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



Latest topics

» UNHCR Fear is over 21 countries speak for us only 15 against
by kalu351 Today at 2:11 am

» SOFTLOGIC HOLDINGS PLC (SHL.N0000)
by suku502 Today at 12:58 am

» NATIONS TRUST BANK PLC (NTB.N0000)
by ColomboCSE Yesterday at 9:17 pm

» පෙබරවාරි මාසේ කොළඹ කොටස් වලට මොකක්ද වුනේ - බැසුවාද ? බැස්සාද ?
by xhunter Yesterday at 8:45 pm

» DFCC will be receiving Rs.594,538,285.50
by Wonderer Yesterday at 7:49 pm

» Daily Foreign Transactions
by Pradeep90 Yesterday at 6:42 pm

» UNHCR එකේ ලොකූ ටෝක දැම්මට සමහර ඔස්තාර් ලා කියන ආර්තික සම්භාදක අරවා මේවා මුකුත් එන්නේ නැ
by Vishwanarth Yesterday at 6:27 pm

» BROWNS INVESTMENTS PLC (BIL.N0000)
by samaritan Yesterday at 9:45 am

» GLAS will be winner with Super Gain.
by Eranga87 Yesterday at 2:00 am

» If you are one of those people who can sleep at night while someone else is in control of your destiny, then my advice would be to only invest in stocks
by Asoka Samarakone Thu Feb 25, 2021 9:58 pm

» Price prediction on GRAN and TAFL
by Bakkabwoi Thu Feb 25, 2021 6:22 pm

» SEMB SEMB
by stockchaser Thu Feb 25, 2021 2:57 pm

» EXPOLANKA HOLDINGS PLC (EXPO.N0000)
by Vishwanarth Thu Feb 25, 2021 2:54 pm

» Bullish sentiment returns with market regulator's assurance
by Vishwanarth Thu Feb 25, 2021 2:52 pm

» DIPD/HAYC/HAYL
by Wickyz Thu Feb 25, 2021 1:19 pm

» Chart 25.02.2021
by stockback Thu Feb 25, 2021 12:41 pm

» is it a good time to sell expo shares
by Kipling Thu Feb 25, 2021 8:39 am

» Current 2021 Februray Unit Trust/Unit Fund Per Annum percentages
by agentnrox Thu Feb 25, 2021 8:13 am

» Leading brokers causing market downturn
by Mithooshan Thu Feb 25, 2021 7:40 am

» Must watch this video - unnecessary panic
by Jana Thu Feb 25, 2021 1:03 am

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™ » JKH to use a Dhammika licence for Waterfront casino

JKH to use a Dhammika licence for Waterfront casino

Go down  Message [Page 1 of 1]

sriranga

sriranga
Co-Admin
Susantha tells shareholders they’re negotiating with two parties

Although John Keells Holdings Chairman Susantha Ratnayake told shareholders at an EGM last week that they were in negotiation with two casino licence holders to obtain an existing licence for their mega Waterfront Development project, well informed sources indicated that the only available option is a deal with Mr. Dhammika Perera.

``There are only four licences existing and Dhammika holds three. The other one is with Ravi Abeywardene who’s already committed to Packer. So JKH has no option but to work with Dhammika,’’ a source familiar with the deal said.

Ratnayake also made clear that JKH will not be running the casino themselves but will obtain the services of an international operator to run it to the highest international standards.

``We won’t be running casinos. We don’t want to; we have no expertise in that area. We will act as a landlord,’’ Ratnayake who expressed confidence in getting the use of a licence said.

A shareholder welcomed JKH’s decision not to be a direct participant in casinos saying the operator coming in can ``do what he wants.’’

``They can’t do what they want. We want the business run to the highest international standards,’’ Ratnayake responded.

In response to a question, the JKH chairman indicated confidence of their ability of servicing the present dividend level of Rs. 3 per share even after the dilution with the rights issue followed by the exercise of the warrants. He indicated that the work on the four-year project has already begun.

The decision to tie up the rights issue with warrants to be exercised down the road was to ``ease the burden on the shareholder’’ with the cash call so distributed to get the funds only as and when they are needed.

Ratnayake rejected the suggestion that he had not been sufficiently forthcoming when he was questioned about a rights issue at the previous EGM called to approve the project. What he had said then was the factual position at the time he made the statement – that the directors had not taken any decision on a rights issue.

Some shareholders said that had he indicated the possibility of a rights issue, the share price would have gone up. Ratnayake said he could not announce a decision that had not been taken by his board.

This decision was taken shortly after the previous EGM and promptly communicated to the CSE for dissemination to the market.

Although the rights issue is not underwritten, analysts are confident that it would be fully subscribed with many shareholders planning to apply for additional shares.

Ratnayake rejected published reports that JKH had sat on and earned interest on cash infused to the company at the previous rights issue presented on the basis of the need for investment capital. Of the Rs. 12.9 bn. raised then, Rs. 4.1 bn. was immediately utilized to retire existing debt.

There was also a share buyback at Rs. 90 a share - far higher than the then prevailing market price which cost JKH Rs. 2.3 bn. and substantial investments by their subsidiaries. Post the rights issue, returns to shareholders had been Rs. 15.3 bn.

Ratnayake said that reports to the contrary were ``mischievous.’’ Asked why they had not been rebutted, he said ``we can’t be rebutting everything that’s written.’’
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=89583

http://sharemarket-srilanka.blogspot.co.uk/

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
JKH in talks with two international operators to run casino
By Duruthu Edirimuni Chandrasekera

John Keells Holdings (JKH), this week securing shareholder approval for a 40-billion-rupee rights issue to fund a mega mixed development project, is discussing with two international gaming operators to run its intended casino.

“We are discussing with two international operators at the moment,” Ajit Gunewardene, JKH Deputy Chairman told the Business Times at the company’s new headquarters adjoining the Cinnamon Lakeside hotel, which it owns. He said that as the company hasn’t got knowledge or the expertise to run gaming operations, they had decided to employ an international operator.

While there was widespread speculation that one operator JKH is talking to is the Wynn Resorts Limited, which is a developer and operator of high end hotels and casinos, Mr. Gunewardene didn’t want to comment on market guesswork.

The company, which has some 857.9 million shares in issue saw 640 million shares saying ‘yes’ to the rights issue at Wednesday’s Extraordinary General Meeting (EGM). The money will go to fund the US$820 million integrated development project on the Beira waterfront bordering its former headquarters.

“One shareholder with 5,300 shares who had asked the management at the company’s earlier EGM to approve the integrated development project whether there will be a rights issue, had said that the management had not informed of such a move at the time and that he won’t vote for this rights issue,” another shareholder who was at the meeting said.

Group directors clarified the issues saying that before the project was approved by the shareholders at the (first) EGM, they had not decided on a rights issue. “They said that the management couldn’t discuss a rights issue as it was price sensitive information and that a board decision wasn’t made till the project was agreed upon by the shareholders,” the shareholder added.

Directors, responding to another concern that the company had not used up money raised in an earlier rights issue and that it was used only to collect interest, said this was incorrect and showed a list of where the money was invested in.
http://www.sundaytimes.lk/131006/business-times/jkh-in-talks-with-two-international-operators-to-run-casino-64419.html

Back to top  Message [Page 1 of 1]

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