Most Ceylinco firms, in view of the cash-shortage crisis at the Ceylinco Group, may be forced to sell land and property which could trigger a fall in land prices, according to some real estate industry analysts.
“Most of their assets are in land and property all over the country. So due to the current credit crunch experienced in the real estate market, this land and property will be sold at low prices which will result in land prices falling,” an industry analyst said.
A stock broker said that in the long run this situation will affect some share prices in listed (Ceylinco) firms. “The asset value of some listed firms may come down, which will impact on their share prices,” he noted.
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