Abans PLC / Annual Report 2017/18
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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). -
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. -
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 (%) -
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 -
John Keells Holdings (JKH) 1Q19 Results Update
John Keells Holdings JKH - Rs.136.1 Yasas Wijethunga Key Highlights [email protected] 1Q19 Results Update +94 77 053 2059 ❑ 1Q19 NP of Rs.2,361mn (-22% YoY), below our expectations, amid decline in earnings in Leisure, ‘Others’, Consumer Foods and Retail Sectors ❑ JKH’s group NP forecast revised down by -7% to Rs.15,479mn for FY19E (-9% YoY on a recurring basis) and by -6% to Rs.16,627mn for FY20E (+7% YoY), amid continued pressure on earnings expected from Leisure, Consumer Foods and Retail sectors. NP expected to rebound in FY21E to Rs.22,371mn (+35% YoY) amid the profit recognition of Cinnamon Life apartment projects. Subsequently, NP forecast 01 August 2018 at Rs.22,600mn in FY22E (+1% YoY) Sri Lanka ❑ The JKH share underperformed the broader market during last 12 and three Diversified Holdings months declining -21% and -17% respectively (vs. ASI’s decreases of -7% and -6% respectively) – the share was removed from MSCI Frontier Markets 100 Index in Jun 2018 as the company failed to meet the minimum liquidity requirement ❑ The JKH share trades at forward PER multiples of 12.2X for FY19E, 11.4X for FY20E, 8.4X for both FY21E and FY22E ❑ Based on our estimated break up Sum of The Parts (SOTP) valuation of Rs.167, the JKH share is currently trading at a 23% discount ❑ Despite the decrease in earnings, we believe that the extent of the recent share price decline seems unwarranted. Whilst, near term earnings weakness may remain due to expansion and construction related expenses in key sectors, we believe current share price provide a decent entry point to value oriented investors. -
IE Singapore Partners SBF to Help Singapore Companies in Consumer, Tourism and Infrastructure Access Opportunities in Sri Lanka
JOINT R EL E AS E IE Singapore partners SBF to help Singapore companies in consumer, tourism and infrastructure access opportunities in Sri Lanka MR No.: 004/18 Singapore, Wednesday, 24 January 2018 1. Following the signing of the Sri Lanka-Singapore Free Trade Agreement (SLSFTA), three Singapore companies sealed deals with Sri Lankan partners today. To capture opportunities in this growing market, Food Studio1, Ark Holdings2 and HPL Hotels & Resorts3 signed four agreements for new projects across food, aquaculture, hospitality and infrastructure at the Sri Lanka-Singapore Business Forum 2018 (Please see Annex 1 for details). The forum was organised by International Enterprise (IE) Singapore, Singapore Business Federation (SBF), Ceylon Chamber of Commerce and Sri Lanka Singapore Business Council. The signings were witnessed by Sri Lankan Minister of Development Strategies and International Trade, Malik Samarawickrama and Singapore Minister for Trade and Industry (Industry) S. Iswaran, who is in Sri Lanka for the SLSFTA signing. 2. With an economy worth S$107.5 billion4 in 2016, Sri Lanka is targeted to grow at 5% in 20185, among the fastest in Asia. As Sri Lanka’s third largest import partner, Singapore has close trade ties with Sri Lanka (Please see Annex 2 for an infographic on Singapore-Sri Lanka trade). With Sri Lanka’s strategic location along the East-West shipping route and the new SLSFTA lowering trade barriers, Singapore companies can leverage Sri Lanka’s connectivity to enter markets in South Asia. IE Singapore has been partnering Singapore companies closely to explore opportunities in Sri Lanka 1 Food Studio is a food court operator. -
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+ -
Annual Repor T 2017/18
ANNUAL REPORT 2017/18 ODEL PLC | ANNUAL REPORT 2017/18 CORPORATE INFORMATION NAME OF COMPANY SECRETARIES AND REGISTRARS Odel PLC Softlogic Corporate Services (Pvt) Ltd No 14, De Fonseka Place, LEGAL FORM Colombo 5. Public Limited Liability Company Incorporated in Sri Lanka in 1990 AUDITORS Ernst & Young VISION, MISSION & OUR VALUES | 2 REGISTERED OFFICE OF THE COMPANY Chartered Accountants, ODEL AT A GLANCE | 3 475/32, Kotte Road, 201 De Saram Place, 2017/18 IN BRIEF | 4 Rajagiriya. P.O. Box 101, CONTENTS CHAIRMAN’S MESSAGE | 6 Colombo. BOARD OF DIRECTORS | 10 COMPANY REGISTRATION NO. SENIOR MANAGEMENT TEAM | 12 PV 7206 PQ BANKERS Bank of Ceylon MANAGEMENT DISCUSSION & ANALYSIS DIRECTORS Commercial Bank Mr. A K Pathirage - Chairman/Executive Director DFCC Bank OPERATING ENVIRONMENT | 18 Mr. H K Kaimal - Non Executive Director Hatton National Bank SHOPPING EXPERIENCE AND EXPANSION | 27 Dr. S Selliah - Independent Non Executive Director Nation Trust Bank OUR EMPLOYEES AND VALUES | 30 Mr. R P Pathirana - Independent Non Executive Director Sampath Bank SUSTAINABLE DEVELOPMENT | 38 Dr. I C R De Silva - Independent Non Executive Director Seylan Bank Union Bank CORPORATE GOVERNANCE | 40 AUDIT COMMITTEE RISK MANAGEMENT | 42 Mr. R P Pathirana - Chairman INVESTOR RELATIONS Dr. S Selliah REPORT OF THE RELATED PARTY TRANSACTIONS REVIEW COMMITTEE | 45 Odel PLC Dr. I C R De Silva 475/32, Kotte Road, REPORT OF THE REMUNERATION COMMITTEE | 46 Rajagiriya. REPORT OF THE AUDIT COMMITTEE | 47 REMUNERATION COMMITTEE Tel: 0115885000 Mr. R.P Pathirana web: www.odel.lk FINANCIAL INFORMATION Dr. S Selliah ANNUAL REPORT OF THE BOARD OF DIRECTORS RELATED PARTY TRANSACTIONS REVIEW COMMITTEE ON THE AFFAIRS OF THE COMPANY | 51 Dr. -
Industry Group Review
Management Discussion and Analysis Industry Group Review Harnessing innovation, dynamism and talent 115 INDUSTRY GROUP REVIEW Transportation The “MT LM Mahaweli”, Sri Lanka’s first double hulled, double bottomed bunker barge commissioned by LMS Vision and Scope Ports and Transportation Shipping The vision of the Transportation industry group is to be recognised as a leading provider of Transportation solutions and related services through a diversifed portfolio of businesses in selected markets. These operations comprise of a container terminal in the Port of Colombo, a marine bunkering business, joint venture/associations with leading shipping, logistics and air transportation multinationals, as well as travel and airline services in Sri Lanka and the CARBON FOOTPRINT Maldives. Contribution to JKH Group 12,714 MT (2016/17: 11,309 MT) 19% Revenue 12% EBIT EBIT 8% Capital employed Rs.3.33 bn 13% Carbon footprint (2016/17: Rs.3.12 bn) 116 John Keells Holdings PLC . Annual Report 2017/18 Management Discussion and Analysis Industry Group Structure Transshipment trafc in the region recorded an increase facilitated by global and regional Transportation trade growth and the advent of major shipping lines through acquisitions and alliances with expansive vessel-sharing Ports and Shipping Transportation agreements. The Port of Colombo handled 6.2 Operation of a container terminal Logistics services include the operation of : million twenty-foot equivalent units (TEUs) in the Port of Colombo as a • DHL air express in Sri Lanka during the calendar year 2017, a growth of 8 public-private partnership on a • A joint venture with Deutsche Post per cent [CY2016: 5.7 million TEUs]. -
210 X 99Mm Offer Booklet 2020 April
Enjoy a host of Discounts and Oers islandwide, across 4,000 partner merchant locations with the NDB Credit Cards in this Avurudu season. Credit Cards NDB Bank is a member of the NDB Group, the largest financial services conglomerate in Sri Lanka. Clothing and Accessories Vogue Jewellers ZigZag Store - Col. 3 Up to 35% O House of Fashions - Col. 4 & 8 on Diamond and Coloured 30% Savings 30% Savings on Credit & Stone Jewellery, on Credit Cards Up to 15% O 7th, 14th, 22nd, 29th Mar. & 15% Savings on 22kt Gold Jewellery 1st, 4th, 7th, 12th Apr. 2020 on Debit Cards th th th th Credit Cards 7 , 8 Mar. & 8 , 9 Apr. 2020 6th, 7th Mar. & 3rd, 4th Apr. 2020 Aditi Infinity - All Outlets Glory Swim Shop - Col. 5 Nils Store 30% Savings 30% Savings on Credit & 15% Savings on Credit & on Credit Cards 15% Savings 15% Savings 7th, 8th Mar. 2020 on Debit Cards on Debit Cards th th 13th, 14th Mar. & 17th, 18th Apr. 2020 13 , 14 Mar. 2020 The Deep End - Col. 5 Super Fashion - Panadura Double XL - Col. 4 25% Savings 25% Savings 20% Savings on Credit & on Credit & on Credit & 10% Savings 10% Savings 10% Savings on Debit Cards on Debit Cards on Debit Cards 13th, 14th Mar. 2020 13th, 14th Mar. & 6th Apr. 2020 14th, 15th Mar. 2020 DXL - One Galle Face Mall Jump - Col. 5 20% Savings 25% Savings Adidas - All Outlets on Credit & on Credit & 25% Savings 10% Savings on Credit Cards 10% Savings 14th, 15th Mar. & 8th, 9th, 10th Apr. 2020 on Debit Cards on Debit Cards 14th, 15th Mar. -
CT Holdings Completed 90 Set up by Ceylon Theatres Years of Operations at Arcade Independence Square, the Group’S Regal Cinema Was Refurbished
Creating Value since 1928 C T HOLDINGS PLC ANNUAL REPORT 2018 | 2019 Contents Our Business at a Glance 01 Milestones 02 Profile of Businesses 04 Financial Highlights 06 Operational Spotlight 07 Chairman’s Message 08 Profile of Directors 10 Review of Operations 12 Corporate Governance 18 Risk Management 21 Report of the Remuneration Committee 23 Report of the Nominations Committee 24 Report of the Related Party Transactions Review Committee 25 Financial Statements Annual Report of the Board of Directors of the Company 29 Report of the Audit Committee 32 Statement of Directors Responsibility 34 Independent Auditors’ Reports 35 Statement of Profit or Loss and Other Comprehensive Income 40 Statement of Financial Position 41 Statement of Changes in Equity 42 Statement of Cash Flows 44 Notes to the Financial Statements 46 Five Year Review - Group 126 Group Directory 127 Information of Shareholders 130 Notice of Meeting 133 Form of Proxy 135 Corporate Information Inner Back Cover Our Business at a Glance C T Holdings PLC then known as Ceylon Theatres Limited was incorporated in 1928 with its primary focus on the entertainment industry. The Company owned and operated a string of cinemas in various parts of the country including such well known destinations such as Regal Colombo, Empire and Majestic cinemas. The Company also set up the first film production and processing facilities in the country with the establishment of Ceylon Studios Ltd in 1956, thus paving the way for the development of the local film production expertise. Despite the Company’s first production “Asokamala” being unsuccessful, the Company persevered to subsequently produce hit films such as “Golu Hadawatha”, “Akkara Paha”, “Sakman Maluwa” etc. -
Tie up with Condominium Apartments
Tie up with Condominium Apartments Name of the Project Lending % Contact Point Colombo City Centre (at 1 Ganagaramaya) Up to 75% Mr Richard Buultjens (General Manager ) - 0718 440308 of the value of the Abans & SilverNeedle Hospitality apartment Mr Mayurr Hasarika (Sales Manager) - 0712 513213 2 Havelock City (Phase III) Up to 80% Ms Dilkushi Jayawardena ( Senior Executive) of the value of the - 0773 262950 Mireka Capital & Overseas Reality apartment Prime Residencies Bauddhaloka Mw Mrs Dilukshi Rajakaruna (Sales Executive ) 3 II (at Colombo 04) Up to 75% - 0710 200556 of the value of the Prime Lands apartment Mr Sudath Siriwardena (General Manager) - 0714 756007 Prime Residencies Barnes Place (at Mrs Dilukshi Rajakaruna (Sales Executive ) 4 Barnes Place) Up to 75% - 0710 200556 of the value of the Prime Lands apartment Mr Sudath Siriwardena (General Manager) - 0714 756007 Prime Residencies Malabe (at Mrs Dilukshi Rajakaruna (Sales Executive ) 5 Malabe) Up to 75% - 0710 200556 of the value of the Prime Lands apartment Mr Sudath Siriwardena (General Manager) - 0714 756007 Prime 616 - Ethul Kotte II (at Ethul Mrs Dilukshi Rajakaruna (Sales Executive ) 6 Kotte) Up to 75% - 0710 200556 of the value of the Prime Lands apartment Mr Sudath Siriwardena (General Manager) - 0714 756007 Prime Residencies Ethul Kotte (at Mrs Dilukshi Rajakaruna (Sales Executive ) 7 Ethul Kotte) Up to 75% - 0710 200556 of the value of the Prime Lands apartment Mr Sudath Siriwardena (General Manager) - 0714 756007 Mrs Dilukshi Rajakaruna (Sales Executive ) 8 Prime