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The Investor Sentiment - Equity and investments forum for Sri Lankans

The Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSEThe Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSE

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» CIFC Dumps to Expand Your Possibilities to Pass Your Exam
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» CCS.N0000 ( Ceylon Cold Stores)
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Hotels Corp. in deal with Forbes-list billionaire Binod’s Zinc Hospitality EmptyWed Apr 19, 2023 6:41 am by කිත්සිරි ද සිල්වා

» Dividend Announcements
Hotels Corp. in deal with Forbes-list billionaire Binod’s Zinc Hospitality EmptyWed Apr 12, 2023 5:41 pm by කිත්සිරි ද සිල්වා

» MAINTENANCE NOTICE / නඩත්තු දැනුම්දීම
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» SEYB.N0000 (Seylan Bank PLC)
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» THE LANKA HOSPITALS CORPORATION PLC (LHCL.N0000)
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» COMB.N0000 (Commercial Bank of Ceylon PLC)
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» AHPL.N0000
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» TJL.N0000 (Tee Jey Lanka PLC.)
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» COMMERCIAL DEVELOPMENT COMPANY PLC (COMD. N.0000))
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» CSD.N0000 (Seylan Developments PLC)
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» Bakery Products ?
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» NTB.N0000 (Nations Trust Bank PLC)
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» Going South
Hotels Corp. in deal with Forbes-list billionaire Binod’s Zinc Hospitality EmptySat Mar 04, 2023 10:47 am by කිත්සිරි ද සිල්වා

» When Seagulls Follow the Trawler
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» Re-activating
Hotels Corp. in deal with Forbes-list billionaire Binod’s Zinc Hospitality EmptySat Feb 25, 2023 5:12 pm by කිත්සිරි ද සිල්වා

» අපි තමයි හොඳටම කරේ !
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Hotels Corp. in deal with Forbes-list billionaire Binod’s Zinc Hospitality EmptyTue Jan 03, 2023 6:43 pm by ruwan326

» SAMP.N0000 (Sampath Bank PLC)
Hotels Corp. in deal with Forbes-list billionaire Binod’s Zinc Hospitality EmptyWed Nov 30, 2022 8:24 am by කිත්සිරි ද සිල්වා

» APLA.N0000 (ACL Plastics PLC)
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» AVOID FALLING INTO ALLURING WEEKEND FAMILY PACKAGES.
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» Banks, Finance & Insurance Sector Chart
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» VPEL.N0000 (Vallibel Power Erathna PLC)
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» WATA - Watawala
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» Capital Trust Broker in difficulty?
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» IS PIRATING INTELLECTUAL PROPERTY A BOON OR BANE?
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» What Industry Would You Choose to Focus?
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» Should I Stick Around, or Should I Follow Others' Lead?
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    Hotels Corp. in deal with Forbes-list billionaire Binod’s Zinc Hospitality

    First Guy
    First Guy


    Posts : 2599
    Join date : 2014-02-22

    Hotels Corp. in deal with Forbes-list billionaire Binod’s Zinc Hospitality Empty Hotels Corp. in deal with Forbes-list billionaire Binod’s Zinc Hospitality

    Post by First Guy Mon Sep 01, 2014 6:50 am

    * Global giant to invest Rs. 250 m for 50% of subsidiary to boost rest houses

    Ceylon Hotels Corporation PLC has entered into an agreement with Zinc Hospitality Lanka Ltd., which is part of Cinnovation/CG Group, a multi-dimensional conglomerate with a portfolio of complementary business comprising over 90 companies and 60 brands in the global market.

    As per the deal, Hotels Corp has incorporated a joint venture Ceylon Holidays Holdings Ltd., which is currently a fully owned subsidiary. Zinc Hospitality Lanka will invest Rs. 250 million for 50% equity of the joint venture.

    Ceylon Holidays Holdings is the holding company of CHC Rest Houses Ltd., and the two parties have agreed to jointly develop the properties under the CHC Rest Houses Ltd.
    Sanjeev Gardiner linked Ceylon Hotels Holdings and related parties own around 75% stake in Ceylon Hotels Corp., whilst EPF holds 12% stake.

    Singapore headquartered Cinnovation/CG Group is founded by Nepalese billionaire Binod K. Chaudhary and has interests in FMCG, cement, electronics, education, biotech, food, realty, telecom, energy and financial services apart from hospitality. With operations in 20 countries, it employs over 7,700 people.

    In May last year the Nepal’s sole Forbes-list billionaire Chaudhary expressed strong confidence in post-war Sri Lanka’s future potential and he was walking the talk with a range of new investments, with a desire for speedy facilitation.

    Binod already has considerable investments in Sri Lanka, including a major equity stake in owning company of Taj Samudra, Taj Exotica and Vivanta hotels in Sri Lanka (as well as Maldives) and two Jetwing resorts (Vil Uyana and Jetwing Sea) among others.

    http://www.ft.lk/2014/09/01/hotels-corp-in-deal-with-forbes-list-billionaire-binods-zinc-hospitality/

      Current date/time is Sat Nov 16, 2024 3:10 pm