saw a tighter monetary and fiscal Sri Lankan environment. Under the theme “Accelerating Growth with Social Inclusion” the budget announced policies promoting Agriculture, SMEs, Exports, IT and Education.

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