New investment cycle of Terme Tuhelj and Olimia

first_imgTerme Olimia and Terme Tuhelj recorded positive tourist results this year, so that in the first six months of 2017 Terme Olimia realized 138.484 overnight stays, which is one percent more than in the same period last year, and an interesting fact is that Terme Olimia was visited by 61.846 commercial In accordance with good tourist results, good financial results were achieved, so that in the first six months, 8,7 million revenues were generated, which is seven percent more than in 2016.Terme Tuhelj is also achieving very good results, and in the first six months of this year, 54.380 overnight stays were recorded, 21 percent more than in the same period last year, as well as a total of 64.808 commercial bathers. At the same time, HRK 3,3 million in revenue was generated, which is 16 percent more than in the first six months of 2016. It should be noted that the Water Planet Terme Tuhelj was visited by 64.808 commercial swimmers in the first six months of this year.Investment cycle of 10 million EurosExcellent both tourist and financial results, as well as confirmation of a good business concept, is certainly an obligation for sustainable long-term development because if we stagnate, we actually fall, because the competition does not sleep. Thus, in 2017 and 2018, a new investment cycle of 10 million Euros is planned, in order to raise the quality of products as well as to introduce new tourist attractions and offers. The largest share of the investment cycle relates to the renovation of the pool complex Termalija, and the new accommodation offer Glamping Olimia Adria Village, which offers a luxurious holiday in tents within the Natura camp and new slides in Termane Tuhelj. “In 2017 and 2018, we plan a thorough renovation of the thermal pool complex Termalija. The goal of the development plan of the renovation is to provide wellness and spa guests with a higher level of service, with top programs that we will upgrade and complete to be as attractive as possible to wellness guests and families with children. “Points out the director of marketing and sales of both spas, Vasja CertnikThe renovation will be developed in two phases and the work is planned to be completed by the end of 2018. The first, most comprehensive phase of the ten-million investment, which began in March, will be completed in December this year. In the first phase, 80% of the total investment funds were invested, in which the outdoor pool part was completely demolished, and a new pool area will be built, as well as the area around the pool. “With the renovation, we want to improve the Wellness Center Termalija and offer our guests the best and high quality services in the field of water experiences and relaxation programs. Programs and attractions will be aimed primarily at families with children. At the end of the project, the new Wellness Center Termalija with a more attractive and new offer will certainly push the boundaries in the field of water experiences and set new standards in this area. This will bring it closer to the well-known and award-winning Wellness Orhidelia center. ”Concludes Čertnik.last_img read more

LBDI Sues Eco Timber over Unpaid US$1.2M Loan

first_imgLiberia Bank for Development and Investment (LBDI) has filed an “Action of Debt” against Eco Timber-Liberia Limited and its Ghanaian partner, Logs and Lumber Limited, at the Commercial Court at the Temple of Justice in Monrovia, to recover US$1,239,663.17 in unpaid loans.Eco Timber is an investment company operating in the forestry sector in Liberia.The amount, the bank lawsuit claimed, “represents upgraded principal, interest, legal fees and cost of travel to and from Ghana for payment of the consolidated and restructured loan facility.”The suit, filed in January this year, alleges that Eco Timber is a wholly owned subsidiary of Logs and Lumber Limited based in Kumasi, Ghana, with 60 percent shares, and which through its authorized legal interventions of its officers guaranteed two separate loan transactions as working capital to facilitate the production of round logs in the country.As a result, owing to several interventions and guaranties from the co-defendant, Logs and Lumber, the bank extended the first US$300,000 overdraft facility to Eco Timber to be repaid within 6 months, with 11 percent interest per month, commencing the date of booking, and an advance of US$400,000 facility to be paid within 90 days with a default commission of 2 percent per month, the lawsuit further alleged.In addition to Eco Timber’s overdraft balance of US$206,859.36, on October 24, 2011, it requested and received from the bank US$40,000, which increased its overdraft to US$246,859.36, all to be paid within four months, inclusive of a one-month grace period.On December 28, 2011, the bank and defendant, Eco Timber, also executed an MOU, on which the two loans were consolidated and restructured, giving the total aggregate amount of US$622,933.70 to be fully liquidated within 24 months, beginning after the date of booking.According to the lawsuit, the defendant’s consolidated outstanding balance has been on the books since December 20, 2012, and has now accrued interest, charges and other fees up to October 20, 2016 which, the bank claimed, now stands at US$1,239,633.17.“There [have] been no deposits made into the defendant’s account, and that on a daily basis, their income has bloated by this uncollected liquidation.“As a result of the defendant’s continued failure, refusal and neglect to honor its consolidated and restructured facilities over the years, the loan now stands upgraded at US$1,239,663.17, inclusive of outstanding principal, interest and legal fees and travel cost,” the bank complaint claimed, adding, “Notwithstanding several honest demands and approaches made by the bank to the co-defendant, Logs and Lumber, as guarantor for the settlement of the consolidated and restructured facilities, the co-defendant has failed, refused and neglected to do.”Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more