Annual Report 2010-2011 - Colombo Stock Exchange

Environmental Protection
The Company has not engaged in any activities detrimental
to the environment. The Group’s efforts in relation to
environmental protection are set out in the Corporate Social
Responsibility Report in pages 33 - 34.
Employment Policies
Group employment policies are based on recruiting the
best people, providing them training to enhance their skills,
recognition of innate skills and competencies of each individual
while offering equal career opportunities regardless of gender,
race or religion and to retain them with the Group as long
as possible. Health and safety of the employees has always
received priority in the HR agenda. The number of persons
employed by the company and its subsidiaries at the year end
was 28,403.
Compliance with Other Laws & Regulations
The Directors, to the best of their knowledge and belief,
confirm that the Group has not engaged in any activities that
contravene the laws and regulations applicable in Sri Lanka.
Financial Statements are published quarterly in line with the
listing rules of the Colombo Stock Exchange.
Annual General Meeting
The Annual General Meeting will be held at the Registered
Office of the Company, No. 310, High Level Road, Nawinna,
Maharagama, on 30th June 2011. The Notice of the Annual
General Meeting is on page 114 of this report.
Auditors
The Financial Statements for the year have been audited by
Messrs. Ernst & Young, Chartered Accountants.
Statutory Payments
The Directors, to the best of their knowledge and belief are
satisfied that all statutory payments due to the Government and
in relation to employees have been made up to date.
Events Subsequent To the Balance Sheet Date
There have not been any material events that occurred
subsequent to the Balance Sheet Date that require disclosure
or adjustments to the Financial Statements, other than those
disclosed if any, in Note 34 to the Financial Statements.
In accordance with the Companies Act No. 7 of 2007, a
resolution proposing the re-appointment of Messrs. Ernst &
Young, Chartered Accountants, as Auditors to the Company
and authorizing the Directors to fix their remuneration will be
proposed at the Annual General Meeting.
By Order of the Board
Board Committees
The Board has appointed two sub-committees namely, the
Audit Committee and the Remuneration Committee. Their
compositions and functions are given in pages 58 - 59 of the
report.
W J Viville Perera
Director
J H P Ratnayeke
Director
Corporate Governance / Internal Control
The Directors acknowledge their responsibility for the Group’s
corporate governance and the system of internal control. The
practices carried out by the Company in relation to corporate
governance and internal controls are explained in pages 56 -
57 of this report. The Board is satisfied with the effectiveness
of the system of internal control for the period up to the date of
signing the Financial Statements.
Richard Pieris Group Services (Pvt) Limited
Secretaries
No. 310, High Level Road,
Nawinna, Maharagama.
Directors’ Responsibility for Financial Reporting
The Statement of Directors’ Responsibility for financial reporting
of the Company and the Group is set out in page 60 of this
report.
27th May 2011
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Annual Report 2010/2011 | Richard Pieris and Company PLC