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Focus on Government controlled entities

+15
Beyondsenses
Thushara Ayya
God Father
npgslnawa
ErangaDS
Citizen Silva
ADVENTUS
rajini
Eranx
suku502
samaritan
Quibit
K.R
D.G.Dayaratne
Ekanayake90
19 posters

Go to page : Previous  1, 2, 3, 4, 5  Next

Go down  Message [Page 2 of 5]

ErangaDS


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

"You should walk the talk Mr President & it has to be NOW"

President eyes $ 3-4 b via sale of SOEs; says big State sector did not help SL to grow fast
https://www.ft.lk/front-page/President-eyes-3-4-b-via-sale-of-SOEs-says-big-State-sector-did-not-help-SL-to-grow-fast/44-741523

rajini


Manager - Equity Analytics
Manager - Equity Analytics

ErangaDS wrote:"You should walk the talk Mr President & it has to be NOW"

President eyes $ 3-4 b via sale of SOEs; says big State sector did not help SL to grow fast
https://www.ft.lk/front-page/President-eyes-3-4-b-via-sale-of-SOEs-says-big-State-sector-did-not-help-SL-to-grow-fast/44-741523

It will never going to happen. They will put the burden on the private sector.
Now it is very much clear the plan A is tax the private sector as much as possible (1000 USD has to pay 30% tax) and feed the public sector.

ErangaDS


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

There is a strong pro privatization sentiment even within the government, we have never seen such in the history of SL. I believe we are on the right track but we need to fasten the process.

"Sri Lanka’s government in particular should not be in business due to severe policy uncertainty that hit state enterprises, Foreign Minister Ali Sabry said."
https://economynext.com/sri-lanka-government-in-particular-should-not-be-in-business-minister-101717/

D.G.Dayaratne


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Privatization is productive  with transparency with out CRONY CAPITALISM

NOT LIKE DURING THE TIME OF JR,PEMADASA, CHADRIKA,  MAHINDA  MAITHREE AND GOTA.

ErangaDS likes this post

30Focus on Government controlled entities - Page 2 Empty Re: Focus on Government controlled entities Fri Nov 04, 2022 12:40 am

ADVENTUS


Moderator
Moderator

D.G.Dayaratne wrote:Privatization is productive  with transparency with out CRONY CAPITALISM

NOT LIKE DURING THE TIME OF JR,PEMADASA, CHADRIKA,  MAHINDA  MAITHREE AND GOTA.


WAS LOOKING AT THIS RECENTLY. IN FACT, PREMADASA HAD THE BEST MODEL. WORKED BEST AND WAS TRANSPARENT AND WE ARE STILL BENEFITING FROM IT I.E., TEA INDUSTRY.

D.G.Dayaratne


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

As far as i know most of companies are not managed efficiently.Lot
of corrupt and uneducated people

Plantation sector is managed by schools rejects of high school.
( Pl note that this is a general statement There are exception  I mean
honest and efficient people)



Last edited by D.G.Dayaratne on Fri Nov 04, 2022 8:34 am; edited 1 time in total (Reason for editing : to add more)

ErangaDS, ADVENTUS and Citizen Silva like this post

32Focus on Government controlled entities - Page 2 Empty Re: Focus on Government controlled entities Fri Nov 04, 2022 10:02 am

Citizen Silva


Equity Analytic
Equity Analytic

D.G.Dayaratne wrote:As far as i know most of companies are not managed efficiently.Lot
of corrupt and uneducated people

Plantation sector is managed by schools rejects of high school.
( Pl note that this is a general statement There are exception  I mean
honest and efficient people)
In addition to privatisation they should stop most free handouts except for the very needy (old, weak unable to work etc) there should be a safety net. Especially they should stop free higher education. Also students should be barred from any political activity within the Universities. Private medical schools should be allowed.

ErangaDS and ADVENTUS like this post

ErangaDS

ErangaDS
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Budget 2023
Focus on Government controlled entities - Page 2 659f0f10

K.R

K.R
Manager - Equity Analytics
Manager - Equity Analytics

https://www.ft.lk/top-story/Ranil-spells-out-winning-formula/26-742151

Ranil spells out winning formula*

Affirms Govt. has no intention to do biz
Opines no hesitation to sell SOEs if $ 7 b assets available

He categorically said that the Government does not intend to do business, whilst pointing out that it lost billions and trillions of rupees which would have been better invested on education, health or housing.

ErangaDS likes this post

K.R

K.R
Manager - Equity Analytics
Manager - Equity Analytics

ErangaDS likes this post

ErangaDS

ErangaDS
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

President reveals why Govt selling profit-making enterprises

“They still ask, why are you selling profit-making enterprises, look at the SLT It’s making profits. If you ask the secretary of the Treasury, he will tell you what profits are made and how much more money we are to pump into the future. The money we haven’t got. We have to decide whether we want to strengthen the people or whether we want to take public money and strengthen the Insurance Corporation, Sri Lankan and Telecom. My priority is to look at the people and not these companies and buildings. All of you who want to know why we are selling it, we are selling it so that we can put this money into the foreign exchange reserve and strengthen the rupee. I will tell you one thing. If I can sell more and put 7 billion back, I will do it. And tomorrow we will be back to normal. I don’t know if we have 7 billion, but if I can get 7 billion, I will do it. I have no hesitation about that. I want the people of this country to have a good life”

https://www.newswire.lk/2022/11/19/president-reveals-why-govt-selling-profit-making-enterprises/
Focus on Government controlled entities - Page 2 Ff9e7a10

K.R likes this post

37Focus on Government controlled entities - Page 2 Empty Re: Focus on Government controlled entities Sun Nov 20, 2022 10:45 am

K.R

K.R
Manager - Equity Analytics
Manager - Equity Analytics

K.R wrote:
K.R wrote:
Ekanayake90 wrote:Sri Lanka can raise US$2-3bn by reducing SOEs: President

ECONOMYNEXT – Sri Lanka plans boost central bank reserves by reducing state owned enterprises President Ranil Wickremesinghe told parliament, in a possible reference to a rivatization drive.

“By reducing the burden of SOE we can expand the reserves by getting 2 to 3 billion US dollar,” President Wickrmesinghe told parliament.

“This is the only short term way we can get a few billions of reserves in the short term.”

Sri Lanka has a series of so-called ‘low hanging fruits’ which can be sold down.

These include Sri Lanka Insurance, *residual stakes in already listed companies like Sri Lanka Telecom, and state owned hotels*. (Colombo/Oct05/2022)


CSE - PINS , SLT , LHCL 

         30/06/2022.       30/09/2022 

SLT.       Rs. 29                   44
LHCL.    Rs. 51                    91
PINS.     Rs. 19                    21

💎

LHCL 100 🔥

SLT 56
PINS 19.60 💎
18/11/2022

LHCL 95.50
SLT 70.50   :fire:
PINS 18.50  :gem:

ErangaDS

ErangaDS
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Ceylon Chamber presents model for SOE restructuring agency_
The Public Sector Reform Steering Committee of the Ceylon Chamber of Commerce (CCC), through its Sub-Committee on State-owned enterprise (SOE) Reform, recently presented a set of proposals to policymakers on SOE reforms.

Identifies 127 SOEs as not requiring Government ownership, 19 that can be liquidated

https://www.themorning.lk/ceylon-chamber-presents-model-for-soe-restructuring-agency/

39Focus on Government controlled entities - Page 2 Empty Re: Focus on Government controlled entities Mon Dec 05, 2022 10:41 pm

K.R

K.R
Manager - Equity Analytics
Manager - Equity Analytics

Sri Lanka offers East Container Terminal to Japan: President

ECONOMYNEXT – Sri Lanka has offered the East Container Terminal (ECT) of the Colombo Port to Japan, President Ranil Wickremesinghe said.

Colombo Port’s West Terminal has been given to India’s Adani group to develop as a joint venture after the the government of previous president cancelled the ECT deal with India and Japan through a tripartite agreement .

“If we really want to do it, we have to give the East Terminal,” President Wickremesinghe told the Sri Lanka Economic Summit of the Ceylon Chamber of Commerce.

“We have given first offer to Japan.”


If Japan does not take it will be open to others, he said. (Colombo/Dec05/2022)

K.R

K.R
Manager - Equity Analytics
Manager - Equity Analytics

SL inept to continue international trade if reserves fail $ 3 b mark: Cabinet Co-Spokesman



Suggests selling whatever assets available to overcome dire forex crisis

Cites CBK's era as major timeline where Govt. opted for privatising SOEs to cover Budget deficit

Urges Sri Lankans to change attitudes to understand ground realities


Cabinet Co-Spokesman and Minister Bandula Gunawardena yesterday said that Sri Lanka will not be able to continue trading internationally unless the foreign reserves are increased to at least $ 3 billion.

“If we don't sell whatever assets available to overcome the dire foreign exchange situation, our country will not be able to conduct business internationally anymore,” he said at the post-Cabinet meeting media briefing yesterday.

Recalling that former President Chandrika Bandaranaike Kumaratunga’s era was the major timeline that any Government privatised the State-owned enterprises to cover the outstanding Budget deficit, Cabinet Co-Spokesman urged that it was time Sri Lankans change their attitudes to understand the ground realities.

“Unless we expand our foreign reserves to at least $ 3 billion soon, the Letter of Credit issued by the banks will no longer be accepted in the international trading arena. In the event the LCs issued by the banks are not accepted internationally, we cannot import fuel or gas no matter how bad our economic conditions may be. This is the reality of the international payment system,” he cautioned.

He also cited last week’s further downgrades issued by international rating agencies for Sri Lanka’s long-term debt and currency outlook was not at all favourable for the economy going forward.

Cabinet Co-Spokesman said the ground reality must be faced by all, be it anyone aspiring to come into power.

Emphasising that attracting foreign direct investments is critical at this juncture, Minister Gunawardena said all Sri Lankans have a responsibility to boost FDIs carefully and diligently.

“All other economies such as India, China, Vietnam, and Malaysia are attracting sizable FDIs and we should find out why those investments are not flowing into our economy and why our entrepreneurs are investing in countries like Bangladesh, Ethiopia and Kenya and not in Sri Lanka,” he added.

Reiterating that Sri Lanka is facing the worst fiscal policy crisis in its history, he stressed the importance of achieving the set targets in the fiscal framework.

“This is the worst economic downturn that Sri Lanka has experienced in its 75-year post-independence,” he said.

K.R

K.R
Manager - Equity Analytics
Manager - Equity Analytics

Sri Lanka to re-structure SOEs in multiple ways, SLT work started: Minister

ECONOMYNEXT – State enterprises will be re-structured in multiple ways and work on the sale Sri Lanka Telecom has started, Minister Ranjith Siyambalapitiya said.

In 2021, 367 billion rupees had had been given by the Treasury to maintain the 430 entities.

The following models will be considered for state enterprises that will be re-structured

-Changing the structure into separate entities and managing them


-Consolidating enterprises engaged in similar activities

-Keeping state management but giving operations to private sector

-Giving management to private sector and keeping ownership with the state

-Leasing parts of entity or as a whole

-Selling down a stake of 49 percent or less

-Transferring full ownership to another entity on a transparent mechanism

The SOE re-structuring unit had already started work on Sri Lanka Telecom, which was listed in the budget for 2023 for sale, but the model had not been decided, he said.

SLT is a public listed company in which the Treasury has a 49.5 percent stake and Global Telecommunications Holdings NV, a part of Malaysia’s Maxis group has a 44.9 percent stake.

The method of sell-down on SLT has not been decided, he said. (Colombo/Dec08/2022)

ErangaDS

ErangaDS
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

8 billion USD : FM reveals SL’s hopes for next year

In an exclusive interview with Reuters, the Foreign Minister said that the government could raise up to USD 3 billion through the restructuring of state assets.
https://www.newswire.lk/2022/12/14/8-billion-usd-fm-reveals-sls-hopes-for-next-year/

D.G.Dayaratne


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

The government will have to face strong reactions if sell FAMILY SILVER

AS A LAST RESORT.

WHY GOVT CAN'T IMPLEMENT STRONG ANT- CORRUPTION POLICY AND

RECOVER LOCAL AND FOREIGN ASSETS OF CORRUPTED POLITICIANS AND HIGH OFFICIALS OF GOVT ?

ErangaDS likes this post

44Focus on Government controlled entities - Page 2 Empty Re: Focus on Government controlled entities Thu Dec 15, 2022 10:32 am

npgslnawa


Manager - Equity Analytics
Manager - Equity Analytics

D.G.Dayaratne wrote:The government will have to face strong reactions if sell FAMILY SILVER

AS A LAST RESORT.

WHY GOVT CAN'T IMPLEMENT STRONG ANT- CORRUPTION POLICY AND

RECOVER LOCAL AND FOREIGN ASSETS OF CORRUPTED POLITICIANS AND HIGH OFFICIALS OF GOVT ?

Government = CORRUPTED POLITICIANS AND HIGH OFFICIALS 


D.G.Dayaratne wrote:The government will have to face strong reactions if sell FAMILY SILVER

AS A LAST RESORT.

WHY GOVT CAN'T IMPLEMENT STRONG ANT- CORRUPTION POLICY AND

RECOVER LOCAL AND FOREIGN ASSETS OF CORRUPTED POLITICIANS AND HIGH OFFICIALS OF GOVT ?

Government = CORRUPTED POLITICIANS AND HIGH OFFICIALS 


D.G.Dayaratne wrote:The government will have to face strong reactions if sell FAMILY SILVER

AS A LAST RESORT.

WHY GOVT CAN'T IMPLEMENT STRONG ANT- CORRUPTION POLICY AND

RECOVER LOCAL AND FOREIGN ASSETS OF CORRUPTED POLITICIANS AND HIGH OFFICIALS OF GOVT ?


Government = CORRUPTED POLITICIANS AND HIGH OFFICIALS 


Are you saying that they should make a law against themselves and put themselves in jail?  scratch scratch scratch

K.R likes this post

God Father


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Privatisation is critical for economic survival

K.R likes this post

ErangaDS

ErangaDS
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

As per Cabinet Co-Spokesman, all the SOEs will be made subsidiaries of the holding company.

“Currently some of the SOEs are fully State-owned, some were partially owned, and others were State Corporations and Boards,” he explained.

Gunawardane also said the Treasury Secretary will own all shares of this company and the SOEs that are being restructured will be registered under this company.

https://www.ft.lk/front-page/Cabinet-nod-to-establish-holding-company-to-expedite-SOE-restructuring-program/44-743761

K.R likes this post

K.R

K.R
Manager - Equity Analytics
Manager - Equity Analytics

Government is prepared to undertake changes in the airline, telecom, insurance, and hotel sectors.

Government hopes to get between USD 1.5 billion and USD 2 billion by giving these government firms to the private sector as part of this restructuring plan.

It is also said that many local and foreign investors have sent proposals for the projects that are set to be privatised.

https://ceylontoday.lk/2023/01/24/sri-lanka-to-present-cabinet-proposal-to-divest-five-key-soes/

48Focus on Government controlled entities - Page 2 Empty Re: Focus on Government controlled entities Mon Feb 20, 2023 11:16 am

K.R

K.R
Manager - Equity Analytics
Manager - Equity Analytics

SOEs are heating up @CSE 🔥

SLT , PINS , LHCL , PLC

K.R

K.R
Manager - Equity Analytics
Manager - Equity Analytics

K.R wrote:
K.R wrote:
K.R wrote:
Ekanayake90 wrote:Sri Lanka can raise US$2-3bn by reducing SOEs: President

ECONOMYNEXT – Sri Lanka plans boost central bank reserves by reducing state owned enterprises President Ranil Wickremesinghe told parliament, in a possible reference to a rivatization drive.

“By reducing the burden of SOE we can expand the reserves by getting 2 to 3 billion US dollar,” President Wickrmesinghe told parliament.

“This is the only short term way we can get a few billions of reserves in the short term.”

Sri Lanka has a series of so-called ‘low hanging fruits’ which can be sold down.

These include Sri Lanka Insurance, *residual stakes in already listed companies like Sri Lanka Telecom, and state owned hotels*. (Colombo/Oct05/2022)


CSE - PINS , SLT , LHCL 

         30/06/2022.       30/09/2022 

SLT.       Rs. 29                   44
LHCL.    Rs. 51                    91
PINS.     Rs. 19                    21

💎

LHCL 100 🔥

SLT 56
PINS 19.60 💎
18/11/2022

LHCL 95.50
SLT 70.50   :fire:
PINS 18.50  :gem:

02/03/2033 

LHCL 104.50
SLT     84.80
PINS   22.70 💎

ErangaDS likes this post

K.R

K.R
Manager - Equity Analytics
Manager - Equity Analytics

ECONOMYNEXT – Sri Lanka expects to raise an ambitious $4.5 billion from selling both profitable and loss-making state-owned enterprises, two officials said, as the crisis-hit nation is desperately looking for foreign inflows to come out of an unprecedented economic crisis.

https://economynext.com/sri-lanka-eyes-4-5-bln-from-profitable-loss-making-state-asset-divestment-114296/

Ekanayake90 likes this post

ErangaDS

ErangaDS
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

#SriLanka's Cabinet has given 'approval in principle' for the divestment of the stakes held by the Treasury in Sri Lanka Telecom & The Lanka Hospitals Corp

Divestments will be done by the Enterprise Restructuring unit of the Ministry of Finance subject to due process.

Phase 01.  SLT  LHCL  SLIC  Sri Lankan ✈ 
Phase 02. _________ ? (People’s Group , Hotels)

Ekanayake90, LHW, K.R and Beyondsenses like this post

K.R

K.R
Manager - Equity Analytics
Manager - Equity Analytics

ErangaDS wrote:#SriLanka's Cabinet has given 'approval in principle' for the divestment of the stakes held by the Treasury in Sri Lanka Telecom & The Lanka Hospitals Corp

Divestments will be done by the Enterprise Restructuring unit of the Ministry of Finance subject to due process.

Phase 01.  SLT  LHCL  SLIC  Sri Lankan ✈ 
Phase 02. _________ ? (People’s Group , Hotels)


SLIC & People’s Group 📈

Sri Lanka to Raise Billions by Selling SOEs as IMF Green Lights Bailout 
In a move aimed at raising approximately $3-4 Billion, GOSL is taking steps to divest stakes in key State-Owned Enterprises (SOEs) and their subsidiaries, with the goal of strengthening the country’s foreign exchange (Forex) reserves and the value of the Sri Lankan Rupee (LKR).

https://www.newscutter.lk/sri-lanka-news/top-stories/sri-lanka-selling-soes-imf-bailout-21032023-59920/

Ekanayake90 and ErangaDS like this post

Ekanayake90

Ekanayake90
Manager - Equity Analytics
Manager - Equity Analytics

It’s happening faster than expected

Kudos Mr President 👏

sheildskye and K.R like this post

K.R

K.R
Manager - Equity Analytics
Manager - Equity Analytics

President reveals how Public sector destroyed money

He noted that in the future, the public sector will stop engaging in business and open it to the private sector to create a free and productive economy.

Recalling that Mr. D.S. Senanayake’s vision was to create a free economy, the President said that business should be done by the private sector and that the country could be developed with the tax revenue obtained from them

https://www.newswire.lk/2023/03/23/president-reveals-how-public-sector-destroyed-money/

ErangaDS

ErangaDS
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

ErangaDS wrote:#SriLanka's Cabinet has given 'approval in principle' for the divestment of the stakes held by the Treasury in Sri Lanka Telecom & The Lanka Hospitals Corp

Divestments will be done by the Enterprise Restructuring unit of the Ministry of Finance subject to due process.

Phase 01.  SLT  LHCL  SLIC  Sri Lankan ✈ 
Phase 02. _________ ? (People’s Group , Hotels)


Phase 01 ☑

Cabinet approval to sell shares of 7 state owned enterprises

Ministry of Finance says the cabinet has approved the divestment of shares of 7 state owned enterprises.

Sri Lankan Airlines Ltd including Sri Lankan Catering Ltd
Sri Lanka Telecom PLC
Sri Lanka Insurance Corporation Ltd
Canwill Holdings Pvt. Ltd., (Grand Hyatt Hotel)
Hotel Developers Lanka Ltd., (Hilton Hotel Colombo),
Litro Gas Lanka Ltd., including Litro Gas Terminals (Pvt) Ltd., (LPG retailing)
Lanka Hospital Corporation PLC

https://www.newswire.lk/2023/03/23/cabinet-approval-to-sell-shares-of-7-state-owned-enterprises/

K.R likes this post

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