Sri Lanka hospital chased by two buyers: report

Feb 06, 2012 (LBO) – A hospital built by Golden Key Credit Card Company, a failed Sri Lankan financial firm is being chased by two business groups, but a depositor association wants more money for the asset, a media report said. The report said a satellite earth station valued at 500 million rupees on a two acre land, a teak plantation and a tea factory would also be advertised for sale. Golden Key Eye & ENT Hospital, has attracted two bids from for 730 million rupees from Richard Pieris group and 780 million from Soflogic group, Sri Lanka’s The Sunday Times newspaper said citing an un-named source.

The newspaper quoted Anusha Emmert, representing a group of depositors at the failed parent firm as saying the bids were too low saying its land and building was worth about 3.0 billion rupees. She said there were 7,200 depositors awaiting payment.

It is not clear what the firm’s liabilities are.

The report said an accounting firm had place placed a valued of 1.25 billion rupees on the hospital and another valuation estimated it to be worth 750 million rupees.

A committee of accountants is overseeing the liquidation of the Golden Key following a Supreme Court order.