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