According to a report in the Sydney Morning Herald of June 12th 2007 it is said that Ultrapay Limited has sold its share in Multivision that is owned indirectly by its subsidiary Chalmway.
The proceeds of the sale, a profit of nearly Aus $ 1.2 Million have been received by Ultrapay/Chalmway. There is no indication on who the buyer is. It is surprising that no Sri Lankan business report carried this information.
Please read the links given below.
Please update us the latest regarding Comet Cable such as who the buyer is and other related information as the days progress.
About Ultrapay - http://finance.google.com/finance?q=ASX:ULT
Announcement - Ultrapay sells share
PDF Document Detailing the Sale - Download Page
For those who cannot download, the PDF document reads as follows
UltraPay today announces that it has sold its share in the Sri Lankan Pay TV business indirectly held by its subsidiary Chalmway Pty Ltd. The sale will result in a A$1.2m profit on the transaction in the current half year. The sale terms were unconditional and sale proceeds have been received. The profit received on the sale of the Chalmway business was at the top end of our expectations. It is a pleasing outcome given the considerable uncertainty surrounding the sale and the difficult environment of Sri Lanka, Michael Boyd, Chairman of UltraPay Limited stated. The funds from this sale will provide the capital required for the London taxi mobile payments rollout and allow us to focus on the growth of this business The technical and commercial pilots have progressed extremely well, and we expect to be able to rollout in volume from October he added. The Company is also making progress toward the sale of the remaining holding in its other non-core business Telcogames. The anticipated cash return from this sale
should be in excess of $1.5m. Strong interest in the Companys mobile payments system from a number of European, Asian and South American countries provides further good growth opportunities for the Company.
The proceeds of the sale, a profit of nearly Aus $ 1.2 Million have been received by Ultrapay/Chalmway. There is no indication on who the buyer is. It is surprising that no Sri Lankan business report carried this information.
Please read the links given below.
Please update us the latest regarding Comet Cable such as who the buyer is and other related information as the days progress.
About Ultrapay - http://finance.google.com/finance?q=ASX:ULT
Announcement - Ultrapay sells share
PDF Document Detailing the Sale - Download Page
For those who cannot download, the PDF document reads as follows
UltraPay today announces that it has sold its share in the Sri Lankan Pay TV business indirectly held by its subsidiary Chalmway Pty Ltd. The sale will result in a A$1.2m profit on the transaction in the current half year. The sale terms were unconditional and sale proceeds have been received. The profit received on the sale of the Chalmway business was at the top end of our expectations. It is a pleasing outcome given the considerable uncertainty surrounding the sale and the difficult environment of Sri Lanka, Michael Boyd, Chairman of UltraPay Limited stated. The funds from this sale will provide the capital required for the London taxi mobile payments rollout and allow us to focus on the growth of this business The technical and commercial pilots have progressed extremely well, and we expect to be able to rollout in volume from October he added. The Company is also making progress toward the sale of the remaining holding in its other non-core business Telcogames. The anticipated cash return from this sale
should be in excess of $1.5m. Strong interest in the Companys mobile payments system from a number of European, Asian and South American countries provides further good growth opportunities for the Company.
33 comments:
Tried to get info from Comet but eighter they are denying they know anything or they actually dont know anything about the sale!
comonnnnnnnnnnn comet go ahead you are number 01 cable TV in Sri Lanka. where are you DTV supporters Hooooooooooooooooooo
It looks like that the above comments are from a DTV supporter.
(puhul horu karen daney)
guys, what you'll think of this move? good or bad for us?
Comet cable is now owned by a relation of a very very very powerful person.The new owners have interests into an up coming harbour project.The new owners are richer than a famous casino owner in sri lanka. very very rich.Now the pay tv industry will boom and we can see the real battle between DTV and comet.Money talks.POWER and TOP GOVERNMNENT CONECTIONS DO TALK these days
labba thamai :(
The shares have been bought over by a Indian.And with these guys you dont know what to expect.
If this is true this something godd for Cable TV industry in Sl. Competition among Service Providers will always be good since as they will try to grab customers by providing a better service compared their competitors.
Lets hope that this happens. Rather than one company Becomes a giant and start playing pucks it is always good to have competition as customers will have a option to select
Wish all the best for Comet customers
We now have conflicting reports regarding the new owner of Comet Cable
Anon@2.06 claims it is a Sri Lankan
Anon@4.26 claims it is an Indian
Can anyone clarify the position ?
C'mon Guys, please do not post misleading info.The matter is too important to us for some jobless bugger to play the fool in this blog.
as long as its not dialog who bought shares i'll be happy..
Comet have stopped broadcasting Star Movies & Star Plus from yersterday evening. Star World was also stopped but was activated again when i checked in the night
Wonder what is happening?
hope the guy who bought comet knows what he is doing.Probably the previous management havent paid the bills
Comet or Multivision (whatever) has come to an agreement with an indian company called UTL India to sell. The story is that Ultrapay/Chalmway has not received any money yet from the transaction, but have made the announcement on anticipation to drive the share price up of Ultrapay in Australia, which is a dying company (check their share price on www.asx.com.au).
The Indians are not aware of the legal cases and the situation of the frequencies. They will be up for a surprise.
James Scobie, the Australian guy who was running Multivision has already fled the country and a person by the name of Gerry Junkeer and one Anton Alwis are in control at the moment.
These people, who has nothing to do with power or the top are promoting the story of the powerful relative, so that nobody will mess with them, i.e., TRC etc
An Employee
following is the exact link:
http://www.asx.com.au/asx/research/CompanyInfoSearchResults.jsp?searchBy=asxCode&allinfo=&asxCode=ult
the above link is not working
FROM: http://www.utl-india.com/
UT Limited has three plants – Budge Budge (near Kolkata) in West Bengal, Hosur (near Bangalore) in Tamil Nadu and Sahibabad (near Delhi) in Uttar Pradesh.
UT's six branch Offices in major metros and wide support network caters to the length & breadth of India.
Product portfolio includes
Tipping Gear System
Hydraulic Cylinders
Mill Duty Cylinders
Hydraulic Pit Props
Gear Pumps
Control Valves
Crucial Hydraulic Systems for Loaders
Aviation Ground Support Equipment including Loaders
Hydraulic and Traction Elevators
Manifestation of the company's quest for excellence is its collaborations with world leaders in various fields, enabling it to offer absolute state-of-the-art technology for critical application in areas as diverse as earth moving, constructions, material handling, aviation ground support, agricultural equipments, thermal/hydel power plants, food processing and core industries, to name the major ones.
What do they know about runnig a Pay-TV service ?
thats the wrong UTL
try www.utlindia.com
try copy and paste the link. I dont know how to make it a link.
http://www.asx.com.au/asx/research/CompanyInfoSearchResults.jsp?searchBy=asxCode&allinfo=&asxCode=ult
Or just research for ASX Code "ULT" on www.asx.com.au
Previous Code: HLT
yes the www.utlindia.com address is correct, they are a telecom co.
Just heard that Comet and Lanka Internet were bought by the same party. Can someone please shed some light on this?
Still they are not giving Star movies and Star plus. For Star movies they are giving HBO. Seems things are not good.
Maybe the "Employee" of Comet @ 10:56 could enlighten us as to the real reason why Star Movies + Star Plus are off the air. Come on, man, tell us. Is it a technical problem? Or is it a financial problem ?
Why has this "Employee" suddenly decided to share 'inside information' with us about Comet. We were begging for info for the past 6 months but there was absolute silence from everyone at Comet including "Employee".
Customer Care told me just now that the absence of Star Movies / Plus is due to a technical problem at their end. Says it will be rectified by this evening. I guess we will have to wait & see.
If it is due to non-payment of fees, the chances are that Star would not have permitted Star World either.
HA HA HA (lol) They are giving some shit about having technical problems in not being able to broadcast Star Movies and Star Plus. I have been hearing the tune of this music whenever they get disconnected due to non-settlement of payments. Serves them right!! They disconnected me last month when I did not pay on time???????
Star world,star movies and star plus i out due to non payment.James scobie has tranffered everything back to australia and is missing.The star world signal is from tatasky.Comet cable is re broadcasting tatasky star world signal.I doubt they will activate start movies today.
The new owners are sri lankans.I do not wanna tell you guys more about this cos im scared of the white van.They are very well connected to the most powrerful group.As said they are the agents for the newest port project which is coming up as well as the brokers for airbus deal which went through mihin air.DTV guys are trying to create a stroy by saying comet is now owned by an indian company.This is bullshit.Lets wait for few more days.The battle for supremacy will begin.DTH service will hot up soon.
As long as they show Star Sports, ESPN and Tensports I am fine :))
Be watchful. now radhus posting messages as anonymous. No one can identify him. The only agenda is to bring comet blogers to get frustrated.
Anon@2:19
If comet is re-broadcasting tatasky star world signal, shouldn't it contain the tatasky logo ? When comet re-broadcast DD world matches, it carried the DD logo.
If they broadcast the direct feed then it wont contain the logo, like when eye, derana or sirasa telecast cricket matches,u dont see the espn or ten sports logo.
You get a fingerprinting number or serial number which flashes occaisionaly on the screen,with that you can identify.Has anyone seen that?
I just called Star and they said that all three channels have been taken off due to non payment.I inquired how come one channel is working and they said that is illegal and they are tracking down the source.
I think even the sell off seem to be a big hoax.We have to act fast guys.
Seems like the new owner of Comet Cable introduced themselves with the loss of their STAR channels. It also seems like they are illegally broadcasting STAR World.
Unfortunately the first move leaves a long lasting impression in the minds of the customers. This is definitely not going to be forgotten by the customers very soon.
But anyway, I wish the new owners of Comet the Best of Luck and also hope that you will start some useful discussions here.
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