FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka


Submit PostSubmit Post
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post



EXPERT CHRONICLE™

ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

CHRONICLE™ NEWS PRODUCTS

FINANCIAL CHRONICLE™

Views & Reviews, Analysis, Evaluations, Discussions, Gossip and Hot Tips relating to Sri Lankan companies listed on the Colombo Stock Exchange (CSE)
Contribute




DAILY CHRONICLE™

Latest news and articles published in Newspapers, Websites, Blogs and other online news sites relating to business and investments in Sri Lanka
Contribute



ECONOMIC CHRONICLE™

This is a section that provide news, views, analysis, predications relating to Political and Socio-Economic factors and how such activities affect the Stock Market and other economic activity of the Country.

Contribute




EXPERT CHRONICLE™

This is an exclusive section for Expert Articles which will help member to share knowledge through comments and responses of the members. All members are allowed to reply and make comments to these articles.

Contribute


Submit Post


CHRONICLE™ YouTube

Youtube Videos and other visual presentations relating Stock market and other investment advise submitted by members or other contributors.

Contribute


Submit Post


කොළඔ කොටස් වෙළඳපොළේ වංශකථාව
කොළඔ කොටස් වෙළඳපොළේ ලැයිස්තුගත සමාගම් කොටස් ගැන තොරතුරු¸විශ්ලේෂණ¸සාකච්ඡා¸ කටකතා¸රසකතා යන සියල්ල අපේම සිංහලෙන් කතා කළ හැකි ‘කතා මණ්ඩපය’

Contribute

Twitter Feeds
POPULAR COMPANIES
A

ABANS ELECTRICALS PLC

ACCESS ENGINEERING PLC Hot

ACL CABLES PLC

ACL PLASTICS PLC

ACME PRINTING & PACKAGING PLC

AGSTAR PLC

AITKEN SPENCE HOTEL HOLDINGS PLC

AITKEN SPENCE PLC

ANILANA HOTELS AND PROPERTIES PLC

ARPICO INSURANCE PLC

ASIA ASSET FINANCE PLC

ASIA CAPITAL PLC

B

BAIRAHA FARMS PLC

BALANGODA PLANTATIONS PLC

BIMPUTH FINANCE PLC

BLUE DIAMONDS JEWELLERY WORLDWIDE PLC

B P P L HOLDINGS PLC

BROWNS BEACH HOTELS PLC

BROWNS INVESTMENTS PLC

C

CARGO BOAT DEVELOPMENT COMPANY PLC

CENTRAL INDUSTRIES PLC

CEYLON COLD STORES PLC

CEYLON GRAIN ELEVATORS PLC Hot

CEYLON TEA BROKERS PLC

CEYLON TOBACCO COMPANY PLC

CHEVRON LUBRICANTS LANKA PLC

COLOMBO FORT LAND & BUILDING PLC

COMMERCIAL BANK OF CEYLON PLC

CITRUS LEISURE PLC Hot

COMMERCIAL CREDIT AND FINANCE PLC

D

DANKOTUWA PORCELAIN PLC

DFCC BANK PLC

DIALOG AXIATA PLC

DIALOG FINANCE PLC

DIPPED PRODUCTS PLC

DISTILLERIES COMPANY OF SRI LANKA PLC

DUNAMIS CAPITAL PLC

E

EAST WEST PROPERTIES PLC Hot

EASTERN MERCHANTS PLC

EXPOLANKA HOLDINGS PLC

E-CHANNELLING PLC

F

FIRST CAPITAL HOLDINGS PLC

G

GALADARI HOTELS (LANKA) PLC

GUARDIAN CAPITAL PARTNERS PLC

H

HATTON NATIONAL BANK PLC

HAYLEYS PLC

HAYLEYS FABRIC PLC

HAYLEYS FIBRE PLC Hot

HEMAS HOLDINGS PLC

HIKKADUWA BEACH RESORT PLC

HNB ASSURANCE PLC

HVA FOODS PLC

J

JANASHAKTHI INSURANCE COMPANY PLC

JOHN KEELLS HOLDINGS PLC Hot

JOHN KEELLS HOTELS PLC

L

LANKA ASHOK LEYLAND PLC

LANKA IOC PLC

LANKEM CEYLON PLC

LANKEM DEVELOPMENTS PLC

LAUGFS GAS PLC

LAUGFS POWER LIMITED

LOLC FINANCE PLC

LOLC HOLDINGS PLC

LUCKY LANKA MILK PROCESSING COMPANY PLC

M

MELSTACORP PLC

N

NATIONAL DEVELOPMENT BANK PLC

NATION LANKA FINANCE PLC

NESTLE LANKA PLC

O

ORIENT FINANCE PLC

OVERSEAS REALTY (CEYLON) PLC

P

PANASIAN POWER PLC

PEOPLE'S LEASING & FINANCE PLC

PIRAMAL GLASS CEYLON PLC

PRIME FINANCE PLC

R

RAIGAM WAYAMBA SALTERNS PLC

RENUKA AGRI FOODS PLC

RENUKA CAPITAL PLC

RENUKA HOLDINGS PLC

RICHARD PIERIS AND COMPANY PLC

RICHARD PIERIS EXPORTS PLC Hot

ROYAL CERAMICS PLC

S

SAMPATH BANK PLC

SEYLAN BANK PLC

SIERRA CABLES PLC

SINGHE HOSPITALS PLC Hot

SMB LEASING PLC

SOFTLOGIC HOLDINGS PLC

SOFTLOGIC LIFE INSURANCE PLC

SRI LANKA TELECOM PLC

SWISSTEK (CEYLON) PLC Hot

T

TEEJAY LANKA PLC

TESS AGRO PLC

THREE ACRE FARMS PLC

TOKYO CEMENT COMPANY (LANKA) PLC Hot

U

UNION BANK OF COLOMBO PLC

V

VALLIBEL FINANCE PLC

VALLIBEL ONE PLC Hot

VALLIBEL POWER ERATHNA PLC

W

WASKADUWA BEACH RESORT PLC


You are not connected. Please login or register

FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Mustafa and L&T to drop their SL projects

Mustafa and L&T to drop their SL projects

Go down  Message [Page 1 of 1]

wiki


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
It is reported that the multiplex which had scheduled to be established in Sri Lanka by the famous Mustafa centre in Singapore is getting delayed day by day.

The project which had targeted the Indian tourists, was supposed to be built on a piece of land in Ramanadan road Colombo 15, which had been purchased from The Finance Company for 1.2 Billion Rupees.

And 2 years have passed since that purchased but nothing has likely been done so far.

Many hotel projects like the Anilana hotel company had deployed projects in Sri Lanka expecting Indian tourists.

But it is said that within the first 6 months of this year,the amount of tourists who had visited Sri Lanka from India have been decreased from 85,426 to 83,981.

It is also reported that the proposed tallest building of Sri Lanka with 59 floors, which was scheduled to be built jointly by the National housing development authority and the Larsen and Toubro Ltd in India, is also getting delayed.

They had planned to construct the building near St. Joseph college Colombo with an expense of 150 Million US Dollars and to finish it on 2011.

Meanwhile TKS Securities company has recently pointed out, in its research report with regards to 22 massive development projects in Sri Lanka, that these mega projects might take time to be finished.

However, it had not taken the Mustafa project in to consideration.

http://www.srilankamirror.lk/news/10049-mustafa-and-l-t-to-drop-their-sl-projects

2Mustafa and L&T to drop their SL projects Empty Shangri-La Hotel project at a standstill Sun Aug 25, 2013 6:04 pm

wiki


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Hong Kong-based Shangri-La Asia’s super luxury hotel project in Colombo is at a standstill owing to some unexpected obstacles.
Construction work on the 497-room Shangri-La Hotel Colombo located between the Galle Face green promenade and Beira Lake, has been suspended as the government is demanding the company to make the US$ 200 million investment promised by them, informed souces said.

The Shangri-La Asia company had brought in only $2 million instead of $200 million promised by them during the period of construction and this has led to a dispute with state authorities, these sources revealed.

The hotel company has paid $75 million initially to buy six acres of land and $50 million thereafter, for another four acres totalling $125 for 10 acres, opposite Galle Face in Colombo.

Treasury Secretary Dr. P.B. Jayasundera has repeatedly announced with responsibility in public at media conferences held on 28th December 2010 and 25th March 2011 as well as in several other occasions that Shangri -La’s Investment is in the region of $500 million and their investment in land alone is $125 million up-front cash payment.

But the company has so far not fulfilled its promise to implement the project in Colombo that will include a luxury hotel, high quality residencies and an up market shopping mall at a total investment of over $250 million.

“Shangri-La’s broken promise has prompted the state authorities to block some facilities and concessions offered to the company and the suspension of the construction work was due to these unexpected obstacles,” one source said.

However other sources said the construction work has been suspended because a main sewage line of Colombo had been detected underneath the super luxury hotel project site.

The company wants government agencies to remove the sewage line at state expenses and this has led to some dispute and that the work will recommence after settling the issue, a senior government official said.

However according to the masterplan of UDA, the sewage line is adjacent to the project site and there was no need to remove it.
Meanwhile Shangri-La Asia has scaled down the construction work of their other 300-room city resort in Hambantota due to the same financial dispute, senior government official disclosed.

The Hambantota project is to be completed in a haphazard manner hurriedly due to pressure exerted by a top politician to expedite the work even by reducing the number of rooms.

The company has bought the land at a cost of $3.5 million which is out of a total investment of $109 million.

http://www.sundaytimes.lk/130825/business-times/shangri-la-hotel-project-at-a-standstill-58702.html

UKboy

UKboy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Looks like almost all these heavyweight projects in Colombo are on hold due to various reasons.(except government funded lotus tower). That's not a good sign.

Sponsored content


Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum