directors - Colombo Stock Exchange

More documents

Recommendations

Info

notes to the Financial statements The Company formed a joint venture in collaboration with KLN Engineering Products ( Pvt ) Ltd. in India to manufacture filters for automobiles. The Company has made losses since its commencement of commercial operations in August 2007. The management of Diesel & Motor Engineering PLC has decided to divest the investment in Dimo KLN Industries (Pvt) Ltd., a full provision has been made on investment in the Company since there is no recoverable value. Immediately before the divestment of investment the business activity was reported under Vehicle Parts and Services segment. 18. Investments in Equity Accounted Investee 156 Consolidated Company Percentage of 2009/10 2008/09 2009/10 2008/09 Holding Rs. ’000 Rs. ’000 Rs. ’000 Rs. ’000 Unquoted Investments Browns Dimo Industrial Products (Pvt) Ltd. 675,000 ordinary shares 45 6,750 6,750 6,750 6,750 Group share of net assets 19 26,319 18,083 – – Assets classified as held for sale (Note 23.2) (33,069) – (6,750) – Group investment in equity accounted investee – 24,833 – 6,750 19. Other Long-Term Investments Consolidated Company No. of Shares Market Value 2009/10 2008/09 2009/10 2008/09 Rs. ’000 Rs. ’000 Rs. ’000 Rs. ’000 Rs. ’000 Quoted Investments Ordinary Shares Hunas Falls Hotels PLC 900 47 14 14 7 7 Hatton National Bank PLC (Non-voting) 22,000 3,080 700 700 700 700 Ceylinco Insurance PLC (Non-voting) 1,700 393 298 298 298 298 1,012 1,012 1,005 1,005 20. Inventories Consolidated Company 2009/10 2008/09 2009/10 2008/09 Rs. ’000 Rs. ’000 Rs. ’000 Rs. ’000 <strong>Stock</strong> in trade and work-in-progress 1,126,287 1,323,637 1,024,274 1,240,650 Provision for slow moving inventories (115,717) (69,013) (92,908) (61,930) 1,010,570 1,254,624 931,366 1,178,720 Goods-in-transit 305,804 75,224 305,391 61,460 1,316,374 1,329,848 1,236,757 1,240,180 ANNUAL RepoRt 2009/10 DIeseL & MotoR eNGINeeRING pLC statements of Changes in equity 138 Cash flow statements 139 Notes to the financial statements 141 ten year summary 165 share Information 166
DIeseL & MotoR eNGINeeRING pLC ANNUAL RepoRt 2009/10 21. Trade and Other Receivables Consolidated Company 2009/10 2008/09 2009/10 2008/09 Rs. ’000 Rs. ’000 Rs. ’000 Rs. ’000 Trade receivables 2,127,344 1,673,333 1,891,120 1,465,151 Provision for bad and doubtful debts (212,334) (96,672) (165,038) (74,212) 1,915,010 1,576,661 1,726,082 1,390,939 Deposits and pre payments 55,260 48,848 44,290 30,103 Other trade receivables 14,384 22,850 13,786 18,781 Loans to employees 3,488 4,169 3,275 3,943 22. Cash and Cash Equivalents 1,988,142 1,652,528 1,787,433 1,443,766 Consolidated Company 2009/10 2008/09 2009/10 2008/09 Rs. ’000 Rs. ’000 Rs. ’000 Rs. ’000 Bank balances 28,684 3,982 21,314 3,379 Cash in hand 6,777 5,716 6,451 5,491 23. Assets Classified as Held for Sale 35,461 9,698 27,765 8,870 23.1 The management of Diesel & Motor Engineering PLC decided to divest its 49% holding in Dimo KLN Industries (Pvt) Ltd., to its Joint Venture Partner. The Share of assets and liabilities of Dimo KLN Industries (Pvt) Ltd. is given below: 23.2 The Company holds 45% of shares in Browns Dimo Industrial Products (Pvt) Ltd. (BDIPL). As at the year end the management of Diesel & Motor Engineering PLC decided to divest the investment. Hence, the investment presented separately as assets classified as held for sale at the lower its carrying amount and fair value less cost to sell. Dimo KLN Industries (Pvt) Ltd. notes to the Financial statements Consolidated Company Browns Dimo Industrial Products (Pvt) Ltd. 2009/10 2009/10 Rs. ’000 Rs. ’000 Rs. ’000 Rs. ’000 Assets Classified as Held for Sale Non-current assets 2,712 – 2,712 – Current assets Investment in equity accounted investee 3,014 – 3,014 – (Note 23.2.1) – 33,069 33,069 6,750 Total assets 5,726 33,069 38,795 6,750 Liabilities directly associated with assets classified as held for sale Non-current liabilities 6 – 6 – Current liabilities 5,720 – 5,720 – Total liabilities 5,726 – 5,726 – Network of branches, Workshops & showrooms 170 historical Note 171 Key principals 173 Country Report 175 Alphabetical Index 179 157
Page 1:
Annual Report 2009/10 DIESEL & MOTO
Page 4 and 5:
Vision To be the leader in all the
Page 6 and 7:
Contents Overview Financial Highlig
Page 8 and 9:
oVerView operational hIGhLIGhTS Har
Page 10 and 11:
oVerView CHairMan & Ceo’s REvIEW
Page 12 and 13:
oVerView 12 C H a i r M a n & Ceo
Page 14 and 15:
Overview Board of DIRECTORS ANNUAL
Page 16 and 17:
Overview Group ManaGeMent COMMITTEE
Page 18 and 19:
ManageMent report Business PERFORMA
Page 20 and 21:
Page 22 and 23:
ManageMent report The performance o
Page 24 and 25:
ManageMent report Tata Commercial V
Page 26 and 27:
Page 28 and 29:
ManageMent report We continue to ex
Page 30 and 31:
Page 32 and 33:
ManageMent report A Year of Importa
Page 34 and 35:
Page 36 and 37:
ManageMent report Performance Dimo
Page 38 and 39:
Page 40 and 41:
ManageMent report The Business unit
Page 42 and 43:
ManageMent report The division has
Page 44 and 45:
ManageMent report FinanCial REvIEW
Page 46 and 47:
ManageMent report Finance Expenses*
Page 48 and 49:
ManageMent report Working Capital T
Page 50 and 51:
ManageMent report Segment Performan
Page 52 and 53: goVernance report enterprise GOvERN
Page 54 and 55: goVernance report SECTION 1: THE CO
Page 56 and 57: goVernance report The Company Secre
Page 58 and 59: goVernance report The Committee con
Page 60 and 61: goVernance report RELATIONS WITH SH
Page 62 and 63: goVernance report e n t e r p r i s
Page 64 and 65: goVernance report CHairMan & Ceo’
Page 66 and 67: goVernance report Risk Management A
Page 68 and 69: goVernance report Industry Trends D
Page 70 and 71: goVernance report tHe reMuneration
Page 72 and 73: goVernance report group STRUCTURE 1
Page 74 and 75: FINANCIAL CALENDAR Interim Financia
Page 76 and 77: annual RepoRt oF the boaRd oF diRec
Page 78 and 79: annual RepoRt oF the boaRd oF diRec
Page 80 and 81: statement oF diRectoRs’ RespoNsIb
Page 82 and 83: income stAteMeNts 136 Consolidated
Page 84 and 85: statements oF ChANGes IN eqUIty 138
Page 86 and 87: cash Flow statements Reconciliation
Page 88 and 89: notes to the Financial statements 3
Page 90 and 91: notes to the Financial statements T
Page 92 and 93: notes to the Financial statements A
Page 100 and 101: notes to the Financial statements N
Page 108 and 109: notes to the Financial statements F
Page 112 and 113: Share INFORMATION 1. Stock Exchange
Page 114 and 115: S h a r e I n f o r m aT I o n 9. T
Page 116 and 117: neTwork of BRANCHES, WORKSHOPS & SH
Page 118 and 119: h I STo r I c a l n oT e The key at
Page 120 and 121: k eY p r I n c I pa l S Principals
Page 122 and 123: co u n T rY r e p o rT Sectoral Com
Page 124 and 125: co u n T rY r e p o rT Expectation
Page 126 and 127: GloSSarY of FINANCIAL TERMS Account
Page 128 and 129: corporaTe INFORMATION Name of the C
Page 130 and 131: The creative approach we adopted fo
Page 132: f o r m o f p rox Y Instructions as
show all

directors - Colombo Stock Exchange

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?