The Investor Sentiment - Equity and investments forum for Sri Lankans
The Investor Sentiment - Equity and investments forum for Sri Lankans
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Please send an email to contact.lankaninvestor@gmail.com if you face any technical difficulties when posting
Search
Display results as :
Advanced Search
Latest topics
Coronavirus UpdatesWed Jan 20, 2021 9:06 pmThe Invisible
ACL CablesWed Dec 30, 2020 7:22 pmsubash
Merry Christmas to AllTue Dec 29, 2020 4:53 pmchutiputha
Trading Journal Sat Dec 12, 2020 11:33 pmxmart
HVA FoodsFri Dec 04, 2020 10:25 amThe Invisible
Tokyo CementMon Nov 23, 2020 9:42 amRajapaksap
Insider Dealings Fri Nov 20, 2020 2:30 ampjrngroup
UML United MotorsTue Nov 10, 2020 8:50 amThe Invisible
ExpolankaMon Nov 09, 2020 8:46 pmsmallville
Plantation Sector UpdatesSat Nov 07, 2020 8:15 amRajapaksap
HAYC - HaycarbFri Nov 06, 2020 12:11 pmsubash
LWL.N0000 (Lanka Walltiles PLC)Fri Oct 16, 2020 12:50 amsubash
CSE Daylight Robbery !Mon Sep 21, 2020 9:54 pmYin-Yang
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

Go down
sashimaal
sashimaal
Top contributor
Top contributor
Posts : 5785
Join date : 2014-02-28

Sri Lanka s state hotel sales to go ahead next month: Finance Minister Empty Sri Lanka s state hotel sales to go ahead next month: Finance Minister

on Fri Jun 29, 2018 12:30 pm
Message reputation : 100% (2 votes)
Jun 29, 2018 10:02 AM GMT+0530 | 0 Comment(s)
ECONOMYNEXT- Sri Lanka’s is expecting to sell the owning company of Colombo Hilton and another partially completed building where a Hyatt is expected to be housed within the next month, Finance Minister Mangala Samaraweera said.

“We’re hoping, especially the Hilton and the Hyatt, will be privatised within the next month, Finance Minister MangalaSamaraweera said.

The government had initially announced plans to sell the two, along with five other non-strategic state-owned enterprises, under the 2016 and 2017 budgets.

However, the process of privatisation had faced delays, Samaraweera said.

“The divesture of non-strategic state-owned assets has taken longer than expected, but this process is being fast tracked, and we expect to see results soon,” Samaraweera said.

“This will raise finances for the Treasury, and more importantly will create space for private enterprise to drive these sectors.”

Sri Lanka had sought investment advisors to market the properties among prospective investors.

The holding company of the 350 room Hilton Colombo posted Rs. 9.5 million in net profits for the first quarter of 2018, down from 32.3 million rupees a year earlier.

However, it has accumulated 6.6 billion rupees in losses. Hotel Developers (Lanka) has 15.3 billion rupees in assets, and a net asset per share of 6.87 rupees.

The government had said will sell 51 percent of the shares Hotel Developers on an ‘all or nothing’ basis through the Colombo Stock Exchange (CSE).

The remaining shares will be offered to the public through the CSE after allocating some shares to employees.

The shares of Canwill Holdings (Pvt) Ltd, which owns the Hyatt, would be sold in a similar manner, the government had said. (Colombo/June29/2018)
Ethical Trader
Ethical Trader
Top contributor
Top contributor
Posts : 5567
Join date : 2014-02-28

Sri Lanka s state hotel sales to go ahead next month: Finance Minister Empty Re: Sri Lanka s state hotel sales to go ahead next month: Finance Minister

on Fri Jun 29, 2018 5:14 pm
Good move.
Back to top
Permissions in this forum:
You cannot reply to topics in this forum