ABC Motors Company Limited

Transcription

1 DEM Handbook 2009

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3 Contents Pages ABC Motors Company Limited 5 The Anglo-Mauritius Assurance Society Limited 8 Alma Investments Company Limited 11 Associated Commercial Company Ltd 13 The Black River Investments Company Limited 15 Bychemex Limited 17 Chemco Ltd 19 CIEL Investments Ltd 21 CIEL Textile Ltd 24 Compagnie Immobilière Limitée 27 Constance La Gaieté Company Limited 29 Constance Hotels Services Limited 32 Compagnie des Villages de Vacances de l Isle de France Limitée 35 Deep River-Beau Champ Limited 38 Deep River Investment Limited 41 ENL Investment Limited 43 ENL Limited 45 Excelsior United Development Companies Limited 48 Forges Tardieu Limited 51 Flacq United Estates Limited 54 Forward Investment and Development Enterprises Limited 57 Hotelest Limited 59 Knowledge Economies Limited 62 Livestock Feed Limited 64 Les Gaz Industriels Limited 67 Les Moulins de la Concode Limitée 70 Margarine Industries Limited 73

4 Pages Mauritius Cosmetics Limited 76 The Medical and Surgical Centre Ltd 79 Mauritius Secondary Industries Ltd 82 Mauritius Freeport Development Company Ltd 84 The Medine Sugar Estates Company Limited 86 The Medine Shares Holding Company Limited 89 Morning Light Co Ltd 91 Paper Converting Company Limited 94 Phoenix Investment Company Limited 97 Quality Beverages Limited 100 Robert Le Maire Limited 103 Rose-Hill Transport Limited 106 SIT Land Holdings Ltd 109 Soap & Allied Industries Limited 112 Southern Cross Tourist Co. Ltd 115 Tropical Paradise Co. Ltd 117 Union Flacq Ltd 120 The Union Sugar Estates Company Limited 123 United Bus Service Ltd 126 United Investments Limited 128 Vital Water Bottling Co Ltd 130

5 ABC Motors Company Limited Sem Code : ABC.I0000 Classification : Commerce Registered Office : ABC Centre, Military Road, Port Louis Board of Directors : AH CHUEN Raymond (Chairman) AH CHUEN Donald (Chief Executive Officer) AH CHUEN Vincent AH CHUEN Marc AH CHUEN Dean (Executive Director) CHU John TIN KIONG FONG France Company Secretary : ABC Professional & Secretarial Services Ltd Principal Activities : Dealer in Motor Vehicles and Spare Parts Automotive Workshop Agency for Import and Export of Motor Vehicles and Accessories Summary information ABC Motors Co. Ltd is the exclusive distributor of Nissan Motors Co. Ltd and Nissan Diesel vehicles in Mauritius, comprising passenger and light commercial vehicles, pick-ups and trucks. Since its establishment in 1985, ABC Motors Co Ltd has ranked among the top sales performers in the vehicles market and has received numerous awards on its sales performance, after sales service and spare parts facilities, winning the Nissan President s Award on several occasions and the Nissan Global Award in 2005 and In 2008, ABC Motors was again the No 1 company, both as a Brand Leader and in terms of overall market share of motor vehicles sold in Mauritius during the year. The Company has been the market leader for the past 13 consecutive years. ABC Motors employs over 600 people and is a member company of the DEM (Development Enterprise Market) of the Stock Exchange of Mauritius and a member of the Mauritius Chamber of Commerce and Industry. It is strongly supported by its principals in terms of staff training and development, with regular visits and workshops by their specialists from Japan and South Africa. The Company has a very active staff welfare committee and contributes generously in the charitable, health promotion and other social welfare activities and projects of various voluntary social organizations. 5

6 ABC Motors Company Limited Balance Sheet (Rs) 30 Jun ASSETS Non-currents assets Property and equipment 103,076,836 97,207,939 Intangible assets 2,368,754 1,908,120 Investments in subsidiary Investments in associates 107,320, ,400,885 Available-for-sale investments 13,211,426 10,553,677 Deferred tax asset 255,681 63, ,233, ,133,985 Current assets Stock 149,055, ,036,418 Trade and other receivables 211,062, ,068,596 Cash at bank and in hand 8,878,551 2,743, ,996, ,848,496 Total assets 595,229, ,982,481 EQUITY AND LIABILITIES Capital and reserves Stated capital 61,756,800 61,756,800 Share premium 147, ,300 Retained earnings 213,698, ,230,807 Investment revaluation reserve 2,219,349 1,086,600 Equity attribuable to equity holders of the parent 277,822, ,221,507 Minority interest 7,504,428 6,583,100 Total Equity 285,326, ,804,607 LIABILITIES Non-current liabilities Loans 28,910,450 45,500,000 Obligation under fomamce lease 14,184,525 10,610,932 Retirement benefit obligation 10,604,545 9,582,180 53,699,520 65,693,112 Current liabilities Bank overdrafts 63,493,021 52,181,935 Trade and other payables 53,783,351 43,083,254 Bills payable 80,276, ,970,629 Amount due to subsidiary Loans 41,589,550 33,500,000 Obligation under finance lease 5,446,478 3,810,055 Taxation 11,614,377 6,938, ,203, ,484,762 TOTAL EQUITY AND LIABILITIES 595,229, ,982,481 6

7 ABC Motors Company Limited Income Statement (Rs) 30 Jun Revenue 1,170,080, ,498,126 Profit from operations 106,989,902 62,470,711 Share of profits less losses of associates 8,419,099 14,866,967 Net finance costs 26,022,463 31,331,292 Profit before taxation 89,386,538 46,006,386 Taxation 12,460,320 7,108,368 Profit for the year 76,926,218 38,898,018 Equity holders of the parent 76,604,890 38,625,557 Minority interest 321, ,461 76,926,218 38,898,018 STATISTICS Number of ordinary shares used in calculation 6,175,680 6,175,680 Earnings per share (Rs) Dividends per share (Rs) Net asset value per share (Rs)

8 The Anglo-Mauritius Assurance Society Limited Sem Code : ANGM.I0000 Classification : Banks, Insurance & Other Finance Registered Office : Swan Group Centre, Intendance Street, Port-Louis DIRECTORS Non-Executive : M.E. Cyril MAYER, B. Com., CA (SA) - Chairperson M.J. Cyril LAGESSE L.J. Jérôme de CHASTEAUNEUF, B.Sc. Economics (LSE), A.C.A. (UK) Pierre DOGER DE SPÉVILLE George John DUMBELL, A.C.I.B. (UK) Eric ESPITALIER-NOËL, B. Soc. Sc. (SA), M.B.A. (UK) Henri HAREL, A.C.I.S. Thierry LAGESSE, M.B.A. (France) M.F.I. Jean Hugues MAIGROT Independent Non-Executive : Pierre Dinan, GOSK, B.Sc. Economics (LSE), FCA (ENGLAND) Peroomal Gopallen MOOROOGEN, F.C.C.A., M.B.A. (Wales) Victor SEEYAVE, M.B.A. (USA), B.A. Economics (UK) Executive : Louis RIVALLAND, B.Sc. (Hons.) (SA), F.I.A. (UK), F.A.S. (SA) - Group Chief Executive Secretary : Swan Group Corporate Services Limited (per Jean Paul Chasteau de Balyon) Principal Activities : Life assurance, pensions, actuarial and investment business Corporate Profile The Anglo-Mauritius Assurance Society Limited, one of the market leaders in the life assurance, pensions, actuarial and investment business in Mauritius, has developed over the years a full range of insurance products and services to serve the needs of corporate and individual clients either directly or through its sales representatives network. Swan Insurance Company Limited is the major shareholder of The Anglo-Mauritius Assurance Society Limited. Assets under the management of The Anglo-Mauritius amounted to Rs.16.1 billion and the Life Assurance Fund stood at Rs.15.7 billion at 31st December The Company s investment portfolio consists of local and foreign equities, local and foreign deposits, fixed income securities, properties and secured loans. Investments are made in key sectors of activity namely tourism, real estate, sugar, trade and financial services in Mauritius and in the region. The Company caters for the insurance requirements of its clients in the region. The Company participates actively in the socio-economic development of the country by granting loans for the construction or purchase of residential and business properties. Residential loans granted to policyholders amounted to Rs.1.9 billion and loans on business properties totalled Rs.412 million at 31st December Benefits paid to policyholders, beneficiaries and annuitants amounted to Rs million at 31st December Market capitalisation of the Company on the Mauritian Stock Exchange at 31st December 2008 was Rs.500 million. 8

9 The Anglo-Mauritius Assurance Society Limited Balance Sheet (Rs 000) 31 Dec ASSETS Non-currents assets Property and equipment 150, ,753 Investment property 402, ,117 Intangible assets 24,738 25,085 Investments in subsidiary companies - - Investments in associated company 35,323 54,171 Financial assets 8,746,049 10,513,461 Loans and receivables 2,252,940 2,264,670 Statutory Deposit ,612,236 13,413,257 Current assets Trade and other receivables 149, ,814 Financial assets 2,020,756 1,565,981 Loans and receivables 277, ,708 Short term deposits 1,848,701 2,403,888 Cash in hand and at bank 140,802 34,304 4,437,882 4,385,695 Total assets 16,050,118 17,798,952 EQUITY AND LIABILITIES Capital and reserves (attributable to equity holders of the parent company) Share Capital 25,000 25,000 Proprietors Fund 103, Equity holders interest 128,206 25,295 Minority interest 16,466 11,014 Total Equity 144,672 36,309 Technical Provisions Life insurance fund 15,701,377 17,607,922 Gross outstanding claims 21,286 18,098 15,722,663 17,626,020 Non-current liabilities Borrowings Deferred tax liabilities 240 1,317 Retirement benefit obligations 68,981 63,178 69,221 64,495 Current liabilities Borrowings Trade and other payables 105,413 65,490 Current tax liabilities 8,149 6, ,562 72,128 TOTAL EQUITY AND LIABILITIES 16,050,118 17,798,952 9

10 The Anglo-Mauritius Assurance Society Limited Life Insurance Fund (Rs 000) 31 Dec Gross Premiums 1,621,609 1,470,620 Ceded to Reinsurers (74,862) (77,893) Net insurance premiums 1,546,747 1,392,727 Consideration for annuities 225, ,557 Fee income on insurance and investment contracts 98,044 63,398 Investment income 1,050, ,031 Other income 172, ,101 Gain on exchange 185,374 - Other operating income - rent 26,815 21,390 Share of results of associated company 4,982 24,667 3,310,887 3,111,871 Gross death and disablement insurance claims 72,821 71,752 Recoverable from reinsurers (11,073) (14,255) Net death and disablement insurance claims 61,748 57,497 Maturity claims 693, ,302 Surrenders 585, ,915 Annuities 187, ,880 Commissions payable to agents and brokers 50,310 44,993 Fees payable 62,401 50,327 Depreciation of property and equipment 8,511 10,922 Depreciation of investment property 6,949 6,589 Amortisation of intangible assets 647 1,006 Computer development expenses 3,862 3,930 Bad debts 2,276 2,457 Marketing and administrative expenses 130, ,828 Loss on exchange - 226,322 1,793,595 1,690,968 Surplus for the year before taxation 1,517,292 1,420,903 Taxation (4,737) (3,058) Surplus for the year 1,512,555 1,417,845 Surplus transferred as follows: - Life assurance fund 1,375,645 1,407,007 - Proprietors fund 133, Minority interest 3,228 10,837 STATISTICS Number of ordinary shares used in calculation 2,500,000 2,500,000 Earnings per share (Rs) Dividends per share (Rs)

11 Alma Investments Company Limited SEM Code : ALMA.I0000 Classification : Investment Registered Office : 11th Floor, Medine Mews, 4 Chaussée Street, Port Louis Board of Directors : Pierre Doger de Spéville Chairman : Rajkumar Gujadhur : Arnaud Leclézio : René Leclézio Company Secretary : Patricia Goder Senior Executive : Daniel Giraud Group Chief Executive Principal Activities : Investment holding SUMMARY INFORMATION Alma Investments Company Limited was incorporated in Its main activity consists of the holding of investments. Its key investment is namely the holding of 50.10% of the issued share capital of The Black River Investments Company Limited which owns 26.27% and 27.41% of the issued share capital of The Medine Sugar Estates Company Limited and Excelsior United Development Companies Limited respectively. 11

12 Alma Investments Company Limited Balance Sheet (Rs) 30 Jun ASSETS Non-currents assets Investments in subsidiary - - Investments in associates 2,867,492,129 2,851,052,178 Investment in securities 322,231, ,309,414 3,189,723,998 3,119,361,592 Current assets Trade and other receivables 5,445,227 19,106,564 Cash at bank 1,624,241 4,769,339 7,069,468 23,875,903 Total assets 3,196,793,466 3,143,237,495 EQUITY AND LIABILITIES Capital and reserves Share Capital 73,312,960 73,312,960 Share premium 5,156,480 5,156,480 Fair value and other reserves 1,455,528,199 1,388,702,209 Retained earnings 217,987, ,409,360 Equity holders interests 1,751,985,572 1,684,581,009 Minority interests 1,443,318,181 1,440,439,021 Total equity 3,195,303,753 3,125,020,030 LIABILITIES Current liabilities Trade and other payables 1,470,749 1,480,063 Current tax liabilities 18,964 37,220 Dividends to minority shareholders - 8,269,192 Dividends - 8,430,990 Total liabilities 1,489,713 18,217,465 TOTAL EQUITY AND LIABILITY 3,196,793,466 3,143,237,495 Income Statement (Rs) 30 Jun Dividend income 8,926,430 6,921,633 Share of result in associates 32,129, ,948,731 Other income 584, ,127 41,639, ,104,491 Administrative expenses (1,846,724) (1,492,884) 39,792, ,611,607 Finance costs - (8,548) Profit before taxation 39,792, ,603,059 Income tax (18,964) (37,220) Profit for the year 39,773, ,565,839 Attributable to: Equity holders of the company 23,751, ,005,049 Minority interests 16,022, ,560,790 Profit for the year 39,773, ,565,839 STATISTICS Number of ordinary shares used in calculation 7,331,296 7,331,296 Earnings per share (Rs) Dividends per share (Rs) Net asset value per share (Rs)

13 Associated Commercial Company Ltd Sem Code : ACC.I0000 Classification : Commerce Registered Office : 14, Leoville l Homme Street, Port Louis Board of Directors : Swaleh Ramjane FCIS MCIT Chairman Abdool Aleem Bundhoo Vice Chairman M.Yacoob Ramtoola FCA M Shadman Elias Haji Adam ACCA Massood Ayoob Ramtoola Company Secretary : M. Yacoob Ramtoola Principal Activities : Dealer in mechanical spare parts/ tyres Sale of Heavy vehicles Summary Information Established in 1964, Associated Commercial Co Ltd is specialized in the sale of spare parts, new tyres and vehicles. It is the authorized distributors of Tata Motors, Eicher Motors, Vikrant and JK Tyres. 13

14 Associated Commercial Company Ltd Balance Sheet (Rs) 30 Jun ASSETS Non-currents assets Property,plant and equipment 8,745,496 9,480,051 Investments in securities 43,520,231 41,785,539 Investments in associates 37,999,169 28,619,674 90,264,896 79,885,264 Current assets Stocks and goods in transit 69,084,596 62,725,036 Trade and other receivables 15,176,193 72,726,343 Cash at bank and in hand 280, ,539 84,541, ,582,918 Total assets 174,806, ,468,182 EQUITY AND LIABILITIES Capital and reserves Stated capital 20,514,196 20,514,196 Investment in revaluation reserve 56,041,143 47,229,347 Profit and loss account 42,888,348 35,155,641 Shareholders interest 119,443, ,899,184 Non-current liabilities Retirement benefit obligations 2,838,035 3,898,000 Deferred tax liabilities 409, ,571 3,247,257 4,469,571 Current liabilities Bank overdraft(secured) 18,596,136 25,269,415 Loan 20,500,000 32,468,900 Trade and other payables 11,728,094 49,175,288 Taxation 1,291,339 1,185,824 52,115, ,099,427 Total equity and liabilities 174,806, ,468,182 Income Statement (Rs) 30 Jun Turnover Normal 124,102, ,087,565 Tender - 135,506, ,102, ,593,565 Profit from operations 10,237,167 6,781,349 Other income 2,352,690 2,403,365 12,589,857 9,184,714 Share of associates results 2,283,266 2,928,976 Finance costs (3,168,105) (3,320,287) Profit before taxation 11,705,018 8,793,403 Taxation (1,114,906) (1,006,793) Profit after taxation 10,590,112 7,786,610 STATISTICS Number of ordinary shares used in calculation 1,142,962 1,142,962 Earnings per share (Rs) Dividends per share (Rs) Net asset value per share (Rs)

15 The Black River Investments Company Limited Sem Code : BRI.I0000 Classification : Investment Registered Office : 11th Floor, Medine Mews, 4 Chaussée Street, Port Louis Board of Directors : Pierre Doger de Spéville Chairman Rajkumar Gujadhur Arnaud Leclézio René Leclézio Company Secretary : Patricia Goder Senior Executive : Daniel Giraud Chief Executive Principal Activities : Investment holding SUMMARY INFORMATION The Black River Investments Company Limited was incorporated in 1947 and is a subsidiary of Alma Investments Company Limited. Its main activity consists of the holding of investments. Its key investments are namely the holding of 26.27% and 27.41% of the share capital of The Medine Sugar Estates Company Limited and Excelsior United Development Companies Limited respectively. 15

16 The Black River Investments Company Limited Balance Sheet (Rs) 30 Jun ASSETS Non-currents assets Investments in associates 2,864,737,507 2,848,273,786 Investments in securities 27,664,995 35,607,074 2,892,402,502 2,883,880,860 Current assets Trade and other receivables 94,048 16,932,969 Cash at bank 512, , ,305 17,304,623 Total assets 2,893,008,807 2,901,185,483 EQUITY AND LIABILITIES Capital and reserves Share capital 5,500,000 5,500,000 Share premium 63,950,000 63,950,000 Fair value and other reserves 2,258,563,543 2,246,218,539 Retained earnings 564,144, ,093,265 Equity holders interests 2,892,157,756 2,883,761,804 Current liabilities Other payables 850, ,743 Current tax liabilities ,936 Proposed dividends - 16,555, ,051 17,423,679 Total equity and liabilities 2,893,008,807 2,901,185,483 Income Statement (Rs) 30 Jun Turnover Dividend income 709, ,726 Share of profit of associates 32,124, ,964,991 Other income 4,603 53,566 Gross income 32,838, ,965,283 Administrative expenses (765,790) (589,508) Profit before finance cost 32,072, ,375,775 Finance cost - (697) Profit before taxation 32,072, ,375,078 Income tax (680) (11,936) Net profit for the year 32,072, ,363,142 STATISTICS Number of ordinary shares used in calculation 550, ,000 Earnings per share (Rs) Dividends per share (Rs) Net asset value per share (Rs) 5, ,

17 Bychemex Limited Sem Code : BYCH.I0000 Classification : Industry Registered Office : Chaussée Tromelin, Fort George, Port-Louis Board of Directors : HAREL Antoine L. - Chairman LEUNG SHING Georges NG KWING KING E. Harold MONTOCCHIO M.J. François RIVALLAND L. J. Michel G.O.S.K. Company Secretary : HM Secretaries Ltd. Principal Activities : Manufacturer of specialty chemicals for textile industry SUMMARY INFORMATION Established in 1987, Bychemex Limited is a major supplier of basic and auxiliary chemicals to the textile industry. With consistent technical support and frequent visits of our principals, the Company endeavours to offer advice to its clients to improve their processes, thus adding value to our specialty products. 17

18 Bychemex Limited Balance Sheet (Rs) 31 Dec ASSETS Non-currents assets Property, plant and equipment 7,799,149 8,135,836 Investment in securities 200,000-7,999,149 8,135,836 Current assets Inventories 5,825,585 5,285,920 Trade and other receivables 16,554,871 18,414,423 Receivable from other companies 8,957,713 10,505,047 Cash and cash equivalents 7,991,300 2,693,379 39,329,469 36,898,769 Total assets 47,328,618 45,034,605 EQUITY AND LIABILITIES Capital and reserves Share capital 5,000,000 5,000,000 Retained earnings 24,093,531 22,708,366 Shareholders interest 29,093,531 27,708,366 LIABILITIES Non-current liabilities Deferred tax liabilities 586, ,132 Current liabilities Trade and other payables 11,092,971 11,205,107 Payable to related companies 683,846 - Current tax liabilites 872, ,000 Dividends 5,000,000 5,000,000 17,648,981 16,705,107 Total liabilities 18,235,087 17,326,239 TOTAL EQUITY AND LIABILITIES 47,328,618 45,034,605 Income Statement (Rs) 31 Dec Sales 71,971,286 75,782,477 Cost of sales (54,670,655) (59,887,808) Gross profit 17,300,631 15,894,669 Other income 1,039, ,050 Operating expenses (13,740,641) (11,716,704) 4,599,312 5,103,015 Net finance income 2,622,991 1,585,919 Profit before taxation 7,222,303 6,688,934 Income tax expense (837,138) (566,979) Profit for the year 6,385,165 6,121,955 STATISTICS Number of ordinary shares used in calculation 5,000,000 5,000,000 Earnings per share (Rs) Dividends per share (Rs) Net asset value per share (Rs)

19 Chemco Ltd Sem Code : CHEM.I0000 Classification : Commerce Registered Office : Chaussée Tromelin, Fort Georges, Port-Louis Board of Directors : Antoine L. Harel Georges Leung Shing M. J. François Montocchio E. Harold Ng Kwing King L. J. Michel Rivalland G.O.S.K. Company Secretary : HM Secretaries Ltd. Principal Activities : Chemicals Commerce SUMMARY INFORMATION Established in 1984, Chemco Limited is a supplier of basic and specialty chemicals, agro-chemicals and specific general goods. The Company has also developed and enhanced its services and market share in supplying sugar processing chemicals to the major sugar mills which have recently undertaken projects to refine sugar locally. In addition it provides raw materials for paint industry, for detergent industry, chemicals and services for cooling water treatment and effluent water treatment, while also doing business in refrigerants, fertilizers, laboratory services, swimming pool chemicals, equipment and services, air conditioners, plastic resins, tyres and pesticides. 19

20 Chemco Ltd Balance Sheet (Rs) 31 Dec ASSETS Non-currents assets Plant and equipment 8,939,547 7,938,403 Investment in subsidiary companies - - Investment in financial assets 31,496 32,512 8,971,043 7,970,915 Current assets Inventories 56,924,381 46,545,698 Trade and other receivables 70,872,233 74,144,912 Receivable from related companies 7,778, ,518 Cash and cash equivalents 5,279,681 5,998, ,854, ,484,092 Total assets 149,825, ,455,007 EQUITY AND LIABILITIES Capital and reserves Share capital 6,208,722 6,208,722 Share premium 5,518,864 5,518,864 Other reserves 8,066 89,034 Retained earnings 34,153,809 24,013,886 Shareholders interests 45,889,461 35,830,506 LIABILITIES Non-current liabilities Deferred tax liabilities 448, ,088 Current liabilities Trade and other payables 15,857,331 23,351,762 Payables to related companies 20,915,894 16,867,313 Current tax liabilities 4,721, ,386 Borrowings 53,921,482 51,945,230 Dividend 8,071,339 6,208, ,487,291 99,299,413 Total liabilities 103,936,251 99,624,501 TOTAL EQUITY AND LIABILITIES 149,825, ,455,007 Income Statement (Rs) 31 Dec Sales 330,464, ,819,155 Cost of sales (259,052,259) (258,211,111) Gross profit 71,411,836 54,608,044 Other income 4,513,140 2,405,300 Operating expenses (50,517,092) (40,292,149) 25,407,884 16,721,195 Finance costs (2,500,553) (7,836,166) Profit before taxation 22,907,331 8,885,029 Income tax expense (4,696,069) (646,550) Profit for the year 18,211,262 8,238,479 STATISTICS Number of ordinary shares used in calculation 6,208,722 6,208,722 Earnings per share (Rs) Dividends per share (Rs) Net asset value per share (Rs)

21 CIEL Investments Ltd Sem Code : CIEL.I0000 Classification : Investment Registered Office : 5th Floor, Ebene Skies, Rue de l Institut, Ebene Board of Directors : G. Christian DALAIS (Chairman) Jan BOULLE P. Arnaud DALAIS Jean Pierre DALAIS Pierre DANON Arnaud LAGESSE J. Cyril LAGESSE Didier MERVEN Iqbal RAJAHBALEE Neermal SADDUL Company Secretary : Ciel Corporate Services Ltd Principal Activities : Investment Holding Company SUMMARY INFORMATION Ciel Investment Limited (CIL) is a public company incorporated on December 5, 1977, and quoted on the Development and Enterprise Market. CIL is an investment company holding interests in a number of companies operating in various sectors of the Mauritian economy, the main ones being involved in tourism, property and commerce. CIL is committed to the highest standard of business integrity, transparency and professionalism in all its activities to ensure that the activities within the company and group are managed ethically and responsibly to enhance business value for all stakeholders. 21

22 CIEL Investments Ltd Balance Sheet (Rs000) 31 Mars ASSETS Non-currents assets Property,plant and equipment 524, ,681 Investment properties 718, ,836 Intangible assets 60,246 92,404 Investments in Joint ventures 745, ,709 Investments in associates 3,199,114 2,985,018 Others 187, ,336 Deposit on investments 300, ,181 Non-current receivables 8,529 18,162 Retirement benefit obligations 4,914 5,430 5,749,277 5,231,757 Current assets Inventories Trade and other receivables 148, ,444 Cash and cash equivalents 41, , , ,966 Total assets 5,939,219 5,849,723 EQUITY AND LIABILITIES Capital and reserves Share Capital 2,174,237 2,174,237 Retained earnings 2,808,152 2,412,055 Revaluation, fair value and other reserves 550, ,826 Equity holder s interests 5,532,486 5,406,118 Minority interests 2,803 2,141 Total equity 5,535,289 5,408,259 LIABILITIES Non-current liabilities Deferred tax liabilities 14,470 14,388 Borrowings 198,945 59,594 Retirement benefit obligations 1, ,750 74,641 Current liabilities Borrowings 7,822 10,876 Trade and other payables 167, ,714 Current tax liabilities 13,833 14,892 Proposed dividents - 84, , ,823 Total liabilities 403, ,464 TOTAL EQUITY AND LIABILITY 5,939,219 5,849,723 22

23 CIEL Investments Ltd Income Statement (Rs000) 31 Mar Revenue 291, ,019 Expenditure Management, administrative and general expenses 202, ,181 Depreciation 6,230 6, , ,323 Profit before finance costs 83, ,696 Finance costs (13,216) (14,945) Profit before exceptional items 70,142 98,751 Exceptional items (37,539) 15,473 Share of result of joint ventures (4,927) (8,737) Share of result of associates 276, ,550 Profit before taxation 304, ,037 Income tax (11,664) (11,071) Profit for the year 292, ,966 Equity holders of the Company 291, ,235 Minority interest 913 (269) Profit for the year 292, ,966 STATISTICS Number of ordinary shares used in calculation 1,204,873 1,124,664 Earnings per share (Rs) Dividends per share (Rs) 0.08* 0.10 Net asset value per share (Rs) *Note:.05 cents declared on 14 April 2009 is for year end 31 March

24 CIEL Textile Ltd Sem Code : FKL.I0000 Classification : Others Registered Office : 5th Floor, Ebene Skies, Rue de l Institut, Ebene Board of Directors : P. Arnaud DALAIS (Chairman) G. Christian DALAIS Henri DE PITRAY Arnaud LAGESSE J. Cyril LAGESSE Harold MAYER Didier MERVEN Alain REY Eddy YEUNG KAN CHING Jérôme DE CHASTEAUNEUF (alternate to P. Arnaud DALAIS) Company Secretary : Ciel Corporate Services Ltd Principal Activities : Investment Holding Company SUMMARY INFORMATION Ciel Textile Limited (CTL) is a public company incorporated on January 19, 1971, and is quoted on the Development and Enterprise Market. The principal activity of CTL is that of an investment holding company with interests in a number of companies involved in textile activities. The Board of Directors of CTL has the overall responsibility of ensuring that the company complies with the standards of good corporate governance. It approves risk strategy and policies and delegates their formulation, implementation and monitoring to committees of the Board, auditors and senior management. 24

25 CIEL Textile Ltd Balance Sheet (Rs000) 30 Jun ASSETS Non-currents assets Plant and equipment 2,052,245 2,036,375 Intangible assets 4,362 1,707 Leasehold land payments 11,080 13,049 Investments in: Associates 45,999 39,847 Others 9,185 9,185 55,184 49,032 Non-currents receivables 8,573 7,262 Deferred tax assets 68,804 67,485 2,200,248 2,174,910 Current assets Inventories 1,771,520 1,581,563 Trade and other receivables 1,831,438 1,881,794 Cash in hand and at bank 212, ,558 3,815,502 3,628,915 Total assets 6,015,750 5,803,825 EQUITY AND LIABILITIES Capital and reserves Share capital 685, ,865 Revaluation and other reserves 492, ,838 Retained earnings 990, ,183 2,168,472 2,135,886 Minority interests 106,857 78,531 Redeemable preference share capital 448, ,937 Total equity 2,724,266 2,663,354 LIABILITIES Non-current liabilities Borrowings 104, ,540 Deferred tax liabilities 98, ,184 Retirement benefit obligations 14,317 43,995 Other financial liability 85, , , ,836 Current liabilities Trade and other payables 1,887,481 1,706,226 Borrowings 1,093, ,891 Current tax liabilities 6,091 20,515 Dividends payable on preference shares 2,200 4,003 2,989,258 2,512,635 Total liabilities 3,291,484 3,140,471 TOTAL EQUITY AND LIABILITIES 6,015,750 5,803,825 25

26 CIEL Textile Ltd INCOME STATEMENT (Rs 000) 30 Jun Turnover 6,523,232 6,545,145 Profit before depreciation and amortisation 422, ,484 Depreciation and amortisation (211,016) (213,836) Operating profit 211, ,648 Net finance (costs)/income (111,200) (105,443) Share of profit of associates 10,062 14,620 Profit before exceptional items 110, ,825 Exceptional items 19,296 (12,362) Profit before taxation 129, ,463 Taxation (2,678) (4,257) Profit for the year 126, ,206 Equity holders of the parent 114, ,445 Minority interests 12,314 12,761 Profit for the year 126, ,206 STATISTICS Number of ordinary shares used in calculation 101,807, ,807,589 Earnings per share (Rs) Dividends per share (Rs) Net asset value per share (Rs)

27 Compagnie Immobilière Limitée Sem Code : CIMO.I0000 Classification : Commerce Registered Office : 6, Sir William Newton Street, Port Louis Board of Directors Chairman : Mr. Bashirally A Currimjee G.O.S.K Executive Director : Mr. Anil C Currimjee Non-Executive Directors : Mr. Carrim A Currimjee G.O.S.K. Mr. Mazahir F E Adamjee Mr. Ashraf M Currimjee Mr. Azim F Currimjee Mr. Raffi Currrimjee Independent Non-Executive Directors : Me. Anwar Moollan Me. Yusuf Hassam Aboo Baker S.C. Company Secretary : Currimjee Limited Principal Activities : Renting of Property SUMMARY INFORMATION Compagnie Immobilière Limitée (CIL) was incorporated on 06 December 1950 as a public company and was admitted to the Development Enterprise Market of the Stock Exchange of Mauritius in August 2006 in replacement of the Over The Counter Market. The main business of CIL is to rent properties at the arcades Currimjee in Curepipe. Following the enactment of the Landlord and Tenant (Amendment) Act 2005, the company is in the process of aligning its rentals with the market rates and this will further strengthen its appeal as a shopping destination. 27

28 Compagnie Immobilière Limitée Balance Sheet (Rs) 31 Dec ASSETS Non-currents assets Property,plant and equipment 1,996,567 2,669,205 Intagible assets 140,828 Investment Property 196,949, ,717, ,086, ,387,154 Current assets Trade and other receivables 6,230,568 3,706,891 Cash in hand and at bank 57,461 21,759 6,288,029 3,728,650 Total assets 205,374, ,115,804 EQUITY AND LIABILITIES Capital and reserves Stated capital 2,664,000 2,664,000 Share premium 36,007,074 36,007,074 Investment property revaluation reserve 108,003, ,003,873 Retained earnings 51,094,936 47,169,932 Total equity 197,769, ,844,879 LIABILITIES Non-current liabilities Borrowings 658,614 2,467,606 Retirement benefit obligations 256, ,000 Deferred tax liabilities 33,431 26, ,045 2,744,387 Current liabilities Bank overdraft 1,191, ,415 Borrowings 1,787,207 2,177,619 Trade and other payables 2,906,343 2,868,883 Taxation 771, ,621 6,656,873 6,526,538 TOTAL EQUITY AND LIABILITIES 205,374, ,115,804 Income Statement (Rs) 31 Dec Revenue 15,812,006 10,247,652 Other Income 10,462 4,786 Adminitrative Expenses (8,638,694) (6,009,301) Finance Costs (515,304) (624,942) Profit for the year before taxation 6,668,470 3,618,195 Taxation (1,145,066) (513,447) Profit for the year 5,523,404 3,104,748 STATISTICS Number of ordinary shares used in calculation 266, ,400 Earnings per share (Rs) Dividends per share (Rs) Net asset value per share (Rs)

29 Constance La Gaieté Company Limited Sem Code : CSE.I0000 Classification : Sugar Registered Office : 5th Floor, Labama House, 35 Sir William Newton Street, Port-Louis Board of Directors : Mr George Dumbell - Chairperson Mr Adolphe Vallet Mr Clément Rey Mrs Georgina Rogers Mr Jean Juppin De Fondaumière Mr Louis Rivalland Mr Jean Ribet Mr Clément Labauve D Arifat Rey Mr Arnaud Dalais Mr Jean Jacques Vallet Mr Noel Adolphe Vallet Company Secretary : La Gaiété Services Ltd Principal Activities : Sugar and other agro-industrial activities SUMMARY INFORMATION Founded in 1882 Constance La Gaiété Company Limited produces some 155,000 tons of sugar cane on 2,200 hectares on the eastern part of Mauritius. Its milling activities were centralized on Deep River Beau Champ Milling Co Ltd in It is also involved in other agro industrial activities and real estates projects. 29

30 Constance La Gaieté Company Limited Balance Sheet (Rs000) 31 Dec ASSETS Non-currents assets Property,plant and equipment 318, ,032 Investment property 7,455 8,309 Intangible assets 1,471 - Investments in subsidiary companies - - Investments in associated companies 215, ,835 Investments in financial assets 39,853 48,345 Deferred expenditure 53,991 35,785 Bearer biological assets 34,463 31, , ,539 Current assets Consumable biological assets 36,322 61,389 Inventories 9,709 5,392 Trade and other receivables 230, ,861 Bank balances and cash 68,423 1, , ,711 Non-current assets held for sale 19,114 - Total assets 1,035,706 1,021,250 EQUITY AND LIABILITIES Capital and reserves Share Capital 120, ,000 Reserves 191, ,602 Retained earnings 343, ,542 Equity holder s interests 654, ,144 LIABILITIES Non-current liabilities Borrowings 823 1,223 Retirement benefit obligations 75,517 80,011 76,340 81,234 Current liabilities Trade and other payables 296, ,726 Borrowings 8,216 33, , ,872 Total liabilities 381, ,106 TOTAL EQUITY AND LIABILITIES 1,035,706 1,021,250 30

31 Constance La Gaieté Company Limited Income Statement (Rs000) 31 Dec Revenue Sugar, molasses and bagasse 185, ,898 Other operating revenue 105, , , ,654 SIFB compensation 19,605 47, , ,109 Biological assets - bearer 3, consumable (25,067) (10,285) Operating expenses (315,908) (328,213) Operating loss (27,626) (20,167) Other income 37, ,568 9,847 80,401 Finance costs (3,425) (5,042) Profit from ordinary activities 6,422 75,359 VRS costs written off (20,673) (106,148) (14,251) (30,789) Share of profit from associated companies 33,363 19,660 Profit/(loss) before taxation 19,112 (11,129) Taxation 18,206 23,475 Profit/(loss) for the year 37,318 12,346 STATISTICS Number of ordinary shares used in calculation 4,800,000 4,800,000 Earnings per share (Rs) Dividends per share (Rs) Net asset value per share (Rs)

32 Constance Hotels Services Limited Sem Code : CHSL.I0000 Classification : Leisure & Hotels Registered Office : 5th Floor, Labama House, 35 Sir William Newton Street, Port-Louis Board of Directors : Mr George Dumbell - Chairperson Mr Adolphe Vallet Mr Jean Pierre Dalais Mr. Jerôme De Chasteauneuf Mr. Cyril Lagesse Mr Louis Rivalland Mr Clément Rey Mr Stéphane Leal Mr Patrice Binet-Decamps Mr Jean Lartigue Ribet Mr Clément Labauve D Arifat Rey Mr Iqbal Mallam-Hasham Mr Noel Adolphe Vallet Company Secretary : La Gaiété Services Ltd Principal Activities : Owner and manager of hotels SUMMARY INFORMATION Constance Hotels Services Limited was incorporated on 15 May In addition to the hotels it owns in Mauritius, namely Constance Belle Mare Plage and Constance Le Prince Maurice, the Company has equity participation and management contracts in respect of hotels in the Seychelles, Madagascar and Maldives. 32

33 Constance Hotels Services Limited The Group Balance Sheet (Rs000) 31 Dec ASSETS Non-currents assets Property, plant and equipment 2,215,709 2,166,041 Intangible assets 366,344 63,826 Investments in subsidiary companies - - Investments in associated companies 847, ,811 Investments in financial assets 1, Retirement benefit obligations 1, Loans to related companies 103,894 - Deferred tax assets 20,560 53,391 3,556,865 2,877,969 Current assets Inventories 116,480 90,178 Trade and other receivables 450, ,795 Cash and cash equivalents 47,127 82, , ,763 Total assets 4,171,188 3,444,732 EQUITY AND LIABILITIES Capital and reserves Stated capital 936, ,783 Other reserves 191, ,507 Retained earnings 1,083, ,165 Equity holders interest 2,211,996 2,078,455 Minority interest 2,480 3,362 Total equity 2,214,476 2,081,817 Non-current liabilities Borrowings 467, ,825 Deferred tax liabilities 31,846 25,612 Retirement benefit obligations 14,848 14, , ,068 Current liabilities Trade and other payables 270, ,573 Borrowings 1,137, ,228 Current tax liabilities 2,575 9,082 Proposed dividend 31,982 63,964 1,442, ,847 Total liabilities 1,956,712 1,362,915 Total equity and liabilities 4,171,188 3,444,732 33

34 Constance Hotels Services Limited Income Statement (Rs000) 31 Dec Revenue 1,577,450 1,750,750 Operating profit 311, ,404 Finance costs (142,451) (128,569) Share of results of associates 53,302 70,565 Profit before taxation 221, ,400 Income tax expense (53,288) (39,414) Profit for the year 168, ,986 Minority interest (10,451) (10,062) Profit attributable to equity holders 158, ,924 STATISTICS Number of ordinary shares used in calculation 63,964 63,964 Earnings per share (Rs) Dividends per share (Rs) Net asset value per share (Rs)

35 Compagnie des Villages de Vacances de l Isle de France Limitée Sem Code : COVI.I0000 Classification : Others Registered Office : C/o Club Méditerranée, Pointe aux Canonniers Board of Directors : Sophie Barrault Colette Brochen Marie Jeanne Li Ying Pin Florence Legall Anne Dominique Gobert Saliha Abdou Sunil Kumar Koosul Jerôme Guillouet Company Secretary : Financial Consulting Associates Ltd Principal Activities : Renting of hotel establishment SUMMARY INFORMATION Since the formation of COVIFRA in 1972, the company has rented its investment properties, plant and equipment to Holiday Villages Management Services (Mauritius) Limited ( HVMS ) which operates the Club Med Hotel at La Pointe aux Canonniers. 35

36 Compagnie des Villages de Vacances de l Isle de France Limitée Balance Sheet (Rs) 31 Oct ASSETS Non-currents assets Investment Properties 1,745,500,000 1,360,847,024 Equipment 161,292,416 29,134,302 1,906,792,416 1,389,981,326 Current assets Trade and other receivables 211,686, ,526,907 Cash in hand and at bank 66,238,783 67,447, ,925, ,974,662 Total assets 2,184,717,908 1,588,955,988 EQUITY AND LIABILITIES Capital and reserves Share capital 566,100, ,100,000 Retained profits 143,542, ,504,739 Total equity 709,642, ,604,739 LIABILITIES Non-current liabilities Loan 26,464,899 28,481,789 Other payables 408, ,392 Deferred tax 86,480,636 91,305, ,353, ,195,312 Current liabilities Loan 5,149,893 5,149,893 Loan from holding company 1,059,962,800 - Amount due to fellow subsidiary 4,388,929 83,434,607 Amount due to holding company 277,230, ,907,000 Other payables 14,988,993 1,664,437 1,361,721, ,155,937 Total liabilities 1,475,075, ,351,249 TOTAL EQUITY AND LIABILITIES 2,184,717,908 1,588,955,988 36

37 Compagnie des Villages de Vacances de l Isle de France Limitée Income Statement (Rs) 31 Oct Income Rental income 133,588,922 59,535,385 Interest income 3,168,279 2,217,226 Other income 422,238 - Gain on revaluation of investment properties - 239,184, ,179, ,936,979 Expenses Amount written off investment properties - 26,047,245 Loss on disposal of property, plant and equipment - 6,207,480 Loss on revaluation of investment properties 167,975,116 - Depreciation 18,787,710 8,511,031 Interest expense 77,451,572 3,944,295 General expenses 1,485, ,919 Exchange loss 33,175,553 2,164,043 Auditors remuneration - audit fees 75,000 75,000 - other fees 15,000 15, ,965,792 47,798,013 (Loss)/Profit before taxation (161,786,353) 253,138,966 Taxation 4,824,495 (70,735,589) (Loss)/Profit for the year (156,961,858) 182,403,377 STATISTICS Number of ordinary shares used in calculation 56,610,000 56,610,000 Earnings per share (Rs) (2.77) 3.22 Dividends per share (Rs) - - Net asset value per share (Rs)

38 Deep River-Beau Champ Limited Sem Code : DRBC.I0000 Classification : Sugar Registered Office : 5th Floor, Ebene Skies, Rue de l Institut, Ebene Board of Directors : G. Christian DALAIS (Chairman) P. Arnaud DALAIS Maurice DALAIS Bernard DALAIS Jean DE FONDAUMIERE Louis GUIMBEAU Jean Claude HAREL Arnaud LAGESSE J. Cyril LAGESSE Thierry LAGESSE Robert LAGESSE Didier MERVEN Adolphe VALLET Company Secretary : Ciel Corporate Services Ltd Principal Activities : Sugar cane growing and other agricultural activities. SUMMARY INFORMATION Deep River-Beau Champ Limited (DRBC) is a public company incorporated on April 18, 1913, and quoted on the Development and Enterprise Market. DRBC is engaged in sugar cane growing and other agricultural activities. The group operates two sugar milling factories, a bagasse and coal based power generation plant and holds a portfolio of investments. DRBC is also involved in property development and management. DRBC is committed to the highest standard of business integrity, transparency and professionalism in all its activities to ensure that the activities within the Company and Group are managed ethically and responsibly to enhance business value for all stakeholders. 38

39 Deep River-Beau Champ Limited Balance Sheet (Rs000) 30 Jun ASSETS EMPLOYED Non-currents assets Property, plant and equipment 4,089,333 3,576,091 Land-projects 11,484 13,300 Investment property 1,073 1,099 Intangible assets - 1,039 Investment in subsidiary companies - - Investment in associated companies 277, ,616 Investment in joint ventures 250, ,205 Investment in securities 69,660 78,783 Deposit on investment 90,924 - Bearer biological assets 171, ,730 Non-current receivables 176,183 53,608 Deferred expenditure 836, ,622 Deferred tax assets 34,531 37,554 6,008,698 5,232,647 Current assets Deferred expenditure 49,606 35,894 Inventories 202, ,917 Consumable biological assets 1,101,506 1,251,504 Trade and other receivables 324, ,511 Current tax assets 24,501 26,802 Short term deposits - - Cash in hand and at bank 67,466 93,256 1,770,091 2,289,884 Total assets 7,778,789 7,522,531 EQUITY AND LIABILITIES Capital and reserves Share capital 93,600 93,600 Revaluation and other reserves 1,084,183 1,146,695 Retained earnings 1,959,901 1,688,111 Shareholders interests 3,137,684 2,928,406 Loans 217, ,107 Minority interests 906, ,752 4,262,138 4,000,265 Non-current liabilities Borrowings 761, ,574 Deferred tax liabilities 394, ,106 Retirement benefit obligations 117, ,589 1,273,495 1,449,269 Current liabilities Trade and other payables 434, ,527 Current tax liabilities 25,498 29,536 Borrowings 1,740,157 1,403,878 Proposed dividend 43,056 43,056 2,243,156 2,072,997 Total equity and liabilities 7,778,789 7,522,531 39

40 Deep River-Beau Champ Limited Income Statement (Rs000) 30 Jun Turnover 3,253,477 2,581,633 SIFB compensation 97,263 60,991 (Losses)/gains arising from changes in fair value of biological assets (77,040) 279,565 Other operating income 118,311 72,323 3,392,011 2,994,512 Operating expenses (2,920,047) (2,375,982) Operating profit 471, ,530 VRS amortisation and other expenses (7,051) (19,709) Investment and other income 5,072 7,851 Finance costs (229,126) (146,945) Profit before exceptional items 240, ,727 Exceptional items 40,684 - Profit after exceptional items 281, ,727 Share of results of joint ventures 79,992 (20,038) Share of results of associates 84,412 76,309 Profit before taxation 445, ,998 Income tax charge (56,616) (96,490) Net profit after taxation 389, ,508 Minority interests (52,021) (117,601) Profit attributable to equity holders of the company 337, ,907 STATISTICS Number of ordinary shares used in calculation Earnings per share (Rs) Dividends per share (Rs) Net asset value per share (Rs)

41 Deep River Investment Limited Sem Code : DRIL.I0002 Classification : Investment Registered Office : 5 th Floor, Ebene Skies, Rue de l Institut, Ebene Board of Directors : G. Christian DALAIS (Chairman) P. Arnaud DALAIS Jean Pierre DALAIS Bernard DALAIS Maurice DALAIS Louis GUIMBEAU Guy HUGNIN Didier MERVEN Jean-Michel PITOT Dominique ROUSSET Company Secretary : Ciel Corporate Services Ltd Principal Activities : Investment Holding Company SUMMARY INFORMATION Deep River Investment Limited (DRI) is a public company incorporated on August 31, 1948, and is quoted on the Development and Enterprise Market. The principal activity of DRI is that of an investment holding company with interests in a number of companies involved in various activities of the Mauritian economy. DRI is committed to the highest standard of business integrity, transparency and professionalism in all its activities to ensure that the activities within the company and group are managed ethically and responsibly to enhance business value for all stakeholders. 41

42 Deep River Investment Limited Balance Sheet (Rs) 30 Jun ASSETS Non-currents assets Investments in associates 3,177,299,971 2,960,974,443 Current assets Trade and other receivables 15,822,731 15,622,731 Investments in securities 341, ,975 16,164,456 15,941,706 Total assets 3,193,464,427 2,976,916,149 EQUITY AND LIABILITIES Capital and reserves Share capital 8,226,650 8,226,650 Fair value reserves 208, ,345 Other associates reserves 1,167,836,639 1,308,077,397 Retained earnings 1,930,749,927 1,644,800,586 Shareholders interest 3,107,021,311 2,961,289,978 Current liabilities Trade and other payables 6,228,902 62,343 Current tax liabilities 27,179 44,792 Borrowings 46,786, ,467 Proposed dividends 33,400,199 15,301,569 86,443,116 15,626,171 Total equity and liabilities 3,193,464,427 2,976,916,149 Income Statement (Rs) 30 Jun Share of results of associates net of tax 274,631, ,969,954 Dividend and other income 215, ,900 Total revenue 274,846, ,184,854 Administrative expenses (263,056) (126,319) Other operating expenses (615,908) (152,028) Finance costs (6,188,734) (2,554) Profit before taxation 267,778, ,903,953 Income tax (27,179) (44,792) Net profit 267,751, ,859,161 STATISTICS Number of ordinary shares used in calculation 822, ,665 Earnings per share (Rs) Dividends per share (Rs) Net asset value per share (Rs)

43 ENL Investment Limited Sem Code : ENIT.I0000 Classification : Investment Registered Office : 7th Floor, Swan Group Centre, Intendance Street, Port Louis Board of Directors : Guy Rivalland (Chairman) Hector Espitalier-Noël Eric Espitalier-Noël Gilbert Espitalier-Noël M P Roger Espitalier-Noël Company Secretary : ENL Limited Principal Activities : Investment Company SUMMARY INFORMATION ENL Investment is one of the largest publicly traded companies in Mauritius, dealing in shares and securities, a large number of which are quoted on the Stock Exchange of Mauritius. It holds a very attractive investment portfolio that covers all key sectors of the local economy. ENL Investment owns and manages sizeable shareholdings in some of the major groups of companies in Mauritius such as New Mauritius Hotels, MADCO/ Food and Allied and Rogers in addition to smaller stakes in a number of local companies. The Food & Allied Group figures among the leading companies in Mauritius. It is a diversified agro-industrial group and also the promoter of the Labourdonnais Waterfront Hotel, a high-end business hotel situated in the Caudan Waterfront complex and The Suffren Hotel & Marina. The Rogers Group, the largest conglomerate in Mauritius, owns and manages over 150 subsidiaries and associated companies in the tourism, aviation, logistics, and financial services sectors. ENL Investment also has interests in New Mauritius Hotels, promoter of the Beachcomber group of hotels. Beachcomber opened its first hotel in 1952 and has ever since played a significant role in the development of quality tourism. The group owns and operates some of the most prestigious beach hotels, located on the most stunning sites of the Mauritian coastline as well as in Seychelles. 43

44 ENL Investment Limited Balance Sheet (Rs000) 30 Jun ASSETS Non-currents assets Availiable-for-sale securities: Investments in associates 3,473,655 1,746,562 Investments in financial assets 1,861,184 1,546,150 5,334,839 3,292,712 Current assets Trade and other receivables 3, Held-for-trading securities 33,953 33,440 Receivable from group companies 89,671 29,289 Cash and cash equivalents 1,466 5, ,736 68,954 Total assets 5,463,575 3,361,666 EQUITY AND LIABILITIES Capital and reserves Share Capital 967, ,608 Other reserves 2,785,605 1,887,277 Application monies 645,376 - Retained earnings 768, ,531 Shareholders interests 5,167,338 3,317,416 LIABILITIES Non-current liabilities Borrowings 39,916 3,500 Current liabilities Trade and other payables 1,618 2,955 Payable to group companies 207,475 4,014 Current tax liabilities Current borrowings 17,308 3,500 Proposed dividends 29,402 29, ,321 40,750 Total liabilities 296,237 44,250 TOTAL EQUITY AND LIABILITIES 5,463,575 3,361,666 Income Statement (Rs000) 30 Jun Dividends receivable 57,871 48,764 Interest receivable 4,584 8,025 62,455 56,789 Administrative expenses 6,312 3,129 Management fees 24,906 19,514 31,218 22,643 31,237 34,146 Fair value adjustments ,470 Finance costs (4,583) (9,293) Share of profit of associates 212, ,716 Profit before exceptional items 239, ,039 Exceptional items 165,210 - Profit before income tax 404, ,039 Income tax expense (518) (879) Profit for the year 404, ,160 STATISTICS Number of ordinary shares used in calculation 73,504,000 73,504,000 Earnings per share (Rs) Dividends per share (Rs) Net asset value per share (Rs)