People’s Leasing & Finance PLC

Annual Report 2018/19

සිංහල  |  தமிழ்

Our sixth Integrated Annual Report

Apt communications

Our reporting addresses the needs of our diverse stakeholders without creating clutter. This Report is structured in line with our business model and comprises a discussion on our strategy, performance, governance, and prospects, and how they help to create sustainable value.

A comprehensive report in online HTML format (for a universal audience).

Additional information that supplements the printed version is available in the online version of this Integrated Annual Report.

A two-part Integrated Annual Report in print, PDF and CD formats (compliance-related disclosure for a more select, specialist audience).

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Reporting period

This Annual Report covers material information relating to the Company’s performance for the financial year beginning 1 April 2018 to 31 March 2019. (Our most recent report is dated 31 March 2018).

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Report boundary

Largely covers business operations of People’s Leasing & Finance PLC (“Company” or “People’s Leasing”) in Sri Lanka unless otherwise stated. Financial reports cover People’s Leasing and its six subsidiaries (“Group”) and its interest in the associate.

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Restatements and changes

No restatements were done of information provided in previous reports and no significant changes from previous reporting periods were reported in the scope and aspect boundaries. However, presentation and classification of the financial statements of the previous year are amended where relevant for better presentation and to be comparable with the current year.

Strategic imperatives

Our five strategic imperatives help us capitalise on opportunities and mitigate risks that present themselves within the overarching trends that shape our operating environment:

  • Pursuing sustainable growth
  • Augmenting customer experience
  • Achieving execution excellence
  • Promoting efficient resource use
  • Embodying responsible stewardship

These strategic imperatives were developed in response to matters material to the Company. The Report focuses on material opportunities and risks that significantly impact our business and stakeholders as discussed on pages 64 to 65.

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In producing this Report we drew on concepts, principles, and guidance from –

  • The International Integrated Reporting Council (IIRC) Framework
  • The Global Reporting Initiative (GRI), GRI Standards: Comprehensive Option
  • The Institute of Chartered Accountants of Sri Lanka
  • Securities and Exchange Commission of Sri Lanka
  • The Central Bank of Sri Lanka
  • The Colombo Stock Exchange
  • The United Nations Sustainable Development Goals (SDGs)
  • The Smart Integrated Reporting MethodologyTM

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External assurance

The Financial Statements together with the related Notes are audited by Messrs Ernst & Young, Chartered Accountants, Sri Lanka and their assurance report is set out on pages 217 to 219. The external assurance obtained by them for sustainability reporting is given on page 387 of this report. Messrs Ernst & Young, Chartered Accountants also issued the External Assurance for the Company’s compliance with Corporate Governance Directions which has been submitted to the Central Bank of Sri Lanka. Directors’ statement on internal controls over financial reporting has been reviewed by the said Auditors, and their opinion on the same is given on page 214.

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Queries on the Report

Any questions and queries on this Integrated Annual Report 2018/19 and the information presented therein are to be directed to:

Chief Financial Officer
People’s Leasing & Finance PLC
1161, Maradana Road,
Colombo 08,
Sri Lanka.
Postal code: 00800
Phone: +94 11 263 1631

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