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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » JKH to delay Cinnamon Life project

JKH to delay Cinnamon Life project

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1JKH to delay Cinnamon Life project Empty JKH to delay Cinnamon Life project Sun Jan 31, 2016 6:37 pm

skyfall


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

The ugliest building in the city will not be completed until 2019. Could be one of 
the reasons for the recent selling. 
Two years of delay is not something an investor can ignore.


Sri Lanka’s premier blue chip John Keells Holdings PLC (JKH) said the completion of the Cinnamon Life project, previously Waterfront, would be delayed till 2019. Previously the project was slated to be completed in 2017. 
John Keells Chairman Susathan Ratnayake said the US $ 850 million project had seen some “unforeseen delays” and would be completed only in 2019. 
For the December quarter (3Q16), JKH saw its net profit falling 10 percent to Rs.3.9 billion over the same period of the previous year. - 


See more at: http://www.dailymirror.lk/104685/jkh-to-delay-cinnamon-life-project#sthash.VUXjIv68.dpuf

2JKH to delay Cinnamon Life project Empty Re: JKH to delay Cinnamon Life project Mon Feb 01, 2016 6:28 pm

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics

skyfall wrote:

The ugliest building in the city will not be completed until 2019. Could be one of
the reasons for the recent selling.
Two years of delay is not something an investor can ignore.

In this regard I 100% agree with you.

3JKH to delay Cinnamon Life project Empty Re: JKH to delay Cinnamon Life project Tue Feb 02, 2016 7:41 pm

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics

I wrote my 'mismatching' theory without knowing this decision.

Sometimes  this 'unforeseen' delay may give 'unforeseen' benefits to shareholders, in shot-medium term.

Normally, delaying means cost overrun in long term.
In this case we have to study this very carefully to see the cash flow and bottom line for next few years.

I hope they should go for a design change in superstructure  to make it a more pleasing masterpiece to watch.

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