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Hilton Hotel secretly sold under cover of darkness yesterday night to a Casino King Vote_lcap68%Hilton Hotel secretly sold under cover of darkness yesterday night to a Casino King Vote_rcap 68% [ 178 ]
Hilton Hotel secretly sold under cover of darkness yesterday night to a Casino King Vote_lcap18%Hilton Hotel secretly sold under cover of darkness yesterday night to a Casino King Vote_rcap 18% [ 47 ]
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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Hilton Hotel secretly sold under cover of darkness yesterday night to a Casino King

Hilton Hotel secretly sold under cover of darkness yesterday night to a Casino King

+12
BraveHeart
anu
pradeepk
NW
mono
Quibit
dissamannar
kiri
FIRE123
MoneyMaker
milanka
moon
16 posters

Go down  Message [Page 1 of 1]

moon


Stock Analytic
Stock Analytic

http://www.lankaenews.com/English/news.php?id=10841

Lanka-e-News, 11,March 2011, 12.13PM) The Colombo Hilton Hotel that was acquired by the Govt. last week had been sold to Delta Corp. Co. owned by an international Casino King, Jayadev Mukunda Moody an Indian National yesterday night secretly and under cover of darkness for 121 million US Dollars, according to reports reaching Lanka-e-News

http://www.lankaenews.com/English/news.php?id=10841



Last edited by Quibit on Fri Mar 11, 2011 6:17 pm; edited 1 time in total (Reason for editing : Weblinks inserted and detailed post deleted)

milanka

milanka
Vice President - Equity Analytics
Vice President - Equity Analytics

http://www.deltacorp.in/chairman.html

http://forum.srilankaequity.com/u188

MoneyMaker

MoneyMaker
Senior Equity Analytic
Senior Equity Analytic

The present government is bringing disgrace to the rest of Sri Lanka. But I have no choice, I am forced to support them as their is no opposition.

We can forget about foreign Investments in the future as the little confidence the foreign investors had after finishing the 30 year conflict has dissolved with the acts of GOSL.

Good Luck to the local retailers. We ain't that rich to make the CSE have another bull run remember we are still a 3rd world country although some may think we are not.

Foreign investors sold a net 2.7+ billion rupees so far in 2011, after selling a record net 26.4 billion in 2010. Sad

4Hilton Hotel secretly sold under cover of darkness yesterday night to a Casino King Empty UTTER JOKE Fri Mar 11, 2011 5:18 pm

FIRE123


Manager - Equity Analytics
Manager - Equity Analytics

IF anyone calls Sri Lanka a 3rd world country its a "frog in a well"..who has no knowledge on world affairs

5Hilton Hotel secretly sold under cover of darkness yesterday night to a Casino King Empty Dear FIRE123 Fri Mar 11, 2011 7:01 pm

MoneyMaker

MoneyMaker
Senior Equity Analytic
Senior Equity Analytic

@FIRE123 wrote:IF anyone calls Sri Lanka a 3rd world country its a "frog in a well"..who has no knowledge on world affairs

Dear FIRE123,

Jokers like u who live in a bubble should stay away from forums like this one. Only a person with a puny brain like yours would make such a stupid comment. Why don't you explain the knowledge of world affairs u claim u know in relevance to this topic?
Take some time off your computer and look outside at this country we live in, how difficult people are finding to survive.
Please refrain from making such stupid comments.
Thanks.

kiri

kiri
Manager - Equity Analytics
Manager - Equity Analytics

@moon wrote:http://www.lankaenews.com/English/news.php?id=10841

Lanka-e-News, 11,March 2011, 12.13PM) The Colombo Hilton Hotel that was acquired by the Govt. last week had been sold to Delta Corp. Co. owned by an international Casino King, Jayadev Mukunda Moody an Indian National yesterday night secretly and under cover of darkness for 121 million US Dollars, according to reports reaching Lanka-e-News

http://www.lankaenews.com/English/news.php?id=10841
Lankaenews? how can trust them. they always try to see wrong side of everything. they never promote good things.

dissamannar


Stock Trader

@MoneyMaker wrote:
@FIRE123 wrote:IF anyone calls Sri Lanka a 3rd world country its a "frog in a well"..who has no knowledge on world affairs

Dear FIRE123,

Jokers like u who live in a bubble should stay away from forums like this one. Only a person with a puny brain like yours would make such a stupid comment. Why don't you explain the knowledge of world affairs u claim u know in relevance to this topic?
Take some time off your computer and look outside at this country we live in, how difficult people are finding to survive.
Please refrain from making such stupid comments.
Thanks.
ok. please forgot about others for moment and tell me are you facing any difficulties to survive and explained them so we can get to know about someone who unable to survive and reasons for that :D :D :D :D :D :D :D

Quibit


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Hey guys,

I would like you'll to be mindful of what you post in this forum. This forum topics hit all search engines within less than 24 hours and also articles are distributed via Twitter and facebook.

Please refrain from posting controversial articles from not so reputed websites. If you still think it is relevant to the forum, please ensure a valid link is shown within the content of the article so that reader can refer the source of the article instead of the member who post the said article or the forum he/she is a member.

Also please refrain from posting political and religion related articles, news and opinions in this froum. Moderators reserve the right to delete post without any notice.

Thanks for your help.
Quibi

mono

mono
Vice President - Equity Analytics
Vice President - Equity Analytics

Firstly i highly doubt there being a modicum of truth to this story. Secondly, so what? The last owner owed the government billions of rupees. the government took the Hotel from them and sold it. I see nothing wrong with this. Or do you expect the government to run a hotel? Rolling Eyes

as for foreign investments..... well... isn't this 13 billion rupee foreign investment

NW


Equity Analytic
Equity Analytic

I find it incredible that some of our own Sri Lankans call our country third world. Having differences with the present party in power is not an excuse for us to look down on our motherland. Obviously the 'third world guys' have never seen the homeless people in Washington DC or death and misery in Kabul. If you lived long enough in so called 'advanced economies' you will realize stress-free life in Sri Lanka is thousand times better.

pradeepk


Stock Analytic
Stock Analytic

the news is Hilton was sold to India Delta Corp. Jaydev Mody is the Chairman of this company , apparently the Majority shares of this company is held by Ragesh Punjiwala,the Indian casino king who also enjoyed monopoly over Nepals multi billion casino industry owning 10 casinos, he fled the country back to India over a growing dispute on roylaty payment with government. He was recently in Colombo

Delta corp is the Indias largest gaming company also diversifying in to real estate business and hospitality sectors. They identified Sri lanka & Daman gaming industry having future growth potential. Can view these details from following site
http://www.deltacorp.in/pdf/DCL%20-%20Investor%20PPt%20-%20040211.pdf

anu

anu
Manager - Equity Analytics
Manager - Equity Analytics

IMHO, this forum will do well without discussions and arguments on whether SL is a 1st world country or 3rd world country; whether sale of Hilton is fair or unfair etc. etc. those are best left to other relevant blogs and forums.

While deviating from the purpose of the forum, we may also invite unwanted attention by discussing politically sensitive issues outside the purview which can harm the site, sponsors and all members.

Moderators and members, I am sorry to be candid; but the fact needs to be told by someone.

BraveHeart


Stock Trader

@kiri wrote:
@moon wrote:http://www.lankaenews.com/English/news.php?id=10841

Lanka-e-News, 11,March 2011, 12.13PM) The Colombo Hilton Hotel that was acquired by the Govt. last week had been sold to Delta Corp. Co. owned by an international Casino King, Jayadev Mukunda Moody an Indian National yesterday night secretly and under cover of darkness for 121 million US Dollars, according to reports reaching Lanka-e-News

http://www.lankaenews.com/English/news.php?id=10841
Lankaenews? how can trust them. they always try to see wrong side of everything. they never promote good things.

lanka business online news

Quote "Meanwhile, a media report said, an Indian firm in leisure and gaming has had talks in Sri Lanka over a state-run firm that owns the building in which Colombo's Hilton hotel is located." unquote

http://www.lankabusinessonline.com/fullstory.php?nid=901833801

MoneyMaker

MoneyMaker
Senior Equity Analytic
Senior Equity Analytic

Qubit,

I totally agree with u. Although this forum is about peoples analysis, views & comments we need to realize that there is a very thin line between what can be said and what needs to be said.

Great work on putting together such a great forum to help us all share our thoughts & views on the shares listed on the CSE.

Mono,

Your doubt would be a fact soon. The government needs to know that when there is too much government intervention in the private sector it works negatively towards foreign investment. My point is that these transactions need to be more transparent rather than it being a surprise.

NW,

You can be in denial, but I am ashamed of it too, but the fact is a fact.

Qubit & Anu,

I totally agree with you guys this is a forum to share our thoughts about the shares listed on the CSE and factors relating to the CSE.


GUYS LETS MOVE ON FROM THIS TOPIC.
WE SHOULD WRITE OUR PERSONAL OPINIONS ON A FORUM RELATING TO GOVERNMENT AND NOT THIS ONE. APOLOGIES FROM ME.

FIRE123,

clown

mono

mono
Vice President - Equity Analytics
Vice President - Equity Analytics

@MoneyMaker wrote:
Mono,

Your doubt would be a fact soon. The government needs to know that when there is too much government intervention in the private sector it works negatively towards foreign investment. My point is that these transactions need to be more transparent rather than it being a surprise.

how on earth does this negatively effect foreign investment?

MoneyMaker

MoneyMaker
Senior Equity Analytic
Senior Equity Analytic

@mono wrote:
@MoneyMaker wrote:
Mono,

Your doubt would be a fact soon. The government needs to know that when there is too much government intervention in the private sector it works negatively towards foreign investment. My point is that these transactions need to be more transparent rather than it being a surprise.

how on earth does this negatively effect foreign investment?

I don't have time to explain to you the macro of this negativity. But let me just briefly explain to you the micro of it. If you were a foreign investor looking to invest in Sri Lanka's tourism boom and found that an Internationally renowned Hotel chain's presence in Sri Lanka was taken over by the government, wouldn't that make you lift an eyebrow Shocked . What I am finding difficult to absorb or digest is that why would Hilton let this happen? That information we will probably find out shortly or never.

TRANSPARENCY, TRANSPARENCY. TRANSPARENCY.

mono

mono
Vice President - Equity Analytics
Vice President - Equity Analytics

@MoneyMaker wrote:
@mono wrote:
@MoneyMaker wrote:
Mono,

Your doubt would be a fact soon. The government needs to know that when there is too much government intervention in the private sector it works negatively towards foreign investment. My point is that these transactions need to be more transparent rather than it being a surprise.

how on earth does this negatively effect foreign investment?

I don't have time to explain to you the macro of this negativity. But let me just briefly explain to you the micro of it. If you were a foreign investor looking to invest in Sri Lanka's tourism boom and found that an Internationally renowned Hotel chain's presence in Sri Lanka was taken over by the government, wouldn't that make you lift an eyebrow Shocked . What I am finding difficult to absorb or digest is that why would Hilton let this happen? That information we will probably find out shortly or never.

TRANSPARENCY, TRANSPARENCY. TRANSPARENCY.

Do you even know what happened?

And transperency is just a catch phrase of the NGO crowd. In international business transparency never a premium. examples of this are galore

NW


Equity Analytic
Equity Analytic

Look guys, if we want to classify Sri Lanka on economic terms, it is a low middle income country moving towards middle income status. I am not sure if you meant 'third world' to mean low income (per capita GDP less than 980 or so-- countries like Bangladesh, Cambodia, Malawi), but the term 'third world' is slang. I am not saying we have a perfect system in Sri Lanka, but this is not the forum discuss those issues. Let's keep the discussion to economic and stock market issues. Time to move on........

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics

@mono wrote:
@MoneyMaker wrote:
@mono wrote:
@MoneyMaker wrote:
Mono,

Your doubt would be a fact soon. The government needs to know that when there is too much government intervention in the private sector it works negatively towards foreign investment. My point is that these transactions need to be more transparent rather than it being a surprise.

how on earth does this negatively effect foreign investment?

I don't have time to explain to you the macro of this negativity. But let me just briefly explain to you the micro of it. If you were a foreign investor looking to invest in Sri Lanka's tourism boom and found that an Internationally renowned Hotel chain's presence in Sri Lanka was taken over by the government, wouldn't that make you lift an eyebrow Shocked . What I am finding difficult to absorb or digest is that why would Hilton let this happen? That information we will probably find out shortly or never.

TRANSPARENCY, TRANSPARENCY. TRANSPARENCY.

Do you even know what happened?

And transperency is just a catch phrase of the NGO crowd. In international business transparency never a premium. examples of this are galore

"Internationally renowned Hotel chain's presence in Sri Lanka was taken over by the government" ???
This is an incorrect interpretation.
Hilton hotel in Sri lanka was a racket from the beginning. I think you know they paid the contractor for building over 525 rooms but few years later someone reviled the hotel has only 482 rooms. ( an entire floor is missing I think)

Now the Company owes more than 11 billion to the Govt. and it is a good news that the Govt found someone to buy this building for this much of amount.

mono

mono
Vice President - Equity Analytics
Vice President - Equity Analytics

exactly chinwi. 11 billion isn't something that can be repaid in a matter of years or even decades. This way the government at the very least covers their losses.

Aamiable


Vice President - Equity Analytics
Vice President - Equity Analytics

Tourist arrivals to this part of the world will be increased, there are problems in other parts of the world. Sri Lanka is becoming a peaceful and safe place to invest, lot of people focus attention on us now. Good time ahead for our economy and tourist industry. There are investors prepared to enter here. Good for the CSE as well.

soileconomy

soileconomy
Vice President - Equity Analytics
Vice President - Equity Analytics

Firstly we should be mindful of the link or source , which we are trying to get information .Some websites are design only disgrace/put the nation/country trouble and create pesimistic ideas about our nation not only here in our mother land but also in other countries .If you have a look with a balanced mind you will realize.

Some of our people have attitud problems .I will tell Example

Removing street venders form Pettah payments.What did our politicians (Some) say ?
They said that innocent street venders are chased away by the government ? Some media coverage (Electronic and some printed media ) gave inflated publicity abt greveinces of venders.
But if these people who talked about street venders were asked to donate for the wellfare of these street venders .How may will contribute ?
They talk about Street venders if they can get political advantege only .I think you all remember the printed and electronic media and bancrept politicos who fell crocodile tears about them.
Now every one who walks in the payment know the dirrerence.

Likewise there are many more.
Before pointing fingers at others we should be the example.

Sri Lanka will need a attitude change to improve.

Quibit


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Hilton Property Not For Sale

The Chairman of Hotel Developers (Lanka) PLC, the owning company of the Colombo Hilton Hotel, on Saturday dismissed media claims that the hotel was to be sold to an Indian casino mogul. Thirukumar Nadesan, said, that there was “absolutely no truth in the matter at all. This is nothing more than a cheap political canard. The President of Sri Lanka has categorically denied that the hotel is for sale. These stories are baseless, mischievous and vexatious in the extreme. There have been no negotiations at all concerning any sale.”

The controversial Hilton Hotel project, has been steeped in controversy since its inception in 1984 when Cornel Perera persuaded the then UNP government to lease him seven acres of prime land in the City of Colombo from the UDA for a sum of Rs. 136 million – which was revalued at Rs. 250 million to gain control of Hotel Developers PLC. The UDA were only ever paid a sum of Rs. 27.2 million despite offering unbelievably sympathetic settlement terms spread over 33 years at an annual payment of a mere Rs. 3 million.

The Treasury provided a sovereign guarantee to the Japanese contractors Mitsui, underwriting the cost of construction and over the years has forked out in excess of US$ 115 million – or Rs 12.7 billion.

The government after 27 years of slumber finally took over the seven acre plot, citing the unpaid dues to the UDA only in January this year. Hotel Developers PLC the owning company have for the past 21 years not supplied audited financial figures as required by law. Financial circles were agog that after this long lapse of time the Board of Hotel Developers PLC were finally preparing to release their accounts, which inside sources said would be done early next week.

The present Board of Directors at HDL headed by businessman Nadesan, have already trained their sights on what is now regarded as a huge anomaly: that Hilton International receives a management fee amounting to nearly 33% of Gross Operating Profit (GOP). In contrast Hilton International’s fee to the owners of the Hilton Residency / JAIC Hilton is more in tune with current market trends, amounting to 12% of GOP. Hoteliers in the know acknowledged that the fee was perhaps equitable in 1984 but in terms of increased competition and increased opportunity in Sri Lanka now, the 33% could not be sustained.
Nadesan was scathing in his condemnation of the huge fee Hilton was seeking to protect. He pointed out that with the Treasury being owed Rs. 12 billion and Gross Profits in the Rs. 655 million mark HDL were simply unable to service the Treasury debt – calling on the Treasury instead, to create a new entity and take control of a prized asset. Nadesan was of the opinion that it was imperative that a more equitable arrangement be reached with Hilton by consensus rather than antagonistic means.

http://www.thesundayleader.lk/2011/03/13/hilton-property-not-for-sale/
Courtesy- The Sunday Leader

MarketResearch

MarketResearch
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

@moon wrote:http://www.lankaenews.com/English/news.php?id=10841

Lanka-e-News, 11,March 2011, 12.13PM) The Colombo Hilton Hotel that was acquired by the Govt. last week had been sold to Delta Corp. Co. owned by an international Casino King, Jayadev Mukunda Moody an Indian National yesterday night secretly and under cover of darkness for 121 million US Dollars, according to reports reaching Lanka-e-News

http://www.lankaenews.com/English/news.php?id=10841

This bankrupt Lankaenews.
Do not rely this "Pacha" website.
This man (the Editor-Sandaruwan Senadhera) One time supported Sarath Fonseka to become the president.(Day dreamer)
Then supported to bankrupt Jeppo.(JVP)
One time supported Ranil.Now Sajith.
This "Musala" sandaruwan Senadheera" like another Lasantha Wickramathunga.
This man always has criticized our Defence Sectrery Mr.Gotabaya Rajapaksha and the President.
This "Sandaruwan Gobbaya" is another UNP "Bankolth Man"
Can not see any positive thing done by the government.

Sanadaruwan Senadeera and Lanka E News get lost.


I am getting the entire responsibility for my above comment[u][i]

MarketResearch

MarketResearch
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

@Quibit wrote:Hey guys,

I would like you'll to be mindful of what you post in this forum. This forum topics hit all search engines within less than 24 hours and also articles are distributed via Twitter and facebook.

Please refrain from posting controversial articles from not so reputed websites. If you still think it is relevant to the forum, please ensure a valid link is shown within the content of the article so that reader can refer the source of the article instead of the member who post the said article or the forum he/she is a member.

Also please refrain from posting political and religion related articles, news and opinions in this froum. Moderators reserve the right to delete post without any notice.

Thanks for your help.
Quibi

Dear Quibi,

Agree with you.Do not allow to publish articles like lankaenews.Thi man is a Pissek.Sanadaruwan Senadheera -Editor of Lankaenews.He is "Kala Kanniyek"
This bankrupt Lankaenews.
Do not rely this "Pacha" website.
This man (the Editor-Sandaruwan Senadhera) One time supported Sarath Fonseka to become the president.(Day dreamer)
Then supported to bankrupt Jeppo.(JVP)
One time supported Ranil.Now Sajith.
This "Musala" sandaruwan Senadheera" like another Lasantha Wickramathunga.
This man always has criticized our Defence Sectrery Mr.Gotabaya Rajapaksha and the President.
This "Sandaruwan Gobbaya" is another UNP "Bankolth Man"
Can not see any positive thing done by the government.

Sanadaruwan Senadeera and Lanka E News get lost.

I am getting the entire responsibility for my above comment[u][i]

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