Focus on Government controlled entities

ErangaDS · **101** Re: Focus on Government controlled entities Sun Nov 19, 2023 5:34 pm

ErangaDS

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9 parties keen to buy Hilton Colombo

Nine parties have responded to the Expression of Interests (EOIs) to buy Hotel Developers Lanka Ltd., the owning company of popular five star Hilton Colombo, the State-Owned Enterprises Restructuring Unit (SRU) said yesterday.
https://www.ft.lk/front-page/9-parties-keen-to-buy-Hilton-Colombo/44-755352

ErangaDS · **102** Re: Focus on Government controlled entities Wed Nov 22, 2023 8:25 pm

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Sri Lanka receives 8 RfQ from “potential investors” for Lanka Hospitals PLC

ECONOMYNEXT – The Sri Lankan government has received 8 Requests for Qualification (RfQ) from potential investors for the acquisition of shares in The Lanka Hospitals Corporation PLC, the State-Owned Enterprises Restructuring Unit said.
https://economynext.com/sri-lanka-receives-8-rfq-from-potential-investors-for-lanka-hospitals-plc-141155/

K.R · **103** Re: Focus on Government controlled entities Thu Nov 23, 2023 7:33 am

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Asiri, Hemas and Sunshine speculated among local firms whilst India’s Apollo and Kauvery figure in overseas interests that includes parties from UK and Malaysia

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Ekanayake90 · **104** Re: Focus on Government controlled entities Sun Nov 26, 2023 12:57 pm

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There could be a consolidation between government owned insurance businesses after the split process #PINS

SLIC to be split into Life and General units

The Sri Lanka Insurance Corporation (SLIC) will be split into two entities namely Life and General before its restructure and the background to this process is nearing completion, Finance Ministry officials said.

The Regulation of Insurance Industry (Amendment) Act, No.03 of 2011 requires an existing insurer to be listed on the Colombo Stock Exchange (CSE). Insurance Companies were asked to segregate their business into two separate companies before obtaining a mandatory public listing to promote greater transparency and encourage better governance but SLIC was exempted in a 2014 letter to the SLIC trade unions by the finance ministry saying that SLIC isn’t required to segregate the Life and General Insurance businesses and also that they need not list on the CSE – both rules that had to be followed by all other private insurance companies.

Now with SOE restructuring efforts, the state insurance arm will be split into life and general units, as per the instructions provided to the State-owned Enterprise Restructuring Unit (SRU) of the Ministry of Finance by the Committee on Public Enterprises. The request for proposals to invest in SLIC will go out in the first quarter of next year

ErangaDS · **105** Re: Focus on Government controlled entities Thu Dec 14, 2023 8:54 am

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ප්‍රතිව්‍යූහගතකරණයට නියමිත රාජ්‍ය ආයතන 4ක් ගැන මූල්‍ය අරමුදල විමසිල්ලෙන්. මාර්ග සංවර්ධන අධිකාරියත් ඒ අතර

ලංකන් ගුවන් සමාගම, ලංකා ඛනිජ තෙල් සහයෝගිතාව, ලංකා විදුලිබල මණ්ඩලය සහ මාර්ග සංවර්ධන අධිකාරිය
http://biz.adaderana.lk/%e0%b6%b4%e0%b7%8a%e2%80%8d%e0%b6%bb%e0%b6%ad%e0%b7%92%e0%b7%80%e0%b7%8a%e2%80%8d%e0%b6%ba%e0%b7%96%e0%b7%84%e0%b6%9c%e0%b6%ad%e0%b6%9a%e0%b6%bb%e0%b6%ab%e0%b6%ba%e0%b6%a7-%e0%b6%b1%e0%b7%92%e0%b6%ba/?utm_source=dlvr.it&utm_medium=twitter

ErangaDS · **106** Re: Focus on Government controlled entities Tue Dec 19, 2023 11:27 am

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රක්ෂණ සංස්ථාවේ ‘ලයිෆ් – ජෙනරල්‘ වෙන් කරයි

රාජ්‍ය ව්‍යවසාය ප්‍රතිසංස්කරණය යටතේ 2011 අංක 3 දරන රක්ෂණ කර්මාන්තය විධිමත් කිරීමේ (සංශෝධන) පනතේ විධිවිධානවලට අනුකූල වෙමින්, ශ්‍රී ලංකා රක්ෂණ සංස්ථාවේ ජීවිත සහ සාමාන්‍ය රක්ෂණ ව්‍යාපාර වෙනම නෛතික ආයතන ලෙස ක්‍රියාත්මක කිරීම පිණිස අවශ්‍ය පියවර ගැනීම සඳහා 2023-03-13 දින පැවති අමාත්‍ය මණ්ඩල රැස්වීමේදී අනුමැතිය ලබා දී ඇත.
ඒ අනුව, සීමාසහිත ශ්‍රී ලංකා රක්ෂණ සංස්ථාවේ ජීවිත සහ සාමාන්‍ය රක්ෂණ ව්‍යාපාර කටයුතු එම සංස්ථාවේ පූර්ණ අනුබද්ධ ආයතනයන් වන සීමාසහිත ශ්‍රී ලංකා ඉන්ෂුවරන්ස් කෝපරේෂන් ලයිෆ් ලිමිටඩ් සහ සීමාසහිත ශ්‍රී ලංකා ඉන්ෂුවරන්ස් කෝපරේෂන් ජෙනරල් ලිමිටඩ් වෙත වෙන් කිරීම පිණිස මුදල්, ආර්ථික ස්ථායීකරණ සහ ජාතික ප්‍රතිපත්ති අමාත්‍ය වශයෙන් ජනාධිපතිවරයා ඉදිරිපත් කළ යෝජනාව අමාත්‍ය මණ්ඩලය විසින් අනුමත කරන ලදී.
http://biz.adaderana.lk/%e0%b6%bb%e0%b6%9a%e0%b7%8a%e0%b7%82%e0%b6%ab-%e0%b7%83%e0%b6%82%e0%b7%83%e0%b7%8a%e0%b6%ae%e0%b7%8f%e0%b7%80%e0%b7%9a-%e0%b6%bd%e0%b6%ba%e0%b7%92%e0%b7%86%e0%b7%8a-%e0%b6%a2%e0%b7%99/?utm_source=dlvr.it&utm_medium=twitter

Ekanayake90 · **107** Re: Focus on Government controlled entities Wed Dec 20, 2023 10:07 am

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Ekanayake90 wrote:There could be a consolidation between government owned insurance businesses after the split process #PINS

SLIC to be split into Life and General units

The Sri Lanka Insurance Corporation (SLIC) will be split into two entities namely Life and General before its restructure and the background to this process is nearing completion, Finance Ministry officials said.

The Regulation of Insurance Industry (Amendment) Act, No.03 of 2011 requires an existing insurer to be listed on the Colombo Stock Exchange (CSE). Insurance Companies were asked to segregate their business into two separate companies before obtaining a mandatory public listing to promote greater transparency and encourage better governance but SLIC was exempted in a 2014 letter to the SLIC trade unions by the finance ministry saying that SLIC isn’t required to segregate the Life and General Insurance businesses and also that they need not list on the CSE – both rules that had to be followed by all other private insurance companies.

Now with SOE restructuring efforts, the state insurance arm will be split into life and general units, as per the instructions provided to the State-owned Enterprise Restructuring Unit (SRU) of the Ministry of Finance by the Committee on Public Enterprises. The request for proposals to invest in SLIC will go out in the first quarter of next year

This is Big , will see the next move

Cabinet approval has been granted to divest the life and general insurance business of Sri Lanka Insurance Corporation Limited.

Accordingly, Sri Lanka Insurance Corporation Limited will be segregated into Sri Lanka Insurance Corporation Life Limited and Sri Lanka Insurance Corporation General Limited.
The government said Cabinet approval was given in March 2023 for taking the necessary steps to operate the life and general insurance businesses of the Sri Lanka Insurance Corporation as separate legal entities.
https://www.newswire.lk/2023/12/19/sri-lanka-insurance-corporation-major-cabinet-decision/

ErangaDS · **108** Re: Focus on Government controlled entities Thu Dec 21, 2023 3:48 pm

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The Government should declare WAR against these Terrorist Organizations

Privatization of key sectors : Trade Unions to hold joint talks next week

The Trade Unions said several sectors, including electricity, banking, insurance, telecom, and postal services, have already expressed their endorsement of these discussions. In recent weeks, unions representing postal and telecom workers have staged strikes, with the latter continuing its protest action last week.
https://www.newswire.lk/2023/12/21/privatization-of-key-sectors-trade-unions-to-hold-joint-talks-next-week/

K.R · **109** Re: Focus on Government controlled entities Sun Jan 07, 2024 9:22 am

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The selected prequalified bidders for the divestiture of Lanka Hospitals, Canwill Holdings, and Hotel Developers Lanka would be commencing their due diligence process in the upcoming days.
https://www.themorning.lk/articles/XFMUFddgFwVn24oUJoL1

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ErangaDS · **110** Re: Focus on Government controlled entities Sat Jan 13, 2024 1:05 pm

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SLT : Hopefully Jio will gets it & disrupt the market the way they did it in India Worrying signs for Dialog

Pettigo, India’s Jio among investors interested in Sri Lanka Telecom

ECONOMYNEXT – Three investors have expressed interest in the sale of Sri Lanka Telecom shares, the island’s State-Owned Enterprises Restructuring Unit said.

They are: Jio Platforms Ltd, Gujrat, India, Gortune International Investment Holding Ltd, submitted by Capital Alliance Limited, and Pettigo Comercio International LDA submitted by NDB Investment Bank Ltd.

Jio Platforms is a unit of Reliance Industries, and Pettigo is part of the Lycamobile group.

https://economynext.com/pettigo-indias-jio-among-investors-interested-in-sri-lanka-telecom-147212/

Ekanayake90 · **111** Re: Focus on Government controlled entities Mon Jan 15, 2024 10:05 pm

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Regional rivals China, India eye Sri Lanka Telecom

Jio Platforms Ltd and a unit of Reliance industries of India and Gortune International Investment Holding Ltd have expressed interest in Sri Lanka Telecom.
Gortune International is an entity made up of private Chinese investors, market sources said.
ECONOMYNEXT_

Last edited by Ekanayake90 on Mon Jan 15, 2024 10:08 pm; edited 1 time in total

Ekanayake90 · **112** Re: Focus on Government controlled entities Mon Jan 15, 2024 10:07 pm

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Quibit wrote:SLT, HDFC, MBSL, LHCL, PINS, PLC

Download Link
https://drive.google.com/file/d/1rYmBMbAQVnaMDWPaxgqjkip-XXop_wSH/view?usp=sharing

Regional rivals China, India eye Sri Lanka Telecom

Jio Platforms Ltd and a unit of Reliance industries of India and Gortune International Investment Holding Ltd have expressed interest in Sri Lanka Telecom.
Gortune International is an entity made up of private Chinese investors, market sources said.
ECONOMYNEXT_

2024 - The Year Of SOEs

ErangaDS · **113** Re: Focus on Government controlled entities Thu Jan 18, 2024 7:11 am

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Sri Lanka seeks investor interest to sell Litro Gas

ECONOMYNEXT – Sri Lanka’s State-owned Enterprise Restructuring Unit has called for expressions of interest to sell Litro Gas and Litro Gas Terminal according to a public notice.

Applications must be submitted by February 16.

The government has 99.93 percent of the shares through Sri Lanka Insurance Corporation, and four workers have the balance.
https://economynext.com/sri-lanka-seeks-investor-interest-to-sell-litro-gas-147689/

ErangaDS · **114** Re: Focus on Government controlled entities Thu Jan 18, 2024 11:29 am

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Sri Lanka President invites Indian firms to privatization

India’s Reliance group has already expressed interest in Sri Lanka Telecom privatization.

Opportunities for potential investors were highlighted in key sectors such as telecommunications, financial services, and energy.
https://economynext.com/sri-lanka-president-invites-indian-firms-to-privatization-147709/

Ekanayake90 · **115** Re: Focus on Government controlled entities Sun Jan 28, 2024 9:46 am

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2024 - The Year Of SOEs

Sri Lanka hopes to issue first divestment RFP within a week
Sri Lanka plans to issue to first request for proposal to divest government companies within a week, Director General of State Enterprises Reform Unit, Suresh Shah said.

Sri Lanka has a two-stage bidding process where expressions of interest is called, and qualified investors are given request for proposal documents to make financial bids for SOEs.

Lanka Hospitals, Hotel Developers and Canwill Holdings RFP issuance process is in advanced stages, Shah said.

Sri Lanka has got multiple responses to buy state assets.
ECONOMYNEXT

ErangaDS · **116** Re: Focus on Government controlled entities Wed Jan 31, 2024 9:59 am

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The Cabinet Appointed Special Project Committee (SPCC) and the Special Cabinet Appointed Negotiating Committee (SpCANC) have pre-qualified the following bidders for the RFP stage:
I. Jio Platforms Ltd
2. Gortune International Investment Holding Ltd

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ErangaDS · **117** Re: Focus on Government controlled entities Thu Mar 07, 2024 6:33 pm

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RFQs - SLIC

Life Insurance
i. LIC (Lanka) Limited
ii. Union Assurance PLC
iii. Asiri Hospital Holdings PLC

General Insurance
i. Euro Exim Bank Limited
ii. Fairfirst Insurance Limited

On 26th January 2024 via international and local media the Government of Sri Lanka (GoSL) acting through the Ministry of Finance, Economic Stabilization and National Policies, called for Request for Qualification (RfQ) from potential investors for the divestiture of its shares in Sri Lanka Insurance Corporation Life Limited and Sri Lanka Insurance Corporation General Limited.
https://www.newswire.lk/2024/03/07/selling-sri-lanka-insurance-five-companies-submit-rfqs/

Ekanayake90 · **118** Re: Focus on Government controlled entities Mon May 27, 2024 7:31 am

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According to the government’s SOE reform policy, all commercial SOEs will be subjected to divestment, except in matters of national security and when there is no potential for private participation, among other matters.

https://www.sundaytimes.lk/240526/news/some-80-state-enterprises-to-be-restructured-under-sweeping-reforms-558437.html

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ErangaDS · **119** Re: Focus on Government controlled entities Mon Jun 10, 2024 4:15 pm

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Sri Lanka expects to conclude all transactions related to divestiture of SOEs by August this year under an ambitious reform process recommended by the International Monetary Fund. The divestiture of loss-making Srilankan Airlines is likely to be concluded later.

https://economynext.com/divesting-soes-can-generate-greater-profits-through-taxation-sri-lanka-restructuring-unit-167222/

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Focus on Government controlled entities

101 Re: Focus on Government controlled entities Sun Nov 19, 2023 5:34 pm

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102 Re: Focus on Government controlled entities Wed Nov 22, 2023 8:25 pm

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109 Re: Focus on Government controlled entities Sun Jan 07, 2024 9:22 am

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