Thu, 19 May 2022 Today's Paper

RIL places FoodBuzz as ‘non current asset held for sale’

2 June 2021 02:30 am - 0     - {{hitsCtrl.values.hits}}

A A A

FoodBuzz Pvt. Ltd., the local franchisee of Singapore based boutique bakery chain, has its classification changed from a ‘subsidiary’ to ‘non-current asset held for sale’, the interim financial accounts of the R I L Property PLC (RIL) said.


Earlier in March, RIL announced its decision to fully dispose the 100 percent stake held in FoodBuzz.
RIL stated that the carrying value of the investment would be recovered principally through a sale transaction rather than through continuing use.


The negotiation process with a potential investor who intends to acquire 100 percent of the shares of FoodBuzz has already been kicked off by RIL.


The temporary suspension of FoodBuzz’ operations as announced in March has not been implemented as yet.
In the food processing and other related services segment, RIL saw its revenue contracting by about 58 percent during the financial year ended March 31, 2021, to Rs.169.9 million from a year ago.


The food segment posted a net loss of Rs.189.5 million for the year, expanding its losses by 183 percent from a year ago.

 

Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.

  Comments - 0

Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.


Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.


Constitutional Reform for ‘System Change’

A peaceful democratic ‘revolution’ is sweeping across Sri Lanka. It is a

Linus Jayatilake (Sept. 1942 - May 2022): A Comrade of all Working PeopLe

I first met Linus Jayatilake about a decade ago as some of us began engaging

Sri Lanka – In Lee Kuan Yew’s words

Lee Kuan Yew’s views about Sri Lanka have been published in three books, th

The Three Universal Truths in Buddhism

Buddhism is a moral and philosophical system, which expounds a unique path of