Focus on Government controlled entities

ErangaDS · 51 Re: Focus on Government controlled entities Mon Mar 20, 2023 7:06 pm

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#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)

K.R · 52 Re: Focus on Government controlled entities Tue Mar 21, 2023 8:00 pm

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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 · 53 Re: Focus on Government controlled entities Wed Mar 22, 2023 8:51 am

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It’s happening faster than expected

Kudos Mr President

K.R · 54 Re: Focus on Government controlled entities Thu Mar 23, 2023 7:39 am

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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 · 55 Re: Focus on Government controlled entities Thu Mar 23, 2023 8:20 pm

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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/

Thushara Ayya · 56 Re: Focus on Government controlled entities Fri Mar 24, 2023 9:25 am

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Will fly from today

Beyondsenses · 57 Re: Focus on Government controlled entities Sat Mar 25, 2023 6:38 am

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Thushara Ayya wrote:Will fly from today

If tomorrow never comes Rolling Eyes

majority of 6.9 million flew abroad , they might come back to save the country by 2024

Focus on Government controlled entities - Page 3 Vibe-710

ErangaDS · 58 Re: Focus on Government controlled entities Sat Mar 25, 2023 12:18 pm

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රාජ්‍ය ආයතන 400ක් පුද්ගලීකරණයට.. IMF එකගතා ඇරඹේ…

ඉදිරියේදී රාජ්‍ය ආයතන හා හාරසියයක් පමණ ප‍්‍රතිව්‍යුහගත කිරීමට සිදුවනු ඇති බව මුදල් රාජ්‍ය ඇමැති රංජිත් සියඹලාපිටිය මහතා සඳහන් කරයි.

ජාත්‍යන්තර මුල්‍ය අරමුදල කොන්දේසි මත මෙන්ම මෙම පියවරයන් ගැනීමට සිදුවන බව ද හෙතෙම පවසයි.

එමෙන්ම ඉදිරියේදී කිහිපයක් ද හඳුන්වාදීමට නියමිත බවත් හෙතෙම කියා සිටී.

ශ්‍රී ලංකා රජය ජාත්‍යන්තර මූල්‍ය අරමුදල සමග සිදුකළ සාකච්ඡාවේදීද මෙම ප්‍රතිව්‍යුහගත කිරීම් සම්බන්ධයෙන් සාකච්ඡා වී ඇත.

රාජ්‍ය සතු ව්‍යවසායන් ප්‍රතිව්‍යුහගත කරන ඒකකයක් මුදල් අමාත්‍යාංශය යටතේ ස්ථාපිත කර ඇති අතර එම ඒකකය විසින් හඳුනා ගත් රාජ්‍ය ආයතන ප්‍රතිව්‍යුහගත කිරීම අදියර කිහිපයක් යටතේ සිදුකිරීමට නියමිතව තිබේ.

මෙහි පළමු අදියර යටතේ ශ්‍රී ලංකන් ගුවන් සමාගම, ලිත්‍රො ගෑස්, ටෙලිකොම් ඇතුළු ආයෙත් ආයතන හතක් ප්‍රතිව්‍යුහගත කිරීමට පසුගියදා කැබිනට් මණ්ඩල අනුමැතිය හිමි වී තිබිණි.

ව්‍යාපාර කිරීමෙන් ක‍්‍රමානුකූලව ඉවත් වීම මෙමගින් රජය බලාපොරොත්තු වෙයි.

https://lankacnews.com/%e0%b6%bb%e0%b7%8f%e0%b6%a2%e0%b7%8a%e0%b6%ba-%e0%b6%86%e0%b6%ba%e0%b6%ad%e0%b6%b1-120%e0%b6%9a%e0%b7%8a-%e0%b6%b4%e0%b7%94%e0%b6%af%e0%b7%8a%e0%b6%9c%e0%b6%bd%e0%b7%93%e0%b6%9a%e0%b6%bb/

K.R · 59 Re: Focus on Government controlled entities Tue Mar 28, 2023 7:39 am

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ECONOMYNEXT – Sri Lanka will adopt a competitive bidding process for asset sales and will shortly call for expressions of interest from transaction advisors to support the divestment program, the head of the state enterprise re-structuring unit Suresh Shah said.

https://economynext.com/sri-lanka-to-seek-competitive-bids-for-state-asset-sales-116643/

Ekanayake90 · 60 Re: Focus on Government controlled entities Tue Apr 04, 2023 1:55 pm

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SOEs to be Restructured (Lankadeepa)

https://sundaylankadeepa.pressreader.com/sunday-lankadeepa

Focus on Government controlled entities - Page 3 42304910

Focus on Government controlled entities - Page 3 82e9d710

ErangaDS · 61 Re: Focus on Government controlled entities Wed Apr 05, 2023 9:30 am

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Ekanayake90 wrote:SOEs to be Restructured (Lankadeepa)

https://sundaylankadeepa.pressreader.com/sunday-lankadeepa

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)

K.R · 62 Re: Focus on Government controlled entities Sat Apr 08, 2023 12:19 pm

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The Government of Sri Lanka Seeks Transaction Advisors To Assist In Divesting Selected State Owned Enterprises:

The Government of Sri Lanka (GoSL) is in the process of implementing deep economic reforms including in the State-Owned Enterprise (SOE) sector. Such reforms are intended to enhance competition, productivity and efficiency across the economy.

To implement SOE reforms, GOSL has set up the State-Owned Enterprise Restructuring Unit (SRU) under the Ministry of Finance, Economic Stabilization and National Policies (MoF). By Cabinet decision dated 13th March 2023, GoSL has mandated the SRU to divest an identified set of SOEs. To assist with such divestments, the SRU seeks to appoint reputed, qualified and experienced firms to provide transaction advisory services for the following entities

1. Sri Lanka Insurance Corporation Ltd
2. Canwill Holdings Pvt Ltd (Grand Hyatt Hotel)
3. Hotel Developers Lanka Ltd (Hilton Hotel Colombo)
4. Litro Gas Lanka Ltd including Litro Gas Terminals (Pvt) Ltd (LPG retailing)

https://www.treasury.gov.lk/web/sru/section/divestitures

K.R · 63 Re: Focus on Government controlled entities Sun Apr 09, 2023 11:23 am

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ErangaDS wrote:

Ekanayake90 wrote:SOEs to be Restructured (Lankadeepa)

https://sundaylankadeepa.pressreader.com/sunday-lankadeepa

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)

CSE - PINS , PLC , MBSL , HDFC
(Last 3 Months)
31/12/2022 06/04/2023 High:arrow_up: Low:arrow_down:

PINS Rs. 19.50 21.30 26.20 19
PLC Rs. 4.90 7.70 9.50 7.10
MBSL Rs. 3.10 3.50 4 3.40
HDFC Rs. 27.50 27.50 33.90 25

sheildskye · 64 Re: Focus on Government controlled entities Mon Apr 10, 2023 9:28 pm

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Safe approach would be to hold back investment plans until we get 1st quarter results. too much speculation right now. But on the other hand you might not get some counters at these prices. You might not know where the train you boarded may end up but what if it leads to a moutain of gold?

FOOD FOR THOUGHT

K.R · 65 Re: Focus on Government controlled entities Mon Apr 24, 2023 7:27 am

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Govt. extends deadline for transaction advisors’ EOIs for select SOE sale

https://www.ft.lk/front-page/Govt-extends-deadline-for-transaction-advisors-EOIs-for-select-SOE-sale/44-747642

ErangaDS · 66 Re: Focus on Government controlled entities Mon Apr 24, 2023 9:01 am

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ErangaDS wrote:

Ekanayake90 wrote:SOEs to be Restructured (Lankadeepa)

https://sundaylankadeepa.pressreader.com/sunday-lankadeepa

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)

SOE Restructuring Unit to hire transaction advisors

“We are working on the commercial SOEs, which are revenue-generating and for-profit entities, which is about 130 SOEs from the total of 400 SOEs,” he said.

He noted that some SOEs will get divested, some will remain within the government and the non-operational ones will probably get liquidated.

Shah added that the SOE restructuring unit will do a Sell-Side Due Diligence with the help of the transaction advisors, which will help to understand the pros and cons of each SOE along with assets and liabilities while the two parties will also do a valuation and create data rooms, allowing investors to access data freely to make an informed decision

“More complex entities will take longer (time for restructuring), less complex entities less time,” he said.

https://www.themorning.lk/articles/ke2yofcTz7o08ZWtLHHg

ErangaDS · 67 Re: Focus on Government controlled entities Tue May 02, 2023 4:08 pm

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CEB to be broken into 14 private enterprises – PUCSL

Norochcholai Coal Power Plant and all hydropower stations, including the Mahaweli and Luxapana hydropower stations, are among the state enterprises to be privatized.

https://www.newswire.lk/2023/05/02/ceb-to-be-broken-into-14-private-enterprises-pucsl/

ErangaDS · 68 Re: Focus on Government controlled entities Tue May 02, 2023 4:12 pm

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Sri Lanka Insurance units Litro Gas, Canwill to be ‘carved out’ before divestiture

ECONOMYNEXT – Units of state-run Sri Lanka Insurance including Litro Gas, Litro Terminals and Canwill Holdings will be ‘carved out’ before diverstiture, according to information given at a pre-bid meeting of prospective transaction advisors.

https://economynext.com/sri-lanka-insurance-units-litro-gas-canwill-to-be-carved-out-before-divestiture-119564/

Ekanayake90 · 69 Re: Focus on Government controlled entities Thu May 04, 2023 7:46 pm

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SriLanka government’s divestment strategy in state owned enterprises is likely to start in June with Lanka Hospital to go through first and Sri Lanka Telecom deal is expected to be finalized by June with a Japanese firm is interested.

Focus on Government controlled entities - Page 3 A8da0110

ErangaDS · 70 Re: Focus on Government controlled entities Mon May 08, 2023 8:44 am

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*CEO Richard Nuttall says Govt. wants to sell stake as quickly as possible
*Wants airlines to be privatised in a quarter of time

“We do know that the government wants to do it (privatisation) as fast as it can. We expect it to be in months, not years,” he added.
https://www.themorning.lk/articles/JFbPCRyHwPSo1Tqgq7dl

ErangaDS · 71 Re: Focus on Government controlled entities Mon May 08, 2023 8:46 am

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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)

K.R · 72 Re: Focus on Government controlled entities Sun May 14, 2023 10:51 am

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Process to begin in two months and be completed by year’s end

430 state institutions to be sold or restructured

The Finance Ministry has identified 430 state institutions, both loss- and profit-making institutions, for the proposed restructuring process.

The 430 entities consist of 39 corporations, 218 companies, and 173 statutory boards. The companies include 21 Regional Plantation Companies

Under the plan, some of the SOEs will be handed over to the private sector with a government regulator overseeing the process.

https://www.sundaytimes.lk/230514/news/430-state-institutions-to-be-sold-or-restructured-519640.html#:~:text=The%20Finance%20Ministry%20has%20identified,closed%20down%2C%20merged%20or%20restructured.

Focus on Government controlled entities - Page 3 20230510

GOSL · 73 Re: Focus on Government controlled entities Mon May 15, 2023 9:21 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)

EOIs will be called any day now.

ErangaDS · 74 Re: Focus on Government controlled entities Fri May 19, 2023 9:15 am

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Government shortlists advisors for sale of four SOEs

Sri Lanka Insurance Corporation are Asia Securities, Capital Alliance, Deloitte, PwC and CT CLSA.

For Hotel Developers, the shortlisted are Asia Securities, Capital Alliance, Platinum, Deloitte, and PwC.

For Canwill Holdings, the parties are Asia Securities, Capital Alliance, Platinum, Deloitte and PwC.

For Litro the shortlisted are Asia Securities, Capital Alliance, Platinum, Deloitte, PwC and NDB.
https://www.ft.lk/front-page/Government-shortlists-advisors-for-sale-of-four-SOEs/44-748458

ResearchMan · 75 Re: Focus on Government controlled entities Today at 1:56 pm

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Focus on companies which import commodity and other stuff to run their businesses.

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Focus on Government controlled entities

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