PDF 25 MB - Sun International | Investor Centre

More documents

Recommendations

Info

SUN INTERNATIONAL ANNUAL REPORT ’10 ENTERPRISE DEVELOPMENT Our commitment to improving our enterprise development programme was highlighted in the year under review by allocating 1.5% after tax earnings to this vital contribution to B-BBEE and by the appointment of a dedicated enterprise development manager. The hospitality business lends itself to supporting enterprises which can add value to the industry as a whole and, in particular, enterprises which are linked to our supply chain. We have identified a number of businesses ranging from a laundry run by physically disabled people to a beauty spa; cleaning companies; a draping business and an audio-visual/sound system operation. Sibaya 82 The B-BBEE Act recognises five contribution categories for companies who support black-owned businesses to grow and prosper: grants; loans; equity investments; contributions made in the form of human resources input and other contributions. In the short term, the group is focused on human resources contributions and improving the cash flow of its current suppliers who meet the criteria as enterprise development beneficiaries. Settling of suppliers earlier than the normal terms of 30 days from invoice helps our ED beneficiaries effectively manage their cash flow situation. Going forward, the target is to achieve 10 points for ED by December 2010. We are well on track to achieve this. Windmill
GOLDEN VALLEY CASINO & LODGE’S ENTERPRISE DEVELOPMENT PROJECT: Body Devine Day Spa JOINT REPORT OF THE CHIEF EXECUTIVE AND CHIEF FINANCIAL OFFICER continued With the soft opening of the Golden Valley Lodge in March 2008, we converted the two conference venues into temporary spa treatment facilities and invited two local treatment facilities to provide our MVGs with some pampering at reasonable prices. This project was extremely well received by our guests and our general manager at the time, Felicia Roman, started networking with a few local service providers to check the feasibility of bringing such an offering to the Lodge on a permanent basis. Having had a strong enterprise development background herself, she always knew that this would be in the form of a community development and upliftment project. As fate would have it, two ladies broke away from one of the larger spas in Worcester and started their own business in town. At the same time they presented Felicia with a business plan for a day spa on the premises. After many negotiations and fine tuning, the parties reached consensus and The Golden Valley Lodge Day Spa became a reality. We provided them with one of our rooms and gave them all the necessary assistance. The proviso was that they had to bring an empowerment partner on board. They managed to find this partner in the form of Gwyneth Cornelius from Goudini Spa and asked her to join the Golden Valley team, not only as an employee, but as a partner in the business. The day spa was piloted in November 2009 and as of January 2010, the Body Devine Day Spa cc shed its training wheels and began running its own business within The Golden Valley Lodge. They receive all the required help and support from the Golden Valley management and are growing from strength to strength. The spa, like any other business, has its ebb and flow periods, but all in all, it represents a great symbiotic relationship for Golden Valley and Sun International as a whole. Gwyneth: ‘When I got the opportunity to start working at Body Devine Day Spa I was very excited. Just the thought of being part of starting the business was overwhelming. Body Devine Day Spa is slowly but surely starting to grow now and we are building up a great client base. I just know that Body Devine will grow from strength to strength. I’m really working hard at it to make this business a great success. I want to encourage others to grab such opportunities with both hands, because look where I am today.’ She is only 21 years old. SOCIO-ECONOMIC DEVELOPMENT 8. TRANSFORMATION Through the Sun International Community Development Trust we continue to focus on the key areas of education, health and welfare and community development. Socio-economic development contributions for South African units amounted to R20 million, which ensured continued achievement of the maximum 5 points for this element. Refer to page 94 for detail. 83
Page 1 and 2:
ANNUAL REPORT 2010
Page 3 and 4:
ABOUT THE INTEGRATED REPORT This re
Page 5 and 6:
Carnival City AFRISUN GAUTENG 85% 8
Page 7 and 8:
Monticello
Page 9 and 10:
KEY STRATEGIC IMPERATIVES 3. OUR CU
Page 11 and 12:
Energy management Communities Publi
Page 13 and 14:
Non-Executive Directors MP (MIKE) E
Page 15 and 16:
KH (Kele) Mazwai (41) / GROUP HUMAN
Page 17 and 18:
INTRODUCTION This past year has onc
Page 19 and 20:
Morula APPRECIATION On behalf of th
Page 21 and 22:
AT A GLANCE FINANCIAL HIGHLIGHTS Wi
Page 23 and 24:
TRADING AND GROUP OPERATING PERFORM
Page 25 and 26:
Operational overview - Casinos and
Page 27 and 28:
GrandWest JOINT REPORT OF THE CHIEF
Page 29 and 30:
Gaming taxes by province and countr
Page 31 and 32:
DIVIDENDS 1. SHAREHOLDER DELIVERY T
Page 33 and 34: JOINT REPORT OF THE CHIEF EXECUTIVE
Page 35 and 36: The Royal Livingstone 33
Page 37 and 38: AT A GLANCE 2. PROTECT OUR BUSINESS
Page 39 and 40: By the end of February, the number
Page 41 and 42: WILD COAST SUN The local community
Page 43 and 44: Our market share South Africa Gamin
Page 45 and 46: We estimate that the group’s shar
Page 47 and 48: Carnival City 45
Page 49 and 50: OUR OBJECTIVES IN THIS SECTION: JOI
Page 51 and 52: FEEDBACK ON THE CM INITIATIVES/PROJ
Page 53 and 54: 51 51
Page 55 and 56: AT A GLANCE WHAT WE ACHIEVED Final
Page 57 and 58: CAPITAL COMMITMENTS Capital commitm
Page 59 and 60: AT A GLANCE JOINT REPORT OF THE CHI
Page 61 and 62: CONCESSIONAIRES Our concessionaires
Page 63 and 64: AT A GLANCE IN THIS SECTION: JOINT
Page 65 and 66: In line with global trends for lead
Page 69 and 70: Beneficiaries of training 2010 Bene
Page 71 and 72: Training investment model JOINT REP
Page 73 and 74: JOB PROFILING Also forming part of
Page 75 and 76: Occupational hygiene and legionella
Page 77 and 78: OUR OBJECTIVES JOINT REPORT OF THE
Page 79 and 80: The table below sets out the direct
Page 81 and 82: MANAGEMENT JOINT REPORT OF THE CHIE
Page 83: JOINT REPORT OF THE CHIEF EXECUTIVE
Page 87 and 88: INCIDENTS JOINT REPORT OF THE CHIEF
Page 89 and 90: Efforts to establish the Nedbank Go
Page 91 and 92: Our property ratings Rm 2010 2009 2
Page 95 and 96: AT A GLANCE JOINT REPORT OF THE CHI
Page 97 and 98: SHAWCO - This student-run NGO at th
Page 99 and 100: REGULATORY COMPLIANCE The South Afr
Page 101 and 102: OUR COMMITMENT CORPORATE GOVERNANCE
Page 103 and 104: Principle Action Outcome Independen
Page 105 and 106: The group’s governance is facilit
Page 107 and 108: The chief executive is mandated and
Page 109 and 110: Board meetings A minimum of four bo
Page 111 and 112: The audit committee is primarily re
Page 113 and 114: The committee has adopted a written
Page 115 and 116: The key risks that are identified,
Page 117 and 118: Internal control The board of direc
Page 119 and 120: The group has continued to actively
Page 121 and 122: Group 2010 2009 2008 2007 2006 2005
Page 123 and 124: Group statistics 2010 2009 2008 200
Page 125 and 126: Types of shareholders at 30 June 20
Page 127 and 128: principles of inclusivity, material
Page 129 and 130: The board and the remuneration comm
Page 131 and 132: Prior to the commencement of the re
Page 133 and 134: the travel and leisure sector that
Page 135 and 136:
Share plan Date of grant Grant pric
Page 137 and 138:
Emoluments Executive directors’ r
Page 139 and 140:
for the year ended 30 June NOTES TO
Page 141 and 142:
The annual financial statements whi
Page 143 and 144:
TO THE MEMBERS OF SUN INTERNATIONAL
Page 145 and 146:
HOLDING COMPANY The company has no
Page 147 and 148:
which the entity operates (the func
Page 149 and 150:
elating to certain firm commitments
Page 151 and 152:
expenditure represents the total co
Page 153 and 154:
government and other government rel
Page 155 and 156:
GROUP STATEMENTS OF FINANCIAL POSIT
Page 157 and 158:
Notes GROUP STATEMENTS OF CHANGES I
Page 159 and 160:
for the year ended 30 June Operatin
Page 161 and 162:
Page 163 and 164:
Page 165 and 166:
14. PROPERTY, PLANT AND EQUIPMENT (
Page 167 and 168:
15. INTANGIBLE ASSETS (continued) S
Page 169 and 170:
for the year ended 30 June 18. RETI
Page 171 and 172:
Page 173 and 174:
Page 175 and 176:
Page 177 and 178:
Page 179 and 180:
for the year ended 30 June 27. PROV
Page 181 and 182:
for the year ended 30 June 28. CASH
Page 183 and 184:
Page 185 and 186:
29. FINANCIAL INSTRUMENTS (continue
Page 187 and 188:
32. RELATED PARTY TRANSACTIONS Key
Page 189 and 190:
32. RELATED PARTY TRANSACTIONS (con
Page 191 and 192:
NOTES TO THE GROUP FINANCIAL STATEM
Page 193 and 194:
Page 195 and 196:
Page 197 and 198:
COMPANY STATEMENTS OF FINANCIAL POS
Page 199 and 200:
COMPANY STATEMENTS OF CHANGES IN EQ
Page 201 and 202:
NOTES TO THE COMPANY FINANCIAL STAT
Page 203 and 204:
Page 205 and 206:
Page 207 and 208:
Notice is hereby given that the twe
Page 209 and 210:
Litigation statement The directors
Page 211 and 212:
SUN INTERNATIONAL LIMITED (Incorpor
Page 213 and 214:
SUN INTERNATIONAL LIMITED Incorpora
show all

PDF 25 MB - Sun International | Investor Centre

Create successful ePaper yourself

Delete template?

Save as template?