ACAP Stock Brokers (Pvt) Ltd has shifted its operational focus to a specialized advisory approach centered on research-based foreign direct investment (FDI) following a five-month restructuring process under the ownership of Stallion Consultancy. The company is now establishing itself as a conduit for international investors looking to enter the Sri Lankan capital market, with particular emphasis on attracting investors from Japan, Australia, Switzerland, and Austria.
Manil Fernando, the Director of ACAP Stock Brokers, emphasized the firm’s commitment to creating substantial opportunities for both domestic and global investors in the Colombo Stock Exchange (CSE), which has been recognized as one of the top-performing frontier markets in Asia, achieving returns surpassing 40% in 2025.
The firm has applied for regulatory clearance to appoint a Swiss national to its board and is considering the addition of directors from Japan and Malaysia to enhance investor trust. However, the company has acknowledged the complexities involved in enabling foreign nationals to establish Special Investor Foreign Currency Accounts (SIA), describing the process as challenging. Management is actively working to simplify these procedures to mitigate frustrations that could drive foreign capital toward quicker markets such as Singapore.
Previously affiliated with Asia Capital, ACAP is now primarily owned by Stallion, with Stefan Abeyesinhe serving as Chairman and a Malaysian investor holding a minority share. In the wake of the acquisition, management has chosen to pursue a strategy focused on gradual and organic growth rather than rapid expansion, concentrating on resolving past issues and ensuring compliance with regulatory standards.
Stefan Abeyesinhe, Chairman of ACAP Stock Brokers, acknowledged the company’s smaller scale and expressed a commitment to delivering personalized services. He remarked on his longstanding support for Sri Lankan capital markets, emphasizing their potential to outperform expectations despite their size.
With the Colombo Stock Exchange valued at approximately 1.5 trillion rupees, Abeyesinhe pointed out that it offers considerable growth opportunities, supported by a Price-to-Earnings (PE) ratio between 10.5 and 11. A crucial element of ACAP’s restructuring plan involves re-engaging its largely inactive client base. Out of 3,000 registered clients, only 1,200 are currently active.
Fernando noted the firm’s initial strategy will be to reactivate the remaining 1,500 clients from their portfolio. Despite existing concerns regarding currency fluctuations and recent security issues in the financial sector, ACAP is focusing its appeal to foreign investors on the favorable market valuations and resilience of the local market. Abeyesinhe observed that volatility in the US markets has created both challenges and opportunities for investors, which is part of what makes markets appealing.
In an effort to stand out from larger firms, ACAP is prioritizing customized research and analytical services. Fernando stated that the goal is to provide investors—both local and international—with specific and actionable insights rather than generic reports.
