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Old January 31st, 2018, 04:58 AM   #1
raji j
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Colombo | Tri-Zen (By JKH) | 51/53/51 fl | Proposed

Tough times as JKH profits dip




  • Premier blue chip's 3Q pre-tax profit down 13% to Rs. 5.8 b; nine months figure dips 4% to Rs. 14.8 b

Diversified blue chip John Keells Holdings Plc (JKH) has suffered a 13% dip in pre-tax profit in the third quarter of the current financial year, dragging the first month’s figure down by 4%.

As per the interim results released yesterday, JKH’s consolidated pre-tax profit for the third quarter declined by 13% to Rs. 5.8 billion whilst the post-tax profit was Rs. 4.8 billion, down by 15% from a year earlier and net profit attributable to equity holders of the parent declined by a similar percentage to Rs. 4.49 billion.

Group revenue in the third quarter however was up 12% to Rs. 31.2 billion. Cost of sales has increased by 23% to Rs. 24.3 billion resulting in gross profit declining by 15% to Rs. 6.8 billion. Results from operating activities were down by 32% to Rs. 2.4 billion. Finance income was down 1% to Rs. 2.6 billion.

The cumulative revenue for the first nine months of the financial year 2017/18 at Rs. 87.66 billion is an increase of 15%.

The Group pre-tax profit was down 4% to Rs. 14.87 billion. After-tax profit was down 5% to Rs. 11.8 billion. The profit attributable to shareholders in the first nine months at Rs. 11 billion was down by 2% from a year earlier.

See page 2 for a review of the performance of segments of JKH by Chairman Susantha Ratnayake.

Transportation

The Transportation industry group PBT of Rs. 945 million in the third quarter of 2017/18 is an increase of 12% over the third quarter of the previous financial year (2016/17 Q3: Rs. 845 million). During the calendar year 2017, the Port of Colombo witnessed a year-on-year growth of 8% whilst South Asia Gateway Terminals (SAGT) recorded a growth in throughput of 11%.

The market share and profits of the Group’s bunkering business increased as a result of a double-digit growth in volumes. The performance of the logistics business was in line with expectations. A new 57,000 sq. ft. warehouse was commissioned in Enderamulla during the quarter under review. DHL Keells recorded an improvement in performance driven by growth in its active customer base.
Leisure
The Leisure industry group PBT of Rs. 901 million in the third quarter of 2017/18 is a decrease of 34% over the third quarter of the previous financial year (2016/17 Q3: Rs. 1.36 billion). The decline in profitability is mainly attributable to the City Hotel sector which witnessed a decline in occupancies primarily as a result of the increase in room inventory within Colombo.

However, it is encouraging that the total number of rooms occupied in the city witnessed double-digit growth in the quarter under review. Whilst the Sri Lankan Resorts segment recorded an improvement in room rates and maintained occupancies, profit for the quarter under review was lower when compared to the corresponding period of the previous financial year which included the operations of Bentota Beach by Cinnamon which is now closed for the construction of a new hotel.

The Maldivian Resorts segment recorded an improvement in average room rates, although profitability was impacted by lower occupancies and the partial closure of Ellaidhoo Maldives by Cinnamon for refurbishments in October 2017. However, occupancies at our hotels remained above the industry average during the quarter under review.
Property
The Property industry group PBT of Rs. 34 million in the third quarter of 2017/18 is a decrease of 83% over the third quarter of the previous financial year (2016/17 Q3: Rs. 196 million). The decline in profitability is on account of the third quarter of the previous year which included recognition of revenue on the ‘7th Sense’ on Gregory’s Road residential development. The construction of Cinnamon Life is progressing well with the super structure approximately 50% complete.

Parallel to the ongoing construction work of the super structure, the installation of the façade of the hotel will commence shortly. The construction work on the main access point via a six-lane bridge is nearing completion. The pre-sales of both the residential and commercial space continues to be encouraging.

The design concept for the new 800-apartment joint venture residential development project ‘Tri-Zen’ in Union Place, Colombo has been finalised whilst the schematic designs are currently underway. This unique development will target a broader section of the market with apartments offered at attractive price points. Pre-sales have commenced and initial bookings are very encouraging.
Consumer Foods and Retail
The Consumer Foods and Retail industry group PBT of Rs. 947million in the third quarter of 2017/18 is a decrease of 26% over the third quarter of the previous financial year (2016/17 Q3: Rs. 1.29 billion). The decline in profitability is on account of the Consumer Foods sector and to a lesser extent the Retail sector.

The Beverage and Frozen Confectionery businesses recorded a decline in volumes as a result of continued tapering of demand arising from subdued consumer discretionary spending. The volume decline in the beverage business was further exacerbated by the implementation of a sugar tax from November 2017, which resulted in substantial price increases across the industry.

Whilst over the years the company has taken measures to reduce a significant quantum of sugar in its beverages, it will continue to aggressively expand its low sugar product range by accelerating the launch of such new products. As a continuing part of its beverage portfolio strategy, it will also launch more non-carbonated beverages to broaden our offerings. Keells Food Products Plc recorded an increase in profitability on account of a better sales mix.

The Retail sector recorded growth in footfall contributing towards a year-on-year growth in same store sales, although profitability was impacted by store expansion related costs and promotional expenses. During the quarter under review, three new outlets were opened, bringing the total store count to 72 as at 31 December 2017.

The stores opened during the quarter featured the new branding which will be rolled out to the existing stores as well in the ensuing quarters. The branding initiative encompasses new elements to the store in line with evolving consumer needs which the company is confident will drive footfall, although this impacted the rollout of the store openings for the quarter under review.
Financial Services
The Financial Services industry group PBT of Rs. 1.54 billion in the third quarter of 2017/18 is an increase of 35% over the third quarter of the previous financial year (2016/17 Q3: Rs. 1.14 billion). The increase in profitability is on account of the performance of Union Assurance Plc, where gross written premiums recorded strong growth above industry average whilst Nations Trust Bank recorded sound loan growth during the quarter under review.
Information Technology
The Information Technology industry group PBT of Rs. 86 million in the third quarter of 2017/18 is a decrease of 56% over the third quarter of the previous financial year (2016/17Q3: Rs. 195 million). The corresponding quarter of the previous year included profits of the Group’s BPO business which was divested in September 2017. The Office Automation businesses recorded a decline in profitability on account of lower volumes in its product segments.
Other, Including Plantation Services
Other, comprising the Holding Company and other investments, and the Plantation Services sector, recorded a PBT of Rs. 1.37 billion in the third quarter of 2017/18, which is a decrease of 19% over the third quarter of the previous financial year (2016/17 Q3: Rs.1.70 billion).

The decrease in PBT is mainly attributable to lower exchange gains recorded at the company on its foreign currency denominated cash holdings compared to the corresponding quarter of the previous financial year. The performance of the Plantation Services sector was impacted by trading losses due to a decline in tea prices within the quarter under review.
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Old January 31st, 2018, 06:44 AM   #2
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"Nadeem Shums, Head of Market Development then presented John Keells Properties newest housing project - TRI-ZEN. John Keells Properties’ latest project focuses on metropolitan spaces that cater to the needs of Colombo’s growing class of working elite. From Union Place, TRI-ZEN’s residents will have immediate access to the city’s best hospitals, restaurants, schools, hotels, shopping malls and more. Moreover, its central location takes hours spent in traffic out of the equation-which means residents can luxuriate in the extra time freed up every day to spend time with family and friends.

TRI-ZEN’s apartments are based on smart design principles to maximize space and comfort, and this efficient design allows these apartments to be affordably priced. Common open spaces are a key design feature throughout the property; the perfect spaces for conversation, relaxation and contemplation. This green urban escape is designed for both solitude and company- stay in on a Sunday and enjoy the city’s drowsy reverie or go out on a Friday night to one of the many cafes, bistros and restaurants situated only minutes away.

http://www.timeslanka.com/wp-content...N-JAN-2018.pdf
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Old February 8th, 2018, 01:14 PM   #3
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JKH finalises design for 800-apartment Tri-Zen in Union Place
1 February 2018

John Keells Holdings (JKH) has finalised the design concept for the new 800-apartment joint venture residential development project Tri-Zen in Union Place, Colombo 2 with Indra Holdings.

JKH Chairman Susantha Ratnayake said schematic designs are currently underway for Tri-Zen, which is a unique development that will target a broader section of the market with apartments offered at attractive price points.

“Pre-sales have commenced and initial bookings are very encouraging,” he added.

read more:
http://www.ft.lk/front-page/JKH-fina...lace/44-648533
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Old February 17th, 2018, 10:32 PM   #4
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John Keells Propertiesretains bullish streak on real estate with new residential development TRI-ZEN



The project is expected to be completed by 2023

http://www.island.lk/index.php?page_...e_title=180096
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Old February 19th, 2018, 06:58 AM   #5
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https://www.trizen.lk/
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Old February 19th, 2018, 04:07 PM   #6
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http://www.lankabusinessnews.com/joh...pment-tri-zen/


Quote:
Originally Posted by Dueler View Post
Quote:
Originally Posted by Dueler View Post

I contacted JKH properties. Tri Zen is going to be 3 towers with 51 floors each. Location will be the land next to OnThree20 and Empire. Towers will have access from both Union Place and BrayBrooke place... 880 units with middle tower having double of other towers.

I think the location is those sheds with vehicles parked in above photos...
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Old March 15th, 2018, 08:29 AM   #7
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Is this same project or new one????



Finlays enters JV with JKH to develop Vauxhall Street land


Finlays Colombo Limited has entered into a joint venture agreement with two wholly-owned subsidiaries of the John Keells group for the development of its land at 186, Vauxhall Street.
The commencement of the joint venture is subject to satisfaction of conditions precedent, including approvals from or filings with relevant authorities, a Finlays Colombo media statement said.


In 2008, Finlays, JKH and the AMW group entered into a memorandum of understanding to undertake a feasibility study for a combined development of their properties situated adjacent to each other in Colombo 2.


However, the plans didn’t see the light of day.
“We are ready to form a joint venture with the John Keells group to embark on a very exciting development project in the heart of Colombo,” Finlays Colombo Chairman/Managing Director Hunter Crawford said.

“We believe that property development in Colombo 2 has significant long-term growth potential. The ultimate parent company of Finlays Colombo, the Swire Group, has a successful track record in property development in several parts of the world and Finlays will undoubtedly benefit from working with the John Keells group, which has substantial local property development experience,” he added.
When the joint venture commences, Finlays Colombo Limited will hold a 39.72 percent share and the John Keells group will hold 60.28 percent.


“This is a very exciting addition to our current holdings on Vauxhall Street,” said John Keells Property Group President Suresh Rajendra.


“While we are in the process of drawing the master plan, we will lead with the development of this property in partnership with Finlays Colombo, a reputed business group in Sri Lanka. The project’s progress will be in conjunction with future developments on the adjoining properties and will tie in with our other property development projects spread across Colombo,” he added.


Simultaneously with developing its land bank in Central Colombo, the Finlays group of companies in Sri Lanka is embarking upon a strategic realignment of its business focus.


This realignment will see significantly increased focus on its core tea business—both plantations and export packing—and divestment of its non-tea businesses—insurance, cold store, pest control, hygiene and courier services.


“Our non-tea businesses are all well-run and profitable enterprises in their own right and have done us proud. But with our decision to focus on tea, where Finlays is a global player, we need to find new owners who can take these non-tea businesses to the next level,” said Crawford.


Finlays Colombo also announced a US $ 3.0 million investment in new tea packing equipment for its factory in Welisara.


“This is a significant investment in the capacity of our Sri Lankan tea packing business,” Finlays Colombo Director Gihan Jayasinghe said.


“We are committed to growing our Ceylon Tea business. It is already an important contributor to Finlay’s global product and service portfolio and we have plans for further expansion,” he added

http://www.dailymirror.lk/article/Fi...d--147275.html
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Old May 10th, 2018, 09:18 PM   #8
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This project has three towers with 51,53 and 51 floors

Source: https://www.trizen.lk/


Mods, pls thread title to

Colombo | Tri-Zen (By JKH) | 51/53/51 fl | Proposed
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Old August 13th, 2018, 12:19 PM   #9
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https://www.trizen.lk/
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Old August 13th, 2018, 02:31 PM   #10
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https://www.trizen.lk/location-and-convenience.html

is this going to be located between Altair & CCC?
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Old August 14th, 2018, 03:59 PM   #11
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Quote:
Originally Posted by THE PREDATOR View Post
https://www.trizen.lk/location-and-convenience.html

is this going to be located between Altair & CCC?
Marked location in the map is probably a mistake by the web designer. Earlier news reports said it'll be next to JKH's On320. I think the cleared narrow long plot in this photo is the site.


https://www.instagram.com/p/BmU9_1UB...n-at=776782141
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Old August 15th, 2018, 11:46 AM   #12
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Number of floors: 53
Total Size: 897 Units
Completion Date: 2023

(Estimated) Highlights
Personifying convenience and Smart Living
Ensure a space for hard work and exciting times
Security and Spontaneity
Ideal for smart Families


source:
https://www.lankapropertyweb.com/featured-dev/TRI-ZEN


https://www.trizen.lk/gallery.html
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Old January 12th, 2019, 07:36 PM   #13
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Braybrooke Residencies appoints CSCEC as lead contractor for TRI-ZEN project


Sat, Jan 12, 2019, 07:44 pm SL Time, ColomboPage News Desk, Sri Lanka.

Jan 11, Colombo: Moving rapidly ahead with a major upcoming real estate development in Sri Lanka, Braybrooke Residential Towers (Pvt) Ltd announced that it had appointed China State Construction Engineering Corporation Ltd (CSCEC) as the contractor for its groundbreaking residential project TRI-ZEN.

The culmination of an ambitious joint venture between John Keells Holdings PLC and Indra Traders, the TRI-ZEN project aims to establish a vibrant metropolitan space in the heart of Colombo, providing the city's professionals and entrepreneurs with stylish yet affordably priced apartments incorporating smart design principles to maximize space and comfort without compromising on aesthetic value.



More:
http://www.colombopage.com/archive_1...47302479CH.php
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Old January 28th, 2019, 04:56 PM   #14
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Ground breaking ceremony:



- https://www.facebook.com/harithacon/...type=3&theater
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Old February 12th, 2019, 04:54 AM   #15
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Ground work in Progress!




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Old February 21st, 2019, 03:54 PM   #16
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https://www.instagram.com/p/BuJMvzIAIwP/
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Old February 21st, 2019, 04:49 PM   #17
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This is how it might look when completed. Quite taller compared to the surrounding buildings nearby such as Empire, Onthree20 and access tower 2.


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Old March 13th, 2019, 05:23 AM   #18
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Not an iconic project. The design is too lame. Seems squeezed and all concrete. Glass facade would be more of an added value and futuristic.
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Old March 13th, 2019, 07:26 AM   #19
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Quote:
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Not an iconic project. The design is too lame. Seems squeezed and all concrete. Glass facade would be more of an added value and futuristic.
I agree. A little less concrete and a little more glass on the facade would be a nice touch to the skyline..
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Old March 13th, 2019, 12:42 PM   #20
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Quote:
Originally Posted by ArchEnthusiast View Post
I agree. A little less concrete and a little more glass on the facade would be a nice touch to the skyline..
We need more office towers - which will have more aluminum and glass cladding unlike residential buildings in general..
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