EXPOLANKA HOLDINGS PLC
INTEGRATED ANNUAL REPORT 2021/22
SYNERGISED TO SUCCEED
EXPOLANKA HOLDINGS PLC
INTEGRATED ANNUAL REPORT 2021/22
2 | EXPOLANKA HOLDINGS PLC | 1 |
INTEGRATED ANNUAL REPORT 2021/22 |
SYNERGISED TO SUCCEED
In a year that demanded resilience, resistance and adaptability, we looked to leverage on the strengths that we had been afforded in order to solidify our leadership on a global scale. While our stakeholders run the gamut of diversity and may be oceans apart, our dedication to bringing comprehensive products and services, thereby adding value to customer lives, connected us and helped us to reach our growth potential. Driven by our innate need to carry on the story begun more than four decades ago, this year also saw us making significant strides in ensuring that our framework of sustainability is placed front and centre in all that we do.
We're striving to strengthen our unified whole, bringing us ever closer to our aspirations.
We are synergised to succeed.
EXPOLANKA HOLDINGS PLC | 2 |
INTEGRATED ANNUAL REPORT 2021/22 |
CONTENTS
OVERVIEW | INTEGRATED MANAGEMENT | OPERATIONAL |
DISCUSSION AND ANALYSIS | REVIEW | |
About the Report / 4 | Sustainability Strategy / 51 | Organisational Structure / 111 |
Expolanka Holdings PLC Integrated Report / 7 | Stakeholder Engagement / 53 | Sector Report / 112 |
About Us / 8 | Materiality Analysis / 59 | Logistics / 112 |
Highlights of the Year / 9 | Capital Management Reports / 65 | Leisure / 128 |
Group Strategy / 18 | Financial Capital / 65 | Investment / 138 |
Business Model / 22 | Manufactured Capital / 72 | |
Group Milestones / 24 | Intellectual Capital / 73 | |
Geographic Footprint / 26 | Human Capital / 80 | |
Financial Highlights / 27 | Social And Relationship Capital / 93 | |
Board of Directors / 28 | Natural Capital / 101 | |
Senior Management Team / 31 | ||
Chairman's Message / 34 | ||
Group CEO's Review / 38 | ||
Financial Indicators / 44 | ||
Group Performance / 46 |
COMPLIANCE | FINANCIAL | SUPPLEMENTARY |
REPORT | REPORT | INFORMATION |
Corporate Governance / 148 | Annual Report of the Board of Directors on the | Group Real Estate Portfolio / 297 |
Risk Management Report / 171 | Affairs of the Company / 194 | Ten Year Summary / 298 |
Related Party Transactions Review Committee | The Statement of Directors' Responsibility / 200 | Share Information / 302 |
Report / 183 | Audit Committee Report / 201 | Financial Calendar / 306 |
Remuneration Committee Report / 186 | Independent Auditors' Report / 204 | Corporate Information / 307 |
GRI Index / 187 | Statement of Financial Position / 209 | Notice of Meeting / 308 |
Independent Assurance Report / 191 | Statement of Profit or Loss / 211 | Form of Proxy / 309 |
Statement of Comprehensive Income / 212 | Notes / 311 | |
Statement of Changes in Equity / 213 | OVERVIEW | |
Statement of Cash Flows / 215 | ||
Notes to the Financial Statements / 217 |
EXPOLANKA HOLDINGS PLC | 4 |
INTEGRATED ANNUAL REPORT 2021/22 |
ABOUT THE
REPORT
EXPOLANKA HOLDINGS PLC | 5 |
INTEGRATED ANNUAL REPORT 2021/22 |
ABOUT THE
REPORT
GRI 102-10,102-12,102-46,102-48-56 | REPORT SCOPE AND BOUNDARY |
Wherever relevant, we draw comparative data vis-à-
REPORTING METHODOLOGY
Upholding our commitment to responsible reporting, Expolanka Holdings PLC (Expolanka) is pleased to present its 8th integrated annual report themed Synergized to Succeed'. Our report focuses on how we allocate
and leverage on our core capitals to create sustainable value in the short, medium to long-term across our businesses.
Reporting Guidelines and Frameworks
Overall Reporting
""Integrated Reporting Framework, 2021, Integrated Reporting CouncilSustainability Reporting
""Consolidated Set of GRI Sustainability Reporting Standards, 2020, this report has been prepared in accordance with the GRI Standards: "Core option" (GRI content index: refer page 187)
""Most recent integrated report for the year ended 31st March 2021
Following a 12-month reporting cycle, this annual report is published for the financial year 1st April 2021 to 31st March 2022. The report also includes material events up until the Board approval date of 16th June 2022.
This annual report covers the operations at the holding company level and subsidiary companies across three business sectors located across its global operations. This includes the operations of our flagship sector, and logistics along with leisure and investments sectors. The report presents the consolidated results for the Expolanka Group unless otherwise stated. The report does not cover entities that are not operationally controlled by the Group.
vis the trends and results of the preceding financial year, 2020/21. There are no material changes to the scope of the report nor restatements of information provided in the preceding year annual report. There were no significant changes in the organization's size, structure or ownership. The past annual reports for 10 years are available on our website: www.expolanka. com.
TARGETED READERS
Our annual report is primarily targeted to meet the information requirements of our valued shareholders and prospective investors. This report is also prepared to address other stakeholders including our employees, customers, business partners, regulators and members of the communities in which we
The report content is developed on the information and data gathered from management information reports and financial statements of the Expolanka Group. The information is also ascertained through structured discussions with the senior management and relevant teams representing the holding company as well as from the respective sector companies. We also carried out desk research for publicly available information. The accuracy, completeness and relevance of content are verified and validated by the respective sector heads and the Senior Management Team.
FORWARD-LOOKING STATEMENTS
The Annual Report herein contains forward-looking statements and information. However, the reality of the operational backdrop may change our business expectations, future outlook, plans and forecasts. Shareholders and other stakeholders are advised to be cautious on placing too much emphasis on such statements as the reality may materially differ with the projected and anticipated information. The Company does not undertake
to publicly update the forward-looking statements to reflect the changes after the date of this report, except, in compliance with the applicable rules and regulations set by relevant statutory and regulatory bodies.
""UN Global Compact Principles
Financial/Operational
""Company's Act No. 07 of 2007
""International Financial Reporting Standards, IFRS Foundation
""Sri Lanka Accounting Standards (SLFRSs/ LKASs), Institute of Chartered Accountants of Sri Lanka
Corporate Governance
""Code of Best Practice on Corporate Governance 2017 - Institute of Chartered Accountants of Sri Lanka and the Securities and Exchange Commission of Sri Lanka
""Continuous Listing Rules of the Colombo Stock Exchange
Aligned with the integrated reporting principles, this year, we continue to build and refine our reporting process to disclose a balanced account of how we create value to meet our stakeholder expectations. Our report content is developed on the premise of 'materiality' from an economic, environmental, social and governance perspective. Accordingly, we focus on both financial and non-financial results.
The report sets out our business model, highlighting on how we blend in our capitals to create and preserve value. Our strategy in response to risks and opportunities, both at the group level and the sectors, are broadly discussed whilst reporting on the measures we have adopted in risk management and corporate governance. We aim to provide direction of
operate.
COMBINED ASSURANCE
Following best and current practices in reporting, we continue to be steadfast in our efforts to present our information with integrity, credibility, completeness, and conciseness. Internally, the integrated reporting process and content are assured by the internal auditors, senior management, and the Board of Management. Our consolidated financial statements and notes along with sustainability information aligned with GRI Standards are assured by our external auditors-Ernst & Young.
Board Responsibility Statement
The Board of Directors of Expolanka Holdings PLC acknowledges its responsibility to ensure the integrity of this annual report following the Integrated Reporting Framework. The Board assures that the report addresses all material matters significant for the Group's value creation process and presents a balance account of the consolidated performance. This report was approved by the board of directors on 16th June 2022.
Signed for and on behalf of the Board
Feedback
Any queries, clarifications and feedback on this annual report are to be directed to:
Mushtaq Ahamed
Director - Group Finance, Expolanka Holdings PLC
Address: 15A, CLifford Avenue, Colombo 3
Email: investor@expolanka.com
our strategies as we forge ahead in to the future.
Chairman - Board of Directors 16th June 2022, Colombo
EXPOLANKA HOLDINGS PLC | 6 | EXPOLANKA HOLDINGS PLC |
INTEGRATED ANNUAL REPORT 2021/22 | INTEGRATED ANNUAL REPORT 2021/22 |
ABOUT THE | EXPOLANKA HOLDINGS PLC | ||||||||||||||||||||||||||||||||
REPORT | INTEGRATED REPORT | ||||||||||||||||||||||||||||||||
NAVIGATING THE REPORT | |||||||||||||||||||||||||||||||||
Capitals | |||||||||||||||||||||||||||||||||
CARBON NEUTRAL CERTIFICATE | |||||||||||||||||||||||||||||||||
Climate Smart Initiatives (Pvt ) Ltd assures that | |||||||||||||||||||||||||||||||||
Expolanka Holdings PLC's | |||||||||||||||||||||||||||||||||
Integrated Annual Report for the financial year 2021/22 | |||||||||||||||||||||||||||||||||
is a carbon neutral product having offset Integrated Annual Report's carbon footprint of 1.04 tCO2e by purchasing United Nations Certified Emission | |||||||||||||||||||||||||||||||||
Reductions (CERs) from the project activity 6702 registered under UN Clean Development Mechanism. | |||||||||||||||||||||||||||||||||
Product carbon footprint has been measured and reported in accordance with the requirements of | |||||||||||||||||||||||||||||||||
1. ISO 14067: 2018 (E) Standard & | |||||||||||||||||||||||||||||||||
2. Greenhouse Gas Protocol (Life Cycle Accounting and Reporting Standard) developed by World Business Council for Sustainable | |||||||||||||||||||||||||||||||||
Development and World Resource Institute. | |||||||||||||||||||||||||||||||||
Certificate No | : ClimateSI/CNP/017 | ||||||||||||||||||||||||||||||||
Date of Certification | : 09/ 06/ 2022 | ||||||||||||||||||||||||||||||||
Period of Assessment | : 01/04/2021 to 31/03/2022 | ||||||||||||||||||||||||||||||||
Period of Validity | : 01/04/2022 to 31/03/2023 | ||||||||||||||||||||||||||||||||
Scope of Certification | : Cradle to Gate | ||||||||||||||||||||||||||||||||
Financial | Manufactured | Intellectual | Human | Social and | Natural | ||||||||||||||||||||||||||||
capital | capital | capital | capital | relationship | capital | ||||||||||||||||||||||||||||
capital | ........................................................ | ||||||||||||||||||||||||||||||||
Eng.H.M. Buddika Hemashantha | |||||||||||||||||||||||||||||||||
(Bsc (Hons) Eng., M.Eng.) | |||||||||||||||||||||||||||||||||
Chief Executive Officer | |||||||||||||||||||||||||||||||||
Climate Smart Initiatives (Pvt) Ltd | |||||||||||||||||||||||||||||||||
DATE: 1 MAY 2022 | |||||||||||||||||||||||||||||||||
REFERENCE: VC23448/2022 | |||||||||||||||||||||||||||||||||
Stakeholders | Presented to | ||||||||||||||||||||||||||||||||
VOLUNTARY | |||||||||||||||||||||||||||||||||
CANCELLATION | Expolanka Holdings PLC | ||||||||||||||||||||||||||||||||
Project | |||||||||||||||||||||||||||||||||
CERTIFICATE | Jangi 91.8 MW wind farm in Gujarat | ||||||||||||||||||||||||||||||||
Reason for cancellation | |||||||||||||||||||||||||||||||||
To achieve the carbon neutrality of Expolanka Holdings PLC' s annual report for the year | |||||||||||||||||||||||||||||||||
2021/22, assessed by Climate Smart Initiatives (Pvt) Ltd. | |||||||||||||||||||||||||||||||||
Number of units | 2 | CERs | |||||||||||||||||||||||||||||||
cancelled | |||||||||||||||||||||||||||||||||
Equivalent | to 2tonne(s) of CO2 | ||||||||||||||||||||||||||||||||
Start serial number: IN-5-273594446-2-2-0-6702 | The certificate is issued in accordance with the procedure for voluntary | ||||||||||||||||||||||||||||||||
End serial number: IN-5-273594447-2-2-0-6702 | cancellation in the CDM Registry. The reason included in this certificate is | ||||||||||||||||||||||||||||||||
provided by the cancellor. | |||||||||||||||||||||||||||||||||
Stakeholders and | Employees | Customers | Suppliers | Community | Regulators | ||||||||||||||||||||||||||||
investors | |||||||||||||||||||||||||||||||||
7
A CARBON NEUTRAL PUBLICATION
As our Integrated Annual Report has been a carbon neutral publication this year, it stands as an example of our commitment to reduce emissions that could cause irreversible damage to the environment. In order to map the carbon footprint of Expolanka's Integrated Annual Report, comprehensive data was gathered by Climate Smart Initiatives (Pvt)
Ltd. Following this in-depth analysis based on the ISO 14067 :2018 (E) methodology, the total amount of Green House Gas (GHG) emissions accumulated at each stage of the product lifecycle of the Integrated Report 2021/22 was then measured in CO2 equivalent.
The contribution we have made to obtain the carbon offset credit will be used for the upkeep of a Wind farm which generates renewable energy. We selected this project which is ultimately the provision of more renewable and sustainable approaches to solving environmental problems.
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Expolanka Holdings plc published this content on 21 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 June 2022 04:13:06 UTC.