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The Future Calls

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The Future Calls THE FUTURE CALLS THE FUTURE CALLS - Sri Lanka Telecom PLC. Annual Report 2011 Financial Highlights 3 COLOMBO TO GALLE Corporate Information Management Reviews Chairman’s Message 6 Chief Executive Officer’s Review 14 117km Name of the Company Auditors Management Profiles of optical fibre laid Sri Lanka Telecom PLC KPMG Ford Rhodes, Thornton & Co., (Chartered Accountants), Board of Directors 26 along the Southern No. 32, Sir Mohamed Macan Makar Mw, Colombo 03. Senior Management 29 Legal Form Subsidiary CEOs 32 Expressway to facilitate A public Limited Liability Company incorporated in Sri Lanka in Company Secretary Management & Financial Reviews the information September 1996 under the Conversion of Public Corporations or P W Corporate Secretarial (Pvt) Ltd Management Discussion & Analysis 34 Government Owned Business Undertakings into Public Limited Sri Lanka Telecom Financial Review 50 superhighway for the Companies Act No.23 of 1987 and quoted on the Colombo Stock Credit Rating Mobitel Financial Review 53 Southern Province Governance Exchange in January 2003. Corporate Governance 56 Fitch Rating Lanka Risk Management 61 Company Re registration Number Domestic Rating: AAA (Sri) Sustainability PQ 7 Long Term Local Currency and Foreign Currency Rating: BB- Sustainability Report 66 Financial Information Stock Exchange Listing Standard & Poor’s Annual Report of the Board of Directors 1,804,860,000 Ordinary Shares of the Company are listed in the Foreign Currency Rating: B+ on the Affairs of the Company 92 Colombo Stock Exchange. Local Currency: BB- Remuneration Committee Report 99 Statement of Directors in Relation to Registered Address Bankers their Responsibility for the Preparation Telecom Headquarters, Lotus Road Bank of Ceylon of Financial Statements. 100 People’s Bank Audit Committee Report 101 Colombo 01 Independent Auditors’ Report 103 Commercial Bank of Ceylon PLC Consolidated Income Statement 104 Board of Directors HSBC Bank Consolidated Balance Sheet 105 Nimal Welgama – Chairman Hatton National Bank PLC Consolidated Statement of Changes Sandip Das Sampath Bank in Equity 106 Chan Chee Beng Standard Chartered Bank Consolidated Cash Flow Statement 107 Jeffrey Jay Blatt Seylan Bank Notes to the Consolidated Financial Jayantha Dharmadasa Citibank N.A. Statements 108 Shameendra Rajapaksa Nation Trust Bank Kalinga Indatissa NDB Bank Ten Year Progress -Group 155 Lawrence Michael Paratz Deutsch Bank Value Added Statement 156 Portfolio of Lands 157 Dayananda Widanagamachchi Notice of Annual General Meeting 161 Abbreviations 162 Name of Company Holding Principal Activity Form of Proxy 163 Mobitel (Pvt) Ltd 100% Mobile telephony Sri Lanka Telecom (Services) Ltd 100% Providing total network solutions to Corporate and small business Customers. SLT Hong Kong Ltd 100% Point of Presence - (off shore subsidiary) Providing IP transit services SLT Publications (Pvt) Ltd 100% Directory publication services SLT Visioncom (Pvt) Ltd 100% IPTV operations SLT Manpower Solutions (Pvt) Ltd 100% providing workforce solutions SKY Network (Pvt) Ltd. 99.89% Wimax operations Regional Telecom Offices Teleshops Our Vision Ampara Kalutara Gampaha Ambalangoda Kilinochchi Puttalam THE SOUTHERN Hatton Polonnaruwa Mannar Kandy Mount Lavinia Ja-ela All Sri Lankans seamlessly connected with EXPRESSWAY Matara Baticaloa Trincomalee Matara Embilipitiya Lotus Road world class information, communication and Anuradhapura Kandy Gampola Bandaragama Kotte Slave Island entertainment services. The Southern Expressway at Katunayake Negambo Jaffna night. This is Sri Lanka’s first Havelock Town Panadura Maradana E Class highway. Now 96 Negombo Chilaw Vavuniya Mathugama Gampaha Maharagama kms long, the highway links Avissawella Kegalle Hambantota Bandarawela Kuliyapitiya Thangalle Our Mission Colombo with Galle, and will Kegalle Nittambuwa Kaduwela eventually reduce the time Jaffna Ratmalana Matale Your trusted and proven partner for taken to travel from Colombo Nugegoda Colombo Central Wattala Mattakkuliya Homagama Maradana innovative and exciting communication to Matara from four hours to Badulla Kotte Beruwala Kurunegala Wattala one and a half hours. experiences, delivered with passion, quality Kalmunai Ratnapura Kiribathgoda Piliyandala Kandy City and commitment. Nuwara Eliya Galle Monaragala Horana Matale Bandarawela Kurunegala Biyagama Liberty Plaza Wennappuwa The future calls Anything and everything is possible. Our expertise lies in the ability to seize growth opportunities AND to be willing and ready to meet every challenge with a strategy, every opportunity with a plan. We stay one step ahead. This is how we have grown to be one of the most successful companies in the nation. Connecting the nation is what we do. We serve thousands of people who use our services every minute of every day. Today we see the potential for better technology, speedier connectivity and even more amazing products grow ever greater. WE ARE ONE COUNTRY, WITH ONE VOICE. the future calls. SRI LANKA TELECOM PLC. REFLECTING A NATION’S FUTURE. Sri Lanka Telecom PLC. Annual Report 2011 2 Who We Are Our geographic, divisional and market capabilities Sri Lanka Telecom (www.slt.lk) is one of Sri Lanka’s most services and mobile telephony and mobile broadband through valuable blue chip companies with an annual turnover in its fully owned subsidiary Mobitel. excess of Rs 50 Billion. Sri Lanka Telecom is the nation’s number one integrated communications service provider and With a view to making Sri Lanka a broadband island, SLT is in the leading broadband and backbone infrastructure services the process of introducing the necessary infrastructure in the provider in the country. Listed on the Colombo Stock Exchange, form of NGN [Next Generation Networks] using optical fibre the company’s market capitalization as at 31 December 2011 backbone and broadband services such as IMS, and IPTV. SLT topped Rs 87 Billion. also provides high speed global connectivity to countries in the South Asian region through its investments in international The two main shareholders of Sri Lanka Telecom as at year end submarine cables such as SMW3, SMW4, Bharat Lanka were the Government of Sri Lanka which held 49.5% through submarine cable system [between India and Sri Lanka] and the Secretary to the Treasury and Global Telecommunication Dhirragu-SLT submarine cable system [between The Maldives Holdings N.V. of Netherlands, which owned a 44.98% stake. and Sri Lanka]. The balance shares are publicly traded. Together with its subsidiaries, SLT offers a full gamut of The SLT Group has a customer base of over five million telecommunication solutions. Mobitel, branded Sri Lanka’s including multinational corporations, large and small corporate, National Mobile Service Provider, is technologically at the public sector, retail and domestic customers. The company has cutting edge and a leader in Sri Lanka’s telecommunication been awarded a National Long Term Rating of AAA (lka) and a industry. PEO TV redefined the future of tele-viewing in Sri BB- rating on Long term Local Currency and Foreign Currency Lanka with the launch of Internet Protocol Television (IPTV). by Fitch Ratings, followed by BB- local currency and B+ foreign SLT Publications (Pvt) Ltd. produces the country’s premier currency Credit Ratings by Standard & Poor’s. telephone directory used by the entirety of the industry and accessible worldwide. SLT Services (Pvt) Ltd. provides project SLT provides facilities and services in the areas of voice, data, management and consultancy services to Sri Lanka Telecom video and mobile to its customers. These services, which are for its development projects and system integration to large unmatched in scope, range from domestic and international corporate and SME customers. SLT Manpower Solutions voice, advance data transmission services which include provides the human resource management service to the internet services on leased lines, broadband and dial up, data group by recruiting, training, assessing, outsourcing and circuits, and frame relay solutions to IP services such as IPVPN providing consultancy services. Sky Network operates Sri based on IP-MPLS technology, total corporate solutions of Lanka’s first ever WiMax 16e high speed wireless broadband multiple services, satellite uplink services, IP transit, IPVPN, network to further penetrate broadband services across the IPLC and international voice traffic transit services to global country. telecom operators and corporates, NGN services, wholesale 3 Sri Lanka Telecom PLC. Annual Report 2011 Financial Highlights 2011 2010 Group Revenue (Rs Bn) 50.95 50.25 Operating Profit (Rs Mn) 5,645 5,144 Profit before Tax (Rs Mn) 6,535 5,961 Profit After Tax (Rs Mn) 4,781 3,943 Earnings Per Share (Rs) 2.65 2.18 Company Revenue (Rs Bn) 32.29 33.31 Operating Profit (Rs Mn) 2,818 2,754 Profit before Tax (Rs Mn) 4,807 3,969 Profit After Tax (Rs Mn) 3,562 2,478 Earnings Per Share (Rs) 1.97 1.37 Earnings per Share Dividend per Share Net Assets per Share (Rs) (Cents) (Rs) 3.0 100 30 5 9 6 2 2.5 80 25 29.4 29.6 28.0 27.6 2.65 26.91 0.85 2.0 20 25.66 2.18 60 1.5 1.97 15 40 0.60 1.0 1.37 10 0.68 0.5 0.43 20 5 0.25 0.0 0 0 2009 2010 2011 2009 2010 2011 2009 2010 2011 Company Group Company and Group (2011 - Proposed) Company Group Management Reviews Chairman’s Message 6 Chief Executive Officer’s Review 14 “While the telecommunication industry will be a strategic catalyst in envisioning the knowledge hub aimed at making Sri Lanka a BPO and KPO destination, the industry is also tasked with being the axis upon which the other hubs will THE BANDARANAIKE be built upon. All mega infrastructure INTERNATIONAL AIRPORT projects must rely on state of the art In October 2003 SLT launched a Wi-Fi Internet Zone at the telecommunication solutions and we Katunayake International Airport. The Wi-Fi Hotspot believe that in fulfilling this responsibility, enables people to keep in touch with office and we as the national telecommunication home, and to surf the net for information and solutions provider, has made the country entertainment while waiting to board their aircraft.
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