Srinivasa Shipping clarifies on news regarding foreign partner

With reference to the news item appearing in a leading financial daily titled "Srinivasa Shipping on American odyssey", Srinivasa Shipping & Property Development Ltd has clarified the following:

1. The Company's foray into real estate sector - The Reporters has erred in mentioning that the Company has forayed into real estate sector recently. The Company has been primarily in construction and real estate business since the Company's inception in 1994.

2. Roping in of American financial partners for the proposed Munnar Project: The Company is currently in discussion with carious financial partners for the proposed Munnar Project and nothing has been finalized or concretized at this stage.

3. Vacancy of two towards of Alpha City: The project is not yeast complete as work is still going on end the project is expected to be complete in another 3 months. Several parties are negotiating for Lease as well as Sale but nothing is finalized.

Source : Equity Bulls

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