Statement of Directors’ Responsibility

Statement of Directors’ Responsibility This Statement of Directors' Responsibility should be read in conjunction with the Report of the Auditors. It aims to clarify the distinct roles and duties of the Directors and the Auditors regarding the Financial Statements included in this Annual Report.

Responsibilities of the Directors

Under the Companies Act No. 07 of 2007, the Directors are obligated to prepare financial statements for each financial year that provide a true and fair view of the Company's and the Group's financial position at the end of the year, as well as their income and expenditure for the year. The Directors confirm that the Financial Statements for the year ended 31 March 2024 have been prepared in accordance with the Sri Lanka Financial Reporting Standards (SLFRS) and the Companies Act No. 07 of 2007.

In preparing these Financial Statements, the Directors have:

• Selected and consistently applied appropriate accounting policies.
• Made reasonable and prudent judgments and estimates.
• Followed applicable accounting standards.
• Prepared the Financial Statements on a going concern basis.

The Directors believe that sufficient resources are available for the Company to continue operations in the foreseeable future. They have taken all reasonable measures to safeguard the Company's and the Group's assets, established robust internal controls, and ensured the security of information systems to prevent, deter, and detect fraud, misappropriation, or other irregularities. Additionally, the Directors have ensured that accurate accounting records are maintained, capturing all transactions and providing an accurate disclosure of the Company’s financial position.

Responsibilities to the Auditors

The Directors are committed to providing the Auditors with all necessary information and explanations and ensuring they have the opportunity to perform their audit procedures. The Directors believe they have fulfilled their responsibilities in this regard.

Compliance Report

To the best of their knowledge, the Directors confirm that all taxes, levies, and other statutory obligations payable by the Company as of the reporting date have been paid or appropriately provided for in the Financial Statements. The Directors have also obtained compliance reports from senior management on a quarterly basis covering areas such as Finance, Regulatory Requirements, Human Resources, Insurance, Company Secretarial, and Information Security Controls.

As required by section 56(2) of the Companies Act No. 07 of 2007, the Board of Directors confirms that the Company satisfies the Solvency Test immediately after proposed distributions, and under any other circumstances as mandated by the Companies Act No. 07 of 2007.

By Order of the Board

S Sathasivam
Executive Director/Group Chief Executive Officer

A D B Talwatte
Non-Executive Independent Director

30 May 2024