Amana Takaful PLC. Interim Report. 31st March 2017

Transcription

1 Interim Report 31st March 2017

2 STATEMENT OF FINANCIAL POSITION Unaudited as at Audited as at Unaudited as at Audited as at AS AT Notes Rs. Rs. Rs. Rs. ASSETS Intangible Assets 35,577,847 36,658,107 7,882,714 8,215,697 Property, Plant and Equipment 95,885, ,870,083 77,031,952 81,974,142 Deferred Tax Asset ,402, ,330,875 97,594,408 97,594,408 Investment Property 78,500,000 78,500,000 78,500,000 78,500,000 Investment in Subsidiary 1,074,322,352 1,074,322,352 Financial Assets 3 2,523,102,853 2,305,094, ,154, ,366,499 Retakaful (Reinsurance) Receivables 366,329, ,234, ,158, ,900,783 Contribution (Premium) Receivable 562,877, ,594, ,784, ,235,215 Other Assets 416,182, ,070, ,642, ,983,447 Other Assets Unit Linked 35,821,359 32,055,415 Financial Assets Unit Linked 1,467,303,861 1,441,276,268 Cash and Bank Balances 137,838, ,874, ,711,257 78,897,531 Cash and Bank Balances Unit Linked 67,860,403 72,192,842 Total Assets 5,891,683,566 5,517,752,102 3,074,782,785 2,939,990,074 LIABILITIES Insurance Contract Liabilities Non Life 908,828, ,870, ,066, ,675,481 Insurance Contract Liabilities Family Takaful Fund 569,024, ,913,844 Insurance Contract Liabilities Family Takaful Unit Linked 1,529,464,641 1,504,144,873 Employee Benefits 40,064,350 38,871,095 23,405,710 23,997,243 Subordinated Debt 200,000, ,000, ,000, ,000,000 Other Liabilities Unit Linked 44,287,593 50,315,576 Other Liabilities 706,594, ,230, ,576, ,572,524 Finance Lease Liability 11,042,628 12,503,061 5,087,704 6,302,143 Short Term Borrowings 42,459,141 87,657,018 42,459,141 87,657,018 Bank Overdrafts 156,648,848 40,892, ,648,848 38,493,174 Total Liabilities 4,208,414,942 3,877,398,389 1,299,243,727 1,181,697,583 SHAREHOLDERS' EQUITY Stated Capital 1,860,001,339 1,860,001,339 1,860,001,339 1,860,001,339 Other Reserves 88,585,884 85,869,346 34,331,677 34,331,677 Revenue Reserves (532,519,826) (567,429,563) (118,793,958) (136,040,525) 1,416,067,397 1,378,441,122 1,775,539,058 1,758,292,491 Non Controlling Interest 267,201, ,912,591 Total Equity 1,683,268,624 1,640,353,713 1,775,539,058 1,758,292,491 Total Liabilities and Equity 5,891,683,566 5,517,752,102 3,074,782,785 2,939,990,074 I certify that the preparation and presentation of these Financial Statements comply with the requirements under Companies Act, No. 07 of Signed Signed M. Rinaz Niyas M. Fazal Ghaffoor Head of Finance Chief Executive Officer Signed for and on behalf of the Board Signed Dr. I.A. Ismail Director Signed M.H.M. Rafiq Director Colombo 15th May

3 STATEMENT OF PROFIT OR LOSS FOR THE PERIOD ENDED 31ST MARCH Change Change Notes Rs. Rs. % Rs. Rs. % Gross Written Contribution (Premium) 4 970,914, ,349,518 2% 436,222, ,287,475 10% Retakaful Contribution (Reinsurance Premium) (299,502,966) (293,548,602) 2% (118,236,351) (88,517,845) 34% Net Written Contribution (Premium) 671,411, ,800,916 2% 317,986, ,769,630 4% Net Change in Reserve for UnEarned Contribution (Premium) (21,087,561) (7,703,144) 174% (1,045,688) 10,208, % Net Earned Contribution (Premium) 650,324, ,097,772 0% 316,940, ,977,990 0% Other Revenue Income from investments 94,867,230 42,776, % 23,970,528 15,642,910 53% Other income 13,439,989 11,932,070 13% 1,402, ,081 45% Total Revenue 5 758,631, ,806,836 7% 342,313, ,588,981 3% Benefits, Losses and Expenses Takaful (Insurance) claims and benefits (383,253,671) (339,488,463) 13% (173,445,019) (233,884,859) 26% Acquisition Cost (net of reinsurance commission) (37,257,952) (69,582,184) 46% (14,387,957) (16,880,042) 15% Change in Family Takaful Contract Liability (32,528,720) (75,276,247) 57% Other Operating and Administration Expenses (249,937,756) (220,974,385) 13% (123,290,704) (121,819,187) 1% Depreciation (6,102,956) (7,500,499) 19% (4,991,279) (6,233,247) 20% Total Claims, Benefits and Expenses (709,081,055) (712,821,778) 1% (316,114,959) (378,817,335) 17% Profit from Operations 49,550,444 (5,014,942) 1088% 26,198,640 (45,228,354) 158% Finance cost (9,280,066) (4,794,021) 94% (8,952,073) (4,252,971) 110% Profit / (Loss) Before Taxation 8 40,270,378 (9,808,963) 511% 17,246,567 (49,481,325) 135% Income Tax Expenses 9 (1,418,210) (6,095,086) 77% Net Profit / (Loss) for the Period 38,852,167 (15,904,049) 344% 17,246,567 (49,481,325) 135% Attributable to: Rs Rs Equity holders of the parent 35,516,747 (30,292,814) NonControlling Interest 3,335,420 14,388,765 38,852,167 (15,904,049) Rs Rs Rs Rs Basic / Diluted Earnings / (Loss) Per Share Weighted Average To Equity Holders 0.02 (0.02) 198% 0.01 (0.03) 129% Dividend per share Interim dividend paid per share Final proposed dividend per share 2

4 STATEMENT OF OTHER COMPREHENSIVE INCOME FOR THE PERIOD ENDED 31ST MARCH Change Change Rs. Rs. % Rs. Rs. % Other Comprehensive Income Profit/(Loss) for the period 38,852,167 (15,904,049) 344% 17,246,567 (49,481,325) 135% Change in Fair Value of Available for Sale Financial Assets (519,329) (4,453,439) 88% (1,421,595) 100% Fair Value of Available for Sale Financial Assets reclassified to profit or loss 2,498, % 2,498, % Fair Value of Available for Sale Financial Assets Transferred to Policyholder's Reserve (357,088) (5,291,155) 93% Foreign Currency Translation Differences for Foreign Operations 4,939,160 (535,476) 1022% Total Comprehensive Income / (Loss) for the period 42,914,911 (23,685,641) 281% 17,246,567 (48,404,442) 136% Attributable to; Equity holders of the parent 40,692,289 (36,469,112) NonControlling Interest 2,222,622 12,783,471 42,914,911 (23,685,641) 3

5 GROUP STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED 31ST MARCH 2017 Stated Capital Revaluation Reserve Other Reserves Exchange Fluctuation Reserve Available For Sale Reserve Revenue Reserves Policy Holder's Rserve Accumulated Losses Non Controlling Interest Total Equity (Rs) (Rs) (Rs) (Rs) (Rs) (Rs) (Rs) (Rs) Balance as at 1st January ,650,001,188 36,501,152 43,604,300 (5,568,308) (98,867.00) (420,838,634) 205,893,654 1,509,494,485 Net Profit/ (Loss) for the period (30,292,814) 14,388,765 (15,904,049) Other Comprehensive Income Net Change in Fair Value of Available for Sale Financial Assets (3,089,109) (1,364,330) (4,453,439) Net Change in Fair Value of AvailableforSale Financial Assets Transferred to Profit or Loss 2,498,478 2,498,478 Net Change in Fair Value of AvailableforSale Financial Assets (5,291,155) (5,291,155) Foreign Currency Translation Difference (294,512) (240,964) (535,476) Total Comprehensive Income (294,512) (590,631) (5,291,155) (30,292,814) 12,783,471 (23,685,641) Balance as at 31st March ,650,001,188 36,501,152 43,309,788 (6,158,939) (5,390,022) (451,131,448) 218,677,125 1,485,808,844 Net Loss for the period (124,141,375) (6,112,872) (130,254,247) Other Comprehensive Income Net Change in Fair Value of Available for Sale Financial Assets 2,026,342 1,195,140 3,221,482 Net Change in Fair Value of AvailableforSale Financial Assets Transferred to Profit or Loss Net Change in Fair Value of AvailableforSale Financial Assets Transferred (to)/ from Policyholders Resrve 4,230,873 (317,466) 8,112,121 12,025,528 2,524,801 (11,290) 2,513,511 Net Change in Revaluation of Property, plant and equipment Transfer from the Revaluation Reserve Defined Benefit Plan Actuarial Losses, Net of Deferred Tax (2,488,663) (163,724.00) (2,652,387) Foreign Currency Translation Difference 8,324,687 6,811,107 15,135,794 Total Comprehensive Income 8,324,687 6,257,215 2,207,335 (126,630,038) 9,830,482 (100,010,319) Transfer of revaluation surplus to retained earnings, at the disposal (2,049,333) 2,049,333 Dividend Paid (17,004,949) (17,004,949) Expenses on Initial Public Offer (13,440,014) (13,440,014) Ordinary Shares issued 210,000, ,000,151 Changes in ownership interests Effect of acquisitions, disposals and change in percentage holdings in subsidiaries (216,948) 9,887 24,797,128 50,409,933 75,000,000 Total changes in ownership interests 210,000,151 (2,266,281) 9,887 13,406,447 33,404, ,555,188 Balance as at 31st December ,860,001,339 34,234,871 51,634,475 98,276 (3,172,800) (564,355,039) 261,912,591 1,640,353,713 Net Profit for the period 35,516,747 3,335,420 38,852,167 Other Comprehensive Income Net Change in Fair Value of Available for Sale Financial Assets (285,631) (233,698) (519,329) Net Change in Fair Value of AvailableforSale Financial Assets (321,379) (35,709) (357,088) Foreign Currency Translation Difference 2,716,538 2,222,622 4,939,160 Total Comprehensive Income 2,716,538 (285,631) (321,379) 35,516,747 5,288,635 42,914,911 Balance as at 31st March ,860,001,339 34,234,871 54,351,013 (187,355) (3,494,179) (528,838,292) 267,201,226 1,683,268,624 4

6 COMPANY STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED 31ST MARCH 2017 Stated Capital Revaluation Reserve Accumulated Profit/ (Losses) Available For Sale Reserve Total Equity (Rs) (Rs) (Rs) (Rs) (Rs) Balance as at 1st January ,650,001,188 34,331,677 5,579,511 3,546,564 1,693,458,940 Net Loss for the period (49,481,326) (49,481,326) Other Comprehensive Income Net Change in Fair Value of Available for Sale Financial Assets (1,421,595) (1,421,595) Net Change in Fair Value of AvailableforSale Financial Assets Transferred to Profit or Loss 2,498,478 2,498,478 Total Comprehensive Income (49,481,326) 1,076,883 (48,404,443) Balance as at 31st March ,650,001,188 34,331,677 (43,901,815) 4,623,447 1,645,054,497 Net Loss for the period (89,692,039) (89,692,039) Other Comprehensive Income Net Change in Fair Value of Available for Sale Financial Assets 565, ,616 Net Change in Fair Value of AvailableforSale Financial Assets Transferred to Profit or Loss (5,189,063) (5,189,063) Defined Benefit Plan Actuarial Losses, Net of Deferred Tax (2,446,671) (2,446,671) Total Comprehensive Income (92,138,710) (4,623,447) (96,762,157) Ordinary Shares issued 210,000, ,000,151 Total changes in ownership interests 210,000, ,000,151 Balance as at 31st December ,860,001,339 34,331,677 (136,040,525) 1,758,292,491 Net Profit for the period 17,246,567 17,246,567 Other Comprehensive Income Total Comprehensive Income 17,246,567 17,246,567 Balance as at 31st March ,860,001,339 34,331,677 (118,793,958) 1,775,539,058 5

7 CASH FLOW STATEMENT FOR THE PERIOD ENDED 31ST MARCH Rs Rs Rs Rs Cash Flows from Operating Activities Contribution (Premium) received from customers 831,631, ,377, ,673, ,548,009 Retakaful (Reinsurance) Premium paid (107,837,388) (179,202,745) (56,103,305) (64,767,473) Claims, Benefits and Expenses paid (724,880,014) (471,907,552) (314,274,902) (300,300,359) Retakaful (Reinsurance) Receipts in respect of Claims 87,501,113 37,427,763 66,215,251 12,474,604 Cash paid to and behalf of Employees (140,637,262) (129,478,247) (85,600,327) (78,362,572) Profits received from Investments and Other Income 46,214,853 32,785,667 5,205,480 15,456,149 Dividends received 83,851 2,745,211 2,263,643 Finance Cost paid (9,280,066) (4,794,021) (8,952,073) (4,252,971) Other operating cash receipts/ (payments) (41,224,386) (12,489,310) (31,913,155) (3,295,640) Cash Flow from/(used in) Operating Activities (Note A) (58,428,159) 128,464,420 (34,749,962) (43,236,612) Gratuity Paid (1,342,091) (1,377,897) (1,342,091) (1,377,897) Net Cash Flow from/(used in) Operating Activities (59,770,250) 127,086,523 (36,092,053) (44,614,509) Cash Flows from/(used in) Investing Activities Net Disposal/(Purchase) of Investment Securities (313,671,562) (426,690,297) (4,812,178) (206,344,456) Purchase of Intangible Assets (985,691) Purchase of Property, Plant & Equipment (118,438) (49,089) (985,691) Net Cash Flow used in Investing Activities (313,790,000) (427,675,988) (4,861,267) (207,330,147) Cash Flows from Financing Activities Repayment of Lease Facility (1,460,433) (729,566) (1,214,439) (729,566) Settlement of Short Term Borrowings (45,197,877) (45,197,877) Net cash flows from financing activities (46,658,310) (729,566) (46,412,316) (729,566) Decrease in Cash and Cash Equivalents (Note B) (420,218,560) (301,319,031) (87,365,636) (252,674,221) NOTE A Reconciliation of Operating Profit/(Loss) with Cash Flows from Operations Profit/ (Loss) from Operations 49,550,444 (5,014,943) 26,198,640 (45,228,354) Depreciation 6,102,956 7,500,499 4,991,279 6,233,247 Amortisations 1,080,260 2,939, , ,295 Provision for Gratuity 2,535,346 1,967, ,558 (579,432) Unrealised (Income)/Losses (876,417) (7,246,116) 1,076,882 (Increase)/Decrease in Debtors and Other Assets (368,194,410) (121,121,028) (104,465,668) (67,236,306) Increase in Family Takaful (Long Term Insurance) Fund 34,430,862 75,548,330 Increase/(Decrease) in Unearned Contribution (Premium) 21,087,561 16,321,863 1,045,688 (10,208,360) Increase/(Decrease) in Claims Provision (30,129,648) (8,641,065) (89,654,947) 3,218,209 Increase/(Decrease) in Other Creditors 235,264, ,003, ,003,578 73,458,179 Finance Cost Paid (9,280,066) (4,794,021) (8,952,073) (4,252,971) Cash Flows from/(used in) Operating Activities (58,428,159) 128,464,420 (34,749,962) (43,236,611) NOTE B Increase/( Decrease ) in Cash and Cash Equivalents Cash at bank and in Hand and Cash Equivalents 438,724, ,084, ,358, ,570,059 Over drafts (156,648,848) (53,716,302) (156,648,848) (53,716,302) Cash and Cash Equivalents at the end of the period 282,075, ,368,603 64,709, ,853,757 Cash and Cash Equivalents at the beginning of the year 702,293, ,687, ,075, ,527,978 Decrease in Cash and Cash Equivalents (420,218,560) (301,319,031) (87,365,636) (252,674,221) 6

8 STATEMENT OF FINANCIAL POSITION FAMILY TAKAFUL / LIFE INSURANCE SEGMENT SUPPLEMENTAL Unaudited as at Audited as at AS AT Rs. Rs. ASSETS Intangible Assets 23,224,612 23,548,554 Property, Plant and Equipment 16,334,887 17,466,682 Financial Assets 1,082,489,140 1,018,398,153 Retakaful Receivable 4,255,222 2,250,872 Contribution (Premium) Receivable 23,093,940 27,199,034 Other Assets 30,957,189 38,754,561 Other Assets Unit Linked 35,821,362 32,055,415 Financial Assets Unit Linked 1,467,303,861 1,441,276,267 Cash and Bank Balances 21,005,491 34,456,620 Cash and Bank Balances Unit Linked 67,860,403 72,192,842 Total Assets 2,772,346,105 2,707,599,000 LIABILITIES Insurance Contract Liability Family Takaful Fund 569,024, ,913,844 Insurance Contract Liability Family Takaful Linked Unit Linked 1,529,464,641 1,504,144,873 Employee Benefits 5,022,895 4,316,884 Finance Lease Liability 5,954,924 6,200,918 Other Liabilities 81,539,644 59,189,744 Other Liabilities Unit Linked 44,287,593 50,315,575 Total Liability 2,235,294,289 2,184,081,838 SHAREHOLDERS' EQUITY Stated Capital 500,000, ,000,000 Other Reserves (3,026,024) (2,668,935) Retained Earnings 40,077,840 26,186,097 Total Equity 537,051, ,517,162 Total Equity & Liability 2,772,346,105 2,707,599,000 The above Long Term Insurance ( Family Takaful ) Balance Sheet is to be read in conjunction with the consolidated Statement of Financial Position. 7

9 NOTES TO THE FINANCIAL STATEMENTS 1. Figures in the Interim Financial Statements for the period ended 31st March 2017 are provisional and unaudited. 2. These Interim Financial Statements of the and have been prepared in accordance with Sri Lanka Accounting Standards (SLAS) prefixed both SLFRS (corresponding to IFRS) and LKAS (corresponding to IAS), promulgated by the Institute of Chartered Accountants of Sri Lanka (ICASL) and comply with the requirements of the Companies Act, No. 7 of 2007 and the Regulation of Insurance Industry Act, No. 43 of The same accounting policies and methods of computation as stated in the Annual Report 2016 have been followed in preparation of these Interim Financial Statements. Comparative information has been revalued/reclassified where necessary, to confirm to the current period recognition, measurement and presentation. 3. Financial Assets Unaudited as at Audited as at Unaudited as at Audited as at AS AT Rs. Rs. Rs. Rs. Financial Assets at Fair Value Through Profit or Loss (3.1) 60,204,938 26,751,433 Available For Sale Financial Assets (3.2) 50,349,171 87,440, , ,000 Loans & Receivables (3.3) 2,412,548,744 2,190,903, ,629, ,841,499 2,523,102,853 2,305,094, ,154, ,366,499 Unaudited as at Audited as at Unaudited as at Audited as at AS AT Rs. Rs. Rs. Rs. 3.1 Financial Assets at Fair Value Through Profit & Loss Investments in Equity Securities 60,204,938 26,751,433 60,204,938 26,751, Available For Sale Financial Assets Investments in Equity Securities Quoted 37,593,383 Unit Trust 42,547,615 42,178,119 Investments in Equity Securities Unquoted 7,801,555 7,668, , ,000 Treasury Bills 3.3 Loans and Receivable 50,349,171 87,440, , ,000 Repurchase Agreements 497,430, ,228, ,286, ,928,769 Murabaha Investments 380, ,126,704 Commercial Papers 135,135, ,499, ,251, ,967,918 Mudharabaha Investments 1,662,182,851 1,071,917, ,091, ,790,356 Bank Deposits 116,938,221 Advances to Officers 481,513 12,130,593 11,154,456 2,412,548,744 2,190,903, ,629, ,841, Gross Written Premium (Contribution) FOR THE PERIOD ENDED 31ST MARCH Rs. Rs. Rs. Rs. 4.1 NonLife (General Takaful) Motor 235,962, ,614, ,817, ,240,098 Fire 210,766, ,236,924 53,422,067 39,076,596 Marine 75,846,653 44,074,115 38,964,709 11,181,311 Medical 73,935, ,229,964 73,935,134 54,864,665 Miscellaneous 183,345, ,521,944 47,083,292 60,924, ,857, ,677, ,222, ,287, Long Term Insurance (Family Takaful) Family Takaful 28,169,682 27,249,526 Mortgage & Family Takaful 14,167,075 17,784,675 Unit Linked 148,720, ,638, ,057, ,672,514 Total Gross Written Premium 970,914, ,349, ,222, ,287,475 8

10 NOTES TO THE FINANCIAL STATEMENTS 5. Revenue 5.1 Revenue by Segment FOR THE PERIOD ENDED 31ST MARCH Rs. Rs. Rs. Rs. Segment NonLife (General Takaful) 171,810, ,578, ,810, ,578,444 Long Term (Family Takaful) 242,642, ,612,641 Shareholders' Fund () 170,503, ,010, ,503, ,010,537 Shareholders' Fund (Amana Takaful Life PLC) 12,140,127 5,002,673 Amana Global Ltd 1,500,000 1,539,527 Amana Takaful (Maldives) PLC 161,535, ,563,016 Eliminations (1,500,000) (1,500,000) 758,631, ,806, ,313, ,588, Revenue FOR THE PERIOD ENDED 31ST MARCH Rs. Rs. Rs. Rs. Gross written Contribution (Premium) 970,914, ,349, ,222, ,287,475 Less : Reinsurance premium (299,502,966) (293,548,602) (118,236,351) (88,517,845) Net written premium 671,411, ,800, ,986, ,769,630 (Increase)/decrease in net unearned premium (21,087,561) (7,703,144) (1,045,688) 10,208,360 Net earned premium 650,324, ,097, ,940, ,977,990 Income from investments 94,867,230 42,776,994 23,970,528 15,642,910 Other income 13,439,989 11,932,070 1,402, ,081 Revenue 758,631, ,806, ,313, ,588, The has not done a valuation of the insurance contract liabilities Life (Family Takaful) by the consultant actuary for the period ended 31st March Valuation will be performed annually. 7. The has not done a Liability Adequacy Test (LAT) in respect of Insurance Contract Liabilities NonLife Fund as required by SLFRS 4 Insurance Contracts as at 31st March LAT will be performed annually. 8. Profit/ (Loss) Before Taxation by Segment Segment Non Life General Takaful 11,424,917 (36,616,758) 11,424,917 (36,616,757) Shareholders' Fund () 5,821,650 (12,864,568) 5,821,650 (12,864,568) Amana Global Ltd 85,025 (814,758) Amana Takaful Maldives PLC 8,656,417 38,070,114 Shareholders' Fund (Amana Takaful Life PLC) 13,891,744 2,026,382 Eliminations 390, ,625 Total 40,270,378 (9,808,963) 17,246,567 (49,481,325) 9

11 NOTES TO THE FINANCIAL STATEMENTS is liable to income tax at 28% ( %) 9.2 Amana Global Ltd. which is approved under Section 17 of the BOI Law is liable to income tax at 15% ( %) 9.3 Amana Takaful Maldives PLC is liable to income tax at 15% ( %) 9.4 Amana Takaful Life PLC is liable for income tax at 28% ( %) 10. Deferred tax assets are recognied for unused tax losses to the extent that it is probable that future taxable profit will be available against which the losses can be utilised. Significant management judgement is required to determine the amount of deferred tax assets that can be recognised, based on the likely timing and the level of future taxable profits together with future tax planning strategies. The Deferred tax assets has been recognised only for the general insurance segment and no deferred tax asset is recognised for the life segment on the tax losses amounting to Rs. Rs.641,114,691/ (2015 Rs.678,337,421/ ). 11. The nature of related party transactions in the current period is similar to those reported in the Annual Report On 24th June 2016, shareholders of the at an Extraordinary General Meeting, approved a Right Issue of 300,000,216 ordinary shares with one ordinary share for every five existing ordinary shares, at an exercise price of Rs per share. 15. There has not been a significant change in the assets pledged as disclosed in the Annual Report Comparative figures have been restated wherever necessary to conform to the current periods presentation. 15. There has not been a significant change in the nature of thecontingent liabilities as disclosed in the Annual Report No events have occurred since the reporting date that necessitates adjustments to or disclosure in the Financial Statements. 17. Stated Capital as at 31st March 2017 is represented by shares in issue as given below: Unaudited Audited Number of shares as at Ordinary shares Voting 1,800,001,296 1,800,001, Share Information Rs. Rs. Rs. Rs. Net asset value per share Market price per share as at Highest price per share for the period Lowest price per share for the period

12 NOTES TO THE FINANCIAL STATEMENTS Twenty Largest Shareholders as at 31st March 2017 Name of Shareholder No. of Shares % Amana Holdings Limited 1,100,365, Amana Bank PLC 274,614, Dr. Thirugnanasambandar Senthilverl 85,653, Expolanka Holdings PLC 79,096, Falcon Trading (Pvt) Ltd 23,686, Mr. Hitihami Koralage Pushpakumara 7,471, Mr. Osman Kassim 6,691, Mr. Mohamed Haji Omar 5,515, Mr. Riyaz Mohamed Sangani 5,215, Mrs. Pattini Deva Ashoka Swarna Kanthie Beruwelage 4,226, Seylan Bank PLC/Jayantha Dewage 4,143, Ms. Yoosuf Ali Shameela 3,100, Mr. Sithambaram Pillai Jayakumar 3,000, Mrs. Nabeela Haroon 2,700, Mr. Mohamed Imtiaz Samsudeen 2,598, Mr. Gajath Chrysantha Goonetilleke 2,560, Shari Investments Private Limited 2,500, Mr. Mohamed Hussain Mohamed Nazeer 2,410, Mr. Borala Liyanage Jayaratne 2,250, Mr. Riffat Kassim 2,250, Mr. Nandadeva Perera 2,214, ,622,262, Others 177,738, Total 1,800,001, The percentage of shares held by the public as at 31st March 2017 was 24.67% ( %), where the number of shareholders was 6,570 ( ,654). Directors' Shareholdings No. of Shares No. of Shares Mr. Tyeab Akbarally Mr. Osman Kassim 6,691,624 6,691,624 Mr. M.H.M. Rafiq Dato' Mohd. Fadzli Yusof Nil Nil Dr. A.A.M. Haroon Mr. M. Ehsan Zaheed (Resigned w.e.f ) 65,000 65,000 Mr. A.S.M. Muzzammil Nil Nil Dr.I.A. Ismail Nil Nil Mr. R. Gopinath Nil Nil Mr. M.H. Sattar Kassim Nil Nil Mr. M.R.M. Nayeem Nil Nil 11

13 CORPORATE INFORMATION NAME OF THE COMPANY REGISTERED OFFICE No /1, Galle Road, Colombo 03, Sri Lanka LEGAL STATUS Public Quoted with Limited Liability incorporated in Sri Lanka on 7th December Registered under the Companies Act, No. 07 of 2007 on 27th June SUBSIDIARY Amana Takaful Life PLC No /1, Galle Road, Colombo 03, Sri Lanka Amana Takaful (Maldives) PLC H. Mialani, Sosun Mogu, Male, Republic of Maldives COMPANY REGISTRATION NUMBER PQ 23 Amana Global Limited TAX PAYER IDENTIFICATION NUMBER(TIN) No. 6, Glen Aber Place, Colombo 04, Sri Lanka AUDITORS STOCK EXCHANGE LISTING Ernst & Young Chartered Accountants The shares of the are listed in the Second Board of the Colombo Stock Exchange, Sri Lanka in November Stock Exchange Code for Amana Takaful PLC shares is 'ATL'. CONSULTANT ACTUARIES LONGTERM INSURANCE Actuarial Partners Consulting Sdn Bhd DIRECTORS Suite Kenanga International Mr.Tyeab Akbarally Chairman Jalan Sultan Ismail Mr. Osman Kassim Kuala Lumpur, Malaysia Dato' Mohd Fadzli Yusof Dr. A.A.M. Haroon CONSULTANT ACTUARIES GENERAL INSURANCE Mr. M.H.M. Rafiq NMG Financial Services Consulting Pte Limited Mr. M. Ehsan Zaheed ( Resigned w.e.f ) 65 Chulia Street Mr. A.S.M. Muzzammil #3707/08, OCBC Centre Dr.I.A. Ismail Singapore Mr. R. Gopinath Mr. M.R.M. Nayeem REINSURANCE PANEL Mr. M.H. Sattar Kassim Swiss Re Emirates Re SHARIAH ADVISORY COUNCIL GIC Retakaful Mufti M.I.M. Rizwe Chairman Labuan Reinsurance (L) Ltd AshSheikh Fazil Farook Trust International Bahrain AshSheikh Murshid Mulaffar Secretary Ironshore Score Re Hannover Re CHIEF EXECUTIVE OFFICER ATPLC Mr. M. Fazal Ghaffoor CHIEF EXECUTIVE OFFICER ATLPLC Mr. Gehan Shivantha Rajapakse SECRETARIES Managers & Secretaries (Pvt) Ltd PRINCIPAL BANKERS Amana Bank PLC/Pan Asia Bank/NDB/Bank of Ceylon Commercial Bank/Sampath Bank/HNB/Nations Trust Bank/Deutsche Bank