The Sri Lanka State-Owned Enterprise Restructuring Unit (SOERU) has issued a statement clarifying what it said were inaccurate reports on the divestitures of Hotel Developers Lanka Ltd (HDL) and Sri Lanka Telecom PLC (SLT).
Contrary to reports, the land involved in the divestiture of HDL, the owning company of the Colombo Hilton, amounts to 4.61 acres, with an additional 1.875 acres to be leased, not 7 acres as claimed, SOERU said.
Dismissing the claim of a USD 124 million valuation, the statement said that the Government Chief Valuer’s previous assessment was in Sri Lankan Rupees and was lower than its current valuation.
Additionally, negotiations for HDL’s financial offer are still ongoing, and no final price has been agreed upon, it said.
The SOERU also stressed on the transparency of the divestiture process, dismissing allegations of political interference and financial irregularities.
The divestitures follow publicly accessible guidelines approved by the Cabinet of Ministers, ensuring a credible process, they said.
Responding to concerns of financial irregularities concerning the SLT’s asset valuation process, SOERU highlighted the rigorous audit procedures and oversight by the Colombo Stock Exchange and shareholders, which it said ensured integrity in financial reporting.
The Government unit said that it remains committed to transparency, inviting any political party with concerns about the state-owned enterprise reform program to seek clarification with the SOERU. (Newswire)
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