The new list keeps the 40 percent foreign equity cap
on public utilities but adds a new exception that covers 'power generation and the supply of electricity to the contestable market.'
The equity cap
restriction of 10 per cent and also the condition of 60 per cent of the group's income coming from financial services are dampeners.
The Insurance Laws (Amendment) Ordinance, 2014, was promulgated enhancing the foreign equity cap
from 26 percent to 49 percent while safeguarding Indian ownership and control.
Higher foreign equity cap
will help insurance companies get more capital, say experts.
The Japanese giant is also said to be keen to hike its stake in Reliance Life Insurance venture to 49 percent from 26 percent, as and when India notifies the decision of higher foreign equity cap
in the sector and comes up with the norms.
Just Retirement Group Yr to Jun 30 PS186.70m (+PS92.10m) 2.20p (+2.20p) KierGroup Yr to Jun 30 PS73.10m (+PS25.50m) 72.00p (+4.00p) Petra Diamonds Yr to Jun 30 US$124.40m (+$50.40m) nil (u/c) Sinclair IS Pharma Yr to Jun 30 -PS1.07m (-PS0.85m) n/av Strategic Equity Cap
Yr to Jun 30 PS29.40m (+PS12.99m) 0.78p (-0.72p) Thorpe Yr to Jun 30 PS12.4m (+PS0.9m) 3.25p (+0.25p) Wilmington Group Yr to Jun 30 PS8.59m (+PS3.48m) 7.30p (+0.30p) NOTE: List is not necessarily comprehensive as companies are not obliged to notify the Stock Exchange of imminent announcements
The European Service Forum (ESF), which represents the service industry in Brussels, is working in close contact with DG Trade to amend the equity cap
imposed by South-East Asia's second most populated market.
INSURANCE LAWS ( AMENDMENT) BILL: It seeks to raise the foreign equity cap
in insurance companies from 26% to 49%
Such a comparison is incorrect and would be equivalent to comparing an equity cap
rate to an overall cap rate.
Free and Clear Equity Cap
Rate in the Korpacz Survey.
If Qantas buys 20 per cent of MAS, the foreign shareholding in MAS will rise to 36.57 per cent, still below the new equity cap
of 45 per cent approved by the government recently.