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Sri Lanka Equity Forum » Stock Market Talk » RENTING OFFICE SPACE THE YAHAPALANAYA WAY!

RENTING OFFICE SPACE THE YAHAPALANAYA WAY!

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1 RENTING OFFICE SPACE THE YAHAPALANAYA WAY! on Wed Nov 16, 2016 3:45 pm

samaritan


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
PAYING HIGH RENT FOR AN UNUSED BUILDING AND VEHICLE PARK


It made sensational news when certain authorities took out a lease on a building for a hefty monthly rent of some Rs.290 million to house a high office handling the country’s agriculture. They also had paid the film star owning the building a large sum of money as an advance payment as well.


The authorities who had negotiated this lease transaction had failed to foresee the need of space for vehicle parking, which is not available in the premises taken on lease. As a result, they had had to acquire on rent an adjoining bloc of land to be as the vehicle park at an additional cost of Rs.3. 5 million a month. However, the story does not end here. The high office, for housing which the building was acquired at such a massive cost is yet to be moved into the new premises for want of adequate floor space in it, they say. Although the high office is yet to shift into the new building, the monthly rent for the building and the vehicle park continue as per the agreements, they say.
http://www.dailymirror.lk/119210/Paying-high-rent-for-an-unused-building-and-vehicle-park

jayathu


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
I ashamed to say i voted for these buffoons

samaritan


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@jayathu wrote:I ashamed to say i voted for these buffoons
Same with me. They are in the process of ruining the economy and the nation.

Doesn't the Finance Minister do a cause effect analysis before submitting budget proposals. The budgets are a big joke of the decade!

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Such kind of transactions are totally unacceptable. Fancily sucking the blood of poor people. 
Also, the high value of duty free vehicles. All politicos are completely soundless in this regard as it accrues millions into their pockets.
To whom to be voted next.....??? None..

5 Re: RENTING OFFICE SPACE THE YAHAPALANAYA WAY! on Thu Nov 17, 2016 12:05 pm

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics

nigma


Manager - Equity Analytics
Manager - Equity Analytics
munta hena gahala akulolama pala.............

D.G.Dayaratne


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
I like to vote for a party with SLFP stated policies with JVP discipline

At present most of SLFP Pliticians are highly corrupted

main reason is BASIL and the crowd



worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
None listen & response to outcry of corrupted revelations made by the JVP. Both SLFP/Opposition/UNP are in same boat except few. Very simply they all protect themselves. Voters should understand the current situation before they queue in next polling booth.

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Another issue.
Millions of car rental charges claimed by MPs revealed by the JVP...

10 Re: RENTING OFFICE SPACE THE YAHAPALANAYA WAY! on Fri Nov 18, 2016 9:29 am

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@worthiness wrote:Another issue.
Millions of car rental charges claimed by MPs revealed by the JVP...

Yes. They are claiming exaggerated rates per km ! almost similar to rates charged by 3000cars for weddings .

11 Re: RENTING OFFICE SPACE THE YAHAPALANAYA WAY! on Fri Nov 18, 2016 10:12 am

samaritan


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

12 Re: RENTING OFFICE SPACE THE YAHAPALANAYA WAY! on Fri Nov 18, 2016 9:06 pm

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
රාජගිරි සුදු අලියා තව කෝටි 26ක් ගිලී

කෘෂිකර්ම අමාත්‍යංශය වෙනුවෙන් රාජගිරියෙන් රුපියල් දෙකෝටියකට අධික මිලක් ගෙවා මාසික කුලියට ගෙන ඇති ගොඩනැගිල්ල මෙතෙක් ප්‍රයෝජනයට ගෙන නැත.
ශ්‍රී ජයවර්ධනපුර පාරේ, කෝට්ටේ පිහිටි එම ඩී.පී.ජේ ටවර් ගොඩනැගිල්ල සඳහා  ටෙන්ඩර් කැඳවමින් පසුගිය 16 වැනි බදාදා ඉංග්‍රීසි පුවත්පතක දැන්වීම් දෙකක් පළ කර තිබිණි.

මෙම ටෙන්ඩර් දැන්වීම් මගින් දක්වා ඇති පරිදි ගොඩනැගිල්ලේ ලී භාණ්ඩ සැපයීම හා සවි කිරීම සඳහා රුපියල් මිලියන 140කට ආසන්න කොන්ත්‍රාත්තුවක්ද, කාමර හා කාර්යාල වෙන් කිරීම, කාපට් ඇතිරීම, විදුලි පද්ධති හා වා සැකසුම් A/C සඳහා තවත් රුපියල් මිලියන 112කට ආසන්න කොන්ත්‍රාත්තුවක්ද ලබාදීමට නියමිතය.

This is in addition to monthly rent of 21+ millions.  
This means the 21m rent per month  is for the structure only, not for interior , flooring and M&E / Electrical fixtures including air conditioning  and the car park too. (they are renting a separate space as car park)



http://www.lankadeepa.lk/index.php/articles/481620



If we calculate,
 intended lifetime of this government =4 years ,
4 x 12 x 21 = 1008 million
140 + 112 = 152 million

They should spend  1160m ( 1.1 billion)  and still Babeethas loku baba will be the owner of the building.

---

Don't surprise when they find next : no toilets in this building so that they can hire a set of portable toilets paying more millions per month.

13 Re: RENTING OFFICE SPACE THE YAHAPALANAYA WAY! on Fri Nov 18, 2016 9:50 pm

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
The rental of the building was Rs 21 million per month and the owner was paid 24 months rental in advance, which amounted to Rs 504 million as per the voucher No. 139/4 dated 8 April 2016.

From April, 168 million is already lost as rent for 8 month to date. (November 2016)  It appears that the ministry will have to pay at least Rs 252 million as rental before the ministry can be shifted to the new building.


Inspection report
The Central Engineering Consultancy Bureau was assigned to inspect the building before shifting the ministry there. The Bureau sent its observations in writing to the Secretary to the Ministry of Agriculture in a letter dated 2016-05-10 bearing No. CB/AGM/WP1/2016.

One of the two elevators was defunct and one elevator was not sufficient.
The reason for the non-functioning elevator is reported as lightning and the
* Bureau suspects the lightning conductor is malfunctioning.
* The fire extinguisher system of the building was defunct.
* The electric circuits are overheating.
* Lighting intensity was insufficient.
* The outer glasses were not covered.
* No emergency fire exit !
* No garbage disposal system

The cost for the repair is also over Rs 500 million. The Ministry of Agriculture sources say the minister has submitted a cabinet paper seeking this money.

Although the building is not occupied and damages and inferior fixtures were there before renting it , the repairs are done by the Ministry spending public money , not by the owner !

14 Re: RENTING OFFICE SPACE THE YAHAPALANAYA WAY! on Mon Nov 21, 2016 9:15 am

dennam jambu


Senior Equity Analytic
Senior Equity Analytic
damn inspection report of cecb, when i inspected the old movie heroine  i found she is still attractive, slim, no skin wrinkles .

15 Re: RENTING OFFICE SPACE THE YAHAPALANAYA WAY! on Mon Nov 21, 2016 9:34 am

jayathu


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

16 Re: RENTING OFFICE SPACE THE YAHAPALANAYA WAY! on Mon Nov 21, 2016 9:39 am

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@dennam jambu wrote:damn inspection report of cecb, when i inspected the old movie heroine  i found she is still attractive, slim, no skin wrinkles .

Hmm hmm...  is that means the 'investment' fully worth ?  

BTW, I read they wanted to allocate some more millions to cover the glass panels.

* Lighting intensity was insufficient.
* The outer glasses were not covered.
* No emergency fire exit !

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