CT Land Development : ANNUAL REPORT 2021/22

CT LAND DEVELOPMENT PLC

Annual Report 2021 2022

Content

Financial Spotlight	04
Chairman's Message	06
Board of Directors	08
Corporate Governance	10
Related Party Transactions Review Committee Report	14
The Remuneration Committee Report	15

Financial Reports

Annual Report of the Board of Directors	18
Statement of Directors' Responsibility	21
Audit Committee Report	22
Independent Auditors' Report	23
Statement of Profit or Loss and Other Comprehensive Income	26
Statement of Financial Position	27
Statement of Changes in Equity	28
Statement of Cash Flow	29
Notes to the Financial Statements	30
Statement of Value Added	67
Shareholder and Investor Information	69
Notice of Annual General Meeting	72
Notes	74
Form of Proxy	75
Corporate Information	Inner Back Cover

Fast Food and Drinks

INTERNATIONAL

FRANCHISE

RESTAURANT

FOOD ARCADE

Supermarket

INTERNATIONAL BRANDS AND FASHION BOUTIQUES

MULTIPLEX WITH

THREE SCREENS

Wide Array of Products

Banks and ATMs

LIFE THAT BROUGHT LIVES TOGETHER…

CT Land Development PLC is the owning company of Majestic City, Sri Lanka's premier shopping mall-cum-entertainment complex, the vision of the founding Chairman, the late Mr. Albert A. Page.

The Majestic City Mall, the iconic landmark and super regional shopping destination in the heart of Colombo city which offers the very best of shopping, food & beverages as well as leisure and Entertainment.

Established in 1983 the mall is a leading shopping destination attracting over 10,000 visitors daily, with over best global brands spanning across a total size of 250,000 square feet area. Anchored with country's biggest super market chain Cargills Food City, Superior Cinema (3 screens) and a very good retail mix across Fashion, Jewellery, Electronics, Food & Beverage, Home improvement, Entertainment, Health Beauty & Wellness and a Kids section with some renowned high-street brands. Leading the category in delivering the Sri Lankan urban lifestyle experience to a wide array of customers and consumers the mall also boasts of F&B outlets and an added advantage of multiple road access and parking convenience with a total of 165 parking slots.

The Airy Atrium, ingeniously lit by day through a massive skylight providing a panoramic view of the upper floors of the building to make shopping a pleasure. The Atrium is also utilized as a venue to stage variety entertainment shows, exhibitions and trade promotion displays.