Year: 2008

GMR Infrastructure has announced that Istanbul’s Sabiha Gokcen International Airport Investment Development and Operations – the company formed by the consortium of GMR Infrastructure (40%), Limak Holdings (40%) and Malaysia Airports Holdings Berhad (20%), which bid for and won the 20-year operation rights of Sabiha Gokcen International Airport, has started its operations and investments for the construction and management of a 10 million capacity terminal.

The consortium has 20-year operation rights of Sabiha Gokcen International Airport.

Real Estate major, Omaxe Ltd has entered into MOU for establishing and operating SPA and massage knowledge centre, SPA and massage techniques and but not limited to other related services under the name of Thai Privilege Spa in New Delhi and Northern India.

The company has enterd into Spa Franchise agreement for establishing and operating of SPA outlet of Thai Privilege Spa in Noida, India and with Thai Privilege Consultant, a central group of Thailand which is a group of international repute.

Reliance ADAG’s Adlabs Films has entered into agreement for acquisition of majority and controlling interest in Lotus Five Star Cinemas and will be operating a 51 screen cinema exhibition chain in Malaysia.

The chain will have a footprint across the Malaysia and will be playing mainstream Hollywood films in addition to movies in the Indian languages viz. Hindi, Tamil, Chinese and Malay.

Adlabs currently has 160 screens operating in India. Its international presence, in addition to Malaysia, comprises 220 screens covering the East, Mid West and West Coast of USA as also Mauritius and Nepal.

Bharati Shipyard’s 4Q08 PAT was Rs327m (up 6% yoy) on revenue of Rs2.06bn (up 30% yoy). OPM stood at 27.3% compared to 33.1% in the previous-year corresponding period. This arose from higher subsidy being booked in the same quarter the previous year. Adjusted for this, the overall margin has improved.

The order book, at Rs46.35bn, has stagnated in the past six months, largely as capacities are running at optimum utilization. Management intends to procure further orders once additional progress on the Dabhol capex is made.

The Mangalore shipyard is scheduled to commence operations by Sep.-Oct.’08 (against 1Q09 earlier), and would be fully commissioned by Mar.’10. The yard at Dabhol has touched 25%
utilisation and is expected to reach its peak after FY10.