Underperforming enterprises
Schedules of underperforming enterprises to come under purview of
state for proposes of reviving.
Shedule I
Hotel Developers (Lanka) PLC (PQ 143)
Contingent liabilities to the tune of approximately Rs 12 Bn
(including interest) has accrued as of end 2010, on account of loans
paid by the GOSL for and on behalf of HDL. Having requested to pursue
repayment, HDL has proposed to pay over 18 years. The Government owns
around 65 percent of equity in HDL. GOSL is entangled in protracted
litigation (around 15 cases) for almost 20 years, with no hope of a
resolution. It is a known fact that the construction of the Hotel itself
was not properly done, with floors missing.
Schedule II
Underutilized Assets
1. Property situated at Pettah - Charmers Granaries
Given for Urban Development to Developers and what has happened is
that the old warehouses have been given on rent/lease and income earned
without a proper development taking place. Hence very valuable has
remained underutilized.
2. Properties situated at Badulla - Colombo Commercial Company
Post privatization disputes including a pending Arbitration
consequent to which the lands are idle/ underutilized.
3. Properties situated at Pettah and Narahenpita - Lanka Tractors
Limited
Lanka Tractors was privatized in the late nineties but the
privatization did not bring about the intended results in the national
interest consequent to which two valuable lands remain idle/
underutilized and need to be vested with the State.
4. Land comprising of Pelwatte Sugar Industries Limited
Pelwatte privatized in 2002 and approx 6300 Hec. (nuclcus 2700 +
balance to be given to outgrowers) of land are not being used for the
identified purpose of the privatization and underutilized and needs to
be ensured good use in the national interest.
5. Land comprising of Sevanagala Sugar Industries Limited
Sevanagala Sugar Industries which is Mahaveli Land, was given to the
private sector, but the privatization did not bring out the intended
results in the public interest.
Further, the Board of Investment, has granted extensive concessions,
which has not derived results in the national interest. The lands are
not being used for the identified purpose and grossly underutilized.
6. Sinotex (Lanka) Ltd
State land in the Katunayake Export Processing Zone given to a third
party the business operations have ceased for many years.
7. Jaqalanka Limited
State land in the Katunayake Export Processing Zone given to a third
party with extensive concessions granted by the Board of Investment the
business operations have ceased for many years.
8. Plymouth Industries (Private) Limited
State land in the Katunayake Export Processing Zone given to a third
party with extensive concessions granted by the Board of Investment the
business operations have ceased for many years.
9. Cosmos Macky Industries Limited
State land in the Export Processing Zone given to a third party the
business operations with extensive concessions granted by the Board of
Investment have ceased for many years.
10. Kabool Lace (Private) Limited
State land given to a third party with extensive concessions granted
by the Board of Investment, the business operations of which have ceased
for many years.
11. Former Cashew Corporation Land
Board of Investment land which is prevented from being given over for
investment purposes as it has originally being vested for a public
purpose.
12. Intertrade Lanka (Private) Limited
UDA land given for a mega mix development project with extensive
concessions granted by the Board of Investment, which is not being used
for the given purpose but only used to rent out a convention center
build with a minimum investment.
13. Suchir Neb Projects (Private) Limited
UDA land given for a mega mix development project with extensive
concessions granted by the Board of Investment, which is not being used
for the given purpose but remain idle.
14. Ceylinco Leisure Properties Limited (No 134, Galle Road, Colombo
03)
UDA land given for a mega mix development project with extensive
concessions granted by the Board of Investment, but a partially
completed, dilapidated building is standing idle for many years.
Many parties, both local and foreign who have reserved apartments
after paying heavy down payments, have been taken for a ride.
15. Seetha's Fashion (Private) Limited
State land given to a third party under the 200/50 Garment Projects,
with extensive concessions granted by the Board of Investment but the
business operations of which have ceased for many years.
16. D C Appearel (Private) Limited
State land given to a third party under the 200/50 Garment Projects,
with extensive concessions granted by the Board of Investment but the
business operations of which have ceased for many years.
17. Needle Crafts (Private) Limited
State land given to a third party under the 200/50 Garment Projects,
with extensive concessions granted by the Board of Investment but the
business operations of which have ceased for many years.
18. HY Fashion Garments (Private) Limited
State land given to a third party under the 200/50 Garment Projects,
but the business operations of which have ceased for many years.
19. Collins Garment (Private) Limited
State land given to a third party under the 200/50 Garment Projects,
with extensive concessions granted by the Board of Investment but the
business operations of which have ceased for many years.
20. Ruhunuputha Apparels (Private) Limited
State land given to a third party under the 200/50 Garment Projects,
with extensive concessions granted by the Board of Investment but the
business operations of which have ceased for many years.
21. Sanjaya Garments (Private) Limited
State land given to a third party under the 200/50 Garment Projects,
with extensive concessions granted by the Board of Investment but the
business operations of which have ceased for many years.
22. MACEA Appeal (Private) Limited
State land given to a third party under the 200/50 Garment Projects,
with extensive concessions granted by the Board of Investment but the
business operations of which have ceased for many years.
23. Yobeedha Associates (Private) Limited
State land given to a third party for Fruit Processing, with
extensive concessions granted by the Board of Investment but the
business operations of which have ceased for many years.
24. Dynamic Clothing (Private) Limited
State land given to a third party in the Miriggawela Industrial park
to manufacture garments for exports, with extensive concessions granted
by the Board of Investment but the business operations of which have
ceased for many years.
25. 609 Polymers Exports (private) Limited
State land given to a third party in the Seethawaka Export Processing
Zone for export manufacturing, with extensive concessions granted by the
Board of Investment but the business operations of which have ceased for
many years.
26. Cosco Polymer Lanka (Private) Limited
State land given to a third party in the Seethawaka Export Processing
Zone for export manufacturing, with extensive concessions granted by the
Board of Investment but the business operations of which have ceased for
many years.
27. Great Wall Thread Manufacturing (Private) Limited
State land given to a third party in the Seethawaka Export Processing
Zone for export manufacturing, with extensive concessions granted by the
Board of Investment but the business operations of which have ceased for
many years.
28. Adamjee Extractions (Private) Limited
State land given to a third party in the Wagawatte Industrial Park
(Horana) for export manufacturing, with extensive concessions granted by
the Board of Investment but the business operations of which have ceased
for many years.
29. Data Food (Private) Limited
State land given to a third party in the Wagawatte Industrial Park
(Horana) for export manufacturing, with extensive concessions granted by
the Board of Investment but the business operations of which have ceased
for many years.
30. Tendon Lanka (Private) Limited
State land given to a third party in the Kandy Industrial Park for
export manufacturing, with extensive concessions granted by the Board of
Investment but the business operations of which have ceased for many
years.
31. Rican Lanka (Private) Limited
State land given to a third party in the Malwatte Export Processing
Zone for export manufacturing, with extensive concessions granted by the
Board of Investment but the business operations of which have ceased for
many years.
32. Composite Tower Solutions (Private) Limited
State land given to a third party in the Meerigama Export Processing
Zone for export manufacturing, with extensive concessions granted by the
Board of Investment but the business operations of which have ceased for
many years.
33. Health Food Products (Private) Limited
State land given to a third party in the Meerigama Export Processing
Zone for export manufacturing, with extensive concessions granted by the
Board of Investment but the business operations of which have ceased for
many years.
34. Sri Chirag (Private) Limited
State land given to a third party in the Meerigama Export Processing
Zone for export manufacturing, with extensive concessions granted by the
Board of Investment but the business operations of which have ceased for
many years.
35. Royale Exports (Private) Limited
State land given to a third party in the Meerigama Export Processing
Zone for export manufacturing, with extensive concessions granted by the
Board of Investment but the business operations of which have ceased for
many years.
36. Continental Vanaspathi (Private) Limited
State land given to a third party in the Wathupitiwala Export
Processing Zone for export manufacturing, with extensive concessions
granted by the Board of Investment but the business operations of which
have ceased for many years.
|
