John Keels Holdings PLC had proposed a project valued in excess of USD 650 Million , involving the developing, owning , managing, operating, selling, leasing and renting of a luxury mutli use integrated resort on the land owned and occupied by its subsidiaries Ceylon Cold Stores, John Keels Properties,Waterfront Properties (Pvt) Ltd, and JKL.N.
Therefore these companies collectively own WPL. (Waterfront Properties )
During the year the company disposed of tis land at 130 Glennie Street , Colombo 02 to WPL and received 191,638,152 ordinary shares at the value of LKR 1.9 billion
Other than the property valuation the other operations remain without much change
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