Cover 1 - Apollo Hospitals Dhaka

Directors’ Report
Director’s Report
Dear shareholders, on behalf of the Board of Directors,
it is our pleasure to present the reports and audited
financial statements of STS Holdings Limited for the
year 2011, ended on 31 December.
On the year 2011, the company had a sustainable
growth in top line and bottom line. AHD entered this
year with a strong balance sheet, healthy cash flow and
a business plan geared to identify new business
opportunities and protect our core businesses.
The past six years have brought a higher level of
organizational maturity and a keen knowledge of the
healthcare market that allows AHD to consistently
outperform the market and deliver growth. While
paying close attention to maintaining or improving
margins, AHD kept its commitment to not
compromise the quality of its medical care and service
to patients.
Much credit for these achievements goes to our doctors
and nurses, along with other clinical and support staff
of the hospital who positively touched the lives of
millions of patients. The credit goes to these satisfied
and loyal patients who have supported us throughout
the years.
Growth
In 2011 the Company has achieved a growth of 16.72%
amounting to BDT 2,590 million on the reported
revenue from the hospital operations from BDT 2,219
million in 2010. This increase came from the increase in
patient flow to avail our out-patient services,
investigations, surgeries and pharmacy. In 2011, the
cost of operations of the Company came to BDT 1,374
million which is 19.17% higher from BDT 1,153 in
2010. The operating cost increased due to price hike of
power and fuel and that of overall consumer &
industrial products. The Net Profit of the company
increased by 15.62% to BDT 262 million from BDT 227
million in 2010.
JCI Re-accreditation
We all know that in April 2008, Apollo Hospitals Dhaka
became the first hospital in the country to receive Joint
Commission International (JCI) Accreditation, an
international stamp for excellence in clinical practices in
patient care and safety. In June 2011, after a rigorous
one-week survey process, the hospital was once again
fully re-accredited by JCI, for consistently upholding its
quality and safety parameters. JCI accreditation is an
important indicator for Apollo Hospitals Dhaka as an
"International Health Care Provider". This accreditation
documents our world-class healthcare services and the
accomplishment of such accreditation affirms our
commitment to providing the people of Bangladesh
international standard health care in their own country.
Chittagong Project:
The Chittagong hospital work will start by the end of
next quarter on the 145 decimal land that the Company
has acquired in Ananya Residential Area of Chittagong
Development Authority (CDA). It will be a tertiary care
multi disciplinary hospital catering to the needs of people
of Chittagong and surrounding areas of Comilla, Feni,
Maizdee and Cox’s Bazaar.
IPO issues
As per our previous commitment with the shareholders
and plan of the Company, the IPO issues could not be
materialized because of the turbulent condition of the
share market of the Country in the year 2011. At that
time the Securities and Exchange Commission (SEC)
was very reluctant to approve issuing any IPO.
Therefore, we still are waiting for the share market to
settle down vis-à-vis we’d await for achieving better
financial results by the Company. As soon as the
condition becomes favourable to get better price of our
shares, renewed proposal will be submitted to the SEC
for its approval.