CAPITAL ALLIANCE PLC Resilience
in
adversity
Annual Report 2021 / 2022 | Capital Alliance PLC |
Contents
OVERVIEW
Introduction to the Report | 2 |
About Us | 3 |
Our Journey | 4 |
Financial Highlights | 5 |
STEWARDSHIP
Chairman's Message | 8 |
Chief Executive Officer's Review | 10 |
Board of Directors | 13 |
Heads of Departments | 17 |
Management Discussion and Analysis | 21 |
Risk Management | 24 |
Key Financial Performance Review | 29 |
Annual Report of the Board of Directors | 31 |
COMPLIANCE REPORTS
Corporate Governance | 36 |
Listing Rules Compliance | 58 |
Companies Act Checklist | 62 |
Audit Committee Report | 63 |
Related Party Transactions Review Committee Report | 65 |
Remuneration Committee Report | 66 |
Statements of Directors' Responsibility | 67 |
FINANCIAL REPORTS
Financial Calendar | 69 |
Independent Auditor's Report | 70 |
Statement of Profit or Loss and Other Comprehensive Income | 74 |
Statement of Financial Position | 75 |
Statement of Changes in Equity | 76 |
Statement of Cash Flows | 77 |
Notes to the Financial Statements | 78 |
OTHER REPORTS
Investor Information | 129 |
Five Year Summary | 131 |
SUPPLEMENTARY INFORMATION
Glossary of Financial Terminology | 133 |
Notice of Meetings | 136 |
Form of Proxy | 139 |
Corporate Information | Inner Back Cover |
Resilience
in
adversity
We chose resilience as our focus point this year, as we followed through on our revitalised brand through a challenge-filled year. And as we present our account of the year under review, we are satisfied with the progress we have made, despite the headwinds we faced. We have strengthened our core and made our processes and procedures more efficient. We have emphasised even more, our focus on risk management and compliance and in a year of trials we emerged relatively unscathed by remaining true to our strong fundamentals, and continuing our momentum in demonstrating our resilience in adversity
1
Introduction to the Report
This is the first Annual Report published by Capital Alliance PLC (CALT) since the listing of the Company on the Colombo Stock Exchange (CSE) on 15th December 2021. The Company name was changed from "Capital Alliance Limited" to "Capital Alliance PLC", with effect from 26th January 2022.
Capital Alliance PLC (CALT) is proud to present the Annual Report which provides comprehensive and concise information on the performance of the company for the year ended 31st March 2022 and the Independent Auditors' Report on the Financial Statements conforming to all applicable statutory requirements.
The Financial Statements of the Company were duly certified by the Financial Controller and were approved for the submission to the Board of Directors by the Board Audit Committee. The financial statements were approved by the Board of Directors on 24th June 2022.
Reporting period and boundary
The Report covers the operations of Capital Alliance PLC (CALT) identified as the "Company". The Report covers the 12 months period from 1st April 2021 to 31st March 2022, which is consistent with our usual annual reporting cycle. There are no significant changes from previous reporting periods in the scope and boundaries. Comparative financial information, if reclassified or restated, has been disclosed and explained in the relevant sections.
The Company does not have any other subsidiaries, associates, joint ventures, overseas operations, or other businesses. The Company's shareholding structure, and operations are disclosed on Pages 129,130 and 3 respectively.
The key financial and non-financial aspects are discussed in the context of the Company unless stated otherwise.
Reporting Frameworks
Financial reporting
- The Sri Lanka Financial Reporting Standards (SLFRS) and Sri Lanka Accounting Standards (LKAS) issued by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka)
Corporate governance reporting
- Laws and Regulations of the Companies Act No. 7 of 2007
- Listing Rules of the Colombo Stock Exchange
- Code of Best Practices on Corporate Governance issued by CA Sri Lanka
Compliance
Both financial and non-financial information contained in this report complies with applicable rules and guidelines stipulated by the Central Bank of Sri Lanka, the Companies Act No. 07 of 2007, Listing Rules of the Colombo Stock Exchange, The Inland Revenue Act, and all the Directions issued by The Inland Revenue Department and CA Sri Lanka .
Independent Assurance
The Company has engaged Messrs. KPMG to obtain an independent assurance in respect of their audit opinion on the financials given on pages 70 to 73 of this Annual Report.
Feedback and Further Information and Suggestions
The Company welcomes your comments, suggestions, and inquiries on this Report.
Contact Us
Mr. Yasantha Kumara
Financial Controller
Capital Alliance PLC
Level 5, 'Millennium House, 46/58,
Nawam Mawatha, Colombo 02,
Sri Lanka.
Tel | : (94) | 11 2317777 Ext: 7320 |
Fax | : (94) | 11 2317788 |
Email : yasanthak@cal.lk
2 | Capital Alliance PLC | Annual Report 2021 - 2022 |
About Us
Capital Alliance PLC (CALT) (Previously-Capital Alliance Limited) was established in 2000 as a debt dealer and subsequently appointed as an authorised primary dealer by the Central Bank of Sri Lanka in 2003.
With over two decades of experience, the Capital Alliance Holdings Group (CAL Group) has graduated to become a leading Investment Banking group in Sri Lanka. Capital Alliance PLC is a subsidiary of the Capital Alliance Holdings Limited.
Capital Alliance PLC forms the Government securities trading function of the Group and, as per the Central Bank of Sri Lanka, is one of the five (05) non-Bank Primary Dealers in the country. Capital Alliance PLC's (CALT) main business is trading in government securities. CALT's business is regulated by the Central Bank of Sri Lanka and its activities are limited to those specified under Schedule III of the Registered Stock and Securities (Primary Dealers) Regulations No. 01 of 2009 as amended from time to time.
ICRA Lanka reaffirms the issuer rating of [SL]A-(Stable) for Capital Alliance PLC on 25th March 2022.
Capital Alliance Limited was listed on the Colombo Stock Exchange (CSE) on 15th December 2021.
The CAL Group's Vision and Mission statements are as follows:
Our Vision
- To be the leading capital markets solutions provider in frontier markets"
Our Mission
- To foster the development of capital markets as an efficient alternative to fulfill the banking needs of our customers"
Capital Alliance PLC | Annual Report 2021 - 2022 | 3 |
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Capital Alliance Ltd. published this content on 04 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 July 2022 10:42:04 UTC.
