According to the bank's website, "The proposed facility of US$175 million USD Senior Secured Loan to JKH (the Project”) is to fund the following investments in an optimum manner: (i) the expansion of its supermarket chain, (ii) the completion/expansion/refurbishment/ expansion of hotel properties in Sri Lanka and the Maldives, and (iii) general corporate uses associated with JKH’s retail and leisure businesses.
At the time of the appraisal, the refurbishment was ongoing at the following resorts and thus they were covered in the scope:
The refurbishment of Bentota Beach and Maldives resorts and is completed and refurbished hotels are operational since Dec 2019. The other hotels covered in the appraisal were Trinco Blu and Cinnamon Citadel in Sri Lanka."
According to IFC, "JKH has over 70 subsidiaries of which eight subsidiaries, namely Asian Hotels and Properties PLC, Ceylon Cold Stores PLC, Keells Food Products PLC, John Keells PLC, John Keells Hotels PLC, Tea Smallholder Factories PLC (management control), Trans Asia Hotels PLC and Union Assurance PLC, are also listed on the Colombo stock exchange. JKH has a broad shareholding, of which 99.2 % is free float."
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|-||-||-||-||John Keells Holdings PLC||Client||-|
John Keells Holdings PLC
Ms Nisreen Remanjee, Executive Vice President
+94 718 440117
117, Sir Chittampalam A. Gardiner, Mawatha, Colombo 02, Sri Lanka
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