CITW against CITK

troy · 1 CITW against CITK Tue Apr 30, 2013 9:54 am

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Why people prefer CITK to CITW when CITK has not started even constructions whole CITW is to start operations this year???

Jiggysaurus · 2 Re: CITW against CITK Tue Apr 30, 2013 10:03 am

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CITK owns some 20% of CLND so any move up in CLND has a speculative hit on CITK

troy · 3 Re: CITW against CITK Tue Apr 30, 2013 11:04 am

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Jiggysaurus wrote:CITK owns some 20% of CLND so any move up in CLND has a speculative hit on CITK

But that 20% is not in their dealing securities. They consider it as a long term investment... so reaping benefits in the long term and i dont think our traders do investments thinking these long term benefits,,, Evil or Very Mad

However CITW will earn some buks this year itself through operations.. at a loss for some time but still breakeven point will be much early compared to CITK Rolling Eyes

Jake Sully · 4 Re: CITW against CITK Tue Apr 30, 2013 12:25 pm

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I think they gave up building the hotels. Only colorful brouchers available.

Jana1 · 5 Re: CITW against CITK Tue Apr 30, 2013 3:21 pm

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troy wrote:

Jiggysaurus wrote:CITK owns some 20% of CLND so any move up in CLND has a speculative hit on CITK

But that 20% is not in their dealing securities. They consider it as a long term investment... so reaping benefits in the long term and i dont think our traders do investments thinking these long term benefits,,,

However CITW will earn some buks this year itself through operations.. at a loss for some time but still breakeven point will be much early compared to CITK

CITW: they suppose to be in operation by 2015, at least 2 more years. Not sure still they have started construction.

seek · 6 Re: CITW against CITK Tue Apr 30, 2013 5:12 pm

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Jana1 wrote:

troy wrote:

Jiggysaurus wrote:CITK owns some 20% of CLND so any move up in CLND has a speculative hit on CITK

But that 20% is not in their dealing securities. They consider it as a long term investment... so reaping benefits in the long term and i dont think our traders do investments thinking these long term benefits,,,

However CITW will earn some buks this year itself through operations.. at a loss for some time but still breakeven point will be much early compared to CITK

CITW: they suppose to be in operation by 2015, at least 2 more years. Not sure still they have started construction.

@Jana1, Refer this.

http://forum.srilankaequity.com/t27139-progress-of-the-citrus-leisure-reef

Jana1 · 7 Re: CITW against CITK Tue Apr 30, 2013 5:24 pm

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seek wrote:

Jana1 wrote:

troy wrote:

Jiggysaurus wrote:CITK owns some 20% of CLND so any move up in CLND has a speculative hit on CITK

But that 20% is not in their dealing securities. They consider it as a long term investment... so reaping benefits in the long term and i dont think our traders do investments thinking these long term benefits,,,

However CITW will earn some buks this year itself through operations.. at a loss for some time but still breakeven point will be much early compared to CITK

CITW: they suppose to be in operation by 2015, at least 2 more years. Not sure still they have started construction.

@Jana1, Refer this.

http://forum.srilankaequity.com/t27139-progress-of-the-citrus-leisure-reef

But their IPO prospectus was saying by 2015. May be this info could be the latest, but I dont wanna be optimistic...

Chinwi · 8 Re: CITW against CITK Tue Apr 30, 2013 7:05 pm

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jana1 wrote:CITW: they suppose to be in operation by 2015, at least 2 more years. Not sure still they have started construction.

2015-Not CITW it is CITK.

CITK : 2015
CITW: 2013

BTW, I think CITW construction may go on towards early 2014 due to heavy rains in May-June , October-November.
Normally December to Wesak is more drier and we can get more time for construction than in the second half of the year in SL.

Jana1 · 9 Re: CITW against CITK Tue Apr 30, 2013 7:39 pm

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Chinwi wrote:

jana1 wrote:CITW: they suppose to be in operation by 2015, at least 2 more years. Not sure still they have started construction.

2015-Not CITW it is CITK.

CITK : 2015
CITW: 2013

BTW, I think CITW construction may go on towards early 2014 due to heavy rains in May-June , October-November.
Normally December to Wesak is more drier and we can get more time for construction than in the second half of the year in SL.

No. U r wrong. CITW commercial operation suppose to be started by 2015... see below item which is published in the ipo pros.

Construction
The construction of the resort is scheduled to commence during December 2011 by utilizing the funds raised through the IPO, and
would be completed within 30 months.
Commercial operations of the Project is scheduled to commence in early 2015 (Financial Year).

go to page no-15 of below link..
http://www.cse.lk/cmt/upload_report_file/1106_1325563707.pdf

cseguide · 10 Re: CITW against CITK Tue Apr 30, 2013 8:07 pm

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which one is correct?

Chinwi · 11 Re: CITW against CITK Tue Apr 30, 2013 9:25 pm

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cseguide wrote:which one is correct?

Both.

He was talking about their initial plan.

I reported updated info; we talked this in detail 2-3 months ago.

Somehow both are almost same.

As per initial plan the construction starts December 2011 and ends within 2 1/2 years. i.e before mid 2014.

Commercial operation 2015 financial year. ( i.e. April 2014 - march 2015)

So, their initial plan was to open the hotel around April-June next year. (2014)

p.s.

Later they announced they are trying to open it mid this year. ( 2013)
That was why I wrote they may open it early 2014 after facing Oct-Nov monsoon rains . If they complete the work before that they may open it for Winter 2013.

http://forum.srilankaequity.com/t27139-progress-of-the-citrus-leisure-reef#162363

Jana1 · 12 Re: CITW against CITK Wed May 01, 2013 6:50 am

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@ Chinwi,
Have u seen or received info regarding its stage of completion from ur friends or sum1 who lives in the surrounding area? I am bit of surprise how they could be 1.5 years earlier than its actual time. May be sum sort of rumors or false info also possible to push up mkt price...

Chinwi · 13 Re: CITW against CITK Wed May 01, 2013 8:06 am

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@jana1,

I cannot give exact position. If I get some approved images I will post.

They ceremonially started construction on 30th January last year. (2012) . During 2012 they completed 40% of the building.

Mid 2014 is 2 and 1/2 years . ( As they stated in IPO)
They are not 1 and 1/2 year earlier.
Somehow, I do not think you need 2 and half years to complete it.
(They also hinted it in IPO, WITHIN 30 months. )
Most probably the will try to open it before Winter season 2013.

BTW, most of the time consuming parts are to come this year. FF&E and Interior , Ventilation etc.

cseguide · 14 Re: CITW against CITK Wed May 01, 2013 8:15 am

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Thanks for the explanation

Jana1 · 15 Re: CITW against CITK Wed May 01, 2013 8:27 am

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Chinwi wrote:@jana1,

I cannot give exact position. If I get some approved images I will post.

They ceremonially started construction on 30th January last year. (2012) . During 2012 they completed 40% of the building.

Mid 2014 is 2 and 1/2 years . ( As they stated in IPO)
They are not 1 and 1/2 year earlier.
Somehow, I do not think you need 2 and half years to complete it.
(They also hinted it in IPO, WITHIN 30 months. )
Most probably the will try to open it before Winter season 2013.

BTW, most of the time consuming parts are to come this year. FF&E and Interior , Ventilation etc.

Thanks for ur explanation. Normally most companies extend their deadlines. That is y I asked and also backed by most popular guy... Let us c what will happn. but definitely it will pass 10, if it comes to an operation...