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Dialog Axiata PLC L Annual Report 2020

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Dialog Axiata PLC L Annual Report 2020 Dialog Axiata PLC l Annual Report 2020 Dialog Axiata PLC | Annual Report 2020 Corporate Information NAME OF COMPANY AUDITORS Contents Dialog Axiata PLC Messrs. PricewaterhouseCoopers Introduction to the Company 1 Statement of Comprehensive Income 77 Chartered Accountants Message from the Chairman 2 Consolidated Statement of Changes in Equity 78 COMPANY REGISTRATION NO. 100, Braybrooke Place Group Chief Executive’s Review of Operations 6 Company Statement of Changes in Equity 79 PQ 38 Colombo 02, Sri Lanka Board of Directors 17 Statement of Cash Flows 80 Corporate Management Team 23 Notes to the Financial Statements 81 REGISTERED ADDRESS CONTACT FOR SHAREHOLDER SERVICES Business & Financial Review 28 US Dollar Financial Statements - 475, Union Place Group Corporate Services Corporate Governance Report 46 Statement of Financial Position 152 Colombo 02 Telephone: +94 773 908 929 Report of the Board Audit Committee 54 US Dollar Financial Statements - Sri Lanka E-mail: [email protected] Report of the Related Party Transactions Statement of Comprehensive Income 153 Telephone: +94 777 678 700 Review Committee 57 Group Value Added Statement 154 Website: www.dialog.lk CONTACT FOR INVESTOR RELATIONS DIAL Share Information 58 Five Year Summary 155 Group Investor Relations Telephone: +94 777 332 052 Group Real Estate Portfolio 156 LEGAL FORM E-mail: [email protected] Financial Statements Notice of Annual General Meeting 157 A public quoted company with limited liability. Annual Report of the Board of Directors for Administrative Details for the 24th Incorporated as a private limited liability company in Sri Lanka on 27th August 1993 and subsequently the year ended 31 December 2020 64 Annual General Meeting 159 CONTACT FOR MEDIA converted to a public limited liability company on 26th Group Corporate Communications The Statement of Directors’ Responsibility 69 Form of Proxy 161 May 2005. Listed on the Colombo Stock Exchange in Telephone: +94 773 332 222 Independent Auditor’s Report 70 July 2005. E-mail: [email protected] Statement of Financial Position 76 Corporate Information Inner Back Cover STOCK EXCHANGE LISTING SUBSIDIARY & ASSOCIATE COMPANIES The Ordinary Shares of the Company are listed on the (All incorporated and operating in Sri Lanka) - Colombo Stock Exchange of Sri Lanka. As of 30 April 2021 Our Vision 1. Dialog Broadband Networks (Pvt) Ltd - 100% To be the undisputed leader in the provision of multi-sensory connectivity resulting always, in the empowerment BOARD OF DIRECTORS Telecard (Pvt) Ltd – 100% and enrichment of Sri Lankan lives and enterprises. Mr. David Nai Pek Lau - Chairman H One (Pvt) Ltd – 100% Mr. Supun Weerasinghe - Group Chief Executive Digital Realty (Pvt) Ltd – 35% Dr. Hans Wijayasuriya 2. Dialog Television (Pvt) Ltd - 100% Mr. Mohamed Muhsin Communiq Broadband Network (Pvt) Ltd - 100% Our Mission Mr. James Maclaurin To lead in the provision of technology enabled connectivity touching multiple human sensors and faculties, through Deshamanya Mahesh Amalean 3. Digital Holdings Lanka (Pvt) Ltd – 100% committed adherence to customer-driven, ethical, responsive and flexible business processes, and through the Mr. Willem Lucas Timmermans Digital Commerce Lanka (Pvt) Ltd (together with delivery of quality service and leading edge technology unparalleled by any other, spurred by an empowered set of Mr. Vivek Sood Dialog’s direct shareholding) – 100% dedicated individuals who are driven by an irrepressible desire to work as one towards a common goal in the truest Dato’ Dr Nik Ramlah Nik Mahmood Headstart (Pvt) Ltd – 50.59% sense of team spirit. Mr. Azwan Khan Osman Khan Digital Health (Pvt) Ltd (together with Dialog Axiata Dr. Indrajit Coomaraswamy Digital Innovation Fund (Pvt) Ltd) – 55.39% My Health Solutions (Pvt) Ltd – 100% Dialog Values GROUP COMPANY SECRETARY Dialog Axiata Digital Innovation Fund (Pvt) Ltd Service from the Heart Ms. Viranthi Attygalle - Ordinary Shares – 25% and Preference Shares - Scan the QR Code Scan the QR Code to 88.76% Create the Future to directly access the directly access the Dialog Dialog Annual Report Sustainability Report 4. Dialog Device Trading (Pvt) Ltd - 100% Champions of Change 2020 online 2020 online 5. Dialog Business Services (Pvt) Ltd – 100% Exceptional Performance Designed & produced by 6. Dialog Finance PLC – 99.05% Uncompromising Integrity 7. Dialog Network Services (Pvt) Ltd – 100% Responsible Leadership Digital Plates & Printing by 8. Firstsource-Dialog Solutions (Pvt) Ltd - 26% One Team Softwave Printing and Publishing (Pvt) Ltd Introduction to the Company Dialog Axiata PLC, a subsidiary of Axiata Group Berhad The Company forayed into new digital frontiers, (Axiata), operates Sri Lanka’s Leading Quad-Play spearheading technology firsts in South Asia and Sri Connectivity Provider. The Company ranks among Lanka with the commissioning of South Asia’s first the largest listed companies on the Colombo Stock fully functional and standards-compliant 5G pilot Exchange in terms of market capitalisation. Dialog is transmission and Sri Lanka’s first 5G trial network, also Sri Lanka’s largest Foreign Direct Investor (FDI) with showcasing next-generation technology that will propel cumulative investments totalling USD 2.8 Billion. Sri Lanka into the future. The winner of six Global Mobile Awards, Dialog has Dialog Axiata supplements its market leading position the distinction of being voted by Sri Lankan Consumers in the Mobile Telecommunications sector with a robust as the ‘Telecommunication Brand of the Year’ for a footprint and market presence in Sri Lanka’s Fixed record ninth year running, ‘Service Brand of the Year’, Telecommunications, Digital Pay Television, and Financial and ‘Youth Choice – Service Brand of the Year’ at the Services markets through its subsidiaries, Dialog SLIM-Nielsen Peoples Awards 2020. The Company Broadband Networks (Private) Limited (DBN), Dialog was awarded ‘Sri Lanka’s Most Valuable Brand’ for Television (Private) Limited (DTV), Digital Holdings Lanka the Second Consecutive Year and ‘Most Valuable (Private) Limited, and Dialog Finance PLC. DBN is Sri Telecommunications Brand’ for the 13th consecutive Lanka’s second largest Fixed Telecommunications service year in the Brand Finance league table in 2020. It also provider, serving residential and enterprise customers won the TM Forum 2020 Excellence Award in Customer with voice, broadband, leased lines and customised Experience & Trust Category. telecommunication services. Dialog is an ISO 9001 certified Company and has received numerous local and international awards, including the National Quality Award and the Sri Lanka Business Excellence Award, and endorses the worldwide Sustainable Development Goals (SDGs) which aim to build a sustainable future for all by 2030. Dialog has been at the forefront of innovation and digitisation in the mobile industry in Sri Lanka since the late 90’s, propelling the nation’s mobile telephony infrastructure to a level of advancement on par with the developed world. The Company delivers advanced mobile telephony and high-speed mobile broadband services to a subscriber base of 16.2 Million Sri Lankans, via 2.5G and 3G/3.5G and 4G/4.5G networks. Annual Report 2020 1 Message from the Chairman DAVID NAI PEK LAU Chairman/Non-Independent, Non-Executive Director “I am incredibly proud of our 3,000-strong Dialog family and business partners across the country and thankful for their remarkable efforts to keep Sri Lanka connected while enabling Sri Lankans to move forward as one digital society during this time of need.” 2 Dialog Axiata PLC “We harnessed the power of technology to extend an expansive suite of digital solutions and services to over 16 million of our customers in our mission of enabling families, enterprises and communities to cope with the pandemic.” My dear shareholders, at the Homagama Base Hospital and the Negombo Hospital. We also provided critical connectivity, No words can describe the challenges we faced in telemedicine and telepresence solutions to hospitals 2020, which saw the COVID-19 pandemic spread and quarantine centres island-wide and launched a across the world and affect all of us in ways that we toll-free, national COVID-19 medical advisory helpline. could not have imagined. The Dialog team also conducted multiple nationwide COVID-19 relief operations. When I took over in July, I was pleased to see significant work done by Supun and the team, guided To minimise the disruption to the education system by our previous Chairman and the Board of Directors, due to the early closure of schools, Dialog extended to help navigate Dialog through this unprecedented toll-free Distance Learning Solutions to schools across time. I am incredibly proud of our 3,000-strong Dialog the country and provided free access without any Data family and business partners across the country and charges to all official e-Learning platforms of State thankful for their remarkable efforts to keep Sri Lanka Universities, Guru.lk, and e-thaksalawa. To facilitate connected while enabling Sri Lankans to move forward working and learning from home during these as one digital society during this time of need. I challenging times, we extended a host of free services, strongly believe that we will come out of the pandemic concessions and special offers for our Mobile, Home a much stronger and agile organisation. Broadband, Dialog Television and Dialog Enterprise customers. Our earlier work on Digitisation in the previous few years has helped to cushion our revenue which was Though the pandemic has certainly challenged all hit hard by reduced roaming and virtually no income facets of our business, it has also affirmed that we from tourists. Despite the challenges, we harnessed are on the right track in transforming Sri Lanka into a the power of technology to extend an expansive digital nation. We remain committed to continuing our suite of digital solutions and services to over 16 investment programme to provide robust connectivity million of our customers in our mission of enabling across the country, which has now become even more families, enterprises and communities to cope with the imperative as we try and overcome the pandemic pandemic.
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