Empowering Your Dreams

EMPOWERING YOUR DREAMS Annual Report 2018/19 Financial Year : 1st April 2018 to 31st March 2019 Operational Year : 1st January 2019 to 31st December 2019 THE NATIONAL CHAMBER OF COMMERCE SRI LANKA THE NATIONAL • ANNUAL REPORT 2018/19 EMPOWERING YOUR DREAMS ENTREPRENEURS CONTINUE TO BOLSTER THE LIFELINE OF OUR ECONOMY, FOSTERING ECONOMIC INDEPENDENCE AND THE HOPE FOR A STRONGER, MORE SELF-SUFFICIENT ECONOMY FOR OUR MOTHERLAND. AS A LEADING AUTHORITY IN UPLIFTING AND DEVELOPING ENTREPRENEURIAL VISIONS, NCCSL CONTINUES TO EMPOWER THE DREAMS OF OUR ENTREPRENEURS PROVIDING ESSENTIAL GUIDANCE TO SMES AND LARGE SCALE ENTERPRISES. WHETHER THEY ASPIRE TO BREAK INTO THE LOCAL PLAYING FIELD OR TO ENTER INTERNATIONAL MARKET-SPACES, WE SUPPORT THEM IN THEIR MOST CRUCIAL STRATEGIC MILESTONES, PROVIDING VITAL RESOURCES; INFORMATION AND STRATEGIC DIRECTION, HELPING THEM BREAK CHALLENGING FRONTIERS. ACROSS THE YEARS, NCCSL HAS SUPPORTED MANY BUDDING ENTERPRISES TO BECOME INDUSTRY LEADERS, PROVIDING ASSISTANCE IN FINANCIAL LITERACY, BUSINESS CONSULTATION AND MARKET PLACEMENT OF PRODUCTS WHILE ASSISTING BUSINESSES OF YOUTH AND WOMEN. WE CONTINUE TO BE A PARTNER IN THEIR GROWING VENTURES WHILE CONTINUING TO ASSIST OUR ENTREPRENEURS TO ACHIEVE GROWTH POTENTIALS AND BUSINESS ASPIRATIONS. THE MISSION IS TO PROVIDE TRADE PROMOTION SERVICES AND ASSISTANCE REQUIRED BY BUSINESSES TO FUNCTION COMPETITIVELY IN DOMESTIC AND OVERSEAS MARKETS AND TO REPRESENT THEM IN MATTERS OF COMMON AND INDIVIDUAL INTEREST AT ALL FOR INCLUDING DISCUSSIONS AND DELIBERATIONS CONVENED BY THE GOVERNMENT. THE MISSION IS TO BE ACHIEVED PRIMARILY THROUGH ENHANCING THE EFFICIENCY AND COMPETITIVENESS OF FIRMS COUNTRYWIDE AND STRENGTHENING THE DIALOGUE WITH THE GOVERNMENT TO ASSIST IN CREATING A CONDUCIVE BUSINESS ENVIRONMENT. Mission Values • MEETING MEMBER Vision EXPECTATIONS • GIVING AWARENESS TO THE THE VISION OF THE NATIONAL STAKEHOLDERS AT THE CHAMBER OF COMMERCE RIGHT TIME OF SRI LANKA IS TO BE • GIVING A HELPING HAND THE LEADING SOURCE OF TO SMES SERVICES AND ASSISTANCE TO • RESPECT THE EQUALITY BUSINESSES COUNTRYWIDE FOR PROMOTION OF DOMESTIC • EMPOWERING AND FOREIGN TRADE WITH STAKEHOLDERS SPECIAL EMPHASIS ON • BRINGING THE THE DEVELOPMENT OF INTERNATIONAL BUSINESS MICRO, SMALL AND MEDIUM FLAVOUR TO LOCAL ENTERPRISES. BUSINESSES Content COVER STORY ABOUT NCCSL 2 VISION, MISSION AND VALUES 4 ABOUT THE REPORT 5 JOURNEY ACROSS THE YEARS SPOTLIGHT ON 8 SPOTLIGHT ON FLAGSHIP EVENTS FLAGSHIP EVENTS 60TH AGM OF THE 10 EXTRACTS FROM THE SPEECH OF THE CHIEF GUEST CHAMBER 12 EXTRACTS FROM THE SPEECH OF THE GUEST OF HONOUR 14 EXTRACTS FROM THE SPEECH OF THE PRESIDENT 16 EXTRACTS FROM THE SPEECH OF THE OUTGOING PRESIDENT LEADERSHIP 20 PRESIDENT’S MESSAGE 24 REVIEW BY THE SECRETARY GENERAL 28 THE EXECUTIVE TEAM 31 MEMBER AFFILIATIONS 32 THE COUNCIL 36 THE COUNCIL OF 2019 37 PAST LEADERSHIP 38 THE OPERATIONAL TEAM MANAGEMENT 44 MANAGEMENT DISCUSSION DISCUSSION THE CHAMBER 48 WHO WE ARE 49 CHAMBER SERVICES 50 NETWORK FOR SME DEVELOPMENT 51 PAST PRESIDENTS AND SECRETARY GENERALS / CEOS 52 COMMITTEE STRUCTURE 53 THE GOVERNING COUNCIL AND SECRETARIAT 54 TRAINING AND KNOWLEDGE SHARING 56 BUSINESS DEVELOPMENT PROGRAMS - SME 60 BILATERAL AND STRATEGIC INITIATIVES CAPITAL REPORT 66 CAPITAL REPORT 69 FINANCIAL CAPITAL RISK MANAGEMENT 71 RISK MANAGEMENT FINANCIAL STATEMENTS 74 FINANCIAL STATEMENTS CORPORATE INNER INFORMATION BACK COVER CORPORATE INFORMATION THE NATIONAL CHAMBER OF COMMERCE OF SRI LANKA ANNUAL REPORT 2018/19 About the Report EMPOWERING YOUR DREAMS Annual Report 2018/19 Financial Year : 1st April 2018 to 31st March 2019 Operational Year : 1st January 2019 to 31st December 2019 THE NATIONAL CHAMBER OF COMMERCE SRI LANKA THE NATIONAL Report Content and Boundary The ensuing content of this report is a presentation of the conduct of the Chamber during the year 2019. It provides a comprehensive insight into this year’s events, forums, meetings and strategic initiatives and provides insights into the Chamber’s strategic measures in building local businesses especially Micro, Small and Medium Enterprises (MSMEs). • ANNUAL REPORT 2018/19 It includes the programs expedited to inform, educate and train target groups within the business community, in enabling business growth and market expansion opportunities for member companies. The report provides a detailed depiction of the bilateral discussions, meetings with ambassadors and other events hosted or supported by the Chamber, with the purpose of assisting foreign organizations to seek information and opportunities pertaining to bilateral trade in the domestic market. It also provides the strategic partnerships initiated in 2019 in strengthening the services and reach of the Chamber. Intended Audience This report is intended for the use the members of the Chamber, professional businessmen, prospective businessmen and other stakeholders. Declaration The Financial Statements presented herein are audited and prepared by KPMG Chartered Accountants in compliance with the requirements of the Companies Act 2007 and certified by Mr. Gamini Wimalasuriya, Hon. Treasurer and approved by Mr. Asela de Livera - President and Mr. Nandika Buddhipala, Senior Deputy President of the National Chamber of Commerce Sri Lanka. 4 THE NATIONAL CHAMBER OF COMMERCE OF SRI LANKA ANNUAL REPORT 2018/19 Journey across the years 1948 2000 • The chamber was established • The chamber conducted the 3rd INTRAD Millennium exhibition and Investor Forum at the BMICH in May, marking 1955 the beginning of the millennium. • The Chamber was incorporated as a legal entity 2004 • The first National Business Excellence Awards was held in 1972 November, at Hotel Hilton. 29 best performing business • Two awards for outstanding performance in an International organizations were presented with awards. Trade Fair awarded by the IKOFA, Food Fair in West Germany, making us the first Chamber to have won these prestigious awards. 2005 • The first female President of the Chamber was elected, as Head of the Chamber. 1990 • NCCSL facilitated rehabilitation of SMEs affected by the • Selected as one of the two Chambers to issue Entrepot 2004 Tsunami by providing financial assistance through Certificate of Origin, introduced in Sri Lanka in 1990 donor funding. • The first auditorium of the Chamber was completed on the 4th floor of our Headquarters, fulfilling a vital need for an in- 1993 house accommodation for various events and programs. • Construction of Chamber Headquarters commenced • The National Business Excellence Awards was conducted with the laying of its foundation at 450, D.R. Wijewardene for the second year, held at Hotel Hilton. In addition, the first Mawatha, Colombo 10. The same year, we reorganized the ever National Healthcare Exhibition “Arogya 2005” was held Chamber library – both projects were completed under the at BMICH, in partnership with the Ministry of Health. financial backing of the Policy Support Unit of the USAID. 1995 2006 • The “Arogya 2006” National Healthcare Exhibition was held • Operations were shifted to new Headquarters on June 3rd. for the second successive year at BMICH. The same year we signed an agreement with the Sri Lanka • The SME – Businesses Promotion Fund was held, with China Business Cooperation Council for providing secretarial Financial Assistance by the Royal Netherlands Government. services. • NBEA 2006 was organised for the third consecutive year at 1996 Hotel Hilton. • The first ever INTRAD exhibition was inaugurated, held from 2007 7-9th of July at the BMICH. • The very first “Ayurveda Expo” International Exhibition and Symposium was organized in September with wide 1997 international participation at BMICH. • NBEA 2007 was also organized for the fourth consecutive • The second INTRAD exhibition was inaugurated by President year at Hotel Hilton. H.E. Chandrika Bandaranaike Kumaratunge and conducted successfully. 5 THE NATIONAL CHAMBER OF COMMERCE OF SRI LANKA ANNUAL REPORT 2018/19 Journey across the years 2008 2013 • The “Wellassa Krushi Udawa” was held in Buttala, Moneragala – • The Chamber unveiled a refurbished and fully equipped the first such Regional Agricultural Exhibition held in Sri Lanka. auditorium, ceremoniously inaugurated by H.E. Mahinda • NBEA 2008 was also organized for the fifth consecutive year Rajapaksa, President of Sri Lanka, in January. at Hotel Hilton. • ‘Ayurveda Expo – 2013’ International Indigenous Healthcare Exhibition and Symposium was organized for the 4th time at BMICH. 2009 • Conducted ‘NBEA – 2013’ for the 10th consecutive year at • The Chamber received an International Award for the Best Hotel Hilton. Small Business Project at the 6th World Chamber Congress held in Malaysia in June. • The “Ayurveda Expo 2009” International Exhibition and 2014 Symposium was held for the second successive year, in May • The ‘National Business Excellence Summit (NBES) 2014’ was • The NBEA 2009 event was organized for the sixth inaugurated and held on 21st and 22nd March at BMICH. consecutive year. • ‘INTRAD Expo – 2014’, the International Exhibition and Trade Fair and the ‘Arogya – 2014’ National Healthcare Exhibition were held together for the first time in May at the BMICH. 2010 • Conducted ‘NBEA – 2014’ for the 11th consecutive year at • ‘INTRAD EXPO – 2010’ was conducted. Hotel Hilton. • The seventh consecutive NBEA 2010 was held at the Hotel Hilton. 2015 • Monthly Bilateral Trade Sessions were initiated with Ambassadors and High Commissioners of Sri Lanka through • The program “Meet the Minister” was introduced for hosting

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