Elpitiya Plantations Plc Annual Report 2010/11 - Colombo Stock ...

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CORPORATE SUSTAINABILITY REPORT At Elpitiya Plantations PLC, sustainability plays a key role and strategies have been implemented to meet these objectives. We have a well diversified portfolio of businesses/ crops which increases the bio-diversity of the estates and ensures environmental conservation in achieving our goal of long term sustainability. From the inception, through a visionary corporate plan the company has grown in terms of Asset value, Profitability and the quality of the Human Capital. We also developed strategies through the years towards strengthening multiethnic harmony in our workforce. • Elpitiya Plantations in association with the Merrill J. Fernando Charitable Foundation provides educational scholarships to children of estate workers. This includes scholarships to students who have been accepted to university and students who have performed well at their GCE Ordinary Examinations. In the year 2010/11, 3 students qualified to receive scholarships to continue their studies from GCE Ordinary level to Advanced level of Rs. 750 per month for 2 years and 5 students who qualified to enter University for higher studies were granted scholarships of Rs. 1500 monthly for 3 years. Currently, there are 20 scholarship recipients. Social Development. • High standards of quality in the health and welfare for the children and a series of activities carried out towards improving the literacy of estate workers’ children. Total spending to maintain the creche facilities in all estates in 2010/11 was Rs. 24 Million. Gulugahakande Child Development Center was placed first at the all island child development center competition Organized by PHDT beating 430 estates. • The plantation sector recognizes that its success is linked inevitably to its workers, and as such, the health of employees is of paramount importance. During the year, Elpitiya, Deviturai, Bentota, Talgaswella, Ketandola, New Peacock and Nayapane Estates organized free medical camps and eye camps for employees and treated 820 employees and their family members, and also conducted a” Well Woman Clinic” and a workshop to create awareness on Sexually Transmitted Diseases. Sheen Estate conducted Ante Natal Clinics, Expanded Immunization and Contraception clinics for employees which were also extended to villagers. Similar programmes were also held at Gulugahakande, Ketandola, Talgaswella, and Dunsinane Estates. • Plantations provide health facilities including pre natal and antenatal clinics on all estates with free vaccination and medical checkups. Each estate has a medical officer who looks into these programmes. The company has also made available four (4) ambulances to minimize the time taken to transport serious patients to base hospitals. • During pregnancy, female workers are given ‘light work’ at a location close to their homes and a ‘Nursing Interval’ for 12 months is extended to all new mothers. A qualified mid wife looks after the wellbeing of expecting mothers on every estate. • Our plantations have encouraged the community spirit by organizing and supporting events such as annual trips, get-togethers, pilgrimages and shramadana campaigns on a regular basis. 16 Elpitiya Plantations Plc Annual Report 2010/11
CORPORATE SUSTAINABILITY REPORT (contd.) • With the aim of improving the quality of life of plantation staff, many awareness programmes have been conducted, specifically addressing issues such as Dengue prevention at Lelwela, New peacock, Sheen and Talgaswella Estates, and pre-natal and ante-natal care on Talgaswella, New Peacock and Dunsinane Estates. • The secretaries of Aitken Spence led by Mrs.Daisy Kunanandham in their special annual project, donated educational and health care utenciils for the children of Dunsinane, Sheen, Fernlands and Meddacombra Estates. Over 1600 students benefited from these activities. • The company has collaborated with the Ministry of Livestock & Rural Community Development in a special project to concrete roads in the Nuwara Eliya Region. The full length of the roads developed by Dunsinane, Fernlands and Sheen Estates was 32 kilometers at a approximate cost of Rs. 43.5 Million in the corresponding year. • Skills development and prevention of alcoholism programmes were conducted for the members of Quality Circles in utilizing the funds granted by the PDP aiming at prevention of Absenteeism on our plantations. • Total spending on developing field rest rooms, water schemes, play grounds, places of worship, social development centres, re-roofing and rehabilitating internal roads was in the rang of Rs. 55.3 Million. Elpitiya Plantations Plc Annual Report 2010/11 17
Page 1 and 2: Elpitiya Plantations Plc Annual Rep
Page 3 and 4: Contents Financial Highlights 02 Ch
Page 5 and 6: Chairman’s Statement It gives me
Page 7 and 8: Managing Director’s Review The fi
Page 9 and 10: Board of Directors Mr. J M S Brito
Page 11 and 12: Annual Report of the Board of Direc
Page 13 and 14: Audit Committee Report Composition
Page 15 and 16: Corporate Governance (contd.) • E
Page 17: Corporate Governance (contd.) 2. Au
Page 21 and 22: CORPORATE SUSTAINABILITY REPORT (co
Page 23 and 24: Management Team Head Office Left to
Page 25 and 26: Auditors’ Report Chartered Accoun
Page 27 and 28: Income Statement Year Ended 31 st M
Page 29 and 30: N note 2011 2010 Rs. Rs. CASH FLOWS
Page 31 and 32: Notes to the Financial Statements Y
Page 37 and 38: d) Leasehold Property Notes to the
Page 45 and 46: 12. INTEREST BEARING LOANS AND BORR
Page 47 and 48: 13. RETIRING BENEFIT OBLIGATIONS 20
Page 53 and 54: 25. CAPITAL COMMITMENTS 2011 2010 F
Page 55 and 56: Value Added Statement Figures in Rs
Page 57 and 58: Ten Year Summary Year ended 31 st M
Page 59 and 60: Shareholder & Investor Information
Page 61 and 62: Financial Calendar 2010/2011 August
Page 63 and 64: Notice of Meeting NOTICE is hereby
Page 65 and 66: Form of Proxy I/We ……………
Page 67 and 68: Elpitiya Plantations Plc Annual Rep

Elpitiya Plantations Plc Annual Report 2010/11 - Colombo Stock ...

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