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Saturday March 2nd, 2024

Sri Lanka reschedules long-delayed grade 5 scholarship, O/Level, A/Level exams

ECONOMYNEXT – Sri Lanka has rescheduled the country’s long-delayed grade 5 scholarship, GCE ordinary level and advanced level exams for early-to-mid 2022 to allow students more time to prepare, a cabinet statement said.

COVID-19 lockdowns resulted in the closure of public schools since April 27. After a six-month hiatus, schools were fully opened for students up to grade 5 on October 25. Classes for General Certificate of Education (GCE) Ordinary Level and Advanced Level students will recommence on November 08, officials said.

“Students who are scheduled to sit for the examinations should be given sufficient time to complete their studies after the opening of the schools,” a cabinet paper published on November 01 noted.

“Taking these factors into consideration, the Cabinet of Ministers agreed to the revised schedule for conducting the scheduled examinations for the year 2021 submitted by the Minister of Education.”

As per the cabinet statement, grade 5 scholarship exams are to be held on January 22, 2022, while GCE A/Levels will be held from February 07 to March 05, 2022, and the O/Levels will be held from May 23 to June 1, 2022.

The grade 5 scholarship and the A/Level exams were previously scheduled to commence on November 14 and 15 this year, but were postponed in early October indefinitely to allow time for their syllabi to be covered.

The highly competitive grade 5 scholarship exam is usually held at the end of the primary grade (grade 5) in most state schools in the country and allows students to transfer to “better” or more privileged schools, based on a system of cut-off marks.

The A/L exam, meanwhile, is usually held in the month of August for grade 13 students. Passing A/Ls is a general requirement to enter a Sri Lankan state university. (Colombo/Nov02/2021)

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  1. Ashani Navodya says:

    good

  2. Nahla says:

    Mohomed nahlan

  3. Sara rameez says:

    49 ketawala mulla lane

  4. Sara rameez says:

    49 ketawala mulla lane dematagoda

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  1. Ashani Navodya says:

    good

  2. Nahla says:

    Mohomed nahlan

  3. Sara rameez says:

    49 ketawala mulla lane

  4. Sara rameez says:

    49 ketawala mulla lane dematagoda

Sri Lanka eyes SOE law by May 2024 for better governance

ECONOMYNEXT – Sri Lanka is planning to pass a Public Commercial Business (PCB) Act improve governance of state-owned enterprise by May 2024 as part of an anti-corruption efforts following an International Monetary Fund assessment.

Sri Lanka’s state enterprises have been used by politicians to give ‘jobs of the boys’, appropriate vehicles for personal use, fill board of directors and key positions with henchmen and relatives, according to critics.

Meanwhile macro-economists working for the state also used them to give off-budget subsides or made energy utilities in particular borrow through supplier’s credits and state banks after forex shortages are triggered through inflationary rate cuts.

The government has taken billons of dollars of loans given to Ceylon Petroleum Corporation from state banks.

There have also been high profile procurement scandals connected to SOEs.

An SOE Reform Policy was approved by Sri Lanka’s cabinet of ministers in May 2023.

The Public Commercial Business (PCB) Act has now been drafted.

A holding company to own the SOEs will be incorporated and an Advisory Committee and Board of Directors will be appointed after the PCB law is approved, the statement said. (Colombo/Mar01/2024)

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Sri Lanka rupee closes at 308.80/90 to the US dollar

ECONOMYNEXT – Sri Lanka’s rupee closed at 308.80/90 to the US dollar Friday, from 309.50/70 on Thursday, dealers said.

Bond yields were broadly steady.

A bond maturing on 01.02.2026 closed at 10.65/75 percent up from 10.50/70 percent.

A bond maturing on 15.09.2027 closed at 11.90/12.05 percent from 11.90/12.10 percent.

A bond maturing on 01.07.2028 closed at 12.15/35 percent down from 12.20/25 percent.

A bond maturing on 15.07.2029 closed at 12.25/40 percent up from 12.30/45 percent.

A bond maturing on 15.05.2030 closed at 12.30/45 percent down from 12.35/50 percent.

A bond maturing on 01.07.2032 closed at 12.50/13.00 percent from 12.55/13.00 percent. (Colombo/Mar1/2024)

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Sri Lanka stocks close up 0.37-pct, Expo to de-list

ECONOMYNEXT – The Colombo Stock Exchange closed up 0.37 percent on Friday, and SG Holdings, the parent company of Expolanka Holdings Plc, said it was taking the company private.

Expolanka is the largest listed company on the Colombo Stock Exchange.

“Expolanka Holdings PLC has, at the Board Meeting held on 1st March 2024, considered a request from its principal shareholder and resolved to initiate the de-listing of the Company’s shares from the Official List of the Colombo Stock Exchange subject to obtaining necessary shareholder approval and regulatory approvals,” the company said in a stock exchange filing.

As per arrangements with SG Holdings Global Pte Ltd, the Company’s majority shareholder, it will purchase its shares from shareholders who may wish to divest their shareholding in the Company at a purchase price of Rs 185.00 per share. The share closed up at 150.50.

The broader All Share Index closed up 0.37 percent, or 39.47 points, at 10,691; while the S&P SL20 Index closed down 0.64 percent, or 19.59 points, at 3,037.

Turnover stayed above the 1 billion mark for the sixth consecutive day, registering 1.4 billion.

Crossings in Melstarcorp Plc (135mn) up at 89.50, Hatton National Bank Plc (64mn) up at 158.00, Hemas Holdings Plc (53mn) up at 75.00 and Central Finance Company Plc (26mn) up at 103.50, added significantly to the day’s turnover.

“The upward trend is continuing, with more retail buying also coming in, the number of trades was more than 10,000 today,” a market participant said. “Investors are looking for undervalued stocks and buying in quantities.” (Colombo/Mar1/2024).

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