Introductory Document - Colombo Stock Exchange

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TERMS OF REFFERENCEThis report is prepared at the request of the Joint Managers Mr.L.S.Sigera &Mr.I.J.A.Karunaratne of Ramboda Falls (Pvt) Ltd. - N (PVS) 17333, a Company dulyincorporated under the Law of Sri Lanka and having its office at No.641/5D, Koswatta,Eldeniya, Kadawatha.DATE OF INSPECTION AND VALUATION 28 th January 2011.PARTIES PRESENT AT THE TIME OF INSPECTIONMr. L. S. Sigera & Mr. I. J. A. KarunaratneSITUATION AND ACCESSThe property is situated at Ramboda, in Ramboda Korale of Kotmale, Nuwara Eliya District, CentralProvince. It can be reached by proceeding from Peradeniya Junction on Colombo-Kandy Highwayalong Nuwara Eliya Road for a distance of a little past the 44 th k.m.post and just past the RambodaTunnel, turning right on to the road which leads to the property. This is a rather steep meanderingroad which ends at the hotel.IDENTIFICATION OF PROPERTYThe land is identified as Lot Nos.1, 2, 3, 4 & 5 in survey Plan No.145 drawn by K.W.R.L.S. PremakumaraRanasinghe. The main land is Lot No.1 on which the hotel is located. It is known as Rock Falls Estatealias Gorandiwatta.EXTENT AND BOUNDARIES3.8242 hectares or 9A-1R-32.0P according to Plan No. 145 dated 15 th May 2010 drawn by K.W.R.L.S.Premakumara Ranasinghe, Licensed Surveyor, Leveller and Court Commissioner. The property isbounded as follows.North by: Dewaturu Oya and road reservationEast by: Road reservation and ElaSouth by: Wedamulla Oya ( Ramboda Oya )West by: Dewaturu OyaThe boundaries are in accordance with given survey plan.106 Ramboda Falls Limited – Introductory Document
LEGAL TITLE OF THE PROPERTY:Title to the property is claimed by Ramboda Falls (Pvt) Ltd. by virtue of Deed of Transfer No. 2259dated 01 st July 1996 attested by Bernard Hettiarachchi, Attorney-at-Law and Notary Public. Theinstrument is registered in volume Q136 Folio 210 and Q 134 Folio 267 at the Nuwara Eliya LandRegistry.DESRIPTION OF PROPERTY:Ramboda Falls Hotel is located overlooking the beautifulscenery towards the Northern and Southernboundaries, where Ramboda Falls and Wedamulla Oya(Ramboda Oya) is clearly visible. The land is in differentlevels and the hotel buildings too, are so designed atvarious levels to provide a panoramic view of thesurroundings. The upcountry hill area is beautifullyvisible from this hotel.The buildings are of recent construction and good class material has been used. So is theworkmanship. There are no visible flaws in the construction.DETAILS OF BUILDINGS:At the entrance, there is a guard room and below that there is a 3 storeyed building, the ground floor,first floor are used as workers’ living quarters and rest rooms and the second floor comprises 2 shops.The roof is of asbestos sheets and ceiled below, plastered and colour washed. The ground and firstfloors are cement rendered whilst the second floor is tiled paved. Access to the upper floors is bymeans of flights of steps.The main building has an entrance portico, office room, reception area, banquet hall called “ForestLodge”, pantry, visitors latrines (2 Nos.) ladies’ and gents’ toilets.These areas constitute the ground floor, which has an Amano sheet roof and Amano gutters. It hasexposed rafters with wooden ceiling. The entrance porch has one masonry pillar and ceramic tiledfloor. Walls are brick masonry and have been plastered and colour washed.The office room is ceramic tile paved and has a glazed front on Aluminium frame. It’s walls are ofcement blocks. The entrance to the reception area has a fixed glazed front and a glazed door. It hasglazed and framed windows overlooking the water fall and scenic beauty of the country side. Thereception section has concealed lights. The floor is of granite. A sliding fixed glass door separates theentrance from the reception area to the banquet hall.107 Ramboda Falls Limited – Introductory Document
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RAMBODA FALLS LIMITEDIncorporated u
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ABBREVIATIONS USED IN THIS INTRODUC
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Information Relevant to the Introdu
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2. OVERVIEW OF THE COMPANY2.1 RAMBO
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A visitor to Ramboda Falls Hotel wi
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agreement with the new owners of Ra
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Construction of a hot water swimmin
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Employee Risk - The business perfor
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3. SENIOR MANAGEMENTThe senior mana
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4. THE BOARD OF DIRECTORSThe Board
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Mr. Ananda Karunarathne - Executive
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5. CORPORATE GOVERNANCE5.1 INDEPEND
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6. CAPITAL STRUCTURE6.1 STATED CAPI
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6.6 SHAREHOLDERS OF RFLThe major sh
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8. DECLARATION BY THE DIRECTORSWe,
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Unaudited Unaudited Unaudited Unaud
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RAMBODA FALLS LIMITED Unaudited Una
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AUDITED FINANCIAL STATEMENTS AS AT
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RAMBODA FALLS (PVT) LIMITEDINCOME S
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RAMBODA FALLS (PVT) LIMITEDSTATEMEN
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RAMBODA FALLS (PVT) LIMITEDNOTES TO
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3.2.2 Inventories (Cont’d)RAMBODA
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d. Defined benefit plans (Cont’d)
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RAMBODA FALLS ( PVT) LIMITEDNOTES T
Page 55 and 56: RAMBODA FALLS (PVT) LIMITEDNOTES TO
Page 57 and 58: AUDITED FINANCIAL STATEMENTS AS AT
Page 59 and 60: 59 Ramboda Falls Limited - Introduc
Page 61 and 62: RAMBODA FALLS (PVT) LTD.CASH FLOW S
Page 69 and 70: RAMBODA FALLS (PVT) LTDNotes to the
Page 77 and 78: RAMBODA FALLS (PVT) LTD.INCOME STAT
Page 79 and 80: RAMBODA FALLS (PVT) LTD.STATEMENT O
Page 95 and 96: RAMBODA FALLS (PVT) LTD.Statement o
Page 97 and 98: Capital allowances For the Addition
Page 99 and 100: Members and Trading Members of the
Page 101 and 102: ANNEXURE II - TRANSFER OF SHARESNam
Page 103 and 104: Name of Transferor Name of Transfer
Page 105: PreambleIt is with great pleasure t
Page 109 and 110: From the lower floor another flight
Page 111 and 112: Basement liquor store, laundry & mi
Page 113 and 114: SITE CHARACTERISTICS, LOCALITY, ARE
Page 115 and 116: 04. Assets:As per inventory taken (
Page 117 and 118: ANNEXURE IV - EXTRACTS FROM PROJECT
Page 119: Tax ComputationY1 Y2 Y3 Y4 Y5 Y6Pre
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Introductory Document - Colombo Stock Exchange

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