Joint-venture Partnership:

Lankem

A Partnership between Lankem Ceylon Plc and Weligama Bay Beach Hotel was undertaken under a restructuring programme by IRC.  Provided strategic consultancy, co-ordination and negotiation to successfully complete the above Partnership.   Accordingly Lankem Ceylon Plc took over 55 per cent of shares and the management of the Hotel,

Settled all the liabilities of the Hotel,  saved the Hotel from becoming defunct and transformed the Hotel into a viable venture.  Its market capitalization that was nil before the Partnership,  became remarkably high in the Stock Market of Sri Lanka within one year of commencing the Partnership - ( June,2010).

IRC (Pvt) Ltd. having  studied the progress of the new Partnership,  recommenced that a refurbishment  programme of the Hotel is vital for its economic growth and efficiency y and sustainability with an investment of  over  Rs.100 m.  Due the inability of the minority shareholder to share the investment, it was decided to acquire the  minority shareholdings in full  to have overall control of the hotel and its management.  Today Lankem Ceylon Plc owns the hotel and the proposed refurbishment  is underway with no hassle  Refurbishment programme includes modification of the existing rooms and  construction of additional rooms to cater to the existing and future demand. (February, 2012).

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