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BSE: N.A. Sector: N.A.
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan
NSE 05:30 | 01 Jan

. () - Chairman Speech

Company chairman speech

ANNUAL REPORT 1998-99 SUMAN MOTELS LIMITED CHAIRMAN'S STATEMENT A New Rendezvous As I am writing this piece, I am glad to learn that my country has renewed its tryst with democracy. As the new government takes charge of the largest democracy in the world with confidence, the mood amongst the countrymen - expectedly - is one of hope and expectation . This year, having already been declared as the VISIT INDIA tourism year, the expectations of the Tourism Industry are not misplaced. To say that the country has realised only a fraction of its potential as a tourist destination, is to state the obvious. This being the case, the opportunities that are available in the industry are bountiful. Our Company, as eve, is geared for its piece of action. It is heartening to note that the government is also laying due emphasis on the infrastructure - particularly roads. This could spell a bonanza for a Company like ours. As you are aware, with an intent to improve the marketability of our Resort/Motel facilities as also to supplement the efforts of the government in improving the quality of highway facilities, our Company is providing services to motorists on a few highways - an effort which has been well received and appreciated by a cross section of people including the government agencies. To further consolidate our Company's position in this field, Highway Users Centres (India) Limited, an associate Company operating in a big way in the highway users services industry is being merged with our Company along with five other associate companies. In this age, where the by-word is to consolidate to grow, It is in line with the expectations that we have received an overwhelming approval from our stakeholders for this consolidation efforts, which is intended to derive various benefits of synergy and do a world of good for all the concerned Companies. It is heartening to learn that this consolidation will strengthen our Company immensely and will catapult it into a Rs. 100-crore networth club. The earning of the Company are expected to show a commensurate spurt. At this highpoint of the Company, our plans are centred on how to continue our journey on the highway of growth and maximise the shareholder wealth. Given the above background, it is only appropriate that we continue to spread the network of operations, an effort which is already underway. I trust, this mission - a seemingly quantitative but also a qualitative one - will give a tremendous boost to the image of the Company and would ring in a prosperous rendezous to its stakeholders in the new millennium. On this optimistic note, I take your leave but not before congratulating all the employees of the Company for posting good results for the year. Sheikh Mukhtar Hussain Chairman