JKH Big Bang

John Keells Holdings entered the property market with a bang by taking a stake in Asian Hotels for Rs. 4 bn.
The acquisition of the 60 percent stake gives JKH control of the Colombo Plaza hotel while Asian Hotels also owns a significant stake in the Trans Asia hotel.rn

rnThe hotel acquisitions will show up the groups tourism interest while opening up opportunities in real estate.rn

rnJKH says that the acquisition will help boost group earnings beyond market expectations.rn

rnThe foreign investors in Asian hotels exited from the firm, with John Keells paying Rs. 30 for a share.rn

rnAsian Hotels stocks closed at Rs. 28 up by Rs. 5.50 on Friday.rn

rnThe JKH deal also boosted market turnover to a record Rs. 4.8 bn the highest seen at the Colombo bourse in a day.rn

rnAnalysts say that the All share indexs high of 1378 points in March 1994 could also be broken by the end of the year. rn

rnRecord low interest rates have also given rise to more people investing in the stock market and the trend i