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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » HIKKADUWA BEACH RESORT PLC (CITH.N0000)

HIKKADUWA BEACH RESORT PLC (CITH.N0000)

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( CITH.N00 )GOING TO HUGE HIGH

01.GUYS PLZ SHERE YOUR EXPERIENCE WITH CITH.N ... IN UP TREND AND DIP BYING 200% PROFIT ....
 
02. GOING TO PUBLISH DIVIDEND ....SOON...I GUESS...
 
03. MARKET MA CROSS BY ONE GREEN CANDLE
 
04. DIP CROSS BY HIGHER LOW ...
 

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1HIKKADUWA BEACH RESORT PLC (CITH.N0000) Empty citrus hikkaduwa Private placement Fri Dec 30, 2011 12:22 pm

sapumal


Vice President - Equity Analytics
Vice President - Equity Analytics
Today is the opening date for the PP for Citrus Hikkaduwa
I think it will get over subscribed in day 1. If so REEF will have a huge capital gain

The share transferred happened @10 per share to the parent company
PP is going to happen @20 per share

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@sapumal wrote:Today is the opening date for the PP for Citrus Hikkaduwa
I think it will get over subscribed in day 1. If so REEF will have a huge capital gain

The share transferred happened @10 per share to the parent company
PP is going to happen @20 per share

Thank you Sapumal for mentioning this.
Now I am running to Borella to handover the forms.

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
As per the company info, refurbishment & expansion (40 additional rooms) of Citrus Hikkaduwa began in May 2011 and it was a 5 month project.
So its now should be over and normalt operation could be resumed..

With the addition of Citrus Waskaduwa & Kalpitiya, the number of Room nights are expected to be increased to 45750 in 2015 with an occupancy rate of 40% and to grow up to 70% in 2018 with no of room nights increased to 54750.

Hotel Specs;
• 90 Rooms - 8 Deluxe, 82 Standard
• Banquet Hall for 190 pax
• Coffee Shop & Lounge
• 2 Restaurants - 1 All day, 1 Specialty
• Main Bar
• Swimming Pool
• Spa
• BBQ Facility

This PP is on a lock down for 1 year right? So after 1 year its a clear gain I think..

hawklk


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Lets hope the Sri lanka government does not murder the hotel and tourism sector.

Education is being murdered...Financial sector is being killed slowly, Food and medicine is also targeted.

Only guys who the government gives away is the private bus fellows, they immediately go on strike... Very Happy Very Happy

sapumal


Vice President - Equity Analytics
Vice President - Equity Analytics
@smallville wrote:As per the company info, refurbishment & expansion (40 additional rooms) of Citrus Hikkaduwa began in May 2011 and it was a 5 month project.
So its now should be over and normal operation could be resumed..

With the addition of Citrus Waskaduwa & Kalpitiya, the number of Room nights are expected to be increased to 45750 in 2015 with an occupancy rate of 40% and to grow up to 70% in 2018 with no of room nights increased to 54750.


Refurbishment & expansion are almost completed. The new building can be seen from Galle road but still construction workers are there. Hope new building will opened early January (May be 1st of Jan).

There is another subsidiary called "Citrus Villas Kalpitiya". They going to build 50 villas and leased villas @50Mn each. Profit from a villa will be 18.75Mn after deducing construction cost and marketing fees (Emagewise).
Total profit from the project is 18.75*50=937.5Mn
page 87 of Kalpitiya Pros









6HIKKADUWA BEACH RESORT PLC (CITH.N0000) Empty Citrus opens in Hikkaduwa Mon Jan 23, 2012 1:46 pm

sapumal


Vice President - Equity Analytics
Vice President - Equity Analytics
http://www.dailynews.lk/2012/01/23/bus01.asp

Citrus opens in Hikkaduwa
Citrus Hotel after a five month refurbishment, which began last May, opened last Saturday adding more value to Hikkaduwa. The hotel owned by Citrus Leisure PLC would add 90 ultra luxury rooms. Situated on a two acre free-hold property with an ideal view of the sea, Citrus Hikkaduwa offers the best in comfort and service and includes standard and executives rooms as well as a suite to suit the most discerning travellers.

The property will strategically be managed on a strict policy of cost versus benefit, with the stated purpose of doubling revenue by the end of the next financial year.

The company has stated a new vision of transforming itself into a chain of hotels, with ambitious plans to add 600 luxury rooms to Sri Lanka's room inventory over the next three years.

The new management has unveiled accelerated growth plans and made several strategic acquisitions.

The first acquisition was a 7 acre land in Waskaduwa, at a sum of Rs. 221.7 million. Construction is scheduled to begin in early 2011 on a 150-roomed star class resort on the beach property.

Negotiations are also underway to acquire another plot of land on the East coast for a new beachfront resort.

sapumal


Vice President - Equity Analytics
Vice President - Equity Analytics
http://www.ft.lk/2012/01/23/citrus-leisure-begins-600-room-footprint-from-hikkaduwa/
Citrus Leisure begins 600 room footprint from Hikkaduwa

Newest but fastest growing in the hospitality industry, Citrus Leisure Plc, on Saturday kicked off its planned 600 room foray to better harness the post-war rebound with the opening of 93-room and Citrus Hikkaduwa.
Citrus Leisure Chairman Prema Cooray, a veteran hotelier, said that the Company plans to build 150 room resort in Waskaduwa by 2013, a 155-room plus a Presidential Suit and 50 exclusive Villas in Kalpitiya, and a further 40 Villas initially in Pasikuda. He also revealed that a 200 room city hotel in Hambantota is also on the cards.
The resort (previously known as Amaya Reef), was expanded from the original 50 room in addition a sleek refurbishment, all completed within a record five months. The new resort includes 51 standard rooms, 40 delux rooms and two suites. Furthermore, a brand new 190 pax banquet hall, a 140-capacity restaurant – Lemon Fish, a tranquil Spa as well as an exclusive wine and cigar bar – Summer Salt have been added.
“Following the end of the war, Sri Lanka’s tourism profile has considerably improved. We (Sri Lanka) are on a high. The attractiveness is unparallel in this part of the region whilst Sri Lanka’s biodiversity is also the highest in Asia. Citrus will lead from the front in harnessing the true potential of Sri Lanka,” Cooray said.
Citrus Chief also said that the business model pursued by the Company was unique and it is energetically driven by its major shareholders – Divasa Equity, owned by the trio – DilithJayaweera, VaruniAmunugama Fernando and SarvaAmeresekere.
In a bid to complet the offering, the Company has launched Citrus Vaccation to handle in-bound and outbound travel whilst to Citrus Aqua has been floated to maximize the potential in water-based recreation.

Kumar

Kumar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Thanks for sharing.

bakapandithaya

bakapandithaya
Vice President - Equity Analytics
Vice President - Equity Analytics
Thnkx mate 4 shring

sriranga

sriranga
Co-Admin
http://www.cse.lk/cmt/upload_cse_announcements/4711349777633_.pdf

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

sriranga

sriranga
Co-Admin
HIKKADUWA BEACH RESORT PLC (CITH.N0000) Hikka10

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

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
10 months ago, last December they issued 15,544,949 shares to REEF holders and others in a private placement at the same price 20/-.

Prior to that , REEF - Citrus Leisure was the 100% owner of the hotel.

This is its IPO.


K.Haputantri

K.Haputantri
Co-Admin
Expect manipulation soon.

sureshot

sureshot
Vice President - Equity Analytics
Vice President - Equity Analytics
hikkaduwa beach is it a younger brother of Kalpitiya and reef ?

How many more to come.........
any idea confused

15HIKKADUWA BEACH RESORT PLC (CITH.N0000) Empty Re: HIKKADUWA BEACH RESORT PLC (CITH.N0000) Tue Oct 09, 2012 10:58 pm

snandasiri

snandasiri
Manager - Equity Analytics
Manager - Equity Analytics
Waskaduwa and Kalpitiya hotels trading around 8.How can we expect this IPO worth Rs.20?Waskaduwa and Kalpitiya hotels also belonged to reef and their IPO price around 20.(18 and 24 not sure).

RIO

RIO
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@snandasiri wrote:Waskaduwa and Kalpitiya hotels trading around 8.How can we expect this IPO worth Rs.20?Waskaduwa and Kalpitiya hotels also belonged to reef and their IPO price around 20.(18 and 24 not sure).

Don't worry over those things..the REEF was trading @ Rs. 1.50 ~ 3.00 in mid 2010 and all of a sudden with an announcement of a consolidation of shares & again a split then Rights with Warrants and so go on....[cant remember the exact dates & prices as I do not keep a tab on those shit...] REEF moved to levels where no one ever thought of...LOL

This is Sri Lanka the miracle of Asia manipulation.....!

sanju351

sanju351
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@sureshot wrote:hikkaduwa beach is it a younger brother of Kalpitiya and reef ?

How many more to come.........
any idea confused

CITK & CITW are not in operation but Hikkaduwa Beach is a hotel already in operation and doing well i presume people will go behind this IPO and am sure By 24 Oct market condition will be soo positive as well ...

gamaya


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@snandasiri wrote:Waskaduwa and Kalpitiya hotels trading around 8.How can we expect this IPO worth Rs.20?Waskaduwa and Kalpitiya hotels also belonged to reef and their IPO price around 20.(18 and 24 not sure).

IPO price of Waskaduwa was 12.50 and Kalpitiya 17.50.

19HIKKADUWA BEACH RESORT PLC (CITH.N0000) Empty Re: HIKKADUWA BEACH RESORT PLC (CITH.N0000) Wed Oct 10, 2012 12:02 pm

snandasiri

snandasiri
Manager - Equity Analytics
Manager - Equity Analytics
@gamaya wrote:
@snandasiri wrote:Waskaduwa and Kalpitiya hotels trading around 8.How can we expect this IPO worth Rs.20?Waskaduwa and Kalpitiya hotels also belonged to reef and their IPO price around 20.(18 and 24 not sure).

IPO price of Waskaduwa was 12.50 and Kalpitiya 17.50.

Thanks for correcting me. But do you think this IPO worth?

20HIKKADUWA BEACH RESORT PLC (CITH.N0000) Empty Re: HIKKADUWA BEACH RESORT PLC (CITH.N0000) Wed Oct 10, 2012 12:22 pm

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@sanju351 wrote:
@sureshot wrote:hikkaduwa beach is it a younger brother of Kalpitiya and reef ?

How many more to come.........
any idea confused

CITK & CITW are not in operation but Hikkaduwa Beach is a hotel already in operation and doing well i presume people will go behind this IPO and am sure By 24 Oct market condition will be soo positive as well ...

Correct.

Hikkaduwa Beach resort is the newly refurbished Reefcomber, the famous old hotel in Hikkaduwa tourist beach.

This was the only valuable property REEF had when the new owners acquired it. Then they made REEF as a holding company and transferred the assets of Reefcomber to a new subsidiary called Hikkaduwa Beach Resort.
This is its IPO.
They used about 300 million last years to add more rooms and that money was collected by a private placement. The hotel is functioning well.

I am waiting to see the prospectus and the reports.

21HIKKADUWA BEACH RESORT PLC (CITH.N0000) Empty Re: HIKKADUWA BEACH RESORT PLC (CITH.N0000) Wed Oct 10, 2012 12:39 pm

market bull

market bull
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
You know DJ method.He gives 50% or less back to his private placement share holders from the share price.So all can make us fools & EXIT at 15-16 In this IPO also L.Same thing happened to CITK & Waskaduwa.

New comers be careful with this kind of CRAP shares.

@Chinwi wrote:10 months ago, last December they issued 15,544,949 shares to REEF holders and others in a private placement at the same price 20/-.

Prior to that , REEF - Citrus Leisure was the 100% owner of the hotel.

This is its IPO.


gamaya


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@market bull wrote:You know DJ method.He gives 50% or less back to his private placement share holders from the share price.

Well thats an interesting thought. Any thing is possible in CSE. IPOs are a valuable tool for the rich people.

But the money from the pivate placement should go in to the balance sheets, so how could that be cooked?

market bull

market bull
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Waskaduwa
Composition of Financing of the Hotel Construction
Amount (LKR) Percentage
Equity
Share Issues 1,201,559,700 65%
Net Operating Cash flow -
Borrowings
Long Term Borrowings 659,240,300 35%
Short Term Borrowings - -
Total 1,860,800,000 100%

If anybody knows please tell me whether construction started or not.But now they have only 11M cash & cash equivalent in the cash flow.Ha ha.
They have given 800M related party loan.Mismanagement of funds.so giving % from the share price is nothing.

CITK =8M negative cash & cash equivalent balance.

You dont know manipulators helping to manipulators.


@gamaya wrote:
@market bull wrote:You know DJ method.He gives 50% or less back to his private placement share holders from the share price.

Well thats an interesting thought. Any thing is possible in CSE. IPOs are a valuable tool for the rich people.

But the money from the pivate placement should go in to the balance sheets, so how could that be cooked?

24HIKKADUWA BEACH RESORT PLC (CITH.N0000) Empty DJ new IPO Hikkaduwa Mon Oct 22, 2012 4:44 pm

market bull

market bull
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
DJ new IPO Hikkaduwa coming to market on 24th October 2012.Hope our smart investors are waiting to buy this share from market or already applied for IPO.

Offer price:20,NAPS currently 13.

Ane Private placement price also same ne. Kochchara hodada lol!

DJ new method:Gives 50% or less back to his private placement share holders from the share price. So all can make us fools & EXIT at 15-16 In this IPO also


Genuine response from our member(Hope it will be helpful for all) sorry for inconv Mr/Mrs......

{all their 20 rupee shares went up first day and now trading at a 7-8..This will happen to Hikkaduwa as well.. What i feel is, we may not have time to sell this over 20 since there'll be hell a lot with GTC orders queued in....}


24th can be a opening day of wonder of Asia.....

Now REEF is a just a holding company only.REEF converted to hikkaduwa & come with new IPO.They know only one thing how to steal public money. lol!


Earlier of this year(January) two babies of DJ listed in the market.One was Waskaduwa

They have collected 1201M from Waskaduwa Share issue.According to their latest interim reports they have only 11M in the cash flow.Not yet started construction also.

They have given 800M related party loan ha ha Mismanagement of funds

Next baby CITK-not yet started construction-8M negative cash flow(According to latest interim reports),IPO price 17.50 touched RS 24 1st day,came down to 4.80


New comers be careful with this kind of CRAP shares.

marusira


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
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