The Investor Sentiment - Equity and investments forum for Sri Lankans
Search
 
 

Display results as :
 


Rechercher Advanced Search

Latest topics
» Happy Birthday
Today at 9:04 am by කිත්සිරි ද සිල්වා

» Dividend Announcement
Today at 2:03 am by nihal123

» Should CSE be like this? Whose FAULT is it?
Yesterday at 5:05 pm by Ethical Trader

» සදහම් හඩ
Yesterday at 6:53 am by Ethical Trader

»  Woman finds frog parts in her packet of 'kottu'
Tue Jul 17, 2018 5:21 pm by Ethical Trader

» Debenture issues
Sat Jul 14, 2018 10:34 pm by Danidu

» Quick Checklist for Selecting a Stock
Sat Jul 14, 2018 11:42 am by slstock

» Hello and CSE ?
Fri Jul 13, 2018 10:05 am by slstock

» Films - To Watch List
Fri Jul 13, 2018 8:15 am by yellow knife

» කොටස් වෙළෙඳපොළේ ආයෝජනයේ දී දේශපාලන සබඳතා අනාවරණය අනිවාර්යයි
Thu Jul 12, 2018 9:02 pm by spw19721

» ගුහාවේ සිරවී සිටින දරුවන් පිටතට ගෙන්න මාස 04 ක් ගතවෙන ලකුණු
Wed Jul 11, 2018 7:43 am by serene

» කොළඹ කොටස් තවමත් අවුරුදු 8 කට කලින් තිබුණු තැනමයි
Wed Jul 11, 2018 7:37 am by serene

» 2018 ජූනි මාසයේ ඩොලර් මිලියන 434.53 කින් දී සංචිත වැඩි වුණේ මෙහෙමයි
Tue Jul 10, 2018 4:00 pm by Ethical Trader

» නිවාඩුවට රට යනවාටත් බද්දක්. සියලු වාහන හිමියන් බදු ගෙවිය යුතුයි – දේශීය ආදායම් කොමසාරිස්
Mon Jul 09, 2018 5:49 pm by Ethical Trader

» අනං මනං! #/+?.<>
Mon Jul 09, 2018 2:14 pm by yellow knife

» අටවන වරටත් ශ‍්‍රී ලංකාවේ හොඳම බැංකුව ලෙස ෆයිනෑන්ස් ඒෂියා කොමර්ෂල් බැංකුව තෝරාගනී July, 7, 2018
Mon Jul 09, 2018 11:53 am by nihal123

» ETI මිල දී ගන්නේ සිංගප්පූරු – ශ්‍රී ලංකා හවුල් සමාගමක්
Mon Jul 09, 2018 7:57 am by serene

» සුළු හා මධ්‍ය පරිමාණ ව්‍යවසායකයින් වෙනුවෙන් කොළඹ කොටස් වෙළෙඳපොළේ EMPOWER පුවරුව දියත් කෙරේ
Fri Jul 06, 2018 9:26 pm by Ethical Trader

» Sri raises fuel prices, future revisions weekly
Fri Jul 06, 2018 6:35 pm by Ethical Trader

» Sri Lanka holds rates, amid external jitters
Fri Jul 06, 2018 10:35 am by Ethical Trader

» Sri Lanka rupee weakens, stocks gain 1.22-pct
Fri Jul 06, 2018 10:34 am by Ethical Trader

» Sri Lanka's SMEs get chance to raise equity on liberalized board
Fri Jul 06, 2018 8:07 am by The Invisible

» Yahoo බිඳ වැටෙයි
Thu Jul 05, 2018 6:42 pm by Ethical Trader

» මුල් මාස 06 දී ලක්ෂ 11 ½ ක සංචාරකයින් ඇවිත්
Thu Jul 05, 2018 6:41 pm by Ethical Trader

» ධම්මික ශ්‍රී ලංකාවේ මුල් වරට Artificial Intelligence යොදා ගත් අධ්‍යක්ෂ මණ්ඩල රැස්වීමක් කැඳවයි
Thu Jul 05, 2018 8:01 am by serene

» තව වසර 3 කින් කොළඹ ඒක පුද්ගල ආදායම ඩොලර් 12,650 යි
Wed Jul 04, 2018 5:39 pm by Ethical Trader

» රාජපක්ෂ ආධාරකරුවන් ශ්‍රී ලංකාවේ මාධ්‍යවේදීන් බියවැද්දීම වැරදියි - New York Times
Tue Jul 03, 2018 5:32 pm by Ethical Trader

» කොමර්ෂල් බැංකුවට නව කළමනාකාර අධ්‍යක්ෂවරයෙකු සහ ප‍්‍රධාන මෙහෙයුම් නිලධාරියෙකු පත්කෙරේ
Tue Jul 03, 2018 5:27 pm by Ethical Trader

» Sri Lanka's ETI Finance able to settle small depositors if liquidated
Mon Jul 02, 2018 5:30 pm by Ethical Trader

» Cartoon of the day...
Sun Jul 01, 2018 9:10 pm by pee ratio

» උදයංග වීරතුංගට "ස්වේච්ඡාවෙන් ගමන් යන්න බැහැ"
Fri Jun 29, 2018 5:19 pm by Ethical Trader

» Sri Lanka s state hotel sales to go ahead next month: Finance Minister
Fri Jun 29, 2018 5:14 pm by Ethical Trader

» මාස 02 කදී කොටස් වෙළෙඳපොළ සියයට 4 කින් කඩා වැටිලා
Thu Jun 28, 2018 5:59 pm by Ethical Trader

» කොටස් වෙළෙඳපොළේ ආයෝජන ඉවත් කර ගැනීමට ජාතික ඉතිරිකිරීමේ බැංකුව යෝජනා කැඳවයි
Thu Jun 28, 2018 11:14 am by Ethical Trader

» සුරන්ගනීට මාලු ගෙනාවා - FIFA - Russia - 2018
Mon Jun 25, 2018 11:29 am by Ethical Trader

» Enterprise Sri Lanka to give extra credit support for women, disabled soldiers
Sun Jun 24, 2018 8:42 pm by sashimaal

» HUNA.N0000
Sat Jun 23, 2018 11:42 am by pjrngroup

» 2018 මැයි මස උද්ධමනය සියයට 2.1 ක් දක්වා ඉහළට
Sat Jun 23, 2018 8:31 am by Ethical Trader

» Laughter the Best Medicine
Fri Jun 22, 2018 8:11 pm by nihal123

» Sri Lanka is recovering, Central Bank threat looms: Bellwether
Fri Jun 22, 2018 10:20 am by The Invisible

» Sri Lanka's new forex law gets IMF thumps up
Fri Jun 22, 2018 10:16 am by The Invisible

» EU slaps tariffs on US as trade war erupts
Fri Jun 22, 2018 10:14 am by The Invisible

» Top monk asks Sri Lanka’s ex-defence chief to return as ‘Hitler’
Fri Jun 22, 2018 10:12 am by The Invisible

» May inflation at 2.1%
Fri Jun 22, 2018 2:06 am by sashimaal

»  මෙරට විශාලම ආයෝජනය වන හම්බන්තොට වරායේ අවසන් ආයෝජන මුදල වරාය අතට බාර දෙයි
Thu Jun 21, 2018 4:59 pm by Ethical Trader

» CCS.N0000 ( Ceylon Cold Stores)
Thu Jun 21, 2018 4:56 pm by Ethical Trader

» HHL.N0000 ( Hemas Holdings PLC)
Thu Jun 21, 2018 4:48 pm by Ethical Trader

» රුපියල තවදුරටත් පාවීමට ඉඩහැරිය යුතුයි - ජාත්‍යන්තර මූල්‍ය අරමුදල
Thu Jun 21, 2018 7:46 am by serene

» රජයේ සුරැකුම්වලින් රුපියල් බිලියන 2.7 ක විදෙස් ආයෝජන සතියක් තුළ දී ඉවතට
Wed Jun 20, 2018 9:11 am by serene

» ඩොලර් බිලියන 10 යි – මහ බැංකුව ඉතිහාසයේ වැඩිම විදේශ විනිමය සංචිතය ගොඩනගයි
Wed Jun 20, 2018 7:23 am by කිත්සිරි ද සිල්වා

July 2018
SunMonTueWedThuFriSat
1234567
891011121314
15161718192021
22232425262728
293031    

Calendar Calendar

Disclaimer


Information posted in this forum are entirely of the respective members' personal views. The views posted on this open online forum of contributors do not constitute a recommendation buy or sell. The site nor the connected parties will be responsible for the posts posted on the forum and will take best possible action to remove any unlawful or inappropriate posts.
All rights to articles of value authored by members posted on the forum belong to the respective authors. Re-using without the consent of the authors is prohibited. Due credit with links to original source should be given when quoting content from the forum.
This is an educational portal and not one that gives recommendations. Please obtain investment advises from a Registered Investment Advisor through a stock broker

H’tota port PPP signing next week

Go down

H’tota port PPP signing next week

Post by Backstage on Fri Oct 21, 2016 8:20 am

H’tota port PPP signing next week

Friday, 21 October 2016 00:01



Giving the strongest indication yet that Sri Lanka might be seeing light at the end of the debt tunnel, Finance Minister Ravi Karunanayake yesterday confirmed a viable Chinese partner had been found to forge a private-public partnership for the Hambantota port that would include transfer of debt and an agreement would be inked next week as well as the short-listing of four potential investors for SriLankan Airlines.

“We have found a viable partner to revive the Hambantota Port. A Chinese company has come forward to take 80% of the stake, while the balance will be with the Sri Lanka Ports Authority (SLPA),” Finance Minister Ravi Karunanayake told reporters at a special press briefing held at UNP headquarters ‘Sirikotha’.

He pointed out that this was a result of the efforts made by Prime Minister Ranil Wickremesinghe, adding that the Government is upbeat about the opportunities to resolve and turn around all outstanding ‘white elephant projects’ by the previous Government into economically viable ventures.

Building on the Prime Minister’s statements last week where he said a partner had been found for a debt-equity swap for the Mattala Airport, the Finance Minister said the inflow of funds from the Hambantota port would boost foreign reserves significantly,.

Karunanayake promised that the partnership would result in an inflow of $ 1,100 million worth of investment.

In addition, the Minister also revealed that the Government had shortlisted four major airline companies to revive debt-ridden national carrier SriLankan Airlines. “We received a total of 10 expression of interest (EOIs) where seven companies were selected and now we have shortlisted four. We will announce it in another two weeks’ time,” an upbeat minister said.

Private equity firm TPG and fund company BlackRock Inc were among half a dozen firms which have shown preliminary interest in a 49% stake in loss-making SriLankan Airlines, Reuters reported earlier this month.

Noting that Mihin Lanka employees had recently expressed distress over losing employment through the decision made to merge the two firms, Karunanayake explained that the decision was taken on the basis of pinning down the losses of the airlines.

“As a Government we want to create employment and not curtail it,” he added.

The Minister assured that the Appropriation Bill for 2017 was presented in “the true spirit of collaboration” after several rounds of meetings between President Maithripala Sirisena, Premier Ranil Wickremesinghe and himself. Karunanayake also assured that “there will be no amendments this time.”
Appropriation Bill presented in P’ment

Defense, healthcare, education, provincial councils and local govt. see reduction in allocations
President and PM funds increased significantly

Allocations for a number of key ministries, including those governing defence, healthcare, provincial councils and local government bodies, were reduced in the Appropriation Bill 2017 presented to Parliament yesterday, with education seeing a 58% reduction from Rs. 185.97 billion in the 2016 version to a proposed Rs. 76.94 billion this year.

Most notably, allocation for the Defence Ministry too recorded a marginal decrease for the first time since the war ended over seven years ago. Moving the motion, Finance Minister Ravi Karunanayake sought approval to raise and spend Rs. 1.819 trillion next year to meet the capital and recurrent expenses of the Government.

Among the key areas that saw an upsurge of funds were the allocations planned for the President and Prime Minister compared to considerable reductions in the allocations for defence, healthcare, education, provincial councils and local government bodies.

The allocation for the President doubled this year to Rs. 6.4 billion from Rs. 2.39 billion in 2016. However, this amount is still lower than the Rs. 8.7 billion allocated in the last Appropriation Bill presented by the administration of former President Mahinda Rajapaksa.

The allocation of funds for the Prime Minister also increased to Rs. 1.2 billion from Rs. 486.1 million this year. Apart from increased budgetary allocations for the President and Prime Minister, Appropriation Bill 2017 proposed increasing the allocations of the Ministry of Telecommunication and Digital Infrastructure to Rs. 2.4 billion compared to Rs. 423.8 million.

The defence budget has been brought down to Rs. 284.04 billion from Rs. 306 .6 billion, healthcare to Rs. 160.97 billion from Rs. 174.077 billion, and education to Rs. 76.94 billion from Rs. 185.97 billion.

Two weeks are given for any party to seek court intervention on the Appropriation Bill after which time the Finance Minister will present the Budget on 10 November. The Budget will then be debated in Parliament with a final vote expected on 10 December. (AH)


avatar
Backstage
Top contributor
Top contributor

Posts : 3275
Join date : 2014-02-24

Back to top Go down

Re: H’tota port PPP signing next week

Post by sashimaal on Fri Oct 21, 2016 9:02 am

Yes good news and will also reduce Govt from blaming everything on Hambanthota port / airport and Mihin.
avatar
sashimaal
Top contributor
Top contributor

Posts : 5655
Join date : 2014-02-28

Back to top Go down

Re: H’tota port PPP signing next week

Post by කිත්සිරි ද සිල්වා on Fri Oct 21, 2016 9:09 am

නැත්නම් හිගන්නාගේ තුවාලේ වගේ !
(ඉස්සර යුද්දේ, දැන් හම්බ-තොට)  Very Happy
sashimaal wrote:Yes good news and will also reduce Govt from blaming everything on Hambanthota port / airport and Mihin.
avatar
කිත්සිරි ද සිල්වා
Top contributor
Top contributor

Posts : 7285
Join date : 2014-02-23
Age : 60
Location : රජ්ගම

Back to top Go down

Re: H’tota port PPP signing next week

Post by sashimaal on Fri Oct 21, 2016 9:25 am

Razz

කිත්සිරි ද සිල්වා wrote:නැත්නම් හිගන්නාගේ තුවාලේ වගේ !
(ඉස්සර යුද්දේ, දැන් හම්බ-තොට)  Very Happy
sashimaal wrote:Yes good news and will also reduce Govt from blaming everything on Hambanthota port / airport and Mihin.
avatar
sashimaal
Top contributor
Top contributor

Posts : 5655
Join date : 2014-02-28

Back to top Go down

Re: H’tota port PPP signing next week

Post by 007 on Fri Oct 21, 2016 10:30 am

Backstage wrote:H’tota port PPP signing next week

Friday, 21 October 2016 00:01



Giving the strongest indication yet that Sri Lanka might be seeing light at the end of the debt tunnel, Finance Minister Ravi Karunanayake yesterday confirmed a viable Chinese partner had been found to forge a private-public partnership for the Hambantota port that would include transfer of debt and an agreement would be inked next week as well as the short-listing of four potential investors for SriLankan Airlines.  

“We have found a viable partner to revive the Hambantota Port. A Chinese company has come forward to take 80% of the stake, while the balance will be with the Sri Lanka Ports Authority (SLPA),” Finance Minister Ravi Karunanayake told reporters at a special press briefing held at UNP headquarters ‘Sirikotha’.

He pointed out that this was a result of the efforts made by Prime Minister Ranil Wickremesinghe, adding that the Government is upbeat about the opportunities to resolve and turn around all outstanding ‘white elephant projects’ by the previous Government into economically viable ventures.  

Building on the Prime Minister’s statements last week where he said a partner had been found for a debt-equity swap for the Mattala Airport, the Finance Minister said the inflow of funds from the Hambantota port would boost foreign reserves significantly,.

Karunanayake promised that the partnership would result in an inflow of $ 1,100 million worth of investment.

In addition, the Minister also revealed that the Government had shortlisted four major airline companies to revive debt-ridden national carrier SriLankan Airlines. “We received a total of 10 expression of interest (EOIs) where seven companies were selected and now we have shortlisted four. We will announce it in another two weeks’ time,” an upbeat minister said.

Private equity firm TPG and fund company BlackRock Inc were among half a dozen firms which have shown preliminary interest in a 49% stake in loss-making SriLankan Airlines, Reuters reported earlier this month.

Noting that Mihin Lanka employees had recently expressed distress over losing employment through the decision made to merge the two firms, Karunanayake explained that the decision was taken on the basis of pinning down the losses of the airlines.

“As a Government we want to create employment and not curtail it,” he added.

The Minister assured that the Appropriation Bill for 2017 was presented in “the true spirit of collaboration” after several rounds of meetings between President Maithripala Sirisena, Premier Ranil Wickremesinghe and himself. Karunanayake also assured that “there will be no amendments this time.”
Appropriation Bill presented in P’ment

   Defense, healthcare, education, provincial councils and local govt. see reduction in allocations
   President and PM funds increased significantly  

Allocations for a number of key ministries, including those governing defence, healthcare, provincial councils and local government bodies, were reduced in the Appropriation Bill 2017 presented to Parliament yesterday, with education seeing a 58% reduction from Rs. 185.97 billion in the 2016 version to a proposed Rs. 76.94 billion this year.

Most notably, allocation for the Defence Ministry too recorded a marginal decrease for the first time since the war ended over seven years ago. Moving the motion, Finance Minister Ravi Karunanayake sought approval to raise and spend Rs. 1.819 trillion next year to meet the capital and recurrent expenses of the Government.

Among the key areas that saw an upsurge of funds were the allocations planned for the President and Prime Minister compared to considerable reductions in the allocations for defence, healthcare, education, provincial councils and local government bodies.

The allocation for the President doubled this year to Rs. 6.4 billion from Rs. 2.39 billion in 2016. However, this amount is still lower than the Rs. 8.7 billion allocated in the last Appropriation Bill presented by the administration of former President Mahinda Rajapaksa.  

The allocation of funds for the Prime Minister also increased to Rs. 1.2 billion from Rs. 486.1 million this year. Apart from increased budgetary allocations for the President and Prime Minister, Appropriation Bill 2017 proposed increasing the allocations of the Ministry of Telecommunication and Digital Infrastructure to Rs. 2.4 billion compared to Rs. 423.8 million.

The defence budget has been brought down to Rs. 284.04 billion from Rs. 306 .6 billion, healthcare to Rs. 160.97 billion from Rs. 174.077 billion, and education to Rs. 76.94 billion from Rs. 185.97 billion.

Two weeks are given for any party to seek court intervention on the Appropriation Bill after which time the Finance Minister will present the Budget on 10 November. The Budget will then be debated in Parliament with a final vote expected on 10 December. (AH)



This news can be a game changer for the time being but still a lot of uncertainty needs to be addressed
avatar
007

Posts : 159
Join date : 2014-11-29

Back to top Go down

Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum