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The Investor Sentiment - Equity and investments forum for Sri Lankans

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Latest topics

» CIFC Dumps to Expand Your Possibilities to Pass Your Exam
Budget 2016 - Page 3 EmptyFri Jul 19, 2024 10:30 am by faithhharris

» CCS.N0000 ( Ceylon Cold Stores)
Budget 2016 - Page 3 EmptyWed Mar 20, 2024 11:31 am by Hawk Eye

» Sri Lanka plans to allow tourists from August, no mandatory quarantine
Budget 2016 - Page 3 EmptyWed Sep 13, 2023 12:16 pm by lauryfriese

» When Will It Be Safe To Invest In The Stock Market Again?
Budget 2016 - Page 3 EmptyWed Apr 19, 2023 6:41 am by කිත්සිරි ද සිල්වා

» Dividend Announcements
Budget 2016 - Page 3 EmptyWed Apr 12, 2023 5:41 pm by කිත්සිරි ද සිල්වා

» MAINTENANCE NOTICE / නඩත්තු දැනුම්දීම
Budget 2016 - Page 3 EmptyThu Apr 06, 2023 3:18 pm by කිත්සිරි ද සිල්වා

» ඩොලර් මිලියනයක මුදල් සම්මානයක් සහ “ෆීල්ඩ්ස් පදක්කම” පිළිගැනීම ප්‍රතික්ෂේප කළ ගණිතඥයා
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» SEYB.N0000 (Seylan Bank PLC)
Budget 2016 - Page 3 EmptyThu Mar 30, 2023 9:25 am by yellow knife

» Here's what blind prophet Baba Vanga predicted for 2016 and beyond: It's not good
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» The Korean Way !
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» In the Meantime Within Our Shores!
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» SRI LANKA TELECOM PLC (SLTL.N0000)
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» THE LANKA HOSPITALS CORPORATION PLC (LHCL.N0000)
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» COMB.N0000 (Commercial Bank of Ceylon PLC)
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» REXP.N0000 (Richard Pieris Exports PLC)
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» RICH.N0000 (Richard Pieris and Company PLC)
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» TJL.N0000 (Tee Jey Lanka PLC.)
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» PLC.N0000 (People's Leasing and Finance PLC)
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» SAMP.N0000 (Sampath Bank PLC)
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» APLA.N0000 (ACL Plastics PLC)
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» AVOID FALLING INTO ALLURING WEEKEND FAMILY PACKAGES.
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» Banks, Finance & Insurance Sector Chart
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» VPEL.N0000 (Vallibel Power Erathna PLC)
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» DEADLY COCKTAIL OF ISLAND MENTALITY AND PARANOID PERSONALITY DISORDER MIX.
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» WATA - Watawala
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» KFP.N0000(Keels Food Products PLC)
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» Capital Trust Broker in difficulty?
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» IS PIRATING INTELLECTUAL PROPERTY A BOON OR BANE?
Budget 2016 - Page 3 EmptyThu Oct 20, 2022 10:13 am by කිත්සිරි ද සිල්වා

» What Industry Would You Choose to Focus?
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» Should I Stick Around, or Should I Follow Others' Lead?
Budget 2016 - Page 3 EmptyTue Oct 11, 2022 9:07 am by කිත්සිරි ද සිල්වා

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+15
malanp
Future123
jiggysaurus
malan 100
First Guy
HAL9000
yaka
Monster
Axe
කිත්සිරි ද සිල්වා
The Alchemist
HUNTER
sashimaal
Backstage
puliyanam
19 posters

    Budget 2016

    avatar
    malanp


    Posts : 518
    Join date : 2014-03-04

    Budget 2016 - Page 3 Empty Re: Budget 2016

    Post by malanp Sat Nov 21, 2015 10:34 am

    Most probably this negative list of BOI should be something that restrict foreign companies to start business.
    BOI did not encourage/welcome or permitted Tile sector companies in sri lanka. Now that restriction removed..
    avatar
    yaka


    Posts : 374
    Join date : 2014-02-28

    Budget 2016 - Page 3 Empty Re: Budget 2016

    Post by yaka Sat Nov 21, 2015 12:29 pm

    sashimaal wrote:Customs says all proposals of the 2016 Budget that include taxation to come into effect from midnight today.

    I'm just curious shashimal, is it possible???

    coz this is budget proposal and shouldn't it be passed from the house??
    avatar
    Future123
    Active Member
    Active Member


    Posts : 1435
    Join date : 2014-04-09

    Budget 2016 - Page 3 Empty Re: Budget 2016

    Post by Future123 Sat Nov 21, 2015 3:59 pm

    HAL9000 wrote:
    Future123 wrote:Just catching up with the budget as I was occupied with various things.

    This is totally a different budget from the interim budget. An investor friendly and people's friendly budget. What a change from RK? Devil is not so black as he is painted. All I wanted to see is our country progressing and people progressing.

    I was browsing the budget speech key notes and highlighted some important points. Some +++++
    1) No land tax for foreigners - Must be favourable to JKH as their new project waterfront would benefit from this. OSEA also would benefit
    2) Revised corporate taxes of 15% (Except banks, Finance companies, insurance, betting, gaming, liquor and tobacco. These are taxed at 30%). We can expect better dividends from the companies in future.
    3) Tons of positive measures for export companies
    4) Finance companies will have massive benefits after 1 June 2016. The banks will not be allowed to carry out leasing and a limitation for pawning (5% of total lending).
    5) A lot for the agriculture sector
    6) Share transaction levy abolished

    Some negatives
    1) Reduction of exemption limit for VAT to 12 million a year. Many small businesses will get caught
    2) Banks are affected in many ways. No lease after 1 June 2016, Compulsory loans to agri sector
    3) Vehicle owners are affected
    4) 2% increase in corporate tax for some businesses
    5) Tile sector removed from BOI negative list. Not sure how this would affect LWL and RCL. I have warned months ago about this.
    6) NBT increased to 4% from 2%

    Thank God there is no Turnover tax due to lots of protests. I hope this budget would bring some positive energy to the market. Banking sector will go down and might affect the index but other sectors should do well.

    The challenge is to put these development ideas into action.

    http://www.lankabusinessonline.com/live-budget-2016-coverage-proposals-and-full-speech/

    But you told us throughout 24 hours that ,more and more super gain taxes, revenge and punish investors stories bla bla.. few days back ne! You told us to stay away from blue chips ne. What if somebody has sold his portfolio by reading your posts. Now it's obious that massive reduction of corporate tax , abolishing VAT for retail business Definetely gonna do a big positive impact. At least now you should avoid telling nonsense reapetedly and talk with some sense for the sake of many forum uses  specially new comers. Twisted Evil Twisted Evil

    HAL my friend, Why are you angry on me? I'm not biased towards any political party. All I told was that I will buy new shares after the budget. Now we know exactly what to buy and what not to buy.

    I sold my short term holdings such as BFL, TAFL, GRAN with good profit due to market sentiment and EPF selling. I was recommending TJL and REXP some time back. Both have appreciated over 40%. Still you will see price appreciation in these counters as export companies benefit from rupee depreciation and positive government policies. When I told sometime back avoid blue chips that also happened. COMB declined from 170 to 150, HNB 228 to 217, JKH too went down to 168 and bounced back.

    Now we need to look at the market with fresh mind sets. The same RK who scolded all the blue chips now reduced the corporate tax. The government also knows that the economy is at a mess and they can't punish the private sector more.

    Now we focus on some good shares to make some money. There is absolutely no point in accusing anyone. Everyone has a right to express their view.

    Enjoy the market HAL. Share your ideas. What shares would outperform in the coming quarter?
    කිත්සිරි ද සිල්වා
    කිත්සිරි ද සිල්වා
    Top contributor
    Top contributor


    Posts : 9679
    Join date : 2014-02-23
    Age : 66
    Location : රජ්ගම

    Budget 2016 - Page 3 Empty Re: Budget 2016

    Post by කිත්සිරි ද සිල්වා Sat Nov 21, 2015 5:50 pm

    VEHICLE IMPORTERS’ UNION PREDICTS SIGNIFICANT INCREASE IN VEHICLE PRICES

    The Vehicle Importers’ Union has said that vehicle prices are due to increase significantly from the 2016 Budget.

    Its Chairman Indika Sampath Merenchige speaking to NewsRadio said that a price hike in all vehicles including hybrids can be anticipated.


    Listen to this guy
    avatar
    balapas
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    Budget 2016 - Page 3 Empty Re: Budget 2016

    Post by balapas Sun Nov 22, 2015 9:48 am

    Apart from that vehicle permits have been abolished. There was a big informal market for these. People used to sell their permits to UML, Stafford, Softlogic etc. According to Ravi 30bn annual loss to SL because of this.

    Therefore reduction in imports while increase in prices can be observed. Vehicle prices specially the hybrid ones went up couple of months ago but again reduced due to changes in custom valuations. A real roller coaster story for this market till the govt finalize what they want to do.
    කිත්සිරි ද සිල්වා
    කිත්සිරි ද සිල්වා
    Top contributor
    Top contributor


    Posts : 9679
    Join date : 2014-02-23
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    Budget 2016 - Page 3 Empty Re: Budget 2016

    Post by කිත්සිරි ද සිල්වා Sun Nov 22, 2015 10:01 am

    Car permits have been abused and abolishing it was a good move according to my thinking.
    Now the government must find a way to have our own auto industry here and save billions of foreign currency going out.
    What happened to the talk of VW plant?
    HAL9000
    HAL9000
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    Posts : 1402
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    Budget 2016 - Page 3 Empty Re: Budget 2016

    Post by HAL9000 Sun Nov 22, 2015 10:34 am

    balapas wrote:Apart from that vehicle permits have been abolished. There was a big informal market for these. People used to sell their permits to UML, Stafford, Softlogic etc. According to Ravi 30bn annual loss to SL because of this.

    Therefore reduction in imports while increase in prices can be observed. Vehicle prices specially the hybrid ones went up couple of months ago but again reduced due to changes in custom valuations. A real roller coaster story for this market till the govt finalize what they want to do.    

    Government wants to limit vehicle imports due to foreign currency balance and heavy traffic congestion at the same time they need the revenue from the custom duty so that still searching the correct balance between the two.

    Have to agree with the vehicle permit issue. It has been massively misused. 3rd parties have got massive undue profits while paying the public servant a scanty amount.
    At the same time government have to offer an alternative solution for professional otherwise they cannot be kept in the government sector with these scanty salaries. I know one of my friend is a government doctor and he got only less than 100,000 monthly and later he got a job in Singapore with 7-8 times higher salary per month with better working conditions, things are same for other government servant categories like engineers, accountants etc as well.
    avatar
    Market lover
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    Top contributor


    Posts : 595
    Join date : 2014-10-15

    Budget 2016 - Page 3 Empty Re: Budget 2016

    Post by Market lover Sun Nov 22, 2015 10:49 am

    Future123 wrote:
    HAL9000 wrote:
    Future123 wrote:Just catching up with the budget as I was occupied with various things.

    This is totally a different budget from the interim budget. An investor friendly and people's friendly budget. What a change from RK? Devil is not so black as he is painted. All I wanted to see is our country progressing and people progressing.

    I was browsing the budget speech key notes and highlighted some important points. Some +++++
    1) No land tax for foreigners - Must be favourable to JKH as their new project waterfront would benefit from this. OSEA also would benefit
    2) Revised corporate taxes of 15% (Except banks, Finance companies, insurance, betting, gaming, liquor and tobacco. These are taxed at 30%). We can expect better dividends from the companies in future.
    3) Tons of positive measures for export companies
    4) Finance companies will have massive benefits after 1 June 2016. The banks will not be allowed to carry out leasing and a limitation for pawning (5% of total lending).
    5) A lot for the agriculture sector
    6) Share transaction levy abolished

    Some negatives
    1) Reduction of exemption limit for VAT to 12 million a year. Many small businesses will get caught
    2) Banks are affected in many ways. No lease after 1 June 2016, Compulsory loans to agri sector
    3) Vehicle owners are affected
    4) 2% increase in corporate tax for some businesses
    5) Tile sector removed from BOI negative list. Not sure how this would affect LWL and RCL. I have warned months ago about this.
    6) NBT increased to 4% from 2%

    Thank God there is no Turnover tax due to lots of protests. I hope this budget would bring some positive energy to the market. Banking sector will go down and might affect the index but other sectors should do well.

    The challenge is to put these development ideas into action.

    http://www.lankabusinessonline.com/live-budget-2016-coverage-proposals-and-full-speech/

    But you told us throughout 24 hours that ,more and more super gain taxes, revenge and punish investors stories bla bla.. few days back ne! You told us to stay away from blue chips ne. What if somebody has sold his portfolio by reading your posts. Now it's obious that massive reduction of corporate tax , abolishing VAT for retail business Definetely gonna do a big positive impact. At least now you should avoid telling nonsense reapetedly and talk with some sense for the sake of many forum uses  specially new comers. Twisted Evil Twisted Evil

    HAL my friend, Why are you angry on me? I'm not biased towards any political party. All I told was that I will buy new shares after the budget. Now we know exactly what to buy and what not to buy.

    I sold my short term holdings such as BFL,  TAFL, GRAN with good profit due to market sentiment and EPF selling. I was recommending TJL and REXP some time back. Both have appreciated over 40%. Still you will see price appreciation in these counters as export companies benefit from rupee depreciation and positive government policies. When I told sometime back avoid blue chips that also happened. COMB declined from 170 to 150, HNB 228 to 217, JKH too went down to 168 and bounced back.

    Now we need to look at the market with fresh mind sets. The same RK who scolded all the blue chips now reduced the corporate tax. The government also knows that the economy is at a mess and they can't punish the private sector more.

    Now we focus on some good shares to make some money. There is absolutely no point in accusing anyone. Everyone has a right to express their view.

    Enjoy the market HAL. Share your ideas. What shares would outperform in the coming quarter?

    Sounds like a pansaley hamuduruwo now Smile as if u havent done anything Wink

    Dhannawanam oyawa ape Katina Perahera pansaley bana kiyanda ekkang yanawa Smile
    avatar
    Deegoda Gamage


    Posts : 203
    Join date : 2014-03-22

    Budget 2016 - Page 3 Empty Re: Budget 2016

    Post by Deegoda Gamage Sun Nov 22, 2015 11:21 am

    I  think the govt has done maximum possible

    Private sector should know how to utilize facilities given by the budget

    Budget allocation for rural infra structure Development is not sufficient


    Construction of small bridges and rural rods

    in remote  villages is very essential


    I am D.G Dayaratne of SL Equity forum'.

    That forum presently manage by ...........................
    HAL9000
    HAL9000
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    Budget 2016 - Page 3 Empty Re: Budget 2016

    Post by HAL9000 Sun Nov 22, 2015 11:52 am

    http://www.adaderana.lk/news/33152/govt-allocated-largest-fund-for-education-president

    Unlike some megalo manias of construction of 4 lane high ways and night markets for Hambanthota where people demands drinking water and facilitate farming, it's good to see the priority this gov has given to human resource development . Human is the only resource we have to offer in order to catch up the development lag as we all know we do not have natural resources like Oil, Gas, Gold etc.
    Previously we relied on exporting our people for middle east slavery and earn our bucks, and only industry develop after independance is appearal again our contribtion mainly on cheap laber. This could be a start of real long term investment on human capital development.
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    Budget 2016 - Page 3 Empty Re: Budget 2016

    Post by Future123 Sun Nov 22, 2015 1:07 pm

    Market lover wrote:
    Future123 wrote:
    HAL9000 wrote:
    Future123 wrote:Just catching up with the budget as I was occupied with various things.

    This is totally a different budget from the interim budget. An investor friendly and people's friendly budget. What a change from RK? Devil is not so black as he is painted. All I wanted to see is our country progressing and people progressing.

    I was browsing the budget speech key notes and highlighted some important points. Some +++++
    1) No land tax for foreigners - Must be favourable to JKH as their new project waterfront would benefit from this. OSEA also would benefit
    2) Revised corporate taxes of 15% (Except banks, Finance companies, insurance, betting, gaming, liquor and tobacco. These are taxed at 30%). We can expect better dividends from the companies in future.
    3) Tons of positive measures for export companies
    4) Finance companies will have massive benefits after 1 June 2016. The banks will not be allowed to carry out leasing and a limitation for pawning (5% of total lending).
    5) A lot for the agriculture sector
    6) Share transaction levy abolished

    Some negatives
    1) Reduction of exemption limit for VAT to 12 million a year. Many small businesses will get caught
    2) Banks are affected in many ways. No lease after 1 June 2016, Compulsory loans to agri sector
    3) Vehicle owners are affected
    4) 2% increase in corporate tax for some businesses
    5) Tile sector removed from BOI negative list. Not sure how this would affect LWL and RCL. I have warned months ago about this.
    6) NBT increased to 4% from 2%

    Thank God there is no Turnover tax due to lots of protests. I hope this budget would bring some positive energy to the market. Banking sector will go down and might affect the index but other sectors should do well.

    The challenge is to put these development ideas into action.

    http://www.lankabusinessonline.com/live-budget-2016-coverage-proposals-and-full-speech/

    But you told us throughout 24 hours that ,more and more super gain taxes, revenge and punish investors stories bla bla.. few days back ne! You told us to stay away from blue chips ne. What if somebody has sold his portfolio by reading your posts. Now it's obious that massive reduction of corporate tax , abolishing VAT for retail business Definetely gonna do a big positive impact. At least now you should avoid telling nonsense reapetedly and talk with some sense for the sake of many forum uses  specially new comers. Twisted Evil Twisted Evil

    HAL my friend, Why are you angry on me? I'm not biased towards any political party. All I told was that I will buy new shares after the budget. Now we know exactly what to buy and what not to buy.

    I sold my short term holdings such as BFL,  TAFL, GRAN with good profit due to market sentiment and EPF selling. I was recommending TJL and REXP some time back. Both have appreciated over 40%. Still you will see price appreciation in these counters as export companies benefit from rupee depreciation and positive government policies. When I told sometime back avoid blue chips that also happened. COMB declined from 170 to 150, HNB 228 to 217, JKH too went down to 168 and bounced back.

    Now we need to look at the market with fresh mind sets. The same RK who scolded all the blue chips now reduced the corporate tax. The government also knows that the economy is at a mess and they can't punish the private sector more.

    Now we focus on some good shares to make some money. There is absolutely no point in accusing anyone. Everyone has a right to express their view.

    Enjoy the market HAL. Share your ideas. What shares would outperform in the coming quarter?

    Sounds like a pansaley hamuduruwo now Smile as if u havent done anything Wink

    Dhannawanam oyawa ape Katina Perahera pansaley bana kiyanda ekkang yanawa Smile

    Marketlover, So what are your predictions about the market? What shares you think would outperform in the medium term? Why you never share your ideas about shares and investment with others? Share your knowledge for the benefit of everyone? I always share my idea and see 90% of my predictions had really happened.
    කිත්සිරි ද සිල්වා
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    Budget 2016 - Page 3 Empty Re: Budget 2016

    Post by කිත්සිරි ද සිල්වා Sun Nov 22, 2015 10:03 pm

    Budget 2016 - Page 3 Car10
    smallville
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    Budget 2016 - Page 3 Empty Re: Budget 2016

    Post by smallville Mon Nov 23, 2015 10:03 am

    Kith - can u put the source?

    Last I know was they revising tax tables.. So have to check on this increase.
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    Budget 2016 - Page 3 Empty Re: Budget 2016

    Post by puliyanam Mon Nov 23, 2015 10:24 am

    CT CLSA - Sri Lanka National Budget 2016 - 22 November 2015
    Sri Lanka - Third Wave of Reforms

    The National Budget Proposals 2016 can be termed as a reformist agenda. Being used to budget speeches that were extremely populist, or included implausible / regressive proposals, the proposals presented on 20 November 2015, though falling short of being ‘revolutionary’ as promised in the lead up, look to adequately address the short term risks in the economy, whilst setting Sri Lanka up for the long run

    The proposals look to instill confidence amongst the investment community. Overall, the proposals appear to have taken note of comments made by a range of stakeholders, whilst comprising a more medium to long term planning perspective

    Whilst state intervention is likely to remain, or return, in some industries, there seems to be better distinction being made between essential and non-essential involvement

    The GoSL forecasts the fiscal deficit for 2016E to decline to 5.9% of GDP (Rs.740bn), against a deficit of 6.0% (Rs.675bn) targeted for 2015E (surpassing previous target of 4.4%, or Rs.499bn)

    Total revenue and grants to rise at a staggering +39% YoY to Rs.2,047bn in 2016E. GoSL estimates total expenditure to increase +29% YoY to Rs.2,787bn in 2016E, with Public Investment to rise +68% YoY to Rs.868bn

    It should be noted that the proposals laid out in the budget are not officially finalized by the GoSL, with information also limited in some instances, until the release of gazettes, and thereby the details on some of the proposals could be altered in the weeks ahead

      Current date/time is Mon Oct 07, 2024 5:35 pm