Overseas Reality

We have entered
entere a new phase of growth. We have made

our indelible mark in the evolving skyline of Colombo city
through our land
landmark commercial property, the World
Trade Centre and the u
urban lifestyle complex of Havelock
City. Now, we are exp
expanding our footprint
o
of high rise,
high quality real estate
estat into new tterrain.
errain.
n We h
have
aave
ve ent
entered
a new trajectory of g
growth
gr w
wth aand expansion within proper
property
y
7;;orl;m|-m7|u-7bm]|_-|_-v;m_-m1;7orrou|mb;v
7;;orl;m|-m7|u
-m7|u7|u-7bm]|_-|_-v;m_-m1;7orrou|mb
ou m
mb;v
v
and paved
p ved the
th way for future growth.
Our Vision
ur-vvbombv|o0;|_;lov|v11;vv=-m7bmmo-;
u;-;v|-|;voomvruob7;ubm|_;u;]bom
Our Mission
$o0;-|u"ub-mh-mv;=1om|-bm;77b;uvbC;7
u;-;v|-|;voomvruob7;u7ub;m0-_b]_
lo-|;7ruo=;vvbom-|;-l|o;1;;7|_;
;r;1|-omvo=1v|ol;uv-m7v_-u;_o7;uv
Our Values
Customer Oriented
Quality
Team Work
Honesty
ommov;-umbm]
mmo-om
Accountability
Respect
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INSPIRING
GENERATIONS
Financial
Highlights
2015
2014
Rs. Mn
!vm
Revenue
3,141
6,198
uovvuoC|
1,940
2,408
Fair Value Gain (FVG)
1,175
1,016
uoC|;=ou;$-$
3,073
3,386
uoC|[;u$-$
3,031
3,336
$17bm] (
1,856
2,320
32,274
30,276
2,157
2,840
96
1,082
Stated Capital
11,163
10,186
Reserves
17,442
15,742
uovvuoC|-u]bm
62%
39%
$m17bm] (-u]bm
96%
54%
$17bm] (-u]bm
59%
37%
-umbm]v;u"_-u;m17bm] (
3.44
-umbm]v;u"_-u;17bm] (
2.09
Return on Equity
11%
13%
;0|tb|!-o
0.3%
4%
32.22
For the year ended 31st December

INCOME STATEMENT
STATEMENT OF FINANCIAL POSITION

Total Assets
$o|-b-0bb;v
o-mv-m7ouuobm]v
SHAREHOLDERS' EQUITY
FINANCIAL RATIOS
Net Assets Per Share
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015
Mn
Group Revenue
Group Revenue (Rs Mn)
uo
or
r u
uoC
oC|
| [;u $-
- (Rs Mn)
7,000
3,500
6,000
3,000
5,000
2,500
4,000
2,000
3,000
1,500
2,000
1,000
1,000
500
0
2011
Mn
uoruoC|[;u$-
2012
2013
2014
2015
2011
2012
2013
2014
PAT (Excl FV)
2015
PAT (Incl FV)
Earning Per Share (Rs)
NAVPS and Avg Share Price (Rs)
4.0
35
3.5
30
3.0
Rs
-umbm];u"_-u;
25
2.5
2.0
20
1.5
15
1.0
10
0.5
2011
2012
2013
Mn
$o|-vv;|v
2014
Incl FV
2015
2011
2012
2013
NAVPS
Excl FV
2014
2015
Avg. Share Price
ROE and ROA (%)
Shareholders Equity and Total Assets

(Rs Mn)
15
35,000
30,000
12
25,000
20,000
15,000
10,000
6
5,000
0
3
2
2011
2012
2013
2013
2014
4
ROE
2015
ROA
OA
2011
2012
2013
Shareholders Eq
quit
uity
y
2014
2015
Total
Tot
al Ass
ssets
etss
INSPIRING
GENERATIONS
Since the inception 20 Years ago the

World Trade Center has been the
Best Business Address in Colombo,
with unmatched built quality, facilities,
services and an unique location in the
Central Business District.
Chairmans Review
|]b;vl;]u;-|r;-vu;|oru;v;m||_bvmm-!;rou|
and Statement of Account for the Year Ended 31st
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-l r;-v;7 |o ;1ol; l =;o "_-u;_o7;uv |o |_;
|_mm-;m;u-;;m]o=;uv;-v!;-|;om

-l_-rr|ou;rou||_;mo|;ou|_u;v|vouolr-m
u;1ou7;7 =ou |_; ;-u m7;u u;b; $_; olr-m
bm7bb7-u;1ou7;7b|v_b]_;v|$umo;u-m7_b]_;v|;|
uoC|-[;u$-
Economic Background
$_; om|uv uovv ol;v1 uo71| u;1ou7;7
- ]uo|_ o= bm 1olr-u;7 |o bm
m|;u;v| u-|;v -m7 mY-om u;l-bm;7 bm vbm]; 7b]b|v
-|_o]_|_;"ub-mh-!r;;7;ru;1b-|;70-]-bmv|
|_;&" o-u$_;";ub1;";1|ou_b1_1om|ub0|;v1ov;
|o o= |_; |o|- _-v v_om -m -;u-]; ]uo|_
o=0;|;;m$_;r;u=oul-m1;o=|_;
olr-m b|_bm |_bv l-1uo;1omolb1 ;mbuoml;m| bv
1oll;m7-0;
Financial Performance
$_;olr-m!;;m;o=!vm-v_b]_;u|_-m
-v|;-ub|__b]_;u!;m|-!;;m;=uol|_;)ou7$u-7;
;m|;uomv;t;m||_;olr-mu;1ou7;7b|v_b]_;v|
!;m|-!;;m;o;;u|_;uor!;;m;o=!v
m-vo;u|_-m-v|;-u7;|oo;u!;;m;
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uoC|-[;u$-o=!vm-vo;u|_-m-v|;-u
World Trade Center Colombo (WTC)

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b7bm] l-bm|;m-m1; -m7 ;m;u] l-m-];l;m| u;l-bmv

ruboub| -u;-v bm 1olbm] ;-uv $_; olr-m _-v |-h;m
l;-vu;v |o r]u-7; |_; v|-m70 ro;u 1-r-1b| |o
=-1bb|-|; mbm|;uur|;7 ro;u vrr 7ubm] l-bm ]ub7
ro;u=-bu; u|_;u|_;olr-mbvbm|_;ruo1;vvo=
r]u-7bm]|_;vv|;lvbm|_;0b7bm]-m7blr;l;mm]-
lo7;umb-omruo]u-lb|_bm|_;m;||o;-uv
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bu;1|ouv-m7lro;;v_oouh;7u;;vv|o-1_b;;
ou|-u];|v7ubm]|_;;-uu"_-u;_o7;uv-u;ou
v|u;m]|_-m7o7bh;|o|_-mhou-;7"_-u;_o7;uv
=ou|_;bu1omC7;m1;-m71omm;7vrrou|bm|_;v11;vv
o=ouolr-m
ubm]|_;;-u|_;u;l-bmbm]u;;m;u;1o]mb;7
from the Sale of Apartments of Phase 2 amounted to Rs
m -uh;m] o= _-v; _b1_ -v r| om _o7
7ubm]-vu;-m1_;7bm-u1_
m ou7;u |o ;r;7b|; |_; 1omv|u1om o= |_; u;l-bmbm]
!;vb7;m- v|-];v _-v; -m7 _-v; o7 0;
7;;or;7 vbl|-m;ov _-v; 1omv|u1om bv
r-mm;7|o1oll;m1;bm-
oll;u1b- ;;orl;m|
$_; oll;u1b- ;;orl;m| bv 0;bm] u;7;vb]m;7
1olrubvbm] - "_orrbm] - -m7 om; L1;$o;u om -
-m7;|;m|o=-1u;v$_;vbm];oL1;|o;ub0;|_;
7olbm-m|=;-|u;o=|_;v1_;l;-m7bruob7;-m1omb1
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$_;"_orrbm]l-b_-;-=vbomo=u;|-b -m7
;m|;u|-bml;m| -m7 b 1-|;u |o |_; ;r;1|;7 ]uo|_ bm
ool0ov u;|-b l-uh;| b|_ ubvbm] 7bvrov-0; bm1ol;v
-m7|oubv|;r;m7b|u;
The Future
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7;vm-omv b|_ u;|-b |oubvl ruor;u| -m7 v;ub1;
v;1|ouv;r;1|;7|o]uoo;u|_;m;|=;;-uv
+ou olr-m bv ; r-1;7 |o 0; - 7bu;1| 0;m;C1b-u
o= |_; ;r;1|;7 rob1- v|-0bb| ;1omolb1 ]uo|_ -m7
0vbm;vv 1omC7;m1; bm |_; om|u )_bv| ; _-;
u;1ou7;7 v|;-7 ]uo|_ r |o |_; olr-m b
;m7;-ou |o ;rou; ruor;u| u;-|;7 orrou|mb;v |o
l-blb;v_-u;_o7;uv-;
S.P. Tao
Chairman
25th February 2016
INSPIRING
GENERATIONS
3UROHVRIDirectors
Mr. Shing Pee Tao

u"_bm];;$-obv|_; om7;uo=|_;"_bm]-muor
m-|u-b;71b;mo="bm]-rou;o=_bm;v;oub]bmu
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bv b7; u;]-u7;7 -v - bvbom-u ;m|u;ru;m;u bm |_;
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_-v 0;;m |_; mom;;1; _-bul-m o= |_; olr-m
vbm1;|_;"_bm]-muorbm;v|;7bm|_;olr-mbm

u"$-o1oll;m1;7_bv0vbm;vv-vvo1b-omb|_"ub
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|_; ;om oo7 ollbvvbom;uv oL1; m |_; v
_; -vvbv|;7 "ub -mh- |o ;v|-0bv_ |_; ;om -om-
"_brrbm] ourou-om _;m _; vo7 om; v_br om 1u;7b|
|o |_; "_brrbm] ourou-om_b1_-v u;m-l;7 -mh-
!-mb uv-m| |o |_-| -v r-l;m| _; u;1;b;7 -
;tb|v_-u;bmool0o o1h-u7
m u $-o bm -vvbvm] |_; ;rr; uor o=
"bm]-rou; |o m;]o-|; -m7 -1tbu; ool0o o1h-u7
u;bvb|;7 ool0o -m7 |_v u;m;;7 _bv -1t-bm|-m1;v
-m7u;bvb|;7=ub;m7vo=vol;;-uv
u-1|;7 0 |_; bm1;m;v o@;u;7 0 |_; "ub -mh-
o;uml;m| -m7 om |_; u;1oll;m7-om o= _bv o7
=ub;m7 |_; |_;m _-bul-m o= -om- ;;orl;m|
-mh u -h -_-7;- u $-o -1tbu;7 ;uv;-v
Realty (Ceylon) PLC (ORC PLC), a listed Company on the
ool0o"|o1h1_-m];ombm]-mm7;;or;7ro|
o=-m7-|1_;om"t-u;bm|_;ool0o ou|-u;-
u $-o |_;m 7;1b7;7 om - loml;m|- bm;v|l;m| bm
"ub -mh- =ou _bv ;]-1 bm 7;;orbm] |_; )ou7 $u-7;
;m|;u)$$bm$o;uv_b1_-||_;l;-v;-uv
-_;-7 o= -m 1oll;u1b- 7;;orl;m| bm |_; 1om|u
$o ;mvu; |_; _b]_;v| v|-m7-u7v o= t-b| |_-| o7
b|_v|-m7 |_; |;v| o= l; _; -vo bmb|;7 |_; ou7v
;-7bm]1omv|u1om1olr-m$um;u"|;bm;uo=&"|o
1omv|u1||_;$bm$o;uv
r-u|=uol"ub-mh-u$-o_-vu;-;v|-|;bm;v|l;m|v
rubm1br- bm _bm- -m7 "bm]-rou; ;|;;m -m7
_; -v _-bul-m o= "bm]-rou; -m7 blb|;7
vr;-u_;-7bm] b|v ]uo|_ bm|o |_; -u];v| bv|;7 ruor;u|
1olr-m om |_; "bm]-rou; "|o1h 1_-m]; ubm] |_bv
l;_;1om1;r|-b;7-m77;;or;7|_;b1omb1-ubm-
"t-u;1olr;_b1_r-;7|_;-=ou7;;orl;m|bm
7om|om "bm]-rou; u$-o-v -vo - 1o=om7;u o=
$-h-u|--m77;;or;u-m7om;uo=|_;)ou7$u-7;
;m|;u 1olr; bm -h-u|- m7om;vb- -m7 v;u;7 om b|v
o-u7=uol|o
Mr. Hussein Zubire Cassim

rrobm|;7 |o |_; o-u7 -v - mom;;1; bu;1|ou
o= ! bm rub u vv;bm ,0bu; -vvbl
ru;v;m| v;u;v -v |_; ;r| _-bul-m o= |_; o-u7
-m7-;l0;uo=|_;7b|ollb;;-m7!;lm;u-om
ollb;;;bv-mvvo1b-|;;l0;uo=|_;mv||;o=
_-u|;u;7 "_br uoh;uv om7om _-bm] t-bC;7 bm |_;
m|;u-u|v-lbm-omom7ombmu-vvbl_;7
|_;rov|o=";1u;|-u|o|_;bmbv|;uo=$u-7;oll;u1;
$oubvl=uol|o;-v-rrobm|;7;m;u-
-m-];uo=;om"_brrbm]bm;vbm-m7_;7|_bv
rov|m;-v|_;_-bul-mo=,-vvblo
"_brrbm]];m|v =uol |o _; u;o1-|;7 |o
"bm]-rou; uol|o7-|;_;_-v_;7;;1;-m7
mom;;1;7bu;1|ou-|;vbm"bm]-rou;-m7"ub-mh-
u-vvbl-v-vo-l;l0;uo=|_;-m;o=7bvouv
o=|_;&mb|;7-omv+o|_ ;7;u-omo="ub-mh-=uol
-|o;-v|_;Cuv|u;vb7;m|o=|_;"ub
-mh- "bm]-rou; vbm;vv om1b -m -Lb-|; o= |_;
;om_-l0;uo=oll;u1;;_;7|_bvrov|=ou|o
1omv;1;;-uv;-v-vo-l;l0;uo=|_;;1;
ollb;;o=|_;;om_-l0;uo=oll;u1;
Mrs. Mildred Tao Ong (Dr.)

uvb7u;7m]-v-rrobm|;7|o|_;o-u7-v-mom
;;1; bu;1|oubm"_;u;1;b;7_;u"=uol
&mb;uvb| o;]; om7om bm -m7 ! & bm
;7b-|ub1vbm"_;_o;;u]-;rl;7b1-ru-11;
|ofobm|_;"_bm]-muorbm_;u;v_;_-v0;;m
-1; bmo;7 bm - -vr;1|v o= |_; uorv ruor;u|
rouobo ;m1olr-vvbm] |_; u;vb7;m- 1oll;u1b- -m7
u;|-bv;1|ouv|_uo]_b|v1om|uobm]bm|;u;v|bm"bm]-rou;
-m7 blb|;7 m $-h-u|- -m7 m
-m7 ! uv m] r-u1br-|;7 bm |_; 7-m1;7
-m-];l;m| uo]u-l bm -u-u7 vbm;vv "1_oo bm
uvm]1uu;m|o;uv;;v|_;"_bm]-muorvu;-
;v|-|;bm;v|l;m|vbm"bm]-rou;-m7-0uo-7
Mr. Yap Boh Pin

u+-ro_bm-v-rrobm|;7-v-mom;;1; bu;1|ou
o=|_;olr-momrub-m7-v-l;l0;uo=|_;
;1; ollb;; o= |_; o-u7 m |_ -m-u
u +-r v;u;v -v - l;l0;u o= |_; olr-mv
7b|ollb;;=uolo;l0;u
u +-r t-bC;7 -v - 1_-u|;u;7 -11om|-m| =uol |_;
mv||;o=_-u|;u;711om|-m|vbmm]-m7-m7)-;v
bm;bv-=;ol;l0;uo=0o|_|_;mv||;o=
_-u|;u;711om|-m|vo="bm]-rou;-m7|_;mv||;o=
_-u|;u;711om|-m|vbmm]-m7-m7)-;v
; bv 1uu;m| |_; -m-]bm] bu;1|ou o= + ub-|;

blb|;7-Culo=l-m-];l;m|1omv|-m|v_b1_ruob7;v
Cm-m1b-r-mmbm]Cm-m1b--11omm]u;b;bm]bm|;um-
1om|uo vv|;lv -v; -v 1ourou-|; v;1u;|-ub- v;ub1;v
bm"bm]-rou;
;|;;m -m7 -m-u u +-r -v -
v;mbou r-u|m;u -| +-r o_ bm o _b1_ ruob7;7
-7b1; om -7bm] |--om btb7-om -m7 1ourou-|;
u;v|u1|ubm] l-;uv ; bv -m bm7;r;m7;m| bu;1|ou o=
$;;_ob1;m|;um-om-blb|;7-r0b1bv|;71olr-m
vb-o0b;o7bm]v|;|7-m7"$$ollmb1-omv
;bfbm]o|70o|_-u;rub-|;v0vb7b-ub;vo="bm]-rou;
$;1_moo]b;v $;;l;7b- |; |7 _b1_ bv r-u| o= |_;
"bm]-rou; $;1_moo] uor ; bv -vo |_; _-bul-m
o=|_;7b|ollb;;-m7l;l0;uo=|_;olbm-m]
ollb;; =ou $;;_ob1; m|;um-om- blb|;7 ; bv
also an independent Director of public listed company,
;u;mo bo_;l |7 v;ubm] -v _-bul-m o= b|v 7b|
ollb;;-m7l;l0;uo=b|volbm-m]ollb;;
He has also held directorships in various public companies
0;|;;m -m7 bm17bm] "bm]-rou; -m7
blb|;7 m;v|l;m|v blb|;7 -m7 -m -1bC1
olr-m blb|;7 -m7 - l;l0;u o= |_;bu ;;1;
1ollb;;v -m7ou -7b| 1ollb;;v -vvbvm] bm |_;
;--om -m7 u;1oll;m7-om o= 1_-m];v |o |_;bu
vv|;lo=bm|;um-1om|uov-m71ourou-|;]o;um-m1;
;om7|_;1ourou-|;v;1|ouu+-rbv-1;bmo;7
bm -ubov momruoC| ;71-om- -m7 vo1b- ;=-u;
ou]-mb-omv ; bv -m omou-u om1b ;l0;u o=
|_; "bm]-rou; ohhb;m- -m -m7 - l;l0;u o= |_;
7b|ollb;;o=|_;_bm;v; ;;orl;m|vvbv|-m1;
om1b ; bv -vo - bu;1|ou o=m]o_bm;v; "1_oo
m|;um-om--m71_-bul-mo=b|vCm-m1;"0ollb;;
10
INSPIRING
GENERATIONS
3UROHVRIDirectors
Mrs. Rohini Lettitia Nanayakkara
uv !o_bmb -m--hh-u- -v -rrobm|;7 |o |_; o-u7
of Directors of the Company as an independent non;;1; bu;1|ou bm "_; _o7v - v;1om7 -vv
omouv ;]u;; =uol |_; &mb;uvb| o= ;u-7;mb-
"ub -mh- "_; -vo _o7v - brol- bm u;m1_ =uol |_;
_-l0;uo=oll;u1;uvv;v"_;bv- ;oo=|_;
mv||; o= -m-];l;m| |_; mv||; o= -mh;uv "ub
-mh-"_;_-v-vo0;;m|_;u;vb7;m|o=|_;"ub-mh-
-mhv vvo1b-om -m7 |_; vvo1b-om o= uo=;vvbom-
-mh;uv-l;l0;uo=|_;ollbvvbomo=|_;&mb;uvb|
of Colombo, Sri Lanka and of the Task Force setup by the
o;uml;m|=ou$vm-lbu;1omv|u1om
"_;-v|_;Cuv|ol-m;;1;|ofobm-1oll;u1b-
0-mhm-l;-mho=;om;;m|-;-umbm]|_;u-u;
7bvm1omo=0;1olbm]|_;Cuv|ol-m;m;u--m-];u
o=|_;-mh-Cuv|=ou-m0-mhbm"ub-mh--m7|_;
vb-m!;]bom
"_; -v -vo _-bul-m bu;1|ou o= v;;u- Cm-m1b-
bmv|omv v1_ -v |_; -om- ;;orl;m| -mh
-mh ;u1_-m| -mh o= "ub -mh- -m7 |_; buv|
-rb|-uoro=olr-mb;v"_;_-vv;u;7-v bu;1|ou
;m;u--m-];uo=om;o=|_;-u];v|rub-|;0-mhv
m-l;";-m-mh
"_;-v|_;_-bur;uvomo=|_;uoro=olr-mb;v
-m7 |_; uomv uor o= olr-mb;v "_; bv ru;v;m|
|_; _-bur;uvom o= "0vb7b-ub;v o= uomv uor o=
olr-mb;v"_;bv-vo- bu;1|ouo=-v|;um;u1_-m|v
-m7-|uv|;;o=|_;-om-$uv|o="ub-mh-
Mr. Ajit Mahendra De Silva Jayaratne

ufb| ;"--u-|m;-vu;-rrobm|;7|o|_;o-u7
o= ! bm -v -m bm7;r;m7;m| mom;;1;
bu;1|ouu--u-|m;bv-vo|_;_-bul-mo=|_;7b|
ollb;;o=|_;olr-m
u --u-|m; ]u-7-|;7 =uol |_; &mb;uvb| o=
"o|_-lr|om & b|_ - "1 7;]u;; bm 1omolb1v
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Commission and Chairman of the Ceylon Chamber of
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Mr. En Ping Ong

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Mr. Leslie Ralph de Lanerolle

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he has served as Consultant to several private companies,
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11
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ol;v | |7 ; _-v -vo v;u;7 -m7 1omm;v |o
v;u; om |_; o-u7 o= bu;1|ouv o= v;;u- rub-|; -m7
r0b1bv|;71olr-mb;v
Mr. Tissa Kumara Bandaranayake

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-u|m;u bm -[;u ;-uv o= ";ub1; ; bv - -v|
Chairman of the Audit Faculty and the current Chairman of
|_; -b|vvu-m1;o-u7;v|-0bv_;70|_;mv||;
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uomolr-m;-vov;u;v-v-omv|-m||o
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Dr. Ranee Jayamaha

omv&mb;uvb|o=;om;u-7;mb-"ub-mh-
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Directors of the Company as an Independent Non;1; bu;1|ouom|_-u1_
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the University of Colombo and the Lead Consultant for
"o|_vb-!;]bom=ou|_;)ou7-mhuor"_;-v|_;
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_;uu;u;l;m|-|;m7o=-"_;_-vo;u;-uv
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--l-_- _-v 0;;m - ;l0;u o= |_; )ouhbm] uor
om ;m;u- -l;m| "v|;l ;;orl;m| o= |_; -mh
=ou m|;um-om- ";;l;m|v ;l0;u o= |_; o0-
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ml0;uo=m|;um-ombm-m1b-mv|omv-m7;m|u-
-mhvbm|_;!;]bom
Mr. Pravir Samarasinghe

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With over 750,000 Sq.ft of Prime

RIFH &RPPHUFLDOVSDFHORFDWHG
in the heart of the central business
district, surrounded by Banks, Hotels
and Government Institutions with
panoramic views of the city, Sea and
Colombo Harbour, the World Trade
Center Colombo is the best business
address in Sri Lanka.
MANAGEMENT
DISCUSSION AND
ANALYSIS
14
INSPIRING
GENERATIONS
Management Review
Property Leasing
Revenue
uoC|;=ou;$-
Rs. 1,962 Mn 2015
Rs. 2,890 Mn 2015

80%
Rs. 1,764 Mn 2014
Rs. 2,480 Mn 2014
vv;|v
b-0bb;v
Rs. 28,798 Mn 2015
Rs. 1,359 Mn 2015
Rs. 26,231 Mn 2014
Rs. 1,339 Mn 2014
Despite being in
or;u-om=ouo;u
20 years, the WTC
Colombo is unmatched
as a commercial
0b7bm]bm|;ulvo=
0b|t-b|=-1bb;v
-m7v;ub1;--b-0;
15
World Trade Center Colombo

The World Trade Center (WTC) Colombo monumental
_b]_ ubv; bv m-om- u;1o]mb;7 -v |_; 0;v| 0vbm;vv
-77u;vv bm "ub -mh- ;vrb|; 0;bm] bm or;u-om =ou
over 20 years, the WTC Colombo is unmatched as a
1oll;u1b-0b7bm]bm|;ulvo=0b|t-b|=-1bb;v-m7
v;ub1;--b-0;
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mbm$_bv-v1om1;b-0;b|__b]_;u!;m|-!-|;v
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bm1olr-u;7b|_ru;bov;-u u|_;u|_;
r;u-m] uoC| -u]bm ;17bm] =-bu -; ]-bm -vo
bm1u;-v;7=uol|o
$o ;m-0; vv|-bm-0; ]uo|_ bm u;;m; -m7 ruoC|v
)$ool0obv|ub;|ou;|-bm_b]_11r-m1-m7
!;m|- !-|;v $_; ru;-bbm] ]o0- -m7 o1- ;1omolb1
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;17bm]-bu1om7bombm])b|_|_bvr]u-7;-0b7bm]
v;ub1;v bm17bm] - ;;-|ouv ;v1--|ouv |;m-m|v -m7
1ollom -u;- b]_m] -m7 ro;u -bu 1bu1-om -m7 b=;
vrrou|vv|;lvb0;==m1om-;;mbm|_;;;m|
o=|o|-=-bu;o=|_;m-om-]ub7
m -77bom - 1olr;|; 0b7bm] u;=u0bv_l;m| -m7
lo7;umb-om ruo]u-l bv bm ruo]u;vv |o rb[ |_;
m7
=m1om-b| o= 0b7bm] v;ub1;v -;v|_;1v -m7
b|ouv
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lou;;L1b;m|
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$_;olr-m-vu;1o]mb;7-v|_;;-7;uo=|_;-m7

-m7uor;u|";1|ou-||_;
-u7v;u;lom
16
INSPIRING
GENERATIONS
Management Review
Property Trading
Revenue
uoC|;=ou;$-
Rs.
Rs. 112 Mn 2015 80%
974 Mn 2015
Rs. 4,329 Mn 2014
Rs. 949 Mn 2014
vv;|v
b-0bb;v
Rs. 4,571 Mn 2015
Rs.
Rs. 5,249 Mn 2014
Rs. 1,480 Mn 2014
791 Mn 2015
$_;-;o1h
City project would
contribute to the
changing real estate
l-uh;|bm"ub-mh-
_bv|1u;-m]-;|o
ouv_-u;_o7;uv
17
Havelock City
-;o1h b| bv -m bm|;]u-|;7 lb;7 v; u;- ;v|-|;
7;;orl;m| ruof;1| 1olrubvbm] !;vb7;m- -m7
oll;u1b- 1olrom;m|v m 1olr;om |_; ruof;1|
o7 1omvbv| o= !;vb7;m- r-u|l;m| $o;uv -
"_orrbm] - -m7 -m L1; $o;u o@;ubm] u-7;
L1;"r-1;-om]b|_-";ub1;7r-u|l;m|
$_; v|-|; o= |_; -u| 0_ov; |_; -u];v| bm "ub -mh-
b|_ u;1u;-om- =-1bb;v bm17bm] - ]lm-vbl
vbllbm]roov-m7-1b=ou|_;u;vb7;m|v-om]b|_
vt-v_1ou|v-m;m|;u|-bml;m|om];-u;v|-u-m|-m7
banquet halls for the use of the residents and the public
-bh;bv=or;u-om-
!;;m; o= !v m -v u;1ou7;7 =uol "-; o=
r-u|l;m|v=uol|_;u;l-bmbm]v|o1ho=_-v;m
Penthouses of Phase 2 are available in inventory as at end
o= )b|_ - 1ollb;7 v-; o= mb|v o| o=
mb|vl-uh;m]o=_-v;-vr|om_o77ubm]
-m7u;-m1_;7bm-u1_
omv|u1om o= |_; u;l-bmbm] _-v;v o= -;o1h
b| u;vb7;m- bv 0;bm] ;r;7b|;7 b|_ vbl|-m;ov
7;;orl;m|o=_-v;omv|u1ombv;r;1|;7|o
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18
INSPIRING
GENERATIONS
Management Review
Property Services
Revenue
uoC|;=ou;$-
Rs. 167 Mn 2015
Rs. 21 Mn 2015
Rs. 74 Mn 2014
Rs. 10 Mn 2014
vv;|v
b-0bb;v
Rs. 58 Mn 2015
Rs. 54 Mn 2015
Rs. 32 Mn 2014
Rs. 20 Mn 2014
$_;1ommov
7;;orl;m|-m7
l-|ub|o=|_;
Commercial and
Condominium property
l-uh;|b1u;-|;-
7;l-m7=ouo|vou1;7
ruo=;vvbom-u;-;v|-|;
v;ub1;ruob7;uv
19
uor;u|";ub1;v-m7$u-7bm]
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b|_ ruor;u| -m7 7;;orl;m| l-m-];l;m| -];m1
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;v|-0bv_l;m|v7ubm]
$_;7;l-m7=ouu;-;v|-|;-vv;|vbm"ub-mh-_-vv_om
vb]mbC1-m|]uo|_bm|_;r-v|=;;-uv$_;1ommov
development and maturity of the Commercial and
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]u-7-]u;om|_;vom7lol;m|l-b77ubm]-v|
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Trading
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;v|-|;-m7bm=u-v|u1|u;v;1|ou
20
INSPIRING
GENERATIONS
Financial Review
The Economy
The Sri Lanka economy in 2015 recorded an Annual Gross

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Sri Lanka
$_;u;;m;=uolu;mm]vr-1;v-|)$]u;0|o
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-lom|;7 |o !v m - 7;1u;-v; o= o;u |_;
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WTC Colombo
150
Rs Per Sq Ft
330
100
310
145
140
290
95
135
270
130
125
250
90
230
120
115
210
85
190
110
105
100
2011
2012
2013
2014
170
80
150
2011
2012
2015
2013
2014
2015
Occupancy %
Rental Rate Index (Rs Per Sq Ft)
m=-om
Exchange Rate
Revenue
r;u-m]r;mv;v
ubm]uor!;;m;o=!vm-v
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bu;h- ol;v | |7 |_uo]_ |_; v-; o=
condominium units at Havelock City (HC) and Realty
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21
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-v|;-uuovvuoC|=uolruor;u|;-vbm]o=|_;)$
ool0o -v !v m -m bm1u;-v; o= o;u
|_;ru;bov;-u7;l-bm|obm1u;-v;o=u;m|-u-|;v
uovv uoC| =uol |_; v-;v o= -r-u|l;m|v -| -;o1h
b|-vm_b1_-v-7;1u;-v;o=o;u|_;
ru;bov ;-u 7; l-bm |o o;u u;;m; u;1o]mb;7
=uol-r-u|l;m|v-;vo=-;o1hb|
r;u-m]uoC|
$_;1olr-mor;u-m]ruoC|17bm]=-bu-;]-bmo=
m-v_b]_;u|_-m-v|;-ur;u-m]ruoC|
l-u]bm 17bm] =-bu-; ]-bm -vo blruo;7 |o
=uol7;l-bm|o_b]_;uu;m|-u-|;v-m7v|ubm];m|
1ov|1om|uol;-vu;v
m _b1_ 1omvbv| o= !v m u;1;b;7 |_uo]_ |_;

!b]_| vv; 7ubm] |_; ;-u _;m1; ;17bm] |_; !b]_|
vv;|_;]uor-v-0;|o]uo|_;1-v_-m7v_ou||;ul
bm;v|l;m|v07ubm]|_;;-u
$_; uorv |o|- 0ouuobm]-v !v m !v
m 7ubm] |_; ;-u |_; 1olr-mv v0vb7b-u
bu;h-ol;v=v;;7|_;o-mo0|-bm;7=ou|_;
!;vb7;m- ;;orl;m|-m7|_;u;l-bmbm]!vm-v
"!$;uuoubvlvo[o-mo0|-bm;7=uol-mho=;om
;|vv;|v
As at 31st December 2015 the Net Asset Value Per Share

-v!v!v_b1_bm1u;-v;70
o;u|_;ru;bov;-u
-umbm]v;u"_-u;
bm-m1;m1ol;-m7 bm-m1;r;mv;v
uor bm-m1; bm1ol; o= !v m v_ov - 7;1u;-v;

o=o;u|_;ru;bov;-uo;;u;17bm]" !"
-7fv|l;m|vb|bv-mbm1u;-v;o=
$_;uor-umbm]v;u"_-u;=ou|_;;-u-v!v
!v_b1_bv-7;1u;-v;o=o;u|_;
-v|;-u
ub1;-umbm]v!-o
$_;1olr-m_-vu;1ou7;7-1ov|o=!vm
m-v=-bu-;-7fv|l;m|om!;m|- ;rovb|v-7_;ubm]
|o" !"u;tbu;l;m|v
uoC|;=ou;$-$
$_; ub1; -umbm]v u-o o= |_; olr-m -v -| v|
;1;l0;u-vl;vl;v
Dividends
uor uoC| ;=ou; $- o= !v m -v o;u

|_-m |_; ru;bov ;-u b|_ o;u !;;m; -m7 uovv
uoC|
bb7;m7v r-b7 |o ou7bm-u v_-u; _o7;uv -v !v

!v$_;7bu;1|ouv_-;ruorov;7-7bb7;m7
o=!v|o|_;ou7bm-uv_-u;_o7;uv=ou|_;;-u;m7;7
v| ;1;l0;u
$--om
"o;m1
$_;bm1ol;|-;r;mv;o=|_;uor-m7|_;olr-m
;u;!vm-m7mu;vr;1;m-77bomvbm1;
|_; uor m;| uoC| bm ;1;;7;7 !v m |_;
1olr-m-m7b|vv0vb7b-ub;vr-b7"r;u-bm$-o=!v
m7ubm]|_;;-u$_bv-v-11om|;7-]-bmv|u;|-bm;7
;-umbm]v bm |_; ;tb| v|-|;l;m| bm -11ou7-m1; b|_
|_; "|-|;l;m| o= |;um-; $u;-|l;m| om -11omm]
=ou "r;u -bm $- bvv;7 0 |_; mv||; o= _-u|;u;7
11om|-m|vo="ub-mh-omo;l0;u
";1omo=|_;olr-mb;v1|moo=u;tbu;v
that a solvency test be carried out prior to the payment
o=7bb7;m7v1;uC1-|;o=-vo;m1=uol|_;7b|ouv
-vo0|-bm;7=ou|_;ruorov;77bb7;m7r-l;m|
-v_-m7ouuobm]v
The Groups cash and short term investment as at 31st

;1;l0;u;u;!vm!v
!;|umomtb|!
$_;uor!;|umomtb|!=ou|_;;-u-v

-m7 |_; 7;1u;-v;-v 7; l-bm |o
o;uv-;vruoC|=uol"-;o=r-u|l;m|v
22
INSPIRING
GENERATIONS
Financial Review
vv;|v
$_;uor|o|-vv;|-v;bm1u;-v;70!vm=uol
!vmbm|o!vmbm-bm
bm1u;-v;bv=uolm;v|l;m|uor;u|_b1_bm1u;-v;70
!vmb|_|_;=-bu--om
b-0bb|
$o|- b-0bb;v -v -| ;1;l0;u o= !v

m-v!vmo;u|_-m|_;-v|;-u7;
l-bm |o v;;l;m| o= o-m o0|-bm;7 =ou -;o1h b|
!;vb7;m- ;;orl;m|
$o|-tb|
$o|- tb| bm1u;-v;7 0 !v m 7; |o |_; !b]_|

vv;v o= m; ou7bm-u v_-u;v ;-1_ bvv;7
-|!vr;uv_-u;-m7!;|-bm;7-umbm]v=ou|_;;-u
;m7;7v| ;1;l0;u
;|m1u;-v;bm-v_-m7-v_tb-;m|v
ubm]|_;;-u|_;uor];m;u-|;7!vm
=uol r;u-m] 1b;v -[;u vbm] !v m =ou
m;vm]-m7 bm-m1bm]1b;v|_;uorv-v_-m7
-v_tb-;m|vbm1u;-v;70!vm
11omm]ob1b;v
The Financial Statements contained in this report are

ru;r-u;7 bm -11ou7-m1; b|_ |_; "ub -mhbm-m1b-
!;roum] "|-m7-u7v " !" |_; u;tbu;l;m|v o= |_;
ool0o"|o1h1_-m];-m7|_;olr-mb;v1|o
o=
We have made our

indelible mark in the
evolving skyline of
Colombo city through our
landmark commercial
property, the World Trade
Centre and the urban
lifestyle complex of
Havelock City.
24
INSPIRING
GENERATIONS
Sustainability Report
uor"v|-bm-0bb|"|u-|;]
-m-];l;m|-rruo-1_7ub;m0bm|;]u-|;7
uobm] - vv|-bm-0; 0vbm;vv bv ou 1ou; v|u-|;] -m7

1ourou-|; u;vromvb0bb| _-v om] 0;;m - r_bovor_
-| ;uv;-v !;-| ;om | _-v 0;;m - - |o
1omm;1| b|_ |_; vo1b;;v bm _b1_ ; or;u-|; - -
|orovb;1om|ub0|;|o|_;]o0-C]_|-]-bmv|]o0-
-ulbm]-m7lov|blrou|-m|--|o;mub1_|_;b;v
o= ou v|-h;_o7;uv u ;@ou|v |o-u7v |_-| ;m7 _-;
rubl-ub 0;;m lo-|;7 0 ou m;;7 |o 0;1ol; lou;
vv|-bm-0;bm--vr;1|vo=|_;0vbm;vv
vv|-bm-0bb|rob1
$_;uor1omm;v|ov|u-|;]b1-bm|;]u-|;vv|-bm-0;
ru-11;v-1uovv;;u-vr;1|o=b|vor;u-om$_;uor
-7or|v 0;v| ru-11;v bm ;1omolb1 ;mbuoml;m|- -m7
vo1b-]o;um-m1;bmou7;u|o]b;-0;;ub=;|o-|_;
v|-h;_o7;uv-m7vo1b;|
$_;-m-];l;m|rruo-1_|bm;7
ou;u;!bvh-m7
o;um-m1;
-m-];l;m|rruo-1_
ourou-|;]o;um-m1;v|u1|u;rob1b;v-m7rubm1br;v
!bvh-m-];l;m| u-l;ouh-ov|_;o-u7o= bu;1|ouv|_;ollb;;o=-m-];l;m|
|_;7b|ollb;;-m7|_;";mbou-m-];l;m|o=|_;uor|or--mbm|;]u-uo;bm|_;
ruo1;vvo=ubvhl-m-];l;m|
-uh;|u;v;m1;
and Economic
(-;1u;-om
r;u-|;vbm=ouh;or;u-om--u;-vuor;u|;-vbm]uor;u|$u-7bm]uor;u|
-m-];l;m|-m7$u-7bm]
mbuoml;m|-
& Social
Sustainability
mbuoml;m|--m7vo1b-vv|-bm-0bb|rob1b;v]o;um|_;vv|-bm-0bb|;@ou|v-m7r-u-l;|;uv
o=;-1_o=|_;olr-mvor;u-om-7;r-u|l;m|v
Employee
;;orl;m|
Equal
Opportunity &
m1ouurom
7or|v-_l-m7;;orl;m|-rruo-1_|_-|_-vb;7;7rovb;u;v|v;vr;1b-bm|;ulvo=
1-u;;u7;;orl;m|-m7bm11-omo=1ourou-|;-;v-m7om;uv_br|_-|;|;m7v0;om7|_;
1om;mom--rruo-1_
omb|ouv7b@;u;m|h;-u;-vv1_-v;m;u]-|;uv-];u;11bm]-|;u-v|;-|;uvob7
-v|;t-b|o=-bu-buroomvom7room|u-mvrou|-m7;1ovv|;ll-m-];l;m|vo1b-
-m71|u-7;;orl;m|bmobm]bm|;um--m7;|;um-v|-h;_o7;uv
7or|v-rob1o=bmmo-;|u-bmbm]-m71ommov;-umbm]|_-|o;u1ol;v|_;1v|ol-u
0-uub;uv|o;@;1;;-umbm]
;m7;u;t-b|-m7;t-orrou|mb|]o;um;70l-m!;vou1;rob1
m1ouurom|u-bmbm];|;m7;7|o-;lro;;vb|__om;v|0;bm]-h;1ourou-|;-;
Sustainable
Purchase and
Produce
"v|-bm-0;vrrb;urob17b1|-|;v|_-|vrrb;uv0;;--|;7-m7ru;=;u;m1;]b;m0-v;7om
|_;buom1ollb|l;m|v|ovv|-bm-0;ru-11;
hru1_-vbm]bv]b;mruboub|-m7vrrb;vbmu;|um-0;1om|-bm;uv-u;;m1ou-];7
25
Water Management
!;1o]mbbm]|_;]o0--|;u1_-;m];;uv;-v!;-|
;ombvouhbm]bm|;um-|o1ommovblruo;
ou or;u-omv bm ou7;u |o lbmblb; -|;u 1omvlrom
_b; u;71bm] -|;u -v|; bm 7- |o 7- or;u-omv
u|_;u ; _-; blr;l;m|;7 - u-bm -|;u _-u;vm]
vv|;l |o _-u;v| u-bm -|;u _b1_ ;m-0;v v |o v;
u-bm-|;u=ou]-u7;mbm]-m7Cu;ruo|;1om-1b;vm
ou-;o1hb|uof;1|;v;bm|;um-;-|;u|o
l-bm|-bm-u];;|;m|vo=]-u7;m
Biodiversity
-;o1hb|uof;1|_-v0;;m7;vb]m;7b|_-vb-1u;
-m7v1-r;7 uoo= ]-u7;m _b1_ ;mvu;v |_; ruo|;1om
o= 0bo7b;uvb| |_uo]_ |_; You- -m7 =-m- b|_bm |_;
ruof;1|
$_; olr-m bv 1ommov =o1v;7 |o lbmblb; |_;

;m;u] 1omvlrom |_uo]_ blr;l;m|-om o= -ubov
;m;u] 1omv;u-om l;|_o7v u -rruo-1_ bv o]b1-
_b1_1om|-bmv|_u;;l-bmv|;rv
,;uo1ov|blr;l;m|-om
L1b;m|u;|uoC|v
!;r-1;l;m| b|_ v|-|; o= |_; -u| ;m;u] ;L1b;m|
;tbrl;m|
$_; u;71om o= ;m;u] 1omvlrom b|_o| bm1uubm]
;r;m7b|u; bv ;uo 1ov| blr;l;m|-om _;u; |_;
1olr-m ;lro;;v blruo; |_; ;bvm] r-m| -m7 |_;
ruo1;vv;v bm ou7;u |o ;m_-m1; |_; ;m;u] ;L1b;m1
b; u;v1_;7bm] o= or;u-om- l; o= 1;m|u- r-m|
;tbrl;m| orlb-om o= 1ollom -u;- &
or;u-omv;|1
lruo;l;m|v _b1_ -u; 7om; -| - 1ov| bm ou7;u |o
;m_-m1;|_;;L1b;m1o=|_;r-m|-m7|_;ruo1;vv;v-u;
b7;mC;7-v;L1b;m|u;|uoC|b;;;1|uomb10--v|v=ou1-u
r-uh1ollom-u;-b]_m]C;71-r-1b|oubmv|--om|o
&lo|ouvbmv|--omo=(-ub-0;"r;;7 ub;v("
=ou_b]_om;1_b;7-|;urlrv;|1
77bom-;u;r-1;7_b]_;m;u]1omvlbm]1_b;uv
1_b;7-|;urlrv-m71om7;mv;u-|;urlrvb|_|_;
o0f;1;o=u;71bm];m;u]1omvlrom
Energy Management
Energy Management Policy
$_;o0f;1;o=|_bvrob1bv|oblruo;;m;u];L1b;m1
orlb; ;m;u] 1omvlrom u;71; or;u-om-
1ov| l-blb; u;|um om 1-rb|- bm;v|l;m| u;71;
;mbuoml;m|-m7]u;;m_ov;]-v;lbvvbomv-m71omv;u;
m-|u-u;vou1;v
$_;-0o;ru-11;vu;v|;7bm|_;)$0;bm]-|u;_b]_
r;u=oul-m1;u;;mb7bm]b|_-o7;uC1-omo=
u;;m u-m] vv|;l =uol u;;m b7bm] 1om1b o= "ub
-mh- -m7 0;bm] --u7;7 |_; ru;v]bov o7 -l;
-u7m7;u-u];v1-;v;1|ou1oll;u1b-0b7bm]-|"ub
-mh--om-m;u]--u7vou]-mb;70|_;"ub
-mh-"v|-bm-0;;m;u]-|_oub|
26
INSPIRING
GENERATIONS
Sustainability Report
Achievements
Community
$_;olr-m-v--u7;7|_;;-7;uo=|_;-m7-m7
uor;u| ";1|ou -| |_;
-u7v;u;lom
$_;olr-m-v--u7;7|_;-m7uor;u|";1|ou
uom; -u7 -| |_; "ub -mh- v| mm- !;rou|
-u7v;u;lom
$_;1olr-mr-1;v_b]_;lr_-vbvom1om|ub0m]|o|_;
1ollmb;v;or;u-|;mou7;u|o=C|_bvu;tbu;l;m|
|_;1olr-m_-vm7;u|-h;m-v;ub;vo=bmb-;v-bl;7
-| blruobm] |_; bbm] ;mbuoml;m| o= |_; 1ollmb;v
-uom7 b|v ru;lbv;v $_; ]uor 7;;or;7 -m7 ]u-m|;7
|_;"-l-(b_-u-|;lr;|o|_;77_bv|7;o|;;v_b1_
bvo1-|;7b|_bm|_;-;o1hb|
$_;";mbou-m-];u -1bb|-m-];l;m|o=|_;olr-m
-v --u7;7b|_ |_; 7;vb]m-om o= u;;m11u;7b|;7
uo=;vvbom-0|_;u;;mb7bm]om1bo="ub-mh-
);1om71|-mm-=ou;-1-om-m7Cu;7ubv-||_;
)$ 0b7bm] bm ou7;u |o v-=;]-u7 |_; |;m-m| bvb|ouv
v|-@-m7|_;m;b]_0oubm]0b7bm]v-m7ruor;u;v
Brands
u;or;
); m7;uv|-m7 |_-| 1v|ol;uv -u; v;;hbm] lou; |_-m

fv| - |u-mv-1om ;r;ub;m1; |_; -u; oohbm] =ou |_;
-b7-omo=u-m7uolbv;v-m70u-m7|_-|u;Y;1||_;bu
om r;uvom- -; vv|;lv $_bv bv |_; =m7-l;m|-
u;-vom=ououo@;uo=|ov|uom]0u-m7v"|ubm];m|0u-m7
]b7;bm;v-m7v|-m7-u7v-u;=oo;7bm-;|;um--m7
bm|;um- 1ollmb1-omv l-bm|-bmbm] 1omvbv|;m1 bm
7;b;uo=0u-m7ruolbv;
ul-m!;vou1;v ;r-u|l;m|bv7m-lb1bmu;1ubm]
-m7 l-bm|-bmbm] - ; |-;m|;7 ouh =ou1; ruob7bm] -
v-=; -m7 r;-v-m| ouh ;mbuoml;m| bv ;vv;m- =ou -
_;-|_-m7ruo71;ouh=ou1;
)ou7$u-7;;m|;u)$bv-mbm|;um-om-u;1o]mb;7
u;r|;70u-m7_b1__-v0;;mv;70)$0b7bm]
o1-|;7bmo;u1om|ub;vou7b7;)$ool0obv
vmomlovb|_t-b|=-1bb;v-m7v;ub1;vuo|_;u
brand is Havelock City also very unique in Sri Lanka,
ruolbvbm]-1b|b|_bm-1b|b|_b|vlb;7v;bm|;]u-|;7
ruor;u|7;;orl;m|
27
ommov|u-bmbm]7;;orl;m|-m71-u;;uruo]u;vvbom
orrou|mb;v-u;ruob7;7|o-1-|;]oub;vo=;lro;;v
v|u1|u;7r;u=oul-m1;l-m-];l;m|vv|;lbv-7or|;7
b|__-=;-uu;b;v_b1_ruob7;v-mo0f;1;0-v;7
-rru-bv-vv|;l-m7u;-u7-m7u;1o]mbomruo1;vv
$_; 1olr-m ruob7;v l;7b1- -m7 vu]b1- bmvu-m1;
policy to cover in house medical treatments to employees
-m7|_;bu=-lb u|_;u;lro;;v-u;ruob7;7r;uvom-
accident cover in order to claim the accidental permanent
-m7 r-u- 7bv-0bb| 1o;ubm] _ouv o= |_; 7- m
-77bom ;lro;;v om 7| -u; 1o;u;7 0 -ouhl-m
1olr;mv-omrob1
u]ub;-m1;ru-11;v-u;-bl;7-|-obm];lro;;v
|o 0ubm] |o |_; -;mom o= |_; -m-];l;m| -m
7bvv-v=-1om ou bmfv1; _b1_ l- ;bv| -| |_; ouh
r-1;|bv-=oul-ruo1;vvo@;ubm];lro;;vo=7b@;u;m|
;;v|ovo;]ub;-m1;bvv;v-m7-b7bm]|ol-bm|-bm-
=-bu-m71ou7b-ouhbm];mbuoml;m|
om7bv1ublbm-om1_b7-0ou-m71olrvou
labor
); 1omvb7;u r_o7bm] ]oo7 v|-m7-u7v o= _l-m ub]_|v
bm ou ouh r-1; -m7 bm - ou 7;-bm]v -m7 _;m1;
7bv1ublbm-om 1_b7 -0ou -m7 1olrvou -0ou -u;
-ob7;7
);0;b;;bm|_;=-bu|u;-|l;m|o=;lro;;vu;]-u7;vv
o=|_;bu-];u-1;];m7;urovbomou-mo|_;u7b;uvb|
=-1|ou11ou7bm]oul-m-];l;m|-m7;lro;;v-u;
;r;1|;7|o-7_;u;|o-v|ub1|1o7;o=;|_b1vbmu;-om|o
=-oubvl-m7-=oulvo=7bv1ublbm-om
Our stance on labor is to employ individuals over 18 years
o=-];-||_;buom=u;;b$_vmo=ou1;7ou1olrvou
-0ou bv ;m|;u|-bm;7 -| ou ouh r-1; u;1ub|l;m|v
are handled centrally at the Human Resources Division
;mvubm]0;v|ru-11;v
!;vb]m-om$;ulbm-om-m7$u-mv=;uv
m r_o7bm] |_; v-=;| o= ou ;lro;;v ;@ou|v _-;
0;;ml-7;|o-uu-m];|_;ouhr-1;bm-v-=;l-mm;u
11ou7bm] v|;rv _-; 0;;m |-h;m |o blruo; |_;
1;-mbm;vvo=|_;ouhr-1;vou;o;uvb]mrov|v-u;
7bvr-;7-|-m;1;vv-uo1-omv|o]b7;|_;;lro;;v
-m7bvb|ouv|o-u7v7;vbu;77;vm-omv
m |;ulv o= v|-@ ;=-u; |_; h; uo; bv r-;7 0 |_;
"|-@ );=-u; "o1b;| _b1_ ou]-mb;v ml;uov ;;m|v
|_uo]_o| |_; ;-u ; v1_ ;;m|v -u; mm- $ubr
for the employees and their families at a star class hotel,
Sports day, Annual Pirith Ceremony and Annual Get
|o];|_;u
-0ouu-11;v
=-bu-m7vom7]ub;-m1;_-m7bm]rob1-m7ruo1;7u;
bv - ru; u;tbvb|; =ou ]oo7 l-m !;vou1; ru-11;v
-m7 =ou _;-|_ ;lro;; ;lro;u u;-omv $_bv bv
blr;l;m|;7 |_uo]_ |_; fobm| 1omv|-; 1ollb;;
_-bm];lro;;u;ru;v;m|-;v
u rob1 -m7 ruo1;7u; om 1;vv-om o= v;ub1;v bv

1;-u-b7o|bmou!-m-lro;;vl-u;vb]m
=uol |_; 1olr-m v0f;1| |o |_; |;ulv -m7 1om7bomv
v;| bm |_;bu -rrobm|l;m| ;;uv _b; u;u;l;m| -]; o=
;lro;;vo70;-||_;-];o=
The company may terminate the services of an employee
7;|ou;-vomvvr;1bC;7bm|_;l-m-0|v_o7v1_
- vb|-om o11u - =-bu -m7 ;tb|-0; ruo1;7u; b 0;
=oo;7
olrb-m1;b|_--m7-m1ouurom
); l-bm|-bm l-bll -7_;u;m1; |o - -v -rrb1-0;
b|_bm|_;fubv7b1omo="ub-mh-uv;mboul-m-];l;m|
-om] b|_ |_; l-m !;vou1;v bbvbom -m7 ;]-
;r-u|l;m|lomb|ouv|ub1|b]b-m1;bm|_bvu;]-u7
28
INSPIRING
GENERATIONS
Risk Management Report
m|;urubv;!bvh-m-];l;m|ruo1;vv
;ub;
!bvh-ubv;vbm-ou0vbm;vv-1b;v!bvhbmou1om|;|
bv |_; 1olrom;m| _b1_ _-v |_; ro|;m- |o m;]-;
-@;1m] - 0vbm;vv ou -m ou]-mb-om |v vb]mbC1-m1;
bv l;-vu;7 bm |;ulv o= |_; ruo0-0bb| o= o11uu;m1;
$_;u;=ou; b| _-v 0;1ol; l-m7-|ou bm ;bv|;m1; o= -m
bm|;]u-|;7 ubvh l-m-];l;m| =u-l; ouh _b1_ ruob7;v
|_;]b7;bm;=oul-m-]bm]ubvhv
uor m|;um- 7b| 1oou7bm-|;v |_; b7;mC1-om -m7

7o1l;m|-omo=1om|uoubvh-u;-v|_uo]_o||_;uor
;m_-m1bm] |_; ubvh l-m-];l;m| vv|;l -m7 lomb|oubm]
b|v ;@;1;m;vv -| u;]-u bm|;u-v m -77bom 7ubm]
|_;;-u;m7|_;|;um-7b|oubvv;v--m-];l;m|
;;u -m7 bm=oulv |_; uor -m-];l;m| ollb;;
-m7 |_; o-u7 o= bu;1|ouv o= |_; o|1ol; o= |_;v;
;--omv$_;v;o|1ol;-u;|-h;mbm|o-11om|bm|_;
1ommbm];m_-m1;l;m|o=ouubvhl-m-];l;m|vv|;l
m7-vo|_;7b|ollb;;1omv|-m|;--|;vubvh
b|vblr-1|-m7l;-vu;v|-h;m|ol-m-];ubvh
!bvh-m-];l;m| u-l;ouh
!bvh1-mmo|0;b;;7bmbvo-om-vb|bvbm|;u1omm;1|;7
-m7 -vo om; -vr;1| lb]_| ]b; ubv; |o -ubov o|_;u
=-1|ouv$_;;uv;-v!;-|uor_-v-v|u1|u;7ubvh
l-m-];l;m|ruo1;vv|o-77u;vv7b@;u;m|ubvh1-|;]oub;v
"|u-|;]b1r;u-om-olrb-m1;-m7 bm-m1b-
$_; o-u7 o= bu;1|ouv u;1o]mb;v |_-| |_; ruor;u
l-m-];l;m| o= ubvh bv - 1ou; ;-7;uv_br =m1om |_-|
lv|0;ru-11;7|_uo]_o||_;u]-mb-om
$_; rubm1br- -bl o= |_; uorv ubvh l-m-];l;m|

]o;um-m1; v|u1|u; -m7 vv|;l o= m|;um- om|uo bv
|o l-m-]; 0vbm;vv -m7 or;u-om- ubvhv b|_ - b;
|o;m_-m1bm]|_;-;o=v_-u;_o7;uvbm;v|l;m|v-m7
v-=;]-u7bm]-vv;|v
We have put in place a number of key policies, processes
and independent controls to provide assurance to the
o-u7om|_;bm|;]ub|o=ouu;roum]-m7;@;1;m;vv
o=ouvv|;lvo=m|;um-om|uo-m7ubvhl-m-];l;m|
$_;=oobm]]ub7vll-ub;v|_;l-bmubvh-u;-v=o1v;70|_;uorb|vu-mhbm]-m7lb]-m]v|u-|;]b;v
!bvh$r;
!-mh
Factor
"|u-|;]b;v1om-m
"|u-|;]b1!bvh
o
!bvhvo=mo|-1_b;bm]v|u-|;]b1]o-v
-m7o0f;1;vo=|_;1olr-m-m7
-ub-omv;|1
olr-mor;u-|;vb|_-1;-uvbm;vv-m
Risks due to inadequate internal

1om|uovruo1;vv;v-m7vv|;lvvo
7;|o;lro;;-0vbm];m|uv|;7
ro;u=ourub-|;]-bmv;-7bm]|o
lbv-rruorub-omo=-vv;|v
$_;o-u7_-v-rruo;7-v|u1|u;7bm|;um-
1om|uo=u-l;ouhb|_7b@;u;m|;;vo=7;;]-|;7
-|_oub-om
u-7!bvh
o
olr-m-voor;u-|;vb|_bm-m-rruo;7mm-
7];|-ub-m1;v-u;u;b;;7r;ubo7b1-0|_;
o-u7o= bu;1|ouv
The company applies an independent internal audit

l;1_-mbvl
olru;_;mvb;rob1l-m-1o;ubm]-l-fou
7;r-u|l;m|vor;u-omv-m7ruo1;vv;v-u;bmr-1;
;]--m7
!;]-|ou
u-l;ouh
;7bl
!bvhv7;|o1_-m];v|o|--m7o|_;u
;]-u;]-omvbm17bm]1_-m];vbm
o;uml;m|rob1b;v
omv|-m|7b-o];-m7o00bm]b|_!;]-|ou
-|_oub;v
om|_v1-mmbm]o=o;uml;m|0bv
$_;1olr-m_-vu;|-bm;7|_;v;ub1;vo=$-
omv|-m|v;]-omv|-m|v-ruo=;vvbom-
olr-m";1u;|-u=ou|_;u;vr;1;u;]-|ou
u;tbu;l;m|v
29
!bvh$r;
!-mh
Factor
"|u-|;]b;v1om-m
olr;om
;7bl
!bvhv-ubvbm]=uolm;oll;u1b--m7
!;vb7;m- ;;orl;m|v
omb|oubm]o=;bvm]-m7m;vrro=oll;u1b-
-m7!;vb7;m- ;;orl;m|v
omv|u1om
ov|v
o
!bvhv=uolbm1u;-v;bm1omv|u1om
material and other costs
b;7rub1;"!"1om|u-1|v-u;;m|;u;7bm|ob|_
1om|u-1|ouv
u-m7
!;r|-om
o
!bvhvu;-m]|oruo71|t-b|l;
delivery and service standards
-bm|-bmbm]_b]_ruo71|-m7v;ub1;t-b|v|-m7-u7v
-m7t-b|-vvu-m1;1om|uovv|;lvbmruof;1|-m7
=-1bb;vl-m-];l;m|
Fire
o
!bvhvo=-Cu;-||_;)ou7$u-7;;m|;u ;ubo7b1u;b;-m7l-bm|;m-m1;o=0b7bm]Cu;
ool0o-m7-;o1hb|!;vb7;m- vv|;lv|u-bmbm]o=v|-@omCu;ruo|;1omruo1;7u;v
o0|-bmbm]v;ub1;vo=-uo=;vvbom-Cu;1omv|-m|-m7
_-bm]-7;t-|;bmvu-m1;1o;u
b7bm]
;-|_-m7
"-=;|
o
!bvho11uubm]=uol|_u;-|v|or;uvom-
v|-@|;m-m|v-m7];m;u-r0b1-|
World Trade Center Colombo and
-;o1hb|!;vb7;m-
-u|;u1olr;|oum-vbvu;rou|v
!;]-uu;b;vo=1v|ol;u1oll;m|v-m7=;;70-1h
$_;1olr-m1olrb;vb|_-m7v|ub-"-=;|
!;tbu;l;m|v
u;;m;l-bm|;m-m1;ruo]u-lvro|-0;-|;ut-b|
|;vm]-m7-but-b||;vm];|1-u;u;]-u1-uub;7o|
"r;1b-b;7;tbrl;m|-m7b=;vrrou|vv|;lv
l-bm|-bm;70t-bC;7ruo=;vvbom-v
$;1_moo]
!bvh
o
!bvhvo11uubm]=uol=-bu;|o-0vou0
$;1_moo]b1--7-m1;l;m|v
$_;1olr-m_-vb|vom;m]bm;;ubm]l-bm|;m-m1;
|;-lv-0u;-v|b|_-|;v||;1_moo]
ommovr7-m]blr;l;m|-omo=m;u]
L1b;m1uof;1|v
ou;b]m
Currency
b]_
!bvhv=uol=ou;b]m1uu;m10ouuobm]
for the Havelock City Project
omv|u1om1om|u-1|v-u;;m|;u;7bm|obm"ub-mh-m
!r;;v!"
"ol;-r-u|l;m|v-;v-u;1om|u-1|;7bm&"
vl-|;7uu;m1Y1|-ombv=-1|ou;7bm|o1ov|o=
7;;orl;m|
1_-m];u-|;lo;l;m|v-u;1omv|-m|lomb|ou;7
m|;u;v|!-|;
;7bl
!bvhvu;-m]|om|;u;v|m1ol;-m7
ov|o=ouuobm]v
omb|oubm]-m7l-m-];l;m|o=1-v_Yov7-b
;]o-m]=-ou-0;u-|;v-m7|;ulvom0ouuobm]v-m7
7;rovb|v
ouuobm]-|C;7u-|;v
u;7b|
Recovery
o
Non recovery of receivables
!;]-u|u-7;7;0|ou0--m1;u;b;-m7=oor
om|u-1|-o0b]-om_b1_-ov|_;1olr-m|o
Adequate refundable deposits are collected from lessees
o=;-v;7ruor;u|
u;r7b-|;-mb|_bv|u;|-bmbm]o=ru1_-v;rub1;
om|u-1|-o0b]-om|ou;;-v;-vv;|vomrom=
r-l;m|bvl-7;=ouu;;-m|uor;u|
30
INSPIRING
GENERATIONS
Corporate Governance Report
ourou-|;o;um-m1;
Corporate Governance at Overseas Realty (Ceylon)
;m1olr-vv;v ruolom] 1ourou-|; blr-u-b|
|u-mvr-u;m1 -m7 -11om|-0bb| bm 7bu;1m] -m7
1om|uobm] |_; 1olr-m v|u1|u;v rubm1br;v -m7
rob1b;v -u; =o1v;7 om ;mvubm] |_-| |_; 1olr-m bv
]o;um;7bm-l-mm;u|_-|v-=;]-u7v|_;0;v|bm|;u;v|o=
all stakeholders and this report aims to provide the details
o=_o|_bvbv7om;bmru-11;
olr-mvub;=-m7ollb|l;m|$o-u7v
ourou-|;o;um-m1;
); Cul 0;b;; |_-| ]oo7 ourou-|; o;um-m1; bv
mo| om |_; =m7-l;m|- bm ;mvubm] |_-| |_; 1olr-m
bv;l-m-];7bm|_;bm|;u;v|o=-b|vv|-h;_o7;uv0|
bv -vo ;vv;m- |o --bm om] |;ul vv|-bm-0; ]uo|_
ourou-|;o;um-m1;bvo=|lov|blrou|-m1;bm7ubbm]
|_;1olr-m|o-u7vb|v_b]_v|-m7-u7vo=l-m-]bm]|_;
1olr-m bm -m ;|_b1- ;L1b;m| -m7 ;@;1; l-mm;u
_bv|=ov|;ubm]-m;m|u;ru;m;ub-1|u;
olrb-m1;b|_ourou-|;o;um-m1;o7;v
;uv;-v !;-| ;om v ru-11;v -u; 1omvbv|;m|
b|_|_;u;tbu;l;m|v]b;mbm|_;1o7;o=0;v|ru-11;
on Corporate Governance issued jointly by CA Sri Lanka
-m7 |_; ";1ub;v -m7 1_-m]; ollbvvbom o= "ub
-mh-"-v;-v!;l0;uo=bvm]!;v
issued on Corporate Governance by the Colombo Stock
1_-m];"$_;rubm1br;vv;|o|bm|_;v;1o7;v_-;
0;;m-7or|;70v|ov_-r;ou1ourou-|;]o;um-m1;
v|-m1;
"|-|;l;m|o=olrb-m1;
;uv;-v!;-|;ombv=1olrb-m|b|_|_;
1o7; o= ;v| u-11; om 1ourou-|; ]o;um-m1; bvv;7
fobm| 0 "ub -mh- -m7 " m -77bom ; _-;
-1_b;;7 |_; v|-|v o= 0;bm] = 1olrb-m| b|_ |_;
-rrb1-0;v;1omo=|_;bvm]u;vbvv;7om1ourou-|;
]o;um-m1;0|_;"
uv|-|vo=1olrb-m1;b|_;-1_v;1omo=|_;1o7;
o=0;v|ru-11;vom1ourou-|;]o;um-m1;bvv;7fobm|
0"ub-mh--m7"-rr;-uvomr-];v|o);
_-;-vobm17;7-|-0;_b1_vll-ub;v|_;v|-|vo=
1olrb-m1;b|_!;o-m7o=|_;bvm]u;v
o=|_;"omr-];v|o
o-u7o= bu;1|ouv
$_;olr-mv1ollb|l;m||or_o7_b]_;v|v|-m7-u7v
o= 1ourou-|; ]o;um-m1; bv 7ub;m 0 |_; o-u7 o=
bu;1|ouv_b1_bv;70|_;_-bul-m-vvl;vo;u-
u;vromvb0bb| =ou |_; ]o;um-m1; o= |_; 1olr-m -1_
bu;1|ou b7;mC;v _blv;=_;uv;= b|_ - 7| |o -1| bm
]oo7=-b|_-m7bm|_;0;v|bm|;u;v|o=|_;olr-m$_;
o-u7 bv u;vromvb0; =ou |_; v_-u;_o7;uv =ou 1u;-m]
-m7 7;b;ubm] vv|-bm-0; v_-u;_o7;u -; |_uo]_
l-m-];l;m|o=0vbm;vv-1b;v
!o;o=o-u7o= bu;1|ouv
$_; =m7-l;m|- uo; o= |_; o-u7 bv |o ruob7;
;m|u;ru;m;ub- -m7 1o_;u;m| ;-7;uv_br b|_bm -
=u-l;ouh o= ru7;m| -m7 ;L1b;m| 1om|uov _b1_
;m-0;v ubvhv |o 0; -vv;vv;7 -m7 l-m-];7 $_; o-u7
_-v |_; Cm- 7;1bvbom l-hbm] -|_oub| -m7 7bu;1|v |_;
l-m-];l;m| |;-l |o r_o7 _b]_;v| ;; o= bm|;]ub|
=m1om bm 1olrb-m1; b|_bm |_; -rrb1-0; u;v -m7
u;]-omv-m77;;]-|;|_;m;1;vv-u-|_oub||o=C
|_;bu fo0 u;vromvb0bb;v -1_ bu;1|ou _-v mu;v|ub1|;7
-11;vv|obm=oul-om-m7v;ub1;vo=";mbou-m-];l;m|
-m7 |_; olr-m ";1u;|-u ubou mo1;v -u; ]b;m
|o |_; bu;1|ouv u;]-u7bm] 0o-u7 l;;m]v $_; o-u7
r-r;uv-u;1bu1-|;7;bm-7-m1;vo|_-|-7bu;1|ouv
1o7 -1; 7;b0;u-|; -m7 1om|ub0|; |o |_; o-u7
ruo1;;7bm]v
o-u7olrovbom
$_; o-u7 rou|u-v - 0--m1; 0;|;;m ;1; -m7
om;;1; bu;1|ouv ;-1_ o= _ol 0ubm] - v|uom]
-m7 bm7;r|_ lb o= hmo;7]; 0vbm;vv vhbv -m7
;r;ub;m1; |o |_; o-u7v 7;b0;u-om |_; ;m7 o=
|_;;-u|_;u;;u;;;;m7bu;1|ouvbm|_;o-u7|o=
31
|_;l|;m7bu;1|ouv-u;mom;;1;-m7C;o=|_;l-u;
1omvb7;u;7-vbm7;r;m7;m|
;-v;u;=;ur-];v|o=ouruoC;o=|_;l;l0;uvo=
|_;o-u7o= bu;1|ouv
;m7-m1;o=|_;o-u7;;m]
$_; ml0;u o= l;;m]v o= |_; o-u7 -m7 bm7bb7-
-;m7-m1;0l;l0;uv-u;-v=oov
Name
bu;1|ouv_br
"|-|v
u"$-o
om;1;
uvb7u;7$-om]
om;1;
u+-ro_bm
om;1;
umbm]m]
om;1;
u,-vvbl
Independent
om;1;
u ;"--u-|m;
Independent
om;1;
u!7;-m;uo;
om;1;
uv!-m--hh-u-
Independent
om;1;
u$-m7-u-m--h;
Independent
om;1;
Dr Ranee Jayamaha
Independent
om;1;
uu-bu"-l-u-vbm]_; ;1;
Director
;;m]v
;m7;7
;;m]v
b]b0;|o
;m7
!;;;1om
11ou7bm]|o|_;ruobvbomvo=|_;u1;vo=vvo1b-om
o= |_; olr-m $_; o-u7 rovv;vv;v |_; ro;u |o
-rrobm|-mr;uvom-|-ml;-v- bu;1|ou;b|_;u|oC
-1-v--1-m1ou-v-m-77bom-l;l0;uo=|_;o-u7
m7bu;1|ouvo-rrobm|;7v_-_o7oL1;m|_;m;|
mm-;m;u-;;m]_;u;_;v_;bv|_;m;b]b0;=ou
u;;;1om
$_;u;;;1omo=- bu;1|ouv-=;]-u7v|_;ub]_|o=|_;
v_-u;_o7;uv 0 ruob7bm] - u;]-u u;-vv;vvl;m| o= |_;
1olrovbom o= |_; 0o-u7 $_; m-l;v o= |_; bu;1|ouv
v0lb;7=ouu;;;1om-u;ruob7;7|o|_;v_-u;_o7;uv
-om]b|_mo1;o=|_;mm-;m;u-;;m];m-0bm]
|_;l|ol-h;bm=oul;77;1bvbomvomv1_-rrobm|l;m|v
bu;1|ouv!;lm;u-om
;-v; u;=;u |o r-];v -m7 m7;u ";1om =ou
bm=oul-om u;-om |o |_; u;lm;u-om ruo1;7u; -m7
r-];=ou|_;7;|-bvom bu;1|ouvu;lm;u-om
32
INSPIRING
GENERATIONS

$_;7bv1ovu;v0;o7;lomv|u-|;|_;olr-mv-7_;u;m1;|oourou-|;o;um-m1;!;v-vv;|o|m7;u";1om
-m7|_;7bv1ovu;bm|_;mm-!;rou|m7;u";1omo=|_;bvm]!;vo=|_;ool0o"|o1h1_-m];
!;
No.
ourou-|;o;um-m1;!;
olrb-m1;
"|-|v
;|-bv
olrb;7b|_
As at the conclusion of the

bll;7b-|;ru;1;7bm]
all ten (10) Directors on the
o-u7=m1om;7bm|_;mom
;;1;1-r-1b|
om;1; bu;1|ouv

(a)
$_;o-u7o= bu;1|ouvo=-bv|;7;m|v_-bm17;-|;-v|
- $oom;1; bu;1|ouvou
0 m;|_bu7o=|_;|o|-ml0;uo= bu;1|ouv_b1_;;ubv
_b]_;uv_o70;om;;1; bu;1|ouv
(b)
The total number of Directors is to be calculated based on

olrb;7b|_
|_;ml0;u-v-||_;1om1vbomo=|_;bll;7b-|;ru;1;7bm]
mm-;m;u-;;m]
(c)
m1_-m];o11uubm]|o|_bvu-ov_-0;u;1C;7b|_bm
mbm;|7-v=uol|_;7-|;o=1_-m];
The total number of directors

-v;;;m-v-||_;
conclusion of the immediately
ru;1;7bm]
Not Applicable
m7;r;m7;m| bu;1|ouv
(a)
)_;u;|_;1omv|omo=|_;o-u7o= bu;1|ouvbm17;v
om|oom;1; bu;1|ouv0o|_v1_om;1;
bu;1|ouvv_-0;bm7;r;m7;m|m-o|_;ubmv|-m1;v|oou
om;|_bu7o=mom;;1; bu;1|ouv_b1_;;ubv_b]_;u
v_-0;bm7;r;m7;m|
olrb;7b|_
As at the conclusion of the

bll;7b-|;ru;1;7bm]
C;
(5) out of ten (10) Directors
;u;bm7;r;m7;m|
As at 31st December 2015
Five
(5) out of eleven (11) directors
;u;bm7;r;m7;m|
(b)
-1_om;;1; bu;1|ouv_o7v0lb|-vb]m;7-m7
7-|;77;1-u-om-mm-o=_bv_;ubm7;r;m7;m1;mom
bm7;r;m7;m1;bm|_;ru;v1ub0;7=oul-|
olrb;7b|_
om;1; bu;1|ouv

_-;v0lb;7|_;
7;1-u-ombm|_;ru;v1ub0;7
=oul-|
olrb;7b|_
;-v;u;=;umo|;omr-];
o=|_bv!;rou|
bv1ovu;!;-m]|o bu;1|ouv
(a)
$_;o-u7v_--mm-l-h;-7;|;ulbm-om-v|o|_;
bm7;r;m7;m1;ouo|_;ubv;o=|_;om;;1; bu;1|ouv
and names of Independent Directors should be disclosed in
|_;mm-!;rou|
33
!;
No.
ourou-|;o;um-m1;!;
olrb-m1;
"|-|v
;|-bv
(b)
$_;0-vbv=ou|_;o-u7|o7;|;ulbm;- bu;1|oubv
m7;r;m7;m|b=1ub|;ub-vr;1bC;7=oubm7;r;m7;m1;bvmo|l;|
olrb;7b|_
;-v;u;=;umo|;omr-];
o=|_bv!;rou|
(c)
A brief resume of each Director should be included in the

Annual Report and should include the Directors areas of
;r;uv;
olrb;7b|_
;-v;u;=;uuoC;vo=
bu;1|ouvomr-];v|oo=
this Report
(d)
ou|_b|_ruob7;-0ub;=u;vl;o=m; bu;1|ouv-rrobm|;7
|o|_;o-u7b|_7;|-bvvr;1bC;7bm-0-m71|o
|_;u;vo=|_;ool0o"|o1h1_-m];
Not Applicable
!;lm;u-omollb;;
bv|;7;m|v_-_-;-!;lm;u-omollb;;
olrb;7b|_
;-v;u;=;ur-];o=|_bv
!;rou|
$_;!;lm;u-omollb;;"_-1olrubv;o=
olrb;7b|_
$_;ollb;;1omvbv|vo=
b;;l0;uv-o=_ol
-u;om;;1; bu;1|ouv
o|o=_ol-l-foub|-u;
bm7;r;m7;m|
m;om;1; bu;1|ouv_-0;-rrobm|;7-v_-bul-m

o=|_;ollb;;0|_;o-u7o= bu;1|ouv
olrb;7b|_
The Chairman of the

!;lm;u-omollb;;bv-
om;1; bu;1|ou
(b)
$_;!;lm;u-omollb;;v_-u;1oll;m7|_;
u;lm;u-omo=|_;uor_b;=;1;L1;u-m7
;1; bu;1|ouv
olrb;7b|_
;-v;u;=;u!;lm;u-om
ollb;;u;rou|omr-];
o=|_bv!;rou|_b1_v;|
o||_;=m1omvo=|_;
ollb;;
(c )
$_;mm-!;rou|v_o7v;|o|
(a)
- lbmbllo=|om7;r;m7;m|om;;1; bu;1|ouv
bmbmv|-m1;v_;u;-m;m|_-vom|o7bu;1|ouvou
0 om;1;7bu;1|ouv-l-foub|o=_olv_-0;
bm7;r;m7;m|
- -l;vo= bu;1|ouv1olrubvbm]|_;!;lm;u-om
ollb;;
0 "|-|;l;m|o=u;lm;u-omrob1
1 ]]u;]-|;u;lm;u-omr-b7|o;1;
mom;;1; bu;1|ouv
olrb;7b|_
;-v;u;=;u!;lm;u-om
ollb;;u;rou|omr-];
olrb;7b|_ o=|_bv!;rou|
olrb;7b|_
7b|ollb;;
bv|;7;m|v_-_-;-m7b|ollb;;
olrb;7b|_
;-v;u;=;ur-];v-m7
o=|_bv!;rou|
34
INSPIRING
GENERATIONS

!;
No.
ourou-|;o;um-m1;!;
(a)
$_;7b|ollb;;"_-1olrubv;o=
olrb-m1;
"|-|v
- lbmbllo=|obm7;r;m7;m|om;1; bu;1|ouv olrb;7b|_

bmbmv|-m1;v_;u;-m;m|_-vom|o7bu;1|ouvou
;|-bv
7b|ollb;;1omvbv|v
o=C;om;;1;
bu;1|ouv=ouo=_ol-u;
bm7;r;m7;m|
0 l-foub|o=om;;1; bu;1|ouvv_-0;
independent;
m;mom;;1; bu;1|ouv_-0;-rrobm|;7-v|_;
_-bul-mo=|_;ollb;;0|_;o-u7o= bu;1|ouv
olrb;7b|_
Chairman of the Audit

ollb;;bv-om;;1;
bu;1|ou
uor_b;=;1;L1;u-m7_b;= bm-m1b-L1;u

v_o7-;m77b|ollb;;;;m]v
olrb;7b|_
$_;uor_b;=;1;
L1;u-m7|_;_b;= bm-m1b-
L1;u-;m7v|_;l;;m]v
0bmb|-om
$_;_-bul-mo=|_;7b|ollb;;ouom;l;l0;uv_o7 olrb;7b|_
0;-l;l0;uo=-u;1o]mb;7ruo=;vvbom--11omm]0o7
(b)
_-bul-m-m7$oo|_;u
members of the Audit
ollb;;-u;_-u|;u;7
11om|-m|vb|_--v|
hmo;7];om bm-m1b-
u;roum]-m71olrb-m1;
m1omvo=|_;7b|ollb;;v_-bm17;
- ;uv;;bm]o=|_;ru;r-u-omru;v;m|-om-m7-7;t-1 olrb;7b|_
of disclosures in the Financial Statements in accordance
b|_" !""
0 ;uv;;bm]o=|_;1olrb-m1;b|_Cm-m1b-u;roum]
olrb;7b|_
u;tbu;l;m|vbm=oul-omu;tbu;l;m|vo=|_;olr-mb;v
1|-m7o|_;uu;;-m|Cm-m1b-u;roum]u;-|;7
u;]-omv-m7u;tbu;l;m|v
1 ;uv;;bm]|_;ruo1;vv|o;mvu;|_-||_;bm|;um-
1om|uov-m7ubvhl-m-];l;m|ruo1;vv;v-u;-7;t-|;|o
l;;||_;u;tbu;l;m|vo=|_;" !""
olrb;7b|_
7 vv;vvl;m|o=|_;bm7;r;m7;m1;-m7r;u=oul-m1;o=|_; olrb;7b|_
;|;um--7b|ouv
; -h;u;1oll;m7-omv|o|_;o-u7r;u|-bmbm]|o
-rrobm|l;m|u;-rrobm|l;m|-m7u;lo-o=;|;um-
-7b|ouv-m7-rruo;|_;u;lm;u-om-m7|;ulvo=
;m]-];l;m|o=|_;;|;um--7b|ouv
olrb;7b|_
;-v;u;=;u7b|ollb;;
!;rou|omr-];v-m7o=
|_bv!;rou|=ou|_;=m1omv
o=7b|ollb;;
35
!;
No.
ourou-|;o;um-m1;!;
olrb-m1;
"|-|v
(c )
-l;vo= bu;1|ouv1olrubvbm]|_;7b|ollb;;v_o7
0;7bv1ov;7bm|_;mm-!;rou|
olrb;7b|_
$_;7b|ollb;;v_-l-h;-7;|;ulbm-omo=|_;
independence of the Auditors and disclose the basis for such
7;|;ulbm-om
olrb;7b|_
The Annual Report shall contain a Report by the Audit

ollb;;v;m]o||_;l-mm;uo=1olrb-m1;bmu;-om
|o|_;-0o;
olrb;7b|_
;|-bv
Please refer the Audit

ollb;;!;rou|omr-];v
48 and 49 of this Report
bv1ovu;bm|_;mm-!;rou|
bv|;7;m;vlv|bm17;bmb|vmm-!;rou|v-m7
accounts, inter alia;
--l;vo=r;uvomv_o;u;7bu;1|ouvo=|_;;m|7ubm]
|_;;-u
olrb;7b|_
Please refer Corporate

m=oul-omombmm;u0-1h
1o;uo=|_bv!;rou|
0ubm1br--1b;vo=|_;;m|-m7b|vv0vb7b-ub;v7ubm]
|_;;-u-m7-m1_-m];v|_;u;bm
olrb;7b|_
;-v;u;=;ur-];o=|_;
o-u7o= bu;1|ouv!;rou|
1-l;v-m7|_;ml0;uvo=v_-u;v_;70|_;-u];v|
om]-m7momom]v_-u;_o7;uv-m7r;u1;m|-];v
olrb;7b|_
;-v;u;=;ur-];o=|_bv
!;rou|
7 0b1o7bm]r;u1;m|-];
olrb;7b|_
;-v;u;=;ur-];o=|_bv
Report
; v|-|;l;m|o=;-1_7bu;1|ouv_o7bm]-m71_b;=;;1; olrb;7b|_
oL1;uv_o7bm]vbmv_-u;vo=|_;;m|-||_;0;]bmmbm]
-m7;m7o=;-1_;-u
;-v;u;=;ur-];o=|_bv
!;rou|
= m=oul-omu;-m]|ol-|;ub-=ou;v;;-0;ubvh=-1|ouvo=
|_;;m|
olrb;7b|_
;-v;u;=;ur-];v|oo=
|_bv!;rou|
] ;|-bvo=l-|;ub-bvv;vr;u|-bmbm]|o;lro;;v-m7
bm7v|ub-u;-omvo=|_;;m|

ol-|;ub-bvv;vr;u|-bmbm]
to employees and industrial
u;-omv
_ |;m|vo1-omv--omv-m7o|_;uml0;uo=
0b7bm]vo=|_;;m|v-m7_o7bm]-m7bm;v|l;m|
ruor;u|
olrb;7b|_
;-v;u;=;ur-];v-m7
o=|_bv!;rou|
b l0;uo=v_-u;vu;ru;v;mm]|_;;m|v|-|;71-rb|-
olrb;7b|_
;-v;u;=;ur-];v-m7
o=|_bv!;rou|
f 7bv|ub0omv1_;7;o=|_;ml0;uo=_o7;uvbm;-1_
1-vvo=;tb|v;1ub|-m7|_;r;u1;m|-];o=|_;bu|o|-
_o7bm]vbm|_;vr;1bC;71-|;]oub;v
olrb;7b|_
;-v;u;=;ur-];o=|_bv
!;rou|
36
INSPIRING
GENERATIONS

!;
No.
ourou-|;o;um-m1;!;
h

oobm]u-ov-m7l-uh;|rub1;bm=oul-om
Dividend per share
Dividend pay out
Net asset value per share
-uh;|-;r;uv_-u;
b]_;v|-m7|_;o;v|-;u;1ou7;7
(-;-v-||_;;m7o=|_;;-u
"b]mbC1-m|1_-m];vbm|_;;m|voub|vv0vb7b-uvC;7
-vv;|-m7|_;l-uh;|-;o=-m7b=|_;-;7b@;uv
v0v|-m-=uol|_;0ooh-;
+"!$""
l oobm]bm=oul-omv_-0;7bv1ov;7bm|_;mm-
!;rou|o=|_;bv|;7;m|bmu;vr;1|o=;-1_""
olrb-m1;
"|-|v
;|-bv
olrb;7b|_
;-v;u;=;ur-];v|o
o=|_bv!;rou|
olrb;7b|_
Please refer Note 5 to the

bm-m1b-"|-|;l;m|omr-];
o=|_bv!;rou|
olrb;7b|_
ml0;uo=oromv]u-m|;7|o;-1_1-|;]ouo=
;lro;;v7ubm]|_;;-u
|o|-ml0;uo=oromv;v|;70|mo|;;u1bv;70;-1_
1-|;]ouo=;lro;;v7ubm]|_;Cm-m1b-;-u
olrb;7b|_
|o|-ml0;uo=oromv;;u1bv;70;-1_1-|;]ouo=
;lro;;v-m7|_;|o|-ml0;uo=v_-u;v-ubvbm]|_;u;
=uol7ubm]|_;Cm-m1b-;-u
;-v;u;=;ur-];o=|_;
o-u7o= bu;1|ouv!;rou|
oromv1-m1;;77ubm]|_;Cm-m1b-;-u-m7|_;u;-vomv olrb;7b|_
=ouv1_1-m1;-om
|_;;;u1bv;rub1;
-7;1-u-om0|_;7bu;1|ouvo=|_;;m|1omCulbm]|_-| olrb;7b|_
|_;;m|ou-mo=b|vv0vb7b-ub;v_-vmo|7bu;1|ou
o|;
u,-vvbl_o-v-rrobm|;7-v-om;1; bu;1|ouom1omm;v|o0;-om;1;m7;r;m7;m| bu;1|ouo=|_;
olr-m-lb7v|_bv|;moubmoL1;;1;;7bm]mbm;;-uvuv!o_bmb-m--hh-u--v-rrobm|;7|o|_;o-u7-v-om;1;m7;r;m7;m|
bu;1|ouom1omm;v|o0;-om;1;m7;r;m7;m| bu;1|ouo=|_;olr-m-lb7v|_;u|;moubmoL1;;1;;7bm]mbm;;-uv
ufb| ;"--u-|m;-v-rrobm|;7-v-om;1; bu;1|ouom1omm;v|o0;-om;1;m7;r;m7;m| bu;1|ouo=
|_;olr-m-lb7v|_bv|;moubmoL1;;1;;7bm]mbm;;-uvu$bvv--m7-u-m--h;-v-rrobm|;7-v-om;1;m7;r;m7;m| bu;1|ou|o
|_;o-u7om-m7 u!-m;;--l-_--v-rrobm|;7-v-om;1;m7;r;m7;m| bu;1|ou|o|_;o-u7om
uu-bu"-l-u-vbm]_;-v-rrobm|;7|o|_;o-u7-v-m;1; bu;1|ouom
u"$-o|_;_-bul-mo=|_;olr-muvb7u;7$-om]u;bm+-ro_bm-m7umbm]m]u;ru;v;m||_;r-u;m|olr-m"_bm]
-muor_b1__o7lou;|_-mo=v_-u;vo=|_;olr-m
u!-r_ ;-m;uo;_o-v-rrobm|;7|o|_;o-u7ombv-vo-m;1; bu;1|ouo=bu;h--rb|--m7ub-|;blb|;7_b1_
bv-v0vb7b-uo=|_;olr-m
$_;o-u7bvo=|_;1o;1;orbmbom|_-||_;l-foub|o=om;1; bu;1|ouv-u;m7;r;m7;m|o=|_;l-m-];l;m|o=|_;1olr-m-m7=u;;
=uol-m0vbm;vvouo|_;uu;-omv_br|_-|1o7l-|;ub-bm|;u=;u;bm|_;;;u1bv;o=|_;bu=u;;-m7=-buf7]l;m|
37
o7;o=;v|u-11;o=ourou-|;o;um-m1;bvv;7fobm|0|_;";1ub;v-m71_-m];ollbvvbomo="ub-mh-
"-m7|_;"ub-mh-
";1oml0;u
1
The Company
bu;1|ouv
$_;o-u7
olrb-m1;
"|-|v
olr-mollb|l;m|
Every public company should be

_;-7;70-m;@;1;o-u7
_b1_v_o77bu;1|;-7-m7
1om|uo|_;olr-m
Compliant
$_;olr-mbv_;-7;70-m;@;1;
o-u7$_;uo;o=|_;o-u7-m7b|v
l;l0;uvo-u7=m1omvo-u7
ruo1;7u;v-m7]o;um-m1;-1b;v-u;
7bv1vv;7bm7;|-b=uolr-];v|o
!;]-uo-u7

;;m]v
u;t;m1o=o-u7l;;m]v-|
least once every quarter )
Compliant
o-u7
!;vromvb0bb;v
mvu;=oul-om-m7
blr;l;m|-omo=-vom7
0vbm;vvv|u-|;]
Compliant
mvu;|_-||_; -m7|_;
-m-];l;m||;-lrovv;vv|_;
necessary skills,
;r;ub;m1;-m7hmo;7];=ou
;@;1;blr;l;m|-omo=|_;
v|u-|;]
Compliant
7-r|;@;1;-m7v;mbou
l-m-];l;m|v11;vvbomv|u-|;]
Compliant
o-u7l;;|vom1;;;ut-u|;ul-bm
|ou;b;|_;olr-mvr;u=oul-m1;
-m7|o7;|;ulbm;_;|_;ub|vv|u-|;]b;v
-m70vbm;vvru-11;v-u;bmbm;b|_
|_;;r;1|-omo=|_;o-u7m7bb7-
-;m7-m1;bv]b;momr-];
$_;o-u7-vvl;v|_;rubl-u
responsibility for the overall success
o=|_;1olr-m$_;o-u7bvbmo;7
bm=oul-m]|_;o;u-v|u-|;]-m7
l;-vubm]|_-|b|bvblr;l;m|;7
0|_;$_; |o];|_;u
b|_|_;l-m-];l;m||;-l7;;orv
1ourou-|;v|u-|;]b;v-mm-07];|v
-m7-1omr-mv|oblr;l;m|1ourou-|;
v|u-|;]b;vom-mm-0-vbv$_;1ourou-|;
r-m-m7-mm-07];|-u;-rruo;70
|_;o-u7;;u;-u-m7-1_b;;l;m|o=
|_;o0f;1;vv;|bm|_;r-mbvlomb|ou;7
1ov;0|_;o-u7
$_;o-u7-1;ouhv|o;mvu;|_-|
|_;-m7|_;l-m-];l;m||;-l
1omm;|o_-;|_;ub]_|0--m1;o=vhbv
;r;ub;m1;-m7hmo;7];m;1;vv-u
|o7bv1_-u];|_;buu;vromvb0bb;vbm
-11ou7-m1;b|_|_;_b]_;v|v|-m7-u7vo=
]o;um-m1;
Succession plans are in place for the CEO
-m7=ouo|_;uh;l-m-];ub-rovbomv-m7
-u;lomb|ou;71ommov
38
INSPIRING
GENERATIONS

";1oml0;u
o-u7

!;vromvb0bb;v

om|7
olrb-m1;
"|-|v
mvu;|_-|;@;1;vv|;lv
-u;bmr-1;|ov;1u;bm|;]ub|
o=bm=oul-ombm|;um-1om|uov
0vbm;vv1ommb|-m7ubvh
l-m-];l;m|
Compliant
Ensure that the companys

-1b;v-u;1om71|;7bm
1olrb-m1;b|_-vu;]-omv
-m7;|_b1-v|-m7-u7v
Compliant
Ensure that all stakeholder interests Compliant

are considered in corporate
decisions
!;1o]mb;7vv|-bm-0;0vbm;vv
Compliant
7;;orl;m|bm1ourou-|;v|u-|;]
7;1bvbomv-m7-1b;v
Ensure that the Companys

Compliant
-;v-m7v|-m7-u7v-u;v;|b|_
;lr_-vbvom-7orm]-rruorub-|;
-11omm]rob1b;v-m7=ov|;ubm]
1olrb-m1;b|_Cm-m1b-
u;]-omv
Co|_;uo-u7=m1omv|_-|
-u;b|-]b;m|_;v1-;m-|u;
-m71olr;b|o=|_;0vbm;vv
1om1;um;7
olrb-m1;

b|_-v
-m711;vv|o
m7;r;m7;m|
uo=;vvbom-
7b1;
Compliant
1|bm-11ou7-m1;b|_|_;-vo= Compliant
the country and seek professional
-7b1;_;m;;uu;tbu;7
olr-mollb|l;m|
@;1;vv|;lv-m7ruo1;7u;v-u;bm
r-1;|o;mvu;|_;bm|;]ub|o=bm=oul-om
bm|;um-1om|uov-m7bm=oul-omv;1ub|
"1_vv|;lv-u;1ommovlomb|ou;7
0|_;l-m-];l;m|bm|;um--m7;|;um-
-7b|ouv-m7-|l;v0bm7;r;m7;m|
;r;u|v
$_;o-u7_-v-7or|;7-1olrb-m1;
rob1|o]b;7bu;1om|o|_;l-m-];l;m|
b|_u;]-u7|o1olrb-m1;-1b;v$_;
1olr-m_-v-vobvv;7-]uorrob1
|_-|;lro;;vv_o71olrb|_
The board ensures that the interest of all
v|-h;_o7;uvbv1omvb7;u;7-m7v-=;]-u7;7
bml-hbm]1ourou-|;7;1bvbom
$_;o-u7u;1o]mb;v|_;m;1;vvb|o=
sustainable business development in the
1ourou-|;v|u-|;]7;1bvbomv-m7-1b;v
;-v;u;=;uvv|-bm-0bb|u;rou|omr-];v
|o
$_;1olr-mv-11omm]rob1b;v-u;=
bmbm;b|_"ub-mh-11omm]"|-m7-u7v
" !""_b1_-v-7or|;7=uol|_;
Cm-m1b-;-u u|_;u|_;-11omm]
rob1b;v-u;u;b;;7-mm-|o0;bmbm;
b|_|_;1_-m]bm]0vbm;vvu;tbu;l;m|v
-m70;v|ru-11;vbm|_;bm7v|u;-v;
u;=;ubm7;r;m7;m|-7b|ouvu;rou|]b;mom
r-];
$_;o-u7|-h;v-b|v7;1bvbomvr-bm]7;
-;mom|o|_;bm|;u;v|o=-v|-h;_o7;uv
$_;o-u7-vobm|;u;m;v_;mm;1;vv-u
bm-mo|_;u=m1om|_-|bvb|-]b;m|_;
v1-;m-|u;-m7|_;1olr;b|o=|_;
1olr-mv0vbm;vv
$_;0o-u7-1|bm-11ou7-m1;b|_|_;-v
bm|_;1om|u$_;o-u7_-vr;ulb;7-
Directors to seek independent professional
-7b1;
39
";1oml0;u
olrb-m1;
"|-|v
11;vv|o

7b1;-m7
|_;";ub1;v
o=-olr-m
";1u;|-u
Advice and Services of the

Company Secretary
Compliant
m7;r;m7;m|

7]l;m|o=
bu;1|ouv
ubm]m7;r;m7;m|f7]l;m|
on various business issues and
standards of business conduct
Compliant
_-bul-m-m7-u;|o
7b@;u;m|rovbomv-m7m;;7|o0;
7bb7;7u;vromvb0bb;v
Compliant
_-bul-m-m7
_b;=;1;
L1;u
bv1ovu;u;tbu;7b=|_;rovbomv Not
of the Chairman and the CEO are
Applicable
1ol0bm;7
_-bul-mv!o;
bm-m1b-1l;m -b-0bb|o=vL1b;m|Cm-m1b-
-1l;m-m7hmo;7];|oo@;u
]b7-m1;oml-;uvo=Cm-m1;
o-u7--m1;
$_;_-bul-mvuo;bmru;v;ubm]
]oo7ourou-|;o;um-m1;
Compliant
olr-mollb|l;m|
$_;1olr-mv;1u;|-u_obv-m
-oum;-|-0ruo=;vvbombv-11;vvb0;
by any Director for the services of the
1olr-m$_;1olr-mv;1u;|-u-7b1;v
|_;0o-u7-m7;mvu;v|_-|l-;uv
1om1;umbm]|_;olr-mb;v1|0o-u7
procedures and other applicable rules and
u;]-omv-u;=oo;7"_;-vov;u;v-v
|_;v;1u;|-u|o|_;-7b|1ollb;;-m7
|_;u;lm;u-om1ollb;;
7bu;1|ouv;;u1bv;bm7;r;m7;m|
f7]l;m|om7;1bvbomvl-7;0|_;
0o-u7ombvv;vo=v|u-|;]r;u=oul-m1;
u;vou1;-o1-om-m7|_;1om71|o=
0vbm;vv
$_;=m1omvo=|_;_-bul-m-m7
are clearly separated to ensure balance of
ro;u-m7-|_oub|
$_;rovbomvo=|_;_-bul-m-m7
-u;v;r-u-|;7
$_;_-bul-mbvu;vromvb0;=ou;-7bm]|_;
o-u7-m7;mvubm]|_-|b|or;u-|;vm7;u
|_;_b]_;v|v|-m7-u7vo=]o;um-m1;
$_;=oobm]l;l0;uvo=|_;o-u7-u;
hmo;7];-0;-m7;r;ub;m1;7bm7bb7-v
_o1-mruob7;]b7-m1;oml-;uvo=
Cm-m1; bu;1|ouvrovv;vvt-bC1-omv
-m7ou;r;ub;m1;bm-11omm]-m7
Cm-m1;
$_;o-u7v_o7_-;-0--m1;
o=;;1;-m7mom;1;
bu;1|ouv
Compliant
u;v;m1;o=mom;1;
bu;1|ouv
Compliant
u;bm+-ro_bmufb|_-_;m7u-
;"b---u-|m;u$bvv-l-u-
-m7-u-m--h;-u;t-bC;711om|-m|v
;-v;u;=;uruoC;vo= bu;1|ouvomr-];v
|o
||_;;m7o=|_;;-u|_;o-u7
1olrubv;7;;;m bu;1|ouv-m7-;1;r|
|_;-u;mom;;1;|_;u;0
ruolom]1ub1-u;b;-m71om|uo
;-v;u;=;u-];|oo=|_;uoC;o=
bu;1|ouv
$;mo=|_;;;;mo-u7l;l0;uv-u;om
;1;_b1_bvbm;1;vvo=om;|_bu7
o=|_;|o|-ml0;uo= bu;1|ouv
40
INSPIRING
GENERATIONS

";1oml0;u
olrb-m1;
"|-|v
Independent Directors
ub|;ub-|o;--|;m7;r;m7;m1; Compliant
o=om;1; bu;1|ouv
mm- ;1-u-omo=om
;1; bu;1|ouv
Compliant
mm-7;|;ulbm-omo=
m7;r;m7;m1;o=om;1;
bu;1|ouv0|_;o-u7
Compliant
$_;o|;omr-];o=|_bv-mm-u;rou|
has determined the independence or nonbm7;r;m7;m1;o=;-1_7bu;1|ou
Appointment and disclosure of

senior independent directors
Not
applicable
Since the role of the chairman and the

CEO of the company are separated, this
u;tbu;l;m|7o;vmo|-ubv;
Availability of the senior

Not
independent director for
Applicable
1omC7;m-7bv1vvbomvb|_o|_;u
directors
!;1ou7bm]o=1om1;umv_b1_
Compliant
cannot be unanimously resolved in
o-u7lbm|;v
"rro=
m=oul-om
$_;o-u7v_o70;ruob7;7b|_
l;bm=oul-om
in a form and of a quality
appropriate to enable it to
7bv1_-u];b|v7;v
Compliant
olr-mollb|l;m|
b;om;1; bu;1|ouv-u;
bm7;r;m7;m|_b1_bvbm;1;vvo=om;
|_bu7o=|_;om;1; bu;1|ouv
C;bm7;r;m7;m|mom;;1;
directors meet the criteria for
independence as per the code of best
ru-11;v1ourou-|;]o;um-m1;1o7;-m7
bvm]u;v-m7=u;;
o=0vbm;vvouo|_;uu;-omv_brv|_-|
1o7lo7;u-|;bmY;m1;|_;;;u1bv;
o=|_;bum=;;u;7-m7bm7;r;m7;m1;
f7]l;m|
mom;;1;7bu;1|ouv_-;v0lb;7
|_;7;1-u-omo=bm7;r;m7;m1;oumom
bm7;r;m7;m1;-vr;u|_;1o7;
-Do-
7;1bvbomvo=|_;o-u7;u;|-h;m
unanimously and there are no concerns
u-bv;70|_;7bu;1|ouv7ubm]|_;;-u
_b1_m;;7;7|o0;u;1ou7;7bm|_;0o-u7
lbm|;vo;;ub=v1_1om1;umv7o
arise the companys policy is to record
|_;l-11ou7bm]
bm-m1b--m7momCm-m1b-bm=oul-om-u;
-m-;7-m7ru;v;m|;7|o|_;0o-u7|o
l-h;-11u-|;7;1bvbomv
41
";1oml0;u
olrb-m1;
"|-|v
-m-];l;m|vu;vromvb0bb||o
Compliant
ruob7;|_;o-u7b|_-rruorub-|;
-m7l;bm=oul-om
7;t-|;l;=ou;@;1;o-u7
;;m]v
rrobm|l;m|v|o There should be a formal and

|_;o-u7
transparent procedure for the
-rrobm|l;m|o=m; bu;1|ouv|o
|_;o-u7

bv1ovu;o=7;|-bvo=m;
directors to shareholders
Compliant
!;;1om
All Directors should be required to

v0lb||_;lv;;v=ouu;;;1om
-|u;]-ubm|;u-v-m7-|;-v|
once in every three years
rrobm|l;m|-m7u;;;1omo=
mom;1; bu;1|ouv
olr-mollb|l;m|
$_;l-m-];l;m|;mvu;v|_-|-
v;|o=l;-11u-|;u;;-m|-m7
1olru;_;mvb;bm=oul-ombv
ruob7;7|o|_; bu;1|ouv0;=ou;|_;o-u7
;;m];;ulom|_b|_-7;t-|;l;
=ou|_;l|ou;b;|_;v-l;-m7ru;r-u;
=ou7bv1vvbomvvb]mbC1-m|Cm-m1b--m7
momCm-m1b-bm=oul-om=ou|_;r;ubo7-u;
bm17;7bm|_bv-m-vbv
o-u7-r;uv-m7r-r;uv=ou
v01ollb;;l;;m]v-u;1bu1-|;7-|
;-v|om;;;hrubou|ov1_l;;m]v
m;-rrobm|l;m|vo=|_;o-u7-u;
l-7;=oobm]-=oul--m7|u-mvr-u;m|
ruo1;7u;
Compliant
-rrobm|l;m|vo=m;7bu;1|ouv-u;
bm=oul;7|o|_;v_-u;_o7;uvb|_
vL1b;m|7;|-bvb-bll;7b-|;moC1-om
|o|_;"
;-v;u;=;ur-];o=|_;-mm-u;rou|
=ou7;|-bvo=u;;;1omo= bu;1|ouv
Compliant
;-v;u;=;ur-];o=|_;mm-!;rou|
Compliant
;-v;u;=;ur-];o=|_;mm-!;rou|
;1omo= bu;1|ouv0|_;
shareholders
bv1ovu;o=

m=oul-omo=
bu;1|ouv
"_-u;_o7;uvv_o70;h;r|-7bv;7o=u;;-m|7;|-bvbmu;vr;1|o= bu;1|ouv
Disclosures on Directors in the

annual report
Compliant
!;tbu;7bm=oul-omb|_u;vr;1|
to Directors are disclosed in this
-mm-u;rou|_;u;u;;-m|-l;v
t-bC1-omv-m7ruoC;vbm17bm]
;r;uv;bmu;;-m|=m1om--u;-vo=-
o-u7;l0;uv-u;ruob7;7omr-];v
|o
Details of Directors interest in contracts
-u;]b;momr-];
;|-bvo=u;-|;7r-u||u-mv-1omv-u;
ruob7;7omr-];v|o
42
INSPIRING
GENERATIONS

";1oml0;u
olrb-m1;
"|-|v
rru-bv-o= $_;o-u7v_o70;u;tbu;7
at least annually, to assess the
performance of the CEO
olr-mollb|l;m|
mm-|_;!;lm;u-omollb;;-m7
|_;o-u7-vv;vv;7|_;vr;u=oul-m1;
";m]-mm-|-u];|=ou Compliant
-v;7omom]|;ulv|u-|;]-mm-
o0f;1;v-u;C;70|_;o-u7
--omo=|_;r;u=oul-m1;o=
the CEO
Compliant
--omvo=-1_b;;l;m|v;|-u;
u;b;;7-mm-0|_;o-u7

bu;1|ouv
!;lm;u-om
olr-mb;vv_o7;v|-0bv_-=oul--m7|u-mvr-u;m|ruo1;7u;=ou7;;orbm]rob1b;vom
;;1;u;lm;u-om-m7=ouCbm]|_;u;lm;u-omr-1h-];vo=bm7bb7- bu;1|ouvo
bu;1|ouv_o70;bmo;7bm7;1b7bm]_bv_;uomu;lm;u-om
u;v;m1;o=-!;lm;u-om
ollb;;
Compliant
olrovbomo=!;lm;u-om
ollb;;
Compliant
Disclosure of the members of the

!;lm;u-omollb;;bm|_;
mm-!;rou|
Compliant
;|;ulbm-omo=u;lm;u-omo= Compliant
om;1; bu;1|ouv

;;-m7
-h;ro=
!;lm;u-om
!;lm;u-omollb;;_-v0;;m
-rrobm|;7-m7=m1omvb|_bm-]u;;7
|;ulvo=u;=;u;m1;
;-v;u;=;ur-];=ou|_;!;lm;u-om
ollb;;!;rou|
;-v;u;=;ur-];=ou7;|-bvo=|_;
1olrovbomo=!;lm;u-omollb;;
;l0;uvu;vromvb0bb;v-m7o|_;u
bm=oul-ombmu;vr;1|o=|_;u;lm;u-om
1ollb;;-u;7bv1ov;7omr-];
om;1; bu;1|ou_o-u;molbm;;v

of the parent company are paid a nominal
=;;=ou|_;bu-;m7-m1;-||_;o-u7-m7
v01ollb;;l;;m]v
0bb||o1omv||_;1_-bul-m-m7 Compliant
$_;1ollb;;1omv|v|_;_-bul-m-m7
or CEO and to seek professional
|_;_;u;m;1;vv-u_-v-11;vv|o
-7b1;0|_;1ollb;;
|_;ruo=;vvbom--7b1;=uolb|_bm-m7
o|vb7;|_;1olr-m
$_;;;vo=u;lm;u-omo=0o|_;1;-m7om;1; bu;1|ouvv_o70;vL1b;m|
|o-u-1|-m7u;|-bm|_; bu;1|ouvm;;7;7|oum|_;olr-mv11;vv=
Compliant
!;lm;u-omr-1h-];vo=
;1; bu;1|ouv
olr-ubvomo=u;lm;u-omb|_ Compliant
other Companies
$_;!;lm;u-omollb;;-m7|_;
o-u7;mvu;v|_-||_;_obv|_;
om;1; bu;1|ouom|_;
o-u7bvruob7;7b|_-m-rruorub-|;
u;lm;u-omr-1h-];
$_;!;lm;u-omollb;;1olr-u;v
|_;u;lm;u-om;;vo=|_;1olr-m
b|_v1_r-1h-];vo=1olr-u-0;
1olr-mb;vbm|_;bm7v|u-m7bvv;mvb;
|o1_-m];vbm|_;u;lm;u-om;;v
43
";1oml0;u
olrb-m1;
"|-|v
;vb]mbm]r;u=oul-m1;
Compliant
0-v;7u;lm;u-omo=;1;
Directors

olr;mv-om1ollb|l;m|vom
;-u|;ulbm-om
Compliant
!;lm;u-omo=om;1;
Directors
Compliant

bv1ovu;o=
!;lm;u-om
olr-mollb|l;m|
0f;1;v=ou|_;_obv|_;om
;1; bu;1|ouom|_;o-u7-u;
v;|-||_;0;]bmmbm]o=|_;;-u|o-b]m
_bvbm|;u;v|vb|_|_ov;o=|_;1olr-m
11ou7bm]_bvu;lm;u-ombm17bm]|_;
performance bonus is decided based upon
|_;7;]u;;o=-1_b;;l;m|o=v1_ru;v;|
|-u];|v
$;ulbm-omo=|_;;1; bu;1|ou
bv]o;um;70_bv1om|u-1|o=
v;ub1;;lrol;m|
om;1; bu;1|ouv-u;r-b7omom
|_;bu-;m7-m1;-|l;;m]v
$_;olr-mvmm-!;rou|v_o71om|-bm-v|-|;l;m|o=!;lm;u-omrob1-m77;|-bv
o=!;lm;u-omo=|_;o-u7-v_o;
bv1ovu;o=!;lm;u-om

!;-omvb|_"_-u;o7;uv

omv|u1;
v;o=|_;
mm-;m;u-
;;m]
-m7om71|o=
;m;u-;;m]
Compliant
o-u7vv_o7v;|_;|o
1ollmb1-|;b|_v_-u;_o7;uv
-m7v_o7;m1ou-];|_;bu
r-u1br-om
$_;-]]u;]-|;u;lm;u-omr-b7|o|_;
-m7mom;1; bu;1|ouvbv
7bv1ov;7omr-];o=|_bvu;rou|$_;
!;lm;u-omollb;;v!;rou|_b1_
_b]_b]_|v|_;u;lm;u-omrob1-||_;
1olr-mbv]b;omr-];
;-v;u;=;ur-];=ou7;|-bvo=|_;
mm-;m;u-;;m]
C.1.1
&v;o=uo(o|;v
Compliant
C.1.3
-b-0bb|o=_-bul;mo=o-u7
ollb;;v-||_;
Compliant
The company has in place a mechanism

|o1om|-ruoo|;v|obm7b1-|;|o|_;
1_-bul-m|_;;;o=ruob;vo7];7om
;-1_u;voom-m7|_;ml0;uo=o|;v
=ou-m7-]-bmv|v1_u;voom
$_;_-bul-mo=|_;o-u7;mvu;v|_-|
|_;_-bul-mo=o-u7"01ollb;;v
-u;ru;v;m|-||o-mv;u-mt;u
0v_-u;_o7;uv
44
INSPIRING
GENERATIONS

";1oml0;u
C.1.4
olr-mollb|l;m|
7;t-|;mo1;o=|_;
C.1.5
C.2
olrb-m1;
"|-|v
Major and
-|;ub-
$u-mv-1om
$_;mm-!;rou||o];|_;ub|_mo1;
o=l;;m]-m7u;-|;77o1l;m|v-m7
o|_;uu;voomvb=-mbv1bu1-|;7|o
|_;v_-u;_o7;uv-|;-v|ouhbm]7-v
rubou|o|_;7-|;o=|_;$_;mm-
!;rou|-vv0lb;7|o|_;"
om|_rub-m7-vrov|;7|o-
v_-u;_o7;uv0|_-u1_$_;
-v_;7om|_-
"ll-uo=ruo1;7u;vo;umbm]
$_;ruo=oul_b1_bm17;v-vll-u
om]-||_;;m;u-;;m]
o=|_;ruo1;7u;v]o;umbm]om]-|
|_;;m;u-;;m]vbv1bu1-|;7|o-
v_-u;_o7;uv
l-|;ub-|u-mv-1omvb;_b1_b=;m|;u;7bm|oo7l-|;ub--|;u-u|_;m;|-vv;|-;
o=|_;1olr-mv_o70;7bv1ov;7
Disclosure or proposed major
|u-mv-1omv
D.
Accountability and Audit
D.1
Financial
!;roum]
Not
applicable
$_;u;;u;mol-fou|u-mv-1omv7ubm]
|_;;-u_o;;ub=-mv1_|u-mv-1omv
do occur, it is the policy of the company to
disclose them in the Quarterly and Annual
bm-m1b-"|-|;l;m|vbm-11ou7-m1;b|_
u;;-m|" !"-m7|_;1olr-mb;v1|
$_;o-u7v_o7ru;v;m|-0--m1;7-m7m7;uv|-m7-0;-vv;vvl;m|o=|_;olr-mv
Cm-m1b-rovbomr;u=oul-m1;-m7ruovr;1|v
D.1.1
o-u7u;vromvb0bb|=ouv|-||ou
-m7u;]-|ouu;roum]
Compliant
D.1.2
;1-u-omv0 bu;1|ouvbm|_;
bu;1|ouvu;rou|
Compliant
D.1.3
Statements by Directors and

Auditors on responsibility for
Cm-m1b-u;roum]
Compliant
D.1.4
-m-];l;m| bv1vvbomm-vbv
Compliant
$_;1olr-mru;v;m|vb|vCm-m1b-
v|-|;l;m|vbmbm;b|_"ub-mh-
11omm]"|-m7-u7v" !"-m7o|_;u
-rrb1-0;-v-m7u;]-omv
The Directors have made all required
7;1-u-omvbm|_;mm-!;rou|o=|_;
o-u7o= bu;1|ouvom|_;-@-buvo=|_;
1olr-m_b1_bv]b;momr-];v|o
-];1om|-bmv|_;v|-|;l;m|v;m]
o||_;u;vromvb0bb|o=|_;o-u7=ou|_;
ru;r-u-om-m7ru;v;m|-omo= bm-m1b-
"|-|;l;m|v
$_;-m-];l;m|7bv1vvbom-m7-m-vbv
-u;-rr;-ubm]bmr-];v|o
45
";1oml0;u
olrb-m1;
"|-|v
D.1.5
;1-u-om0|_;o-u7om|_;
]obm]1om1;umo=|_;0vbm;vv
Compliant
D.1.6
Requirement to summon an
|u-ou7bm-u;m;u-;;m]
|omo=v;ubovovvo=
capital
Internal Controls
Not
applicable
D.2.1
Directors to conduct an annual

u;b;o=bm|;um-1om|uov
Compliant
D.2.2
The need for an internal audit

=m1om
Compliant
D.3
7b|ollb;;
D.3.1
;vo=|_;7b|ollb;;
Compliant
D.3.2
;vo=|_;7b|ollb;;
Compliant
D.3.3
Terms of reference of the Audit

ollb;;
Compliant
D.2
olr-mollb|l;m|
$_;o-u7-[;u1om71m]m;1;vv-u
u;b;v-m7;mtbu;v7;1b7;7|o-rr|_;
]obm]1om1;um-vvlrombmru;r-ubm]
the companys Financial Statements for
|_;;-u$_;7;1-u-omo=|_;
1olr-m-v-]obm]1om1;umbv]b;mbm
|_; bu;1|ouv!;rou|omr-];
$_;o-u7l-bm|-bmv-vom7vv|;lo=
bm|;um-1om|uov|ov-=;]-u7v_-u;_o7;uv
bm;v|l;m|v-m7|_;olr-m-vv;|v
$_;o-u7_-vo;u-u;vromvb0bb|=ou
the system of internal controls and has
7;;]-|;7vol;o=|_;v;u;vromvb0bb;v|o
|_;7b|ollb;;
$_;olr-m_-v-rrobm|;7v
ub1;-|;u_ov;oor;uv)-v|_;
m|;um-7b|ouvo=|_;olr-m
reports by the Internal Auditors are tabled
-||_;7b|ollb;;l;;m]v
$_;o-u7_-v;v|-0bv_;7=oul--m7
|u-mvr-u;m|-uu-m];l;m|=ou1omvb7;ubm]
_o|_;v_o7v;;1|-m7-rr
-11omm]rob1b;vCm-m1b-u;roum]-m7
internal control principles and maintain an
-rruorub-|;u;-omv_brb|_|_;1olr-m
-7b|ouv
$_;7b|ollb;;lomb|ouv
-m7u;b;v|_;|;um-7b|ouv
bm7;r;m7;m1;o0f;1b|-m7|_;
;@;1;m;vvo=|_;-7b|ruo1;vv|-hbm]
into account the relevant professional and
u;]-|ouu;tbu;l;m|v
$_;7b|ollb;;lomb|ouv
-m7u;b;v|_;|;um-7b|ouv
bm7;r;m7;m1;o0f;1b|-m7|_;
;@;1;m;vvo=|_;-7b|ruo1;vv|-hbm]
into account the relevant professional and
u;]-|ouu;tbu;l;m|v
$_;7b|ollb;;or;u-|;vb|_1;-u
7;Cm;7|;ulvo=u;=;u;m1;_b1_-u;
u;b;;7-mm-
46
INSPIRING
GENERATIONS

";1oml0;u
olrb-m1;
"|-|v
D.3.4
Disclosure of names of the

l;l0;uvo=|_;7b|ollb;;
D.4
o7;o=vbm;vvom71||_b1v
D.5
Corporate Governance Disclosure
D.5.1
bv1ovu;o=1olrb-m1;b|_|_;
ourou-|;o;um-m1;o7;
Compliant
Compliant
olr-mollb|l;m|
-l;vo= bu;1|ouv1olrubvbm]|_;7b|
ollb;;-u;v;|o|omr-];o=|_;
mm-!;rou|
olr-mb;vlv|-7or|-o7;o=vbm;vv
Conduct and Ethics for Directors and
;l0;uvo=|_;";mbou-m-];l;m||;-l
-m7lv|ruolr|7bv1ov;-m-b;uvo=
|_;1o7;0 bu;1|ouvouo|_;uv
Directors should be required to disclose
|_;;|;m||o_b1_|_;1olr-m
addresses to establish principles and
ru-11;vo=]oo71ourou-|;]o;um-m1;
-];|ov;|o||_;l-mm;u-m7
;|;m||o_b1_|_;1olr-m_-v1olrb;7
b|_|_;rubm1br;v-m7ruobvbomvo=
|_;o7;o=;v|u-11;omourou-|;
Governance issued jointly by the SEC and
|_;"ub-mh-
"_-u;_o7;uv
mv|om-m;v|ouv
"_-u;_o7;u
(om]
"_o7;mvu;bmv|om-v_-u;_o7;uvom]bm|;momv-u;|u-mv-|;7bm|oru-11;
--omom
Governance
bv1ovu;v
mv|om-bm;v|ouvv_o70;;m1ou-];7|o]b;7;;b]_||o|_;u;;-m|]o;um-m1;
-uu-m];l;m|v
|_;um;v|ouv
m;vm]
b;vm]
Decisions
m7bb7-"_-u;_o7;uv-u;;m1ou-];7|ov;;hbm7;r;m7;m|-7b1;ombm;vm]ou7b;vm]
7;1bvbomv
"_-u;_o7;u
(om]
"_-u;_o7;uv-u;;m1ou-];7|or-u1br-|;-|mm-;m;u-;;m]-m71-v||_;buo|;v
47
Remuneration Committee Report
olrovbomo=|_;ollb;;
!;lm;u-omob1
$_;!;lm;u-omollb;;1omvbv|vo=C;l;l0;uv
o|o=_ol=ou-u;om;1;m7;r;m7;m|
bu;1|ouv$_;!;lm;u-omollb;;1omvbv|vo=|_;
=oobm]l;l0;uv
$_;olr-mvu;lm;u-omrob1-blv|o-u-1|
-m7u;|-bmt-bC;7-m7;r;ub;m1;7|;-lo=_b]_
1-b0;ul-m-];uv-m7ruo=;vvbom-v-m7u;-u7|_;bu
r;u=oul-m1;
u,-vvbl
m7;r;m7;m|om;1;
Director (Chairman of the
ollb;;
v!o_bmb
Nanayakkara
m7;r;m7;m|om;1;
Director
ufb|7;"
Jayaratne
m7;r;m7;m|om;1;
Director
u$bvv-
-m7-u-m--h;
m7;r;m7;m|om;1;
Director
umbm]m]
om;1; bu;1|ou
!;lm;u-omrob1o=|_;olr-mb|_u;]-u7
to increments and bonus schemes is based on the
r;u=oul-m1;l-m-];l;m|vv|;l-m7;--om
vv|;lvbmv|-;70|_;olr-mm1;|_;
u;lm;u-omrob1o=|_;olr-m-vu;1oll;m7;7
0|_;ollb;;bv-rruo;70|_;o-u7|_;
!;lm;u-omollb;;b|_;m-rruo;-m7
u;1oll;m7|o|_;o-u7|_;Cm-bv;7ruorov-v=ou|_;
]u-mm]o=bm1u;l;m|v|o|_;h;v;mbou;;v|-@
$_;!;lm;u-omollb;;|-h;bm|o-11om||_;
r;u=oul-m1;o=|_;olr-m-m7om]|;ulv_-u;_o7;u
u;|umvbm-|_;bu7;b0;u-omv
$_;0ub;=ruoC;vo=|_;7bu;1|ouv-u;]b;momr-];v|o
o=|_;mm-!;rou|
"1or;o=|_;ollb;;
$_;ollb;;7;b0;u-|;v-m7u;1oll;m7v|o|_;
o-u7o= bu;1|ouvomu;lm;u-omr-1h-];v-mm-
bm1u;l;m|v-m70omv;vr-b7|o|_;_b;=;1;
L1;u-m7o|_;uv;mbou;;v|-@$_;ollb;;
bv-vou;vromvb0;=ou|_;7;|;ulbm-omo=|_;
1olr;mv-omo=|_;;1; bu;1|ouv-m7=;;vr-b7
|o|_;om;1; bu;1|ouv=our-u1br-om-|o-u7
l;;m]v
H. Z. Cassim
_-bul-m!;lm;u-omollb;;
24th February 2016
48
INSPIRING
GENERATIONS
Audit Committee Report
$_;7b|ollb;;o=|_;;uv;-v!;-|;om
-rrobm|;70-m7u;vromvb0;|o|_;o-u7o= bu;1|ouv
1olrubv;v=oum7;r;m7;m|om;1; bu;1|ouv-m7
-om;1; bu;1|ou-v=oov
ufb|7;"--u-|m;
m7;r;m7;m|om
;1; bu;1|ou
(Chairman of the
ollb;;
uvv;bm,0bu;-vvbl
m7;r;m7;m|om
;1; bu;1|ou
u;bm+-ro_bm
om;1;
Director
uv!o_bmb-m--hh-u-
m7;r;m7;m|om
;1; bu;1|ou
u$bvv--m7-u-m--h;
m7;r;m7;m|om
;1; bu;1|ou
!o;o=|_;7b|ollb;;
$_; 7b| ollb;;v l-bm o0f;1; bv |o -vvbv| -m7
u;ru;v;m| |_; o-u7 o= bu;1|ouv bm 7bv1_-u]bm] b|v
u;vromvb0bb;v 0 o;uv;;bm] |_; Cm-m1b- u;roum]
ruo1;vv |o ;mvu; 0--m1; |u-mvr-u;m1 -m7 bm|;]ub|
o= r0bv_;7 Cm-m1b- bm=oul-om o;uv;; |_; bm|;um-
-m7;|;um--7b|ruo1;vvu;b;|_;;@;1;m;vv-m7
-7;t-1 o= |_; bm|;um- 1om|uo -m7 ubvh l-m-];l;m|
ruo1;vv -vv;vvbm] |_; r;u=oul-m1; o= |_; bm|;um- -m7
;|;um- -7b|ouv ;mvubm] bm7;r;m7;m1; -m7 ;mvubm]
1olrb-m1; b|_ -v -m7 u;]-omv _b1_ ;@;1|
Cm-m1b-u;roum]-m70vbm;vv1om71|m=Cbm]|_bv
uo; |_; 7b| ollb;; bv ;lro;u;7 |o ;-lbm;
|_; Cm-m1b- u;1ou7v o= |_; olr-m bm|;um- -7b|ouv
u;rou|v-m7o|_;u1ollmb1-omv-vm;1;vv-ubmou7;u
to ensure the Company adheres to accepted norms of
;|_b1-]b7;bm;vu;v-m7u;]-omv
$_;_-bul-mo=|_;ollb;;ufb|7;"--u-|m;
-m bm7;r;m7;m| mom;;1; bu;1|ou bv - Cm-m1;
ruo=;vvbom- b|_ o;u ;-uv o= ov| -bC1-om
;r;ub;m1; ; bv - ;o l;l0;u o= |_; mv||; o=
_-u|;u;711om|-m|v o= "ub -mh- -m7 |_; mv||; o=
_-u|;u;711om|-m|vo=&
$_; 7b| ollb;; u;1oll;m7v |_; -rrobm|l;m|

o= ;|;um- -7b|ouv ;mvubm] |_;bu bm7;r;m7;m1; -m7
l-bm|-bmv-1ov;ruo=;vvbom-u;-omv_brb|_|_;l$_;
ollb;;-vou;1oll;m7v|_;=;;vr--0;|o|_;lbm
|_;;;1omo=|_;v;v;ub1;v
_-u|;u -v -rruo;7 -m7 -7or|;7 0 |_; o-u7

bm ;0u-u |o =oul-bv; |_; ollb;;v
u;vromvb0bb;vbm;;u1bvbm]b|vo;uvb]_|uo;bm|_;-u;-v
o=Cm-m1b-u;roum]bm|;um-1om|uovubvhl-m-];l;m|
-m7u;]-|ouv|-||ou1olrb-m1;
;;m]v
$_;l;l0;uv_-;-;0--m1;70;m7o=;r;ub;m1;bm
|_;1oll;u1b-v;1|ouvCm-m1b-v;1|ouv-m7-7b|v;1|ouv
real estate and real estate development sectors and
_-; 7bvr-;7 _b]_ v|-m7-u7v o= bm|;]ub| -m7 0vbm;vv
-1l;m $_;v; -ub0|;v -m7 |_; ;-|_ o= ;r;ub;m1;
-m7;rovu;|_;0ubm]bm1om|ub0|;|o|_;;@;1;m;vv
bm_b1_|_;ollb;;1-uub;vo|b|v7;v
$_;ruoC;vo=|_;l;l0;uv_b1_7;|-b|_;bu0-1h]uom7
-m7ruo=;vvbom-;r;ub;m1;-u;omr-];v|oo=|_bv
!;rou|
$_;7b|ollb;;_-vl;|=oul;v7ubm]|_;
;-u;m7;7 ;1;l0;u-m7|_;-;m7-m1;-v
-v=oov
ufb|7;"--u-|m;_-bul-m
uvv;bm,0bu;-vvbl
u+-ro_bm
uv!o_bmb-m--hh-u-
u$bvv--m7-u-m--h;
$_;olr-m";1u;|-u=m1omv-v|_;";1u;|-u|o|_;
7b|ollb;;;;m]v;u;-;m7;70|_;uor
_b;=;1;L1;u-m7uor_b;= bm-m1b-L1;u
-m7 o|_;u v;mbou l-m-];l;m| l;l0;uv 0 bmb|-om
$_; ruo1;;7bm]v o= |_; 7b| ollb;; -u; u;]-u
u;rou|;7|o|_;o-u7
49
Internal Audit
$_; bm|;um- -7b| =m1om bv o|vou1;7 |o
ub1;-|;u_ov;oor;uv)=ou-1olr-mb;vbm|_;
uor -v u;1oll;m7;7 0 |_; 7b| ollb;; $_;
o0v;u-omvo=|_;bm|;um--7b|ouv-u;|-0;7-||_;7b|
ollb;;-m7|_;ollb;;bmb|;vu;ru;v;m|-;vo=
)|o7bv1vvo0v;u-omv-m7u;1oll;m7-omvl-7;
bm|_;buu;rou|v oor-m7blr;l;m|-omo=ru;bov
bm|;um- -7b| u;1oll;m7-omv -u; -vo 7bv1vv;7 -m7
u;b;;7 0 |_; ollb;; b|_ ) u;ru;v;m|-;v
$_; ollb;; -rru-bv;v |_; o-u7 om |_; v|-|v -m7
-7;t-1 o= bm|;um- 1om|uov -m7 |_; ;@;1;m;vv
|_;u;o=
$_; ollb;; bv o= |_; b; |_-| -7;t-|; 1om|uov
processes and procedures are in place to provide
u;-vom-0; -vvu-m1; |o |_; o-u7 |_-| |_; olr-mv
-vv;|v -u; v-=;]-u7;7 -m7 -7;t-|; Cm-m1b- u;roum]
vv|;lv -u; bm r-1; $_; bm|;um- -7b|ouv u;rou|v -u;
l-7;--b-0;|o;|;um--7b|ouv-v;
uor_b1_l-_-;-0;-ubm]om|_;bm7;r;m7;m1;o=
|_;buuo;-v-7b|ouv
$_;ollb;;_-vu;1oll;m7;7|_;u;-rrobm|l;m|o=
;vvuvumv|+om]-v7b|ouv=ou|_;Cm-m1b-;-u
;m7bm] ;1;l0;u -| - =;; |o 0; 7;|;ulbm;7
0|_;o-u7o= bu;1|ouvv0f;1||o|_;-rruo-0|_;
v_-u;_o7;uv-||_;mm-;m;u-;;m]
Conclusion
$_; ollb;; bv v-vC;7 |_-| |_; olr-mv bm|;um-
1om|uov -u; ;@;1; blr;l;m|;7 -v 7;vb]m;7 -m7
|_-| |_; olr-mv -vv;|v -u; -7;t-|; v-=;]-u7;7
$_;olr-mvm|;um--m7|;um-7b|ouv_-;0;;m
;@;1;-m7bm7;r;m7;m||_uo]_o||_;;-u
$_; ollb;; bv -vo v-vC;7 |_-| |_; or;u-om-
1om|uov -m7 |_; -rrb1-om o= -rruorub-|; -11omm]
rob1b;v ruob7; u;-vom-0; -vvu-m1; |_-| |_; Cm-m1b-
v|-|;l;m|vo=|_;olr-m-u;|u;-m7=-bu
uor;u|(--om
m bm7;r;m7;m| _-u|;u;7 (--om "u;ou u
-]--];7-u-_-v1om71|;7|_;-mm---omo=|_;
m;v|l;m| uor;u| o= |_; uor $_; ollb;; _-v
7bv1vv;7-m7m7;uv|oo7|_;--oml;|_o7-m7|_;
-vvlromvv;7bm|_;7;|;ulbm-omo=|_;=-bu-;o=
m;v|l;m|uor;u|
External Audit
$_;olr-m_-v-rrobm|;7umv|+om]-vb|v;|;um-
-7b|ou-m7|_;v;ub1;vruob7;70|_;l-u;v;]u;]-|;7
0;|;;m -7b|-vvu-m1; v;ub1;v -m7 o|_;u -7bvou
v;ub1;v v1_ -v |- 1omv|-m1 $_; 7b| ollb;;
u;b;v |_;v; -7b| -m7 mom-7b| =m1omv o= |_;
|;um- 7b|ouv 0;=ou; v1_ v;ub1;v -u; -vvb]m;7 bm
order to ensure that the provisions of such services does
mo| blr-bu bm7;r;m7;m1; -m7 |_-| ouh bv -vvb]m;7 bm
v1_-l-mm;u-v|oru;;m|-m1omYb1|o=bm|;u;v|
$_;7b|ollb;;_-vu;b;;7-m77bv1vv;7|_;h;
o0v;u-omv-m7u;1oll;m7-omvom|_;-m-];l;m|
;;u bvv;7 0 umv| +om] bm |_; ru;v;m1; o= |_;bu
u;ru;v;m|-;v
umv|+om]_-v-vobvv;7-7;1-u-om-vu;tbu;70
|_;olr-mb;v1|oo=|_-||_;7omo|_-;
-mu;-omv_broubm|;u;v|bm-mo=|_;1olr-mb;vbm|_;
fb|7;"--u-|m;
_-bul-m7b|ollb;;
24th February 2016
50
50
mm-!;rou|o=|_;o-u7o= bu;1|ouv52
bu;1|ouv"|-|;l;m|omm|;um-om|uov58
bu;1|ouv!;vromvb0bb|=ou bm-m1b-!;roum]60
m7;r;m7;m|7b|ouv!;rou|61
"|-|;l;m|o= bm-m1b-ovbom62
"|-|;l;m|o=uoC|ouovv63
"|-|;l;m|o=olru;_;mvb;m1ol;64
"|-|;l;m|o=_-m];vmtb|65
"|-|;l;m|o=-v_ ov66
FINANCIAL
REPORTS
o|;v|o|_; bm-m1b-"|-|;l;m|v67
uor;u=oul-m1;$;m+;-u"ll-u118
"_-u;_o7;um=oul-om120
uor-m7ouobo124
o1;o=;;m]125
FINANCIAL CALENDER
Interim Financial Statements
v|
m7
u7
|_
-u|;uv|-u1_
-u|;u|_m;
-u|;u|_";r|;l0;u
-u|;uv| ;1;l0;u
Target set for 2016
Achievement in 2015
rub
July-16
1|o0;u
January-17
07th May 2015

30th July 2015
|_1|o0;u
25th February 2016
mm-!;rou|-m7 bm-m1b-"|-|;l;m|v|o"_-u;_o7;uv
2014
2015
24th March 2015

March 2016
bb7;m7v
buv|-m7 bm- bb7;m7-m7m7 bm- bb7;m7=ou
buv|-m7 bm- bb7;m7=ou
u7mm-;m;u-;;m]
|_mm-];m;u-;;m]
07th May 2015

|_rub
6th May 2015
|_rub
52
INSPIRING
GENERATIONS
Annual Report of the Board of Directors
General
$_; o-u7 o= bu;1|ouv _-v r;-vu; bm ru;v;mm] |_;bu
u;rou|om|_;-@-buvo=|_;olr-m|o];|_;ub|_|_;
audited Financial Statements of Overseas Realty (Ceylon)
PLC and the audited Consolidated Financial Statements of
|_;uor=ou|_;;-u;m7;7v| ;1;l0;u$_;
7;|-bv v;| o| _;u;bm ruob7; |_; r;um;m| bm=oul-om
u;tbu;7 m7;u ";1om o= |_; olr-mb;v 1| o
o= |_; ool0o "|o1h 1_-m]; bvm] !;v
-m7 |_; u;1oll;m7;7 0;v| ru-11;v om ourou-|;
o;um-m1;
Overseas Realty (Ceylon) PLC is a Public Listed Company
b|_ blb|;7 b-0bb| bm1ourou-|;7 bm "ub -mh- om |_
1|o0;u -m7 u;u;]bv|;u;7 m7;u |_; olr-mb;v
1|oo=
ubm1br-1b;v
$_; rubm1br- -1b;v o= |_; olr-m 7ubm] |_; ;-u
1omm;7 |o 0; ruor;u| ;-vbm] ruor;u| |u-7bm] -m7
ruobvbomo=ruor;u|v;ub1;v$_;u;;u;movb]mbC1-m|
1_-m];vbm|_;m-|u;o=rubm1br--1b;vo=|_;olr-m
-m7b|vv0vb7b-ub;v7ubm]|_;Cm-m1b-;-um7;uu;b;
bu;h- -rb|- -m7 | |7 bv - v0vb7b-u o= |_;
olr-m _b1_ _-v m7;u|-h;m |_; 7;;orl;m| o=
|_; -;o1h b| uof;1| -m7 ruob7bm] bm=u-v|u1|u;
=-1bb;v |o |_; ruof;1| $_; 7;;orl;m| o= u;vb7;m-
-r-u|l;m|v bv m7;u|-h;m 0 bu;h- ol;v | |7 -
= om;7 v0vb7b-u o= bu;h- -rb|- -m7 | |7
-;o1h b| | |7 b m7;u|-h; |_; 7;;orl;m|
o= |_; oll;u1b- 1olrom;m| o= |_; -;o1h b|
ruof;1| !;-| -m-];l;m| ";ub1;v | |7 ruob7;v
ruor;u|v;ub1;v-m7|u-7bm]o=b]_m]voomv
!;b;o=vbm;vv
u;b;o=Cm-m1b--m7or;u-om-r;u=oul-m1;o=|_;
olr-m -m7 b|v v0vb7b-ub;v 7ubm] |_; ;-u -m7 |_;
future developments of the Company is contained in
|_; bm-m1b-!;b;-];v|o-m7-m-];l;m|
!;b; o= r;u-omv r-];v |o o= |_bv mm-
!;rou| $_; 7b|;7 bm-m1b- "|-|;l;m|v -u; ]b;m om

r-];v |o o= |_; mm- !;rou| $_;v; u;rou|v
|o];|_;uu;Y;1||_;v|-|;o=-@-buvo=|_;olr-m-m7
b|vv0vb7b-ub;v7ubm]|_;r;ubo7m7;uu;b;
Financial Statements
The Financial Statements of the Company and the Group
-u;]b;momr-];v|o
7b|ouv!;rou|
The Auditors Report on the Financial Statements of the
olr-m-m7|_;uorbv]b;momr-];
11omm]ob1b;v
$_; "b]mbC1-m| -11omm] rob1b;v -7or|;7 bm |_;
ru;r-u-om o= |_; bm-m1b- "|-|;l;m|v -u; ]b;m om
r-];v|o
$_; Cm-m1b- v|-|;l;m|v o= |_; olr-m _-; 0;;m
ru;r-u;7 bm -11ou7-m1; b|_ "ub -mh- 11omm]
"|-m7-u7v" !""-vbvv;70"ub-mh-
uor$umo;u
$_;|umo;uo=|_;uor7ubm]|_;;-um7;uu;b;
-v !v !v
7;|-b;7 -m-vbv o= |_; uorv |umo;u ruoC|v -m7
-vv;|-o1-omu;-m]|o|_;7b@;u;m|v;]l;m|vo=|_;
0vbm;vvbv]b;mbmo|;|o|_; bm-m1b-"|-|;l;m|v
bm-m1b-!;v|v-m7 bb7;m7
$_; uor u;1ou7;7 - 1omvob7-|;7 m;| ruoC| o= !v
!v =ou |_;
;-u$_;omvob7-|;7m1ol;"|-|;l;m|-om]b|_|_;
olr-mv m1ol; "|-|;l;m| =ou |_; ;-u bv ]b;m om
r-];
$_; bu;1|ouv u;1oll;m7;7 |_; r-l;m| o= - Cuv| -m7
Cm- 7bb7;m7 o= !v r;u v_-u; -m7 - v;1om7 Cm-
7bb7;m7 o= !v r;u v_-u; =ou |_; Cm-m1b- ;-u
53
;m7;7 v| ;1;l0;u _b1_ -v -rruo;7 0

|_; v_-u;_o7;uv -| |_; mm- ;m;u- ;;m] o= |_;
olr-m_;7om|_-
m7;u|-h;m 0 |_; _-u|;u;7 (--om "u;;u bm

;1;l0;u $_; bu;1|ouv -u; o= |_; orbmbom |_-|
|_;-;bvmo|bm;1;vvo=|_;1uu;m|l-uh;|-;$_;
7;|-bv-u;ruob7;7bmo|;|o|_; bm-m1b-"|-|;l;m|v
$_;7bb7;m7-vr-b7o|o=|-=u;;ruoC|v-v;;lr|
=uol|-bm|;ulvo=|_;1om1;vvbomv]u-m|;7|o|_;
olr-m
Investments
| |_; l;;m] o= |_; o-u7 o= bu;1|ouv _;7 om |_
February 2016, the Directors recommended the payment
o=-Cuv|-m7Cm-7bb7;m7o=!vr;uou7bm-uv_-u;
=ou |_; Cm-m1b- ;-u ;m7;7 v| ;1;l0;u |o
be approved by the Shareholder at the Annual General
;;m]o=|_;olr-m|o0;_;7om|_rub
"|-|;7-rb|--m7!;v;u;v
bu;1|ouv _-; 1omCul;7 |_-| |_; olr-m v-vC;7

|_; "o;m1 |;v| u;tbu;l;m| m7;u v;1om o= |_;
olr-mb;v1|oo=-m7|_;vo;m1u;rou|
-vo0|-bm;7=uol|_;-7b|ouv
uor;u|-m|tbrl;m|
-rb|-;r;m7b|u;7ubm]|_;;-uomruor;u|r-m|
equipment by the Group and by the Company amounted
|o!v!v-m7!v
!vu;vr;1;$_;
1-uubm]-;o=|_;uor;u|-m|-m7tbrl;m|o=|_;
uor-m7|_;olr-m-v-||_;u;roum]7-|;-lom|;7
|o!v!v-m7
!v!vu;vr;1;
m -m-vbv o= |_; ruor;u| r-m| ;tbrl;m| o= |_;
olr-m-77bom-m77bvrov-l-7;|o];|_;ub|_|_;
7;ru;1b-om1_-u];=ou|_;;-ubvv;|o|bmo|;|o
|_; bm-m1b-"|-|;l;m|vomr-];
-uh;|(-;o=|_;b7bm]
|_; 0b7bm]v om;7 0 |_; uor ;u; v0f;1|;7
|o - u;--om 0 -m bm7;r;m7;m| t-bC;7 -;u
$_; 1-uubm] -; o= |_; 0b7bm] o= |_; uor bv !v
!v $_; 7;|-bv
-u;ruob7;7bmo|;|o|_; bm-m1b-"|-|;l;m|v
-bu(-;o=m;v|l;m|uor;u;v
$_; =-bu -; o= m;v|l;m| ruor;u;v om;7 0 |_;
Group as at 31st December 2015 is included in the
bm-m1b-"|-|;l;m|v-|!v!v
0-v;7om|_;m7;r;m7;m|--omv
The details of investments held by the Company are

7bv1ov;7bmo|;omr-];o=|_; bm-m1b-"|-|;l;m|v
The total stated capital of the Company amounts to

!v !v
1olrubvbm]!v!v-v
]b;mbmmo|;|o|_; bm-m1b-"|-|;l;m|v
The shareholders of Overseas Realty Ceylon PLC approved
|obvv;u7bm-u"_-u;vbm|_;ruorouomo=
one (1) Ordinary Share for every nineteen (19) Ordinary
"_-u;vbm|_;1-rb|-o=|_;olr-m0-o=-!b]_|v
vv;-|-rub1;o=!r;;v$;m|$o!vr;uv_-u;
$o|-uor!;v;u;v-v-|v| ;1;l0;u-v!v
!v $_;
lo;l;m|o=|_;v;u;v;u;vbvv_ombm|_;"|-|;l;m|o=
_-m];vbmtb|bm|_; bm-m1b-"|-|;l;m|vomr-];
lro;;"_-u;rom"1_;l;
||_;|u-ou7bm-u;m;u-;;m]o=|_;olr-m_;7
om|_-|_;;v|-0bv_l;m|-m7blr;l;m|-om
o= -m ;lro;; v_-u; orom r-m " |o bvv; |o
|_; ;;1; 7bu;1|ouv -m7 ;;1;v ;lro;7 0
the Company and its subsidiaries, as may be decided by
|_; o-u7 -v -rruo;7 " _b1_ b ;m|; v1_
;lro;;v -m7 ;1; bu;1|ouv |o v0v1ub0; |o -m7
ru1_-v; v_-u;v o@;u;7 0 |_; olr-m |o|-bm] |o
-lomm]|oo=|_;bvv;7v_-u;vbm|_;
olr-m |_; romv -| -m ;;u1bv; rub1; 0;bm] |_;
l-uh;|rub1;o=|_;v_-u;vo=|_;olr-m-||_;l;o=
]u-mm] o= |_; rom ou |_;ol;;b]_|;7 -;u-];
price of the shares of the Company thirty (30) days prior to
|_;]u-m|o=|_;rom_b1_;;ubv_b]_;u-v-rruo;7
-||_;_;7om|_-
$_;rom-vmo|]u-m|;7|o-m1-|;]ouo=;lro;;v
o=|_;olr-m7ubm]|_;Cm-m1b-;-um7;uu;b;
54
INSPIRING
GENERATIONS

o-u7o= bu;1|ouv
7b|ollb;;
$_;o-u7o= bu;1|ouvo=|_;olr-m1omvbv|vo=;;;m
bu;1|ouv -v -| |_; ;m7 o= |_; Cm-m1b- ;-u -m7 |_;bu
ruoC;v-u;omr-];v|o
fb|-_;m7u- ;"b---u-|m;_-bul-m
$_;0-vbvom_b1_ bu;1|ouv-u;1-vvbC;7-vbm7;r;m7;m|
om;1; bu;1|ouv bv 7bv1vv;7 bm |_; ourou-|;
o;um-m1;!;rou|
!o_bmb;--m--hh-u-
umbm]m]u;u;v0uo|-ombm|;ulvo=u1;
o= |_;u1; o=vvo1b-om o= |_; 1olr-m -m7 0;bm]
;b]b0;_-vo@;u;7_blv;==ouu;;;1om
$_;ruorov;7u;voomvruorov;v|_-||_;-];blb|o=
;-uvu;=;uu;7|obm";1omo=|_;olr-mb;v1|
oo=v_-mo|-rr|ou"_bm];;$-o_o
--bm;7|_;-];o=;-uvom|_ ;1;l0;uu
vv-bm,0bu;-vvbl_o--bm;7|_;-];o=;-uv
om|_";r|;l0;uuv!o_bmb;--m--hh-u-
_o--bm;7|_;-];o=;-uvom|_rubu
fb| -_;m7uv ; "b---u-|m;_o --bm;7 |_; -];
o= ;-uv om |_ rub u +-r o_ bm _o
--bm;7|_;-];o=;-uvomm7 ;0u-uu
$bvv-l-u--m7-u-m--h;_o--bm;7|_;-];o=
;-uvomu7-m-uu;v;b!-r_ ;-m;uo;
_o --bm;7 |_; -]; o= ;-uv om |_-m-u
-m7|_-||_;0;u;;;1|;7-v- bu;1|ouo=|_;olr-m
o-u7"0ollb;;v
$_;o-u7o= bu;1|ouvo=|_;olr-m_-v=oul;7|_;
=oobm] v0 1ollb;;v -m7 =oobm] l;l0;uv v;u;
om |_; o-u7 "0 ollb;;v ;|-bv o= o-u7 "0
ollb;; l;;m]v !;lm;u-om ollb;; 7b|
ollb;;-u;ru;v;m|;7omr-];v
vv;bm,0bu;-vvbl
;bm+-ro_bm
$bvv-l-u--m7-u-m--h;
!;lm;u-omollb;;
vv;bm,0bu;-vvbl_-bul-m
fb|-_;m7u- ;"b---u-|m;
!o_bmb;--m--hh-umbm]m]
$bvv-l-u--m7-u-m--h;
Interest Register
$_; olr-m l-bm|-bmv -m m|;u;v| !;]bv|;u -v r;u |_;
olr-mb;v 1| o o= $_; bu;1|ouv o= |_;
olr-m_-;77;1-u;7|_;bm=oul-om-vruob7;7
=ou bm v;1om o= |_; olr-mb;v 1| o o=
-m7 |_; 7;1-u-omv l-7; ;u; |-0;7 =ou |_;
bm=oul-om o= |_; bu;1|ouv -m7 |_; ;m|ub;v bm |_;
m|;u;v|!;]bv|;u;u;l-7;-m7our7-|;7-11ou7bm]
$_;m|;u;v|!;]bv|;ubvh;r|-||_;u;]bv|;u;7oL1;o=|_;
olr-m
bu;1|ouvm|;u;v|bm"_-u;v
$_;"_-u;_o7bm]vo=|_; bu;1|ouvo=|_;olr-m-||_;
0;]bmmbm]-m7-||_;;m7o=|_;;-u-v-v=oov
55
31st December 2014

-l;o= bu;1|ou
Direct
Interest
Deemed
Interest
31st December 2015

Direct
Interest
Deemed
interest
u"$-o
Nil
695,096,518*
Nil
732,335,424*
uvb7u;7$-om]
Nil
474,940,030*
Nil
500,384,334*
u;bm+-ro_bm
Nil
474,940,030*
Nil
500,384,334*
380,000
Nil
400,000
Nil
umbm]m]
u,-vvbl
Nil
Nil
Nil
Nil
u ;"--u-|m;
Nil
Nil
Nil
Nil
u!7;-m;uo;
Nil
Nil
Nil
Nil
uv!-m--hh-u-
Nil
Nil
Nil
Nil
u$-m7-u-m--h;
Nil
Nil
Nil
Nil
Dr Ranee Jayamaha
Nil
Nil
Nil
Nil
uu-bu"-l-u-vbm]_;
Nil
Nil
Nil
Nil
$_;7;;l;7bm|;u;v|vbmv_-u;v-v7;1-u;70u"$-obv-v-7bu;1|ouo="_bm]-muorbm17bm]&mb|b7;uvblb|;7-m7uvb7u;7
$-om]bv-v-7bu;1|ouo=|_;"_bm]-muoro="bm]-rou;_o_o7vl-foub|v_-u;_o7bm]vo=|_;olr-mu;bm+-ro_bmv7;;l;7
bm|;u;v|bmv_-u;vbv7;1-u;7-v|_;vrov;o=-7bu;1|ouo=|_;v-b7"_bm]-muor
!;-|;7-u|$u-mv-1omv
bu;1|ouv_br_;7bm|_;um;v
$_;7bv1ovu;vl-7;0|_;7bu;1|ouvo=|_;uorb|_
u;]-u7|ou;-|;7r-u||u-mv-1omv-u;]b;mbmmo|;
|o |_; bm-m1b- "|-|;l;m|v =oulbm] r-u| o= |_; mm-
!;rou|o=|_;o-u7o= bu;1|ouv
bu;1|ouv _-; l-7; - ];m;u- 7bv1ovu; o= |_;bu

7bu;1|ouv_brv-m7rovbomv_;7bmo|_;u;m;v-m7|_;
m|;u;v|!;]bv|;u_-v0;;m-11ou7bm]r7-|;7
Insurance and Indemnity

bu;1|ouvm|;u;v|bm$u-mv-1omv
$_; bu;1|ouv o= |_; olr-m _-; l-7; - ];m;u-
7bv1ovu; bm |;ulv o= v;1om o= |_; olr-mb;v
1|oo=$_;r-u1-uvo=|_ov;|u-mv-1omv
-u;v;|o|omr-];v|oo=|_;mm-!;rou|
The Company has obtained an indemnity and insurance

rob1 =uol b-m mvu-m1; -mh- blb|;7 =ou b|v
bu;1|ouv-m7L1;uv-lomm]|o&"bbom=ou|_;
r;ubo71o;ubm]v|-m-u|ov| ;1;l0;u
Internal Controls
bu;1|ouv!;lm;u-om
bu;1|ouvu;lm;u-ombmu;vr;1|o=|_;olr-m-m7
|_; uor =ou |_; Cm-m1b- ;-u ;m7;7 v| ;1;l0;u
bv]b;mbm|_;o|;|o|_; bm-m1b-"|-|;l;m|v
omr-];
om-omv
om-omv l-7; 0 |_; uor -lom|;7 |o !v
!v_b1_bm17;v-vl
o= !v b l-7; |o o;uml;m|
-rruo;71_-ub;v
$_; o-u7 ;mvu;v |_-| |_;u; bv -m ;@;1; -m7

1olru;_;mvb; ruo1;vv =ou b7;m=bm] ;--m] -m7
l-m-]bm] -m vb]mbC1-m| ubvhv =-1;7 0 |_; olr-m
1olrb-m1; 1om|uov -m7 ubvh l-m-];l;m| |o v-=;]-u7
|_;-vv;|v$_;o-u7r-1;v;lr_-vbvbm-vvubm]ruor;u
-11omm] u;1ou7v -u; l-bm|-bm;7 -m7 |_; u;b-0bb|
o= Cm-m1b- bm=oul-om $_; 7b| ollb;; o= |_;
olr-mu;1;b;v|_;u;rou|vo=|_;bm|;um--7b|u;b;v
lomb|ouv|_;;@;1;m;vvo=bm|;um-1om|uovv|;lvo=
|_;olr-m-m7l-h;vr;ubo7b1-u;1oll;m7-omv|o
|_;o-u7
56
INSPIRING
GENERATIONS

$_; bu;1|ouv"|-|;l;m|omm|;um-om|uovomr-];
]b;v=u|_;u7;|-bv
ourou-|;o;um-m1;
$_;o-u7r-1;v;lr_-vbvbmbmv|m]-m7l-bm|-bmbm]
]oo7 ]o;um-m1; ru-11;v -m7 rubm1br;v $_;u;=ou;
|_;l-m-];l;m|-m7or;u-omo=|_;olr-m-m7b|v
v0vb7b-ub;v-u;;@;1;7bu;1|;7-m71om|uo;7b|_bm
|_;ourou-|;o;um-m1;=u-l;ouh-vv;|o|bmr-];v
|obm|_bv!;rou|
Shareholdings
$_;u;;u;u;]bv|;u;7v_-u;_o7;uv
o= ou7bm-u v_-u;v -v -| v| ;1;l0;u $_;
7bv|ub0omo=v_-u;_o7bm]vbv]b;momr-];o=|_bv
!;rou|
"_-u;_o7;um=oul-om
m=oul-om u;-m] |o ;-umbm]v 7bb7;m7v m;| -vv;|v
l-uh;| -; r;u v_-u; -m7 v_-u; |u-7bm] bv ]b;m om
r-];v-m7bm|_; bm-m1b-!;b;v;1omo=|_bv
!;rou|
Major Shareholders
$_; |;m| -u];v| v_-u;_o7;uv o= |_; olr-m -v -|
v| ;1;l0;u |o];|_;u b|_ -m -m-vbv o= |_;
v_-u;_o7bm]v-u;]b;momr-];o=|_bv!;rou|
bu;1|ouv!;vromvb0bb|=ou bm-m1b-!;roum]
$_; bu;1|ouv -u; u;vromvb0; =ou |_; ru;r-u-om o=
bm-m1b- "|-|;l;m|v o= |_; olr-m |o u;Y;1| - |u;
-m7=-bub;o=|_;v|-|;o=-@-buvo=|_;olr-m$_;
bu;1|ouv-u;o=|_;b;|_-||_;v; bm-m1b-"|-|;l;m|v
_-;0;;mru;r-u;7bm1om=oulb|b|_|_;u;tbu;l;m|v
o=|_;"ub-mh-11omm]"|-m7-u7v" !"""ub
-mh-11omm] -m77bm] "|-m7-u7v1| o o=
1995, Companies Act No 07 of 2007, Inland Revenue Act
oo=-m7-l;m7l;m|v|_;u;|o-m7|_;bvm]
!;vo=|_;ool0o"|o1h1_-m];$_;"|-|;l;m|o=
bu;1|ouv !;vromvb0bb| =ou bm-m1b- !;roum] bv ]b;m
omr-];-m7=oulv-mbm|;]u-r-u|o=|_bvu;rou|
olrb-m1;b|_-v-m7!;]-omv
$_; bu;1|ouv|o|_;0;v|o=|_;buhmo;7];-m70;b;=
1omCul |_-| |_; olr-m _-v mo| ;m]-];7 bm -m
-1b;v 1om|u-;mbm] |_; -v -m7 !;]-omv o= |_;
1om|u
Statutory Payments
$_; bu;1|ouv |o |_; 0;v| o= |_;bu hmo;7]; -m7 0;b;=
-u; v-vC;7 |_-| - v|-||ou r-l;m|v 7; |o |_;
]o;uml;m|-m7bmu;-om|o|_;;lro;;v_-;0;;m
l-7;bm=-m7oml;
;m|v-[;u"|-|;l;m|o= bm-m1b-ovbom -|;

There have not been any material events that have
occurred subsequent to the date of the Statement of
bm-m1b-ovbom|_-|u;tbu;-7fv|l;m|v|o|_; bm-m1b-
Statements, other than those disclosed in Note 30 to the
bm-m1b-"|-|;l;m|v
Going Concern
$_;o-u7o= bu;1|ouvbvv-vC;7|_-||_;olr-m-m7
b|v v0vb7b-ub;v _-; -7;t-|; u;vou1;v |o 1omm; b|v
or;u-omv bm |_; =ou;v;;-0; =|u; 11ou7bm] |_;
bm-m1b-"|-|;l;m|v-u;ru;r-u;7om|_;]obm]1om1;um
1om1;r|
Auditors
$_; 7b| ollb;; u;b;v |_; -rrobm|l;m| o=
|_; 7b|ouv |_;bu ;@;1;m;vv bm7;r;m7;m1; -m7
u;-omv_brb|_|_;olr-m-m7b|vuorm-11ou7-m1;
b|_ |_; olr-mb;v 1| o o= - u;voom
ruorovbm]|_;u;-rrobm|l;m|o=;vvuvumv|+om]
_-u|;u;711om|-m|v-v7b|ouv|o|_;olr-mb
0;v0lb;7-||_;mm-;m;u-;;m]
$_;7b|ouv!;rou|bv=om7bm|_; bm-m1b-m=oul-om
v;1omo=|_;mm-!;rou|
$_; 7b|ouv ;vvuv umv| +om] _-u|;u;7
11om|-m|v ;u; r-b7 !v !v
-m7!v!v
m -v -7b| =;;v 0 |_; olr-m -m7 |_; uor
u;vr;1; m -77bom |_; ;u; r-b7 !v
!v -m7 !v
!v 0 |_; olr-m -m7 |_; uor =ou
r;ulb;7mom-7b|u;-|;7v;ub1;v
$_;7b|ouv_-;1omCul;7|_-||_;7omo|_-;-m
u;-omv_brb|_ ou bm|;u;v| bm |_; olr-m o|_;u |_-m
|_ov;7bv1ov;7-0o;
mm-;m;u-;;m]
$_;mm- ;m;u- ;;m] b 0; _;7 om |_rub
-|rl-||_;-;o1hb|0ov;o
-;o1h !o-7 ool0o $_; o1; o= |_;
mm- ;m;u- ;;m] -rr;-uv om r-]; o= |_;
mm-!;rou|
ou-m7om0;_-=o=|_;o-u7
H. Z. Cassim
Ajith M. de S. Jayaratne
Director
Director
bmoh-"-l-u-m--h;
Company Secretary
25th February 2016
57
58
INSPIRING
GENERATIONS
Directors, Statement on Internal Controls
$_;=oobm]v|-|;l;m|=Cv|_;u;tbu;l;m||or0bv_
the Directors Statement on Internal Control as per the
o7; o= ;v| u-11; om ourou-|; o;um-m1; bvv;7
0"ub-mh--m7";1ub;v-m71_-m];ollbvvbom
o="ub-mh-
$_; o-u7 o= bu;1|ouv bv u;vromvb0; =ou l-bm|-bmbm]
- vom7 vv|;l o= bm|;um- 1om|uov |o v-=;]-u7
"_-u;_o7;uvm;v|l;m|v-m7|_;olr-mvvv;|v$_;
o-u7_-v;v|-0bv_;7-mom]obm]ruo1;vv=oub7;m=bm]
;--m]-m7l-m-]bm]|_;vb]mbC1-m|ubvhv=-1;70|_;
olr-m-m7|_;uor$_bvruo1;vvbm17;v;m_-m1bm]
|_; vv|;l o= bm|;um- 1om|uov -v -m7 _;m |_;u; -u;
1_-m];v|o0vbm;vv;mbuoml;m|ouu;]-|ou]b7;bm;v
$_;ruo1;vvbvu;]-uu;b;;70|_;o-u7
r-m -rruo;7 0 |_; 7b| ollb;; bm7bm]v

-u;v0lb;7|o|_;7b|ollb;;=ouu;b;-|
|_;bur;ubo7b1l;;m]v
$_;7b|ollb;;u;b;vbm|;um-1om|uobvv;v
b7;mC;7 0 m|;um- 7b|ouv -m7 ;--|;v |_;
-7;t-1-m7;@;1;m;vvo=|_;ubvhl-m-];l;m|
-m7bm|;um-1om|uovv|;lv$_;-vou;b;|_;
bm|;um--7b|=m1omvb|_r-u1-u;lr_-vbvom
|_;v1or;o=-7b|v-m7t-b|o=bm|;um--7b|v
$_;lbm|;vo=|_;7b|ollb;;l;;m]v-u;
|-0;7-||_;o-u7l;;m]v=ou|_;bm=oul-omo=
|_;o-u7om-r;ubo7b10-vbv
m -vv;vvbm] |_; bm|;um- 1om|uo vv|;l o;u

Cm-m1b- u;roum] u;;-m| v;mbou oL1;uv o=
the company collated all procedures and control
|_-| -u; 1omm;1|;7 b|_ vb]mbC1-m| -11om|v
and disclosures of the Financial Statement of
|_; olr-m $_;v; bm |um ;u; o0v;u;7 -m7
checked by the Internal Auditors for suitability of
7;vb]m-m7;@;1;m;vvom-mom]obm]0-vbv
$_; -7orom o= m; "ub -mh- 11omm]

"|-m7-u7v 1olrubvbm] " !" -m7 " bm
ruo1;vv;v |_-| -u; u;tbu;7 |o 1olr b|_ m;
u;tbu;l;m|v o= u;1o]mbom l;-vu;l;m|
ru;v;m|-om-m77bv1ovu;v;u;bm|uo71;7-m7
blr;l;m|;7ommovlomb|oubm]bvbmruo]u;vv
|o;mvu;;@;1;blr;l;m|-omo=|_;u;tbu;7
ruo1;vv;v
$_; 1oll;m|v l-7; 0 |;um- 7b|ouv bm

1omm;1om b|_ |_; bm|;um- 1om|uo vv|;l
7ubm] |_; Cm-m1b- ;-u ;u; |-h;m bm|o
1omvb7;u-om -m7 -rruorub-|; v|;rv _-; 0;;m
|-h;m|ou;1=|_;l
$_;o-u7bvo=|_;b;|_-||_;vv|;lo=bm|;um-1om|uov
in place is sound and adequate to provide reasonable
-vvu-m1; u;]-u7bm] |_; u;b-0bb| o= Cm-m1b- u;roum]
-m7|_;ru;r-u-omo= bm-m1b-"|-|;l;m|v=ou;|;um-
rurov;v -m7 bv bm -11ou7-m1; b|_ u;;-m| -11omm]
rubm1br;v-m7u;]-|ouu;tbu;l;m|v
$_; o-u7 _-v blr;l;m|;7 |_; =oobm] |o o0|-bm
reasonable assurance that proper systems of internal
1om|uov-u;bmr-1;
mv||;7-ubov 1ollb;;v |o -vvbv| |_; o-u7

bm ;mvubm] |_; ;@;1;m;vv o= olr-mv
or;u-omv -m7 |_; or;u-omv -u; bm -11ou7-m1;
b|_|_;1ourou-|;v|u-|;]b;v-m7-mm-07];|
$_; olr-mv bm|;um- -7b| =m1om _-v

0;;m o|vou1;7 |o ;vvuv ub1;-|;u_ov;
oor;uv ) _-u|;u;7 11om|-m|v $_;
m|;um- 7b|ouv 1_;1h =ou 1olrb-m1; b|_
rob1b;v -m7 ruo1;7u;v -m7 |_; ;@;1;m;vv o=
|_; bm|;um- 1om|uo vv|;lv om -m om]obm] 0-vbv
vbm]v-lr;v-m7uo|-om-ruo1;7u;v-m7|_;
_b]_b]_| vb]mbC1-m| Cm7bm]v bm u;vr;1| o= -m
mom1olrb-m1; 7b|v -u; 1-uub;7 o| om -
v0vb7b-ub;vbm-11ou7-m1;b|_|_;-mm--7b|
Conclusion
-v;7 om |_; -0o; ruo1;vv;v |_; o-u7 o= bu;1|ouv
1omCulv |_-| |_; Cm-m1b- u;roum] vv|;l o= |_;
olr-m _-v 0;;m 7;vb]m;7 |o ruob7; u;-vom-0;
-vvu-m1; u;]-u7bm] |_; u;b-0bb| o= Cm-m1b- u;roum]
-m7|_;ru;r-u-omo= bm-m1b-"|-|;l;m|v=ou;|;um-
rurov;v_-;0;;m7om;bm-11ou7-m1;b|_|_;"ub-mh-
11omm]"|-m7-u7v" !""u;tbu;l;m|vo=|_;
olr-mv1|oo=-m7|_;bvm]!;vo=
|_;ool0o"|o1h1_-m];
H. Z. Cassim
Deputy Chairman
Ajith M. de S. Jayaratne
_-bul-m7b|ollb;;
25th February 2016
59
60
INSPIRING
GENERATIONS
Directors Responsibility for Financial Reporting
The Directors of the Company are responsible for the

ru;r-u-om-m7ru;v;m|-omo=|_; bm-m1b-"|-|;l;m|v
|o |_; v_-u;_o7;uv bm -11ou7-m1; b|_ |_; u;;-m|
ruobvbomv o= |_; olr-mb;v 1| o o= -m7
o|_;u v|-||;v _b1_ -u; -rrb1-0; bm ru;r-u-om o=
bm-m1b-"|-|;l;m|v
The consolidated Financial Statements of the Company
-m7b|v"0vb7b-ub;v1olrubv;o=
"|-|;l;m| o= bm-m1b- rovbom -v -| ;1;l0;u
_b1_ru;v;m|-|u;-m7=-bub;o=|_;v|-|;
o=-@-buvo=|_;olr-m-m7b|vv0vb7b-ub;v-v-||_;
;m7o=|_;Cm-m1b-;-u-m7
m1ol; "|-|;l;m|v _b1_ ru;v;m|v - |u; -m7 =-bu
b; o= |_; ruoC| -m7 ovv o= |_; olr-m -m7 b|v
v0vb7b-ub;v=ou|_;Cm-m1b-;-u|_;m;m7;7
11ou7bm] |_; bu;1|ouv 1omCul |_-| |_; bm-m1b-
Statements of the Company and its subsidiaries for the
year ended 31 December 2015 incorporated in this report
_-; 0;;m ru;r-u;7 bm -11ou7-m1; b|_ |_; olr-mb;v
1|oo="ub-mh-11omm]
"|-m7-u7v " !"" bvm] !;v o= |_; ool0o
"|o1h 1_-m]; -m7 ];m;u- -11;r|;7 -11omm]
rob1b;v $_; bu;1|ouv 1omvb7;u |_-| bm ru;r-ubm] |_;
bm-m1b- "|-|;l;m|v ;_b0b|;7 om r-];v |o
|_; _-; -7or|;7 -rruorub-|; -11omm] rob1b;v om -
consistent basis, supported by reasonable and prudent
f7]l;m|v-m7;vl-|;v
The Directors have also taken such steps as are reasonably
or;m|o|_;l|ov-=;]-u7|_;-vv;|vo=|_;olr-m-m7
|oru;;m|-m77;|;1|=u-7v-m7o|_;ubuu;]-ub;vm
|_bvu;]-u7|_; bu;1|ouv_-;bmv||;7-m;@;1;-m7
1olru;_;mvb;vv|;lo=bm|;um-1om|uov1olrubvbm]o=
bm|;um-1_;1hvbm|;um--7b|Cm-m1b--m7o|_;u1om|uov
required to carry on the Companys business in an orderly
l-mm;u -m7 |o v-=;]-u7 b|v -vv;|v -m7 v;1u; -v =-u -v
ru-11-0;|_;-11u-1-m7u;b-0bb|o=|_;u;1ou7v
;vvuv umv| +om] _-u|;u;7 11om|-m|v _-;
1-uub;7o|-m-7b|bm-11ou7-m1;b|_"ub-mh-7bm]
"|-m7-u7v -m7 |_;bu u;rou| bv ]b;m om r-]; o= |_;
mm-!;rou|
$_; bu;1|ouv _-; ruob7;7 |_; 7b|ouv b|_ ;;u
orrou|mb||o1-uuo|-mu;b;v-m7|;v|v|_-||_;
consider appropriate and necessary for the performance
o=|_;buu;vromvb0bb;v
u|_;u -v u;tbu;7 0 ";1om o= |_; olr-mb;v
1| o o= |_; o-u7 o= bu;1|ouv _-;
1omCul;7 |_-| |_; olr-m 0-v;7 om |_; bm=oul-om
--b-0; v-vC;v |_; vo;m1 |;v| bll;7b-|; -[;u
|_; 7bv|ub0om bm -11ou7-m1; b|_ ";1om o= |_;
olr-mb;v 1| o o= -m7 _-v o0|-bm;7 -
1;uC1-|; =uol |_; -7b|ouv rubou |o u;1oll;m7bm] -
Cm-7bb7;m7o=!vr;uv_-u;=ou|_bv;-u_b1_bv
to be approved by the shareholders at the Annual General
;;m]|o0;_;7om|_rub
$_; bu;1|ouv-u;o=|_;b;|_-||_;_-;7bv1_-u];7
|_;buu;vromvb0bb;v-vv;|o|bm|_bvv|-|;l;m|
$_; bu;1|ouv1omCul|o|_;0;v|o=|_;buhmo;7];|_-|
- |-;v ;b;v -m7 Cm-m1b- o0b]-omv o= |_; uor
have been either paid or adequately provided for in the
bm-m1b- "|-|;l;m|v ;1;r| -v vr;1bC;7 bm o|; |o
|_; bm-m1b-"|-|;l;m|v1o;ubm]1omm];m|b-0bb;v
ou-m7om0;_-=o=|_;o-u7
H. Z. Cassim
A. M. de S. Jayaratne
Deputy Chairman
Director
Colombo on this 25th day of February 2016
61
Independent Auditors Report
$$"! !" (!""!$+

+
!;rou|om|_; bm-m1b-"|-|;l;m|v
); _-; -7b|;7 |_; -11olr-mbm] Cm-m1b- v|-|;l;m|v o=
;uv;-v!;-|;om|_;olr-m|_;1omvob7-|;7
Cm-m1b- v|-|;l;m|v o= |_; olr-m -m7 b|v v0vb7b-ub;v
uor _b1_ 1olrubv; |_; v|-|;l;m| o= Cm-m1b- rovbom
-v -| ;1;l0;u -m7 |_; v|-|;l;m| o= ruoC| ou ovv
v|-|;l;m|o=1olru;_;mvb;bm1ol;v|-|;l;m|vo=1_-m];vbm
;tb|-m7v|-|;l;m|1-v_Yov=ou|_;;-u|_;m;m7;7-m7-
vll-uo=vb]mbC1-m|-11omm]rob1b;v-m7o|_;u;r-m-|ou
bm=oul-om
o-u7v!;vromvb0bb|=ou|_; bm-m1b-"|-|;l;m|v
$_;o-u7o= bu;1|ouvo-u7bvu;vromvb0;=ou|_;ru;r-u-om
o= |_;v; Cm-m1b- v|-|;l;m|v |_-| ]b; - |u; -m7 =-bu b; bm
-11ou7-m1;b|_"ub-mh-11omm]"|-m7-u7v-m7=ouv1_
bm|;um-1om|uov-vo-u77;|;ulbm;vbvm;1;vv-u|o;m-0;|_;
ru;r-u-om o= Cm-m1b- v|-|;l;m|v |_-| -u; =u;; =uol l-|;ub-
lbvv|-|;l;m|_;|_;u7;|o=u-7ou;uuou
7b|ouv!;vromvb0bb|
u u;vromvb0bb| bv |o ;ru;vv -m orbmbom om |_;v; Cm-m1b-
v|-|;l;m|v 0-v;7 om ou -7b| ); 1om71|;7 ou -7b| bm
-11ou7-m1;b|_"ub-mh-7bm]"|-m7-u7v$_ov;v|-m7-u7v
u;tbu;|_-|;1olrb|_;|_b1-u;tbu;l;m|v-m7r-m-m7
r;u=oul|_;-7b||oo0|-bmu;-vom-0;-vvu-m1;-0o|_;|_;u
|_;Cm-m1b-v|-|;l;m|v-u;=u;;=uoll-|;ub-lbvv|-|;l;m|
m -7b| bmo;v r;u=oulbm] ruo1;7u;v |o o0|-bm -7b|

;b7;m1; -0o| |_; -lom|v -m7 7bv1ovu;v bm |_; Cm-m1b-
v|-|;l;m|v $_; ruo1;7u;v v;;1|;7 7;r;m7 om |_; -7b|ouv
f7]l;m| bm17bm] |_; -vv;vvl;m| o= |_; ubvhv o= l-|;ub-
lbvv|-|;l;m| o= |_; Cm-m1b- v|-|;l;m|v _;|_;u 7; |o
=u-7 ou ;uuou m l-hbm] |_ov; ubvh -vv;vvl;m|v |_; -7b|ou
1omvb7;uv bm|;um- 1om|uo u;;-m| |o |_; ;m|v ru;r-u-om
o= |_; Cm-m1b- v|-|;l;m|v |_-| ]b; - |u; -m7 =-bu b; bm
ou7;u |o 7;vb]m -7b| ruo1;7u;v |_-| -u; -rruorub-|; bm |_;
1bu1lv|-m1;v0|mo|=ou|_;rurov;o=;ru;vvbm]-morbmbom
om|_;;@;1;m;vvo=|_;;m|vbm|;um-1om|uom-7b|-vo
bm17;v ;--m] |_; -rruorub-|;m;vv o= -11omm] rob1b;v
v;7-m7|_;u;-vom-0;m;vvo=-11omm];vl-|;vl-7;0
|_;o-u7-v;-v;--m]|_;o;u-ru;v;m|-omo=|_;
Cm-m1b-v|-|;l;m|v
);0;b;;|_-||_;-7b|;b7;m1;;_-;o0|-bm;7bvvL1b;m|
-m7-rruorub-|;|oruob7;-0-vbv=ouou-7b|orbmbom
rbmbom
mouorbmbom|_;1omvob7-|;7Cm-m1b-v|-|;l;m|v]b;-|u;
-m7=-bub;o=|_;Cm-m1b-rovbom-v-| ;1;l0;u
-m7o=b|v|_;Cm-m1b-r;u=oul-m1;-m71-v_Yov=ou|_;;-u
|_;m;m7;7bm-11ou7-m1;b|_"ub-mh-11omm]"|-m7-u7v
!;rou|omo|_;u;]--m7u;]-|ouu;tbu;l;m|v
vu;tbu;70";1omo=|_;olr-mb;v1|oo=
;v|-|;|_;=oobm]
- $_;0-vbvo=orbmbomv1or;-m7blb|-omvo=|_;-7b|-u;-v
v|-|;7-0o;
0 mouorbmbom
;_-;o0|-bm;7-|_;bm=oul-om-m7;r-m-omv|_-|
;u;u;tbu;7=ou|_;-7b|-m7-v=-u-v-rr;-uv=uolou
;-lbm-omruor;u-11omm]u;1ou7v_-;0;;mh;r|0
the Company,
|_;Cm-m1b-v|-|;l;m|vo=|_;olr-m]b;-|u;-m7=-bu
b;o=|_;Cm-m1b-rovbom-v-| ;1;l0;u-m7
o=b|vCm-m1b-r;u=oul-m1;-m71-v_Yov=ou|_;;-u|_;m
;m7;7 bm -11ou7-m1;b|_ "ub -mh-11omm] "|-m7-u7v
and
|_; Cm-m1b- v|-|;l;m|v o= |_; olr-m -m7 |_; uor
1olr b|_ |_; u;tbu;l;m|v o= ";1om -m7 o=
|_;olr-mb;v1|oo=
25 February 2016
Colombo
62
INSPIRING
GENERATIONS
Statement of Financial Position

v-| ;1;l0;u
Note
""$"
omuu;m|vv;|v
Investment Property
Property, Plant and Equipment
m|-m]b0;vv;|v
Investments in Subsidiaries
Inventories
;=;uu;7$-vv;|v
uu;m|vv;|v
Inventories
Trade and Other Receivables
lom|v7;=uol!;-|;7-u;v
m1ol;$-!;1o;u-0;
Short Term Investments
Cash and Short Term Deposits
$o|-vv;|v
&$+ $"
tb|ub0|-0;|otb|o7;uvo=
|_;-u;m|
Stated Capital
!;--om!;v;u;
!;|-bm;7-umbm]v
om1om|uobm]m|;u;v|
$o|-tb|
omuu;m|b-0bb;v
m|;u;v|;-ubm]o-mv-m7ouuobm]v
ov|lrol;m|;m;C|b-0bb|
Customer Deposits
;=;uu;7$-b-0bb;v
uu;m|b-0bb;v
Trade and Other Payables
Rental and Customer Deposits
lom|v7;|o!;-|;7-u;v
m1ol;$---0;
Dividends Payable
$o|-b-0bb;v
$o|-tb|-m7b-0bb;v
2015
Rs.
Group
2014
!v
2015
Rs.
Company
2014
!v
5
6

7

8

9
21,404,872,807
1,559,111,409
13,799,438
2,124,582,326
27,170,393
25,129,536,373

21,404,872,807
338,456,150
5,004,574
1,125,010,040
23,613,326
22,896,956,897
11
12

21

424,017,954
1,378,720,419
8,666,291
9,940,543
2,154,735,058
1,170,006,576
5,146,086,841
30,275,623,214

19,230,387
355,457,085
12,058,039
131,163
2,154,735,058
792,836,167
3,334,447,899
26,231,404,796
13

14

10,186,085,405
264,523,391
15,477,908,704
25,928,517,500
1,507,482,118
27,435,999,618

10,186,085,405
264,523,391
14,441,644,747
24,892,253,543
24,892,253,543

95,801,000
21,274,742
117,075,742

95,801,000
8,352,270
104,153,270

20

825,224,075
904,236,270
985,796,951
1,975,033
5,315,525
2,722,547,854
2,839,623,596
30,275,623,214
16
18
9
17
18
19

334,322,674
840,698,153
4,657,631
50,004,000
5,315,525
1,234,997,983
1,339,151,253
26,231,404,796
1;u=|_-||_;v; bm-m1b-"|-|;l;m|v-u;bm1olrb-m1;b|_|_;u;tbu;l;m|vo=|_;olr-mb;v1|oo=
Roschen Perera
uor_b;= bm-m1b-L1;u
$_;o-u7o= bu;1|ouvbvu;vromvb0;=ou|_;ru;r-u-om-m7ru;v;m|-omo=|_;v; bm-m1b-"|-|;l;m|v"b]m;7=ou-m7om0;_-=o=
|_;o-u70
H. Z. Cassim
bu;1|ou
A. M. de S. Jayaratne
bu;1|ou
$_;-11omm]rob1b;v-m7mo|;vomr-];v|_uo]_=oul-mbm|;]u-r-u|o=|_; bm-m1b-"|-|;l;m|v
25 February 2016
Colombo
63
Statement of3URWRU/RVV
Year ended 31 December 2015
Group
2015
2014
2015
2014
Rs.
!v
Rs.
!v
3
1,764,445,362
1,764,445,362
Note
!;m|-!;;m;
Company
Sale of Apartments
4,329,204,511
Other Services
104,065,154
54,040,648
$o|-!;;m;
3
6,197,715,027
1,818,486,010
bu;1|r;u-m]r;mv;v
(481,522,100)
(424,771,995)
Cost of Sales of Apartments
(3,308,320,133)
2,407,872,794
1,393,714,015
5
1,015,557,962
1,015,557,962
(220,841,508)
(152,013,163)
(45,554,839)
3,157,034,409
2,257,258,814
uovvuoC|
Fair Value Gain on Investment Property

7lbmbv|u-omr;mv;v
-uh;m]-m7uoloom-r;mv;v
r;u-m]uoC|
Finance Cost
(32,571,014)
(29,874,649)
Finance Income
187,400,848
177,699,206
Other Income
64,346,923
74,295,453
10,212,200
825,997
23
3,386,423,366
2,480,204,821
(50,487,289)
(45,316,727)
3,335,936,077
2,434,888,094
2,990,698,564
2,957,045,507
40,154,863
378,890,570
3,030,853,427
3,335,936,077
1_-m];-bm
uoC|;=ou;$-
m1ol;$-
uoC|-[;u$-=ou|_;+;-u
ub0|-0;|o
Equity Holders of the Parent

om1om|uobm]m|;u;v|
-umbm]v;u"_-u;-vb1 b|;7
25
bb7;m7;u"_-u;
20
64
INSPIRING
GENERATIONS
Statement of Comprehensive Income

Group
Note
uoC| ou|_;+;-u
Company
2015
2014
2015
2014
Rs.
!v
Rs.
!v
3,335,936,077
2,434,888,094
25,648,180
25,648,180
25,648,180
25,648,180
(8,112,102)
(634,969)
|_;uolru;_;mvb;m1ol;
|;lv|_-|bmo|0;u;1-vvbC;7|o
ruoC|ouovv
!;--omo=b7bm]v
;=;uu;7$-@;1|
1|-ub--bmvovv;vom ;Cm;7
;m;C|-mv
;=;uu;7$-@;1|
|_;uolru;_;mvb;m1ol;=ou|_;
+;-u;|o=$-
$o|-olru;_;mvb;m1ol;=ou|_;
+;-u;|o=$-
16
2,105,955
(6,006,147)
(634,969)
19,642,033
25,013,211
19,642,033
25,013,211
3,355,578,110
2,459,901,305
2,976,687,540
378,890,570
3,355,578,110
ub0|-0;|o
Equity Holders of the Parent
om1om|uobm]m|;u;v|
uoC|=ou|_;+;-u
Other Comprehensive Income for the Year
20
13
976,666,108
--m1;-v-| ;1;l0;u
bb7;m7v-b7omu7bm-u"_-u;v=ou+
$u-mv-1omov|!;-m]|o"_-u;vv;
Issue of Ordinary Shares
19,558,556
"r;u-bm$--b7
25,648,180
264,523,391
--m1;-v-| ;1;l0;u
bb7;m7v-b7omu7bm-u"_-u;v=ou+
10,186,085,405
20
238,875,211
uoC|=ou|_;+;-u
--m1;-v-|-m-u
(1,265,226,539)
10,186,085,405
Note
(1,265,226,539)
25,928,517,500
(47,079,857)
2,990,698,564
27,975,550
976,666,108
(6,556,629)
!;--om
Reserve
!v
15,477,908,704
(47,079,857)
2,990,698,564
1,316,588
(6,556,629)
264,523,391
26,658,963
-
(1,223,052,321)
24,174,882,280
2,957,045,507
19,642,033
$o|-
!v
"|-|;7
-rb|-
!v
(1,223,052,321)
Company
13,749,921,664
2,957,045,507
(6,006,147)
238,875,211
25,648,180
--m1;-v-|-m-u
10,186,085,405
uoC|=ou|_;+;-u
Dividends Paid for Ordinary Shares for
+
20
Subsidiary Dividends Paid for Non
1om|uobm]bm|;u;v|=ou+
--m1;-v-| ;1;l0;u
10,186,085,405
"r;u-bm$--b7
uoC|=ou|_;+;-u
Issue of Ordinary Shares
13
976,666,108
$u-mv-1omov|!;-m]|o"_-u;vv;
Dividends Paid for Ordinary Shares for
+
20
Subsidiary Dividends Paid for Non
1om|uobm]bm|;u;v|=ou+
--m1;-v-| ;1;l0;u
Note
!;|-bm;7
-umbm]v
!v
!;--om
Reserve
!v
"|-|;7
-rb|-
!v
Group
25,013,211
(1,223,052,321)
24,892,253,543
(43,660,263)
2,866,812,249
19,045,332
976,666,108
(6,556,629)
(1,265,226,539)
14,441,644,747
(43,660,263)
2,866,812,249
(513,224)
(6,556,629)
(1,265,226,539)
2,434,888,094
2,434,888,094
(634,969)
23,655,404,559
13,230,443,943
(1,223,052,321)
!v
$o|-
(37,500,000)
(1,265,226,539)
(18,750,000)
27,435,999,618
(49,013,229)
3,030,853,427
31,616,629
976,666,108
(6,556,629)
(1,223,052,321)
25,322,223,828
3,335,936,077
19,642,033
$o|-
tb|
!v
!;|-bm;7
-umbm]v
!v
(37,500,000)
(18,750,000)
1,507,482,118
(1,933,372)
40,154,863
3,641,078
-
1,147,341,548
378,890,570
-
om1om|uobm]
m|;u;v|
!v
65
Statement of Changes In Equity
66
INSPIRING
GENERATIONS
Statement of Cash Flows

Group
Note
2015
Rs.
Company
2014
!v
2015
Rs.
2014
!v
-v_ ov=uolr;u-m]1b;v
uoC|;=ou;$-r;mv;
3,386,423,366
2,480,204,821
11,402,406
7,790,129
7fv|l;m|v=ou
;ru;1b-om_-u];=ou|_;+;-u
;ru;1b-om$u-mv=;uu;7|om;m|oub;v
lou-omo=m|-m]b0;vv;|v

866,333
5,268,799
5,268,799
16
4,421,922
1,959,666
Finance Cost
32,571,014
29,874,649
Finance Income Received
(187,400,848)
(177,699,206)
ov|lrol;m|;m;C|r;mv;
uoC|ovvom bvrov-o=uor;u|-m|-m7tbrl;m|

Fair Value (Gain) on Investment Property

5
(1,015,557,962)
(1,015,557,962)
2,237,995,030
1,331,840,896
16,201,731
39,778,850
m1u;-v; ;1u;-v;bm$u-7;-m7|_;u!;1;b-0;v
69,590,657
(15,469,346)
m1u;-v; ;1u;-v;bm!;m|--m7v|ol;u ;rovb|v
(984,251,474)
117,491,837
m1u;-v; ;1u;-v;bmm;m|oub;v
2,085,642,208
941,737
m1u;-v; ;1u;-v;bm$u-7;-m7|_;u--0;v
(769,089,416)
(52,548,037)
m1u;-v; ;1u;-v;bmlom|v7;|o!;-|;7-u;v
(19,567,306)
(18,416,603)
2,636,521,430
1,403,619,334
r;u-m]uoC|0;=ou;)ouhbm]-rb|-_-m];v
m1u;-v; ;1u;-v;bmlom|v7;=uol!;-|;7-u;v
-v_;m;u-|;7=uolr;u-omv
(61,048,755)
(49,288,774)
(32,571,014)
(29,874,648)
16
(1,399,900)
2,541,501,761
m1ol;$--b7
Finance Cost Paid
;Cm;7;m;C|-mov|v-b7
;|-v_;m;u-|;7=uolr;u-m]1b;v
(947,810)

1,323,508,101
-v_ ov=uolm;vm]1b;v
Proceeds from Sale of Property, Plant and Equipment
1tbvbomo=m|-m]b0;vv;|v
1tbvbomo=uor;u|-m|-m7tbrl;m|
1tbvbomo=m;v|l;m|
(1,334,388)
(1,334,388)
(126,339,415)
(9,688,212)
(840,170,452)
(840,170,452)
108,578,990
98,877,347
(859,265,265)
(752,315,705)
(1,485,604,000)
(50,004,000)
Finance Income Received

;|-v_=uolm;vm]1b;v
-v_ ov=uol bm-m1bm]1b;v
!;r-l;m|o=m|;u;v|;-ubm]o-mv-m7ouuobm]v
Loans Obtained
Dividends Paid
uo1;;7v=uolvv;o="_-u;v!b]_|vvv;

bu;1|r;mv;v!;-|;7|o!b]_|vvv;
;|m1u;-v; ;1u;-v;bm-v_-m7-v_tb-;m|v
(1,239,382,959)
-

;|-v_ o=uol| o bm-m1bm]1b;v
523,500,000
(1,220,632,959)
-

(2,201,486,959)
(1,270,636,958)
(519,250,463)
(699,444,562)
-v_-m7-v_tb-;m|v-||_;;]bmmbm]o=|_;+;-u
21
1,673,964,088
1,492,280,729
-v_-m7-v_tb-;m|v-||_;m7o=|_;+;-u
21
1,154,713,625
792,836,167
67
Notes to the Financial Statements

!!$ !$
;m;u-
;uv;-v !;-| ;om olr-m bv

- 0b1 o|;7 olr-m b|_ blb|;7 b-0bb|
bm1ourou-|;7 -m7 7olb1b;7 bm "ub -mh- $_;
u;]bv|;u;7 oL1; o= |_; olr-m bv o1-|;7 -|
;; -v|$o;u)ou7$u-7; ;m|;u
ool0o _b1_ bv |_; rubm1br- r-1; o= b|v
0vbm;vv
ubm1br-1b;v-m7-|u;o=r;u-omv
ubm] |_; ;-u |_; rubm1br- -1b;v o= |_;

olr-m ;u; ruor;u| ;-vbm] ruor;u|
v;ub1;v
bu;h--rb|--m7ub-|;blb|;7-v0vb7b-u
bv;m]-];7bmru1_-vbm]_bubm]-m7-1tbubm]u;-
;v|-|; ruor;u;v u;- ;v|-|; 7;;orl;m| -m7
ruob7bm]bm=u-v|u1|u;=-1bb;v|o|_;-;o1h
b|7;;orl;m|ruof;1|
bu;h-ol;vub-|;blb|;7-v0v0vb7b-u
bv ;m]-];7 bm 1omv|u1m] -m7 7;;orbm] |_;
Havelock City condominium development and
related infrastructure and is involved in the sale,
;-v; l-m-];l;m| ou -m vblb-u |u-mv-1omv
in respect of the same and any other business
carried on by land investment, land development
-m7u;-;v|-|;1olr-mb;v
!;-| -m-];l;m| ";ub1;v ub-|; blb|;7

- v0vb7b-u bv ;m]-];7 bm ruob7bm] -0v;m|;;
-m7ou7 l-m-];l;m| om 0;_-= o= b|v om;uv
-];m1 v;ub1;v ruob7bm] =-1bb| l-m-];l;m|
v;ub1;v-m7|u-7bm]o=b]_m]voomv
Other subsidiaries of the Company have not been
or;u-om-7ubm]|_;;-u
-u;m|m|-m7&l-|;1om|uobm]r-u|
In the opinion of the Directors, the Companys
r-u;m| ;m| bv |_; "_bm] -m uor
_;-7t-u|;u;7 bm "bm]-rou; -m7 u "_bm] ;;
$-obv|_;l-|;1om|uobm]r-u|
-|;o=|_oub-om=ouvv;
The Financial Statements of Overseas Realty
(Ceylon) PLC for the year ended 31 December
;u; -|_oubv;7 =ou bvv; bm -11ou7-m1;
b|_-u;voomo=|_;o-u7o= bu;1|ouvom
;0u-u
"" !!$

The Consolidated Financial Statements of the
olr-m_-;0;;mru;r-u;7bm-11ou7-m1;b|_
"ub-mh-11omm]"|-m7-u7v1olrubvbm]" !"
-m7"_;u;-[;uu;=;uu;7-v" !"-vbvv;7
0 |_; mv||; o= _-u|;u;711om|-m|v o= "ub
-mh-"ub-mh-
$_; 1omvob7-|;7 Cm-m1b- v|-|;l;m|v _-;

0;;m ru;r-u;7 om - _bv|oub1- 1ov| 0-vbv ;1;r|
=ou bm;v|l;m| ruor;u;v 0b7bm]v 1-vvbC;7
as property, plant and equipment, short term
investments that have been measured at fair
-;
These Financial Statements are presented in Sri
-mh-m!r;;v$_;ru;r-u-om-m7ru;v;m|-om
of these Financial Statements are in compliance
b|_|_;olr-mb;v1|oo=
_-m];vbm11omm]ob1b;v
$_; -11omm] rob1b;v -7or|;7 -u; 1omvbv|;m|

b|_|_ov;o=|_;ru;bov;-u
omvob7-omob1b;v
$_; 1omvob7-|;7 Cm-m1b- v|-|;l;m|v 1olrubv;

|_; Cm-m1b- v|-|;l;m|v o= |_; uor -m7 b|v
v0vb7b-ub;v -v -| |_; u;roum] 7-|; om|uo bv
68
INSPIRING
GENERATIONS

-1_b;;7_;m|_;uorbv;rov;7ou_-vub]_|v
|o-ub-0;u;|umv=uolb|vbmo;l;m|b|_|_;
bm;v|;;-m7_-v|_;-0bb||o-@;1||_ov;u;|umv
|_uo]_b|vro;uo;u|_;bm;v|;;
]uor |u-mv-1omv -m7 7bb7;m7v -u; ;blbm-|;7

bm=
ovv;v b|_bm - v0vb7b-u -u; -ub0|;7 |o |_;

mom1om|uobm] bm|;u;v| ;;m b= |_-| u;v|v bm -
7;C1b|0--m1;
1_-m];bm|_;om;uv_brbm|;u;v|o=-v0vb7b-u
b|_o|-ovvo=1om|uobv-11om|;7=ou-v-m
;tb||u-mv-1om=|_;uorov;v1om|uoo;u
-v0vb7b-ub|
"r;1bC1-|_;uor1om|uov-mbm;v|;;b=-m7
omb=|_;uor_-v
o;u o;u |_; bm;v|;; b; ;bvm] ub]_|v |_-|

]b; b| |_; 1uu;m| -0bb| |o 7bu;1| |_; u;;-m|
-1b;vo=|_;bm;v|;;
rovu; ou ub]_|v |o -ub-0; u;|umv =uol b|v

bmo;l;m|b|_|_;bm;v|;;-m7
;u;1o]mbv;v|_;-vv;|vbm17bm]]oo7b-m7
b-0bb;vo=|_;v0vb7b-u
$_;-0bb||ov;b|vro;uo;u|_;bm;v|;;|o
-@;1|b|vu;|umv
;u;1o]mbv;v |_; 1-uubm] -lom| o= -m mom

1om|uobm]bm|;u;v|v
When the Group has less than a majority of the

om]ouvblb-uub]_|vo=-mbm;v|;;|_;uor
considers all relevant facts and circumstances in
-vv;vvbm]_;|_;ub|_-vro;uo;u-mbm;v|;;
bm17bm]
;u;1o]mbv;v |_; 1l-;

7b@;u;m1;vu;1ou7;7bm;tb|
!;1o]mbv;v |_; =-bu -; o= |_; 1omvb7;u-om

received
$_;1om|u-1|--uu-m];l;m|b|_|_;o|_;uo|;
holders of the investee
!;1o]mbv;v |_; =-bu -; o= -m bm;v|l;m|

retained
!b]_|v-ubvbm]=uolo|_;u1om|u-1|--uu-m];l;m|v
!;1o]mbv;v-mvurvou7;C1b|bmruoC|ouovv
$_; uorv om] ub]_|v -m7 ro|;m- om]

ub]_|v
$_;uoru;-vv;vv;v_;|_;uoumo|b|1om|uov
an investee if facts and circumstances indicate
|_-| |_;u; -u; 1_-m];v |o om; ou lou; o= |_;
|_u;; ;;l;m|v o= 1om|uo omvob7-om o= -
v0vb7b-u0;]bmv_;m|_;uoro0|-bmv1om|uo
o;u |_; v0vb7b-u -m7 1;-v;v_;m |_; uor
ov;v 1om|uo o= |_; v0vb7b-uvv;|v b-0bb;v
bm1ol;-m7;r;mv;vo=-v0vb7b-u-1tbu;7ou
7bvrov;7 o= 7ubm] |_; ;-u -u; bm17;7 bm |_;
statement of comprehensive income from the
7-|; |_; uor ]-bmv 1om|uo m |_; 7-|; |_;
uor1;-v;v|o1om|uo|_;v0vb7b-u
!;1-vvbC;v |_; r-u;m|v v_-u; o= 1olrom;m|v

ru;bov u;1o]mbv;7 bm |_;u olru;_;mvb;
m1ol; |o ruoC| ou ovv ou u;|-bm;7 ;-umbm]v -v
-rruorub-|; -v o7 0; u;tbu;7 b= |_; uor
had directly disposed of the related assets or
b-0bb;v
$_;=oobm]1olr-mb;v_-;0;;m1omvob7-|;7
bu;h--rb|--m7ub-|;blb|;7"0vb7b-u
bu;h-ol;vub-|;blb|;7"0v0vb7b-u
!;-| -m-];l;m| ";ub1;v ub-|; blb|;7

(Subsidiary)
ovrb|-b|
(Subsidiary)
uor;u|-u|ub-|;blb|;7"0vb7b-u
Havelock City (Private) Limited (Sub-Subsidiary)
$_; Cm-m1b- v|-|;l;m|v o= |_; v0vb7b-ub;v -u;

ru;r-u;7 =ou |_; v-l; u;roum] r;ubo7 -v |_;
r-u;m| 1olr-m vbm] 1omvbv|;m| -11omm]
rob1b;v bm|u-]uor 0--m1;v |u-mv-1omv
mu;-bv;7 ]-bmv -m7 ovv;v u;vm] =uol bm|u-
m|;um-om-
|u-mv-om
ub-|;
blb|;7
69
bu;h-
!;vb7;m1b;v
(Sub-subsidiary)
ub-|;
blb|;7
bu;h-uor;u|ub-|;blb|;7"0v0vb7b-u
rouom|_-|bv_;7=ouv;bm|_;ruo71omou
vrro=]oo7vouv;ub1;vou=ou-7lbmbv|u-;
rurov;v=|_;v;rouomv1-m0;vo7v;r-u-|;
ou ;-v;7 o| v;r-u-|; m7;u - Cm-m1; ;-v;
|_; uor -11om|v =ou |_; rouomv v;r-u-|;
= |_; rouomv 1-mmo| 0; vo7 v;r-u-|; |_;
property is accounted for as Investment Property
om b= -m bmvb]mbC1-m| rouom bv _;7 =ou v; bm
|_;ruo71omouvrro=]oo7vouv;ub1;vou
=ou-7lbmbv|u-;rurov;v7]l;m|bv-rrb;7
bm 7;|;ulbmbm] _;|_;u -m1b-u v;ub1;v -u; vo
vb]mbC1-m| |_-| - ruor;u| 7o;v mo| t-b= -v
m;v|l;m| uor;u|$_; uor 1omvb7;uv ;-1_
ruor;u|v;r-u-|;bml-hbm]b|vf7]l;m|
";]l;m|!;roum]
0vbm;vv v;]l;m| bv - ]uor o= -vv;|v -m7

or;u-omv ;m]-];7 bm ruob7bm] ruo71|v ou
services that are subject to risks and returns
|_-| -u; 7b@;u;m| =uol |_ov; o= o|_;u 0vbm;vv
v;]l;m|v$_;rubl-uv;]l;m|u;roum]=oul-|
bv7;|;ulbm;7|o0;-0vbm;vvv;]l;m|
"b]mbC1-m| 11omm] 7]l;m|v vl-|;v

-m7vvlromv
ub1- 7]l;m|v bm rrbm] |_; 11omm]

ob1b;v
m|_;ruo1;vvo=-rrbm]|_;uorv-11omm]
rob1b;v l-m-];l;m| _-v l-7; |_; =oobm]
f7]l;m|v-r-u|=uol|_ov;bmobm];vl-omv
_b1_ _-v |_; lov| vb]mbC1-m| ;@;1| om |_;
-lom|vu;1o]mb;7bm|_; bm-m1b-"|-|;l;m|v
-
-vvbC1-omo=uor;u|
$_; uor 7;|;ulbm;v _;|_;u - ruor;u| bv

1-vvbC;7-vm;v|l;m|uor;u|om;uo11rb;7
ruor;u|oubm;m|oub;vvbm]vb]mbC1-m|f7]l;m|
-v7bv1ov;7bmo|;-m7o|;
m;v|l;m|uor;u|1olrubv;v-m7-m70b7bm]v
_b1_-u;mo|o11rb;7v0v|-m-=ouv;0ou
bm|_;or;u-omvo=|_;uormou=ouv-;bm|_;
ordinary course of business, but are held primarily
|o;-umu;m|-bm1ol;-m71-rb|--rru;1b-om
$_; uor 7;|;ulbm;v _;|_;u - ruor;u|

t-bC;v -v m;v|l;m| uor;u| 0 1omvb7;ubm]
_;|_;u|_;ruor;u|];m;u-|;v1-v_Yov-u];
independently of the other assets held by the
;m|m;uo11rb;7ruor;u;v];m;u-|;1-v_
Yov |_-| -u; -ub0|-0; mo| om |o ruor;u|
0|-vo|oo|_;u-vv;|vv;7bm|_;ruo71omou
vrrruo1;vv
"ol;ruor;u;v1olrubv;-rouom|_-|bv_;7|o
;-umu;m|-vou=ou1-rb|--rru;1b-om-m7-mo|_;u
Inventory comprises property that is held for sale

bm|_;ou7bm-u1ouv;o=0vbm;vvubm1br-|_bv
bv u;vb7;m- ruor;u| |_-| |_; uor 7;;orv
-m7 bm|;m7v |o v; 0;=ou; 7ubm] -m7ou om
1olr;omo=1omv|u1om
0
!;;m;u;1o]mbom=uolv-;o=-r-u|l;m|v
m u;1o]mbbm] u;;m; =uol v-; o= -r-u|l;m|v

l-m-];l;m|-rrb;vf7]l;m|-v1;u|-bmbm]b=|_;
ubvhv -m7 u;-u7v o= om;uv_br _-; r-vv;7 |o
|_; 0;uv m |_bv u;]-u7 l-m-];l;m| vo]_|
ruo=;vvbom-;]--7b1; bm 7;|;ulbmbm] |_;
robm| -| _b1_ ;tb|-0; bm|;u;v| r-vv;v |o
|_; 0;u -m7 -11ou7bm] u;1o]mb;v u;;m;
m7;u |_; r;u1;m|-]; o= 1olr;om l;|_o7 -v
|_; uor 1ommov |u-mv=;uv |o |_; 0;u
vb]mbC1-m| ubvhv -m7 u;-u7v o= om;uv_br o=
|_; ouh bm ruo]u;vv bm b|v 1uu;m| v|-|; -v |_;
1omv|u1omruo]u;vv
1
;=;uu;7$--om
;=;uu;7|--omomm;v|l;m|uor;u|
vr;u|_;"7;=;uu;7|-omm;v|l;m|
Property carried at fair value is required to be
l;-vu;7 vbm] - u;0-0; ru;vlrom |_-|
|_; 1-uubm] -lom| b 0; u;1o;u;7 |_uo]_
v-;
The investment property of the company consists
o= =u;;_o7 -m7 -m7 0b7bm]v )b|_ u;]-u7 |o
|_; 0b7bm] |_; ru;vlrom bv u;0;7 -v
70
INSPIRING
GENERATIONS

the companys business model is to consume

v0v|-m--|_;;1omolb10;m;C|v;l0o7b;7
bm|_;0b7bm]o;ul;u-|_;u|_-m|_o]_v-;
$_;1olrom;m|bmbm;v|l;m|ruor;u|1olrubvbm]
-m7 7o;v mo| 1u;-|; -m |- 1omv;t;m1;v -v
1uu;m|1-rb|-]-bm|-bvmo|-rrb1-0;=ou-m7
v7;v1ub0;7bmo|;|_;1olr-m;mfov
|- ;;lrom v|-|v r |o |_; ;-u -m7
|_;u;-[;u1olr-mb0;|-;70-v;7
omb|v|umo;u11ou7bm]|;lrou-u7b@;u;m1;v
b mo| -ubv; om |_; bm;v|l;m| ruor;u| r |o
|_;;-u
b|_bm-u-m];o=u;-vom-0;=-bu-;;vl-|;v
m l-hbm] v1_ ;vl-|;v |_; uor 1omvb7;uv
bm=oul-om=uol--ub;|o=vou1;vbm17bm]
b
uu;m|rub1;vbm-m-1;l-uh;|=ouruor;u;vo=
7b@;u;m|m-|u;1om7bomouo1-omouv0f;1|
|o7b@;u;m|;-v;ouo|_;u1om|u-1|v-7fv|;7|o
u;Y;1||_ov;7b@;u;m1;v
bb
!;1;m| rub1;v o= vblb-u ruor;u;v bm ;vv -1;

l-uh;|vb|_-7fv|l;m|v|ou;Y;1|-m1_-m];v
bm ;1omolb1 1om7bomv vbm1; |_; 7-|; o= |_;
|u-mv-1omv|_-|o11uu;7-||_ov;rub1;v-m7
bbb
bv1om|;7 1-v_ Yo ruof;1omv 0-v;7 om

u;b-0; ;vl-|;v o= =|u; 1-v_ Yov 7;ub;7
=uol |_; |;ulv o= -m ;bvm] ;-v; -m7 o|_;u
1om|u-1|v -m7 _;u; rovvb0; =uol ;|;um-
evidence such as current market rents for similar
ruor;u;v bm |_; v-l; o1-om -m7 1om7bom
-m7vbm]1-rb|-b-omu-|;v|_-|u;Y;1|1uu;m|
market assessments of the returns and yields, and
m1;u|-bm|bm|_;-lom|-m7lbm]o=|_;1-v_
Yov
0
ubm1br--vvlromv=oul-m-];l;m|v
;vl-omo==-bu-;
m|_;;;m||_;0b7bm]1olrom;m|bvvo7-[;u
|_; ;-u b| b 1u;-|; |- 1omv;t;m1;v
o;;u|_;l-m-];l;m|0;b;;v|_;=-bu-;
o= |_; 0b7bm] 1olrom;m| o= |_; bm;v|l;m|
ruor;u| b mo| 0; l-|;ub- -v - vb]mbC1-m|
ruorouom o= |_; v;= b=; o= |_; 0b7bm] b
_-;0;;m1omvl;70|_;l
-v;7 om |_; -0o; -m-];l;m| 0;b;;v |_-|

7;=;uu;7 |- bm u;vr;1| o= m;v|l;m| uor;u|
bmo|0;l-|;ub-|o|_;Cm-m1b-v|-|;l;m|v
ub1-11omm]vl-|;v-m7vvlromv
$_; h; -vvlromv 1om1;umbm] |_; =|u; -m7

o|_;u h; vou1;v o= ;vl-om o= m1;u|-bm|
-||_;u;roum]7-|;|_-|_-;-vb]mbC1-m|ubvh
o= 1-vbm] l-|;ub- -7fv|l;m|v |o |_; 1-uubm]
-lom|v o= -vv;|v -m7 b-0bb;vb|_bm |_; m;|
Cm-m1b-;-u-u;7bv1vv;70;o$_;u;vr;1;
1-uubm]-lom|vo=-vv;|v-m7b-0bb;v-u;]b;m
bmu;-|;7mo|;v|o|_; bm-m1b-"|-|;l;m|v
= bm=oul-om om 1uu;m| ou u;1;m| rub1;v o=

-vvlromvm7;ubm]|_;7bv1om|;71-v_Yo
-rruo-1_o=m;v|l;m|uor;u;vbvmo|--b-0;
|_; =-bu -;v o= m;v|l;m| uor;u;v -u;
7;|;ulbm;7vbm]7bv1om|;71-v_Yo--om
|;1_mbt;v$_;uorv;v-vvlromv|_-|-u;
l-bm 0-v;7 om l-uh;| 1om7bomv ;bvm] -|
;-1_u;roum]7-|;
-
vl-omo==-bu-;o=m;v|l;m|uor;u;v
$_;uor1-uub;vb|vm;v|l;m|uor;u;v-|=-bu
-;b|_1_-m];vbm=-bu-;v0;bm]u;1o]mbv;7
bm|_;m1ol;"|-|;l;m|$_;uor;m]-];7-m
independent valuer to determine the fair value as
-| ;1;l0;u
$_;
rubm1br-
-vvlromv
m7;ubm]
l-m-];l;m|v;vl-omo==-bu-;-u;|_ov;
u;-|;7 |o |_; =|u; u;m|-v l-bm|;m-m1;
u;tbu;l;m|v-m7-rruorub-|;1-rb|-b-omu-|;v
b;7v-m7ob7v$_;v;--omv-u;u;]-u
compared to actual market yield data and actual
|u-mv-1omv0|_;uor-m7|_ov;u;rou|;70
|_;l-uh;|
The best evidence of fair value is usually the

1uu;m|rub1;bm-m-1;l-uh;|=ouvblb-u;-v;
-m7 o|_;u 1om|u-1|v m |_; -0v;m1; o= v1_
bm=oul-om |_; uor 7;|;ulbm;v |_; -lom|
71
The determined fair value of the Investment

uor;u;v bv lov| v;mvb; |o |_; 1-rb|-b-om
u-|;-m1br-|;7l-bm|;m-m1;1ov|-v;-v|_;
u-|;o=]uo|_bm=|u;u;m|-v-v]b;mbmo|;
$_;u;=ou;l-m-];l;m|_-v1-uub;7o|-v;mvbb|
-m-vbvbmu;-om|o|_;h;-vvlromvv;7bm
-bm] |_; m;v|l;m| uor;u| -v 7bv1ov;7 bm
o|;
1
;=;uu;7$--om
;=;uu;7|--vv;|v-u;u;1o]mbv;7=ou-mv;7
|- ovv;v |o |_; ;|;m| |_-| b| bv ruo0-0; |_-|
|--0; ruoC|b 0; --b-0; -]-bmv|_b1_ |_;
ovv;v 1-m 0; bv;7 "b]mbC1-m| l-m-];l;m|
f7];l;m|bvu;tbu;7|o7;|;ulbm;|_;-lom|o=
7;=;uu;7|-|_-|1-m0;u;1o]mbv;70-v;7rom
|_;bh;lbm]-m7|_;;;vo==|u;|--0;
ruoC|v ou; bm=oul-om u;]-u7bm] 7;=;uu;7 |-
-vv;|vbv]b;mbmo|;-m7
7
vl-omo=;|!;-bv-0;(-;=oum;m|ou
Inventory disclosed in Note 10 is stated at the
o;uo=1ov|-m7m;|u;-bv-0;-;!(!(
bv -vv;vv;7 b|_ u;=;u;m1; |o l-uh;| 1om7bomv
-m7 rub1;v ;bvm] -| |_; u;roum] 7-|; -m7 bm
|_;b]_|o=u;1;m|l-uh;||u-mv-1omv
-rruorub-|; 1-vvbC1-om -m7 7;vb]m-om bm

-11ou7-m1;b|_|_;1om|u-1|-|;ulv;1omolb1
1bu1lv|-m1;v-m7r;um;m|1om7bomv-v-||_;
-1tbvbom 7-|;$_bv bm17;v |_; v;r-u-om o=
;l0;77;7 7;ub-;v bm _ov| 1om|u-1|v 0 |_;
-1tbu;;
=|_;0vbm;vv1ol0bm-ombv-1_b;;7bmv|-];v
|_; -1tbvbom 7-|; =-bu -; o= |_; -1tbu;uv
previously held equity interest in the acquiree is
u;l;-vu;7 |o =-bu -; -| |_; -1tbvbom 7-|;
|_uo]_ruoC|ouovv
m 1omm];m| 1omvb7;u-om |o 0; |u-mv=;uu;7

0|_;-1tbu;ub0;u;1o]mbv;7-|=-bu-;-|
|_;-1tbvbom7-|;"0v;t;m|1_-m];vbm|_;
=-bu-;o=|_;1omm];m|1omvb7;u-om_b1_bv
7;;l;7|o0;-m-vv;|oub-0bb|b0;u;1o]mbv;7
bm-11ou7-m1;b|_";b|_;ubmruoC|ouovv
ou -v - 1_-m]; |o o|_;u 1olru;_;mvb; bm1ol;
= |_; 1omm];m| 1omvb7;u-om bv 1-vvbC;7 -v
;tb| b| b mo| 0; u;l;-vu;7 "0v;t;m|
v;;l;m| bv -11om|;7 =ou b|_bm ;tb| m
bmv|-m1;v _;u; |_; 1omm];m| 1omvb7;u-om
7o;v mo| =- b|_bm |_; v1or; o= " b| bv
l;-vu;7 bm -11ou7-m1; b|_ |_; -rruorub-|;
" !""
oo7b bv bmb- l;-vu;7 -| 1ov| 0;bm] |_;

;1;vv o= |_; -]]u;]-|; o= |_; 1omvb7;u-om
|u-mv=;uu;7-m7|_;-lom|u;1o]mbv;7=oumom
1om|uobm] bm|;u;v| o;u |_; m;| b7;mC-0;
-vv;|v -1tbu;7 -m7 b-0bb;v -vvl;7 = |_bv
1omvb7;u-om bv o;u |_-m |_; =-bu -; o=
the net assets of the subsidiary acquired, the
7b@;u;m1;bvu;1o]mbv;7bmruoC|ouovv
[;u bmb- u;1o]mbom ]oo7b bv l;-vu;7 -|

1ov| ;vv -m -11l-|;7 blr-bul;m| ovv;v
ou |_; rurov; o= blr-bul;m| |;vm] ]oo7b
-1tbu;7 bm - 0vbm;vv 1ol0bm-om bv =uol
|_; -1tbvbom 7-|; -o1-|;7 |o ;-1_ o= |_;
uorv 1-v_];m;u-m] mb|v |_-| -u; ;r;1|;7
|o 0;m;C| =uol |_; 1ol0bm-om buu;vr;1; o=
_;|_;uo|_;u-vv;|voub-0bb;vo=|_;-1tbu;;
-u;-vvb]m;7|o|_ov;mb|v
)_;u;]oo7b=oulvr-u|o=-1-v_];m;u-m]
mb| -m7 r-u| o= |_; or;u-om b|_bm |_-| mb|
"ll-uo="b]mbC1-m|11omm]ob1b;v
vbm;vvol0bm-omv-m7oo7b
vbm;vv 1ol0bm-omv -u; -11om|;7 =ou vbm]

|_;-1tbvboml;|_o7$_;1ov|o=-m-1tbvbom
bvl;-vu;7-v|_;-]]u;]-|;o=|_;1omvb7;u-om
|u-mv=;uu;7l;-vu;7-|-1tbvbom7-|;=-bu-;
-m7 |_; -lom| o= -m mom1om|uobm] bm|;u;v|
bm |_; -1tbu;; ou ;-1_ 0vbm;vv 1ol0bm-om
|_; uor ;;1|v _;|_;u b| l;-vu;v |_; mom
1om|uobm] bm|;u;v| bm |_; -1tbu;; ;b|_;u -|
=-bu -; ou -| |_; ruorouom-|; v_-u; o= |_;
-1tbu;;v b7;mC-0; m;| -vv;|v 1tbvbom
1ov|v bm1uu;7 -u; ;r;mv;7 -m7 bm17;7 bm
-7lbmbv|u-;;r;mv;v
When the Group acquires a business, it assesses
|_; Cm-m1b- -vv;|v -m7 b-0bb;v -vvl;7 =ou
72
INSPIRING
GENERATIONS

bv 7bvrov;7 o= |_; ]oo7b -vvo1b-|;7 b|_ |_;

or;u-om7bvrov;7o=bvbm17;7bm|_;1-uubm]
-lom| o= |_; or;u-om _;m 7;|;ulbmbm] |_;
]-bmouovvom7bvrov-o=|_;or;u-omoo7b
disposed of in this circumstance is measured based
om|_;u;-;-;vo=|_;or;u-om7bvrov;7
o= -m7 |_; rouom o= |_; 1-v_];m;u-m] mb|
u;|-bm;7
$_;;-u|-;;lromr;ubo71oll;m1;7bm
-m7b;m7bm_;u;0bvm;vvbm1ol;
bv;;lr|;7-m7o|_;ubm1ol;bv|--0;-|moul-
u-|;$_;u;-[;uolr-mb0;|-;7-|om
|umo;u=ou-mo|_;u;-uvm
bu;h--rb|--m7ub-|;blb|;7
uv-m| |o |_; -]u;;l;m| b|_ |_; o-u7 o=

m;v|l;m| o= "ub -mh- 7-|;7 |_ rub
bu;h- -rb|- -m7 ub-|; blb|;7
bv ;;lr|;7 =uol bm1ol; |- =ou - r;ubo7 o=
;-uv "1_ ;;lrom r;ubo7 bv u;1hom;7 =uol
|_; ;-u bm _b1_ |_; olr-m 1oll;m1;v |o
l-h; ruoC| ou -m ;-u o= -vv;vvl;m| mo| -|;u
than 2 years from the date of commencement of
1oll;u1b- or;u-omv _b1_;;u bv ;-ub;u -v
l-0;vr;1bC;7bm-1;uC1-|;0
-m7;m7;7bm|_;-v|Cm-m1b-;-u_;u;
0bvm;vvbm1ol;-v;;lr|;7-m7o|_;ubm1ol;
-v|--0;-|moul-u-|;
bu;h-ol;vub-|;blb|;7
uv-m| |o |_; -]u;;l;m| b|_ o-u7 o=

m;v|l;m| o= "ub -mh- 7-|;7 |_
]v| bu;h- ol;v ub-|; blb|;7
bv;;lr|;7=uolm1ol;$-=ou-r;ubo7o=
;-uv "1_ ;;lrom r;ubo7 bv u;1hom;7 =uol
|_; ;-u bm _b1_ |_; olr-m 1oll;m1;v |o
l-h;ruoC|vou-m;-uo=-vv;vvl;m|mo|-|;u
than 2 years from the date of commencement of
1oll;u1b- or;u-omv _b1_;;u bv ;-ub;u -v
l-0;vr;1bC;7bm-1;uC1-|;0
-m7b;m7omm1ol;=uolvou1;v
=-bm] o|vb7;v |_; -rruo;7 0vbm;vv bv
b-0; |o bm1ol; |- -| olr-mb;v bm |_;
]uor o|_;u |_-m vr;1bC;7 -0o; -u; -vo b-0;
=oubm1ol;|--|
;=;uu;7$--om
;=;uu;7bm1ol;|-bvruob7;7vbm]|_;b-0bb|
l;|_o7om|;lrou-u7b@;u;m1;v-||_;u;roum]
7-|;0;|;;m|_;|-0-v;vo=-vv;|v-m7b-0bb;v
ou;b]muu;m1$u-mv-om
The Financial Statements are presented in Sri
-mh-m !r;;v _b1_ bv |_; uorv =m1om-
-m7ru;v;m|-om1uu;m1$u-mv-1omvbm=ou;b]m
1uu;m1b;v-u;bmb-u;1ou7;7-||_;=m1om-
1uu;m1u-|;ubm]-||_;7-|;o=|_;|u-mv-1om
om;|-u -vv;|v -m7 b-0bb;v 7;molbm-|;7
bm =ou;b]m 1uu;m1b;v -u; u;|u-mv-|;7 -| |_;
=m1om-1uu;m1u-|;o=;1_-m];ubm]-||_;
u;roum]7-|;7b@;u;m1;v-u;|-h;m|oruoC|
ou ovv omlom;|-u b|;lv |_-| -u; l;-vu;7
bm |;ulv o= _bv|oub1- 1ov| bm - =ou;b]m 1uu;m1
-u;|u-mv-|;7vbm]|_;;1_-m];u-|;v-v-||_;
7-|;v o= |_; bmb- |u-mv-1omv ;1_-m];
-ub-m1;v-u;1_-u];7|o|_;m1ol;"|-|;l;m|
$--om
uu;m|$-;v
Companies in the Group have entered into
-]u;;l;m|vb|_ |_; o-u7 o= m;v|l;m| o= "ub
-mh--vvr;1bC;70;o"1_-]u;;l;m|v
vr;1b= |_-| |_; v;1omv o= |_; m-m7 !;;m;
1| u;-m] |o |_; blrovbom r-l;m| -m7
u;1o;u o= bm1ol; |- v_o7 mo| -rr |o |_;
u;vr;1;1olr-mb;v-v;r-bm;70;o=ou|_;
vr;1bC;70vbm;vv;v
;uv;-v!;-|;om
uv-m| |o |_; -]u;;l;m| 0;|;;m |_;

olr-m -m7 |_; o-u7 o= m;v|l;m| o= "ub
-mh- |_; olr-m bv ;m|;7 |o - C[;;m;-u
|- ;;lrom r;ubo7 om b|v -11omm] ruoC|v
-m7 bm1ol; 1oll;m1bm] =uol |_; Cuv| ;-u
o= l-hbm] ruoC| $_; olr-m ;m|;u;7 bm|o -
vrr;l;m|-u -]u;;l;m| b|_ |_; o-u7 o=
m;v|l;m|o="ub-mh-om]v|b|_
u;]-u7|o|_;-0o;
73
-m7|_;bu1-uubm]-lom|v=ouCm-m1b-u;roum]
rurov;v
;=;uu;7bm1ol;|-b-0bb;v-u;u;1o]mbv;7=ou
- |--0; |;lrou-u 7b@;u;m1;v ;1;r| _;u;
|_; 7;=;uu;7 bm1ol; |- b-0bb| -ubv;v =uol
|_; bmb- u;1o]mbom o= -m -vv;| ou b-0bb| bm -
|u-mv-1om |_-| bv mo| - 0vbm;vv 1ol0bm-om
-m7-||_;l;o=|_;|u-mv-1om-@;1|vm;b|_;u
|_;-11omm]ruoC|mou|--0;ruoC|ouovv
;=;uu;7bm1ol;|--vv;|v-u;u;1o]mbv;7=ou-
7;710; |;lrou-u 7b@;u;m1;v 1-uu=ou-u7
o=mv;7|--vv;|v-m7mv;7|-ovv;v|o|_;
;|;m||_-|b|bvruo0-0;|_-||--0;ruoC|b0;
--b-0;-]-bmv|_b1_|_;7;710;|;lrou-u
7b@;u;m1;v -m7 |_; 1-uu=ou-u7 o= mv;7
|--vv;|v-m7mv;7|-ovv;v1-m0;bv;7
;1;r| _;u; |_; 7;=;uu;7 bm1ol; |- -vv;|
u;-m] |o |_; 7;710; |;lrou-u 7b@;u;m1;
-ubv;v =uol |_; bmb- u;1o]mbom o= -m -vv;| ou
b-0bb| bm - |u-mv-1om |_-| bv mo| - 0vbm;vv
1ol0bm-om-m7-||_;l;o=|_;|u-mv-1om
-@;1|v m;b|_;u |_; -11omm] ruoC| mou |--0;
ruoC|ouovv-m7
-lom| o= v-;v |- u;1o;u-0; -m7 r--0; bm

u;vr;1| o= |--om -|_oub;v bv bm17;7 -v -
r-u|o=u;1;b-0;v-m7r--0;vbm|_;u;roum]
7-|;
ouuobm]ov|v
ouuobm] 1ov|v 7bu;1| -ub0|-0; |o |_;

-1tbvbom ou 1omv|u1om o= -m -vv;| |_-|
m;1;vv-ub |-h;v - v0v|-m- r;ubo7 o= l; |o
];|u;-7=oub|vbm|;m7;7v;ouv-;-u;1-rb|-b;7
-v r-u| o= |_; 1ov| o= |_; u;vr;1; -vv;|v
o|_;u 0ouuobm] 1ov|v -m7 0ouuobm] 1ov|v
bm1uu;7 -[;u |_; 1olr;om o= |_; m7;ubm]
1omv|u1om-u;;r;mv;7bm|_;r;ubo7bm_b1_
|_; o11u ouuobm] 1ov|v 1omvbv| o= bm|;u;v|
-m7o|_;u1ov|v|_-|-m;m|bm1uvbm1omm;1om
b|_|_;0ouuobm]o==m7v
$_; bm|;u;v| 1-rb|-b;7 bv 1-1-|;7 vbm]

uorv ;b]_|;7 -;u-]; 1ov| o= 0ouuobm]
-[;u -7fvm] =ou 0ouuobm]v -vvo1b-|;7 b|_
vr;1bC1 7;;orl;m|v _;u; 0ouuobm]v -u;
-vvo1b-|;7 b|_ vr;1bC1 7;;orl;m|v )_;u;
0ouuobm]v -u; -vvo1b-|;7 b|_ 7;;orl;m|v
|_; -lom|v 1-rb|-b;7 bv |_; ]uovv bm|;u;v|
bm1uu;7om|_ov;0ouuobm]v;vv-mbm;v|l;m|
bm1ol; -ubvbm] om |_;bu |;lrou-u bm;v|l;m|v
m|;u;v|bv1-rb|-b;7-v=uol|_;1oll;m1;l;m|
o= |_; 7;;orl;m| ouh m 7-|; o= ru-11-
1olr;om$_;1-rb|-b-omo=Cm-m1;1ov|vbv
vvr;m7;7 b= |_;u; -u; ruoom];7 r;ubo7v _;m
7;;orl;m| -1b| bv bm|;uur|;7 m|;u;v| bv
-vo1-rb|-b;7om|_;ru1_-v;1ov|o=-vb|;o=
ruor;u| -1tbu;7 vr;1bC1- =ou 7;;orl;m|
0|om_;u;-1b;vm;1;vv-u|oru;r-u;|_;
-vv;|=ouu;7;;orl;m|v-u;bmruo]u;vv
$_; 1-uubm] -lom| o= 7;=;uu;7 bm1ol; |-

-vv;|vbvu;b;;7-|;-1_0--m1;v_;;|7-|;-m7
u;71;7|o|_;;|;m||_-|b|bvmoom];uruo0-0;
|_-| vL1b;m| |--0; ruoC| b 0; --b-0; |o
-o-our-u|o=|_;7;=;uu;7bm1ol;|--vv;|
|o0;bv;7
;=;uu;7 bm1ol; |- -vv;|v -m7 b-0bb;v -u;

l;-vu;7 -| |_; |- u-|;v |_-| -u; ;r;1|;7 |o
-rr|o|_;;-u_;m|_;-vv;|bvu;-bv;7ou|_;
b-0bb|bvv;;70-v;7om|-u-|;v-m7|--v
|_-|_-;0;;m;m-1|;7ouv0v|-m;;m-1|;7
-||_;u;roum]7-|;
!;;m;!;1o]mbom
"-;v$-
!;;m;v;r;mv;v-m7-vv;|v-u;u;1o]mb;7m;|
o=|_;-lom|o=v-;v|-;1;r|_;u;|_;v-;v
|-bm1uu;7om-ru1_-v;o=-vv;|vouv;ub1;bv
mo| u;1o;u-0; =uol |_; |--om -|_oub;v bm
_b1_1-v;|_;v-;v|-bvu;1o]mb;7-v-r-u|o=
|_;1ov|o=|_;-vv;|our-u|o=|_;;r;mv;b|;lv
as applicable and receivable and payable that are
v|-|;7b|_|_;-lom|o=v-;v|-bm17;7$_;
!;;m; bv u;1o]mb;7 |o |_; ;|;m| |_-| b| bv

ruo0-0; |_-| |_; ;1omolb1 0;m;C|v b Yo
to the Group and the revenue can be reliably
l;-vu;7!;;m;bvl;-vu;7-||_;=-bu-;
o=|_;1omvb7;u-omu;1;b;7ouu;1;b-0;m;|o=
|u-7;7bv1om|v-m7v-;v|-;v-m7-;-77;7
|-
74
INSPIRING
GENERATIONS

-
"-;o=r-u|l;m|v
m|_;1-v;o=v-;o=-r-u|l;m|v|_;]uor_-v
determined that equitable interest in the property
_-v;v|;7bm|_;0;u0;=ou;;]-|;r-vv;v
-m7 |_; ubvhv -m7 u;-u7v o= om;uv_br o= v1_
_-; 0;;m |u-mv=;uu;7 -| |_; l; o= ;m|;ubm]
bm|o "-; -m7 u1_-v; -]u;;l;m| $_;u;=ou;
u;;m; u;1o]mbom =uol v-; o= -r-u|l;m|v
bv 0;]m =uol |_; robm| o= ;m|;ubm] bm |o "-;
-m7 u1_-v; ]u;;l;m| )_;u; |_; ruor;u|
bv m7;u 7;;orl;m| =ou - 1omvb7;u-0; l;
=u-l; -m7 -]u;;l;m| _-v 0;;m u;-1_;7 |o v;
v1_-m-r-u|l;m|_;m1omv|u1omouhv-u;
1olr;|;7 |_; 7bu;1|ouv 1omvb7;u _;|_;u |_;
contract comprises;
1om|u-1||o1omv|u1|-ruor;u|ou
1om|u-1|=ou|_;v-;o=-1olr;|;7
property
)_;u; - 1om|u-1| bv f7];7 |o 0; =ou |_;

1omv|u1omo=-ruor;u|u;;m;bvu;1o]mb;7
vbm] |_; r;u1;m|-]; o= 1olr;om l;|_o7 -v
1omv|u1omo=-r-u|l;m|vruo]u;vv;v$_bvbvbm
bm;b|_|_;7bu;1;o=|_;mv||;o=_-u|;u;7
11om|-m|vo="ub-mh-=ou;m;v;m]-];7bm
|_;bm7v|uo=1omv|u1omo=u;-;v|-|;_b1_
]b;v|_;orom|o7;=;u|_;-rrb1-omo= !
m m; !;;m; "|-m7-u7 b; !"
1olbm]|o;@;1|
Where the contract is for the sale of a completed
ruor;u|u;;m;bvu;1o]mbv;7_;mvb]mbC1-m|
risk and returns have been transferred to the
0;u _b1_ bv moul- om m1om7bom-
;1_-m];1om|u-1|v
b)
Rental Income
!;m|-bm1ol;u;1;b-0;m7;uor;u-m];-v;v
bvu;1o]mbv;7om-v|u-b]_|bm;0-vbvo;u|_;|;ul
o=|_;;-v;;1;r|=ou1omm];m|u;m|-bm1ol;
_b1_bvu;1o]mbv;7_;mb|-ubv;v
$_; ;-v; |;ul bv |_; C;7 r;ubo7 o= |_; ;-v;
|o];|_;u b|_ -m =u|_;u |;ul =ou _b1_ |_;
|;m-m| _-v |_; orom |o 1omm; |_; ;-v;

_;u;-||_;bm1;romo=|_;;-v;|_; bu;1|ouv
-u;u;-vom-01;u|-bm|_-||_;|;m-m|b;;u1bv;
|_-|orom
Premiums received to terminate leases are
u;1o]mbv;7 bm |_; m1ol; "|-|;l;m| _;m |_;
-ubv;
1
!;m7;ubm]o=";ub1;v
!;;m;=uolu;m7;ubm]o=v;ub1;vbvu;1o]mb;7
bm|_;-11omm]r;ubo7bm_b1_|_;v;ub1;v-u;
u;m7;u;7our;u=oul;7
d)
Finance Income
bm-m1; bm1ol; bv u;1o]mb;7 -v |_; bm|;u;v|

-11u;vm;vv1o;1|-0bb|bvbm7o0|
e)
Others
|_;ubm1ol;bvu;1o]mb;7om-m-11u-0-vbv
m|-m]b0;vv;|v
(a)
WTC Membership
;l0;uv_br r-b7 |o )ou7 $u-7; ;m|;uv

vvo1b-om )$ ;l0;uv_br bv v_om -|
_bv|oub1- 1ov| | bv 1omvb7;u;7 |o _-; - Cmb|;
useful life and carried at cost less accumulated
-lou-omlou-ombv1-1-|;7vbm]|_;
v|u-b]_|bm;l;|_o7|o-o1-|;|_;1ov|o;ub|v
;vl-|;7v;=b=;o=;-uv
0
olr|;u"o[-u;
1tbu;7 1olr|;u vo[-u; b1;mv;v -u;

1-rb|-b;7 om |_; 0-vbv o= |_; 1ov|v bm1uu;7 |o
-1tbu; -m7 0ubm] |o v; |_; vr;1bC1 vo[-u;
$_;v; 1ov|v -u; -lou;7 o;u |_;bu ;vl-|;7
v;= b=; o= ;-uv ov|v -vvo1b-|;7 b|_
l-bm|-bmbm] 1olr|;u vo[-u; ruo]u-lv -u;
u;1o]mb;7-v-m;r;mv;-vbm1uu;7
(c)
Goodwill
oo7b bv bmb- l;-vu;7 -| 1ov| oobm]

bmb- u;1o]mbom ]oo7b 1-uub;7 -| 1ov| ;vv
-m-11l-|;7blr-bul;m|ovv;v
75
-bmvouovv;v-ubvbm]=uol7;u;1o]mbomo=-m
bm|-m]b0; -vv;| -u; l;-vu;7 -v |_; 7b@;u;m1;
0;|;;m |_; m;| 7bvrov- ruo1;;7v -m7 |_;
1-uubm]-lom|o=|_;-vv;|-m7-u;u;1o]mb;7
bm |_; m1ol; "|-|;l;m| _;m |_; -vv;| bv 7;
u;1o]mb;7
m;m|ou
)ouhbmuo]u;vv-m7olr;|;7r-u|l;m|v
uor;u| -1tbu;7 ou 0;bm] 1omv|u1|;7 =ou v-;

in the ordinary course of business, rather than
|o0;_;7=ouu;m|-ou1-rb|--rru;1b-om-m7
1olr;|;7 -r-u|l;m|v -u; v_om -v bm;m|oub;v
-m7 l;-vu;7 -| |_; o;u o= 1ov| -m7 m;|
u;-b-0;-;
ov|bm17;v
u;;_o7ub]_|v=ou-m7
lom|vr-b7|o1om|u-1|ouv=ou1omv|u1om
ouuobm] 1ov|v r-mmbm] -m7 7;vb]m 1ov|v

1ov|vo=vb|;ru;r-u-omruor;u||u-mv=;u|-;v
1omv|u1omo;u_;-7v-m7o|_;uu;-|;71ov|v
Consumables and Spares

Consumable and spares are stated at cost,
-11om|;7 vbm] -| -1|- 1ov| om ;b]_|;7
-;u-];0-vbv
-v_-m7"_ou|$;ul ;rovb|v
-v_ -m7 1-v_ ;tb-;m|v -u; 7;Cm;7 -v 1-v_

bm_-m77;l-m77;rovb|v-m7v_ou||;ul_b]_
btb7 bm;v|l;m|v u;-7b 1om;u0; |o hmom
-lom|vo=1-v_-m7v0f;1||obmvb]mbC1-m|ubvh
o=1_-m];vbm-;
ou |_; rurov; o= 1-v_ Yo v|-|;l;m| 1-v_

and cash equivalents consist of cash in hand
-m7 7;rovb|v bm 0-mhv m;| o= o|v|-m7bm] 0-mh
o;u7u-[v m;v|l;m|v b|_ oub]bm- l-|ub;v
of three months or less are also treated as cash
;tb-;m|v
uor;u|-m|-m7tbrl;m|
uor;u|r-m|-m7;tbrl;m|;1;r|=ou0b7bm]v
-u; v|-|;7 -| 1ov| ;17bm] |_; 1ov|v o= 7- |o
7- v;ub1bm] ;vv -11l-|;7 7;ru;1b-om
-m7-11l-|;7blr-bul;m|bm-;"1_1ov|
bm17;v|_;1ov|o=u;r-1bm]r-u|o=|_;ruor;u|
r-m|-m7;tbrl;m|_;m|_-|1ov|bvbm1uu;7b=
|_;u;1o]mbom1ub|;ub--u;l;|
b7bm]v -u; l;-vu;7 -| =-bu -; ;vv

7;ru;1b-om-m7blr-bul;m|1_-u];7v0v;t;m|
|o|_;7-|;o=|_;u;--om
Non refundable commissions paid to sales or

l-uh;m]-];m|vom|_;v-;o=u;-;v|-|;mb|v
-u;;r;mv;7_;mr-b7
;|u;-b-0;-;bv|_;;vl-|;7v;bm]rub1;
in the ordinary course of the business, based on
l-uh;|rub1;v-||_;u;roum]7-|;-m77bv1om|;7
=ou|_;l;-;o=lom;b=l-|;ub-;vv1ov|v
|o 1olr;om -m7 |_; ;vl-|;7 1ov|v o= v-;
$_; 1ov| o= bm;m|ou u;1o]mb;7 bm ruoC| ou
ovvom7bvrov-bv7;|;ulbm;7b|_u;=;u;m1;|o
the costs incurred on the property sold and an
-o1-omo=1ov|v0-v;7om|_;]uovvYoou-u;-
o=|_;ruor;u|7;;or;7
)ouhbmruo]u;vv|_-|bvbm|;m7;7|o0;1olr;|;7
b|_bmom;;-ubv1-vvbC;7-vuu;m|m;m|oub;v
and those that take more than a year to complete
-u;1-vvbC;7-vomuu;m|m;m|oub;v
The assets residual values, useful lives and

l;|_o7 o= 7;ru;1b-om -u; u;b;;7 -m7
-7fv|;7b=-rruorub-|;-|;-v|-|;-1_Cm-m1b-
;-u ;m7 m -vv;|v 1-uubm] -lom| bv ub;m
7om bll;7b-|; |o b|v u;1o;u-0; -lom| b=
b|v1-uubm]-lom|bv]u;-|;u|_-mb|v;vl-|;7
u;1o;u-0;-lom|
(--omv-u;r;u=oul;7b|_vL1b;m|u;]-ub|
to ensure that the fair value of a revalued asset
7o;vmo|7b@;ul-|;ub-=uolb|v1-uubm]-lom|
)_;m -m b|;l o= ruor;u| r-m| ;tbrl;m|

bvu;-;7-m-11l-|;77;ru;1b-om-||_;
7-|; o= |_; --om bv ;blbm-|;7 -]-bmv| |_;
76
INSPIRING
GENERATIONS

]uovv 1-uubm] -lom| o= |_; -vv;| -m7 |_; m;|

amount restated to the revalued amount of the
-vv;|
mu;--omvurvu;-|;7|oruor;u|r-m|
;tbrl;m|bv1u;7b|;7|o|_;u;--omu;v;u;
bm17;7 bm |_; ;tb| v;1om o= |_; v|-|;l;m|
o=Cm-m1b-rovbom;1;r||o|_;;|;m||_-|b|
u;;uv;v-u;--om7;1u;-v;o=|_;v-l;-vv;|
ru;bov u;1o]mb;7 bm ruoC| ou ovv m _b1_
1-v;|_;bm1u;-v;bvu;1o]mb;7bmruoC|ouovv
u;--om7;C1b|bvu;1o]mb;7bmruoC|ouovv
;1;r||_-|-7;C1b|7bu;1|o@v;m]-ru;bov
vurvom|_;v-l;-vv;|bv7bu;1|o@v;|-]-bmv|
|_;vurvbm|_;u;--omu;v;u;
Subsequent Measurement
$_;v0v;t;m|l;-vu;l;m|o=Cm-m1b--vv;|v
7;r;m7vom|_;bu1-vvbC1-om-v=oov
-
bm-m1b- vv;|v -| -bu(-; |_uo]_ uoC| ou

Loss
bm-m1b- -vv;|v -| =-bu -; |_uo]_ ruoC| ou

ovv bm17; Cm-m1b- -vv;|v _;7 =ou |u-7bm]
-m7 Cm-m1b- -vv;|v 7;vb]m-|;7 rom bmb-
u;1o]mbom -| =-bu -; |_uo]_ ruoC| ou ovv
bm-m1b--vv;|v-u;1-vvbC;7-v_;7=ou|u-7bm]
b= |_; -u; -1tbu;7 =ou |_; rurov; o= v;bm]
ou u;ru1_-vbm] bm |_; m;-u |;ul $_bv 1-|;]ou
bm17;v7;ub-;Cm-m1b-bmv|ul;m|v;m|;u;7
bm|o 0 |_; olr-m |_-| -u; mo| 7;vb]m-|;7
-v _;7]bm] bmv|ul;m|v bm _;7]; u;-omv_brv
-v 7;Cm;7 0 " ;ub-;v bm17bm]
v;r-u-|;7;l0;77;77;ub-;v-u;-vo1-vvbC;7
-v_;7=ou|u-7bm]m;vv|_;-u;7;vb]m-|;7-v
;@;1;_;7]bm]bmv|ul;m|v bm-m1b--vv;|v-|
=-bu-;|_uo]_ruoC|-m7ovv-u;1-uub;7bm|_;
v|-|;l;m| o= Cm-m1b- rovbom -| =-bu-;b|_
1_-m];vbm=-bu-;u;1o]mbv;7bmCm-m1;bm1ol;
ouCm-m1;1ov|vbm|_;bm1ol;v|-|;l;m|
$_;uor_-vmo|7;vb]m-|;7-mCm-m1b--vv;|v
rom bmb- u;1o]mbom -v -| =-bu -; |_uo]_
ruoC|ouovv
$_; uor ;--|;v b|v Cm-m1b- -vv;|v _;7

=ou |u-7bm] o|_;u |_-m 7;ub-;v |o 7;|;ulbm;
_;|_;u |_; bm|;mom |o v; |_;l bm |_; m;-u
|;ul bv v -rruorub-|; )_;m |_; olr-m
bv m-0; |o |u-7; |_;v; Cm-m1b- -vv;|v 7; |o
bm-1; l-uh;|v -m7 l-m-];l;m|v bm|;mom |o
v; |_;l bm |_; =ou;v;;-0; =|u; vb]mbC1-m|
1_-m];v |_; olr-m l- ;;1| |o u;1-vvb=
|_;v; Cm-m1b- -vv;|v bm u-u; 1bu1lv|-m1;v
$_; u;1-vvbC1-om |o o-mv -m7 u;1;b-0;v
available-for-sale or held to maturity depends on
|_;m-|u;o=|_;-vv;|$_bv;--om7o;vmo|
-@;1|-mCm-m1b--vv;|v7;vb]m-|;7-|=-bu-;
|_uo]_ruoC|ouovvvbm]|_;=-bu-;orom-|
7;vb]m-om
Gains and losses on disposals are determined by

1olr-ubm] ruo1;;7v b|_ 1-uubm] -lom| -m7
-u;bm17;7bm|_;m1ol;"|-|;l;m|
bm-m1b- mv|ul;m|vmb- !;1o]mbom -m7
"0v;t;m|;-vu;l;m|
2.3.10.1 Financial Assets
$_; uorv Cm-m1b- -vv;|v bm17; 1-v_ -m7

short-term deposits, trade and other receivables,
short term investments and amount due from
u;-|;7r-u;v
mb-!;1o]mbom-m7;-vu;l;m|
bm-m1b--vv;|vb|_bm|_;v1or;o="-u;
1-vvbC;7-vCm-m1b--vv;|v-|=-bu-;|_uo]_
ruoC| ou ovv o-mv -m7 u;1;b-0;v _;7|o
l-|ub| bm;v|l;m|v --b-0;=ouv-; Cm-m1b-
-vv;|v ou -v 7;ub-;v 7;vb]m-|;7 -v _;7]bm]
bmv|ul;m|vbm-m;@;1;_;7];-v-rruorub-|;
$_;olr-m7;|;ulbm;v|_;1-vvbC1-omo=b|v
Cm-m1b--vv;|v-|bmb-u;1o]mbom
Cm-m1b- -vv;|v -u; u;1o]mbv;7 bmb- -|

fair value plus, in the case of assets not at fair
-; |_uo]_ ruoC| ou ovv 7bu;1| -ub0|-0;
|u-mv-1om1ov|v
77
0
o-mv-m7!;1;b-0;v
o-mv-m7u;1;b-0;v-u;mom7;ub-;Cm-m1b-
-vv;|v b|_ C;7 ou 7;|;ulbm-0; r-l;m|v
|_-| -u; mo| to|;7 bm -m -1; l-uh;| [;u
bmb- l;-vu;l;m| v1_ Cm-m1b- -vv;|v -u;
v0v;t;m| l;-vu;7 -| -louv;7 1ov| vbm]
|_; ;@;1; bm|;u;v| u-|; l;|_o7 ! ;vv
blr-bul;m| louv;7 1ov| bv 1-1-|;7 0
|-hbm]bm|o-11om|-m7bv1om|ouru;lblom
-1tbvbom-m7=;;vou1ov|v|_-|-u;-mbm|;]u-
r-u|o=|_;!$_;!-louv-ombvbm17;7
bm Cm-m1; bm1ol; bm |_; bm1ol; v|-|;l;m|$_;
ovv;v-ubvbm]=uolblr-bul;m|-u;u;1o]mbv;7bm
|_;bm1ol;v|-|;l;m|bmCm-m1;1ov|v
;u;1o]mbom
Cm-m1b- -vv;| ou _;u; -rrb1-0; - r-u| o=

-Cm-m1b--vv;|our-u|o=-olr-mo=vblb-u
Cm-m1b--vv;|vbv7;u;1o]mbv;7_;m
$_;ub]_|v|ou;1;b;1-v_Yov=uol|_;
-vv;|_-;;rbu;7
$_; uor _-v |u-mv=;uu;7 b|v ub]_|v |o

u;1;b;1-v_Yov=uol|_;-vv;|ou_-v
-vvl;7-mo0b]-om|or-|_;u;1;b;7
1-v_ Yov bm =b|_o| l-|;ub- 7;-
|o - |_bu7 r-u| m7;u - r-vv|_uo]_
-uu-m];l;m|-m7;b|_;u-|_;olr-m
_-v |u-mv=;uu;7 v0v|-m- - |_; ubvhv
-m7 u;-u7v o= |_; -vv;| ou 0 |_;
Company has neither transferred nor
u;|-bm;7 v0v|-m- - |_; ubvhv -m7
u;-u7vo=|_;-vv;|0|_-v|u-mv=;uu;7
1om|uoo=|_;-vv;|
)_;m|_;uor_-v|u-mv=;uu;7b|vub]_|v
|ou;1;b;1-v_Yov=uol-m-vv;|ou_-v
;m|;u;7bm|o-r-vv|_uo]_-uu-m];l;m|
and has neither transferred nor retained
v0v|-m- - o= |_; ubvhv -m7 u;-u7v
of the asset nor transferred control of it,
|_; -vv;| bv u;1o]mbv;7 |o |_; ;|;m| o=
|_;olr-mv1ommbm]bmo;l;m|bm
b|
m |_-| 1-v; |_; uor -vo u;1o]mbv;v

-m -vvo1b-|;7 b-0bb| $_; |u-mv=;uu;7
asset and the associated liability are
l;-vu;7 om - 0-vbv |_-| u;Y;1|v |_;
ub]_|v-m7o0b]-omv|_-||_;olr-m
_-vu;|-bm;7
ommbm] bmo;l;m| |_-| |-h;v |_;

=oulo=-]-u-m|;;o;u|_;|u-mv=;uu;7
-vv;| bv l;-vu;7 -| |_; o;u o= |_;
oub]bm-1-uubm]-lom|o=|_;-vv;|-m7
|_; l-bll -lom| o= 1omvb7;u-om
that the Group could be required to
u;r-
lr-bul;m|o= bm-m1b-vv;|v
$_; uor -vv;vv;v -| ;-1_ u;roum] 7-|;

_;|_;u |_;u; bv -m o0f;1; ;b7;m1; |_-| -
Cm-m1b- -vv;| ou - ]uor o= Cm-m1b- -vv;|v bv
blr-bu;7Cm-m1b--vv;|ou-]uoro=Cm-m1b-
assets is deemed to be impaired if, and only if,
|_;u; bv o0f;1; ;b7;m1; o= blr-bul;m| -v -
result of one or more events that has occurred
-[;u|_;bmb-u;1o]mbomo=|_;-vv;|-mbm1uu;7
loss event) and that loss event has an impact on
|_; ;vl-|;7 =|u; 1-v_ Yov o= |_; Cm-m1b-
-vv;|ou|_;]uoro=Cm-m1b--vv;|v|_-|1-m0;
u;b-0 ;vl-|;7 b7;m1; o= blr-bul;m| l-
bm17; bm7b1-omv |_-| |_; 7;0|ouv ou - ]uor
o= 7;0|ouv bv ;r;ub;m1bm] vb]mbC1-m| Cm-m1b-
7bL1| 7;=-| ou 7;bmt;m1 bm bm|;u;v| ou
rubm1br-r-l;m|v|_;ruo0-0bb||_-||_;b
;m|;u0-mhur|1ouo|_;uCm-m1b-u;ou]-mbv-om
-m7_;u;o0v;u-0;7-|-bm7b1-|;|_-||_;u;bv-
l;-vu-0;7;1u;-v;bm|_;;vl-|;7=|u;1-v_
Yov v1_ -v 1_-m];v bm -uu;-uv ou ;1omolb1
1om7bomv|_-|1ouu;-|;b|_7;=-|v
bm-m1b-vv;|v1-uub;7-|lou;7ov|
ou Cm-m1b- -vv;|v 1-uub;7 -| -louv;7 1ov|

|_; uor Cuv| -vv;vv;v _;|_;u o0f;1;
;b7;m1; o= blr-bul;m| ;bv|v bm7bb7- =ou
Cm-m1b- -vv;|v |_-| -u; bm7bb7- vb]mbC1-m|
ou 1o;1; =ou Cm-m1b- -vv;|v |_-| -u; mo|
bm7bb7- vb]mbC1-m| = |_; uor 7;|;ulbm;v
|_-| mo o0f;1; ;b7;m1; o= blr-bul;m| ;bv|v
=ou -m bm7bb7- -vv;vv;7 Cm-m1b- -vv;|
78
INSPIRING
GENERATIONS

_;|_;uvb]mbC1-m|oumo|b|bm17;v|_;-vv;|bm
-]uoro=Cm-m1b--vv;|vb|_vblb-u1u;7b|ubvh
1_-u-1|;ubv1v-m71o;1;-vv;vv;v|_;l=ou
blr-bul;m| vv;| |_-| -u; bm7bb7- -vv;vv;7
=oublr-bul;m|-m7=ou_b1_-mblr-bul;m|ovv
bvou1omm;v|o0;u;1o]mbv;7-u;mo|bm17;7
bm-1o;1;-vv;vvl;m|o=blr-bul;m|
=|_;u;bvo0f;1;;b7;m1;|_-|-mblr-bul;m|
loss has been incurred, the amount of the loss
bv l;-vu;7 -v |_; 7b@;u;m1; 0;|;;m |_;
-vv;|v 1-uubm] -lom| -m7 |_; ru;v;m| -;
o= ;vl-|;7 =|u; 1-v_ Yov ;17bm] =|u;
;r;1|;7 1u;7b| ovv;v |_-| _-; mo| ;| 0;;m
bm1uu;7 $_; ru;v;m| -; o= |_; ;vl-|;7
=|u;1-v_Yov-u;7bv1om|;7-||_;Cm-m1b-
-vv;|v oub]bm- ;@;1; bm|;u;v| u-|; = - o-m
has a variable interest rate, the discount rate for
l;-vubm] -m blr-bul;m| ovv bv |_; 1uu;m|
;@;1;bm|;u;v|u-|;
$_; 1-uubm] -lom| o= |_; -vv;| bv u;71;7
|_uo]_ |_; v; o= -m -o-m1; -11om| -m7
|_; -lom| o= |_; ovv bv u;1o]mbv;7 bm |_;
bm1ol; v|-|;l;m| m|;u;v| bm1ol; 1omm;v
|o 0; -11u;7 om |_; u;71;7 1-uubm] -lom|
-m7bv-11u;7vbm]|_;u-|;o=bm|;u;v|v;7|o
7bv1om| |_; =|u; 1-v_ Yov =ou |_; rurov;
o= l;-vubm] |_; blr-bul;m| ovv $_; bm|;u;v|
bm1ol; bv u;1ou7;7 -v r-u| o= Cm-m1; bm1ol;
bm |_; bm1ol; v|-|;l;m| o-mv |o];|_;u b|_
|_; -vvo1b-|;7 -o-m1; -u; ub;m o@ _;m
|_;u; bv mo u;-bv1 ruovr;1| o= =|u; u;1o;u
and all collateral has been realised or has been
|u-mv=;uu;7 |o |_; uor = bm - v0v;t;m|
;-u |_; -lom| o= |_; ;vl-|;7 blr-bul;m|
loss increases or decreases because of an event
o11uubm] -[;u |_; blr-bul;m| -v u;1o]mbv;7
|_; ru;bov u;1o]mbv;7 blr-bul;m| ovv bv
bm1u;-v;7ouu;71;70-7fvm]|_;-o-m1;
-11om| = - =|u; ub|;o@ bv -|;u u;1o;u;7
|_; u;1o;u bv 1u;7b|;7 |o Cm-m1; 1ov|v bm |_;
bm1ol;v|-|;l;m|
2.3.10.2 bm-m1b-b-0bb;v
$_;uorvCm-m1b-b-0bb;vbm17;$u-7;-m7
|_;u --0;v ;v |o !;-|;7 -u;v !;m|-
-m7 v|ol;u ;rovb|v -m7 m|;u;v| ;-ubm]
o-mv-m7ouuobm]v
mb-!;1o]mbom-m7;-vu;l;m|
bm-m1b- b-0bb;v b|_bm |_; v1or; o= "

-u; 1-vvbC;7 -v Cm-m1b- b-0bb;v -| =-bu -;
|_uo]_ ruoC| ou ovv o-mv -m7 0ouuobm]v ou
-v7;ub-;v7;vb]m-|;7-v_;7]bm]bmv|ul;m|v
bm-m;@;1;_;7];-v-rruorub-|;$_;uor
7;|;ulbm;v |_; 1-vvbC1-om o= b|v Cm-m1b-
b-0bb;v-|bmb-u;1o]mbom
Cm-m1b-b-0bb;v-u;u;1o]mbv;7bmb--|=-bu
-; -m7 bm |_; 1-v; o= o-mv -m7 0ouuobm]v
1-uub;7 -| -louv;7 1ov| $_bv bm17;v 7bu;1|
-ub0|-0; |u-mv-1om 1ov|v m 7b@;u;m1;
0;|;;mbmb-=-bu-;-m7|_;molbm--lom|
bv bm17;7 -v - 1olrom;m| o= or;u-m] ;-v;
bm1ol; -m7 u;1o]mb;7 om - v|u-b]_| bm; 0-vbv
o;u|_;-rrb1-0;l;r;ubo7
Subsequent Measurement
$_; l;-vu;l;m| o= Cm-m1b- b-0bb;v 7;r;m7v

om|_;bu1-vvbC1-om-v=oov
Loans and Borrowings
[;u bmb- u;1o]mbom bm|;u;v| 0;-ubm] o-mv

-m7 0ouuobm]v -u; v0v;t;m| l;-vu;7
-| -louv;7 1ov| vbm] |_; ;@;1; bm|;u;v|
u-|; l;|_o7 -bmv -m7 ovv;v -u; u;1o]mbv;7
bm |_; bm1ol; v|-|;l;m|_;m |_; b-0bb;v -u;
7;u;1o]mbv;7 -v ; -v |_uo]_ |_; ;@;1;
bm|;u;v|u-|;l;|_o7!-louv-omruo1;vv
louv;7 1ov| bv 1-1-|;7 0 |-hbm] bm|o

-11om|-m7bv1om|ouru;lblom-1tbvbom
-m7=;;vou1ov|v|_ov;-u;-mbm|;]u-r-u|o=|_;
! $_; ! -louv-om bv bm17;7 bm Cm-m1;
1ov|vbm|_;bm1ol;v|-|;l;m|
;u;1o]mbom
Cm-m1b- b-0bb| bv 7;u;1o]mbv;7 _;m |_;

o0b]-om m7;u |_; b-0bb| bv 7bv1_-u];7 ou
1-m1;;7 ou ;rbu;v )_;m -m ;bvm] Cm-m1b-
liability is replaced by another from the same
;m7;u om v0v|-m- 7b@;u;m| |;ulv ou |_;
|;ulv o= -m ;bvm] b-0bb| -u; v0v|-m-
lo7bC;7 v1_ -m ;1_-m]; ou lo7bC1-om bv
79
|u;-|;7-v-7;u;1o]mbomo=|_;oub]bm-b-0bb|
-m7 |_; u;1o]mbom o= - m; b-0bb| -m7 |_;
7b@;u;m1; bm |_; u;vr;1; 1-uubm] -lom|v bv
u;1o]mbv;7bm|_;bm1ol;v|-|;l;m|
-vv;|v-m7b-0bb;v=ou_b1_=-bu-;
bv l;-vu;7 ou 7bv1ov;7 bm |_; Cm-m1b-
v|-|;l;m|v -u; 1-|;]oubv;7 b|_bm |_;
=-bu-;_b;u-u1_7;v1ub0;7-v=oov
0-v;7 om |_; o;v| ;; bmr| |_-| bv
vb]mbC1-m||o|_;=-bu-;l;-vu;l;m|
-v-_o;
;; o|;7 m-7fv|;7 l-uh;|

rub1;v bm -1; l-uh;|v =ou b7;m1-
-vv;|voub-0bb;v
;;(--om|;1_mbt;v=ou_b1_
|_;o;v|;;bmr||_-|bvvb]mbC1-m||o
the fair value meas-urement is directly or
indirectly observable
;;(--om|;1_mbt;v=ou_b1_
|_; o;v| ;; bmr| |_-| bv vb]mbC1-m|
to the fair value meas-urement is
unobservable for the purpose of fair value
7bv1ovu;v |_; ]uor _-v 7;|;ulbm;7
1-vv;v o= -vv;|v -m7 b-0bb;v om |_;
0-vbv o= |_; m-|u; 1_-u-1|;ubv1v -m7
risks of the asset or liability and the level
o= |_; =-bu -; _b;u-u1_ -v ;r-bm;7
-0o;
ou -vv;|v -m7 b-0bb;v |_-| -u;

u;1o]mbv;7bm|_;Cm-m1b-v|-|;l;m|vom
-u;1uubm]0-vbv|_;uor7;|;ulbm;v
_;|_;u|u-mv=;uv_-;o11uu;70;|;;m
;;v bm |_; _b;u-u1_ 0 u;-vv;vvbm]
1-|;]oub-om0-v;7om|_;o;v|;;
bmr| |_-| bv vb]mbC1-m| |o |_; =-bu -;
l;-vu;l;m| -v - _o; -| |_; ;m7 o=
;-1_u;roum]r;ubo7
$_; -m-];l;m| o= |_; olr-m

determines the policies and procedures
=ou 0o|_ u;1uubm] =-bu -; l;-v
u;l;m| v1_ -v bm;v|l;m| ruor;u;v
and Property, Plant and Equipmentb7bm]v
|;um- -;u u -]-];7-u-

bv bmo;7 bm --om o= vb]mbC1-m|
-vv;|vv1_-vm;v|l;m|ruor;u;v-m7
b7bm]v
2.3.10.3 Fair Value Measurement

-bu-;bv|_;rub1;|_-|o70;u;1;b;7|ov;
an asset or paid to transfer a liability in an orderly
|u-mv-1om 0;|;;m l-uh;| r-u1br-m|v -| |_;
l;-vu;l;m| 7-|; $_; =-bu -; l;-vu;l;m|
bv0-v;7om|_;ru;vlrom|_-||_;|u-mv-1om
to sell the asset or transfer the liability takes place
;b|_;u
m |_; rubm1br- l-uh;| =ou |_; -vv;| ou

liability
Or
m |_; -0v;m1; o= - rubm1br- l-uh;| bm

|_; lov| -7-m|-];ov l-uh;| =ou |_;
asset or liability
$_; rubm1br- ou |_; lov| -7-m|-];ov

l-uh;|lv|0;-11;vvb0;0|_;uor
The fair value of an asset or a liability is
l;-vu;7 vbm] |_; -vvlromv |_-|
l-uh;| r-u1br-m|v o7 v; _;m
rub1bm]|_;-vv;|oub-0bb|-vvlbm]|_-|
l-uh;|r-u1br-m|v-1|bm|_;bu;1omolb1
0;v|bm|;u;v|
A fair value measurement of a nonCm-m1b--vv;||-h;vbm|o-11om|-l-uh;|
r-u1br-m|v-0bb||o];m;u-|;;1omolb1
0;m;C|v0vbm]|_;-vv;|bmb|v_b]_;v|
-m7 0;v| v; ou 0 v;bm] b| |o -mo|_;u
l-uh;| r-u1br-m| |_-| o7 v; |_;
-vv;|bmb|v_b]_;v|-m70;v|v;
$_;uorv;v--om|;1_mbt;v|_-|
are appropriate in the circumstances and
=ou_b1_vL1b;m|7-|--u;--b-0;|o
l;-vu;=-bu-;l-blbvbm]|_;v;o=
u;;-m|o0v;u-0;bmr|v-m7lbmblbvbm]
|_;v;o=mo0v;u-0;bmr|v
80
INSPIRING
GENERATIONS

mo;l;m|o=;|;um--;uvbv7;1b7;7
rom-mm-0|_;-m-];l;m|-[;u
7bv1vvbom b|_ -m7 -rruo- 0 |_;
olr-mv 7b| ollb;; ";;1om
1ub|;ub- bm17; l-uh;| hmo;7];
u;r|-om bm7;r;m7;m1; -m7 _;|_;u
ruo=;vvbom- v|-m7-u7v -u; l-bm|-bm;7
$_; -m-];l;m| -[;u 7bv1vvbomv
b|_ |_; uorv ;|;um- -;u _b1_
--om |;1_mbt;v -m7 bmr|v |o v;
=ou;-1_1-v;
|;-1_u;roum]7-|;|_;-m-];l;m|
analyses the movements in the values
o= -vv;|v _b1_ -u; u;tbu;7 |o 0; u;
measured or re-assessed as per the
uorv -11omm] rob1b;v ou |_bv
-m-vbv |_; -m-];l;m| ;ubC;v
the major inputs applied in the latest
--om 0 -]u;;bm] |_; bm=oul-om bm
|_; --om 1olr|-om |o 1om|u-1|v
-m7o|_;uu;;-m|7o1l;m|v
$_;-m-];l;m|bm1omfm1omb|_|_;
uorv;|;um--;u-vo1olr-u;v|_;
1_-m];bm|_;=-bu-;o=;-1_-vv;|b|_
u;;-m| ;|;um- vou1;v |o 7;|;ulbm;
_;|_;u|_;1_-m];bvu;-vom-0;
For the purpose of fair value disclosures,
the Group has determined classes of
-vv;|v-m7b-0bb;vom|_;0-vbvo=|_;
m-|u; 1_-u-1|;ubv1v -m7 ubvhv o= |_;
asset or liability and the level of the fair
-;_b;u-u1_-v;r-bm;7-0o;
m;v|l;m|uor;u|
Investment Property comprises freehold land,

=u;;_o70b7bm]v|o];|_;ub|_|_;bm|;]u-r-u|v
o=v1_ruor;u;v
m;v|l;m| uor;u| bv l;-vu;7 bmb- -| b|v

1ov| bm17bm] u;-|;7 |u-mv-1om 1ov|v [;u
bmb-u;1o]mbomm;v|l;m|uor;u|bv1-uub;7
-|=-bu-;
$_; =-bu -; o= m;v|l;m| uor;u| u;Y;1|v

-lom] o|_;u |_bm]v u;m|- bm1ol; =uol 1uu;m|
;-v;v -m7 -vvlromv -0o| u;m|- bm1ol;
=uol=|u;;-v;vbm|_;b]_|o=1uu;m|l-uh;|
1om7bomv -v -rru-bv;7 0 -m bm7;r;m7;m|
-;u-mm-
"0v;t;m|;r;m7b|u;bv1_-u];7|o|_;-vv;|v
1-uubm] -lom| om _;m b| bv ruo0-0; |_-|
=|u; ;1omolb1 0;m;C|v -vvo1b-|;7 b|_ |_;
b|;lb Yo |o |_; uor -m7 |_; 1ov| o= |_;
b|;l 1-m 0; l;-vu;7 u;b-0 o|_;u u;r-buv
-m7l-bm|;m-m1;1ov|v-u;1_-u];7|o|_;m1ol;
"|-|;l;m| 7ubm] |_; Cm-m1b- r;ubo7 bm _b1_
|_;-u;bm1uu;7
-bmv ou ovv;v -ubvbm] =uol 1_-m];v bm |_; =-bu

-;v o= bm;v|l;m| ruor;u;v -u; bm17;7 bm
|_;ruoC|ouovvbm|_;r;ubo7bm_b1_|_;-ubv;
Fair values are determined based on an annual
;--om r;u=oul;7 0 -m -11u;7b|;7 ;|;um-
bm7;r;m7;m| -;u -rrbm] - --om lo7;
u;1oll;m7;7 0 |_; m|;um-om- (--om
"|-m7-u7vollb;;
= -m m;v|l;m| uor;u| 0;1ol;v om;u

o11rb;7 b| bv u;1-vvbC;7 -v uor;u| -m|
and Equipment and its fair value at the date of
u;1-vvbC1-om 0;1ol;v b|v 1ov| =ou -11omm]
rurov;v uor;u| |_-| bv 0;bm] 1omv|u1|;7 ou
developed for future use as Investment Property
bv1-vvbC;7-vruor;u|r-m|-m7;tbrl;m|-m7
v|-|;7-|1ov|m1omv|u1omou7;;orl;m|
m;v|l;m|v
-
m;v|l;m|bm"0vb7b-ub;v
om] |;ul bm;v|l;m|v -u; v|-|;7 -| 1ov| bm

|_; 1olr-mv Cm-m1b- "|-|;l;m|v -uubm]
-lom|v-u;u;71;7|ou;1o]mb;-7;1bm;o|_;u
than temporary, determined for each investment
bm7bb7- $_;v; u;71omv =ou o|_;u |_-m
|;lrou-u 7;1bm;v bm 1-uubm] -lom|v -u;
1_-u];7|o|_;m1ol;"|-|;l;m|
uor;u| |_-| bv _;7 =ou om] |;ul u;m|- b;7v

ou=ou1-rb|--rru;1b-omou0o|_-m7|_-|bvmo|
o11rb;70|_;;m;vbm|_;uorbv1-vvbC;7
-vm;v|l;m|uor;u|
81
(not applicable to the Group) and the return on

r-m-vv;|v;17bm]m;|bm|;u;v|-u;u;1o]mb;7
bll;7b-|;bm|_;v|-|;l;m|o=Cm-m1b-rovbom
b|_ - 1ouu;vrom7bm] 7;0b| ou 1u;7b| |o u;|-bm;7
;-umbm]v|_uo]_|_;uolru;_;mvb;m1ol;bm
|_;r;ubo7bm_b1_|_;o11u!;l;-vu;l;m|v
-u;mo|u;1-vvbC;7|oruoC|ouovvbmv0v;t;m|
r;ubo7v
bv 1olr;|; | |_-| l; b| bv u;1-vvbC;7 -m7

subsequently accounted for as Investment
uor;u|
uobvbomv
uobvbomv -u; u;1o]mb;7 _;m |_; uor _-v

- ru;v;m| o0b]-om ;]- ou 1omv|u1; -v
- u;v| o= - r-v| ;;m| _;u; b| bv ruo0-0;
|_-| -m oo o= u;vou1;v ;l0o7bm]
;1omolb1 0;m;C|v b 0; u;tbu;7 |o v;; |_;
o0b]-om -m7 - u;b-0; ;vl-|; 1-m 0; l-7;
o= |_; -lom| o= |_; o0b]-om )_;m |_;
uor ;r;1|v vol; ou - o= - ruobvbom |o 0;
u;bl0uv;7|_;u;bl0uv;l;m|bvu;1o]mb;7-v-
v;r-u-|;-vv;|0|om_;m|_;u;bl0uv;l;m|
bv bu|- 1;u|-bm $_; ;r;mv; u;-m] |o -m
provision is presented in the Income Statement
m;| o= -m u;bl0uv;l;m| = |_; ;@;1| o= |_;
l; -; o= lom; bv l-|;ub- ruobvbomv -u;
7;|;ulbm;7 0 7bv1omm] |_; ;r;1|;7 =|u;
1-v_Yov-|-ru;|-u-|;|_-|u;Y;1|v1uu;m|
l-uh;| -vv;vvl;m|v o= |_; l;-; o= lom;
-m7 _;u; -rruorub-|; |_; ubvhv vr;1bC1 |o |_;
b-0bb|)_;u;7bv1omm]bvv;7|_;bm1u;-v;
bm |_; ruobvbom 7; |o |_; r-vv-]; o= l; bv
u;1o]mb;7-v-mbm|;u;v|;r;mv;
-v|v;ub1;1ov|v-u;u;1o]mbv;7bmruoC|ouovv
om|_;;-ub;uo=
-
The date of the plan amendment or

curtailment, and
$_; 7-|; |_-| |_; uor u;1o]mbv;v

u;v|u1|ubm]u;-|;71ov|v
;| bm|;u;v| bv 1-1-|;7 0 -rrbm]

|_; 7bv1om| u-|; |o |_; m;| 7;Cm;7
0;m;C| b-0bb| $_; uor u;1o]mbv;v
|_;=oobm]1_-m];vbm|_;m;|7;Cm;7
0;m;C|o0b]-omm7;u1ov|o=v-;v-m7
-7lbmbv|u-om ;r;mv;v bm |_; m1ol;
"|-|;l;m|
";ub1; 1ov|v 1olrubvbm] 1uu;m| v;ub1;

1ov|v r-v|v;ub1; 1ov|v ]-bmv -m7
ovv;v om 1u|-bl;m|v -m7 momuom;
v;;l;m|v
;|bm|;u;v|;r;mv;oubm1ol;
$_; ]u-|b| b-0bb| bv mo| ;|;um-

=m7;7 $_bv b|;l bv v|-|;7 m7;u
ov| lro;; ;m;C| b-0bb| bm |_;
"|-|;l;m|o= bm-m1b-ovbom
!;u;l;m|;m;C|0b]-omv
-
;Cm;7;m;C|-mu-|b|
$_;uorbvb-0;|or-]u-|b|bm|;ulvo=|_;
u-|b|1|oo=
The Group measures the present value of the
ruolbv;7 u;u;l;m| 0;m;C|v o= ]u-|b| _b1_
bv - 7;Cm;7 0;m;C| r-m b|_ |_; -7b1; o= -m
bm7;r;m7;m|-1|-u
ou|_;rurov;o=7;|;ulbmbm]|_;1_-u];=ou-m
r;ubo70;=ou;|_;m;|u;]-u-1|-ub---om
=-v7;-m-rruobl-|;;vl-omruob7;70
|_;t-bC;7-1|-ubvv;7
$_;1ov|o=ruob7bm]0;m;C|vm7;u|_;7;Cm;7
0;m;C|r-mbv7;|;ulbm;7vbm]|_;ruof;1|;7mb|
1u;7b| l;|_o7 !;l;-vu;l;m|v 1olrubvbm] o=
-1|-ub- ]-bmv -m7 ovv;v ;17bm] m;| bm|;u;v|
0
;Cm;7 om|ub0om -mv lro;;v

uob7;m| m7lro;;v$uv| m7
lro;;v -u; ;b]b0; =ou lro;;v uob7;m|

m7 om|ub0omv -m7 lro;;v $uv| m7
om|ub0omvbmbm;b|_|_;u;vr;1;v|-||;v
-m7 u;]-omv $_; uor 1om|ub0|;v
-m7 o= ]uovv ;lol;m|v o= ;lro;;v |o
Employees Provident Fund and Employees Trust
m7u;vr;1;
82
INSPIRING
GENERATIONS

lr-bul;m|o=om bm-m1b-vv;|v
$_; uor -vv;vv;v -| ;-1_ u;roum] 7-|;

_;|_;u |_;u; bv -m bm7b1-om |_-| -m -vv;|
l- 0; blr-bu;7 = -m v1_ bm7b1-om ;bv|v
ou _;m -mm- blr-bul;m| |;vm] =ou -m -vv;|
bv u;tbu;7 |_; uor l-h;v -m ;vl-|; o=
|_; -vv;|v u;1o;u-0; -lom| m -vv;|v
u;1o;u-0; -lom| bv |_; _b]_;u o= -m -vv;|v
ou 1-v_];m;u-m] mb|v =-bu -; ;vv 1ov|v
to sell and its value in use and is determined
for an individual asset, unless the asset does
mo| ];m;u-|; 1-v_ bmYov |_-| -u; -u];
bm7;r;m7;m|o=|_ov;=uolo|_;u-vv;|vou]uorv
o= -vv;|v )_;u; |_; 1-uubm] -lom| o= -m
-vv;| ;1;;7v b|v u;1o;u-0; -lom| |_; -vv;|
bv1omvb7;u;7blr-bu;7-m7bvub;m7om|ob|v
u;1o;u-0; -lom| m -vv;vvbm] -; bm v;
|_; ;vl-|;7 =|u; 1-v_ Yov -u; 7bv1om|;7
|o |_;bu ru;v;m| -; vbm] - ru;|- 7bv1om|
u-|; |_-| u;Y;1|v 1uu;m| l-uh;| -vv;vvl;m|v o=
|_; l; -; o= lom; -m7 |_; ubvhv vr;1bC1
|o |_; -vv;| m 7;|;ulbmbm] =-bu-; ;vv 1ov|v
|o v; -m -rruorub-|; --om lo7; bv v;7
$_;v;1-1-omv-u;1ouuo0ou-|;70--om
lr;vouo|_;u--b-0;=-bu-;bm7b1-|ouv
lr-bul;m| ovv;v o= 1ommbm] or;u-omv -u;
u;1o]mbv;7 bm |_; m1ol; "|-|;l;m| bm |_ov;
;r;mv; 1-|;]oub;v 1omvbv|;m|b|_ |_; =m1om
o= |_; blr-bu;7 -vv;| ;1;r| =ou ruor;u|
ru;bov u;-;7 _;u; |_; u;--om -v
|-h;m |o ;tb| m |_bv 1-v; |_; blr-bul;m| bv
-vou;1o]mbv;7bm;tb|r|o|_;-lom|o=-m
ru;bovu;--om
For assets, an assessment is made at each
u;roum]7-|;-v|o_;|_;u|_;u;bv-mbm7b1-om
|_-|ru;bovu;1o]mb;7blr-bul;m|ovv;vl-
mo om];u ;bv| ou l- _-; 7;1u;-v;7 = v1_
bm7b1-om;bv|v|_;uorl-h;v-m;vl-|;o=
|_;u;1o;u-0;-lom|ru;bovu;1o]mb;7
impairment loss is reversed only if there has been
- 1_-m]; bm |_; ;vl-|;v v;7 |o 7;|;ulbm;
the assets recoverable amount since the last
blr-bul;m|ovv-vu;1o]mb;7=|_-|bv|_;1-v;
|_;1-uubm]-lom|o=|_;-vv;|bvbm1u;-v;7|o
b|v u;1o;u-0; -lom| $_-| bm1u;-v;7 -lom|
1-mmo| ;1;;7 |_; 1-uubm] -lom| |_-| o7
_-; 0;;m 7;|;ulbm;7 m;| o= 7;ru;1b-om _-7
moblr-bul;m|ovv0;;mu;1o]mb;7=ou|_;-vv;|
bmrubou;-uv"1_u;;uv-bvu;1o]mb;7bm|_;
Income Statement unless the asset is carried at
u;-;7 -lom| bm _b1_ 1-v; |_; u;;uvbv
|u;-|;7-v-u;--ombm1u;-v;
"r;u-bm$-"$
As per the provisions of Part III of the Finance
1| o o= _b1_ -v 1;uC;7 om
1|o0;u |_; uor -v b-0; =ou "r;u
-bm|-o=!vbbomolr-mbbom
11ou7bm]|o|_;1||_;vr;u]-bm|-v_-0;
7;;l;7 |o 0; -m ;r;m7b|u; bm |_; Cm-m1b-
v|-|;l;m|v u;-m] |o |_; ;-u o= -vv;vvl;m|
_b1_1oll;m1;7omrub$_;;r;mv;
o="r;u]-bm|-bv-11om|;7bm-11ou7-m1;b|_
the requirements of the said Act as recommended
0|_;"|-|;l;m|o=|;um-;$u;-|l;m|"o$
om11omm] =ou "r;u -bm$- bvv;7 0 |_;
mv||; o= _-u|;u;711om|-m|v o= "ub -mh-
7-|;7o;l0;u
@;1|o="ub-mh-11omm]"|-m7-u7v" !"
vv;70|mo|;|@;1;
;u|-bm m; -11omm] v|-m7-u7v -m7

-l;m7l;m|vblruo;l;m|v|o;bvm]v|-m7-u7v
have been published, that are not mandatory for
;1;l0;u u;roum] r;ubo7v om; o=
|_ov;_-;0;;m;-u-7or|;70|_;olr-m
SLFRS 9 Financial Instruments
" !" u;r-1;v |_; ;bvm] ]b7-m1; bm "

bm-m1b- mv|ul;m|v !;1o]mbom -m7
;-vu;l;m|" !"bm17;vu;bv;7]b7-m1;
om|_;1-vvbC1-om-m7l;-vu;l;m|o=Cm-m1b-
bmv|ul;m|v-m;;r;1|;71u;7b|ovvlo7;=ou
1-1-m] blr-bul;m| om Cm-m1b- -vv;|v -m7
m; ];m;u- _;7]; -11omm] u;tbu;l;m|v |
-vo1-uub;v=ou-u7|_;]b7-m1;omu;1o]mbom
-m7 7;u;1o]mbom o= Cm-m1b- bmv|ul;m|v =uol
"
83
" !"bv;@;1;=ou-mm-u;roum]r;ubo7v
0;]bmmbm]omou-[;u-m-ub|_;-u
-7oromr;ulb;7
" !"!;]-|ou ;=;uu-11om|v
" !" bv -m bm|;ubl v|-m7-u7_b1_ ruob7;v

u;b;==ouCuv|l;-7or|;uvo=" !"bmu;-om
|o|_;-11omm]=ou1;u|-bm0--m1;v|_-|-ubv;
=uolu-|;u;]-|;7-1b;vu;]-|ou7;=;uu-
-11om|v$_;v|-m7-u7r;ulb|v|_;v;;m;v|o
1omm;|o-rr|_;buru;bov-11omm]
rob1b;v =ou |_; u;1o]mbom l;-vu;l;m|
blr-bul;m| -m7 7;u;1o]mbom o= u;]-|ou
7;=;uu--11om|v
" !"bv;@;1;=ou-mm-r;ubo7v0;]bmmbm]
omou-[;u-m-u
" !" !;;m; =uol om|u-1|v b|_

Customers
" !";v|-0bv_;v-1olru;_;mvb;=u-l;ouh
=ou 7;|;ulbmbm] _;|_;u _o l1_ -m7 _;m
u;;m; bv u;1o]mb;7 | u;r-1;v ;bvm]
u;;m;u;1o]mbom]b7-m1;bm17bm]"
!;;m; " omv|u1om om|u-1|v -m7
!v|ol;uo-|uo]u-ll;v
" !"bv;@;1;=ou-mm-u;roum]r;ubo7v
0;]bmmbm]omou-[;u-m-ub|_;-u
-7oromr;ulb;7
-m-];l;m| 0;b;;v |_-| |_; " !" o7

not be applicable for the Company, as it is an
;bvm]" !"ru;r-u;u7o;vmo|bmo;bmu-|;
u;]-|ou -1b;v ;m7bm] |_; 1olr;om
of the detailed impact analysis, possible Impact
from SLFRS 9 and SLFRS 15 is not reasonably
;vl-0;-vo=|_;u;roum]7-|;
$_; =oobm] -l;m7l;m|v -m7 blruo;l;m|v

-u;mo|;r;1|;7|o_-;-vb]mbC1-m|blr-1|om
|_;olr-mvCm-m1b-v|-|;l;m|v
-ubC1-om o= 11;r|-0; ;|_o7v

o= ;ru;1b-om -m7 lou-om
l;m7l;m|v|o"-m7"
mm- lruo;l;m|v |o " !"v

1;-ubovv|-m7-u7v
bv1ovu; mb-; l;m7l;m|v |o

"
7lbmbv|u-omr;mv;v
-uh;m]-m7
uoloom-r;mv;v
1_-m];-bm
Finance Cost
Finance Income
Other Income
;|uoC|;=ou;$-
Fair Value Gain on

Investment Property
uor;u|
";ub1;v
!v
uor;u|
$u-7bm]
!v

(7,504,832)
451,473
9,963,877
1,015,557,962
(152,013,163)

825,997
(29,874,649)
177,699,206

74,295,453
2,480,204,821
(45,554,839)
9,386,204
(2,696,365)
9,250,169
19,178,470
949,121,776
(61,326,240)
(56,750,105)
- (3,308,320,132)
17,017,236 1,020,884,378
uor;u|
;-vbm]
!v

(424,771,995)

1,393,714,015
omvob7-|;7
2015
Rs.
- 4,329,204,511
73,767,341
73,767,341 4,329,204,511
uor;u|
$u-7bm]
Rs.
2014

1,764,445,362

54,040,648
1,818,486,010
uor;u|
";ub1;v
Rs.
m|;um|u";]l;m|
blbm-omv
Rs.
omvob7-|;7
2014
!v
(220,841,508)
(45,554,839)
(1)
10,212,200
(32,571,014)
- 187,400,848
(29,127,000)
64,346,923
(52,867,109) 3,386,423,366
2,727
- 1,015,557,962
- (481,522,100)
(1) (3,308,320,133)
(23,742,836) 2,407,872,794
- 6,093,649,872
(23,742,835) 104,065,154
(23,742,835) 6,197,715,027
m|;um|u";]l;m|
blbm-omv
!v
Revenue
Other Services
$o|-!;;m;
bu;1|r;u-m]
r;mv;v
Cost of Sales
uovvuoC|ovv
uor;u|
;-vbm]
Rs.
2015
-m-];l;m| lomb|ouv |_; or;u-m] u;v|v o= b|v 0vbm;vv v;]l;m|v v;r-u-|; =ou |_; rurov; o= l-hbm] 7;1bvbomv -0o| u;vou1; -o1-om -m7
r;u=oul-m1;-vv;vvl;m|
";]l;m|!;v|v
$_;uor_-v|_u;;0vbm;vvv;]l;m|vuor;u|;-vbm]uor;u|";ub1;v-m7uor;u|$u-7bm]uor;u|;-vbm]bv7;ub;70;uv;-v!;-|;om
!uor;u|";ub1;vbv7;ub;70!-m7!;-|-m-];l;m|";ub1;v||7!"-m7uor;u|$u-7bm]bv7;ub;7|_uo]_bu;h-
-rb|--m7||7-m7bu;h-ol;v||7!;-umvu;m|-bm1ol;0-o=u;mm]o||_;vr-1;-|)ou7$u-7;;m|;u
o1-|;7-|1_;om"t-u;ool0o_b;!;-|-m-];l;m|";ub1;v||7!"bv;m]-];7bm0uohbm]ruob7bm]-0v;m|;;-m7ou7l-m-];l;m|
ruob7bm]=-1bb|l-m-];l;m|-m7u;-|;7v;ub1;v-m7|u-7bm]o=b]_m]voomvu;1o]mbv;vu;;m;|_uo]_|_;v-;o=-m7-m7bm=u-v|u1|u;-m7
u;1o]mbv;vu;;m;|_uo]_|_;v-;o=1om7olbmblmb|vo=-;o1hb|
"$ !$
84
INSPIRING
GENERATIONS
;ru;1b-om
lro;;;m;C|ov|v
lou-om
_-u];=ou|_;+;-u
-rb|-b;7b|_|_;
Inventories
$o|-ov|m1uu;77ubm]|_;
Year to Acquire
- Property, Plant and
Equipment
Rs.
uor;u|
$u-7bm]
2015
Rs.
Rs.
uor;u|
";ub1;v
uor;u|
;-vbm]
Rs.
omvob7-|;7
uor;u|
$u-7bm]
!v
uor;u|
;-vbm]
!v
238,850
35,959,867
7,790,129
5,268,799
97,259,006
439,900
!v
omvob7-|;7
28,721,093
866,333
4,239,761
116,211,303
161,939,966
5,268,799
866,333
12,268,740
126,339,415
omvob7-|;7
2014
!v
2,839,623,596
30,275,623,214
uor;u|
$u-7bm]
!v
(243,221)
(1,236,909,513)
m|;um|u";]l;m|
blbm-omv
!v
2014
uor;u|
";ub1;v
!v
1,480,348,556
5,249,134,292
9,688,212
20,367,009
1,339,151,253
$o|-b-0bb;v
|_;u";]l;m|m=oul-om
31,993,639
uor;u|
";ub1;v
!v
26,231,404,796
uor;u|
;-vbm]
!v
Total Assets
2014
$o|-b-0bb;v
Total Assets
2015
";]l;m|vv;|v-m7b-0bb;v
85
86
INSPIRING
GENERATIONS

$!"!("

Group
Property Facility Fees

;|m1ol;r;mv;=uol
Rented Car Park
Default Interest
-m-];l;m| ;;v
2015
Rs.
2014
!v
2015
Rs.
2014
!v
42,782,609
22,440,000
3,041,370
3,041,370
15,145
15,145
14,610,455
22,782,835
2,227,405
2,227,405
];m1 ;;v
14,506,599
Other Service Income
4,034,057
3,533,894
"-;o=b]_m]"oomv
22,847,514
104,065,154
54,040,648
;]- ;;v
Company
("$$!!$+

Group
2015
Rs.
Company
2014
!v
2015
Rs.
2014
!v
As at 1 January
20,389,314,845 20,389,314,845
Net Gain from Fair Value Adjustment
As at 31 December
21,404,872,807 21,404,872,807
1,015,557,962
1,015,557,962
5.1
$_;olr-mC;7- ;;7o= ;1-u-omo7-|;7m;-;v|;70v!7bubl-m;o|-u

0b1v07bb7bm]|_;olr-mvruor;u|b;)ou7$u-7;;m|;u-|1_;om"t-u;bm|o1om7olbmbl
mb|vbm-11ou7-m1;b|_|_;om7olbmbl-mo7-|;7rubl-7;0u$!-|_m--h;
b1;mv;7 "u;ou o= "u; m]bm;;ubm] o blb|;7$_; &u0-m ;;orl;m||_oub| -rruo;7 v1_ r-m
m7;u";1om0-m7o=|_;r-u|l;m|m;uv_br-oo=-v-l;m7;701|oo=
omm;
$_;v-b7om7olbmbl-m-m7 ;;7o= ;1-u-om;u;u;]bv|;u;7b|_|_;-m7!;]bv|uom

|_vu;vm]bm|_;1u;-omo=|_;-m-];l;m|ourou-omom7olbmbl-mom7;u|_;ruobvbomv
o=|_;r-u|l;m|m;uv_br-
5.2
$_;olr-momvom7olbmbl&mb|v|_-|-u;_;7|o;-umu;m|-v$_;v;mb|v1omv||;|_;m;v|l;m|
uor;u|o=|_;uor
-bu-;o=|_;m;v|l;m|uor;u|bv-v1;u|-bm;7-mm-0bm7;r;m7;m|--omv1-uub;7o|0u
-]--];7;u-_-u|;u;7(--om"u;ou|_-|_-vu;1;m|;r;ub;m1;bm-bm]ruor;u;vo=-hbmo1-om-m7
1-|;]oum;v|l;m|uor;u|-v-rru-bv;7bm-11ou7-m1;b|_"ub-mh-11omm]"|-m7-u7v-m7|_;7bom
o=m|;um-om-(--om"|-m7-u7vr0bv_;70|_;m|;um-om-(--om"|-m7-u7vollb;;("0|_;
bm7;r;m7;m|-;um7;|;ulbmbm]|_;=-bu-;|_;1-rb|-b-omo=m;|bm1ol;l;|_o7-m7|_;7bv1omm]
o==|u;1-v_Yov|o|_;buru;v;m|-;_-;0;;mv;7_b1_-u;0-v;7rom-vvlromvbm17bm]=|u;
u;m|-bm1ol;-m1br-|;7l-bm|;m-m1;1ov|v-rruorub-|;7bv1om|u-|;-m7l-hbm]u;=;u;m1;|ol-uh;|;b7;m1;
o=|u-mv-1omrub1;v=ouvblb-uruor;u;vb|_-rruorub-|;-7fv|l;m|v=ouvb;-m7o1-om$_;-rru-bv;7=-bu
-;v-u;-rruobl-|;7b|_bm-rruorub-|;u-m];o=-;v
87
$_;vb]mbC1-m|-vvlromvv;70|_;-;ubm|_;;-uv-m7-u;-v=oov
"b]mbC1-m|
Unobservable Inputs
(--om$;1_mbt;
vl-|;7-uh;|!;m|
r;uvt[
!-|;o=uo|_bm
Future Rentals
m1br-|;7
-bm|;m-m1;ov|
m;v|l;m|;|_o7
(Income Approach)
vbm]|_;7bv1om|;7
1-v_Yov
-rb|-b-om!-|;
2015
2014
!v
!v
|o;-uv
;-uvr-
|o;-uv
;-uvr-
o=u;m|-v
o=u;m|-v
r-
r-
";mvbb|m-vbvo=vvlromvlro;7bmm;v|l;m|uor;u|(--om
Group/Company
$_;|-0;0;oru;v;m|v|_;v;mvbb|o=|_;--om|o1_-m];vbm|_;lov|vb]mbC1-m|-vvlromvm7;ubm]
|_;--omo=m;v|l;m|uor;u|bmu;vr;1|o=|_;;-u
$_;v;mvbb|o=|_;m1ol;"|-|;l;m|-m7"|-|;l;m|o= bm-m1b-ovbombv|_;;@;1|o=|_;-vvl;71_-m];v
bm 7bv1om| u-|; ]uo|_ u-|; -m7 u-|; o= l-bm|;m-m1; 1ov| |-h;m bm7bb7- _b; o|_;u -ub-0;v -u; _;7
1omv|-m|om|_;ruoC|ouovv-m71-uubm]-;o=m;v|l;m|uor;u|=ou|_;;-u
m1u;-v; ;1u;-v;
-rb|-b-om!-|; uo|_bm |u;
!;m|-v
+;-uv
m1br-|;7-bm|;m-m1;
ov|
u;=oul-
@;1|om -bu
m;v|l;m| (-;-bmovv
uor;u|
omm;v|l;m|
--om
uor;u|
!v
!v
1%
18,986,074,928
(2,418,797,880)
-1%
27,711,385,403
6,306,512,595
23,983,104,375
2,578,231,567
1%
-1%
21,260,076,625
(144,796,183)
5%
20,526,736,724
(878,136,084)
-5%
24,632,084,069
3,227,211,261
5.4
$_;uor-m7olr-mv;mo0v;u-0;l-uh;|bmr|vbm7;|;ulbmbm]|_;=-bu-;o=|_;m;v|l;m|uor;u|
b; -bm]m7;u;;o=|_;=-bu-;_b;u-u1_
5.5
!;m|-m1ol;;-um;7=uolm;v|l;m|uor;u|0|_;uor-m7olr-m-lom|;7|o!vm
!vm bu;1|or;u-m];r;mv;vbm1uu;70|_;uor-m7olr-m-lom|;7|o!vm
!vm
Transfers*
--m1;-v-|
31 December 2015
_-u];7=ou|_;+;-u
bvrov-v7ubm]|_;
Year
--m1;-v-|
1 January 2015
;ru;1b-om
|ov|ou(--om
--m1;-v-|
1 January 2015
77bomv7ubm]|_;
Year
bvrov-v7ubm]|_;
Year
Transfers*
!;--omv
--m1;-v-|
31 December 2015
uovv-uubm]lom|v
19,256,594
6,488,324
10,204,095
4,846,446
8,575,330
1,628,765
!v
3,549,495
1,296,951
!v
tbrl;m|
4,849,381
Temporary
b7bm]
14,407,213
!v
6,488,324
!v
tbrl;m|
Group
6.1
Temporary
b7bm]
!!$+$ &$
32,611,693
(664,762)
-
388,655
32,887,800
!v
30,571,818
(250,000)
28,634,211
2,187,607
!v
23,431,717
!v
!v
(20,630,182)
33,572,583
3,613,737
(20,209,762)
(20,630,182)
33,572,583
26,091,596
24,640,120
3,103,406
!v
o|ou
(;_b1;v
8,448,526
(20,630,182)
20,630,182
!v
b7bm]v
27,607,834 1,062,741,472 1,185,487,511
(19,295,000)
-
13,700,000
!v
$o|-uovv
-uubm]
lom|
(20,209,762)
(20,630,182)
33,572,583
35,939,895
77,502,603
(20,630,182)
(20,209,762)
87,824,067
30,518,480
!v
$o|-
;ru;1b-om
490,120,498 1,675,608,009
9,848,299
480,272,199 1,646,935,475
!v
$o|-(-;o=
m|_;
;ru;1b-0;
ouv;o=
b7bm]v
vv;|v omv|u1om
|(--om
33,202,834 1,046,185,334 1,166,663,276
!v
o|ou
(;_b1;v
(664,762) (19,295,000)
22,424,910
1,671,569
!v
olr|;u
and
;1|uomb1
umb|u;
tbrl;m| -m7 bm]v
36,781,594
(250,000)
-
3,539,823
33,491,771
!v
|ov|
olr|;u
and
;1|uomb1
umb|u;
tbrl;m| -m7 bm]v
88
INSPIRING
GENERATIONS
10,462,889
8,562,714
32,653,876

umb|u;-m7 bm]v
-rb|-)ouhmuo]u;vv
m|_;ouv;o=omv|u1om
b7bm]v
|(--om
o|ou(;_b1;v
4,857,561
Computers and Electronic Equipment
480,272,199
480,272,199
1,559,111,409

1,046,185,334

1,046,185,334
5,831,882
Equipment
2,938,829
2014
!v
2015
Rs.
$;lrou-ub7bm]
|ov|
;|ooh(-;
$_bv|u-mv=;uu;-|;v|o|_;-11l-|;77;ru;1b-om-v-||_;u;--om7-|;|_-|-v;blbm-|;7-]-bmv||_;]uovv1-uubm]-lom|o=|_;u;-;7-vv;|
89
uovv-uubm]lom|v
--m1;-v-|
1 January 2015
_-u];7=ou|_;+;-u
bvrov-v7ubm]|_;+;-u
Transfers*
--m1;-v-|
31 December 2015
;ru;1b-om
--m1;-v-|
1 January 2015
77bomv7ubm]|_;+;-u
bvrov-v7ubm]|_;+;-u
!;--om
Transfers*
--m1;-v-|
31 December 2015
olr-m
26,070,864
5,963,833
22,402,139
787,289
23,189,428
4,475,348
130,964
-
4,606,312
olr|;u
-m7;1|uomb1
tbrl;m|
tbrl;m|
!v
!v
24,420,343
1,650,521
-
!v
5,178,694
785,139
-
!v
18,933,115
18,413,765
519,350
-
umb|u;
-m7 bm]v
!v
20,575,790
20,496,355
79,435
-
!v
|ov|
olr|;u
-m7;1|uomb1
umb|u;
tbrl;m|
tbrl;m|
-m7 bm]v
!!$+$ &$om|7
!v
b7bm]v
!v
8,206,526
24,398,120
3,103,406
(19,295,000)
-
o|ou
(;_b1;v
!v
27,365,834
6,096,744
(6,096,744)
b7bm]v
!v
336,589,004
416,565,325
2,304,921
1,962,104
342,817
-
!v
$o|-(-;o=
m|_;
;ru;1b-0;
ouv;o=
vv;|v omv|u1om
32,960,834 323,127,192 406,183,418

13,700,000
16,215,095
(19,295,000)
(19,295,000)
19,558,556
19,558,556
(6,096,744)
(6,096,744)
!v
o|ou
(;_b1;v
|(--om
54,935,381
69,689,372
10,637,753
(19,295,000)
(6,096,744)
$o|-
;ru;1b-om
!v
418,870,246
408,145,522
16,557,912
(19,295,000)
19,558,556
(6,096,744)
$o|-uovv
-uubm]
lom|
!v
90
INSPIRING
GENERATIONS
-rb|-)ouhmuo]u;vv
m|_;ouv;o=omv|u1om
b7bm]v
1,962,104
1,962,104
338,456,150

323,127,192
13,366,854
|(--om
323,127,192
8,562,714
2,082,590
umb|u;-m7 bm]v
o|ou(;_b1;v
2,018,204

703,346
2014
!v
Equipment
2015
Rs.
Computers and Electronic Equipment
|ov|
;|ooh(-;
$_bv|u-mv=;uu;-|;v|o|_;-11l-|;77;ru;1b-om-v-||_;u;--om7-|;|_-|-v;blbm-|;7-]-bmv||_;]uovv1-uubm]-lom|o=|_;u;-;7-vv;|
91
92
INSPIRING
GENERATIONS

!!$+$ &$om|7
6.3
$_;=-bu-;o=0b7bm];;o=|_;)ou7$u-7;;m|u;_;7-vom;uo11rb;7ruor;u|-v7;|;ulbm;7
0l;-mvo=-u;--om7ubm]|_;Cm-m1b-;-u0u-]--];7;u--mbm7;r;m7;m|-;u$_;
u;v|vo=v1_u;--om;u;bm1ourou-|;7bm|_;v; bm-m1b-"|-|;l;m|v=uolb|v;@;1;7-|;_b1_bv
;1;l0;u$_;vurv-ubvbm]=uol|_;u;--om-v|u-mv=;uu;7|o-u;--omu;v;u;$_;--om
|_-|-vv;7|o-v1;u|-bm|_;-;o=bm;v|l;m|ruor;u|-vv;7=ou|_;7;|;ulbm-omo=|_;=-bu-;o=
|_;b7bm]v;;1-uub;7-|=-bu-; u|_;uvblb-u-vvlromv_-;0;;mv;7bm7;|;ulbmbm]|_;=-bu
-;o=|_;ruor;u|-v]b;mbmo|;
6.4
$_;=-bu-;o=0b7bm]0ov;-|-;o1hb|-v7;|;ulbm;70l;-mvo=-u;--omvbm]|_;
u;r-1;l;m|1ov|-rruo-1_7ubm]|_;Cm-m1b-;-u0u-]--];7;u--mbm7;r;m7;m|-;u
$_;u;v|vo=v1_u;--om;u;bm1ourou-|;7bm|_;v; bm-m1b-"|-|;l;m|v=uolb|v;@;1;7-|;_b1_bv
;1;l0;u
6.5
-v_r-l;m|v-lomm]|o!v!v;u;l-7;7ubm]|_;;-u0|_;
uor-m7!v!v;u;l-7;0|_;olr-m=ouru1_-v;o=uor;u|-m|
-m7tbrl;m|
6.6
;ru;1b-ombv1-1-|;7om-v|u-b]_|bm;0-vbvo;u|_;v;=b=;o=|_;-vv;|v-v=oov
b7bm]v
Over 60 Years
$;lrou-ub7bm]
Over 5 Years
Computer and Electronic Equipment
Over 4 Years
Equipment
Over 5 - 10 Years
umb|u;-m7 bm]v
Over 10 Years
o|ou(;_b1;v
Over 5 Years
6.7
|o=|_;|o|-7;ru;1b-om=ou|_;;-uo=!v!v-m-lom|o=!vb
!v_-v0;;m|u-mv=;uu;7|om;m|ouuof;1|&m7;u ;;orl;m|7ubm]|_;;-u0|_;
uor$_ov;-vv;|v-u;vbmv;=ouvrro=v;ub1;v-m7-7lbmbv|u-;rurov;
6.8
uor;u|-m|-m7tbrl;m|o=|_;uor-m7|_;olr-mbm17;v=7;ru;1b-|;7-vv;|v_-bm]-]uovv
1-uubm] -lom| o= !v -m7 !v !v -m7 !v
u;vr;1;
6.9
$_;1-uubm]-lom|o=u;-;7-vv;|v|_-|o7_-;0;;mbm17;7bm|_; bm-m1b-"|-|;l;m|v_-7|_;-vv;|v
0;;m1-uub;7-|1ov|;vv7;ru;1b-ombv-v=oov
-vvo=vv;|
ov|
l-;
;ru;1b-om
=-vv;|v;u;
-uub;7-|1ov|
;|-uubm]
lom|
2015
;|-uubm]
lom|
2014
!v
!v
Rs.
!v
(13,114,736)
75,774,023
(14,533,438)
723,058,142
Group
b7bm];;
b7bm]0ov;
6.10
$_;uor-m7olr-mv;mo0v;u-0;l-uh;|bmr|vbm7;|;ulbmbm]|_;=-bu-;o=|_;b7bm]vu;Y;1|;7
-|b|v=-bu-;b; -bm]m7;u;;o=|_;=-bu-;_b;u-u1_
93
7.
INTANGIBLE ASSETS
7.1
Group
)$
Membership
!v
"ll-u
o|;
olr|;u
"o[-u;
!v
oo7b
!v
o|;
o|;
$o|-
!v
ov|
As at 1 January 2015
7,297,734
28,919,768
8,794,864
45,012,366
7,297,734
28,919,768
8,794,864
45,012,366
7,297,734
23,915,194
31,212,928
1,470,252
1,470,252
7,297,734
25,385,446
32,683,180
5,004,574
8,794,864
13,799,438
As at 31 December 2015
3,534,322
8,794,864
12,329,186
)$
Membership
olr|;u
"o[-u;
$o|-
!v
!v
!v
1tbu;7m1uu;77ubm]|_;+;-u
lou-om
lou-om7ubm]|_;+;-u
;|0ooh-;
olr-m
"ll-u
o|;
o|;
ov|
7,297,734
28,919,768
36,217,502
7,297,734
28,919,768
36,217,502
7,297,734
23,915,194
31,212,928
1,470,252
1,470,252
7,297,734
25,385,446
32,683,180
5,004,574
5,004,574
3,534,322
3,534,322
1tbu;7m1uu;77ubm]|_;+;-u
lou-om
lou-om=ou|_;+;-u
;|0ooh-;
94
INSPIRING
GENERATIONS

7.
INTANGIBLE ASSETS (Contd.)
7.3
)$ l;l0;uv_br =;; u;ru;v;m| |_; oub]bm- -lom| r-b7 |o 0; ;b]b0; |o v; |_; |u-7; m-l; )ou7$u-7;
;m|u;
7.4
olr|;uvo[-u;u;ru;v;m||_;m|;urubv;!;vou1;-mmbm]"v|;l!1omvbvm]o=-rrb1-omvo[-u;

v;ub1;mv;-m7blr;l;m|-omv;ub1;vo=_b1_|_;l-m-];l;m|o=|_;olr-m_-v7;|;ulbm;7|_;v;=
b=;-vC;;-uvlou-om_-v0;;ml-7;om-v|u-b]_|bm;0-vbvbm|_;m1ol;"|-|;l;m| ubm]|_;;-u
m7;uu;b;-=u|_;u-lom|o=!vb!v-vbm;v|;7bm|_;!vv|;l
7.5
oo7bbvu;-|;7|o|_;-1tbvbomo=bu;h--rb|--m7||7
("$$""&" !"

Group
%
o7bm]
2015
Rs.
Company
2014
!v
2015
Rs.
2014
!v
om o|;7m;v|l;m|-|
1ov|
bu;h--rb|--m7||7
ovrb|-b|m|;um-om-|
|7
!;-|-m-];l;m|";ub1;v
||7
uor;u|-u|||7
uobvbom=oulr-bul;m|
ovrb|-b|m|;um-om-|
|7
60%
1,125,000,000
100%
112,159,107
100%
100%

20
10,020
20
1,237,169,147

(112,159,107)
1,125,010,040
95
8.1
v0vb7b-ub;v-u;bm1ourou-|;7bm"ub-mh-
ubm1br-"0vb7b-ub;vb|_l-|;ub-om1om|uobm]m|;u;v|v
"ll-ubv;7Cm-m1b-bm=oul-ombmu;vr;1|o=;uv;-v!;-|;omvv0vb7b-u|_-|_-vl-|;ub-mom
1om|uobm]bm|;u;v|u;Y;1m]-lom|v0;=ou;bm|;u1olr-m;blbm-omvbvv;|o|0;o
bu;h--rb|--m7||7
Group
Group
2015
2014
Rs.
!v
Current Assets
1,903,590,460
Non Current Assets
3,345,543,832
Total Assets
5,249,134,292
uu;m|b-0bb;v
1,476,013,741
omuu;m|b-0bb;v
4,334,815
1,480,348,556
Net Assets
3,768,785,736
;|vv;|vub0|-0;|o
1,507,482,118
Revenue
4,329,204,511
uoC|ovv-[;u$-
947,226,424
378,890,570
80,799
947,307,223
378,890,570
(18,750,000)
1626221361
$o|-b-0bb;v
"|-|;l;m|o=uoC|ouovv-m7|_;uolru;_;mvb;m1ol;
uoC|ovvub0|-0;|o
Other Comprehensive Income
Total Comprehensive Income
$o|-olru;_;mvb;m1ol;ub0|-0;|o
bb7;m7-b7|o7ubm]|_;+;-u
"|-|;l;m|o=-v_ ov
;|-v_mYo=uolr;u-m]1b;v
;|-v_o=uolm;vm]1b;v
;|-v_omYo=uol bm-m1bm]1b;v
;|m1u;-v; ;1u;-v;bm-v_-m7-v_tb-;m|v
(478,848,576)
(958,975,000)
188,397,785
96
INSPIRING
GENERATIONS

!! $*
9.1
Group
2015
2014
Rs.
!v
"|-|;l;m|o=uoC|ouovv
2015
2014
Rs.
!v
;=;uu;7$-vv;|vubvbm]om
&mv;7-uub;7 ou-u7$-ovv;v
Property Plant and Equipment
23,650,233
12,155,863
3,054,766
1,754,322
465,394
81,648
27,170,393
13,991,833
;=;uu;7$-b-0bb|ubvbm]om
Property Plant and Equipment
13,991,833
;=;uu;7$-r;mv;m1ol;
;| ;=;uu;7$-vv;|b-0bb|
27,170,393
--m1;0uo]_|=ou-u7
;=;uu;7m1ol;$-u;7b|_-u];
"|-|;l;m|o=uoC|ouovvo|;
;=;uu;7m1ol;$-u;7b|_-u];
Statement of Comprehensive Income
;| ;=;uu;7$-vv;|b-0bb|
2015
Rs.
2014
!v
(41,162,226)
16,097,788
(2,105,955)
(27,170,393)
olr-m
"|-|;l;m|o=uo[ouovv
2015
2014
2015
2014
Rs.
!v
Rs.
!v
23,613,326
15,860,854
15,860,854
;=;uu;7$-vv;|vubvbm]om
$-ovv-uub;7 ou-u7
;=;uu;7$-r;mv;m1ol;
;| ;=;uu;7$-vv;|b-0bb|
97
($!"
omuu;m|m;m|oub;v
Group
)ouhbmuo]u;vv
Company
2015
Rs.
2014
!v
2015
Rs.
2014
!v

2,124,582,326
2,124,582,326

17,348,555
387,439,012
19,230,387
424,017,954

19,230,387
19,230,387
2,548,600,280
19,230,387
uu;m|m;m|oub;v
)ouhbmuo]u;vv
Completed Apartments for Sale
Consumables and Spares
10.3
$o|-m;m|oub;v
10.4
$_;-lom|o=0ouuobm]1ov|v1-rb|-bv;7b|_bm;m|ou7ubm]|_;;-u;m7;7 ;1;l0;u-v!vb
!v$_;u-|;v;7=ou1-rb|-bvbm]|_;0ouuobm]1ov|-v
$! $!!("

Group
!;m|-m7";ub1;_-u];!;1;b-0;v
Trade Receivables - Apartment Sales
Other Receivables
Accrued Rental Income
VAT Receivables
Advances and Prepayments
Company
2015
Rs.
2014
!v

50,956,095
628,144,202
679,100,297
116,464,793
273,246,108
1,068,811,198
254,454,178
55,455,043
1,378,720,419
2015
Rs.

2014
!v
50,956,095
50,956,095
17,821,776
273,246,108
342,023,979
13,433,106
355,457,085
98
INSPIRING
GENERATIONS

$! $!!("om|7
v-| ;1;l0;u|_;-];-m-vbvo=|u-7;u;1;b-0;vbv-v=oov
Group
-v| ;0|mo|lr-bu;7
$o|-
;=ou;7-v
7-v
7-v
7-v
7-v
> 150 days
2015
2014
679,100,297
247,801,501
39,414,324
109,292,745
198,182,415
56,980,232
27,429,080
$o|-
;=ou;7-v
7-v
7-v
7-v
7-v
> 150 days
2015
2014
50,956,095
20,505,145
15,443,265
5,036,319
4,233,743
39,874
5,697,749
Company
-v| ;0|mo|lr-bu;7
11.2
!;m|-m7";ub1;_-u];!;1;b-0;-u;mo|bm|;u;v|0;-ubm]-m7v-7;b|_bm7-v$_;uor_o7vmo
1o-|;u-bmu;vr;1|o=|_;v;u;1;b-0;vo;;u|_;uorbvbm-rovbom|ou;1o;uom]o|v|-m7bm]7;v
=uolu;m|-7;rovb|v-m71v|ol;u7;rovb|vo0|-bm;7=uol1v|ol;uv-m7|;m-m|v
11.3
o;l;m|bm|_;-o-m1;=oublr-bul;m|bv-v=oov
Group
v-|
1 January
_-u];=ou|_;
Year
!;;uv-
v-|
31 December
!v
!v
!v
!v
2015
2014
15,564,685
(15,564,685)
&$" & !!$ !$"

Group
!;-omv_br
!;-|-m-];l;m|";ub1;v||7 Subsidiary
bu;h-ol;v||7
Sub-Subsidiary
-;o1hb|||7
Sub-Subsidiary
"_bm]-mm;v|l;m|-mh-
||7
;o"0vb7b-u
-m-];l;m|ourou-om
Condominium Plan 1824
Other Related Party
2015
Rs.

2014
!v
-
82,372

8,583,920
8,666,291
Company
2015
2014
Rs.
!v
3,233,524

158,224
82,372
8,583,920
12,058,039
99
"$$ $
"|-|;7-rb|-
--m1;-v-|-m-u
2015
2014
Rs.
!v
10,186,085,405
10,186,085,405
2015
2014
Number
Number
843,484,359
843,484,359
vv;o=v_-u;v7ubm]|_;+;-u
--m1;-v-| ;1;l0;u
l0;uo=u7bm-u"_-u;v
--m1;-v-|-m-u
vv;o=v_-u;v7ubm]|_;+;-u
--m1;-v-| ;1;l0;u
!"!("
!;--om!;v;u;
Group
2015
Rs.
2014
!v
2015
Rs.
2014
!v
--m1;-v-|-m-u
238,875,211
238,875,211
"urv7ubm]|_;+;-u
25,648,180
25,648,180
264,523,391
264,523,391
264,523,391
;=;uu;7$-@;1|
!;--om"urvub0|-0;|o
omom|uobm]m|;u;v|
--m1;-v-| ;1;l0;u
14.2
Company

264,523,391
!;--om!;v;u;u;ru;v;m|v|_;vurvu;-|;7|o|_;u;]-uu;--om-v;r-bm;7bmo|;
100 INSPIRING
GENERATIONS

$! ""$" $"
"_ou|$;ulm;v|l;m|
m;v|l;m|vbmom;-uh;| m7v
As At
!v
77bomv
!v
Fair Value
-bmovv
!v
v|
31.12.2015
Rs.
-l-b]_+b;7 m7
646,741,724
43,200,715
;0-mh"-bm]v
763,134,653
59,609,045
(7,620,545)
-];om;v m7
744,858,681
50,841,042
550,000,000
10,945,928
2,154,735,058
609,609,045
97,367,140
uorolr-m
-u7b-m1b|om;-uh;| m7
15.1.2 -bu-;vo=|_;m;v|l;m|vbmom;-uh;| m7v-u;-v1;u|-bm;7-mm-vbm]|_;mb|rub1;vo=;-1_$uv|

m7v$_;v;bm;v|l;m|v-u;1-uub;7bm|_;"|-|;l;m|o= bm-m1b-ovbom-|=-bu-;b|_1_-m];vbm=-bu-;
u;1o]mbv;7bmCm-m1;bm1ol;ouCm-m1;1ov|vbm|_;bm1ol;v|-|;l;m|-v7bv1ov;7bmmo|;
15.2.1 Group
2015
lom|v
!;r--0;
b|_bm+;-u
Rs.
o-m=uol-mho=;om

"!$ m7o-m
-mh;u7u-[v
2015
lom|v
!;r--0;
-[;u+;-u
Rs.
2015
$o|-
Rs.
2014
Amounts
Repayable
b|_bm+;-u
!v
2014
Amounts
Repayable
-[;u+;-u
!v
2014
Total
!v
920,500,000
920,500,000
50,004,000
95,801,000
145,805,000
15,292,951
15,292,951
985,796,951
95,801,000
1,081,597,951
2015
lom|v
!;r--0;
b|_bm+;-u
Rs.
2015
lom|v
!;r--0;
-[;u+;-u
Rs.
2015
$o|-
Rs.
2014
Amounts
Repayable
b|_bm+;-u
!v
2014
Amounts
Repayable
-[;u+;-u
!v
2014
Total
!v
50,004,000
95,801,000
145,805,000
50,004,000
95,801,000
145,805,000
olr-m
"!$ m7o-m
101
o-m-mho=;om
Loans
As At
Obtained
7ubm]|_;+;-u
!v
!v
"_-u;_o7;uo-m
Repayments
!v
1_-m];
b@;u;m1;
!v
v|
31.12.2015
Rs.
920,500,000
(929,115,898)
8,615,898
920,500,000
(929,115,898)
8,615,898
As at
!v
Loans
Obtained
7ubm]|_;+;-u
!v
Repayments
!v
v|
31.12.2015
Rs.
145,805,000
(50,004,000)
145,805,000
(50,004,000)
&mv;1u;7-mho-mv
"!$ m7o-m
15.2.5 $_; olr-m vb]m;7 -m mv;1u;7$;ul o-m]u;;l;m| om -u1_ b|_ -mh o= ;om |o
0ouuo!vlbbom-|-u-|;o=bm|;u;v|o=r-u;r--0;o;u-r;ubo7o=|;m;-uv=oobm]-]u-1;r;ubo7
o=C;;-uv11ou7bm]|_;u;r-l;m|-v|o0;]bmbmrub oobm]m;]o-omv|_;u;r-l;m|o=
1-rb|--v;|;m7;70-=u|_;u;-uv$_;Cuv|1-rb|-u;r-l;m||_;u;=ou;1oll;m1;7bm ;1;l0;u
102 INSPIRING
GENERATIONS

"$+$ $$+

Group
2015
Rs.
2014
!v
2015
Rs.
2014
!v
17,666,428
17,666,428
(7,525,810)
(10,960,983)
10,140,618
6,705,445
_-u];=ou|_;+;-u
4,421,922
1,959,666
1|-ub--bmovv
8,112,102
634,969
(1,399,900)
(947,810)
21,274,742
8,352,270
--m1;-v-|-m-u
Transferred to related companies
-l;m|v-7;7ubm]|_;+;-u
--m1;-v-| ;1;l0;u
Company
ov|lro;;;m;C|r;mv;=ou+;-um7; ;1;l0;u

Group
Company
2015
Rs.
2014
!v
2015
Rs.
2014
!v
Current Service Cost
3,205,048
1,155,013
Interest Cost
1,216,874
804,653
ov|lrol;m|;m;C|r;mv;
4,421,922
1,959,666
16.2
;vvuvb-"oom;;h;-m7vvo1b-|;v1|-ub;v1-uub;7o|-m-1|-ub---omo=|_;uor-v-|
;1;l0;urruorub-|;-m71olr-0;-vvlromv;u;v;7bm7;|;ulbmbm]|_;1ov|o=rov|;lrol;m|
0;m;C|v$_;rubm1br--vvlromvv;7-u;-v=oov
-
;lo]u-r_b1vvlromv
!;u;l;m|];
2015
2014
55 Years
55 Years
0
vvl;7u-|;o=;lro;;|umo;ubv=uol-];|o-];"1_bv;vl-|;7|o7;1u;-v;0;|;;m|o
bmu;vr;1|o=-];v|o=uol_b1_robm|om-u7vr|ou;u;l;m|b|bv;vl-|;7-|r-
1
bm-m1b-vvlromv
Discount Rate
Salary Increment Rate
r;1|;7;u-]; |u;)ouhbm]b=;o=lro;;
2015
2014
8%
10%
5.7 years
;-uv
";mvbb|o=vvlromvlro;7bm1|-ub-(--om
$_;=oobm]|-0;7;lomv|u-|;v|_;v;mvbb||o-u;-vom-0;rovvb0;1_-m];bm|_;h;-vvlromvv;7
b|_-o|_;u-ub-0;v_;71omv|-m|bm|_;rov|;lrol;m|0;m;C|b-0bb|l;-vu;l;m|bmu;vr;1|o=|_;;-u
$_;v;mvbb|o=|_;m1ol;"|-|;l;m|-m7"|-|;l;m|o= bm-m1b-ovbombv|_;;@;1|o=|_;-vvl;71_-m];v
bm7bv1om|u-|;-m7v--ubm1u;l;m|u-|;om|_;ruoC|ouovv-m7rov|;lrol;m|0;m;C|o0b]-om=ou|_;
;-u
103
m1u;-v; ;1u;-v;
In Discount Rate
@;1|omm1ol;
"|-|;l;m|u;71om
In Salary Increment increase in results for
Rate
the Year 2015
-1%
1%
!v

-1%
1%
Group
Company
2015
2015
@;1|omm1ol;
Performa Post "|-|;l;m|u;71om
lrol;m|;m;C| increase in results for
Liability 2015
the Year 2015
!v

Performa Post
lrol;m|;m;C|
Liability 2015
!v

!v

$! $!+"

Group
Trade Paybles - Related

-u;v
- Payable to Contractor
- Other
Other Payables
Rental Income Received in Advance
2015
Rs.
2014
!v
1,902,101
2,000,000
395,817,235
399,719,336
1,427,508
148,171,719
148,171,718
"m7uu;7b|ouvbm17bm]11u;7r;mv;v
275,905,512
186,150,956
825,224,075
334,322,674
712,305

1,189,796
1,902,101

$u-7;--0;v!;-|;7-u;v
"_bm]-m-m-];l;m|
|7
"_bm]-mm;v|l;m|
"bm]-rou;|;|7
Company
2014
!v
2015
Rs.
!;-omv_br
;o
Subsidiary
&l-|;
Parent
!$ &"$! "$"
Group
Rental Deposits
Customer Deposits
-vvbC;7&m7;u
uu;m|b-0bb;v
omuu;m|b-0bb;v
Company
2015
Rs.

2014
!v
840,698,153
63,538,117
904,236,270
2015
Rs.

2014
!v
840,698,153
840,698,153

904,236,270
-

840,698,153
-
104 INSPIRING
GENERATIONS

&$" &$!$ !$"

Group
!;-omv_br
bu;h--rb|--m7|
|7
-m-];l;m|ourou-om
Condominium Plan 1824
Subsidiary
Other Related
Party
bu;h-ol;v||7
Sub-Subsidiary
2014
!v
2015
Rs.
2014
!v
4,566,519
91,112
4,657,631
2015
Rs.
( " +
uorolr-m
Company
2015
2014
Rs.
!v
;1-u;7-m7-b77ubm]|_;+;-u
Equity Dividends on Ordinary Shares
bm-7bb7;m7=ou!v!v!v
1,223,052,321
1,223,052,321
5,315,525
5,315,525
bb7;m7v--0;-v-||_;;m7o=|_;+;-u
Dividends on Ordinary Shares Unclaimed
" "!$$! "$"

Group
-v_-m7-mh--m1;v
- ;rovb|v-m7 b;7 ;rovb|v
-mh;u7u-[
$o|--v_-m7-v_tb-;m|v=ou|_;
urov;o=-v_ o"|-|;l;m|
Company
2014
2015
2015
Rs.
!v
Rs.
397,503,577
772,502,999
1,170,006,576

(15,292,951)
2014
!v
208,589,637
584,246,530
792,836,167
-
1,154,713,625
792,836,167
105
"$
bm-m1;ov|
Group

m|;u;v|r;mv;omm|;u;v|;-ubm]o-mv
-m7ouuobm]v
Fair Value Adjustment on Rental Deposits
bm-m1;m1ol;
Income from Investments

m|;u;v|om b;7 ;rovb|v
m|;u;v|omo;uml;m|";1ub;v!
- Income from Investment in Fair Value
|_uo]_uoC|ovv
lou-omo= ;=;uu;7;-v;m|;u;v|
Income on Rental Deposits
2015
Rs.
2014
!v
2015
Rs.
2014
!v

5,997,750
26,573,264
32,571,014

3,301,385
26,573,264
29,874,649

79,070,040
1,482,838

70,851,236
-
78,821,858
78,821,858

28,026,112
187,400,848

28,026,112
177,699,206

45,170,452
19,176,471
64,346,923
74,295,453

74,295,453
|_;um1ol;
Dividend Income
Club House Income
Company
! $ !$*

"|-|;7-[;u_-u]bm]u;7bm]
Group
Directors Fee
7b|ouv!;lm;u-om
;ru;1b-om_-u];=ou|_;+;-u
1_-m];-bmovv
uoC|ovvom bvrov- bv1omm-omo=
Property, Plant and Equipment
lro;;;m;C|r;mv;vm17bm]|_;
=oobm]
;Cm;7;m;C|-mov|u-|b|
;Cm;7om|ub0om-mov| $
lou-omo=m|-m]b0;vv;|v
Company
2015
Rs.

2014
!v
6,275,000
3,394,173
12,268,739
10,212,200
2015
Rs.

2014
!v
6,275,000
1,525,000
7,790,129
825,997

4,421,922
9,740,434
5,268,799

1,959,666
7,698,124
1,470,252
106 INSPIRING
GENERATIONS

$**""
$_;l-fou1olrom;m|vo=bm1ol;|-;r;mv;=ou|_;;-uv;m7;7 ;1;l0;u-m7 ;1;l0;u

-u;-v=oov
Group
uu;m|m1ol;$-
uu;m|$-r;mv;om|_;um1ol;
&m7;u;uuobvbomo=uu;m|$-;vbm
respect of Prior Year
;=;uu;7$-
;=;uu;7$--om_-u];u;7b|o|;
m1ol;$-r;mv;u;7b|!;rou|;7bm|_;
24.2
Company
2015
Rs.
2014
!v
2015
Rs.
2014
!v
21,431,395
16,635,009
12,958,107
12,820,864
16,097,788
15,860,854
50,487,289
45,316,727
!;1om1bb-om0;|;;m|-;r;mv;-m7|_;ruo71|o=-11omm]ruoC|lrb;70|_;v|-||ou|-u-|;
bv-v=oov
Group
2015
Rs.
11omm]uoC|;=ou;$-
m1ol;;lr|;7=uol$-
;vv|_;um1ol;
]]u;]-|; bv-o;7|;lv
]]u;]-|;o-0-|;lv
;|uo[ovv=uol$u-7;
Other Income
Total Statutory Income
;vv$-ovv;v-bl;7
vv;vv-0;b-0;m1ol;$--0;m1ol;
m1ol;$--||_;"|-||ou!-|;
uu;m|$-r;mv;om|_;um1ol;
Company
2014
!v
2015
Rs.
2014
!v
3,386,423,366 2,480,204,821
(3,276,470,455) (2,388,803,674)

2,992,401

(36,404,617)
(31,990,401)

76,540,695

59,410,746

76,540,695

59,410,746

76,540,695

59,410,746

21,431,395

16,635,009

21,431,395

16,635,009
107
24.3
The abo; 1uu;m| |- ;r;mv; u;-|;v |o |_; bm|;u;v| bm1ol; -m7 o|_;u lbv1;-m;ov bm1ol; |_-| -u; mo|
1o;u;70|_;|-;;lrom;mfo;70;uv;-v!;-|;om-m7b|vv0vb7b-ub;v-v7;|-b;7bmmo|;
24.4
$_; 1-uub;7 =ou-u7 mb;7 |- ovv;v o= |_; olr-m -m7 uor u;vr;1; -v -| ;1;l0;u
-lom|;7|o!v-m7!v-m7u;vr;1;
25.
EARNINGS PER SHARE
25.1
-umbm]v;u"_-u;bv1-1-|;707bb7bm]|_;m;|ruoC|=ou|_;;-u-ub0|-0;|oou7bm-uv_-u;_o7;uv0
|_; ml0;u o= ou7bm-u v_-u;v o|v|-m7bm] 7ubm] |_;;-u$_;;b]_|;7 -;u-]; ml0;u o= ou7bm-u v_-u;v
o|v|-m7bm] 7ubm] |_;;-u -m7 |_; ru;bov;-u -u; -7fv|;7 =ou ;;m|v |_-| _-; 1_-m];7 |_; ml0;u o=
ordinary s_-u;vo|v|-m7bm]b|_o|-1ouu;vrom7bm]1_-m];bm|_;u;vou1;vv1_-v-0omvbvv;
25.2
$_;=oobm]u;Y;1|v|_;bm1ol;-m7v_-u;7-|-v;7bm|_;;-umbm]vr;uv_-u;1olr|-om
Group
lom|v&v;7-v|_;l;u-|ou
;|uoC|ub0|-0;|o"_-u;_o7;uv=ou-umbm]v;u"_-u;
l0;uo=u7bm-u"_-u;v&v;7-v|_; ;molbm-|ou
);b]_|;7;u-];l0;uo=u7bm-u"_-u;vbmvv;rrb1-0;|o
-umbm]v;u"_-u;
25.3
2015
Rs.
2014
!v
2,957,045,507
849,021,455
);b]_|;7;u-];l0;uo=u7bm-u"_-u;vbmvv;rrb1-0;|o-umbm]v;u"_-u;
Group
u7bm-u"_-u;v-||_;0;]bmmbm]o=|_;;-u
omv;l;m|om!b]_|vv;
@;1|o=!b]_|vv;
);b]_|;7;u-];l0;uo=u7bm-u"_-u;vbmvv;
2015
Rs.
2014
!v

843,484,359
5,537,096

849,021,455
108 INSPIRING
GENERATIONS

!$ !$+ ""&!"
$u-mv-1omvb|_!;-|;7m;v
&l-|;-u;m|m|
Group
2014
!v
2015
Rs.
Amounts Receivable as at 1 January
Amounts Payable as at 1 January
!;bl0uv;l;m|v";;l;m|v
Amounts Receivable as at 31 December
Amounts Payable as at 31 December
Company
2015
Rs.
2014
!v

(1,189,802)
1,189,802
-

"0vb7b-ub;v
!;m7;ubm]o=";ub1;v
27,550,222
(962,945)
22,782,835
(50,635,996)
3,233,523
(4,657,632)
;o"0vb7b-ub;v
Group
2015
Rs.
-m-];l;m| ;;
Receipt of Services

Company
2014
!v
(11,205,265)
1,200,000
10,087,637
82,372
-
2015
Rs.

2014
!v
(11,150,306)
1,200,000
10,032,678
82,372
-
$_; -0o; |u-mv-1omv -u; bm17;7 bm uu;m| b-0bb;v -vlom|v ; |o !;-|;7 -u;v -m7 bm uu;m|
vv;|v-vlom|v7;=uol!;-|;7-u;v
$;ulv-m7om7bomv
$u-mv-1omv b|_ u;-|;7 r-u;v -u; 1-uub;7 o| bm |_; ou7bm-u 1ouv; o= |_; 0vbm;vv |v|-m7bm] 1uu;m|
-11om|0--m1;v-|;-u;m7-u;mv;1u;7bm|;u;v|=u;;-m7v;;l;m|o11uvbm1-v_$_;bm|;momo=|_;
uorbv|ov;;v1_u;-|;7r-u|7;vb|_bm-v_ou||;ul;vv|_-mom;;-u
109
|_;u!;-|;7-u;v
-
-mho=;om"b]mbC1-m|m;v|ouo=-"0vb7b-u
Group
Company
2014
!v
2015
Rs.
2014
!v
2,034,288,145
195,809,000
2015
Rs.
bm-m1b-11ollo7-om
As at 1 January
Loans Granted
Loan Repayments
As at 31 December
(1,485,604,000)
(50,004,000)
1,081,597,951
145,805,000

532,913,806
$_; -0o; |u-mv-1omv -u; bm17;7 bm bm|;u;v| 0;-ubm] o-mv u|_;u |_; uor -m7 olr-m _-v 1uu;m|
-11om|vb|_u;vr;1;-lom|;7|o!v-m7!v!v
-m7!v_b;bm;v|l;m|bm!- b;77;rovb|v-lomm]|o!v-m7
!v !v -m7 !v ubm] |_; ;-u bm|;u;v| ;r;mv; om
-11om|o=Cm-m1b--11ollo7-omo0|-bm;7=uol-lom|;7|o!v-m7!v
!v -m7 _b; bm|;u;v| ;-um;7 -lom|;7 |o !v -m7 !v
!v-m7!v
|_;ul-;uvu;-|;7|o|_bvCm-m1b--11ollo7-om-u;]b;mbmo|;
0
-m-];l;m|ourou-omom7olbmbl-m
Group

Property Facility Fee
Company
2015
Rs.
2014
!v
2015
Rs.
2014
!v
24,286,667
24,286,667
(891,190)
22,440,000
22,440,000
;l0;uv_br ;;o;1|;7om0;_-=
(430,588,032) (430,588,032)
Due on account of Supply of Electricity
326,828,569
326,828,569
66,507,906
65,616,716
8,583,920
8,583,920
|_;ur;mv;oum;om0;_-=
-m-];l;m|ourou-omom7olbmbl-moourou-ombv-0o71ourou-|;1omv||;7om
bm|;ulvo=|_;ruobvbomvo=r-u|l;m|m;uv_brl;m7l;m|1|oo=rom|_;u;]bv|u-om
o=om7olbmbl-mo_b1_1om;u|;7|_;)ou7$u-7;;m|;ubm|o-om7olbmbluor;u|$_;
_-bul-mo=|_;om1bo=|_;ourou-om_b1_1omvbv|vo=-|_;om;uv1uu;m|om;uv;u;-rrobm|;7
0;uv;-v!;-|;om
110 INSPIRING
GENERATIONS

!$ !$+ ""&!"om|7
$u-mv-1omvb|_;-m-];l;m|;uvomm;o=|_;olr-moub|v"0vb7b-ub;v
-
$_;;-m-];l;m|;uvomm;-u;|_;l;l0;uvo=|_;o-u7o= bu;1|ouvo=|_;1olr-m-m7o=b|vr-u;m|
-m7|_;_b;=;1;L1;u-m7l;l0;uvo=|_;-m-];l;m|ollb;;o=|_;uor
-l;m|vl-7;|o;-m-];l;m|;uvomm;7ubm]|_;;-u;u;-v=oov
2015
Rs.
2014
!v
6,275,000
61,688,731
"_ou|$;ullrol;m|;m;C|v
7,905,020
ov|lrol;m|;m;C|v
7,400,358
83,269,109
Fees for Directors

Emoluments
$$"
v-||_;u;roum]7-|;|_;=oobm]-lom|v_-;0;;m-]u;;7-m71omv;t;m|1ollb;7|o=|u;1-rb|-
-m7or;u-m];r;m7b|u;bmu;vr;1|o=ruof;1|m7;u7;;orl;m|
Group
om|u-1|;70|mo|uob7;7=ou
m|;urubv;!;vou1;v-mmbm]
Havelock City Project
Company
2015
Rs.
2014
!v

1,162,157
187,000,000
188,162,157
2015
Rs.

2014
!v
1,162,157
1,162,157
;;uv o= u;7b| or;m;7 b|_ -mhv -oubm] "rrb;uv 0 |_; uor -m7 |_; olr-m -lom|;7 |o !v
-m7!vu;vr;1;
$"
;]--bl
$_; =oobm] ;m;v bm |_; uor -u; bmo;7 bm ;]- -1omv 7;v1ub0;7 0;o|_o]_ |_;u; 1-m 0; mo
-vvu-m1; |_; bu;1|ouv 0;b;; 0-v;7 om |_; bm=oul-om 1uu;m| --b-0; |_-| |_; l-|; u;voom o=
v1_;]-ruo1;7u;vo70;=-ou-0;|o|_;olr-m-m7|_;u;=ou;o7mo|_-;-m-7;uv;;@;1|om
|_;u;v|vo=or;u-omvouCm-m1b-rovbom11ou7bm]moruobvbom=ou-mb-0bb|_-v0;;ml-7;bm|_;v;
bm-m1b-"|-|;l;m|v
$_; olr-mv "0vb7b-u bu;h- -rb|- -m7 | |7-v -vv;vv;7 =ou(-;77;7$- ($ =ou r;ubo7v
0;|;;m-m-u-m7-m-u-lomm]|o!vmrvr;m-;v$_;olr-m-rr;-;7-]-bmv|
v-l;-m7C;7-)ub|rrb1-ombm|_;ou|o=rr;-|oru;;m|u;1o;u-1om0;bm]|-h;m0|_oub;v
$_;olr-m-rr;-;7-||_;$-rr;-ollbvvbom$om|_;v-l;l-;u-m7|_;$ ;|;ulbm-om_-v
0;;mbvv;77bvlbvvbm]|_;v-b7-rr;-o=|_;olr-m$_;olr-m-rr;-;7-]-bmv||_;$ ;|;ulbm-om
bm|_;ou|o=rr;-|_o]_|_;u;1-m0;mo-vvu-m1;|_; bu;1|ouv0;b;;0-v;7om|_;;r;u|-7bv;
u;1;b;7-m7|_;bm=oul-om1uu;m|--b-0;|_-||_;l-|;u;voomo=|_;v-b7;]-ruo1;;7bm]vo7
0;=-ou-0;|o|_;olr-m-m7|_;u;=ou;o7mo|_-;-m-7;uv;;@;1|om|_;u;v|vo=or;u-omvou
Cm-m1b-rovbom11ou7bm]moruobvbom=ou-mb-0bb|_-v0;;ml-7;bm|_;v; bm-m1b-"|-|;l;m|v
111
$_;olr-mv"0vb7b-ubu;h-ol;v||7_-v0;;m-vv;vv;7=ou"-lomm]|o!vm
rvr;m-;v-m7|_;olr-m_-v-rr;-;7-]-bmv|v-l; u|_;u|_; ;r-u|l;m|o=m-m7!;;m;_-vu-bv;7
-vv;vvl;m|v7bv-obm]mr|($o=!vm-m7|_;olr-m_-v-rr;-;7-]-bmv|v-l;|_o]_|_;u;
1-m0;mo-vvu-m1;|_; bu;1|ouv0;b;;0-v;7om|_;;r;u|-7bv;u;1;b;7-m7|_;bm=oul-om1uu;m|
--b-0; |_-| |_; l-|; u;voom o= -rr;- ;]- ruo1;;7bm]v o7 0; =-ou-0; |o |_; olr-m -m7
|_;u;=ou;o7mo|_-;-m-7;uv;;@;1|om|_;u;v|vo=or;u-omvouCm-m1b-rovbom
""$"
$_;olr-m_-vmo|r;7];7-m-vv;|=ou-m0vbm;vv|u-mv-1om
($"&! $!$!!$ $
$_; o-u7 o= bu;1|ouv o= |_; olr-m _-v 7;1-u;7 - bm- 7bb7;m7 o= !v r;u v_-u; =ou |_; Cm-m1b-
;-u;m7;7 ;1;l0;uvu;tbu;70v;1omo=|_;olr-mb;v1|oo=|_;o-u7
o= bu;1|ouv_-v1omCul;7|_-||_;olr-mv-vC;v|_;vo;m1|;v|bm-11ou7-m1;b|_v;1omo=|_;
olr-mb;v1|oo= bb7;m7bv|o0;-rruo;70"_-u;_o7;uv-||_;mm-;m;u-;;m]o=|_;
olr-m
!"$$(" "
$_; uor bv ;rov;7 |o bm|;u;v| u-|; ubvh =ou;b]m 1uu;m1 ubvh 1u;7b| ubvh -m7 btb7b| ubvh$_; olr-mv
o-u7o= bu;1|ouvo;uv;;v|_;l-m-];l;m|o=|_;v;ubvhv$_;o-u7o= bu;1|ouvbvvrrou|;70-m7b|
ollb;;|_-|-7bv;vomCm-m1b-ubvhv-m7|_;-rruorub-|;Cm-m1b-ubvh]o;um-m1;=u-l;ouh=ou|_;uor
$_;7b|ollb;;ruob7;v]b7-m1;|o|_;o-u7o= bu;1|ouv|_-||_;uorvCm-m1b-ubvh|-hbm]-1b;v
-u;]o;um;70-rruorub-|;rob1b;v-m7ruo1;7u;v-m7|_-|Cm-m1b-ubvhv-u;b7;mC;7l;-vu;7-m7l-m-];7
bm-11ou7-m1;b|_rob1b;v
$_;o-u7o= bu;1|ouvu;b;v-m7-]u;;vrob1b;v=oul-m-]bm];-1_o=|_;v;ubvhv_b1_-u;vll-ubv;70;o
-uh;|!bvh
-uh;|ubvhbv|_;ubvh|_-|1_-m];vbml-uh;|rub1;vv1_-v=ou;b]m;1_-m];u-|;vbm|;u;v|u-|;v-m7mb|rub1;v
b-@;1||_;uorvbm1ol;ou|_;-;o=b|v_o7bm]vo=Cm-m1b-bmv|ul;m|v
m-m-vbvo=|_;1-uubm]-lom|o=Cm-m1b-bmv|ul;m|v0-v;7om|_;1uu;m1|_;-u;7;molbm-|;7-u;-v
=oov
Denominated in
!
Denominated
in USD
83,556,767
360,017
Short Term Deposits
1,367,433,942
1,039,650
2,861,711,243
45,797,000
53,882,862
351,214
Short Term Deposits
1,187,433,942
754,650
Other Financial Assets (Unit Trust Investments)
2,861,711,243
45,797,000
Group
-v_-|-mh-m7bm-m7
m|;u;v|;-ubm]o-mvouuobm]v
Company
-v_-|-mh-m7bm-m7
m|;u;v|;-ubm]o-mvouuobm]v
112 INSPIRING
GENERATIONS

!"$$(" "om|7
-
m|;u;v|!-|;!bvh
m|;u;v|u-|;ubvhbv|_;ubvh|_-||_;=-bu-;ou=|u;1-v_Yovo=-Cm-m1b-bmv|ul;m|bY1|-|;0;1-v;
o=1_-m];vbml-uh;|bm|;u;v|u-|;v$_;uorv;rovu;|o|_;ubvho=1_-m];vbml-uh;|bm|;u;v|u-|;vu;-|;v
rubl-ub|o|_;uorvom]|;ul7;0|o0b]-omv$_;uorl-m-];vb|vbm|;u;v|u-|;ubvh0lomb|oubm]-m7
l-m-]bm]o=1-v_Yo0h;;rbm]0ouuobm]v|o-lbmbll-m7m;]o-m]=-ou-0;u-|;vom0ouuobm]v-m7
7;rovb|v-m700ouuobm]-|C;7u-|;v
0
ou;b]muu;m1!bvh
$_; uorv ;rovu; |o |_; ubvh o= 1_-m];v bm =ou;b]m ;1_-m]; u-|;v u;-|;v rubl-ub |o |_; uorv &"
7;molbm-|;7o-mv=ou|_;-;o1hb|uof;1|
$_;uorl-m-];vb|v=ou;b]m1uu;m1ubvh0;m|;ubm]bm|o1omv|u1om1om|u-1|vbm!-m70b7bm]bm|_;
=ou;b]m;1_-m];ovvbm|o|_;1ov|o=7;;orl;m|
$_; =oobm] |-0; 7;lomv|u-|;v |_; v;mvbb| |o - u;-vom-0 rovvb0; 1_-m]; bm |_; &" 7o-u ;1_-m];
u-|;b|_-o|_;u-ub-0;v_;71omv|-m|om|_;uorvruoC|0;=ou;|-7;|orovvb0;1_-m];vbm|_;&"
;1_-m];u-|;om|_;uorv&" 7;molbm-|;7bm|;u;v|0;-ubm]o-m
2015
;u-];o-m
Value
Year End
1_-m];!-|;
&" m
_-m];m&" @;1|omuoC|
Rate
;=ou;$-
6,165,845
u;7b|!bvh
u;7b|ubvhbv|_;ubvh|_-|-1om|;ur-u|bmo|l;;|b|vo0b]-omvm7;u-Cm-m1b-bmv|ul;m|ou1v|ol;u
1om|u-1|;-7bm]|o-Cm-m1b-ovv$_;uorbv;rov;7|o1u;7b|ubvh=uolb|vor;u-m]-1b;vrubl-ub=ou
|u-7;u;1;b-0;v-m7=uolb|vCm-m1bm]-1b;vbm17bm]7;rovb|vb|_0-mhv-m7Cm-m1b-bmv|omv
$u-7;!;1;b-0;v
v|ol;u1u;7b|ubvhbvl-m-];70;-1_0vbm;vvmb|v0f;1||o|_;uorv;v|-0bv_;7rob1ruo1;7u;v-m7
1om|uou;-m]|o1v|ol;u1u;7b|ubvhl-m-];l;m|
$_;=oobm]ru-11;v-u;blr;l;m|;7b|_bm|_;uorbmou7;u|ol-m-];1u;7b|ubvhu;-|;7|ou;1;b-0;v
7;t-|;1v|ol;u7;rovb|v-u;1o;1|;7=uol;vv;;vo=;-v;7ruor;u|
|v|-m7bm]1v|ol;uu;1;b-0;v-u;u;]-ulomb|ou;7b|_u;]-u|u-7;7;0|ouu;b;l;;m]v
om|u-1|-o0b]-om|ou;;-v;-vv;|vomrom=r-l;m|o=u;1;b-0;=ouu;-|;71om|u-1|v-m7-vv;|v
u;7b|t-b|bm=oul-ombvruob7;7bmo|;
113
btb7b|ubvh
$_;uorlomb|ouvb|vubvh|o-v_ou|-];o==m7v0=ou;1-vm]b|vor;u-om-1-v_u;tbu;l;m|vom-m-mm-
0-vbv -m7 =ou;1-v|v 1-v_ Yo u;tbu;l;m|v -v r;u |_; ruof;1| blr;l;m|-om r;ubo7 $_; uorv o0f;1;
bv|ol-bm|-bm-0--m1;0;|;;m1ommb|o==m7bm]-m7Y;b0bb||_uo]_|_;v;o=0-mho;u7u-[v-m7
0-mho-mv11;vv|ovou1;vo==m7bm]bvvL1b;m|--b-0;-m7Cm-m1bm]=ou1uu;m|or;u-omvbv-u;-7
v;1u;7
$_; |-0; 0;o vll-ubv;v |_; l-|ub| ruoC; o= |_; uorv Cm-m1b- b-0bb;v 0-v;7 om 1om|u-1|-
m7bv1om|;7r-l;m|v
Group
Trade and Other
Payables
m|;u;v|;-ubm]o-mv
-m7ouuobm]v
Rental and Customer
Deposit
Company
Trade and Other
Payables
m|;u;v|;-ubm]
Loans and
ouuobm]v
Rental and
Customer
Deposit
On
Demand
!v
Less than
om|_v
!v
3 to 12
om|_v
!v
1 to 5
Years
!v
ou;|_-m
5 Years
!v
$o|-
Rs.
782,166,170
50,004,000
45,797,000
20,750,046
119,556,896 1,079,626,858
-
20,750,046
930,049,006 1125 ,432,858
-
On
Demand
!v
Less than
om|_v
!v
3 to 12
om|_v
!v
1 to 5
Years
!v
ou;|_-m
5 Years
!v
$o|-
Rs.
329,331,292
50,004,000
45,797,000
20,750,046
20,750,046
97,878,836
477,214,128
756,840,446
802,637,446
-
-
32.
CAPITAL MANAGEMENT
$_;v|-|;71-rb|-o=|_;olr-m-m7uoru;v;u;v-u;]b;mbmo|;-m7
!(&"
";|o|0;obv-1olr-ubvomo=|_;1-uubm]-lom|v-m7=-bu-;vo=|_;uorvCm-m1b-bmv|ul;m|v0
1-vv;v|_-|-u;mo|1-uub;7-|=-bu-;bm|_;Cm-m1b-v|-|;l;m|v
$_bv|-0;7o;vmo|bm17;|_;=-bu-;vo=momCm-m1b--vv;|v-m7momCm-m1b-b-0bb;v
114 INSPIRING
GENERATIONS

!(&"om|7
Group
bm-m1b-vv;|v
lom|v ;=uol!;-|;7-u;v
$o|-
bm-m1b-b-0bb;v
(Non-Current)
lom|v ;|o!;-|;7-u;v
(Current)
(Current)
$o|-
Company
bm-m1b-vv;|v
Amounts Due from Related
-u;v
$o|-
bm-m1b-b-0bb;v
m|;u;v|;-ubm]o-mv-m7
ouuobm]vomuu;m|
lom|v ;|o!;-|;7-u;v
ouuobm]vuu;m|
Rental Deposits (Current)
$o|-
o|;
-uubm]lom|
2014
2015
Rs.
!v
-bu(-;
2015
Rs.
2014
!v

1,068,811,198
8,666,291
2,154,735,058
1,170,006,576
4,402,219,123

1,068,811,198
8,666,291
2,154,735,058
1,170,006,576
4,402,219,123
A

95,801,000
825,224,075
-

95,801,000
825,224,075
-
985,796,951
985,796,951

932,326,755
2,839,148,781

904,236,270
2,811,058,296
o|;

A

C
-uubm]lom|
2014
2015
Rs.
!v
342,023,979
-bu(-;
2015
Rs.
2014
!v
342,023,979

12,058,039

12,058,039
2,154,735,058 2,154,735,058
792,836,167 792,836,167
3,301,653,243 3,301,653,243

95,801,000
334,322,674
4,657,631

95,801,000
334,322,674
4,657,631

50,004,000

50,004,000

812,607,668

840,698,153
1,297,392,974 1,325,483,459
115
$_;=-bu-;vo=|_;Cm-m1b--vv;|v-m7b-0bb;v-u;bm17;7-||_;-lom|-|_b1_|_;bmv|ul;m|1o7
0; ;1_-m];7 bm - 1uu;m| |u-mv-1om 0;|;;mbbm] r-u;v o|_;u |_-m bm - =ou1;7 ou btb7-om v-;$_;
=oobm]l;|_o7v-m7-vvlromv;u;v;7|o;vl-|;|_;=-bu-;v
om]|;ul C;7u-|; u;1;b-0;v0ouuobm]v -u; ;--|;7 0-v;7 om r-u-l;|;uv v1_ -v bm|;u;v| u-|;v ubvh
1_-u-1|;ubv1vo=|_;Cm-m1;7ruof;1|;|1v-| ;1;l0;u|_;1-uubm]-lom|vo=v1_0ouuobm]v
-u;mo|l-|;ub-7b@;u;m|=uol|_;bu1-1-|;7=-bu-;v

-v_-m7v_ou||;ul7;rovb|v|u-7;u;1;b-0;v|u-7;r--0;v-m7o|_;u1uu;m|b-0bb;v-rruobl-|;|_;bu
1-uubm]-lom|v-u];7;|o|_;v_ou||;ull-|ub;vo=|_;v;bmv|ul;m|v

$_;=-bu-;o=u;m|-7;rovb|vo|_;u|_-mb-0bb;vb|_l-|ub;vb|_bmlom|_v1-uub;7-|-louv;71ov|
-u;;vl-|;701olr-ubm]l-uh;|bm|;u;v|u-|;v_;m|_;;u;Cuv|u;1o]mbv;7b|_1uu;m|l-uh;|u-|;v=ou
vblb-uCm-m1b-bmv|ul;m|v!;m|-7;rovb|v=-bm|o|_;1-|;]ou;;o= -bu-;_b;u-u1_
-
-bu-;_b;u-u1_
$_;uorv;v|_;=oobm]_b;u-u1_=ou7;|;ulbmbm]-m77bv1ovbm]|_;=-bu-;o=Cm-m1b--vv;|v0--om
|;1_mbt;
;;to|;7m-7fv|;7rub1;vbm-1;l-uh;|v=oub7;m1--vv;|voub-0bb;v
;; o|_;u |;1_mbt;v =ou _b1_ - bmr|v _b1_ _-; - vb]mbC1-m| ;@;1| om |_; u;1ou7;7 =-bu -; -u;
o0v;u-0;;b|_;u7bu;1|oubm7bu;1|
;;|;1_mbt;v_b1_v;bmr|v|_-|_-;-vb]mbC1-m|;@;1|om|_;u;1ou7;7=-bu-;|_-|-u;mo|0-v;7
on observable market data
v-| ;1;l0;u|_;uor_;7|_;=oobm]Cm-m1b-bmv|ul;m|v1-uub;7-|=-bu-;om|_;v|-|;l;m|
o=Cm-m1b-rovbom
0
bm-m1b-vv;|vl;-vu;7-|=-bu-;
"_ou|$;ulm;v|l;m|vo|;
2015
Rs.
Level 1
Level 2
!v
!v
- 2,861,711,243
Level 3
!v
-
ubm]|_;u;roum]r;ubo7;m7bm] ;1;l0;u|_;u;;u;mo|u-mv=;uv0;|;;m;;-m7;;=-bu
-;l;-vu;l;m|v
+"" ""$" $"+"&!$""
bm-m1b--vv;|v-m7Cm-m1b-b-0bb;v-u;l;-vu;7om-mom]obm]0-vbv-|;b|_;u=-bu-;ou-louv;71ov|
$_;vll-uo=vb]mbC1-m|-11omm]rob1b;v7;v1ub0;v_o|_;1-vv;vo=Cm-m1b-bmv|ul;m|v-u;l;-vu;7
-m7_obm1ol;-m7;r;mv;vbm17bm]=-bu-;]-bmv-m7ovv;v-u;u;1o]mbv;7$_;=oobm]|-0;-m-v;
|_;1-uubm]-lom|o=Cm-m1b--vv;|v-m7b-0bb;v01-|;]ou-v7;Cm;7bm" bm-m1b-mv|ul;m|v
!;1o]mbom-m7l;-vu;l;m|-m70"|-|;l;m|o= bm-m1b-ovbom_;-7bm]
bm-m1b-b-0bb;v
ouuobm]vomuu;m|
lom|v ;|o!;-|;7-u;v
ouuobm]vuu;m|
(Current)
$o|- bm-m1b-b-0bb;v
bm-m1b-vv;|v
$o|- bm-m1b-vv;|v
875,469,328

50,004,000
45,797,000
782,166,170
21,171,041
590,845,345
996,488
1,666,099,117
2,861,711,243
875,469,328
50,004,000
45,797,000
329,331,292
24,436,521
403,674,215
9,843,740
1,400,284,722
bm-m1b-vv;|v-m7b-0bb;v
-|louv;7ov|
Group
Company
Rs.
Rs.
2,861,711,243
bm-m1b-vv;|v;7=ou
$u-7bm]-| -bu(-;
Group
Company
Rs.
Rs.
uorolr-m
+"" ""$" $"+"&!$""om|7
875,469,328
50,004,000
45,797,000
782,166,170
21,171,041
590,845,345
996,488
2,861,711,243
1,666,099,117
Company
Rs.
875,469,328
50,004,000
45,797,000
329,331,292
24,436,521
403,674,215
9,843,740
2,861,711,243
1,400,284,722
$o|-
Group
Rs.
116 INSPIRING
GENERATIONS
bm-m1b-b-0bb;v
ouuobm]vomuu;m|
lom|v ;|o!;-|;7-u;v
ouuobm]vuu;m|
(Current)
$o|- bm-m1b-b-0bb;v
bm-m1b-vv;|v
$o|- bm-m1b-vv;|v
uorolr-m
2,154,735,058
2,154,735,058
bm-m1b-vv;|v;7=ou
$u-7bm]-| -bu(-;
Group
Company
Rs.
Rs.
904,236,270
985,796,951
95,801,000
825,224,075
-
1,068,811,198
8,666,291
1,170,006,576
840,698,153
50,004,000
95,801,000
334,322,674
4,657,631
342,023,979
12,058,039
792,836,167
bm-m1b-vv;|v-m7b-0bb;v
-|louv;7ov|
Group
Company
Rs.
Rs.
904,236,270
985,796,951
95,801,000
825,224,075
-
1,068,811,198
8,666,291
2,861,711,243
1,170,006,576
Company
Rs.

50,004,000
95,801,000
334,322,674
4,657,631
342,023,979
12,058,039
2,154,735,058
792,836,167
$o|-
Group
Rs.
117
118 INSPIRING
GENERATIONS
Group Performance - Ten Year Summary

2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
Rental Revenue
Revenue from Other Services
Apartment Revenue
$o|-!;;m;

205

1,764
104
4,329
6,198
1,590
69
3,190
4,848
1,339
54
554
1,948
850
57
1,588
2,495
697
51
950
1,698
666
41
1,234
1,941
805
42
598
1,445
716
35
379
1,130
874
48
922
bu;1|r;u-m]r;mv;v
Cost of Sales of Apartment
uovvuoC|

(482)
(3,308)
2,408
(424)
(2,635)
1,789
(426)
(397)
1,125
(338)
(1,231)
926
(329)
(633)
736
(334)
(1,051)
556
(350)
(403)
692
(271)
(328)
531
(313)
609
Fair Value Gain on Investment

Property
|_;ur;u-m]r;mv;v
;| bm-m1;m1ol;r;mv;
uoC|=uolr;u-m]1b;v

1,016
(266)
155
3,312
930
(268)
175
2,626
1,563
(260)
176
2,604
2,123
(270)
27
2,806
473
(274)
(94)
841
1,019
(187)
3
1,391
1,388
(202)
43
1,921
1,834
(178)
43
2,230
1,683
(159)
(109)
2,024
Other Income
1_-m];-bmovv
;|uoC|;=ou;$-

10
64
10
3,386
15
2,641
(85)
2,519
(40)
2,766
84
925
1,391
(88)
1,833
2,230
2,024
m1ol;$-;v
;|uoC|[;u$-

(50)
3,336
(2)
2,639
(51)
2,468
(25)
2,741
(11)
914
(7)
1,384
(16)
1,817
(17)
2,213
(6)
2,018

40
2,957
379
3,336
2,435
204
2,639
2,469
(1)
2,468
2,681
60
2,741
844
70
914
1,342
43
1,384
1,783
33
1,817
2,197
16
2,213
2,021
(3)
2,018
!vm
"$$$ ! $!""
uoC|ub0|-0;|otb|
Holders of the Parent
om1om|uobm]m|;u;v|
"$$$ "$
vv;|v
omuu;m|vv;|v
Investment Property
uor;u|-m|tbrl;m|
m|-m]b0;vv;|v
Inventory
;=;uu;7$-vv;|v
uu;m|vv;|v
Inventory
$u-7;|_;u!;1;b-0;v
Amounts due From Related
-u;v
m1ol;$-!;1o;u-0;
-v_"_ou|$;ul ;rovb|v
$$""$"
tb|b-0bb;v
Stated Capital
!;--om!;v;u;
!;|-bm;7-umbm]v
tb|ub0|-0;|otb|
Holders
bmoub|m|;u;v|
$o|-tb|
21,405 20,389 19,459 17,884 15,751 15,278 14,259 12,870 11,203

1,559
703
644
395
254
246
236
215
51
12
14
18
18
26
30
35
15
16
16
2,125
1,785

27
41
25,130 22,937 20,122 18,305 16,035 15,560 14,510 13,101 11,270
272
424
1,379
3,565
1,448
4,129
1,839
3,167
1,563
3,981
1,275
4,093
1,635
4,226
971
3,108
579
2,210
468
1
9
25
14
25
53
4
22
3
17

10
2
1
1
2,155
1,236
1,170
1,680
1,811
2,197
1,008
177
244
902
462
5,146
7,956
7,793
6,952
6,318
5,910
5,462
4,592
3,156
30,276 30,893 27,915 25,257 22,353 21,470 19,972 17,693 14,426
10,186 10,186 10,186 10,186 10,186

265
239
216
165
149
15,478 13,750 11,559 9,343
6,915
9,713
135
6,283
9,713
112
5,241
9,713
80
3,813
9,713
1,939
25,929 24,175 21,961 19,694 17,250 16,131 15,066 13,606 11,652

1,507
1,147
943
963
903
833
791
758
741
27,436 25,322 22,904 20,657 18,153 16,964 15,857 14,364 12,394
119
!vm
omuu;m|b-0bb;v
m|;u;v|;-ubm]o-mv
ouuobm]v
omm|;u;v|;-ubm]o-mv
ouuobm]v
Customer Deposit
;=;uu;7$-b0bb|
$o|-omuu;m|b-0bb;v
uu;m|b-0bb;v
$u-7;|_;u--0;v
!;m|-v|ol;u ;rovb|v
lom|v ;|o!;-|;7-u;v
m|;u;v|;-ubm]o-mv
ouuobm]v
omm|;u;v|;-ubm]o-mv
ouuobm]v
m1ol;$---0;
Dividend Payable
$o|-uu;m|b-0bb;v
$o|-tb|b-0bb;v
-umbm]v;u"_-u;
-umbm]v;u"_-u;
17bm] -bu(-;-bmv
Dividend Per Share
Net Asset Value Per Share
"_-u;(-;b]_
"_-u;(-;o
uu;m|!-o
Return on equity (%)
Total Debt to Total Assets (%)
;0|tb|!-o
Return on Assets (%)
Asset Turnover (%)
bb7;m7-o|!-o
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
46
96
146
196
246
2,194
1,549
567
1,135
1,106

27
323
23
413
21
117
18
163
27
223
23
269
1
21
2,216
2
20
1,571
3
18
588
4
15
1,154
12
1,118

21
825
904
-
1,594
1,888
12
543
2,082
20
697
976
9
871
418
9
831
440
26
996
925
13
2,056
19
845
10
50
986
1,888
2,117
2,636
683
1,596
1,587
50
2
5
2,723
21
3
5,407
24
3
4,788
1
10
2
4,331
1
2
1,984
1
39
2,935
1
4
1
3,527
1
11
38
2,175
18
3
38
914

4
7
30,276 30,893 27,915 25,257 22,353 21,470 19,972 17,694 14,426

3.44

1.50

32.22
24.10
20.50

3.27

13%
11%
11%
14%
5%
8%
12%
17%
23%
9%
18%
18%
18%
19%
21%
21%
19%
14%
4%
8%
11%
15%
17%
19%
14%
9%
9%
11%
9%
9%
11%
4%
6%
9%
13%
14%
20%
16%
7%
10%
8%
9%
7%
6%
6%
42%
10%
10%
9%
21%
18%
16%
8%
0%
$ $!"
!;|umomtb|
;|vv;|(-;;u"_-u;
uoC|ub0|-0; |o tb| o7;uv 7bb7;7 0;u-];

tb|ub0|-0;|otb|o7;uvo=|_;-u;m|
tb|ub0|-0;|otb|o7;uvo=|_;-u;m|7bb7;7
0 |_; ;b]_|;7 -;u-]; ml0;u o= ou7bm-u v_-u;v bm
bvv;
$o|- ;0||o$o|-vv;|v
uu;m|!-o
$o|-omuu;m|b-0bb;v-m7$o|-uu;m|b-0bb;v
divided by Total Assets
$o|-uu;m|vv;|v7bb7;70$o|-uu;m|b-0bb;v
;0|tb|!-o
Asset Turnover
$o|- m|;u;v| ;-ubm] o-mv -m7 ouuobm] 7bb7;7 0

tb|ub0|-0;|otb|o7;uvo=|_;-u;m|
$o|-!;;m;7bb7;70$o|-;u-];vv;|v
120 INSPIRING
GENERATIONS
Shareholder Information
"$$ $
v| ;1;l0;u 31st December 2014
vv;-m7 r-b7-rb|-!v
No of Shares
Class of Shares
(om]!b]_|v
10,186,085,405

843,484,359
Ordinary Shares
One Vote per Ordinary Share
"$*"$

$_;bvv;7ou7bm-uv_-u;vo=;uv;-v!;-|;om-u;bv|;7b|_|_;ool0o"|o1h1_-m];o="ub-mh-
! !+"! !""$"$ !

$_;ml0;uo="_-u;o7;uv-v-|v| ;1;l0;u-vv-|v| ;1;l0;u
"_-u;_o7bm]v
oo=
Shareholders
1
- 1,000
1,001 - 10,000
10,001 - 100,000
100,001 - 1,000,000
Over 1,000,000
Resident
Non Resident
Total
oo= ;u1;m|-];
oo=
oo= ;u1;m|-];
oo=
;u1;m|-];
Shares
(%) Shareholders
Shares
(%) Shareholders oo="_-u;v
(%)
2,280
783,279
1,404
5,540,965
489 14,675,222
93 26,319,638
13 63,117,500

19
9,175
19
91,765
22
815,994
15
4,607,813
7 771,916,922

2,299
792,454
1,423
5,632,730
511 15,491,216
108 30,927,451
20 835,034,422

Categories of Shareholders
-|;]ou
Individual
mv|om-
vo= ;1;l0;u
As of 31 December 2014
oo="_-u;_o7;uv
oo="_-u;v oo="_-u;_o7;uv
oo="_-u;v

3,402
233
3,635
27,998,830
815,485,529
843,484,359
"!$! !$

Year Ended
b]_;v|
o;v|
Last Traded Price
l0;uo=$u-mv-1omv
Number of Shares Traded
(-;o="_-u;v$u-7;7!v
31 December 2015
-|;
ub1;!v
12.01.2015
30.10.2015
31.12.2015

20.50
23.20
31 December 2014
Date
ub1;!v

31 December 2015
31 December 2014
11,646

59,804,709
1,418,778,653
121
( "

31 December 2015
31 December 2014
bb7;m7v;u"_-u;!v
1.50
Dividend Payout (%)
43.6
!$!""! "

$_;"_-u;_o7bm]o=|_; bu;1|ouv-||_;0;]bmmbm]-m7-||_;;m7o=|_;;-u-v-v=oov
Name of Director
v| ;1;l0;u
oo="_-u;v
u"_bm];;$-o
u;bm+-ro_bm
uvb7u;7$-om]
uvv;bm,0bu;-vvbl
umbm]m]
uv!o_bmb;--m--hh-uufb|_-_;m7u- ;"b---u-|m;
u;vb;!-r_ ;-m;uo;
u$bvv-l-u--m7-u-m--h;
u!-m;;--l-_uu-bu _-mov_"-l-u-vbm]_;
b
b
b
b
b
b
b
b
b
b
31st December 2014

No of Shares
Nil
Nil
Nil
Nil
380,000
Nil
Nil
Nil
Nil
Nil
Nil
122 INSPIRING
GENERATIONS
Shareholder Information
$$)$+"! !""$"$ !
Name
v-|v| ;1
"_-u;_o7bm] ;u1;m|-];
1
2
3
4
5
"_bm]-mm;v|l;m|olr-mblb|;7
&mb|b7;uvblb|;7
;uv_bm]";u0-1_u-vomo
"_bm]-mm;v|l;m|"bm]-rou;|;|7
;or;v-mh
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Employees Provident Fund
_brr;uC;7m;v|l;m|vblb|;7
"ub-mh-mvu-m1;ourou-om|7b=; m7
-mho=;omo
o1ov_;ub-|;|7
;|v1_;-mh"$uv|;;=ou(( m7
ub;m|-;-um|;um-om-m1
)--vub-o||7
;omm;v|l;m|
";-m-mh1"lr_om-rb|-|7
u-|-l!-_
u"0-vbm]_;
u);;u-vbm]_;
$bl;-ul;m|v||7
u";-l-];m7uTotal
Held by other Shareholders

$o|-ml0;uo=u7bm-u"_-u;v

0b1o7bm]
Others
Total
As at 31st Dec 2014

"_-u;_o7bm] ;u1;m|-];
453,366,580
26.12 220,156,488
22,532,245
2.56
21,573,450
2.46
20,722,353
1.67
0.52
0.45
0.35
0.35
0.30
0.25
0.24
0.22
0.13
0.12
0.12
0.12
0.11
94.72
100.00
17.47
100.00
32,600,473
7,671,300
3,472,300
3,773,250
3,690,288
2,550,000
1,869,701
1,200,000
1,750,051
1,005,500
892,093
1,000,000
910,150
42,748,137
148,007,841
695,476,518
94.94
100.00
100.00
123
&"!

v|
December
2015
31st
December
2014
"_bm]-mm;v|l;m|volr-mblb|;7
&mb|b7;uvblb|;7
"_bm]-mm;v|l;m|"bm]-rou;|;|7

453,366,580
220,156,488
21,573,450
695,096,518
vv;7ml0;uo=ou7bm-uv_-u;v-v-| ;1;l0;u
Less
-u;m|uor
Subsidiaries
;uo7bm]
bu;1|ouv"_-u;_o7bm]
Spouses of Directors and CEO
0b1o7bm]
0b1o7bm]-v-r;u1;m|-];o=vv;7u7bm-u"_-u;v
843,484,359

453,366,580
241,729,938
380,000
148,007,841
-u;m|uor"0vb7b-u
124 INSPIRING
GENERATIONS
Group Land Portfolio

o1-om
Land Extent
!
-uh;|(-;
!vm
Echelon Squire,
ool0o
WTC Building
4,000
No 34,
Havelock City,
ool0o
Clubhouse Building
22
426
13 2
19
5,829
No 34,
Havelock City,
ool0o
Category
Investment Property
uor;u|-m|tbrl;m|
m;m|ouom]|;ulvv;|v
125
Notice of Meeting
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;m;u- ;;m] o= (!"" !$+ +
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|_;-;o1hb|0ov;o-;o1h!o-7
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bu7bm-u!;voom

$o u;1;b; -m7 1omvb7;u |_; !;rou| o= |_; o-u7 o=
Directors and the Financial Statement as at 31st
December 2015 and the Report of the Auditors
|_;u;om
$o 7;1-u; - buv| -m7 bm- bb7;m7 o= !v r;u
u7bm-u"_-u;bmu;vr;1|o=|_;Cm-m1b-;-u;m7;7
31st December 2015 as recommended by the
bu;1|ouv
$o u;;;1| -v - bu;1|ou u !-m;; --l-_- _o
u;u;v0uo|-ombm|;ulvo=u1;o=|_;u1;v
o=vvo1b-omo=|_;olr-m-m70;bm];b]b0;_-v
o@;u;7_;uv;==ouu;;;1om
u7bm-u!;voom
$_-||_;-];blb|o=;-uvu;=;uu;7|obm";1om
o=|_;olr-mb;v1|oo=v_-mo|
-rr|o"$_o--bm;7|_;-];o=
70 years on 25th December 1986 and that he be
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bbu7bm-u!;voom
$_-||_;-];blb|o=;-uvu;=;uu;7|obm";1om
-rr|o&"",&!""_o--bm;7
|_; -]; o= ;-uv om |_ ";r|;l0;u -m7
|_-|_;0;u;;;1|;7-v- bu;1|ouo=|_;olr-m
$_-||_;-];blb|o=;-uvu;=;uu;7|obm";1om
o= |_; olr-mb;v 1| o o= v_-
mo|-rr|o+_o--bm;7|_;-];
of 70 years on 2nd February 2011 and that he be
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bu7bm-u!;voom
bu7bm-u!;voom
$_-||_;-];blb|o=;-uvu;=;uu;7|obm";1om
-rr|o$ ! "(+!$
_o --bm;7 |_; -]; o= ;-uv om |_ rub
2010 and that he be re-elected as a Director of the
olr-m
$_-||_;-];blb|o=;-uvu;=;uu;7|obm";1om
o= |_; olr-mb;v 1| o o= v_-
mo|-rr|o$""&! !+
_o--bm;7|_;-];o=;-uvomu7-m-u
2013 and that he be re-elected as a Director of the
olr-m
bbu7bm-u!;voom
$_-||_;-];blb|o=;-uvu;=;uu;7|obm";1om
o= |_; olr-mb;v 1| o o= v_-
mo|-rr|o"! !_o
--bm;7|_;-];o=;-uvom|_-m-u
and that he be re-elected as a Director of the
olr-m
$o u;-rrobm| ;vvuv umv| +om] _-u|;7

Accountants, as Auditors to the Company and
|o -|_oub; |_; bu;1|ouv |o 7;|;ulbm; |_;bu
u;lm;u-om
bbbu7bm-u!;voom
$_-||_;-];blb|o=;-uvu;=;uu;7|obm";1om
-rr |o ! $$$ +!_o
--bm;7 |_; -]; o= ;-uv om |_rub
and that she be re-elected as a Director of the
olr-m
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;uv;-v!;-|;om
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Company Secretary
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Notes
Notes
Notes

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We have entered

entere a new phase of growth. We have made

Fair Value Gain (FVG)

$ 17bm] (-u]bm

For the year ended 31st December

STATEMENT OF FINANCIAL POSITION

Net Assets Per Share

OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

Group Revenue (Rs Mn)

PAT (Excl FV)

PAT (Incl FV)

Earning Per Share (Rs)

NAVPS and Avg Share Price (Rs)

Avg. Share Price

ROE and ROA (%)

Shareholders Equity and Total Assets

Since the inception 20 Years ago the

World Trade Center Colombo (WTC)

OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

b7bm] l-bm|;m-m1; -m7 ;m;u] l-m-];l;m| u;l-bmv

Mr. Shing Pee Tao

Mr. Hussein Zubire Cassim

OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

Mrs. Mildred Tao Ong (Dr.)

Mr. Yap Boh Pin

; bv 1uu;m| |_; -m-]bm] bu;1|ou o= + ub-|;

Mr. Ajit Mahendra De Silva Jayaratne

Mr. En Ping Ong

Mr. Leslie Ralph de Lanerolle

OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

Mr. Tissa Kumara Bandaranayake

Dr. Ranee Jayamaha

Mr. Pravir Samarasinghe

With over 750,000 Sq.ft of Prime

Rs. 1,962 Mn 2015

Rs. 2,890 Mn 2015

Rs. 1,764 Mn 2014

Rs. 2,480 Mn 2014

Rs. 28,798 Mn 2015

Rs. 1,359 Mn 2015

Rs. 26,231 Mn 2014

Rs. 1,339 Mn 2014

OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

World Trade Center Colombo

Rs. 112 Mn 2015 80%

Rs. 4,329 Mn 2014

Rs. 949 Mn 2014

Rs. 4,571 Mn 2015

Rs. 5,249 Mn 2014

Rs. 1,480 Mn 2014

OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

Rs. 167 Mn 2015

OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

$_; olr-mv -];m1 -m7 1omv|-m1 v;ub1;v -vo

The Sri Lanka economy in 2015 recorded an Annual Gross

OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

m _b1_ 1omvbv| o= !v m u;1;b;7 |_uo]_ |_;

As at 31st December 2015 the Net Asset Value Per Share

bm-m1;m1ol;-m7 bm-m1; r;mv;v

uor bm-m1; bm1ol; o= !v m v_ov - 7;1u;-v;

uor uoC| ;=ou; $- o= !v m -v o;u

bb7;m7v r-b7 |o ou7bm-u v_-u; _o7;uv -v !v

The Groups cash and short term investment as at 31st

$_;uor!;|umom tb|! =ou|_;;-u-v

$17bm] (-u]bm

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uor bm-m1; bm1ol; o= !v m v_ov - 7;1u;-v;

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