Shinagawa J. Capital to invest in Lankan hotel properties
The President and CEO of Teoria Investment Co. Ltd, Shigenori Shinagawa recently announced the formation of Shinagawa J. Capital (Pvt) Ltd, a company which seeks to invest into Sri Lanka, especially in the development of hotel properties. Teoria Investment Co. Ltd recently tied up with the Asia Capital Group to invest in their hotel property in Balapitiya.
The J in the name has a twofold meaning, one being Japan and the other for J. R. Jayewardene, someone whom Shinagawa has the utmost respect for, after then President Jayewardene made his famous speech at the signing of the peace treaty with Japan in San Francisco at the conclusion of the second World War.
The new company will initially focus on investments into hotel properties but will look to expand its services to other areas as well in the near future. The hotels, under the brand name Shinagawa J, will be constructed through a joint venture with the Asia Capital Group. The main goals for the company will be to make a contribution to Sri Lanka and to be a preferred employer of choice.
Speaking about the proposed joint venture Stefan Abeyesinhe, Director/ CEO of Asia Capital said, “We look forward to working closely with Shinagawa and his team, as we have a special relationship with them and we are confident that this partnership will be very fruitful for both parties and the country. The current conditions created by the government are very attractive for both local compa- nies and foreign investors. The market itself has a tremendous amount of potential in various sectors, which are being indentified and sought after by investors who wish to capitalize on such opportunities”.
Shinagawa asserts that he sees strong growth potential for Sri Lanka, especially in tourism and also notes that the cultures of Sri Lanka and Japan are very similar which makes working in Sri Lanka a pleasure. “I find the Sri Lankan people to be very kind and friendly and this is very motivating for me,” he said.
Asia Capital PLC is the largest investment bank in Sri Lanka to be listed on the Colombo Stock Exchange. The company currently has operations in Securities, Leisure, Finance and Private Equity.