COMPANY STATEMENT OF INCOME Condensed Interim Financial Statements

Transcription

1 CARSON CUMBERBATCH PLC Condensed Interim Financial Statements For the Year ended 31st March 2016

2 COMPANY STATEMENT OF INCOME Condensed Interim Financial Statements A ou ts expressed i Sri La ka Rs. 000 For the three months ended 31st March For the Year ended 31st March Change Change % % Revenue 2,754 (2,337) (218) 516, ,013 (34) Direct operating expenses ,754 (2,337) (218) 516, ,013 (34) Other items of income Changes in fair value of financial assets held for trading (2,212) (4,165) (47) (1,498) 1,546 (197) Other items of expenses Administrative expenses (23,502) (17,187) 37 (73,587) (57,342) 28 Impairment of Business assets (3,357) (29,761) (89) (3,357) (29,761) (89) Foreign exchange (losses)/gain (4,902) 10,080 (149) (4,902) 10,080 (149) Profit from operations (31,219) (43,370) (28) 433, ,536 (39) Finance cost (24,040) (16,579) 45 (82,294) (62,465) 32 Profit before income tax expenses (55,259) (59,949) (8) 350, ,071 (46) Income tax expenses Current taxation (3,038) (1,324) (3,038) (1,324) - Profit for the period (58,297) (61,273) (5) 347, ,747 (46) Other Comprehensive income Unrealised loss on available for sale financial assets (1,006,001) (221,509) 354 (2,052,155) 556,835 (469) Total other comprehensive income (1,006,001) (221,509) 354 (2,052,155) 556,835 (469) Total comprehensive income for the period (1,064,298) (282,782) 276 (1,704,232) 1,202,582 (242) Earnings per ordinary share (Rs.) (0.30) (0.31) (5) (46) Dividend per ordinary share (Rs.) Change % column represents the percentage change in current period's results compared to comparative period of previous year. The above figures are subject to audit. The notes on pages 10 to 17 form an integral part of these financial statements 26th May

3 COMPANY STATEMENT OF FINANCIAL POSITION Condensed Interim Financial Statements A ou ts e pressed i Sri La ka s. As at As at 31st March (Audited) Assets Non Current Assets Investments in subsidiaries 10,256,764 10,096,196 Available-for-sale financial assets 2,252,081 4,304,236 Total non - current assets 12,508,845 14,400,432 Current Assets Trade receivables 146, ,947 Other non financial receivables 1, Current tax recoverable 5,874 7,684 Financial assets held for trading 22,080 22,229 Cash and cash equivalents 4,038 6,077 Total current assets 180, ,092 Total assets 12,689,476 14,619,524 Equity and Liabilities Equity Stated capital 1,114,652 1,114,652 Capital Reserve 287, ,552 Revenue reserves 9,927,811 12,025,154 Total equity 11,330,015 13,427,358 Current Liabilities Other financial payables 138, ,449 Loans and borrowings 1,220,486 1,061,717 Total current liabilities 1,359,461 1,192,166 Total liabilities 1,359,461 1,192,166 Total Equity and Liabilities 12,689,476 14,619,524 Net assets per ordinary share (Rs) I certify that these financial statements are in compliance with the requirements of Companies Act No. 07 of Sgd. A.P. Weeratunge Director - Finance Carsons Management Services (Pvt) Ltd. The Board of Directors is responsible for the preparation and presentation of these financial statements. These financial statements were approved by the Board on 26th May Sgd. Sgd. H. Selvanathan M. Selvanathan Director Director The notes on pages 10 to 17 form an integral part of these financial statements 2

4 COMPANY STATEMENT OF CHANGES IN EQUITY Condensed Interim Financial Statements A ou ts expressed i Sri La ka Rs. 000 Stated Capital Revenue Total Capital Reserve Reserve Equity Balance as at 31 st March 2015 (Audited) 1,114, ,552 12,025,154 13,427,358 Change relating to Super gain tax (Note 12) - - (1,463) (1,463) Profit for the period , ,923 Other comprehensive Income - - (2,052,155) (2,052,155) Total Comprehensive Income for the period - - (1,705,695) (1,705,695) Transactions with owners of the company Forfeited dividends - - 1,126 1,126 Dividend paid on Ordinary shares - - (392,774) (392,774) Balance as at 31st March 2016 (Unaudited) 1,114, ,552 9,927,811 11,330,015 Balance as at 31 st March 2014 (Audited) 1,114, ,552 11,411,733 12,813,937 Profit for the period , ,747 Other comprehensive Income , ,835 Total Comprehensive Income for the period - - 1,202,582 1,202,582 Transactions with owners of the company Dividend paid - Ordinary shares - - (589,161) (589,161) Balance as at 31st March 2015 (Audited) 1,114, ,552 12,025,154 13,427,358 The above figures are subject to audit. The notes on pages 10 to 17 form an integral part of these financial statements 3

5 COMPANY STATEMENT OF CASH FLOW Condensed Interim Financial Statements A ou ts expressed i Sri La ka Rs. 000 For the Year ended 31st March Cash Flows from Operating Activities Profit before income tax expenses 350, ,071 Adjustments for: Foreign exchange loss 4,902 (10,080) Scrip dividend from subsidiaries (121,740) - Corporate Guarantee Income - (302) Mark to market value adjustments - Unrealized 1,498 (1,546) Impairment of Business assets 3,357 29,761 Profit on disposal non current investments (23,298) - Loss on Liquidation of investments - 2,402 Finance expenses 82,294 62,465 (52,987) 82,700 Operating profit before working capital changes 297, ,771 Decrease in trade and other receivables 34,457 54,262 Increase in trade and other payables 601 8, , ,408 Net cash movement in investment (1,345) - Cash generated from operations 331, ,408 Interest paid (82,294) (62,465) Income tax paid (1,228) (1,133) Super gain tax paid (Note 12) (1,463) - Net cash generated from operating activities 246, ,810 Cash Flows from Investing Activities Payments for acquisition of additional interest in subsidiaries (56,488) (182,420) Proceeds from disposal of long - term investments in Subsidiaries 37,601 - Net cash used in investing activities (18,887) (182,420) Cash Flows from Financing Activities Dividend paid by the Company (388,623) (582,450) Net cash used in financing activities (388,623) (582,450) Net decrease in cash & cash equivalents (160,808) (36,060) Cash & cash equivalents at the beginning of the year (1,055,640) (1,019,580) Cash & cash equivalents at the end of the period (1,216,448) (1,055,640) Statement of Cash & Cash Equivalents Cash and cash equivalents 4,038 6,077 4,038 6,077 Short term borrowings (1,220,486) (1,061,717) (1,216,448) (1,055,640) The above figures are subject to audit. The notes on pages 10 to 17 form an integral part of these financial statements 4

6 CONSOLIDATED STATEMENT OF INCOME Condensed Interim Financial Statements A ou ts expressed i Sri La ka Rs. 000 For the three months ended For the Year ended 31st March 31st March Change Change Notes % % Revenue 20,629,735 24,023,070 (14) 85,644,562 88,625,807 (3) Direct operating expenses (14,928,640) (17,366,121) (14) (62,748,044) (62,638,533) 0 5,701,095 6,656,949 (14) 22,896,518 25,987,274 (12) Other items of income Changes in fair value of investments properties 491, , , , Changes in fair value of biological assets 5 (223,579) (328,460) (32) 677,541 (108,866) (722) Changes in fair value of financial assets held for trading (230,416) (29,688) 676 (208,995) 196,438 (206) Other income 86, ,721 (83) 322, ,758 (51) Other items of expenses Distribution expenses (1,639,627) (1,713,939) (4) (5,699,938) (5,840,330) (2) Administrative expenses (1,034,870) (1,477,292) (30) (7,427,809) (6,872,374) 8 Other operating expenses (19,163) (112,177) (83) (312,518) (259,879) 20 Impairment of business assets (356,189) (384,511) (7) (356,189) (384,511) (7) Expenses relating to new investments - (339,810) (100) - (339,810) (100) Foreign exchange (losses)/gains 6 798,493 (1,222,837) (165) (253,901) (2,460,372) (90) Profit from operations 3,573,475 1,807, ,129,197 10,845,084 (7) Net finance cost (751,629) (469,240) 60 (3,018,889) (2,476,537) 22 Share of net results of Joint venture 2,576 1, ,809 (461) (1,143) Profit before income tax expenses 2,824,422 1,339, ,115,117 8,368,086 (15) Income tax expense Current taxation (88,598) (105,879) (16) (1,210,406) (1,926,386) (37) Deferred taxation (890,878) (278,319) 220 (1,353,001) (619,014) 119 (979,476) (384,198) 155 (2,563,407) (2,545,400) 1 Profit from continuing operations 1,844, , ,551,710 5,822,686 (22) Discontinued operation 7 Net impact from discontinued operation, net of tax 13,472 (3,389) (498) 156, ,208 (2) Profit for the period 1,858, , ,708,238 5,981,894 (21) Profit Attributable to: Owners of the Company 1,053, , ,378,258 3,085,593 (23) Non controlling interest 804, , ,329,980 2,896,301 (20) 1,858, , ,708,238 5,981,894 (21) Earnings per share (Rs.) (23) Earnings per share - Continuing operations (Rs.) (23) Dividend per ordinary share (Rs.) Change % column represents the percentage change in current period's results compared to comparative period of previous year. The above figures are subject to audit. Figures in brackets indicate deductions. The notes on pages 10 to 17 form an integral part of these financial statements 26th May

7 CONSOLIDATED STATEMENT OF OTHER COMPREHENSIVE INCOME Condensed Interim Financial Statements A ou ts expressed i Sri La ka Rs. 000 For the three months ended For the Year ended 31st March 31st March Change Change % % Profit for the period 1,858, , ,708,238 5,981,894 (21) Other Comprehensive Income Items that may be reclassified subsequently to profit or loss Unrealized gain / (loss) on available-for-sale financial assets (8,941,138) (1,913,656) 367 (9,644,508) 3,288,264 (393) Realized gain / (loss) on available-for-sale financial assets (76,349) (347,506) (78) (580,138) (1,009,320) (43) Exchange differences on translation of foreign operations 6,430,740 (3,631,436) (277) 1,830,407 (7,024,312) (126) Revaluation Surplus on lands 40, , Item that will not be reclassified subsequently to profit or loss: Acturial (losses)/gain on employee benefits 515,563 (38,443) (1,441) 515,563 (38,443) (1,441) Deferred tax benefits/(expenses) on acturial gain/(loss) (127,861) 6,073 (2,205) (127,861) 6,073 (2,205) Other comprehensive income / (expenses) for the Period net of tax (2,158,634) (5,924,968) (64) (7,966,126) (4,777,738) 67 Total Comprehensive Income /(expenses) for the period net of tax (300,216) (4,972,674) (94) (3,257,888) 1,204,156 (371) Attributable to: Owners of the Company (2,822,144) (3,358,354) (16) (3,268,701) 1,124,098 (391) Non controlling interest 2,521,928 (1,614,320) (256) 10,813 80,058 (86) (300,216) (4,972,674) (94) (3,257,888) 1,204,156 (371) The above figures are subject to audit. The notes on pages 10 to 17 form an integral part of these financial statements 26th May

8 CONSOLIDATED STATEMENT OF FINANCIAL POSITION Condensed Interim Financial Statements A ou ts expressed i Sri La ka Rs. 000 As at As at 31st March (Audited) Assets Non Current Assets Property, plant & equipment 59,607,418 58,198,456 Biological assets 54,803,114 47,034,490 Prepaid lease payment for land 4,836,796 4,466,870 Investment properties 2,799,626 2,355,945 Intangible assets 7,784,817 7,937,000 Investments in joint venture 31,677 25,913 Available-for-sale financial assets 17,973,231 27,202,494 Deferred tax assets 3,396,186 2,756,688 Other financial receivables 136, ,545 Other non financial receivables 4,709,516 2,841,838 Total non current assets 156,079, ,942,239 Current Assets Inventories 6,754,739 7,665,077 Trade receivables 3,622,642 4,491,999 Other financial receivables 460, ,608 Other non financial receivables 5,475,391 5,075,392 Assets held for sale 3,499, ,895 Current tax recoverable 45,487 83,209 Finacial Assets held for trading 2,869,271 2,712,236 Derivative financial instruments 31,567 42,383 Cash and cash equivalents 7,600,189 9,023,256 Total current assets 30,359,138 30,285,055 Total assets 186,438, ,227,294 Equity and Liabilities Equity Stated capital 1,114,652 1,114,652 Capital Reserve 5,312,420 5,303,520 Revenue reserves 34,212,454 38,241,591 Equity attributable to owners of the company 40,639,526 44,659,763 Non - controlling interest 36,943,020 37,402,995 Total equity 77,582,546 82,062,758 Liabilities Non Current Liabilities Loans and borrowings 42,508,798 46,533,446 Debenture 3,798,200 4,597,600 Other financial payables 63,559 55,818 Other non financial liabilities 1,079,813 1,254,959 Deferred tax liabilities 12,563,429 10,357,260 Total non current liabilities 60,013,799 62,799,083 Current Liabilities Trade payables 4,313,410 4,763,259 Other financial payables 14,282,218 8,485,042 Current tax liabilities 623, ,957 Liabilities associated with assets held for sale 148,546 - Loans and borrowings 28,515,064 24,517,231 Debenture 958, ,964 Total current liabilities 48,841,852 38,365,453 Total liabilities 108,855, ,164,536 Total equity and liabilities 186,438, ,227,294 Net assets per ordinary share (Rs.) I certify that these financial statements are in compliance with the requirements of Companies Act Sgd. A.P. Weeratunge Director - Finance Carsons Management Services (Pvt) Ltd. The Board of Directors is responsible for the preparation and presentation of these financial statements. These financial statements were approved by the Board on 26th May Sgd. Sgd. H. Selvanathan M. Selvanathan Director Director The above figures are subject to audit. The notes on pages 10 to 17 form an integral part of these financial statements 7

9 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY Condensed Interim Financial Statements A ou ts expressed i Sri La ka Rs. 000 Balance as at 31 st March 2015 (Audited) 1,114,652 5,303,520 38,241,591 44,659,763 37,402,995 82,062,758 Change relating to Super gain tax (Note 12) - - (266,210) (266,210) (244,811) (511,021) Adjustments for Investments Property - - (77,979) (77,979) (3,021) (81,000) 1,114,652 5,303,520 37,897,402 44,315,574 37,155,163 81,470,737 Profit for the period - - 2,378,258 2,378,258 2,329,980 4,708,238 Other comprehensive expenses for the period - 20,441 (5,667,401) (5,646,960) (2,319,167) (7,966,127) Total comprehensive expenses for the period - 20,441 (3,289,143) (3,268,702) 10,813 (3,257,888) Transaction with owners of the Company, recognised directly in equity Stated Capital Capital Reserves Revenue Reserves Attributable to owners of the company Non - controlling interest Total Equity Share issue by Subsidiaries ,408 89,408 Acquisition of Subsidiaries ,115 27,115 Movement due to changes in equity - (18,696) 3,410 (15,286) 23,365 8,079 Goodwill On Change in Shareholdings - - (60,915) (60,915) 4,189 (56,726) Dividend Paid to Ordinary Shareholders - - (392,774) (392,774) - (392,774) Dividend Paid to Non Controlling shareholders (414,603) (414,603) Forefieture of uncliamed dividends - - 5,477 5,477 3,577 9,054 Transfer & Other reserve Movement - 7,155 48,996 56,151 43, ,144 Total Transactions with owners of the Company - (11,541) (395,806) (407,347) (222,956) (630,303) Balance as at 31st March 2016 (Unaudited) 1,114,652 5,312,420 34,212,454 40,639,526 36,943,020 77,582,546 Balance as at 31st March 2014 (Audited) 1,114,652 5,271,697 37,806,301 44,192,650 38,939,136 83,131,786 Profit for the period - - 3,085,593 3,085,593 2,896,301 5,981,894 Other comprehensive income / (expenses) for the period - - (1,961,495) (1,961,495) (2,816,243) (4,777,738) Total comprehensive income for the period - - 1,124,098 1,124,098 80,058 1,204,156 Transaction with owners of the Company, recognised directly in equity Acquisition of Subsidiary , ,219 Share issue by subsidiary ,490 12,490 Goodwill on change in shareholdings - - (648,835) (648,835) (411,402) (1,060,237) Dividend Paid to Ordinary Shareholders - - (589,161) (589,161) - (589,161) Dividend Paid to Non Controlling shareholders (719,266) (719,266) Movement Due to Changes in Equity - 31, , ,011 (626,240) (45,229) Total Transactions with owners of the Company - 31,823 (688,808) (656,985) (1,616,199) (2,273,184) Balance as at 31st March 2015 (Audited) 1,114,652 5,303,520 38,241,591 44,659,763 37,402,995 82,062,758 The above figures are subject to audit. The notes on pages 10 to 17 form an integral part of these financial statements 8

10 CONSOLIDATED STATEMENT OF CASH FLOW Condensed Interim Financial Statements A ou ts expressed i Sri La ka Rs. 000 For the Year ended 31st March Cash Flows from Operating Activities Profit before income tax expenses 7,115,117 8,368,086 Adjustments for: Foreign exchange loss 253,901 2,460,372 Change in fair value of biological assets (677,541) 108,866 Gain from changes in fair value of investment properties (491,647) (265,756) Net impact from discontinued operation, net of tax 199, ,663 Unwinding of discount on compensation receivable (14,133) (12,639) Mark to market value adjustments - Unrealized 208,995 (196,438) Share of net result of Joint venture (4,809) 461 Unamortised cost - 594,395 Impairment of business assets 356, ,321 Depreciation on property, plant & equipment 3,477,516 2,995,610 Amortization of intangible assets/prepaid lease payment 396, ,024 Provision for retiring gratuity 312, ,830 Deposits liability writeback - (231,875) Finance expenses 3,018,889 2,476,537 Negative goodwill on consolidation - (70,944) Profit on disposal of property, plant & equipment 710 (22,022) Loss on disposal of investments (23,298) 2,402 7,013,102 9,355,807 Operating profit before working capital changes 14,128,219 17,723,893 (Increase)/decrease in inventories 910, ,552 (Increase)/decrease in trade and other receivables 178,879 (225,535) Increase/(decrease) in trade and other payables 5,347,327 (2,871,866) 20,564,763 14,873,044 Net cash movement in investment (1,456,533) (2,291,420) Cash generated from operations 19,108,230 12,581,624 Interest paid (3,752,934) (4,867,877) Income tax paid (1,173,608) (1,866,583) Super gain tax payment (Note 12) (511,021) - Gratuity paid (61,702) (53,745) Net cash generated from operating activities 13,608,965 5,793,419 Cash Flows from Investing Activities Payments for property, plant & equipment/investment property (5,032,059) (9,577,017) Payments for biological assets (3,154,349) (4,521,442) Payments for Intangible assets/prepaid lease payments (355,968) (5,116,139) Payments for acquisition of additional interest in subsidiaries (66,361) (1,093,163) Payments for Investment in subsidiaries (514,952) (1,131,309) Trade debtors movements (1,158,830) (669,154) Movement in Plasma investment (454,415) (1,160,333) Proceeds from disposal of long - term investments in Subsidiaries 37,601 - Proceeds from disposal of property, plant & equipment 577, ,411 Deposits received 171,822 5,763 Deposits refunded (19,112) (2,813) Net cash used in investing activities (9,968,653) (22,616,196) Cash Flows from Financing Activities Proceeds from long - term loans / Debenture 1,002,408 18,811,778 Payment of borrowings /debenture (6,167,146) (7,516,408) Payment of finance lease creditors (195,504) (96,563) Dividend paid to non -controlling shareholders by subsidiaries (272,917) (719,266) Dividend paid by the Company (388,623) (582,450) Net cash generated from/(used in) financing activities (6,021,782) 9,897,091 Net increase/(decrease) in cash & cash equivalents (2,381,470) (6,925,686) Cash & cash equivalents at the beginning of the year (8,220,065) (1,294,379) Cash & cash equivalents at the end of the period (10,601,535) (8,220,065) Statement of Cash & Cash Equivalents Cash and cash equivalents 7,600,189 9,023,256 7,600,189 9,023,256 Short term borrowings (18,201,724) (17,243,321) (10,601,535) (8,220,065) The above figures are subject to audit. The notes on pages 10 to 17 form an integral part of these financial statements 9

11 NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS Operating Segmental Information - Group (a). Segmental results are as follows: For the quarter ended 31st March A ou ts expressed i Sri La ka Rs. 000 Business Segment Investment Holdings Portfolio & Asset Management Oil Palm Plantations Oils and fats Beverage Real Estate Leisure Management Services Group Total revenue 2,754 (2,035) 395, ,060 7,248,486 7,391,150 6,843,644 8,137,908 8,741,953 9,528,654 59,657 55, , , , ,575 23,566,325 25,951,403 Intra segment revenue - - (279,038) (338,110) (1,732,021) (504,265) (32,190) (116,080) (22,541) (41,002) (2,065,790) (999,457) Segment revenue 2,754 (2,035) 116, ,950 5,516,465 6,886,885 6,811,454 8,021,828 8,719,412 9,487,652 59,657 55, , , , ,575 21,500,535 24,951,946 Inter segment revenue (146) (678,539) (722,204) (84,407) (101,648) - - (4,698) (4,491) - - (103,010) (100,533) (870,800) (928,876) Revenue 2,608 (2,035) 116, ,950 4,837,926 6,164,681 6,727,047 7,920,180 8,719,412 9,487,652 54,959 51, , ,370 3,811 4,042 20,629,735 24,023,070 Segment results (23,030) (23,676) (172,548) 182,313 2,265,237 2,576, , , , ,182 36,760 34,265 36,391 10,046 9,542 9,144 2,863,103 3,477,764 Changes in fair value of biological assets (223,579) (328,460) (223,579) (328,460) Changes in fair value of Investments properties , , , ,756 Impairment of business assets - - (95,232) (81,727) - - (260,957) - - (302,784) (356,189) (384,511) Foreign Exchange losses (4,902) 10, (96) 828,565 (1,235,630) (30,210) 8,676 4,734 (6,133) ,493 (1,222,837) Profits from operations (27,932) (13,596) (267,749) 100,490 2,870,223 1,012,546 (167,221) 177, , , , ,021 36,666 10,312 9,542 9,144 3,573,475 1,807,712 Net finance cost (24,035) (16,579) 17, (341,152) (123,973) (165,728) (136,924) (241,421) (196,813) (611) (918) 4,267 5, (751,629) (469,240) Share of net results of Joint venture - - 2,576 1, ,576 1,409 Profit/ (loss) before taxation (51,967) (30,175) (248,138) 102,705 2,529, ,573 (332,949) 40, ,118 14, , ,103 40,933 15,405 9,558 9,212 2,824,422 1,339,881 Income tax expenses Current taxation (3,019) (1,327) (6,877) (23,453) (299,432) (419,258) 532 (4,508) 229, ,291 (3,230) (4,185) (1,689) (1,629) (4,720) (8,810) (88,598) (105,879) Deferred taxation (2,016) (735,243) 198,726 82, ,005 (217,262) (622,871) (18,840) 3,507 (1,676) (1,670) - - (890,878) (278,319) (3,019) (1,327) (6,877) (25,469) (1,034,675) (220,532) 82, ,497 12,575 (265,580) (22,070) (678) (3,365) (3,299) (4,720) (8,810) (979,476) (384,198) Profit form continuing operations (54,986) (31,502) (255,015) 77,236 1,494, ,041 (250,274) 182, ,693 (251,128) 505, ,425 37,568 12,106 4, ,844, ,683 Discontinued operation Net impact from discontinued operation, net of tax ,472 (3,389) ,472 (3,389) Profit for the period (54,986) (31,502) (255,015) 77,236 1,507, ,652 (250,274) 182, ,693 (251,128) 505, ,425 37,568 12,106 4, ,858, ,294 Attributable to Owners of the Company (54,986) (31,502) (136,633) 45, , ,388 (218,829) 92, ,307 (117,330) 477, ,731 35,050 13,285 4, ,053, ,205 Non controlling interest - - (118,382) 31, , ,264 (31,445) 89, ,386 (133,798) 28,393 19,694 2,518 (1,179) , ,089 (54,986) (31,502) (255,015) 77,236 1,507, ,652 (250,274) 182, ,693 (251,128) 505, ,425 37,568 12,106 4, ,858, ,294 10

12 NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS Operating Segment Information -Group For the Year ended 31st March A ou ts expressed i Sri La ka Rs. 000 Business Segment Investment Holdings Portfolio & Asset Oil Palm Plantations Oils and fats Beverage Real Estate Leisure Management Services Group Management Total revenue 516, ,013 1,603,738 2,468,025 23,164,325 30,383,134 28,484,433 29,818,500 37,132,761 32,701, , , , , , ,861 92,103,303 97,207,760 Intra segment revenue - - (422,220) (401,102) (3,323,759) (5,418,966) (493,257) (270,275) (268,363) (306,384) (4,507,599) (6,396,727) Segment revenue 516, ,013 1,181,518 2,066,923 19,840,566 24,964,168 27,991,176 29,548,225 36,864,398 32,395, , , , , , ,861 87,595,704 90,811,033 Inter segment revenue (469,787) (767,869) - - (760,138) (722,204) (332,703) (363,219) - - (18,792) (16,991) - (369,722) (314,943) (1,951,142) (2,185,226) Revenue 46,812 17,144 1,181,518 2,066,923 19,080,428 24,241,964 27,658,473 29,185,006 36,864,398 32,395, , , , ,495 15,223 14,918 85,644,562 88,625,807 Segment results (28,282) (38,941) 733,576 2,066,991 4,593,191 8,197,941 63,811 (150,718) 4,005,753 3,261, , ,902 99,747 79,565 (38,827) (14,111) 9,570,099 13,533,077 Changes in fair value of biological assets ,541 (108,866) ,541 (108,866) Changes in fair value of Investments properties 491, , , ,756 Impairment of business assets - - (95,232) (81,727) - (260,957) - - (302,784) (356,189) (384,511) Foreign Exchange losses (4,902) 10, (68,216) (2,324,233) (190,000) (117,562) 8,853 (28,933) (253,901) (2,460,372) Profits from operations (33,184) (28,861) 638,433 1,985,274 5,202,516 5,764,842 (387,146) (268,280) 4,014,606 2,929, , , ,022 79,831 (38,827) (14,111) 10,129,197 10,845,084 Net finance cost (82,284) (62,465) 2 1,199 (1,398,815) (1,309,316) (550,455) (501,148) (1,004,575) (619,982) (2,977) (3,330) 20,104 18, (3,018,889) (2,476,537) Share of net results of Joint venture - - 4,809 (461) ,809 (461) Profit/ (loss) before taxation (115,468) (91,326) 643,244 1,986,012 3,803,701 4,455,526 (937,601) (769,428) 3,010,031 2,309, , , ,126 98,220 (38,716) (13,995) 7,115,117 8,368,086 Income tax expenses Current taxation (6,201) (5,395) (31,260) (62,550) (940,197) (1,517,201) (2,874) (5,854) (195,440) (297,495) (21,826) (20,426) (7,888) (8,655) (4,720) (8,810) (1,210,406) (1,926,386) Deferred taxation (2,016) (673,467) 36,527 95, ,185 (743,041) (796,072) (27,145) (7,820) (5,117) (5,818) - - (1,353,001) (619,014) (6,201) (5,395) (31,260) (64,566) (1,613,664) (1,480,674) 92, ,331 (938,481) (1,093,567) (48,971) (28,246) (13,005) (14,473) (4,720) (8,810) (2,563,407) (2,545,400) Profit/(loss) form continuing operations (121,669) (96,721) 611,984 1,921,446 2,190,037 2,974,852 (844,706) (619,097) 2,071,550 1,216, , , ,121 83,747 (43,436) (22,805) 4,551,710 5,822,686 Discontinued operation Net impact from discontinued operation, net of tax , , , ,208 Profit for the period (121,669) (96,721) 611,984 1,921,446 2,346,565 3,134,060 (844,706) (619,097) 2,071,550 1,216, , , ,121 83,747 (43,436) (22,805) 4,708,238 5,981,894 Attributable to: Owners of the Company (121,669) (96,721) 356,927 1,052,877 1,135,450 1,490,965 (550,290) (349,415) 953, , , , ,563 83,031 (43,436) (22,805) 2,378,258 3,085,593 Non controlling interest , ,569 1,211,115 1,643,095 (294,416) (269,682) 1,117, ,859 35,038 25,744 5, ,329,980 2,896,301 (121,669) (96,721) 611,984 1,921,446 2,346,565 3,134,060 (844,706) (619,097) 2,071,550 1,216, , , ,121 83,747 (43,436) (22,805) 4,708,238 5,981,

13 NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS Operating Segment Information -Group (b) Segments Assets/ liabilities are as follows: A ou ts expressed i Sri La ka Rs. 000 Investment Holding Portfolio & Asset Management Oil Palm Plantations Oils & Fats Beverage Real Estate Leisure Management Services Group As at SEGMENT ASSETS Non - Current Assets Fixed assets** - - 8,813 8,517 92,653,554 83,878,547 9,332,074 9,288,800 15,631,271 14,930,708 3,127,735 2,678,174 1,230,275 1,188,693 63,232 82, ,046, ,055,761 Intangible assets , ,740 1,609,435 1,569,787 1,729,817 1,665,337 4,233,748 4,489,791 27,584 27, ,493 1,761 7,784,817 7,937,000 Available-for-sale financial assets/joint venture 2,252,081 4,304,236 15,752,827 22,924, ,004,908 27,228,407 Deferred tax assets ,396,186 2,756, ,396,186 2,756,688 Other receivables ,709,516 2,841, , , ,846,194 2,964,383 Total non - current assets 2,252,081 4,304,236 15,944,380 23,115, ,368,691 91,046,860 11,061,891 10,954,137 19,865,019 19,420,499 3,155,319 2,705,758 1,366,953 1,311,238 64,725 84, ,079, ,942,239 Current Assets Inventories ,215,539 1,831,520 2,811,071 2,991,599 2,711,870 2,828, ,159 13, ,754,739 7,665,077 Trade detors and other receivables 9,701 7,834 87, ,988 3,194,909 4,103,322 3,763,391 3,678,671 2,395,430 2,173,268 85,404 69,991 57,395 50,411 41,090 48,105 9,635,241 10,392,591 Assets held for sale ,494, , , ,499, ,895 Fiancial assets held for trading 22,080 22,229 2,661,626 2,684, ,420 5, , ,869,271 2,712,236 Cash and cash equivalents 4,038 6,078 1,076,528 1,786,046 2,252,104 4,092, , ,514 3,767,617 2,326,081 10,538 28,937 35, ,765 20,182 32,514 7,600,189 9,023,256 Total current assets 35,819 36,141 3,826,075 4,731,730 10,157,050 10,027,163 7,013,083 7,290,095 8,880,117 7,820,049 95,942 98, , ,236 61,372 80,712 30,359,138 30,285,055 Total segmental assets 2,287,900 4,340,377 19,770,455 27,847, ,525, ,074,023 18,074,974 18,244,232 28,745,136 27,240,548 3,251,261 2,804,686 1,656,633 1,511, , , ,438, ,227,294 SEGMENT LIABILITIES Non - Current Liabilities Loans and borrowings ,041,760 38,871,451 4,050,522 4,494,633 7,214,716 7,764, ,306,998 51,131,046 Other liabilites , ,308 1,076,527 9,986 8, , ,642 67,930 61,056 16,450 12,495 49,888 39,820 1,143,372 1,310,777 Deferred tax liabilities ,236,570 7,648, , ,475 2,817,420 2,074, , ,341 39,514 34, ,563,429 10,357,260 Total non - current liabilities ,034 45,167,638 47,596,485 4,350,946 4,950,311 10,141,946 9,941, , ,397 55,964 47,054 49,888 39,820 60,013,799 62,799,083 Current Liabilities Trade and other payables 138, , , ,565 12,374,813 6,804,913 3,125,999 2,835,804 3,197,548 3,032, , , ,548 93,665 59,866 59,843 19,368,089 13,516,258 Loans and borrowings 1,220,486 1,061,717 13,049 2,556 14,138,290 10,496,733 7,933,262 7,004,767 6,166,876 6,283, , ,473,763 24,849,195 Total current liabilities 1,359,461 1,192, , ,121 26,513,103 17,301,646 11,059,261 9,840,571 9,364,424 9,315, , , ,348 93,665 59,866 59,843 48,841,852 38,365,453 Total segmental liabilities 1,359,461 1,192, , ,155 71,680,741 64,898,131 15,410,207 14,790,882 19,506,370 19,257, , , , , ,754 99, ,855, ,164,536 ** Fixed assets include, Property Plant & Equipments, Biological Assets, Leasehold land rights & Investment properties. 12

14 NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS 1. Reporting Entity Carson Cumberbatch PLC is a limited liability company which is incorporated in Sri Lanka. The ordinary shares of the Company have a primary listing on the Colombo Stock Exchange. The Group is a diversified conglomerate and one of the foremost business establishments in Sri Lanka backed by a heritage of well over 100 years. Today it is positioned as a company whose outlook is regional, focused on a future which is technology-oriented, results driven and world class. The businesses range from oil palm plantations in Malaysia and Indonesia, palm oil refining in Malaysia and India to breweries, investment holdings, portfolio & assets management, real estate and leisure in Sri Lanka. The Group has offices in Malaysia, Singapore, Indonesia and India in addition to Sri Lanka. There were no significant changes in the nature of the principal activities of the Company and the Group during the financial period under review. 2 Basis of Preparation of Interim Condensed Financial Statements These Interim Financial Statement of the Company and the Group have been prepared based on the Sri Lanka Accounting Standards LKAS 34 -Interim Financial reporting. There were no changes to the Accounting Policies and methods of computation since the publication of the Annual Report Previous year figures and phrases have been re-arranged wherever necessary to conform to the current presentation. 3 Segmental Information For a age e t purposes the Group s pri ary for at seg e t reporti g is I dustry seg e ts. The risks a d retur s of the Group s operatio s are pri arily determined by the nature of the different activities that the Group engages in, rather than the geographical location of these operations. This is refle ted y the Group s orga izatio al stru ture. I dustry seg e t a ti ities of the Group ha e ee roadly lassified i to eight seg e ts: I est e t Holdings, Portfolio and Asset Management, Oil Palm Plantations, Beverage, Real-Estate, Leisure, Oils & fats and Management Services according to the nature of product sold or service rendered. The principal product and services of each segments are follows. Investment Holdings - Holding of Strategic Investment Portfolio Management - Investment and management of listed, private equity, fixed income and unit trust investments Oil Palm Plantations - Production and sale of palm oil, palm kernel and fresh fruit bunches (FFB) to the local and international market Beverage Real Estate Leisure Oils & Fats -Production and sale of Beer, Import & distribution of alcoholic beverages - Letting office and warehouse premises on rent for commercial purposes - Hoteliering - Manufacturing, marketing and selling of refined oils and specialty fats to the bakery, chocolate and confectionery, ice creams and creamer industries and cooking oil products to end consumers Management Services - Providing support services to the Group Companies. Sales between segments are made at prices that approximate the market prices. Segment revenue, segment expenses and segment results include transactions between industry segments. These transactions and any unrealized profits and losses are eliminated on consolidation. Segmental expenses are expenses that are directly attributed to a relevant segment or a portion of expenses that can be allocated on a reasonable basis as determined by the Management. 4 Exchange Rates The results and net assets of the Group, as reported in Sri Lankan Rupees, are affected by movements in exchange rates between Sri Lankan Rupees and operational currencies of overseas subsidiaries. Carson Cumberbatch PLC uses the average of exchange rates prevailing during the period to translate the results and cash flows of overseas Group subsidiaries and associates into Sri Lankan Rupees, and period end rates to translate the net assets of those undertakings. The currencies which most influence these translations, and the relevant exchange rates, are: Year Nine months Six months First Quarter Year ended ended ended ended ended Rs. Rs. Rs. Rs. Rs. Average rates: Malaysian Ringgit US Dollar Indonesian Rupiah (Rp) Indian Rupee Period-end rates: Malaysian Ringgit US Dollar Indonesian Rupiah (Rp) Indian Rupee

15 NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS 5 Biological assets Biological valuation of Indonesian plantations The fair value of biological assets was determined by KJPP Rengganis, Hamid & Partners an Indonesian independent valuer. The valuations of the biological assets ere perfor ed i a orda e ith I ter atio al Valuatio Sta dards a d I do esia aluatio sta dards Sta dard Pe ilaia I do esia /SPI usi g dis ou ted cash flows of the underlying biological assets. The expected cash flows from the whole life cycle of the oil palm plantations are determined using the market price and the estimated yield of FFB, net of maintenance and harvesting costs and any costs required to bring the oil palm plantations to maturity. The estimated yield of the oil palm plantations is dependent on the age of the oil palm trees, the location of the plantations, soil type and infrastructure. The market price of the FFB is largely dependent on the prevailing market prices of crude palm oil and palm kernel. Point-of-sale costs include all costs that would be necessary to sell the assets. The following table shows the key unobservable inputs used in valuation models. Key unobservable inputs Oil palm trees have an average life of 22 (31st March 2015: 22) years, with the first three years as immature and remaining years as mature Inter relationship between key unobservable inputs and fair value measurement The estimated fair value increases as the estimated average life increases. No new planting or replanting activities are assumed Discount rate per annum of Indonesian plantation 13.55% (31st March %) and Malaysian Plantation 8.71% (31st March %) FFB selling price Indonesian Plantation of US$ 97 to US$ 102 (31st March 2015: US$ US$ 121) per metric tonne FFB selling price Malaysian Plantation of US$ 118 (31st March 2015: US$ 137) per metric tonne Yield per hectare of Indonesian Plantation of 6.62 MT to 26.1MT (31st March MT to MT) and Malaysian Plantations 4 MT to 37 MT (31st March MT to 29 MT) The estimated fair value decreases with replanting activities. The estimated fair value increases as the estimated discount rate per annum decreases. The estimated fair value increases as the estimated selling price of FFB increases. The estimated fair value increases as the average yield per hectare increases. 6 Foreign Exchange gain/(losses) The foreign exchange loss relates to the assets, liabilities, income and expenses of the Goodhope Asia Holdings limited and its subsidiaries whose certain transactions and balances are recorded in different currencies other than reporting currency of each such subsidiary. For the year ended 31st March 2016, the Goodhope Asia Holding Limited group recorded a foreign exchange loss of US$ 2.77 Mn. This includes realized exchange loss of US$ 0.14 Mn and unrealized exchange loss of US$ 2.63 Mn. The unrealized exchange loss mainly arose from the translation of foreign currency denominated long term borrowings as at the balance sheet date consequent to a significant depreciation of the Indonesian rupiah (IDR) against the US dollar (USD) during the first nine months period but recovered during the last 3 months ended31st March The closing exchange rate of IDR against USD as at 31st March, 2016 was IDR 13,276 which is a 1.5% depreciation compared to the closing exchange rate that prevailed as at 31 March, Non-current assets held for sale and discontinued operations of Selinsing PLC and Good Hope PLC Results of the discontinued operations (Malaysian Plantation Sector) included in the profit for the year are set out below. The comparative profit and cash flows from discontinued operations have been represented to include those operations classified as discontinued in the current year Profit for the year from discontinued operations Rs. '000 Rs. '000 Revenue 338, ,964 Other income and gains 28, , ,414 Direct operating costs (113,434) (122,374) Gain arising from change in fair value of Biological Assets 1,476 4,164 Administrative expenses (55,237) (55,378) Exchange loss (3,057) (297) Net Finance Income Profit/(loss) before tax from discontinued operations 196, ,885 Attributable income tax expense (40,426) (54,677) Profit for the year from discontinued operations 156, ,

16 NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS 7.2 The Major classes of assets and liabilities of Plantation Sector classified as held for sale as at 31 March are as follows: Rs. '000 Rs. '000 Assets Property, plant and equipment 2,900,070 - Biological Assets 594,428 - Finacial Assets held for trading 3,494,498 - Deferred tax liability (145,760) - Retirement benefit obligations (2,786) - Liabilities directly associated with assets held for sale (148,546) - Net assets directly associated with disposal -Group 3,345, The shareholder approval was obtained for the sale of the plantation estates of Good Hope PLC and Selinsing PLC at the Extraordinary General Meeti g held o 6th May 6 hi h is su je t to o ditio s su h as rele a t appro als fro regulatory odies i Malaysia a d appro al from the Central Bank of Sri Lanka within stipulated timelines. 8 Dividend Per Share Total dividend Dividend per ordinary share (Rs 000) (Rs 000) Rs Rs On Ordinary shares Final for , , First interim for , , , Intangible assets Goodwill Customer Trade Total as at Total as at Relationship Mark 31st March 31st March Cost Balance at beginning of period 2,681, ,882 4,000,000 7,247,865 3,247,865 Acquisition/ addition through business combinations ,000,000 2,681, ,882 4,000,000 7,247,865 7,247,865 Impairment losses Balance at beginning of period - 212, , ,618 Amortization 101, , ,959 56, , , , ,206 2,580, ,193 4,000,000 6,774,700 7,035,659 Impairment loss recognised in respect of goodwill and customer relationship allocated to Arani Agro Oil Industries Private Limited (AAOIL) for the financial year ended 31st March 2016 was Rs 260 mn as the recoverable amount of the goodwill allocated was less than its carrying value. The above impairment loss has been recognised based on the de isio take y the a age e t to s ale do AAOIL s operatio s i additio to the egati e et urre t assets a d egati e et asset positio reported as at st March

17 NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS 10 RELATED PARTY TRANSACTIONS Group Company 11 Stated Capital For the Year ended 31st March Transactions with related parties Subsidiaries Dividend income received , ,520 Interest income received Guarantee Income Support service fees 19,800 12,000 Secretarial fees paid Computer fees paid Capitalisation of Loans (54,275) Outstanding balances Amount due from related Companies , ,948 Joint Ventures Secretarial fees received As at 31st March (Rs 000) (Rs 000) Issued and Fully Paid Ordinary Shares 196,386,914 Ordinary shares 1,114,652 1,114, Super gain tax 1,114,652 1,114,652 As per the provisions of Part III of the Finance Act, No. 10 of 2015 which was certified on 30 October 2015, the Company and Group's was liabile for Super Gain tax of Rs. 1.4 Million and Rs 511 Million respectively. According to the Act, the super gain tax shall be deemed to be an expenditure in the financial statements relating to the year of assessment which commenced on 1 April The Act supersedes the requirements of the Sri Lanka Accounting Standards, hence the expense of Super gain tax is accounted in accordance with the requirements of the said Act as recommended by the Statement of Alternative Treatment (SoAT) on Accounting for Super Gain Tax issued by the Institute of Chartered Accountants of Sri Lanka, dated 24 November There were no liabilities for management fees or any other similar expenditure not provided for in the interim financial statements. 14 Investment properties Vauxhall Lane property owned by the Equity one PLC carrying a land extent of perches in the books historically contained a 27 perches for road allocation. It was determined during the year that this road allocation did not carry soil rights for the Equity One but only carried right of way which is shared with a third party property. Accordingly the valuation assigned to this road allocation was removed from the valuations. 15 Net assets per share has been calculated for all periods, based on the number of Ordinary shares in issue as at 31st March Contingent Liabilities There were no changes of material nature in the contingent liabilities since the last annual balance sheet date. 17 Capital Commitments There were no changes of material nature in the capital commitments since the last annual balance sheet date. 18 Events Occurring After the Balance Sheet Date De-Listing of Equity One PLC On 2nd November 2015 the Board of Directors of Equity One PLC announced its decision to de-list the shares of the company from the official list of the Colombo Stock Exchange (CSE), subject to obtaining shareholder and regulatory approval, in light of the minimum public float rules stipulated by the Securities & Exchange Commission (SEC). Accordingly, the special resolution to de-list the shares of Equity One PLC from the official list of the Colombo Stock Exchange was passed at the Extraordinary General Meeting of the Company, held on the 30th of November 2015, with more than 75% of the shareholders present at the meeting voting in favour of the said resolution. Upon obtaining shareholder approval, an application for de-listing was made to the Securities & Exchange Commission of Sri Lanka on the 11th of December 2015 for approval of the same and having had many correspondence, the Company is awaiting a final decision from SEC as of 12th May No material events took place since March 31st, 2016 that require disclosure in these Financial Statements other than above. 16

18 NOTES TO THE INTERIM CONDENSED FINANCIAL STATEMENTS Interim Financial Statements 19 Directors Shareholding as at 31st March 2016 No of Shares Mr. Tilak de Zoysa - Mr. H. Selvanathan 76,852 Mr. M. Selvanathan 1,805,146 Mr. I. Paulraj 129 Mr. D.C.R.Gunawardena - Mr. S.K. Shah - Mr. P.C.P. Tissera 12 Mr. V. P. Malalasekera Mr. F. Mohideen - Mr. R. Theagarajah - Mr. W. M. R. S. Dias - M/s.M. Selvanathan & H. Selvanathan 449,820 Alternate Directors Mr. K. Selvanathan (for M. Selvanathan) - 20 Twenty Major Shareholders - Ordinary Shares As at Name of Shareholder No. of Shares % 1 Bukit Darah PLC A/C No 2 89,706, Tower Investments (Pvt) Ltd 20,927, Fulcrum (Private) Limited 19,231, Portelet Limited 14,747, Newgreens Limited 14,747, Employees Provident Fund 5,602, Mr. V. Nataraj 2,781, Mrs. V. Nataraj 2,781, Natwest Nominees ( Pvt) Limited. 2,598, Wardley Investments ( Pvt ) Limited 2,532, Goodhope Holdings (Pvt) Limited. 2,167, Mr. M. Selvanathan 1,805, Ceylon Finance and Securities (Private) Ltd 1,606, Skan Investments (Pvt) Limited. 1,462, GF Capital Global Limited 1,432, Mrs. M.N.C. Pellizzari 939, Mr. S. Selvanathan 703, Pershing LLC s/a Averbach Grauson & Co. 672, Interkrish Investment Company (Pvt)Limited. 454, Mr. M. Selvanathan & Mr. H. Selvanathan 449, Public Holding Ordinary shares of the Company held by Public as at 31st March 2016 were as follows; Number of Public shareholders 2,045. Percentage of public holding 14.41%. 17

19 NOTES TO THE INTERIM CONDENSED FINANCIAL STATEMENTS Interim Financial Statements 22 Investor Information Year Fourth Third Second First Year ended quarter quarter quarter quarter ended As at Market Performance -Ordinary Shares Market value per share (Rs.) Highest price per share (Rs.) Lowest price per share (Rs.) Share Trading Value of shares traded (Rs. Mn) Number of shares traded 527, ,123 23, ,296 47, ,995 Number of trades ,550 Other Information Market Capitalization (Rs. Mn) 53,024 53,024 67,950 77,573 78,967 71,956 Enterprise Value (Rs. Mn) 158, , , , , ,316 18

20 Corporate Information Related Party Transactions Review Committee Name of the Company (Formed w.e.f 1st January 2016) Carson Cumberbatch PLC Mr. V.P. Malalasekera (Chairman) Company Registration No. Non- Executive/Independent Director PQ 41 Mr. F. Mohideen Legal Form Non- Executive/Independent Director A Public Quoted Company with limited liability. Incorporated in Sri Lanka in Mr. D. C.R. Gunawardena Non- Executive Director BOARD OF DIRECTORS Mr. Tilak de Zoysa (Chairman) Mr. H. Selvanathan Mr. H. Selvanathan (Deputy Chairman) Executive Director Mr. M. Selvanathan Mr. I. Paulraj Mr. M. Selvanathan Mr. D. C. R. Gunawardena Executive Director Mr. S.K. Shah Mr. P.C.P. Tissera Mr. S.K. Shah Mr. V.P. Malalasekera Executive Director Mr. F. Mohideen Mr. R. Theagarajah Bankers Mr. W. M. R. S. Dias Standard Chartered Bank Bank of Ceylon Alternate Director Citibank NA Mr. K. Selvanathan (for M. Selvanathan) Commercial Bank of Ceylon PLC HSBC Sampath Bank PLC Audit Committee Hatton National Bank PLC Mr. V.P. Malalasekera (Chairman) Nations Trust Bank PLC Non- Executive/Independent Director Deutsche Bank Public Bank Berhad Mr. D. C.R. Gunawardena Pan Asia Banking Corporation PLC Non- Executive Director Auditors Mr. F. Mohideen Messrs KPMG Non- Executive/Independent Director Chartered Accountants No. 32A, Remuneration Committee Sir Mohamed Macan Markar Mawatha, Mr. I.Paulraj (Chairman) Colombo 3 Non- Executive Director Sri Lanka Tel: Mr. D. C.R. Gunawardena Fax: Non- Executive Director Secretaries Mr. R. Theagarajah Carsons Management Services (Pvt) Ltd. Non- Executive/Independent Director No. 61, Janadhipathi Mawatha, Colombo 1 Mr. W. M. R. S. Dias Sri Lanka Non- Executive/Independent Director Tel: Fax: Mr. Tilak de Zoysa Non- Executive/Independent Director Registered Office No. 61, Nomination Committee Janadhipathi Mawatha, Mr. T. de Zoysa (Chairman) Colombo 1 Non- Executive/Independent Director Sri Lanka Tel: Mr. D. C.R. Gunawardena Fax: Non- Executive Director Mr. R. Theagarajah carsons@carcumb.com Non- Executive/Independent Director Corporate Website