SHAPING
YOUR FUTURE
LAUGFS POWER PLC | ANNUAL REPORT 2021/22
At LAUGFS Power, we have been on a steady journey shaping the
future of our nation with sustainable solutions that promise a greener tomorrow. Today, we are a leading contender in Sri Lanka's renewable power sector, with seven power plants located across Sri Lanka. We have further broadened our horizon to explore other energy sources such as Wind Power, fuelling our growth aspirations in alignment with the country's clean energy agenda.
During the year under review, we continued with our efforts to
diversify our portfolio, in a bid to support the socioeconomic progress of the country. Moving ahead, we aim to steadily expand our footprint locally and internationally to satisfy the growing demand for energy with sustainable solutions that are better and safer for the planet.
At LAUGFS Power, we are actively shaping your future.
CONTENTS
About us 4
Performance Highlights 7
Chairman's Message 8
Deputy Chairman's Message 10
Group Managing Director/Group Chief Executive
Officer's Message 12
Board of Directors 14
Management Discussion and Analysis 18 Operating Environment 22 Corporate Governance Check list 25 Risk Management 27
Annual Report of the Board of Directors on the Affairs of the Company 31
Statement of Directors' Responsibilities 35 Audit Committee Report 36
Report of The Related Party Transactions Review Committee 38 Remuneration Committee 40
FINANCIAL INFORMATION
Independent Auditors' Report 42
Statement of Profit or Loss 45
Statement of Comprehensive Income 46
Statement of Financial Position 47
Statement of Changes in Equity 48
Statement of Cash Flows 49
Notes to the Financial Statements 50
Share Information 97
Real Estate Portfolio 102
Five Year Summary - Group 103
Notice of Meeting 104
Form of Proxy Voting 105
Form of Proxy Non-Voting 107
Corporate Information 108
2 LAUGFS POWER PLC
VISION
TO BE THE MOST PREFERRED AND TRUSTED SRI LANKAN CONGLOMERATE THAT TOUCHES THE DAY-TO-DAY LIVES OF PEOPLE IN SRI LANKA AND BEYOND, THROUGH A DIVERSE RANGE OF BUSINESSES THAT EXTENDS ACROSS TRANSNATIONAL BORDERS.
MISSION
BE THE LEADER IN THE MARKET SEGMENTS WE OPERATE IN.
INTRODUCE LATEST INNOVATIONS, TECHNOLOGY AND SOLUTIONS TO ADD VALUE TO THE CONSUMER.
PROMOTE A SAFETY CULTURE, ENCOMPASSING PEOPLE, PRODUCTS AND PROCESSES.
ENSURE FAIR RETURNS TO ALL OUR STAKEHOLDERS.
LEAD BY EXAMPLE AS A RESPONSIBLE CORPORATE ENTITY.
FOSTER A CULTURE OF ONE 'LAUGFS FAMILY'.
Annual Report 2021/22 | 3 |
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Laugfs Power Ltd. published this content on 05 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 September 2022 08:19:03 UTC.