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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Hunas Holdings PLC becomes Sri Lanka’s newest listed diversified conglomerate

Hunas Holdings PLC becomes Sri Lanka’s newest listed diversified conglomerate

4 posters

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Sapudev

Sapudev
Equity Analytic
Equity Analytic

Hunas Holdings PLC becomes Sri Lanka’s newest listed diversified conglomerate



Hunas Holdings PLC, previously known as Hunas Falls Hotels PLC, has officially become Sri Lanka’s newest listed diversified conglomerate.
This follows Serenity Lake Leisure (Pvt) Ltd., a fully-owned subsidiary of the TAD Group of Companies, infusing the then Hunas Falls Hotels with Rs. 4.25 billion in capital in January 2022, by transferring its ownership stakes in 11 companies to the latter.
This marked the first time in the country’s history in which such a transaction had been carried out without any dilution of the company’s minority interest, setting a new benchmark in good corporate governance and corporate responsibility in the Sri Lankan stock market. The move greatly benefited the company’s minority shareholders, who currently account for 6.5% of the company’s ownership, who saw vast appreciation in the value of their shareholdings.
Hunas Holdings PLC now holds 11 assets in renewable energy, real estate, tea (plantations, factories and in tea brokering) and hospitality/leisure sectors. In addition to strengthening the company through diversification, which adds multiple new revenue streams, the capital infusion also augments and expands Hunas Holdings PLC’s asset base. Furthermore, the increase in the consolidated asset base will facilitate the company’s future expansions as well, by making it easier to raise funds through borrowings for potential future developments, investments and acquisitions.
“Hunas Holdings PLC envisions becoming a leader in sustainable and ethical business in Sri Lanka,” Hunas Holdings PLC Director, Pravini Wickramanayke said. “Through the manner in which the capital infusion was carried out, by protecting the interests of the minority shareholders, we have demonstrated our strong commitment to ‘walk the talk’ in terms of upholding the highest standards of corporate governance and ethical business.”
“Despite challenges, the Sri Lankan economy has vast untapped potential and Hunas Holdings PLC will help realise these opportunities,” Wickramanayke added. “For this purpose, we will leverage our strong partnerships with reputed foreign investors, to bring in Foreign Direct Investments (FDIs) into the country, which can add substantial impetus to Sri Lanka’s growth prospects.”
The companies which form the diversified portfolio of Hunas Holdings PLC are; Hunas Properties (Pvt) Ltd. (100%), Boulder Gardens (Pvt) Ltd. (90%), Rainforest Hotels (Pvt) Ltd. (90%), Suriyakanda Plantations (Pvt) Ltd. (100%), Rainforest Tea Factory (Pvt) Ltd. (90%), Amunumulla Suhada Electricity Generation Company (Pvt) Ltd. (100%), Sustainable Energy Holdings  (Pvt) Ltd. (100%), Mercantile Produce Brokers (Pvt) Ltd. (20%), Weswin Power Galaha (Pvt) Ltd. (20%), Eratne Power Company (Pvt) Ltd. (30%) and Kuruganga Hydro (Pvt) Ltd. (19%).




http://bizenglish.adaderana.lk/hunas-holdings-plc-becomes-sri-lankas-newest-listed-diversified-conglomerate/

Jay-Jay

Jay-Jay
Manager - Equity Analytics
Manager - Equity Analytics

Key points to make a note of,


HUNA is not just a hotel anymore.


HUNA is a holding company, 



HUNA is into power and energy sector.

HUNA is into plantation sector also.

Beyondsenses likes this post

Equity Master


Equity Analytic
Equity Analytic

Jay-Jay wrote:Key points to make a note of,


HUNA is not just a hotel anymore.


HUNA is a holding company, 



HUNA is into power and energy sector.

HUNA is into plantation sector also.
I have seen their financial performance, they have gained net loss since last few years. I believe their share price will drop to single digit after the subdivision. They have mentioned share price near Rs160 before the subdivision and current price near Rs2500. Someone should need to know worth of share price of the company before buy it, so my point of view if I buy the HUNA share after subdivision my share price would be Rs1. Laughing Laughing Laughing Laughing

nigma likes this post

dhanushkacse


Equity Analytic
Equity Analytic

Equity Master wrote:
Jay-Jay wrote:Key points to make a note of,


HUNA is not just a hotel anymore.


HUNA is a holding company, 



HUNA is into power and energy sector.

HUNA is into plantation sector also.
I have seen their financial performance, they have gained net loss since last few years. I believe their share price will drop to single digit after the subdivision. They have mentioned share price near Rs160 before the subdivision and current price near Rs2500. Someone should need to know worth of share price of the company before buy it, so my point of view if I buy the HUNA share after subdivision my share price would be Rs1. Laughing Laughing Laughing Laughing
Agreed, but remember hotel sector continuously earn negative earnings since 2019. So as a hotel counter only hunnas earn negative is acceptable. But as a holding expect hunnas clear growth and rising of tourism can fast track it.

Jay-Jay

Jay-Jay
Manager - Equity Analytics
Manager - Equity Analytics

HUNA is not a Hotel.

HUNA has evolved to a " HOLDING COMPANY "

80%  owned by a Japanese company.

Sapudev

Sapudev
Equity Analytic
Equity Analytic

Jay-Jay wrote:HUNA is not a Hotel.

HUNA has evolved to a " HOLDING COMPANY "

80%  owned by a Japanese company.



Correct.   HUNA owns 11 Subsidiaries.

Jay-Jay

Jay-Jay
Manager - Equity Analytics
Manager - Equity Analytics

HUNA expansion drive of Renewable Energy towards 100 Mw  will make HUNA a giant in Power &  Energy sector.  The revenue generated from the energy sector will boost EPS of HUNA to a very healthy level in coming days,

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