It can be balanced...
40% attendance, 60% to exam results will probably be much better.
No exams because attendance is not reached, is too much like
Singapore. And it kills the interest to learn.
If one attends lessons faithfully, it isn't too hard to score well
in exams and if they didn't do well, the 40% attendance will help
to pull the results up. At least hard work is not gone into
drain.