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Taprobane Holdings PLC upon recent changes in ownership is in the process of exploring ways to maximize utilization and optimize the returns of group’s subsidiary company owned iconic property at Union Place, Colombo 02.
The company owns a controlling stake of Colombo City Holdings PLC (Former Colombo Pharmacy PLC) via Lanka Century Investments PLC and the Colombo City Holdings PLC owned iconic property of 105.75 perches carry a value of more than Rs. 1 billion, according to the company’s financials. Taprobane’s Managing Director Murali Prakash in the latest financials says that they are currently in the process of exploring ways to maximize utilization and optimize the returns on similar assets.
“With the positive momentum in the real estate sector in Sri Lanka and in a bid to enhance returns for our shareholders, we continually assess and evaluate the opportunities that may arise in niches and segments that are profitable for the Group,” he adds in his review.
Taprobane Group’s financial services segment includes money broking, stock broking and bond trading. The company has a long history in bond trading over 20 years’ in the bond market. Its money broking arm holds a commendable market share. The operations of these sectors are dependent on the interest rate movements and investor sentiment and are more vulnerable to market fluctuations.