DOCSLIB.ORG

A N N U a L R E P O R T 2 0 1 9

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
A N N U a L R E P O R T 2 0 1 9 ANNUAL REPORT 2019/20 02 | Odel at a Glance 03 | 2019/20 In Brief CONTENTS 04 | Chairman’s Message 08 | Board of Directors 10 | Corporate Governance 13 | Risk Management 18 | Report of the Related Party Transactions Review Committee 19 | Report of The Audit Committee 20 | Report of The Remuneration Committee FINANCIAL INFORMATION 22 | Annual Report of The Board of Directors on the Affairs of the Company 25 | Statement of Directors’ Responsibility 26 | Independent Auditor’s Report 30 | Statement of Income 31 | Statement of Comprehensive Income 32 | Statement of Financial Position 34 | Statement of Changes In Equity 35 | Statement of Cash Flows 37 | Notes to the Financial Statements 105 | Investor Information 107 | Notice of Meeting 111 | Form of Proxy Inner Back Cover | Corporate Information VISION To inspire the world. MISSION To provide a complete Mind, Body and Soul experience as the premier fashion and lifestyle retailer promoting sustainable and unparalleled levels of retail experience. OUR VALUES Odel is guided by strong shared values. We love, we serve, we style, we innovate, we give, we save, we enjoy and we inspire ODEL PLC 1 Annual Report 2019/2020 2 ODEL PLC Annual Report 2019/2020 Odel at a Glance Over 7 Bn Sri Lanka is positioning Net Asset itself as the primary shopping hub in the region with ODEL taking leading initiatives in these areas of crucial economic 84 development. Number of Stores Over Over 7.4 Bn 375,000 Sq.ft Turnover Floor Area Age Analysis Total No.of Employees 38% 62% Female Male Age 20 - 25 Age 40 - 45 1,100+ Age 25 - 30 Age 45 - 50 Age 30 - 35 Above 50 Age 35 - 40 ODEL PLC 3 Annual Report 2019/2020 2019/2020 in Brief Year Ended 31 st March 2020 2019 Change LKR LKR % RESULTS FOR THE YEAR Group Revenue 7,414,336,531 8,159,711,111 -9.13% Results from Operating activities (174,066,560) 924,359,603 -118.83% Finance Cost 1,077,664,345 629,005,041 71.33% Finance Income 11,404,500 6,255,699 82.31% Profit (loss) before tax (1,240,326,405) 301,610,262 -511.23% Profit (loss) for the Year (835,552,289) 244,652,393 -441.53% Profit (loss) attributable to equity holders of the parent (835,552,289) 244,652,393 -441.53% FINANCIAL POSITION HIGHLIGHTS Equity attributable to equity holders of the parent 7,328,659,265 7,867,432,444 -6.85% Total assets 23,677,842,524 19,098,073,887 23.98% Total debt 11,511,418,302 8,244,541,539 39.62% No. of Ordinary Shares 272,129,431 272,129,431 Gearing (%) 61% 51% 19.41% SHAREHOLDER INFORMATION Earnings/(loss) per share (3.07) 0.90 -441.53% Return on Equity -11.4% 3.1% -466.63% Net asset per share 26.93 28.91 -6.85% Market price as at 31st March 19.00 26.10 -27.20% Market Capitalisation 5,170,459,189 7,102,578,149 -27.20% Revenue Total Assets Total Equity Rs.Mn Rs.Mn Rs.Mn 10,000 25,000 8,000 8,000 20,000 6,000 6,000 15,000 4,000 4,000 10,000 2,000 2,000 5,000 0 0 0 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 4 ODEL PLC Annual Report 2019/2020 With Sri Lanka’s fashion world migrating to curated shopping experiences, branded fashion and data-led business models that maximize choices, ODEL is at a clear vantage point. We are making inroads into the rising opportunities in the digital retail space, coupled with the underlying support provided by our physical stores. Ashok Pathirage Chairman ODEL PLC 5 Annual Report 2019/2020 Chairman’s Message Dear Shareholders, ODEL is Sri Lanka’s largest fashion retailer with an unrivalled retail presence in the local and international ODEL opened a departmental ODEL branded apparel sector. ODEL has an integrated portfolio of over 120 store in One Galle Face Mall by international fashion brands as well as a range of homegrown fashion labels Shangri-La in November 2019, retailed across 33 ODEL stores, 47 exclusive branded outlets (EBOs) and 4 comprising 52,000 sq.ft, spanning across multi-brand Galleria outlets in Colombo and other metropolitan regions. From three floors, while 22 EBOs occupy design to distribution, ODEL has end-to-end capabilities across the around 36,000 sq.ft. ODEL collectively fashion value chain. occupy close to 56,000 sq.ft at the mall. Sri Lanka is positioning itself as the primary shopping hub in the region with ODEL taking leading initiatives in these areas of crucial economic development. We witnessed an improvement in the in tandem with economic growth shoppers deprived of overseas travel country’s organized retail trade as stemming from political stability in the to patronise our branded apparel stores two malls which opened in Colombo aftermath of the elections. However, for their clothing requirements and positively impacted our performance the Easter bombings severely impacted hence an uptick in local demand was for a brief period. ODEL’s leading performance during the first half of the noteworthy. market position in the fashion and retail year when Colombo City Centre and business marks ODEL as the key anchor some of our outlets were closed, with Nonetheless, these two extraordinary tenant in the malls with its unmatched store footfall slowing down after the events weighed heavily on the international branded apparel portfolio. Easter attacks over security concerns. Company’s financial performance during the year with administrative and Subdued Performance Tourism is a primary contributor to ODEL interest cost being undercompensated 2019/2020 financial year was one of sales, making up circa 35% of topline. by the revenue growth thus far. In light the most challenging years in the history The April attacks slowed tourism, which of these extraordinary events unfolding of business operations with two “black resumed during the third quarter of the drastic rationalizing measures were swan” events – Easter attacks and financial year in the aftermath of the taken subsequently to reduce costs emergence of COVID-19 - impacting elections which sent a positive signal wherever possible, so as to regain performance severely. to the burgeoning tourist sector. The lost confidence by consumers in the dual shocks of the outbreak of the external environment, promotions and ODEL PLC reported an annual revenue global pandemic and the emergence of discounts from time-to-time, though of Rs. 7.4 Bn for 2019/2020, which COVID-19, in January 2020 yet again an expense in itself, were offered to is a degrowth of 9% from last year. steeply impacted tourism and the last stimulate demand with a view to restore We expected our revenues to double quarter performance was adversely normalcy thus prompting consolidation during the last quarter of the financial affected. With the ongoing closure of footfall. year given our recent expansion drive of the airport. However, on a positive note, ODEL must solely rely on local 6 ODEL PLC Annual Report 2019/2020 Chairman’s Message Overcoming hurdles of the economy Renewed criteria for demand planning, The financial year of 2020/2021 pricing and promotional strategies will be one of the most challenging following the COVID-19 crisis has years for businesses across the value helped ODEL increase volumes solely chain, despite having taken drastic driven by local shoppers. A data We are grateful measures to follow health and safety driven performance management for measures, secure cash flows and rewarding employees has been strictly to our customers, maximize revenue. Although the adhered to. future is uncertain, ODEL is reliant on shareholders and domestic patronage and the significant Portfolio Transformation business partners savings from borrowing costs induced ODEL opened a departmental by policymakers to perform well in the ODEL store in One Galle Face Mall for their support new financial year. by Shangri-La in November 2019, comprising 52,000 sq.ft, spanning and continuing Despite these visible setbacks, we have across three floors, while 22 EBOs identified fast fashion and value fashion occupy around 36,000 sq.ft. ODEL loyalty during as high potential segments in apparel collectively occupy close to 56,000 sq.ft these hard times. retailing in the country. ODEL now at the mall. The iconic ODEL department seeks to diversify its product offerings store at the mall, encompasses a total which would not only include a range of 3 floors of extended retail space. All of high-end international brands in the ODEL’s departments are housed within categories of fashion & leather goods, this store, where a Beauty department perfumes & cosmetics, watches and with an upscale model hosting jewellery but also homegrown fashion internationally-acclaimed brands was Capitalising on group synergies, ODEL labels. In line with the GoSL’s imperative launched under Fragrances, Cosmetics opened its third department store to boost local production, ODEL will be and Skin Care categories. Other under the concept of ‘Shared Economy’ repositioning and rebuilding its own departments included ODEL Homes, in Kurunegala. This retail space is brands such as Tara, Closet, B-Iconic, Women’s wear and an expanded range shared with other group retail entities Liberation, WYOS, Boys & Bear, of kids wear including brands such such as the Consumer Electronics, Pinkabelle and LuvSL. We will launch as OVS Kids. ODEL also launched an Burger King and GLOMARK operations. a locally developed sportwear range of exclusive range of bespoke, luxury men’s This cost-conscious store model has an international quality standard. With formal wear by international retail giant reported encouraging results with the fashion quotient spreading beyond based in Portugal, Sacoor Brothers, at growing footfall since opening in May metros, ODEL will gradually penetrate the mall.
Load more

Recommended publications
  • Explore Sri Lanka
    EXPLORE SRI LANKA CHECK OUT THE UNIQUE OFFERS INSIDE FOR THESE ELIGIBLE BRANDS: RETAIL DINING & RESTAURANTS ODEL Berlin Sky Lounge RECEIVE A ENJOY 10% OFF 10% DISCOUNT YOUR MEAL ON YOUR PURCHASE The Goldblock, 101/11 Hunupitiya Lake Road, Colombo 2 1st, Floor Capital Mall, No 135, Dutugemunu +94 11 4366388 Thalawathugoda Street, Kohuwala +94 113 357900 +94 114 542756 286, Highlevel Road, No 29A, Jayathilake Colombo 6 Mawatha, Panadura IL Cielo +94 114 209139 +94 384 285008 ENJOY 10% OFF 385, Negombo Road, No 322, Koswatte, YOUR MEAL Wattala Battaramulla +94 11 2980171 +94 114 641400 The Goldblock, 101/11 Hunupitiya Lake Road, Colombo 2 G-3, Udeshi City Shopping No 4, Hotel Road, Complex, Makola Road, Mount Lavinia +94 11 4366355 Kiribathgoda +94 114 640490 +94 114 641961 No 5, Alexandra Place, Level 3, Kandy City Centre Colombo 7 Loon Tao 5, Dalada Veediya, Kandy +94 114 625800 ENJOY 10% OFF +94 81 2205382 No. 53, Hospital Road YOUR MEAL K Zone, Ja-Ela, Kalubowila Gampaha +94 113 383833 Race Course, Philip Gunewardena Mawatha, +94 112 071071 Colombo 7 No 89A, New Galle +94 11 2698989 No 1-29, Majestic City, Road, Moratuwa Galle Road, Colombo 4 +94 114 209571 +94 112 595763 Tsing Tao Maximum discount per transaction of LKR 1000. Offer valid 1-December-2016 to 31-May-2017. ENJOY 10% OFF YOUR MEAL 43/12 College Avenue, Mount Lavinia +94 11 2722723 Above offers valid 1-December-2016 to 31-December-2017. RECEIVE A $10 DISCOUNT OFF ANY PURCHASE ABOVE $65 Flemingo Flow- Hilton Colombo Residencies Bandaranaike International Airport, Colombo, Sri Lanka ENJOY 15% OFF YOUR FINAL BILL +94 11 4696969 P.O.
    [Show full text]
  • Colombo, a Modern City in the Making…
    Colombo, a modern city in the making | July 2013 | Colombo, a modern city in the making… Colombo city calls for the need of development towards an urbanized metropolis in transforming to a regional hub. Steps have been taken by means of improving the quality of the road network and beautification of the city to make the metropolis one of the greenest and cleanest cities in Asia. To cater to the required capacity increase in hotels, apartments, office and retail space, many projects including mixed developments have been proposed. However due to back and forth movements in certain policies and other delays, only few out of the announced projects are currently underway while the others are expected in the medium term. Therefore due to the disparity between the currently needed capacity and actually completed, a deficit in supply exists. Thus we believe that there would not be a glut due to these projects being automatically phased out. The government through the state owned Urban Development Authority is involved in the city development whilst many private companies have proposed projects. However out of the listed companies, few such as John Keells Holdings (JKH : LKR260.10), Colombo Land and Development (CLND : LKR43.70), Overseas Realty (OSEA : LKR18.50) and Access Engineering (AEL : LKR20.30) have grasped such opportunities. In the five star city hotel segment a shortfall of c.1,500 hotel rooms (by 2016) would be seen in meeting the expected tourist arrivals trend where the city is currently equipped with 2,000 hotel rooms. A deficit would be evident till 2016/17 as only two five star hotels out of the proposed projects are off ground currently (of capacity 700 rooms).
    [Show full text]
  • Annual Report 2018/19 Contents
    ANNUAL REPORT 2018/19 CONTENTS ODEL AT A GLANCE | 02 2018/19 IN BRIEF | 03 CHAIRMAN’S MESSAGE | 04 BOARD OF DIRECTORS | 08 SENIOR MANAGEMENT TEAM | 10 MANAGEMENT DISCUSSION & ANALYSIS THE OPERATING ENVIRONMENT | 15 VALUE CREATING BUSINESS MODEL | 19 ODEL IN CONTEXT | 20 FINANCIAL REVIEW| 20 OUR BRANDS | 22 STRATEGIC FOCUS AREAS | 27 HUMAN CAPITAL | 29 CORPORATE GOVERNANCE | 40 RISK MANAGEMENT | 43 REPORT OF THE RELATED PARTY TRANSACTIONS REVIEW COMMITTEE | 47 REPORT OF THE REMUNERATION COMMITTEE | 48 REPORT OF THE AUDIT COMMITTEE | 49 FINANCIAL INFORMATION ANNUAL REPORT OF THE BOARD OF DIRECTORS ON THE AFFAIRS OF THE COMPANY | 53 STATEMENT OF DIRECTORS’ RESPONSIBILITY | 56 INDEPENDENT AUDITOR’S REPORT | 57 STATEMENT OF INCOME | 60 STATEMENT OF COMPREHENSIVE INCOME | 61 STATEMENT OF FINANCIAL POSITION | 62 STATEMENT OF CHANGES IN EQUITY | 64 STATEMENT OF CASH FLOWS | 65 NOTES TO THE FINANCIAL STATEMENTS | 66 INVESTOR INFORMATION | 127 NOTICE OF MEETING | 129 FORM OF PROXY | ENCLOSED CORPORATE INFORMATION | INNER BACK COVER VISION To inspire the world. MISSION To provide a complete Mind, Body and Soul experience as the premier fashion and lifestyle retailer promoting sustainable and unparalleled levels of retail experience. OUR VALUES Odel is guided by strong shared values. We love, we serve, we style, we innovate, we give, we save, we enjoy and we inspire ODEL AT A GLANCE Odel includes a number of private brands, each with their unique identity and an extensive portfolio of OUR BRANDS international brands. NUMBER OF STORES EXPANDING OUR REACH WITH 64 LARGE DEPARTMENT STORES Department store in Shangri-La’s massive new mall – ‘The Mall at One Galle Face’ Scheduled to open in 2019 Size: 100,000 square feet Efficient use of resources is a guiding principle behind our facilities: offices, stores and OUR SUSTAINABILITY LOGISTICS logistics operations.
    [Show full text]
  • Colombo Seven Colombo
    COLOMBO SEVEN COLOMBO JETWING COLOMBO SEVEN 57, Ward Place, Colombo, Sri Lanka Reservations: +94 11 4709400 Hotel: +94 11 2550200 Fax: + 94 11 2345729 E-mail: [email protected] Web site: www.jetwinghotels.com General Manager: Ms. Rookamanie Fernando 01. INTRODUCTION Colombo, the commercial capital of Sri Lanka, is a bustling city with a long history as a port on ancient east-west trade routes, ruled successively by the Portuguese, Dutch and British. Jetwing Colombo Seven, an urban resort situated in the heart of Colombo, offers the discerning traveller modern, contemporary accommodation surrounded by Colombo city life, and reflections of the times of colonial powers and foreign trade. Rising over the city landscape, the property boasts stunning views while being in close proximity to all the city attrac- tions. 02. LOCATION It is 33 km (approx. 60 minutes drive) from the Bandaranaike International Airport, while all main Colombo attractions are nearby. 03. ROOMS The hotel offers spacious rooms defined by a mod- ern ambience, with amenities set in minimalist con- tours of elegance and efficiency. 03.01 Total Number of Rooms Rooms Number Area Room area - 131.6 sqm Serviced Bathroom - 3.4 sqm 02 Apartments Living area - 53 sqm - 3 rooms Total area -188 sqm Serviced Room area - 74.3 sqm Bathroom - 3.4 sqm Apartments 05 Living area - 20 sqm - 2 rooms Total area -97.7 sqm Studio Room area - 30 sqm Apartments 21 Bathroom - 8 sqm -1room Kitchenette - 4 sqm Total area -42 sqm Room area - 27.4 sqm Super Deluxe 16 Bathroom - 8.1
    [Show full text]
  • Sri Lanka a Handbook for US Fulbright Grantees
    Welcome to Sri Lanka A Handbook for US Fulbright Grantees US – SL Fulbright Commission (US-SLFC) 55 Abdul Cafoor Mawatha Colombo 3 Sri Lanka Tel: + 94-11-256-4176 Fax: + 94-11-256-4153 Email: [email protected] Website: www.fulbrightsrilanka.com Contents Map of Sri Lanka Welcome Sri Lanka: General Information Facts Sri Lanka: An Overview Educational System Pre-departure Official Grantee Status Obtaining your Visa Travel Things to Bring Health & Medical Insurance Customs Clearance Use of the Diplomatic pouch Preparing for change Recommended Reading/Resources In Country Arrival Welcome-pack Orientation Jet Lag Coping with the Tropical Climate Map of Colombo What’s Where in Colombo Restaurants Transport Housing Money Matters Banks Communication Shipping goods home Health Senior Scholars with Families Things to Do Life and Work in Sri Lanka The US Scholar in Sri Lanka Midterm and Final Reports Shopping Useful Telephone Numbers Your Feedback Appendix: Domestic Notes for Sri Lanka (Compiled by U.S. Fulbrighters 2008-09) The cover depicts a Sandakadaphana; the intricately curved stone base built into the foot of the entrances to buildings of ancient kingdoms. The stone derives it’s Sinhala name from its resemblance to the shape of a half-moon and each motif symbolises a concept in Buddhism. The oldest and most intricately craved Sandakadaphana belongs to the Anuradhapura Kingdom. 2 “My preparation for this long trip unearthed an assortment of information about Sri Lanka that was hard to synthesize – history, religions, laws, nature and ethnic conflict on the one hand and names, advice, maps and travel tips on the other.
    [Show full text]
  • Download Brochure
    Page 1 THE JEWEL OF SOUTH ASIA INTRODUCING COLOMBO’S PREMIER LUXURY LIFESTYLE DESTINATION Page 2 Page 3 City Core The Residences THE PRIDE OF SRI LANKA Office Beira Lake Renowned as the Pearl of the Indian Ocean, the tropical island nation of Sri Lanka has long captured the hearts of many with its rich cultural heritage, pristine beaches, lush nature, warm people, and now, a fast rising economy. ITC With the country’s growing eminence, Shangri-La, Asia Pacific’s leading luxury hotel, resort and residential group, has chosen to unveil its very first mixed development project — One Galle Face — in the heart of Colombo City. A fully integrated lifestyle destination for different communities, this iconic oceanfront development is an intimately woven tapestry of the best international and local brands. Epitomising the city’s vibrant energy, aspirations Galle and achievements, One Galle Face will become Face the pride of the city. Roof-top Garden THE MALL AT ONE GALLE FACE Hotel Ocean View 2 3 Page 4 Page 5 21.2 MILLION POPULATION IN 2016 CAPITAL SD SRI JAYAWARDENAPURA SD KOTTE 3.52 ILLION 3,759 IN REVENUE FROM TARGETED PER BUSINESS AND TOURIST ARRIVALS CAPITA INCOME IN 2016 IN 2016 FINANCIAL CAPITAL Source: Sri Lanka Tourism Source: Development Authority Trading COLOMBO Statistical Report Economics 2016 AREA SRI LANKA 65,610 SQ KM CLIMATE 14% FULFILLING TROPICAL 6.4% ROT AVERAGE GDP IN TORIST BETWEEN 2010 ARRIAL POTENTIAL MAJOR INDUSTRY TO 2016 TEXTILE, TOURISM, TEA Source: Source: Sri Lanka Tourism KEI Development Authority & MANUFACTURING Statistical Report 2016 A strategic trading hub since ancient times, Sri Lanka has emerged as one of the fastest growing economies in the world.
    [Show full text]
  • Your Guide to Living & Working in Sri Lanka
    INTERNATIONAL WATER MANAGEMENT INSTITUTE Your Guide to living & working in Sri Lanka January 2012 Your Guide to Living & Working in Sri Lanka Your Guide to Living & Working in Sri Lanka .......................................................................................... 2 Housing ................................................................................................................................................... 2 Security ................................................................................................................................................... 2 Schooling & Child‐care ............................................................................................................................ 3 Schools ................................................................................................................................................ 3 Shopping ................................................................................................................................................. 4 Domestic staff ......................................................................................................................................... 5 Embassies / Foreign Mission ................................................................................................................... 5 German ............................................................................................................................................... 5 Australian ...........................................................................................................................................
    [Show full text]
  • List of Approved Projects
    LIST OF APPROVED PROJECTS DEVELOPER PROJECT LOCATION 1 INDOCEAN DEVELOPERS (PVT) LTD ALTAIR RESIDENCIES SIR JAMES PIERIS MW, COLOMBO 02 2 JOHN KEELLS RESIDENTIAL PROPERTIES (PVT) LTD CINNAMON LIFE RESIDENCIES COLOMBO 02 3 OVERSEAS REALTY (CEYLON) PLC HAVELOCK CITY - PHASE III HAVELOCK ROAD 4 SANKEN CONSTRUCTIONS (PVT) LTD / CAPITAL TOWERS (PVT) LTD CAPITAL TWIN PEAKS STAPLE STREET 5 SHANGRI-LA ASIA LIMITED / SHANGRI-LA HOTELS LANKA (PVT) LTD THE ONE GALLE FACE RESIDENCIES GALLE FACE GREEN 6 BRIX REALTY (PVT) LTD VERGE RAJAGIRIYA 7 GLOBAL LEASING LIMITED SCIENIC VIEW THALAWATHUGODA 8 PRIME LANDS GROUP PRIME SPLENDOUR RAJAGIRIYA 9 PRIME LANDS GROUP PRIME 616 ETHUL KOTTE 2 ETHUL KOTTE 2 10 PRIME LANDS GROUP PRIME AQUA NAWALA 11 STK DEVELOPERS (PVT) LTD PARK HEIGHTS PARK ROAD 12 STK ENGINEERING (PVT) LTD MELBOURNE HEIGHTS BAMBALAPITIYA 13 STK QUICKSHAWS (PVT) LTD KALINGA HEIGHTS JAWATTE 14 A & D PROPERTY DEVELOPERS (PVT) LTD GLORIOUS RESIDENCIES BANDARANAYAKE MW 15 UNION PLACE APARTMENTS (PVT) LTD LUNA TOWER - FOUR FOUR SEVEN UNION PLACE 16 J P K L CONSTRUCTIONS (PVT) LTD SEA BREEZE MARINE DRIVE, WELLAWATTE 17 INTERNATIONAL CONSTRUCTION CONSORTIUM (PVT) LTD NILAVELI TRINCOMALEE 18 HAMPDEN RESIDENCIES HAMPDEN RESIDENCIES WELLAWATTE 19 HOMELANDS SKYLINE LUXE APARTMENTS KOTTAWA 20 COLOMBO CITY CENTER PARTNERS (PVT) LTD COLOMBO CITY CENTER GANGARAMA 21 VESTA RESIDENCIES (PVT) LTD VESTA RESIDENCIES WELLAWATTE 22 FAIRWAY HOLDINGS (PVT) LTD FAIRWAY GALLE GALLE 23 MITIKO HOMES (PVT) LTD BRICKSGATE APARTMENTS WATTALA 24 RASIKA MARVELLA RASIKA HOLDINGS
    [Show full text]
  • John Keells Holdings
    John Keells Holdings JKH - Rs.157.0 Yasas Wijethunga Key Highlights Email : [email protected] Phone : +94 77 0532059 4Q18 Results Update . 4Q18 recurring net profit of Rs.5,946mn for 4Q18 (+32% YoY), above our expectations, driven by increased earnings from the Insurance business, due to a transfer of insurance contract liabilities . JKH’s group NP forecast broadly maintained at Rs.16,676mn for FY19E (-2% YoY on a recurring basis) and forecast a NP of Rs.17,641mn for FY20E (+6% YoY) . The JKH share underperformed the broader market during last 12 months and last three months declining -7% and -2% respectively (vs. ASI’s decrease of -3% and -1%) . The JKH share trades at forward PER multiples of 13.1x for FY19E and 12.4X for FY20E . Based on our estimated break up Sum of The Parts (SOTP) valuation of Rs.164, the JKH share is currently trading at a 5% discount . Whilst further significant downside is limited, amid the recent declines and share coupled with the share trading at a slight discount we do not anticipate material share price gains with continuous 28 May 2018 moderate earnings growth expected in the near term. However, JKH may continue to be favored by medium to long term investors, amid its unrivalled share liquidity, being the only company Sri Lanka with over US$1mn average daily turnover on the CSE and potential for upside in its core sectors over the long term Diversified Holdings Key Trading Information Relative Share Price Movement (%) Shares in Issue (mn) 1,387.5 110 Market Cap (US$ mn) 1,378.7 ASPI Estimated Free Float (%)
    [Show full text]
  • SVAT RIP Details Report As At
    SVAT RIP Details Report As at - 2020-07-22 TIN No Taxpayer Name SVAT No Project Name 100871157 VIRCO INTERNATIONAL (PRIVATE) LIMITED 11465 - 100871483 CEILAN COIR PRODUCTS 10606 - 100872420 CONSOLIDATED PRINTING (PVT) LTD 10086 - 100872722 THERMOTEX (PVT) LTD 11616 - 100873087 ALPINE CLOTHINGS POLPITHIGAMA (PVT) LTD 10040 - 100874776 O C M LANKA (PRIVATE) LIMITED 10227 PROVIDING CUSTOMISIZED BAGGING SOLUTIONS AT PORT IN COLOMBO 100875713 N D C EXPORTS (PVT) LTD 10163 - 100876507 DEVON TEAS LIMITED 11295 - 100877007 UNIFI TEXTILES COLOMBO (PRIVATE) LIMITED 10578 - 100877449 VENUS EMBELLISHERS (PRIVATE) LIMITED 10232 - 100878704 CONTINENTAL TEA (PRIVATE) LIMITED 10554 - 100878771 AARON TEXTILES LANKA (PRIVATE) LIMITED 11205 - 100879905 TUNA WORKS LANKA (PRIVATE) LIMITED 10742 TUNA WORKS LANKA (PVT) LTD 100880164 KALPITIYA LAGOON RESORT (PRIVATE) LIMITED 11204 KALPITIYA LAGOON RESORT (PRIVATE) LIMITED 100882884 ANDRITZ HYDRO GMBH 10110 - 100883546 DUNDY TRADING COMPANY 10108 - 100885930 PRIME STRUCTURES ENGINEERING LANKA (PRIVATE) LIMITED 10265 - 100888122 CREATIVE ACCESSORIES LANKA (PRIVATE) LIMITED 10146 - 100888980 ICONIC DEVELOPMENTS (PRIVATE) LIMITED 11620 ICONIC DEVOLOPMENTS (PVT) LTD 100889218 KEFRO INTERNATIONAL (PRIVATE) LIMITED 11428 - 100889820 ROYAL FRESH EXPORTS (PRIVATE) LIMITED 10582 - 100890151 ION EXCHANGE (INDIA) LIMITED 11358 ALUTHGAMA, MATHUGAMA, AGALAWATTA WATER SUPPLY PROJECT 100890232 D AND H APPARELS (PRIVATE) LIMITED 11351 - 100890828 JITF - KDESH JV 11632 AMBATHALE WATER SUPPLY SYSTEM IMPROVEMENT, ENERGY SAVING COLOMBO
    [Show full text]
  • Pirates Ahoy! the Embark Pirate Collection Fashion Show
    MAGAZINE VOLUME2/2014 PIRA THE EMBARK PIRATE TES AHO COLLECTION FASHION SHOW Y! LOVE FOR FREE! ALL ABOUT THE JOYS OF ADOPTING SPECIAL FEATURE ONE WEEK WITH EMBARK ON THE ROAD WITH THE EMBARK TEAM LOVE A STREET THE VOLUNTEERS BEHIND EMBARK POOCH OUR VOLUNTEERS TALK ABOUT THEIR EXPERIENCES CONTENTS 04 ONE WEEK WITH EMBARK On the road with the Embark team! 07 09 WHY PAY FOR love WHEN YOU CAN GET IT PIRATES AHOY! FOR FREE! the Embark Pirate collection fashion show All about the joys of adopting 11 13 17 EASTER WITH THE VOLUNTEERS NEWS BEHIND EMBARK AND EVENTS EMBARK Our volunteers talk about their experiences 22 DOGGIE galleRY All the pics of our Embark doggies 02 embark embark 5 FEATURE 12.30pm – Adoption Day is here! The afternoon brings sunshine with a cool breeze, perfect weather for a big crowd. It is time to start setting up marquees and assembling dog pens. Eager volunteers start arriving kitted out in their Embark t-shirts, along with the veterinary team looking business-like in their lab coats. Unical is also here bearing complimentary vitamins to be handed out to the new adopters. 2.30pm – Everyone is set up in their stations and we are ready to SUN kick off Adoption Day. The pens have quickly filled up with frisky puppies. Little doggy yaps fill the air as the gathering crowd swells with excitement and pick out their best friends forever after screening and ADOPTION DAY receiving advise on puppy care. 5.00pm – Thirty-one homeless puppies went home in the arms of their one loving new family.
    [Show full text]
  • Real Estate Investment Leads Sri Lanka's Remarkable Transformation
    REAL ESTATE INVESTMENT LEADS SRI LANKA’S REMARKABLE TRANSFORMATION September 2018: The Asia Pacific region has emerged as the best real estate investment destination globally, registering the highest year-on-year investment growth of 29% (H1 2018 vs H1 2017) against 9% in the Americas and EMEA regions (Source: JLL Research Report “Global Capital Flows”, Q2 2018). Within this region, Sri Lanka is a shining example of a thriving emerging market. The ‘Pearl of the Indian Ocean’, Sri Lanka is experiencing a surge in real estate investment following a steady period of impressive economic growth over the past decade. A vibrant democracy, political stability, a transparent and robust legal system based on the canons of the Laws of England, freedom for foreigners to invest, a transparent regulatory regime for free capital movements, a relatively benign tax environment, a peaceful South Asian region and an economy getting into a sustained growth all combine to put the spotlight on this island one of the top opportunities for real estate investments in emerging Asian economies. Extensive government investment and private consumption has helped deliver an impressive GDP growth of 4.5% according to World Bank estimates. Sri Lanka’s capital city, Colombo, is one of the region’s fastest-growing commercial hubs. Located at the centre of major shipping routes connecting South Asia and the Far East with Europe, Africa and America, it enjoys enormous strategic importance and today the city is a base for numerous businesses and government institutions. Additionally, strong air connectivity and popularity for tourists have provided a solid foundation for the country’s transformation.
    [Show full text]