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Be Yourself; Everybody Else Is Already Taken

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Be Yourself; Everybody Else Is Already Taken BE YOURSELF; EVERYBODY ELSE IS ALREADY TAKEN. ANNUAL REPORT 2013/2014 BEING YOU. 2GHOKHOSVPLOOLRQVÀQGDQGH[SUHVVWKHLURZQXQLTXHVHOYHV ZLWKYHUYHJODPRXUDQGÁDLU$WRXUUHWDLOSRLQWVDPRQJRXU PDQ\EUDQGVDQGOLQHVRXUFXVWRPHUVÀQGLQVSLUDWLRQDQG HOHPHQWVWRFUHDWHWKHLURZQSHUVRQDOXQLTXHVWDWHPHQW $OZD\VLQQRYDWLYHSURYLGLQJH[SUHVVLRQWRRXUFXVWRPHU·V DVSLUDWLRQVDQGFRPPLWWHGWRWKHYLVLRQRIDEHWWHUZRUOG 2GHO8QLTXHO\LWVHOI ODEL ANNUAL REPORT 01 BEING INSPIRED. VISION 7RLQVSLUHWKHZRUOG MISSION 7RSURYLGHDFRPSOHWH0LQG%RG\ DQG6RXOH[SHULHQFHZLWKDQXQSDUDOOHOHG VHOHFWLRQRIIDVKLRQDQGOLIHVW\OHSURGXFWVLQ DQHQYLURQPHQWWKDWLVHQMR\DEOH DQGZHOFRPLQJ VALUES :HORYHZHVHUYHZHVW\OHZH LQQRYDWHZHJLYHZHVDYHZHHQMR\DQG ZHLQVSLUH 02 ODEL ANNUAL REPORT ODEL ANNUAL REPORT 03 CHAIRMAN’S LETTER 'HDU6KDUHKROGHU 2QEHKDOIRIWKH%RDUGRI'LUHFWRUVRI2GHO3/&, XVWRQRZVHUYHRXUFXVWRPHUVHYHQEHWWHUDQGDUH DPSOHDVHGWRSUHVHQWWR\RXWKH$QQXDO5HSRUWDQG PDNLQJVLJQLÀ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ÀFHU :HKDYHEHHQFRQVWDQWO\LQWHJUDWLQJPRUHSURGXFWLYH ZD\VRIZRUNLQJDFURVVRXUEXVLQHVVIURPGHVLJQ WRSURGXFWLRQORJLVWLFVDQGUHWDLOWRLPSURYLQJ RSHUDWLRQDOHIÀ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ÀFLHQWVXSSO\FKDLQPDQDJHPHQWZHZHUHDEOHWRRIIVHWWKLVWRDJUHDWH[WHQWDQG KRSHWRVHHLPSURYHPHQWWRWKHERWWRPOLQHLQWKH\HDUVDKHDG 27$5$*81(:$5'(1( (;(&87,9(',5(&725&(2 REVENUE RS MN TOTAL ASSETS RS MN TOTAL EQUITY RS MN NET PROFIT RS MN 08 ODEL ANNUAL REPORT ODEL ANNUAL REPORT 09 BOARD OF DIRECTORS RUCHI GUNEWARDENE OTARA GUNEWARDENE SANJAY KULATUNGA CHAIRMAN EXECUTIVE DIRECTOR/CEO NON-EXECUTIVE INDEPENDENT DIRECTOR Mr. Gunewardene is the Managing Otara is the founder of Odel and ^ĂŶũĂLJ<ƵůĂƚƵŶŐĂŚĂƐĞdžƉĞƌŝĞŶĐĞĂƐĂ Director of STING Consultants and ŚĂƐƐĞƌǀĞĚĂƐKƐŝŶĐĞŝŶĐĞƉƟŽŶ͘ ĨŽƵŶĚĞƌĂŶĚĂŶdžĞĐƵƟǀĞŝƌĞĐƚŽƌŝŶĂ Brand Finance Lanka, Sri Lanka’s only graduate in Biology from The Bowling diverse array of industries ranging from ĨƵůůLJͲŝŶƚĞŐƌĂƚĞĚƐƚƌĂƚĞŐŝĐŵĂƌŬĞƟŶŐ Green State University, Ohio, Otara’s Finance, Export manufacturing and ĂŶĚďƌĂŶĚĐŽŶƐƵůƟŶŐĮƌŵƐ͘,ĞĐŽƵŶƚƐ entry into the fashion retail business /ŵƉŽƌƚƐƵďƐƟƚƵƟŽŶ͘,ĞŚŽůĚƐĂƐĞƌŝĞƐŽĨ ŽǀĞƌƚǁŽĚĞĐĂĚĞƐŽĨŵƵůƟŶĂƟŽŶĂů followed a chance request by an apparel ŶŽŶͲdžĞĐƵƟǀĞŝƌĞĐƚŽƌƐŚŝƉƐŝŶůŝƐƚĞĚĂƐ experience as the former Country manufacturer to help him dispose of an well as unlisted companies. Manager/CEO of Coca-Cola Sri Lanka, assortment of export surplus garments, ZĞŐŝŽŶĂůDĂƌŬĞƟŶŐDĂŶĂŐĞƌĨŽƌ which she sold from the boot of her ,ĞĂůƐŽƐĞƌǀĞƐŽŶƚŚĞ&ŝŶĂŶĐŝĂů^ĞĐƚŽƌ ƚŚĞŽĐĂͲŽůĂŽŵƉĂŶLJĂŶĚ,ĞĂĚ car. From being a sole proprietor of one ^ƚĂďŝůŝƚLJŽŶƐƵůƚĂƟǀĞŽŵŵŝƩĞĞŽĨƚŚĞ ŽĨDĂƌŬĞƟŶŐŽĨ'ůĂdžŽ^ŵŝƚŚ<ůŝŶĞ store in 1990, she pioneered a fashion Central Bank of Sri Lanka. Consumer, Sri Lanka. Prior to this, he retailing phenomenon and has piloted ǁĂƐĞŵƉůŽLJĞĚďLJŵƵůƟŶĂƟŽŶĂůƐZĞĐŬŝƩ Odel through two decades of explosive ^ĂŶũĂLJ<ƵůĂƚƵŶŐĂŚĂƐĂDĨƌŽŵƚŚĞ Benckiser and JWT in their Sri Lankan growth and expansion. University of Chicago ‘Booth School of ŽƉĞƌĂƟŽŶƐ͘Dƌ͘'ƵŶĞǁĂƌĚĞŶĞŚŽůĚƐĂ ƵƐŝŶĞƐƐ͛͘,ĞŝƐĂŶƐƐŽĐŝĂƚĞŵĞŵďĞƌŽĨ ĂĐŚĞůŽƌŽĨ^ĐŝĞŶĐĞ͕,ŽŶŽƵƌƐĞŐƌĞĞŝŶ KƚĂƌĂŚĂƐƚŚĞĚŝƐƟŶĐƟŽŶŽĨďĞŝŶŐƚŚĞ ƚŚĞŚĂƌƚĞƌĞĚ/ŶƐƟƚƵƚĞŽĨDĂŶĂŐĞŵĞŶƚ Applied Biology from the University ĮƌƐƚĨĞŵĂůĞĞŶƚƌĞƉƌĞŶĞƵƌƚŽƚĂŬĞĂ Accountants (ACMA) as well as a ŽĨĂƚŚ͕h<͘ company public in Sri Lanka, when Odel Chartered Financial Analyst (CFA). launched an IPO in July 2010. Following the entry of Parkson Retail Asia 2012, Otara retains a 29.7 per cent stake of KĚĞůW>͘,ĞƌĞŶƚƌĞƉƌĞŶĞƵƌƐŚŝƉǁĂƐ globally recognised in 2010 when she was named the best female entrepreneur at the seventh US Stevie Awards for Women in Business. 10 ODEL ANNUAL REPORT ODEL ANNUAL REPORT 11 BOARD OF DIRECTORS DATUK LEE KOK LEONG NON-EXECUTIVE NON-INDEPENDENT DIRECTOR ĂƚƵŬ>ĞĞ<ŽŬ>ĞŽŶŐŚĂƐďĞĞŶƐĞƌǀŝŶŐ as Personal Assistant to Tan Sri William Cheng, Group Chairman of the Lion Group of Companies since 2010 and assists the Chairman in the retail, branding and property divisions in the Group. EARDLEY PERERA PAUL TOPPING Datuk Lee has accumulated vast HAMID GHAZALI HUSSAIN WONG SIEW CHUAN TIANG CHEE SUNG NON-EXECUTIVE INDEPENDENT NON-EXECUTIVE INDEPENDENT ĞdžƉĞƌŝĞŶĐĞĂŶĚŝŶƟŵĂƚĞŬŶŽǁůĞĚŐĞŽĨ NON-EXECUTIVE INDEPENDENT NON-EXECUTIVE NON-INDEPENDENT NON-EXECUTIVE NON-INDEPENDENT DIRECTOR DIRECTOR the retail and branding industry with DIRECTOR DIRECTOR DIRECTOR ŽǀĞƌϭϱLJĞĂƌƐŝŶƚŚŝƐďƵƐŝŶĞƐƐ͘,ĞŚĂƐ ALTERNATE DIRECTOR TO worked in Padini, the largest branded PAUL TOPPING Eardley Perera is a Chartered Marketer Paul Topping counts over three clothing and accessories company in ĂŶĚ'ƌĂĚƵĂƚĞŽĨƚŚĞŚĂƌƚĞƌĞĚ/ŶƐƟƚƵƚĞ ĚĞĐĂĚĞƐŽĨŝŶƚĞƌŶĂƟŽŶĂůĞdžƉĞƌŝĞŶĐĞ Malaysia, which is currently achieving a ŽĨDĂƌŬĞƟŶŐ͕h<ǁŝƚŚĂŵĞŵďĞƌƐŚŝƉ in both fashion and travel retailing in turnover of approximately over RM700 ,ĂŵŝĚ'ŚĂnjĂůŝ,ƵƐƐĂŝŶŝƐĂŶƩŽƌŶĞLJͲĂƚͲ Wong Siew Chuan joined Parkson Tiang Chee Sung currently holds the ƐƉĂŶŶŝŶŐŽǀĞƌĨŽƌƚLJLJĞĂƌƐ͘,ĞŚĂƐŚĂĚ the European, American and Asian million per annum. Law, former State Counsel and former in 1995 and expanded her role to ƉŽƐŝƟŽŶŽĨƐƐŝƐƚĂŶƚ'ĞŶĞƌĂůDĂŶĂŐĞƌ extensive management training in ĐŽŶƟŶĞŶƚƐ͘,ĞƐĞƌǀĞĚĂƐůƉŚĂ͛Ɛ >ĞŐĂůŽŶƐƵůƚĂŶƚƚŽhE,Z,ŽŶŐ<ŽŶŐ͘
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