Hilton Hotel secretly sold under cover of darkness yesterday night to a Casino King

moon

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http://www.lankaenews.com/English/news.php?id=10841

Lanka-e-News, 11,March 2011, 12.13PM) The Colombo Hilton Hotel that was acquired by the Govt. last week had been sold to Delta Corp. Co. owned by an international Casino King, Jayadev Mukunda Moody an Indian National yesterday night secretly and under cover of darkness for 121 million US Dollars, according to reports reaching Lanka-e-News

http://www.lankaenews.com/English/news.php?id=10841

Last edited by Quibit on Fri Mar 11, 2011 6:17 pm; edited 1 time in total (Reason for editing : Weblinks inserted and detailed post deleted)

milanka

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http://www.deltacorp.in/chairman.html

MoneyMaker

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The present government is bringing disgrace to the rest of Sri Lanka. But I have no choice, I am forced to support them as their is no opposition.

We can forget about foreign Investments in the future as the little confidence the foreign investors had after finishing the 30 year conflict has dissolved with the acts of GOSL.

Good Luck to the local retailers. We ain't that rich to make the CSE have another bull run remember we are still a 3rd world country although some may think we are not.

Foreign investors sold a net 2.7+ billion rupees so far in 2011, after selling a record net 26.4 billion in 2010. Sad

FIRE123 · 4 UTTER JOKE Fri Mar 11, 2011 5:18 pm

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IF anyone calls Sri Lanka a 3rd world country its a "frog in a well"..who has no knowledge on world affairs

MoneyMaker · 5 Dear FIRE123 Fri Mar 11, 2011 7:01 pm

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@FIRE123 wrote:IF anyone calls Sri Lanka a 3rd world country its a "frog in a well"..who has no knowledge on world affairs

Dear FIRE123,

Jokers like u who live in a bubble should stay away from forums like this one. Only a person with a puny brain like yours would make such a stupid comment. Why don't you explain the knowledge of world affairs u claim u know in relevance to this topic?
Take some time off your computer and look outside at this country we live in, how difficult people are finding to survive.
Please refrain from making such stupid comments.
Thanks.

kiri

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@moon wrote:http://www.lankaenews.com/English/news.php?id=10841

Lanka-e-News, 11,March 2011, 12.13PM) The Colombo Hilton Hotel that was acquired by the Govt. last week had been sold to Delta Corp. Co. owned by an international Casino King, Jayadev Mukunda Moody an Indian National yesterday night secretly and under cover of darkness for 121 million US Dollars, according to reports reaching Lanka-e-News

http://www.lankaenews.com/English/news.php?id=10841

Lankaenews? how can trust them. they always try to see wrong side of everything. they never promote good things.

dissamannar

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@MoneyMaker wrote:

@FIRE123 wrote:IF anyone calls Sri Lanka a 3rd world country its a "frog in a well"..who has no knowledge on world affairs

Dear FIRE123,

Jokers like u who live in a bubble should stay away from forums like this one. Only a person with a puny brain like yours would make such a stupid comment. Why don't you explain the knowledge of world affairs u claim u know in relevance to this topic?
Take some time off your computer and look outside at this country we live in, how difficult people are finding to survive.
Please refrain from making such stupid comments.
Thanks.

ok. please forgot about others for moment and tell me are you facing any difficulties to survive and explained them so we can get to know about someone who unable to survive and reasons for that :D :D :D :D :D :D :D

Quibit

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Hey guys,

I would like you'll to be mindful of what you post in this forum. This forum topics hit all search engines within less than 24 hours and also articles are distributed via Twitter and facebook.

Please refrain from posting controversial articles from not so reputed websites. If you still think it is relevant to the forum, please ensure a valid link is shown within the content of the article so that reader can refer the source of the article instead of the member who post the said article or the forum he/she is a member.

Also please refrain from posting political and religion related articles, news and opinions in this froum. Moderators reserve the right to delete post without any notice.

Thanks for your help.
Quibi

mono

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Firstly i highly doubt there being a modicum of truth to this story. Secondly, so what? The last owner owed the government billions of rupees. the government took the Hotel from them and sold it. I see nothing wrong with this. Or do you expect the government to run a hotel? Rolling Eyes

as for foreign investments..... well... isn't this 13 billion rupee foreign investment

NW

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I find it incredible that some of our own Sri Lankans call our country third world. Having differences with the present party in power is not an excuse for us to look down on our motherland. Obviously the 'third world guys' have never seen the homeless people in Washington DC or death and misery in Kabul. If you lived long enough in so called 'advanced economies' you will realize stress-free life in Sri Lanka is thousand times better.

pradeepk

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the news is Hilton was sold to India Delta Corp. Jaydev Mody is the Chairman of this company , apparently the Majority shares of this company is held by Ragesh Punjiwala,the Indian casino king who also enjoyed monopoly over Nepals multi billion casino industry owning 10 casinos, he fled the country back to India over a growing dispute on roylaty payment with government. He was recently in Colombo

Delta corp is the Indias largest gaming company also diversifying in to real estate business and hospitality sectors. They identified Sri lanka & Daman gaming industry having future growth potential. Can view these details from following site
http://www.deltacorp.in/pdf/DCL%20-%20Investor%20PPt%20-%20040211.pdf

anu

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IMHO, this forum will do well without discussions and arguments on whether SL is a 1st world country or 3rd world country; whether sale of Hilton is fair or unfair etc. etc. those are best left to other relevant blogs and forums.

While deviating from the purpose of the forum, we may also invite unwanted attention by discussing politically sensitive issues outside the purview which can harm the site, sponsors and all members.

Moderators and members, I am sorry to be candid; but the fact needs to be told by someone.

BraveHeart

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@kiri wrote:

@moon wrote:http://www.lankaenews.com/English/news.php?id=10841

Lanka-e-News, 11,March 2011, 12.13PM) The Colombo Hilton Hotel that was acquired by the Govt. last week had been sold to Delta Corp. Co. owned by an international Casino King, Jayadev Mukunda Moody an Indian National yesterday night secretly and under cover of darkness for 121 million US Dollars, according to reports reaching Lanka-e-News

http://www.lankaenews.com/English/news.php?id=10841

Lankaenews? how can trust them. they always try to see wrong side of everything. they never promote good things.

lanka business online news

Quote "Meanwhile, a media report said, an Indian firm in leisure and gaming has had talks in Sri Lanka over a state-run firm that owns the building in which Colombo's Hilton hotel is located." unquote

http://www.lankabusinessonline.com/fullstory.php?nid=901833801

MoneyMaker

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Qubit,

I totally agree with u. Although this forum is about peoples analysis, views & comments we need to realize that there is a very thin line between what can be said and what needs to be said.

Great work on putting together such a great forum to help us all share our thoughts & views on the shares listed on the CSE.

Mono,

Your doubt would be a fact soon. The government needs to know that when there is too much government intervention in the private sector it works negatively towards foreign investment. My point is that these transactions need to be more transparent rather than it being a surprise.

NW,

You can be in denial, but I am ashamed of it too, but the fact is a fact.

Qubit & Anu,

I totally agree with you guys this is a forum to share our thoughts about the shares listed on the CSE and factors relating to the CSE.

GUYS LETS MOVE ON FROM THIS TOPIC.
WE SHOULD WRITE OUR PERSONAL OPINIONS ON A FORUM RELATING TO GOVERNMENT AND NOT THIS ONE. APOLOGIES FROM ME.

FIRE123,

clown

mono

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@MoneyMaker wrote:
Mono,

Your doubt would be a fact soon. The government needs to know that when there is too much government intervention in the private sector it works negatively towards foreign investment. My point is that these transactions need to be more transparent rather than it being a surprise.

how on earth does this negatively effect foreign investment?

MoneyMaker

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@mono wrote:

@MoneyMaker wrote:
Mono,

Your doubt would be a fact soon. The government needs to know that when there is too much government intervention in the private sector it works negatively towards foreign investment. My point is that these transactions need to be more transparent rather than it being a surprise.

how on earth does this negatively effect foreign investment?

I don't have time to explain to you the macro of this negativity. But let me just briefly explain to you the micro of it. If you were a foreign investor looking to invest in Sri Lanka's tourism boom and found that an Internationally renowned Hotel chain's presence in Sri Lanka was taken over by the government, wouldn't that make you lift an eyebrow Shocked

. What I am finding difficult to absorb or digest is that why would Hilton let this happen? That information we will probably find out shortly or never.

TRANSPARENCY, TRANSPARENCY. TRANSPARENCY.

mono

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@MoneyMaker wrote:

@mono wrote:

@MoneyMaker wrote:
Mono,

Your doubt would be a fact soon. The government needs to know that when there is too much government intervention in the private sector it works negatively towards foreign investment. My point is that these transactions need to be more transparent rather than it being a surprise.

how on earth does this negatively effect foreign investment?

I don't have time to explain to you the macro of this negativity. But let me just briefly explain to you the micro of it. If you were a foreign investor looking to invest in Sri Lanka's tourism boom and found that an Internationally renowned Hotel chain's presence in Sri Lanka was taken over by the government, wouldn't that make you lift an eyebrow . What I am finding difficult to absorb or digest is that why would Hilton let this happen? That information we will probably find out shortly or never.

TRANSPARENCY, TRANSPARENCY. TRANSPARENCY.

Do you even know what happened?

And transperency is just a catch phrase of the NGO crowd. In international business transparency never a premium. examples of this are galore

NW

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Look guys, if we want to classify Sri Lanka on economic terms, it is a low middle income country moving towards middle income status. I am not sure if you meant 'third world' to mean low income (per capita GDP less than 980 or so-- countries like Bangladesh, Cambodia, Malawi), but the term 'third world' is slang. I am not saying we have a perfect system in Sri Lanka, but this is not the forum discuss those issues. Let's keep the discussion to economic and stock market issues. Time to move on........

Chinwi

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@mono wrote:

@MoneyMaker wrote:

@mono wrote:

@MoneyMaker wrote:
Mono,

Your doubt would be a fact soon. The government needs to know that when there is too much government intervention in the private sector it works negatively towards foreign investment. My point is that these transactions need to be more transparent rather than it being a surprise.

how on earth does this negatively effect foreign investment?

I don't have time to explain to you the macro of this negativity. But let me just briefly explain to you the micro of it. If you were a foreign investor looking to invest in Sri Lanka's tourism boom and found that an Internationally renowned Hotel chain's presence in Sri Lanka was taken over by the government, wouldn't that make you lift an eyebrow . What I am finding difficult to absorb or digest is that why would Hilton let this happen? That information we will probably find out shortly or never.

TRANSPARENCY, TRANSPARENCY. TRANSPARENCY.

Do you even know what happened?

And transperency is just a catch phrase of the NGO crowd. In international business transparency never a premium. examples of this are galore

"Internationally renowned Hotel chain's presence in Sri Lanka was taken over by the government" ???
This is an incorrect interpretation.
Hilton hotel in Sri lanka was a racket from the beginning. I think you know they paid the contractor for building over 525 rooms but few years later someone reviled the hotel has only 482 rooms. ( an entire floor is missing I think)

Now the Company owes more than 11 billion to the Govt. and it is a good news that the Govt found someone to buy this building for this much of amount.

mono

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exactly chinwi. 11 billion isn't something that can be repaid in a matter of years or even decades. This way the government at the very least covers their losses.

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Hilton Hotel secretly sold under cover of darkness yesterday night to a Casino King

1 Hilton Hotel secretly sold under cover of darkness yesterday night to a Casino King Fri Mar 11, 2011 4:04 pm

moon

2 Re: Hilton Hotel secretly sold under cover of darkness yesterday night to a Casino King Fri Mar 11, 2011 4:20 pm

milanka

3 Re: Hilton Hotel secretly sold under cover of darkness yesterday night to a Casino King Fri Mar 11, 2011 4:23 pm

MoneyMaker

4 UTTER JOKE Fri Mar 11, 2011 5:18 pm

FIRE123

5 Dear FIRE123 Fri Mar 11, 2011 7:01 pm

MoneyMaker

6 Re: Hilton Hotel secretly sold under cover of darkness yesterday night to a Casino King Fri Mar 11, 2011 8:36 pm

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7 Re: Hilton Hotel secretly sold under cover of darkness yesterday night to a Casino King Fri Mar 11, 2011 9:14 pm

dissamannar

8 Re: Hilton Hotel secretly sold under cover of darkness yesterday night to a Casino King Fri Mar 11, 2011 9:23 pm

Quibit

9 Re: Hilton Hotel secretly sold under cover of darkness yesterday night to a Casino King Fri Mar 11, 2011 11:19 pm

mono

10 Re: Hilton Hotel secretly sold under cover of darkness yesterday night to a Casino King Fri Mar 11, 2011 11:50 pm

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11 Re: Hilton Hotel secretly sold under cover of darkness yesterday night to a Casino King Sat Mar 12, 2011 8:43 am

pradeepk

12 Re: Hilton Hotel secretly sold under cover of darkness yesterday night to a Casino King Sat Mar 12, 2011 10:56 am

anu

13 Re: Hilton Hotel secretly sold under cover of darkness yesterday night to a Casino King Sat Mar 12, 2011 11:37 am

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14 Re: Hilton Hotel secretly sold under cover of darkness yesterday night to a Casino King Sat Mar 12, 2011 12:28 pm

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15 Re: Hilton Hotel secretly sold under cover of darkness yesterday night to a Casino King Sat Mar 12, 2011 12:33 pm

mono

16 Re: Hilton Hotel secretly sold under cover of darkness yesterday night to a Casino King Sat Mar 12, 2011 12:54 pm

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17 Re: Hilton Hotel secretly sold under cover of darkness yesterday night to a Casino King Sat Mar 12, 2011 1:27 pm

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18 Re: Hilton Hotel secretly sold under cover of darkness yesterday night to a Casino King Sat Mar 12, 2011 1:57 pm

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19 Re: Hilton Hotel secretly sold under cover of darkness yesterday night to a Casino King Sat Mar 12, 2011 8:41 pm

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20 Re: Hilton Hotel secretly sold under cover of darkness yesterday night to a Casino King Sat Mar 12, 2011 9:37 pm

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21 Re: Hilton Hotel secretly sold under cover of darkness yesterday night to a Casino King

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