Aitken Spence : First Quarter 2020-2021

Interim Statements

for the three months ended 30th June 2020

INCOME STATEMENTS
Group	Company
For the three months ended 30th June	2020 2019	2020 2019
Rs.'000 Rs.'000	Rs.'000 Rs.'000

Revenue	5,499,468	12,420,783	149,882	270,179
Revenue taxes	(203)	(124,374)	-	(4,151)
Net revenue	5,499,265	12,296,409	149,882	266,028
Other operating income / (loss)	(251,391)	(1,484)	(159,958)	462,570
Changes in inventories of finished goods and work-in-progress	42,763	(46,143)	-	-
Raw materials and consumables used	(2,398,105)	(3,873,680)	-	-
Employee benefits expense	(1,685,653)	(2,260,054)	(81,587)	(128,273)
Depreciation and amortisation	(1,151,710)	(922,210)	(11,016)	(12,131)
Other operating expenses-direct	(1,046,826)	(2,954,109)	-	-
Other operating expenses-indirect	(743,442)	(1,392,421)	(58,630)	(137,163)
Profit / (loss) from operations	(1,735,099)	846,308	(161,309)	451,031
Finance income	204,231	219,991	217,098	228,043
Finance expenses	(824,109)	(645,651)	(332,053)	(376,239)
Net finance income / (expense)	(619,878)	(425,660)	(114,955)	(148,196)
Share of profit of equity-accounted investees (net of tax)	63,092	54,510	-	-
Profit / (loss) before tax	(2,291,885)	475,158	(276,264)	302,835
Income tax expenses	(67,354)	(228,114)	(1,375)	(4,251)
Profit / (loss) for the period	(2,359,239)	247,044	(277,639)	298,584
Attributable to:
Equity holders of the company	(1,511,240)	216,747	(277,639)	298,584
Non-controlling interests	(847,999)	30,297	-	-
Profit / (loss) for the period	(2,359,239)	247,044	(277,639)	298,584
Earnings / (loss) per share
Basic/Diluted (Rs.)	(3.72)	0.53	(0.68)	0.74
The above figures are subject to audit.

STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

For the three months ended 30th June

Group	Company
2020 2019	2020 2019
Rs.'000 Rs.'000	Rs.'000 Rs.'000

Profit / (loss) for the period	(2,359,239)	247,044	(277,639)	298,584
Other comprehensive income / (loss)
Items that will not be reclassified to profit or loss
Equity investments at FVOCI - net change in fair value	721	(542)	(1,153)	(844)
721	(542)	(1,153)	(844)
Items that are or may be reclassified to profit or loss
Exchange differences on translation of foreign operations	(203,420)	45,837	-	-
Net movement on cash flow hedges	(4,932)	(84,684)	-	-
Share of other comprehensive income of
equity-accounted investees (net of tax)	54,134	3,534	-	-
(154,218)	(35,313)	-	-
Other comprehensive income / (loss) for the
period, (net of tax)	(153,497)	(35,855)	(1,153)	(844)
Total comprehensive income / (loss) for the period	(2,512,736)	211,189	(278,792)	297,740
Attributable to:
Equity holders of the company	(1,590,810)	213,229	(278,792)	297,740
Non-controlling interests	(921,926)	(2,040)	-	-
Total comprehensive income / (loss) for the period	(2,512,736)	211,189	(278,792)	297,740
The above figures are subject to audit.

STATEMENTS OF FINANCIAL POSITION

Company
As at	30.06.2020 31.03.2020	30.06.2020 31.03.2020
Rs.'000 Rs.'000	Rs.'000 Rs.'000
ASSETS
Non-current assets

Group

Property, plant & equipment	78,797,682	79,399,615	120,889	129,617
Investment properties	1,631,774	1,631,840	3,421,941	3,422,396
Intangible assets	1,047,611	1,069,997	16,958	18,583
Biological assets	57,948	56,275	-	-
Right-of-use assets	12,814,387	13,249,662	-	-
Investments in subsidiaries	-	-	11,861,777	11,723,777
Investments in equity-accounted investees	6,779,872	6,688,625	2,786,545	2,786,545
Deferred tax assets	797,256	766,677	301,543	299,501
Other financial assets	798,316	800,719	20,501	21,654
102,724,846	103,663,410	18,530,154	18,402,073
Current assets
Inventories	2,613,429	2,834,640	3,083	3,172
Trade and other receivables	13,013,251	15,695,545	3,577,686	3,947,170
Current tax receivable	117,101	151,544	25,499	25,499
Deposits and prepayments	1,754,330	1,684,261	76,827	96,982
Other financial assets	9,708,698	10,850,655	9,093,470	10,141,146
Cash and short-term deposits	6,174,488	6,594,267	1,335,249	1,478,385
33,381,297	37,810,912	14,111,814	15,692,354
Assets classified as held for sale	1,169,400	1,189,650	72,237	72,237
Total Assets	137,275,543	142,663,972	32,714,205	34,166,664
EQUITY AND LIABILITIES
Equity
Stated capital	2,135,140	2,135,140	2,135,140	2,135,140
Reserves	25,085,698	25,165,268	12,174,644	12,175,797
Retained earnings	21,603,843	23,648,558	1,781,227	2,566,361
Total equity attributable to equity holders of the company	48,824,681	50,948,966	16,091,011	16,877,298
Non-controlling interests	11,433,179	12,355,105	-	-
Total Equity	60,257,860	63,304,071	16,091,011	16,877,298
Non-current liabilities
Interest-bearing loans and borrowings	36,182,255	34,700,410	2,772,714	2,826,859
Lease liabilities	10,451,210	10,360,318	-	-
Deferred tax liabilities	2,352,376	2,358,017	-	-
Employee benefits	931,644	884,793	71,145	66,214
Other liabilities	384,141	386,274	-	-
50,301,626	48,689,812	2,843,859	2,893,073
Current liabilities
Interest-bearing loans and borrowings	1,986,660	3,357,190	100,466	182,626
Lease liabilities	644,486	763,965	-	-
Trade and other payables	11,546,853	13,281,399	6,319,222	7,094,876
Current tax payable	221,328	371,444	-	-
Final dividend declared	507,495	-	507,495	-
Other financial liabilities	-	30,005	-	27,275
Bank overdrafts and other short-term borrowings	11,809,235	12,866,086	6,852,152	7,091,516
26,716,057	30,670,089	13,779,335	14,396,293
Total Equity and Liabilities	137,275,543	142,663,972	32,714,205	34,166,664
Net assets per share (Rs.)	120.26	125.49	39.63	41.57
The above figures are subject to audit.

The Chief Financial Officer certifies that the financial statements have been prepared in compliance with the requirements of the Companies Act No. 7 of 2007.

sgd.	sgd.	sgd.
Deshamanya D.H.S. Jayawardena	Dr. M. P. Dissanayake	Ms. N. Sivapragasam
Chairman	Deputy Chairman and	Chief Financial Officer
Managing Director
Colombo,
12th August 2020

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

For the three months ended 30th June 2020 ..................................... Attributable to equity holders of the company ............................

Stated capital

Other capital reserves

General reservesRs '000

Rs '000Rs '000

Revaluation Exchange Fair value Cash flow reserve fluctuation reserve hedge reserve reserveRs '000

Rs '000

Rs '000Rs '000

Retained earningsTotalNon controlling interests

Total equityRs '000

Rs '000

Rs '000

Rs '000

Balance as at 01st April 2020

Loss for the period

Other comprehensive income / (loss) for the period

Total comprehensive income / (loss) for the period

Share of net assets of equity-accounted investees

Final dividends for 2019/2020

Total contributions and distributions, recognised directly in equity

Balance as at 30th June 2020

- - -	- - -	- - -	- - -	(78,086) - -	721 - -	(2,205) - -	(1,511,240) (25,980) (507,495)	(1,590,810) (25,980) (507,495)	(921,926) - -	(2,512,736) (25,980) (507,495)
-	-	-	-	-	-	-	(533,475)	(533,475)	-	(533,475)
2,135,140	148,440	12,226,788	8,887,021	4,430,590	(7,799)	(599,342)	21,603,843	48,824,681	11,433,179	60,257,860

For the three months ended 30th June 2019

Balance as at 01st April 2019

Adjustment on initial application of SLFRS 16, net of tax

Adjusted balance as at 01st April 2019

Profit for the period

Other comprehensive income for the period

Total comprehensive income for the period

Acquisition and changes in non-controlling interest

Final dividends for 2018/2019

Dividends paid to non-controlling interests

Total contributions and distributions, recognised directly in equity

Balance as at 30th June 2019

2,135,140148,44012,226,7888,887,0214,508,676

(8,520)	(597,137)23,648,55850,948,966	12,355,10563,304,071
-	-	-	-	-	-	-(1,511,240)(1,511,240)	(847,999)(2,359,239)
-	-	-	-	(78,086)	721

(2,205)

-(79,570)

..................................... Attributable to equity holders of the company ............................

Stated capital

Other capital reserves

General Revaluation Exchange Fair value Cash flowreservesRs '000Rs '000Rs '000

reserve fluctuation reserve hedge reserve reserve

Rs '000

Rs '000Rs '000Rs '000

(73,927)

(153,497)

Retained earningsTotalNon controlling interests

Total equityRs '000

Rs '000

Rs '000

Rs '000

2,135,140	148,44010,947,1568,891,0573,902,977	(6,747)(466,841)23,899,40149,450,583	12,635,23762,085,820
-	(212,004)(1,106,719)

-

-----(894,715)

(894,715)

2,135,140 - -	148,440 - -	10,947,156 - -	8,891,057 - -	3,902,977 - 34,873	(6,747) - (542)	(466,841) - (37,849)	23,004,686 216,747 -	48,555,868 216,747 (3,518)	12,423,233 30,297 (32,337)	60,979,101 247,044 (35,855)
- - - -	- - - -	- - - -	- 33 - -	34,873 (7,248) - -	(542) - - -	(37,849) - - -	216,747 16,767 (608,994) -	213,229 9,552 (608,994) -	(2,040) (2,539) - (94,234)	211,189 7,013 (608,994) (94,234)
-	-	-	33	(7,248)	-	-	(592,227)	(599,442)	(96,773)	(696,215)
2,135,140	148,440	10,947,156	8,891,090	3,930,602	(7,289)	(504,690)	22,629,206	48,169,655	12,324,420	60,494,075

COMPANY STATEMENT OF CHANGES IN EQUITY

For the three months ended 30th June 2020

Stated	General	Fair	Retained	Total
capital	reserve	value	earnings
reserve
Rs.'000	Rs.'000	Rs.'000	Rs.'000	Rs.'000
Balance as at 01st April 2020	2,135,140	12,197,124	(21,327)	2,566,361	16,877,298
Loss for the period	-	-	-	(277,639)	(277,639)
Other comprehensive loss for the period	-	-	(1,153)	-	(1,153)
Total comprehensive loss for the period	-	-	(1,153)	(277,639)	(278,792)
Final Dividends for 2019/2020	-	-	-	(507,495)	(507,495)
Balance as at 30th June 2020	2,135,140	12,197,124	(22,480)	1,781,227	16,091,011
For the three months ended 30th June 2019
Stated	General	Fair	Retained	Total
capital	reserve	value	earnings
reserve
Rs.'000	Rs.'000	Rs.'000	Rs.'000	Rs.'000
Balance as at 01st April 2019	2,135,140	10,917,492	(19,305)	3,038,249	16,071,576
Profit for the period	-	-	-	298,584	298,584
Other comprehensive income for the period	-	-	(844)	-	(844)
Total comprehensive income for the period	-	-	(844)	298,584	297,740
Final dividends for 2018/2019	-	-	-	(608,994)	(608,994)
Balance as at 30th June 2019	2,135,140	10,917,492

(20,149) 2,727,839 15,760,322

STATEMENTS OF CASH FLOWS

Company
For the three months ended 30th June	2020	2019	2020	2019
Rs.'000	Rs.'000	Rs.'000	Rs.'000
Cash flow from operating activities
Profit / (loss) before taxation	(2,291,885)	475,158	(276,264)	302,835
Adjustments for
Depreciation and amortisation	1,151,710	922,210	11,016	12,131
Interest expense	790,149	596,454	331,837	375,146
(Gain) / loss on disposal of property plant and equipment	(769)	2,025	-	-
Interest income	(204,231)	(219,991)	(217,098)	(228,043)
Share of profit of equity-accounted investees (net of tax)	(63,092)	(54,510)	-	-
Impairment losses and write offs of trade & other receivables	70,385	13	-	-
Net foreign exchange (gain) / loss	(27,191)	(32,585)	(73,386)	7,397
Provision for retirement benefit obligations	61,546	62,033	4,992	5,233
1,778,507	1,275,649	57,361	171,864
Operating profit / (loss) before working capital changes	(513,378)	1,750,807	(218,903)	474,699
(Increase)/decrease in trade and other receivables	2,611,909	2,316,671	369,484	(86,247)
(Increase)/decrease in inventories	221,211	(251,599)	89	(708)
(Increase)/ decrease in deposits & prepayments	(82,341)	(165,593)	18,104	7,403
Increase/(decrease) in trade and other payables	(1,734,546)	(1,407,737)	(775,654)	(427,702)
Increase/(decrease) in other liabilities	(2,133)	(16,111)	-	-
1,014,100	475,631	(387,977)	(507,254)
Cash generated from / (used in) operations	500,722	2,226,438	(606,880)	(32,555)
Interest paid	(267,567)	(343,651)	(285,771)	(317,646)
Income tax paid	(209,479)	(265,209)	(1,365)	(4,251)
Retirement benefit obligations paid	(14,632)	(20,476)	(61)	-
(491,678)	(629,336)	(287,197)	(321,897)
Net cash flow from operating activities	9,044	1,597,102	(894,077)	(354,452)
Cash flow from investing activities
Interest received from deposits	174,703	221,526	189,717	228,606
Investment in subsidiaries and equity-accounted investees	-	(14)	(138,000)	(375,000)
Investment in equity and debt securities	-	(20,849)	-	(20,849)
Purchase of property, plant and equipment	(838,944)	(2,668,467)	(208)	(41)
Purchase of intangible assets	(150)	(10,184)	-	-
Purchase of biological assets	(2,021)	(481)	-	-
Proceeds from disposal of property, plant and equipment	4,723	1,011	-	-
Proceeds from sale of equity and debt securities	4,167	21,667	4,167	16,667
Proceeds / (purchase) of other financial assets and liabilities (net)	1,121,746	613,632	1,038,166	631,727
Dividends paid to non-controlling interests	-	(94,234)	-	-
Dividends received from equity-accounted investees	-	24,080	-	-
Net cash flow from investing activities	464,224	(1,912,313)	1,093,842	481,110

Group

STATEMENTS OF CASH FLOWS - CONTD.

For the three months ended 30th June	2020	2019	2019
Rs.'000	Rs.'000	Rs.'000
Cash flow from financing activities
Proceeds from interest-bearing loans and borrowings	380,125	2,381,736	-
Repayment of interest-bearing loans and borrowings	(182,480)	(829,231)	(170,271)
Payment of lease liabilities	(55,573)	-	-
Issue of shares by subsidiaries	-	7,027	-
Dividends paid to equity holders of the parent	-	(138,028)	(138,028)
Net cash flow from financing activities	142,072	1,421,504	(308,299)
Net increase/(decrease) in cash and cash equivalents	615,340	1,106,293	(181,641)
Cash and cash equivalents at the beginning of the period (Note A)	(6,250,087)	(3,097,858)	(3,631,107)
Cash and cash equivalents at the end of the period	(5,634,747)	(1,991,565)	(3,812,748)
Cash and cash equivalents at the end of the period
Cash at bank and in hand & deposits	6,174,488	8,130,030	2,465,778
Short-term bank borrowings	(11,809,235)	(10,121,595)	(6,278,526)
Cash and cash equivalent at the end of the period	(5,634,747)	(1,991,565)	(3,812,748)
Note A
Cash and cash equivalents at the beginning of the period
Cash at bank and in hand & deposits	6,594,267	7,932,428	2,036,706
Short-term bank borrowings	(12,866,086)	(11,057,705)	(5,669,566)
Cash and cash equivalent as previously reported	(6,271,819)	(3,125,277)	(3,632,860)
Effect of exchange rate changes	21,732	27,419	1,753
Cash and cash equivalent as restated	(6,250,087)	(3,097,858)	(3,631,107)
- 7 -

Company 2020 Rs.'000

Group

- (118,098)

- - -

(118,098)

81,667 (5,598,570)

(5,516,903)

1,335,249 (6,852,152)

(5,516,903)

1,478,385

(7,091,516)

(5,613,131)

14,561

(5,598,570)

NOTES TO THE FINANCIAL STATEMENTS

1. Segment analysis

1.1 Segment analysis of Group revenue and profitTourism sectorMaritime & Freight

Logistics SectorStrategic InvestmentsServices sector

Total

For the three months ended

30th June

2020 Rs.'000

2019 Rs.'000

2020 Rs.'000

2019 Rs.'000

2020 Rs.'000

2019 Rs.'000

2020 Rs.'000

2019 Rs.'000

2020 Rs.'000

2019 Rs.'000

Total revenue generated Less : Inter-segmental revenue Less : Intra-segmental revenue

Total revenue with equity-accounted investees

Share of equity-accounted investees' revenue Revenue from external customers

Profit/(loss) from operations Finance income

195,4654348,034186,997

Finance expenses (638,385)

Share of profit / (loss) of equity (89,306)

- accounted investees (net of tax)

Profit / (loss) before tax Income tax expense

Profit / (loss) for the period

1.2 Segment analysis of

Group assets

As at

Segment assets

Investments in equity accounted investees

Goodwill on consolidation Assets classified as held for sale Eliminations / adjustments Total assets

(2,804,886)

(2,225,408)

72,677(2,732,209)

148,213

186,611

4,977,103 11,001 406,858	2,209,778 39,347 126,127	2,838,024 99,619 138,875	3,842,286 89,391 92,692	5,896,267 179,956 162,705	339,244 49,784 12,834	625,842 66,845 18,762	6,586,773 178,956 239,687
4,559,244 (50,972)	2,044,304 (263,390)	2,599,530 (455,341)	3,660,203 (404,886)	5,553,606 (312,254)	276,626 -	540,235 (13,265)	6,168,130 (668,662)
4,508,272	1,780,914	2,144,189	3,255,317	5,241,352	276,626	526,970	5,499,468
(104,412) 169,283 (381,316) (69,222)	366,337 26,029 (41,564) 108,343	433,516 14,300 (38,079) 118,190	25,128 21,975 (133,908) 44,359	428,189 28,662 (215,049) (196)	98,844 8,014 (10,252) (304)	89,015 7,746 (11,207) 5,738	(1,735,099) 204,231 (824,109) 63,092
(385,667)	459,145	527,927	(42,446)	241,606	96,302	91,292	(2,291,885)
(126,596)	(73,834)	(81,012)	(45,362)	(2,729)	(20,835)	(17,777)	(67,354)
(512,263)	385,311	446,915	(87,808)	238,877	75,467	73,515	(2,359,239)

(386)

Tourism sectorMaritime & Freight

Logistics SectorStrategic InvestmentsServices sector

14,337,236 357,421 727,200 13,252,615

(831,832)

12,420,783

846,308 219,991 (645,651)

54,510

475,158 (228,114)

247,044

Total

30.06.2020 31.03.2020 30.06.2020 31.03.2020 30.06.2020 31.03.2020 30.06.2020 31.03.2020 30.06.2020 31.03.2020

Rs.'000

Rs.'000

Rs.'000

75,684,03279,833,967 13,422,336740,822

651,517

---

---

76,335,54980,574,789

4,732,129

Rs.'000 Rs.'000 13,104,221 41,549,9254,598,024

1,350,714

---

---

---

18,154,46517,702,245 42,900,639

Rs.'000

Rs.'000 Rs.'000

44,288,782 4,764,0501,303,963

45,512

---

---

45,592,745 4,809,562

Rs.'000

4,443,220 135,420,34345,816

6,779,872

-

-

932,2201,169,400

-(7,026,292)

4,489,036 137,275,543

Rs.'000 141,670,190 6,688,625

941,835 1,189,650 (7,826,328)

142,663,972

• 1. Basis of preparation

  The Financial Statements of the company and those consolidated with such for the interim period have been prepared on the same basis as the most recent audited financial statements and are in compliance with Sri Lanka Accounting Standards - LKAS 34 - Interim Financial Reporting.

  The accounting policies have been consistently applied by the Group and are consistent with those used in the previous year. The presentation and classification of the financial statements of the previous period have been also adjusted where relevant, for better presentation and to be comparable with year end reporting.

• 2. Dividends paid

  The final ordinary dividend of Rs. 1.25 per share for the year ended 31st March 2020 was paid on 9th July 2020, after it was approved at the Annual General Meeting on the 30th June 2020. Total dividend paid was Rs. 507,495,056.25.

• 3. Fair value measurement and related fair value disclosures

  As at reporting date there were no significant differences in the comparison made between fair value and carrying value of financial assets and liabilities, from what was disclosed in the annual report for the year ending 31st March 2020. There were no transfers between different levels of fair value hierarchy or changes to assets classes classified on recurring and non-recurring basis. Valuation techniques or significant unobservable inputs used for measuring level 2 and level 3 fair values remains unchanged from 31st March 2020.

  During the period under review there were no transfers in and out of level 3 financial instrument measurement and any change in fair values are captured in the statement of other comprehensive income.

  Unquoted equity shares that are subjected to level 3 of fair value measurement hierarchy, were revalued as at the reporting date. Fair value would not significantly vary if one or more unobservable inputs used for valuation were changed.

• 4. Contingencies, capital and other commitments

  There were no liabilities for management fees or any other similar expenditure not provided for in the interim financial statements.

  During the period under review there were no material change in the nature of contingencies and other commitments, which were disclosed in the annual report for the year ended 31st March 2020.

• 5. Impact due to the COVID - 19

  The Aitken Spence Group continues to monitor the impact of the COVID-19 pandemic on the Group's business operations in order to take appropriate corrective action when the necessity arises. The Group's operations in the tourism sector which were temporarily halted after the last financial year end continued to be closed throughout the quarter under review. Companies in the maritime and freight logistics, power generation and plantations sectors continued to operate even during the lockdown, while companies in all other sectors recommenced operations immediately after the lockdown. Further, a few of the Group's hotels in Sri Lanka recommenced operations in July 2020 for local customers, and one hotel in the Maldives recommenced operations in July with the reopening of the borders for tourists.

  The majority of the Group companies operating in sectors other than tourism have shown steady recovery recording positive results over the period.

• 6. Events after the reporting period

  There were no material events that occurred after the reporting date that require adjustments to or disclosure in the financial statements.

NON FINANCIAL INFORMATION

30.06.2020
1.	Stated Capital
Number of shares represented by the stated capital (31.03.2020 - 405,996,045)	405,996,045
Number of Public Shareholders	5,599
Percentage of shares held by the Public	45.68%
Floated adjusted market capitalisation - Rs.'000	6,769,301
2.
3.

As the floated adjusted market capitalisation is over 5.0 billion, Aitken Spence PLC complies under option 3 with the minimum public holding requirement.

Shares Traded

Market Price per Share - Last traded (Rs.) 37.00

Market Price per Share - Highest (Rs.) 37.30

Market Price per Share - Lowest (Rs.) 24.50

Shareholding of Directors

The number of shares held by the Board of Directors are as follows ;

Name of Director	Position	30.06.2020	31.03.2020
1 Deshamanya D.H.S. Jayawardena	Chairman	Nil	Nil
2 Dr. M. P. Dissanayake	Deputy Chairman and Managing Director	Nil	Nil
3 Dr. R.M. Fernando	Director	Nil	Nil
4 Ms. D.S.T. Jayawardena	Director	27,839	27,839
5 Mr. J.M.S. Brito	Director	525,495	505,495
5 Mr. G.C. Wickremasinghe	Director	7,308,240	7,308,240
6 Mr. C.H. Gomez	Director	Nil	Nil
7 Mr. N. J. de Silva Deva Aditya	Director	Nil	Nil
8 Mr. R.N. Asirwatham	Director	1,000	1,000
9 Mr. A.L. Gooneratne	Alternate Director to Mr. N.J. de Silva Deva Aditya	Nil	Nil

4. Substantial Shareholdings

The twenty largest shareholding as at 30th June 2020 are as follows ;

Name of the Share Holder	Shareholding	%
1	Melstacorp PLC	204,314,171	50.32
2	Rubicond Enterprises Limited	65,990,145	16.25
3	Employees' Provident Fund	20,590,978	5.07
4	Mr. G.C. Wickremasinghe	7,308,240	1.80
5	Placidrange Holdings Limited	5,521,500	1.36
6	Renuka Hotels Limited	5,479,990	1.35
7	Milford Exports (Ceylon) (Pvt) Limited	5,114,500	1.26
8	Northern Trust Company S/A Hosking Global Fund PLC	4,466,804	1.10
9	East West Properties PLC	3,580,842	0.88
10	SSBT-Retail Employees Superannuation Trust	3,298,636	0.81
11	Stassen Exports (Pvt) Limited	3,244,500	0.80
12	Ms. A.T. Wickremasinghe	3,211,975	0.79
13	Mrs. K. Fernando	3,135,070	0.77
14	Mr. G.Wickremasinghe	3,019,090	0.74
15	Employees Trust Fund Board	2,621,870	0.65
16	Bank of Ceylon No. 1 Account	2,596,230	0.64
17	National Savings Bank	2,493,516	0.61
18	Citibank Hong Kong S/A Hostplus Pooled Superannuation Trust	1,815,537	0.45
19	Sampath Bank PLC / Dr. T. Senthilverl	1,350,663	0.33
20	Mr. A.B. Rodrigo (Deceased)	1,284,720	0.32

CORPORATE INFORMATION

as at 30th June 2020

DIRECTORS

Deshamanya D.H.S. Jayawardena - Chairman

Dr. M. P. Dissanayake - Deputy Chairman and Managing Director Dr. R.M. Fernando

Miss. D.S.T. Jayawardena Mr. J.M.S. Brito

Mr. G.C. Wickremasinghe Mr. C.H. Gomez

Mr. N.J. de Silva Deva Aditya Mr. R.N. Asirwatham

Mr. A.L. Gooneratne (Alternate Director to Mr. N.J. de Silva Deva Aditya)

SECRETARIES

Aitken Spence Corporate Finance (Private) Limited.

REGISTERED OFFICE

Aitken Spence Tower II

315, Vauxhall Street, Colombo 02,

Sri Lanka.