ENGINEERING BETTER SRI LANKA - CECBcecb.lk/about/pdf/English_opt.pdfBSc., Dip. Mgt., FCA, Chartered...
Transcript of ENGINEERING BETTER SRI LANKA - CECBcecb.lk/about/pdf/English_opt.pdfBSc., Dip. Mgt., FCA, Chartered...
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ENGINEERINGBETTER SRI LANKA
As the acclaimed business icon for national engineering consultancy and construction excellence in Sri Lanka and Overseas, CECB spans 42 long years of solid engineering performances as a state owned, commercially successful self financing entity. Our engineering roots entrenched firmly in the massive multipurpose Mahaweli Development infrastructure project has since then been extended and grown to add engineering expertise to the development of diversified array of social and economic infrastructures in Sri Lanka and overseas.
Our integrated strengths and capabilities covers – Dams, Tunnels, Hydropower Engineering (Sri Lanka/Eastern Africa), Irrigation, Water Supply/Sanitation & Environmental Engineering, Highways, Bridges, Rail Roads, Airports, High-Rises, Buildings & Urban infrastructure, University Campuses, Laboratories, Health Care, Coastal & Marine, Defence infrastructure, Sri Lankan High Commissions overseas to name a few. Our range of expertise further covers environmental studies, natural resources management, socioeconomic aspects of resettlement, community development, ICT networks etc. Truly we are the one stop shop for all engineering design, consultancy and construction needs.
We have continuously met our national obligations towards the post conflict era changes and aspirations of our people. As we near our golden jubilee, our position is among the strongest in the industry. CECB with its trained multidisciplinary expertise and advanced engineering capabilities will redouble its efforts to face the future national challenges in protecting environment while creating attractive public and private infrastructures and utilities.
CONTENTS
Financial Highlights 03 Statement of Financial Position 20Board of Directors 04 Cash Floe Statements 21 Our Team 06 Statement of Changes in Equity 22 Corporate Information & Notes to the Financial Statements 23Accounting Policies 07 Auditor General’s Report 48 Financial Statements Performances of the Year 59Statement of Comprehensive Income 19 CESL 70
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CECB’s Vision
“To be a world Class Engineering Organization”
CECB’s Mission
To be a World Class Engineering Organization, acquiring ex- cellence in Engineering, Architecture and Quantity Surveying, utilizing state of the art technology, with a highly motivated, trained and skilled workforce rewarded appropriately for their contribution use of resources for the maximum benefit to man- kind.
INSPIRED TO GO BEYOND
he CECB – Central Engineering Consultancy Bureau. The Foremost consultancy Organization in Sri
Lanka today: multi – disciplinary in func- tion, futuristic in approach and, above all, gifted with a team of inspired profession- als yearning to go Forward.
That inspiration comes with a history – a history that has left indelible marks nu- merously on the face of this country from over two millennia ago: a history that flourished when the developed world of today was hardly awake.
Fortunately, those indelible marks – inge- nious engineering feats – of that distant time are still with us, not as some lifeless artifact, but as something that runs though our veins….. Feeding us…. And breathing very life to our souls. And that sprouts in- spiration in the men and women we have chosen. At CECB, we give wings to such inspira- tion.
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CECB’s Vision
“To be a world Class Engineering Organization”
CECB’s Mission
To be a World Class Engineering Organization, acquiring ex- cellence in Engineering, Architecture and Quantity Surveying, utilizing state of the art technology, with a highly motivated, trained and skilled workforce rewarded appropriately for their contribution use of resources for the maximum benefit to man- kind.
INSPIRED TO GO BEYOND
he CECB – Central Engineering Consultancy Bureau. The Foremost consultancy Organization in Sri
Lanka today: multi – disciplinary in func- tion, futuristic in approach and, above all, gifted with a team of inspired profession- als yearning to go Forward.
That inspiration comes with a history – a history that has left indelible marks nu- merously on the face of this country from over two millennia ago: a history that flourished when the developed world of today was hardly awake.
Fortunately, those indelible marks – inge- nious engineering feats – of that distant time are still with us, not as some lifeless artifact, but as something that runs though our veins….. Feeding us…. And breathing very life to our souls. And that sprouts in- spiration in the men and women we have chosen. At CECB, we give wings to such inspira- tion.
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CECB’s Vision
“To be a world Class Engineering Organization”
CECB’s Mission
To be a World Class Engineering Organization, acquiring ex- cellence in Engineering, Architecture and Quantity Surveying, utilizing state of the art technology, with a highly motivated, trained and skilled workforce rewarded appropriately for their contribution use of resources for the maximum benefit to man- kind.
INSPIRED TO GO BEYOND
he CECB – Central Engineering Consultancy Bureau. The Foremost consultancy Organization in Sri
Lanka today: multi – disciplinary in func- tion, futuristic in approach and, above all, gifted with a team of inspired profession- als yearning to go Forward.
That inspiration comes with a history – a history that has left indelible marks nu- merously on the face of this country from over two millennia ago: a history that flourished when the developed world of today was hardly awake.
Fortunately, those indelible marks – inge- nious engineering feats – of that distant time are still with us, not as some lifeless artifact, but as something that runs though our veins….. Feeding us…. And breathing very life to our souls. And that sprouts in- spiration in the men and women we have chosen. At CECB, we give wings to such inspira- tion.
Page | 1
T
CECB’s Vision
“To be a world Class Engineering Organization”
CECB’s Mission
To be a World Class Engineering Organization, acquiring ex- cellence in Engineering, Architecture and Quantity Surveying, utilizing state of the art technology, with a highly motivated, trained and skilled workforce rewarded appropriately for their contribution use of resources for the maximum benefit to man- kind.
INSPIRED TO GO BEYOND
he CECB – Central Engineering Consultancy Bureau. The Foremost consultancy Organization in Sri
Lanka today: multi – disciplinary in func- tion, futuristic in approach and, above all, gifted with a team of inspired profession- als yearning to go Forward.
That inspiration comes with a history – a history that has left indelible marks nu- merously on the face of this country from over two millennia ago: a history that flourished when the developed world of today was hardly awake.
Fortunately, those indelible marks – inge- nious engineering feats – of that distant time are still with us, not as some lifeless artifact, but as something that runs though our veins….. Feeding us…. And breathing very life to our souls. And that sprouts in- spiration in the men and women we have chosen. At CECB, we give wings to such inspira- tion.
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FINANCIAL HIGHLIGHTS
2012
Group
CECB
2011
CECB
Rs.Mn Rs.Mn Rs.Mn
Restated
Construction Revenue
11,543
11,543
7,640
Consultancy Revenue 1,508 1,508 909 Consolidated Revenue 13,051 13,051 8,550 Gross Profit 1,624 1,560 924 Net Profit Before tax 558 545 308 Net profit after tax 266 259 146 Total assets 16,805 14,179 12,129 Contributed Capital - 500 500 Total Equity 3,624 3,615 3,259 Total Equity Equilibrium 16,805 14,179 12,129 Current Assets 13,520 11,082 9,421 Current Liabilities 12,917 10,324 8,631
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BOARD OF DIRECTORS
Eng.Nihal Rupasinghe Eng.M.A.P. Hemachandra Mr. S.M.N.L.Senanayake Eng. S.S.Ediriweera
BSc. (Hons), PG Dip. (Hydro power) Norway, C. Eng., MIE (SL),MICE (London), Licd. Surveyor
Joined Faculty of Engineering, Uni- versity of Peradeni- ya as Instructor in 1980. Joined Central Engineering Consul- tancy Bureau in 1981. Appointed as Chief Resident Engineer in 1989 to 1996. Func- tioned as Project Manager, CECB 1997 to 1998. Appointed as Additional General Manager (Engineer- ing Procurement and Construction) to manage the Said Division. Appointed Chairman/CECB in 2005.
F.I.E.D.(SL), M.I.E.E., M.I.Prod. Functioned as the Chair- man B.C.C. Lanka Ltd., Chairman/ Managing Director in Colombo Sack Makers Ltd. and State Pharmaceuticals Manu- facturing Corporation of Sri Lanka. Appointed as the Working Director of the Central Engineering Consultancy Bureau in June 2010.
BSc., Dip. Mgt., FCA, Chartered Accountant. Joined Corporate Vision (Pvt) Ltd., as a Direc- tor in 1988 and joined Financial Consultants and Allied Services (Pvt) Ltd., as a Director in 1994. In 2008, joined Mahaweli Cultural Foundation Trust as a Director and in 2004 joined Central Engineer- ing Consultancy Bureau as Director. He is also a Director of State Phar- maceuticals Corporation and State Pharmaceu- ticals Manufacturing Corporation since 2010.
BSc., Eng MIE(SL), C. Eng. Appointed as Director, Ministry of Posts and Telecommunications from 1972 to 1991. Joined Sri Lanka Telecom Services Ltd., as General Manager and appointed as Member of the Board of Directors in 1992. Attached to Associat- ed News Papers of Ceylon Ltd., and functioned as Managing Director in 2000. He worked as Secretary in Ministry of Posts, Telecom- munication and Information Technology Development and as Secretary in Ministry of Tertiary Education and Training in 2001. In 2004, retired from Public Service. Appointed as an Engineer- ing Consultant of Media and Information and as a Board Member of Sri Lanka Rupa- vahini Corporation and a Board Member of Sri Lanka Broadcasting Corporation. Doubling as Advisor to the Board, ITN. In 2011 January he was appointed as Board of Director in CECB and as an Executive Director of CESL. He is a member of the production Engineers (London) and the Institu- tion of Electrical Engineers (London)
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BOARD OF DIRECTORS CONTINUED
Eng. Ranjith Pemasiri Dr. M.H.M.U.P. Herath Mr. Wasantha Ekanayake
BSc.Eng.(Hons), MIE(SL), MSc.(Construction Mgt.)
Joined Road Development Authority as Executive En- gineer/ Resident Engineer in 1981and in 1993 appointed as a Director Highway in Provin- cial Department of Highways and as a Project Director at Ministry of Home Affairs and Provincial Councils. Assumed duties as General Manager at Southern Provincial Road Development Authority in 1993. Worked as National Project Director at Ministry of Provincial Councils and Local Government since 2003. Presently working as General Manager, Road Development Authority. Appointed as Di- rector of Central Engineering Consultancy Bureau in year 2010.
MBBS (Col.) Medical Officer at Ragama Rehabilitation Hospital since 2010. Appointed as a Director of Central Engineering Consul- tancy Bureau in August 2010.
(B.A.(Hons.), Class 1 of the Sri Lanka Administrative Service. Director General, Department of Management Audit, Trea- sury Representative/ Member of the Board of Directors of Central Engineering Consul- tancy Bureau in 2010.
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CORPORATE INFORMATION AND ACCOUNTING POLICIES 1. CORPORATE INFORMATION
1.1 Domicile and Legal Form
Central Engineering Consultancy Bureau is a State Corporation established under the provisions of the State Industrial Corporations Act no. 49 of 1957 and domiciled in Sri Lanka. The Bureau’s registered office and the principal place of business are located at No.415, Bauddhaloka Mawatha, Colombo 07. The Consolidated Financial Statements of Central Engineering Consultancy Bureau as at and for the year ended 31st December 2012 comprises the Bureau and its subsidiaries (together referred to as the “Group”). The Financial Statements of all Companies in the Bureau have a common financial year which ends on December 31st.
1.2 Principal Activities and Nature of Operations Central Engineering Consultancy Bureau is primarily involved in the business of construction, consultancy and any engineering related activities. Central Engineering Service (Private) Limited (CESL) is a fully owned subsidiary of CECB engage in the business of undertaking and executing Design-Build, Turnkey and other types of construction work in the field of civil, electrical and mechanical engineering and all aspects connected therewith or ancillary or incidental thereto on its own or as a member of joint venture or a member of a consortium in Sri Lanka or elsewhere.
2 BASIS OF PREPARATION
2.1 Statement of Compliance The financial statements of the Bureau and the Group comprise the statement of comprehensive income, statement of financial position, statement of changes in equity and the cash flow statement, together with the accounting policies and notes to the financial statements. These financial statements have been prepared in accordance with Sri Lanka Accounting Standards (SLFRS and LKAS) as issued by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka). These Financial Statements for the year ended 31st December, 2012 are the first Financial Statements prepared and presented in accordance with Sri Lanka Accounting Standards immediately effective from 1st January, 2012. Financial Statements were prepared in accordance with Sri Lanka Accounting Standards (SLAS) effective up to 31st December, 2011 reconciled on convergence of the SLAS compliant Financial Statements to SLFRS/LKAS compliant Financial Statements are given in Note 32 to the Financial Statements. The Consolidated Financial Statements were authorized for issue by the Board of Directors in accordance with the resolution passed by the Board of Directors on 10th February 2014. Financial Statements of the subsidiary is prepared in compliance with the Accounting policies of the Bureau unless stated otherwise.
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3 SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
3.2 Foreign Currency Transactions All foreign exchange transactions are converted to functional currency, at the rates of exchange prevailing at the time the transactions are effected. Monetary assets and liabilities denominated in foreign currency are retranslated to functional currency equivalents at the spot exchange rate prevailing at the reporting date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rates as at the dates of the initial transactions. Non-monetary assets and liabilities are translated using exchange rates that existed when the values were determined. The gain or loss arising on translation of non-monetary items is recognised in line with the gain or loss of the item that gave rise to the translation difference.
3.3 Financial assets and financial liabilities (a) Non-derivative financial assets
The Group initially recognises loans and receivables and deposits on the date that they originated. All other financial assets are recognised initially on the trade date at which the Group becomes a party to the contractual provisions of the instrument.
The Group derecognises a financial asset when the contractual rights to the cash flows from the asset expire, or it transfers the rights to receive the contractual cash flows on the financial asset in a transaction in which substantially all the risks and rewards of ownership of the financial assets are transferred. Any interest in transferred financial assets that is created or retained by the Group is recognised as a separate asset or liability.
Financial assets and liabilities are offset and the net amount presented in the statement of financial position when, and only when, the Group has a legal right to offset the amounts intends either to settle on a net basis or realize the assets and settle the liability simultaneously.
The Group has the following non-derivative financial assets: loans and receivables and available-for-sale financial assets.
(i) Loans and receivables Loans and receivables are financial assets with fixed or determinable payments that are not quoted in an active market. Such assets are recognized initially at fair value plus any directly attributable transaction costs. Subsequent to initial recognition loans and receivables are measured at amortized cost using the effective interest method, less any impairment losses.
Loans and receivable comprise cash and cash equivalents, investment in debenture and trade and other receivables, including related party receivables.
(ii) Cash and cash equivalents
Cash and cash equivalents comprise cash balances and call and fixed deposits with original maturities of three months or less. Bank overdrafts that are repayable on demand and form an integral part of the Group’s cash management are included as a component of cash and cash equivalents for the purpose of the statement of cash flows.
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3 SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 3.3 Financial assets and financial liabilities (Continued)
(iii) Available-for-sale financial assets
Available-for-sale financial assets are non-derivative financial assets that are designated as available-for sale and that are not classified as any of the other financial assets. The Group’s investments in equity securities are classified as available-for sale financial assets. Subsequent to initial recognition, they are measured at fair value and changes therein, are recognised in other comprehensive income and presented within equity in the fair value reserve. When an investment is derecognised, the cumulative gain or loss in other comprehensive income is transferred to profit or loss. However investments in equity instruments that do not have a quoted market price in an active market and whose fair value cannot be reliably measured therefore the equity instruments are measured at cost.
(b) Non-derivative financial liabilities The Group initially recognises debt securities issued on the date that they are originated. All other financial liabilities are recognized initially on the trade date at which the Group becomes a party to the contractual provisions of the instrument.
The Group derecognises a financial liability when its contracted obligations are discharged, cancelled or expired.
The Group classifies non-derivative financial liabilities in to the other financial liabilities category. Such financial liabilities are recognised initially at fair value plus any directly attributable transaction costs. Subsequent to initial recognition these financial liabilities are measured at amortized cost.
Other financial liabilities comprise: loans and borrowings, trade and other payables.
Ordinary Share Capital
Ordinary Shares are classified as equity. Incremental costs directly attributable to the issue of ordinary shares are recognised as a deduction from equity net of any tax effects.
3.4 Impairment
3.4.1 Non-derivative Financial assets
A financial asset not carried at fair value through profit or loss is assessed at each reporting date to determine whether there is objective evidence that it is impaired. A financial asset is impaired if objective evidence indicates that a loss event has occurred after the initial recognition of the asset, and that the loss event had a negative effect on the estimated future cash flows of that asset that can be estimated reliably.
Objective evidence that financial assets are impaired can include default or delinquency by a debtor, restructuring of an amount due to the Group on terms that the Group would not consider otherwise, indications that a debtor or issuer will enter bankruptcy, or the disappearance of an active market for a security. In addition, for an investment in an equity security, a significant or prolonged decline in its fair value below its cost is objective evidence of impairment.
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3 SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 3.4 Impairment (Continued)
3.4.1 Financial assets (Continued)
The Group considers evidence of impairment for receivables at a specific asset level. All individually significant receivables are as assessed for specific impairment.
An impairment loss in respect of a financial asset measured at amortised cost is calculated as the difference between its carrying amount and the present value of the estimated future cash flows discounted at the asset’s original effective interest rate. Losses are recognised in profit or loss and reflected in an allowance account against receivables. Interest on the impaired asset continues to be recognised through the unwinding of the discount. When a subsequent event causes the amount of impairment loss to decrease, the decrease in impairment loss is reserved through profit or loss. Impairment losses on available-for-sale investment securities are recognised by transferring the cumulative loss that has been recognised in other comprehensive income, and presented in the fair value reserve in equity, to profit or loss. The cumulative loss that is removed from other comprehensive income and recognised in profit or loss is the difference between the acquisition cost, net of any principal repayment and amortisation, and the current fair value, less any impairment loss previously recognised in profit or loss. Changes in impairment provisions attributable to time value are reflected as a component of interest income.
3.4.2 Non-financial assets
The carrying amounts of the Group’s non-financial assets other than inventories and deferred tax assets, are reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication exists, then the asset’s recoverable amount is estimated.
The recoverable amount of an asset or cash-generating unit is the greater of its value in use and its fair value less costs to sell. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risk specific to the asset. For the purpose of impairment testing, assets are Grouped together into the smallest Group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or Groups of assets (the “cash generating unit”). The goodwill acquired in a business combination, for the purpose of impairment testing, is allocated to cash-generating units that are expected to benefit from the synergies of the combination.
An impairment loss is recognised if the carrying amount of an asset or its cash-generating unit exceeds its estimated recoverable amount. Impairment losses are recognised in profit or loss.Impairment losses recognised in respect of cash-generating units are allocated first to reduce the carrying amount of any goodwill allocated to the units and then to reduce the carrying amounts of the other assets in the unit (Group of units) on a pro rata basis.
An impairment loss in respect of goodwill is not reversed. In respect of other assets, impairment losses recognized in prior periods are assessed at each reporting date for any indications that the loss has decreased or no longer exists. An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount. An impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortisation, if no impairment loss had been recognized.
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3 SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
3.5 Property, Plant and Equipment
3.5.1 Recognition and Measurement Property, Plant and Equipment are stated at cost/revaluation less accumulated depreciation and accumulated impairment losses. The Group elected to apply the optional exemption of SLFRS 1 First Time adoption of Sri Lanka Accounting Standards (SLFRS) to use the fair value as deemed cost at the date of transition for certain items of property, plant and equipments.(Note 15). The cost of an item of property, plant and equipment comprise its purchase price and any directly attributable costs of bringing the asset to working condition for its intended use. The cost of self-constructed assets includes the cost of materials, direct labor, and any other costs directly attributable to bringing the asset to the working condition for its intended use. When parts of an item of property, plant and equipment have different useful lives, they are accounted for separate items (major component) of property, plant and equipment. When parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items (major components) of property, plant and equipment
3.5.2 Leased Assets Leases in terms of which the Group assumes substantially all the risk and rewards of ownership are classified as finance leases. Upon initial recognition the leased asset is measured and capitalized at an amount equal to the lower of its fair value and the present value of minimum lease payments. Subsequent to initial recognition, the asset is accounted for in accordance with the accounting policy applicable to that asset. 3.5.3 Subsequent Costs The cost of replacing part of an item of property, plant and equipment is recognized in the carrying amount of the item if it is probable that the future economic benefits embodied within the part will flow to the Group and its cost can be measured reliably. The carrying amount of the replaced part is derecognised. The costs of the day to day servicing of property, plant and equipment are recognized in profit or loss as incurred. 3.5.4 De-recognition
The carrying amount of an item of property, plant and equipment is de-recognized on disposal or when no future economic benefits are expected from its use or disposal. Gains or losses on de-recognition are recognized within other income in profit or loss.
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3 SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
3.5 Property, Plant and Equipment (Continued)
3.5.5 Depreciation Depreciation is recognized in profit or loss on the straight-line basis over the estimated useful lives of each part of item of Property, Plant and Equipment. Leased assets are depreciated over the shorter of the lease term and their useful lives unless it is reasonably certain that the Group will obtain ownership by the end of the lease term. Depreciation of an asset begins when it is available for use whereas depreciation of an asset ceases at the earlier of the date that the asset is classified as held for sale (or included in a disposal Group that is classified as held for sale) and the date that the asset is derecognised. Depreciation is not charged on Freehold Land and Capital Work in Progress.
The estimated useful lives are as follows:
Asset Category Useful Lives
Freehold Building 13.33 yearsOffice Equipment and Furniture and Fittings 8 yearsConstruction Instruments and equipments 4-5 yearsMotor Vehicles 4 yearsPlant and Machinery 5 yearsContainers 5 yearsComputers 5 yearsLibrary Books 8 years
3.5.6 Capital Work in Progress Capital expenses incurred during the year which are not completed as at the reporting date are shown as Capital Work-in-Progress, whilst the capital assets which have been completed during the year and available to use have been transferred to Property, Plant and Equipment.
3.6 Inventories
Inventories are valued at lower of cost and net realizable value. Cost is determined on the weighted average cost basis and includes expenses incurred in acquiring the inventories and bringing them to their existing location and condition.
3.6.1 Work in Progress
Construction contracts in progress represent the gross unbilled amount expected to be collected from customers for contract work performed to date. It is measured at cost plus profit recognised to date less progress billings and recognised losses. Cost includes all expenditure related directly to specific projects and an allocation of fixed and variable overheads incurred in the Group’s contract activities based on normal operating capacity. Construction contracts in progress is presented as part of trade and other receivables in the statement of financial position for all contracts in which costs incurred plus recognised profits exceed progress billings. If progress billings exceed costs incurred plus recognised profits, then the difference is presented as deferred income/revenue in the statement of financial position.
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3 SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
3.7 Employee benefits
(a) Defined contribution plans
A defined contribution plan is a post-employment benefit plan under which contributions are made into a separate fund and the entity will have no legal or constructive obligation to pay further amounts. Obligations for contributions to defined contribution plan are recognised as an employee benefit expense in profit or loss in the periods during which services are rendered by employees. Prepaid contributions are recognised as an asset to the extent that a cash refund or a reduction in future payments is available.
Defined Contribution Plans - Employees Provident Fund and Employees Trust Fund
All employees who are eligible for Employees Provident Fund contribution and Employees Trust Fund contribution are covered by relevant contribution funds in line with respective statutes and regulations. The Group contributes 12 % and 3% of gross emoluments of employees to Employees’ Provident Fund and Employees’ Trust Fund respectively
(b) Defined Benefit Plan - Gratuity The Bureau is liable to pay gratuity in terms of the Payment of Gratuity Act No: 12 of 1983, where the liability to an employee arises only on completion of five years of continued service. However, the provision is calculated based on half month’s salary of the last month of the financial year of service in conformity with the Sri Lanka Accounting Standard No: 16, ‘”Retiring Benefit Cost”.
3.8 Provisions
Provisions are recognised if, as a result of a past event the Group has a present legal or constructive obligation that can be estimated reliably and it is probable that an outflow of economic benefit will be required to settle the obligation. Provisions and liabilities are recognised in the balance sheet. Provisions are determined by discounting expected future cash flows at a pre-tax rate that reflects current market assessment of the time value of money and the risk specific to the liability. Unwinding of discount is recognised as finance cost
3.9 Statement of Comprehensive Income
3.9.1 Revenue
(a) Construction Contracts Contract revenue includes the initial amount agreed in the contract plus any variations in contract work, claims and incentive payments, to the extent that it is probable that they will result in revenue and can be measured reliably. As soon as the outcome of a construction contract can be estimated reliably, contract revenue is recognised in profit or loss in proportion to the stage of completion of the contract. The stage of completion is assessed with reference to the proportion that contract cost incurred for work performed to date bear to the estimated total contract costs. When the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised only to the extent of contract costs incurred that are likely to be recoverable.
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3 SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
3.9 Statement of Comprehensive Income (Continued) 3.9.1 Revenue (Continued)
(b) Consultancy Services The Group generates revenues from consultancy service related to construction work. Revenue from consultancy services is recognised in profit or loss in proportion to the stage of the transaction at the reporting date. The stage of completion is assessed with reference to survey of work performed.
3.9.2 Interest Income
For all financial instruments measured at amortised cost and interest bearing financial assets classified as available for sale, interest income or expense is recorded using the effective interest rate (EIR), which is the rate that exactly discounts the estimated future cash payments or receipts through the expected life of the financial instrument or a shorter period, where appropriate, to the net carrying amount of the financial asset or liability. Interest income is included in finance income in the income statement.
3.9.2 Dividend Income
Dividend income is accounted when the shareholders’ right to receive payment is established.
3.9.3 Other Income
Profits or losses from disposal of property, plant and equipments recognized having deducted from proceeds on disposal, the carrying value of the assets and the related expenses.
Foreign currency gains and losses are reported on a net basis.
3.9.4 Expenditure Recognition (a) Construction and consultancy Cost
Contract expenses are recognised as incurred unless they create an asset related to future contract activity. Expected losses are recognized as an expense when it is probable that the total cost pertaining to construction contracts will exceed its revenue. Other Expenses All expenditure incurred in the running of the business and in maintaining the Property, Plant and Equipment in a state of efficiency has been charged to revenue in arriving at the profit for the year.
3.9.5 Taxation
(a) Current Taxes Current Income tax liabilities for the current and prior periods are measured at the amount expected to be recovered from or paid to the Commissioner General of Inland Revenue. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted by the reporting date. The provision for income tax is based on the elements of income and expenditures reported in the Financial Statements and computed with in accordance with the provisions of the Inland Revenue Act. The relevant details are disclosed in the respective notes to the Financial Statements.
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3 SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
3.9 Statement of Comprehensive Income (Continued)
3.9.5 Taxation (Continued)
Deferred tax is recognised in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax is not recognised for:
Temporary differences on the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss;
Temporary differences related to investments in subsidiaries and jointly controlled entities to the extent that it is probable that they will not reverse in the foreseeable future; and
Taxable temporary differences arising on the initial recognition of goodwill. Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, based on the laws that have been enacted or substantively enacted by the reporting date.
4 EVENTS OCCURRING AFTER THE REPORTING PERIOD
Events after the reporting period are those events favourable and unfavourable that occurs between the end of the reporting period and the date when the Financial Statements are authorized for issue. The materiality of the events occurring after the reporting period is considered and appropriate adjustments to or disclosures are made in the Financial Statements, where necessary.
5 NEW ACCOUNTING STANDARDS ISSUED BUT NOT EFFECTIVE AS AT THE REPORTING DATE
A number of new standards, amendments to standards and interpretations are effective for annual periods beginning after 1 January 2014, and have not been applied in preparing these consolidated financial statements. Those which may be relevant to the Group are set out below. The Group does not plan to adopt these standards early.
(i) SLFRS 10 Consolidated Financial Statements, SLFRS 11 Joint Arrangements, SLFRS 12 Disclosure of Interests in Other Entities
SLFRS 10 introduces a single control model to determine whether an investee should be consolidated. As a result, the Group may need to change its consolidation conclusion in respect of its investees, which may lead to changes in the current accounting for these investees.
Under SLFRS 11, the structure of the joint arrangement, although still an important consideration, is no longer the main factor in determining the type of joint arrangement and therefore the subsequent accounting. SLFRS 12 brings together into a single standard all the disclosure requirements about an entity’s interests in subsidiaries, joint arrangements, associates and unconsolidated structured entities. The Group is currently assessing the disclosure requirements for interests in subsidiaries, interests in joint arrangements and associates and unconsolidated structured entities in comparison with the existing disclosures. SLFRS 12 requires the disclosure of information about the nature, risks and financial effects of these interests.
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6 NEW ACCOUNTING STANDARDS ISSUED BUT NOT EFFECTIVE AS AT THE REPORTING DATE (CONTINUED)
(iii) SLFRS 13 Fair Value Measurement
SLFRS 13 provides a single source of guidance on how fair value is measured, and replaces the fair value measurement guidance that is currently dispersed throughout SLFRS. Subject to limited exceptions, SLFRS 13 is applied when fair value measurements or disclosures are required or permitted by other SLFRSs. The Group is currently reviewing its methodologies in determining fair values.
7 First Time Adoption of SLFRSs/LKAS These Financial Statements, for the year ended 31 December 2012, are the first financial statement of the Group has prepared in accordance with SLFRS/LKAS. For periods up to and including the year ended 31 December 2011, the Group prepared its financial statements in accordance with Sri Lanka Accounting Standards (SLASs) which were effective up to 31st December 2011. Group has prepared its Financial Statements which comply with SLFRSs applicable for periods ending on or after 31 December 2012 and prior periods, together with the comparative period’s data as at and for the years ended 31 December 2011, as described in the accounting policies.
In preparing these financial statements, the Group’s opening Statement of Financial Position was prepared as at 1 January 2011, the Group’s date of transition to SLFRS. Note 42 explains the principal adjustments made by the Group in restating its SLAS statement of financial position as at 1 January 2011 and its previously published SLAS financial statements as at and for the year ended 31 December 2011. The effect of Group’s transition to SLFRSs described in Note 28 is summarized in this note as follows: Transition elections; Reconciliation of equity and comprehensive income as previously reported under previous SLAS and SLFRSs.
8 Transition Elections SLFRS 1 – First-time Adoption of Sri Lanka Financial Reporting Standards allows first-time adopters certain exemptions from the retrospective application of certain SLFRSs.
Accordingly the Group has applied the following transition exceptions and exemptions to full retrospective application of SLFRSs. (a) Fair value or revaluation as deemed cost
Deemed Cost of Property, Plant and Equipment certain items of property, plant and equipment have been measured at fair value at the date of transition to SLFRSs which were carried in the statement of financial position prepared in accordance with previous SLAS on the basis of acquisition cost. The Group has elected to regard those values as deemed cost at the date of the revaluation since they were broadly comparable to fair value.
Page | 18
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31ST DECEMBER
2012 2011 2012 2011Rs. Rs. Rs. Rs.
Note
Revenue 9 13,051,404,569 8,550,176,848 13,051,404,569 8,550,176,848
Cost of Sales 10 (11,427,073,880) (7,592,905,377) (11,491,305,532) (7,626,512,721)
Gross Profit 1,624,330,689 957,271,471 1,560,099,037 923,664,127
Other Income 11 257,331,766 291,500,170 241,051,176 289,825,801
Administration Expenses (1,183,162,649) (951,787,024) (1,118,904,881) (921,391,793)
Selling and Distribution Expenses (316,855,524) (84,396,410) (316,855,524) (84,396,410)
Results from Operating Activities 381,644,282 212,588,207 365,389,808 207,701,724
Finance Income 201,368,165 114,975,754 199,625,758 114,939,272
Finance Cost (24,343,420) (15,444,710) (20,123,026) (14,609,857) -
Net Finance Income 12 177,024,745 99,531,044 179,502,732 100,329,415
Profit Before Income Tax 558,669,027 312,119,251 544,892,540 308,031,139
Income Tax Expense 14 (291,677,345) (164,074,708) (285,794,064) (161,905,298) -
Profit/(Loss) for the Year 266,991,682 148,044,543 259,098,476 146,125,841
Other Comprehensive Income
- - - -
Other Comprehensive Income for the Year - - - -
Total Comprehensive Income for the Year 266,991,682 148,044,543 259,098,476 146,125,841
Figures in brackets indicates deductions.
The Notes to the Financial Statements set out on pages 5 to 40 form an integral part of these Financial Statements.
GROUP CECB
CENTRAL ENGINEERING CONSULTANCY BUREAU
1
Page | 19
AS AT 31ST DECEMBER
2012 2011 2010 2012 2011 2010Rs. Rs. Rs. Rs. Rs. Rs.
Assets NoteNon-Current Assets
Property, Plant and Equipment 15 3,217,787,244 2,664,214,277 2,361,824,781 3,029,322,086 2,643,168,837 2,361,824,781 Investments 16 68,114,301 64,456,627 69,796,710 68,114,321 64,456,647 69,796,710
Total Non-Current Assets 3,285,901,545 2,728,670,904 2,431,621,491 3,097,436,407 2,707,625,484 2,431,621,491
Current AssetsInventories 17 667,283,290 278,209,888 230,776,561 473,612,890 277,233,388 230,776,561 Trade and Other Receivables 18 10,744,968,138 9,277,200,225 2,549,702,106 8,571,483,325 6,908,203,554 2,549,702,106 Short term Investments 16 1,572,852,406 1,707,593,967 1,491,086,629 1,572,852,406 1,707,593,967 1,491,086,629 Cash and Cash Equivalents 20 534,761,471 615,208,770 327,792,660 464,311,326 528,777,653 327,792,660
Total Current Assets 13,519,865,305 11,878,212,850 4,599,357,956 11,082,259,947 9,421,808,562 4,599,357,956 Total Assets 16,805,766,850 14,606,883,754 7,030,979,447 14,179,696,354 12,129,434,046 7,030,979,447
Equity and Liabilities - Contributed Capital 500,000 500,000 500,000 500,000 500,000 500,000 Capital Reserve 3,027,999 12,697,551 12,697,551 3,027,999 12,697,551 12,697,551 Retained Earnning 3,621,103,055 3,247,819,226 3,081,060,339 3,611,291,147 3,245,900,524 3,081,060,339
Total Equity 3,624,631,054 3,261,016,777 3,094,257,890 3,614,819,146 3,259,098,075 3,094,257,890
Non-Current LiabilitiesLease Creditors 21 35,565,671 49,724,339 3,348,385 11,624,193 36,288,826 3,348,385 Retirement Benefit Obligation 22 228,787,990 203,004,443 172,616,158 228,787,990 203,004,443 172,616,158 Differed Tax 23 76,388 61,355 - - - -
Total Non-Current Liabilities 264,430,049 252,790,137 175,964,543 240,412,183 239,293,269 175,964,543
Current LiabilitiesTrade and Other Payables 24 12,331,787,072 10,584,051,848 3,367,666,505 10,022,553,967 8,123,827,340 3,367,666,505 Income Tax Payables 25 382,092,902 452,561,417 386,442,259 374,116,600 450,453,362 386,442,259 Lease Creditors 21 36,544,774 7,107,672 - 18,740,207 - - Inter Base current accounts 6,701,059 - (153,711) 6,701,059 - (153,711) Inter company current accounts 159,579,941 - - (97,646,808) 7,406,097 - Bank Overdraft 20 - 49,355,903 6,801,961 - 49,355,903 6,801,961
Total Current Liabilities 12,916,705,748 11,093,076,840 3,760,757,014 10,324,465,025 8,631,042,702 3,760,757,014 Total Liabilities 13,181,135,796 11,345,866,977 3,936,721,557 10,564,877,208 8,870,335,971 3,936,721,557 Total Equity and Liabilities 16,805,766,850 14,606,883,754 7,030,979,447 14,179,696,354 12,129,434,046 7,030,979,447 - - - - - - -
U.N.B.Mawathagama Finance Manager
Approved and signed for and on behalf of the Board ;
Eng. N.Rupasinghe Eng. S.S.EdiriweeraCHAIRMAN DIRECTOR
04th November 2014Colombo
It is certified that the Financial Statements have been prepared in compliance with geneally accepted accounting policies.
The Board of Directors is responsible for the preparation and presentation of these Financial Statements.
CENTRAL ENGINEERING CONSULTANCY BUREAUSTATEMENT OF FINANCIAL POSITION
The Notes to the Financial Statements set out on pages 5 to 40 form an integral part of these Financial Statements. Figures in brackets indicates deductions.
GROUP CECB
2
Page | 20
FOR THE YEAR ENDED 31ST DECEMBER 2012 2011 2012 2011Rs. Rs. Rs. Rs.
Cash Flows from Operating Activities
Profit Before Tax 558,669,027 312,119,251 544,892,540 308,031,139
Adjustments for:
Depreciation on Property, Plant and Equipments 270,948,236 162,369,658 215,955,094 155,787,195
Provision / reversal of Bad and Doubtful Debts 253,228,799 84,357,975 253,228,799 84,357,975
Provision for Gratuity 54,909,537 50,277,065 54,909,537 50,277,065
Net Finance Income (177,024,745) (99,531,044) (179,502,732) (100,329,415)
Previous Period Adjustments 96,622,595 18,714,344 96,622,595 18,714,344
(Profit) / Loss on disposal of Property, Plant and Equipments 15,299,893 44,895,184 15,299,894 44,895,183
Exchange Loss on fixed deposits 263,795 - 263,795 -
Operating Profit before Working Capital Changes 1,072,917,137 573,202,433 1,001,669,521 561,733,486
(Increase)/Decrease in Inventories (389,073,402) (47,433,327) (196,379,502) (46,456,827)
(Increase)/Decrease in Trade and Other Receivables (1,720,996,712) (6,811,856,094) (1,916,508,570) (4,442,859,423)
Increase/(Decrease) in Trade and Other Payables 1,747,735,224 7,216,385,343 1,898,726,627 4,756,160,835
Increase/(Decrease) in Amounts Due to Related Companies 159,579,941 - (105,052,905) 7,406,097
Increase in Inter Base current accounts 6,701,059 153,711 6,701,059 153,711
Cash Generated from Operating Acitivities 876,863,247 930,452,066 689,156,230 836,137,880
Interest paid (24,343,420) (15,444,710) (20,123,026) (14,609,857)
Tax paid (362,130,829) (97,894,194) (362,130,825) (97,894,195)
Gratuity paid (29,125,990) (19,888,780) (29,125,990) (19,888,780)
Net Cash Flows from Operating Activities 461,263,008 797,224,382 277,776,389 703,745,048
Cash Flows from Investing Activities
Investment in Property Plant and Equipment (671,479,463) (306,520,505) (481,810,606) (301,660,460)
Investment in Capital Work in Progress (137,493,498) (144,685,278) (137,493,498) (144,685,278)
Investment / Disposal of Long Term Deposit (3,657,674) 5,340,083 (3,657,674) 5,340,063
Investment / Disposal of Short Term Deposit 134,477,766 (216,507,338) 134,477,766 (216,507,338)
Interest Income 201,368,165 114,975,754 199,625,758 114,939,272
Net Cash Flows from Investing Activities (476,784,705) (547,397,284) (288,858,254) (542,573,742)
Cash Flows from Financing Activities
Payment of Finance Lease Liabilities (15,569,700) (4,964,929) (4,028,559) (2,740,255)
Net Cash from Financing Activities (15,569,700) (4,964,929) (4,028,559) (2,740,255)
Net Increase/(Decrease) in Cash and Cash Equivalents (31,091,396) 244,862,168 (15,110,424) 158,431,051
Cash and Cash Equivalent at the beginning 565,852,867 320,990,699 479,421,750 320,990,699
Cash and Cash Equivalent at the end (Note 20) 534,761,471 565,852,867 464,311,326 479,421,750
Figures in brackets indicates deductions.
The Notes to the Financial Statements set out on pages 5 to 40 form an integral part of these Financial Statements.
GROUP CECB
CENTRAL ENGINEERING CONSULTANCY BUREAUCASH FLOW STATEMENT
3
Page | 21
FOR THE YEAR ENDED 31ST DECEMBER
Contributed Capital
Capital Reserve
Retained Earnings Total
Rs. Rs. Rs. Rs.
Balance as at 01st January 2011 500,000 12,697,551 3,081,060,339 3,094,257,890 Net Profiit For the Year - - 146,125,841 146,125,841 Prior Period Adjustments - - 18,714,344 18,714,344
Balance as at 31st December 2011 500,000 12,697,551 3,245,900,524 3,259,098,075
Net Profiit For the Year - - 259,098,476 259,098,476 Prior Period Adjustments - - 96,622,595 96,622,595 Trasfers of Capital Reserves (9,669,552) 9,669,552 -
Balance as at 31st December 2012 500,000 3,027,999 3,611,291,147 3,614,819,146
Contributed Capital
Capital Reserve
Retained Earnings Total
Rs. Rs. Rs. Rs.
Balance as at 01st January 2011 500,000 12,697,551 3,081,060,339 3,094,257,890 Net Profiit For the Year - - 148,044,543 148,044,543 Prior Period Adjustments - - 18,714,344 18,714,344
Balance as at 31st December 2011 500,000 12,697,551 3,247,819,226 3,261,016,777
Net Profiit For the Year - - 266,991,682 266,991,682 Prior Period Adjustments - - 96,622,595 96,622,595 Trasfers of Capital Reserves (9,669,552) 9,669,552 -
500,000 3,027,999 3,621,103,055 3,624,631,054
Balance as at 31st December 2012 500,000 3,027,999 3,621,103,055 3,624,631,054
The Notes to the Financial Statements set out on pages 5 to 40 form an integral part of these Financial Statements.
GROUP
CECB
CENTRAL ENGINEERING CONSULTANCY BUREAUSTATEMENT OF CHANGES IN EQUITY
4
Page | 22
FOR THE YEAR ENDED 31ST DECEMBER
2012 2011 2012 2011Rs. Rs. Rs. Rs.
9 RevenueConstruction Revenue 11,542,700,246 7,640,245,757 11,542,700,246 7,640,245,757 Consultancy Revenue 1,508,704,323 909,931,091 1,508,704,323 909,931,091
13,051,404,569 8,550,176,848 13,051,404,569 8,550,176,848
10 Cost of salesConstruction Cost 10,390,504,534 6,914,874,922 10,454,736,186 6,948,482,266 Consultancy Cost 1,036,569,346 678,030,455 1,036,569,346 678,030,455
11,427,073,880 7,592,905,377 11,491,305,532 7,626,512,721
11 Other IncomeMiscellaneous Revenue 101,860,400 108,687,749 89,669,539 107,013,380 Hiring Income 4,258,960 69,147,581 4,258,960 69,147,581 Reimbursable costs 107,819,931 97,889,584 103,730,202 97,889,584 Sundry Income 43,656,270 15,775,256 43,656,270 15,775,256 Exchange loss on fixed deposits (263,795) - (263,795) -
257,331,766 291,500,170 241,051,176 289,825,801
12 Net Finance Income
Finance IncomeInterest Income 201,368,165 114,975,754 199,625,758 114,939,272
201,368,165 114,975,754 199,625,758 114,939,272 Finance Cost Interest Expenses (24,343,420) (15,444,710) (20,123,026) (14,609,857)
(24,343,420) (15,444,710) (20,123,026) (14,609,857)
Net Finance Income 177,024,745 99,531,044 179,502,732 100,329,415
13 Staff Cost
Salaries & Allowance 551,389,054 339,597,126 549,977,054 338,476,404 EPF 66,039,607 40,617,180 65,997,247 40,617,180 ETF 16,668,752 10,154,295 16,499,312 10,154,295 Incentives & Other Allowances 124,196,766 154,284,339 124,196,766 154,284,339 Bonus 16,083,223 11,703,224 16,083,223 11,703,224 Sick leave encashment 26,633,690 17,672,674 20,030,914 17,338,248
801,011,092 574,028,838 792,784,516 572,573,690
CENTRAL ENGINEERING CONSULTANCY BUREAUNOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
GROUP CECB
17
Page | 23
CENTRAL ENGINEERING CONSULTANCY BUREAUNOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31ST DECEMBER
2012 2011 2012 2011Rs. Rs. Rs. Rs.
14 Income Tax14.1 Current Tax Expense (Note 14.2) 259,871,110 138,242,418 254,002,864 136,134,363
Deferred Tax Provision 15,033 61,355 Adjustment for Prior Years 31,791,200 25,770,935 31,791,200 25,770,935
291,677,343 164,074,708 285,794,064 161,905,298
14.2 Reconciliation of Accounting Profit to Taxable ProfitAccounting Profit before Income Tax Expense 558,669,027 308,031,139 544,892,540 308,031,139 Aggregate Disallowed Items 478,211,906 153,947,576 435,290,369 153,947,576 Aggregate Allowable Items 197,493,732 139,535,084 172,961,541 293,682,799
Total Statutory Income 679,772,285 441,390,009 654,330,215 441,390,009 Exempted Income - Taxable Income 679,772,285 441,390,009 654,330,215 441,390,009
Tax on Construction Income @ 12% 47,719,522 35,646,655 46,989,034 35,113,840 Tax on Other Income @ 28% 78,709,138 27,217,255 73,571,380 25,642,015 Dividend Tax 133,442,450 75,378,508 133,442,450 75,378,508 Current Income Tax Expenses 259,871,110 138,242,418 254,002,864 136,134,363
GROUP CECB
18
Page | 24
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471)
(3,5
85,6
36)
(126
,976
)
-
(44,
508,
850)
B
alan
ce a
s at
31s
t Dec
embe
r 201
2-
70,9
81,7
88
8,26
1,25
8
43,9
85,2
87
9,52
4,61
3
51,0
60,5
49
3,24
2,81
2
24,1
59,5
86
149,
244,
570
40
1,99
9
-
360,
862,
464
Net
Boo
k Va
lue
Bal
ance
as
at 1
st J
anua
ry 2
011
1,68
9,23
6,86
7
31
7,79
0,90
8
23
,046
,448
48,9
00,0
60
20,5
29,6
15
65
,375
,969
3,
697,
641
34
,427
,560
11
7,28
4,59
6
1,19
5,42
5
40
,339
,693
2,
361,
824,
781
Bal
ance
as
at 3
1st D
ecem
ber 2
011
1,68
9,23
6,86
7
38
1,73
1,86
0
25
,382
,062
63,1
64,3
88
22,0
04,0
14
67
,555
,085
3,
806,
708
46
,797
,420
19
7,58
2,14
2
1,22
3,01
3
14
4,68
5,27
8
2,
643,
168,
837
Bal
ance
as
at 3
1st D
ecem
ber 2
012
1,70
1,73
6,86
7
47
8,20
6,73
0
31
,936
,422
94,2
13,4
40
27,0
32,6
43
15
3,43
8,55
3
8,
878,
084
47
,982
,339
20
2,40
5,31
0
1,31
2,92
3
28
2,17
8,77
6
3,
029,
322,
086
Tota
l
19
Page | 25
CEN
TRAL
ENG
INEE
RIN
G C
ON
SULT
ANC
Y B
UR
EAU
NO
TES
TO T
HE
FIN
ANC
IAL
STAT
EMEN
TS (C
ON
TIN
UED
)FO
R T
HE
YEAR
EN
DED
31S
T D
ECEM
BER
201
2
15PR
OPE
RTY
PLA
NT
AND
EQ
UIP
MEN
T15
.1G
RO
UP
Land
Bui
ldin
gsFu
rnitu
re &
Fi
tting
sC
onst
ruct
ion
Inst
rum
ent &
Eq
uipm
ent
Offi
ce
Equi
pmen
tPl
ant &
M
achi
nery
Con
tain
ers
Com
pute
rsM
otor
Veh
icle
sLi
brar
y B
ooks
Cap
ital W
ork
In P
rogr
ess
Rs.
R
s.R
s.R
s.R
s.R
s.R
s.R
s.R
s.R
s.R
s.R
s.C
ost
Bal
ance
as
at 1
st J
anua
ry 2
011
1,68
9,23
6,86
7
31
7,77
7,55
3
28
,227
,806
64,2
82,4
69
25
,307
,127
66,2
46,6
15
3,
611,
919
43,5
54,7
14
11
7,01
2,70
5
1,
212,
441
40,3
39,6
93
2,
396,
809,
909
A
dditi
ons
/ Tra
sfer
s du
ring
the
year
-
66
,398
,945
6,
454,
033
29,6
85,9
89
9,
173,
722
23,6
00,8
11
1,
408,
170
26,6
42,9
06
17
7,24
6,34
1
36
7,99
0
144,
685,
278
485,
664,
184
Dis
posa
ls /
Tras
fers
dur
ing
the
year
-
-
(1
39,2
18)
(6
79,7
90)
(506
,522
)
(353
,788
)
-
(377
,786
)
(4
,191
,785
)
(33,
671)
(4
0,33
9,69
3)
(4
6,62
2,25
4)
B
alan
ce a
s at
31s
t Dec
embe
r 201
11,
689,
236,
867
412,
386,
979
34,6
54,6
47
94
,176
,898
33,4
95,1
40
88
,529
,795
5,02
0,08
9
69
,832
,690
286,
647,
818
1,54
6,75
9
14
4,68
5,27
8
2,
860,
212,
961
Bal
ance
as
at 1
st J
anua
ry 2
012
1,68
9,23
6,86
7
41
2,38
6,97
9
34
,654
,647
94,1
76,8
98
33
,495
,140
88,5
29,7
95
5,
020,
089
69,8
32,6
90
28
6,64
7,81
8
1,
546,
759
144,
685,
278
2,86
0,21
2,96
1
Addi
tions
dur
ing
the
year
12,5
00,0
00
16
6,93
5,14
2
15
,901
,134
74,4
10,3
57
13
,065
,097
140,
043,
921
7,61
5,18
5
18
,761
,186
252,
638,
649
456,
925
13
7,49
3,49
9
83
9,82
1,09
5
D
ispo
sals
/ W
rite
off
durin
g th
e ye
ar-
-
(8,6
42,5
44)
(22,
348,
530)
(7,8
53,1
82)
(1,9
17,5
76)
(3
47,7
13)
(1
3,75
1,46
1)
(4
,658
,975
)
(288
,762
)
-
(59,
808,
743)
Bal
ance
as
at 3
1st D
ecem
ber 2
012
1,70
1,73
6,86
7
57
9,32
2,12
1
41
,913
,238
146,
238,
725
38,7
07,0
54
22
6,65
6,14
1
12
,287
,562
74,8
42,4
15
53
4,62
7,49
1
1,
714,
922
282,
178,
776
3,64
0,22
5,31
2
Accu
mul
ated
Dep
reci
atio
n
Bal
ance
as
at 1
st J
anua
ry 2
011
-
(1
3,35
5)
5,18
1,35
8
15
,382
,409
4,77
7,51
3
87
0,64
6
(8
5,72
1)
9,
127,
154
(2
71,8
92)
17,0
15
-
34
,985
,128
Cha
rge
for t
he y
ear
-
30
,655
,118
3,
342,
388
15,7
26,4
17
6,
060,
376
18,5
59,9
48
1,
046,
021
13,9
18,3
39
70
,047
,326
306,
731
-
15
9,66
2,66
4
D
ispo
sals
dur
ing
the
year
-
-
(2
5,09
6)
(7
2,20
3)
(2
59,7
89)
(9
7,88
8)
-
(84,
892)
(1,1
87,2
01)
-
-
(1,7
27,0
70)
B
alan
ce a
s at
31s
t Dec
embe
r 201
1-
30,6
55,1
19
8,66
4,15
1
30
,982
,640
10,8
34,2
01
19
,493
,413
1,21
3,38
1
22
,189
,910
71,6
42,1
22
32
3,74
6
-
195,
998,
683
Bal
ance
as
at 1
st J
anua
ry 2
012
-
30
,655
,119
8,
664,
151
30,9
82,6
40
10
,834
,201
19,4
93,4
13
1,
213,
381
22,1
89,9
10
71
,642
,122
323,
746
-
19
5,99
8,68
3
C
harg
e fo
r the
yea
r-
42,5
86,6
89
5,52
6,16
0
29
,247
,871
5,76
3,31
6
37
,229
,571
2,41
0,47
8
15
,238
,585
132,
740,
337
205,
229
-
27
0,94
8,23
6
D
ispo
sals
dur
ing
the
year
-
-
(5
,627
,687
)
(1
4,79
1,59
6)
(6
,651
,070
)
(8
60,7
02)
(347
,713
)
(12,
517,
471)
(3,5
85,6
36)
(1
26,9
76)
-
(4
4,50
8,85
0)
B
alan
ce a
s at
31s
t Dec
embe
r 201
2-
73,2
41,8
08
8,56
2,62
4
45
,438
,915
9,94
6,44
8
55
,862
,282
3,27
6,14
6
24
,911
,024
200,
796,
824
401,
999
-
42
2,43
8,06
9
Net
Boo
k Va
lue
Bal
ance
as
at 1
st J
anua
ry 2
011
1,68
9,23
6,86
7
31
7,79
0,90
8
23
,046
,448
48,9
00,0
60
20
,529
,615
65,3
75,9
69
3,
697,
641
34,4
27,5
60
11
7,28
4,59
6
1,
195,
425
40,3
39,6
93
2,
361,
824,
781
Bal
ance
as
at 3
1st D
ecem
ber 2
011
1,68
9,23
6,86
7
38
1,73
1,86
0
25
,990
,496
63,1
94,2
58
22
,660
,939
69,0
36,3
83
3,
806,
708
47,6
42,7
80
21
5,00
5,69
5
1,
223,
013
144,
685,
278
2,66
4,21
4,27
7
Bal
ance
as
at 3
1st D
ecem
ber 2
012
1,70
1,73
6,86
7
50
6,08
0,31
3
33
,350
,614
100,
799,
810
28,7
60,6
07
17
0,79
3,85
9
9,
011,
416
49,9
31,3
91
33
3,83
0,66
7
1,
312,
923
282,
178,
776
3,21
7,78
7,24
4
Tota
l
20
Page | 26
CEN
TRAL
ENG
INEE
RIN
G C
ON
SULT
ANC
Y B
UR
EAU
NO
TES
TO T
HE
FIN
ANC
IAL
STAT
EMEN
TS (C
ON
TIN
UED
)FO
R T
HE
YEAR
EN
DED
31S
T D
ECEM
BER
201
2
15PR
OPE
RTY
PLA
NT
AND
EQ
UIP
MEN
T15
.1G
RO
UP
Land
Bui
ldin
gsFu
rnitu
re &
Fi
tting
sC
onst
ruct
ion
Inst
rum
ent &
Eq
uipm
ent
Offi
ce
Equi
pmen
tPl
ant &
M
achi
nery
Con
tain
ers
Com
pute
rsM
otor
Veh
icle
sLi
brar
y B
ooks
Cap
ital W
ork
In P
rogr
ess
Rs.
R
s.R
s.R
s.R
s.R
s.R
s.R
s.R
s.R
s.R
s.R
s.C
ost
Bal
ance
as
at 1
st J
anua
ry 2
011
1,68
9,23
6,86
7
31
7,77
7,55
3
28
,227
,806
64,2
82,4
69
25
,307
,127
66,2
46,6
15
3,
611,
919
43,5
54,7
14
11
7,01
2,70
5
1,
212,
441
40,3
39,6
93
2,
396,
809,
909
A
dditi
ons
/ Tra
sfer
s du
ring
the
year
-
66
,398
,945
6,
454,
033
29,6
85,9
89
9,
173,
722
23,6
00,8
11
1,
408,
170
26,6
42,9
06
17
7,24
6,34
1
36
7,99
0
144,
685,
278
485,
664,
184
Dis
posa
ls /
Tras
fers
dur
ing
the
year
-
-
(1
39,2
18)
(6
79,7
90)
(506
,522
)
(353
,788
)
-
(377
,786
)
(4
,191
,785
)
(33,
671)
(4
0,33
9,69
3)
(4
6,62
2,25
4)
B
alan
ce a
s at
31s
t Dec
embe
r 201
11,
689,
236,
867
412,
386,
979
34,6
54,6
47
94
,176
,898
33,4
95,1
40
88
,529
,795
5,02
0,08
9
69
,832
,690
286,
647,
818
1,54
6,75
9
14
4,68
5,27
8
2,
860,
212,
961
Bal
ance
as
at 1
st J
anua
ry 2
012
1,68
9,23
6,86
7
41
2,38
6,97
9
34
,654
,647
94,1
76,8
98
33
,495
,140
88,5
29,7
95
5,
020,
089
69,8
32,6
90
28
6,64
7,81
8
1,
546,
759
144,
685,
278
2,86
0,21
2,96
1
Addi
tions
dur
ing
the
year
12,5
00,0
00
16
6,93
5,14
2
15
,901
,134
74,4
10,3
57
13
,065
,097
140,
043,
921
7,61
5,18
5
18
,761
,186
252,
638,
649
456,
925
13
7,49
3,49
9
83
9,82
1,09
5
D
ispo
sals
/ W
rite
off
durin
g th
e ye
ar-
-
(8,6
42,5
44)
(22,
348,
530)
(7,8
53,1
82)
(1,9
17,5
76)
(3
47,7
13)
(1
3,75
1,46
1)
(4
,658
,975
)
(288
,762
)
-
(59,
808,
743)
Bal
ance
as
at 3
1st D
ecem
ber 2
012
1,70
1,73
6,86
7
57
9,32
2,12
1
41
,913
,238
146,
238,
725
38,7
07,0
54
22
6,65
6,14
1
12
,287
,562
74,8
42,4
15
53
4,62
7,49
1
1,
714,
922
282,
178,
776
3,64
0,22
5,31
2
Accu
mul
ated
Dep
reci
atio
n
Bal
ance
as
at 1
st J
anua
ry 2
011
-
(1
3,35
5)
5,18
1,35
8
15
,382
,409
4,77
7,51
3
87
0,64
6
(8
5,72
1)
9,
127,
154
(2
71,8
92)
17,0
15
-
34
,985
,128
Cha
rge
for t
he y
ear
-
30
,655
,118
3,
342,
388
15,7
26,4
17
6,
060,
376
18,5
59,9
48
1,
046,
021
13,9
18,3
39
70
,047
,326
306,
731
-
15
9,66
2,66
4
D
ispo
sals
dur
ing
the
year
-
-
(2
5,09
6)
(7
2,20
3)
(2
59,7
89)
(9
7,88
8)
-
(84,
892)
(1,1
87,2
01)
-
-
(1,7
27,0
70)
B
alan
ce a
s at
31s
t Dec
embe
r 201
1-
30,6
55,1
19
8,66
4,15
1
30
,982
,640
10,8
34,2
01
19
,493
,413
1,21
3,38
1
22
,189
,910
71,6
42,1
22
32
3,74
6
-
195,
998,
683
Bal
ance
as
at 1
st J
anua
ry 2
012
-
30
,655
,119
8,
664,
151
30,9
82,6
40
10
,834
,201
19,4
93,4
13
1,
213,
381
22,1
89,9
10
71
,642
,122
323,
746
-
19
5,99
8,68
3
C
harg
e fo
r the
yea
r-
42,5
86,6
89
5,52
6,16
0
29
,247
,871
5,76
3,31
6
37
,229
,571
2,41
0,47
8
15
,238
,585
132,
740,
337
205,
229
-
27
0,94
8,23
6
D
ispo
sals
dur
ing
the
year
-
-
(5
,627
,687
)
(1
4,79
1,59
6)
(6
,651
,070
)
(8
60,7
02)
(347
,713
)
(12,
517,
471)
(3,5
85,6
36)
(1
26,9
76)
-
(4
4,50
8,85
0)
B
alan
ce a
s at
31s
t Dec
embe
r 201
2-
73,2
41,8
08
8,56
2,62
4
45
,438
,915
9,94
6,44
8
55
,862
,282
3,27
6,14
6
24
,911
,024
200,
796,
824
401,
999
-
42
2,43
8,06
9
Net
Boo
k Va
lue
Bal
ance
as
at 1
st J
anua
ry 2
011
1,68
9,23
6,86
7
31
7,79
0,90
8
23
,046
,448
48,9
00,0
60
20
,529
,615
65,3
75,9
69
3,
697,
641
34,4
27,5
60
11
7,28
4,59
6
1,
195,
425
40,3
39,6
93
2,
361,
824,
781
Bal
ance
as
at 3
1st D
ecem
ber 2
011
1,68
9,23
6,86
7
38
1,73
1,86
0
25
,990
,496
63,1
94,2
58
22
,660
,939
69,0
36,3
83
3,
806,
708
47,6
42,7
80
21
5,00
5,69
5
1,
223,
013
144,
685,
278
2,66
4,21
4,27
7
Bal
ance
as
at 3
1st D
ecem
ber 2
012
1,70
1,73
6,86
7
50
6,08
0,31
3
33
,350
,614
100,
799,
810
28,7
60,6
07
17
0,79
3,85
9
9,
011,
416
49,9
31,3
91
33
3,83
0,66
7
1,
312,
923
282,
178,
776
3,21
7,78
7,24
4
Tota
l
20
CENTRAL ENGINEERING CONSULTANCY BUREAUNOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31ST DECEMBER
2012 2011 2010 2012 2011 2010Rs. Rs. Rs. Rs. Rs. Rs.
15 Property, Plant and Equipment
15.3
16 InvestmentsLong term investment (Note 16.1) 68,114,301 64,456,627 69,796,710 68,114,321 64,456,647 69,796,710 Short term investment (Note 16.2) 1,572,852,406 1,707,593,967 1,491,086,629 1,572,852,406 1,707,593,967 1,491,086,629
1,640,966,707 1,772,050,594 1,560,883,339 1,640,966,727 1,772,050,614 1,560,883,339
16.1 Long term investmentLoans and receivable financial assets
Investment in Fixed Deposit 66,114,301 62,456,627 67,796,710 66,114,301 62,456,627 67,796,710 Available for sale financial assets
Mark Marine Services (Pvt) Ltd 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 68,114,301 64,456,627 69,796,710 68,114,301 64,456,627 69,796,710
Investment in subsidiary (Unquoted)Central Engineering Services (Private) Limited - - - 20 20 -
- - - 20 20 - 68,114,301 64,456,627 69,796,710 68,114,321 64,456,647 69,796,710
16.2 Short term investmentRepo - - - - - - Short term investments 1,572,852,406 1,707,593,967 1,491,086,629 1,572,852,406 1,707,593,967 1,491,086,629
1,572,852,406 1,707,593,967 1,491,086,629 1,572,852,406 1,707,593,967 1,491,086,629
17 InventoriesInventories 94,197,005 - - - - - Work in Progress (Note 17.1) 573,086,285 278,209,888 230,776,561 473,612,890 277,233,388 230,776,561
667,283,290 278,209,888 230,776,561 473,612,890 277,233,388 230,776,561
17.1 Work in Progress represent the Construction contracts in progress as at the balance sheet date, which include all material at site
18 Trade and Other ReceivablesTrade Receivables (Note 18.1) 9,436,707,824 7,630,245,860 2,388,663,371 7,354,474,092 5,336,788,535 2,388,663,371 Other Receivables (Note 18.2) 98,103,575 66,978,346 72,577,907 93,019,352 66,031,571 72,577,907 Deposits, Prepayments and Advances (Note 18.3)1,210,156,739 1,579,976,019 88,460,828 1,123,989,881 1,505,383,448 88,460,828
10,744,968,138 9,277,200,225 2,549,702,106 8,571,483,325 6,908,203,554 2,549,702,106
18.1 Trade ReceivablesDebtors 6,465,036,910 5,718,366,340 1,784,231,927 5,147,088,090 3,963,965,025 1,784,231,927 Due from customers 2,032,777,542 1,445,184,876 381,780,583 1,357,100,354 906,128,867 381,780,583 Retention receivables 1,524,454,179 913,569,758 604,029,564 1,435,846,455 913,569,757 604,029,564 - - - Less - Provision for Impairment (Note 18.1.1)(585,560,807) (446,875,114) (381,378,703) (585,560,807) (446,875,114) (381,378,703)
9,436,707,824 7,630,245,860 2,388,663,371 7,354,474,092 5,336,788,535 2,388,663,371
18.1.1 Provision for ImpairmentDebtors 585,560,807 446,875,114 381,378,703 585,560,807 446,875,114 381,378,703
585,560,807 446,875,114 381,378,703 585,560,807 446,875,114 381,378,703
18.1.1 Provision for ImpairmentBalance at the beginning 446,875,114 381,378,703 313,601,119 446,875,114 381,378,703 313,601,119 Impairment loss recognised 287,756,144 84,396,410 90,763,691 287,756,144 84,396,410 90,763,691 Amounts written off against debtor (114,543,106) (18,861,564) - (114,543,106) (18,861,564) - Reversal of provision (34,527,346) (38,435) (22,986,107) (34,527,346) (38,435) (22,986,107) Balance at the end 585,560,807 446,875,114 381,378,703 585,560,807 446,875,114 381,378,703
18.2 Other Receivables Staff Loans 46,866,413 46,108,431 17,055,878 46,366,413 46,108,431 17,055,878 Prepaid Staff Cost 6,560,208 4,916,157 4,054,549 6,560,208 4,916,157 4,054,549 General Suspense (320,414) 1,774,849 6,002,695 - 1,774,849 6,002,695 Sundry Debtors 42,241,359 14,099,779 45,464,785 37,943,045 13,232,134 45,464,785 WHT Receivable 2,756,009 79,130 - 2,149,686 - -
98,103,575 66,978,346 72,577,907 93,019,352 66,031,571 72,577,907
As per the exemption given in SLFRS 1, the Group measured items of property, plant, and equipment at the date of transition to SLFRS at its fair value andused the fair value as its deemed cost at that date. For this purpose, the Land, Building and Motor vehicle of the Company had been revalued at Rs2,213,974,614./- by Shiral I De Silva D.I.V. and D.I.A (Sri Lanka), an independent professional valuer for the assets held as at 31st December 2010. Thesurplus arising from the revaluation amounting to Rs.1,960,817,886/- was transferred to retained earnings. The valuation has been conducted on the basisof estimated market value as at 31st December 2010. However the other assets was taken to books at the written down value as at 31st December 2010 asdeem cost.
GROUP CECB
21
Page | 27
Page | 28
CEN
TRAL
EN
GIN
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ING
CO
NSU
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BU
REA
UN
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S TO
TH
E FI
NAN
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(CO
NTI
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FOR
TH
E YE
AR E
ND
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1ST
DEC
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012
26C
omm
itmen
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nd c
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GR
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and
Con
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as a
t the
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dat
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for t
he fo
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26.1
Com
mitm
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26.2
Con
tinge
ncie
sLe
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ase
filed
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inst
the
Com
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Cas
e N
oC
ase
Des
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Des
crip
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Pres
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tatu
s
1448
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ase
CEC
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.C.M
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artin
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still
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MR
/ 874
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H.D
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ot b
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Dam
ages
, D.C
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.C
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Rs.
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stat
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ator
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.CEC
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stru
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172
m H
igh
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avil
IGTL
Solu
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mite
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TL)
Vs.
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TLSo
lutio
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nka
has
clai
med
Rs.
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23.0
0fo
rth
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crea
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pain
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acco
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red
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s st
ill pe
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1024
8/A
Mr.
HAD
CD
ilruk
(Cla
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gEP
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laim
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The
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s st
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Mr.
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Cla
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tin
year
2012
asa
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nom
inal
val
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om C
ECB
durin
g 20
13.
23
Page | 29
CEN
TRA
L EN
GIN
EER
ING
CO
NSU
LTA
NC
Y B
UR
EAU
NO
TES
TO T
HE
FIN
AN
CIA
L ST
ATE
MEN
TS (C
ON
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)
FOR
TH
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DED
31S
T D
ECEM
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201
2
27Fi
nanc
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isk m
anag
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has e
xpos
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to th
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llow
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risk
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om fi
nanc
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nstru
men
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edit
risk
Liqu
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risk
Mar
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isk
Risk
man
agem
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ram
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k
27 CEN
TRA
L EN
GIN
EER
ING
CO
NSU
LTA
NC
Y B
UR
EAU
NO
TES
TO T
HE
FIN
AN
CIA
L ST
ATE
MEN
TS (C
ON
TIN
UED
)FO
R T
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YEA
R E
ND
ED 3
1ST
DEC
EMB
ER 2
012
27Fi
nanc
ial r
isk m
anag
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t (co
ntin
ued)
27
2012
2011
2010
2012
2011
2010
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Inve
stmen
t in
Fixe
d D
epos
it (L
ong
term
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,114
,301
62
,456
,627
67
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66
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67
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stmen
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Fixe
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epos
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hort
term
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572,
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406
1,70
7,59
3,96
7
1,49
1,08
6,62
9
1,57
2,85
2,40
6
1,70
7,59
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7
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9
In
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n Sh
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Inve
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subs
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-
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20
20
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Tr
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Cash
and
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h Eq
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1
615,
208,
770
327,
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660
464,
311,
326
528,
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653
327,
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12,9
20,6
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16
11,6
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5
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1,82
1
4,43
8,37
8,10
5
2,38
8,66
3,37
1
-
2012
2011
2010
2012
2011
2010
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Bath
thar
amul
la(1
15,6
79,6
51.7
8)
51
2,13
4,69
5
532,
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244
137,
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20
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tern
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CEN
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L EN
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CO
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UR
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ATE
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FOR
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Fina
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cont
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GR
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ross
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-
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-
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-
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4
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ears
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58
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ance
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7
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-
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-
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5
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ears
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504
-
35
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-
11
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ears
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08
-
95,2
48,7
50
-
04
& A
bove
559,
744,
515
(5
85,5
60,8
07)
332,
860,
483
(446
,875
,114
)
12
5,42
6,02
0
(3
81,3
78,7
03)
7,
354,
474,
092
(585
,560
,807
)
5,
336,
788,
535
(4
46,8
75,1
14)
2,38
8,66
3,37
1
(381
,378
,703
)
2012
2011
2010
2012
2011
2010
Indi
vidu
al im
pair
men
tR
s.Rs
.Rs
.R
s.Rs
.Rs
.Ba
lanc
e at
the
begi
nnin
g44
6,87
5,11
4
381,
378,
703
313,
601,
119
446,
875,
114
381,
378,
703
313,
601,
119
Im
pairm
ent l
oss r
ecog
nise
d28
7,75
6,14
4
84,3
96,4
10
90,7
63,6
91
287,
756,
144
84,3
96,4
10
90,7
63,6
91
Re
vers
al o
f Im
pairm
ent
(34,
527,
346)
(3
8,43
5)
(22,
986,
107)
(34,
527,
346)
(3
8,43
5)
(22,
986,
107)
A
mou
nts w
ritte
n of
f(1
14,5
43,1
06)
(18,
861,
564)
-
(1
14,5
43,1
06)
(18,
861,
564)
-
B
alan
ce a
t the
end
585,
560,
807
44
6,87
5,11
4
38
1,37
8,70
3
58
5,56
0,80
7
44
6,87
5,11
4
38
1,37
8,70
3
CEN
TRA
L EN
GIN
EER
ING
CO
NSU
LTA
NC
Y B
UR
EAU
NO
TES
TO T
HE
FIN
AN
CIA
L ST
ATE
MEN
TS (C
ON
TIN
UED
)
FOR
TH
E Y
EAR
EN
DED
31S
T D
ECEM
BER
201
2
27Fi
nanc
ial r
isk m
anag
emen
t (co
ntin
ued)
27C
ash
and
cash
equ
ival
ents
27Li
quid
ity r
isk
GR
OU
PA
s at 3
1st D
ecem
ber
2012
Non
-der
ivat
ive
finan
cial
liab
ilitie
sTr
ade
and
othe
r pay
able
s12
,331
,787
,072
12,3
31,7
87,0
72
12,3
31,7
87,0
72
-
-
-
-
A
mou
nts d
ue to
rela
ted
com
pani
es15
9,57
9,94
1
15
9,57
9,94
1
159,
579,
941
-
-
-
-
Le
ase
cred
itors
72,1
10,4
45
72
,110
,445
32
,655
,555
16
,561
,931
11
,597
,965
11
,294
,993
-
Bank
ove
rdra
ft-
-
-
-
-
-
-
12
,563
,477
,458
12,5
63,4
77,4
58
12,5
24,0
22,5
68
16,5
61,9
31
11,5
97,9
65
11,2
94,9
93
-
CEC
BA
s at 3
1st D
ecem
ber
2012
Non
-der
ivat
ive
finan
cial
liab
ilitie
sTr
ade
and
othe
r pay
able
s10
,022
,553
,967
10,0
22,5
53,9
67
10,0
22,5
53,9
67
-
-
-
-
A
mou
nts d
ue to
rela
ted
com
pani
es(9
7,64
6,80
8)
(9
7,64
6,80
8)
(97,
646,
808)
-
-
-
-
Leas
e cr
edito
rs30
,364
,400
30,3
64,4
00
18,7
40,2
07
6,12
5,42
0
3,24
8,75
6
2,
250,
017
-
Bank
ove
rdra
ft-
-
-
-
-
-
-
9,95
5,27
1,55
9
9,95
5,27
1,55
9
9,
943,
647,
366
6,
125,
420
3,
248,
756
2,25
0,01
7
-
CEN
TRA
L EN
GIN
EER
ING
CO
NSU
LTA
NC
Y B
UR
EAU
NO
TES
TO T
HE
FIN
AN
CIA
L ST
ATE
MEN
TS (C
ON
TIN
UED
)
FOR
TH
E Y
EAR
EN
DED
31S
T D
ECEM
BER
201
227
Fina
ncia
l risk
man
agem
ent (
cont
inue
d)
27M
arke
t risk
27In
tere
st r
ate
risk
2012
2011
2010
2012
2011
2010
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Fixe
d ra
te in
stru
men
tsFi
nanc
ial A
sset
s - L
ong
term
fixe
d de
posit
66,1
14,3
01
62,4
56,6
27
67,7
96,7
10
66,1
14,3
01
62,4
56,6
27
67,7
96,7
10
Fi
nanc
ial A
sset
s - S
hort
term
fixe
d de
posit
1,57
2,85
2,40
6
1,
707,
593,
967
1,
491,
086,
629
1,
572,
852,
406
1,
707,
593,
967
1,
491,
086,
629
1,63
8,96
6,70
7
1,
770,
050,
594
1,
558,
883,
339
1,
638,
966,
707
1,
770,
050,
594
1,
558,
883,
339
28C
apita
l man
agem
ent
01) t
o sa
fegu
arde
d th
e G
roup
abi
lity
to c
ontin
ue a
s a g
oing
con
cern
, so
that
it c
an c
ontin
ue to
pro
vide
retu
rns f
or sh
areh
olde
rs a
nd b
enef
its fo
r oth
er st
akeh
olde
rs
02) t
o pr
ovid
e an
ade
quat
e re
turn
to sh
areh
olde
rs b
y pr
icin
g pr
oduc
ts co
mm
ensu
rate
ly w
ith th
e le
vel o
f risk
; and
The
Gro
up’s
net
deb
t to
adju
sted
equi
ty ra
tio a
t the
repo
rting
dat
e w
as a
s fol
low
s.
2012
2011
2010
2012
2011
2010
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Tota
l lia
bilit
ies
13,1
81,1
35,7
96
11,3
45,8
66,9
77
3,93
6,72
1,55
7
10,5
64,8
77,2
08
8,87
0,33
5,97
1
3,93
6,72
1,55
7
Le
ss: c
ash
and
cash
equ
ival
ents
(534
,761
,471
)
(6
15,2
08,7
70)
(327
,792
,660
)
(464
,311
,326
)
(5
28,7
77,6
53)
(327
,792
,660
)
Net
deb
t12
,646
,374
,325
10
,730
,658
,207
3,
608,
928,
897
10
,100
,565
,882
8,
341,
558,
318
3,
608,
928,
897
Tota
l equ
ity3,
624,
631,
054
3,26
1,01
6,77
7
3,09
4,25
7,89
0
3,61
4,81
9,14
6
3,25
9,09
8,07
5
3,09
4,25
7,89
0
A
djus
ted
equi
ty3,
624,
631,
054
3,26
1,01
6,77
7
3,09
4,25
7,89
0
3,61
4,81
9,14
6
3,25
9,09
8,07
5
3,09
4,25
7,89
0
Net
deb
t to
adju
sted
equi
ty ra
tio a
t 31s
t Dec
embe
r3.
49
3.29
1.
17
2.
79
3
1.
17
Cre
dit r
isk (c
ontin
ued)
The
Gro
up's
expo
sure
tocr
edit
risk
isin
fluen
ced
mai
nly
byth
ein
divi
dual
char
acte
ristic
sofe
ach
custo
mer
.How
ever
,man
agem
enta
lsoco
nsid
erst
hede
mog
raph
icso
fthe
Gro
up’s
custo
mer
base
,ast
hese
fact
orsm
ayha
ve a
n in
fluen
ce o
n cr
edit
risk.
Dur
ing
2012
the
maj
ority
of t
he G
roup
’s re
venu
e w
as a
ttrib
utab
le to
sale
s tra
nsac
tions
with
Uva
, Ce
ntra
l and
Nor
th C
entra
l pro
vinc
ial g
eogr
aphi
cal r
egio
ns .
The
Gro
up h
eld
cash
and
cas
h eq
uiva
lent
s of R
s. 53
4,76
1,47
1 at
31s
t Dec
embe
r 201
2 (2
011:
Rs.
565,
852,
867)
, whi
ch re
pres
ents
its m
axim
um c
redi
t exp
osur
e on
thes
e as
sets.
The
cas
h an
d ca
sh e
quiv
alen
ts ar
e he
ld
with
ban
k an
d fin
anci
al in
stitu
tion
coun
terp
artie
s.
GR
OU
P
CEC
B
GR
OU
PC
ECB
Impa
irm
ent l
osse
sTh
e ag
ing
of tr
ade
debt
ors a
t the
repo
rting
dat
e th
at w
ere
not i
mpa
ired
was
as f
ollo
ws.
Cre
dit r
isk (c
ontin
ued)
The
note
pres
ents
info
rmat
ion
abou
tthe
Gro
up's
expo
sure
toea
chof
the
abov
eris
ks,t
heG
roup
'sris
km
anag
emen
tobj
ectiv
es,p
olic
iesa
ndpr
oces
sesf
orm
easu
ring
and
man
agin
gris
k,an
dth
eG
roup
'sm
anag
emen
tof
capi
tal.
The
Boar
dof
Dire
ctor
sha
sov
eral
lre
spon
sibili
tyfo
rth
ees
tabl
ishm
enta
ndov
ersig
htof
the
Gro
up’s
risk
man
agem
ent
fram
ewor
k.Th
eBo
ard
has
esta
blish
edth
eA
udit
and
Man
agem
entC
omm
ittee
,whi
chis
resp
onsib
le fo
r dev
elop
ing
and
mon
itorin
g th
e G
roup
’s ri
sk m
anag
emen
t pol
icie
s. Th
e co
mm
ittee
repo
rts re
gula
rly to
the
Boar
d of
Dire
ctor
s on
its a
ctiv
ities
.
The
Gro
up’s
risk
man
agem
entp
olic
iesa
rees
tabl
ished
toid
entif
yan
dan
alys
eth
eris
ksfa
ced
byth
eG
roup
,to
seta
ppro
pria
teris
klim
itsan
dco
ntro
ls,an
dto
mon
itorr
isksa
ndad
here
nce
tolim
its.R
iskm
anag
emen
tpo
licie
sand
syste
msa
rere
view
edre
gula
rlyto
refle
ctch
ange
sin
mar
ketc
ondi
tions
and
the
Gro
up’s
activ
ities
.The
Gro
up,t
hrou
ghits
train
ing
and
man
agem
ents
tand
ards
and
proc
edur
es,a
imst
ode
velo
pa
disc
iplin
edan
d co
nstru
ctiv
e co
ntro
l env
ironm
ent i
n w
hich
all
empl
oyee
s und
ersta
nd th
eir r
oles
and
obl
igat
ions
.
The
Aud
itan
dM
anag
emen
tCom
mitt
eeov
erse
esho
wm
anag
emen
tmon
itors
com
plia
nce
with
the
Gro
up’s
risk
man
agem
entp
olic
iesa
ndpr
oced
ures
,and
revi
ewst
head
equa
cyof
the
risk
man
agem
entf
ram
ewor
kin
rela
tion
toth
eris
ksfa
ced
byth
eG
roup
.The
Aud
itan
dM
anag
emen
tCom
mitt
eeis
assis
ted
inits
over
sight
role
byIn
tern
alA
udit.
Inte
rnal
Aud
itun
derta
kes
both
regu
lar
and
adho
cre
view
sofr
iskm
anag
emen
tco
ntro
ls an
d pr
oced
ures
, the
resu
lts o
f whi
ch a
re re
porte
d to
the
Aud
it an
d M
anag
emen
t Com
mitt
ee.
Cred
itris
kis
the
risk
offin
anci
allo
ssto
the
Gro
upif
acu
stom
eror
coun
terp
arty
toa
finan
cial
instr
umen
tfai
lsto
mee
tits
cont
ract
ualo
blig
atio
ns,a
ndar
isesp
rinci
pally
from
the
Gro
up’s
rece
ivab
lesf
rom
custo
mer
san
d in
vestm
ent s
ecur
ities
.
Cre
dit r
isk
Liqu
idity
risk
is th
e ris
k th
at th
e G
roup
will
enc
ount
er d
iffic
ulty
in m
eetin
g th
e ob
ligat
ions
ass
ocia
ted
with
its f
inan
cial
liab
ilitie
s tha
t are
settl
ed b
y de
liver
ing
cash
or a
noth
er fi
nanc
ial a
sset
. The
Gro
up’s
app
roac
h to
The
follo
win
g ar
e th
e co
ntra
ctua
l mat
uriti
es o
f fin
anci
al li
abili
ties,
incl
udin
g es
timat
ed in
tere
st pa
ymen
ts an
d ex
clud
ing
the
impa
ct o
f net
ting
agre
emen
ts.
Expo
sure
to c
redi
t risk
00-0
1 Y
ear
01-0
2 Y
ears
02-0
3 Y
ears
03-
04 Y
ears
M
ore
than
4
year
s
CEC
B
Cre
dit r
isk (c
ontin
ued)
The
carr
ying
am
ount
of f
inan
cial
ass
ets r
epre
sent
s the
max
imum
cre
dit e
xpos
ure.
The
max
imum
exp
osur
e to
cre
dit r
isk a
t the
repo
rting
dat
e w
as a
s fol
low
s
The
max
imum
exp
osur
e to
cre
dit r
isk fo
r loa
ns a
nd re
ceiv
able
s at r
epor
ting
date
by
geog
raph
ic re
gion
was
: 00-0
1 Y
ear
01-0
2 Y
ears
02-0
3 Y
ears
Car
ryin
g am
ount
Con
trac
tual
cas
h flo
ws
Mar
ket r
isk is
the
risk
that
cha
nges
in m
arke
t pric
es, s
uch
as in
tere
st ra
tes a
nd e
quity
pric
es w
ill a
ffect
the
Gro
up’s
inco
me
or th
e va
lue
of it
s hol
ding
s of f
inan
cial
instr
umen
ts. T
he o
bjec
tive
of m
arke
t risk
m
anag
emen
t is t
o m
anag
e an
d co
ntro
l mar
ket r
isk e
xpos
ures
with
in a
ccep
tabl
e pa
ram
eter
s, w
hile
opt
imisi
ng th
e re
turn
.
GR
OU
P
Furth
er, t
he B
oard
seek
s to
mai
ntai
n a
bala
nce
betw
een
high
er ta
rget
ed re
turn
s tha
t mig
ht b
e po
ssib
le w
ith h
ighe
r lev
el o
f bor
row
ing,
and
the
adva
ntag
es a
nd se
curit
y af
ford
ed b
y th
e str
ong
capi
tal p
ositi
on o
f the
gr
oup.
Gro
upC
ompa
ny
At t
he re
porti
ng d
ate
the
inte
rest
rate
pro
file
of th
e gr
oup's
inte
rest
- bea
ring
finan
cial
instr
umen
ts w
as:
Gro
upC
ompa
ny
The
Boar
d’s p
olic
y is
to m
aint
ain
a str
ong
capi
tal b
ase
so a
s to
mai
ntai
n in
vesto
r, cr
edito
r and
mar
ket c
onfid
ence
and
to su
stain
futu
re d
evel
opm
ent o
f the
bus
ines
s. Ca
pita
l con
sists
of o
rdin
ary
shar
es, r
etai
ned
earn
ings
and
non
-con
trolli
ng in
tere
sts o
f the
Gro
up. T
he B
oard
of D
irect
ors m
onito
rs th
e re
turn
on
capi
tal a
s wel
l as t
he le
vel o
f div
iden
ds to
ord
inar
y sh
areh
olde
rs.
The
Gro
up's
mai
n ob
ject
ive
is w
hen
man
agin
g ca
pita
l are
:
03-
04 Y
ears
M
ore
than
4 y
ears
The
gros
s inf
low
s/(ou
tflow
s) d
isclo
sed
in th
e pr
evio
us ta
ble
repr
esen
t the
con
tract
ual u
ndisc
ount
ed c
ash
flow
s rel
atin
g to
fina
ncia
l lia
bilit
ies h
eld
for r
isk m
anag
emen
t pur
pose
s and
whi
ch a
re u
sual
ly n
ot c
lose
d ou
t pr
ior t
o co
ntra
ctua
l mat
urity
.
Carr
ying
am
ount
Cont
ract
ual c
ash
flow
s
24
Page | 30
CEN
TRA
L EN
GIN
EER
ING
CO
NSU
LTA
NC
Y B
UR
EAU
NO
TES
TO T
HE
FIN
AN
CIA
L ST
ATE
MEN
TS (C
ON
TIN
UED
)
FOR
TH
E Y
EAR
EN
DED
31S
T D
ECEM
BER
201
2
27Fi
nanc
ial r
isk m
anag
emen
tov
ervi
ewTh
e gr
oup
has e
xpos
ure
to th
e fo
llow
ing
risk
arisi
ng fr
om fi
nanc
ial i
nstru
men
tsCr
edit
risk
Liqu
idity
risk
Mar
ket r
isk
Risk
man
agem
ent F
ram
ewor
k
27 CEN
TRA
L EN
GIN
EER
ING
CO
NSU
LTA
NC
Y B
UR
EAU
NO
TES
TO T
HE
FIN
AN
CIA
L ST
ATE
MEN
TS (C
ON
TIN
UED
)FO
R T
HE
YEA
R E
ND
ED 3
1ST
DEC
EMB
ER 2
012
27Fi
nanc
ial r
isk m
anag
emen
t (co
ntin
ued)
27
2012
2011
2010
2012
2011
2010
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Inve
stmen
t in
Fixe
d D
epos
it (L
ong
term
)66
,114
,301
62
,456
,627
67
,796
,710
66
,114
,301
62
,456
,627
67
,796
,710
Inve
stmen
t in
Fixe
d D
epos
it (S
hort
term
)1,
572,
852,
406
1,70
7,59
3,96
7
1,49
1,08
6,62
9
1,57
2,85
2,40
6
1,70
7,59
3,96
7
1,49
1,08
6,62
9
In
vestm
ent i
n Sh
ares
2,00
0,00
0
2,
000,
000
2,00
0,00
0
2,00
0,00
0
2,
000,
000
2,
000,
000
Inve
stmen
t in
subs
idia
ry (U
nquo
ted)
-
-
-
20
20
-
Tr
ade
and
Oth
er R
ecei
vabl
es10
,744
,968
,138
9,
277,
200,
225
2,
549,
702,
106
8,
571,
483,
325
6,
908,
203,
554
2,
549,
702,
106
Cash
and
Cas
h Eq
uiva
lent
s53
4,76
1,47
1
615,
208,
770
327,
792,
660
464,
311,
326
528,
777,
653
327,
792,
660
12,9
20,6
96,3
16
11,6
64,4
59,5
89
4,43
8,37
8,10
5
10,6
76,7
61,3
78
9,20
9,03
1,82
1
4,43
8,37
8,10
5
2,38
8,66
3,37
1
-
2012
2011
2010
2012
2011
2010
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Bath
thar
amul
la(1
15,6
79,6
51.7
8)
51
2,13
4,69
5
532,
061,
244
137,
110,
747
396,
455,
043
404,
646,
948
137,
110,
747
M
ahar
agam
a12
7,41
4,29
5.83
259,
066,
494
20
9,78
1,10
2
43
,744
,667
14
3,38
6,84
2
82
,366
,806
43
,744
,667
Gam
paha
314,
678,
135
38
4,32
8,83
0
10
5,13
6,85
1
19
8,99
8,48
3
25
6,91
4,53
5
10
5,13
6,85
1
Jaw
atht
ha14
8,51
7,84
9.08
472,
993,
879
50
5,26
1,70
5
90
,987
,322
35
7,31
4,22
7
25
0,43
3,11
4
90
,987
,322
Am
para
84
,280
,424
.21
66
8,32
2,78
3
731,
985,
534
219,
120,
376
552,
643,
131
477,
156,
943
219,
120,
376
M
onar
agal
a5,
959,
539.
33
1,57
0,64
5,74
0
-
-
1,
454,
966,
088
-
-
Uva
875,
467,
540
1,
505,
329,
690
58
5,36
2,63
8
75
9,78
7,88
8
1,
250,
501,
098
58
5,36
2,63
8
Saba
raga
muw
a35
5,17
4,07
0
319,
616,
319
135,
890,
853
239,
494,
418
192,
202,
024
135,
890,
853
So
uthe
rn37
7,65
3,33
9
479,
569,
036
187,
960,
973
261,
973,
687
352,
154,
740
187,
960,
973
Ce
ntra
l1,
186,
998,
086
833,
195,
778
293,
589,
962
1,07
1,31
8,43
4
705,
781,
482
293,
589,
962
N
orth
Cen
tral
1,06
4,06
9,51
0
85
0,84
0,48
6
72
,439
,512
83
2,71
0,20
7
72
3,42
6,19
0
72
,439
,512
Kan
thal
e29
6,82
2,10
9
-
-
181,
142,
457
-
-
Ja
ffna
260,
951,
971
41
,261
,679
-
14
5,27
2,31
9
41
,261
,679
-
Kat
ubed
dha
285,
101,
035
32
1,65
3,14
4
10
8,83
2,93
3
16
9,42
1,38
3
19
4,23
8,84
8
10
8,83
2,93
3
Dig
ana
28,3
06,6
58
12,4
39,6
33
13,6
84,8
82
28,3
06,6
58
12,4
39,6
33
13,6
84,8
82
Co
nsul
tanc
y46
4,70
4,04
8
513,
261,
123
249,
046,
376
349,
024,
396
258,
432,
532
249,
046,
376
In
tern
atio
nal
179,
701,
617
18
7,38
7,56
2
79
,014
,644
64
,021
,965
59
,973
,267
79
,014
,644
Hea
d O
ffice
263,
916,
119
20
2,27
2,99
5
66
,740
,634
14
8,23
6,46
7
74
,858
,699
66
,740
,634
9,43
6,70
7,82
4
7,
630,
245,
860
2,
388,
663,
371
7,
354,
474,
092
5,
336,
788,
535
2,
388,
663,
371
CEN
TRA
L EN
GIN
EER
ING
CO
NSU
LTA
NC
Y B
UR
EAU
NO
TES
TO T
HE
FIN
AN
CIA
L ST
ATE
MEN
TS (C
ON
TIN
UED
)
FOR
TH
E Y
EAR
EN
DED
31S
T D
ECEM
BER
201
227
Fina
ncia
l risk
man
agem
ent (
cont
inue
d)27
GR
OU
PG
ross
Impa
irm
ent
Gro
ssIm
pair
men
t G
ross
Im
pair
men
t20
1220
1220
1120
1120
1020
10R
s.R
s.R
s.R
s.R
s.R
s.Cu
rren
t bal
ance
(no
due)
00-0
1 Y
ear
7,70
0,51
2,71
9
-
6,
951,
842,
058
-
1,
811,
317,
592
-
01-0
2 Y
ears
998,
816,
300
-
26
2,00
1,74
5
-
24
1,05
0,65
5
-
02-0
3 Y
ears
141,
407,
504
-
35
,237
,565
-
11
5,62
0,35
4
-
03-0
4 Y
ears
36,2
26,7
87
-
48,3
04,0
08
-
95,2
48,7
50
-
04
& A
bove
559,
744,
515
58
5,56
0,80
7
33
2,86
0,48
3
(4
46,8
75,1
14)
125,
426,
020
(381
,378
,703
)
9,43
6,70
7,82
4
58
5,56
0,80
7
7,
630,
245,
860
(4
46,8
75,1
14)
2,38
8,66
3,37
1
(381
,378
,703
)
CEC
B G
ross
Im
pair
men
t G
ross
Im
pair
men
t G
ross
Im
pair
men
t 20
1220
1220
1120
1120
1020
10R
s.R
s.R
s.R
s.R
s.R
s.Cu
rren
t bal
ance
(no
due)
00-0
1 Y
ear
5,61
8,27
8,98
7
-
4,
658,
384,
733
-
1,
811,
317,
592
-
01-0
2 Y
ears
998,
816,
300
-
26
2,00
1,74
5
-
24
1,05
0,65
5
-
02-0
3 Y
ears
141,
407,
504
-
35
,237
,565
-
11
5,62
0,35
4
-
03-0
4 Y
ears
36,2
26,7
87
-
48,3
04,0
08
-
95,2
48,7
50
-
04
& A
bove
559,
744,
515
(5
85,5
60,8
07)
332,
860,
483
(446
,875
,114
)
12
5,42
6,02
0
(3
81,3
78,7
03)
7,
354,
474,
092
(585
,560
,807
)
5,
336,
788,
535
(4
46,8
75,1
14)
2,38
8,66
3,37
1
(381
,378
,703
)
2012
2011
2010
2012
2011
2010
Indi
vidu
al im
pair
men
tR
s.Rs
.Rs
.R
s.Rs
.Rs
.Ba
lanc
e at
the
begi
nnin
g44
6,87
5,11
4
381,
378,
703
313,
601,
119
446,
875,
114
381,
378,
703
313,
601,
119
Im
pairm
ent l
oss r
ecog
nise
d28
7,75
6,14
4
84,3
96,4
10
90,7
63,6
91
287,
756,
144
84,3
96,4
10
90,7
63,6
91
Re
vers
al o
f Im
pairm
ent
(34,
527,
346)
(3
8,43
5)
(22,
986,
107)
(34,
527,
346)
(3
8,43
5)
(22,
986,
107)
A
mou
nts w
ritte
n of
f(1
14,5
43,1
06)
(18,
861,
564)
-
(1
14,5
43,1
06)
(18,
861,
564)
-
B
alan
ce a
t the
end
585,
560,
807
44
6,87
5,11
4
38
1,37
8,70
3
58
5,56
0,80
7
44
6,87
5,11
4
38
1,37
8,70
3
CEN
TRA
L EN
GIN
EER
ING
CO
NSU
LTA
NC
Y B
UR
EAU
NO
TES
TO T
HE
FIN
AN
CIA
L ST
ATE
MEN
TS (C
ON
TIN
UED
)
FOR
TH
E Y
EAR
EN
DED
31S
T D
ECEM
BER
201
2
27Fi
nanc
ial r
isk m
anag
emen
t (co
ntin
ued)
27C
ash
and
cash
equ
ival
ents
27Li
quid
ity r
isk
GR
OU
PA
s at 3
1st D
ecem
ber
2012
Non
-der
ivat
ive
finan
cial
liab
ilitie
sTr
ade
and
othe
r pay
able
s12
,331
,787
,072
12,3
31,7
87,0
72
12,3
31,7
87,0
72
-
-
-
-
A
mou
nts d
ue to
rela
ted
com
pani
es15
9,57
9,94
1
15
9,57
9,94
1
159,
579,
941
-
-
-
-
Le
ase
cred
itors
72,1
10,4
45
72
,110
,445
32
,655
,555
16
,561
,931
11
,597
,965
11
,294
,993
-
Bank
ove
rdra
ft-
-
-
-
-
-
-
12
,563
,477
,458
12,5
63,4
77,4
58
12,5
24,0
22,5
68
16,5
61,9
31
11,5
97,9
65
11,2
94,9
93
-
CEC
BA
s at 3
1st D
ecem
ber
2012
Non
-der
ivat
ive
finan
cial
liab
ilitie
sTr
ade
and
othe
r pay
able
s10
,022
,553
,967
10,0
22,5
53,9
67
10,0
22,5
53,9
67
-
-
-
-
A
mou
nts d
ue to
rela
ted
com
pani
es(9
7,64
6,80
8)
(9
7,64
6,80
8)
(97,
646,
808)
-
-
-
-
Leas
e cr
edito
rs30
,364
,400
30,3
64,4
00
18,7
40,2
07
6,12
5,42
0
3,24
8,75
6
2,
250,
017
-
Bank
ove
rdra
ft-
-
-
-
-
-
-
9,95
5,27
1,55
9
9,95
5,27
1,55
9
9,
943,
647,
366
6,
125,
420
3,
248,
756
2,25
0,01
7
-
CEN
TRA
L EN
GIN
EER
ING
CO
NSU
LTA
NC
Y B
UR
EAU
NO
TES
TO T
HE
FIN
AN
CIA
L ST
ATE
MEN
TS (C
ON
TIN
UED
)
FOR
TH
E Y
EAR
EN
DED
31S
T D
ECEM
BER
201
227
Fina
ncia
l risk
man
agem
ent (
cont
inue
d)
27M
arke
t risk
27In
tere
st r
ate
risk
2012
2011
2010
2012
2011
2010
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Fixe
d ra
te in
stru
men
tsFi
nanc
ial A
sset
s - L
ong
term
fixe
d de
posit
66,1
14,3
01
62,4
56,6
27
67,7
96,7
10
66,1
14,3
01
62,4
56,6
27
67,7
96,7
10
Fi
nanc
ial A
sset
s - S
hort
term
fixe
d de
posit
1,57
2,85
2,40
6
1,
707,
593,
967
1,
491,
086,
629
1,
572,
852,
406
1,
707,
593,
967
1,
491,
086,
629
1,63
8,96
6,70
7
1,
770,
050,
594
1,
558,
883,
339
1,
638,
966,
707
1,
770,
050,
594
1,
558,
883,
339
28C
apita
l man
agem
ent
01) t
o sa
fegu
arde
d th
e G
roup
abi
lity
to c
ontin
ue a
s a g
oing
con
cern
, so
that
it c
an c
ontin
ue to
pro
vide
retu
rns f
or sh
areh
olde
rs a
nd b
enef
its fo
r oth
er st
akeh
olde
rs
02) t
o pr
ovid
e an
ade
quat
e re
turn
to sh
areh
olde
rs b
y pr
icin
g pr
oduc
ts co
mm
ensu
rate
ly w
ith th
e le
vel o
f risk
; and
The
Gro
up’s
net
deb
t to
adju
sted
equi
ty ra
tio a
t the
repo
rting
dat
e w
as a
s fol
low
s.
2012
2011
2010
2012
2011
2010
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Tota
l lia
bilit
ies
13,1
81,1
35,7
96
11,3
45,8
66,9
77
3,93
6,72
1,55
7
10,5
64,8
77,2
08
8,87
0,33
5,97
1
3,93
6,72
1,55
7
Le
ss: c
ash
and
cash
equ
ival
ents
(534
,761
,471
)
(6
15,2
08,7
70)
(327
,792
,660
)
(464
,311
,326
)
(5
28,7
77,6
53)
(327
,792
,660
)
Net
deb
t12
,646
,374
,325
10
,730
,658
,207
3,
608,
928,
897
10
,100
,565
,882
8,
341,
558,
318
3,
608,
928,
897
Tota
l equ
ity3,
624,
631,
054
3,26
1,01
6,77
7
3,09
4,25
7,89
0
3,61
4,81
9,14
6
3,25
9,09
8,07
5
3,09
4,25
7,89
0
A
djus
ted
equi
ty3,
624,
631,
054
3,26
1,01
6,77
7
3,09
4,25
7,89
0
3,61
4,81
9,14
6
3,25
9,09
8,07
5
3,09
4,25
7,89
0
Net
deb
t to
adju
sted
equi
ty ra
tio a
t 31s
t Dec
embe
r3.
49
3.29
1.
17
2.
79
3
1.
17
Cre
dit r
isk (c
ontin
ued)
The
Gro
up's
expo
sure
tocr
edit
risk
isin
fluen
ced
mai
nly
byth
ein
divi
dual
char
acte
ristic
sofe
ach
custo
mer
.How
ever
,man
agem
enta
lsoco
nsid
erst
hede
mog
raph
icso
fthe
Gro
up’s
custo
mer
base
,ast
hese
fact
orsm
ayha
ve a
n in
fluen
ce o
n cr
edit
risk.
Dur
ing
2012
the
maj
ority
of t
he G
roup
’s re
venu
e w
as a
ttrib
utab
le to
sale
s tra
nsac
tions
with
Uva
, Ce
ntra
l and
Nor
th C
entra
l pro
vinc
ial g
eogr
aphi
cal r
egio
ns .
The
Gro
up h
eld
cash
and
cas
h eq
uiva
lent
s of R
s. 53
4,76
1,47
1 at
31s
t Dec
embe
r 201
2 (2
011:
Rs.
565,
852,
867)
, whi
ch re
pres
ents
its m
axim
um c
redi
t exp
osur
e on
thes
e as
sets.
The
cas
h an
d ca
sh e
quiv
alen
ts ar
e he
ld
with
ban
k an
d fin
anci
al in
stitu
tion
coun
terp
artie
s.
GR
OU
P
CEC
B
GR
OU
PC
ECB
Impa
irm
ent l
osse
sTh
e ag
ing
of tr
ade
debt
ors a
t the
repo
rting
dat
e th
at w
ere
not i
mpa
ired
was
as f
ollo
ws.
Cre
dit r
isk (c
ontin
ued)
The
note
pres
ents
info
rmat
ion
abou
tthe
Gro
up's
expo
sure
toea
chof
the
abov
eris
ks,t
heG
roup
'sris
km
anag
emen
tobj
ectiv
es,p
olic
iesa
ndpr
oces
sesf
orm
easu
ring
and
man
agin
gris
k,an
dth
eG
roup
'sm
anag
emen
tof
capi
tal.
The
Boar
dof
Dire
ctor
sha
sov
eral
lre
spon
sibili
tyfo
rth
ees
tabl
ishm
enta
ndov
ersig
htof
the
Gro
up’s
risk
man
agem
ent
fram
ewor
k.Th
eBo
ard
has
esta
blish
edth
eA
udit
and
Man
agem
entC
omm
ittee
,whi
chis
resp
onsib
le fo
r dev
elop
ing
and
mon
itorin
g th
e G
roup
’s ri
sk m
anag
emen
t pol
icie
s. Th
e co
mm
ittee
repo
rts re
gula
rly to
the
Boar
d of
Dire
ctor
s on
its a
ctiv
ities
.
The
Gro
up’s
risk
man
agem
entp
olic
iesa
rees
tabl
ished
toid
entif
yan
dan
alys
eth
eris
ksfa
ced
byth
eG
roup
,to
seta
ppro
pria
teris
klim
itsan
dco
ntro
ls,an
dto
mon
itorr
isksa
ndad
here
nce
tolim
its.R
iskm
anag
emen
tpo
licie
sand
syste
msa
rere
view
edre
gula
rlyto
refle
ctch
ange
sin
mar
ketc
ondi
tions
and
the
Gro
up’s
activ
ities
.The
Gro
up,t
hrou
ghits
train
ing
and
man
agem
ents
tand
ards
and
proc
edur
es,a
imst
ode
velo
pa
disc
iplin
edan
d co
nstru
ctiv
e co
ntro
l env
ironm
ent i
n w
hich
all
empl
oyee
s und
ersta
nd th
eir r
oles
and
obl
igat
ions
.
The
Aud
itan
dM
anag
emen
tCom
mitt
eeov
erse
esho
wm
anag
emen
tmon
itors
com
plia
nce
with
the
Gro
up’s
risk
man
agem
entp
olic
iesa
ndpr
oced
ures
,and
revi
ewst
head
equa
cyof
the
risk
man
agem
entf
ram
ewor
kin
rela
tion
toth
eris
ksfa
ced
byth
eG
roup
.The
Aud
itan
dM
anag
emen
tCom
mitt
eeis
assis
ted
inits
over
sight
role
byIn
tern
alA
udit.
Inte
rnal
Aud
itun
derta
kes
both
regu
lar
and
adho
cre
view
sofr
iskm
anag
emen
tco
ntro
ls an
d pr
oced
ures
, the
resu
lts o
f whi
ch a
re re
porte
d to
the
Aud
it an
d M
anag
emen
t Com
mitt
ee.
Cred
itris
kis
the
risk
offin
anci
allo
ssto
the
Gro
upif
acu
stom
eror
coun
terp
arty
toa
finan
cial
instr
umen
tfai
lsto
mee
tits
cont
ract
ualo
blig
atio
ns,a
ndar
isesp
rinci
pally
from
the
Gro
up’s
rece
ivab
lesf
rom
custo
mer
san
d in
vestm
ent s
ecur
ities
.
Cre
dit r
isk
Liqu
idity
risk
is th
e ris
k th
at th
e G
roup
will
enc
ount
er d
iffic
ulty
in m
eetin
g th
e ob
ligat
ions
ass
ocia
ted
with
its f
inan
cial
liab
ilitie
s tha
t are
settl
ed b
y de
liver
ing
cash
or a
noth
er fi
nanc
ial a
sset
. The
Gro
up’s
app
roac
h to
The
follo
win
g ar
e th
e co
ntra
ctua
l mat
uriti
es o
f fin
anci
al li
abili
ties,
incl
udin
g es
timat
ed in
tere
st pa
ymen
ts an
d ex
clud
ing
the
impa
ct o
f net
ting
agre
emen
ts.
Expo
sure
to c
redi
t risk
00-0
1 Y
ear
01-0
2 Y
ears
02-0
3 Y
ears
03-
04 Y
ears
M
ore
than
4
year
s
CEC
B
Cre
dit r
isk (c
ontin
ued)
The
carr
ying
am
ount
of f
inan
cial
ass
ets r
epre
sent
s the
max
imum
cre
dit e
xpos
ure.
The
max
imum
exp
osur
e to
cre
dit r
isk a
t the
repo
rting
dat
e w
as a
s fol
low
s
The
max
imum
exp
osur
e to
cre
dit r
isk fo
r loa
ns a
nd re
ceiv
able
s at r
epor
ting
date
by
geog
raph
ic re
gion
was
: 00-0
1 Y
ear
01-0
2 Y
ears
02-0
3 Y
ears
Car
ryin
g am
ount
Con
trac
tual
cas
h flo
ws
Mar
ket r
isk is
the
risk
that
cha
nges
in m
arke
t pric
es, s
uch
as in
tere
st ra
tes a
nd e
quity
pric
es w
ill a
ffect
the
Gro
up’s
inco
me
or th
e va
lue
of it
s hol
ding
s of f
inan
cial
instr
umen
ts. T
he o
bjec
tive
of m
arke
t risk
m
anag
emen
t is t
o m
anag
e an
d co
ntro
l mar
ket r
isk e
xpos
ures
with
in a
ccep
tabl
e pa
ram
eter
s, w
hile
opt
imisi
ng th
e re
turn
.
GR
OU
P
Furth
er, t
he B
oard
seek
s to
mai
ntai
n a
bala
nce
betw
een
high
er ta
rget
ed re
turn
s tha
t mig
ht b
e po
ssib
le w
ith h
ighe
r lev
el o
f bor
row
ing,
and
the
adva
ntag
es a
nd se
curit
y af
ford
ed b
y th
e str
ong
capi
tal p
ositi
on o
f the
gr
oup.
Gro
upC
ompa
ny
At t
he re
porti
ng d
ate
the
inte
rest
rate
pro
file
of th
e gr
oup's
inte
rest
- bea
ring
finan
cial
instr
umen
ts w
as:
Gro
upC
ompa
ny
The
Boar
d’s p
olic
y is
to m
aint
ain
a str
ong
capi
tal b
ase
so a
s to
mai
ntai
n in
vesto
r, cr
edito
r and
mar
ket c
onfid
ence
and
to su
stain
futu
re d
evel
opm
ent o
f the
bus
ines
s. Ca
pita
l con
sists
of o
rdin
ary
shar
es, r
etai
ned
earn
ings
and
non
-con
trolli
ng in
tere
sts o
f the
Gro
up. T
he B
oard
of D
irect
ors m
onito
rs th
e re
turn
on
capi
tal a
s wel
l as t
he le
vel o
f div
iden
ds to
ord
inar
y sh
areh
olde
rs.
The
Gro
up's
mai
n ob
ject
ive
is w
hen
man
agin
g ca
pita
l are
:
03-
04 Y
ears
M
ore
than
4 y
ears
The
gros
s inf
low
s/(ou
tflow
s) d
isclo
sed
in th
e pr
evio
us ta
ble
repr
esen
t the
con
tract
ual u
ndisc
ount
ed c
ash
flow
s rel
atin
g to
fina
ncia
l lia
bilit
ies h
eld
for r
isk m
anag
emen
t pur
pose
s and
whi
ch a
re u
sual
ly n
ot c
lose
d ou
t pr
ior t
o co
ntra
ctua
l mat
urity
.
Carr
ying
am
ount
Cont
ract
ual c
ash
flow
s
24
Page | 31
CEN
TRA
L EN
GIN
EER
ING
CO
NSU
LTA
NC
Y B
UR
EAU
NO
TES
TO T
HE
FIN
AN
CIA
L ST
ATE
MEN
TS (C
ON
TIN
UED
)
FOR
TH
E Y
EAR
EN
DED
31S
T D
ECEM
BER
201
2
27Fi
nanc
ial r
isk m
anag
emen
tov
ervi
ewTh
e gr
oup
has e
xpos
ure
to th
e fo
llow
ing
risk
arisi
ng fr
om fi
nanc
ial i
nstru
men
tsCr
edit
risk
Liqu
idity
risk
Mar
ket r
isk
Risk
man
agem
ent F
ram
ewor
k
27 CEN
TRA
L EN
GIN
EER
ING
CO
NSU
LTA
NC
Y B
UR
EAU
NO
TES
TO T
HE
FIN
AN
CIA
L ST
ATE
MEN
TS (C
ON
TIN
UED
)FO
R T
HE
YEA
R E
ND
ED 3
1ST
DEC
EMB
ER 2
012
27Fi
nanc
ial r
isk m
anag
emen
t (co
ntin
ued)
27
2012
2011
2010
2012
2011
2010
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Inve
stmen
t in
Fixe
d D
epos
it (L
ong
term
)66
,114
,301
62
,456
,627
67
,796
,710
66
,114
,301
62
,456
,627
67
,796
,710
Inve
stmen
t in
Fixe
d D
epos
it (S
hort
term
)1,
572,
852,
406
1,70
7,59
3,96
7
1,49
1,08
6,62
9
1,57
2,85
2,40
6
1,70
7,59
3,96
7
1,49
1,08
6,62
9
In
vestm
ent i
n Sh
ares
2,00
0,00
0
2,
000,
000
2,00
0,00
0
2,00
0,00
0
2,
000,
000
2,
000,
000
Inve
stmen
t in
subs
idia
ry (U
nquo
ted)
-
-
-
20
20
-
Tr
ade
and
Oth
er R
ecei
vabl
es10
,744
,968
,138
9,
277,
200,
225
2,
549,
702,
106
8,
571,
483,
325
6,
908,
203,
554
2,
549,
702,
106
Cash
and
Cas
h Eq
uiva
lent
s53
4,76
1,47
1
615,
208,
770
327,
792,
660
464,
311,
326
528,
777,
653
327,
792,
660
12,9
20,6
96,3
16
11,6
64,4
59,5
89
4,43
8,37
8,10
5
10,6
76,7
61,3
78
9,20
9,03
1,82
1
4,43
8,37
8,10
5
2,38
8,66
3,37
1
-
2012
2011
2010
2012
2011
2010
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Bath
thar
amul
la(1
15,6
79,6
51.7
8)
51
2,13
4,69
5
532,
061,
244
137,
110,
747
396,
455,
043
404,
646,
948
137,
110,
747
M
ahar
agam
a12
7,41
4,29
5.83
259,
066,
494
20
9,78
1,10
2
43
,744
,667
14
3,38
6,84
2
82
,366
,806
43
,744
,667
Gam
paha
314,
678,
135
38
4,32
8,83
0
10
5,13
6,85
1
19
8,99
8,48
3
25
6,91
4,53
5
10
5,13
6,85
1
Jaw
atht
ha14
8,51
7,84
9.08
472,
993,
879
50
5,26
1,70
5
90
,987
,322
35
7,31
4,22
7
25
0,43
3,11
4
90
,987
,322
Am
para
84
,280
,424
.21
66
8,32
2,78
3
731,
985,
534
219,
120,
376
552,
643,
131
477,
156,
943
219,
120,
376
M
onar
agal
a5,
959,
539.
33
1,57
0,64
5,74
0
-
-
1,
454,
966,
088
-
-
Uva
875,
467,
540
1,
505,
329,
690
58
5,36
2,63
8
75
9,78
7,88
8
1,
250,
501,
098
58
5,36
2,63
8
Saba
raga
muw
a35
5,17
4,07
0
319,
616,
319
135,
890,
853
239,
494,
418
192,
202,
024
135,
890,
853
So
uthe
rn37
7,65
3,33
9
479,
569,
036
187,
960,
973
261,
973,
687
352,
154,
740
187,
960,
973
Ce
ntra
l1,
186,
998,
086
833,
195,
778
293,
589,
962
1,07
1,31
8,43
4
705,
781,
482
293,
589,
962
N
orth
Cen
tral
1,06
4,06
9,51
0
85
0,84
0,48
6
72
,439
,512
83
2,71
0,20
7
72
3,42
6,19
0
72
,439
,512
Kan
thal
e29
6,82
2,10
9
-
-
181,
142,
457
-
-
Ja
ffna
260,
951,
971
41
,261
,679
-
14
5,27
2,31
9
41
,261
,679
-
Kat
ubed
dha
285,
101,
035
32
1,65
3,14
4
10
8,83
2,93
3
16
9,42
1,38
3
19
4,23
8,84
8
10
8,83
2,93
3
Dig
ana
28,3
06,6
58
12,4
39,6
33
13,6
84,8
82
28,3
06,6
58
12,4
39,6
33
13,6
84,8
82
Co
nsul
tanc
y46
4,70
4,04
8
513,
261,
123
249,
046,
376
349,
024,
396
258,
432,
532
249,
046,
376
In
tern
atio
nal
179,
701,
617
18
7,38
7,56
2
79
,014
,644
64
,021
,965
59
,973
,267
79
,014
,644
Hea
d O
ffice
263,
916,
119
20
2,27
2,99
5
66
,740
,634
14
8,23
6,46
7
74
,858
,699
66
,740
,634
9,43
6,70
7,82
4
7,
630,
245,
860
2,
388,
663,
371
7,
354,
474,
092
5,
336,
788,
535
2,
388,
663,
371
CEN
TRA
L EN
GIN
EER
ING
CO
NSU
LTA
NC
Y B
UR
EAU
NO
TES
TO T
HE
FIN
AN
CIA
L ST
ATE
MEN
TS (C
ON
TIN
UED
)
FOR
TH
E Y
EAR
EN
DED
31S
T D
ECEM
BER
201
227
Fina
ncia
l risk
man
agem
ent (
cont
inue
d)27
GR
OU
PG
ross
Impa
irm
ent
Gro
ssIm
pair
men
t G
ross
Im
pair
men
t20
1220
1220
1120
1120
1020
10R
s.R
s.R
s.R
s.R
s.R
s.Cu
rren
t bal
ance
(no
due)
00-0
1 Y
ear
7,70
0,51
2,71
9
-
6,
951,
842,
058
-
1,
811,
317,
592
-
01-0
2 Y
ears
998,
816,
300
-
26
2,00
1,74
5
-
24
1,05
0,65
5
-
02-0
3 Y
ears
141,
407,
504
-
35
,237
,565
-
11
5,62
0,35
4
-
03-0
4 Y
ears
36,2
26,7
87
-
48,3
04,0
08
-
95,2
48,7
50
-
04
& A
bove
559,
744,
515
58
5,56
0,80
7
33
2,86
0,48
3
(4
46,8
75,1
14)
125,
426,
020
(381
,378
,703
)
9,43
6,70
7,82
4
58
5,56
0,80
7
7,
630,
245,
860
(4
46,8
75,1
14)
2,38
8,66
3,37
1
(381
,378
,703
)
CEC
B G
ross
Im
pair
men
t G
ross
Im
pair
men
t G
ross
Im
pair
men
t 20
1220
1220
1120
1120
1020
10R
s.R
s.R
s.R
s.R
s.R
s.Cu
rren
t bal
ance
(no
due)
00-0
1 Y
ear
5,61
8,27
8,98
7
-
4,
658,
384,
733
-
1,
811,
317,
592
-
01-0
2 Y
ears
998,
816,
300
-
26
2,00
1,74
5
-
24
1,05
0,65
5
-
02-0
3 Y
ears
141,
407,
504
-
35
,237
,565
-
11
5,62
0,35
4
-
03-0
4 Y
ears
36,2
26,7
87
-
48,3
04,0
08
-
95,2
48,7
50
-
04
& A
bove
559,
744,
515
(5
85,5
60,8
07)
332,
860,
483
(446
,875
,114
)
12
5,42
6,02
0
(3
81,3
78,7
03)
7,
354,
474,
092
(585
,560
,807
)
5,
336,
788,
535
(4
46,8
75,1
14)
2,38
8,66
3,37
1
(381
,378
,703
)
2012
2011
2010
2012
2011
2010
Indi
vidu
al im
pair
men
tR
s.Rs
.Rs
.R
s.Rs
.Rs
.Ba
lanc
e at
the
begi
nnin
g44
6,87
5,11
4
381,
378,
703
313,
601,
119
446,
875,
114
381,
378,
703
313,
601,
119
Im
pairm
ent l
oss r
ecog
nise
d28
7,75
6,14
4
84,3
96,4
10
90,7
63,6
91
287,
756,
144
84,3
96,4
10
90,7
63,6
91
Re
vers
al o
f Im
pairm
ent
(34,
527,
346)
(3
8,43
5)
(22,
986,
107)
(34,
527,
346)
(3
8,43
5)
(22,
986,
107)
A
mou
nts w
ritte
n of
f(1
14,5
43,1
06)
(18,
861,
564)
-
(1
14,5
43,1
06)
(18,
861,
564)
-
B
alan
ce a
t the
end
585,
560,
807
44
6,87
5,11
4
38
1,37
8,70
3
58
5,56
0,80
7
44
6,87
5,11
4
38
1,37
8,70
3
CEN
TRA
L EN
GIN
EER
ING
CO
NSU
LTA
NC
Y B
UR
EAU
NO
TES
TO T
HE
FIN
AN
CIA
L ST
ATE
MEN
TS (C
ON
TIN
UED
)
FOR
TH
E Y
EAR
EN
DED
31S
T D
ECEM
BER
201
2
27Fi
nanc
ial r
isk m
anag
emen
t (co
ntin
ued)
27C
ash
and
cash
equ
ival
ents
27Li
quid
ity r
isk
GR
OU
PA
s at 3
1st D
ecem
ber
2012
Non
-der
ivat
ive
finan
cial
liab
ilitie
sTr
ade
and
othe
r pay
able
s12
,331
,787
,072
12,3
31,7
87,0
72
12,3
31,7
87,0
72
-
-
-
-
A
mou
nts d
ue to
rela
ted
com
pani
es15
9,57
9,94
1
15
9,57
9,94
1
159,
579,
941
-
-
-
-
Le
ase
cred
itors
72,1
10,4
45
72
,110
,445
32
,655
,555
16
,561
,931
11
,597
,965
11
,294
,993
-
Bank
ove
rdra
ft-
-
-
-
-
-
-
12
,563
,477
,458
12,5
63,4
77,4
58
12,5
24,0
22,5
68
16,5
61,9
31
11,5
97,9
65
11,2
94,9
93
-
CEC
BA
s at 3
1st D
ecem
ber
2012
Non
-der
ivat
ive
finan
cial
liab
ilitie
sTr
ade
and
othe
r pay
able
s10
,022
,553
,967
10,0
22,5
53,9
67
10,0
22,5
53,9
67
-
-
-
-
A
mou
nts d
ue to
rela
ted
com
pani
es(9
7,64
6,80
8)
(9
7,64
6,80
8)
(97,
646,
808)
-
-
-
-
Leas
e cr
edito
rs30
,364
,400
30,3
64,4
00
18,7
40,2
07
6,12
5,42
0
3,24
8,75
6
2,
250,
017
-
Bank
ove
rdra
ft-
-
-
-
-
-
-
9,95
5,27
1,55
9
9,95
5,27
1,55
9
9,
943,
647,
366
6,
125,
420
3,
248,
756
2,25
0,01
7
-
CEN
TRA
L EN
GIN
EER
ING
CO
NSU
LTA
NC
Y B
UR
EAU
NO
TES
TO T
HE
FIN
AN
CIA
L ST
ATE
MEN
TS (C
ON
TIN
UED
)
FOR
TH
E Y
EAR
EN
DED
31S
T D
ECEM
BER
201
227
Fina
ncia
l risk
man
agem
ent (
cont
inue
d)
27M
arke
t risk
27In
tere
st r
ate
risk
2012
2011
2010
2012
2011
2010
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Fixe
d ra
te in
stru
men
tsFi
nanc
ial A
sset
s - L
ong
term
fixe
d de
posit
66,1
14,3
01
62,4
56,6
27
67,7
96,7
10
66,1
14,3
01
62,4
56,6
27
67,7
96,7
10
Fi
nanc
ial A
sset
s - S
hort
term
fixe
d de
posit
1,57
2,85
2,40
6
1,
707,
593,
967
1,
491,
086,
629
1,
572,
852,
406
1,
707,
593,
967
1,
491,
086,
629
1,63
8,96
6,70
7
1,
770,
050,
594
1,
558,
883,
339
1,
638,
966,
707
1,
770,
050,
594
1,
558,
883,
339
28C
apita
l man
agem
ent
01) t
o sa
fegu
arde
d th
e G
roup
abi
lity
to c
ontin
ue a
s a g
oing
con
cern
, so
that
it c
an c
ontin
ue to
pro
vide
retu
rns f
or sh
areh
olde
rs a
nd b
enef
its fo
r oth
er st
akeh
olde
rs
02) t
o pr
ovid
e an
ade
quat
e re
turn
to sh
areh
olde
rs b
y pr
icin
g pr
oduc
ts co
mm
ensu
rate
ly w
ith th
e le
vel o
f risk
; and
The
Gro
up’s
net
deb
t to
adju
sted
equi
ty ra
tio a
t the
repo
rting
dat
e w
as a
s fol
low
s.
2012
2011
2010
2012
2011
2010
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Tota
l lia
bilit
ies
13,1
81,1
35,7
96
11,3
45,8
66,9
77
3,93
6,72
1,55
7
10,5
64,8
77,2
08
8,87
0,33
5,97
1
3,93
6,72
1,55
7
Le
ss: c
ash
and
cash
equ
ival
ents
(534
,761
,471
)
(6
15,2
08,7
70)
(327
,792
,660
)
(464
,311
,326
)
(5
28,7
77,6
53)
(327
,792
,660
)
Net
deb
t12
,646
,374
,325
10
,730
,658
,207
3,
608,
928,
897
10
,100
,565
,882
8,
341,
558,
318
3,
608,
928,
897
Tota
l equ
ity3,
624,
631,
054
3,26
1,01
6,77
7
3,09
4,25
7,89
0
3,61
4,81
9,14
6
3,25
9,09
8,07
5
3,09
4,25
7,89
0
A
djus
ted
equi
ty3,
624,
631,
054
3,26
1,01
6,77
7
3,09
4,25
7,89
0
3,61
4,81
9,14
6
3,25
9,09
8,07
5
3,09
4,25
7,89
0
Net
deb
t to
adju
sted
equi
ty ra
tio a
t 31s
t Dec
embe
r3.
49
3.29
1.
17
2.
79
3
1.
17
Cre
dit r
isk (c
ontin
ued)
The
Gro
up's
expo
sure
tocr
edit
risk
isin
fluen
ced
mai
nly
byth
ein
divi
dual
char
acte
ristic
sofe
ach
custo
mer
.How
ever
,man
agem
enta
lsoco
nsid
erst
hede
mog
raph
icso
fthe
Gro
up’s
custo
mer
base
,ast
hese
fact
orsm
ayha
ve a
n in
fluen
ce o
n cr
edit
risk.
Dur
ing
2012
the
maj
ority
of t
he G
roup
’s re
venu
e w
as a
ttrib
utab
le to
sale
s tra
nsac
tions
with
Uva
, Ce
ntra
l and
Nor
th C
entra
l pro
vinc
ial g
eogr
aphi
cal r
egio
ns .
The
Gro
up h
eld
cash
and
cas
h eq
uiva
lent
s of R
s. 53
4,76
1,47
1 at
31s
t Dec
embe
r 201
2 (2
011:
Rs.
565,
852,
867)
, whi
ch re
pres
ents
its m
axim
um c
redi
t exp
osur
e on
thes
e as
sets.
The
cas
h an
d ca
sh e
quiv
alen
ts ar
e he
ld
with
ban
k an
d fin
anci
al in
stitu
tion
coun
terp
artie
s.
GR
OU
P
CEC
B
GR
OU
PC
ECB
Impa
irm
ent l
osse
sTh
e ag
ing
of tr
ade
debt
ors a
t the
repo
rting
dat
e th
at w
ere
not i
mpa
ired
was
as f
ollo
ws.
Cre
dit r
isk (c
ontin
ued)
The
note
pres
ents
info
rmat
ion
abou
tthe
Gro
up's
expo
sure
toea
chof
the
abov
eris
ks,t
heG
roup
'sris
km
anag
emen
tobj
ectiv
es,p
olic
iesa
ndpr
oces
sesf
orm
easu
ring
and
man
agin
gris
k,an
dth
eG
roup
'sm
anag
emen
tof
capi
tal.
The
Boar
dof
Dire
ctor
sha
sov
eral
lre
spon
sibili
tyfo
rth
ees
tabl
ishm
enta
ndov
ersig
htof
the
Gro
up’s
risk
man
agem
ent
fram
ewor
k.Th
eBo
ard
has
esta
blish
edth
eA
udit
and
Man
agem
entC
omm
ittee
,whi
chis
resp
onsib
le fo
r dev
elop
ing
and
mon
itorin
g th
e G
roup
’s ri
sk m
anag
emen
t pol
icie
s. Th
e co
mm
ittee
repo
rts re
gula
rly to
the
Boar
d of
Dire
ctor
s on
its a
ctiv
ities
.
The
Gro
up’s
risk
man
agem
entp
olic
iesa
rees
tabl
ished
toid
entif
yan
dan
alys
eth
eris
ksfa
ced
byth
eG
roup
,to
seta
ppro
pria
teris
klim
itsan
dco
ntro
ls,an
dto
mon
itorr
isksa
ndad
here
nce
tolim
its.R
iskm
anag
emen
tpo
licie
sand
syste
msa
rere
view
edre
gula
rlyto
refle
ctch
ange
sin
mar
ketc
ondi
tions
and
the
Gro
up’s
activ
ities
.The
Gro
up,t
hrou
ghits
train
ing
and
man
agem
ents
tand
ards
and
proc
edur
es,a
imst
ode
velo
pa
disc
iplin
edan
d co
nstru
ctiv
e co
ntro
l env
ironm
ent i
n w
hich
all
empl
oyee
s und
ersta
nd th
eir r
oles
and
obl
igat
ions
.
The
Aud
itan
dM
anag
emen
tCom
mitt
eeov
erse
esho
wm
anag
emen
tmon
itors
com
plia
nce
with
the
Gro
up’s
risk
man
agem
entp
olic
iesa
ndpr
oced
ures
,and
revi
ewst
head
equa
cyof
the
risk
man
agem
entf
ram
ewor
kin
rela
tion
toth
eris
ksfa
ced
byth
eG
roup
.The
Aud
itan
dM
anag
emen
tCom
mitt
eeis
assis
ted
inits
over
sight
role
byIn
tern
alA
udit.
Inte
rnal
Aud
itun
derta
kes
both
regu
lar
and
adho
cre
view
sofr
iskm
anag
emen
tco
ntro
ls an
d pr
oced
ures
, the
resu
lts o
f whi
ch a
re re
porte
d to
the
Aud
it an
d M
anag
emen
t Com
mitt
ee.
Cred
itris
kis
the
risk
offin
anci
allo
ssto
the
Gro
upif
acu
stom
eror
coun
terp
arty
toa
finan
cial
instr
umen
tfai
lsto
mee
tits
cont
ract
ualo
blig
atio
ns,a
ndar
isesp
rinci
pally
from
the
Gro
up’s
rece
ivab
lesf
rom
custo
mer
san
d in
vestm
ent s
ecur
ities
.
Cre
dit r
isk
Liqu
idity
risk
is th
e ris
k th
at th
e G
roup
will
enc
ount
er d
iffic
ulty
in m
eetin
g th
e ob
ligat
ions
ass
ocia
ted
with
its f
inan
cial
liab
ilitie
s tha
t are
settl
ed b
y de
liver
ing
cash
or a
noth
er fi
nanc
ial a
sset
. The
Gro
up’s
app
roac
h to
The
follo
win
g ar
e th
e co
ntra
ctua
l mat
uriti
es o
f fin
anci
al li
abili
ties,
incl
udin
g es
timat
ed in
tere
st pa
ymen
ts an
d ex
clud
ing
the
impa
ct o
f net
ting
agre
emen
ts.
Expo
sure
to c
redi
t risk
00-0
1 Y
ear
01-0
2 Y
ears
02-0
3 Y
ears
03-
04 Y
ears
M
ore
than
4
year
s
CEC
B
Cre
dit r
isk (c
ontin
ued)
The
carr
ying
am
ount
of f
inan
cial
ass
ets r
epre
sent
s the
max
imum
cre
dit e
xpos
ure.
The
max
imum
exp
osur
e to
cre
dit r
isk a
t the
repo
rting
dat
e w
as a
s fol
low
s
The
max
imum
exp
osur
e to
cre
dit r
isk fo
r loa
ns a
nd re
ceiv
able
s at r
epor
ting
date
by
geog
raph
ic re
gion
was
: 00-0
1 Y
ear
01-0
2 Y
ears
02-0
3 Y
ears
Car
ryin
g am
ount
Con
trac
tual
cas
h flo
ws
Mar
ket r
isk is
the
risk
that
cha
nges
in m
arke
t pric
es, s
uch
as in
tere
st ra
tes a
nd e
quity
pric
es w
ill a
ffect
the
Gro
up’s
inco
me
or th
e va
lue
of it
s hol
ding
s of f
inan
cial
instr
umen
ts. T
he o
bjec
tive
of m
arke
t risk
m
anag
emen
t is t
o m
anag
e an
d co
ntro
l mar
ket r
isk e
xpos
ures
with
in a
ccep
tabl
e pa
ram
eter
s, w
hile
opt
imisi
ng th
e re
turn
.
GR
OU
P
Furth
er, t
he B
oard
seek
s to
mai
ntai
n a
bala
nce
betw
een
high
er ta
rget
ed re
turn
s tha
t mig
ht b
e po
ssib
le w
ith h
ighe
r lev
el o
f bor
row
ing,
and
the
adva
ntag
es a
nd se
curit
y af
ford
ed b
y th
e str
ong
capi
tal p
ositi
on o
f the
gr
oup.
Gro
upC
ompa
ny
At t
he re
porti
ng d
ate
the
inte
rest
rate
pro
file
of th
e gr
oup's
inte
rest
- bea
ring
finan
cial
instr
umen
ts w
as:
Gro
upC
ompa
ny
The
Boar
d’s p
olic
y is
to m
aint
ain
a str
ong
capi
tal b
ase
so a
s to
mai
ntai
n in
vesto
r, cr
edito
r and
mar
ket c
onfid
ence
and
to su
stain
futu
re d
evel
opm
ent o
f the
bus
ines
s. Ca
pita
l con
sists
of o
rdin
ary
shar
es, r
etai
ned
earn
ings
and
non
-con
trolli
ng in
tere
sts o
f the
Gro
up. T
he B
oard
of D
irect
ors m
onito
rs th
e re
turn
on
capi
tal a
s wel
l as t
he le
vel o
f div
iden
ds to
ord
inar
y sh
areh
olde
rs.
The
Gro
up's
mai
n ob
ject
ive
is w
hen
man
agin
g ca
pita
l are
:
03-
04 Y
ears
M
ore
than
4 y
ears
The
gros
s inf
low
s/(ou
tflow
s) d
isclo
sed
in th
e pr
evio
us ta
ble
repr
esen
t the
con
tract
ual u
ndisc
ount
ed c
ash
flow
s rel
atin
g to
fina
ncia
l lia
bilit
ies h
eld
for r
isk m
anag
emen
t pur
pose
s and
whi
ch a
re u
sual
ly n
ot c
lose
d ou
t pr
ior t
o co
ntra
ctua
l mat
urity
.
Carr
ying
am
ount
Cont
ract
ual c
ash
flow
s
24
Page | 32
CEN
TRA
L EN
GIN
EER
ING
CO
NSU
LTA
NC
Y B
UR
EAU
NO
TES
TO T
HE
FIN
AN
CIA
L ST
ATE
MEN
TS (C
ON
TIN
UED
)
FOR
TH
E Y
EAR
EN
DED
31S
T D
ECEM
BER
201
2
27Fi
nanc
ial r
isk m
anag
emen
tov
ervi
ewTh
e gr
oup
has e
xpos
ure
to th
e fo
llow
ing
risk
arisi
ng fr
om fi
nanc
ial i
nstru
men
tsCr
edit
risk
Liqu
idity
risk
Mar
ket r
isk
Risk
man
agem
ent F
ram
ewor
k
27 CEN
TRA
L EN
GIN
EER
ING
CO
NSU
LTA
NC
Y B
UR
EAU
NO
TES
TO T
HE
FIN
AN
CIA
L ST
ATE
MEN
TS (C
ON
TIN
UED
)FO
R T
HE
YEA
R E
ND
ED 3
1ST
DEC
EMB
ER 2
012
27Fi
nanc
ial r
isk m
anag
emen
t (co
ntin
ued)
27
2012
2011
2010
2012
2011
2010
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Inve
stmen
t in
Fixe
d D
epos
it (L
ong
term
)66
,114
,301
62
,456
,627
67
,796
,710
66
,114
,301
62
,456
,627
67
,796
,710
Inve
stmen
t in
Fixe
d D
epos
it (S
hort
term
)1,
572,
852,
406
1,70
7,59
3,96
7
1,49
1,08
6,62
9
1,57
2,85
2,40
6
1,70
7,59
3,96
7
1,49
1,08
6,62
9
In
vestm
ent i
n Sh
ares
2,00
0,00
0
2,
000,
000
2,00
0,00
0
2,00
0,00
0
2,
000,
000
2,
000,
000
Inve
stmen
t in
subs
idia
ry (U
nquo
ted)
-
-
-
20
20
-
Tr
ade
and
Oth
er R
ecei
vabl
es10
,744
,968
,138
9,
277,
200,
225
2,
549,
702,
106
8,
571,
483,
325
6,
908,
203,
554
2,
549,
702,
106
Cash
and
Cas
h Eq
uiva
lent
s53
4,76
1,47
1
615,
208,
770
327,
792,
660
464,
311,
326
528,
777,
653
327,
792,
660
12,9
20,6
96,3
16
11,6
64,4
59,5
89
4,43
8,37
8,10
5
10,6
76,7
61,3
78
9,20
9,03
1,82
1
4,43
8,37
8,10
5
2,38
8,66
3,37
1
-
2012
2011
2010
2012
2011
2010
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Bath
thar
amul
la(1
15,6
79,6
51.7
8)
51
2,13
4,69
5
532,
061,
244
137,
110,
747
396,
455,
043
404,
646,
948
137,
110,
747
M
ahar
agam
a12
7,41
4,29
5.83
259,
066,
494
20
9,78
1,10
2
43
,744
,667
14
3,38
6,84
2
82
,366
,806
43
,744
,667
Gam
paha
314,
678,
135
38
4,32
8,83
0
10
5,13
6,85
1
19
8,99
8,48
3
25
6,91
4,53
5
10
5,13
6,85
1
Jaw
atht
ha14
8,51
7,84
9.08
472,
993,
879
50
5,26
1,70
5
90
,987
,322
35
7,31
4,22
7
25
0,43
3,11
4
90
,987
,322
Am
para
84
,280
,424
.21
66
8,32
2,78
3
731,
985,
534
219,
120,
376
552,
643,
131
477,
156,
943
219,
120,
376
M
onar
agal
a5,
959,
539.
33
1,57
0,64
5,74
0
-
-
1,
454,
966,
088
-
-
Uva
875,
467,
540
1,
505,
329,
690
58
5,36
2,63
8
75
9,78
7,88
8
1,
250,
501,
098
58
5,36
2,63
8
Saba
raga
muw
a35
5,17
4,07
0
319,
616,
319
135,
890,
853
239,
494,
418
192,
202,
024
135,
890,
853
So
uthe
rn37
7,65
3,33
9
479,
569,
036
187,
960,
973
261,
973,
687
352,
154,
740
187,
960,
973
Ce
ntra
l1,
186,
998,
086
833,
195,
778
293,
589,
962
1,07
1,31
8,43
4
705,
781,
482
293,
589,
962
N
orth
Cen
tral
1,06
4,06
9,51
0
85
0,84
0,48
6
72
,439
,512
83
2,71
0,20
7
72
3,42
6,19
0
72
,439
,512
Kan
thal
e29
6,82
2,10
9
-
-
181,
142,
457
-
-
Ja
ffna
260,
951,
971
41
,261
,679
-
14
5,27
2,31
9
41
,261
,679
-
Kat
ubed
dha
285,
101,
035
32
1,65
3,14
4
10
8,83
2,93
3
16
9,42
1,38
3
19
4,23
8,84
8
10
8,83
2,93
3
Dig
ana
28,3
06,6
58
12,4
39,6
33
13,6
84,8
82
28,3
06,6
58
12,4
39,6
33
13,6
84,8
82
Co
nsul
tanc
y46
4,70
4,04
8
513,
261,
123
249,
046,
376
349,
024,
396
258,
432,
532
249,
046,
376
In
tern
atio
nal
179,
701,
617
18
7,38
7,56
2
79
,014
,644
64
,021
,965
59
,973
,267
79
,014
,644
Hea
d O
ffice
263,
916,
119
20
2,27
2,99
5
66
,740
,634
14
8,23
6,46
7
74
,858
,699
66
,740
,634
9,43
6,70
7,82
4
7,
630,
245,
860
2,
388,
663,
371
7,
354,
474,
092
5,
336,
788,
535
2,
388,
663,
371
CEN
TRA
L EN
GIN
EER
ING
CO
NSU
LTA
NC
Y B
UR
EAU
NO
TES
TO T
HE
FIN
AN
CIA
L ST
ATE
MEN
TS (C
ON
TIN
UED
)
FOR
TH
E Y
EAR
EN
DED
31S
T D
ECEM
BER
201
227
Fina
ncia
l risk
man
agem
ent (
cont
inue
d)27
GR
OU
PG
ross
Impa
irm
ent
Gro
ssIm
pair
men
t G
ross
Im
pair
men
t20
1220
1220
1120
1120
1020
10R
s.R
s.R
s.R
s.R
s.R
s.Cu
rren
t bal
ance
(no
due)
00-0
1 Y
ear
7,70
0,51
2,71
9
-
6,
951,
842,
058
-
1,
811,
317,
592
-
01-0
2 Y
ears
998,
816,
300
-
26
2,00
1,74
5
-
24
1,05
0,65
5
-
02-0
3 Y
ears
141,
407,
504
-
35
,237
,565
-
11
5,62
0,35
4
-
03-0
4 Y
ears
36,2
26,7
87
-
48,3
04,0
08
-
95,2
48,7
50
-
04
& A
bove
559,
744,
515
58
5,56
0,80
7
33
2,86
0,48
3
(4
46,8
75,1
14)
125,
426,
020
(381
,378
,703
)
9,43
6,70
7,82
4
58
5,56
0,80
7
7,
630,
245,
860
(4
46,8
75,1
14)
2,38
8,66
3,37
1
(381
,378
,703
)
CEC
B G
ross
Im
pair
men
t G
ross
Im
pair
men
t G
ross
Im
pair
men
t 20
1220
1220
1120
1120
1020
10R
s.R
s.R
s.R
s.R
s.R
s.Cu
rren
t bal
ance
(no
due)
00-0
1 Y
ear
5,61
8,27
8,98
7
-
4,
658,
384,
733
-
1,
811,
317,
592
-
01-0
2 Y
ears
998,
816,
300
-
26
2,00
1,74
5
-
24
1,05
0,65
5
-
02-0
3 Y
ears
141,
407,
504
-
35
,237
,565
-
11
5,62
0,35
4
-
03-0
4 Y
ears
36,2
26,7
87
-
48,3
04,0
08
-
95,2
48,7
50
-
04
& A
bove
559,
744,
515
(5
85,5
60,8
07)
332,
860,
483
(446
,875
,114
)
12
5,42
6,02
0
(3
81,3
78,7
03)
7,
354,
474,
092
(585
,560
,807
)
5,
336,
788,
535
(4
46,8
75,1
14)
2,38
8,66
3,37
1
(381
,378
,703
)
2012
2011
2010
2012
2011
2010
Indi
vidu
al im
pair
men
tR
s.Rs
.Rs
.R
s.Rs
.Rs
.Ba
lanc
e at
the
begi
nnin
g44
6,87
5,11
4
381,
378,
703
313,
601,
119
446,
875,
114
381,
378,
703
313,
601,
119
Im
pairm
ent l
oss r
ecog
nise
d28
7,75
6,14
4
84,3
96,4
10
90,7
63,6
91
287,
756,
144
84,3
96,4
10
90,7
63,6
91
Re
vers
al o
f Im
pairm
ent
(34,
527,
346)
(3
8,43
5)
(22,
986,
107)
(34,
527,
346)
(3
8,43
5)
(22,
986,
107)
A
mou
nts w
ritte
n of
f(1
14,5
43,1
06)
(18,
861,
564)
-
(1
14,5
43,1
06)
(18,
861,
564)
-
B
alan
ce a
t the
end
585,
560,
807
44
6,87
5,11
4
38
1,37
8,70
3
58
5,56
0,80
7
44
6,87
5,11
4
38
1,37
8,70
3
CEN
TRA
L EN
GIN
EER
ING
CO
NSU
LTA
NC
Y B
UR
EAU
NO
TES
TO T
HE
FIN
AN
CIA
L ST
ATE
MEN
TS (C
ON
TIN
UED
)
FOR
TH
E Y
EAR
EN
DED
31S
T D
ECEM
BER
201
2
27Fi
nanc
ial r
isk m
anag
emen
t (co
ntin
ued)
27C
ash
and
cash
equ
ival
ents
27Li
quid
ity r
isk
GR
OU
PA
s at 3
1st D
ecem
ber
2012
Non
-der
ivat
ive
finan
cial
liab
ilitie
sTr
ade
and
othe
r pay
able
s12
,331
,787
,072
12,3
31,7
87,0
72
12,3
31,7
87,0
72
-
-
-
-
A
mou
nts d
ue to
rela
ted
com
pani
es15
9,57
9,94
1
15
9,57
9,94
1
159,
579,
941
-
-
-
-
Le
ase
cred
itors
72,1
10,4
45
72
,110
,445
32
,655
,555
16
,561
,931
11
,597
,965
11
,294
,993
-
Bank
ove
rdra
ft-
-
-
-
-
-
-
12
,563
,477
,458
12,5
63,4
77,4
58
12,5
24,0
22,5
68
16,5
61,9
31
11,5
97,9
65
11,2
94,9
93
-
CEC
BA
s at 3
1st D
ecem
ber
2012
Non
-der
ivat
ive
finan
cial
liab
ilitie
sTr
ade
and
othe
r pay
able
s10
,022
,553
,967
10,0
22,5
53,9
67
10,0
22,5
53,9
67
-
-
-
-
A
mou
nts d
ue to
rela
ted
com
pani
es(9
7,64
6,80
8)
(9
7,64
6,80
8)
(97,
646,
808)
-
-
-
-
Leas
e cr
edito
rs30
,364
,400
30,3
64,4
00
18,7
40,2
07
6,12
5,42
0
3,24
8,75
6
2,
250,
017
-
Bank
ove
rdra
ft-
-
-
-
-
-
-
9,95
5,27
1,55
9
9,95
5,27
1,55
9
9,
943,
647,
366
6,
125,
420
3,
248,
756
2,25
0,01
7
-
CEN
TRA
L EN
GIN
EER
ING
CO
NSU
LTA
NC
Y B
UR
EAU
NO
TES
TO T
HE
FIN
AN
CIA
L ST
ATE
MEN
TS (C
ON
TIN
UED
)
FOR
TH
E Y
EAR
EN
DED
31S
T D
ECEM
BER
201
227
Fina
ncia
l risk
man
agem
ent (
cont
inue
d)
27M
arke
t risk
27In
tere
st r
ate
risk
2012
2011
2010
2012
2011
2010
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Fixe
d ra
te in
stru
men
tsFi
nanc
ial A
sset
s - L
ong
term
fixe
d de
posit
66,1
14,3
01
62,4
56,6
27
67,7
96,7
10
66,1
14,3
01
62,4
56,6
27
67,7
96,7
10
Fi
nanc
ial A
sset
s - S
hort
term
fixe
d de
posit
1,57
2,85
2,40
6
1,
707,
593,
967
1,
491,
086,
629
1,
572,
852,
406
1,
707,
593,
967
1,
491,
086,
629
1,63
8,96
6,70
7
1,
770,
050,
594
1,
558,
883,
339
1,
638,
966,
707
1,
770,
050,
594
1,
558,
883,
339
28C
apita
l man
agem
ent
01) t
o sa
fegu
arde
d th
e G
roup
abi
lity
to c
ontin
ue a
s a g
oing
con
cern
, so
that
it c
an c
ontin
ue to
pro
vide
retu
rns f
or sh
areh
olde
rs a
nd b
enef
its fo
r oth
er st
akeh
olde
rs
02) t
o pr
ovid
e an
ade
quat
e re
turn
to sh
areh
olde
rs b
y pr
icin
g pr
oduc
ts co
mm
ensu
rate
ly w
ith th
e le
vel o
f risk
; and
The
Gro
up’s
net
deb
t to
adju
sted
equi
ty ra
tio a
t the
repo
rting
dat
e w
as a
s fol
low
s.
2012
2011
2010
2012
2011
2010
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Tota
l lia
bilit
ies
13,1
81,1
35,7
96
11,3
45,8
66,9
77
3,93
6,72
1,55
7
10,5
64,8
77,2
08
8,87
0,33
5,97
1
3,93
6,72
1,55
7
Le
ss: c
ash
and
cash
equ
ival
ents
(534
,761
,471
)
(6
15,2
08,7
70)
(327
,792
,660
)
(464
,311
,326
)
(5
28,7
77,6
53)
(327
,792
,660
)
Net
deb
t12
,646
,374
,325
10
,730
,658
,207
3,
608,
928,
897
10
,100
,565
,882
8,
341,
558,
318
3,
608,
928,
897
Tota
l equ
ity3,
624,
631,
054
3,26
1,01
6,77
7
3,09
4,25
7,89
0
3,61
4,81
9,14
6
3,25
9,09
8,07
5
3,09
4,25
7,89
0
A
djus
ted
equi
ty3,
624,
631,
054
3,26
1,01
6,77
7
3,09
4,25
7,89
0
3,61
4,81
9,14
6
3,25
9,09
8,07
5
3,09
4,25
7,89
0
Net
deb
t to
adju
sted
equi
ty ra
tio a
t 31s
t Dec
embe
r3.
49
3.29
1.
17
2.
79
3
1.
17
Cre
dit r
isk (c
ontin
ued)
The
Gro
up's
expo
sure
tocr
edit
risk
isin
fluen
ced
mai
nly
byth
ein
divi
dual
char
acte
ristic
sofe
ach
custo
mer
.How
ever
,man
agem
enta
lsoco
nsid
erst
hede
mog
raph
icso
fthe
Gro
up’s
custo
mer
base
,ast
hese
fact
orsm
ayha
ve a
n in
fluen
ce o
n cr
edit
risk.
Dur
ing
2012
the
maj
ority
of t
he G
roup
’s re
venu
e w
as a
ttrib
utab
le to
sale
s tra
nsac
tions
with
Uva
, Ce
ntra
l and
Nor
th C
entra
l pro
vinc
ial g
eogr
aphi
cal r
egio
ns .
The
Gro
up h
eld
cash
and
cas
h eq
uiva
lent
s of R
s. 53
4,76
1,47
1 at
31s
t Dec
embe
r 201
2 (2
011:
Rs.
565,
852,
867)
, whi
ch re
pres
ents
its m
axim
um c
redi
t exp
osur
e on
thes
e as
sets.
The
cas
h an
d ca
sh e
quiv
alen
ts ar
e he
ld
with
ban
k an
d fin
anci
al in
stitu
tion
coun
terp
artie
s.
GR
OU
P
CEC
B
GR
OU
PC
ECB
Impa
irm
ent l
osse
sTh
e ag
ing
of tr
ade
debt
ors a
t the
repo
rting
dat
e th
at w
ere
not i
mpa
ired
was
as f
ollo
ws.
Cre
dit r
isk (c
ontin
ued)
The
note
pres
ents
info
rmat
ion
abou
tthe
Gro
up's
expo
sure
toea
chof
the
abov
eris
ks,t
heG
roup
'sris
km
anag
emen
tobj
ectiv
es,p
olic
iesa
ndpr
oces
sesf
orm
easu
ring
and
man
agin
gris
k,an
dth
eG
roup
'sm
anag
emen
tof
capi
tal.
The
Boar
dof
Dire
ctor
sha
sov
eral
lre
spon
sibili
tyfo
rth
ees
tabl
ishm
enta
ndov
ersig
htof
the
Gro
up’s
risk
man
agem
ent
fram
ewor
k.Th
eBo
ard
has
esta
blish
edth
eA
udit
and
Man
agem
entC
omm
ittee
,whi
chis
resp
onsib
le fo
r dev
elop
ing
and
mon
itorin
g th
e G
roup
’s ri
sk m
anag
emen
t pol
icie
s. Th
e co
mm
ittee
repo
rts re
gula
rly to
the
Boar
d of
Dire
ctor
s on
its a
ctiv
ities
.
The
Gro
up’s
risk
man
agem
entp
olic
iesa
rees
tabl
ished
toid
entif
yan
dan
alys
eth
eris
ksfa
ced
byth
eG
roup
,to
seta
ppro
pria
teris
klim
itsan
dco
ntro
ls,an
dto
mon
itorr
isksa
ndad
here
nce
tolim
its.R
iskm
anag
emen
tpo
licie
sand
syste
msa
rere
view
edre
gula
rlyto
refle
ctch
ange
sin
mar
ketc
ondi
tions
and
the
Gro
up’s
activ
ities
.The
Gro
up,t
hrou
ghits
train
ing
and
man
agem
ents
tand
ards
and
proc
edur
es,a
imst
ode
velo
pa
disc
iplin
edan
d co
nstru
ctiv
e co
ntro
l env
ironm
ent i
n w
hich
all
empl
oyee
s und
ersta
nd th
eir r
oles
and
obl
igat
ions
.
The
Aud
itan
dM
anag
emen
tCom
mitt
eeov
erse
esho
wm
anag
emen
tmon
itors
com
plia
nce
with
the
Gro
up’s
risk
man
agem
entp
olic
iesa
ndpr
oced
ures
,and
revi
ewst
head
equa
cyof
the
risk
man
agem
entf
ram
ewor
kin
rela
tion
toth
eris
ksfa
ced
byth
eG
roup
.The
Aud
itan
dM
anag
emen
tCom
mitt
eeis
assis
ted
inits
over
sight
role
byIn
tern
alA
udit.
Inte
rnal
Aud
itun
derta
kes
both
regu
lar
and
adho
cre
view
sofr
iskm
anag
emen
tco
ntro
ls an
d pr
oced
ures
, the
resu
lts o
f whi
ch a
re re
porte
d to
the
Aud
it an
d M
anag
emen
t Com
mitt
ee.
Cred
itris
kis
the
risk
offin
anci
allo
ssto
the
Gro
upif
acu
stom
eror
coun
terp
arty
toa
finan
cial
instr
umen
tfai
lsto
mee
tits
cont
ract
ualo
blig
atio
ns,a
ndar
isesp
rinci
pally
from
the
Gro
up’s
rece
ivab
lesf
rom
custo
mer
san
d in
vestm
ent s
ecur
ities
.
Cre
dit r
isk
Liqu
idity
risk
is th
e ris
k th
at th
e G
roup
will
enc
ount
er d
iffic
ulty
in m
eetin
g th
e ob
ligat
ions
ass
ocia
ted
with
its f
inan
cial
liab
ilitie
s tha
t are
settl
ed b
y de
liver
ing
cash
or a
noth
er fi
nanc
ial a
sset
. The
Gro
up’s
app
roac
h to
The
follo
win
g ar
e th
e co
ntra
ctua
l mat
uriti
es o
f fin
anci
al li
abili
ties,
incl
udin
g es
timat
ed in
tere
st pa
ymen
ts an
d ex
clud
ing
the
impa
ct o
f net
ting
agre
emen
ts.
Expo
sure
to c
redi
t risk
00-0
1 Y
ear
01-0
2 Y
ears
02-0
3 Y
ears
03-
04 Y
ears
M
ore
than
4
year
s
CEC
B
Cre
dit r
isk (c
ontin
ued)
The
carr
ying
am
ount
of f
inan
cial
ass
ets r
epre
sent
s the
max
imum
cre
dit e
xpos
ure.
The
max
imum
exp
osur
e to
cre
dit r
isk a
t the
repo
rting
dat
e w
as a
s fol
low
s
The
max
imum
exp
osur
e to
cre
dit r
isk fo
r loa
ns a
nd re
ceiv
able
s at r
epor
ting
date
by
geog
raph
ic re
gion
was
: 00-0
1 Y
ear
01-0
2 Y
ears
02-0
3 Y
ears
Car
ryin
g am
ount
Con
trac
tual
cas
h flo
ws
Mar
ket r
isk is
the
risk
that
cha
nges
in m
arke
t pric
es, s
uch
as in
tere
st ra
tes a
nd e
quity
pric
es w
ill a
ffect
the
Gro
up’s
inco
me
or th
e va
lue
of it
s hol
ding
s of f
inan
cial
instr
umen
ts. T
he o
bjec
tive
of m
arke
t risk
m
anag
emen
t is t
o m
anag
e an
d co
ntro
l mar
ket r
isk e
xpos
ures
with
in a
ccep
tabl
e pa
ram
eter
s, w
hile
opt
imisi
ng th
e re
turn
.
GR
OU
P
Furth
er, t
he B
oard
seek
s to
mai
ntai
n a
bala
nce
betw
een
high
er ta
rget
ed re
turn
s tha
t mig
ht b
e po
ssib
le w
ith h
ighe
r lev
el o
f bor
row
ing,
and
the
adva
ntag
es a
nd se
curit
y af
ford
ed b
y th
e str
ong
capi
tal p
ositi
on o
f the
gr
oup.
Gro
upC
ompa
ny
At t
he re
porti
ng d
ate
the
inte
rest
rate
pro
file
of th
e gr
oup's
inte
rest
- bea
ring
finan
cial
instr
umen
ts w
as:
Gro
upC
ompa
ny
The
Boar
d’s p
olic
y is
to m
aint
ain
a str
ong
capi
tal b
ase
so a
s to
mai
ntai
n in
vesto
r, cr
edito
r and
mar
ket c
onfid
ence
and
to su
stain
futu
re d
evel
opm
ent o
f the
bus
ines
s. Ca
pita
l con
sists
of o
rdin
ary
shar
es, r
etai
ned
earn
ings
and
non
-con
trolli
ng in
tere
sts o
f the
Gro
up. T
he B
oard
of D
irect
ors m
onito
rs th
e re
turn
on
capi
tal a
s wel
l as t
he le
vel o
f div
iden
ds to
ord
inar
y sh
areh
olde
rs.
The
Gro
up's
mai
n ob
ject
ive
is w
hen
man
agin
g ca
pita
l are
:
03-
04 Y
ears
M
ore
than
4 y
ears
The
gros
s inf
low
s/(ou
tflow
s) d
isclo
sed
in th
e pr
evio
us ta
ble
repr
esen
t the
con
tract
ual u
ndisc
ount
ed c
ash
flow
s rel
atin
g to
fina
ncia
l lia
bilit
ies h
eld
for r
isk m
anag
emen
t pur
pose
s and
whi
ch a
re u
sual
ly n
ot c
lose
d ou
t pr
ior t
o co
ntra
ctua
l mat
urity
.
Carr
ying
am
ount
Cont
ract
ual c
ash
flow
s
24
Page | 33
CEN
TRA
L EN
GIN
EER
ING
CO
NSU
LTA
NC
Y B
UR
EAU
NO
TES
TO T
HE
FIN
AN
CIA
L ST
ATE
MEN
TS (C
ON
TIN
UED
)
FOR
TH
E Y
EAR
EN
DED
31S
T D
ECEM
BER
201
2
27Fi
nanc
ial r
isk m
anag
emen
tov
ervi
ewTh
e gr
oup
has e
xpos
ure
to th
e fo
llow
ing
risk
arisi
ng fr
om fi
nanc
ial i
nstru
men
tsCr
edit
risk
Liqu
idity
risk
Mar
ket r
isk
Risk
man
agem
ent F
ram
ewor
k
27 CEN
TRA
L EN
GIN
EER
ING
CO
NSU
LTA
NC
Y B
UR
EAU
NO
TES
TO T
HE
FIN
AN
CIA
L ST
ATE
MEN
TS (C
ON
TIN
UED
)FO
R T
HE
YEA
R E
ND
ED 3
1ST
DEC
EMB
ER 2
012
27Fi
nanc
ial r
isk m
anag
emen
t (co
ntin
ued)
27
2012
2011
2010
2012
2011
2010
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Inve
stmen
t in
Fixe
d D
epos
it (L
ong
term
)66
,114
,301
62
,456
,627
67
,796
,710
66
,114
,301
62
,456
,627
67
,796
,710
Inve
stmen
t in
Fixe
d D
epos
it (S
hort
term
)1,
572,
852,
406
1,70
7,59
3,96
7
1,49
1,08
6,62
9
1,57
2,85
2,40
6
1,70
7,59
3,96
7
1,49
1,08
6,62
9
In
vestm
ent i
n Sh
ares
2,00
0,00
0
2,
000,
000
2,00
0,00
0
2,00
0,00
0
2,
000,
000
2,
000,
000
Inve
stmen
t in
subs
idia
ry (U
nquo
ted)
-
-
-
20
20
-
Tr
ade
and
Oth
er R
ecei
vabl
es10
,744
,968
,138
9,
277,
200,
225
2,
549,
702,
106
8,
571,
483,
325
6,
908,
203,
554
2,
549,
702,
106
Cash
and
Cas
h Eq
uiva
lent
s53
4,76
1,47
1
615,
208,
770
327,
792,
660
464,
311,
326
528,
777,
653
327,
792,
660
12,9
20,6
96,3
16
11,6
64,4
59,5
89
4,43
8,37
8,10
5
10,6
76,7
61,3
78
9,20
9,03
1,82
1
4,43
8,37
8,10
5
2,38
8,66
3,37
1
-
2012
2011
2010
2012
2011
2010
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Bath
thar
amul
la(1
15,6
79,6
51.7
8)
51
2,13
4,69
5
532,
061,
244
137,
110,
747
396,
455,
043
404,
646,
948
137,
110,
747
M
ahar
agam
a12
7,41
4,29
5.83
259,
066,
494
20
9,78
1,10
2
43
,744
,667
14
3,38
6,84
2
82
,366
,806
43
,744
,667
Gam
paha
314,
678,
135
38
4,32
8,83
0
10
5,13
6,85
1
19
8,99
8,48
3
25
6,91
4,53
5
10
5,13
6,85
1
Jaw
atht
ha14
8,51
7,84
9.08
472,
993,
879
50
5,26
1,70
5
90
,987
,322
35
7,31
4,22
7
25
0,43
3,11
4
90
,987
,322
Am
para
84
,280
,424
.21
66
8,32
2,78
3
731,
985,
534
219,
120,
376
552,
643,
131
477,
156,
943
219,
120,
376
M
onar
agal
a5,
959,
539.
33
1,57
0,64
5,74
0
-
-
1,
454,
966,
088
-
-
Uva
875,
467,
540
1,
505,
329,
690
58
5,36
2,63
8
75
9,78
7,88
8
1,
250,
501,
098
58
5,36
2,63
8
Saba
raga
muw
a35
5,17
4,07
0
319,
616,
319
135,
890,
853
239,
494,
418
192,
202,
024
135,
890,
853
So
uthe
rn37
7,65
3,33
9
479,
569,
036
187,
960,
973
261,
973,
687
352,
154,
740
187,
960,
973
Ce
ntra
l1,
186,
998,
086
833,
195,
778
293,
589,
962
1,07
1,31
8,43
4
705,
781,
482
293,
589,
962
N
orth
Cen
tral
1,06
4,06
9,51
0
85
0,84
0,48
6
72
,439
,512
83
2,71
0,20
7
72
3,42
6,19
0
72
,439
,512
Kan
thal
e29
6,82
2,10
9
-
-
181,
142,
457
-
-
Ja
ffna
260,
951,
971
41
,261
,679
-
14
5,27
2,31
9
41
,261
,679
-
Kat
ubed
dha
285,
101,
035
32
1,65
3,14
4
10
8,83
2,93
3
16
9,42
1,38
3
19
4,23
8,84
8
10
8,83
2,93
3
Dig
ana
28,3
06,6
58
12,4
39,6
33
13,6
84,8
82
28,3
06,6
58
12,4
39,6
33
13,6
84,8
82
Co
nsul
tanc
y46
4,70
4,04
8
513,
261,
123
249,
046,
376
349,
024,
396
258,
432,
532
249,
046,
376
In
tern
atio
nal
179,
701,
617
18
7,38
7,56
2
79
,014
,644
64
,021
,965
59
,973
,267
79
,014
,644
Hea
d O
ffice
263,
916,
119
20
2,27
2,99
5
66
,740
,634
14
8,23
6,46
7
74
,858
,699
66
,740
,634
9,43
6,70
7,82
4
7,
630,
245,
860
2,
388,
663,
371
7,
354,
474,
092
5,
336,
788,
535
2,
388,
663,
371
CEN
TRA
L EN
GIN
EER
ING
CO
NSU
LTA
NC
Y B
UR
EAU
NO
TES
TO T
HE
FIN
AN
CIA
L ST
ATE
MEN
TS (C
ON
TIN
UED
)
FOR
TH
E Y
EAR
EN
DED
31S
T D
ECEM
BER
201
227
Fina
ncia
l risk
man
agem
ent (
cont
inue
d)27
GR
OU
PG
ross
Impa
irm
ent
Gro
ssIm
pair
men
t G
ross
Im
pair
men
t20
1220
1220
1120
1120
1020
10R
s.R
s.R
s.R
s.R
s.R
s.Cu
rren
t bal
ance
(no
due)
00-0
1 Y
ear
7,70
0,51
2,71
9
-
6,
951,
842,
058
-
1,
811,
317,
592
-
01-0
2 Y
ears
998,
816,
300
-
26
2,00
1,74
5
-
24
1,05
0,65
5
-
02-0
3 Y
ears
141,
407,
504
-
35
,237
,565
-
11
5,62
0,35
4
-
03-0
4 Y
ears
36,2
26,7
87
-
48,3
04,0
08
-
95,2
48,7
50
-
04
& A
bove
559,
744,
515
58
5,56
0,80
7
33
2,86
0,48
3
(4
46,8
75,1
14)
125,
426,
020
(381
,378
,703
)
9,43
6,70
7,82
4
58
5,56
0,80
7
7,
630,
245,
860
(4
46,8
75,1
14)
2,38
8,66
3,37
1
(381
,378
,703
)
CEC
B G
ross
Im
pair
men
t G
ross
Im
pair
men
t G
ross
Im
pair
men
t 20
1220
1220
1120
1120
1020
10R
s.R
s.R
s.R
s.R
s.R
s.Cu
rren
t bal
ance
(no
due)
00-0
1 Y
ear
5,61
8,27
8,98
7
-
4,
658,
384,
733
-
1,
811,
317,
592
-
01-0
2 Y
ears
998,
816,
300
-
26
2,00
1,74
5
-
24
1,05
0,65
5
-
02-0
3 Y
ears
141,
407,
504
-
35
,237
,565
-
11
5,62
0,35
4
-
03-0
4 Y
ears
36,2
26,7
87
-
48,3
04,0
08
-
95,2
48,7
50
-
04
& A
bove
559,
744,
515
(5
85,5
60,8
07)
332,
860,
483
(446
,875
,114
)
12
5,42
6,02
0
(3
81,3
78,7
03)
7,
354,
474,
092
(585
,560
,807
)
5,
336,
788,
535
(4
46,8
75,1
14)
2,38
8,66
3,37
1
(381
,378
,703
)
2012
2011
2010
2012
2011
2010
Indi
vidu
al im
pair
men
tR
s.Rs
.Rs
.R
s.Rs
.Rs
.Ba
lanc
e at
the
begi
nnin
g44
6,87
5,11
4
381,
378,
703
313,
601,
119
446,
875,
114
381,
378,
703
313,
601,
119
Im
pairm
ent l
oss r
ecog
nise
d28
7,75
6,14
4
84,3
96,4
10
90,7
63,6
91
287,
756,
144
84,3
96,4
10
90,7
63,6
91
Re
vers
al o
f Im
pairm
ent
(34,
527,
346)
(3
8,43
5)
(22,
986,
107)
(34,
527,
346)
(3
8,43
5)
(22,
986,
107)
A
mou
nts w
ritte
n of
f(1
14,5
43,1
06)
(18,
861,
564)
-
(1
14,5
43,1
06)
(18,
861,
564)
-
B
alan
ce a
t the
end
585,
560,
807
44
6,87
5,11
4
38
1,37
8,70
3
58
5,56
0,80
7
44
6,87
5,11
4
38
1,37
8,70
3
CEN
TRA
L EN
GIN
EER
ING
CO
NSU
LTA
NC
Y B
UR
EAU
NO
TES
TO T
HE
FIN
AN
CIA
L ST
ATE
MEN
TS (C
ON
TIN
UED
)
FOR
TH
E Y
EAR
EN
DED
31S
T D
ECEM
BER
201
2
27Fi
nanc
ial r
isk m
anag
emen
t (co
ntin
ued)
27C
ash
and
cash
equ
ival
ents
27Li
quid
ity r
isk
GR
OU
PA
s at 3
1st D
ecem
ber
2012
Non
-der
ivat
ive
finan
cial
liab
ilitie
sTr
ade
and
othe
r pay
able
s12
,331
,787
,072
12,3
31,7
87,0
72
12,3
31,7
87,0
72
-
-
-
-
A
mou
nts d
ue to
rela
ted
com
pani
es15
9,57
9,94
1
15
9,57
9,94
1
159,
579,
941
-
-
-
-
Le
ase
cred
itors
72,1
10,4
45
72
,110
,445
32
,655
,555
16
,561
,931
11
,597
,965
11
,294
,993
-
Bank
ove
rdra
ft-
-
-
-
-
-
-
12
,563
,477
,458
12,5
63,4
77,4
58
12,5
24,0
22,5
68
16,5
61,9
31
11,5
97,9
65
11,2
94,9
93
-
CEC
BA
s at 3
1st D
ecem
ber
2012
Non
-der
ivat
ive
finan
cial
liab
ilitie
sTr
ade
and
othe
r pay
able
s10
,022
,553
,967
10,0
22,5
53,9
67
10,0
22,5
53,9
67
-
-
-
-
A
mou
nts d
ue to
rela
ted
com
pani
es(9
7,64
6,80
8)
(9
7,64
6,80
8)
(97,
646,
808)
-
-
-
-
Leas
e cr
edito
rs30
,364
,400
30,3
64,4
00
18,7
40,2
07
6,12
5,42
0
3,24
8,75
6
2,
250,
017
-
Bank
ove
rdra
ft-
-
-
-
-
-
-
9,95
5,27
1,55
9
9,95
5,27
1,55
9
9,
943,
647,
366
6,
125,
420
3,
248,
756
2,25
0,01
7
-
CEN
TRA
L EN
GIN
EER
ING
CO
NSU
LTA
NC
Y B
UR
EAU
NO
TES
TO T
HE
FIN
AN
CIA
L ST
ATE
MEN
TS (C
ON
TIN
UED
)
FOR
TH
E Y
EAR
EN
DED
31S
T D
ECEM
BER
201
227
Fina
ncia
l risk
man
agem
ent (
cont
inue
d)
27M
arke
t risk
27In
tere
st r
ate
risk
2012
2011
2010
2012
2011
2010
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Fixe
d ra
te in
stru
men
tsFi
nanc
ial A
sset
s - L
ong
term
fixe
d de
posit
66,1
14,3
01
62,4
56,6
27
67,7
96,7
10
66,1
14,3
01
62,4
56,6
27
67,7
96,7
10
Fi
nanc
ial A
sset
s - S
hort
term
fixe
d de
posit
1,57
2,85
2,40
6
1,
707,
593,
967
1,
491,
086,
629
1,
572,
852,
406
1,
707,
593,
967
1,
491,
086,
629
1,63
8,96
6,70
7
1,
770,
050,
594
1,
558,
883,
339
1,
638,
966,
707
1,
770,
050,
594
1,
558,
883,
339
28C
apita
l man
agem
ent
01) t
o sa
fegu
arde
d th
e G
roup
abi
lity
to c
ontin
ue a
s a g
oing
con
cern
, so
that
it c
an c
ontin
ue to
pro
vide
retu
rns f
or sh
areh
olde
rs a
nd b
enef
its fo
r oth
er st
akeh
olde
rs
02) t
o pr
ovid
e an
ade
quat
e re
turn
to sh
areh
olde
rs b
y pr
icin
g pr
oduc
ts co
mm
ensu
rate
ly w
ith th
e le
vel o
f risk
; and
The
Gro
up’s
net
deb
t to
adju
sted
equi
ty ra
tio a
t the
repo
rting
dat
e w
as a
s fol
low
s.
2012
2011
2010
2012
2011
2010
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Tota
l lia
bilit
ies
13,1
81,1
35,7
96
11,3
45,8
66,9
77
3,93
6,72
1,55
7
10,5
64,8
77,2
08
8,87
0,33
5,97
1
3,93
6,72
1,55
7
Le
ss: c
ash
and
cash
equ
ival
ents
(534
,761
,471
)
(6
15,2
08,7
70)
(327
,792
,660
)
(464
,311
,326
)
(5
28,7
77,6
53)
(327
,792
,660
)
Net
deb
t12
,646
,374
,325
10
,730
,658
,207
3,
608,
928,
897
10
,100
,565
,882
8,
341,
558,
318
3,
608,
928,
897
Tota
l equ
ity3,
624,
631,
054
3,26
1,01
6,77
7
3,09
4,25
7,89
0
3,61
4,81
9,14
6
3,25
9,09
8,07
5
3,09
4,25
7,89
0
A
djus
ted
equi
ty3,
624,
631,
054
3,26
1,01
6,77
7
3,09
4,25
7,89
0
3,61
4,81
9,14
6
3,25
9,09
8,07
5
3,09
4,25
7,89
0
Net
deb
t to
adju
sted
equi
ty ra
tio a
t 31s
t Dec
embe
r3.
49
3.29
1.
17
2.
79
3
1.
17
Cre
dit r
isk (c
ontin
ued)
The
Gro
up's
expo
sure
tocr
edit
risk
isin
fluen
ced
mai
nly
byth
ein
divi
dual
char
acte
ristic
sofe
ach
custo
mer
.How
ever
,man
agem
enta
lsoco
nsid
erst
hede
mog
raph
icso
fthe
Gro
up’s
custo
mer
base
,ast
hese
fact
orsm
ayha
ve a
n in
fluen
ce o
n cr
edit
risk.
Dur
ing
2012
the
maj
ority
of t
he G
roup
’s re
venu
e w
as a
ttrib
utab
le to
sale
s tra
nsac
tions
with
Uva
, Ce
ntra
l and
Nor
th C
entra
l pro
vinc
ial g
eogr
aphi
cal r
egio
ns .
The
Gro
up h
eld
cash
and
cas
h eq
uiva
lent
s of R
s. 53
4,76
1,47
1 at
31s
t Dec
embe
r 201
2 (2
011:
Rs.
565,
852,
867)
, whi
ch re
pres
ents
its m
axim
um c
redi
t exp
osur
e on
thes
e as
sets.
The
cas
h an
d ca
sh e
quiv
alen
ts ar
e he
ld
with
ban
k an
d fin
anci
al in
stitu
tion
coun
terp
artie
s.
GR
OU
P
CEC
B
GR
OU
PC
ECB
Impa
irm
ent l
osse
sTh
e ag
ing
of tr
ade
debt
ors a
t the
repo
rting
dat
e th
at w
ere
not i
mpa
ired
was
as f
ollo
ws.
Cre
dit r
isk (c
ontin
ued)
The
note
pres
ents
info
rmat
ion
abou
tthe
Gro
up's
expo
sure
toea
chof
the
abov
eris
ks,t
heG
roup
'sris
km
anag
emen
tobj
ectiv
es,p
olic
iesa
ndpr
oces
sesf
orm
easu
ring
and
man
agin
gris
k,an
dth
eG
roup
'sm
anag
emen
tof
capi
tal.
The
Boar
dof
Dire
ctor
sha
sov
eral
lre
spon
sibili
tyfo
rth
ees
tabl
ishm
enta
ndov
ersig
htof
the
Gro
up’s
risk
man
agem
ent
fram
ewor
k.Th
eBo
ard
has
esta
blish
edth
eA
udit
and
Man
agem
entC
omm
ittee
,whi
chis
resp
onsib
le fo
r dev
elop
ing
and
mon
itorin
g th
e G
roup
’s ri
sk m
anag
emen
t pol
icie
s. Th
e co
mm
ittee
repo
rts re
gula
rly to
the
Boar
d of
Dire
ctor
s on
its a
ctiv
ities
.
The
Gro
up’s
risk
man
agem
entp
olic
iesa
rees
tabl
ished
toid
entif
yan
dan
alys
eth
eris
ksfa
ced
byth
eG
roup
,to
seta
ppro
pria
teris
klim
itsan
dco
ntro
ls,an
dto
mon
itorr
isksa
ndad
here
nce
tolim
its.R
iskm
anag
emen
tpo
licie
sand
syste
msa
rere
view
edre
gula
rlyto
refle
ctch
ange
sin
mar
ketc
ondi
tions
and
the
Gro
up’s
activ
ities
.The
Gro
up,t
hrou
ghits
train
ing
and
man
agem
ents
tand
ards
and
proc
edur
es,a
imst
ode
velo
pa
disc
iplin
edan
d co
nstru
ctiv
e co
ntro
l env
ironm
ent i
n w
hich
all
empl
oyee
s und
ersta
nd th
eir r
oles
and
obl
igat
ions
.
The
Aud
itan
dM
anag
emen
tCom
mitt
eeov
erse
esho
wm
anag
emen
tmon
itors
com
plia
nce
with
the
Gro
up’s
risk
man
agem
entp
olic
iesa
ndpr
oced
ures
,and
revi
ewst
head
equa
cyof
the
risk
man
agem
entf
ram
ewor
kin
rela
tion
toth
eris
ksfa
ced
byth
eG
roup
.The
Aud
itan
dM
anag
emen
tCom
mitt
eeis
assis
ted
inits
over
sight
role
byIn
tern
alA
udit.
Inte
rnal
Aud
itun
derta
kes
both
regu
lar
and
adho
cre
view
sofr
iskm
anag
emen
tco
ntro
ls an
d pr
oced
ures
, the
resu
lts o
f whi
ch a
re re
porte
d to
the
Aud
it an
d M
anag
emen
t Com
mitt
ee.
Cred
itris
kis
the
risk
offin
anci
allo
ssto
the
Gro
upif
acu
stom
eror
coun
terp
arty
toa
finan
cial
instr
umen
tfai
lsto
mee
tits
cont
ract
ualo
blig
atio
ns,a
ndar
isesp
rinci
pally
from
the
Gro
up’s
rece
ivab
lesf
rom
custo
mer
san
d in
vestm
ent s
ecur
ities
.
Cre
dit r
isk
Liqu
idity
risk
is th
e ris
k th
at th
e G
roup
will
enc
ount
er d
iffic
ulty
in m
eetin
g th
e ob
ligat
ions
ass
ocia
ted
with
its f
inan
cial
liab
ilitie
s tha
t are
settl
ed b
y de
liver
ing
cash
or a
noth
er fi
nanc
ial a
sset
. The
Gro
up’s
app
roac
h to
The
follo
win
g ar
e th
e co
ntra
ctua
l mat
uriti
es o
f fin
anci
al li
abili
ties,
incl
udin
g es
timat
ed in
tere
st pa
ymen
ts an
d ex
clud
ing
the
impa
ct o
f net
ting
agre
emen
ts.
Expo
sure
to c
redi
t risk
00-0
1 Y
ear
01-0
2 Y
ears
02-0
3 Y
ears
03-
04 Y
ears
M
ore
than
4
year
s
CEC
B
Cre
dit r
isk (c
ontin
ued)
The
carr
ying
am
ount
of f
inan
cial
ass
ets r
epre
sent
s the
max
imum
cre
dit e
xpos
ure.
The
max
imum
exp
osur
e to
cre
dit r
isk a
t the
repo
rting
dat
e w
as a
s fol
low
s
The
max
imum
exp
osur
e to
cre
dit r
isk fo
r loa
ns a
nd re
ceiv
able
s at r
epor
ting
date
by
geog
raph
ic re
gion
was
: 00-0
1 Y
ear
01-0
2 Y
ears
02-0
3 Y
ears
Car
ryin
g am
ount
Con
trac
tual
cas
h flo
ws
Mar
ket r
isk is
the
risk
that
cha
nges
in m
arke
t pric
es, s
uch
as in
tere
st ra
tes a
nd e
quity
pric
es w
ill a
ffect
the
Gro
up’s
inco
me
or th
e va
lue
of it
s hol
ding
s of f
inan
cial
instr
umen
ts. T
he o
bjec
tive
of m
arke
t risk
m
anag
emen
t is t
o m
anag
e an
d co
ntro
l mar
ket r
isk e
xpos
ures
with
in a
ccep
tabl
e pa
ram
eter
s, w
hile
opt
imisi
ng th
e re
turn
.
GR
OU
P
Furth
er, t
he B
oard
seek
s to
mai
ntai
n a
bala
nce
betw
een
high
er ta
rget
ed re
turn
s tha
t mig
ht b
e po
ssib
le w
ith h
ighe
r lev
el o
f bor
row
ing,
and
the
adva
ntag
es a
nd se
curit
y af
ford
ed b
y th
e str
ong
capi
tal p
ositi
on o
f the
gr
oup.
Gro
upC
ompa
ny
At t
he re
porti
ng d
ate
the
inte
rest
rate
pro
file
of th
e gr
oup's
inte
rest
- bea
ring
finan
cial
instr
umen
ts w
as:
Gro
upC
ompa
ny
The
Boar
d’s p
olic
y is
to m
aint
ain
a str
ong
capi
tal b
ase
so a
s to
mai
ntai
n in
vesto
r, cr
edito
r and
mar
ket c
onfid
ence
and
to su
stain
futu
re d
evel
opm
ent o
f the
bus
ines
s. Ca
pita
l con
sists
of o
rdin
ary
shar
es, r
etai
ned
earn
ings
and
non
-con
trolli
ng in
tere
sts o
f the
Gro
up. T
he B
oard
of D
irect
ors m
onito
rs th
e re
turn
on
capi
tal a
s wel
l as t
he le
vel o
f div
iden
ds to
ord
inar
y sh
areh
olde
rs.
The
Gro
up's
mai
n ob
ject
ive
is w
hen
man
agin
g ca
pita
l are
:
03-
04 Y
ears
M
ore
than
4 y
ears
The
gros
s inf
low
s/(ou
tflow
s) d
isclo
sed
in th
e pr
evio
us ta
ble
repr
esen
t the
con
tract
ual u
ndisc
ount
ed c
ash
flow
s rel
atin
g to
fina
ncia
l lia
bilit
ies h
eld
for r
isk m
anag
emen
t pur
pose
s and
whi
ch a
re u
sual
ly n
ot c
lose
d ou
t pr
ior t
o co
ntra
ctua
l mat
urity
.
Carr
ying
am
ount
Cont
ract
ual c
ash
flow
s
24
Page | 34
CE
NT
RA
L E
NG
INE
ER
ING
CO
NSU
LT
AN
CY
BU
RE
AU
NO
TE
S T
O T
HE
FIN
AN
CIA
L S
TA
TE
ME
NT
S (C
ON
TIN
UE
D)
FOR
TH
E Y
EA
R E
ND
ED
31S
T D
EC
EM
BE
R 2
012
28E
xpla
natio
n of
tran
sitio
n to
SL
FRS
and
LK
AS
CE
CB
Not
e
As p
er S
LA
Ss R
e-M
easu
rem
ent
due
to tr
ansi
tion
to S
LFR
s/L
KA
Ss
Re-
Cla
ssifi
catio
n an
err
or c
orre
ctio
n
As p
er S
LFR
Ss/
LK
AS
Rs.
Rs.
Rs.
Rs.
Rev
enue
A8,
571,
151,
405
(2
1,07
6,34
2)
10
1,78
5
8,55
0,17
6,84
8
Cos
t of S
ales
(7,6
26,5
12,7
21)
-
-
(7
,626
,512
,721
)
Gro
ss P
rofit
944,
638,
684
923,
664,
127
Oth
er In
com
eB
401,
376,
679
3,38
8,39
4
(1
14,9
39,2
72)
289,
825,
801
Adm
inis
tratio
n E
xpen
ses
C(8
93,9
30,6
30)
(2
7,56
6,58
9)
10
5,42
6
(921
,391
,793
)
Selli
ng a
nd M
arke
ting
Expe
nses
(84,
396,
410)
-
-
(8
4,39
6,41
0)
R
esul
ts fr
om o
pera
ting
activ
ities
367,
688,
323
207,
701,
724
Fina
nce
Inco
me
-
-
114,
939,
272
11
4,93
9,27
2
Fi
nanc
e co
stD
(14,
187,
675)
(422
,182
)
-
(14,
609,
857)
Net
Fin
ance
Inco
me
(14,
187,
675)
100,
329,
415
Prof
it B
efor
e In
com
e T
ax35
3,50
0,64
8
30
8,03
1,13
9
Inco
me
Tax
Expe
nse
(161
,905
,298
)
-
-
(1
61,9
05,2
98)
Prof
it/(L
oss)
for
the
Yea
r19
1,59
5,35
0
14
6,12
5,84
1
29
Page | 35
CE
NT
RA
L E
NG
INE
ER
ING
CO
NSU
LT
AN
CY
BU
RE
AU
NO
TE
S T
O T
HE
FIN
AN
CIA
L S
TA
TE
ME
NT
S (C
ON
TIN
UE
D)
FOR
TH
E Y
EA
R E
ND
ED
31S
T D
EC
EM
BE
R 2
012
28E
xpla
natio
n of
tran
sitio
n to
SL
FRS
and
LK
AS
GO
RU
P
Not
e
As p
er S
LA
Ss R
e-M
easu
rem
ent
due
to tr
ansi
tion
to
SLFR
s/L
KA
Ss
Re-
Cla
ssifi
catio
n an
err
or c
orre
ctio
n
As p
er S
LFR
Ss/
LK
AS
Rs.
Rs.
Rs.
Rs.
Rev
enue
A8,
571,
151,
405
(2
1,07
6,34
2)
101,
785
8,
550,
176,
848
Cos
t of S
ales
(7,5
92,9
05,3
77)
(7
,592
,905
,377
)
Gro
ss P
rofit
978,
246,
028
957,
271,
471
Oth
er In
com
eB
403,
087,
530
3,38
8,39
4
(1
14,9
75,7
54)
291,
500,
170
A
dmin
istra
tion
Exp
ense
sC
(924
,314
,673
)
(2
7,57
7,77
7)
105,
426
(9
51,7
87,0
24)
Selli
ng a
nd M
arke
ting
Expe
nses
(84,
396,
410)
(8
4,39
6,41
0)
Res
ults
from
ope
ratin
g ac
tiviti
es37
2,62
2,47
5
21
2,58
8,20
7
Fina
nce
Inco
me
-
-
114,
975,
754
11
4,97
5,75
4
Fina
nce
cost
D(1
5,02
2,52
8)
(422
,182
)
(1
5,44
4,71
0)
Net
Fin
ance
Inco
me
(15,
022,
528)
99
,531
,044
Prof
it B
efor
e In
com
e T
ax35
7,59
9,94
7
31
2,11
9,25
1
Inco
me
Tax
Expe
nse
(164
,074
,708
)
(1
64,0
74,7
08)
Prof
it/(L
oss)
for
the
Yea
r19
3,52
5,23
9
14
8,04
4,54
3
30
Page | 36
CE
NT
RA
L E
NG
INE
ER
ING
CO
NSU
LT
AN
CY
BU
RE
AU
NO
TE
S T
O T
HE
FIN
AN
CIA
L S
TA
TE
ME
NT
S (C
ON
TIN
UE
D)
FOR
TH
E Y
EA
R E
ND
ED
31S
T D
EC
EM
BE
R 2
012
28E
xpla
natio
n of
tran
sitio
n to
SL
FRS
and
LK
AS
CE
CB
Not
eSL
ASs
Re-
Mea
sure
men
tdu
e to
tran
sitio
nto
SL
FRs/
LK
ASs
Re-
Cla
ssifi
catio
n an
err
or
corr
ectio
n
SLFR
SsSL
ASs
Re-
Mea
sure
men
tdu
e to
tr
ansi
tion
to
SLFR
s/L
KA
Ss
Re-
Cla
ssifi
catio
n an
err
or
corr
ectio
n
SLFR
Ss
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Asse
tsNo
n-Cu
rren
t Ass
ets
Prop
erty
, Pla
nt a
nd E
quip
men
tE
386,
659,
295
1,9
75,1
65,4
86
2,36
1,82
4,78
1
692,
181,
546
1,95
0,98
7,29
1 2,
643,
168,
837
Inve
stm
ents
69,7
96,7
10
69,7
96,7
10
64,4
56,6
47
64
,456
,647
To
tal N
on-C
urre
nt A
sset
s45
6,45
6,00
5
2,
431,
621,
491
75
6,63
8,19
3
2,70
7,62
5,48
4
Curr
ent A
sset
sIn
vent
orie
s23
0,77
6,56
2
23
0,77
6,56
1
27
7,23
3,38
8
277,
233,
388
Tr
ade
and
Oth
er R
ecei
vabl
esF
2,62
5,87
6,84
4
(9
0,76
3,69
1)
14
,588
,953
2,
549,
702,
106
7,
005,
454,
635
(
111,
840,
034)
14,5
88,9
53
6,90
8,20
3,55
4
Sh
ort t
erm
Inve
stm
ents
1,49
1,08
6,62
9
1,49
1,08
6,62
9
1,70
7,59
3,96
7
1,
707,
593,
967
Cas
h an
d C
ash
Equi
vale
nts
327,
792,
660
327,
792,
660
528,
777,
653
52
8,77
7,65
3
Tota
l Cur
rent
Ass
ets
4,67
5,53
2,69
5
4,59
9,35
7,95
6
9,51
9,05
9,64
4
9,
421,
808,
562
Tota
l Ass
ets
5,13
1,98
8,70
0
7,03
0,97
9,44
7
10,2
75,6
97,8
37
12,1
29,4
34,0
46
As s
tate
d in
Not
e 2.
1 to
the
Fina
ncia
l Sta
tem
ents
, the
se a
re th
e Bu
reau
’s fi
rst F
inan
cial
Sta
tem
ents
pre
pare
d in
acc
orda
nce
with
SLF
RSs
.
The
acco
untin
gpo
licie
sse
tout
inN
ote
3to
the
Fina
ncia
lSta
tem
ents
have
been
appl
ied
inpr
epar
ing
the
Fina
ncia
lSta
tem
ents
for
the
year
ende
d31
stD
ecem
ber
2012
,the
com
para
tive
info
rmat
ion
pres
ente
din
thes
eFi
nanc
ialS
tate
men
tsfo
rthe
year
ende
d31
stD
ecem
ber2
011
and
inth
epr
epar
atio
nof
anop
enin
gSL
FRS
Stat
emen
tofF
inan
cial
Posi
tion
asat
1stJa
nuar
y20
11(th
eBu
reau
’sda
teof
trans
ition
).
Inpr
epar
ing
itsop
enin
gSL
FRS
Stat
emen
tof
Fina
ncia
lPos
ition
,the
Bure
auha
sad
just
edam
ount
sre
porte
dpr
evio
usly
inFi
nanc
ialS
tate
men
tspr
epar
edin
acco
rdan
cew
ithSr
iLa
nka
Acc
ount
ing
Stan
dard
s/SL
ASs
(pre
viou
sG
AP)
.An
expl
anat
ion
ofho
wth
etra
nsiti
onfro
mSL
ASs
toSL
FRSs
hasa
ffect
edth
eBu
reau
’sfin
anci
alpo
sitio
nan
dfin
anci
alpe
rform
ance
isse
tout
inth
efo
llow
ing
tabl
esan
d th
e no
tes.
1st J
anua
ry 2
011
31st D
ecem
ber
2011
31
Page | 37
CE
NT
RA
L E
NG
INE
ER
ING
CO
NSU
LT
AN
CY
BU
RE
AU
NO
TE
S T
O T
HE
FIN
AN
CIA
L S
TA
TE
ME
NT
S (C
ON
TIN
UE
D)
FOR
TH
E Y
EA
R E
ND
ED
31S
T D
EC
EM
BE
R 2
012
28E
xpla
natio
n of
tran
sitio
n to
SL
FRS
and
LK
AS
CE
CB
Not
eSL
ASs
Re-
Mea
sure
men
tdu
e to
tran
sitio
nto
SL
FRs/
LK
ASs
Re-
Cla
ssifi
catio
n an
err
or
corr
ectio
n
SLFR
SsSL
ASs
Re-
Mea
sure
men
tdu
e to
tr
ansi
tion
to
SLFR
s/L
KA
Ss
Re-
Cla
ssifi
catio
n an
err
or
corr
ectio
n
SLFR
Ss
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Asse
tsNo
n-Cu
rren
t Ass
ets
Prop
erty
, Pla
nt a
nd E
quip
men
tE
386,
659,
295
1,9
75,1
65,4
86
2,36
1,82
4,78
1
692,
181,
546
1,95
0,98
7,29
1 2,
643,
168,
837
Inve
stm
ents
69,7
96,7
10
69,7
96,7
10
64,4
56,6
47
64
,456
,647
To
tal N
on-C
urre
nt A
sset
s45
6,45
6,00
5
2,
431,
621,
491
75
6,63
8,19
3
2,70
7,62
5,48
4
Curr
ent A
sset
sIn
vent
orie
s23
0,77
6,56
2
23
0,77
6,56
1
27
7,23
3,38
8
277,
233,
388
Tr
ade
and
Oth
er R
ecei
vabl
esF
2,62
5,87
6,84
4
(9
0,76
3,69
1)
14
,588
,953
2,
549,
702,
106
7,
005,
454,
635
(
111,
840,
034)
14,5
88,9
53
6,90
8,20
3,55
4
Sh
ort t
erm
Inve
stm
ents
1,49
1,08
6,62
9
1,49
1,08
6,62
9
1,70
7,59
3,96
7
1,
707,
593,
967
Cas
h an
d C
ash
Equi
vale
nts
327,
792,
660
327,
792,
660
528,
777,
653
52
8,77
7,65
3
Tota
l Cur
rent
Ass
ets
4,67
5,53
2,69
5
4,59
9,35
7,95
6
9,51
9,05
9,64
4
9,
421,
808,
562
Tota
l Ass
ets
5,13
1,98
8,70
0
7,03
0,97
9,44
7
10,2
75,6
97,8
37
12,1
29,4
34,0
46
As s
tate
d in
Not
e 2.
1 to
the
Fina
ncia
l Sta
tem
ents
, the
se a
re th
e Bu
reau
’s fi
rst F
inan
cial
Sta
tem
ents
pre
pare
d in
acc
orda
nce
with
SLF
RSs
.
The
acco
untin
gpo
licie
sse
tout
inN
ote
3to
the
Fina
ncia
lSta
tem
ents
have
been
appl
ied
inpr
epar
ing
the
Fina
ncia
lSta
tem
ents
for
the
year
ende
d31
stD
ecem
ber
2012
,the
com
para
tive
info
rmat
ion
pres
ente
din
thes
eFi
nanc
ialS
tate
men
tsfo
rthe
year
ende
d31
stD
ecem
ber2
011
and
inth
epr
epar
atio
nof
anop
enin
gSL
FRS
Stat
emen
tofF
inan
cial
Posi
tion
asat
1stJa
nuar
y20
11(th
eBu
reau
’sda
teof
trans
ition
).
Inpr
epar
ing
itsop
enin
gSL
FRS
Stat
emen
tof
Fina
ncia
lPos
ition
,the
Bure
auha
sad
just
edam
ount
sre
porte
dpr
evio
usly
inFi
nanc
ialS
tate
men
tspr
epar
edin
acco
rdan
cew
ithSr
iLa
nka
Acc
ount
ing
Stan
dard
s/SL
ASs
(pre
viou
sG
AP)
.An
expl
anat
ion
ofho
wth
etra
nsiti
onfro
mSL
ASs
toSL
FRSs
hasa
ffect
edth
eBu
reau
’sfin
anci
alpo
sitio
nan
dfin
anci
alpe
rform
ance
isse
tout
inth
efo
llow
ing
tabl
esan
d th
e no
tes.
1st J
anua
ry 2
011
31st D
ecem
ber
2011
31
Page | 38
CE
NT
RA
L E
NG
INE
ER
ING
CO
NSU
LT
AN
CY
BU
RE
AU
NO
TE
S T
O T
HE
FIN
AN
CIA
L S
TA
TE
ME
NT
S (C
ON
TIN
UE
D)
FOR
TH
E Y
EA
R E
ND
ED
31S
T D
EC
EM
BE
R 2
012
28E
xpla
natio
n of
tran
sitio
n to
SL
FRS
and
LK
AS
CE
CB
Not
eSL
ASs
Re-
Mea
sure
men
tdu
e to
tran
sitio
nto
SL
FRs/
LK
ASs
Re-
Cla
ssifi
catio
n an
err
or
corr
ectio
n
SLFR
SsSL
ASs
Re-
Mea
sure
men
tdu
e to
tr
ansi
tion
to
SLFR
s/L
KA
Ss
Re-
Cla
ssifi
catio
n an
err
or
corr
ectio
n
SLFR
Ss
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Asse
tsNo
n-Cu
rren
t Ass
ets
Prop
erty
, Pla
nt a
nd E
quip
men
tE
386,
659,
295
1,9
75,1
65,4
86
2,36
1,82
4,78
1
692,
181,
546
1,95
0,98
7,29
1 2,
643,
168,
837
Inve
stm
ents
69,7
96,7
10
69,7
96,7
10
64,4
56,6
47
64
,456
,647
To
tal N
on-C
urre
nt A
sset
s45
6,45
6,00
5
2,
431,
621,
491
75
6,63
8,19
3
2,70
7,62
5,48
4
Curr
ent A
sset
sIn
vent
orie
s23
0,77
6,56
2
23
0,77
6,56
1
27
7,23
3,38
8
277,
233,
388
Tr
ade
and
Oth
er R
ecei
vabl
esF
2,62
5,87
6,84
4
(9
0,76
3,69
1)
14
,588
,953
2,
549,
702,
106
7,
005,
454,
635
(
111,
840,
034)
14,5
88,9
53
6,90
8,20
3,55
4
Sh
ort t
erm
Inve
stm
ents
1,49
1,08
6,62
9
1,49
1,08
6,62
9
1,70
7,59
3,96
7
1,
707,
593,
967
Cas
h an
d C
ash
Equi
vale
nts
327,
792,
660
327,
792,
660
528,
777,
653
52
8,77
7,65
3
Tota
l Cur
rent
Ass
ets
4,67
5,53
2,69
5
4,59
9,35
7,95
6
9,51
9,05
9,64
4
9,
421,
808,
562
Tota
l Ass
ets
5,13
1,98
8,70
0
7,03
0,97
9,44
7
10,2
75,6
97,8
37
12,1
29,4
34,0
46
As s
tate
d in
Not
e 2.
1 to
the
Fina
ncia
l Sta
tem
ents
, the
se a
re th
e Bu
reau
’s fi
rst F
inan
cial
Sta
tem
ents
pre
pare
d in
acc
orda
nce
with
SLF
RSs
.
The
acco
untin
gpo
licie
sse
tout
inN
ote
3to
the
Fina
ncia
lSta
tem
ents
have
been
appl
ied
inpr
epar
ing
the
Fina
ncia
lSta
tem
ents
for
the
year
ende
d31
stD
ecem
ber
2012
,the
com
para
tive
info
rmat
ion
pres
ente
din
thes
eFi
nanc
ialS
tate
men
tsfo
rthe
year
ende
d31
stD
ecem
ber2
011
and
inth
epr
epar
atio
nof
anop
enin
gSL
FRS
Stat
emen
tofF
inan
cial
Posi
tion
asat
1stJa
nuar
y20
11(th
eBu
reau
’sda
teof
trans
ition
).
Inpr
epar
ing
itsop
enin
gSL
FRS
Stat
emen
tof
Fina
ncia
lPos
ition
,the
Bure
auha
sad
just
edam
ount
sre
porte
dpr
evio
usly
inFi
nanc
ialS
tate
men
tspr
epar
edin
acco
rdan
cew
ithSr
iLa
nka
Acc
ount
ing
Stan
dard
s/SL
ASs
(pre
viou
sG
AP)
.An
expl
anat
ion
ofho
wth
etra
nsiti
onfro
mSL
ASs
toSL
FRSs
hasa
ffect
edth
eBu
reau
’sfin
anci
alpo
sitio
nan
dfin
anci
alpe
rform
ance
isse
tout
inth
efo
llow
ing
tabl
esan
d th
e no
tes.
1st J
anua
ry 2
011
31st D
ecem
ber
2011
31
CE
NT
RA
L E
NG
INE
ER
ING
CO
NSU
LT
AN
CY
BU
RE
AU
NO
TE
S T
O T
HE
FIN
AN
CIA
L S
TA
TE
ME
NT
S (C
ON
TIN
UE
D)
FOR
TH
E Y
EA
R E
ND
ED
31S
T D
EC
EM
BE
R 2
012
28E
xpla
natio
n of
tran
sitio
n to
SL
FRS
and
LK
AS
CE
CB
Not
eSL
ASs
Re-
Mea
sure
men
tdu
e to
tran
sitio
nto
SL
FRs/
LK
ASs
Re-
Cla
ssifi
catio
n an
err
or
corr
ectio
n
SLFR
SsSL
ASs
Re-
Mea
sure
men
tdu
e to
tr
ansi
tion
to
SLFR
s/L
KA
Ss
Re-
Cla
ssifi
catio
n an
err
or
corr
ectio
n
SLFR
Ss
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Equi
ty a
nd L
iabi
litie
sC
ontri
bute
d C
apita
l50
0,00
0
(
0)50
0,00
0
500,
000
50
0,00
0
Cap
ital R
eser
ve12
,697
,551
12
,697
,551
12
,697
,552
12,6
97,5
51
Ret
aine
d Ea
rnin
gI
994,
155,
769
1,8
84,4
35,4
53
2
02,4
69,1
17
3,08
1,06
0,33
9
1,20
4,46
5,46
4
1,83
8,75
8,73
2
20
2,67
6,32
8 3,
245,
900,
524
Tota
l Equ
ity1,
007,
353,
320
3,
094,
257,
890
1,
217,
663,
015
3,25
9,09
8,07
5
Non
-Cur
rent
Lia
bilit
ies
Leas
e C
redi
tors
G3,
382,
044
(33
,659
)
-
3,34
8,38
5
35
,900
,303
388
,523
-
36
,288
,826
R
etire
men
t Ben
efit
Obl
igat
ion
172,
616,
158
172,
616,
158
203,
004,
443
20
3,00
4,44
3
Def
erre
d ta
x Li
abilit
yTo
tal N
on-C
urre
nt L
iabi
litie
s17
5,99
8,20
2
17
5,96
4,54
3
23
8,90
4,74
5
239,
293,
269
Cur
rent
Lia
bilit
ies
Trad
e an
d O
ther
Pay
able
sH
3,55
5,54
6,66
9
-
(187
,880
,164
)3,
367,
666,
505
8,
311,
914,
715
-
(
188,
087,
375)
8,12
3,82
7,34
0
In
com
e Ta
x Pa
yabl
es38
6,44
2,25
9
38
6,44
2,25
9
45
0,45
3,36
2
450,
453,
362
Le
ase
Cre
dito
rs-
-
-
-
In
ter B
ase
curr
ent a
ccou
nts
(153
,711
)
(1
53,7
11)
-
-
Inte
r com
pany
cur
rent
A/C
-
-
7,40
6,09
7
7,
406,
097
Bank
Ove
rdra
ft6,
801,
961
6,
801,
961
49,3
55,9
03
49
,355
,903
To
tal C
urre
nt L
iabi
litie
s3,
948,
637,
178
3,
760,
757,
014
8,
819,
130,
076
8,63
1,04
2,70
2
To
tal L
iabi
litie
s4,
124,
635,
380
3,
936,
721,
557
9,
058,
034,
822
8,87
0,33
5,97
1
To
tal E
quity
and
Lia
bilit
ies
5,13
1,98
8,70
0
7,03
0,97
9,44
7
10,2
75,6
97,8
37
12,1
29,4
34,0
46
1st J
anua
ry 2
011
31st D
ecem
ber
2011
34
Page | 39
CE
NT
RA
L E
NG
INE
ER
ING
CO
NSU
LT
AN
CY
BU
RE
AU
NO
TE
S T
O T
HE
FIN
AN
CIA
L S
TA
TE
ME
NT
S (C
ON
TIN
UE
D)
FOR
TH
E Y
EA
R E
ND
ED
31S
T D
EC
EM
BE
R 2
012
28E
xpla
natio
n of
tran
sitio
n to
SL
FRS
and
LK
AS
GO
RU
PN
ote
SLA
Ss R
e-M
easu
rem
ent
due
to tr
ansi
tion
to S
LFR
s/L
KA
Ss
Re-
Cla
ssifi
catio
n an
er
ror
corr
ectio
n
SLFR
SsSL
ASs
Re-
Mea
sure
men
tdu
e to
tr
ansi
tion
to
SLFR
s/L
KA
Ss
Re-
Cla
ssifi
catio
n an
err
or
corr
ectio
n
SLFR
Ss
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Rs.
Asse
tsNo
n-Cu
rren
t Ass
ets
Prop
erty
, Pla
nt a
nd E
quip
men
tE
386,
659,
295
1,97
5,16
5,48
6 2,
361,
824,
781
71
3,23
8,17
4
1,
950,
976,
103
-
2,
664,
214,
277
Inve
stm
ents
69,7
96,7
10
69,7
96,7
10
64,4
56,6
27
-
-
64
,456
,627
To
tal N
on-C
urre
nt A
sset
s45
6,45
6,00
5
2,
431,
621,
491
77
7,69
4,80
1
2,72
8,67
0,90
4
Curr
ent A
sset
sIn
vent
orie
s23
0,77
6,56
2
23
0,77
6,56
1
27
8,20
9,88
8
-
-
278,
209,
888
Tr
ade
and
Oth
er R
ecei
vabl
esF
2,62
5,87
6,84
4
(9
0,76
3,69
1)
14,5
88,9
53
2,54
9,70
2,10
6
9,37
5,74
2,25
1
(11
1,84
0,03
4)
1
3,29
8,00
8 9,
277,
200,
225
Shor
t ter
m In
vest
men
ts1,
491,
086,
629
1,
491,
086,
629
1,
707,
593,
967
-
-
1,70
7,59
3,96
7
C
ash
and
Cas
h Eq
uiva
lent
s32
7,79
2,66
0
32
7,79
2,66
0
61
5,20
8,77
0
-
-
615,
208,
770
Tota
l Cur
rent
Ass
ets
4,67
5,53
2,69
5
4,59
9,35
7,95
6
11,9
76,7
54,8
76
11,8
78,2
12,8
50
Tota
l Ass
ets
5,13
1,98
8,70
0
7,03
0,97
9,44
7
12,7
54,4
49,6
78
14,6
06,8
83,7
54
The
acco
untin
gpo
licie
sse
tout
inN
ote
3to
the
Fina
ncia
lSta
tem
ents
have
been
appl
ied
inpr
epar
ing
the
Fina
ncia
lSta
tem
ents
fort
heye
aren
ded
31st
Dec
embe
r201
2,th
eco
mpa
rativ
ein
form
atio
npr
esen
ted
inth
ese
Fina
ncia
lSta
tem
ents
fort
heye
aren
ded
31st
Dec
embe
r201
1an
din
the
prep
arat
ion
ofan
open
ing
SLFR
SSt
atem
ento
fFin
anci
alPo
sitio
nas
at1s
tJan
uary
2011
(the
Gro
up’s
date
of tr
ansi
tion)
.
Inpr
epar
ing
itsop
enin
gSL
FRS
Stat
emen
tofF
inan
cial
Posi
tion,
the
Gro
upha
sad
just
edam
ount
sre
porte
dpr
evio
usly
inFi
nanc
ialS
tate
men
tspr
epar
edin
acco
rdan
cew
ithSr
iLan
kaA
ccou
ntin
gSt
anda
rds/
SLA
Ss(p
revi
ous
GA
AP)
.An
expl
anat
ion
ofho
wth
etra
nsiti
onfro
mSL
ASs
toSL
FRSs
has
affe
cted
the
Gro
up’s
finan
cial
posi
tion
and
finan
cial
perfo
rman
ceis
seto
utin
the
follo
win
gta
bles
and
the
note
s.
As s
tate
d in
Not
e 2.
1 to
the
Fina
ncia
l Sta
tem
ents
, the
se a
re th
e G
roup
’s fi
rst F
inan
cial
Sta
tem
ents
pre
pare
d in
acc
orda
nce
with
SLF
RSs
.
1st J
anua
ry 2
011
31st D
ecem
ber
2011
33
Page | 40
CE
NT
RA
L E
NG
INE
ER
ING
CO
NSU
LT
AN
CY
BU
RE
AU
NO
TE
S T
O T
HE
FIN
AN
CIA
L S
TA
TE
ME
NT
S (C
ON
TIN
UE
D)
FOR
TH
E Y
EA
R E
ND
ED
31S
T D
EC
EM
BE
R 2
012
28E
xpla
natio
n of
tran
sitio
n to
SL
FRS
and
LK
AS
28.1
Exp
lana
tion
Not
es to
tran
sitio
n
AR
even
ue r
ecog
nitio
n
CEC
BG
OR
UP
31st
Dec
embe
r 201
131
st D
ecem
ber 2
011
Rs.
Rs.
Stat
emen
t of C
ompr
ehen
sive
Inco
me
Rev
enue
(21,
076,
342)
(21,
076,
342)
Adj
ustm
ent b
efor
e In
com
e T
ax(2
1,07
6,34
2)
(2
1,07
6,34
2)
Stat
emen
t of F
inan
cial
Pos
ition
Trad
e an
d O
ther
rece
ivab
le -
Am
ount
due
from
cus
tom
ers
(21,
076,
342)
(21,
076,
342)
Adj
ustm
ent t
o R
etai
ned
Ear
ning
s(2
1,07
6,34
2)
(2
1,07
6,34
2)
A.2
Rev
enue
- E
rror
cor
rect
ion
CEC
BG
OR
UP
31st
Dec
embe
r 201
131
st D
ecem
ber 2
011
Rs.
Rs.
Stat
emen
t of C
ompr
ehen
sive
Inco
me
Rev
enue
101,
785
101,
785
Adj
ustm
ent b
efor
e In
com
e T
ax10
1,78
5
10
1,78
5
The
bure
auha
sado
pted
apo
licy
tore
cogn
izin
gre
venu
efr
omva
riatio
n,w
hen
and
only
whe
nth
eva
riatio
nis
prob
able
,i.e
.whe
nth
eva
riatio
nis
appr
oved
byth
ecu
stom
eran
dth
eam
ount
of v
aria
tion
can
be m
easu
red
relia
bly.
CEC
B h
as n
ot re
cogn
ised
reve
nue
from
con
sulta
ncy
serv
ices
car
ried
out i
n 20
11 a
nd th
e un
reco
gnis
ed a
mou
nts w
as re
pres
ente
d in
am
ount
due
to c
usto
mer
s in
trade
and
oth
er p
ayab
le
35
Page | 41
CE
NT
RA
L E
NG
INE
ER
ING
CO
NSU
LT
AN
CY
BU
RE
AU
NO
TE
S T
O T
HE
FIN
AN
CIA
L S
TA
TE
ME
NT
S (C
ON
TIN
UE
D)
FOR
TH
E Y
EA
R E
ND
ED
31S
T D
EC
EM
BE
R 2
012
28E
xpla
natio
n of
tran
sitio
n to
SL
FRS
and
LK
AS
28.1
Exp
lana
tion
Not
es to
tran
sitio
n
AR
even
ue r
ecog
nitio
n
CEC
BG
OR
UP
31st
Dec
embe
r 201
131
st D
ecem
ber 2
011
Rs.
Rs.
Stat
emen
t of C
ompr
ehen
sive
Inco
me
Rev
enue
(21,
076,
342)
(21,
076,
342)
Adj
ustm
ent b
efor
e In
com
e T
ax(2
1,07
6,34
2)
(2
1,07
6,34
2)
Stat
emen
t of F
inan
cial
Pos
ition
Trad
e an
d O
ther
rece
ivab
le -
Am
ount
due
from
cus
tom
ers
(21,
076,
342)
(21,
076,
342)
Adj
ustm
ent t
o R
etai
ned
Ear
ning
s(2
1,07
6,34
2)
(2
1,07
6,34
2)
A.2
Rev
enue
- E
rror
cor
rect
ion
CEC
BG
OR
UP
31st
Dec
embe
r 201
131
st D
ecem
ber 2
011
Rs.
Rs.
Stat
emen
t of C
ompr
ehen
sive
Inco
me
Rev
enue
101,
785
101,
785
Adj
ustm
ent b
efor
e In
com
e T
ax10
1,78
5
10
1,78
5
The
bure
auha
sado
pted
apo
licy
tore
cogn
izin
gre
venu
efr
omva
riatio
n,w
hen
and
only
whe
nth
eva
riatio
nis
prob
able
,i.e
.whe
nth
eva
riatio
nis
appr
oved
byth
ecu
stom
eran
dth
eam
ount
of v
aria
tion
can
be m
easu
red
relia
bly.
CEC
B h
as n
ot re
cogn
ised
reve
nue
from
con
sulta
ncy
serv
ices
car
ried
out i
n 20
11 a
nd th
e un
reco
gnis
ed a
mou
nts w
as re
pres
ente
d in
am
ount
due
to c
usto
mer
s in
trade
and
oth
er p
ayab
le
35
Page | 42
CE
NT
RA
L E
NG
INE
ER
ING
CO
NSU
LT
AN
CY
BU
RE
AU
NO
TE
S T
O T
HE
FIN
AN
CIA
L S
TA
TE
ME
NT
S (C
ON
TIN
UE
D)
FOR
TH
E Y
EA
R E
ND
ED
31S
T D
EC
EM
BE
R 2
012
28E
xpla
natio
n of
tran
sitio
n to
SL
FRS
and
LK
AS
28.1
Exp
lana
tion
Not
es to
tran
sitio
n
BSt
aff l
oans
and
adv
ance
s
CEC
BG
OR
UP
31st
Dec
embe
r 201
131
st D
ecem
ber 2
011
Rs.
Rs.
Stat
emen
t of C
ompr
ehen
sive
Inco
me
Oth
er In
com
e3,
388,
394
3,
388,
394
A
djus
tmen
t bef
ore
Inco
me
Tax
3,38
8,39
4
3,38
8,39
4
B.1
Cla
ssifi
catio
n ch
ange
rsSt
atem
ent o
f Com
preh
ensi
ve In
com
eC
ECB
GO
RU
P31
st D
ecem
ber 2
011
31st
Dec
embe
r 201
1R
s.R
s.
Oth
er In
com
e(1
14,9
39,2
72)
(1
14,9
75,7
54)
Fina
nce
Inco
me
114,
939,
272
114,
975,
754
Adj
ustm
ent b
efor
e In
com
e T
ax-
-
As
perL
KA
S39
,all
finan
cial
inst
rum
ents
need
tobe
initi
ally
reco
gnis
edat
the
fair
valu
e.A
ccor
ding
lyst
affl
oans
give
nat
conc
essi
onar
yte
rms,
valu
edat
hist
oric
alco
stun
derp
revi
ous
SLA
S,w
ere
fair
valu
edus
ing
mar
keti
nter
estr
ates
.The
resu
lting
adju
stm
enth
asbe
enre
cogn
ised
aspr
epai
dst
affc
osta
ndam
ortis
edov
erth
ete
noro
fthe
loan
.The
inte
rest
onlo
ans
isre
cogn
ised
usin
gth
eef
fect
ive
inte
rest
rate
met
hod
and
the
staf
flo
ans
are
mea
sure
dat
amor
tised
cost
inth
eSt
atem
ento
fFi
nanc
ialP
ositi
on.T
heim
pact
aris
ing
from
the
chan
geis
sum
mar
ised
as f
ollo
ws.
CEC
B h
ad p
rese
nted
its i
nter
est i
ncom
e un
der "
oth
er in
com
e ",
how
ever
recl
assi
fy it
und
er fi
nanc
e in
com
e fo
r bet
ter p
rese
ntat
ion
36
Page | 43
CE
NT
RA
L E
NG
INE
ER
ING
CO
NSU
LT
AN
CY
BU
RE
AU
NO
TE
S T
O T
HE
FIN
AN
CIA
L S
TA
TE
ME
NT
S (C
ON
TIN
UE
D)
FOR
TH
E Y
EA
R E
ND
ED
31S
T D
EC
EM
BE
R 2
012
28E
xpla
natio
n of
tran
sitio
n to
SL
FRS
and
LK
AS
28.1
Exp
lana
tion
Not
es to
tran
sitio
n
CA
dmin
istr
atio
n ex
pens
esC
ECB
GO
RU
PSt
atem
ent o
f Com
preh
ensi
ve In
com
e31
st D
ecem
ber 2
011
31st
Dec
embe
r 201
1R
s.R
s.Im
pact
on
the
depr
ecia
tion
(Not
e E)
(15,
200,
050)
(15,
198,
523)
PPE
writ
e-of
f due
to u
nava
ilabi
lity
(8,4
48,4
12)
(8
,448
,412
)
PPE
writ
e-of
f due
to th
e ad
optio
n of
new
pol
icy
to w
rite
off a
ll PP
E Le
ss th
an 5
000
(529
,733
)
(5
42,4
48)
Staf
f loa
n ad
just
men
t (N
ote
B)
(3,3
88,3
94)
(3
,388
,394
)
Adj
ustm
ent b
efor
e In
com
e T
ax(2
7,56
6,58
9)
(2
7,57
7,77
7)
C.1
Adm
inis
trat
ion
expe
nses
- E
rror
cor
rect
ion
CEC
B h
as re
vers
ed a
pre
paym
ent a
mou
ntin
g to
Rs.1
05,4
26 e
rron
eous
ly id
entif
ied
in th
e ye
ar 2
011
Stat
emen
t of C
ompr
ehen
sive
Inco
me
CEC
BG
OR
UP
31st
Dec
embe
r 201
131
st D
ecem
ber 2
011
Rs.
Rs.
Adm
inis
tratio
n ex
pens
es10
5,42
6
10
5,42
6
A
djus
tmen
t bef
ore
Inco
me
Tax
105,
426
105,
426
DFi
nanc
e ex
pens
esC
ECB
GO
RU
PSt
atem
ent o
f Com
preh
ensi
ve In
com
e31
st D
ecem
ber 2
011
31st
Dec
embe
r 201
1
Rs.
Rs.
Fina
nce
expe
nses
(Not
e G
)(4
22,1
82)
(422
,182
)
A
djus
tmen
t bef
ore
Inco
me
Tax
(422
,182
)
(4
22,1
82)
EPr
oper
ty P
lant
and
Equ
ipm
ent
37
Page | 44
CE
NT
RA
L E
NG
INE
ER
ING
CO
NSU
LT
AN
CY
BU
RE
AU
NO
TE
S T
O T
HE
FIN
AN
CIA
L S
TA
TE
ME
NT
S (C
ON
TIN
UE
D)
FOR
TH
E Y
EA
R E
ND
ED
31S
T D
EC
EM
BE
R 2
012
28E
xpla
natio
n of
tran
sitio
n to
SL
FRS
and
LK
AS
28.1
Exp
lana
tion
Not
es to
tran
sitio
n
Stat
emen
t of F
inan
cial
Pos
ition
1st J
anua
ry 2
011
31st
Dec
embe
r 201
11s
t Jan
uary
201
131
st D
ecem
ber 2
011
Rs.
Rs.
Rs.
Rs.
Impa
ct o
n th
e de
prec
iatio
n-
(1
5,20
0,05
0)
-
(1
5,19
8,52
3)
PP
E w
rite-
off d
ue to
una
vaila
bilit
y(3
8,80
0,99
3)
(4
7,24
9,40
5.00
)
(3
8,80
0,99
3.00
)
(4
7,24
9,40
5)
PP
E w
rite-
off d
ue to
the
adop
tion
of n
ew p
olic
y to
writ
e of
f all
PPE
Less
than
500
0 (4
,630
,230
)
(5,1
59,9
63.0
0)
(4,6
30,2
30.0
0)
(5,1
72,6
78)
Im
pact
from
Rev
alua
tion
of a
sset
s2,
018,
596,
709
2,
018,
596,
709
2,
018,
596,
709.
21
2,01
8,59
6,70
9
Adj
ustm
ent t
o R
etai
ned
Ear
ning
s1,
975,
165,
486
1,
950,
987,
291
1,
975,
165,
486
1,
950,
976,
103
FTr
ade
rece
ivab
les
Stat
emen
t of F
inan
cial
Pos
ition
1st J
anua
ry 2
011
31st
Dec
embe
r 201
11s
t Jan
uary
201
131
st D
ecem
ber 2
011
Rs.
Rs.
Rs.
Rs.
Trad
e re
ceiv
able
(90,
763,
691)
(90,
763,
691)
(90,
763,
691)
(90,
763,
691)
Am
ount
due
from
cus
tom
ers (
Not
e A
)-
(2
1,07
6,34
3)
-
(2
1,07
6,34
3)
A
djus
tmen
t to
Ret
aine
d E
arni
ngs
(90,
763,
691)
(111
,840
,034
)
(90,
763,
691)
(111
,840
,034
)
F.1
Tra
de r
ecei
vabl
es -
Err
or c
orre
ctio
n
Stat
emen
t of C
ompr
ehen
sive
Inco
me
1st J
anua
ry 2
011
31st
Dec
embe
r 201
11s
t Jan
uary
201
131
st D
ecem
ber 2
011
Rs.
Rs.
Rs.
Rs.
Trad
e re
ceiv
able
(14,
588,
953)
(14,
588,
953)
(14,
588,
953)
(14,
588,
953)
Trad
e an
d O
ther
rece
ivab
le -
Am
ount
from
cus
tom
ers (
Not
e A
)-
-
-
1,
290,
945
A
djus
tmen
t to
Ret
aine
d E
arni
ngs
(14,
588,
953)
(14,
588,
953)
(14,
588,
953)
(13,
298,
008)
GFi
nanc
e le
ase
GO
RU
P
GO
RU
P
GO
RU
P
CEC
B h
ad re
ceiv
ed a
n am
ount
from
trad
e re
ceiv
able
in th
e ye
ar 2
010
whi
ch w
as p
rovi
ded
for d
oubt
ful d
ebts
in th
e sa
me
year
and
how
ever
the
prov
isio
n ha
d no
t bee
n de
reco
gnis
ed.
Erro
r cor
rect
ed in
yea
r 201
0
Und
er S
LFR
Ss, t
he C
ompa
ny te
st th
e im
pairm
ent f
or T
rade
Rec
eiva
bles
at s
peci
fic a
sset
leve
l.
CEC
B
CEC
B
CEC
B
Follo
win
gth
eex
empt
ions
gran
ted
unde
rSLF
RS
01-F
irstT
ime
Ado
ptio
nof
SriL
anka
Fina
ncia
lRep
ortin
gSt
anda
rdst
hebu
reau
hasc
hang
edits
acco
untin
gpo
licy
onas
sets
and
elec
ted
to a
pply
opt
iona
l exc
eptio
n to
use
the
reva
luat
ion
as d
eem
ed c
ost u
nder
SLF
RSs
.
38
Page | 45
CE
NT
RA
L E
NG
INE
ER
ING
CO
NSU
LT
AN
CY
BU
RE
AU
NO
TE
S T
O T
HE
FIN
AN
CIA
L S
TA
TE
ME
NT
S (C
ON
TIN
UE
D)
FOR
TH
E Y
EA
R E
ND
ED
31S
T D
EC
EM
BE
R 2
012
28E
xpla
natio
n of
tran
sitio
n to
SL
FRS
and
LK
AS
28.1
Exp
lana
tion
Not
es to
tran
sitio
n
Stat
emen
t of C
ompr
ehen
sive
Inco
me
1st J
anua
ry 2
011
31st
Dec
embe
r 201
11s
t Jan
uary
201
131
st D
ecem
ber 2
011
Rs.
Rs.
Rs.
Rs.
Leas
e cr
edito
r(3
3,65
9)
38
8,52
3
(3
3,65
9)
38
8,52
3
A
djus
tmen
t bef
ore
Inco
me
Tax
(33,
659)
388,
523
(33,
659)
388,
523
HT
rade
and
Oth
er P
ayab
le -
Err
or c
orre
ctio
n
Stat
emen
t of C
ompr
ehen
sive
Inco
me
1st J
anua
ry 2
011
31st
Dec
embe
r 201
11s
t Jan
uary
201
131
st D
ecem
ber 2
011
Rs.
Rs.
Rs.
Rs.
Trad
e Pa
yabl
e(1
87,8
80,1
64)
(1
88,0
87,3
75)
(1
87,8
80,1
64)
(1
88,0
87,3
75)
Trad
e an
d O
ther
pay
able
- A
mou
nt d
ue to
cus
tom
ers (
Not
e A
)-
-
-
42
1,20
8
A
djus
tmen
t to
Ret
aine
d E
arni
ngs
(187
,880
,164
)
(188
,087
,375
)
(187
,880
,164
)
(187
,666
,167
)
IE
quity
rec
onci
liatio
nTh
e im
pact
aris
ing
due
to a
bove
adj
ustm
ents
are
sum
mar
ised
as f
ollo
ws:
1st J
anua
ry 2
011
31st
Dec
embe
r 201
11s
t Jan
uary
201
131
st D
ecem
ber 2
011
Rs.
Rs.
Rs.
Rs.
Ret
aine
d E
arni
ngs R
epor
ted
at S
LA
S99
4,15
5,76
9
1,
204,
465,
464
99
4,15
5,76
9
1,
208,
107,
507
T
rans
ition
al A
djus
tmen
ts:
Leas
e Li
abili
ty33
,659
38
8,52
3
33
,659
(3
88,5
24)
Trad
e an
d O
ther
rece
ivab
le(9
0,76
3,69
1)
(1
11,8
40,0
34)
(9
0,76
3,69
1)
(1
11,8
40,0
34)
Prop
erty
Pla
nt a
nd E
quip
men
t1,
975,
165,
486
1,
950,
987,
291
1,
975,
165,
486
1,
950,
976,
103
Er
ror A
djus
tmen
ts
202,
469,
117
202,
676,
328
202,
469,
116
200,
964,
175
Ret
aine
d E
arni
ngs a
s per
SL
FRS/
LK
AS
3,08
1,06
0,34
0
3,24
6,67
7,57
1
3,08
1,06
0,33
9
3,24
7,81
9,22
7
CEC
B
CEC
B
GO
RU
P
GO
RU
P
GO
RU
P
Und
erpr
evio
usSL
AS,
the
bure
aure
cogn
ized
inte
rest
expe
nse
onle
ase
usin
gsu
mof
digi
tmet
hod
with
resp
ectt
oce
rtain
leas
eag
reem
ents
.With
the
trans
ition
toSL
FRS,
the
inte
rest
has
been
reco
mpu
ted
usin
g Ef
fect
ive
Inte
rest
Rat
e m
etho
d.
The
Bur
eau
has w
riteb
ack
all u
ndem
ande
d cr
edit
bala
nces
due
to c
usto
mer
mor
e th
an fi
ve y
ears
CEC
B
39
Page | 46
CE
NT
RA
L E
NG
INE
ER
ING
CO
NSU
LT
AN
CY
BU
RE
AU
NO
TE
S T
O T
HE
FIN
AN
CIA
L S
TA
TE
ME
NT
S (C
ON
TIN
UE
D)
FOR
TH
E Y
EA
R E
ND
ED
31S
T D
EC
EM
BE
R 2
012
28E
xpla
natio
n of
tran
sitio
n to
SL
FRS
and
LK
AS
28.1
Exp
lana
tion
Not
es to
tran
sitio
n
Stat
emen
t of C
ompr
ehen
sive
Inco
me
1st J
anua
ry 2
011
31st
Dec
embe
r 201
11s
t Jan
uary
201
131
st D
ecem
ber 2
011
Rs.
Rs.
Rs.
Rs.
Leas
e cr
edito
r(3
3,65
9)
38
8,52
3
(3
3,65
9)
38
8,52
3
A
djus
tmen
t bef
ore
Inco
me
Tax
(33,
659)
388,
523
(33,
659)
388,
523
HT
rade
and
Oth
er P
ayab
le -
Err
or c
orre
ctio
n
Stat
emen
t of C
ompr
ehen
sive
Inco
me
1st J
anua
ry 2
011
31st
Dec
embe
r 201
11s
t Jan
uary
201
131
st D
ecem
ber 2
011
Rs.
Rs.
Rs.
Rs.
Trad
e Pa
yabl
e(1
87,8
80,1
64)
(1
88,0
87,3
75)
(1
87,8
80,1
64)
(1
88,0
87,3
75)
Trad
e an
d O
ther
pay
able
- A
mou
nt d
ue to
cus
tom
ers (
Not
e A
)-
-
-
42
1,20
8
A
djus
tmen
t to
Ret
aine
d E
arni
ngs
(187
,880
,164
)
(188
,087
,375
)
(187
,880
,164
)
(187
,666
,167
)
IE
quity
rec
onci
liatio
nTh
e im
pact
aris
ing
due
to a
bove
adj
ustm
ents
are
sum
mar
ised
as f
ollo
ws:
1st J
anua
ry 2
011
31st
Dec
embe
r 201
11s
t Jan
uary
201
131
st D
ecem
ber 2
011
Rs.
Rs.
Rs.
Rs.
Ret
aine
d E
arni
ngs R
epor
ted
at S
LA
S99
4,15
5,76
9
1,
204,
465,
464
99
4,15
5,76
9
1,
208,
107,
507
T
rans
ition
al A
djus
tmen
ts:
Leas
e Li
abili
ty33
,659
38
8,52
3
33
,659
(3
88,5
24)
Trad
e an
d O
ther
rece
ivab
le(9
0,76
3,69
1)
(1
11,8
40,0
34)
(9
0,76
3,69
1)
(1
11,8
40,0
34)
Prop
erty
Pla
nt a
nd E
quip
men
t1,
975,
165,
486
1,
950,
987,
291
1,
975,
165,
486
1,
950,
976,
103
Er
ror A
djus
tmen
ts
202,
469,
117
202,
676,
328
202,
469,
116
200,
964,
175
Ret
aine
d E
arni
ngs a
s per
SL
FRS/
LK
AS
3,08
1,06
0,34
0
3,24
6,67
7,57
1
3,08
1,06
0,33
9
3,24
7,81
9,22
7
CEC
B
CEC
B
GO
RU
P
GO
RU
P
GO
RU
P
Und
erpr
evio
usSL
AS,
the
bure
aure
cogn
ized
inte
rest
expe
nse
onle
ase
usin
gsu
mof
digi
tmet
hod
with
resp
ectt
oce
rtain
leas
eag
reem
ents
.With
the
trans
ition
toSL
FRS,
the
inte
rest
has
been
reco
mpu
ted
usin
g Ef
fect
ive
Inte
rest
Rat
e m
etho
d.
The
Bur
eau
has w
riteb
ack
all u
ndem
ande
d cr
edit
bala
nces
due
to c
usto
mer
mor
e th
an fi
ve y
ears
CEC
B
39
CEN
TRAL
EN
GIN
EER
ING
CO
NSU
LTAN
CY
BU
REA
UN
OTE
S TO
TH
E FI
NAN
CIA
L ST
ATEM
ENTS
(CO
NTI
NU
ED)
FOR
TH
E YE
AR E
ND
ED 3
1ST
DEC
EMB
ER 2
012
29.0
Rel
ated
Par
ty T
rans
actio
ns
CEC
B29
.1
Tr
ansa
ctio
n w
ith S
ubsi
diar
ies
(a) C
entra
l Eng
inee
ring
Ser
vice
s (P
rivat
e) L
imite
d
Nat
ure
of th
e Tr
ansa
ctio
ns
Am
ount
2012
Rs.
Sub
Con
stru
ctio
n C
osts
(3,9
35,9
25,8
46)
V
ehic
le H
iring
Exp
ense
s(8
,887
,483
)
Bitu
men
Pur
chas
es o
n be
half
of C
ES
L25
2,57
7,97
6
M
achi
ne H
iring
Inco
me
100,
481,
421
Sal
ary
paym
ent r
eim
burs
emen
t Fu
nd tr
ansf
er10
8,62
4,68
9
La
b te
stin
g in
com
eC
onsu
ltanc
y fe
e co
stC
onst
ruct
ion
expe
nditu
re re
imbu
rsem
ent
Veh
icle
Mai
nten
ance
inco
me
658,
474
27.2
Term
s an
d co
nditi
ons
of tr
ansa
ctio
ns w
ith re
late
d pa
rties
Tran
sact
ions
with
Key
Man
agem
ent P
erso
nnel
CEC
BG
RO
UP
2012
2012
Rs.
Rs.
Com
pens
atio
n pa
id to
Key
Man
agem
ent P
erso
nnel
Sal
arie
s an
d ot
her E
mpl
oym
ent B
enef
its4,
004,
901
5,
360,
901.
00
28C
omm
itmen
ts a
nd c
ontin
genc
ies
GR
OU
P
Mr.
Nih
alR
upas
ingh
eis
the
chai
rman
ofth
ebo
thpa
rent
(CE
CB
)and
subs
idia
ry(C
ES
L)of
the
grou
pan
dM
r.M
.A.P
.Hem
acha
ndra
,Mr.S
.M.N
.L.S
enan
ayak
e,M
r.S
.S.E
diriw
eera
who
wer
eD
irect
ors
ofC
EC
Bas
at31
Dec
embe
r 201
2, w
ere
also
Dire
ctor
s C
ES
L . T
he C
ompa
ny h
as c
arrie
d ou
t tra
nsac
tions
with
CE
CB
dur
ing
the
year
, and
the
deta
ils w
ere
as fo
llow
s,
Furth
er, M
r. G
.D.A
Piy
athi
laka
and
Mr.
K.L
.S. S
ahab
andu
are
key
man
agem
ent p
erso
nal o
f CE
CB
and
als
o di
rect
ors
of C
ES
L
The
Inco
me
from
rela
ted
party
and
expe
nditu
rein
curre
dor
purc
hase
sfro
mre
late
dpa
rties
are
mad
eat
term
seq
uiva
lent
toth
ose
that
prev
aili
nar
m’s
leng
thtra
nsac
tions
.Out
stan
ding
bala
nces
atth
eye
ar-e
ndar
eun
secu
red
and
inte
rest
free
and
set
tlem
ent o
ccur
s in
cas
h. T
here
hav
e be
en n
o gu
aran
tees
pro
vide
d or
rece
ived
for a
ny re
late
d pa
rty re
ceiv
able
s or
pay
able
s.
LKA
S26
‘Rel
ated
Par
tyD
iscl
osur
es’,
Key
Man
agem
entP
erso
nnel
are
thos
eha
ving
auth
ority
and
resp
onsi
bilit
yfo
rpl
anni
ng,d
irect
ing
and
cont
rollin
gth
eac
tiviti
esof
the
entit
y.A
ccor
ding
ly,
the
Boa
rdof
Dire
ctor
s(in
clud
ing
Exe
cutiv
e an
d N
on-E
xecu
tive
Dire
ctor
s) a
s ke
y m
anag
emen
t per
sonn
el o
f the
Com
pany
/Gro
up h
ave
been
cla
ssifi
ed a
s K
ey M
anag
emen
t Per
sonn
el.
Ther
e w
ere
no m
ater
ial C
omm
itmen
ts a
nd C
ontin
gent
liab
ilitie
s in
CE
CB
or i
ts G
roup
as
at th
e re
porti
ng d
ate,
Exc
ept f
or th
e fo
llow
ing
40
Page | 47
Page | 48
Page | 49
Page | 50
Page | 51
Page | 52
Page | 53
Page | 54
Page | 55
Page | 56
Page | 57
Page | 58
Page | 59
Page | 60
CECB - New Head Office Building
Established in 1973 to provide engineering consultancy services. Contribute to major infrastructure development projects. Contributed to projects like, Victoria, Kothmale, Randenigala, Rantembe, Maduruoya, Canyon, Bowathenna, Samanalawewa, Kukule ganga and Kothmale dams.
Self finance from its origin, has operated successfully and contributed to the government
revenues. Skilled ,Experienced and highly motivated workforce ,Over 450 Engineers, Over 50
Architectures and Over 500 Technical officers. Expanded to construction sector (EPC) in 1995.Involved in construction of Building, Roads
Free Trade Zone, Economic Centers, Hospitals, Industrial Parks Etc.
Operation with twelve regional offices located Throughout the country Digana, Anuradhapura, Galle, Rathnapura, Badulla, Kantale, Ampara, Jawatta Battaramulla, Gampaha, Maharagama, Kilinochchi Post-war development partner with government Uthuru Wasanthaya Nagenahira Nawodaya Northern road rehabilitation project Conflict Affected Region Emergency Project (CARE)
Entered into the international market in 2007 Maldives, India, United Kingdom, Tanzania, Ruwanda, East Africa Region etc. Listing best 20 success state own enterprises (SOE) which were shown favorable financial
performance.
Since 2005 CECB has been shown constant growth of turnover and market share. The LMD is a one of pioneer business magazine, which has been the source of current business issues, management ideas and provide information on performance of both state own enterprises and private sector companies. LMD has been listing best 20 success state own enterprises every year based on financial and physical performance. CECB has been listed at 12th positions among the best 20 SOE's for the year ended 2011/12.
1. CECB – At a Glance
Page | 61
NATIONAL AWARD FOR GREEN CONSTRUCTION EXCELLENCE FOR THE YEAR 2013 FOR CONSTRUCTION OF BUILDING WITH EXCELLENT ENVIRONMENT PERFORMANCE FOR CECB HEAD OFFICE – PHASE II
Eng. N. Rupasinghe, the Chairman of Central Engineering Consultancy Bureau receiving the award presented by the Ministry of Construction, Engineering Services, Housing and Common Amenities from H.E President Mahinda Rajapaksa at Sugathadasa Stadium Colombo on 05th December 2013.
CECB WAS AWARDED FOR EXCELLENCE IN ENGINERING SERVICES BY THE INSTITUTION OF ENGINEERS, SRI LANKA Eng. K.L.S.Sahabandu, the General Manager of Central Engineering Consultancy Bureau receiving the award from Hon. Minister of Economic Development Basil Rajapaksa at Cinnamon Grand on 24th September 2013.
2. CECB – Recent Awards
Page | 62
GREEN BUILDING GOLD RATING AWARDED TO THE CECB HEAD OFFICE NEW BUILDING (PHASE II) ‘MAHAWELI WING’ AT COLOMBO 07, BY GREEN BUILDING COUNCIL OF SRI LANKA.
Eng. N. Rupasinghe, the Chairman of Central Engineering Consultancy Bureau receiving the award presented by the Green Building Council of Sri Lanka from Hon. Minister of Economic Development Basil Rajapaksa in the presence of Hon. Minister of Technology, Research and Atomic Energy Patali Champika Ranawaka at BMICH on 04th May 2014.
Certificate of Appreciation Presented to Central Engineering Consultancy Bureau by the Institute for Construction Training Development (ICTAD) for the professional contribution for the 2013 National Excellence Award Winning Project for the Sethsiripaya Stage II Premises .
Page | 63
entral Engineering Consultancy Bureau (CECB) was established on 12th April 1973 to
provide multi-disciplinary engineering consultancy services for water resources
development projects. It is a statutory body established under the State Industrial
Corporations Act No.49 of 1957.
The Bureau was at the forefront of some of the largest development projects in Sri Lanka and
is the premier consultancy organization in Sri Lanka with a wide range of expertise in
different engineering disciplines. CECB served as one of the key institutions in the
implementation of the Mahaweli Project (Cascade development of the largest river in Sri
Lanka). In the implementation of these multi billion Rupee projects, the Bureau was
associated with several international consultants and had developed strong engineering
competence and expertise through these associations. The Bureau was responsible for the
design and supervision of all project related infrastructure (access roads, bridges, buildings
and water supply) associated with the major hydropower and Irrigation projects. Socio
economic aspects (resettlement, community development) and environmental studies were an
integral part of all these major projects.
Since its inception, CECB has grown and expanded to become the largest Engineering
Consultancy establishment in Sri Lanka. Its main area of interest was Engineering
Consultancy which contributes about 80% to its turnover until 1994. However, with the
commencement of Construction Division (EPC Division) a rapid increment of turnover was
observed in the past few years. Presently the contribution to turnover from the EPC has
reached to 95% level and the operations have been expanded up to the level of Consultancy
Division.
C
3. Background of CECB
4. Growth and Expansion
Page | 64
CECB Financial Performance
-2,000 4,000 6,000 8,000
10,000 12,000 14,000
2006 2007 2008 2009 2010 2011 2012
Value LKR Million
Year
Total Construction & Consultancy RevenueProfit before Tax
It is evident that the Bureau is becoming a change agent of the public sector in multi disciplinary Engineering and has also been Branded as a Public Sector organization which has capability and capacity to handle any dicey situation on a fast-track basis on behalf of the Government. In other words it is the only Public Sector Engineering Organization with a strong Human Resource base that consists of multi-disciplinary professionals and Technical staff representing various Engineering disciplines. It should also be noted that our organization is trained to think ‘beyond Engineering’ solutions as an organization, CECB acts as a result oriented team dedicated for the service. The team comprises of two major groups, namely, the technical/engineering staff and non technical Staff. The staff is supported by teams of Para technical, technical, and secretarial staff who has a wide range of experience and skills in their respective fields.
Entry of private , foreign Engineering Consultancy and Construction firms into the Sri
Lankan market.
Withdrawal of certain concessions and preferential facilities earlier accorded to
CECB, has become major threats to the Bureau.
Other factors such as increased overheads, rising costs of site administration and
recently imposed statutory limitations.
Hence, it has become necessary to plan urgently for better performance and higher
productivity in the future years. This plan is an attempt by the senior staff of CECB to
achieve the intended improvement in performance.
5. Future Challenges
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It shall be truly beneficial for the country and CECB if the treasury direct its policies towards
the betterment of the local engineering industry without delay in keeping with the Presidents
concept of national productivity.
To keep up with the state of Art new technology, local and foreign specialized training for
the professional staff is absolutely necessary.
To provide a wide range of Engineering Consultancy, Construction and other related services,
CECB has a strong human resource base that consists of multi-disciplinary professional and
technical staff representing various disciplines such as:
Civil Engineering Water Management
Architectural Geo-technical Investigations
Structural Designs Hydro Power
Mechanical Work Electrical Work
Coastal and Marine Engineering Geology
Laboratory Investigations Technical Auditing
Transportation Water Supply and Sewerage
Power Generation Public Health
Information Technology Irrigation
Environmental Engineering
Specialist staff is supported by teams of Para technical, technical and secretarial staff who
have wide experience in their own fields.
7. Human Resources
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Building Services Hydro Power and Energy
Hospital Development Power Transmission and Distribution
Architectural Services Water Resource Development
Structural Designs Technical Audit / Dam Safety
Quantity Surveying Electrical & Mechanical Work
Roads and Bridges Land Surveying
Railway Works Geo-technical Investigation & Laboratory Services Port/ Coastal Works Environmental Studies
Airport Development Project Management
Water Supply and Drainage Information Technology (IT)
8. Specialized Areas & Services
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8. Specialized8. Specialized8. Special
9. Global and Local presence
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Library Building - Maldives
Uwa Wellassa University
The Bureau has been at the forefront of some of the largest
development projects in Sri Lanka and is the premier
consultancy organization in Sri Lanka with a wide range of
expertise in different engineering disciplines. CECB served as
one of the key institutions in the implementation of the
Mahaweli Project (cascade development of the largest river
in Sri Lanka). In the implementation of these multi billion Rupee
projects, the Bureau was associated with several international
consultants and had developed strong engineering competence
and expertise through these associations. The Bureau was responsible for the design and supervision of all project related infrastructure (access roads, bridges, buildings and water supply) associated with the major hydropower and Irrigation projects. Socio economic Aspects (resettlement, Community development) and environmental studies were an integral part of all these major projects.
• Northern Roads A009 AB020 AB032 AB016 AB018 B297 B334 B296
Northern Road Rehabilitation Project
• Project cost: LKR 66000 million
6. History and Scope of CECB
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CECB Head OfficeWon ICTAD Green Building Award for 2013
Floor Area: 2750 Sq mCost: LKR 250 million
Project cost: LKR 3,960million
Sethsiripaya Stage II Administrative Complex at BattaramullaWon the Excellence Award in 2013
Floor Area: 42,000 Sq m
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Project cost: LKR 3,960million
Sethsiripaya Stage II Administrative Complex at BattaramullaWon the Excellence Award in 2013
Floor Area: 42,000 Sq m
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CESL BOARD OF DIRECTORS
Eng. Nihal Rupasinghe Eng. S.S. Ediriweera Eng. G.H. Pathmasiri Eng. K.L.S. Sahabandu
BSc. (Hons), PG Dip. (Hy- dro power) Norway,
C. Eng., MIE (SL), MICE (London), Licd. Surveyor, Managing Director of the CESL.
BSc. Eng MIE (SL), C. Eng. Executive Director of the CESL.
Bsc. Eng, C. Eng, MIE (SL), MICE (Lon), Pg. Dip. (Hydraulics), Pg. Dip. (Cost. Mgt), Director of the CECB
Bsc. Eng. (Hons), PG Dip. (Hyd.), Msc. (Struct. Eng.), C. Eng., MIE (SL), MICE (London), M Cons E (SL), MSSE (SL), Director of the CESL
Eng. M.A.P. Hemachandra Mr. S.M.N.L. Senanayake Eng. G.D.A. Piyathilake F.I.E.D.(SL), M.I.E.E., M.I. Prod.E, Director of the CESL. Bsc.Dip. Mgt.,FCA, He is a
Charted Accountant, of the Tudor V. Perera & Com- pany (Charted Accounts) 103 1/3, De Mel Mawatha, Chanthanam Street, Colom- bo 01, Director of the CESL
Bsc. Eng., PG Dip. (Const. Mgt.), PG Dip. (Norway), C. Eng., MIE (SL), MASCE, Director of the CESL.
Eng. B.W.N Rupasinghe
BSc.Eng., MSc.Eng, PGDip.,(Econ),MA(ECON),MIE(SL),MIEE,M Cons E(SL)Director of the CESL.
Eng. K.L.S. Sahabandu
BSc.Eng.(Hons), MSc.Eng, PGDip.(Hyd). Msc. (Struct. Eng.), C.Eng (Econ),MIE(SL),MICE(London), M Cons E(SL), MSSE (SL), Director of the CESL.
Page | 2
CESL BOARD OF DIRECTORS
Eng. Nihal Rupasinghe Eng. S.S. Ediriweera Eng. G.H. Pathmasiri Eng. K.L.S. Sahabandu
BSc. (Hons), PG Dip. (Hy- dro power) Norway,
C. Eng., MIE (SL), MICE (London), Licd. Surveyor, Managing Director of the CESL.
BSc. Eng MIE (SL), C. Eng. Executive Director of the CESL.
Bsc. Eng, C. Eng, MIE (SL), MICE (Lon), Pg. Dip. (Hydraulics), Pg. Dip. (Cost. Mgt), Director of the CECB
Bsc. Eng. (Hons), PG Dip. (Hyd.), Msc. (Struct. Eng.), C. Eng., MIE (SL), MICE (London), M Cons E (SL), MSSE (SL), Director of the CESL
Eng. M.A.P. Hemachandra Mr. S.M.N.L. Senanayake Eng. G.D.A. Piyathilake F.I.E.D.(SL), M.I.E.E., M.I. Prod.E, Director of the CESL. Bsc.Dip. Mgt.,FCA, He is a
Charted Accountant, of the Tudor V. Perera & Com- pany (Charted Accounts) 103 1/3, De Mel Mawatha, Chanthanam Street, Colom- bo 01, Director of the CESL
Bsc. Eng., PG Dip. (Const. Mgt.), PG Dip. (Norway), C. Eng., MIE (SL), MASCE, Director of the CESL.
Page | 2
CESL BOARD OF DIRECTORS
Eng. Nihal Rupasinghe Eng. S.S. Ediriweera Eng. G.H. Pathmasiri Eng. K.L.S. Sahabandu
BSc. (Hons), PG Dip. (Hy- dro power) Norway,
C. Eng., MIE (SL), MICE (London), Licd. Surveyor, Managing Director of the CESL.
BSc. Eng MIE (SL), C. Eng. Executive Director of the CESL.
Bsc. Eng, C. Eng, MIE (SL), MICE (Lon), Pg. Dip. (Hydraulics), Pg. Dip. (Cost. Mgt), Director of the CECB
Bsc. Eng. (Hons), PG Dip. (Hyd.), Msc. (Struct. Eng.), C. Eng., MIE (SL), MICE (London), M Cons E (SL), MSSE (SL), Director of the CESL
Eng. M.A.P. Hemachandra Mr. S.M.N.L. Senanayake Eng. G.D.A. Piyathilake F.I.E.D.(SL), M.I.E.E., M.I. Prod.E, Director of the CESL. Bsc.Dip. Mgt.,FCA, He is a
Charted Accountant, of the Tudor V. Perera & Com- pany (Charted Accounts) 103 1/3, De Mel Mawatha, Chanthanam Street, Colom- bo 01, Director of the CESL
Bsc. Eng., PG Dip. (Const. Mgt.), PG Dip. (Norway), C. Eng., MIE (SL), MASCE, Director of the CESL.
Page | 2
CESL BOARD OF DIRECTORS
Eng. Nihal Rupasinghe Eng. S.S. Ediriweera Eng. G.H. Pathmasiri Eng. K.L.S. Sahabandu
BSc. (Hons), PG Dip. (Hy- dro power) Norway,
C. Eng., MIE (SL), MICE (London), Licd. Surveyor, Managing Director of the CESL.
BSc. Eng MIE (SL), C. Eng. Executive Director of the CESL.
Bsc. Eng, C. Eng, MIE (SL), MICE (Lon), Pg. Dip. (Hydraulics), Pg. Dip. (Cost. Mgt), Director of the CECB
Bsc. Eng. (Hons), PG Dip. (Hyd.), Msc. (Struct. Eng.), C. Eng., MIE (SL), MICE (London), M Cons E (SL), MSSE (SL), Director of the CESL
Eng. M.A.P. Hemachandra Mr. S.M.N.L. Senanayake Eng. G.D.A. Piyathilake F.I.E.D.(SL), M.I.E.E., M.I. Prod.E, Director of the CESL. Bsc.Dip. Mgt.,FCA, He is a
Charted Accountant, of the Tudor V. Perera & Com- pany (Charted Accounts) 103 1/3, De Mel Mawatha, Chanthanam Street, Colom- bo 01, Director of the CESL
Bsc. Eng., PG Dip. (Const. Mgt.), PG Dip. (Norway), C. Eng., MIE (SL), MASCE, Director of the CESL.
Page | 2
CESL BOARD OF DIRECTORS
Eng. Nihal Rupasinghe Eng. S.S. Ediriweera Eng. G.H. Pathmasiri Eng. K.L.S. Sahabandu
BSc. (Hons), PG Dip. (Hy- dro power) Norway,
C. Eng., MIE (SL), MICE (London), Licd. Surveyor, Managing Director of the CESL.
BSc. Eng MIE (SL), C. Eng. Executive Director of the CESL.
Bsc. Eng, C. Eng, MIE (SL), MICE (Lon), Pg. Dip. (Hydraulics), Pg. Dip. (Cost. Mgt), Director of the CECB
Bsc. Eng. (Hons), PG Dip. (Hyd.), Msc. (Struct. Eng.), C. Eng., MIE (SL), MICE (London), M Cons E (SL), MSSE (SL), Director of the CESL
Eng. M.A.P. Hemachandra Mr. S.M.N.L. Senanayake Eng. G.D.A. Piyathilake F.I.E.D.(SL), M.I.E.E., M.I. Prod.E, Director of the CESL. Bsc.Dip. Mgt.,FCA, He is a
Charted Accountant, of the Tudor V. Perera & Com- pany (Charted Accounts) 103 1/3, De Mel Mawatha, Chanthanam Street, Colom- bo 01, Director of the CESL
Bsc. Eng., PG Dip. (Const. Mgt.), PG Dip. (Norway), C. Eng., MIE (SL), MASCE, Director of the CESL.
Page | 73
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