Company Profile First Capital Holdings PLC I 1
Name of Company First Capital Holdings PLC Name of Subsidiaries First Capital Treasuries Limited First Capital Limited First Capital Asset Management Limited First Capital Markets Limited First Capital Equities (Private) Limited Legal Form Public Limited Liability Company Listed on the Colombo Stock Exchange Company Registration Number PQ 44 Registered Office No. 2, Deal Place, Colombo 3, Sri Lanka Secretaries K H L Corporate Services Limited No. 2, Deal Place, Colombo 3 T: +94 11 2639807, +94 11 2639898 Registrars SSP Corporate Services (Private) Limited No. 101, Inner Flower Road, Colombo 03 T: +94 11 2573894 Lawyers Neelakandan & Neelakandan Attorneys - at - Law and Notaries Public M&N Building (Level 5) No. 2, Deal Place, Colombo 3 Auditors KPMG Chartered Accountants 32 A, Sir Mohamad Macan Marker Mawatha P.O. Box 186, Colombo 03 Principal Bankers Bank of Ceylon Commercial Bank of Ceylon PLC Hatton National Bank PLC Peoples Bank Seylan Bank PLC Branches Matara, Kandy, Kurunegala *Company Profile as at 31st March 2015
SNAPSHOT OF 2014 Innovative Products u We place great emphasis on delivering profitable investment solutions through the introduction of pioneer new products and landmark deals Platinum bonds a long-term, fixed-return gilt investment, becoming the first primary dealer in Sri Lanka to launch a repo investment option backed by Government securities Sri Lanka s first AAA rated debenture, the first foreign guaranteed debenture (guaranteed by GuarantCo) The first insurance company guaranteed debenture (guaranteed by Janashakthi Insurance PLC) First Capital Equities Private Limited Our research reports are recognized as reliable and tactical resources by clients and corporates alike. First Capital Asset Management Limited First Capital Wealth Fund has established itself as the best performing Fixed Income Unit Trust fund in Sri Lanka ending 2013 with a 14.93% yield and 2014 with a 19.84% yield. The unit succeeded to grow by four-fold funds under its management from Jan-Dec 2014. Revolutionary microfinance receivables-backed securitisation First Capital Treasuries Limited As the country s first and largest non-bank primary dealer, First Capital Treasuries Limited retains the position of front runner by consistently providing expertise insight and understanding gained from holding the largest capital base valued at over LKR 1.5 Bn and a large net trading income of over LKR 1 Bn giving us a unique advantage. The unit successfully completed an issue of listed debentures of LKR 0.5 Bn making it the first listed Primary Dealer in the country, with a rating of A-. First Capital Limited Spearheading every aspect of our operations, First Capital Limited Sri Lanka s leading manager for listed debenture issues (2014/2015), mobilized over LKR 20 Bn in corporate debt securities, including acting as manager to LKR 9.4 Bn listed debenture issues. Ranked the top intermediary in secondary market listed debenture trading by the Colombo Stock Exchange, with a turnover of LKR 1.8 Bn from 1st April 2014 to 31st December 2014. First Capital Holdings PLC I 3
INTRODUCTION : First Capital emerged in the early 80 s as a pioneer of Sri Lanka s primary dealing arena dealing in Government Securities. Capitalizing on an entrepreneurial mindset we have since transformed into the full service investment bank we are today. We are listed and traded at the Colombo Stock Exchange and our business lines are regulated by the Central Bank of Sri Lanka, The Securities and Exchange Commission of Sri Lanka and The Colombo Stock Exchange. Sector expertise and client focus help us craft objective capital market solutions. We navigate through complex strategic and financial issues to offer bespoke advisory services. Our range of services include Capital Markets and Advisory Fixed Income Equities Asset Management We offer objective advice and transaction execution relating to capital raising and other strategic needs including mergers and acquisitions. We are active in the areas of fixed income and equities providing both investment products and trading solutions. We serve institutional and individual asset management needs through unit trust investments and tailored wealth management solutions. Guiding Principles Our guiding principles form the foundation for our productivity and professionalism. They drive us to provide a comprehensive suite of investment banking services, continually holding integrity and ethics as cornerstone. Vision Our vision is to be the leading Investment Bank in Sri Lanka. Mission Our mission is to deliver innovative and profitable investment solutions to our clients, continuously improving processes and technology, whilst developing the talent of our employees to produce superior and sustained shareholder returns. Why First Capital? We are distinguished by our exemplary work ethic. First Capital has been present in the local market for over 30 years. Our name is synonymous with long term client relationships and enduring trust. We believe in growing on the foundation of our legacy whilst evolving to suit the dynamic needs of our clients. At First Capital our work ethic does not only signify productivity but also embodies the virtues of integrity, professionalism and adherence to the highest ethical standard. The trust placed in us and the resilience of our relationships thrive on this philosophy. We are committed to our client-centric business model. Realising, optimising and driving value for both our corporate and individual clients through a multitude of services and products is our primary focus. In doing so, we continually align our interests with that of our clients so as to avoid the many conflicts of interest inherent to our line of business. We believe in building long-term relationships and have an all pervading interest to create, protect and grow the capital entrusted in us. Our independence and objectivity whilst providing tailored to fit solutions results in continued business referrals. The integrity of our multiservice business platform depends on such recognition and in turn provides our team the necessary impetus to focus on our clients. We possess Unique Market Insight and Execution Ability. We are distinguished by deep industry knowledge and senior relationships extending to several financial services. We transfer to our clients the expertise and insight gained through advising transactions and investments over three decades. Our ability to match the right parties to execute investment banking transactions as well as provide fitting investment opportunities to our clients, both institutional and individual, is exceptional. Ours is a Highly Skilled and Hands on Senior Team. Our senior professionals have significant transaction experience and current industry knowledge. When it comes to investment banking transactions, our senior resources will work closely with clients to leave no stone unturned. Further, in providing our clients exciting investment alternatives, they act as continuous innovators and trusted advisors. 4 I First Capital Holdings PLC
Ownership and Management Board of Directors Ms. Manjula Mathews FCMA, MBA Executive Chairperson Ms. Mathews brings to the Board over 20 years experience in General Management and Finance, both in Sri Lanka and overseas. She currently serves as Executive Chairperson of Dunamis Capital PLC and other Dunamis subsidiaries and served as Managing Director of the Dunamis group until 24 September 2014. Ms. Mathews was formerly the Finance Director at Janashakthi Insurance PLC, one of the leading insurers in the country where she continues to hold a Non- Executive position. She is a Fellow Member of the Chartered Institute of Management Accountants of UK and holds a Masters Degree in Business Administration from the University of Cambridge (UK). Mr. Dinesh Schaffter ACMA, LLB (UK) Managing Director Mr. Dinesh Schaffter counts over 20 years experience in the Financial Services and Manufacturing sectors. He currently serves as the Managing Director of Dunamis Capital PLC and other Dunamis subsidiaries. Mr. Schaffter is an Associate Member of the Chartered Institute of Management Accountants (UK), and holds a Bachelor of Laws Honours Degree (LLB) from the United Kingdom. Mr. A. D. E. I. Perera Chartered Marketer Director Mr. A. D. E. I. Perera is a Chartered Marketer and a Graduate of the Chartered Institute of Marketing, UK, with over 40 years of experience in management. He has undergone management training in UK, Sweden, South Korea, India, the Philippines and Singapore. Currently, he is the Non-Executive Chairman of M&E (Private) Limited and a Non-Executive Director of Dunamis Capital PLC, First Capital Holdings PLC, Keells Food Products PLC, Janashakthi Insurance PLC, Janashakthi PLC, Sting Consultants (Private) Limited, Brand Finance Lanka (Private) Limited, MAS Tropical Foods (Private) Limited and United Motors PLC. He is also a member on the Board of Study of the Postgraduate Institute of Management, University of Sri Jayewardenepura (PIM) and is actively engaged in management education and consultancy. Ms. Minette D. A. Perera FCA, FCMA, FCCA Director Ms. Minette D. A. Perera was the Group Finance Director of the MJF Group, which comprises of several tea growing, packing and exporting companies, supplying the Dilmah Tea brand around the world, from September 2000 till March 2013. During the period of her employment with the MJF Group she was appointed a Director of the MJF Group of Companies including MJF Holdings Limited and held the Board positions till December 2014. She has also held board positions before joining the MJF Group. Ms. Perera currently serves on the Board of First Capital Holdings PLC and Orient Finance PLC as an independent non executive Director and also serves as a Director of the subsidiaries of First Capital Holdings PLC namely First Capital Limited, First Capital Markets Limited, First Capital Asset Management Limited, First Capital Equities (Private) Limited and First Capital Investments (Private) Limited. Ms. Perera is on the Board of Ceylon Tea Services PLC since September 2000, Kahawatte Plantations PLC since January 2001 and Talawakelle Tea Estates PLC since January 2012. Ms. Perera is a Fellow Member of the Institute of Chartered Accountants of Sri Lanka, the Chartered Institute of Management Accountants of UK and the Association of Chartered Certified Accountants of UK. She has over 35 years working experience as a qualified accountant having worked in leading local and international companies as an Executive Director. Mr. Nishan Fernando FCA, ACMA, MBA (University of Sri Jayewardenepura) Director Mr. Nishan Fernando is a Fellow member of the Institute of Chartered Accountants of Sri Lanka, an Associate Member of the Chartered Institute of Management Accountants (CIMA) of UK and holder of an MBA from the Postgraduate Institute of Management of the University of Sri Jayewardenepura. He has officiated as Independent Director/Chairman Audit Committee of Browns Investments PLC, as President, Vice President and Council Member of the Institute of Chartered Accountants of Sri Lanka, as a Commission Member of the Securities & Exchange Commission of Sri Lanka, as a member of the Sri Lanka Accounting and Auditing Standards Monitoring Board and since 2009 has been functioning as Chairman of First Capital Holdings PLC I 5
the Statutory Accounting Standards Committee which promulgates the Accounting Standards in Sri Lanka. Mr. Fernando has also gained valuable experience as a member of the International Accounting Education Standards Board of the International Federation of Accountants (IFAC) and currently serving as a member of its Consultative Advisory Group. Mr. Fernando counts over 20 years of experience holding senior positions in the fields of Accounting and Finance. He also serves as a Director of BDO Consulting (Private) Limited and First Capital Holdings PLC and its subsidiaries. Mr. Chandana de Silva FCA (England & Wales), FCA (Sri Lanka) Director Mr. Chandana de Silva has held several senior management positions including that of Chief Financial Officer for Level (3) Communications in Europe a NASDAQ quoted company and Head of Financial Planning for British Telecommunications PLC. Since moving back to Sri Lanka in 2002 he has worked for MAS Holdings in a variety of roles and established the Supply Chain Management function, set up the MAS training centre and until December 2011 was the Chief Executive Officer of the MAS Investment Division. He serves as a management consultant to clients in the investment, manufacturing, property development and IT sectors and is on the Board of Hemas Transportation (Private) Limited, Eureka Technologies (Private) Limited, 24/7 Techies (Private) Ltd, and Sea-Change Partners Lanka (Private) Limited. He also serves as a Director of Dunamis Capital PLC, Kelsey Developments PLC, Premier Synthetic Leather Manufacturers (Private) Limited, First Capital Holdings PLC and its subsidiaries. Mr. de Silva is a Fellow Member of the Institute of Chartered Accountants in England and Wales and in Sri Lanka and holds a Degree in Mathematics and Management from the University of London. Management Team Mr. Dinesh Schaffter ACMA, LLB (UK) Managing Director Mr. Dinesh Schaffter counts over 20 years experience in the Financial Services and Manufacturing sectors. He currently serves as the Managing Director of Dunamis Capital PLC and other Dunamis subsidiaries. Mr. Schaffter is an Associate Member of the Chartered Institute of Management Accountants (UK), and holds a Bachelor of Laws Honours Degree (LLB) from the United Kingdom. Mr. Dilshan Wirasekara Chief Executive Officer Mr. Dilshan Wirasekara is an experienced financial services professional having worked in investment banking and leading commercial banks in Sri Lanka. He has over 18 years of overall experience in financial services spanning both debt and equity related businesses. Possessing specialist Treasury expertise he was the General Manager of Softlogic Capital PLC, the financial services holding Company of the diversified Softlogic Group and was instrumental in securing major investments from overseas Development Financial Institutions to the firm as well as being in charge of all investment and trading portfolios spanning the subsidiaries that included a Licensed Finance Company, Composite Insurer and Equity Brokerage. He was formerly the Head of Treasury of Nations Trust Bank PLC and spearheaded the unit in achieving market maker status as an interbank counterparty delivering exponential profit growth. Prior to that, he was attached to the Treasury Division of Pan Asia Bank PLC. He has undergone extensive training both locally and overseas specialising in Asset and Liability Risk Management and has the rare honour of leading and representing two Sri Lankan companies to winning the International Bank Asset and Liability competition held each year by FMO, DEG and Proparco. Mr. Jaliya Wijerathne Chief Executive Officer First Capital Equities (Pvt) Ltd Contact : +94 71 5329602 jaliya@firstcapital.lk Mr. Jaliya Wijerathne is the CEO of the stockbroking arm of First Capital Group. Mr. Wijerathne has over two decades of experience in Investment Advisory, Fund and Portfolio Management and his strengths emanate from previously held positions as Senior Investment Advisor at Commercial CBC Crosby Capital (Private) Limited, Senior Manager Sales at DFCC Stock Brokers (Private) Limited, Director Institutional Sales at SMB Securities (Private) Limited and Chief Executive Officer and Director Institutional and Foreign Trades of New World Securities (Private) Limited. 6 I First Capital Holdings PLC
Ms. Suhini Fernando Assistant General Manager / Chief Dealer Contact : +94 77 7702656 suhini@firstcapital.lk Ms. Suhini Fernando possesses over 15 years of dealing experience in the financial markets of Sri Lanka. She commenced her career as a Trainee Money Broker. After completing 4 years in Money Broking, she joined Seylan Bank Asset Management Limited, a Primary Dealer in the capacity of a Trainee Dealer. Since then, she has gathered wide knowledge and experience in managing the deal book of an active Primary Dealing Unit as well as managing the investment needs of sophisticated corporate and institutional investors. She holds a Master in Business Administration (MBA) from University of Bolton UK. Mr. Dinesh Fernando Senior Manager First Capital Asset Management Limited Contact : +94 77 3856889 dineshf@firstcapital.lk Mr. Dinesh Fernando has over has over 20 years of experience in Sri Lanka and abroad covering fixed income and equity portfolio management, equity and credit research, investment banking, advisory services, project financing, commercial banking, and audit. He has previously worked for NDB Investment Bank, HSBC, Standard Chartered Bank, DFCC Bank, First Guardian Equities, and KPMG. Mr. Fernando was a Fund Manager at National Asset Management Limited prior to joining First Capital Asset Management. He is a CFA Charter holder. Mr. Dimantha Mathew Senior Manager Research Contact : +94 77 7345679 dimantha@firstcapital.lk Mr. Dimantha Mathew has over 10 years work experience with over 8 years in the investment banking space in Sri Lanka with extensive exposure in equity research, portfolio management and restructuring, corporate finance and advisory services. He has experience in sourcing funding for specific projects and corporates. Mr. Mathew holds an MBA from the University of Wales and also holds ACMA and CGMA qualifications. He has a Bachelor of Law Degree from the University of London and is an Attorney at Law in Sri Lanka. Prior to joining First Capital, Mr. Mathew was the Head of Research at Softlogic Stockbrokers. He had also worked at Capital Alliance and John Keells Stockbrokers. Mr. Kosala Liyanagedara Senior Manager Business Development and Corporate Planning / Corporate Advisory Contact : +94 77 7230788 kosala@firstcapital.lk Mr. Kosala Liyanagedara is an Associate Member of the Institute of Chartered Accountants of Sri Lanka (CA, Sri Lanka), an Associate Member of the Chartered Institute of Management Accountants of UK (CIMA) and holds a B.Sc. Accountancy (Hons) Degree (1st Class) from the University of Sri Jayewardenepura and is currently reading for his MBA at the Postgraduate Institute of Management (PIM). Mr. Liyanagedara joined the First Capital Group in September 2009 as Assistant Manager Finance and Planning. In April 2012, he was promoted to the Finance Manager of the Group with responsibility for financial reporting and financial planning. In April 2014, he assumed the current position, reporting directly to the Group CEO, where he is responsible for business development of all business units and Corporate Planning. He works along with the Chief Financial Officer to develop and implement the Group Strategic Plan and Annual Operating Plan. He commenced his career at KPMG in Sri Lanka, where he obtained exposure in audit and assurance services of different industry segments including licensed commercial banks and other financial institutions. He possesses diverse professional experience of more than 8 years in accounting, auditing, taxation, finance and planning. Ms. Sewwandi Kathriarachchi Senior Manager Margin Trading and Dealing Securities Contact : +94 77 3461734 sewwandi@firstcapital.lk Ms. Sewwandi Kathriarachchi possesses more than 13 years of experience in numerous key areas relating to Fixed Income Securities. This includes operations relating to Government Securities, Asset Management and Unit Trust First Capital Holdings PLC I 7
Management, relationship management on high net worth individuals in Asset Management and Unit Trusts, and overall front office exposure in structuring and placing of Corporate Debt Securities and Money Market dealing. Mr. Naveen Samarasekera Manager Corporate Debt Contact : +94 77 0073684 naveen@firstcapital.lk Mr. Naveen Samarasekera counts more than 12 years of experience in various business areas both overseas and in Sri Lanka. Prior to joining First Capital he was working as a Business Development Consultant engaging in Financial Planning and Advisory Services for Corporates and High Net-worth Individuals. In the last 12 years, he has worked with many Financial Institutions, Regulatory bodies and Support Services such as IT & Legal for different projects. Mr. Samarasekera holds a New Zealand Diploma in Business from the Auckland University of Technology, New Zealand Diploma in Management from NZIM, a Bachelor of Commerce Degree from the University of Auckland, New Zealand and is a passed finalist of the Chartered Institute of Management Accountants UK. Mr. Dilhan Gunatunga Manager New Business Introductions Contact : +94 77 7377709 dilhan@firstcapital.lk Mr. Dilhan Gunatunga counts more than 20 years of experience in the Financial Services industry, spanning across Leasing, Insurance and Investment Banking. Prior to joining First Capital Group, Mr. Gunatunga worked at Union Assurance PLC where he was responsible for the development and the growth of the broking business over a 10 year period. He also worked at Asian Alliance Insurance PLC at the inception of the Company and was a Credit Officer at Commercial Leasing Company Limited. Mr. Gunatunga holds a Commercial Pilots License from the Federal Aviation Administration, USA and the Civil Aviation Authority of Sri Lanka. Mr. Rohana Jayakody Manager Matara Branch Contact : +94 77 7572279 rohana@firstcapital.lk Mr. Rohana Jayakody possesses a B.Com (Special) Degree from the University of Sri Jayewardenepura and Diploma in Certificate of Investment Advisory from the Security Exchange Commission of Sri Lanka and has more than 16 years of experience in government securities and corporate debt securities. He commenced his career at the EPF Department of the Central Bank of Sri Lanka in 1998 as a Project Officer and joined First Capital in 1999 as an Executive. He was later promoted to the post of Manager in 2008. Mr. Jayakody is currently heading the Matara Branch where he promotes investments in government and corporate debt securities across the Southern Province. Mr. Salinda Samarakoon Manager Kandy Branch Contact : +94 77 7590521 salinda@firstcapital.lk Mr. Salinda Samarakoon has over 12 years of experience in dealing with fixed income securities of which 10 years have been with First Capital. In managing his diverse customer base, he covers the Central, Uva and Sabaragamuwa provinces. Mr. Menaka Wavegedara Manager Kurunegala Branch Contact : +94 77 3596443 menaka@firstcapital.lk Mr. Menaka Wavegedara counts over 13 years of experience in managing a significant portfolio of fixed income securities clients in the North Western and North Central Provinces. His career in this field commenced at Entrust Securities PLC. Mr. Wavegedara holds the Investment Advisor license issued by the Securities and Exchange Commission of Sri Lanka. 8 I First Capital Holdings PLC
SERVICES We offer comprehensive investment banking services ranging from capital-raising to M&A. Our investment and trading solutions in multiple asset classes are well received by the discerning investor. We are committed to delivering objective advice and efficient transaction execution to enable our clients realize their strategic interests. Capital Markets and Advisory Capital market strategies and objective advice for corporate transformation. Our Capital Markets Advisory provides transformational equity and debt financing solutions in multiple roles of financial advisor, manager and placement agent during the transaction. Our capabilities include due diligence, pre-offer preparation, offer management, distribution strategy, structuring and after-market advisory services. We offer expert advice on treasury management to assist companies establish liquidity and manage financial risk. Our advisory capabilities extend to both cash management and investment. Our team can assist both private and listed companies to overcome a variety of treasury challenges. Capital Markets Mergers and Acquisitions Valuations Restructuring New Project Development Treasury Advisory Fixed Income Seamless trading solutions in Government Securities and Corporate Debt. As the market leader amongst non-bank affiliated primary dealers, we have a strong presence in the local Government Securities arena. We participate in Government debt auctions and make markets in Treasury Bills and Bonds. Our product offering includes distribution of and leveraging in Government Securities, in addition to tailored solutions such as allowable derivatives. We ensure our clients receive timely and accurate electronic trade execution on the primary and secondary market. Investment decision making is fortified by economic and market insight provided by First Capital Research. Our dealing desk can provide information on quotations, prices, credit ratings, and other data for a wide inventory of investment products. Trading secondary debt is fortified by sophisticated trading facilities and a team of seasoned investment advisors offering personalized services. Government Securities Fixed Income Investment Products Secondary Market Trading of Corporate and Government Debt Equities Efficient secondary market trading and margin facilitation. First Capital offers equity stockbrokering services, acting as a conduit between retail and institutional clients and the secondary market of the Colombo Stock Exchange. Our investment advisors strive to facilitate timely and efficient execution, backed by sophisticated trading tools. We rely on our research team s invaluable input and our transactional expertise to offer advice on trading strategies. We advise and execute strategic trading for high-net-worth and institutional investors providing single, block and negotiated trades. We offer margin trading facilities to eligible clientsz to purchase additional shares and access a convenient line of credit. Stockbrokering Margin Trading Asset Management Differentiated unit trusts and objective wealth management solutions. The featured First Capital Funds are Unit Trusts (also called Mutual Funds), which provide a cost-efficient and practical way to start investing in several types of assets under professional guidance. Recognized for superior risk-adjusted performance and emphasis on portfolio manager s skills, compliance, accountability and risk management. We focus on specific asset classes in which we have deep insight to deliver real value for our clients. We also offer select investment services and opportunities to individual clients. With our expertise in a comprehensive range of financial services, market access and insights on investment trends, we provide you with clear guidance to achieve your goals. Our wealth management advisors can help individual investors identify issues and explore opportunities bringing clarity to complexities and assist you in planning your financial aspirations. Unit Trusts First Capital Wealth Fund First Capital Gilt Edged Fund First Capital Money Market Fund First Capital Equity Fund Private Wealth Management First Capital Holdings PLC I 9
FIRST CAPITAL HOLDINGS PLC - PROVISIONAL FINANCIAL STATEMENTS Statement of Comprehensive Income For the year ended 31 March Group April ~ June Annual 2015 2014 2015 2014 Unaudited Unaudited Audited Audited LKR '000 LKR 000 LKR 000 LKR 000 Income 440,931 577,210 2,817,633 1,829,852 Direct income 422,175 577,197 2,572,949 1,824,758 Direct expenses (245,441) (322,475) (1,042,824) (1,206,001) Net trading income/ (expense) 176,734 254,722 1,530,125 618,757 Other income 18,756 13 244,684 5,094 Gain on fair valuation of financial investments - held for trading 81,658 26,742 (294,098) 86,795 Gain/ (loss) on fair valuation of derivative financial instruments (7,937) 23,631 (10,595) 10,303 269,211 305,108 1,470,116 720,949 Operating expenses Personnel expenses (57,498) (42,106) (245,894) (176,264) Premises, equipment and establishment expenses (30,363) (30,730) (53,261) (48,869) Specific allowance for impairment of trade and other receivables 195 - (3,121) (32,766) Other operating expenses (10,450) (4,666) (102,642) (64,265) (98,116) (77,502) (404,918) (322,164) Operating profit 171,095 227,606 1,065,198 398,785 Share of profit from equity accounted investee (net of tax) 9,606-5,925 - Profit before taxation 180,701 227,606 1,071,123 398,785 Income tax expenses (4,617) (9,966) (86,224) (68,689) Profit for the period 176,084 217,640 984,899 330,096 Other comprehensive income/ (expense) Items that will never be reclassified to profit or loss Actuarial gain/ (loss) on defined benefit plans - - 4,107 (2,813) Actuarial loss on defined benefit plans (Equity accounted investee) - - (391) - Items that are or may be reclassified to profit or loss Gain/(loss) on fair valuation of financial investments - available for sale - 34,688 20,812 (41,625) Reclassification of fair valuation reserve of financial investments- - (233,285) - available for sale to profit or loss Reclassification of fair valuation reserve of financial investments- 1,572 - - - available for sale to profit or loss (Equity accounted investee) Loss on fair valuation of financial investments- available for sale (8) - (295) - (Equity accounted investee) Available for sale financial assets reclassified to profit or loss - - (1,564) - (Equity accounted investee) Other comprehensive income / (expense) 1,564 34,688 (210,616) (44,438) Total comprehensive income for the period 177,648 252,328 774,283 285,658 Profit Attributable to: Equity holders of the parent 169,950 209,419 944,704 317,030 Non - controlling interest 6,134 8,221 40,195 13,066 176,084 217,640 984,899 330,096 Total comprehensive income Attributable to: Equity holders of the parent 171,514 244,107 734,223 272,475 Non - controlling interest 6,134 8,221 40,060 13,183 177,648 252,328 774,283 285,658 Basic Earnings per share (LKR) 1.68 2.07 9.33 3.13 Dividend per share (LKR) - - 4.00 4.00 10 I First Capital Holdings PLC
FIRST CAPITAL HOLDINGS PLC - PROVISIONAL FINANCIAL STATEMENTS Statement Of Financial Position As at 30 June 2015 Unaudited Group 30 June 2014 Unaudited 31 March 2015 Audited Assets Cash at banks and in hand 42,298 32,419 33,193 Derivative financial instruments 1,602 43,476 40,609 Financial investments - Held for trading 9,887,289 16,396,986 10,236,450 Financial investments - Available for sale 2,000 339,625 2,000 Financial investments - Loans and receivables 4,188,417 2,735,720 8,920,212 Trade and other receivables 946,698 432,147 524,524 Group balances receivable - - - Non - current assets held for sale 44,416 45,416 44,416 Taxes receivable 63,172 61,002 65,972 Investment in venture capital 6,000 6,000 6,000 Investment in equity accounted investee - - 408,876 Investment in subsidiary - - - Deferred tax asset 38,867 44,821 40,259 Property, plant and equipment 24,049 46,008 26,357 Intangible assets 115,435 116,010 115,733 TOTAL ASSETS 15,360,243 20,299,630 20,464,601 Liabilities Bank overdrafts 3,703 15,464 866 Derivative financial instruments 290-31,359 Securities sold under re-purchase agreements 9,240,497 15,840,710 14,837,179 Short term borrowings 2,595,550 1,377,604 2,224,579 Group balances payable - - - Trade and other payables 236,904 241,585 286,276 Taxes payable - - 1,719 Retirement benefit obligations 20,372 23,815 19,036 Borrowings on debentures 747,468 519,121 725,776 Total Liabilities 12,844,784 18,018,299 18,126,790 Equity Stated capital 227,500 227,500 227,500 Risk reserve 836,523 685,815 820,964 Retained earnings 1,363,569 1,031,416 1,209,178 Fair valuation reserve - 247,161 (1,564) Equity attributable to the equity holders of the parent 2,427,592 2,191,892 2,256,078 Non- controlling interest 87,867 89,439 81,733 Total Equity 2,515,459 2,281,331 2,337,811 TOTAL EQUITY AND LIABILITIES 15,360,243 20,299,630 20,464,601 Note: All values are in LKR 000 unless otherwise stated. These financial statements are in compliance with the requirements of the Companies Act No. 07 of 2007. First Capital Holdings PLC I 11
Contact Us If you would like to contact us to discuss your financial requirements, we can be reached at First Capital Holdings PLC No. 2, Deal Place, Colombo 03, Sri Lanka. Tel No: +94 11 2 639 898, +94 11 2 576 878 Fax No: +94 11 2 639 899, +94 11 2 576 866 Email: info@firstcapital.lk Our opening hours are Monday Friday 08.00am 05.00pm Branches Details Matara No. 24, Mezzanine Floor, E. H. Cooray Building, Anagarika Dharmapala Mawatha, Matara. Tel : +94 41 2 222 988 / +94 777 572 279 Fax: +94 41 2 229 778 Email : matara@firstcapital.lk Kandy No. 213-215, Peradeniya Road, Kandy. Tel : +94 81 2 236 010 / +94 777 590 521 Fax: +94 81 2 236 011 Email : kandy@firstcapital.lk Kurunegala No. 6,1st Floor, Union Assurance Building, Rajapihilla Mawatha, Kurunegala. Tel : +94 37 2 222 930 / +94 773 596 443 Fax: +94 37 2 222 945 Email : kurunegala@firstcapital.lk Web : www.firstcapital.lk 12 I First Capital Holdings PLC