provisional financial statements€¦ · roisina inania tateents fr te arter ended 0 epteer 01 i i...

Provisional Financial Statements For the Quarter ended 30 September 2017

DUNAMIS CAPITAL PLC

PROVISIONALFINANCIALSTATEMENTS

QUARTER ENDED 30 SEPTEMBER 2017


DUNAMIS CAPITAL PLC

REVIEW OF OPERATIONS

01

Dunamis Capital PLC recorded a consolidated profit after tax of Rs. 830Mn for the 1st half of financial year 2017/18 compared to Rs.319Mn in the corresponding period of the previous year.

As part of the group restructuring process, the Company has disposed of its subsidiaries, Premier Synthetic Leather Manufacturers (Pvt) Limited and Blyton (Pvt) Limited on 25th September 2017 realising a profit of Rs. 162Mn and Rs. 318Mn respectively at Group Level.

At the Company level, Dunamis Capital PLC recorded a loss after tax of Rs. 142Mn compared to Rs. 39Mn in 2016/17.

First Capital reported a consolidated profit after tax of Rs. 731Mn for the 1st half of financial year 2017/18 (2016/17 – Rs.406Mn) mainly attributable to the continued decline in secondary market interest rates which generated trading and fair valuation gains on Government Securities.

Kelsey Developments PLC recorded a consolidated loss after tax of Rs. 52Mn during the 1st half of 2017/18 compared to a profit of Rs. 17Mn in the corresponding period of the previous year. The company has several projects in its pipeline and is optimistic about its future prospects.

(Sgd.)Dinesh SchaffterManaging Director


DUNAMIS CAPITAL PLC

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

Group For the period July ~ September April ~ September 2017 2016 2017 2016 Unaudited Unaudited Unaudited Unaudited

Revenue 1,301,939 1,531,972 2,864,338 2,462,783 Cost of sales (834,465) (1,241,926) (2,140,709) (2,027,982)Gross profit 467,474 290,046 723,629 434,801 Gain on disposal of subsidiary companies 480,087 - 480,087 - Other operating income 6,480 20,290 60,037 162,421 Gain on fair value of financial investments - held for trading 934 327,532 292,714 345,068 Less: Administrative expenses (171,257) (188,459) (325,202) (347,130)Sales and distribution expenses (11,238) (17,524) (26,097) (35,519)Other operating expenses (56,040) (15,728) (87,437) (30,453)Profit from operations 716,440 416,157 1,117,731 529,188 Finance expenses (120,549) (75,984) (234,173) (182,158) Profit before tax 595,891 340,173 883,558 347,030 Income tax expenses (23,682) (22,771) (53,446) (28,316) Profit for the period 572,209 317,402 830,112 318,714 Other comprehensive income Items that are or may be reclassified subsequently to profit or loss Available-for-sale financial assets – net change in fair value - - (90,053) - Other comprehensive income, net of tax - - (90,053) 318,714 Total comprehensive income for the period 572,209 317,402 740,059 318,714 Profit attributable to: Equity-holders of the parent 493,776 221,090 657,518 199,314 Non-controlling interests 78,433 96,312 172,594 119,400 572,209 317,402 830,112 318,714 Total comprehensive income attributable to: Equity-holders of the parent 493,776 221,090 587,148 199,314 Non-controlling interests 78,433 96,312 152,911 119,400 572,209 317,402 740,059 318,714 Basic earnings per share (Rs.) 4.01 1.80 5.35 1.62 Figures in brackets indicate negative balances. Note: All values are in rupees ‘000s unless otherwise stated.

02


DUNAMIS CAPITAL PLC

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

Company For the period July ~ September April ~ September 2017 2016 2017 2016 Unaudited Unaudited Unaudited Unaudited Restated

Revenue 14,816 - 15,539 26,623 Cost of sales - - - - Gross profit 14,816 - 15,539 26,623 Gain on disposal of subsidiary companies 60,693 - 60,693 - Other operating income 1,361 50,992 10,496 115,629 Gain/(Loss) on fair value of financial investments - held for trading (27,420) 60,780 16,891 43,905 Less: Administrative expenses (11,011) (27,062) (27,648) (57,334)Other operating expenses (4,866) (947) (6,476) (1,867)Profit from operations 33,573 83,763 69,495 126,956 Finance expenses (109,518) (68,087) (211,399) (166,232)Profit/ (loss) before tax (75,945) 15,676 (141,904) (39,276) Income tax expenses - - (468) - Profit/(loss) for the period (75,945) 15,676 (142,372) (39,276) Other comprehensive income, net of tax Items that are or may be reclassified subsequently to profit or loss Available-for-sale financial assets – net change in fair value 226,662 1,020,549 1,206,490 872,412 Total comprehensive income for the period 150,717 1,036,225 1,064,118 833,136 Basic earnings/ (loss) per share (Rs.) (0.62) 0.13 (1.16) (0.32) Figures in brackets indicate negative balances. Note: All values are in rupees ‘000s unless otherwise stated.

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DUNAMIS CAPITAL PLC

STATEMENT OF FINANCIAL POSITION

04

Group Company As at 30 Sep 2017 30 Sep 2016 31 March 2017 30 Sep 2017 30 Sep 2016 31 March 2017 Unaudited Unaudited Audited Unaudited Unaudited Audited Restated

ASSETS Non-current assets Property, plant and equipment 151,445 483,366 477,747 1,489 1,985 1,558 Investments in subsidiaries - - - 3,496,963 3,693,926 2,554,915 Long term investements 518,305 432,803 532,803 275,555 100,000 200,000 Investment property 1,543,314 718,460 1,826,172 1,697,222 37,630 1,280,369 Deferred tax assets 29,628 42,857 35,845 - - - Intangible assets 205,902 234,901 235,692 - - - 2,448,594 1,912,387 3,108,259 5,471,229 3,833,541 4,036,842 Current assets Inventories 1,513,600 1,862,065 1,915,207 - - - Trade and other receivables 548,287 1,822,701 865,214 4,800 851,232 47,594 Group balances receivables 22,340 - - 23,068 836,567 616,375 Financial investments - Held for trading 18,755,997 30,730,783 23,909,890 524,574 623,470 510,988 Financial investments - Loans and receivables 4,820,792 5,620,944 5,553,426 - 77,753 56,273 Derivative financial instruments 7,100 20,161 24,075 - - - Cash and cash equivalents 385,921 65,514 68,663 332,331 7,328 2,315 26,054,037 40,122,168 32,336,475 884,773 2,396,350 1,233,545 Non-current assets held for sale 42,416 42,416 42,416 - - - Total assets 28,545,047 42,076,971 35,487,150 6,356,002 6,229,891 5,270,387 EQUITY AND LIABILITIES Capital and reserves Stated capital 445,994 445,994 445,994 445,994 445,994 445,994 Capital reserve 22,500 22,500 22,500 - - - Risk reserve 682,122 643,365 642,437 - - - Fair valuation reserve (70,370) - - 2,018,962 1,822,681 812,472 Retained earnings/(losses) (130,273) (131,084) (752,794) (483,124) 245,603 (340,752)Equity attributable to the equity holders of the parent 949,973 980,775 358,137 1,981,832 2,514,278 917,714 Non-controlling interests 508,067 549,121 368,881 - - - Total equity 1,458,040 1,529,896 727,018 1,981,832 2,514,278 917,714 Non-current liabilities Deferred tax liabilities 858 1,373 - - 1,373 - Retirement benefit obligations 38,102 48,489 44,028 5,189 10,356 10,472 Borrowings on debentures 2,069,222 2,883,373 2,178,498 2,114,288 2,107,920 2,049,152 Interest bearing borrowings 1,130,528 998,404 1,197,128 275,000 425,000 350,000 3,238,710 3,931,639 3,419,654 2,394,477 2,544,649 2,409,624 Current liabilities Trade and other payables 570,987 1,169,337 893,203 76,207 7,670 13,059 Interest bearing borrowings 6,116,107 6,789,912 8,414,137 1,780,641 1,127,199 1,149,569 Group balances payables 12,314 283,179 283,232 6,571 35,064 516,890 Securities sold under re-purchase agreements 16,569,988 28,133,858 21,102,897 - - - Derivative financial instruments 10,714 18,329 2,240 - - - Bank overdrafts 568,187 220,821 644,769 116,274 1,031 263,531 23,848,297 36,615,436 31,340,478 1,979,693 1,170,964 1,943,049 Total equity and liabilities 28,545,047 42,076,971 35,487,150 6,356,002 6,229,891 5,270,387 Note: All values are in rupees ‘000 unless otherwise stated. Figures in brackets indicate negative balances. These financial statements are in compliance with the requirements of the Companies Act No. 07 of 2007. (Sgd.) Himal Akalanka Finance Manager The Board of Directors is responsible for the preparation and presentation of these Financial Statements. (Sgd.) (Sgd.) A.D.E.I. Perera Dinesh Schaffter Chairman Managing Director 15 November 2017 Colombo


DUNAMIS CAPITAL PLC

STATEMENT OF CHANGES IN EQUITY

05

GROUP Attributable to equity holders of parent Stated Capital Risk Fair Retained Total Non- Total Capital Reserve Reserve Valuation Earnings Controlling Equity Reserve /(Losses) Interests Balance as at 1 April 2016 (Audited) 445,994 22,500 617,092 - (304,123) 781,463 414,015 1,195,478 Total comprehensive income for the period Profit for the period - - - - 199,314 199,314 119,400 318,714 Other comprehensive income, net of tax - - - - - - - - Total Comprehensive income - - - - 199,314 199,314 119,400 318,714 Transactions with equity holders Transfer to risk reserves - - 26,273 - (26,273) - - - Dividends - - - - - - (40) (40)Total transactions with equity holders - - 26,273 - (26,273) - (40) (40) Change in ownership interests Acquisition of Subsidiary with NCI - - - - - - 15,746 15,746 Total Change in ownership interests - - - - - - 15,746 15,746 As at 30 September 2016 445,994 22,500 643,365 - (131,084) 980,775 549,121 1,529,896 Balance as at 1 April 2017 (Audited) 445,994 22,500 642,437 - (752,794) 358,137 368,881 727,018 Total comprehensive income for the period Profit for the period - - - - 657,518 657,518 172,594 830,112 Other comprehensive income, net of tax - - - (70,370) - (70,370) (19,683) (90,053)Total Comprehensive income - - - (70,370) 657,518 587,148 152,911 740,059 Transactions with equity holders Dividend paid - - - - - - (3,503) (3,503)Transfer to risk reserves - - 39,685 - (39,685) - - - Total transactions with equity holders - - 39,685 - (39,685) - (3,503) (3,503) Change in ownership interests Change in ownership interests without change in control - - - - 4,689 4,689 (10,222) (5,533)Total Change in ownership interests - - - - 4,689 4,689 (10,222) (5,533) As at 30 September 2017 445,994 22,500 682,122 (70,370) (130,273) 949,973 508,067 1,458,040

Figures in brackets indicate negative balances. Note: All values are in rupees ‘000s unless otherwise stated.


DUNAMIS CAPITAL PLC

Stated Fair Valuation Retained Total Capital Reserve Earnings/ Equity (Losses)Balance as at 1 April 2016 as previously reported (Audited) 445,994 - 284,879 730,873 Impact of change in accounting policy (Note 3) - 950,269 - 950,269 Restated balance as at 1 April 2016 445,994 950,269 284,879 1,681,142 Total comprehensive income for the period Profit for the period - - (39,276) (39,276)Other comprehensive income, net of tax - 872,412 - 872,412 Total Comprehensive income - 872,412 (39,276) 833,136 As at 30 September 2016 445,994 1,822,681 245,603 2,514,278 Balance as at 1 April 2017 (Audited) 445,994 812,472 (340,752) 917,714 Total comprehensive income for the period Loss for the period - - (142,372) (142,372)Other comprehensive income, net of tax - 1,206,490 - 1,206,490 Total Comprehensive income - 1,206,490 (142,372) 1,064,118 As at 30 September 2017 445,994 2,018,962 (483,124) 1,981,832

Financial Property Manufacturing Investment Others Group Group Services Development Holdings Adjustments Total revenue 2,181,307 595,520 202,004 15,539 2,725 (132,757) 2,864,338 Profit / (loss) from operations 782,852 36,050 (55,723) 69,495 (202) 285,260 1,117,731 Finance expenses - (87,205) (37,908) (211,399) - 102,339 (234,173)Profit / (loss) before tax 782,852 (51,155) (93,632) (141,904) (202) 387,599 883,558 Taxation (51,420) (567) - (468) - (991) (53,446)Profit / (loss) for the period 731,432 (51,722) (93,632) (142,372) (202) 386,608 830,112 Figures in brackets indicate negative balances. Note: All values are in rupees ‘000s unless otherwise stated.

STATEMENT OF CHANGES IN EQUITY

COMPANY

SEGMENT INFORMATION For the period ended 30 September 2017

06


DUNAMIS CAPITAL PLC

STATEMENT OF CASH FLOWS

Group Company For the six months period ended 30 Sep 2017 30 Sep 2016 30 Sep 2017 30 Sep 2016 Cash flows from operating activities Profit/(loss) before taxation 883,558 347,030 (141,904) (39,276)Adjustments for: Depreciation and amortisation 22,992 20,660 261 1,110 Interest expense 234,173 182,158 211,399 166,232 Gain on disposal of subsidiary companies (480,087) - (60,693) Gain on fair valuation of financial instruments-held for trading (292,714) (345,068) (16,891) (43,905) Gain on disposal of property, plant and equipment (555) (3,504) (15) Gain on repurchase of shares - - (5,929) Impairment provision for goodwill 13,763 - - - Provision for retirement benefit obligations 4,296 5,850 437 755 Operating Profit/(loss) before working capital changes 385,426 207,126 (13,335) 84,916 Change in inventories 257,021 (246,202) - - Change in trade & other receivables 74,305 (578,028) 18,195 (523,837) Change in related party receivables (22,340) - 593,307 19,080 Change in Financial investments - Held for trading 5,265,702 (18,105,616) 3,305 527,723 Change in Financial investments - Loans and receivables 676,295 2,755,641 - (6,616) Change in trade & other payables (275,406) (358,612) 63,148 (19,702) Change in securities purchased under re-purchases agreements (4,532,909) 13,888,761 - - Change in related party payables 911,444 (128,661) (479,791) 35,064 Cash generated from/(used in) operations 2,739,538 (2,565,591) 184,829 116,627 Interest paid (234,173) (182,158) (211,399) (166,232) Change in amortised interest and transaction costs of debentures 97,078 108,501 65,136 63,447 Income tax paid (30,814) (12,764) (468) - Gratuity paid (6,001) (375) (5,720) - Net cash generated from/(used in) in operations 2,565,630 (2,652,386) 32,378 13,842 Cash flows from investing activities Investment in subsidiaries, net of cash acquired (15,000) (102,039) - - Acquisition of investment properties (372,550) - (391,853) - Investment in shares (19,147) (330,803) (19,147) - Acquisition of property, plant & equipment & intangible assets (27,325) (45,512) (262) (683) Proceeds from disposal of property, plant and equipment 555 3,504 85 - Proceeds from disposal of Investment in subsidiaries - net of cash disposed 395,344 - 300,000 - Net cash flows used in investing activities (38,123) (474,850) (111,177) (683) Cash flows from financing activities Net change in interest bearing loans and borrowings (2,130,163) 3,581,641 556,072 522,250 Dividend paid (3,503) (40) - - Net cash flows generated from/(used in) financing activities (2,133,666) 3,581,601 556,072 522,250 Net change in cash & cash equivalents 393,840 454,364 477,273 535,409 Cash & cash equivalent at the beginning of the period (576,106) (609,671) (261,216) (529,112) Cash & cash equivalent at the end of the period (Note A) (182,266) (155,307) 216,057 6,297 Note A Cash in hand and at bank 385,921 65,514 332,331 7,328 Bank overdraft (568,187) (220,821) (116,274) (1,031) Cash & cash equivalents as at 30 September (182,266) (155,307) 216,057 6,297

Figures in brackets indicate negative balances. Note: All values are in rupees ‘000s unless otherwise stated.

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DUNAMIS CAPITAL PLC

NOTES TO THE FINANCIAL STATEMENTS

1. Net assets per share Group Company As at 30 September 2017 2016 2017 2016 Rs. Rs. Rs. Rs. 7.72 7.97 16.11 20.44 2. Market price per share For the quarter ended 30 Sep 17 30 Sep 16 Rs. Rs. Highest market price 28.50 29.70 Lowest market price 22.70 18.20 Closing market price 24.20 28.10

3. The above figures are provisional and subject to audit. The same accounting policies as in the Annual report for the year ended 31 March 2017 have been followed in the preparation of the above financial statements. In 2016/17, Company changed its accounting policy for investment in subsidiaries from cost method to fair value method of accounting in accordance with the provisions of “LKAS 27 – Separate Financial Statements” with the objective of fair presentation. Accordingly, comparative figures in 2nd Quarter of 2016/17 (Separate Financial Statements) have been restated. 4. The presentation and classification of figures for the corresponding period of the previous year have been reclassified to be comparable with those of the current year where necessary. 5. On 29th August 2017, Kelsey Developments PLC acquired balance 24.9% stake of it’s subsidiray, Pre Fab Engineering Projects (Private) Limited for a consideration of Rs. 15 Mn and it is now a wholly owned subsidiary of Kelsey Developments PLC.

6. The number of shares represented by stated capital as at 30 September 2017 is 122,997,050 shares. (as at 30 September 2016- 122,997,050 shares)

7. There have been no significant changes in the nature of the contingent liabilities which were disclosed in the Annual Report for the year ended 31 March 2017 other than following: Company (a) Company has provided a corporate guarantee facility on behalf of Kelsey Homes (Pvt) Limited (Subsidiary) amounting to Rs. 350 Mn for its banking facilities. (b) Company has provided a corporate guarantee facility on behalf of Premier Synthetic Leather Manufacturers (Pvt) Limited ( Former subsidiary) amounting to Rs. 123.75 Mn for its banking facilities.

(c) Company has provided a corporate guarantee facility on behalf of Nextventures Limited (Related party Company) amounting to Rs. 1000 Mn for its credit facilities. Group (a) During the quarter, the Department of Inland Revenue issued assessments on Financial VAT for 2014/15 for First Capital Treasuries PLC and First Capital Limited amounting to Rs. 87.7 Mn and Rs. 53.7 Mn respectively. The appeals were submitted against the said assessments. Based on tax consultant’s opinion, the Board of Directors of the Company is of the view that no liability would arise since the assessment is outside the scope of chargeability of Financial VAT. 8. There have been no material events subsequent to the reporting date which require disclosures/adjustments in the interim financial statements for the period ended 30 September 2017.

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DUNAMIS CAPITAL PLC

9. Information on Listed Debentures (a) Debt Ratios (Group) As at As at As at 30-Sep-17 30-Sep-16 31-Mar-17 Debt/equity ratio (times) 18.14 25.51 46.13 Quick asset ratio (times) 1.03 1.04 0.97 Interest cover (times) 4.77 2.91 0.12 Debt Ratios (Company) Debt/equity ratio (times) 2.16 1.46 4.15 Quick asset ratio (times) 0.45 2.05 0.63 Interest cover (times) 0.33 0.76 - (b) Market value per Debenture- For the period ended 30 September 2017 Debenture issued by Dunamis Capital PLC As at As at As at 30-Sep-17 30-Sep-16 31-Mar-17 05 year fixed rate (12.5 % p.a. payable annually) - 2014/2019 Rs. Rs. Rs. Highest price 99.97 102.33 100.00 Lowest price 99.97 97.00 100.00 Last trade price 99.97 102.33 100.00 05 year fixed rate (10.5 % p.a. payable semi-annually) - 2015/2020 Highest price 94.67 - 94.18 Lowest price 94.67 - 94.18 Last trade price 94.67 - 94.18 05 year variable rate (6 months Net T-Bill rate plus 2.50% p.a. payable semi-annually) - 2015/2020 There were no trading on the “05 year variable rate - 2015/2020” debenture during the quarter ended 30 September 2017. Hence, the par value of Rs. 100 is recognised as their respective market values. Debenture issued by First Capital Holdings PLC Debentures with 4 year and 5 year maturity have not been traded during the quarter ended 30 September 2017. Hence, the par value of Rs. 100 is recognised as their respective market values. Debenture issued by First Capital Treasuries PLC Debentures with 5 year maturity have not been traded during the quarter ended 30 September 2017. Hence, the par value of Rs. 100 is recognised as their respective market value.


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DUNAMIS CAPITAL PLC

(c) Debenture Interest yield As at As at As at 30-Sep-17 30-Sep-16 31-Mar-17 Debenture issued by Dunamis Capital PLC 05 Year fixed rate ( 12.5% p.a. payable annually) - 2014/2019 12.50% 12.21% 12.50% 05 year fixed rate (10.5 % p.a. payable semi-annually) - 2015/2020 11.10% 10.50% 11.15% 05 year variable rate (6 months Net T-Bill rate plus 2.50% p.a. payable semi-annually) - 2015/2020 11.42% 11.87% 12.00% Debenture issued by First Capital Holdings PLC 3 year fixed rate (13.50 % p.a. payable annually ) N/A 13.58% N/A 4 year fixed rate (13.75 % p.a. payable annually ) 13.75% 13.75% 13.75% 5 year fixed rate (14.00 % p.a. payable annually ) 14.00% 14.00% 14.00% Debenture issued by First Capital Treasuries PLC 05 Year fixed rate ( 9.50% p.a. payable annually) 9.50% 9.50% 9.50% (d) Yield of comparable Government Securities As at As at As at 30-Sep-17 30-Sep-16 31-Mar-17 Debentures issued by Dunamis Capital PLC 5 Year treasury bond 9.42% 10.81% 11.93% 5 Year treasury bond 9.74% 11.03% 12.20% Debentures issued by First Capital Holdings PLC 3 Year treasury bond N/A 9.16% N/A 4 Year treasury bond 9.14% 10.34% 12.47% 5 Year treasury bond 9.38% 10.79% 12.46% Debenture issued by First Capital Treasuries PLC 5 Year treasury bond 9.63% 10.88% 11.98% (e) Yield to maturity on trades done for the quarter ended 30 Spetmember 2017 Debentures issued by Dunamis Capital PLC 05 Year fixed rate ( 12.50% p.a. payable annually) - 2014/2019 12.43% 11.61% 12.42% 05 year fixed rate (10.50 % p.a. payable semi-annually) - 2015/2020 12.23% - 12.39% There were no trading on the “05 year variable rate - 2015/2020” debenture during the quarter ended 30 September 2017. Hence, Yield to maturity on trade done is not applicable. Debentures issued by First Capital Holdings PLC There were no trading on the above debentures during the quarter ended 30 September 2017. Hence, Yield to maturity on trade done is not applicable. Debenture issued by First Capital Treasuries PLC There were no trading on the above debentures during the quarter ended 30 September 2017. Hence, Yield to maturity on trade done is not applicable.

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DUNAMIS CAPITAL PLC

INVESTOR INFORMATION

10. List of twenty major shareholders as at 30 September 2017 Name of the shareholder No of shares Holding % 1 1.1 Seylan Bank PLC/Mr. Dinesh Schaffter 32,286,517 26.25 1.2 People’s Leasing and Finance PLC/Mr.D.Schaffter 19,050,000 15.492 Pan Asia Bank Corporation PLC /Ms. M. Mathews 26,564,398 21.603 First Capital Markets Limited/Nextventures Limited 19,244,562 15.654 4.1 Commercial Bank of Ceylon PLC/Janashakthi Limited 6,200,000 5.04 4.2 Janashakthi plc Account No. 1 4,202,174 3.42 4.3 Seylan Bank plc./Janashakthi PLC 1,899,000 1.545 HSBC International Nominees Ltd.- ssbt-Deustche Bank 3,288,026 2.676 Mrs. Roshni Seetha Liyani de mel 2,000,000 1.637 Hatton National Bank PLC/Sanka Ramoorthy Nadaraj k 424,280 0.348 Dr. Ramani Maryette Shanez Fernando 304,800 0.259 Mr. Chandana Lal de Silva 300,000 0.2410 Aruna Enterprises (Pvt) Limited 260,345 0.2111 Mr. Ananda Deepthi Edussuriya 250,000 0.2012 Mr. Abeysiri Hemapala Munasinghe 243,727 0.2013 Pan Asia Banking Corporation PLC/Mr.Ravindra Erle 239,940 0.2014 Mrs. Wijesooriya Arachchige Dona Santhie Wijesooriya 221,600 0.1815 Monad (Private) Limited 150,000 0.1216 Mr. Nandisena Hewa Kandamby 130,846 0.1117 Hatton National Bank PLC/Abdul Latiff Mohammed Naz 102,109 0.0818 Commercial Bank of Ceylon PLC/ M R H Galappatti 98,817 0.0819 Mr. Sithampalam Abishek 90,000 0.0720 Miss Sabiha Abdulhusen Rajkotwala 87,729 0.07 The percentage of shares held by the public, as defined under the Colombo Stock Exchange regulation, was 42.37% and the number of shareholders was 2,428 as at 30 September 2017. The number of shares held by the members of the Board of Directors are as follows: Name No.of shares Holding % Mr. A.D.E.I. Perera - - Mr. D. Schaffter 51,336,517 41.74Mr. C. L. de Silva 300,000 0.24Mr. R. S. A. W. Wickramasuriya - - Mr. N. C. de Mel (Retired with effect from 07 September 2017) - -

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provisional financial statements€¦ · roisina inania tateents fr te arter ended 0 epteer 01 i i...

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