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+4
HUNTER
HAL9000
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sashimaal
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    SLIC to exit ‘Apollo’

    sashimaal
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    • Post n°1

    SLIC to exit ‘Apollo’ Empty SLIC to exit ‘Apollo’

    Post by sashimaal Tue Nov 10, 2015 4:45 pm

    Ceylon Finance Today: State-owned Sri Lanka Insurance Corporation Ltd (SLIC) soon will divest its controlling stake of Lanka Hospitals Corporation PLC, government sources on Friday (06) confirmed to Ceylon FT.

    Both SLIC's Life and General funds have a controlling stake of 54.4% of Lanka Hospitals Corporation (formerly Apollo Hospitals) shares.
    Sources said that SLIC has so far received several unsolicited bids from leading local private hospital groups and foreign investors.

    "Bids were from Rs 63 and upwards per share," they said. The company's shares closed, up 1.67% to Rs 54.90 a share on Friday. It's however understood that the Government/SLIC will divest its stake to the highest bidder after calling for tenders.
    Among those who had evinced interest in the hospital were Hemas, Nawaloka and Asiri, it's learnt.


    The government is also planning to appoint new members to the SLIC's Director Board. According to unconfirmed reports, SLIC's controversial Managing Director T.M.R.Bangsa Jayaha will be replaced by 'Maganeguma', Chairman Keith Bernard.
    Speaking to Ceylon FT, SLIC Chairman Hemaka Amarasuriya said that he was unaware about such decisions taken by top government hierarchies. Nonetheless, he said that he too was expecting a board reshuffle.


    "There may be some changes," he added.
    Unveiling the government's economic policy framework......in Parliament on Thursday (5), Premier Ranil Wickremesinghe said that the government will take steps to sell the shares of State Ventures such as hotels and Lanka Hospitals, as they do not match the core competencies of State owner enterprises.

    https://www.ceylontoday.lk/22-108742-ne ... pollo.html
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    • Post n°2

    SLIC to exit ‘Apollo’ Empty Re: SLIC to exit ‘Apollo’

    Post by Defender Tue Nov 10, 2015 6:41 pm

    Thanks.
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    HAL9000
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    • Post n°3

    SLIC to exit ‘Apollo’ Empty Re: SLIC to exit ‘Apollo’

    Post by HAL9000 Tue Nov 10, 2015 8:12 pm

    Good development specially regarding SLIC director board
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    HUNTER
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    • Post n°4

    SLIC to exit ‘Apollo’ Empty Re: SLIC to exit ‘Apollo’

    Post by HUNTER Wed Nov 11, 2015 2:09 pm

    Good opportunity in LHCL.N trading set up.

    Looks like it will well pass the said bid price within this week.
    • Back to top
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    • Post n°5

    SLIC to exit ‘Apollo’ Empty Re: SLIC to exit ‘Apollo’

    Post by First Guy Thu Nov 12, 2015 6:52 am

    HUNTER wrote:Good opportunity in LHCL.N trading set up.

    Looks like it will well pass the said bid price within this week.

    What is the 'said bid price' ?
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    • Post n°6

    SLIC to exit ‘Apollo’ Empty Re: SLIC to exit ‘Apollo’

    Post by HUNTER Thu Nov 12, 2015 7:49 am

    First Guy wrote:
    HUNTER wrote:Good opportunity in LHCL.N trading set up.

    Looks like it will well pass the said bid price within this week.

    What is the 'said bid price' ?

    ......
    "Bids were from Rs 63 and upwards per share," they said.
    .......
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    • Post n°7

    SLIC to exit ‘Apollo’ Empty Re: SLIC to exit ‘Apollo’

    Post by Market lover Thu Nov 12, 2015 10:49 am

    HUNTER wrote:
    First Guy wrote:
    HUNTER wrote:Good opportunity in LHCL.N trading set up.

    Looks like it will well pass the said bid price within this week.

    What is the 'said bid price' ?

    ......
    "Bids were from Rs 63 and upwards per share," they said.
    .......


    Gd Very Happy
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    • Post n°8

    SLIC to exit ‘Apollo’ Empty Re: SLIC to exit ‘Apollo’

    Post by sashimaal Thu Nov 12, 2015 5:32 pm

    http://www.cse.lk/cmt/upload_report_file/516_1447318968906.xls.pdf

    Very good performance. However prices have adjusted with the recent move.
    • Back to top
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    • Post n°9

    SLIC to exit ‘Apollo’ Empty Re: SLIC to exit ‘Apollo’

    Post by First Guy Fri Nov 13, 2015 6:25 am

    Why is this holding considered non strategic? Doesn't SLIC have a different objective of building its funds?

    LHCL has a huge cash pile.
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    • Post n°10

    SLIC to exit ‘Apollo’ Empty Softlogic keen to buy govt’s LHCL shares

    Post by sashimaal Sun Dec 06, 2015 6:32 pm

    Softlogic keen to buy govt’s LHCL shares

    By Duruthu Edirimuni Chandrasekera


    The Softlogic Group has followed on the heels of the Hemas Group’s interest in buying shares in Lanka Hospitals Corporation PLC (LHCL), should the government decide to divest these shares, saying that they too are interested, Softlogic officials said. “We have also expressed our intent in pursuing such an opportunity (to the government),” a Softlogic official told the Business Times. He said it’s a lucrative opportunity for the group which has controls in Asiri Hospital Holdings PLC (Asiri), Asiri Surgical and The Central Hospital and is the largest listed private hospital group in Sri Lanka in terms of revenue and profits.

    Hemas in an announcement to the Colombo Stock Exchange (CSE) said that as a group it has been exploring opportunities in the sectors that they operate in. “We noted the interest expressed by the Government in disposing of shares in ventures such as LHCL. We have therefore, expressed our interest in pursuing this opportunity once the government initiates the official process,” it said. This came on the back of Finance Minister Ravi Karunanayake delivering the 2016 budget in parliament saying that the government is keen to streamline its portfolio of investments and will therefore exit partially or fully from those non-strategic investments in Lanka Hospitals, Hotel Developers PLC (Colombo Hilton), Hyatt Residencies, Waters Edge, Grand Oriental Hotel, Ceylinco Hospital and Mobitel by listing such investments in the Colombo Stock Exchange during 2016.

    “We have been in the healthcare sector for a number of years as an innovative leader and have won the hearts and minds of our customers. We are confident of our ability to contribute significantly to the Sri Lankan healthcare services,” the Hemas announcement added.LHCL, previously Apollo Hospitals Colombo is now indirectly owned by the government with the state owned Sri Lanka Insurance Corporation holding 54.61per cent stake. LHCL currently operates with a bed capacity of 240 beds and is at around 90 per cent occupancy, but further increases in competitor capacity expansions could negatively affect LHCL’s margins, according to analysts.

    According to data provided by the Central Bank of Sri Lanka, the public sector accounted for 73per cent of the hospitals and 93per cent of the available bed capacity in Sri Lanka, while handling over 90 per cent of the total patient admissions and outpatient visits to hospitals as of end 2014.In the private sector, the top five players – the Dr Neville Fernando Teaching Hospital (NFTH), Asiri, Nawaloka Hospitals PLC (Nawaloka), Durdans Hospitals (Durdans) and The Lanka Hospitals – accounted for nearly 45per cent of the private-sector bed capacity at-end 2014, with NFTH the market leader with 1,002 beds.

    http://www.sundaytimes.lk/151206/busine ... 73958.html
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    • Post n°11

    SLIC to exit ‘Apollo’ Empty Re: SLIC to exit ‘Apollo’

    Post by pjrngroup Sun Dec 06, 2015 7:22 pm

    ECONOMYNEXT – Sri Lanka’s Hemas Holdings, which is expanding is health business, said it is interested in buying into Lanka Hospitals Corporation PLC if the government sells its stake.

    “Hemas as a group has been exploring opportunities in the sectors that we operate in,” the company said in a stock exchange filing.

    “We noted the interest expressed by the government in disposing of shares in ventures such as Lanka Hospitals Corporation PLC. We have therefore, expressed our interest in pursuing this opportunity once the government initiates the official process.”

    The new government has announced its intention of reducing state involvement in business and selling off government-owned enterprises.

    Hemas Holding said it was “ confident of our ability to contribute significantly to the Sri Lankan healthcare services.”
    (Colombo/December 04 2015)
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    • Post n°12

    SLIC to exit ‘Apollo’ Empty Re: SLIC to exit ‘Apollo’

    Post by කිත්සිරි ද සිල්වා Sun Dec 06, 2015 7:59 pm

    Interesting question ?  Shocked
    (Another NO LIMIT in the making if Hemas takes over). Shocked
    First Guy wrote:Why is this holding considered non strategic? Doesn't SLIC have a different objective of building its funds?
    LHCL has a huge cash pile.
    • Back to top

      Current date/time is Fri Nov 08, 2024 3:30 am