Lanka Marine Services Sept 15 Press Release
September 15, 2008 at 3:53 pm · Press Releases
ANNOUNCEMENT – LANKA MARINE SERVICES (PRIVATE) LIMITED (“LMS”)
LMS has handed over the land to the SLPA on 10th September 2008 and has taken all possible steps to remove stocks of oil and lubricants by 12th September 2008 in terms of the orders of Court.
However, due to technical reasons the company was unable to remove oil stocks to the value of approximately USD 184,000 (approximately Rupees Twenty Million), remaining on the land; and in terms of the Court direction the ownership of which will now accrue to the SLPA. Accordingly, approximately Rs. 20,000,000 (Rupees Twenty Million) loss, consolidated, will add to the financial impacts quantified and announced to date.
Oil stocks to the value of USD 416,000 (approximately Rupees Forty Five Million) remain in the pipelines, located outside the premises.