Some Interesting Facts on CITK

[harieshaTop contributor]

I hope to publish some interesting facts on CITK under this thread. I opened a new thread because I feel Sapumal's heading is not appropriate and even not tally with his ideas. No objections if admins merged this one with Sapumal's one with a more appropriate heading.

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[chinwiTop contributor]

That means we can continue in collecting CITK by watching the movements of CLND ? (as we do normally)

[sapumal]

I agree with this. The title I used is much unfair for CITK share. It is a very undervalued share.

[The AlchemistTop contributor]

Thanks for starting this thread Hariesha. I am trying to figure out the best option in this cluster of companies i.e. REEF N, REEF W, CITK or CLND. From these, i have narrowed it down to either CITK or REEF W. 

But they both seem mutually exclusive ? i.e. if and when CLND price re-rates and CITK  sells at profit, CITK will re-rate and have the requisite funds for their development. however, this may lessen the need for the REEF W conversion, although CITW is Rs 1.5 bill in debt. 
The other scenario if CITK Project is not going to get underway soon as expected, is after CITK sells CLND stake, they merge with REEF by perhaps buying / exercising the REEF W. ? 

Chinwi / Hareisha, what is your opinion on these ? what is the best option to invest say Rs 1 Million ?

[harieshaTop contributor]

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[harieshaTop contributor]

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[stocks hunterTop contributor]

hariesha,

Really appreciate your hard work here. Now can you guess what is going to happen?

*Still they have no hotel.
*They have no money to build the hotel.
*Without doing anything there are at a loss coz of CLND investment.
*Still your are telling us to keep the share with us.
*And still top 20 is growing.
*Share price is well maintained at Rs5.00 -5.50 levels and above - some body keep on purchasing.
*Why is that?
*There loss investment can turn to be a profitable one in overnight.
*If that happens they have much needed money to build the hotel.
*But how - Only way by selling CLND around Rs75 range. Will it happen?
*Most probably it may happen in future. That's what my friend is trying to tell us................ by doing all these hardworks by himself.

[NuinthTop contributor]

This post/topic will be a high valuable for CITK & other REEF holders & future buyers. Contributors are talking with facts. Good discussion.

Good luck.

[chinwiTop contributor]

I couldn't find the exact place they selected for the project. In general I think Kalpitiya has become an off the track place for hotel industry.
Apart from those islets forming 'another worlds'  in crystal clear waters the peninsula is not that attractive.
You can't breath rotten smell from the lagoon side and can find rough see with high tides in the other side. No long beach, the ocean become so deeper within few meters.  

No one will buy the villas when they see and smell the lagoon with stagnant dark colored water  and  see the rough see.
In addition, Keravalapitiya 900MW coal power station is located in the peninsula.

Hence, I think they will/should either relocate the project to a completely new , attractive place or abandon it.

The land could be converted into something like eco farm if no buyers  .  

CITK has 40,413.200 of CLND.
-The only reason for this interest for CITK.

If CLND gets few acres in Pettah then the entire picture will be changed. Due to the recent activities we tend to hope it will be materialized within 2015.

Then CITK may find a buyer to sell CLND @ 75/- or even higher .

@ 75/- they will get 3 billion. Current booked cost 1.3 b.
i.e. EPS of 10/- for CITK and AVPS will reach 18/-
I am happy even with 50/- ,  get 2 billion and start new project or combine with CITW/REEF to ease their debt.

[sapumal]

Please let us know AGM updates

[BackstageTop contributor]

I couldn't find the exact place they selected for the project. In general I think Kalpitiya has become an off the track place for hotel industry.
Apart from those islets forming 'another worlds'  in crystal clear waters the peninsula is not that attractive.
You can't breath rotten smell from the lagoon side and can find rough see with high tides in the other side. No long beach, the ocean become so deeper within few meters.  

No one will buy the villas when they see and smell the lagoon with stagnant dark colored water  and  see the rough see.
In addition, Keravalapitiya 900MW coal power station is located in the peninsula.

Hence, I think they will/should either relocate the project to a completely new , attractive place or abandon it.

The land could be converted into something like eco farm if no buyers  .  

CITK has 40,413.200 of CLND.
-The only reason for this interest for CITK.

If CLND gets few acres in Pettah then the entire picture will be changed. Due to the recent activities we tend to hope it will be materialized within 2015.

Then CITK may find a buyer to sell CLND @ 75/- or even higher .

@ 75/- they will get 3 billion. Current booked cost 1.3 b.
i.e. EPS of 10/- for CITK and AVPS will reach 18/-
I am happy even with 50/- ,  get 2 billion and start new project or combine with CITW/REEF to ease their debt.

Chinwi, I have spent a lot of time in Wanathavillu on the other side of the lake(not recently though) and the lagoon was always fabulous, no smell, shallow waters where you could walk for long distance from shore, only negative was ,you have to protect feet as the bottom is all broken corral. We used to camp for days and no theives, you could leave anything outside and would be untouched. Very hospitable people and fabulous sea food.

[jiggysaurusTop contributor]

You can't breath rotten smell from the lagoon side and can find rough see with high tides in the other side. No long beach, the ocean become so deeper within few meters.  

No one will buy the villas when they see and smell the lagoon with stagnant dark colored water  and  see the rough see.
In addition, Keravalapitiya 900MW coal power station is located in the peninsula.

If CLND gets few acres in Pettah then the entire picture will be changed. Due to the recent activities we tend to hope it will be materialized within 2015.

Will the less powerful disc jockey manage to get the land even in 2015? So many years have gone and CITK inventers are still talking about the CLND shares that DJ dumped on CITK at a massive profit.
The really powerful peeples in Sri-Lanka can sort out a land problem with one phone call. Disc Jockiya can't buy a land without getting into legal problems and he takes years to sort out CLND land issue.
DJ not that powerful?

[BackstageTop contributor]

You can't breath rotten smell from the lagoon side and can find rough see with high tides in the other side. No long beach, the ocean become so deeper within few meters.  

No one will buy the villas when they see and smell the lagoon with stagnant dark colored water  and  see the rough see.
In addition, Keravalapitiya 900MW coal power station is located in the peninsula.

If CLND gets few acres in Pettah then the entire picture will be changed. Due to the recent activities we tend to hope it will be materialized within 2015.

Will the less powerful disc jockey manage to get the land even in 2015?  So many years have gone and CITK inventers are still talking about the CLND shares that DJ dumped on CITK at a massive profit.
The really powerful peeples in Sri-Lanka can sort out a land problem with one phone call. Disc Jockiya can't buy a land without getting into legal problems and he takes years to sort out CLND land issue.
DJ not that powerful?

But he got his man into SEC and he's got the likes of sudu putha and brother holding stakes in his companies. And his services might be needed for election spin.

[chinwiTop contributor]

Chinwi, I have spent a lot of time in Wanathavillu on the other side of the lake(not recently though) and the lagoon was always fabulous, no smell, shallow waters where you could walk for long distance from shore, only negative was ,you have to protect feet as the bottom is all broken corral. We used to camp for days and no theives, you could leave anything outside and would be untouched. Very hospitable people and fabulous sea food.

Actually I have no idea about the exact place selected by CITK.

I think the area you described is in parallel with islets in Battalan gundu - dutch bay- above the upper tip of the Puttam lagoon. That area get good sea water, marine life and everything you said was correct.

Kalpitiya lagoon is a smaller wet area at the left side to Kalpitiya town. I have not scan all the places. I didn't like the place I visited. There were few resorts, Divya ,Seethawadiya and De silva etc.

[HAL9000Top contributor]

You can't breath rotten smell from the lagoon side and can find rough see with high tides in the other side. No long beach, the ocean become so deeper within few meters.  

No one will buy the villas when they see and smell the lagoon with stagnant dark colored water  and  see the rough see.
In addition, Keravalapitiya 900MW coal power station is located in the peninsula.

If CLND gets few acres in Pettah then the entire picture will be changed. Due to the recent activities we tend to hope it will be materialized within 2015.

Will the less powerful disc jockey manage to get the land even in 2015?  So many years have gone and CITK inventers are still talking about the CLND shares that DJ dumped on CITK at a massive profit.
The really powerful peeples in Sri-Lanka can sort out a land problem with one phone call. Disc Jockiya can't buy a land without getting into legal problems and he takes years to sort out CLND land issue.
DJ not that powerful?

Do not undermine DJ. He will be one of the most wanted one for current regime sooner than later. Reason;Presidential election is coming. Check who handled the successful propaganda and media campaign for current regime over the years. He has a job to do, and if successful get many lands for free even

[BackstageTop contributor]

Chinwi, I have spent a lot of time in Wanathavillu on the other side of the lake(not recently though) and the lagoon was always fabulous, no smell, shallow waters where you could walk for long distance from shore, only negative was ,you have to protect feet as the bottom is all broken corral. We used to camp for days and no theives, you could leave anything outside and would be untouched. Very hospitable people and fabulous sea food.

Actually I have no idea about the exact place selected by CITK.

I think the area you described is in parallel with islets in Battalan gundu - dutch bay-   above the upper tip of the Puttam lagoon.  That area get good sea water, marine life and everything you said was correct.

Kalpitiya lagoon is a smaller wet area at the left side to Kalpitiya town. I have not scan all the places. I didn't like the place I visited. There were few resorts,  Divya ,Seethawadiya and De silva etc.
 

Wanathavillu is south of Dutch bay, a little south of Karaitivu and yes close to the sea. Am not familiar with the Kalpitiya area and the southern side of lagoon. I have heard that the real wealth of Kalpitiya is underground. It is supposed to have the largest underground reservoir of fresh water in south asia. It has enough fresh water to supply the whole of Sri Lanka for many years. Due to tube wells and agricultural chemicals , this gift from the earth is already under threat. What the sewage from the proposed resorts would do is obvious, unless environmental standards are maintained. (very unlikely). This water is supposed to be very close to the surface and in most of the islands including Battalangundu you just dig a bit into the sand and get water. If you want to tour the islets, the prawn fishermen at karaitivu are very obliging in their off time. Another nice thing to do is to go to Gange wadiya the estuary of the Kala oya and borrow a canoe (they give for free) and row up the Kala oya along the Wilpattu border, so wild and beautiful. Still, but not for long, people will lament after losing all this natural wealth. Sri lanka has got its development model horribly wrong.

Now back to CITK.

[NuinthTop contributor]

Chinwi, I have spent a lot of time in Wanathavillu on the other side of the lake(not recently though) and the lagoon was always fabulous, no smell, shallow waters where you could walk for long distance from shore, only negative was ,you have to protect feet as the bottom is all broken corral. We used to camp for days and no theives, you could leave anything outside and would be untouched. Very hospitable people and fabulous sea food.

Actually I have no idea about the exact place selected by CITK.

I think the area you described is in parallel with islets in Battalan gundu - dutch bay-   above the upper tip of the Puttam lagoon.  That area get good sea water, marine life and everything you said was correct.

Kalpitiya lagoon is a smaller wet area at the left side to Kalpitiya town. I have not scan all the places. I didn't like the place I visited. There were few resorts,  Divya ,Seethawadiya and De silva etc.
 

Wanathavillu is south of Dutch bay, a little south of Karaitivu and yes close to the sea. Am not familiar with the Kalpitiya area and the southern side of lagoon. I have heard that the real wealth of Kalpitiya is underground. It is supposed to have the largest underground reservoir of fresh water in south asia. It has enough fresh water to supply the whole of Sri Lanka for many years. Due to tube wells and agricultural chemicals , this gift from the earth is already under threat. What the sewage from the proposed resorts would do is obvious, unless environmental standards are maintained. (very unlikely). This water is supposed to be very close to the surface and in most of the islands including Battalangundu you just dig a bit into the sand and get water.  If you want to tour the islets, the prawn fishermen at karaitivu are very obliging in their off time. Another nice thing to do is to go to Gange wadiya the estuary of the Kala oya and borrow a canoe (they give for free) and row up the Kala oya along the Wilpattu border, so wild and beautiful. Still, but not for long, people will lament after losing all this natural wealth. Sri lanka has got its development model horribly wrong.

Now back to CITK.

Thx Backs & Chinwi,

Good information. Even most of us bought the CITK because of REEF, we do not have this much details of the site. I just thought, if they build the hotel guest can feel real natural, untouched life of Kalpitiya.

[smallvilleTop contributor]

This post/topic will be a high valuable for CITK & other REEF holders & future buyers. Contributors are talking with facts. Good discussion.

Good luck.

More than the investors, this thread is invaluable to the current owners of CITK Why? They need us to anticipate what they're gonna do next and capitalize on it.

See Kalpitiya is a smelly area due to the rotten lagoon, so they're not gonna build a hotel there unless otherwise the lagoon water in cleansed.

You can't breath rotten smell from the lagoon side and can find rough see with high tides in the other side. No long beach, the ocean become so deeper within few meters.  

No one will buy the villas when they see and smell the lagoon with stagnant dark colored water  and  see the rough see.
In addition, Keravalapitiya 900MW coal power station is located in the peninsula.

If CLND gets few acres in Pettah then the entire picture will be changed. Due to the recent activities we tend to hope it will be materialized within 2015.

Will the less powerful disc jockey manage to get the land even in 2015?  So many years have gone and CITK inventers are still talking about the CLND shares that DJ dumped on CITK at a massive profit.
The really powerful peeples in Sri-Lanka can sort out a land problem with one phone call. Disc Jockiya can't buy a land without getting into legal problems and he takes years to sort out CLND land issue.
DJ not that powerful?

He is not but Mr. Gota baya is... What if the latter one steps in? I believe the Disk Jockey already got the vinyl he was looking for to spin...if u get what I mean

[stocks hunterTop contributor]

Hey small don't forget the Dolphins in kalpitiya. I was lucky enough to see more than 300 Dolphins in kalpitiya sea last year.We were in the beach but no rottn smell there. Do no what you all are talking about? There you get a a special area for bathing. DON'T GO TO KAROLA WAADI AREA.

[stocks hunterTop contributor]

Members will see hariesha's dream come true in future. Then every body will thank him like they did it for REXP.

[sapumal]

google map search
7.926688, 79.747784

search google

citrus kalpitiya location

the first hit

nearly over 6km away from the lagoon water

[smallvilleTop contributor]

Hey small don't forget the Dolphins in kalpitiya. I was lucky enough to see more than 300 Dolphins in kalpitiya see last year.We were in the beach bu no rottn smell there. Do no what you all are talking about? They you get a a special area for bathing. DON'T GO TO KAROLA WAADI AREA.

I never visited the area, however of of my friends said the area is smelly.. Then Chinwi also told the same...

[stocks hunterTop contributor]

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Dolphines at kalpitiya took from my camera.

[chinwiTop contributor]

google map search
7.926688, 79.747784
search google
citrus kalpitiya location
nearly over 6km away from the lagoon water

Sapumal,

I do not think that is the site. Although somebody has marked it as Citrus kalpitiya .
It is even below Puttalam.

If that is the place , everything we talked is irrelevant except dolphins.

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The smelly area I visited is marked in yellow - circle- . That was called Kudawa and kalpitiya lagoon. The blue circle is where I saw high waves.
I think the good area others talk is in green . That area is opened to the ocean. I went closer to Erumuthiv , beyond that area I saw nice vegetation good water and no bad smell.

The Govt. had leased some small islands in green circled area to hotel projects.

I do not think Tangerine villa is our place.

[BackstageTop contributor]

Does any body remember the Master plan? the auctioning of the islets? the highway from Katunayake? What happened ?? or is it didn't happen.