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Sri Lanka's EPF delay holding up hotel sale: East West EmptyToday at 6:58 pm by NIRMALSG

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Sri Lanka's EPF delay holding up hotel sale: East West EmptyToday at 2:22 pm by කිත්සිරි ද සිල්වා

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» In the Meantime, Within Our Shores !
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Sri Lanka's EPF delay holding up hotel sale: East West EmptyTue May 28, 2019 8:03 am by කිත්සිරි ද සිල්වා

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Sri Lanka's EPF delay holding up hotel sale: East West EmptyTue May 14, 2019 11:49 am by CK

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Sri Lanka's EPF delay holding up hotel sale: East West

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Sri Lanka's EPF delay holding up hotel sale: East West Empty Sri Lanka's EPF delay holding up hotel sale: East West

Post by The Invisible on Mon Aug 20, 2018 10:41 am

ECONOMYNEXT - A delay by the Employees Provident Fund, a state-managed pension fund in coming up with a price for a 11 percent stake is delaying the sale of a hotel to a Singapore based firm, East West Properties said.

In March 2018, East West said it had signed a letter of intent with HPL Hotels and Resorts Pte Ltd, Singapore to sell a 72 percent stake in Weligama Hotel Properties Ltd.

In a stock exchange filing Friday, East West said HPL Hotels had said they only want a 100 percent stake.

But fund had not come up with a valuation of their 11.11 percent stake "despite all accounts and other details being available to the EPF though their representative" who is director of the hotel, East West the filing said.

No offer price was mentioned in the filing.
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Sri Lanka's EPF delay holding up hotel sale: East West Empty Re: Sri Lanka's EPF delay holding up hotel sale: East West

Post by nihal123 on Mon Aug 20, 2018 11:05 am

Thanks Inv
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Sri Lanka's EPF delay holding up hotel sale: East West Empty Re: Sri Lanka's EPF delay holding up hotel sale: East West

Post by The Invisible on Mon Aug 20, 2018 11:08 am

Thanks Nihal. EAST Directors continue to play with this stock based on this announcement saga. Wonder what the regulator is doing and has they taken any action over this unethical practice.
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Post by Ethical Trader on Mon Aug 20, 2018 5:49 pm

Thanks Invisible.
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