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8/7/2019 Aitken Spence Plc Ar 2009 10
1/190
fast forward!
2009 was a hugely significant year in local
history - as, for the first time in over thirty years,
the nation was empowered to grasp the opportunities
we have sought for so long. Since 1868, the Aitken Spence
Group has been an icon of leadership and solid value to
every Sri Lankan corporate, at every level. And today we
are ready to fast forward into the many challenges that
lie ahead.
Creating value shall remain our guiding principle
as a bluechip corporate that is also an engine
of growth, joining all Sri Lankans to drive
national development fast forward,
across the island.
ServicesStrategic InvestmentsCargo LogisticsTourism
8/7/2019 Aitken Spence Plc Ar 2009 10
2/190
Services
Sector
Given its strategicgeographical position inSouth Asia, Sri Lanka ispoised to become aservice hub in the region.Aitken Spence has takenadvantage of thispositioning to realise ourvision of expandingregionally to drive ourmultifaceted Companyforward as a respectedindustry leader. TheServices sector
encompasses the Groupsinterests in financialservices, insurance, theoperation andmaintenance of powerplants and real estatedevelopment. We arealso the agents for theworld renownedinternational elevator
agency OTIS.
StrategicInvestmentsSector
A successful
conglomerate isreinforced by astuteinvestments andstrategic partnerships.The Groups diversifiedinterests in identifiedgrowth sectors such aspower generation,plantations and garmentmanufacture, lie within
its strategic investmentssector. These diverseinvestments have provedto be significantinitiatives, with vigorousactivity and returnsensuring our sustainedgrowth within keysectors of the economy.
CargoLogisticsSector
Aitken Spence has playeda significant role in
maritime trade inSri Lanka and has beenin the business of linershiping agencies formany years. Ourintegrated offering ofair-sea freightforwarding,warehousing,distribution, courier andtransport provides a
total, seamless solutionto the importers and theexporters. The sector hasthe distinction of beingthe first Sri Lankanentity to venture intoport efficiencyenhancement operationsoverseas.
Tourism
Sector
Aitken Spence is aleading player in travel
and tourism, owningand managing a chainof luxury hotels andresorts in Sri Lanka, theMaldives, India andOman. Three decades ofexperience in hotels givesus an expert edge indesigning, building andmanaging properties.
Our travel sector coversthe full spectrum oftravel related activitiesfrom inbound tooutbound travel and isthe general sales agentfor some of the mostprestigious internationalairlines.
8/7/2019 Aitken Spence Plc Ar 2009 10
3/190
fast forward!
2009 was a hugely significant year in local
history - as, for the first time in over thirty years,
the nation was empowered to grasp the opportunities
we have sought for so long. Since 1868, the Aitken Spence
Group has been an icon of leadership and solid value to
every Sri Lankan corporate, at every level. And today we
are ready to fast forward into the many challenges that
lie ahead.
Creating value shall remain our guiding principle
as a bluechip corporate that is also an engine
of growth, joining all Sri Lankans to drive
national development fast forward,
across the island.
ServicesStrategic InvestmentsCargo LogisticsTourism
8/7/2019 Aitken Spence Plc Ar 2009 10
4/190
Services
Sector
Given its strategicgeographical position inSouth Asia, Sri Lanka ispoised to become aservice hub in the region.Aitken Spence has takenadvantage of thispositioning to realise ourvision of expandingregionally to drive ourmultifaceted Companyforward as a respectedindustry leader. TheServices sector
encompasses the Groupsinterests in financialservices, insurance, theoperation andmaintenance of powerplants and real estatedevelopment. We arealso the agents for theworld renownedinternational elevator
agency OTIS.
StrategicInvestmentsSector
A successful
conglomerate isreinforced by astuteinvestments andstrategic partnerships.The Groups diversifiedinterests in identifiedgrowth sectors such aspower generation,plantations and garmentmanufacture, lie within
its strategic investmentssector. These diverseinvestments have provedto be significantinitiatives, with vigorousactivity and returnsensuring our sustainedgrowth within keysectors of the economy.
CargoLogisticsSector
Aitken Spence has playeda significant role in
maritime trade inSri Lanka and has beenin the business of linershiping agencies formany years. Ourintegrated offering ofair-sea freightforwarding,warehousing,distribution, courier andtransport provides a
total, seamless solutionto the importers and theexporters. The sector hasthe distinction of beingthe first Sri Lankanentity to venture intoport efficiencyenhancement operationsoverseas.
8/7/2019 Aitken Spence Plc Ar 2009 10
5/190
fast forward!
2009 was a hugely significant year in local
history - as, for the first time in over thirty years,
the nation was empowered to grasp the opportunities
we have sought for so long. Since 1868, the Aitken Spence
Group has been an icon of leadership and solid value to
every Sri Lankan corporate, at every level. And today we
are ready to fast forward into the many challenges that
lie ahead.
Creating value shall remain our guiding principle
as a bluechip corporate that is also an engine
of growth, joining all Sri Lankans to drive
national development fast forward,
across the island.
ServicesStrategic InvestmentsCargo Logistics
8/7/2019 Aitken Spence Plc Ar 2009 10
6/190
StrategicInvestmentsSector
A successful
conglomerate isreinforced by astuteinvestments andstrategic partnerships.The Groups diversifiedinterests in identifiedgrowth sectors such aspower generation,plantations and garmentmanufacture, lie within
its strategic investmentssector. These diverseinvestments have provedto be significantinitiatives, with vigorousactivity and returnsensuring our sustainedgrowth within keysectors of the economy.
8/7/2019 Aitken Spence Plc Ar 2009 10
7/190
fast forward!
2009 was a hugely significant year in local
history - as, for the first time in over thirty years,
the nation was empowered to grasp the opportunities
we have sought for so long. Since 1868, the Aitken Spence
Group has been an icon of leadership and solid value to
every Sri Lankan corporate, at every level. And today we
are ready to fast forward into the many challenges that
lie ahead.
Creating value shall remain our guiding principle
as a bluechip corporate that is also an engine
of growth, joining all Sri Lankans to drive
national development fast forward,
across the island.
ServicesStrategic Investments
8/7/2019 Aitken Spence Plc Ar 2009 10
8/190
Services
Sector
Given its strategicgeographical position inSouth Asia, Sri Lanka ispoised to become aservice hub in the region.Aitken Spence has takenadvantage of thispositioning to realise ourvision of expandingregionally to drive ourmultifaceted Companyforward as a respectedindustry leader. TheServices sector
encompasses the Groupsinterests in financialservices, insurance, theoperation andmaintenance of powerplants and real estatedevelopment. We arealso the agents for theworld renownedinternational elevator
agency OTIS.
8/7/2019 Aitken Spence Plc Ar 2009 10
9/190
fast forward!
2009 was a hugely significant year in local
history - as, for the first time in over thirty years,
the nation was empowered to grasp the opportunities
we have sought for so long. Since 1868, the Aitken Spence
Group has been an icon of leadership and solid value to
every Sri Lankan corporate, at every level. And today we
are ready to fast forward into the many challenges that
lie ahead.
Creating value shall remain our guiding principle
as a bluechip corporate that is also an engine
of growth, joining all Sri Lankans to drive
national development fast forward,
across the island.
Services
8/7/2019 Aitken Spence Plc Ar 2009 10
10/190
8/7/2019 Aitken Spence Plc Ar 2009 10
11/190
Annual Report 2009 - 2010
fast forward!
2009 was a hugely significant year in local
history - as, for the first time in over thirty years,
the nation was empowered to grasp the opportunities
we have sought for so long. Since 1868, the Aitken Spence
Group has been an icon of leadership and solid value to
every Sri Lankan corporate, at every level. And today we
are ready to fast forward into the many challenges that
lie ahead.
Creating value shall remain our guiding principle
as a bluechip corporate that is also an engine
of growth, joining all Sri Lankans to drive
national development fast forward,
across the island.
8/7/2019 Aitken Spence Plc Ar 2009 10
12/190
8/7/2019 Aitken Spence Plc Ar 2009 10
13/190
8/7/2019 Aitken Spence Plc Ar 2009 10
14/190
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15/190
8/7/2019 Aitken Spence Plc Ar 2009 10
16/190
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17/190
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18/190
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19/190
8/7/2019 Aitken Spence Plc Ar 2009 10
20/190
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21/190
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22/190
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23/190
8/7/2019 Aitken Spence Plc Ar 2009 10
24/190
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25/190
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26/190
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27/190
8/7/2019 Aitken Spence Plc Ar 2009 10
28/190
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29/190
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30/190
8/7/2019 Aitken Spence Plc Ar 2009 10
31/190
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32/190
8/7/2019 Aitken Spence Plc Ar 2009 10
33/190
8/7/2019 Aitken Spence Plc Ar 2009 10
34/190
8/7/2019 Aitken Spence Plc Ar 2009 10
35/190
8/7/2019 Aitken Spence Plc Ar 2009 10
36/190
8/7/2019 Aitken Spence Plc Ar 2009 10
37/190
8/7/2019 Aitken Spence Plc Ar 2009 10
38/190
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39/190
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40/190
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Revenuefor the year ended 31st March
0
2,000
4,000
6,000
8,000
10,000
06 07 08 09 10
Profit from Operationsfor the year ended 31st March
0
300
600
900
1,200
1,500
06 07 08 09 10
Tourism Sector
0
2,000
4,000
6,000
8,000
10,000
12,000
Capital Employed
Revenue EBIT
09 10
Rs. Mn Rs. Mn Rs. Mn
8/7/2019 Aitken Spence Plc Ar 2009 10
42/190
8/7/2019 Aitken Spence Plc Ar 2009 10
43/190
8/7/2019 Aitken Spence Plc Ar 2009 10
44/190
8/7/2019 Aitken Spence Plc Ar 2009 10
45/190
8/7/2019 Aitken Spence Plc Ar 2009 10
46/190
8/7/2019 Aitken Spence Plc Ar 2009 10
47/190
8/7/2019 Aitken Spence Plc Ar 2009 10
48/190
8/7/2019 Aitken Spence Plc Ar 2009 10
49/190
Revenuefor the year ended 31st March
0
500
1,000
1,500
2,000
2,500
3,000
3,500
06 07 08 09 10
Profit from Operationsfor the year ended 31st March
0
100
200
300
400
500
600
700
800
06 07 08 09 10
Cargo Logistics Sector
0
500
1,000
1,500
2,000
2,500
3,000
3,500
Capital Employed
Revenue EBIT
09 10
Rs. Mn Rs. Mn Rs. Mn
8/7/2019 Aitken Spence Plc Ar 2009 10
50/190
8/7/2019 Aitken Spence Plc Ar 2009 10
51/190
8/7/2019 Aitken Spence Plc Ar 2009 10
52/190
8/7/2019 Aitken Spence Plc Ar 2009 10
53/190
8/7/2019 Aitken Spence Plc Ar 2009 10
54/190
8/7/2019 Aitken Spence Plc Ar 2009 10
55/190
Revenuefor the year ended 31st March
0
5,000
10,000
15,000
20,000
06 07 08 09 10
Profit from Operationsfor the year ended 31st March
0
500
1,000
1,500
2,000
06 07 08 09 10
Strategic Investments Sector
0
5,000
10,000
15,000
20,000
Capital Employed
Revenue EBIT
09 10
Rs. Mn Rs. Mn Rs. Mn
8/7/2019 Aitken Spence Plc Ar 2009 10
56/190
8/7/2019 Aitken Spence Plc Ar 2009 10
57/190
8/7/2019 Aitken Spence Plc Ar 2009 10
58/190
8/7/2019 Aitken Spence Plc Ar 2009 10
59/190
Revenuefor the year ended 31st March
0
500
1,000
1,500
2,000
06 07 08 09 10
Profit from Operationsfor the year ended 31st March
0
100
200
300
400
500
600
06 07 08 09 10
Services Sector
0
1,000
2,000
3,000
4,000
5,000
09 10
Capital Employed
Revenue EBIT
Rs. Mn Rs. Mn Rs. Mn
8/7/2019 Aitken Spence Plc Ar 2009 10
60/190
8/7/2019 Aitken Spence Plc Ar 2009 10
61/190
8/7/2019 Aitken Spence Plc Ar 2009 10
62/190
8/7/2019 Aitken Spence Plc Ar 2009 10
63/190
8/7/2019 Aitken Spence Plc Ar 2009 10
64/190
8/7/2019 Aitken Spence Plc Ar 2009 10
65/190
8/7/2019 Aitken Spence Plc Ar 2009 10
66/190
8/7/2019 Aitken Spence Plc Ar 2009 10
67/190
8/7/2019 Aitken Spence Plc Ar 2009 10
68/190
8/7/2019 Aitken Spence Plc Ar 2009 10
69/190
8/7/2019 Aitken Spence Plc Ar 2009 10
70/190
8/7/2019 Aitken Spence Plc Ar 2009 10
71/190
8/7/2019 Aitken Spence Plc Ar 2009 10
72/190
Length of Service4%6%
8%
70%
12%
0%
Less than 5
5 to 10
11 to 15
16 to 20
20 to 30
More than 30
Categorywise EmployeeAnalysis
Managerial
Non - Executive
Executive
25%
70%
5%
8/7/2019 Aitken Spence Plc Ar 2009 10
73/190
Employees TrainedCategorywise %
Managerial
Non - ExecutiveExecutive
19%
77%
4%
Types of Training
7%
45%
41%
7%
Organisational Development
Managerial Development
Individual Development
Techinical
Functional Analysis
9%4%
12%
72%
3%
HR & Personnel
Finance & IT
Marketing
Operations
Administration
8/7/2019 Aitken Spence Plc Ar 2009 10
74/190
8/7/2019 Aitken Spence Plc Ar 2009 10
75/190
8/7/2019 Aitken Spence Plc Ar 2009 10
76/190
8/7/2019 Aitken Spence Plc Ar 2009 10
77/190
8/7/2019 Aitken Spence Plc Ar 2009 10
78/190
8/7/2019 Aitken Spence Plc Ar 2009 10
79/190
8/7/2019 Aitken Spence Plc Ar 2009 10
80/190
8/7/2019 Aitken Spence Plc Ar 2009 10
81/190
8/7/2019 Aitken Spence Plc Ar 2009 10
82/190
8/7/2019 Aitken Spence Plc Ar 2009 10
83/190
8/7/2019 Aitken Spence Plc Ar 2009 10
84/190
8/7/2019 Aitken Spence Plc Ar 2009 10
85/190
8/7/2019 Aitken Spence Plc Ar 2009 10
86/190
8/7/2019 Aitken Spence Plc Ar 2009 10
87/190
8/7/2019 Aitken Spence Plc Ar 2009 10
88/190
8/7/2019 Aitken Spence Plc Ar 2009 10
89/190
8/7/2019 Aitken Spence Plc Ar 2009 10
90/190
8/7/2019 Aitken Spence Plc Ar 2009 10
91/190
8/7/2019 Aitken Spence Plc Ar 2009 10
92/190
GDP Growth Rate
6.2%
7.7%
6.8%
6.0%
3.5%
GrowthR
ate%
GDP Growth (%)
05 06 07 08 09
Annual Inflation Rate
11.6%
17.5%
13.7%
22.6%
3.4%
InflationRate%
Inflation Rate (%)
05 06 07 08 09
8/7/2019 Aitken Spence Plc Ar 2009 10
93/190
Annual Exchange Rate
100.50
110.62
103.96
108.33
114.94
05 06 07 08 09
USD/LKR
Annual Exchange Rate
1 Year TB Rate
10.37%
12.96%
19.96%
9.33%
19.12%
05 06 07 08 09
Rate%
TB Rate %
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94/190
All Share Price Index
1922.2
1503.0
2722.4
3385.6
2541.0
05 06 07 08 09
ASPI
All Share Price Index
8/7/2019 Aitken Spence Plc Ar 2009 10
95/190
Revenuefor the year ended 31st March
Rs. Mn
06 07 08 09 100
5,000
10,000
15,000
20,000
25,000
30,000
Profit Before Taxationfor the year ended 31st March
Rs. Mn
06 07 08 09 100
500
1,000
1,500
2,000
2,500
3,000
3,500
Net Profit Attributablefor the year ended 31st March
Rs. Mn
06 07 08 09 100
500
1,000
1,500
2,000
2,500
8/7/2019 Aitken Spence Plc Ar 2009 10
96/190
Cargo Logistics Sector
0
500
1,000
1,500
2,000
2,500
3,000
3,500
Capital Employed
Revenue EBIT
09 10
Rs. Mn
Tourism Sector
0
2,000
4,000
6,000
8,000
10,000
12,000
Capital Employed
Revenue EBIT
09 10
Rs. Mn
8/7/2019 Aitken Spence Plc Ar 2009 10
97/190
Services Sector
0
1,000
2,000
3,000
4,000
5,000
09 10
Capital Employed
Revenue EBIT
Rs. Mn
Strategic Investments Sector
0
5,000
10,000
15,000
20,000
Capital Employed
Revenue EBIT
09 10
Rs. Mn
8/7/2019 Aitken Spence Plc Ar 2009 10
98/190
Geographical Analysis ofProfit Before Taxationfor the year ended 31st March
Rs. Mn
06 07 08 09 100
500
1,000
1,500
2,000
2,500
3,000
3,500
South Asia
Sri Lanka
Assets & Funding
as at 31st MarchRs. Bn
06 07 08 09 100
10
20
30
40
50
60
70
80
Short Term Funding
Long Term Funding
Current Assets & Others
Fixed Assets
8/7/2019 Aitken Spence Plc Ar 2009 10
99/190
8/7/2019 Aitken Spence Plc Ar 2009 10
100/190
Net Working Capital &Current Ratioas at 31st March
Rs. Mn Times
06 07 08 09 100
500
1,000
1,500
2,000
2,500
3,000
0.0
0.4
0.8
1.2
1.6
2.0
Net Working CapitalCurrent Ratio
Short Term &Long Term Interestfor the year ended 31st March
Rs. Mn
06 07 08 09 100
200
400
600
800
1,000
1,200
Interest on Short Term Loans
Interest on Long Term Loans
8/7/2019 Aitken Spence Plc Ar 2009 10
101/190
Earnings Per Sharefor the year ended 31st March
Rs.
06 07 08 09 100
10
20
30
40
50
60
70
80
Market Value Per Shareas at 31st March
Rs.
06 07 08 09 100
300
600
900
1,200
1,500
8/7/2019 Aitken Spence Plc Ar 2009 10
102/190
Dividends Per Sharefor the year ended 31st March
Rs.
06 07 08 09 100
2
4
6
8
10
Price Earnings Ratioas at 31st March
Times
06 07 08 09 100
5
10
15
20
8/7/2019 Aitken Spence Plc Ar 2009 10
103/190
06 07 08 09 100
2,000
4,000
6,000
8,000
10,000
Strategic Investment
Foreign Currency Generationfor the year ended 31st March
Rs. Mn
Tourism Cargo Logistics
Service
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104/190
3%
38%
30%
21%
8%
2009/10Distribution of Wealth Created
To government of Sri Lanka
To employees
To lenders of capital
To Share holders
Retained for reinvestments & future growth
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Share Prices vs Indices 2009/201012 Month TrendIndex Level Share Price - Rs.
Apr-09
May-09
Jun-09
Jul-09
Aug-09
Sep-09
Oct-09
Nov-09
Dec-09
Jan-10
Feb-10
Mar-10
Share PriceMPIASI
1000
2000
3000
4000
5000
300
600
900
1,200
1,500
8/7/2019 Aitken Spence Plc Ar 2009 10
106/190
8/7/2019 Aitken Spence Plc Ar 2009 10
107/190
8/7/2019 Aitken Spence Plc Ar 2009 10
108/190
Share Prices vs Indices10 Year Trend
0
500
1000
1500
2000
2500
3000
3500
4000
4500
01
02
03
04
05
06
07
08
09
10
Index Level Share Price - Rs.
Share PriceMPIASI
0
300
600
900
1,200
1,500
Rs. Mn
06 07 08 09 10
Market Capitalisationas at 31st March
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
Rs.
06 07 08 09 10
Market Value Per Shareas at 31st March
0
300
600
900
1,200
1,500
8/7/2019 Aitken Spence Plc Ar 2009 10
109/190
8/7/2019 Aitken Spence Plc Ar 2009 10
110/190
8/7/2019 Aitken Spence Plc Ar 2009 10
111/190
8/7/2019 Aitken Spence Plc Ar 2009 10
112/190
8/7/2019 Aitken Spence Plc Ar 2009 10
113/190
8/7/2019 Aitken Spence Plc Ar 2009 10
114/190
8/7/2019 Aitken Spence Plc Ar 2009 10
115/190
8/7/2019 Aitken Spence Plc Ar 2009 10
116/190
8/7/2019 Aitken Spence Plc Ar 2009 10
117/190
8/7/2019 Aitken Spence Plc Ar 2009 10
118/190
8/7/2019 Aitken Spence Plc Ar 2009 10
119/190
8/7/2019 Aitken Spence Plc Ar 2009 10
120/190
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121/190
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122/190
8/7/2019 Aitken Spence Plc Ar 2009 10
123/190
8/7/2019 Aitken Spence Plc Ar 2009 10
124/190
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125/190
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126/190
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127/190
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128/190
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129/190
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130/190
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131/190
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132/190
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133/190
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134/190
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135/190
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136/190
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137/190
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138/190
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139/190
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140/190
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141/190
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142/190
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143/190
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144/190
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145/190
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146/190
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147/190
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148/190
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149/190
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150/190
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151/190
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152/190
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153/190
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155/190
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157/190
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158/190
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160/190
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162/190
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164/190
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165/190
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166/190
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167/190
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168/190
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169/190
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170/190
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171/190
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172/190
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Corporate Information
Name
AITKEN SPENCE PLC
Legal Form
A Public quoted Company with limited liability,incorporated in Sri Lanka in 1952
Company Registration NumberPQ 120
Registered Office
No. 305,Vauxhall Street,Colombo 02,Sri Lanka
Directors
D.H.S. Jayawardena
ChairmanJ.M.S. Brito LLB, FCA, MBA
Deputy Chairman and Managing Director
R.M. Fernando Ph.D., MBA, FCIM (UK)
G.M. Perera FAIM
M.P. DissanayakeMBA, Ph.D., Postgraduate.Dip.Marketing FCIM,FICS, FCILT (UK), (GLE) Harvard Business School(appoint w.e.f. 1/09/2009)
G.C. Wickremasinghe
C.H. GomezN.J. de S. Deva Aditya DL, FRSA, MEP
V.M. Fernando Attorney-at-Law
R.N. Asirwatham FCA(appoint w.e. f. 1/09/2009)
Audit Committee
R.N. Asirwatham - Chairman.
G.C. Wickremasinghe
C.H. Gomez
N.J. Deva Aditya
Remuneration Committee
G.C. Wickremasinghe - Chairman.
V.M. Fernando
R.N. Asirwatham
D.H.S. Jayawardena
Nomination CommitteeG.C. Wickremasinghe - Chairman
D.H.S. Jayawardena
J.M.S. Brito
V.M. Fernando
R.N. Asirwatham
Company Secretary
R.E.V. Casie Chetty
FCA, FCMA, M.C.M.I., J. Dip.M.A.
Auditors
KPMG Ford, Rhodes, Thornton & Co.,
Chartered Accountants
Contact Details
No. 305,Vauxhall Street,Colombo 02,Sri Lanka.
Telephone : (94 11) 2308308
Facsimile : (94 11) 2445406
Internet : www.aitkenspence.com
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