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Sri Lanka Equity Forum » Stock Market Talk » AINV.N Chairman's Report

AINV.N Chairman's Report

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1 AINV.N Chairman's Report on Fri Apr 27, 2018 9:47 am

Neluka Karannagoda


Manager - Equity Analytics
Manager - Equity Analytics
Is this statement will help to increase the share prices of Adams group ?

On behalf of the Board of Directors I am pleased to present the Annual Report and Audited Financial Statements for Adam Investments PLC for the Financial Year ended 31st March 2017. The integrated nature of the Report represents the Group’s recognition of, and continued objective towards, the social, economic and financial responsibilities which are vital to a feasible and well governed entity. The Group has identified that further growth and profitability could be successfully achieved through International Affiliations and Joint Ventures. Such ventures with International Companies / Organizations would bring in advanced technical expertise, management practices and capital for the development and marketing of the products and services being offered by the Group. Adam Capital PLC together with its subsidiaries Adam Carbons Limited and Adam Capital Micro Credit (Pvt) Ltd took a significant step in this direction with the Collaboration Agreement signed with an organization in Thailand, one of Thailand’s well-established conglomerates with key businesses in manufacturing and distribution. We expect substantial benefits from this connection within the South East Asian and African Region in the future years. It is fulfilling to witness the restructuring process and to see the transformation of a company which was once struggling. Other group companies namely Network Communications (Pvt) Ltd, Adam Metals (Pvt) Ltd, Adam Air conditions (Pvt) Ltd and Adam Automobiles (Pvt) Ltd have performed satisfactorily during the period under review. The management is working on continuous growth of these companies where any growth opportunity would be carefully analyzed with their wisdom in business management and any viable opportunity would be practiced with strategic implementation. We believe Wellwin (Pvt) Ltd would need extra time to stabilize its operations and streamline the business to improve revenue and profits. The company is moving towards the right direction with the tremendous effort of the management and resolute guidance by the board of directors. Extensive efforts were made in improving internal efficiencies and these efforts covered every operational sector of the Group. Strong focus was also directed at the Activated Carbon Manufacturing Plant. The efforts at improving efficiencies have shown considerable progress and improved results, which are reflected in the financial results for the year. Despite the progress made, improving of efficiencies is a continuous process and further opportunities exist. With the current performance level of the company we are confident that we are in the right direction of creating value for the shareholders. We all look back with satisfaction on the performance of the Group during the year. We are confident that the level of financial performance could be sustained and enhanced in the coming years. The improving economic picture also gives us confidence for the future although possible external shocks continue to be a concern. The results of our continuous focus on improvements in internal efficiencies is a key strength which would off-set any possible adversities in the future. I wish to place on record my sincere thanks to all my fellow Directors and staff for the assistance and cooperation rendered to me during the year. I also wish to recognize and appreciate the strong bonds and relationships built with our Customers, Bankers, Suppliers and Principals over several years. In conclusion, I wish to thank the shareholders for their valuable support and confidence in us.

2 Re: AINV.N Chairman's Report on Fri Apr 27, 2018 4:47 pm

DS Wijesinghe


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Adam Investments PLC - Non Compliance of Corporate Governance Requirements Set Out in Rule 7.10 of the CSE Listing Rules 


Below is the web link of the announcement


https://cdn.cse.lk/cmt/upload_cse_announcements/2341524806363_.pdf

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