SUNSHINE HOLDINGS PLC

Annual Report 2018/19

OUR VISION

To be the most admired conglomerate in Sri Lanka

OUR MISSION

Growing our enterprises to be industry leaders

OUR VALUES

INNOVATION

Continuous improvement through change

PERSEVERANCE

Never give up

TRUST

The foundation upon which we grow

RESPONSIBILITY

Accountable to all stakeholders

INTEGRITY

Honest, open and transparent

That we are a going concern goes without saying – a business that has the ability to continue in business for the foreseeable future.

But the current era demands more from businesses. For instance, sudden disruptions are the new norm, be they economic, political, business, or climate-related. This means that the old parameters for gauging long-term success are no longer enough.

By calling this publication a growing concern we highlight, not just our rich half century of progress from humble beginnings, but also, our potential for sustainable, unfettered growth over the next 50 years and beyond.


Family is where trust is founded. For Sunshine Holdings, trust is the foundation upon which we grow into industry leaders.

OUR VISION

To be the most admired conglomerate in Sri Lanka

OUR MISSION

Growing our enterprises to be industry leaders

OUR VALUES

INNOVATION

Continuous improvement through change

PERSEVERANCE

Never give up

TRUST

The foundation upon which we grow

RESPONSIBILITY

Accountable to all stakeholders

INTEGRITY

Honest, open and transparent

That we are a growing concern goes without saying – a business that has the ability to continue in business for the foreseeable future.

But the current era demands more from businesses. For instance, sudden disruptions are the new norm, be they economic, political, business, or climate-related. This means that the old parameters for gauging long-term success are no longer enough.

By calling this publication a growing concern we highlight, not just our rich half century of progress from humble beginnings, but also, our potential for sustainable, unfettered growth over the next 50 years and beyond.

Family is where trust is founded. For Sunshine Holdings, trust is the foundation upon which we grow into industry leaders.

Preamble

Responsibility for
the Report

Read Online

Download PDF

Company
Profile

Read Online

Download PDF

Highlights
of the Year

Read Online

Download PDF

We are a growing concern - with big plans to keep growing.

Our story, as told in this Annual Report, reflects the personality of our brand. It is narrated in relation to our Mission to grow our enterprises to be industry leaders. As we illustrate how we create value and blaze a trail, we also tell our story in relation to our values: trust, integrity, responsibility, perseverance and innovation.

With half a century under our belt, we are a conglomerate that consists of diverse subsidiaries spanning four vital sectors of our country’s economy: healthcare, agribusiness, consumer goods, and more recently, renewable energy.

From our modest genesis in 1967, we have held true to the family values that have brought us this far. An entrepreneurial spirit, solid partnerships, strategic alliances with leading global companies, strong values, and a Strategy and Mission that’s fit for the future – these are the elements that will drive us on from strength to strength.

Leadership

Chairman’s
Message

Read Online

Download PDF

Group Managing
Director’s Review

Read Online

Download PDF

Implementing
Strategy

Read Online

Download PDF

Board of
Directors

Read Online

Download PDF

At Sunshine Holdings, our brand of leadership is defined by our history as much as by what we envision for the future.

In fact, it was the dream of seeing our small family business grow to its full potential, and more, that led us to expand from humble beginnings to the listed conglomerate we are today; one that continues to be steeped in family values and with responsibilities to all stakeholder groups.

Our leadership is built on trust, as we continue to hold true to our conscience and keep to our word. The spirit of responsible entrepreneurship, that was our spark of life, now fuels the fire that powers Sunshine Holdings. Growing our enterprise further, we will continue to reimagine market leadership and aspire to be a beacon to all in today’s unpredictable and fast-evolving business landscape.

Creating value

Integrity
and Family

Read Online

Download PDF

Responsibility
and Governance

Read Online

Download PDF

Our stakeholders are like the members of our family – whether they are investors, business partners, employees, or customers.

As a family we live by integrity. That is a fundamental part of our ethos. We serve everyone who comes into our fold with the same integrity that we would extend to a family member. Without them we could not create value. The communities within which we operate and the environment within which we all live and thrive are vital components of our stakeholder group.

We take responsibility for our actions, seeking out ever more sustainable ways of governing and operating our businesses, while conserving the natural environment for future generations.

Just as we deliver value to our stakeholders, we too derive value from them. As a family, we take care of each other. We always have and we always will. It’s that simple.

Blazing a trail

Perseverance
and Quality

Read Online

Download PDF

Innovation
and Disruption

Read Online

Download PDF

Perseverance has brought us this far on our journey, and it is what fuels our forward momentum as we blaze new trails. Every member of Sunshine Holdings perseveres to raise the bar on quality, every single time. Understanding our stakeholders’ needs and being agile enough to meet or exceed needs in a timely and relevant manner is often what it takes to exceed expectations – the best measure of quality.

At the same time, we live in a fast-evolving world. Changes in the business, political, social, environmental, and regulatory arenas are rapid and often unexpected. In this backdrop of continuous disruption, we focus on challenging the status quo – even if it means questioning the way we have always done things before.

Innovation is the most utilitarian item in our toolbox, but we back that up with good governance, and with people, systems and processes that are geared for the future – even one that is not always predictable.

Risk Management

Risk Management

Read Online

Download PDF

At Sunshine Holdings, we manage our affairs and resources with the utmost intellectual honesty and diligence, giving due care to corporate ethics and social responsibility. This has always been our way.

As a listed, diversified entity, we are keenly aware of the need to successfully manage risk. Failure to do so can affect our operations, our stakeholders, and the society and environment within which we operate. Such risks can negatively impact our financial performance or attract the ire of regulators, seriously affecting our ability to create value. They have the potential to damage a hard-won reputation that was half a century in the making.

Each of our subsidiaries maintains separate risk management functions while, at Sunshine Holdings, we manage these risks through an effective governance framework that ensures regulatory compliance, transparency, and accountability, avoiding conflict of interest and safeguarding the integrity of our financial reporting and disclosures.

Our diversification into the various sectors, industries, and markets is a strategy that supports risk management from the Company’s perspective as well as that of its shareholders.

Financial Reports

Report of the Nomination and Remuneration Committee

Read Online

Download PDF

Report of the Audit Committee

Read Online

Download PDF

Report of the Related Party Transactions Review Committee

Read Online

Download PDF

Statement of Directors’ Responsibility

Read Online

Download PDF

Group Managing Director’s and Group Chief Financial Officer’s Responsibility Statement

Read Online

Download PDF

Financial Review

Read Online

Download PDF

Independent Auditors’ Report

Read Online

Download PDF

Statement of Profit or Loss and Other Comprehensive Income

Read Online

Download PDF

Statement of Financial Position

Read Online

Download PDF

Statement of Changes in Equity

Read Online

Download PDF

Statement of Cash Flow

Read Online

Download PDF

Group Structure

Read Online

Download PDF

Notes to the Financial Statements

Read Online

Download PDF

The Financial Reports and accompanying notes provide a true and fair view of the results of our operations, financial position, and cash flows as stated in the relevant reports and statements in this section.

Our Financial Statements comply with all applicable accounting standards and are free from material misstatement.

TOP
Close