Focus on Government controlled entities

K.R · 76 Re: Focus on Government controlled entities Sat Jun 10, 2023 12:38 pm

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https://www.newswire.lk/2023/06/10/privatization-of-slt-clarification-from-the-govt/

Focus on Government controlled entities - Page 4 Img_2110

ErangaDS · 77 Re: Focus on Government controlled entities Thu Jun 15, 2023 7:38 am

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First SOE privatisation by Q4 of 2023

Unit expects to privatise the first SOE by Q4 of 2023 and that almost all proposals received for transaction advisors are a partnership between a local and international investment bank.

https://www.themorning.lk/articles/1sYL9madlPGVFzDXVaHo

ErangaDS · 78 Re: Focus on Government controlled entities Thu Jun 22, 2023 7:40 am

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Sri Lanka selects privatization advisors

Capital Alliance Partners with Alvarez and Marsal has been selected for Sri Lanka Insurance.

Patinum Advisors with Colliers, for Hotel Developers and Deloitte India for Litro Gas and Canwill Holdings, the owning company of Colombo’s Hyatt building.

Sri Lanka’s state enterprise restructuring unit is expecting to start the first sell-downs in the fourth quarter of 2023.

https://economynext.com/sri-lanka-selects-privatization-advisors-124140/

Ekanayake90 · 79 Re: Focus on Government controlled entities Thu Jun 22, 2023 8:41 pm

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ErangaDS wrote:CSE listed SOEs

State Banks and its subsidiaries
*People’s Bank - PINS PLC
*BOC - MBSL

“Apart from above 3 companies, Government has the control over HDFC Bank through National Housing Development Authority”

***These 4 are the only CSE listed companies, which has a controlling interest of the Government.(SLT LHCL already announced)

[size=33]SDF confirms expressing interest on SLSB[/size]

Sarvodaya Development Finance PLC (SDF) yesterday confirmed it has expressed its interest in acquiring the Sri Lanka Savings Bank (SLSB) to the Ministry of Finance, Economic Stabilisation, and National Policies.

In its filing to the CSE, SDF said its proposal was in line with the government announcement of divestment of state-owned enterprises in its efforts of economic reforms and restructuring.

SLSB is a fully owned subsidiary of National Savings Bank (NSB)

Is it the time for SOEs in CSE $$

God Father · 80 Re: Focus on Government controlled entities Fri Jun 23, 2023 9:55 am

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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

ErangaDS · 81 Re: Focus on Government controlled entities Sun Jul 09, 2023 9:12 am

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God Father wrote:

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

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

SOE restructuring: Lanka Hospitals, Hilton, Grand Hyatt picked as priority divestments

The ongoing SOE restructuring process is likely to start with the divestment of the State’s controlling stake in either Lanka Hospitals Corporation PLC, Hotel Developers Lanka Ltd. (Hilton Colombo), or Canwill Holdings (Pvt) Ltd. (Grand Hyatt, Colombo), the State-Owned Enterprise Restructuring Unit (SOERU) of the Ministry of Finance, Economic Stabilisation, and National Policies reveals.

https://www.themorning.lk/articles/36kriXthdjwOCSaxFW7V

K.R · 82 Re: Focus on Government controlled entities Sun Jul 23, 2023 10:20 am

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SL Insurance Corp. to be segregated into 2 entities\

Steps are being taken to split the life and general insurance businesses of Sri Lanka Insurance Corporation Ltd. (SLIC) into two separate entities prior to the divestment of the Government’s controlling stake in SLIC, the State-Owned Enterprise Restructuring Unit (SOERU) of the Ministry of Finance reveals.
Speaking to The Sunday Morning Business, SOERU Head Suresh Shah stated that in accordance with the law, the SLIC would have to separate its life and general insurance businesses before the SOERU went ahead with privatisation plans.

ErangaDS · 83 Re: Focus on Government controlled entities Wed Sep 06, 2023 7:58 am

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Sri Lanka has 80 SOEs that that could move out of state hands:
ECONOMYNEXT_

There are about 130 commercial state-owned enterprises in Sri Lanka out of which 15 are non -operational and have to be closed.

There were another 80 commercial entities that did not meet the conventional arguments for being kept in state hands.

These include having a natural monopoly, having a public service function or being an essential service.

soileconomy · 84 Re: Focus on Government controlled entities Wed Sep 06, 2023 7:05 pm

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Government may dispose the most of easiest,less trouble making entity first.
Less pressure from unions
Most easiest divestment.
Easy to gauge the Final price.
Less protest from public and parliament.
Currently profit making entity
That is my assumption

D.G.Dayaratne · 85 Re: Focus on Government controlled entities Thu Sep 07, 2023 3:57 am

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Most of privatization programs under JR, Chandrika, and Mahinda have been total failure, mainly due to CROONY CAPITALISM.

WILL SAME THING HAPPEN UNDER RANIL ALSO ?

soileconomy · 86 Re: Focus on Government controlled entities Thu Sep 07, 2023 5:50 am

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This time most of public have understood the ground reality. Specially loss making entities public are very keen on either restructuring or disposing due to economic pressure.
Some entities which were taken back by previous governments like Shell (now litro) Sri Lankans airlines ,Sri Lanka insurance may offer again
Unions are not strong at this juncture as they do not get public support as previous.
Government needs to give clear signals to local and international investors that we need FDI a
Opposition political parties are somewhat agreeable for privatisation except JVP as usual

D.G.Dayaratne · 87 Re: Focus on Government controlled entities Thu Sep 07, 2023 10:12 am

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As far as i know NPP also accept development with privet sector participation as in case of China Vietnam and many other socialist countries .

China almost complete 100% poverty REDUCTIN PROGRAME DURING LASE 15 YEAER. They call New policy as" SOCIALISM WITH CHINESE CHARASTERISTIC". THEY HAVE ALLOCATED DEVELOMENT OF EXTREEMLY POOR AREAS TO BIG PRIVATE COMPANIES.

PL VISIT INTERNET AND READ ABOUT CHINESE DEVELOPMENT UNDRE NEW POLCY AFTER MAO.

Last edited by D.G.Dayaratne on Thu Sep 07, 2023 10:15 am; edited 2 times in total (Reason for editing : TypIng Error)

soileconomy · 88 Re: Focus on Government controlled entities Sun Sep 10, 2023 12:13 pm

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soileconomy · 89 Re: Focus on Government controlled entities Sun Sep 10, 2023 12:19 pm

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[size=33]ECONOMYNEXT – Sri Lanka may appoint domestic transaction advisors for smaller divestments in the future, Director General of the State Enterprise Restructuring Unit Suresh Shah said.[/size]

[size=33]In the first set of enterprises to be sold, which included Sri Lanka Insurance, Sri Lanka Telecom and Litro Gas, international transaction advisors were appointed.By appointing local advisors in future transactions, sometime could be saved, Shah told a forum organized by CAL, a Colombo-based investment banking group.[/size]

[size=33]Sri Lanka has about 80 commercial state enterprises that could be moved to private hands, he said.Government procurement processes were time consuming and could be frustrating at times, he said.The SOE unit was however going by the rules.[/size]

[size=33]Quoted from Sunday island (10/09/2023)[/size]

ErangaDS · 90 Re: Focus on Government controlled entities Thu Sep 14, 2023 12:46 pm

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State Banks and its subsidiaries

CSE: People’s Bank - PINS PLC

BOC - MBSL

Apart from above 3 companies, Government has the control over HDFC Bank through National Housing Development Authority.

These 4 are the only CSE listed companies, which has a controlling interest of the Government.(SLT LHCL already announced)

https://fb.watch/n2ra-3HGfz/?mibextid=Gd9JSz

Focus on Government controlled entities - Page 4 Img_0110

K.R · 91 Re: Focus on Government controlled entities Tue Oct 03, 2023 12:19 pm

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AKD reveals plans to sell Milco & Highland to Amul

https://www.newswire.lk/2023/10/02/akd-reveals-plans-to-sell-milco-highland-to-amul/

soileconomy · 92 Re: Focus on Government controlled entities Thu Oct 05, 2023 4:41 am

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https://economynext.com/sri-lanka-ready-to-seek-investors-for-hilton-hyatt-lanka-hospitals-133672/

ErangaDS · 93 Re: Focus on Government controlled entities Thu Oct 05, 2023 8:20 am

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ErangaDS wrote:State Banks and its subsidiaries

CSE: People’s Bank - PINS PLC

BOC - MBSL

Apart from above 3 companies, Government has the control over HDFC Bank through National Housing Development Authority.

These 4 are the only CSE listed companies, which has a controlling interest of the Government.(SLT LHCL already announced)

https://fb.watch/n2ra-3HGfz/?mibextid=Gd9JSz

Sri Lanka plans to transfer over 80 SOEs to holding company
ECONOMYNEXT – Sri Lanka plans to transfer more than 80 state enterprises into a holding company (HoldCo) under a broad policy framework for better governance, capital raising, while maintaining state control or for future divestiture under.

https://economynext.com/wp-content/uploads/2023/10/sri-lanka-SOE-policy-EN.pdf

Focus on Government controlled entities - Page 4 Img_0211

Sri Lanka is planning to privatise its loss-making state-run carrier SriLankan Airlines in the second quarter of 2024, said Suresh Shah, the head of the state-owned Enterprises Restructuring Unit (SOERU).

About another 130 loss-making entities will also be restructured and about 85 can be privatised,” Shah said*

Sri Lanka is also separately looking at restructuring its energy, water and fuel distribution monopoly businesses as part of efforts to overhaul its public finances under the IMF programme.

https://www.dailymirror.lk/business-news/Sri-Lanka-aims-to-streamline-tax-structure-boost-collections/273-268560

ErangaDS · 94 Re: Focus on Government controlled entities Tue Oct 17, 2023 6:34 pm

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Finally!
Its happening fellas

CSE : LHCL

Focus on Government controlled entities - Page 4 Img_0212

K.R · 95 Re: Focus on Government controlled entities Tue Oct 31, 2023 9:54 am

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Sri Lanka invites interest to sell Canwill Holdings

ECONOMYNEXT – Sri Lanka’s State Owned Enterprises Unit has called for expressions of interest from investors to divest Canwill Holdings, which owns almost completely building in the capital Colombo.

https://economynext.com/sri-lanka-invites-interest-to-sell-canwill-holdings-137672/

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K.R · 96 Re: Focus on Government controlled entities Thu Nov 02, 2023 7:47 am

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Sri Lanka seeks bids in divestment of loss-making state carrier

REUTERS: Sri Lanka has invited bids for state-run carrier SriLankan Airlines as the island nation looks to reduce losses incurred by government-owned enterprises under a US $ 2.9 billion International Monetary Fund (IMF) programme.
https://www.dailymirror.lk/business-news/Sri-Lanka-seeks-bids-in-divestment-of-loss-making-state-carrier/273-270418

ErangaDS · 97 Re: Focus on Government controlled entities Sun Nov 05, 2023 11:21 am

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ErangaDS wrote:CSE listed SOEs

State Banks and its subsidiaries
*People’s Bank - PINS PLC
*BOC - MBSL

“Apart from above 3 companies, Government has the control over HDFC Bank through National Housing Development Authority”

***These 4 are the only CSE listed companies, which has a controlling interest of the Government.(SLT LHCL already announced)

Most of EOIs been called and advertised for the bidding for 1st phase of Privatization (Including Sri Lankan), will the government announce the 2nd phase within this year

K.R · 98 Re: Focus on Government controlled entities Fri Nov 10, 2023 12:08 pm

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Investors sought to divest Sri Lanka Telecom 50.23-pct stake

ECONOMYNEXT – A 50.23 -percent majority stake in Sri Lanka Telecom is offered to investors by according to a pre-qualification call by the island’s State Enterprise Restructuring Unit.
https://economynext.com/investors-sought-to-divest-sri-lanka-telecom-50-23-pct-stake-139321/

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ErangaDS · 99 Re: Focus on Government controlled entities Mon Nov 13, 2023 1:36 pm

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I propose that 20% of the shares of the two large state owned banks should be given to strategic investors or the public to improve capital and support the future growth of the two state-owned banks to reduce the burden on taxpayers' funds - President

🫡

ErangaDS · **100** Re: Focus on Government controlled entities Mon Nov 13, 2023 4:07 pm

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ErangaDS wrote:

ErangaDS wrote:CSE listed SOEs

State Banks and its subsidiaries
*People’s Bank - PINS PLC
*BOC - MBSL

“Apart from above 3 companies, Government has the control over HDFC Bank through National Housing Development Authority”

***These 4 are the only CSE listed companies, which has a controlling interest of the Government.(SLT LHCL already announced)

Most of EOIs been called and advertised for the bidding for 1st phase of Privatization (Including Sri Lankan), will the government announce the 2nd phase within this year

Phase 2 has begun

ECONOMYNEXT – Sri Lanka plans to sell 20 percent stake in state banks to strategic investors or the public, President Ranil Wickremesinghe said.

https://economynext.com/sri-lanka-to-sell-down-20-pct-of-state-banks-rs450-for-bank-recapitalization-139692/

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

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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

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Focus on Government controlled entities

76 Re: Focus on Government controlled entities Sat Jun 10, 2023 12:38 pm

K.R

77 Re: Focus on Government controlled entities Thu Jun 15, 2023 7:38 am

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78 Re: Focus on Government controlled entities Thu Jun 22, 2023 7:40 am

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