Information posted in this forum are entirely of the respective members' personal views. The views posted on this open online forum of contributors do not constitute a recommendation buy or sell. The site nor the connected parties will be responsible for the posts posted on the forum and will take best possible action to remove any unlawful or inappropriate posts.
All rights to articles of value authored by members posted on the forum belong to the respective authors. Re-using without the consent of the authors is prohibited. Due credit with links to original source should be given when quoting content from the forum.
This is an educational portal and not one that gives recommendations. Please obtain investment advises from a Registered Investment Advisor through a stock broker
The Employees’ Provident Fund (EPF) is in talks about the sale of Marriott Weligama Bay Resort & Spa with Weligama Hotel Properties Limited (WHPL) which is owned by East West Properties PLC.
A statement said the EPF Department had got a letter from the Chairman of WHPL in June 2018 to sell its stake in the hotel situated in Weligama Bay, a popular tourist resort, to HPL Properties Group.
East West Properties had signed a letter of intent to sell 72% of the shares of Weligama Hotel Properties Ltd. to HPL Hotels and Resorts Pte Ltd Singapore.
“The Monetary Board of the Central Bank of Sri Lanka has decided to obtain a valuation of EPF’s equity stake in WHPL and the valuation process is currently in progress,” the statement said.
“A comprehensive valuation would be essential to determine the value of EPF’s stake in WHPL prior to divesting, in order to ensure an adequate return to the Fund to maximize the benefits for its members.”
- Posts : 1411
Join date : 2016-11-28
Age : 40