Twenty four on Default Board

Not submitting Annual Reports on time to cse:

Ravi Ladduwahetty

A total of 24 listed corporates are now on the Colombo Stock Exchange Default Board for a wide variety of reasons, principally for not submitting their Annual Reports to the Exchange on time, “The Exchange has contacted the key personnel of all these listed corporates and we will act according to the listing rules of the Exchange,” CSE’s Business Development Manager Thushara Jayaratne told Daily News Business yesterday.

Hotel Developers (Lanka) PLC (the holding company of the Hilton Colombo) has been transferred to the CSE default board on December 12, 2002 for the non submission of Annual Report for the for the year ended December 31, 2007 the non payment of debenture interest - third instalment in respect of the period ending December 10, 2002, the interest for the periods ending December 10, 2003, December 10, 2004, December 10, 2005, December 10, 2006 and December 10, 2007.

Alufab Ltd has been transferred to the default board on September 9, 2003 for the non submission of Annual Reports for the year ended March 31, 2004 to March 31, 2008 and non submission of financial statements for the quarters ended June 30, 2003 to June 30, 2008.

Infrastructure Developers Ltd has been transferred to the default board on October 28, 2004 for the non submission of Annual Reports for the year ended March 31, 2006 to March 31, 2008 and non submission of Financial Statements for the half - year ended September 30, 2005 to March 2008 31.

Ferntea Ltd has been transferred on November 2, 2005 for the non submission of Annual Reports for the year ended March 31, 2006 to March 31, 2008 and for non submission of Financial Statements for the quarters Ended June 30, 2007 to June 30, 2008.

Lanka Cement PLC has been transferred on July 6, 2007 for non submission of Annual Reports for the for the years ended December 31, 2006 and 2007 and non Submission of Financial Statements for the quarters ended December 31, 2007 to June 30, 2008.

Asia Capital PLC has been transferred on October 5, 2007 for the non submission of Annual Reports for the years ended March 31, 2007 and -March 31, 2008.

Ceylon Theatres PLC on June 9, 2008 for the non submission of Financial Statements for the quarters ended March 31, 2008 and June 30, 2008.

The twelve companies which have been transferred to the default board for the non submission of Annual Reports to the Exchange for the for the year ended March 31, 2008 are: Miramar Beach Hotels PLC on June 9, 2008

Blue Diamonds Jewellery Worldwide Ltd, Kshatriya Holdings PLC,, Ceylinco Finance PLC, Colonial Motors PLC, E B Creasy & Company PLC, East West Properties Ltd, Hotel Services (Ceylon) PLC Huejay International Investments PLC, Lankem Ceylon PLC, Muller & Phipps (Ceylon) PLC, Singalanka, Standard Chemicals PLC and First Capital Holdings PLC.