DOCSLIB.ORG

CT Holdings Completed 90 Set up by Ceylon Theatres Years of Operations at Arcade Independence Square, the Group’S Regal Cinema Was Refurbished

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
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. The hit film “Nidhanaya” was adjudged the best Sri Lankan film produced in the past 50 years. Anticipating the effects of the changes within the film industry in the 1970s and 80s, the Company began to diversify into other areas of business, notably, consolidating its interest in Millers Limited and through it, Cargills (Ceylon) Ltd. Millers Ltd was subsequently merged with C T Holdings PLC. The Company also diversified into Financial Services and Real Estate. The subsidiary Cargills shed the Department Store concept to introduce and expand the Supermarket concept to Sri Lanka. This change was to be the most significant change to the Group and the backbone of future growth. Cargills also expanded into Food Processing, Dairy, Agri Business and Confectionery. A fully fledged Commercial Bank under the name ‘Cargills Bank’ has also been set up by the Group. All this while also staying true to its roots in cinema business by developing cinemas with digital sounds, 3D viewing and upgrading facilities for patrons. C T Holdings is now a diversified Group with interest in Retail, Fast Moving Consumer Goods, Distribution, Real Estate, Entertainment, Banking and Financial Services. C T HOLDINGS PLC 01 Annual Report 2018 | 2019 Milestones 2006 1928 Cargills commissioned its Ceylon Theatres new state-of-the art meat Limited established, processing facility. focusing primarily on the entertainment industry by Sir Chittampalam A. Gardiner. 2008 Ceylon Theatres merged with 1991 its subsidiary Millers PLC to create an investment holding Completed the Majestic City Company. shopping and entertainment Cinema exhibition operation mall through C T Land transferred to a wholly Development PLC. owned subsidiary, Ceylon Theatres (Private) Limited. 2010 Name of Ceylon Theatres 1996 PLC changed to C T Holdings PLC KFC franchise awarded to Cargills. 2002 Cargills acquired the Walls Ice Cream plant and CPC/ Best foods production facility of jams, cordials and sauces. 1981 Acquired Millers and Cargills 1999 and ventured into retail Entered the Ceramic / Tiles, and distribution under the Plantation and Packaging leadership of Mr. Albert A 2009 sectors. Page. C T Properties Limited 1992 completed its flagship ‘Empire’ residential Entered the financial services sector through development project. C T Smith Stockbrokers (Member, Colombo Stock Exchange) – now re named as C T CLSA Securities (Private) Limited. Cargills diversified into food processing with the acquisition of the Goldi processed meat plant – now known as Cargills Quality Foods Ltd. C T HOLDINGS PLC Annual Report 2018 | 2019 02 2017 2012 Cargills commissioned the Cargills entered the brewery expanded dairy facility. sector. Cargills Square mall Ceylon Theatres added three Gampaha opened with a new screens to the Majestic 2015 supermarket, KFC and two Cineplex including Sri cinema screens. Lanka’s first ever 3D cinema. Retail sector comprising the supermarkets spun off into a separate company with new direct equity injection into the Company. 2019 Two new cinema screens CT Holdings completed 90 set up by Ceylon Theatres years of operations at Arcade Independence Square, the Group’s Regal cinema was refurbished. Cargills exited the brewery sector. 2013 2016 Cargills set up the Cargills Bank began expansion TGI Fridays Franchise of its network by opening 11 Restaurant in branches. Colombo, Fort. 2014 2018 Group received license Regal Cinema in Nuwara 2011 to set up and operate a Eliya fully refurbished and Cargills acquired controlling Commercial Bank. re-opened. interest in Kotmale Holdings Cargills Square Mall opened PLC. in Jaffna. Cargills also acquired Exited the Ceramic / Tiles, Diana Biscuits Plantation and Packaging Manufacturers (Private) sectors. Limited (subsequently re-named Cargills Quality Confectioneries (Pvt) Ltd). C T HOLDINGS PLC 03 Annual Report 2018 | 2019 Profile of Businesses Retail and Wholesale Distribution Fast Moving Consumer Goods Real Estate The retail sector of the Group functions (FMCG) C T Land Development is a long under Cargills Foods Company (Pvt) The Group’s FMCG brands are some of established name in the Real Estate Ltd. The modern trade arm covers all the widest consumed household brands and Property sector. The Company districts of the island through Cargills in the Country which include, ‘Magic’ owns and operates ‘Majestic City’, the Food hall, Food City and Food City and ‘Kotmale’ dairy products, ‘Kist’ largest and most popular shopping Express store formats. This sector range of jams, cordials, nectars, juices and entertainment mall in the Country. maintains a backward integration model culinary & confectionery and, ‘Cargills The Group also owns and operates with local fruit and vegetable collection Finest’, ‘Goldi’ and ‘Sams’ and 'Island's the Cargills Square Malls in Jaffna centres in every district of the island. Finest' Convenience Foods. The sector and Gampaha. Property development operates some of the most modern operations under C T Properties Millers Limited the marketing and facilities with many ISO International previously completed the ‘Empire’ distribution arm holds the agency rights Standard certifications among them luxury apartment complex in Colombo for leading international food brands such as ISO 9001: 2000 Quality 2 and C T Gardens Township project in reaching 40,000 groceries islandwide. Management System certification, ISO Piliyandala. The Company is also the distributor for 22000: 2005 Food Safety Management the Group’s own brands. System certification and ISO 14001: 2004 Environment Management System certification. C T HOLDINGS PLC Annual Report 2018 | 2019 04 Restaurants Banking and Financial Services Entertainment The restaurants’ sector includes the Cargills Bank which was promoted and The Group has been associated world renowned ‘KFC’ and ‘TGI Fridays’ launched by the Group completed its with the national cinema industry for franchises with 39 KFC restaurants and third year of operations. Capital Market over 90 years with the making of the one flagship TGIF Restaurant. operations of the Group are carried out first national production and thereon under C T CLSA Holdings Ltd, which producing landmark motion pictures that covers stockbroking, advisory services have won international acclaim. Ceylon and capital market solutions. Theatres (Private) Limited is engaged in operating Fifteen cinema screens in Seven locations. C T HOLDINGS PLC 05 Annual Report 2018 | 2019 Financial Highlights Group Company In thousands of rupees 2019 2018 Change % 2019 2018 Change % Operations Revenue 95,547,360 92,134,483 3.70 - - - Results from operating activities 5,233,973 6,802,234 (23.06) (75,591) 32,887 (329.85) Profit before taxation 3,888,474 5,791,257 (32.86) 362,777 1,138,168 (68.13) Profit for the year 2,384,237 3,739,465 (36.24) 354,874 1,119,572 (68.30) Profit attributable to owners of the Parent 1,642,624 2,597,342 (36.76) 354,874 1,119,572 (68.30) Per Share Data Earnings Per Share (Rs.) 8.16 12.90 (36.78) 1.76 5.56 (68.31) Dividends Per Share (Rs.) 5.50 5.50 (67.27) 5.50 5.50 (67.27) Dividend Cover (Times) 1.48 2.35 (37.02) 0.32 1.01 (61.31) Shareholders’ Interest Stated Capital 6,489,758 6,489,758 6,489,758 6,489,758 Total equity attributable to equity holders of the parent 21,448,353 20,657,466 7,623,748 7,700,164 Return on equity attributable to equity holders of the parent (%) 7.66 12.57 4.65 14.54 Total equity attributable to equity holders of the parent per Share (Rs.) 106.49 102.57 37.85 38.23 Leverage Net Finance Costs (1,425,141) (1,319,208) 438,368 1,105,281 Interest Cover (Times) 3.27 4.67 4,425.11 6,120.18 Borrowings (including overdrafts) 16,935,443 14,719,710 - - Borrowing as a Percentage of total equity attributable to equity holders of the parent (%) 95..7 86.21 N/A N/A Note Earnings, dividends and shareholders’ funds per share have been calculated based on the number of issued shares presently in issue. 0.56% 0.55% 3.79% 0.37% 3.92% 0.37% 15.73% 15.16% Retail Retail Composition of Group FMCG Composition of Group FMCG Revenue 2019 Restaurant Revenue 2018 Restaurant Real Estate Real Estate Entertainment Entertainment 79.55% 80% C T HOLDINGS PLC Annual Report 2018 | 2019 06 Operational Spotlight Revenue - Group Profit for the Year Attributable - Group Profit for the year - Group (Rs.
Load more

Recommended publications
  • CT Holdings Group for Development of the Management and Rs
    Creating Value since 1928 C T Holdings PLC - Annual Report 2017-18 Contents Our Business at a Glance 01 / Milestones 02 / What we do... 04 / Financial Highlights 06 / Chairman’s Report 08 Profile of Directors 11 / Review of Operations 14 / Corporate Governance 22 / Risk Management 25 Report of the Remuneration Committee 27 / Report of the Nominations Committee 28 Report of the Related Party Transactions Review Committee 29 Financial Statements Annual Report of the Board of Directors of the Company 33 / Report of the Audit Committee 36 Statement of Directors’ Responsibilities 38 / Independent Auditors’ Report 39 Statement of Profit or Loss and other Comprehensive Income 44 / Statement of Financial Position 45 Statement of Changes in Equity 46 / Statement of Cash Flows 48 Notes to the Financial Statements 50 / Five Year Review – Group 123 / Group Directory 124 Information to Shareholders 127 Notice of Meeting 130 / Form of Proxy 131 / Corporate Information Inner Back Cover We are... Professionals inspired by the ingrained family values inherited over generations Value Creators driven by innovation and technology towards building strong brands Accountable firmly committed to transparency and good governance brands Dedicated to people as our most important asset Socially Responsible pursuing trusted leadership 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.
    [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]
  • 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]
  • CT Holdings Completed 90 Direct Equity Injection Into the Years of Operations Company
    Creating Value since 1928 C T HOLDINGS PLC ANNUAL REPORT 2019 | 2020 CONTENTS Overview Our Business at a Glance 01 Milestones 02 Profile of Businesses 04 Financial Highlights 06 Operational Spotlight 07 Stewardship 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 27 Financial Reports Annual Report of the Board of Directors of the Company 29 Report of the Audit Committee 32 Statement of Directors Responsibility 34 Independent Auditors’ Report 35 Statement of Profit or Loss and Other Comprehensive Income 42 Statement of Financial Position 43 Statement of Changes in Equity 44 Statement of Cash Flows 46 Notes to the Financial Statements 48 Supplementary Five Year Review - Group 134 Group Directory 135 Information of Shareholders 138 Notice of Meeting 141 Notes 142 Form of Proxy 143 Corporate Information Back Cover Inner 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.
    [Show full text]
  • 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.
    [Show full text]
  • CT Holdings Rs
    Creating Value since 1928 C T Holdings PLC Annual Report 2015/16 CONTENTS 02 Our Business at a Glance 04 Milestones 06 Our Presence 08 Financial Highlights 10 Chairman’s Statement 12 Profile of Directors 14 Management Discussion and Analysis 20 Corporate Governance 22 Risk Management 24 Report of the Audit Committee 26 Report of the Remuneration Committee 27 Related Party Transactions Review Committee Report 28 Report of the Nominations Committee Financial Statements 30 Annual Report of the Board of Directors of the Company 32 Statement of Directors’ Responsibilities 33 Independent Auditors’ Report 34 Statement of Profit or Loss and other Comprehensive Income 35 Statement of Financial Position 36 Statement of Changes in Equity 38 Statement of Cash Flows 40 Notes to the Financial Statements 99 Five Year Review - Group 100 Group Directory 102 Information to Shareholders 104 Notice of Meeting 107 Form of Proxy Inner Back Cover Corporate Information We are... Professionals inspired by the ingrained family values inherited over generations Value creators driven by innovation and technology towards building strong brands Accountable firmly committed to transparency and good governance Dedicated to people as our most important asset Socially responsible pursuing trusted leadership C T Holdings PLC Annual Report 2015/16 01 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 as Regal Colombo, Empire and Majestic cinemas. C T Holdings is 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 now a diversified the development of the local film production expertise.
    [Show full text]
  • CT HOLDINGS PLC Annual Report 2020 2021
    Creating Value since 1928 C T HOLDINGS PLC Annual Report 2020 2021 CONTENTS Overview Our Business at a Glance 01 Milestones 02 Profile of Businesses 04 Financial Highlights 06 Operational Spotlight 07 Stewardship Chairman’s Message 08 Profile of Directors 13 Corporate Governance 16 Risk Management 19 Report of the Remuneration Committee 21 Report of the Nominations Committee 22 Report of the Related Party Transactions Review Committee 23 Financial Reports Annual Report of the Board of Directors of the Company 27 Report of the Audit Committee 30 Statement of Directors’ Responsibilities 32 Independent Auditors’ Report 33 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 Supplementary Five Year Review - Group 126 Group Directory 127 Information of Shareholders 131 Notice of Meeting 135 Form of Proxy 139 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.
    [Show full text]
  • 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.
    [Show 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+
    [Show full text]
  • Abans PLC / Annual Report 2017/18
    ABANS PLC / ANNUAL REPORT 2017/18 THE PAST, THE PRESENT, THE FUTURE; WE AT ABANS PRESENT THE ANNALS OF A GOLDEN ERA THAT HAS MADE US ONE OF SRI LANKA’s MOST RECOGNISED AND RESPECTED BUSINESS ENTITIES NOW AND IN THE YEARS TO COME. AS WE CELEBRATE 50 YEARS OF INGENUITY, PASSION AND EXCEPTIONAL SERVICE, WE BRING TO MIND THE MILESTONE MOMENTS AND DEDICATION TO CUSTOMER CENTRICITY THAT HAS BROUGHT US TO WHERE WE ARE TODAY. Abans PLC | Annual Report 2017/18 | 1 Overview Management Discussion and Analysis OVERVIEW ManagEMENT Governance and Compliance Financial Reports The Abans Story 4 DISCUSSION AND Supplementary Information Our Journey 6 ANALYSIS Our Presence 7 Colombo City Centre 8 Industry Overview 29 Abans’ Milestones 12 Financial Review 31 Financial Highlights - Group 14 Performance of Subsidiaries 35 Group Structure 16 Product Portfolio Management 37 Branch Network 17 New Products at Abans 42 Message from the Chairperson 18 Awards and Recognition 49 Board of Directors 22 Channel Management Strategy 51 Managing Director’s Review of Performance 25 ICT Integration 55 Customer Engagement 56 COLOMBO Human Resource Management 60 08 CITY CENTRE Corporate Social Responsibility 66 NEW 42 PRODUCTS AT ABANS VISION To attract and retain our customers for life... MISSION Adding value to our most precious asset, our customers, by bestowing a novel range of world-class products and services that reflect comfort, convenience and quality. 2 | Abans PLC | Annual Report 2017/18 GOVERNANCE AND SUPPLEMENTARY COMPLIANCE INFORMATION Risk Management 71 Statement
    [Show full text]