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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Focus on Government controlled entities

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

Go down  Message [Page 4 of 4]

76Focus on Government controlled entities - Page 4 Empty Re: Focus on Government controlled entities Sat Jun 10, 2023 12:38 pm

K.R


Manager - Equity Analytics
Manager - Equity Analytics

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

Focus on Government controlled entities - Page 4 Img_2110

ErangaDS


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

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

Beyondsenses likes this post

ErangaDS


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

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


Manager - Equity Analytics
Manager - Equity Analytics

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) 


Focus on Government controlled entities - Page 4 Img_2110

Is it the time for SOEs in CSE $$ 

ErangaDS and K.R like this post

God Father


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

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

Focus on Government controlled entities - Page 4 Scree134
Focus on Government controlled entities - Page 4 Scree132
Focus on Government controlled entities - Page 4 Scree133

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

K.R likes this post

ErangaDS

ErangaDS
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

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

Focus on Government controlled entities - Page 4 Scree134
Focus on Government controlled entities - Page 4 Scree132
Focus on Government controlled entities - Page 4 Scree133

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

82Focus on Government controlled entities - Page 4 Empty Re: Focus on Government controlled entities Sun Jul 23, 2023 10:20 am

K.R

K.R
Manager - Equity Analytics
Manager - Equity Analytics

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 likes this post

ErangaDS

ErangaDS
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

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

soileconomy
Vice President - Equity Analytics
Vice President - Equity Analytics

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


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

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 ?

ErangaDS likes this post

soileconomy

soileconomy
Vice President - Equity Analytics
Vice President - Equity Analytics

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

ErangaDS likes this post

87Focus on Government controlled entities - Page 4 Empty Re: Focus on Government controlled entities Thu Sep 07, 2023 10:12 am

D.G.Dayaratne


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

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)

88Focus on Government controlled entities - Page 4 Empty Re: Focus on Government controlled entities Sun Sep 10, 2023 12:13 pm

soileconomy

soileconomy
Vice President - Equity Analytics
Vice President - Equity Analytics

[size=34]Politics a “no no” in SOEs reforms
By Sunimalee Dias
View(s): 56[/size]

Sri Lanka’s commitment to state owned enterprises (SOEs) reforms is crucial to the country’s future with no room for “complacency” focusing on transparency and a disciplined approach and no room for political thuggery under institutions run by experts.
These matters were brought to the fore at this week’s Asian Development Bank’s (ADB) Serendipity Knowledge Programme on ‘SOE Reform: Challenges and Opportunities for Sri Lanka’ where a panel of experts highlighted the case studies from other countries and the impact of these changes on the country’s future.
Treasury Secretary Mahinda Siriwardena opening the discussion highlighted that the path to SOE reforms does not allow for any “complacency” and no room for margin of error else it could lead to devastating consequences.
Mismanagement, corruption due to ownership and undue political influence have contributed to significant losses in the SOEs in the past burdening the citizenry.
Key factors that need to be addressed in overcoming the SOEs problems are cost reflective pricing; balance sheet restructuring; introduction of competition in key sectors; and divestment of non-strategic assets; and governance and legislation.
Keynote speaker at the event former President of Stattum and Director at the Swedish Ministry of Industry Dag Detter highlighted the challenges they faced in trying to establish reforms in Sweden and their experiences in coming close to political thuggery which he vehemently criticised as being the main deterrent in moving ahead with reforms.
He pointed out that the total value of public assets in Sri Lanka amounts to US$240 billion and managing them properly is crucial to obtaining their real value. Data needs to be made available in a bid to ensure these institutions are managed well.
Sri Lanka’s SOE Restructuring Unit Chairperson Suresh Shah noted that it was proposed to appoint directors to the Holding Company and the SOEs through a system established independently in this regard.
SOEs are not to rely on state banks for funding but to become profitable ventures so as to ensure they fund their own future operations.
Of the 130 SOEs about 30 can be depleted, some can be under government control; some to be engaged in a Public Private Partnership; about 80 to be out of government control. They are currently working on a “narrow time frame” it was noted.

[size=31]Share This Post[/size]

[size=31]Taken from Sunday times 10/09/2023[/size]



Last edited by soileconomy on Sun Sep 10, 2023 12:15 pm; edited 1 time in total (Reason for editing : Source)

89Focus on Government controlled entities - Page 4 Empty Re: Focus on Government controlled entities Sun Sep 10, 2023 12:19 pm

soileconomy

soileconomy
Vice President - Equity Analytics
Vice President - Equity Analytics

[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 likes this post

90Focus on Government controlled entities - Page 4 Empty Re: Focus on Government controlled entities Thu Sep 14, 2023 12:46 pm

ErangaDS

ErangaDS
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

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

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