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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Riverina Hotels Plc has amalgamated with Palm Garden Hotels Plc with effect from 5 December.

Riverina Hotels Plc has amalgamated with Palm Garden Hotels Plc with effect from 5 December.

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kalpani


Stock Trader
Riverina Hotels Plc has amalgamated with Palm Garden Hotels Plc with effect from 5 December.
This is following the receipt of approval from the relevant regulatory authorities and shareholders of the both companies.
The continuing company will be Palm Garden Hotels Plc

skyfall


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
New massive resort should be ready for operate in next year. This will be the biggest resort in Sri Lanka.
Still PLAM is trading sub 80s. Nett asset value alone more than double that price

Sstar

Sstar
Vice President - Equity Analytics
Vice President - Equity Analytics
I bought PALM and lost lot of money in the past. More than 30% of my Investment. I don't want to enter again until such time Hotel is ready to be opened. LOLC had done too much restructuring with their Hotel Companies and I think they are lost as to how they should go about with it.

Ishara Nanyakkara and LOLC group made the biggest mistakes of demolishing more than 300 rooms that belong to PALM and RIVERINA with the intention of putting ups new hotel. We have waited more than 2 years without any progress. It would have been better for the shareholders if he ran those hotels instead of demolishing them.

skyfall


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@Sstar wrote:I bought PALM and lost lot of money in the past. More than 30% of my Investment. I don't want to enter again until such time Hotel is ready to be opened. LOLC had done too much restructuring  with their Hotel Companies and I think they are lost as to how they should go about with it.

Ishara Nanyakkara and LOLC group made the biggest mistakes of demolishing more than 300 rooms that belong to PALM and RIVERINA with the intention of putting ups  new hotel. We have waited more than 2 years without any progress. It would have been better for the shareholders if he ran those hotels instead of demolishing them.

Any share there's a time you need to sell. LOLC had given plenty warnings before close down PALM. Even I did have some shares and sold those earlier. Then my journey started again.

Collected this from 90s to rockbottom 60s and kept collecting.
Once BIL's right issue get subscribed we can see faster progression of the building work. How PALM share price appreciate tells that story. You will see faster movements of the share price after the BIL announcement (on right issue) & that's not far away. (less than a month)

Remember it is not a Rs100m or Rs200m right issue but staggering 2.3 billion..! Once they settle the existing high interest loans, they can go for less expensive loans that help to construct PALM.

PALM will be one of kind resort in Sri Lanka.

Current net asset value = Rs 170
Market Value = Rs 100

EDEN hotel & Dickwella resot (unlisted) comes under PALM.

Not many share in the market as well.

mark

mark
Expert
Expert
@Sstar wrote:I bought PALM and lost lot of money in the past. More than 30% of my Investment. I don't want to enter again until such time Hotel is ready to be opened. LOLC had done too much restructuring with their Hotel Companies and I think they are lost as to how they should go about with it.

Ishara Nanyakkara and LOLC group made the biggest mistakes of demolishing more than 300 rooms that belong to PALM and RIVERINA with the intention of putting ups new hotel. We have waited more than 2 years without any progress. It would have been better for the shareholders if he ran those hotels instead of demolishing them.


hay didnt you made enough money when it ran over 300? Remember you tuk tuk fella Smile

WildBear


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Dont you think BIL is the one going to be benefitted most with this right issue, it will become one of the leading player in hotel sector with room capacity closer to 1000.

VALUEPICK

VALUEPICK
Expert
Expert
I have been to these hotels in the past. We can really enjoy food at Riverina hotel, so delicious.At palm garden hotel tourists enjoy beach activities. How about now? More tourists in this region means more demand for other indirect industries such as food, transportation and leisure activities. We have to analyse capacity of hotel and food industry from 2015 onwards due to increased demand for food, accommodation and other leisure activities. Some are really going to benefit.

skyfall


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@mark wrote:
@Sstar wrote:I bought PALM and lost lot of money in the past. More than 30% of my Investment. I don't want to enter again until such time Hotel is ready to be opened. LOLC had done too much restructuring  with their Hotel Companies and I think they are lost as to how they should go about with it.

Ishara Nanyakkara and LOLC group made the biggest mistakes of demolishing more than 300 rooms that belong to PALM and RIVERINA with the intention of putting ups  new hotel. We have waited more than 2 years without any progress. It would have been better for the shareholders if he ran those hotels instead of demolishing them.


hay didnt you made enough money when it ran over 300?  Remember you tuk tuk fella Smile

Very valid point mark..!

Market R

Market R
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Palm Garden Hotels PLC
Rights Issue - Three shares for every one exsisting shares
PRICE 55/-

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