We have entered

entere a new phase of growth. We have made

our indelible mark in the evolving skyline of Colombo city
through our land
landmark commercial property, the World
Trade Centre and the u
urban lifestyle complex of Havelock
City. Now, we are exp
expanding our footprint
o of high rise,
high quality real estate
estat into new tterrain.
errain.
n We h
have
aave
ve ent
entered
a new trajectory of g
growth
gr w
wth aand expansion within proper
property
y
7;ˆ;Ѵorl;m|-m7|u-7bm]|_-|_-v;m_-m1;7orrou|†mbঞ;v
7;ˆ;Ѵorl;m|-m7|u
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7|u-7bm]|_-|_-v;m_-m1;7orrou|†mb
ou †m
mbঞ;v
v
and paved
p ved the
th way for future growth.
Our Vision
†ur-vvbombv|o0;|_;lov|v†11;vv=†Ѵ-m7bmmoˆ-ঞˆ;
u;-Ѵ;v|-|;voѴ†ঞomvruoˆb7;ubm|_;u;]bomĺ

Our Mission
$o0;-|u†Ѵ‹"ub-mh-mķv;Ѵ=Ŋ1om|-bm;7ķ7bˆ;uvbC;7ķ
u;-Ѵ;v|-|;voѴ†ঞomvruoˆb7;uķ7ubˆ;m0‹-_b]_Ѵ‹
loঞˆ-|;7ruo=;vvbom-Ѵ|;-l|o;Š1;;7|_;
;Šr;1|-ঞomvo=1†v|ol;uv-m7v_-u;_oѴ7;uvĺ
Our Values
Customer Oriented
Quality
Team Work
Honesty
omঞm†o†v;-umbm]
mmoˆ-ঞom
Accountability
Respect
";mv;o=&u];m1‹
4 INSPIRING
GENERATIONS

Financial
Highlights

2015 2014
For the year ended 31st December Rs. Mn !vĺm

INCOME STATEMENT
Revenue 3,141 6,198
uovvuoC| 1,940 2,408
Fair Value Gain (FVG) 1,175 1,016
uoC|;=ou;$-ŠŐ$ő 3,073 3,386
uoC|[;u$-ŠŐ$ő 3,031 3,336
$ŐŠ1Ѵ†7bm] (ő 1,856 2,320

STATEMENT OF FINANCIAL POSITION

Total Assets 32,274 30,276
$o|-Ѵb-0bѴbঞ;v 2,157 2,840
o-mv-m7ouuo‰bm]v 96 1,082

SHAREHOLDERS' EQUITY
Stated Capital 11,163 10,186
Reserves 17,442 15,742

FINANCIAL RATIOS
uovvuoC|-u]bm 62% 39%
$Őm1Ѵ†7bm] (ő-u]bm 96% 54%
$ŐŠ1Ѵ†7bm] (ő-u]bm 59% 37%
-umbm]v;u"_-u;Őm1Ѵ†7bm] (ő 3.44 ƒĺƓѶ
-umbm]v;u"_-u;ŐŠ1Ѵ†7bm] (ő 2.09 ƑĺƑƖ
Return on Equity 11% 13%
;0|t†b|‹!-ঞo 0.3% 4%
Net Assets Per Share 32.22 ƒƏĺƕƓ
 5
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

Group Revenue (Rs Mn) uo†

o†r
r u
uoC
oC| - (Rs Mn)
| [;u $-Š

7,000 3,500

6,000 3,000

5,000 2,500

4,000 2,000

Mn 3,000 1,500

Group Revenue 2,000 1,000

1,000 500

0 0
2011 2012 2013 2014 2015 2011 2012 2013 2014 2015

PAT (Excl FV) PAT (Incl FV)

Mn
Earning Per Share (Rs) NAVPS and Avg Share Price (Rs)
uo†ruoC|[;u$-Š
4.0 35

3.5
30

3.0

25
Rs 2.5

2.0 20
-umbm];u"_-u;
1.5
15

1.0

10
0.5 2011 2012 2013 2014 2015
2011 2012 2013 2014 2015
NAVPS Avg. Share Price
Mn Incl FV Excl FV

$o|-Ѵvv;|v ROE and ROA (%) Shareholders Equity and Total Assets
(Rs Mn)
15 35,000

30,000

12 25,000

20,000

9
15,000

10,000
6
5,000

0
3 2011 2012 2013 2014 2015
2
2011 2012 2013
2013 2014
4 2015
Shareholders Eq
quit
uity
y Total
Total Ass
ssets
etss
ROE ROA
OA
6 INSPIRING
GENERATIONS

“ Since the inception 20 Years ago the

World Trade Center has been the
“Best Business Address” in Colombo,
with unmatched built quality, facilities,
services and an unique location in the
Central Business District. ”

Chairman’s Review
|]bˆ;vl;]u;-|rѴ;-v†u;|oru;v;m||_bvmm†-Ѵ!;rou|
and Statement of Account for the Year Ended 31st
;1;l0;u ƑƏƐƔĺ m 0;_-Ѵ= o= |_; o-u7 o= bu;1|ouvķ 
-l rѴ;-v;7 |o ‰;Ѵ1ol; l‹ =;ѴѴo‰ "_-u;_oѴ7;uv |o |_;
ƒƓ|_mm†-Ѵ;m;u-Ѵ;;ঞm]o=ˆ;uv;-v!;-Ѵ|‹Ő;‹Ѵomő
ĺ
-l_-rr‹|ou;rou||_;mo|;‰ou|_‹u;v†Ѵ|v‹o†uolr-m‹
u;1ou7;7 =ou |_; ‹;-u †m7;u u;ˆb;‰ĺ $_; olr-m‹
bm7bˆb7†-ѴѴ‹u;1ou7;7b|v_b]_;v|$†umoˆ;u-m7_b]_;v|;|
uoC|-[;u$-Šĺ
Economic Background
$_; o†m|u‹Ľv uovv ol;vঞ1 uo7†1| Ő ő u;1ou7;7
- ]uo‰|_ o= ƔĺƔѷ bm ƑƏƐƔķ 1olr-u;7 |o ƕĺƓѷ bm ƑƏƐƓĺ
m|;u;v| u-|;v -m7 mY-ঞom u;l-bm;7 bm vbm]Ѵ; 7b]b|v
-Ѵ|_o†]_|_;"ub-mh-!†r;;7;ru;1b-|;70‹Ɩѷ-]-bmv|
|_;&" oѴѴ-uĺ$_;";uˆb1;";1|ou‰_b1_1om|ub0†|;v1Ѵov;
|o ѵƏѷ o= |_; |o|-Ѵ   _-v v_o‰m -m -ˆ;u-]; ]uo‰|_
o=ѵĺѶѷ0;|‰;;mƑƏƏƖŋƑƏƐƔĺ$_;r;u=oul-m1;o=|_;
olr-m‹ ‰b|_bm |_bv l-1uoŊ;1omolb1 ;mˆbuoml;m| bv
1oll;m7-0Ѵ;ĺ
Financial Performance
$_;olr-m‹!;ˆ;m†;o=!vƐĺƖmķ‰-vƐƐѷ_b]_;u|_-m
Ѵ-v|‹;-uķ‰b|__b]_;u!;m|-Ѵ!;ˆ;m†;=uol|_;)ouѴ7$u-7;
;m|;uĺomv;t†;m|Ѵ‹|_;olr-m‹u;1ou7;7b|v_b]_;v|
!;m|-Ѵ!;ˆ;m†;ĺo‰;ˆ;u|_;uo†r!;ˆ;m†;o=!vƒĺƐ
m‰-vƓƖѷѴo‰;u|_-mѴ-v|‹;-u7†;|oѴo‰;u!;ˆ;m†;
u;1o]mbŒ;7=uolr-u|l;m|"-Ѵ;vĺv-u;v†Ѵ|ķ|_;uo†r
uoC|-[;u$-Šo=!vƒm‰-vƖѷѴo‰;u|_-mѴ-v|‹;-uĺ
World Trade Center Colombo (WTC)
"bm1;|_;bm1;rঞomƑƏ+;-uv-]o|_;)ouѴ7$u-7;;m|;u
_-v 0;;m |_; ľ;v| †vbm;vv77u;vvĿ bm oѴol0oķ‰b|_
†ml-|1_;70†bѴ|t†-Ѵb|‹ķ=-1bѴbঞ;vķv;uˆb1;v-m7-m†mbt†;
Ѵo1-ঞombm|_;;m|u-Ѵ†vbm;vv bv|ub1|ĺ
 7
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

†bѴ7bm] l-bm|;m-m1; -m7 ;m;u]‹ l-m-];l;m| u;l-bmv

bˆb7;m7-‹o†|
ruboub|‹ -u;-v bm 1olbm] ‹;-uvĺ $_; olr-m‹ _-v |-h;m
l;-v†u;v |o †r]u-7; |_; v|-m70‹ ro‰;u 1-r-1b|‹ķ |o  Cuv| -m7 Cm-Ѵ 7bˆb7;m7 o= !v ƐĺƔƏ r;u v_-u; bv
=-1bѴb|-|; †mbm|;uu†r|;7 ro‰;u v†rrѴ‹ 7†ubm] l-bm ]ub7 u;1oll;m7;7 0‹ |_; o-u7 o= bu;1|ouv =ou |_; ‹;-u
ro‰;u=-bѴ†u;ĺ †u|_;u|_;olr-m‹bvbm|_;ruo1;vvo= ;m7;7ƒƐv| ;1;l0;uƑƏƐƔĺ
†r]u-7bm]|_;v‹v|;lvbm|_;0†bѴ7bm]-m7blrѴ;l;mঞm]-
lo7;umbŒ-ঞomruo]u-l‰b|_bm|_;m;Š||‰o‹;-uvĺ rru;1b-ঞom
‰o†Ѵ7Ѵbh;|orѴ-1;omu;1ou7l‹]u-ঞ|†7;|oo†uo-u7o=
-ˆ;Ѵo1hb|‹!;vb7;mঞ-Ѵ ;ˆ;Ѵorl;m| bu;1|ouv-m7lrѴo‹;;v‰_o‰ouh;7ঞu;Ѵ;vvѴ‹|o-1_b;ˆ;
-ˆ;Ѵo1h b|‹ bv -m bm|;]u-|;7 lbŠ;7 †v; u;-Ѵ ;v|-|; o†u|-u];|v7†ubm]|_;‹;-uƑƏƐƔĺ†u"_-u;_oѴ7;uv-u;o†u
7;ˆ;Ѵorl;m|ķ 1olrubvbm] !;vb7;mঞ-Ѵ -m7 oll;u1b-Ѵ v|u;m]|_-m7‰o†Ѵ7Ѵbh;|o|_-mho†uˆ-Ѵ†;7"_-u;_oѴ7;uv
1olrom;m|vĺ =ou|_;bu1omC7;m1;-m71omঞm†;7v†rrou|bm|_;v†11;vv
o=‹o†uolr-m‹ĺ
†ubm]|_;‹;-uƑƏƐƔķ|_;u;l-bmbm]u;ˆ;m†;u;1o]mbŒ;7
from the Sale of Apartments of Phase 2 amounted to Rs
ƖƕƓ mĺķ -uh;ঞm] o= _-v; ƒ ‰_b1_ ‰-v r†| om _oѴ7
7†ubm]ƑƏƐƔ‰-vu;ŊѴ-†m1_;7bm-u1_ƑƏƐѵĺ

m ou7;u |o ;Šr;7b|; |_; 1omv|u†1ঞom o= |_; u;l-bmbm] S.P. Tao
!;vb7;mঞ-Ѵ v|-];vķ _-v; ƒ -m7 _-v; Ɠ ‰o†Ѵ7 0; Chairman
7;ˆ;Ѵor;7 vbl†Ѵ|-m;o†vѴ‹ĺ _-v; ƒ 1omv|u†1ঞom bv
rѴ-mm;7|o1oll;m1;bm-‹ƑƏƐѵĺ 25th February 2016

oll;u1b-Ѵ ;ˆ;Ѵorl;m|
$_; oll;u1b-Ѵ ;ˆ;Ѵorl;m| bv 0;bm] u;7;vb]m;7
1olrubvbm] - "_orrbm] -ѴѴ -m7 om; L1;$o‰;u om -
Ѵ-m7;Š|;m|o=Ɣ-1u;vĺ$_;vbm]Ѵ;oL1;|o‰;u‰bѴѴ0;|_;
7olbm-m|=;-|†u;o=|_;v1_;l;-m7‰bѴѴruoˆb7;-m1omb1
Ѵ-m7l-uhbm|_;ˆb1bmb|‹ĺ$_bv‰o†Ѵ71-|;u|o|_;]uo‰bm]
7;l-m7=out†-Ѵb|‹oL1;vr-1;bmoѴol0oĺ

$_;"_orrbm]l-ѴѴ‰bѴѴ_-ˆ;-=†vbomo=u;|-bѴķ ş-m7
;m|;u|-bml;m| -m7 ‰bѴѴ 1-|;u |o |_; ;Šr;1|;7 ]uo‰|_ bm
oѴol0oĽv u;|-bѴ l-uh;| ‰b|_ ubvbm] 7bvrov-0Ѵ; bm1ol;v
-m7|o†ubv|;Šr;m7b|†u;ĺ

The Future
"ub-mh-bv;l;u]bm]-vom;o=|_;u;]bomĽvh;‹0†vbm;vv
7;vঞm-ঞomvķ ‰b|_ u;|-bѴķ |o†ubvlķ ruor;u|‹ -m7 v;uˆb1;
v;1|ouv;Šr;1|;7|o]uo‰oˆ;u|_;m;Š|=;‰‹;-uvĺ

+o†u olr-m‹ bv ‰;ѴѴ rѴ-1;7 |o 0; - 7bu;1| 0;m;C1b-u‹

o= |_; ;Šr;1|;7 roѴbঞ1-Ѵ v|-0bѴb|‹ķ ;1omolb1 ]uo‰|_ -m7
0†vbm;vv 1omC7;m1; bm |_; o†m|u‹ĺ )_bѴv| ‰; _-ˆ;
u;1ou7;7 v|;-7‹ ]uo‰|_ †r |o ƑƏƐƔķ |_; olr-m‹ ‰bѴѴ
;m7;-ˆou |o ;ŠrѴou; ruor;u|‹ u;Ѵ-|;7 orrou|†mbঞ;v |o
l-ŠblbŒ;v_-u;_oѴ7;uvˆ-Ѵ†;ĺ
8 INSPIRING
GENERATIONS
3URˉOHVRIDirectors
Mr. Shing Pee Tao
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bv ‰b7;Ѵ‹ u;]-u7;7 -v - ˆbvbom-u‹ ;m|u;ru;m;†u bm |_;
1ollo7bঞ;vķv_brrbm]-m7u;-Ѵ;v|-|;v;1|ouvĺuĺ"ĺ$-o
_-v 0;;m |_; momŊ;Š;1†ঞˆ; _-bul-m o= |_; olr-m‹
vbm1;|_;"_bm]‰-muo†rbmˆ;v|;7bm|_;olr-m‹bm
ƐƖƖƐĺ
uĺ"$-o1oll;m1;7_bv0†vbm;vv-vvo1b-ঞom‰b|_"ub
-mh-bmƐƖƔѶ7;-Ѵbm]bm1ollo7bঞ;v-m7v_brrbm]‰b|_
|_; ;‹Ѵom
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_; -vvbv|;7 "ub -mh- |o ;v|-0Ѵbv_ |_; ;‹Ѵom -ঞom-Ѵ
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|o |_; "_brrbm] ourou-ঞom‰_b1_‰-v u;m-l;7 ľ-mh-
!-mbĿĺ †uv†-m| |o |_-|ķ -v r-‹l;m|ķ _; u;1;bˆ;7 - ƑƏѷ
;t†b|‹v_-u;bmoѴol0o o1h‹-u7ĺ
m ƐƖƖƐķ uĺ $-oķ bm -vvbvঞm] |_; ;rr;Ѵ uo†r o=
"bm]-rou; |o m;]oঞ-|; -m7 -1t†bu; oѴol0o o1h‹-u7ķ
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-m7u;Ŋˆbvb|;7=ub;m7vo=vol;ƑƏ‹;-uvĺ
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oˆ;uml;m| -m7 om |_; u;1oll;m7-ঞom o= _bv oѴ7
=ub;m7ķ |_; |_;m _-bul-m o= -ঞom-Ѵ ;ˆ;Ѵorl;m|
-mhķ uĺ -h† -_-7;ˆ-ķ uĺ $-o -1t†bu;7 ˆ;uv;-v
Realty (Ceylon) PLC (ORC PLC), a listed Company on the
oѴol0o"|o1hŠ1_-m];ķo‰mbm]-m†m7;ˆ;Ѵor;7rѴo|
o=Ѵ-m7-|1_;Ѵom"t†-u;bm|_;oѴol0o
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;7;u-ঞomo="ub-mh-=uol
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Ѵ;-7bm]1omv|u†1ঞom1olr-m‹ķ$†um;u"|;bm;uo=&"ķ|o
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vr;-u_;-7bm] b|v ]uo‰|_ bm|o |_; Ѵ-u];v| Ѵbv|;7 ruor;u|‹
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$-h-u|--m7ķ7;ˆ;Ѵor;u-m7o‰m;uo=|_;)ouѴ7$u-7;
o-u7=uolƐƖѶƏ|oƑƏƏƔĺ
Mr. Hussein Zubire Cassim
rrobm|;7 |o |_; o-u7 -v - momŊ;Š;1†ঞˆ; bu;1|ou
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|_;rov|o=";1u;|-u‹|o|_;bmbv|;uo=$u-7;ķoll;u1;
ş$o†ubvl=uolƐƖƔƑ|oƐƖƔѵĺ;‰-v-rrobm|;7;m;u-Ѵ
-m-];uo=;‹Ѵom"_brrbm]bm;vbmƐƖƔѶ-m7_;Ѵ7|_bv
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momŊ;Š;1†ঞˆ;7bu;1|ou-|;vbm"bm]-rou;-m7"ub-mh-ĺ
uĺ-vvbl‰-v-Ѵvo-l;l0;uo=|_;-m;Ѵo=7ˆbvouv
o=|_;&mb|;7-ঞomv+o†|_
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-mh- Ŋ "bm]-rou; †vbm;vv o†m1bѴķ -m -LѴb-|; o= |_;

OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015
;‹Ѵom_-l0;uo=oll;u1;ĺ;_;Ѵ7|_bvrov|=ou|‰o
1omv;1†ঞˆ;‹;-uvĺ;‰-v-Ѵvo-l;l0;uo=|_;Š;1†ঞˆ;
ollb‚;;o=|_;;‹Ѵom_-l0;uo=oll;u1;ĺ
Mrs. Mildred Tao Ong (Dr.)
uvĺbѴ7u;7m]‰-v-rrobm|;7|o|_;o-u7-v-momŊ
;Š;1†ঞˆ; bu;1|oubmƐƖƖƐĺ"_;u;1;bˆ;7_;u"=uol
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|ofobm|_;"_bm]‰-muo†rbmƐƖƕƕ‰_;u;v_;_-v0;;m
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rouoѴbo ;m1olr-vvbm] |_; u;vb7;mঞ-Ѵķ 1oll;u1b-Ѵ -m7
u;|-bѴv;1|ouv|_uo†]_b|v1om|uoѴѴbm]bm|;u;v|bm"bm]-rou;
-m7 blb|;7 ՆmঞѴ ƐƖƖƏőķ $-h-u|- -m7 ՆmঞѴ ƑƏƏƔő
-m7 !ĺ  uvĺ m] r-uঞ1br-|;7 bm |_; 7ˆ-m1;7
-m-];l;m| uo]u-l bm -uˆ-u7 †vbm;vv "1_ooѴ bm
ƐƖѶƒĺ
uvĺm]1†uu;m|Ѵ‹oˆ;uv;;v|_;"_bm]‰-muo†rĽvu;-Ѵ
;v|-|;bmˆ;v|l;m|vbm"bm]-rou;-m7-0uo-7ĺ
Mr. Yap Boh Pin
uĺ+-ro_bm‰-v-rrobm|;7-v-momŊ;Š;1†ঞˆ; bu;1|ou
o=|_;olr-m‹omrubѴƐƖƖƐ-m7‰-v-l;l0;uo=|_;
Š;1†ঞˆ; ollb‚;; o= |_; o-u7 †mঞѴ ƐѶ|_ -m†-u‹
ƑƏƐƏĺ uĺ +-r v;uˆ;v -v - l;l0;u o= |_; olr-m‹Ľv
†7b|ollb‚;;=uoloˆ;l0;uƐƖƖѵĺ
uĺ +-r t†-ѴbC;7 -v - 1_-u|;u;7 -11o†m|-m| =uol |_;
mvঞ|†|;o=_-u|;u;711o†m|-m|vbmm]Ѵ-m7-m7)-Ѵ;v
bmƐƖѵѵĺ;bv-=;ѴѴo‰l;l0;uo=0o|_|_;mvঞ|†|;o=
_-u|;u;711o†m|-m|vo="bm]-rou;ķ-m7|_;mvঞ|†|;o=
_-u|;u;711o†m|-m|vbmm]Ѵ-m7-m7)-Ѵ;vĺ
9
; bv 1†uu;m|Ѵ‹ |_; -m-]bm] bu;1|ou o= ĺĺ+ĺ ubˆ-|;
blb|;7ķ-Culo=l-m-];l;m|1omv†Ѵ|-m|v‰_b1_ruoˆb7;v
Cm-m1b-ѴrѴ-mmbm]ķCm-m1b-Ѵ-11o†mঞm]ķu;ˆb;‰bm]bm|;um-Ѵ
1om|uoѴ v‹v|;lv -v‰;ѴѴ -v 1ourou-|; v;1u;|-ub-Ѵ v;uˆb1;v
bm"bm]-rou;ĺ
;|‰;;m †Ѵ‹ ƐƖƕƔ -m7 -m†-u‹ ƐƖƖƖķ uĺ +-r ‰-v -
v;mbou r-u|m;u -| +-r o_ bm ş oĺ ‰_b1_ ruoˆb7;7
-7ˆb1; om -†7bঞm]ķ |-Š-ঞomķ Ѵbt†b7-ঞom -m7 1ourou-|;
u;v|u†1|†ubm] l-‚;uvĺ ; bv -m bm7;r;m7;m| bu;1|ou o=
$;Ѵ;_ob1;m|;um-ঞom-Ѵblb|;7ķ-r†0Ѵb1Ѵbv|;71olr-m‹ķ
vb-o0bѴ;oѴ7bm]v|;|7-m7"$$oll†mb1-ঞomvŐ
;bfbm]őo|7Ő0o|_-u;rubˆ-|;v†0vb7b-ub;vo="bm]-rou;
$;1_moѴo]b;v $;Ѵ;l;7b- |; |7őķ ‰_b1_ bv r-u| o= |_;
"bm]-rou; $;1_moѴo]‹ uo†rĺ  ; bv -Ѵvo |_; _-bul-m
o=|_;†7b|ollb‚;;-m7l;l0;uo=|_;olbm-ঞm]
ollb‚;; =ou $;Ѵ;_ob1; m|;um-ঞom-Ѵ blb|;7ĺ  ; bv
also an independent Director of public listed company,
;u;mo boŊ_;l |7ķ v;uˆbm] -v _-bul-m o= b|v †7b|
ollb‚;;-m7l;l0;uo=b|volbm-ঞm]ollb‚;;ĺ
He has also held directorships in various public companies
0;|‰;;m ƐƖƕƔ -m7 ƑƏƏƏķ bm1Ѵ†7bm] "bm]-rou; -m7
blb|;7ķ ş mˆ;v|l;m|v blb|;7 -m7 -m -1bC1
olr-m‹ blb|;7 -m7 - l;l0;u o= |_;bu ;Š;1†ঞˆ;
1ollb‚;;v -m7ņou -†7b| 1ollb‚;;vķ -vvbvঞm] bm |_;
;ˆ-Ѵ†-ঞom -m7 u;1oll;m7-ঞom o= 1_-m];v |o |_;bu
v‹v|;lo=bm|;um-Ѵ1om|uoѴv-m71ourou-|;]oˆ;um-m1;ĺ
;‹om7|_;1ourou-|;v;1|ouķuĺ+-rbv-1ঞˆ;Ѵ‹bmˆoѴˆ;7
bm ˆ-ubo†v momŊruoC|ķ ;7†1-ঞom-Ѵ -m7 vo1b-Ѵ ‰;Ѵ=-u;
ou]-mbŒ-ঞomvĺ ; bv -m omou-u‹ o†m1bѴ ;l0;u o=
|_; "bm]-rou; ohhb;m†-‹ †-m -m7 - l;l0;u o= |_;
†7b|ollb‚;;o=|_;_bm;v; ;ˆ;Ѵorl;m|vvbv|-m1;
o†m1bѴĺ  ; bv -Ѵvo - bu;1|ou o=m]ѴoŊ_bm;v; "1_ooѴ
Őm|;um-ঞom-Ѵő-m71_-bul-mo=b|vCm-m1;"†0ollb‚;;ĺ
10 INSPIRING
GENERATIONS

3URˉOHVRIDirectors

Mrs. Rohini Lettitia Nanayakkara ; v;uˆ;7 -| ou0;v ş )-Ѵh;u blb|;7 =ou lov| o= _bv
‰ouhbm] Ѵb=;ķ 1†Ѵlbm-ঞm] bm 0;bm] -rrobm|;7 -v |_;
uvĺ !o_bmb -m-‹-hh-u- ‰-v -rrobm|;7 |o |_; o-u7 _-bul-mo=|_;1olr-m‹ķ-rovbঞom_;_;Ѵ7=ouv;ˆ;u-Ѵ
of Directors of the Company as an independent non- ‹;-uvĺ †ubm] _bv r;ubo7 o= v;uˆb1; -| ou0;v ş )-Ѵh;uķ
;Š;1†ঞˆ; bu;1|ou bm ƑƏƏƔĺ "_; _oѴ7v - v;1om7 Ѵ-vv _; ‰-v -rrobm|;7 |o |_; o-u7v o= v;ˆ;u-Ѵ r†0Ѵb1 -m7
 omo†uv ;]u;; =uol |_; &mbˆ;uvb|‹ o= ;u-7;mb‹-ķ rubˆ-|; 1olr-mb;vĺ ; -Ѵvo v;uˆ;7 -v |_; _-bul-m o=
"ub -mh-ĺ "_; -Ѵvo _oѴ7v - brѴol- bm u;m1_ =uol |_; |_; oѴol0o "|o1h Š1_-m];ķ _-bul-m o= |_; bm-m1;
_-l0;uo=oll;u1;ķu†vv;Ѵvĺ"_;bv- ;ѴѴo‰o=|_; Commission and Chairman of the Ceylon Chamber of
mvঞ|†|; o= -m-];l;m| ş |_; mvঞ|†|; o= -mh;uvķ "ub oll;u1;ĺ&romu;ঞubm]=uol|_;rubˆ-|;v;1|ouķ_;‰-v
-mh-ĺ"_;_-v-Ѵvo0;;m|_;u;vb7;m|o=|_;"ub-mh- -rrobm|;7-v"ub-mh-Ľvb]_ollbvvbom;u|o"bm]-rou;ĺ
-mhv vvo1b-ঞom -m7 |_; vvo1b-ঞom o= uo=;vvbom-Ѵ &rom1olrѴ;ঞm]_bv|;ulbm"bm]-rou;-m7u;|†umbm]|o
-mh;uvķ-l;l0;uo=|_;ollbvvbomo=|_;&mbˆ;uvb|‹ "ub-mh-ķ_;1omঞm†;v|ov;uˆ;om|_;o-u7vo=v;ˆ;u-Ѵ
of Colombo, Sri Lanka and of the Task Force setup by the r†0Ѵb11olr-mb;vĺ
oˆ;uml;m|=ou$v†m-lbu;1omv|u†1ঞomĺ
Mr. En Ping Ong
"_;‰-v|_;Cuv|‰ol-m;Š;1†ঞˆ;|ofobm-1oll;u1b-Ѵ
0-mhķm-l;Ѵ‹-mho=;‹Ѵomķ;ˆ;m|†-ѴѴ‹;-umbm]|_;u-u; uĺmbm]m]‰-v-rrobm|;7|o|_;o-u7o= bu;1|ouv
7bvঞm1ঞomo=0;1olbm]|_;Cuv|‰ol-m;m;u-Ѵ-m-];uņ o= |_; olr-m‹ om ƐѶ|_ -m†-u‹ ƑƏƐƏĺ  uĺ m]
o=|_;-mhķ-Cuv|=ou-m‹0-mhbm"ub-mh--m7|_; ]u-7†-|;7 =uol -uˆ-u7 &mbˆ;uvb|‹ ‰b|_ -  Őomvő bm
vb-m!;]bomĺ rrѴb;7 -|_;l-ঞ1v -m7 Ѵ-|;u -‚;m7;7 |_; u-7†-|;
"1_ooѴo=†vbm;vv-|"|-m=ou7&mbˆ;uvb|‹=ou_bvĺ;
"_; ‰-v -Ѵvo _-bul-mņ bu;1|ou o= v;ˆ;u-Ѵ Cm-m1b-Ѵ
_-v - 0-1h]uo†m7 bm mˆ;v|l;m| -mhbm] -m7 bv =o1†v;7
bmvঞ|†ঞomv v†1_ -v |_; -ঞom-Ѵ ;ˆ;Ѵorl;m| -mhķ
om]uo‰bm]|_;u;-Ѵ;v|-|;0†vbm;vvo="_bm]‰-muo†rĺ
 -mhķ ;u1_-m| -mh o= "ub -mh- -m7 |_; buv|
-rb|-Ѵuo†ro=olr-mb;vĺ"_;_-vv;uˆ;7-v bu;1|ouņ
;m;u-Ѵ-m-];uņo=om;o=|_;Ѵ-u];v|rubˆ-|;0-mhv Mr. Leslie Ralph de Lanerolle
m-l;Ѵ‹ķ";‹Ѵ-m-mhĺ
uĺ !-Ѵr_ 7; -m;uoѴѴ; fobm;7 |_; o-u7 o= bu;1|ouv o=
"_;‰-v|_;_-bur;uvomo=|_;uo†ro=olr-mb;v !omƒu7†m;ƑƏƐƏĺuĺ7;-m;uoѴѴ;_-voˆ;uƔƏ
-m7 |_; uo‰mv uo†r o= olr-mb;vĺ "_; bv ru;v;m|Ѵ‹ ‹;-uvo=‰ouh;Šr;ub;m1;bm0o|_bm|_;r†0Ѵb1-m7rubˆ-|;
|_; _-bur;uvom o= "†0vb7b-ub;v o= uo‰mv uo†r o= v;1|ouvķ‰_;u;_;_-v_;Ѵ7v;mboul-m-];l;m|rovbঞomvĺ
olr-mb;vĺ"_;bv-Ѵvo- bu;1|ouo=-v|;um;u1_-m|v
-m7-|u†v|;;o=|_;-ঞom-Ѵ$u†v|o="ub-mh-ĺ _-u|;u;7m]bm;;uķuĺ7;-m;uoѴѴ;_oѴ7v--1_;ѴouĽv
7;]u;;bmbˆbѴm]bm;;ubm]Ő buv|Ѵ-vvomo†uvő=uol|_;
&mbˆ;uvb|‹o=;‹ѴomŐƐƖѵƔő-m7--v|;uĽv7;]u;;=uol
Mr. Ajit Mahendra De Silva Jayaratne |_;&mbˆ;uvb|‹o=)-|;uѴooķm|-uboķ-m-7-ŐƐƖѵѶőĺ;bv
-l;l0;uo=|_;vvo1b-ঞomo=uo=;vvbom-Ѵ-mh;uvo="ub
uĺfb|ĺ ;"ĺ-‹-u-|m;‰-vu;Ŋ-rrobm|;7|o|_;o-u7
-mh-ķ- ;ѴѴo‰o=|_;1omolb1 ;ˆ;Ѵorl;m|mvঞ|†|;o=
o= !  bm ƑƏƏƔ -v -m bm7;r;m7;m| momŊ;Š;1†ঞˆ;
|_;)ouѴ7-mhķ)-v_bm]|om-m7-om-u-u‹b=;;l0;u
bu;1|ouĺuĺ-‹-u-|m;bv-Ѵvo|_;_-bul-mo=|_;†7b|
o=|_;mvঞ|†|;o=m]bm;;ubm]"ub-mh-ĺ
ollb‚;;o=|_;olr-m‹ĺ
uĺ ; -m;uoѴѴ; _-v ‰ouh;7 rubl-ubѴ‹ bm |_; C;Ѵ7
uĺ -‹-u-|m; ]u-7†-|;7 =uol |_; &mbˆ;uvb|‹ o=
o= uof;1| bm-m1; -m7 -m-];l;m|ķ †m7;u|-hbm]
"o†|_-lr|omķ &ĺĺ ‰b|_ - "1 7;]u;; bm 1omolb1vĺ
-vvb]ml;m|vbm7bˆ;uv;v;1|ouvo=|_;;1omol‹ķ;vr;1b-ѴѴ‹
$_;u;-[;u _; t†-ѴbC;7 -v - ;ѴѴo‰ o= |_; mvঞ|†|; o=
bm|_;Cm-m1b-Ѵv;uˆb1;vķu;-Ѵ;v|-|;-m7ruor;u|‹ķ|o†ubvlķ
_-u|;u;7 11o†m|-m|v o= &ĺĺ !;|†umbm] |o "ub -mh-ķ
_o|;Ѵ-m7|u-mvrou|-ঞomv;1|ouvĺm-mbm7bˆb7†-Ѵ1-r-1b|‹ķ
_; 0;1-l; - l;l0;u o= |_; mvঞ|†|; o= _-u|;u;7
he has served as Consultant to several private companies,
11o†m|-m|vo="ub-mh-ĺ
ruoˆb7bm] ruof;1| u;Ѵ-|;7 -7ˆbvou‹ v;uˆb1;v =uol ru;Ŋ
bmˆ;v|l;m||oblrѴ;l;m|-ঞomĺ
 11
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

uĺ7;-m;uoѴѴ;bv1†uu;m|Ѵ‹ķ- bu;1|ouo=!-m7b|v o=;Š|;mvbˆ;;Šr;ub;m1;bm|_;C;Ѵ7o=;1omolb1vķ0-mhbm]ķ

]uo†r1olr-mb;vbu;h--rb|-Ѵ-m7Őˆ|ő|7-m7bu;h- Cm-m1;ķ u;]†Ѵ-ঞom -m7 -7lbmbv|u-ঞomķ _-ˆbm] _;Ѵ7 -
ol;v Őˆ|ő |7ĺ ; _-v -Ѵvo v;uˆ;7ķ -m7 1omঞm†;v |o m†l0;uo=rovbঞomvbm|_;;m|u-Ѵ-mh-m7o†|vb7;ĺ
v;uˆ;ķ om |_; o-u7 o= bu;1|ouv o= v;ˆ;u-Ѵ rubˆ-|; -m7
r†0Ѵb1Ѵbv|;71olr-mb;vĺ m u;Ѵ;-v; =uol |_; ;m|u-Ѵ -mhķ v_; _-v v;uˆ;7 -v
";1u;|-u‹ ŋ u;vb7;mঞ-Ѵ ollbvvbom om bm-m1; ş
-mhbm]ķ 7ˆbvouō bm-m1b-Ѵ ";1|ou !;=oul ollb‚;;ķ
Mr. Tissa Kumara Bandaranayake
bmbv|u‹ o= bm-m1; -m7 "r;1b-Ѵ 7ˆbvou Ő1omolb1ő ŋ
ollom‰;-Ѵ|_";1u;|-ub-|ķom7omķ&ĺ
uĺ$bvv--m7-u-m-‹-h;‰-v-rrobm|;7|o|_;o-u7o=
7bu;1|ouv o= !  -v - momŊ;Š;1†ঞˆ; bm7;r;m7;m| "_; _-v 0;;m - l;l0;u o= |_; ";1†ub|‹ ş Š1_-m];
7bu;1|ouomƐƖ|_-‹ƑƏƐƐ-m7_;bv-Ѵvo-l;l0;uo=|_; ollbvvbom o= "ub -mh-ķ |_; mv†u-m1; o-u7 o= "ub
†7b| -m7 !;l†m;u-ঞom ollb‚;;vĺ ;ѴѴo‰ l;l0;u -mh-ķ |_; _-bur;uvom o= u;7b| m=oul-ঞom †u;-†
o= |_; mvঞ|†|; o= _-u|;u;7 11o†m|-m|v o= "ub -mh- o= "ub -mh- -m7 |_; -ঞom-Ѵ -‹l;m|v o†m1bѴĺ uĺ
uĺ$bvv- -m7-u-m-‹-h; -Ѵvo _oѴ7v - ĺ"1ĺ 7;]u;; =uol -‹-l-_- _-v 0;;m - ;l0;u o= |_; )ouhbm] uo†r
|_;&mbˆ;uvb|‹o=;‹Ѵomĺ om ;m;u-Ѵ -‹l;m| "‹v|;l ;ˆ;Ѵorl;m| o= |_; -mh
=ou m|;um-ঞom-Ѵ ";‚Ѵ;l;m|vķ ;l0;u o= |_; Ѵo0-Ѵ
uĺ-m7-u-m-‹-h;u;ঞu;7=uolumv|ş+o†m]-vv;mbou
-‹l;m|v ou†lķ ;l0;u o= |_;7ˆbvou‹ -m;Ѵ o= |_;
-u|m;u bm ƑƏƏƖ -[;u Ƒƕ ‹;-uv o= ";uˆb1;ĺ ; bv - -v|
ŊѶ!;lb‚-m1;)ouhbm]uo†r-m7;l0;uo=|_;Šr;u|
Chairman of the Audit Faculty and the current Chairman of
-m;Ѵo=|_;"-=;]†-u7vv;vvl;m|oѴb1‹!;ˆb;‰ƑƏƐƏo=
|_; †-Ѵb|‹vv†u-m1;o-u7;v|-0Ѵbv_;70‹|_;mvঞ|†|;
|_;  ĺ "_; _-7 0;;m ruoˆb7bm] -7ˆbvou‹ v;uˆb1;v |o -
o=_-u|;u;711o†m|-m|vo="ub-mh-1olrubvbm]v;mbou
m†l0;uo=m|;um-ঞom-Ѵ bm-m1b-Ѵmvঞ|†ঞomv-m7;m|u-Ѵ
ruo=;vvbom-Ѵu;ru;v;m|-ঞˆ;v=uol0o|_|_;rubˆ-|;v;1|ou
-mhvbm|_;!;]bomĺ
-m7"|-|;!;]†Ѵ-|ou‹0o7b;vĺ

uĺ -m7-u-m-‹-h; ru;v;m|Ѵ‹ v;uˆ;v -v -m bm7;r;m7;m| Mr. Pravir Samarasinghe
bu;1|ouo=-‰-Ѵoh-ovrb|-Ѵvķ"-lvomm|;um-ঞom-Ѵ
ķ-†]=v-vķ!;m†h- oo7vķ!;m†h-oѴ7bm]v uĺ u-ˆbu "-l-u-vbm]_;‰-v -rrobm|;7 |o |_; o-u7 o=
ķ b1uo oѴ7bm]v |7ķ -ubv1_-m7u- bѴѴv  -m7 bu;1|ouv o= |_; 1olr-m‹ ‰b|_ ;@;1| =uol ƒƐv| -u1_
uo‰mşolr-m‹ĺ;-Ѵvov;uˆ;v-v-omv†Ѵ|-m||o ƑƏƐƓĺ
|_;o-u7o=oub|-h;-mh-ou1;Ѵ-bmŐˆ|ő|7ĺ
;bv|_;uo†r_b;=Š;1†ঞˆ;L1;uo=ˆ;uv;-v!;-Ѵ|‹
Ő;‹Ѵomővbm1;_bv-rrobm|l;m|omƐƏ|_-u1_ƑƏƐƐ
Dr. Ranee Jayamaha
-m7rubou|o‰_b1__;_;Ѵ7|_;rov|o=uo†r bu;1|ouņ
o=-7bˆ;uvbC;71om]Ѵol;u-|;ĺ
ĺĺŐomvőŐ&mbˆ;uvb|‹o=;‹Ѵomķ;u-7;mb‹-ķ"ub-mh-őķ
"1 Ő&mbˆ;uvb|‹ o= "ঞuѴbm]ķ &ĺĺőķ _  Ő&mbˆ;uvb|‹ o= ;_-vƒƏ‹;-uvo=ruo=;vvbom-Ѵ-m71oll;u1b-Ѵ;Šr;ub;m1;
u-7=ou7ķ&ĺĺőķ &mbˆŐ&mbˆ;uvb|‹o="ঞuѴbm]ķ&ĺĺő -m7_-vv;uˆ;7om|_;o-u7o= bu;1|ouvo=v;ˆ;u-Ѵr†0Ѵb1
Ѵbv|;7-m7†mѴbv|;7olr-mb;vĺ;bv-=;ѴѴo‰l;l0;uo=
uĺ !-m;; -‹-l-_- ‰-v -rrobm|;7 |o |_; o-u7 o=
|_; mvঞ|†|; o= _-u|;u;711o†m|-m|v o= "ub -mh- -m7
Directors of the Company as an Independent Non-
_-u|;u;7mvঞ|†|;o=-m-];l;m|11o†m|-m|v&-m7
Š;1†ঞˆ; bu;1|ouomƐƔ|_-u1_ƑƏƐƒķ
_oѴ7v--v|;uv ;]u;;bm†vbm;vv7lbmbv|u-ঞomĺ
uĺ !-m;; -‹-l-_- bv 1†uu;m|Ѵ‹ - o†m1bѴ l;l0;u o=
; bv |_; _-bul-m o= |_;   LѴb-|;7 uo†r o=
the University of Colombo and the Lead Consultant for
olr-mb;v-m7om7olbmb†l ;ˆ;Ѵor;uvvvo1b-ঞomo=
"o†|_vb-!;]bom=ou|_;)ouѴ7-mhuo†rĺ"_;‰-v|_;
"ub-mh-ĺ;bv-Ѵvo-ollb‚;;l;l0;uo=|_;;‹Ѵom
_-bur;uvomo=-‚om-ঞom-Ѵ-mhѴ1ĺķvv†u-m1;
_-l0;u o= oll;u1; -m7 lrѴo‹;uv ;7;u-ঞom o=
-m7"b|_l- ;ˆ;Ѵorl;m|Őˆ|ő|7ĺ uĺ-‹-l-_-_-7
;‹Ѵomĺ;‰-v=oul;u_-bul-mo=|_;"ub-mh-mvঞ|†|;
0;;m|_; ;r†|‹oˆ;umoubm1_-u];o= bm-m1b-Ѵ"‹v|;l
o= bu;1|ouvķm7†v|ub-Ѵvvo1b-ঞomo="ub-mh--m7-v|
"|-0bѴb|‹o=|_;;m|u-Ѵ-mho="ub-mh-=uolƑƏƏƓ†r|o
u;vb7;m|  "ub -mh- bˆbvbom -m7 =oul;u o†m1bѴ
_;uu;ঞu;l;m|-|;m7o=-‹ƑƏƏƖĺ"_;_-voˆ;uƓƏ‹;-uv
l;l0;uѴo0-Ѵĺ
With over 750,000 Sq.ft of Prime
RIˉFH &RPPHUFLDOVSDFHORFDWHG
in the heart of the central business
district, surrounded by Banks, Hotels
and Government Institutions with
panoramic views of the city, Sea and
Colombo Harbour, the World Trade
Center Colombo is the best business
address in Sri Lanka.

MANAGEMENT
DISCUSSION AND
ANALYSIS
14 INSPIRING
GENERATIONS

Management Review
Property Leasing

Revenue uoC|;=ou;$-Š “Despite being in

or;u-ঞom=ouoˆ;u
Rs. 1,962 Mn 2015 Rs. 2,890 Mn 2015
80% 20 years, the WTC
Rs. 1,764 Mn 2014 Rs. 2,480 Mn 2014 Colombo is unmatched
as a commercial
vv;|v b-0bѴbঞ;v 0†bѴ7bm]bm|;ulvo=
0†bѴ|t†-Ѵb|‹ķ=-1bѴbঞ;v
Rs. 28,798 Mn 2015 Rs. 1,359 Mn 2015 -m7v;uˆb1;-ˆ-bѴ-0Ѵ;ĺĿ
Rs. 26,231 Mn 2014 Rs. 1,339 Mn 2014

OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015
World Trade Center Colombo
The World Trade Center (WTC) Colombo monumental
_b]_ ubv;ķ bv m-ঞom-ѴѴ‹ u;1o]mbŒ;7 -v |_; 0;v| 0†vbm;vv
-77u;vv bm "ub -mh-ĺ ;vrb|; 0;bm] bm or;u-ঞom =ou
over 20 years, the WTC Colombo is unmatched as a
1oll;u1b-Ѵ0†bѴ7bm]bm|;ulvo=0†bѴ|t†-Ѵb|‹ķ=-1bѴbঞ;v-m7
v;uˆb1;-ˆ-bѴ-0Ѵ;ĺ
$_;u;ˆ;m†;=uolѴ;-vbm]bm1u;-v;70‹ƐƐѷ|ou;-1_ƐĺƖ
mbmƑƏƐƔĺ$_bv‰-v1om1;bˆ-0Ѵ;‰b|__b]_;u!;m|-Ѵ!-|;v
-m7l-bm|;m-m1;o=_b]_11†r-m1‹ĺomv;t†;m|Ѵ‹ķ|_;
1olr-m‹ ‰-v -0Ѵ; |o bm1u;-v; |_; u;m|-Ѵ ‹b;Ѵ7 |o Ѷĺƕѷ
bmƑƏƐƔ1olr-u;7‰b|_ru;ˆbo†v‹;-uѶĺƑѷĺ
†u|_;u|_;
r;u-ঞm] uoC| -u]bm ;Š1Ѵ†7bm] =-bu ˆ-Ѵ†; ]-bm -Ѵvo
bm1u;-v;7=uolѵѶѷ|oƕƐѷĺ
$o ;m-0Ѵ; v†v|-bm-0Ѵ; ]uo‰|_ bm u;ˆ;m†; -m7 ruoC|vķ
)$oѴol0o‰bѴѴv|ubˆ;|ou;|-bm_b]_11†r-m1‹-m7
!;m|-Ѵ !-|;vĺ $_; ru;ˆ-bѴbm] ]Ѵo0-Ѵ -m7 Ѵo1-Ѵ ;1omolb1
†m1;u|-bm|‹ 1ol0bm;7 ‰b|_ |_; _b]_;u u;m|-Ѵ u-|;v o=
)$‰bѴѴl-h;ƑƏƐѵ-1_-ѴѴ;m]bm]‹;-uĺ
15
); -u; bm |_; ruo1;vv o= †r]u-7bm] |_; )$Ľv v|-m70‹
ro‰;u];m;u-|ou1-r-1b|‹|ov†rrou|-ѴѴ0†bѴ7bm]v;uˆb1;v
;Š1Ѵ†7bm]-buŊ1om7bঞombm]ĺ)b|_|_bv†r]u-7;-ѴѴ0†bѴ7bm]
v;uˆb1;v bm1Ѵ†7bm] -ѴѴ ;Ѵ;ˆ-|ouvķ ;v1-Ѵ-|ouvķ |;m-m|vĽ -m7
1ollom -u;- Ѵb]_ঞm] -m7 ro‰;uķ -bu 1bu1†Ѵ-ঞom -m7 Ѵb=;
v†rrou|v‹v|;lv‰bѴѴ0;=†ѴѴ‹=†m1ঞom-Ѵ;ˆ;mbm|_;;ˆ;m|
o=|o|-Ѵ=-bѴ†u;o=|_;m-ঞom-Ѵ]ub7ĺ
m -77bঞomķ - 1olrѴ;|; 0†bѴ7bm] u;=†u0bv_l;m| -m7
lo7;umbŒ-ঞom ruo]u-l bv bm ruo]u;vv |o †rѴb[ |_;
m7
=†m1ঞom-Ѵb|‹ o= 0†bѴ7bm] v;uˆb1;vķ -;v|_;ঞ1vķ -m7
b|ouv
lo7;umbŒ-ঞomo=v‹v|;lv|ov;uˆ;o†u|;m-m|v-m7ˆbvb|ouv
lou;;L1b;m|Ѵ‹ĺ
=|_;-m7
$_;olr-m‹‰-vu;1o]mbŒ;7-v|_;;-7;uo=|_;-m7
 ƐƏƏ
-m7uor;u|‹";1|ouƑƏƐƓņƑƏƐƔ-||_; ƐƏƏ
‰-u7v;u;lom‹ĺ
16 INSPIRING
GENERATIONS

Management Review
Property Trading

Revenue uoC|;=ou;$-Š ľ$_;-ˆ;Ѵo1h

City project would
Rs. 974 Mn 2015 Rs. 112 Mn 2015 80% contribute to the
Rs. 4,329 Mn 2014 Rs. 949 Mn 2014 changing real estate
l-uh;|bm"ub-mh-
vv;|v b-0bѴbঞ;v ‰_bѴv|1u;-ঞm]ˆ-Ѵ†;|o
o†uv_-u;_oѴ7;uvĺĿ
Rs. 4,571 Mn 2015 Rs. 791 Mn 2015
Rs. 5,249 Mn 2014 Rs. 1,480 Mn 2014
 17
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

Havelock City
-ˆ;Ѵo1h b|‹ bv -m bm|;]u-|;7 lbŠ;7 †v; u;-Ѵ ;v|-|; †mb|vķl-uh;ঞm]o=_-v;ƒ‰-vr†|om_oѴ77†ubm]ƑƏƐƔ
7;ˆ;Ѵorl;m| ruof;1|ķ 1olrubvbm] !;vb7;mঞ-Ѵ -m7 -m7u;ŊѴ-†m1_;7bm-u1_ƑƏƐѵĺ
oll;u1b-Ѵ 1olrom;m|vĺ m 1olrѴ;ঞom |_; ruof;1|
‰o†Ѵ7 1omvbv| o= Ѷ !;vb7;mঞ-Ѵ r-u|l;m| $o‰;uvķ - omv|u†1ঞom o= |_; u;l-bmbm] _-v;v o= -ˆ;Ѵo1h
"_orrbm] -ѴѴ -m7 -m L1; $o‰;u o@;ubm]  u-7; b|‹ u;vb7;mঞ-Ѵ bv 0;bm] ;Šr;7b|;7 ‰b|_ vbl†Ѵ|-m;o†v
L1;"r-1;-Ѵom]‰b|_-";uˆb1;7r-u|l;m|ĺ 7;ˆ;Ѵorl;m|o=_-v;ƒşƓĺomv|u†1ঞombv;Šr;1|;7|o
1oll;m1;bmrubѴƑƏƐѵĺ
$_; v|-|; o= |_; -u| Ѵ†0_o†v;ķ |_; Ѵ-u];v| bm "ub -mh-
‰b|_ u;1u;-ঞom-Ѵ =-1bѴbঞ;v bm1Ѵ†7bm] - ]‹lm-vb†lķ $_;vh‹Ѵbm;o=oѴol0o_-v0;;m1_-m]bm]1omঞm†o†vѴ‹
v‰bllbm]rooѴv-m7-1†ŒŒb=ou|_;u;vb7;m|v-Ѵom]‰b|_ vbm1;ƑƏƏƖķ‰b|_|_;1om1Ѵ†vbomo=|_;|_u;;7;1-7;ŊѴom]
vt†-v_1o†u|vķ-m;m|;u|-bml;m|Ѵo†m];ķ-u;v|-†u-m|-m7 1bˆbѴ‰-uķ-m7|_;u;v†Ѵ|-m|roѴbঞ1-Ѵ-m7;1omolb1v|-0bѴb|‹
banquet halls for the use of the residents and the public -m7]uo‰|_ĺ$_;-ˆ;Ѵo1hb|‹ruof;1|‰o†Ѵ71om|ub0†|;
-Ѵbh;bv=†ѴѴ‹or;u-ঞom-Ѵĺ ;v|
v|-|
-|;
-|; l-
;
|o |_; 1_-m]bm] u;-Ѵ ;v|-|; l uh;| bm
l-uh;| m "
bm "ub -mh- ‰_bѴv|
u v_-
_-u;
u;_o
_oѴ7
Ѵ7;uvĺ
1u;-ঞm]ˆ-Ѵ†;|oo†uv_-u;_oѴ7;uvĺ
!;ˆ;m†; o= !v ƖƕƓ m ‰-v u;1ou7;7 =uol "-Ѵ; o=
r-u|l;m|v=uol|_;u;l-bmbm]v|o1ho=_-v;ƑĺmѴ‹ƒ
Penthouses of Phase 2 are available in inventory as at end
o= ƑƏƐƔĺ)b|_ - 1ollb‚;7 v-Ѵ; o= ƓѶ †mb|v o†| o= ƒƏƓ
18 INSPIRING
GENERATIONS

Management Review
Property Services

Revenue uoC|;=ou;$-Š ľ$_;1omঞm†o†v

7;ˆ;Ѵorl;m|-m7
Rs. 167 Mn 2015 Rs. 21 Mn 2015 l-|†ub|‹o=|_;
Rs. 74 Mn 2014 Rs. 10 Mn 2014 Commercial and
Condominium property
vv;|v b-0bѴbঞ;v l-uh;|‰bѴѴ1u;-|;-
7;l-m7=ouo†|vo†u1;7
Rs. 58 Mn 2015 Rs. 54 Mn 2015 ruo=;vvbom-Ѵu;-Ѵ;v|-|;
Rs. 32 Mn 2014 Rs. 20 Mn 2014 v;uˆb1;ruoˆb7;uvĺĿ
 19
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

uor;u|‹";uˆb1;v-m7$u-7bm]
$_; olr-m‹ 1omঞm†;v |o 0; |_; l-uh;| Ѵ;-7;u bm
ruoˆb7bm] ruor;u|‹ u;Ѵ-|;7 v;uˆb1;v bm |_; o†m|u‹ ‰b|_
lou;|_-mƔmvtĺ[o=rubl;1oll;u1b-Ѵ-m7u;vb7;mঞ-Ѵ
ruor;uঞ;v †m7;u b|v l-m-];l;m|ĺ †ubm] |_; Ѵ-v| |_u;;
‹;-uv|_;v;1|ou0uo-7;m;7b|vu-m];o=v;uˆb1;vo@;u;7
‰b|_ ruor;u|‹ -m7 7;ˆ;Ѵorl;m| l-m-];l;m|ķ -];m1‹
|o -7ˆbvou‹ v;uˆb1;vĺ $_; olr-m‹ ‰-v -‰-u7;7 |_;
-1bѴbঞ;v -m-];l;m| 1om|u-1|v =ou |‰o lou; Ѵ;-7bm]
;v|-0Ѵbv_l;m|v7†ubm]ƑƏƐƔĺ
$_;7;l-m7=ouu;-Ѵ;v|-|;-vv;|vbm"ub-mh-_-vv_o‰m
vb]mbC1-m|]uo‰|_bm|_;r-v|=;‰‹;-uvĺ$_;1omঞm†o†v
development and maturity of the Commercial and
om7olbmb†l ruor;u|‹ l-uh;|‰bѴѴ 1u;-|; - 7;l-m7 =ou
o†|vo†u1;7ruo=;vvbom-Ѵu;-Ѵ;v|-|;v;uˆb1;ruoˆb7;uvĺ
$_; olr-m‹Ľv -];m1‹ -m7 1omv†Ѵ|-m1‹ v;uˆb1;v -Ѵvo
]u-7†-ѴѴ‹]u;‰om|_;vo†m7lol;m|†lѴ-b77†ubm]Ѵ-v|
|‰o‹;-uvĺ
Trading
†ubm] |_; ‹;-u †m7;u u;ˆb;‰ķ !;-Ѵ|‹ -m-];l;m|
";uˆb1;vŐˆ|ő|7|_;;Š1Ѵ†vbˆ;7bv|ub0†|oubm"ub-mh-=ou
(b]_ঞm]1omঞm†;7|o]uo‰b|Ľvl-uh;|ru;v;m1;-m7
uo=
v;1†u;blrou|-m|fo0vĺ(bv|_;Ѵ-u];v|l-m†=-1|†u;uo=
†|7oou
Ѵb]_ঞm]voѴ†ঞomvbm_bm-u-m]bm]=uolm7oouķ†|7oou
|o ;1ou-|;7 b]_ঞm]ĺ ); -u; 1omC7;m| |_-| |_bv _b]_
|o=|_
|_;
|_; u;
t†-Ѵb|‹0u-m7‰bѴѴ]uo‰‰b|_|_;7;ˆ;Ѵorl;m|o=|_;u;-Ѵu;-Ѵ
;v|-|;-m7bm=u-v|u†1|†u;v;1|ouĺ

$_;";1|ouu;1ou7;7-]uo‰|_o=ƐƑѵѷoˆ;u|_;ru;ˆbo†v
‹;-u|ou;]bv|;u-u;ˆ;m†;o=!vƐѵƕmĺ
20 INSPIRING
GENERATIONS

Financial Review

The Economy $_;u;ˆ;m†;=uolu;mঞm]vr-1;v-|)$]u;‰0‹ƐƐѷ|o

ƐķƖѵƑmķ‰_b1_u;v†Ѵ|;7=uol|_;bm1u;-v;o=u;m|-Ѵu-|;v
The Sri Lanka economy in 2015 recorded an Annual Gross
‰_bѴ;|_;-ˆ;u-];o11†r-m1‹u;l-bm;7vblbѴ-u|oѴ-v|‹;-u
ol;vঞ1uo7†1|Ő ő]uo‰|_o=ƔĺƔѷ1olr-u;7|o|_;
-|-uo†m7ƖѶѷĺ
]uo‰|_ o= ƕĺƓѷ bm ƑƏƐƓķ‰_bѴv| -mm†-Ѵ -ˆ;u-]; bmY-ঞom
‰-vƒĺѶѷĺm|;u;v|u-|;u;l-bm;7bmvbm]Ѵ;7b]b|vķ_o‰;ˆ;u
!;ˆ;m†; o=  =uol |_; v-Ѵ; o= 1om7olbmb†l †mb|v
|_;u;‰-v-mbm1u;-vbm]|u;m7|o‰-u7v|_;Ѵ-|;ur-u|o=|_;
-lo†m|;7 |o !v Ɩƕƒ mķ - 7;1u;-v; o= ƕѶѷ oˆ;u |_;
‹;-uĺ †ubm]|_;‹;-u|_;;m|u-Ѵ-mh7;1b7;7|o-ѴѴo‰
ru;ˆbo†v ‹;-u 7†; |o Ѵo‰;u u;ˆ;m†; u;1o]mbŒ;7 =uol
]u;-|;u Y;Šb0bѴb|‹ bm 7;|;ulbm-ঞom o= |_; ;Š1_-m]; u-|;ķ
r-u|l;m|"-Ѵ;vo=-ˆ;Ѵo1hb|‹ĺ
1omv;t†;m|Ѵ‹ķ"ub-mh-!†r;;7;ru;1b-|;70‹Ɩѷ-]-bmv|
|_;&" oѴѴ-u7†ubm]|_;‹;-uĺ !" 1om|ub0†|;7 !v Ɛѵƕ m ŐƑƏƐƓ !v ƕƓ mő |o |_;
]uo†ru;ˆ;m†;‰_b1_bm1Ѵ†7;7!vѶƔmŐƑƏƐƓ!vƒƕmő
)b|_bm |_bv 1_-ѴѴ;m]bm] l-1uoŊ;1omolb1 1om7bঞomvķ |_;
=uol ruor;u|‹ v;uˆb1;v -m7 !v ƐѶ m ŐƑƏƐƓ !v ƐƔ mő
uo†r v_o‰;7 ‰ou|_‹ r;u=oul-m1; =ou |_; ‹;-u †m7;u
=uol-];m1‹1ollbvvbom-m7!vѵƓmŐƑƏƐƓ!vƑƒmő
u;ˆb;‰ĺ
=uol|u-7bm]o=blrou|;7Ѵb]_ঞm]voѴ†ঞomvĺ

Sri Lanka WTC Colombo

ѷ % Rs Per Sq Ft

8 150 100 330

145 310
7
140 290
95
6
135 270
5
130 250
90
4 125 230

120 210
3
115 85
190
2
110 170
1
105 80 150
2011 2012 2013 2014 2015
0 100
2011 2012 2013 2014 2015 Occupancy %

m=-ঞomѷ Rental Rate Index (Rs Per Sq Ft)

Exchange Rate

Revenue r;u-ঞm]Šr;mv;v

†ubm]ƑƏƐƔķuo†r!;ˆ;m†;o=!vƒķƐƓƐm‰-vƓƖѷ
Ѵo‰;u |_-m Ѵ-v| ‹;-u 7†; |o Ѵo‰;u u;ˆ;m†; u;1o]mbŒ;7
=uol r-u|l;m| v-Ѵ;vĺ $_; l-bm vo†u1;v ‰;u; 7;ubˆ;7
=uol ˆ;uv;-v !;-Ѵ|‹ Ő;‹Ѵomő ĸ |_uo†]_ Ѵ;-vbm] o=
oL1;vr-1;-||_;)ouѴ7$u-7;;m|;uŐ)$őoѴol0oķ
bu;h- ol;v Őˆ|ő |7 Őőĸ |_uo†]_ |_; v-Ѵ; o=
condominium units at Havelock City (HC) and Realty
-m-];l;m|";uˆb1;vŐˆ|ő|7Ő!"őĸ|_uo†]_ruor;u|‹
v;uˆb1bm]ķ -];m1‹ 1ollbvvbom -m7 |u-7bm] o= blrou|;7
Ѵb]_ঞm]voѴ†ঞomvĺ
$_;olr-m‹Ľvor;u-ঞm];Šr;mv;v=ou|_;‹;-uo=!vƔѶƒ
mķ‰-vomѴ‹Ɛѷlou;|_-mѴ-v|‹;-uķ‰b|_v|ubm];m|1ov|
1om|uoѴl;-v†u;v-7or|;70‹|_;1olr-m‹ĺ
uo†r or;u-ঞm] ;Šr;mv;v bm1Ѵ†7bm] ;Šr;mv; bm1†uu;7
oml-uh;ঞm]‰;u;!vѶƔƒmķ‰_b1_‰-v-mbm1u;-v;o=
ƐƓѷķ7†;l-bmѴ‹|oor;u-ঞm];Šr;mv;vo=!"ĺ
 21
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

uovvuoC| mő ‰_b1_ 1omvbv| o= !v Ɩƕƕ m u;1;bˆ;7 |_uo†]_ |_;
!b]_| vv†; 7†ubm] |_; ‹;-uķ _;m1; ;Š1Ѵ†7bm] |_; !b]_|
uo†ruovvuoC|o=!vƐķƖƓƏm‰-vƐƖѷѴo‰;u|_-m
vv†;|_;]uo†r‰-v-0Ѵ;|o]uo‰|_;1-v_-m7v_ou||;ul
Ѵ-v|‹;-uĺuovvuoC|=uolruor;u|‹Ѵ;-vbm]o=|_;)$
bmˆ;v|l;m|v0‹ƕѷ7†ubm]|_;‹;-uĺ
oѴol0o ‰-v !v ƐķƔѶƕĺƔ mķ -m bm1u;-v; o= ƐƓѷ oˆ;u
|_;ru;ˆbo†v‹;-u7†;l-bmѴ‹|obm1u;-v;o=u;m|-Ѵu-|;vĺ
$_; uo†rĽv |o|-Ѵ 0ouuo‰bm]‰-v !v Ɩѵ m ŐƑƏƐƓ ŋ !v
uovv uoC| =uol |_; v-Ѵ;v o= -r-u|l;m|v -| -ˆ;Ѵo1h
ƐķƏѶƑ mőķ 7†ubm] |_; ‹;-u |_; 1olr-m‹Ľv v†0vb7b-u‹
b|‹‰-vƒƑƐmķ‰_b1_‰-v-7;1u;-v;o=ѵƖѷoˆ;u|_;
bu;h-ol;v=†ѴѴ‹v;‚Ѵ;7|_;Ѵo-mo0|-bm;7=ou|_;
ru;ˆbo†v ‹;-uķ 7†; l-bmѴ‹ |o Ѵo‰;u u;ˆ;m†; u;1o]mbŒ;7
!;vb7;mঞ-Ѵ ;ˆ;Ѵorl;m|-m7|_;u;l-bmbm]!vƖѵm‰-v
=uol-r-u|l;m|v-Ѵ;vo=-ˆ;Ѵo1hb|‹ĺ
"!ş$;uuoubvlvo[Ѵo-mo0|-bm;7=uol-mho=;‹Ѵomĺ

r;u-ঞm]uoC|
;|vv;|v
$_;1olr-m‹or;u-ঞm]ruoC|ŐŠ1Ѵ†7bm]=-buˆ-Ѵ†;]-bmőo=
As at 31st December 2015 the Net Asset Value Per Share
ƐķƓƑѵmķ‰-vƐƔѷ_b]_;u|_-mѴ-v|‹;-uĺr;u-ঞm]ruoC|
‰-v!vƒƑĺƑƑŐƑƏƐƓŋ!vƒƏĺƕƓő‰_b1_bm1u;-v;70‹Ɣѷ
l-u]bm ŐŠ1Ѵ†7bm] =-buˆ-Ѵ†; ]-bmő -Ѵvo blruoˆ;7 |o ƕƐѷ
oˆ;u|_;ru;ˆbo†v‹;-uĺ
=uolѵѶѷ7†;l-bmѴ‹|o_b]_;uu;m|-Ѵu-|;v-m7v|ubm];m|
1ov|1om|uoѴl;-v†u;vĺ
-umbm]v;u"_-u;

bm-m1;m1ol;-m7 bm-m1;Šr;mv;v $_;uo†r-umbm]v;u"_-u;=ou|_;‹;-uƑƏƐƔ‰-v!v

ƒĺƓƓŐƑƏƐƓŋ!vƒĺƓѶő‰_b1_bv-7;1u;-v;o=Ɛѷoˆ;u|_;
uo†r bm-m1; bm1ol; o= !v ƐѶƑmķ v_o‰v - 7;1u;-v;
Ѵ-v|‹;-uĺ
o=ƒѷoˆ;u|_;ru;ˆbo†v‹;-uĺo‰;ˆ;u;Š1Ѵ†7bm]" !"
-7f†v|l;m|vķb|bv-mbm1u;-v;o=Ɛƒѷĺ
ub1;-umbm]v!-ঞo
$_;1olr-m‹_-vu;1ou7;7-1ov|o=!vƒmŐƑƏƐƓŋƑƕ $_; ub1; -umbm]v u-ঞo o= |_; olr-m‹ -v -| ƒƐv|
mő-v=-buˆ-Ѵ†;-7f†v|l;m|om!;m|-Ѵ ;rovb|vķ-7_;ubm] ;1;l0;uƑƏƐƔ‰-vѵĺƕঞl;vŐƑƏƐƓŊƕĺѵঞl;vő
|o" !"u;t†bu;l;m|vĺ

uoC|;=ou;$-ŠŐ$ő
uo†r uoC| ;=ou; $-Š o= !v ƒķƏƕƒ m ‰-v Ɩѷ Ѵo‰;u
|_-m |_; ru;ˆbo†v ‹;-uķ ‰b|_ Ѵo‰;u !;ˆ;m†; -m7 uovv
uoC|ĺ
Dividends
bˆb7;m7v r-b7 |o ou7bm-u‹ v_-u; _oѴ7;uv ‰-v !v ƐĺƔƏ
ŐƑƏƐƓŋ!vƐĺƓƔőĺ$_;7bu;1|ouv_-ˆ;ruorov;7-7bˆb7;m7
o=!vƐĺƔƏ|o|_;ou7bm-u‹v_-u;_oѴ7;uv=ou|_;‹;-u;m7;7
ƒƐv| ;1;l0;uƑƏƐƔĺ

$-Š-ঞom
$_;bm1ol;|-Š;Šr;mv;o=|_;uo†r-m7|_;olr-m‹
‰;u;!vƓƑm-m7Ƒƒmu;vr;1ঞˆ;Ѵ‹ĺm-77bঞomvbm1;
|_; uo†r m;| uoC| bm ƑƏƐƒ ;Š1;;7;7 !v Ƒ mķ |_;
1olr-m‹-m7b|vv†0vb7b-ub;vr-b7"†r;u-bm$-Šo=!vƓƖ
m7†ubm]|_;‹;-uĺ$_bv‰-v-11o†m|;7-]-bmv|u;|-bm;7
;-umbm]v bm |_; ;t†b|‹ v|-|;l;m| bm -11ou7-m1; ‰b|_
|_; "|-|;l;m| o= Ѵ|;um-ঞˆ; $u;-|l;m| om -11o†mঞm]
=ou "†r;u -bm $-Š bvv†;7 0‹ |_; mvঞ|†|; o= _-u|;u;7
11o†m|-m|vo="ub-mh-ķomƑƓoˆ;l0;uƑƏƐƔĺ
-v_-m7ouuo‰bm]v
"oѴˆ;m1‹
";1ঞomƔѵo=|_;olr-mb;v1|moƏƕo=ƑƏƏƕu;t†bu;v
that a solvency test be carried out prior to the payment
o=7bˆb7;m7vĺ1;uঞC1-|;o=-voѴˆ;m1‹=uol|_;†7b|ouv
‰-vo0|-bm;7=ou|_;ruorov;77bˆb7;m7r-‹l;m|ĺ
!;|†umomt†b|‹Ő!ő
$_;uo†r!;|†umomt†b|‹Ő!ő=ou|_;‹;-uƑƏƐƔ‰-v
ƐƐѷ ŐƑƏƐƓ Ŋ Ɛƒѷő -m7 |_; 7;1u;-v;‰-v 7†; l-bmѴ‹ |o
Ѵo‰;uv-Ѵ;vşruoC|ķ=uol"-Ѵ;o=r-u|l;m|vĺ

The Group’s cash and short term investment as at 31st

;1;l0;uƑƏƐƔ‰;u;!vƓķƔƑƕĺƕmŐƑƏƐƓŋ!vƒķƒƑƔ
22 INSPIRING
GENERATIONS

Financial Review

vv;|v

$_;uo†r|o|-Ѵvv;|-v;bm1u;-v;70‹!vƐķƖƖѶm=uol
!vƒƏķƑƕѵmbmƑƏƐƓ|o!vƒƑķƑƕƓmbmƑƏƐƔĺ-bm
bm1u;-v;bv=uolmˆ;v|l;m|uor;u|‹‰_b1_bm1u;-v;70‹
!vƐķƐƕƔm‰b|_|_;=-buˆ-Ѵ†-ঞomĺ

b-0bѴb|‹

$o|-Ѵ b-0bѴbঞ;v -v -| ƒƐ ;1;l0;u ƑƏƐƔ o= !v ƑķƐƔƕ
m‰-vƑƓѷŐ!vѵѶƒmőѴo‰;u|_-m|_;Ѵ-v|‹;-uķ7†;
l-bmѴ‹ |o v;‚Ѵ;l;m| o= Ѵo-m o0|-bm;7 =ou -ˆ;Ѵo1h b|‹
!;vb7;mঞ-Ѵ ;ˆ;Ѵorl;m|ĺ

$o|-Ѵt†b|‹

$o|-Ѵ t†b|‹ bm1u;-v;7 0‹ !v ƑķѵѶƐm 7†; |o |_; !b]_|
vv†;v o= ƓƓķƒƖƒķƖƐƓ m;‰ ou7bm-u‹ v_-u;v ;-1_ bvv†;7
-|!vƑƑņŊr;uv_-u;-m7!;|-bm;7-umbm]v=ou|_;‹;-u
;m7;7ƒƐv| ;1;l0;uƑƏƐƔĺ

;|m1u;-v;bm-v_-m7-v_t†bˆ-Ѵ;m|v

†ubm]|_;‹;-uƑƏƐƔ|_;uo†r];m;u-|;7!vƑķƒѵѶm
=uol r;u-ঞm] 1ঞˆbঞ;vķ -[;u †vbm] !v ƐķѶƔƕ m =ou
mˆ;vঞm]-m7 bm-m1bm]1ঞˆbঞ;vķ|_;uo†rĽv-v_-m7
-v_t†bˆ-Ѵ;m|vbm1u;-v;70‹!vƔƐƐmĺ

11o†mঞm]oѴb1b;v

The Financial Statements contained in this report are

ru;r-u;7 bm -11ou7-m1; ‰b|_ |_; "ub -mh- bm-m1b-Ѵ
!;rouঞm] "|-m7-u7v Ő" !"ő |_; u;t†bu;l;m|v o= |_;
oѴol0o"|o1hŠ1_-m];-m7|_;olr-mb;v1|oƏƕ
o=ƑƏƏƕĺ
We have made our
indelible mark in the
evolving skyline of
Colombo city through our
landmark commercial
property, the World Trade
Centre and the urban
lifestyle complex of
Havelock City.
24 INSPIRING
GENERATIONS

Sustainability Report

uo†r"†v|-bm-0bѴb|‹"|u-|;]‹
uo‰bm] - v†v|-bm-0Ѵ; 0†vbm;vv bv o†u 1ou; v|u-|;]‹ -m7
1ourou-|; u;vromvb0bѴb|‹ _-v Ѵom] 0;;m - r_bѴovor_‹
-| ˆ;uv;-v !;-Ѵ|‹ Ő;‹Ѵomő ĺ | _-v 0;;m - ‰-‹ |o
1omm;1| ‰b|_ |_; vo1b;ঞ;v bm ‰_b1_ ‰; or;u-|;ķ - ‰-‹
|orovbঞˆ;Ѵ‹1om|ub0†|;|o|_;]Ѵo0-ѴC]_|-]-bmv|]Ѵo0-Ѵ
‰-ulbm]-m7lov|blrou|-m|Ѵ‹-‰-‹|o;mub1_|_;Ѵbˆ;v
o= o†u v|-h;_oѴ7;uvĺ †u ;@ou|v |o‰-u7v |_-| ;m7 _-ˆ;
rubl-ubѴ‹ 0;;m loঞˆ-|;7 0‹ o†u m;;7 |o 0;1ol; lou;
v†v|-bm-0Ѵ;bm-ѴѴ-vr;1|vo=|_;0†vbm;vvĺ
-m-];l;m|-rruo-1_7ubˆ;m0‹bm|;]u-|;7
v†v|-bm-0bѴb|‹roѴb1‹
$_;uo†r1omঞm†;v|ov|u-|;]b1-ѴѴ‹bm|;]u-|;v†v|-bm-0Ѵ;
ru-1ঞ1;v-1uovv;ˆ;u‹-vr;1|o=b|Ľvor;u-ঞomĺ$_;uo†r
-7or|v 0;v| ru-1ঞ1;v bm ;1omolb1ķ ;mˆbuoml;m|-Ѵ -m7
vo1b-Ѵ]oˆ;um-m1;bmou7;u|o]bˆ;-0;‚;uѴb=;|o-ѴѴ|_;
v|-h;_oѴ7;uv-m7vo1b;|‹ĺ

$_;-m-];l;m|rruo-1_†|Ѵbm;7

ou;u;- -m-];l;m|rruo-1_

!bvh-m7 ourou-|;]oˆ;um-m1;v|u†1|†u;ķroѴb1b;v-m7rubm1brѴ;vĺ
oˆ;um-m1; !bvh-m-];l;m| u-l;‰ouh-ѴѴo‰v|_;o-u7o= bu;1|ouvķ|_;ollb‚;;o=-m-];l;m|ķ
|_;†7b|ollb‚;;-m7|_;";mbou-m-];l;m|o=|_;uo†r|orѴ-‹-mbm|;]u-ѴuoѴ;bm|_;
ruo1;vvo=ubvhl-m-];l;m|ĺ

-uh;|u;v;m1; r;u-|;vbm=o†uh;‹or;u-ঞom-Ѵ-u;-vĺuor;u|‹;-vbm]ķuor;u|‹$u-7bm]ķuor;u|‹
and Economic -m-];l;m|-m7$u-7bm]ĺ
(-Ѵ†;1u;-ঞom

mˆbuoml;m|-Ѵ mˆbuoml;m|-Ѵ-m7vo1b-Ѵv†v|-bm-0bѴb|‹roѴb1b;v]oˆ;um|_;v†v|-bm-0bѴb|‹;@ou|v-m7r-u-l;|;uv
& Social o=;-1_o=|_;olr-m‹Ľvor;u-ঞom-Ѵ7;r-u|l;m|vĺ
Sustainability omb|ouv7b@;u;m|h;‹-u;-vv†1_-v;m;u]‹ķ‰-|;u†v-];ķu;1‹1Ѵbm]‰-|;uķ‰-v|;‰-|;uķvoѴb7
‰-v|;ķt†-Ѵb|‹o=-buķ-buroѴѴ†ঞomķvo†m7roѴѴ†ঞomķ|u-mvrou|ķ-m7;1ov‹v|;ll-m-];l;m|ķvo1b-Ѵ
-m71†Ѵ|†u-Ѵ7;ˆ;Ѵorl;m|bmˆoѴˆbm]bm|;um-Ѵ-m7;Š|;um-Ѵv|-h;_oѴ7;uvĺ

Employee 7or|v-_†l-m7;ˆ;Ѵorl;m|-rruo-1_|_-|_-v‹b;Ѵ7;7rovbঞˆ;u;v†Ѵ|v;vr;1b-ѴѴ‹bm|;ulvo=
;ˆ;Ѵorl;m|ķ 1-u;;u7;ˆ;Ѵorl;m|-m7bm1†Ѵ1-ঞomo=1ourou-|;ˆ-Ѵ†;v-m7o‰m;uv_br|_-|;Š|;m7v0;‹om7|_;
Equal 1omˆ;mঞom-Ѵ-rruo-1_ĺ
Opportunity & 7or|v-roѴb1‹o=bmmoˆ-ঞˆ;|u-bmbm]-m71omঞmo†vѴ;-umbm]|_-|oˆ;u1ol;v|_;1†v|ol-u‹
mঞŊ1ouu†rঞom 0-uub;uv|o;@;1ঞˆ;Ѵ;-umbm]ĺ
;m7;u;t†-Ѵb|‹-m7;t†-Ѵorrou|†mb|‹]oˆ;um;70‹†l-m!;vo†u1;roѴb1‹ĺ
mঞŊ1ouu†rঞom|u-bmbm];Š|;m7;7|o-ѴѴ;lrѴo‹;;v‰b|__om;v|‹0;bm]-h;‹1ourou-|;ˆ-Ѵ†;ĺ

Sustainable "†v|-bm-0Ѵ;v†rrѴb;uroѴb1‹7b1|-|;v|_-|v†rrѴb;uv0;;ˆ-Ѵ†-|;7-m7ru;=;u;m1;]bˆ;m0-v;7om
Purchase and |_;buo‰m1ollb|l;m|v|ov†v|-bm-0Ѵ;ru-1ঞ1;ĺ
Produce †Ѵhr†u1_-vbm]bv]bˆ;mruboub|‹-m7v†rrѴb;vbmu;|†um-0Ѵ;1om|-bm;uv-u;;m1o†u-];7ĺ

OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015
Water Management
!;1o]mbŒbm]|_;]Ѵo0-Ѵ‰-|;u1_-ѴѴ;m];ķˆ;uv;-v!;-Ѵ|‹
Ő;‹Ѵomőbv‰ouhbm]bm|;um-ѴѴ‹|o1omঞm†o†vѴ‹blruoˆ;
o†u or;u-ঞomv bm ou7;u |o lbmblbŒ; ‰-|;u 1omv†lrঞom
‰_bѴ; u;7†1bm] ‰-|;u ‰-v|; bm 7-‹ |o 7-‹ or;u-ঞomvĺ
†u|_;u ‰; _-ˆ; blrѴ;l;m|;7 - u-bm ‰-|;u _-uˆ;vঞm]
v‹v|;l |o _-uˆ;v| u-bm ‰-|;u ‰_b1_ ;m-0Ѵ;v †v |o †v;
u-bm‰-|;u=ou]-u7;mbm]-m7Cu;ruo|;1ঞom-1ঞˆbঞ;vĺm
o†u-ˆ;Ѵo1hb|‹uof;1|‰;†v;bm|;um-Ѵ‰;ѴѴ‰-|;uķ|o
l-bm|-bmѴ-u];;Š|;m|vo=]-u7;mĺ
Biodiversity
-ˆ;Ѵo1hb|‹uof;1|_-v0;;m7;vb]m;7‰b|_-vbŠ-1u;
Ѵ-m7v1-r;7 uoo= ]-u7;m ‰_b1_ ;mv†u;v |_; ruo|;1ঞom
o= 0boŊ7bˆ;uvb|‹ |_uo†]_ |_; You- -m7 =-†m- ‰b|_bm |_;
ruof;1|ĺ
Ѵ-l;
Energy Management
Energy Management Policy
$_;o0f;1ঞˆ;o=|_bvroѴb1‹bv|oblruoˆ;;m;u]‹;L1b;m1‹ķ
orঞlbŒ; ;m;u]‹ 1omv†lrঞomķ u;7†1; or;u-ঞom-Ѵ
1ov|ķ l-ŠblbŒ; u;|†um om 1-rb|-Ѵ bmˆ;v|l;m|ķ u;7†1;
;mˆbuoml;m|-m7]u;;m_o†v;]-v;lbvvbomv-m71omv;uˆ;
m-|†u-Ѵu;vo†u1;vĺ
25
$_; olr-m‹ bv 1omঞm†o†vѴ‹ =o1†v;7 |o lbmblbŒ; |_;
;m;u]‹ 1omv†lrঞom |_uo†]_ blrѴ;l;m|-ঞom o= ˆ-ubo†v
;m;u]‹ 1omv;uˆ-ঞom l;|_o7vĺ †u -rruo-1_ bv Ѵo]b1-Ѵķ
‰_b1_1om|-bmv|_u;;l-bmv|;rvĺ
Ɛĺ,;uo1ov|blrѴ;l;m|-ঞom
ƑĺL1b;m|u;|uoC|v
ƒĺ !;rѴ-1;l;m| ‰b|_ v|-|; o= |_; -u| ;m;u]‹ ;L1b;m|
;t†brl;m|ĺ
$_; u;7†1ঞom o= ;m;u]‹ 1omv†lrঞom ‰b|_o†| bm1†uubm]
;Šr;m7b|†u; bv Œ;uo 1ov| blrѴ;l;m|-ঞomķ ‰_;u; |_;
1olr-m‹ ;lrѴo‹;;v blruoˆ; |_; ;Šbvঞm] rѴ-m| -m7 |_;
ruo1;vv;v bm ou7;u |o ;m_-m1; |_; ;m;u]‹ ;L1b;m1‹
bĺ;ĺ u;v1_;7†Ѵbm] o= or;u-ঞom-Ѵ ঞl; o= 1;m|u-Ѵ rѴ-m|
;t†brl;m|ķ orঞlbŒ-ঞom o= 1ollom -u;- Ő&ő
or;u-ঞomvķ;|1ĺ
lruoˆ;l;m|v ‰_b1_ -u; 7om; -| - 1ov| bm ou7;u |o
;m_-m1;|_;;L1b;m1‹o=|_;rѴ-m|-m7|_;ruo1;vv;v-u;
b7;mঞC;7-v;L1b;m|u;|uoC|bĺ;ĺ;Ѵ;1|uomb10-ѴѴ-v|v=ou1-u
r-uh1ollom-u;-Ѵb]_ঞm]ķCŠ;71-r-1b|oubmv|-ѴѴ-ঞom|o
&lo|ouvķbmv|-ѴѴ-ঞomo=(-ub-0Ѵ;"r;;7 ubˆ;vŐ(" ő
=ou_b]_Œom;1_bѴѴ;7‰-|;ur†lrvķ;|1ĺ
77bঞom-ѴѴ‹‰;u;rѴ-1;7ķ_b]_;m;u]‹1omv†lbm]1_bѴѴ;uvķ
1_bѴѴ;7‰-|;ur†lrv-m71om7;mv;u‰-|;ur†lrv‰b|_|_;
o0f;1ঞˆ;o=u;7†1bm];m;u]‹1omv†lrঞomĺ
$_;-0oˆ;ru-1ঞ1;vu;v†Ѵ|;7bm|_;)$0;bm]-|u†;_b]_
r;u=oul-m1;u;;m†bѴ7bm]ķ‰b|_-oѴ7;uঞC1-ঞomo=
u;;m u-ঞm] v‹v|;l =uol u;;m †bѴ7bm] 1o†m1bѴ o= "ub
-mh- -m7 0;bm] -‰-u7;7 |_; ru;vঞ]bo†v oѴ7
‰-u7†m7;uѴ-u];v1-Ѵ;v;1|ou1oll;u1b-Ѵ0†bѴ7bm]-|"ub
-mh--ঞom-Ѵm;u]‹-‰-u7vƑƏƐƓou]-mbŒ;70‹|_;"ub
-mh-"†v|-bm-0Ѵ;;m;u]‹-†|_oub|‹ĺ
26 INSPIRING
GENERATIONS

Sustainability Report

Achievements Community

$_;olr-m‹‰-v-‰-u7;7ķ|_;;-7;uo=|_;-m7-m7
uor;u|‹ ";1|ou ƑƏƐƓ ņ ƑƏƐƔ -| |_;    ƐƏƏ
‰-u7v;u;lom‹ĺ
$_;olr-m‹‰-v-‰-u7;7ķ|_;-m7şuor;u|‹";1|ou
uomŒ; ‰-u7 -| |_;  "ub -mh- ƔƐv| mm†-Ѵ !;rou|
‰-u7v;u;lom‹ŊƑƏƐƔĺ
$_;1olr-m‹rѴ-1;v_b]_;lr_-vbvom1om|ub0†ঞm]|o|_;
1oll†mbঞ;v‰;or;u-|;ĺmou7;u|o=†ѴCѴѴ|_bvu;t†bu;l;m|
|_;1olr-m‹_-v†m7;u|-h;m-v;ub;vo=bmbঞ-ঞˆ;v-bl;7
-| blruoˆbm] |_; Ѵbˆbm] ;mˆbuoml;m| o= |_; 1oll†mbঞ;v
-uo†m7 b|v ru;lbv;vĺ $_; ]uo†r 7;ˆ;Ѵor;7 -m7 ]u-m|;7
|_;"-l-(b_-u-|;lrѴ;|o|_;†77_bv|7;ˆo|;;vķ‰_b1_
bvѴo1-|;7‰b|_bm|_;-ˆ;Ѵo1hb|‹ĺ

$_;";mbou-m-];u -1bѴb|‹-m-];l;m|o=|_;olr-m‹ );1om7†1|-mm†-ѴѴ‹=o†u;ˆ-1†-ঞom-m7Cu;7ubѴѴv-||_;

‰-v -‰-u7;7‰b|_ķ |_; 7;vb]m-ঞom o= u;;m11u;7b|;7 )$ 0†bѴ7bm] bm ou7;u |o v-=;]†-u7 |_; |;m-m|ķ ˆbvb|ouvķ
uo=;vvbom-Ѵ0‹|_;u;;m†bѴ7bm]o†m1bѴo="ub-mh-ĺ v|-@-m7|_;m;b]_0oubm]0†bѴ7bm]v-m7ruor;uঞ;vĺ

Brands †u;orѴ;
); †m7;uv|-m7 |_-| 1†v|ol;uv -u; v;;hbm] lou; |_-m †u†l-m!;vo†u1;v ;r-u|l;m|bv7‹m-lb1bmu;1u†bঞm]
f†v| - |u-mv-1ঞom ;Šr;ub;m1;ķ |_;‹ -u; Ѵoohbm] =ou |_; -m7 l-bm|-bmbm] - ‰;ѴѴ |-Ѵ;m|;7 ‰ouh =ou1;ĸ ruoˆb7bm] -
ˆ-Ѵb7-ঞomo=u-m7uolbv;v-m70u-m7|_-|u;Y;1||_;bu v-=; -m7 rѴ;-v-m| ‰ouh ;mˆbuoml;m| bv ;vv;mঞ-Ѵ =ou -
o‰m r;uvom-Ѵ ˆ-Ѵ†; v‹v|;lvĺ $_bv bv |_; =†m7-l;m|-Ѵ _;-Ѵ|_‹-m7ruo7†1ঞˆ;‰ouh=ou1;ĺ
u;-vom=ouo†uo@;uo=|‰ov|uom]0u-m7vĺ"|ubm];m|0u-m7
]†b7;Ѵbm;v-m7v|-m7-u7v-u;=oѴѴo‰;7bm-ѴѴ;Š|;um-Ѵ-m7
bm|;um-Ѵ 1oll†mb1-ঞomvķ l-bm|-bmbm] 1omvbv|;m1‹ bm
7;Ѵbˆ;u‹o=0u-m7ruolbv;ĺ

)ouѴ7$u-7;;m|;uŐ)$őbv-mbm|;um-ঞom-ѴѴ‹u;1o]mbŒ;7
u;r†|;70u-m7‰_b1__-v0;;m†v;70‹ƒƑƏ)$0†bѴ7bm]
Ѵo1-|;7bmoˆ;uƖƏ1o†m|ub;v‰ouѴ7‰b7;ĺ)$oѴol0obv
v‹mom‹lo†v‰b|_t†-Ѵb|‹=-1bѴbঞ;v-m7v;uˆb1;vĺ†uo|_;u
brand is ‘Havelock City’ also very unique in Sri Lanka,
ruolbvbm]-1b|‹‰b|_bm-1b|‹‰b|_b|vlbŠ;7†v;bm|;]u-|;7
ruor;u|‹7;ˆ;Ѵorl;m|ĺ

OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015
omঞm†o†v|u-bmbm]ķ7;ˆ;Ѵorl;m|-m71-u;;uruo]u;vvbom
orrou|†mbঞ;v-u;ruoˆb7;7|o-ѴѴ1-|;]oub;vo=;lrѴo‹;;vĺ
v|u†1|†u;7r;u=oul-m1;l-m-];l;m|v‹v|;lbv-7or|;7
‰b|__-Ѵ=‹;-uѴ‹u;ˆb;‰v‰_b1_ruoˆb7;v-mo0f;1ঞˆ;0-v;7
-rru-bv-Ѵv‹v|;l-m7u;‰-u7-m7u;1o]mbঞomruo1;vvĺ
$_; 1olr-m‹ ruoˆb7;v l;7b1-Ѵ -m7 v†u]b1-Ѵ bmv†u-m1;
policy to cover in house medical treatments to employees
-m7|_;bu=-lbѴ‹ĺ
†u|_;uķ;lrѴo‹;;v-u;ruoˆb7;7r;uvom-Ѵ
accident cover in order to claim the accidental permanent
-m7 r-uঞ-Ѵ 7bv-0bѴb|‹ 1oˆ;ubm] ƑƓ _o†uv o= |_; 7-‹ĺ m
-77bঞomķ ;lrѴo‹;;v om 7†|‹ -u; 1oˆ;u;7 0‹ -‰ouhl-m
1olr;mv-ঞomroѴb1‹ĺ
m †r_oѴ7bm] |_; v-=;|‹ o= o†u ;lrѴo‹;;vķ ;@ou|v _-ˆ;
0;;ml-7;|o-uu-m];|_;‰ouhrѴ-1;bm-v-=;l-mm;uĺ
11ou7bm]Ѵ‹ķ v|;rv _-ˆ; 0;;m |-h;m |o blruoˆ; |_;
1Ѵ;-mѴbm;vvo=|_;‰ouhrѴ-1;vĺou;oˆ;uķvb]mrov|v-u;
7bvrѴ-‹;7-|-ѴѴm;1;vv-u‹Ѵo1-ঞomv|o]†b7;|_;;lrѴo‹;;v
-m7ˆbvb|ouv|o‰-u7v7;vbu;77;vঞm-ঞomvĺ
m |;ulv o= v|-@ ‰;Ѵ=-u;ķ |_; h;‹ uoѴ; bv rѴ-‹;7 0‹ |_;
"|-@ );Ѵ=-u; "o1b;|‹ ‰_b1_ ou]-mbŒ;v m†l;uo†v ;ˆ;m|v
|_uo†]_o†| |_; ‹;-uĺ
;‰ v†1_ ;ˆ;m|v -u;ĸ mm†-Ѵ $ubr =oѴѴo‰;7ĺ
for the employees and their families at a star class hotel,
Sports day, Annual Pirith Ceremony and Annual Get
|o];|_;uĺ
-0ouu-1ঞ1;v
=-bu-m7vo†m7]ub;ˆ-m1;_-m7Ѵbm]roѴb1‹-m7ruo1;7†u;
bv - ru; u;t†bvb|; =ou ]oo7 †l-m !;vo†u1; ru-1ঞ1;v
-m7 =ou _;-Ѵ|_‹ ;lrѴo‹;; Ŋ ;lrѴo‹;u u;Ѵ-ঞomvĺ $_bv bv
blrѴ;l;m|;7 |_uo†]_ |_; fobm| 1omv†Ѵ|-ঞˆ; 1ollb‚;;
_-ˆbm];lrѴo‹;;u;ru;v;m|-ঞˆ;vĺ
27
†u]ub;ˆ-m1;ru-1ঞ1;v-u;-bl;7-|-ѴѴo‰bm];lrѴo‹;;v
|o 0ubm] |o |_; -‚;mঞom o= |_; -m-];l;m| -m‹
7bvv-ঞv=-1ঞom ou bmf†vঞ1; ‰_b1_ l-‹ ;Šbv| -| |_; ‰ouh
rѴ-1;ĺ|bv-=oul-Ѵruo1;vvo@;ubm];lrѴo‹;;vo=7b@;u;m|
Ѵ;ˆ;Ѵv|ovoѴˆ;]ub;ˆ-m1;bvv†;v-m7-b7bm]|ol-bm|-bm-
=-bu-m71ou7b-Ѵ‰ouhbm];mˆbuoml;m|ĺ
om7bv1ublbm-ঞomķ1_bѴ7Ѵ-0ou-m71olr†Ѵvou‹
labor
); 1omvb7;u †r_oѴ7bm] ]oo7 v|-m7-u7v o= _†l-m ub]_|v
bm o†u ‰ouh rѴ-1; -m7 bm -ѴѴ o†u 7;-Ѵbm]v -m7 _;m1;
7bv1ublbm-ঞomķ 1_bѴ7 Ѵ-0ou -m7 1olr†Ѵvou‹ Ѵ-0ou -u;
-ˆob7;7ĺ
);0;Ѵb;ˆ;bm|_;=-bu|u;-|l;m|o=;lrѴo‹;;vu;]-u7Ѵ;vv
o=|_;bu-];ķu-1;ķ];m7;uķrovbঞomou-m‹o|_;u7bˆ;uvb|‹
=-1|ouĺ11ou7bm]Ѵ‹ķo†ul-m-];l;m|-m7;lrѴo‹;;v-u;
;Šr;1|;7|o-7_;u;|o-v|ub1|1o7;o=;|_b1vbmu;Ѵ-ঞom|o
=-ˆo†ubvl-m7-ѴѴ=oulvo=7bv1ublbm-ঞomĺ
Our stance on labor is to employ individuals over 18 years
o=-];-||_;buo‰m=u;;‰bѴѴĺ$_†vmo=ou1;7ou1olr†Ѵvou‹
Ѵ-0ou bv ;m|;u|-bm;7 -| o†u ‰ouh rѴ-1;ĺ ѴѴ u;1u†b|l;m|v
are handled centrally at the Human Resources Division
;mv†ubm]0;v|ru-1ঞ1;vĺ
!;vb]m-ঞomķ$;ulbm-ঞom-m7$u-mv=;uv
†u roѴb1‹ -m7 ruo1;7†u; om 1;vv-ঞom o= v;uˆb1;v bv
1Ѵ;-uѴ‹Ѵ-b7o†|bmo†u!-m†-ѴĺlrѴo‹;;vl-‹u;vb]m
=uol |_; 1olr-m‹ v†0f;1| |o |_; |;ulv -m7 1om7bঞomv
v;| bm |_;bu -rrobm|l;m| Ѵ;‚;uv ‰_bѴ; u;ঞu;l;m| -]; o=
;lrѴo‹;;v‰o†Ѵ70;-||_;-];o=ƔƔĺ
The company may terminate the services of an employee
7†;|ou;-vomvvr;1bC;7bm|_;l-m†-Ѵķ0†|v_o†Ѵ7v†1_
- vb|†-ঞom o11†u - =-bu -m7 ;t†b|-0Ѵ; ruo1;7†u; ‰bѴѴ 0;
olrѴb-m1;‰b|_-‰-m7-mঞ1ouu†rঞom
); l-bm|-bm l-Šbl†l -7_;u;m1; |o -ѴѴ Ѵ-‰v -rrѴb1-0Ѵ;
‰b|_bm|_;f†ubv7b1ঞomo="ub-mh-ĺ†uv;mboul-m-];l;m|
-Ѵom] ‰b|_ |_; †l-m !;vo†u1;v bˆbvbom -m7 ;]-Ѵ
;r-u|l;m|lomb|ouv|ub1|ˆb]bѴ-m1;bm|_bvu;]-u7ĺ
28 INSPIRING
GENERATIONS

Risk Management Report

m|;urubv;!bvh-m-];l;m|ruo1;vv uo†r m|;um-Ѵ †7b| 1oou7bm-|;v |_; b7;mঞC1-ঞom -m7

ˆ;uˆb;‰
!bvh-ubv;vbm-ѴѴo†u0†vbm;vv-1ঞˆbঞ;vĺ!bvhķbmo†u1om|;Š|ķ
bv |_; 1olrom;m| ‰_b1_ _-v |_; ro|;mঞ-Ѵ |o m;]-ঞˆ;Ѵ‹
-@;1ঞm] - 0†vbm;vv ou -m ou]-mbŒ-ঞomĺ |vĽ vb]mbC1-m1;
bv l;-v†u;7 bm |;ulv o= |_; ruo0-0bѴb|‹ o= o11†uu;m1;ĺ
$_;u;=ou; b| _-v 0;1ol; l-m7-|ou‹ bm ;Šbv|;m1; o= -m
bm|;]u-|;7 ubvh l-m-];l;m| =u-l; ‰ouh ‰_b1_ ruoˆb7;v
|_;]†b7;Ѵbm;=oul-m-]bm]ubvhvĺ
!bvh-m-];l;m|
u-l;‰ouh
!bvh1-mmo|0;ˆb;‰;7bmbvoѴ-ঞom-vb|bvbm|;u1omm;1|;7
-m7 -Ѵvo om; -vr;1| lb]_| ]bˆ; ubv; |o ˆ-ubo†v o|_;u
=-1|ouvĺ$_;ˆ;uv;-v!;-Ѵ|‹uo†r_-v-v|u†1|†u;7ubvh
l-m-];l;m|ruo1;vv|o-77u;vv7b@;u;m|ubvh1-|;]oub;vĹ
"|u-|;]b1ķr;u-ঞom-ѴķolrѴb-m1;-m7
bm-m1b-Ѵĺ
$_; o-u7 o= bu;1|ouv u;1o]mbŒ;v |_-| |_; ruor;u
l-m-];l;m| o= ubvh bv - 1ou; Ѵ;-7;uv_br =†m1ঞom |_-|
l†v|0;ru-1ঞ1;7|_uo†]_o†||_;u]-mbŒ-ঞomĺ
7o1†l;m|-ঞomo=1om|uoѴubvh-u;-v|_uo†]_o†||_;uo†rķ
;m_-m1bm] |_; ubvh l-m-];l;m| v‹v|;l -m7 lomb|oubm]
b|v ;@;1ঞˆ;m;vv -| u;]†Ѵ-u bm|;uˆ-Ѵvĺ m -77bঞomķ 7†ubm]
|_;‹;-uŊ;m7ķ|_;Š|;um-Ѵ†7b|oubvv†;v--m-];l;m|
;‚;u -m7 bm=oulv |_; uo†r -m-];l;m| ollb‚;;
-m7 |_; o-u7 o= bu;1|ouv o= |_; o†|1ol; o= |_;v;
;ˆ-Ѵ†-ঞomvĺ$_;v;o†|1ol;-u;|-h;mbm|o-11o†m|bm|_;
1omঞm†bm];m_-m1;l;m|o=o†uubvhl-m-];l;m|v‹v|;lĺ
m7-Ѵvoķ|_;†7b|ollb‚;;1omv|-m|Ѵ‹;ˆ-Ѵ†-|;vubvhķ
b|vblr-1|-m7l;-v†u;v|-h;m|ol-m-];ubvhĺ
$_; rubm1br-Ѵ -bl o= |_; uo†rĽv ubvh l-m-];l;m|
]oˆ;um-m1; v|u†1|†u; -m7 v‹v|;l o= m|;um-Ѵ om|uoѴ bv
|o l-m-]; 0†vbm;vv -m7 or;u-ঞom-Ѵ ubvhvķ ‰b|_ - ˆb;‰
|o;m_-m1bm]|_;ˆ-Ѵ†;o=v_-u;_oѴ7;uvĽbmˆ;v|l;m|v-m7
v-=;]†-u7bm]-vv;|vĺ
We have put in place a number of key policies, processes
and independent controls to provide assurance to the
o-u7om|_;bm|;]ub|‹o=o†uu;rouঞm]-m7;@;1ঞˆ;m;vv
o=o†uv‹v|;lvo=m|;um-Ѵom|uoѴ-m7ubvhl-m-];l;m|ĺ

$_;=oѴѴo‰bm]]ub7v†ll-ubŒ;v|_;l-bmubvh-u;-v=o1†v;70‹|_;uo†rķb|vu-mhbm]-m7lbঞ]-ঞm]v|u-|;]b;vĺ

!bvh$‹r; !-mh Factor "|u-|;]b;vņ1ঞomѴ-m

"|u-|;]b1!bvh o‰ !bvhvo=mo|-1_b;ˆbm]v|u-|;]b1]o-Ѵv olr-m‹or;u-|;v‰b|_-1Ѵ;-u†vbm;vvѴ-mĺ

-m7o0f;1ঞˆ;vo=|_;1olr-m‹ķ-m7
ˆ-ub-ঞomv;|1ĺ
u-†7!bvh o‰ Risks due to inadequate internal
1om|uoѴvķruo1;vv;v-m7v‹v|;lvĺѴvo
7†;|o;lrѴo‹;;-0†vbm];m|u†v|;7
ro‰;u=ourubˆ-|;]-bmvѴ;-7bm]|o
lbv-rruorub-ঞomo=-vv;|vĺ
;]-Ѵ-m7 ;7b†l !bvhv7†;|o1_-m];v|o|-Š-m7o|_;u
!;]†Ѵ-|ou‹ Ѵ;]-Ѵu;]†Ѵ-ঞomvbm1Ѵ†7bm]1_-m];vbm
u-l;‰ouh oˆ;uml;m|roѴb1b;vĺ
olr-m‹-Ѵvoor;u-|;v‰b|_bm-m-rruoˆ;7mm†-Ѵ
†7];|şˆ-ub-m1;v-u;u;ˆb;‰;7r;ubo7b1-ѴѴ‹0‹|_;
o-u7o= bu;1|ouvĺ
$_;o-u7_-v-rruoˆ;7-v|u†1|†u;7bm|;um-Ѵ
1om|uoѴ=u-l;‰ouh‰b|_7b@;u;m|Ѵ;ˆ;Ѵvo=7;Ѵ;]-|;7
-†|_oubŒ-ঞomĺ
The company applies an independent internal audit
l;1_-mbvlĺ
olru;_;mvbˆ;roѴb1‹l-m†-Ѵ1oˆ;ubm]-ѴѴl-fou
7;r-u|l;m|vķor;u-ঞomv-m7ruo1;vv;v-u;bmrѴ-1;ĺ
omv|-m|7b-Ѵo]†;-m7Ѵo00‹bm]‰b|_!;]†Ѵ-|ou‹
-†|_oubঞ;vĺ
om|_Ѵ‹v1-mmbm]o=oˆ;uml;m|0bѴѴvĺ
$_;1olr-m‹_-vu;|-bm;7|_;v;uˆb1;vo=$-Š
omv†Ѵ|-m|vķ;]-Ѵomv†Ѵ|-m|vş-ruo=;vvbom-Ѵ
olr-m‹";1u;|-u‹=ou|_;u;vr;1ঞˆ;u;]†Ѵ-|ou‹
u;t†bu;l;m|vĺ
 29
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

!bvh$‹r; !-mh Factor "|u-|;]b;vņ1ঞomѴ-m

olr;ঞঞom ;7b†l !bvhv-ubvbm]=uolm;‰oll;u1b-Ѵ-m7 omb|oubm]o=;Šbvঞm]-m7m;‰v†rrѴ‹o=oll;u1b-Ѵ

!;vb7;mঞ-Ѵ ;ˆ;Ѵorl;m|v -m7!;vb7;mঞ-Ѵ ;ˆ;Ѵorl;m|vĺ
†-u|;uѴ‹1olr;ঞ|oum-Ѵ‹vbvu;rou|vĺ
omv|u†1ঞom o‰ !bvhv=uolbm1u;-v;bm1omv|u†1ঞom
bŠ;7rub1;"!"1om|u-1|v-u;;m|;u;7bm|o‰b|_
ov|v material and other costs 1om|u-1|ouvĺ
u-m7ş o‰ !bvhvu;Ѵ-ঞm]|oruo7†1|t†-Ѵb|‹ķঞl;Ѵ‹ -bm|-bmbm]_b]_ruo7†1|-m7v;uˆb1;t†-Ѵb|‹v|-m7-u7v
!;r†|-ঞom delivery and service standards -m7t†-Ѵb|‹-vv†u-m1;ņ1om|uoѴv‹v|;lvbmruof;1|-m7
=-1bѴbঞ;vl-m-];l;m|ĺ
!;]†Ѵ-uu;ˆb;‰vo=1†v|ol;u1oll;m|v-m7=;;70-1hĺ
Fire o‰ !bvhvo=-Cu;-||_;)ouѴ7$u-7;;m|;u ;ubo7b1u;ˆb;‰-m7l-bm|;m-m1;o=0†bѴ7bm]Cu;
oѴol0o-m7-ˆ;Ѵo1hb|‹!;vb7;mঞ-Ѵ v‹v|;lvķ|u-bmbm]o=v|-@omCu;ruo|;1ঞomruo1;7†u;vķ
o0|-bmbm]v;uˆb1;vo=-uo=;vvbom-ѴCu;1omv†Ѵ|-m|-m7
_-ˆbm]-7;t†-|;bmv†u-m1;1oˆ;uĺ
†bѴ7bm]Ŋ o‰ !bvho11†uubm]=uol|_u;-|v|or;uvom-Ѵķ $_;1olr-m‹1olrѴb;v‰b|_-ѴѴm7†v|ub-Ѵ"-=;|‹
;-Ѵ|_-m7 v|-@ķ|;m-m|v-m7];m;u-Ѵr†0Ѵb1-| !;t†bu;l;m|vĺ
"-=;|‹ World Trade Center Colombo and u;ˆ;mঞˆ;l-bm|;m-m1;ruo]u-lvķro|-0Ѵ;‰-|;ut†-Ѵb|‹
-ˆ;Ѵo1hb|‹!;vb7;mঞ-Ѵĺ |;vঞm]-m7-but†-Ѵb|‹|;vঞm];|1ĺ-u;u;]†Ѵ-uѴ‹1-uub;7o†|ĺ
"r;1b-ѴbŒ;7;t†brl;m|-m7Ѵb=;v†rrou|v‹v|;lv
l-bm|-bm;70‹t†-ѴbC;7ruo=;vvbom-Ѵvĺ
$;1_moѴo]‹ o‰ !bvhvo11†uubm]=uol=-bѴ†u;|o-0vou0 $_;1olr-m‹_-vb|vo‰m;m]bm;;ubm]l-bm|;m-m1;
!bvh $;1_moѴo]b1-Ѵ-7ˆ-m1;l;m|vĺ |;-lv-0u;-v|‰b|_Ѵ-|;v||;1_moѴo]‹ĺ
omঞm†o†v†r7-ঞm]şblrѴ;l;m|-ঞomo=m;u]‹
L1b;m1‹uof;1|vĺ

ou;b]m b]_ !bvhv=uol=ou;b]m1†uu;m1‹0ouuo‰bm] omv|u†1ঞom1om|u-1|v-u;;m|;u;7bm|obm"ub-mh-m
Currency for the Havelock City Project !†r;;vŐ!"őĺ
"ol;-r-u|l;m|v-Ѵ;v-u;1om|u-1|;7bm&" ĺ
vঞl-|;7†uu;m1‹Y†1|†-ঞombv=-1|ou;7bm|o1ov|o=
7;ˆ;Ѵorl;m|ĺ
Š1_-m];u-|;loˆ;l;m|v-u;1omv|-m|Ѵ‹lomb|ou;7ĺ
m|;u;v|!-|; ;7b†l !bvhvu;Ѵ-ঞm]|om|;u;v|m1ol;-m7 omb|oubm]-m7l-m-];l;m|o=1-v_Yo‰v7-bѴ‹ĺ
ov|o=ouuo‰bm]v ;]oঞ-ঞm]=-ˆou-0Ѵ;u-|;v-m7|;ulvom0ouuo‰bm]v-m7
7;rovb|vĺ
ouuo‰bm]-|CŠ;7u-|;vĺ
u;7b| o‰ Non recovery of receivables !;]†Ѵ-u|u-7;7;0|ou0-Ѵ-m1;u;ˆb;‰-m7=oѴѴo‰Ŋ†rĺ
Recovery om|u-1|†-Ѵo0Ѵb]-ঞom‰_b1_-ѴѴo‰v|_;1olr-m‹|o
Adequate refundable deposits are collected from lessees
o=Ѵ;-v;7ruor;u|‹ĺ
u;r†7b-|;-†mb|‰_bѴv|u;|-bmbm]ƐƏѷo=r†u1_-v;rub1;ĺ
om|u-1|†-Ѵo0Ѵb]-ঞom|ou;Ѵ;-v;-vv;|vomѴ‹†rom=†ѴѴ
r-‹l;m|bvl-7;=ouu;Ѵ;ˆ-m|uor;u|‹ĺ
30 INSPIRING
GENERATIONS
Corporate Governance Report
ourou-|;oˆ;um-m1;
Corporate Governance at Overseas Realty (Ceylon)
 ;m1olr-vv;v ruoloঞm] 1ourou-|; blr-uঞ-Ѵb|‹ķ
|u-mvr-u;m1‹ -m7 -11o†m|-0bѴb|‹ bm 7bu;1ঞm] -m7
1om|uoѴѴbm] |_; 1olr-m‹ĺ ѴѴ v|u†1|†u;vķ rubm1brѴ;v -m7
roѴb1b;v -u; =o1†v;7 om ;mv†ubm] |_-| |_; 1olr-m‹ bv
]oˆ;um;7bm-l-mm;u|_-|v-=;]†-u7v|_;0;v|bm|;u;v|o=
all stakeholders and this report aims to provide the details
o=_o‰|_bvbv7om;bmru-1ঞ1;ĺ
olr-m‹Ľvub;=-m7ollb|l;m|$o‰-u7v
ourou-|;oˆ;um-m1;
); CulѴ‹ 0;Ѵb;ˆ; |_-| ]oo7 ourou-|; oˆ;um-m1; bv
mo| omѴ‹ |_; =†m7-l;m|-Ѵ bm ;mv†ubm] |_-| |_; 1olr-m‹
bv‰;ѴѴl-m-];7bm|_;bm|;u;v|o=-ѴѴb|vv|-h;_oѴ7;uvķ0†|
bv -Ѵvo ;vv;mঞ-Ѵ |o -‚-bm Ѵom] |;ul v†v|-bm-0Ѵ; ]uo‰|_ĺ
ourou-|;oˆ;um-m1;bvo=†|lov|blrou|-m1;bm7ubˆbm]
|_;1olr-m‹|o‰-u7vb|v_b]_v|-m7-u7vo=l-m-]bm]|_;
1olr-m‹ bm -m ;|_b1-Ѵķ ;L1b;m| -m7 ;@;1ঞˆ; l-mm;u
‰_bѴv|=ov|;ubm]-m;m|u;ru;m;†ub-Ѵ1†Ѵ|†u;ĺ
olrѴb-m1;‰b|_ourou-|;oˆ;um-m1;o7;v
ˆ;uv;-v !;-Ѵ|‹ Ő;‹Ѵomő Ľv ru-1ঞ1;v -u; 1omvbv|;m|
‰b|_|_;u;t†bu;l;m|v]bˆ;mbm|_;1o7;o=0;v|ru-1ঞ1;
on Corporate Governance issued jointly by CA Sri Lanka
-m7 |_; ";1†ubঞ;v -m7 Š1_-m]; ollbvvbom o= "ub
-mh-Ő"ő-v‰;ѴѴ-v!†Ѵ;†l0;uƕĺƐƏo=bvঞm]!†Ѵ;v
issued on Corporate Governance by the Colombo Stock
Š1_-m];Ő"őĺ$_;rubm1brѴ;vv;|o†|bm|_;v;1o7;v_-ˆ;
0;;m-7or|;70‹†v|ov_-r;o†u1ourou-|;]oˆ;um-m1;
v|-m1;ĺ
"|-|;l;m|o=olrѴb-m1;
ˆ;uv;-v!;-Ѵ|‹Ő;‹Ѵomőbv=†ѴѴ‹1olrѴb-m|‰b|_|_;
1o7; o= ;v| u-1ঞ1; om 1ourou-|; ]oˆ;um-m1; bvv†;7
fobm|Ѵ‹ 0‹  "ub -mh- -m7 "ĺ m -77bঞomķ ‰; _-ˆ;
-1_b;ˆ;7 |_; v|-|†v o= 0;bm] ļ=†ѴѴ‹ 1olrѴb-m|Ľ ‰b|_ |_;
-rrѴb1-0Ѵ;v;1ঞomo=|_;Ѵbvঞm]u†Ѵ;vķbvv†;7om1ourou-|;
]oˆ;um-m1;0‹|_;"ĺ
†uv|-|†vo=1olrѴb-m1;‰b|_;-1_v;1ঞomo=|_;1o7;
o=0;v|ru-1ঞ1;vom1ourou-|;]oˆ;um-m1;bvv†;7fobm|Ѵ‹
0‹"ub-mh--m7"-rr;-uvomr-];vƒƕ|oƓѵ);
_-ˆ;-Ѵvobm1Ѵ†7;7-|-0Ѵ;‰_b1_v†ll-ubŒ;v|_;v|-|†vo=
1olrѴb-m1;‰b|_!†Ѵ;oƕĺƐƏ-m7ƕĺѵo=|_;Ѵbvঞm]u†Ѵ;v
o=|_;"ķomr-];vƒƑ|oƒѵĺ
o-u7o= bu;1|ouv
$_;olr-m‹Ľv1ollb|l;m||o†r_oѴ7_b]_;v|v|-m7-u7v
o= 1ourou-|; ]oˆ;um-m1; bv 7ubˆ;m 0‹ |_; o-u7 o=
bu;1|ouv‰_b1_bvѴ;70‹|_;_-bul-mķ-vv†l;voˆ;u-ѴѴ
u;vromvb0bѴb|‹ =ou |_; ]oˆ;um-m1; o= |_; 1olr-m‹ĺ -1_
bu;1|ou b7;mঞC;v _blv;Ѵ=ņ_;uv;Ѵ= ‰b|_ - 7†|‹ |o -1| bm
]oo7=-b|_-m7bm|_;0;v|bm|;u;v|o=|_;olr-m‹ĺ$_;
o-u7 bv u;vromvb0Ѵ; =ou |_; v_-u;_oѴ7;uv =ou 1u;-ঞm]
-m7 7;Ѵbˆ;ubm] v†v|-bm-0Ѵ; v_-u;_oѴ7;u ˆ-Ѵ†; |_uo†]_
l-m-];l;m|o=0†vbm;vv-1ঞˆbঞ;vĺ
!oѴ;o=o-u7o= bu;1|ouv
$_; =†m7-l;m|-Ѵ uoѴ; o= |_; o-u7 bv |o ruoˆb7;
;m|u;ru;m;†ub-Ѵ -m7 1o_;u;m| Ѵ;-7;uv_br ‰b|_bm -
=u-l;‰ouh o= ru†7;m| -m7 ;L1b;m| 1om|uoѴvķ ‰_b1_
;m-0Ѵ;v ubvhv |o 0; -vv;vv;7 -m7 l-m-];7ĺ $_; o-u7
_-v |_; Cm-Ѵ 7;1bvbom l-hbm] -†|_oub|‹ -m7 7bu;1|v |_;
l-m-];l;m| |;-l |o †r_oѴ7 _b]_;v| Ѵ;ˆ;Ѵ o= bm|;]ub|‹ķ
=†m1ঞom bm 1olrѴb-m1; ‰b|_bm |_; -rrѴb1-0Ѵ; u†Ѵ;v -m7
u;]†Ѵ-ঞomv-m77;Ѵ;]-|;|_;m;1;vv-u‹-†|_oub|‹|o=†ѴCѴѴ
|_;bu fo0 u;vromvb0bѴbঞ;vĺ -1_ bu;1|ou _-v †mu;v|ub1|;7
-11;vv|obm=oul-ঞom-m7v;uˆb1;vo=";mbou-m-];l;m|
-m7 |_; olr-m‹ ";1u;|-u‹ĺ ubou moঞ1;v -u; ]bˆ;m
|o |_; bu;1|ouv u;]-u7bm] 0o-u7 l;;ঞm]vĺ $_; o-u7
r-r;uv-u;1bu1†Ѵ-|;7‰;ѴѴbm-7ˆ-m1;vo|_-|-ѴѴ7bu;1|ouv
1o†Ѵ7 -1ঞˆ;Ѵ‹ 7;Ѵb0;u-|; -m7 1om|ub0†|; |o |_; o-u7
ruo1;;7bm]vĺ
o-u7olrovbঞom
$_; o-u7 rou|u-‹v - 0-Ѵ-m1; 0;|‰;;m Š;1†ঞˆ; -m7
omŊ;Š;1†ঞˆ; bu;1|ouv ;-1_ o= ‰_ol 0ubm] - v|uom]
-m7 bmŊ7;r|_ lbŠ o= hmo‰Ѵ;7];ķ 0†vbm;vv vhbѴѴv -m7
;Šr;ub;m1; |o |_; o-u7Ľv 7;Ѵb0;u-ঞomĺ ‹ |_; ;m7 o=
|_;‹;-u|_;u;‰;u;;Ѵ;ˆ;m7bu;1|ouvbm|_;o-u7ĺ†|o=
 31
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

|_;l|;m7bu;1|ouv-u;momŊ;Š;1†ঞˆ;-m7Cˆ;o=|_;l-u; !;Ŋ;Ѵ;1ঞom
1omvb7;u;7-vbm7;r;m7;m|ĺ
11ou7bm]|o|_;ruoˆbvbomvo=|_;uঞ1Ѵ;vo=vvo1b-ঞom
Ѵ;-v;u;=;ur-];vѶ|oƐƐ=ouruoCѴ;o=|_;l;l0;uvo= o= |_; olr-m‹ķ $_; o-u7 rovv;vv;v |_; ro‰;u |o
|_;o-u7o= bu;1|ouvĺ -rrobm|-m‹r;uvomķ-|-m‹ঞl;ķ-v- bu;1|ouķ;b|_;u|oCѴѴ
-1-v†-Ѵˆ-1-m1‹ou-v-m-77bঞom-Ѵl;l0;uo=|_;o-u7ĺ
m‹7bu;1|ouvo-rrobm|;7ķv_-ѴѴ_oѴ7oL1;†mঞѴ|_;m;Š|
‚;m7-m1;o=|_;o-u7;;ঞm] mm†-Ѵ;m;u-Ѵ;;ঞm]‰_;u;_;ņv_;bv|_;m;Ѵb]b0Ѵ;=ou
$_; m†l0;u o= l;;ঞm]v o= |_; o-u7 -m7 bm7bˆb7†-Ѵ u;Ŋ;Ѵ;1ঞomĺ
-‚;m7-m1;0‹l;l0;uv-u;-v=oѴѴo‰vĹ
$_;u;Ŋ;Ѵ;1ঞomo=- bu;1|ouv-=;]†-u7v|_;ub]_|o=|_;
Name bu;1|ouv_br ;;ঞm]v v_-u;_oѴ7;uv 0‹ ruoˆb7bm] - u;]†Ѵ-u u;-vv;vvl;m| o= |_;
"|-|†v ‚;m7;7ņ 1olrovbঞom o= |_; 0o-u7ĺ $_; m-l;v o= |_; bu;1|ouv
;;ঞm]v v†0lb‚;7=ouu;Ŋ;Ѵ;1ঞom-u;ruoˆb7;7|o|_;v_-u;_oѴ7;uv
Ѵb]b0Ѵ;|o -Ѵom]‰b|_moঞ1;o=|_;mm†-Ѵ;m;u-Ѵ;;ঞm]ķ;m-0Ѵbm]
‚;m7 |_;l|ol-h;bm=oul;77;1bvbomvomv†1_-rrobm|l;m|vĺ

u"$-o omŊŠ;1†ঞˆ; ƏņƓ

uvbѴ7u;7$-om] omŊŠ;1†ঞˆ; ƓņƓ bu;1|ouvĽ!;l†m;u-ঞom
u+-ro_bm omŊŠ;1†ঞˆ; ƓņƓ Ѵ;-v; u;=;u |o r-];v ƓƑ -m7 Ɠƒ †m7;u ";1ঞom  =ou
umbm]m] omŊŠ;1†ঞˆ; ƓņƓ bm=oul-ঞom u;Ѵ-ঞom |o |_; u;l†m;u-ঞom ruo1;7†u; -m7
r-];ƐƐƏ=ou|_;7;|-bѴvom bu;1|ouvĽu;l†m;u-ঞomĺ
u,-vvbl Independent ƓņƓ
omŊŠ;1†ঞˆ;
u ;"-‹-u-|m; Independent ƓņƓ
omŊŠ;1†ঞˆ;
u!7;-m;uoѴѴ; omŊŠ;1†ঞˆ; ƓņƓ
uv!-m-‹-hh-u- Independent ƓņƓ
omŊŠ;1†ঞˆ;
u$-m7-u-m-‹-h; Independent ƓņƓ
omŊŠ;1†ঞˆ;
Dr Ranee Jayamaha Independent ƓņƓ
omŊŠ;1†ঞˆ;
uu-ˆbu"-l-u-vbm]_; Š;1†ঞˆ; ƓņƓ
Director
32 INSPIRING
GENERATIONS

Corporate Governance Report

$_;7bv1Ѵov†u;v0;Ѵo‰7;lomv|u-|;|_;olr-m‹Ľv-7_;u;m1;|oourou-|;oˆ;um-m1;!†Ѵ;v-vv;|o†|†m7;u";1ঞom
ƕĺƐƏ-m7|_;7bv1Ѵov†u;bm|_;mm†-Ѵ!;rou|†m7;u";1ঞomƕĺѵo=|_;bvঞm]!†Ѵ;vo=|_;oѴol0o"|o1hŠ1_-m];ĺ

!†Ѵ; ourou-|;oˆ;um-m1;!†Ѵ; olrѴb-m1; ;|-bѴv

No. "|-|†v
ƕĺƐƏĺƐ omŊŠ;1†ঞˆ; bu;1|ouv
(a) $_;o-u7o= bu;1|ouvo=-Ѵbv|;7;mঞ|‹v_-ѴѴbm1Ѵ†7;-|Ѵ;-v|ĸ olrѴb;7‰b|_ As at the conclusion of the
bll;7b-|;Ѵ‹ru;1;7bm]
-ĺ $‰oomŊŠ;1†ঞˆ; bu;1|ouvĸou all ten (10) Directors on the
o-u7=†m1ঞom;7bm|_;momŊ
0ĺ m;|_bu7o=|_;|o|-Ѵm†l0;uo= bu;1|ouvķ‰_b1_;ˆ;ubv ;Š;1†ঞˆ;1-r-1b|‹ĺ
_b]_;uv_o†Ѵ70;omŊ;Š;1†ঞˆ; bu;1|ouvĺ

(b) The total number of Directors is to be calculated based on olrѴb;7‰b|_ The total number of directors
|_;m†l0;u-v-||_;1om1Ѵ†vbomo=|_;bll;7b-|;Ѵ‹ru;1;7bm] ‰-v;Ѵ;ˆ;mŐƐƐő-v-||_;
mm†-Ѵ;m;u-Ѵ;;ঞm]ĺ conclusion of the immediately
ru;1;7bm]ĺ
(c) m‹1_-m];o11†uubm]|o|_bvu-ঞov_-ѴѴ0;u;1ঞC;7‰b|_bm Not Applicable
mbm;|‹ŐƖƏő7-‹v=uol|_;7-|;o=1_-m];ĺ
ƕĺƐƏĺƑ m7;r;m7;m| bu;1|ouv
(a) )_;u;|_;1omvঞ|†ঞomo=|_;o-u7o= bu;1|ouvbm1Ѵ†7;v olrѴb;7‰b|_ As at the conclusion of the
omѴ‹|‰oomŊŠ;1†ঞˆ; bu;1|ouvķ0o|_v†1_omŊŠ;1†ঞˆ; bll;7b-|;Ѵ‹ru;1;7bm]ķ
bu;1|ouvv_-ѴѴ0;bm7;r;m7;m|ĺm-ѴѴo|_;ubmv|-m1;v|‰oou Cˆ;
om;|_bu7o=momŊ;Š;1†ঞˆ; bu;1|ouvķ‰_b1_;ˆ;ubv_b]_;uķ (5) out of ten (10) Directors
v_-ѴѴ0;ļbm7;r;m7;m|Ľĺ ‰;u;bm7;r;m7;m|ĺ

As at 31st December 2015

Five
(5) out of eleven (11) directors
‰;u;bm7;r;m7;m|ĺ
(b) -1_omŊ;Š;1†ঞˆ; bu;1|ouv_o†Ѵ7v†0lb|-vb]m;7-m7 olrѴb;7‰b|_ ѴѴomŊŠ;1†ঞˆ; bu;1|ouv
7-|;77;1Ѵ-u-ঞom-mm†-ѴѴ‹o=_bvņ_;ubm7;r;m7;m1;ņmomŊ _-ˆ;v†0lb‚;7|_;
bm7;r;m7;m1;bm|_;ru;v1ub0;7=oul-|ĺ 7;1Ѵ-u-ঞombm|_;ru;v1ub0;7
=oul-|ĺ
ƕĺƐƏĺƒ bv1Ѵov†u;!;Ѵ-ঞm]|o bu;1|ouv
(a) $_;o-u7v_-ѴѴ-mm†-ѴѴ‹l-h;-7;|;ulbm-ঞom-v|o|_; olrѴb;7‰b|_ Ѵ;-v;u;=;umo|;Ŗomr-];ƒѵ
bm7;r;m7;m1;ouo|_;u‰bv;o=|_;omŊ;Š;1†ঞˆ; bu;1|ouv o=|_bv!;rou|ĺ
and names of Independent Directors should be disclosed in
|_;mm†-Ѵ!;rou|ĺ
 33
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

!†Ѵ; ourou-|;oˆ;um-m1;!†Ѵ; olrѴb-m1; ;|-bѴv

No. "|-|†v
(b) $_;0-vbv=ou|_;o-u7|o7;|;ulbm;- bu;1|oubv olrѴb;7‰b|_ Ѵ;-v;u;=;umo|;Ŗomr-];ƒѵ
m7;r;m7;m|ķb=1ub|;ub-vr;1bC;7=oubm7;r;m7;m1;bvmo|l;|ĺ o=|_bv!;rou|ĺ

(c) A brief resume of each Director should be included in the olrѴb;7‰b|_ Ѵ;-v;u;=;uľuoCѴ;vo=
Annual Report and should include the Director’s areas of bu;1|ouvĿomr-];vѶ|oƐƐo=
;Šr;uঞv;ĺ this Report

(d) ou|_‰b|_ruoˆb7;-0ub;=u;v†l;o=m;‰ bu;1|ouv-rrobm|;7 Not Applicable

|o|_;o-u7‰b|_7;|-bѴvvr;1bC;7bmƕĺƐƏĺƒŐ-őķŐ0ő-m7Ő1ő|o
|_;u†Ѵ;vo=|_;oѴol0o"|o1hŠ1_-m];ĺ

ƕĺƐƏĺƔ !;l†m;u-ঞomollb‚;;
Ѵbv|;7;mঞ|‹v_-ѴѴ_-ˆ;-!;l†m;u-ঞomollb‚;;ĺ olrѴb;7‰b|_ Ѵ;-v;u;=;ur-];Ɠƕo=|_bv
!;rou|ĺ

(a) $_;!;l†m;u-ঞomollb‚;;"_-ѴѴ1olrubv;o=ĸ olrѴb;7‰b|_ $_;ollb‚;;1omvbv|vo=

bˆ;;l0;uvķ-ѴѴo=‰_ol
-ĺ lbmbl†lo=|‰om7;r;m7;m|omŊ;Š;1†ঞˆ; bu;1|ouv -u;omŊ;Š;1†ঞˆ; bu;1|ouvķ
Őbmbmv|-m1;v‰_;u;-m;mঞ|‹_-vomѴ‹|‰o7bu;1|ouvőouĽ o†|o=‰_ol-l-foub|‹-u;
bm7;r;m7;m|ĺ
0ĺ omŊŠ;1†ঞˆ;7bu;1|ouvķ-l-foub|‹o=‰_olv_-ѴѴ0;
bm7;r;m7;m|ĺ
m;omŊŠ;1†ঞˆ; bu;1|ouv_-ѴѴ0;-rrobm|;7-v_-bul-m olrѴb;7‰b|_ The Chairman of the
o=|_;ollb‚;;0‹|_;o-u7o= bu;1|ouvĺ !;l†m;u-ঞomollb‚;;bv-
omŊŠ;1†ঞˆ; bu;1|ouĺ
(b) $_;!;l†m;u-ঞomollb‚;;v_-ѴѴu;1oll;m7|_; olrѴb;7‰b|_ Ѵ;-v;u;=;u!;l†m;u-ঞom
u;l†m;u-ঞomo=|_;uo†r_b;=Š;1†ঞˆ;L1;u-m7 ollb‚;;u;rou|omr-];
Š;1†ঞˆ; bu;1|ouvĺ Ɠƕo=|_bv!;rou|‰_b1_v;|
o†||_;=†m1ঞomvo=|_;
ollb‚;;ĺ
(c ) $_;mm†-Ѵ!;rou|v_o†Ѵ7v;|o†|Ĺ

-ĺ -l;vo= bu;1|ouv1olrubvbm]|_;!;l†m;u-ঞom olrѴb;7‰b|_

ollb‚;; Ѵ;-v;u;=;u!;l†m;u-ঞom
ollb‚;;u;rou|omr-];Ɠƕ
0ĺ "|-|;l;m|o=u;l†m;u-ঞomroѴb1‹ olrѴb;7‰b|_ o=|_bv!;rou|ĺ

1ĺ ]]u;]-|;u;l†m;u-ঞomr-b7|oŠ;1†ঞˆ; olrѴb;7‰b|_

 şmomŊ;Š;1†ঞˆ; bu;1|ouvĺ
ƕĺƐƏĺѵ †7b|ollb‚;;
Ѵbv|;7;mঞ|‹v_-ѴѴ_-ˆ;-m†7b|ollb‚;;ĺ olrѴb;7‰b|_ Ѵ;-v;u;=;ur-];vƓѶ-m7ƓƖ
o=|_bv!;rou|ĺ
34 INSPIRING
GENERATIONS

Corporate Governance Report

!†Ѵ; ourou-|;oˆ;um-m1;!†Ѵ; olrѴb-m1; ;|-bѴv

No. "|-|†v
(a) $_;†7b|ollb‚;;"_-ѴѴ1olrubv;o=
†7b|ollb‚;;1omvbv|v
-ĺ lbmbl†lo=|‰obm7;r;m7;m|omŊŠ;1†ঞˆ; bu;1|ouv olrѴb;7‰b|_ o=Cˆ;omŊ;Š;1†ঞˆ;
Őbmbmv|-m1;v‰_;u;-m;mঞ|‹_-vomѴ‹|‰o7bu;1|ouvőouķ bu;1|ouv=o†uo=‰_ol-u;
bm7;r;m7;m|ĺ
0ĺ l-foub|‹o=omŊ;Š;1†ঞˆ; bu;1|ouvv_-ѴѴ0;
independent;
m;momŊ;Š;1†ঞˆ; bu;1|ouv_-ѴѴ0;-rrobm|;7-v|_; olrѴb;7‰b|_ Chairman of the Audit
_-bul-mo=|_;ollb‚;;0‹|_;o-u7o= bu;1|ouvĺ ollb‚;;bv-omŊ;Š;1†ঞˆ;
bu;1|ouĺ
uo†r_b;=Š;1†ঞˆ;L1;u-m7_b;= bm-m1b-ѴL1;u olrѴb;7‰b|_ $_;uo†r_b;=Š;1†ঞˆ;
v_o†Ѵ7-‚;m7†7b|ollb‚;;;;ঞm]vĺ L1;u-m7|_;_b;= bm-m1b-Ѵ
L1;u-‚;m7v|_;l;;ঞm]v
0‹bmˆb|-ঞomĺ
$_;_-bul-mo=|_;†7b|ollb‚;;ouom;l;l0;uv_o†Ѵ7 olrѴb;7‰b|_ _-bul-m-m7$‰oo|_;u
0;-l;l0;uo=-u;1o]mbŒ;7ruo=;vvbom-Ѵ-11o†mঞm]0o7‹ĺ members of the Audit
ollb‚;;-u;_-u|;u;7
11o†m|-m|v‰b|_-ˆ-v|
hmo‰Ѵ;7];om bm-m1b-Ѵ
u;rouঞm]-m71olrѴb-m1;ĺ
(b) †m1ঞomvo=|_;†7b|ollb‚;;v_-ѴѴbm1Ѵ†7;Ĺ

-ĺ ˆ;uv;;bm]o=|_;ru;r-u-ঞomķru;v;m|-ঞom-m7-7;t†-1‹ olrѴb;7‰b|_

of disclosures in the Financial Statements in accordance
‰b|_" !"ņ"ĺ

0ĺ ˆ;uv;;bm]o=|_;1olrѴb-m1;‰b|_Cm-m1b-Ѵu;rouঞm] olrѴb;7‰b|_

u;t†bu;l;m|vķbm=oul-ঞomu;t†bu;l;m|vo=|_;olr-mb;v
1|-m7o|_;uu;Ѵ;ˆ-m|Cm-m1b-Ѵu;rouঞm]u;Ѵ-|;7
u;]†Ѵ-ঞomv-m7u;t†bu;l;m|vĺ Ѵ;-v;u;=;u†7b|ollb‚;;
!;rou|omr-];vƓѶ-m7ƓƖo=
1ĺ ˆ;uv;;bm]|_;ruo1;vv|o;mv†u;|_-||_;bm|;um-Ѵ olrѴb;7‰b|_ |_bv!;rou|=ou|_;=†m1ঞomv
1om|uoѴv-m7ubvhl-m-];l;m|ruo1;vv;v-u;-7;t†-|;|o o=†7b|ollb‚;;ĺ
l;;||_;u;t†bu;l;m|vo=|_;" !"ņ"ĺ

7ĺ vv;vvl;m|o=|_;bm7;r;m7;m1;-m7r;u=oul-m1;o=|_; olrѴb;7‰b|_

;Š|;um-Ѵ-†7b|ouvĺ

;ĺ -h;u;1oll;m7-ঞomv|o|_;o-u7r;u|-bmbm]|o olrѴb;7‰b|_

-rrobm|l;m|ķu;Ŋ-rrobm|l;m|-m7u;loˆ-Ѵo=;Š|;um-Ѵ
-†7b|ouvķ-m7-rruoˆ;|_;u;l†m;u-ঞom-m7|;ulvo=
;m]-];l;m|o=|_;;Š|;um-Ѵ-†7b|ouvĺ
 35
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

!†Ѵ; ourou-|;oˆ;um-m1;!†Ѵ; olrѴb-m1; ;|-bѴv

No. "|-|†v
(c ) -l;vo= bu;1|ouv1olrubvbm]|_;†7b|ollb‚;;v_o†Ѵ7 olrѴb;7‰b|_
0;7bv1Ѵov;7bm|_;mm†-Ѵ!;rou|ĺ

$_;†7b|ollb‚;;v_-ѴѴl-h;-7;|;ulbm-ঞomo=|_; olrѴb;7‰b|_ Please refer the Audit

independence of the Auditors and disclose the basis for such ollb‚;;!;rou|omr-];v
7;|;ulbm-ঞomĺ 48 and 49 of this Report

The Annual Report shall contain a Report by the Audit olrѴb;7‰b|_

ollb‚;;ķv;মm]o†||_;l-mm;uo=1olrѴb-m1;bmu;Ѵ-ঞom
|o|_;-0oˆ;ĺ
ƕĺѵ bv1Ѵov†u;bm|_;mm†-Ѵ!;rou|
ѴѴѴbv|;7;mঞঞ;vl†v|bm1Ѵ†7;bmb|vmm†-Ѵ!;rou|v-m7
accounts, inter alia;

-ĺ-l;vo=r;uvomv‰_o‰;u;7bu;1|ouvo=|_;;mঞ|‹7†ubm] olrѴb;7‰b|_ Please refer Corporate

|_;‹;-uĺ m=oul-ঞomombmm;u0-1h
1oˆ;uo=|_bv!;rou|ĺ
0ĺubm1br-Ѵ-1ঞˆbঞ;vo=|_;;mঞ|‹-m7b|vv†0vb7b-ub;v7†ubm] olrѴb;7‰b|_ Ѵ;-v;u;=;ur-];ƔƑo=|_;
|_;‹;-u-m7-m‹1_-m];v|_;u;bmĺ o-u7o= bu;1|ouv!;rou|ĺ

1ĺ-l;v-m7|_;m†l0;uvo=v_-u;v_;Ѵ70‹|_;ƑƏѴ-u];v| olrѴb;7‰b|_ Ѵ;-v;u;=;ur-];ƐƑƑo=|_bv

ˆoঞm]-m7momŊˆoঞm]v_-u;_oѴ7;uv-m7r;u1;m|-];vĺ !;rou|ĺ

7ĺ †0Ѵb1oѴ7bm]r;u1;m|-]; olrѴb;7‰b|_ Ѵ;-v;u;=;ur-];ƐƑƒo=|_bv

Report

;ĺ v|-|;l;m|o=;-1_7bu;1|ouĽv_oѴ7bm]-m71_b;=;Š;1†ঞˆ; olrѴb;7‰b|_ Ѵ;-v;u;=;ur-];ƐƑƐo=|_bv

oL1;uĽv_oѴ7bm]vbmv_-u;vo=|_;;mঞ|‹-||_;0;]bmmbm] !;rou|ĺ
-m7;m7o=;-1_‹;-uĺ

=ĺ m=oul-ঞomu;Ѵ-ঞm]|ol-|;ub-Ѵ=ou;v;;-0Ѵ;ubvh=-1|ouvo= olrѴb;7‰b|_ Ѵ;-v;u;=;ur-];vƑѶ|oƑƖo=

|_;;mঞ|‹ĺ |_bv!;rou|ĺ

]ĺ ;|-bѴvo=l-|;ub-Ѵbvv†;vr;u|-bmbm]|o;lrѴo‹;;v-m7 ņ ol-|;ub-Ѵbvv†;vr;u|-bmbm]

bm7†v|ub-Ѵu;Ѵ-ঞomvo=|_;;mঞ|‹ĺ to employees and industrial
u;Ѵ-ঞomvĺ
_ĺ Š|;m|vķѴo1-ঞomvķˆ-Ѵ†-ঞomv-m7o|_;um†l0;uo= olrѴb;7‰b|_ Ѵ;-v;u;=;ur-];vѶѵ-m7ƐƑƓ
0†bѴ7bm]vo=|_;;mঞ|‹ĽvѴ-m7_oѴ7bm]-m7bmˆ;v|l;m| o=|_bv!;rou|ĺ
ruor;u|‹ĺ

bĺ †l0;uo=v_-u;vu;ru;v;mঞm]|_;;mঞ|‹Ľv|-|;71-rb|-Ѵ olrѴb;7‰b|_ Ѵ;-v;u;=;ur-];vƐƑƏ-m7ƖƖ

o=|_bv!;rou|ĺ

fĺ 7bv|ub0†ঞomv1_;7†Ѵ;o=|_;m†l0;uo=_oѴ7;uvbm;-1_ olrѴb;7‰b|_ Ѵ;-v;u;=;ur-];ƐƑƏo=|_bv

1Ѵ-vvo=;t†b|‹v;1†ub|‹-m7|_;r;u1;m|-];o=|_;bu|o|-Ѵ !;rou|ĺ
_oѴ7bm]vbm|_;vr;1bC;71-|;]oub;vĺ
36 INSPIRING
GENERATIONS

Corporate Governance Report

!†Ѵ; ourou-|;oˆ;um-m1;!†Ѵ; olrѴb-m1; ;|-bѴv

No. "|-|†v
hĺ oѴѴo‰bm]u-ঞov-m7l-uh;|rub1;bm=oul-ঞomĺ
Ɛĺ Dividend per share
Ƒĺ Dividend pay out
ƒĺ Net asset value per share olrѴb;7‰b|_ Ѵ;-v;u;=;ur-];vƐƐƖ|oƐƑƏ
Ɠĺ -uh;|ˆ-Ѵ†;r;uv_-u; o=|_bv!;rou|ĺ
 b]_;v|-m7|_;Ѵo‰;v|ˆ-Ѵ†;u;1ou7;7ĺ
 (-Ѵ†;-v-||_;;m7o=|_;‹;-uĺ
Ѵĺ "b]mbC1-m|1_-m];vbm|_;;mঞ|‹Ľvoub|vv†0vb7b-u‹ĽvĽCŠ;7 olrѴb;7‰b|_ Please refer Note 5 to the
-vv;|-m7|_;l-uh;|ˆ-Ѵ†;o=Ѵ-m7ķb=|_;ˆ-Ѵ†;7b@;uv bm-m1b-Ѵ"|-|;l;m|omr-];
v†0v|-mঞ-ѴѴ‹=uol|_;0oohˆ-Ѵ†; Ѷѵo=|_bv!;rou|ĺ

+"!$""ĺ

lĺ ѴѴ oѴѴo‰bm]bm=oul-ঞomv_-ѴѴ0;7bv1Ѵov;7bm|_;mm†-Ѵ olrѴb;7‰b|_
!;rou|o=|_;Ѵbv|;7;mঞ|‹bmu;vr;1|o=;-1_""ĸ
Ŋ m†l0;uo=orঞomv]u-m|;7|o;-1_1-|;]ou‹o=
;lrѴo‹;;vķ7†ubm]|_;‹;-uĺ
Ŋ |o|-Ѵm†l0;uo=orঞomvˆ;v|;70†|mo|;Š;u1bv;70‹;-1_ olrѴb;7‰b|_
1-|;]ou‹o=;lrѴo‹;;v7†ubm]|_;Cm-m1b-Ѵ‹;-uĺ Ѵ;-v;u;=;ur-];Ɣƒo=|_;
Ŋ |o|-Ѵm†l0;uo=orঞomv;Š;u1bv;70‹;-1_1-|;]ou‹o= o-u7o= bu;1|ouv!;rou|ĺ
;lrѴo‹;;v-m7|_;|o|-Ѵm†l0;uo=v_-u;v-ubvbm]|_;u;
=uol7†ubm]|_;Cm-m1b-Ѵ‹;-uĺ
Ŋ orঞomv1-m1;ѴѴ;77†ubm]|_;Cm-m1b-Ѵ‹;-u-m7|_;u;-vomv olrѴb;7‰b|_
=ouv†1_1-m1;ѴѴ-ঞomĺ
Ŋ |_;;Š;u1bv;rub1;ĺ
Ŋ -7;1Ѵ-u-ঞom0‹|_;7bu;1|ouvo=|_;;mঞ|‹1omCulbm]|_-| olrѴb;7‰b|_
|_;;mঞ|‹ou-m‹o=b|vv†0vb7b-ub;v_-vmo|7bu;1|Ѵ‹ou

Ŗo|;ĺ

uĺĺ,-vvbl‰_o‰-v-rrobm|;7-v-omŊŠ;1†ঞˆ; bu;1|ouomƐƑĺƏƓĺƐƖƖƐķ1omঞm†;v|o0;-omŊŠ;1†ঞˆ;ķm7;r;m7;m| bu;1|ouo=|_;

olr-m‹-lb7v|_bv|;moubmoL1;;Š1;;7bm]mbm;‹;-uvĺuvĺ!o_bmbĺ-m-‹-hh-u-‰-v-rrobm|;7|o|_;o-u7-v-omŊŠ;1†ঞˆ;m7;r;m7;m|
bu;1|ouomƑƏĺƏƔĺƑƏƏƓķ1omঞm†;v|o0;-omŊŠ;1†ঞˆ;ķm7;r;m7;m| bu;1|ouo=|_;olr-m‹-lb7v|_;u|;moubmoL1;;Š1;;7bm]mbm;‹;-uvĺ
uĺfb|ĺ ;"ĺ-‹-u-|m;‰-v-rrobm|;7-v-omŊŠ;1†ঞˆ; bu;1|ouomƐƏĺƐƏĺƑƏƏƔķ1omঞm†;v|o0;-omŊŠ;1†ঞˆ;m7;r;m7;m| bu;1|ouo=
|_;olr-m‹-lb7v|_bv|;moubmoL1;;Š1;;7bm]mbm;‹;-uvĺuĺ$bvv-ĺ-m7-u-m-‹-h;‰-v-rrobm|;7-v-omŊŠ;1†ঞˆ;m7;r;m7;m| bu;1|ou|o
|_;o-u7omƐƖĺƏƔĺƑƏƐƐ-m7 uĺ!-m;;-‹-l-_-‰-v-rrobm|;7-v-omŊŠ;1†ঞˆ;m7;r;m7;m| bu;1|ou|o|_;o-u7omƐƔĺƏƒĺƑƏƐƒĺ

uĺu-ˆbu"-l-u-vbm]_;‰-v-rrobm|;7|o|_;o-u7-v-mŠ;1†ঞˆ; bu;1|ouomƑƓĺƏƓĺƑƏƐƓĺ

uĺ"ĺĺ$-oķ|_;_-bul-mo=|_;olr-m‹ķuvĺbѴ7u;7$-om]ķuĺ;Ѵˆbm+-ro_bm-m7uĺmbm]m]u;ru;v;m||_;r-u;m|olr-m‹"_bm]
‰-muo†r‰_b1__oѴ7lou;|_-mƔƏѷo=v_-u;vo=|_;olr-m‹ĺ

uĺ!-Ѵr_ ;-m;uoѴѴ;‰_o‰-v-rrobm|;7|o|_;o-u7omƏƒĺƏѵĺƑƏƐƏbv-Ѵvo-mŠ;1†ঞˆ; bu;1|ouo=bu;h--rb|-Ѵ-m7Őubˆ-|;őblb|;7ķ‰_b1_

bv-v†0vb7b-u‹o=|_;olr-m‹ĺ

$_;o-u7bvo=|_;1oѴѴ;1ঞˆ;orbmbom|_-||_;l-foub|‹o=omŊŠ;1†ঞˆ; bu;1|ouv-u;m7;r;m7;m|o=|_;l-m-];l;m|o=|_;1olr-m‹-m7=u;;

=uol-m‹0†vbm;vvouo|_;uu;Ѵ-ঞomv_br|_-|1o†Ѵ7l-|;ub-ѴѴ‹bm|;u=;u;bm|_;;Š;u1bv;o=|_;bu=u;;-m7=-buf†7]l;m|ĺ

OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015
o7;o=;v|u-1ঞ1;o=ourou-|;oˆ;um-m1;bvv†;7fobm|Ѵ‹0‹|_;";1†ubঞ;v-m7Š1_-m];ollbvvbomo="ub-mh-
Ő"ő-m7|_;Ŋ"ub-mh-ĺ
";1ঞom†l0;u
1 The Company
 bu;1|ouv
ĺƐ $_;o-u7 Every public company should be
_;-7;70‹-m;@;1ঞˆ;o-u7ķ
‰_b1_v_o†Ѵ77bu;1|ķѴ;-7-m7
1om|uoѴ|_;olr-m‹ĺ
ĺƐĺƐ !;]†Ѵ-uo-u7
u;t†;m1‹o=o-u7l;;ঞm]vŐ-| Compliant o-u7l;;|vom1;;ˆ;u‹t†-u|;uķl-bmѴ‹
 ;;ঞm]v least once every quarter )
ĺƐĺƑ o-u7 mv†u;=oul†Ѵ-ঞom-m7
!;vromvb0bѴbঞ;v blrѴ;l;m|-ঞomo=-vo†m7
0†vbm;vvv|u-|;]‹ĺ
mv†u;|_-||_; ņ-m7|_;
-m-];l;m||;-lrovv;vv|_;
necessary skills,
;Šr;ub;m1;-m7hmo‰Ѵ;7];=ou
;@;1ঞˆ;blrѴ;l;m|-ঞomo=|_;
v|u-|;]‹ĺ
7-r|;@;1ঞˆ;-m7v;mbou
l-m-];l;m|v†11;vvbomv|u-|;]‹
37
olrѴb-m1; olr-m‹Ľollb|l;m|
"|-|†v
Compliant $_;olr-m‹bv_;-7;70‹-m;@;1ঞˆ;
o-u7ĺ$_;uoѴ;o=|_;o-u7-m7b|v
l;l0;uvķo-u7=†m1ঞomvķo-u7
ruo1;7†u;v-m7]oˆ;um-m1;-1ঞˆbঞ;v-u;
7bv1†vv;7bm7;|-bѴ=uolr-];vƒƏ|oƒƐĺ
|ou;ˆb;‰|_;olr-m‹Ľvr;u=oul-m1;
-m7|o7;|;ulbm;‰_;|_;ub|vv|u-|;]b;v
-m70†vbm;vvru-1ঞ1;v-u;bmѴbm;‰b|_
|_;;Šr;1|-ঞomo=|_;o-u7ĺm7bˆb7†-Ѵ
-‚;m7-m1;bv]bˆ;momr-];ƒƐĺ
Compliant $_;o-u7-vv†l;v|_;rubl-u‹
responsibility for the overall success
o=|_;1olr-m‹ĺ$_;o-u7bvbmˆoѴˆ;7
bm=oul†Ѵ-ঞm]|_;oˆ;u-ѴѴv|u-|;]‹-m7
l;-v†ubm]ķ|_-|b|bvblrѴ;l;m|;7
0‹|_;ĺ$_; ņķ|o];|_;u
‰b|_|_;l-m-];l;m||;-l7;ˆ;Ѵorv
1ourou-|;v|u-|;]b;vķ-mm†-Ѵ0†7];|v
-m7-1ঞomrѴ-mv|oblrѴ;l;m|1ourou-|;
v|u-|;]b;vom-mm†-Ѵ0-vbvĺ$_;1ourou-|;
rѴ-m-m7-mm†-Ѵ0†7];|-u;-rruoˆ;70‹
|_;o-u7;ˆ;u‹‹;-u-m7-1_b;ˆ;l;m|o=
|_;o0f;1ঞˆ;vv;|bm|_;rѴ-mbvlomb|ou;7
1Ѵov;Ѵ‹0‹|_;o-u7ĺ
Compliant $_;o-u7-1ঞˆ;Ѵ‹‰ouhv|o;mv†u;|_-|
|_;-m7|_;l-m-];l;m||;-l
1omঞm†;|o_-ˆ;|_;ub]_|0-Ѵ-m1;o=vhbѴѴvķ
;Šr;ub;m1;-m7hmo‰Ѵ;7];m;1;vv-u‹
|o7bv1_-u];|_;buu;vromvb0bѴbঞ;vbm
-11ou7-m1;‰b|_|_;_b]_;v|v|-m7-u7vo=
]oˆ;um-m1;ĺ
Compliant Succession plans are in place for the CEO
-m7=ouo|_;uh;‹l-m-];ub-Ѵrovbঞomv-m7
-u;lomb|ou;71omঞm†o†vѴ‹ĺ
38 INSPIRING
GENERATIONS
Corporate Governance Report
";1ঞom†l0;u
ĺƐĺƑ o-u7 mv†u;|_-|;@;1ঞˆ;v‹v|;lv
 !;vromvb0bѴbঞ;v -u;bmrѴ-1;|ov;1†u;bm|;]ub|‹
 om|7ĺĺĺ o=bm=oul-ঞomķbm|;um-Ѵ1om|uoѴvķ
0†vbm;vv1omঞm†b|‹-m7ubvh
l-m-];l;m|ĺ
Ensure that the company’s
-1ঞˆbঞ;v-u;1om7†1|;7bm
1olrѴb-m1;‰b|_Ѵ-‰vķu;]†Ѵ-ঞomv
-m7;|_b1-Ѵv|-m7-u7vĺ
Ensure that all stakeholder interests Compliant
are considered in corporate
decisions
!;1o]mbŒ;7v†v|-bm-0Ѵ;0†vbm;vv
7;ˆ;Ѵorl;m|bm1ourou-|;v|u-|;]‹ķ
7;1bvbomv-m7-1ঞˆbঞ;v
Ensure that the Company’s Compliant
ˆ-Ѵ†;v-m7v|-m7-u7v-u;v;|‰b|_
;lr_-vbvom-7orঞm]-rruorub-|;
!"ņ"ő‰_b1_‰-v-7or|;7=uol|_;
-11o†mঞm]roѴb1b;v-m7=ov|;ubm]
†u|_;u|_;-11o†mঞm]
1olrѴb-m1;‰b|_Cm-m1b-Ѵ
u;]†Ѵ-ঞomv
†ѴCѴѴo|_;uo-u7=†m1ঞomv|_-| Compliant $_;o-u7|-h;v-ѴѴb|v7;1bvbomvr-‹bm]7†;
-u;ˆb|-Ѵķ]bˆ;m|_;v1-Ѵ;ķm-|†u;
-m71olrѴ;Šb|‹o=|_;0†vbm;vv
1om1;um;7ĺ
ĺƐĺƒ olrѴb-m1; 1|bm-11ou7-m1;‰b|_|_;Ѵ-‰vo= Compliant
 ‰b|_-‰v the country and seek professional
-m711;vv|o -7ˆb1;‰_;m;ˆ;uu;t†bu;7ĺ
m7;r;m7;m|
uo=;vvbom-Ѵ
7ˆb1;
olrѴb-m1; olr-m‹Ľollb|l;m|
"|-|†v
Compliant @;1ঞˆ;v‹v|;lv-m7ruo1;7†u;v-u;bm
rѴ-1;|o;mv†u;|_;bm|;]ub|‹o=bm=oul-ঞomķ
bm|;um-Ѵ1om|uoѴv-m7bm=oul-ঞomv;1†ub|‹ĺ
"†1_v‹v|;lv-u;1omঞm†o†vѴ‹lomb|ou;7
0‹|_;l-m-];l;m|ķbm|;um-Ѵ-m7;Š|;um-Ѵ
-†7b|ouv-m7-|ঞl;v0‹bm7;r;m7;m|
;Šr;u|vĺ
Compliant $_;o-u7_-v-7or|;7-1olrѴb-m1;
roѴb1‹|o]bˆ;7bu;1ঞom|o|_;l-m-];l;m|
‰b|_u;]-u7|o1olrѴb-m1;-1ঞˆbঞ;vĺ$_;
1olr-m‹_-v-Ѵvobvv†;7-]uo†rroѴb1‹
|_-|;lrѴo‹;;vv_o†Ѵ71olrѴ‹‰b|_ĺ
The board ensures that the interest of all
v|-h;_oѴ7;uvbv1omvb7;u;7-m7v-=;]†-u7;7
bml-hbm]1ourou-|;7;1bvbomĺ
Compliant $_;o-u7u;1o]mbŒ;v|_;m;1;vvb|‹o=
sustainable business development in the
1ourou-|;v|u-|;]‹ķ7;1bvbomv-m7-1ঞˆbঞ;vĺ
Ѵ;-v;u;=;uv†v|-bm-0bѴb|‹u;rou|omr-];v
ƑƓ|oƑƕĺ
$_;1olr-m‹Ľv-11o†mঞm]roѴb1b;v-u;=†ѴѴ‹
bmѴbm;‰b|_"ub-mh-11o†mঞm]"|-m7-u7v
Ő"
Cm-m1b-Ѵ‹;-uƑƏƐƒĺ
roѴb1b;v-u;u;ˆb;‰;7-mm†-ѴѴ‹|o0;bmѴbm;
‰b|_|_;1_-m]bm]0†vbm;vvu;t†bu;l;m|v
-m70;v|ru-1ঞ1;vbm|_;bm7†v|u‹ĺѴ;-v;
u;=;ubm7;r;m7;m|-†7b|ouĽvu;rou|]bˆ;mom
r-];ѵƐĺ
-‚;mঞom|o|_;bm|;u;v|o=-ѴѴv|-h;_oѴ7;uvĺ
$_;o-u7-Ѵvobm|;uˆ;m;v‰_;mm;1;vv-u‹ķ
bm-m‹o|_;u=†m1ঞom|_-|bvˆb|-Ѵ]bˆ;m|_;
v1-Ѵ;ķm-|†u;-m7|_;1olrѴ;Šb|‹o=|_;
1olr-m‹Ľv0†vbm;vvĺ
$_;0o-u7-1|bm-11ou7-m1;‰b|_|_;Ѵ-‰v
bm|_;1o†m|u‹ĺ$_;o-u7_-vr;ulb‚;7-ѴѴ
Directors to seek independent professional
-7ˆb1;ĺ
 39
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

";1ঞom†l0;u olrѴb-m1; olr-m‹Ľollb|l;m|

"|-|†v
ĺƐĺƓ 11;vv|o Advice and Services of the Compliant $_;1olr-m‹v;1u;|-u‹ķ‰_obv-m
 7ˆb1;-m7 Company Secretary -‚oum;‹Ŋ-|ŊѴ-‰0‹ruo=;vvbomķbv-11;vvb0Ѵ;
|_;";uˆb1;v by any Director for the services of the
o=-olr-m‹ 1olr-m‹ĺ$_;1olr-m‹v;1u;|-u‹-7ˆb1;v
";1u;|-u‹ |_;0o-u7-m7;mv†u;v|_-|l-‚;uv
1om1;umbm]|_;olr-mb;v1|ķ0o-u7
procedures and other applicable rules and
u;]†Ѵ-ঞomv-u;=oѴѴo‰;7ĺ"_;-Ѵvov;uˆ;v-v
|_;v;1u;|-u‹|o|_;-†7b|1ollb‚;;-m7
|_;u;l†m;u-ঞom1ollb‚;;ĺ
ĺƐĺƔ m7;r;m7;m| ubm]m7;r;m7;m|f†7]l;m| Compliant ѴѴ7bu;1|ouv;Š;u1bv;bm7;r;m7;m|
 †7]l;m|o= on various business issues and f†7]l;m|om7;1bvbomvl-7;0‹|_;
bu;1|ouv standards of business conduct 0o-u7ombvv†;vo=v|u-|;]‹ķr;u=oul-m1;ķ
u;vo†u1;-ѴѴo1-ঞom-m7|_;1om7†1|o=
0†vbm;vvĺ
ĺƑ _-bul-m-m7 _-bul-m-m7-u;|‰o Compliant $_;=†m1ঞomvo=|_;_-bul-m-m7
_b;=Š;1†ঞˆ; 7b@;u;m|rovbঞomv-m7m;;7|o0; are clearly separated to ensure balance of
L1;u 7bˆb7;7u;vromvb0bѴbঞ;vĺ ro‰;u-m7-†|_oub|‹ĺ
ĺƑĺƐ bv1Ѵov†u;u;t†bu;7b=|_;rovbঞomv Not $_;rovbঞomvo=|_;_-bul-m-m7
of the Chairman and the CEO are Applicable -u;v;r-u-|;7ĺ
1ol0bm;7ĺ
ĺƒ _-bul-mĽv!oѴ; $_;_-bul-mĽvuoѴ;bmru;v;uˆbm] Compliant $_;_-bul-mbvu;vromvb0Ѵ;=ouѴ;-7bm]|_;
]oo7ourou-|;oˆ;um-m1; o-u7-m7;mv†ubm]|_-|b|or;u-|;v†m7;u
|_;_b]_;v|v|-m7-u7vo=]oˆ;um-m1;ĺ
ĺƓ bm-m1b-Ѵ1†l;m ˆ-bѴ-0bѴb|‹o=v†L1b;m|Cm-m1b-Ѵ $_;=oѴѴo‰bm]l;l0;uvo=|_;o-u7ķ-u;
-1†l;m-m7hmo‰Ѵ;7];|oo@;u hmo‰Ѵ;7];-0Ѵ;-m7;Šr;ub;m1;7bm7bˆb7†-Ѵv
]†b7-m1;oml-‚;uvo=Cm-m1; ‰_o1-mruoˆb7;]†b7-m1;oml-‚;uvo=
Cm-m1;ĺѴѴ bu;1|ouvrovv;vvt†-ѴbC1-ঞomv
-m7ņou;Šr;ub;m1;bm-11o†mঞm]-m7
Cm-m1;ĺ

u;Ѵˆbm+-ro_bmķufb|_-_;m7u-
;"bѴˆ--‹-u-|m;ķu$bvv-†l-u-
-m7-u-m-‹-h;-u;t†-ѴbC;711o†m|-m|vĺ
Ѵ;-v;u;=;uruoCѴ;vo= bu;1|ouvomr-];v
Ѷ|oƐƐĺ
ĺƔ o-u7-Ѵ-m1; $_;o-u7v_o†Ѵ7_-ˆ;-0-Ѵ-m1; Compliant ||_;;m7o=|_;‹;-uķ|_;o-u7
o=;Š;1†ঞˆ;-m7momŊŠ;1†ঞˆ; 1olrubv;7;Ѵ;ˆ;m bu;1|ouv-m7-ѴѴ;Š1;r|
bu;1|ouvĺ |_;ķ-u;momŊ;Š;1†ঞˆ;ķ|_;u;0‹
ruoloঞm]1ubঞ1-Ѵu;ˆb;‰-m71om|uoѴĺ
Ѵ;-v;u;=;u-];Ѷ|oƐƐo=|_;uoCѴ;o=
bu;1|ouvĺ
ĺƔĺƐ u;v;m1;o=momŊŠ;1†ঞˆ; Compliant $;mo=|_;;Ѵ;ˆ;mo-u7l;l0;uv-u;omŊ
bu;1|ouvĺ Š;1†ঞˆ;ķ‰_b1_bvbm;Š1;vvo=om;|_bu7
o=|_;|o|-Ѵm†l0;uo= bu;1|ouvĺ
40 INSPIRING
GENERATIONS
Corporate Governance Report
";1ঞom†l0;u
ĺƔĺƑ Independent Directors
bˆ;omŊŠ;1†ঞˆ; bu;1|ouv-u;
ĺƔĺƒ ub|;ub-|o;ˆ-Ѵ†-|;ľm7;r;m7;m1;Ŀ Compliant
o=omŊŠ;1†ঞˆ; bu;1|ouv
ĺƔĺƓ mm†-Ѵ ;1Ѵ-u-ঞomo=omŊ
Š;1†ঞˆ; bu;1|ouv
ĺƔĺƔ mm†-Ѵ7;|;ulbm-ঞomo=
ļm7;r;m7;m1;Ľo=omŊŠ;1†ঞˆ;
bu;1|ouv0‹|_;o-u7
ĺƔĺѵ Appointment and disclosure of
senior independent directors
ĺƔĺƕ Availability of the senior
independent director for
1omC7;mঞ-Ѵ7bv1†vvbomv‰b|_o|_;u
directors
ĺƔĺƖ !;1ou7bm]o=1om1;umv‰_b1_
cannot be unanimously resolved in
o-u7lbm†|;vĺ
ĺѵ "†rrѴ‹o= $_;o-u7v_o†Ѵ70;ruoˆb7;7‰b|_
bm-m1b-Ѵ-m7momŊCm-m1b-Ѵbm=oul-ঞom-u;
m=oul-ঞom ঞl;Ѵ‹bm=oul-ঞom
in a form and of a quality
appropriate to enable it to
7bv1_-u];b|v7†ঞ;vĺ
olrѴb-m1; olr-m‹Ľollb|l;m|
"|-|†v
Compliant
bm7;r;m7;m|ķ‰_b1_bvbm;Š1;vvo=om;
|_bu7o=|_;omŊŠ;1†ঞˆ; bu;1|ouvĺ
ѴѴCˆ;bm7;r;m7;m|momŊ;Š;1†ঞˆ;
directors meet the criteria for
independence as per the code of best
ru-1ঞ1;vķ1ourou-|;]oˆ;um-m1;Ő1o7;ő-m7
Ѵbvঞm]u†Ѵ;v-m7=u;;
o=0†vbm;vvouo|_;uu;Ѵ-ঞomv_brv|_-|
1o†Ѵ7lo7;u-|;Ѵ‹bmY†;m1;|_;;Š;u1bv;
o=|_;bu†m=;‚;u;7-m7bm7;r;m7;m1;
f†7]l;m|ĺ
Compliant ѴѴmomŊ;Š;1†ঞˆ;7bu;1|ouv_-ˆ;v†0lb‚;7
|_;7;1Ѵ-u-ঞomo=bm7;r;m7;m1;oumomŊ
bm7;r;m7;m1;-vr;u|_;1o7;ĺ
Compliant $_;o|;omr-];ƒѵo=|_bv-mm†-Ѵu;rou|
has determined the independence or non-
bm7;r;m7;m1;o=;-1_7bu;1|ouĺ
Not Since the role of the chairman and the
applicable CEO of the company are separated, this
u;t†bu;l;m|7o;vmo|-ubv;ĺ
Not -Do-
Applicable
Compliant ѴѴ7;1bvbomvo=|_;o-u7‰;u;|-h;m
unanimously and there are no concerns
u-bv;70‹|_;7bu;1|ouv7†ubm]|_;‹;-u
‰_b1_m;;7;7|o0;u;1ou7;7bm|_;0o-u7
lbm†|;vĺo‰;ˆ;ub=v†1_1om1;umv7o
arise the company’s policy is to record
|_;l-11ou7bm]Ѵ‹ĺ
-m-Ѵ‹Œ;7-m7ru;v;m|;7|o|_;0o-u7|o
l-h;-11†u-|;7;1bvbomvĺ
 41
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

";1ঞom†l0;u olrѴb-m1; olr-m‹Ľollb|l;m|

ĺѵĺƐ -m-];l;m|vu;vromvb0bѴb|‹|o
ruoˆb7;|_;o-u7‰b|_-rruorub-|;
-m7ঞl;Ѵ‹bm=oul-ঞom
ĺѵĺƑ 7;t†-|;ঞl;=ou;@;1ঞˆ;o-u7
;;ঞm]v
ĺƕ rrobm|l;m|v|o There should be a formal and
|_;o-u7 transparent procedure for the
-rrobm|l;m|o=m;‰ bu;1|ouv|o
|_;o-u7ĺ
ĺƕĺƒ bv1Ѵov†u;o=7;|-bѴvo=m;‰
directors to shareholders
ĺѶ !;Ѵ;1ঞom All Directors should be required to
v†0lb||_;lv;Ѵˆ;v=ouu;Ŋ;Ѵ;1ঞom
-|u;]†Ѵ-ubm|;uˆ-Ѵv-m7-|Ѵ;-v|
once in every three years
ĺѶĺƐ rrobm|l;m|-m7u;Ŋ;Ѵ;1ঞomo=
momŊŠ;1†ঞˆ; bu;1|ouv
"|-|†v
Compliant $_;l-m-];l;m|;mv†u;v|_-|-
v;|o=ঞl;Ѵ‹-11†u-|;u;Ѵ;ˆ-m|-m7
1olru;_;mvbˆ;bm=oul-ঞombv
ruoˆb7;7|o|_; bu;1|ouv0;=ou;|_;o-u7
;;ঞm];ˆ;u‹lom|_ķ‰b|_-7;t†-|;ঞl;
=ou|_;l|ou;ˆb;‰|_;v-l;-m7ru;r-u;
=ou7bv1†vvbomvĺѴѴvb]mbC1-m|Cm-m1b-Ѵ-m7
momŊCm-m1b-Ѵbm=oul-ঞom=ou|_;r;ubo7-u;
bm1Ѵ†7;7bm|_bv-m-Ѵ‹vbvĺ
Compliant ѴѴo-u7-r;uv-m7r-r;uv=ou
v†01ollb‚;;l;;ঞm]v-u;1bu1†Ѵ-|;7-|
Ѵ;-v|om;‰;;hrubou|ov†1_l;;ঞm]vĺ
ѴѴm;‰-rrobm|l;m|vo=|_;o-u7-u;
l-7;=oѴѴo‰bm]-=oul-Ѵ-m7|u-mvr-u;m|
ruo1;7†u;ĺ
Compliant ѴѴ-rrobm|l;m|vo=m;‰7bu;1|ouv-u;
bm=oul;7|o|_;v_-u;_oѴ7;uv‰b|_
v†L1b;m|7;|-bѴvˆb-bll;7b-|;moঞC1-ঞom
|o|_;"ĺ
Ѵ;-v;u;=;ur-];ƒƐo=|_;-mm†-Ѵu;rou|
=ou7;|-bѴvo=u;Ŋ;Ѵ;1ঞomo= bu;1|ouvĺ
Compliant Ѵ;-v;u;=;ur-];ƒƐo=|_;mm†-Ѵ!;rou|

ĺѶĺƑ Ѵ;1ঞomo= bu;1|ouv0‹|_; Compliant Ѵ;-v;u;=;ur-];ƒƐo=|_;mm†-Ѵ!;rou|

shareholders

ĺƐƏ bv1Ѵov†u;o= "_-u;_oѴ7;uvv_o†Ѵ70;h;r|-7ˆbv;7o=u;Ѵ;ˆ-m|7;|-bѴvbmu;vr;1|o= bu;1|ouvĺ

 m=oul-ঞomo=
bu;1|ouvĺ
ĺƐƏĺƐ Disclosures on Directors in the Compliant !;t†bu;7bm=oul-ঞom‰b|_u;vr;1|
annual report to Directors are disclosed in this
-mm†-Ѵu;rou|ķ‰_;u;u;Ѵ;ˆ-m|ĺ-l;vķ
t†-ѴbC1-ঞomv-m7ruoCѴ;vķbm1Ѵ†7bm]
;Šr;uঞv;bmu;Ѵ;ˆ-m|=†m1ঞom-Ѵ-u;-vo=-ѴѴ
o-u7;l0;uv-u;ruoˆb7;7omr-];vѶ
|oƐƐĺ

Details of Directors interest in contracts

-u;]bˆ;momr-];ƔƓĺ

;|-bѴvo=u;Ѵ-|;7r-u|‹|u-mv-1ঞomv-u;
ruoˆb7;7omr-];vƐƏѶ|oƐƐƏĺ
42 INSPIRING
GENERATIONS

Corporate Governance Report

";1ঞom†l0;u olrѴb-m1; olr-m‹Ľollb|l;m|

"|-|†v
ĺƐƐ rru-bv-Ѵo= $_;o-u7v_o†Ѵ70;u;t†bu;7ķ
at least annually, to assess the
performance of the CEO
ĺƐƐĺƐ ";মm]-mm†-Ѵ|-u];|=ou ņ Compliant
mm†-ѴѴ‹|_;!;l†m;u-ঞomollb‚;;-m7
|_;o-u7-vv;vv;7|_;Ľvr;u=oul-m1;
-v;7omѴom]|;ulv|u-|;]‹-mm†-Ѵ
o0f;1ঞˆ;v-u;CŠ;70‹|_;o-u7ĺ

ĺƐƐĺƑ ˆ-Ѵ†-ঞomo=|_;r;u=oul-m1;o= Compliant ˆ-Ѵ†-ঞomvo=-1_b;ˆ;l;m|v;|-u;

the CEO u;ˆb;‰;7-mm†-ѴѴ‹0‹|_;o-u7ĺ

ĺ bu;1|ouv olr-mb;vv_o†Ѵ7;v|-0Ѵbv_-=oul-Ѵ-m7|u-mvr-u;m|ruo1;7†u;=ou7;ˆ;Ѵorbm]roѴb1b;vom

!;l†m;u-ঞom ;Š;1†ঞˆ;u;l†m;u-ঞom-m7=ouCŠbm]|_;u;l†m;u-ঞomr-1h-];vo=bm7bˆb7†-Ѵ bu;1|ouvĺo
bu;1|ouv_o†Ѵ70;bmˆoѴˆ;7bm7;1b7bm]_bvņ_;uo‰mu;l†m;u-ঞomĺ
ĺƐĺƐ u;v;m1;o=-!;l†m;u-ঞom Compliant !;l†m;u-ঞomollb‚;;_-v0;;m
ollb‚;; -rrobm|;7-m7=†m1ঞomv‰b|_bm-]u;;7
|;ulvo=u;=;u;m1;ĺ

Ѵ;-v;u;=;ur-];Ɠƕ=ou|_;!;l†m;u-ঞom
ollb‚;;!;rou|ĺ
ĺƐĺƑ olrovbঞomo=!;l†m;u-ঞom Compliant Ѵ;-v;u;=;ur-];Ɠƕ=ou7;|-bѴvo=|_;
ollb‚;; 1olrovbঞomo=!;l†m;u-ঞomollb‚;;ĺ

ĺƐĺƒ Disclosure of the members of the Compliant ;l0;uvu;vromvb0bѴbঞ;v-m7o|_;u

!;l†m;u-ঞomollb‚;;bm|_; bm=oul-ঞombmu;vr;1|o=|_;u;l†m;u-ঞom
mm†-Ѵ!;rou|ĺ 1ollb‚;;-u;7bv1Ѵov;7omr-];Ɠƕĺ
ĺƐĺƓ ;|;ulbm-ঞomo=u;l†m;u-ঞomo= Compliant omŊŠ;1†ঞˆ; bu;1|ou‰_o-u;molbm;;v
omŊŠ;1†ঞˆ; bu;1|ouv of the parent company are paid a nominal
=;;=ou|_;bu-‚;m7-m1;-||_;o-u7-m7
v†01ollb‚;;l;;ঞm]v
ĺƐĺƔ 0bѴb|‹|o1omv†Ѵ||_;1_-bul-m-m7ņ Compliant $_;1ollb‚;;1omv†Ѵ|v|_;_-bul-m-m7
or CEO and to seek professional |_;ķ‰_;u;m;1;vv-u‹ķ_-v-11;vv|o
-7ˆb1;0‹|_;1ollb‚;; |_;ruo=;vvbom-Ѵ-7ˆb1;=uol‰b|_bm-m7
o†|vb7;|_;1olr-m‹ĺ
ĺƑ ;ˆ;Ѵ-m7 $_;;ˆ;Ѵvo=u;l†m;u-ঞomo=0o|_Š;1†ঞˆ;-m7omŊŠ;1†ঞˆ; bu;1|ouvv_o†Ѵ70;v†L1b;m|
-h;†ro= |o-‚u-1|-m7u;|-bm|_; bu;1|ouvm;;7;7|ou†m|_;olr-m‹v†11;vv=†ѴѴ‹ĺ
!;l†m;u-ঞom
ĺƑĺƐ !;l†m;u-ঞomr-1h-];vo= Compliant $_;!;l†m;u-ঞomollb‚;;-m7|_;
Š;1†ঞˆ; bu;1|ouv o-u7;mv†u;v|_-||_;‰_obv|_;
omѴ‹Š;1†ঞˆ; bu;1|ouom|_;
o-u7ķbvruoˆb7;7‰b|_-m-rruorub-|;
u;l†m;u-ঞomr-1h-];ĺ
ĺƑĺƑ olr-ubvomo=u;l†m;u-ঞom‰b|_ Compliant $_;!;l†m;u-ঞomollb‚;;1olr-u;v
other Companies |_;u;l†m;u-ঞomѴ;ˆ;Ѵvo=|_;1olr-m‹
‰b|_v†1_r-1h-];vo=1olr-u-0Ѵ;
1olr-mb;vbm|_;bm7†v|u‹-m7bvv;mvbঞˆ;
|o1_-m];vbm|_;u;l†m;u-ঞomѴ;ˆ;Ѵvĺ
 43
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

";1ঞom†l0;u olrѴb-m1; olr-m‹Ľollb|l;m|

"|-|†v
ĺƑĺѵ ;vb]mbm]r;u=oul-m1; Compliant 0f;1ঞˆ;v=ou|_;‰_obv|_;omѴ‹
ŋ0-v;7u;l†m;u-ঞomo=Š;1†ঞˆ; Š;1†ঞˆ; bu;1|ouom|_;o-u7ķ-u;
Directors v;|-||_;0;]bmmbm]o=|_;‹;-u|o-Ѵb]m
_bvbm|;u;v|v‰b|_|_ov;o=|_;1olr-m‹ĺ
11ou7bm]Ѵ‹ķ_bvu;l†m;u-ঞombm1Ѵ†7bm]|_;
performance bonus is decided based upon
|_;7;]u;;o=-1_b;ˆ;l;m|o=v†1_ru;Ŋv;|
|-u];|vĺ
ĺƑĺƕşĺƑĺѶ olr;mv-ঞom1ollb|l;m|vom Compliant $;ulbm-ঞomo=|_;Š;1†ঞˆ; bu;1|ou
;-uѴ‹|;ulbm-ঞom Őőbv]oˆ;um;70‹_bv1om|u-1|o=
v;uˆb1;ņ;lrѴo‹l;m|
ĺƑĺƖ !;l†m;u-ঞomo=omŋŠ;1†ঞˆ; Compliant omŊŠ;1†ঞˆ; bu;1|ouv-u;r-b7omѴ‹om
Directors |_;bu-‚;m7-m1;-|l;;ঞm]v

ĺƒ bv1Ѵov†u;o= $_;olr-m‹Ľvmm†-Ѵ!;rou|v_o†Ѵ71om|-bm-v|-|;l;m|o=!;l†m;u-ঞomroѴb1‹-m77;|-bѴv

!;l†m;u-ঞom o=!;l†m;u-ঞomo=|_;o-u7-v‰_oѴ;ĺ

ĺƒĺƐ bv1Ѵov†u;o=!;l†m;u-ঞom Compliant $_;-]]u;]-|;u;l†m;u-ঞomr-b7|o|_;

-m7momŊŠ;1†ঞˆ; bu;1|ouvbv
7bv1Ѵov;7omr-];ƐƐƏo=|_bvu;rou|ĺ$_;
!;l†m;u-ঞomollb‚;;Ľv!;rou|‰_b1_
_b]_Ѵb]_|v|_;u;l†m;u-ঞomroѴb1‹-||_;
1olr-m‹bv]bˆ;omr-];Ɠƕ
ĺ !;Ѵ-ঞomv‰b|_"_-u;oѴ7;uv
ĺƐ omv|u†1ঞˆ; o-u7vv_o†Ѵ7†v;|_;|o Ѵ;-v;u;=;ur-];Ɣƕ=ou7;|-bѴvo=|_;
†v;o=|_; 1oll†mb1-|;‰b|_v_-u;_oѴ7;uv mm†-Ѵ;m;u-Ѵ;;ঞm]
mm†-Ѵ;m;u-Ѵ -m7v_o†Ѵ7;m1o†u-];|_;bu
;;ঞm]Őő r-uঞ1br-ঞomĺ
-m7om7†1|o=
;m;u-Ѵ;;ঞm]
C.1.1 &v;o=uoŠ‹(o|;v Compliant The company has in place a mechanism
|o1o†m|-ѴѴruoŠ‹ˆo|;v|obm7b1-|;|o|_;
1_-bul-m|_;Ѵ;ˆ;Ѵo=ruoŠb;vѴo7];7om
;-1_u;voѴ†ঞom-m7|_;m†l0;uo=ˆo|;v
=ou-m7-]-bmv|v†1_u;voѴ†ঞomĺ
C.1.3 ˆ-bѴ-0bѴb|‹o=_-bul;mo=o-u7 Compliant $_;_-bul-mo=|_;o-u7;mv†u;v|_-|
ollb‚;;v-||_; |_;_-bul-mo=o-u7"†0Ŋ1ollb‚;;v
-u;ru;v;m|-||o-mv‰;u-m‹t†;u‹
0‹v_-u;_oѴ7;uvĺ
44 INSPIRING
GENERATIONS

Corporate Governance Report

";1ঞom†l0;u olrѴb-m1; olr-m‹Ľollb|l;m|

"|-|†v
C.1.4 7;t†-|;moঞ1;o=|_; $_;mm†-Ѵ!;rou||o];|_;u‰b|_moঞ1;
o=l;;ঞm]-m7u;Ѵ-|;77o1†l;m|v-m7
o|_;uu;voѴ†ঞomvb=-m‹bv1bu1†Ѵ-|;7|o
|_;v_-u;_oѴ7;uv-|Ѵ;-v|ƐƔ‰ouhbm]7-‹v
rubou|o|_;7-|;o=|_;ĺ$_;mm†-Ѵ
!;rou|ƑƏƐƓ‰-vv†0lb‚;7|o|_;"
omѵ|_rubѴƑƏƐƔ-m7‰-vrov|;7|o-ѴѴ
v_-u;_oѴ7;uv0‹ƑƓ|_-u1_ƑƏƐƔĺ$_;
‰-v_;Ѵ7omѵ|_-‹ƑƏƐƔ
C.1.5 "†ll-u‹o=ruo1;7†u;voˆ;umbm] $_;ruoŠ‹=oulķ‰_b1_bm1Ѵ†7;v-v†ll-u‹
ˆoঞm]-||_;;m;u-Ѵ;;ঞm]ĺ o=|_;ruo1;7†u;v]oˆ;umbm]ˆoঞm]-|
|_;;m;u-Ѵ;;ঞm]vķbv1bu1†Ѵ-|;7|o-ѴѴ
v_-u;_oѴ7;uvĺ
C.2 Major and ѴѴl-|;ub-Ѵ|u-mv-1ঞomvbĺ;‰_b1_b=;m|;u;7bm|oķ‰o†Ѵ7l-|;ub-ѴѴ‹-Ѵ|;uņˆ-u‹|_;m;|-vv;|ˆ-Ѵ†;
-|;ub-Ѵ o=|_;1olr-m‹v_o†Ѵ70;7bv1Ѵov;7ĺ
$u-mv-1ঞom
Disclosure or proposed major Not $_;u;‰;u;mol-fou|u-mv-1ঞomv7†ubm]
|u-mv-1ঞomv applicable |_;‹;-uķ_o‰;ˆ;ub=-m‹v†1_|u-mv-1ঞomv
do occur, it is the policy of the company to
disclose them in the Quarterly and Annual
bm-m1b-Ѵ"|-|;l;m|vbm-11ou7-m1;‰b|_
u;Ѵ;ˆ-m|" !"-m7|_;1olr-mb;v1|ĺ
D. Accountability and Audit
D.1 Financial $_;o-u7v_o†Ѵ7ru;v;m|-0-Ѵ-m1;7-m7†m7;uv|-m7-0Ѵ;-vv;vvl;m|o=|_;olr-m‹Ľv
!;rouঞm] Cm-m1b-Ѵrovbঞomķr;u=oul-m1;-m7ruovr;1|vĺ

D.1.1 o-u7u;vromvb0bѴb|‹=ouv|-|†|ou‹ Compliant $_;1olr-m‹ru;v;m|vb|vCm-m1b-Ѵ

-m7u;]†Ѵ-|ou‹u;rouঞm] v|-|;l;m|vbmѴbm;‰b|_"ub-mh-
11o†mঞm]"|-m7-u7vŐ" !"ő-m7o|_;u
-rrѴb1-0Ѵ;Ѵ-‰v-m7u;]†Ѵ-ঞomvĺ
D.1.2 ;1Ѵ-u-ঞomv0‹ bu;1|ouvbm|_; Compliant The Directors have made all required
bu;1|ouvĽu;rou|ĺ 7;1Ѵ-u-ঞomvbm|_;mm†-Ѵ!;rou|o=|_;
o-u7o= bu;1|ouvom|_;-@-buvo=|_;
1olr-m‹‰_b1_bv]bˆ;momr-];vƔƑ|oƔƕ
D.1.3 Statements by Directors and Compliant -];ѵƏ1om|-bmv|_;v|-|;l;m|v;মm]
Auditors on responsibility for o†||_;u;vromvb0bѴb|‹o=|_;o-u7=ou|_;
Cm-m1b-Ѵu;rouঞm] ru;r-u-ঞom-m7ru;v;m|-ঞomo= bm-m1b-Ѵ
"|-|;l;m|vĺ
D.1.4 -m-];l;m| bv1†vvbomm-Ѵ‹vbv Compliant $_;-m-];l;m|7bv1†vvbom-m7-m-Ѵ‹vbv
-u;-rr;-ubm]bmr-];vƐƓ|oƑƑĺ
 45
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

";1ঞom†l0;u olrѴb-m1; olr-m‹Ľollb|l;m|

"|-|†v
D.1.5 ;1Ѵ-u-ঞom0‹|_;o-u7om|_; Compliant $_;o-u7-[;u1om7†1ঞm]m;1;vv-u‹
]obm]1om1;umo=|_;0†vbm;vv u;ˆb;‰v-m7;mt†bu;v7;1b7;7|o-rrѴ‹|_;
ļ]obm]1om1;umĽ-vv†lrঞombmru;r-ubm]
the company’s Financial Statements for
|_;‹;-uƑƏƐƔĺ$_;7;1Ѵ-u-ঞomo=|_;
1olr-m‹-v-ļ]obm]1om1;umĽbv]bˆ;mbm
|_; bu;1|ouv!;rou|omr-];Ɣѵĺ
D.1.6 Requirement to summon an Not
Š|u-ou7bm-u‹;m;u-Ѵ;;ঞm] applicable
Őő|omoঞ=‹v;ubo†vѴovvo=
capital
D.2 Internal Controls $_;o-u7l-bm|-bmv-vo†m7v‹v|;lo=
bm|;um-Ѵ1om|uoѴv|ov-=;]†-u7v_-u;_oѴ7;uvĽ
bmˆ;v|l;m|v-m7|_;olr-m‹-vv;|vĺ
D.2.1 Directors to conduct an annual Compliant $_;o-u7_-voˆ;u-ѴѴu;vromvb0bѴb|‹=ou
u;ˆb;‰o=bm|;um-Ѵ1om|uoѴvĺ the system of internal controls and has
7;Ѵ;]-|;7vol;o=|_;v;u;vromvb0bѴbঞ;v|o
|_;†7b|ollb‚;;ĺ
D.2.2 The need for an internal audit Compliant $_;olr-m‹_-v-rrobm|;7v
=†m1ঞomĺ ub1;‰-|;u_o†v;oor;uvŐ)ő-v|_;
m|;um-Ѵ†7b|ouvo=|_;olr-m‹ĺѴѴ
reports by the Internal Auditors are tabled
-||_;†7b|ollb‚;;l;;ঞm]vĺ
D.3 †7b|ollb‚;; $_;o-u7_-v;v|-0Ѵbv_;7=oul-Ѵ-m7
|u-mvr-u;m|-uu-m];l;m|=ou1omvb7;ubm]
_o‰|_;‹v_o†Ѵ7v;Ѵ;1|-m7-rrѴ‹
-11o†mঞm]roѴb1b;vķCm-m1b-Ѵu;rouঞm]-m7
internal control principles and maintain an
-rruorub-|;u;Ѵ-ঞomv_br‰b|_|_;1olr-m‹
-†7b|ouvĺ
D.3.1 †ঞ;vo=|_;†7b|ollb‚;; Compliant $_;†7b|ollb‚;;lomb|ouv
-m7u;ˆb;‰v|_;Š|;um-Ѵ†7b|ouv
bm7;r;m7;m1;ķo0f;1ঞˆb|‹-m7|_;
;@;1ঞˆ;m;vvo=|_;-†7b|ruo1;vvķ|-hbm]
into account the relevant professional and
u;]†Ѵ-|ou‹u;t†bu;l;m|vĺ
D.3.2 †ঞ;vo=|_;†7b|ollb‚;; Compliant $_;†7b|ollb‚;;lomb|ouv
-m7u;ˆb;‰v|_;Š|;um-Ѵ†7b|ouv
bm7;r;m7;m1;ķo0f;1ঞˆb|‹-m7|_;
;@;1ঞˆ;m;vvo=|_;-†7b|ruo1;vvķ|-hbm]
into account the relevant professional and
u;]†Ѵ-|ou‹u;t†bu;l;m|vĺ
D.3.3 Terms of reference of the Audit Compliant $_;†7b|ollb‚;;or;u-|;v‰b|_1Ѵ;-uѴ‹
ollb‚;; 7;Cm;7|;ulvo=u;=;u;m1;‰_b1_-u;
u;ˆb;‰;7-mm†-ѴѴ‹ĺ
46 INSPIRING
GENERATIONS

Corporate Governance Report

";1ঞom†l0;u olrѴb-m1; olr-m‹Ľollb|l;m|

"|-|†v
D.3.4 Disclosure of names of the Compliant -l;vo= bu;1|ouv1olrubvbm]|_;†7b|
l;l0;uvo=|_;†7b|ollb‚;; ollb‚;;-u;v;|o†|omr-];ƓѶo=|_;
mm†-Ѵ!;rou|ĺ
D.4 o7;o=†vbm;vvom7†1|ş|_b1v olr-mb;vl†v|-7or|-o7;o=†vbm;vv
Conduct and Ethics for Directors and
;l0;uvo=|_;";mbou-m-];l;m||;-l
-m7l†v|ruolr|Ѵ‹7bv1Ѵov;-m‹‰-bˆ;uvo=
|_;1o7;0‹ bu;1|ouvouo|_;uvĺ
D.5 Corporate Governance Disclosure Directors should be required to disclose
|_;;Š|;m||o‰_b1_|_;1olr-m‹
addresses to establish principles and
ru-1ঞ1;vo=]oo71ourou-|;]oˆ;um-m1;ĺ
D.5.1 bv1Ѵov†u;o=1olrѴb-m1;‰b|_|_; Compliant -];ƒѶ|oƓѵv;|o†||_;l-mm;u-m7
ourou-|;oˆ;um-m1;o7;ĺ ;Š|;m||o‰_b1_|_;1olr-m‹_-v1olrѴb;7
‰b|_|_;rubm1brѴ;v-m7ruoˆbvbomvo=
|_;o7;o=;v|u-1ঞ1;omourou-|;
Governance issued jointly by the SEC and
|_;"ub-mh-ĺ
Ƒĺ "_-u;_oѴ7;uv
ĺ mvঞ|†ঞom-Ѵmˆ;v|ouv
ĺƐ "_-u;_oѴ7;u "_o†Ѵ7;mv†u;bmvঞ|†ঞom-Ѵv_-u;_oѴ7;uĽvˆoঞm]bm|;mঞomv-u;|u-mvѴ-|;7bm|oru-1ঞ1;
(oঞm]

ĺƑ ˆ-Ѵ†-ঞomom mvঞ|†ঞom-Ѵbmˆ;v|ouvv_o†Ѵ70;;m1o†u-];7|o]bˆ;7†;‰;b]_||o|_;u;Ѵ;ˆ-m|]oˆ;um-m1;

Governance -uu-m];l;m|v
bv1Ѵov†u;v
ĺ |_;umˆ;v|ouv
ĺƐ mˆ;vঞm]ņ m7bˆb7†-Ѵ"_-u;_oѴ7;uv-u;;m1o†u-];7|ov;;hbm7;r;m7;m|-7ˆb1;ombmˆ;vঞm]ou7bˆ;vঞm]
bˆ;vঞm] 7;1bvbomvĺ
Decisions
ĺƑ "_-u;_oѴ7;u ѴѴ"_-u;_oѴ7;uv-u;;m1o†u-];7|or-uঞ1br-|;-|mm†-Ѵ;m;u-Ѵ;;ঞm]-m71-v||_;buˆo|;vĺ
(oঞm]
 47
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

Remuneration Committee Report

olrovbঞomo=|_;ollb‚;;
$_;!;l†m;u-ঞomollb‚;;1omvbv|vo=Cˆ;l;l0;uv
o†|o=‰_ol=o†u-u;omŊŠ;1†ঞˆ;m7;r;m7;m|
bu;1|ouvĺ$_;!;l†m;u-ঞomollb‚;;1omvbv|vo=|_;
=oѴѴo‰bm]l;l0;uvĸ
!;l†m;u-ঞomoѴb1‹
$_;olr-m‹Ľvu;l†m;u-ঞomroѴb1‹-blv|o-‚u-1|
-m7u;|-bmt†-ѴbC;7-m7;Šr;ub;m1;7|;-lo=_b]_
1-Ѵb0;ul-m-];uv-m7ruo=;vvbom-Ѵv-m7u;‰-u7|_;bu
r;u=oul-m1;ĺ

uĺĺ,ĺ-vvbl Ŋ m7;r;m7;m|omŊŠ;1†ঞˆ; !;l†m;u-ঞomroѴb1‹o=|_;olr-m‹‰b|_u;]-u7

Director (Chairman of the to increments and bonus schemes is based on the
ollb‚;;ő r;u=oul-m1;l-m-];l;m|v‹v|;l-m7;ˆ-Ѵ†-ঞom
v‹v|;lvbmv|-ѴѴ;70‹|_;olr-m‹ĺm1;|_;
vĺ!o_bmbĺ Ŋ m7;r;m7;m|omŊŠ;1†ঞˆ;
u;l†m;u-ঞomroѴb1‹o=|_;olr-m‹ķ-vu;1oll;m7;7
Nanayakkara Director
0‹|_;ollb‚;;bv-rruoˆ;70‹|_;o-u7ķ|_;
uĺfb|ĺ7;"ĺ Ŋ m7;r;m7;m|omŊŠ;1†ঞˆ;
!;l†m;u-ঞomollb‚;;‰bѴѴ|_;m-rruoˆ;-m7
Jayaratne Director
u;1oll;m7|o|_;o-u7ķ|_;Cm-Ѵbv;7ruorov-Ѵv=ou|_;
uĺ$bvv-ĺ Ŋ m7;r;m7;m|omŊŠ;1†ঞˆ; ]u-mঞm]o=bm1u;l;m|v|o|_;h;‹v;mbouѴ;ˆ;Ѵv|-@ĺ
-m7-u-m-‹-h; Director
$_;!;l†m;u-ঞomollb‚;;|-h;bm|o-11o†m||_;
uĺmbm]m] Ŋ omŠ;1†ঞˆ; bu;1|ou r;u=oul-m1;o=|_;olr-m‹-m7Ѵom]|;ulv_-u;_oѴ7;u
u;|†umvķbm-ѴѴ|_;bu7;Ѵb0;u-ঞomvĺ
$_;0ub;=ruoCѴ;vo=|_;7bu;1|ouv-u;]bˆ;momr-];vѶ|o
ƐƐo=|_;mm†-Ѵ!;rou|ĺ

"1or;o=|_;ollb‚;;
$_;ollb‚;;7;Ѵb0;u-|;v-m7u;1oll;m7v|o|_; H. Z. Cassim
o-u7o= bu;1|ouvomu;l†m;u-ঞomr-1h-];vķ-mm†-Ѵ
_-bul-mŊ!;l†m;u-ঞomollb‚;;
bm1u;l;m|v-m70om†v;vr-b7|o|_;_b;=Š;1†ঞˆ;
L1;u-m7o|_;uv;mbouѴ;ˆ;Ѵv|-@ĺ$_;ollb‚;; 24th February 2016
bv-Ѵvou;vromvb0Ѵ;=ou|_;7;|;ulbm-ঞomo=|_;
1olr;mv-ঞomo=|_;Š;1†ঞˆ; bu;1|ouv-m7=;;vr-b7
|o|_;omŊŠ;1†ঞˆ; bu;1|ouv=our-uঞ1br-ঞom-|o-u7
l;;ঞm]vĺ
48 INSPIRING
GENERATIONS

Audit Committee Report

$_;†7b|ollb‚;;o=|_;ˆ;uv;-v!;-Ѵ|‹Ő;‹Ѵomőķ
-rrobm|;70‹-m7u;vromvb0Ѵ;|o|_;o-u7o= bu;1|ouvķ
1olrubv;v=o†um7;r;m7;m|omŊŠ;1†ঞˆ; bu;1|ouv-m7
-omŊŠ;1†ঞˆ; bu;1|ou-v=oѴѴo‰vĹ
uĺfb|7;"ĺ-‹-u-|m; ŋ m7;r;m7;m|omŊ
Š;1†ঞˆ; bu;1|ou
(Chairman of the
ollb‚;;ő
uĺ†vv;bm,†0bu;-vvbl ŋ m7;r;m7;m|omŊ
Š;1†ঞˆ; bu;1|ou
uĺ;Ѵˆbm+-ro_bm ŋ omŊŠ;1†ঞˆ;
Director
uvĺ!o_bmb-m-‹-hh-u- ŋ m7;r;m7;m|omŊ
Š;1†ঞˆ; bu;1|ou
uĺ$bvv--m7-u-m-‹-h; ŋ m7;r;m7;m|omŊ
Š;1†ঞˆ; bu;1|ou
!oѴ;o=|_;†7b|ollb‚;;
$_; †7b| ollb‚;;Ľv l-bm o0f;1ঞˆ; bv |o -vvbv| -m7
u;ru;v;m| |_; o-u7 o= bu;1|ouv bm 7bv1_-u]bm] b|v
u;vromvb0bѴbঞ;v 0‹ oˆ;uv;;bm] |_; Cm-m1b-Ѵ u;rouঞm]
ruo1;vv |o ;mv†u; 0-Ѵ-m1;ķ |u-mvr-u;m1‹ -m7 bm|;]ub|‹
o= r†0Ѵbv_;7 Cm-m1b-Ѵ bm=oul-ঞomķ oˆ;uv;; |_; bm|;um-Ѵ
-m7;Š|;um-Ѵ-†7b|ruo1;vvķu;ˆb;‰|_;;@;1ঞˆ;m;vv-m7
-7;t†-1‹ o= |_; bm|;um-Ѵ 1om|uoѴ -m7 ubvh l-m-];l;m|
ruo1;vvķ -vv;vvbm] |_; r;u=oul-m1; o= |_; bm|;um-Ѵ -m7
;Š|;um-Ѵ -†7b|ouvķ ;mv†ubm] bm7;r;m7;m1; -m7 ;mv†ubm]
1olrѴb-m1; ‰b|_ Ѵ-‰v -m7 u;]†Ѵ-ঞomv ‰_b1_ ;@;1|
Cm-m1b-Ѵu;rouঞm]-m70†vbm;vv1om7†1|ĺm=†ѴCѴѴbm]|_bv
uoѴ;ķ |_; †7b| ollb‚;; bv ;lro‰;u;7 |o ;Š-lbm;
|_; Cm-m1b-Ѵ u;1ou7v o= |_; olr-m‹ķ bm|;um-Ѵ -†7b|ouĽv
u;rou|v-m7o|_;u1oll†mb1-ঞomv-vm;1;vv-u‹bmou7;u
to ensure the Company adheres to accepted norms of
;|_b1-Ѵ]†b7;Ѵbm;vķu†Ѵ;v-m7u;]†Ѵ-ঞomvĺ

$_;_-bul-mo=|_;ollb‚;;uĺfb|7;"ĺ-‹-u-|m;ķ $_; †7b| ollb‚;; u;1oll;m7v |_; -rrobm|l;m|

-m bm7;r;m7;m| momŊ;Š;1†ঞˆ; bu;1|ouķ bv - Cm-m1; o= ;Š|;um-Ѵ -†7b|ouv ;mv†ubm] |_;bu bm7;r;m7;m1; -m7
ruo=;vvbom-Ѵ ‰b|_ oˆ;u ƑƔ ‹;-uv o= ov| †-ѴbC1-ঞom l-bm|-bmv-1Ѵov;ruo=;vvbom-Ѵu;Ѵ-ঞomv_br‰b|_|_;lĺ$_;
;Šr;ub;m1;ĺ ; bv - ;ѴѴo‰ l;l0;u o= |_; mvঞ|†|; o= ollb‚;;-Ѵvou;1oll;m7v|_;=;;vr-‹-0Ѵ;|o|_;lbm
_-u|;u;711o†m|-m|v o= "ub -mh- -m7 |_; mvঞ|†|; o= |_;;Š;1†ঞomo=|_;v;v;uˆb1;vĺ
_-u|;u;711o†m|-m|vo=&ĺĺ
 _-u|;u ‰-v -rruoˆ;7 -m7 -7or|;7 0‹ |_; o-u7 ;;ঞm]v
bm ;0u†-u‹ ƑƏƐƑ |o =oul-Ѵbv; |_; ollb‚;;Ľv $_;†7b|ollb‚;;_-vl;|=o†uŐƏƓőঞl;v7†ubm]|_;
u;vromvb0bѴbঞ;vbm;Š;u1bvbm]b|voˆ;uvb]_|uoѴ;bm|_;-u;-v ‹;-u;m7;7ƒƐ ;1;l0;uƑƏƐƔ-m7|_;-‚;m7-m1;‰-v
o=Cm-m1b-Ѵu;rouঞm]ķbm|;um-Ѵ1om|uoѴvķubvhl-m-];l;m| -v=oѴѴo‰vĹ
-m7u;]†Ѵ-|ou‹ņv|-|†|ou‹1olrѴb-m1;ĺ
uĺfb|7;"ĺ-‹-u-|m;ŋ_-bul-m ƓņƓ
$_;l;l0;uv_-ˆ;-‰;ѴѴŊ0-Ѵ-m1;70Ѵ;m7o=;Šr;ub;m1;bm
|_;1oll;u1b-Ѵv;1|ouvķCm-m1b-Ѵv;1|ouv-m7-†7b|v;1|ouvķ uĺ†vv;bm,†0bu;-vvbl ƓņƓ
real estate and real estate development sectors and uĺ+-ro_bm ƓņƓ
_-ˆ; 7bvrѴ-‹;7 _b]_ v|-m7-u7v o= bm|;]ub|‹ -m7 0†vbm;vv uvĺ!o_bmb-m-‹-hh-u- ƓņƓ
-1†l;mĺ $_;v; -‚ub0†|;v -m7 |_; ‰;-Ѵ|_ o= ;Šr;ub;m1; uĺ$bvv--m7-u-m-‹-h; ƓņƓ
-m7;Šrov†u;|_;‹0ubm]bmķ1om|ub0†|;|o|_;;@;1ঞˆ;m;vv
bm‰_b1_|_;ollb‚;;1-uub;vo†|b|v7†ঞ;vĺ $_;olr-m‹";1u;|-u‹=†m1ঞomv-v|_;";1u;|-u‹|o|_;
†7b|ollb‚;;ĺ;;ঞm]v‰;u;-‚;m7;70‹|_;uo†r
$_;ruoCѴ;vo=|_;l;l0;uv‰_b1_7;|-bѴ|_;bu0-1h]uo†m7 _b;=Š;1†ঞˆ;L1;u-m7uo†r_b;= bm-m1b-ѴL1;u
-m7ruo=;vvbom-Ѵ;Šr;ub;m1;-u;omr-];vѶ|oƐƐo=|_bv -m7 o|_;u v;mbou l-m-];l;m| l;l0;uv 0‹ bmˆb|-ঞomĺ
!;rou|ĺ $_; ruo1;;7bm]v o= |_; †7b| ollb‚;; -u; u;]†Ѵ-uѴ‹
u;rou|;7|o|_;o-u7ĺ
 49
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

Internal Audit uo†rķ‰_b1_l-‹_-ˆ;-0;-ubm]om|_;bm7;r;m7;m1;o=

$_; bm|;um-Ѵ -†7b| =†m1ঞom bv o†|vo†u1;7 |o
ub1;‰-|;u_o†v;oor;uvŐ)ő=ou-ѴѴ1olr-mb;vbm|_;
uo†r -v u;1oll;m7;7 0‹ |_; †7b| ollb‚;;ĺ $_;
o0v;uˆ-ঞomvo=|_;bm|;um-Ѵ-†7b|ouv-u;|-0Ѵ;7-||_;†7b|
ollb‚;;-m7|_;ollb‚;;bmˆb|;vu;ru;v;m|-ঞˆ;vo=
)|o7bv1†vvo0v;uˆ-ঞomv-m7u;1oll;m7-ঞomvl-7;
bm|_;buu;rou|vĺ
oѴѴo‰†r-m7blrѴ;l;m|-ঞomo=ru;ˆbo†v
bm|;um-Ѵ -†7b| u;1oll;m7-ঞomv -u; -Ѵvo 7bv1†vv;7 -m7
u;ˆb;‰;7 0‹ |_; ollb‚;; ‰b|_ ) u;ru;v;m|-ঞˆ;vĺ
$_; ollb‚;; -rru-bv;v |_; o-u7 om |_; v|-|†v -m7
-7;t†-1‹ o= bm|;um-Ѵ 1om|uoѴv -m7 |_; ;@;1ঞˆ;m;vv
|_;u;o=ĺ
$_; ollb‚;; bv o= |_; ˆb;‰ |_-| -7;t†-|; 1om|uoѴvķ
processes and procedures are in place to provide
u;-vom-0Ѵ; -vv†u-m1; |o |_; o-u7ķ |_-| |_; olr-m‹Ľv
-vv;|v -u; v-=;]†-u7;7 -m7 -7;t†-|; Cm-m1b-Ѵ u;rouঞm]
v‹v|;lv -u; bm rѴ-1;ĺ $_; bm|;um-Ѵ -†7b|ouĽv u;rou|v -u;
l-7;-ˆ-bѴ-0Ѵ;|o;Š|;um-Ѵ-†7b|ouv-v‰;ѴѴĺ
|_;buuoѴ;-v-†7b|ouvĺ
$_;ollb‚;;_-vu;1oll;m7;7|_;u;Ŋ-rrobm|l;m|o=
;vvuvĺumv|ş+o†m]-v†7b|ouv=ou|_;Cm-m1b-Ѵ‹;-u
;m7bm] ƒƐ ;1;l0;u ƑƏƐѵķ -| - =;; |o 0; 7;|;ulbm;7
0‹|_;o-u7o= bu;1|ouvķv†0f;1||o|_;-rruoˆ-Ѵ0‹|_;
v_-u;_oѴ7;uv-||_;mm†-Ѵ;m;u-Ѵ;;ঞm]ĺ
Conclusion
$_; ollb‚;; bv v-ঞvC;7 |_-| |_; olr-m‹Ľv bm|;um-Ѵ
1om|uoѴv -u; ;@;1ঞˆ;Ѵ‹ blrѴ;l;m|;7 -v 7;vb]m;7ķ -m7
|_-| |_; olr-m‹Ľv -vv;|v -u; -7;t†-|;Ѵ‹ v-=;]†-u7;7ĺ
$_;olr-m‹Ľvm|;um-Ѵ-m7Š|;um-Ѵ†7b|ouv_-ˆ;0;;m
;@;1ঞˆ;-m7bm7;r;m7;m||_uo†]_o†||_;‹;-uĺ
$_; ollb‚;; bv -Ѵvo v-ঞvC;7 |_-| |_; or;u-ঞom-Ѵ
1om|uoѴv -m7 |_; -rrѴb1-ঞom o= -rruorub-|; -11o†mঞm]
roѴb1b;v ruoˆb7; u;-vom-0Ѵ; -vv†u-m1; |_-| |_; Cm-m1b-Ѵ
v|-|;l;m|vo=|_;olr-m‹-u;|u†;-m7=-buĺ

uor;u|‹(-Ѵ†-ঞom
m bm7;r;m7;m| _-u|;u;7 (-Ѵ†-ঞom "†uˆ;‹ou uĺ  
-Ѵ†]-Ѵ-];7-u-_-v1om7†1|;7|_;-mm†-Ѵˆ-Ѵ†-ঞomo=|_;
mˆ;v|l;m| uor;u|‹ o= |_; uo†rĺ $_; ollb‚;; _-v fb|ĺ7;"ĺ-‹-u-|m;
7bv1†vv;7-m7†m7;uv|oo7|_;ˆ-Ѵ†-ঞoml;|_o7-m7|_;
_-bul-mŊ†7b|ollb‚;;
-vv†lrঞomv†v;7bm|_;7;|;ulbm-ঞomo=|_;=-buˆ-Ѵ†;o=
24th February 2016
mˆ;v|l;m|uor;u|‹ĺ

External Audit
$_;olr-m‹_-v-rrobm|;7umv|ş+o†m]-vb|v;Š|;um-Ѵ
-†7b|ou-m7|_;v;uˆb1;vruoˆb7;70‹|_;l-u;v;]u;]-|;7
0;|‰;;m -†7b|ņ-vv†u-m1; v;uˆb1;v -m7 o|_;u -7ˆbvou‹
v;uˆb1;v v†1_ -v |-Š 1omv†Ѵ|-m1‹ĺ $_; †7b| ollb‚;;
u;ˆb;‰v |_;v; -†7b| -m7 momŊ-†7b| =†m1ঞomv o= |_;
Š|;um-Ѵ †7b|ouv 0;=ou; v†1_ v;uˆb1;v -u; -vvb]m;7 bm
order to ensure that the provisions of such services does
mo| blr-bu bm7;r;m7;m1; -m7 |_-| ‰ouh bv -vvb]m;7 bm
v†1_-l-mm;u-v|oru;ˆ;m|-m‹1omYb1|o=bm|;u;v|ĺ

$_;†7b|ollb‚;;_-vu;ˆb;‰;7-m77bv1†vv;7|_;h;‹
o0v;uˆ-ঞomv-m7u;1oll;m7-ঞomvom|_;-m-];l;m|
;‚;u bvv†;7 0‹ umv| ş+o†m] bm |_; ru;v;m1; o= |_;bu
u;ru;v;m|-ঞˆ;vĺ

umv|ş+o†m]_-v-Ѵvobvv†;7-7;1Ѵ-u-ঞom-vu;t†bu;70‹
|_;olr-mb;v1|oĺƕo=ƑƏƏƕķ|_-||_;‹7omo|_-ˆ;
-m‹u;Ѵ-ঞomv_broubm|;u;v|bm-m‹o=|_;1olr-mb;vbm|_;
50
50

mm†-Ѵ!;rou|o=|_;o-u7o= bu;1|ouvņ52
bu;1|ouvķ"|-|;l;m|omm|;um-Ѵom|uoѴvņ58
bu;1|ouvĽ!;vromvb0bѴb|‹=ou bm-m1b-Ѵ!;rouঞm]ņ60
m7;r;m7;m|†7b|ouĽv!;rou|ņ61
"|-|;l;m|o= bm-m1b-Ѵovbঞomņ62
"|-|;l;m|o=uoC|ouovvņ63
"|-|;l;m|o=olru;_;mvbˆ;m1ol;ņ64
"|-|;l;m|o=_-m];vmt†b|‹ņ65
"|-|;l;m|o=-v_ Ѵo‰vņ66
o|;v|o|_; bm-m1b-Ѵ"|-|;l;m|vņ67

FINANCIAL uo†r;u=oul-m1;Ŋ$;m+;-u"†ll-u‹ņ118
"_-u;_oѴ7;um=oul-ঞomņ120

REPORTS uo†r-m7ouoѴboņ124
oঞ1;o=;;ঞm]ņ125
FINANCIAL CALENDER
Interim Financial Statements Target set for 2016 Achievement in 2015

Ɛv| †-u|;uŐƒƐv|-u1_ő rubѴŊƐѵ 07th May 2015

Ƒm7 †-u|;uŐƒƏ|_†m;ő July-16 30th July 2015
ƒu7 †-u|;uŐƒƏ|_";r|;l0;uő 1|o0;uŊƐѵ ƑƖ|_1|o0;uƑƏƐƔ
Ɠ|_ †-u|;uŐƒƐv| ;1;l0;uő January-17 25th February 2016

mm†-Ѵ!;rou|-m7 bm-m1b-Ѵ"|-|;l;m|v|o"_-u;_oѴ7;uv

2014 24th March 2015

2015 March 2016

bˆb7;m7v

buv|-m7 bm-Ѵ bˆb7;m7-m7Ƒm7 bm-Ѵ bˆb7;m7=ouƑƏƐƓ 07th May 2015

buv|-m7 bm-Ѵ bˆb7;m7=ouƑƏƐƔ Ƒѵ|_rubѴƑƏƐѵ

ƒƒu7mm†-Ѵ;m;u-Ѵ;;ঞm] 6th May 2015

ƒƓ|_mm†-Ѵ];m;u-Ѵ;;ঞm] ƑƔ|_rubѴƑƏƐѵ
52 INSPIRING
GENERATIONS

Annual Report of the Board of Directors

General !;rou|ĺ $_; †7b|;7 bm-m1b-Ѵ "|-|;l;m|v -u; ]bˆ;m om

r-];v ѵƐ |o ƐƐƕ o= |_; mm†-Ѵ !;rou|ĺ $_;v; u;rou|v
$_; o-u7 o= bu;1|ouv _-v rѴ;-v†u; bm ru;v;mঞm] |_;bu
|o];|_;uu;Y;1||_;v|-|;o=-@-buvo=|_;olr-m‹-m7
u;rou|om|_;-@-buvo=|_;olr-m‹|o];|_;u‰b|_|_;
b|vv†0vb7b-ub;v7†ubm]|_;r;ubo7†m7;uu;ˆb;‰ĺ
audited Financial Statements of Overseas Realty (Ceylon)
PLC and the audited Consolidated Financial Statements of
|_;uo†r=ou|_;‹;-u;m7;7ƒƐv| ;1;l0;uƑƏƐƔĺ$_; Financial Statements
7;|-bѴv v;| o†| _;u;bm ruoˆb7; |_; r;uঞm;m| bm=oul-ঞom The Financial Statements of the Company and the Group
u;t†bu;7 †m7;u ";1ঞom ƐѵѶ o= |_; olr-mb;v 1| oĺ -u;]bˆ;momr-];vѵƑ|oƐƐƕĺ
Əƕ o= ƑƏƏƕķ |_; oѴol0o "|o1h Š1_-m]; bvঞm] !†Ѵ;v
-m7 |_; u;1oll;m7;7 0;v| ru-1ঞ1;v om ourou-|;
†7b|ouvĽ!;rou|
oˆ;um-m1;ĺ
The Auditors’ Report on the Financial Statements of the
Overseas Realty (Ceylon) PLC is a Public Listed Company olr-m‹-m7|_;uo†rbv]bˆ;momr-];ѵƐĺ
‰b|_ Ѵblb|;7 Ѵb-0bѴb|‹ķ bm1ourou-|;7 bm "ub -mh- om ƑѶ|_
1|o0;uķ ƐƖѶƏ -m7 u;Ŋu;]bv|;u;7 †m7;u |_; olr-mb;v
11o†mঞm]oѴb1b;v
1|oĺƏƕo=ƑƏƏƕĺ
$_; "b]mbC1-m| -11o†mঞm] roѴb1b;v -7or|;7 bm |_;
ru;r-u-ঞom o= |_;
bm-m1b-Ѵ "|-|;l;m|v -u; ]bˆ;m om
ubm1br-Ѵ1ঞˆbঞ;v
r-];vѵƕ|oѶƒĺ
$_; rubm1br-Ѵ -1ঞˆbঞ;v o= |_; olr-m‹ 7†ubm] |_; ‹;-u
1omঞm†;7 |o 0; ruor;u|‹ Ѵ;-vbm]ķ ruor;u|‹ |u-7bm]ķ -m7 $_; Cm-m1b-Ѵ v|-|;l;m|v o= |_; olr-m‹ _-ˆ; 0;;m
ruoˆbvbomo=ruor;u|‹v;uˆb1;vĺ$_;u;‰;u;movb]mbC1-m| ru;r-u;7 bm -11ou7-m1; ‰b|_ "ub -mh- 11o†mঞm]
1_-m];vbm|_;m-|†u;o=rubm1br-Ѵ-1ঞˆbঞ;vo=|_;olr-m‹ "|-m7-u7vŐ"
!"ņ"ő-vbvv†;70‹"ub-mh-ĺ
-m7b|vv†0vb7b-ub;v7†ubm]|_;Cm-m1b-Ѵ‹;-u†m7;uu;ˆb;‰ĺ
uo†r$†umoˆ;u
bu;h- -rb|-Ѵ -m7 Őˆ|ő |7 bv - v†0vb7b-u‹ o= |_;
olr-m‹ ‰_b1_ _-v †m7;u|-h;m |_; 7;ˆ;Ѵorl;m| o= $_;|†umoˆ;uo=|_;uo†r7†ubm]|_;‹;-u†m7;uu;ˆb;‰
|_; ľ-ˆ;Ѵo1h b|‹Ŀ uof;1| -m7 ruoˆb7bm] bm=u-v|u†1|†u; ‰-v !vĺ ƒķƐƓƏķѵѵѵķƐƐƐņŊ ŐƑƏƐƓ Ŋ !vĺ ѵķƐƖƕķƕƐƔķƏƑƕņŊőĺ
=-1bѴbঞ;v |o |_; ruof;1|ĺ $_; 7;ˆ;Ѵorl;m| o= u;vb7;mঞ-Ѵ  7;|-bѴ;7 -m-Ѵ‹vbv o= |_; uo†rĽv |†umoˆ;uķ ruoC|v -m7
-r-u|l;m|v bv †m7;u|-h;m 0‹ bu;h- ol;v Őˆ|ő |7ķ - -vv;|-ѴѴo1-ঞomu;Ѵ-ঞm]|o|_;7b@;u;m|v;]l;m|vo=|_;
=†ѴѴ‹ o‰m;7 v†0vb7b-u‹ o= bu;h- -rb|-Ѵ -m7 Őˆ|ő |7ĺ 0†vbm;vvbv]bˆ;mbmo|;ƒ|o|_;
bm-m1b-Ѵ"|-|;l;m|vĺ
-ˆ;Ѵo1h b|‹ Őˆ|ő |7 ‰bѴѴ †m7;u|-h; |_; 7;ˆ;Ѵorl;m|
o= |_; oll;u1b-Ѵ 1olrom;m| o= |_; ľ-ˆ;Ѵo1h b|‹Ŀ
bm-m1b-Ѵ!;v†Ѵ|v-m7 bˆb7;m7
ruof;1|ĺ !;-Ѵ|‹ -m-];l;m| ";uˆb1;v Őˆ|ő |7 ruoˆb7;v
$_; uo†r u;1ou7;7 - 1omvoѴb7-|;7 m;| ruoC| o= !vĺ
ruor;u|‹v;uˆb1;vķ-m7|u-7bm]o=Ѵb]_ঞm]voѴ†ঞomvĺ
ƒķƏƒƏķѶƔƒķƓƑƕņŊ ŐƑƏƐƓ ŋ !vĺ ƒķƒƒƔķƖƒѵķƏƕƕņŊő =ou |_;
‹;-uĺ$_;omvoѴb7-|;7m1ol;"|-|;l;m|-Ѵom]‰b|_|_;
!;ˆb;‰o=†vbm;vv olr-m‹Ľv m1ol; "|-|;l;m| =ou |_; ‹;-u bv ]bˆ;m om
u;ˆb;‰o=Cm-m1b-Ѵ-m7or;u-ঞom-Ѵr;u=oul-m1;o=|_; r-];ѵƒĺ
olr-m‹ -m7 b|v v†0vb7b-ub;v 7†ubm] |_; ‹;-uķ -m7 |_;
future developments of the Company is contained in $_; bu;1|ouv u;1oll;m7;7 |_; r-‹l;m| o= - Cuv| -m7
|_;
bm-m1b-Ѵ!;ˆb;‰Ő-];vƑƏ|oƑƑő-m7-m-];l;m| Cm-Ѵ 7bˆb7;m7 o= !vĺ ƐĺƏƏ r;u v_-u; -m7 - v;1om7 Cm-Ѵ
!;ˆb;‰ o= r;u-ঞomv Őr-];v ƐƓ |o ƐƖő o= |_bv mm†-Ѵ 7bˆb7;m7 o= !vĺ ƏĺƔƏ r;u v_-u; =ou |_; Cm-m1b-Ѵ ‹;-u

OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015
;m7;7 ƒƐv| ;1;l0;u ƑƏƐƓ ‰_b1_ ‰-v -rruoˆ;7 0‹
|_; v_-u;_oѴ7;uv -| |_; mm†-Ѵ ;m;u-Ѵ ;;ঞm] o= |_;
olr-m‹_;Ѵ7omƏѵ|_-‹ƑƏƐƔĺ
bm-m1b-Ѵ"|-|;l;m|vĺ
$_;7bˆb7;m7‰-vr-b7o†|o=|-Š=u;;ruoC|vķ-v;Š;lr|
=uol|-Šbm|;ulvo=|_;1om1;vvbomv]u-m|;7|o|_;
olr-m‹ĺ
| |_; l;;ঞm] o= |_; o-u7 o= bu;1|ouv _;Ѵ7 om ƑƔ|_
bm-m1b-Ѵ"|-|;l;m|vĺ
February 2016, the Directors recommended the payment
o=-Cuv|-m7Cm-Ѵ7bˆb7;m7o=!vĺƐĺƔƏņŊr;uou7bm-u‹v_-u;
=ou |_; Cm-m1b-Ѵ ‹;-u ;m7;7 ƒƐv| ;1;l0;u ƑƏƐƔ |o
be approved by the Shareholder at the Annual General
;;ঞm]o=|_;olr-m‹|o0;_;Ѵ7omƑƔ|_rubѴƑƏƐѵĺ
bu;1|ouv _-ˆ; 1omCul;7 |_-| |_; olr-m‹ v-ঞvC;7
bm-m1b-Ѵ"|-|;l;m|vĺ
|_; "oѴˆ;m1‹ |;v| u;t†bu;l;m| †m7;u v;1ঞom Ɣѵ o= |_;
olr-mb;v1|oĺƏƕo=ƑƏƏƕ-m7|_;voѴˆ;m1‹u;rou|
‰-vo0|-bm;7=uol|_;-†7b|ouvĺ
uor;u|‹ķѴ-m|şt†brl;m|
-rb|-Ѵ;Šr;m7b|†u;7†ubm]|_;‹;-uķomruor;u|‹rѴ-m|ş
equipment by the Group and by the Company amounted
|o!vĺƒƔķƖƒƖķѶƖƔņŊŐƑƏƐƓŊ!vĺƐƑѵķƒƒƖķƓƐƔņŊő-m7!vĺ
ƐѵķƔƔƕķƖƐƑņŊŐƑƏƐƓŊ!vĺƖķѵѶѶķƑƐƑņŊőu;vr;1ঞˆ;Ѵ‹ĺ$_;
1-uu‹bm]ˆ-Ѵ†;o=|_;uor;u|‹ķѴ-m|-m7t†brl;m|o=|_;
bm-m1b-Ѵ"|-|;l;m|vomr-];ѵƔĺ
uo†r-m7|_;olr-m‹-v-||_;u;rouঞm]7-|;-lo†m|;7
|o!vĺƐķƔƖѶķƐƏƔķƓƏƕņŊŐƑƏƐƓŊ!vĺƐķƔƔƖķƐƐƐķƓƏƖņŊő-m7
!vĺƒѵƒķƖƒƓķѶѵƔŐƑƏƐƓŊ!vĺƒƒѶķƓƔѵķƐƔƏņŊőu;vr;1ঞˆ;Ѵ‹ĺ
m -m-Ѵ‹vbv o= |_; ruor;u|‹ rѴ-m| ş ;t†brl;m| o= |_;
olr-m‹ķ-77bঞom-m77bvrov-Ѵl-7;ķ|o];|_;u‰b|_|_;
7;ru;1b-ঞom1_-u];=ou|_;‹;-uķbvv;|o†|bmo|;ѵ|o
|_;
bm-m1b-Ѵ"|-|;l;m|vomr-];ѶѶĺ the Company and its subsidiaries, as may be decided by
-uh;|(-Ѵ†;o=|_;†bѴ7bm]
ѴѴ |_; 0†bѴ7bm]v o‰m;7 0‹ |_; uo†r ‰;u; v†0f;1|;7
|o - u;ˆ-Ѵ†-ঞom 0‹ -m bm7;r;m7;m| t†-ѴbC;7 ˆ-Ѵ†;uĺ
$_; 1-uu‹bm] ˆ-Ѵ†; o= |_; 0†bѴ7bm] o= |_; uo†r bv !vĺ
ƐķƏѵƑķƕƓƐķƓƕƑ ŐƑƏƐƓ Ŋ !vĺ ƐķƏƓѵķƐѶƔķƒƒƔőĺ $_; 7;|-bѴv
-u;ruoˆb7;7bmo|;ѵĺƐ|o|_;
bm-m1b-Ѵ"|-|;l;m|vĺ price of the shares of the Company thirty (30) days prior to
-bu(-Ѵ†;o=mˆ;v|l;m|uor;uঞ;v
$_; =-bu ˆ-Ѵ†; o= mˆ;v|l;m| ruor;uঞ;v o‰m;7 0‹ |_;
Group as at 31st December 2015 is included in the
bm-m1b-Ѵ"|-|;l;m|v-|!vĺƑƑķƔƕƖķƓƐƏķƖƖƕņŊŐƑƏƐƓŊ!vĺ
ƑƐķƓƏƓķѶƕƑķѶƏƕņŊő0-v;7om|_;m7;r;m7;m|ˆ-Ѵ†-ঞomv
53
†m7;u|-h;m 0‹ |_; _-u|;u;7 (-Ѵ†-ঞom "†uˆ;‹;u bm
;1;l0;u ƑƏƐƔĺ $_; bu;1|ouv -u; o= |_; orbmbom |_-|
|_;ˆ-Ѵ†;bvmo|bm;Š1;vvo=|_;1†uu;m|l-uh;|ˆ-Ѵ†;ĺ$_;
7;|-bѴv-u;ruoˆb7;7bmo|;Ɣ|o|_;
Investments
The details of investments held by the Company are
7bv1Ѵov;7bmo|;Ѷomr-];ƖƓo=|_;
"|-|;7-rb|-Ѵ-m7!;v;uˆ;v
The total stated capital of the Company amounts to
!vĺ ƐƐķƐѵƑķƕƔƐķƔƐƒņŊ ŐƑƏƐƓ Ŋ !vĺ ƐƏķƐѶѵķƏѶƔķƓƏƔņŊő
1olrubvbm]!vѶѶƕķѶƕѶķƑƕƒŐƑƏƐƓŊ!vѶƓƒķƓѶƓķƒƔƖőķ-v
]bˆ;mbmmo|;Ɛƒ|o|_;
The shareholders of Overseas Realty Ceylon PLC approved
|obvv†;ƓƓķƒƖƒķƖƐƓu7bm-u‹"_-u;vbm|_;ruorouঞomo=
one (1) Ordinary Share for every nineteen (19) Ordinary
"_-u;vbm|_;1-rb|-Ѵo=|_;olr-m‹0‹‰-‹o=-!b]_|v
vv†;ķ-|-rub1;o=!†r;;v$‰;m|‹$‰oŐ!vĺƑƑņŊőr;uv_-u;ĺ
$o|-Ѵuo†r!;v;uˆ;v-v-|ƒƐv| ;1;l0;uƑƏƐƔ‰-v!vĺ
ƐƕķƓƓƑķƑƓƒķƐѶƔņŊ ŐƑƏƐƓ Ŋ!vĺ ƐƔķƕƓƑķƓƒƑķƏƖƔņŊőĺ $_;
loˆ;l;m|o=|_;v;u;v;uˆ;vbvv_o‰mbm|_;"|-|;l;m|o=
_-m];vbmt†b|‹bm|_;
lrѴo‹;;"_-u;rঞom"1_;l;
||_;Š|u-ou7bm-u‹;m;u-Ѵ;;ঞm]o=|_;olr-m‹_;Ѵ7
omƑƓ|_-‹ƑƏƐƑ|_;;v|-0Ѵbv_l;m|-m7blrѴ;l;m|-ঞom
o= -m ;lrѴo‹;; v_-u; orঞom rѴ-m Őľ"Ŀő |o bvv†; |o
|_; ;Š;1†ঞˆ; 7bu;1|ouv -m7 ;Š;1†ঞˆ;v ;lrѴo‹;7 0‹
|_; o-u7 ‰-v -rruoˆ;7ĺ " ‰_b1_ ‰bѴѴ ;mঞ|Ѵ; v†1_
;lrѴo‹;;v -m7 Š;1†ঞˆ; bu;1|ouv |o v†0v1ub0; |o -m7
r†u1_-v; v_-u;v o@;u;7 0‹ |_; olr-m‹ |o|-Ѵbm] |o
ƑƔķƒƏƔķƔƒƏ-lo†mঞm]|oƒѷo=|_;bvv†;7v_-u;vbm|_;
olr-m‹ Őľ|_; rঞomvĿő -| -m ;Š;u1bv; rub1; 0;bm] |_;
l-uh;|rub1;o=|_;v_-u;vo=|_;olr-m‹-||_;ঞl;o=
]u-mঞm] o= |_; rঞom ou |_;ˆoѴ†l;‰;b]_|;7 -ˆ;u-];
|_;]u-m|o=|_;rঞom‰_b1_;ˆ;ubv_b]_;uķ‰-v-rruoˆ;7
-||_;_;Ѵ7omƑƓ|_-‹ƑƏƐƑĺ
$_;rঞom‰-vmo|]u-m|;7|o-m‹1-|;]ou‹o=;lrѴo‹;;v
o=|_;olr-m‹7†ubm]|_;Cm-m1b-Ѵ‹;-u†m7;uu;ˆb;‰ĺ
54 INSPIRING
GENERATIONS

Annual Report of the Board of Directors

o-u7o= bu;1|ouv †7b|ollb‚;;

$_;o-u7o= bu;1|ouvo=|_;olr-m‹1omvbv|vo=;Ѵ;ˆ;m fb|-_;m7u- ;"bѴˆ--‹-u-|m;Ő_-bul-mő
bu;1|ouv -v -| |_; ;m7 o= |_; Cm-m1b-Ѵ ‹;-u -m7 |_;bu †vv;bm,†0bu;-vvbl
ruoCѴ;v-u;omr-];vѶ|oƐƐĺ
;Ѵˆbm+-ro_bm
$_;0-vbvom‰_b1_ bu;1|ouv-u;1Ѵ-vvbC;7-vbm7;r;m7;m| !o_bmb;ঞঞ--m-‹-hh-u-
omŊŠ;1†ঞˆ; bu;1|ouv bv 7bv1†vv;7 bm |_; ourou-|; $bvv-†l-u--m7-u-m-‹-h;
oˆ;um-m1;!;rou|ĺ
!;l†m;u-ঞomollb‚;;
uĺmbm]m]u;ঞu;v0‹uo|-ঞombm|;ulvo=uঞ1Ѵ;ƑƖ
o= |_;uঞ1Ѵ; o=vvo1b-ঞom o= |_; 1olr-m‹ķ -m7 0;bm] †vv;bm,†0bu;-vvblŐ_-bul-mő
;Ѵb]b0Ѵ;_-vo@;u;7_blv;Ѵ==ouu;Ŋ;Ѵ;1ঞomĺ fb|-_;m7u- ;"bѴˆ--‹-u-|m;
!o_bmb;মঞ--m-‹-hh-u-
$_;ruorov;7u;voѴ†ঞomvruorov;v|_-||_;-];Ѵblb|o=
ƕƏ‹;-uvu;=;uu;7|obm";1ঞomƑƐƏo=|_;olr-mb;v1| mbm]m]
oĺƏƕo=ƑƏƏƕv_-ѴѴmo|-rrѴ‹|ouĺ"_bm];;$-o‰_o $bvv-†l-u--m7-u-m-‹-h;
-‚-bm;7|_;-];o=ƕƏ‹;-uvomƑƔ|_ ;1;l0;uƐƖѶѵķuĺ
†vv-bm,†0bu;-vvbl‰_o-‚-bm;7|_;-];o=ƕƏ‹;-uv Interest Register
omƖ|_";r|;l0;uƐƖƖƔķuvĺ!o_bmb;মঞ--m-‹-hh-u-ķ
$_; olr-m‹ l-bm|-bmv -m m|;u;v| !;]bv|;u -v r;u |_;
‰_o-‚-bm;7|_;-];o=ƕƏ‹;-uvomƐƑ|_rubѴƑƏƏѵķuĺ
olr-mb;v 1| oĺ Əƕ o= ƑƏƏƕĺ $_; bu;1|ouv o= |_;
fb| -_;m7uv ; "bѴˆ--‹-u-|m;ķ‰_o -‚-bm;7 |_; -];
olr-m‹_-ˆ;7†Ѵ‹7;1Ѵ-u;7|_;bm=oul-ঞom-vruoˆb7;7
o= ƕƏ ‹;-uv om ƒƏ|_ rubѴ ƑƏƐƏķ uĺ +-r o_ bmķ ‰_o
=ou bm v;1ঞom ƐƖƑ ŐƑő o= |_; olr-mb;v 1| oĺ Əƕ o=
-‚-bm;7|_;-];o=ƕƏ‹;-uvomƑm7 ;0u†-u‹ƑƏƐƐķuĺ
ƑƏƏƕ -m7 |_; 7;1Ѵ-u-ঞomv l-7; ‰;u; |-0Ѵ;7 =ou |_;
$bvv-†l-u--m7-u-m-‹-h;ķ‰_o-‚-bm;7|_;-];o=ƕƏ
bm=oul-ঞom o=  |_; bu;1|ouv -m7 |_; ;m|ub;v bm |_;
‹;-uvomƒu7-m†-u‹ƑƏƐƒķuĺ;vѴ;b!-Ѵr_ ;-m;uoѴѴ;ķ
m|;u;v|!;]bv|;u‰;u;l-7;-m7ņou†r7-|;7-11ou7bm]Ѵ‹ĺ
‰_o -‚-bm;7 |_; -]; o= ƕƏ‹;-uv om Ɣ|_-m†-u‹ ƑƏƐƒ
$_;m|;u;v|!;]bv|;ubvh;r|-||_;u;]bv|;u;7oL1;o=|_;
-m7|_-||_;‹0;u;Ŋ;Ѵ;1|;7-v- bu;1|ouo=|_;olr-m‹ĺ
olr-m‹ĺ

o-u7"†0ollb‚;;v
bu;1|ouvĽm|;u;v|bm"_-u;v
$_;o-u7o= bu;1|ouvo=|_;olr-m‹_-v=oul;7|_;
$_;"_-u;_oѴ7bm]vo=|_; bu;1|ouvo=|_;olr-m‹-||_;
=oѴѴo‰bm] v†0 1ollb‚;;v -m7 =oѴѴo‰bm] l;l0;uv v;uˆ;
0;]bmmbm]-m7-||_;;m7o=|_;‹;-u‰-v-v=oѴѴo‰vĹ
om |_; o-u7 "†0 ollb‚;;vĺ ;|-bѴv o= o-u7 "†0Ŋ
ollb‚;; l;;ঞm]v Ő!;l†m;u-ঞom ollb‚;;ķ †7b|
ollb‚;;ő-u;ru;v;m|;7omr-];vƓƕşƓƖĺ
 55
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

31st December 2014 31st December 2015

-l;o= bu;1|ou Direct Deemed Direct Deemed
Interest Interest Interest interest

u"$-o Nil 695,096,518* Nil 732,335,424*

uvbѴ7u;7$-om] Nil 474,940,030* Nil 500,384,334*
u;Ѵˆbm+-ro_bm Nil 474,940,030* Nil 500,384,334*
umbm]m] 380,000 Nil 400,000 Nil
u,-vvbl Nil Nil Nil Nil
u ;"-‹-u-|m; Nil Nil Nil Nil
u!7;-m;uoѴѴ; Nil Nil Nil Nil
uv!-m-‹-hh-u- Nil Nil Nil Nil
u$-m7-u-m-‹-h; Nil Nil Nil Nil
Dr Ranee Jayamaha Nil Nil Nil Nil
uu-ˆbu"-l-u-vbm]_; Nil Nil Nil Nil

Ŗ$_;7;;l;7bm|;u;v|vbmv_-u;v-v7;1Ѵ-u;70‹uĺ"$-obv-v-7bu;1|ouo="_bm]‰-muo†rbm1Ѵ†7bm]&mb|‹†bѴ7;uvblb|;7-m7uvĺbѴ7u;7
$-om]bv-v-7bu;1|ouo=|_;"_bm]‰-muo†ro="bm]-rou;‰_o_oѴ7vl-foub|‹v_-u;_oѴ7bm]vo=|_;olr-m‹ĺuĺ;Ѵˆbm+-ro_bmĽv7;;l;7
bm|;u;v|bmv_-u;vbv7;1Ѵ-u;7-v|_;vro†v;o=-7bu;1|ouo=|_;v-b7"_bm]‰-muo†rĺ

!;Ѵ-|;7-u|‹$u-mv-1ঞomv bu;1|ouv_br_;Ѵ7bm|_;umঞঞ;v

$_;7bv1Ѵov†u;vl-7;0‹|_;7bu;1|ouvo=|_;uo†r‰b|_
u;]-u7|ou;Ѵ-|;7r-u|‹|u-mv-1ঞomv-u;]bˆ;mbmmo|;Ƒѵ
|o |_;
bm-m1b-Ѵ "|-|;l;m|v =oulbm] r-u| o= |_; mm†-Ѵ
!;rou|o=|_;o-u7o= bu;1|ouvĺ
bu;1|ouvĽm|;u;v|bm$u-mv-1ঞomv
$_; bu;1|ouv o= |_; olr-m‹ _-ˆ; l-7; - ];m;u-Ѵ
7bv1Ѵov†u; bm |;ulv o= v;1ঞom ƐƖƑŐƑő o= |_; olr-mb;v
1|oĺƏƕo=ƑƏƏƕĺ$_;r-uঞ1†Ѵ-uvo=|_ov;|u-mv-1ঞomv
-u;v;|o†|omr-];vƐƏѶ|oƐƐƏo=|_;mm†-Ѵ!;rou|ĺ
bu;1|ouvĽ!;l†m;u-ঞom
bu;1|ouvĽu;l†m;u-ঞomķbmu;vr;1|o=|_;olr-m‹-m7
|_; uo†r =ou |_; Cm-m1b-Ѵ ‹;-u ;m7;7 ƒƐv| ;1;l0;u
ƑƏƐƔbv]bˆ;mbm|_;o|;Ƒѵ|o|_;
bm-m1b-Ѵ"|-|;l;m|vķ 1olrѴb-m1; 1om|uoѴv -m7 ubvh l-m-];l;m| |o v-=;]†-u7
omr-];ƐƐƏĺ
om-ঞomv
om-ঞomv l-7; 0‹ |_; uo†r -lo†m|;7 |o !vĺ
ƒķƏƏƖķƏƏƏņŊŐƑƏƐƓŊ!vĺƐƒƑķƔƏƏņŊő‰_b1_bm1Ѵ†7;v-v†l
o= !vĺ ƒķƏƏƏķƏƏƏņŊ ŐƑƏƐƓ ŋ bѴő l-7; |o oˆ;uml;m|
-rruoˆ;71_-ubঞ;vĺ
bu;1|ouv _-ˆ; l-7; - ];m;u-Ѵ 7bv1Ѵov†u; o= |_;bu
7bu;1|ouv_brv-m7rovbঞomv_;Ѵ7bmo|_;u;mঞঞ;v-m7|_;
m|;u;v|!;]bv|;u_-v0;;m-11ou7bm]Ѵ‹†r7-|;7ĺ
Insurance and Indemnity
The Company has obtained an indemnity and insurance
roѴb1‹ =uol ѴѴb-mŒ mv†u-m1; -mh- blb|;7 =ou b|v
bu;1|ouv-m7L1;uv-lo†mঞm]|o&"ŪƐbѴѴbom=ou|_;
r;ubo71oˆ;ubm]Ɛv|-m†-u‹|oƒƐv| ;1;l0;uƑƏƐƔĺ
Internal Controls
$_; o-u7 ;mv†u;v |_-| |_;u; bv -m ;@;1ঞˆ; -m7
1olru;_;mvbˆ; ruo1;vv =ou b7;mঞ=‹bm]ķ ;ˆ-Ѵ†-ঞm] -m7
l-m-]bm] -m‹ vb]mbC1-m| ubvhv =-1;7 0‹ |_; olr-m‹ķ
|_;-vv;|vĺ$_;o-u7rѴ-1;v;lr_-vbvbm-vv†ubm]ruor;u
-11o†mঞm] u;1ou7v -u; l-bm|-bm;7 -m7 |_; u;Ѵb-0bѴb|‹
o= Cm-m1b-Ѵ bm=oul-ঞomĺ $_; †7b| ollb‚;; o= |_;
olr-m‹u;1;bˆ;v|_;u;rou|vo=|_;bm|;um-Ѵ-†7b|u;ˆb;‰vķ
lomb|ouv|_;;@;1ঞˆ;m;vvo=bm|;um-Ѵ1om|uoѴv‹v|;lvo=
|_;olr-m‹-m7l-h;vr;ubo7b1-Ѵu;1oll;m7-ঞomv|o
|_;o-u7ĺ
56 INSPIRING
GENERATIONS

Annual Report of the Board of Directors

$_; bu;1|ouvĽ"|-|;l;m|omm|;um-Ѵom|uoѴvomr-];ƔѶ olrѴb-m1;‰b|_-‰v-m7!;]†Ѵ-ঞomv

]bˆ;v=†u|_;u7;|-bѴvĺ
$_; bu;1|ouvķ|o|_;0;v|o=|_;buhmo‰Ѵ;7];-m70;Ѵb;=ķ
1omCul |_-| |_; olr-m‹ _-v mo| ;m]-];7 bm -m‹
ourou-|;oˆ;um-m1; -1ঞˆbঞ;v 1om|u-ˆ;mbm] |_; -‰v -m7 !;]†Ѵ-ঞomv o= |_;
$_;o-u7rѴ-1;v;lr_-vbvbmbmvঞ|†ঞm]-m7l-bm|-bmbm] 1o†m|u‹ĺ
]oo7 ]oˆ;um-m1; ru-1ঞ1;v -m7 rubm1brѴ;vĺ $_;u;=ou;
|_;l-m-];l;m|-m7or;u-ঞomo=|_;olr-m‹-m7b|v Statutory Payments
v†0vb7b-ub;v-u;;@;1ঞˆ;Ѵ‹7bu;1|;7-m71om|uoѴѴ;7‰b|_bm
$_; bu;1|ouv |o |_; 0;v| o= |_;bu hmo‰Ѵ;7]; -m7 0;Ѵb;=
|_;ourou-|;oˆ;um-m1;=u-l;‰ouh-vv;|o†|bmr-];v
-u; v-ঞvC;7 |_-| -ѴѴ v|-|†|ou‹ r-‹l;m|v 7†; |o |_;
ƒƏ|oƓѵbm|_bv!;rou|ĺ
]oˆ;uml;m|-m7bmu;Ѵ-ঞom|o|_;;lrѴo‹;;v_-ˆ;0;;m
l-7;bm=†ѴѴ-m7omঞl;ĺ
Shareholdings
$_;u;‰;u;ƓķƒƔƕŐƑƏƐƓŊƒķѵƒƔőu;]bv|;u;7v_-u;_oѴ7;uv ˆ;m|v-[;u"|-|;l;m|o= bm-m1b-Ѵovbঞom -|;
o= ou7bm-u‹ v_-u;v -v -| ƒƐv| ;1;l0;u ƑƏƐƔĺ $_;
There have not been any material events that have
7bv|ub0†ঞomo=v_-u;_oѴ7bm]vbv]bˆ;momr-];ƐƑƏo=|_bv
occurred subsequent to the date of the Statement of
!;rou|ĺ
bm-m1b-Ѵovbঞom|_-|u;t†bu;-7f†v|l;m|v|o|_; bm-m1b-Ѵ
Statements, other than those disclosed in Note 30 to the
"_-u;_oѴ7;um=oul-ঞom bm-m1b-Ѵ"|-|;l;m|vĺ
m=oul-ঞom u;Ѵ-ঞm] |o ;-umbm]vķ 7bˆb7;m7vķ m;| -vv;|vķ
l-uh;| ˆ-Ѵ†; r;u v_-u; -m7 v_-u; |u-7bm] bv ]bˆ;m om Going Concern
r-];vƐƐƖ-m7ƐƑƏbm|_; bm-m1b-Ѵ!;ˆb;‰v;1ঞomo=|_bv
$_;o-u7o= bu;1|ouvbvv-ঞvC;7|_-||_;olr-m‹-m7
!;rou|ĺ
b|v v†0vb7b-ub;v _-ˆ; -7;t†-|; u;vo†u1;v |o 1omঞm†; b|v
or;u-ঞomv bm |_; =ou;v;;-0Ѵ; =†|†u;ĺ 11ou7bm]Ѵ‹ķ |_;
Major Shareholders bm-m1b-Ѵ"|-|;l;m|v-u;ru;r-u;7om|_;]obm]1om1;um
$_; |‰;m|‹ Ѵ-u];v| v_-u;_oѴ7;uv o= |_; olr-m‹ -v -| 1om1;r|ĺ
ƒƐv| ;1;l0;u ƑƏƐƔ |o];|_;u ‰b|_ -m -m-Ѵ‹vbv o= |_;
v_-u;_oѴ7bm]v-u;]bˆ;momr-];ƐƑƑo=|_bv!;rou|ĺ Auditors
$_; †7b| ollb‚;; u;ˆb;‰v |_; -rrobm|l;m| o=
bu;1|ouvĽ!;vromvb0bѴb|‹=ou bm-m1b-Ѵ!;rouঞm] |_; †7b|ouvķ |_;bu ;@;1ঞˆ;m;vvķ bm7;r;m7;m1; -m7
$_; bu;1|ouv -u; u;vromvb0Ѵ; =ou |_; ru;r-u-ঞom o= u;Ѵ-ঞomv_br‰b|_|_;olr-m‹-m7b|vuo†rĺm-11ou7-m1;
bm-m1b-Ѵ "|-|;l;m|v o= |_; olr-m‹ |o u;Y;1| - |u†; ‰b|_ |_; olr-mb;v 1| oĺ ƕ o= ƑƏƏƕķ - u;voѴ†ঞom
-m7=-buˆb;‰o=|_;v|-|;o=-@-buvo=|_;olr-m‹ĺ$_; ruorovbm]|_;u;Ŋ-rrobm|l;m|o=;vvuvumv|ş+o†m]ķ
bu;1|ouv-u;o=|_;ˆb;‰|_-||_;v; bm-m1b-Ѵ"|-|;l;m|v _-u|;u;711o†m|-m|vķ-v†7b|ouv|o|_;olr-m‹‰bѴѴ
_-ˆ;0;;mru;r-u;7bm1om=oulb|‹‰b|_|_;u;t†bu;l;m|v 0;v†0lb‚;7-||_;mm†-Ѵ;m;u-Ѵ;;ঞm]ĺ
o=|_;"ub-mh-11o†mঞm]"|-m7-u7vŐ" !"ņ"őķ"ub
$_;†7b|ouv!;rou|bv=o†m7bm|_; bm-m1b-Ѵm=oul-ঞom
-mh-11o†mঞm] -m7†7bঞm] "|-m7-u7v1| o ƐƔ o=
v;1ঞomo=|_;mm†-Ѵ!;rou|ĺ
1995, Companies Act No 07 of 2007, Inland Revenue Act
oĺƐƏo=ƑƏƏѵ-m7-l;m7l;m|v|_;u;|oķ-m7|_;bvঞm]
$_; †7b|ouvķ ;vvuvĺ umv| ş +o†m]ķ _-u|;u;7
!†Ѵ;vo=|_;oѴol0o"|o1hŠ1_-m];ĺ$_;"|-|;l;m|o=
11o†m|-m|v ‰;u; r-b7 !vĺ ƐķƔƓƖķƔƓƓņŊ ŐƑƏƐƓ ŋ !vĺ
bu;1|ouvĽ !;vromvb0bѴb|‹ =ou bm-m1b-Ѵ !;rouঞm] bv ]bˆ;m
ƐķƓƔƏķѵƕƑņŊő-m7!vĺƑķƖƐƏķƒѵѵņŊŐƑƏƐƓŊ!vĺƒķƐƒƓķƓƐƑņŊ
omr-];ѵƏ-m7=oulv-mbm|;]u-Ѵr-u|o=|_bvu;rou|ĺ
mő -v -†7b| =;;v 0‹ |_; olr-m‹ -m7 |_; uo†r
u;vr;1ঞˆ;Ѵ‹ĺ m -77bঞomķ |_;‹ ‰;u; r-b7 !vĺ ƒƓѶķƕƖƏņŊ
ŐƑƏƐƓŊ!vĺ  ƒƓƔķƔƑƏņŊő -m7 !vĺ ƐķƏѵƒķƖƒƏņŊ ŐƑƏƐƓŊ
!vĺ ƐķƔƔƑķƒƑƏņŊőķ 0‹ |_; olr-m‹ -m7 |_; uo†rķ =ou
r;ulb‚;7momŊ-†7b|u;Ѵ-|;7v;uˆb1;vĺ
 57
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

$_;†7b|ouv_-ˆ;1omCul;7|_-||_;‹7omo|_-ˆ;-m‹
u;Ѵ-ঞomv_br‰b|_ ou bm|;u;v| bm |_; olr-m‹ o|_;u |_-m
|_ov;7bv1Ѵov;7-0oˆ;ĺ

mm†-Ѵ;m;u-Ѵ;;ঞm]
$_;mm†-Ѵ ;m;u-Ѵ ;;ঞm] ‰bѴѴ 0; _;Ѵ7 om ƑƔ|_rubѴ
ƑƏƐѵ-|ƓĺƏƏrĺl-||_;-ˆ;Ѵo1hb|‹Ѵ†0o†v;ķoĺ
ƒƑƓķ -ˆ;Ѵo1h !o-7ķ oѴol0o Əѵĺ $_; oঞ1; o= |_;
mm†-Ѵ ;m;u-Ѵ ;;ঞm] -rr;-uv om r-]; ƐƑƔ o= |_;
mm†-Ѵ!;rou|ĺ

ou-m7om0;_-Ѵ=o=|_;o-u7

H. Z. Cassim Ajith M. de S. Jayaratne

Director Director

bmoh-"-l-u-m-‹-h;
Company Secretary

25th February 2016

58 INSPIRING
GENERATIONS
Directors, Statement on Internal Controls
$_;=oѴѴo‰bm]v|-|;l;m|=†ѴCѴѴv|_;u;t†bu;l;m||or†0Ѵbv_
bm7bm]v
the Directors’ Statement on Internal Control as per the
o7; o= ;v| u-1ঞ1; om ourou-|; oˆ;um-m1; bvv†;7
0‹"ub-mh--m7";1†ubঞ;v-m7Š1_-m];ollbvvbom
o="ub-mh-ĺ
$_; o-u7 o= bu;1|ouv bv u;vromvb0Ѵ; =ou l-bm|-bmbm]
- vo†m7 v‹v|;l o= bm|;um-Ѵ 1om|uoѴv |o v-=;]†-u7
"_-u;_oѴ7;uvĽmˆ;v|l;m|v-m7|_;olr-m‹Ľvvv;|vĺ$_;
o-u7_-v;v|-0Ѵbv_;7-mom]obm]ruo1;vv=oub7;mঞ=‹bm]ķ
;ˆ-Ѵ†-ঞm]-m7l-m-]bm]|_;vb]mbC1-m|ubvhv=-1;70‹|_;
olr-m‹-m7|_;uo†rĺ$_bvruo1;vvbm1Ѵ†7;v;m_-m1bm]
|_; v‹v|;l o= bm|;um-Ѵ 1om|uoѴv -v -m7 ‰_;m |_;u; -u;
1_-m];v|o0†vbm;vv;mˆbuoml;m|ouu;]†Ѵ-|ou‹]†b7;Ѵbm;vĺ
$_;ruo1;vvbvu;]†Ѵ-uѴ‹u;ˆb;‰;70‹|_;o-u7ĺ
$_;o-u7bvo=|_;ˆb;‰|_-||_;v‹v|;lo=bm|;um-Ѵ1om|uoѴv
in place is sound and adequate to provide reasonable
-vv†u-m1; u;]-u7bm] |_; u;Ѵb-0bѴb|‹ o= Cm-m1b-Ѵ u;rouঞm]ķ
-m7|_;ru;r-u-ঞomo=
bm-m1b-Ѵ"|-|;l;m|v=ou;Š|;um-Ѵ |_; olr-m‹ĺ $_;v; bm |†um ‰;u; o0v;uˆ;7 -m7
r†urov;v -m7 bv bm -11ou7-m1; ‰b|_ u;Ѵ;ˆ-m| -11o†mঞm]
rubm1brѴ;v-m7u;]†Ѵ-|ou‹u;t†bu;l;m|vĺ
$_; o-u7 _-v blrѴ;l;m|;7 |_; =oѴѴo‰bm] |o o0|-bm
reasonable assurance that proper systems of internal
!" -m7 " bm ƑƏƐƑķ
1om|uoѴv-u;bmrѴ-1;Ĺ
Ŏ mvঞ|†|;7ˆ-ubo†v 1ollb‚;;v |o -vvbv| |_; o-u7
bm ;mv†ubm] |_; ;@;1ঞˆ;m;vv o= olr-m‹Ľv
or;u-ঞomv -m7 |_; or;u-ঞomv -u; bm -11ou7-m1;
‰b|_|_;1ourou-|;v|u-|;]b;v-m7-mm†-Ѵ0†7];|ĺ
Ŏ $_; olr-m‹Ľv bm|;um-Ѵ -†7b| =†m1ঞom _-v
0;;m o†|vo†u1;7 |o ;vvuvĺ ub1;‰-|;u_o†v;
oor;uv Ő)ő Ő_-u|;u;7 11o†m|-m|vőĺ $_;
m|;um-Ѵ †7b|ouv 1_;1h =ou 1olrѴb-m1; ‰b|_
roѴb1b;v -m7 ruo1;7†u;v -m7 |_; ;@;1ঞˆ;m;vv o=
|_; bm|;um-Ѵ 1om|uoѴ v‹v|;lv om -m om]obm] 0-vbv
†vbm]v-lrѴ;v-m7uo|-ঞom-Ѵruo1;7†u;v-m7|_;
_b]_Ѵb]_| vb]mbC1-m| Cm7bm]v bm u;vr;1| o= -m‹
momŊ1olrѴb-m1;ĺ †7b|v -u; 1-uub;7 o†| om -ѴѴ
v†0vb7b-ub;vbm-11ou7-m1;‰b|_|_;-mm†-Ѵ-†7b|
 rѴ-m -rruoˆ;7 0‹ |_; †7b| ollb‚;;ĺ
-u;v†0lb‚;7|o|_;†7b|ollb‚;;=ouu;ˆb;‰-|
|_;bur;ubo7b1l;;ঞm]vĺ
Ŏ $_;†7b|ollb‚;;u;ˆb;‰vbm|;um-Ѵ1om|uoѴbvv†;v
b7;mঞC;7 0‹ m|;um-Ѵ †7b|ouvķ -m7 ;ˆ-Ѵ†-|;v |_;
-7;t†-1‹-m7;@;1ঞˆ;m;vvo=|_;ubvhl-m-];l;m|
-m7bm|;um-Ѵ1om|uoѴv‹v|;lvĺ$_;‹-Ѵvou;ˆb;‰|_;
bm|;um-Ѵ-†7b|=†m1ঞomv‰b|_r-uঞ1†Ѵ-u;lr_-vbvom
|_;v1or;o=-†7b|v-m7t†-Ѵb|‹o=bm|;um-Ѵ-†7b|vĺ
$_;lbm†|;vo=|_;†7b|ollb‚;;l;;ঞm]v-u;
|-0Ѵ;7-||_;o-u7l;;ঞm]v=ou|_;bm=oul-ঞomo=
|_;o-u7om-r;ubo7b10-vbvĺ
Ŏ m -vv;vvbm] |_; bm|;um-Ѵ 1om|uoѴ v‹v|;l oˆ;u
Cm-m1b-Ѵ u;rouঞm]ķ u;Ѵ;ˆ-m| v;mbou oL1;uv o=
the company collated all procedures and control
|_-| -u; 1omm;1|;7 ‰b|_ vb]mbC1-m| -11o†m|v
and disclosures of the Financial Statement of
checked by the Internal Auditors for suitability of
7;vb]m-m7;@;1ঞˆ;m;vvom-mom]obm]0-vbvĺ
Ŏ $_; -7orঞom o= m;‰ "ub -mh- 11o†mঞm]
"|-m7-u7v 1olrubvbm] "
ruo1;vv;v |_-| -u; u;t†bu;7 |o 1olrѴ‹ ‰b|_ m;‰
u;t†bu;l;m|v o= u;1o]mbঞomķ l;-v†u;l;m|ķ
ru;v;m|-ঞom-m77bv1Ѵov†u;v‰;u;bm|uo7†1;7-m7
blrѴ;l;m|;7ĺomঞm†o†vlomb|oubm]bvbmruo]u;vv
|o;mv†u;;@;1ঞˆ;blrѴ;l;m|-ঞomo=|_;u;t†bu;7
ruo1;vv;vĺ
Ŏ $_; 1oll;m|v l-7; 0‹ Š|;um-Ѵ †7b|ouv bm
1omm;1ঞom ‰b|_ |_; bm|;um-Ѵ 1om|uoѴ v‹v|;l
7†ubm] |_; Cm-m1b-Ѵ ‹;-u ƑƏƐƔ ‰;u; |-h;m bm|o
1omvb7;u-ঞom -m7 -rruorub-|; v|;rv _-ˆ; 0;;m
|-h;m|ou;1ঞ=‹|_;lĺ
 59
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

Conclusion
-v;7 om |_; -0oˆ; ruo1;vv;vķ |_; o-u7 o= bu;1|ouv
1omCulv |_-| |_; Cm-m1b-Ѵ u;rouঞm] v‹v|;l o= |_;
olr-m‹ _-v 0;;m 7;vb]m;7 |o ruoˆb7; u;-vom-0Ѵ;
-vv†u-m1; u;]-u7bm] |_; u;Ѵb-0bѴb|‹ o= Cm-m1b-Ѵ u;rouঞm]
-m7|_;ru;r-u-ঞomo= bm-m1b-Ѵ"|-|;l;m|v=ou;Š|;um-Ѵ
r†urov;v_-ˆ;0;;m7om;bm-11ou7-m1;‰b|_|_;"ub-mh-
11o†mঞm]"|-m7-u7vŐ" !"ņ"őķu;t†bu;l;m|vo=|_;
olr-m‹Ľv1|oĺƏƕo=ƑƏƏƕ-m7|_;bvঞm]!†Ѵ;vo=
|_;oѴol0o"|o1hŠ1_-m];ĺ

H. Z. Cassim
Deputy Chairman

Ajith M. de S. Jayaratne
_-bul-mķ†7b|ollb‚;;

25th February 2016

60 INSPIRING
GENERATIONS

Directors’ Responsibility for Financial Reporting

The Directors of the Company are responsible for the
ru;r-u-ঞom-m7ru;v;m|-ঞomo=|_;
bm-m1b-Ѵ"|-|;l;m|v mm†-Ѵ!;rou|ĺ
|o |_; v_-u;_oѴ7;uv bm -11ou7-m1; ‰b|_ |_; u;Ѵ;ˆ-m|
ruoˆbvbomv o= |_; olr-mb;v 1| oĺ Əƕ o= ƑƏƏƕ -m7
o|_;u v|-|†|;v ‰_b1_ -u; -rrѴb1-0Ѵ; bm ru;r-u-ঞom o=
bm-m1b-Ѵ"|-|;l;m|vĺ
The consolidated Financial Statements of the Company
-m7b|v"†0vb7b-ub;v1olrubv;o=Ĺ
†u|_;uķ -v u;t†bu;7 0‹ ";1ঞom ƔѵŐƑő o= |_; olr-mb;v
Ŏ "|-|;l;m| o=
bm-m1b-Ѵ rovbঞom -v -| ƒƐ ;1;l0;u 1omCul;7 |_-| |_; olr-m‹ 0-v;7 om |_; bm=oul-ঞom
ƑƏƐƔķ‰_b1_ru;v;m|-|u†;-m7=-buˆb;‰o=|_;v|-|;
o=-@-buvo=|_;olr-m‹-m7b|vv†0vb7b-ub;v-v-||_;
;m7o=|_;Cm-m1b-Ѵ‹;-u-m7
Ŏ m1ol; "|-|;l;m|v ‰_b1_ ru;v;m|v - |u†; -m7 =-bu
ˆb;‰ o= |_; ruoC| -m7 Ѵovv o= |_; olr-m‹ -m7 b|v
v†0vb7b-ub;v=ou|_;Cm-m1b-Ѵ‹;-u|_;m;m7;7ĺ
"|-m7-u7v -m7 |_;bu u;rou| bv ]bˆ;m om r-]; ѵƐ o= |_;
$_; bu;1|ouv _-ˆ; ruoˆb7;7 |_; †7b|ouv ‰b|_ ;ˆ;u‹
orrou|†mb|‹|o1-uu‹o†|-m‹u;ˆb;‰v-m7|;v|v|_-||_;‹
consider appropriate and necessary for the performance
o=|_;buu;vromvb0bѴbঞ;vĺ
1| oĺ Əƕ o= ƑƏƏƕķ |_; o-u7 o= bu;1|ouv _-ˆ;
-ˆ-bѴ-0Ѵ;ķ v-ঞvC;v |_; voѴˆ;m1‹ |;v| bll;7b-|;Ѵ‹ -[;u
|_; 7bv|ub0†ঞomķ bm -11ou7-m1; ‰b|_ ";1ঞom Ɣƕ o= |_;
olr-mb;v 1| oĺ Əƕ o= ƑƏƏƕ -m7 _-v o0|-bm;7 -
1;uঞC1-|; =uol |_; -†7b|ouvķ rubou |o u;1oll;m7bm] -
Cm-Ѵ7bˆb7;m7o=!vĺƐĺƔƏr;uv_-u;=ou|_bv‹;-u‰_b1_bv
to be approved by the shareholders at the Annual General
;;ঞm]|o0;_;Ѵ7omƑƔ|_rubѴƑƏƐѵĺ

11ou7bm]Ѵ‹ķ |_; bu;1|ouv 1omCul |_-| |_; bm-m1b-Ѵ $_; bu;1|ouv-u;o=|_;ˆb;‰|_-||_;‹_-ˆ;7bv1_-u];7

Statements of the Company and its subsidiaries for the |_;buu;vromvb0bѴbঞ;v-vv;|o†|bm|_bvv|-|;l;m|ĺ
year ended 31 December 2015 incorporated in this report
_-ˆ; 0;;m ru;r-u;7 bm -11ou7-m1; ‰b|_ |_; olr-mb;v $_; bu;1|ouv1omCul|o|_;0;v|o=|_;buhmo‰Ѵ;7];|_-|
1|oĺƏƕo=ƑƏƏƕķ"ub-mh-11o†mঞm] -ѴѴ |-Š;vķ Ѵ;ˆb;v -m7 Cm-m1b-Ѵ o0Ѵb]-ঞomv o= |_; uo†r
have been either paid or adequately provided for in the
"|-m7-u7v Ő" !"ņ"őķ bvঞm] !†Ѵ;v o= |_; oѴol0o bm-m1b-Ѵ "|-|;l;m|vķ ;Š1;r| -v vr;1bC;7 bm o|; ƑѶ |o
"|o1h Š1_-m]; -m7 ];m;u-ѴѴ‹ -11;r|;7 -11o†mঞm] |_; bm-m1b-Ѵ"|-|;l;m|v1oˆ;ubm]1omঞm];m|Ѵb-0bѴbঞ;vĺ
roѴb1b;vĺ $_; bu;1|ouv 1omvb7;u |_-|ķ bm ru;r-ubm] |_;
bm-m1b-Ѵ "|-|;l;m|v ;Š_b0b|;7 om r-];v ѵƑ |o ƐƐƕ ou-m7om0;_-Ѵ=o=|_;o-u7
|_;‹ _-ˆ; -7or|;7 -rruorub-|; -11o†mঞm] roѴb1b;v om -
consistent basis, supported by reasonable and prudent
f†7]l;m|v-m7;vঞl-|;vĺ

The Directors have also taken such steps as are reasonably

or;m|o|_;l|ov-=;]†-u7|_;-vv;|vo=|_;olr-m‹-m7 H. Z. Cassim A. M. de S. Jayaratne
|oru;ˆ;m|-m77;|;1|=u-†7v-m7o|_;ubuu;]†Ѵ-ubঞ;vĺm Deputy Chairman Director
|_bvu;]-u7ķ|_; bu;1|ouv_-ˆ;bmvঞ|†|;7-m;@;1ঞˆ;-m7
1olru;_;mvbˆ;v‹v|;lo=bm|;um-Ѵ1om|uoѴv1olrubvbm]o= Colombo on this 25th day of February 2016
bm|;um-Ѵ1_;1hvķbm|;um-Ѵ-†7b|ķCm-m1b-Ѵ-m7o|_;u1om|uoѴv
required to carry on the Company’s business in an orderly
l-mm;u -m7 |o v-=;]†-u7 b|v -vv;|v -m7 v;1†u; -v =-u -v
ru-1ঞ1-0Ѵ;|_;-11†u-1‹-m7u;Ѵb-0bѴb|‹o=|_;u;1ou7vĺ

;vvuvĺ umv| ş +o†m]ķ _-u|;u;7 11o†m|-m|vķ _-ˆ;

1-uub;7o†|-m-†7b|bm-11ou7-m1;‰b|_"ub-mh-†7bঞm]

OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015
Independent Auditors’ Report
$$"! !"
(!""!$+ 1bu1†lv|-m1;vķ0†|mo|=ou|_;r†urov;o=;Šru;vvbm]-morbmbom
Ő+ő
!;rou|om|_;
bm-m1b-Ѵ"|-|;l;m|v †v;7-m7|_;u;-vom-0Ѵ;m;vvo=-11o†mঞm];vঞl-|;vl-7;0‹
); _-ˆ; -†7b|;7 |_; -11olr-m‹bm] Cm-m1b-Ѵ v|-|;l;m|v o=
ˆ;uv;-v!;-Ѵ|‹Ő;‹ѴomőŐľ|_;olr-m‹Ŀőķ|_;1omvoѴb7-|;7
Cm-m1b-Ѵ v|-|;l;m|v o= |_; olr-m‹ -m7 b|v v†0vb7b-ub;v
Őľuo†rĿő ‰_b1_ 1olrubv; |_; v|-|;l;m| o= Cm-m1b-Ѵ rovbঞom
-v -| ƒƐ ;1;l0;u ƑƏƐƔķ -m7 |_; v|-|;l;m| o= ruoC| ou Ѵovvķ
v|-|;l;m|o=1olru;_;mvbˆ;bm1ol;ķv|-|;l;m|vo=1_-m];vbm
;t†b|‹-m7v|-|;l;m|1-v_Yo‰v=ou|_;‹;-u|_;m;m7;7ķ-m7-
v†ll-u‹o=vb]mbC1-m|-11o†mঞm]roѴb1b;v-m7o|_;u;ŠrѴ-m-|ou‹
bm=oul-ঞomĺ
o-u7Ľv!;vromvb0bѴb|‹=ou|_;
bm-m1b-Ѵ"|-|;l;m|v
$_;o-u7o= bu;1|ouvŐľo-u7Ŀőbvu;vromvb0Ѵ;=ou|_;ru;r-u-ঞom
o= |_;v; Cm-m1b-Ѵ v|-|;l;m|v |_-| ]bˆ; - |u†; -m7 =-bu ˆb;‰ bm
-11ou7-m1;‰b|_"ub-mh-11o†mঞm]"|-m7-u7vķ-m7=ouv†1_
bm|;um-Ѵ1om|uoѴv-vo-u77;|;ulbm;vbvm;1;vv-u‹|o;m-0Ѵ;|_;
ru;r-u-ঞom o= Cm-m1b-Ѵ v|-|;l;m|v |_-| -u; =u;; =uol l-|;ub-Ѵ
lbvv|-|;l;m|ķ‰_;|_;u7†;|o=u-†7ou;uuouĺ
†7b|ouĽv!;vromvb0bѴb|‹
†u u;vromvb0bѴb|‹ bv |o ;Šru;vv -m orbmbom om |_;v; Cm-m1b-Ѵ
v|-|;l;m|v 0-v;7 om o†u -†7b|ĺ ); 1om7†1|;7 o†u -†7b| bm
-11ou7-m1;‰b|_"ub-mh-†7bঞm]"|-m7-u7vĺ$_ov;v|-m7-u7v
u;t†bu;|_-|‰;1olrѴ‹‰b|_;|_b1-Ѵu;t†bu;l;m|v-m7rѴ-m-m7
r;u=oul|_;-†7b||oo0|-bmu;-vom-0Ѵ;-vv†u-m1;-0o†|‰_;|_;u
|_;Cm-m1b-Ѵv|-|;l;m|v-u;=u;;=uoll-|;ub-Ѵlbvv|-|;l;m|ĺ
m -†7b| bmˆoѴˆ;v r;u=oulbm] ruo1;7†u;v |o o0|-bm -†7b|
;ˆb7;m1; -0o†| |_; -lo†m|v -m7 7bv1Ѵov†u;v bm |_; Cm-m1b-Ѵ
v|-|;l;m|vĺ $_; ruo1;7†u;v v;Ѵ;1|;7 7;r;m7 om |_; -†7b|ouĽv
f†7]l;m|ķ bm1Ѵ†7bm] |_; -vv;vvl;m| o= |_; ubvhv o= l-|;ub-Ѵ
lbvv|-|;l;m| o= |_; Cm-m1b-Ѵ v|-|;l;m|vķ ‰_;|_;u 7†; |o
=u-†7 ou ;uuouĺ m l-hbm] |_ov; ubvh -vv;vvl;m|vķ |_; -†7b|ou
1omvb7;uv bm|;um-Ѵ 1om|uoѴ u;Ѵ;ˆ-m| |o |_; ;mঞ|‹Ľv ru;r-u-ঞom
o= |_; Cm-m1b-Ѵ v|-|;l;m|v |_-| ]bˆ; - |u†; -m7 =-bu ˆb;‰ bm
ou7;u |o 7;vb]m -†7b| ruo1;7†u;v |_-| -u; -rruorub-|; bm |_;
61
om|_;;@;1ঞˆ;m;vvo=|_;;mঞ|‹Ľvbm|;um-Ѵ1om|uoѴĺm-†7b|-Ѵvo
bm1Ѵ†7;v ;ˆ-Ѵ†-ঞm] |_; -rruorub-|;m;vv o= -11o†mঞm] roѴb1b;v
|_;o-u7ķ-v‰;ѴѴ-v;ˆ-Ѵ†-ঞm]|_;oˆ;u-ѴѴru;v;m|-ঞomo=|_;
Cm-m1b-Ѵv|-|;l;m|vĺ
);0;Ѵb;ˆ;|_-||_;-†7b|;ˆb7;m1;‰;_-ˆ;o0|-bm;7bvv†L1b;m|
-m7-rruorub-|;|oruoˆb7;-0-vbv=ouo†u-†7b|orbmbomĺ
rbmbom
mo†uorbmbomķ|_;1omvoѴb7-|;7Cm-m1b-Ѵv|-|;l;m|v]bˆ;-|u†;
-m7=-buˆb;‰o=|_;Cm-m1b-Ѵrovbঞom-v-|ƒƐ ;1;l0;uƑƏƐƔķ
-m7o=b|v|_;Cm-m1b-Ѵr;u=oul-m1;-m71-v_Yo‰v=ou|_;‹;-u
|_;m;m7;7bm-11ou7-m1;‰b|_"ub-mh-11o†mঞm]"|-m7-u7vĺ
!;rou|omo|_;uѴ;]-Ѵ-m7u;]†Ѵ-|ou‹u;t†bu;l;m|v
vu;t†bu;70‹";1ঞomƐѵƒŐƑőo=|_;olr-mb;v1|oĺƕo=
ƑƏƏƕķ‰;v|-|;|_;=oѴѴo‰bm]Ĺ
-ő $_;0-vbvo=orbmbomķv1or;-m7Ѵblb|-ঞomvo=|_;-†7b|-u;-v
v|-|;7-0oˆ;ĺ
0ő mo†uorbmbomĹ
Ŋ ‰;_-ˆ;o0|-bm;7-ѴѴ|_;bm=oul-ঞom-m7;ŠrѴ-m-ঞomv|_-|
‰;u;u;t†bu;7=ou|_;-†7b|-m7ķ-v=-u-v-rr;-uv=uolo†u
;Š-lbm-ঞomķruor;u-11o†mঞm]u;1ou7v_-ˆ;0;;mh;r|0‹
the Company,
Ŋ |_;Cm-m1b-Ѵv|-|;l;m|vo=|_;olr-m‹]bˆ;-|u†;-m7=-bu
ˆb;‰o=|_;Cm-m1b-Ѵrovbঞom-v-|ƒƐ ;1;l0;uƑƏƐƔķ-m7
o=b|vCm-m1b-Ѵr;u=oul-m1;-m71-v_Yo‰v=ou|_;‹;-u|_;m
;m7;7 bm -11ou7-m1;‰b|_ "ub -mh-11o†mঞm] "|-m7-u7vķ
and
Ŋ |_; Cm-m1b-Ѵ v|-|;l;m|v o= |_; olr-m‹ -m7 |_; uo†rķ
1olrѴ‹ ‰b|_ |_; u;t†bu;l;m|v o= ";1ঞom ƐƔƐ -m7 ƐƔƒ o=
|_;olr-mb;v1|oĺƏƕo=ƑƏƏƕĺ
25 February 2016
Colombo
62 INSPIRING
GENERATIONS

Statement of Financial Position

v-|ƒƐ ;1;l0;uƑƏƐƔ

Group Company
Note 2015 2014 2015 2014
Rs. !vĺ Rs. !vĺ
""$"
omŊ†uu;m|vv;|v
Investment Property 5 ƑƑķƔƕƖķƓƐƏķƖƖƕ 21,404,872,807 ƑƑķƔƕƖķƓƐƏķƖƖƕ 21,404,872,807
Property, Plant and Equipment 6 ƐķƔƖѶķƐƏƔķƓƏƕ 1,559,111,409 ƒѵƒķƖƒƓķѶѵƔ 338,456,150
m|-m]b0Ѵ;vv;|v 7 ƐƑķƒƑƖķƐѶѵ 13,799,438 ƒķƔƒƓķƒƑƑ 5,004,574
Investments in Subsidiaries 8 Ŋ - ƐķƐƑƔķƏƐƏķƏƓƏ 1,125,010,040
Inventories ƐƏĺƐ ƑķƒѵƑķƐƕƓķƏƕƑ 2,124,582,326 Ŋ -
;=;uu;7$-Švv;|v 9 ƑƖķƒѵƓķƐƔƓ 27,170,393 ƐƔķƓƖƏķƑƏƑ 23,613,326
ƑѵķƔѶƐķƒѶƒķѶƐѵ 25,129,536,373 ƑƓķƏѶƕķƒѶƏķƓƑѵ 22,896,956,897
†uu;m|vv;|v
Inventories ƐƏĺƑ ƑƕƐķƔƖƖķƓѵѶ 424,017,954 ƐƔķѵƐƔķѶƏƓ 19,230,387
Trade and Other Receivables 11 ѶƖƑķƐѶƏķƖƖƐ 1,378,720,419 ƓƑƒķƓƏƏķƏƕƑ 355,457,085
lo†m|v7†;=uol!;Ѵ-|;7-uঞ;v 12 ƖƖѵķƓѶѶ 8,666,291 ƖķѶƓƒķƕƓƏ 12,058,039
m1ol;$-Š!;1oˆ;u-0Ѵ; Ŋ 9,940,543 Ŋ 131,163
Short Term Investments ƐƔĺƐ ƑķѶѵƐķƕƐƐķƑƓƒ 2,154,735,058 ƑķѶѵƐķƕƐƐķƑƓƒ 2,154,735,058
Cash and Short Term Deposits 21 ƐķѵѵѵķƏƖƖķƐƐƕ 1,170,006,576 ƐķƓƏƏķƑѶƓķƕƑƑ 792,836,167
ƔķѵƖƑķƔѶƕķƒƏƕ 5,146,086,841 ƓķƕƐƏķѶƔƔķƔѶƐ 3,334,447,899
$o|-Ѵvv;|v ƒƑķƑƕƒķƖƕƐķƐƑƒ 30,275,623,214 ƑѶķƕƖѶķƑƒѵķƏƏƕ 26,231,404,796
 &$+ $"
t†b|‹‚ub0†|-0Ѵ;|ot†b|‹oѴ7;uvo=
|_;-u;m|
Stated Capital 13 ƐƐķƐѵƑķƕƔƐķƔƐƒ 10,186,085,405 ƐƐķƐѵƑķƕƔƐķƔƐƒ 10,186,085,405
!;ˆ-Ѵ†-ঞom!;v;uˆ; 14 ƑƖƐķƐѶƑķƒƔƓ 264,523,391 ƑѶƓķƏѶƐķƖƓƕ 264,523,391
!;|-bm;7-umbm]v ƐƕķƐƔƐķƏѵƏķѶƒƐ 15,477,908,704 ƐƔķƖƖƑķƔƏƏķƒƓƐ 14,441,644,747
ƑѶķѵƏƓķƖƖƓķѵƖѶ 25,928,517,500 ƑƕķƓƒƖķƒƒƒķѶƏƐ 24,892,253,543
omŊ1om|uoѴѴbm]m|;u;v| ƐķƔƐƐķѶƓƓķѵѶƕ 1,507,482,118 Ŋ -
$o|-Ѵt†b|‹ ƒƏķƐƐѵķѶƒƖķƒѶƔ 27,435,999,618 ƑƕķƓƒƖķƒƒƒķѶƏƐ 24,892,253,543
omŊ†uu;m|b-0bѴbঞ;v
m|;u;v|;-ubm]o-mv-m7ouuo‰bm]v ƐƔĺƑ ƓƔķƕƖƕķƏƏƏ 95,801,000 ƓƔķƕƖƕķƏƏƏ 95,801,000
ov|lrѴo‹l;m|;m;C|b-0bѴb|‹ 16 ƑѵķƔƐƐķƐƕƕ 21,274,742 ƐƐķѵƔƏķƐƐƔ 8,352,270
Customer Deposits 18 ƒƑƑķƕѶѵķƓƐƑ - Ŋ -
;=;uu;7$-Šb-0bѴbঞ;v 9 ƑƑķƕƏѶķƏƒƓ - Ŋ -
ƓƐƕķѶƏƑķѵƑƒ 117,075,742 ƔƕķƓƓƕķƐƐƔ 104,153,270
†uu;m|b-0bѴbঞ;v
Trade and Other Payables 17 ƕѶƑķƐѵѵķƐƕƏ 825,224,075 ƒƑƖķƒƒƐķƑƖƑ 334,322,674
Rental and Customer Deposits 18 ѶƕƔķƓѵƖķƒƑѶ 904,236,270 ѶƕƔķƓѵƖķƒƑѶ 840,698,153
lo†m|v7†;|o!;Ѵ-|;7-uঞ;v 19 ƑƐķƐƕƐķƏƓƐ - ƑƓķƓƒѵķƔƑƐ 4,657,631
m|;u;v|;-ubm]o-mv-m7ouuo‰bm]v ƐƔĺƑ ƔƏķƏƏƓķƏƏƏ 985,796,951 ƔƏķƏƏƓķƏƏƏ 50,004,000
m1ol;$-Š-‹-0Ѵ; ƒķѶƏƔķƓƏƑ 1,975,033 ƐƔķƔƏƏķƕƕѵ -
Dividends Payable 20 ѵķƕƐƒķƐƕƓ 5,315,525 ѵķƕƐƒķƐƕƓ 5,315,525
ƐķƕƒƖķƒƑƖķƐƐƔ 2,722,547,854 ƐķƒƏƐķƓƔƔķƏƖƐ 1,234,997,983
$o|-Ѵb-0bѴbঞ;v ƑķƐƔƕķƐƒƐķƕƒѶ 2,839,623,596 ƐķƒƔѶķƖƏƑķƑƏѵ 1,339,151,253
$o|-Ѵt†b|‹-m7b-0bѴbঞ;v ƒƑķƑƕƒķƖƕƐķƐƑƒ 30,275,623,214 ƑѶķƕƖѶķƑƒѵķƏƏƕ 26,231,404,796

1;uঞ=‹|_-||_;v; bm-m1b-Ѵ"|-|;l;m|v-u;bm1olrѴb-m1;‰b|_|_;u;t†bu;l;m|vo=|_;olr-mb;v1|oĺƏƕo=ƑƏƏƕĺ

Roschen Perera
uo†r_b;= bm-m1b-ѴL1;u
$_;o-u7o= bu;1|ouvbvu;vromvb0Ѵ;=ou|_;ru;r-u-ঞom-m7ru;v;m|-ঞomo=|_;v; bm-m1b-Ѵ"|-|;l;m|vĺ"b]m;7=ou-m7om0;_-Ѵ=o=
|_;o-u70‹ķ

H. Z. Cassim A. M. de S. Jayaratne
bu;1|ou bu;1|ou
$_;-11o†mঞm]roѴb1b;v-m7mo|;vomr-];vѵƕ|_uo†]_ƐƐƕ=oul-mbm|;]u-Ѵr-u|o=|_; bm-m1b-Ѵ"|-|;l;m|vĺ
25 February 2016
Colombo
 63
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

Statement of3URˉWRU/RVV
Year ended 31 December 2015

Group Company
Note 2015 2014 2015 2014
Rs. !vĺ Rs. !vĺ

!;m|-Ѵ!;ˆ;m†; 3 ƐķƖѵƑķƓѶƐķƓƖƓ 1,764,445,362 ƐķƖѵƑķƓѶƐķƓƖƓ 1,764,445,362

Sale of Apartments ƖƕƒķƔѶƔķƖƒƖ 4,329,204,511 Ŋ -
Other Services 4 ƑƏƓķƔƖѶķѵƕѶ 104,065,154 ƓѵķƓѶѶķƖƖѶ 54,040,648
$o|-Ѵ!;ˆ;m†; 3 ƒķƐƓƏķѵѵѵķƐƐƐ 6,197,715,027 ƑķƏƏѶķƖƕƏķƓƖƑ 1,818,486,010

bu;1|r;u-ঞm]Šr;mv;v ŐƔƓѶķƒƔѵķѶѶƐő (481,522,100) ŐƓƑƐķƓƒƕķƓѵƕő (424,771,995)

Cost of Sales of Apartments ŐѵƔƑķѵƑƒķƒѵƐő (3,308,320,133) Ŋ -
uovvuoC| ƐķƖƒƖķѵѶƔķѶѵƖ 2,407,872,794 ƐķƔѶƕķƔƒƒķƏƑƔ 1,393,714,015

Fair Value Gain on Investment Property 5 ƐķƐƕƓķƔƒѶķƐƖƏ 1,015,557,962 ƐķƐƕƓķƔƒѶķƐƖƏ 1,015,557,962

7lbmbv|u-ঞomŠr;mv;v ŐƑѵƔķƒƖƓķѶƖѵő (220,841,508) ŐƐѵƑķƏƔƓķƕƑƖő (152,013,163)
-uh;ঞm]-m7uoloঞom-ѴŠr;mv;v ŐƒƖķƐƏƔķƕƔƐő (45,554,839) Ŋ -
r;u-ঞm]uoC| ƑķѶƏƖķƕƑƒķƓƐƑ 3,157,034,409 ƑķѵƏƏķƏƐѵķƓѶѵ 2,257,258,814

Finance Cost ƑƑĺƐ ŐƐƑķƒƒƖķƑƕƐő (32,571,014) ŐƔķƐƓƏķƏƒƏő (29,874,649)

Finance Income ƑƑĺƑ ƐѶƐķƔƕƑķƖƔѶ 187,400,848 ƐƕƒķƑƖѶķƏƕƕ 177,699,206
Other Income ƑƑĺƒ ѶƓķƑѶƖķƐѶƐ 64,346,923 ƐƐƔķƖƔƖķƑƓƓ 74,295,453
Š1_-m];-bm ƖķѵѵƓķƕƖƏ 10,212,200 ƔķѶѶƕķƓƖѶ 825,997
uoC|;=ou;$-Š 23 ƒķƏƕƑķƖƐƐķƏƕƏ 3,386,423,366 ƑķѶƖƏķƏƑƐķƑƕƔ 2,480,204,821

m1ol;$-Š ƑƓĺƐ ŐƓƑķƏƔƕķѵƓƒő (50,487,289) ŐƑƒķƑƏƖķƏƑѵő (45,316,727)

uoC|-[;u$-Š=ou|_;+;-u ƒķƏƒƏķѶƔƒķƓƑƕ 3,335,936,077 ƑķѶѵѵķѶƐƑķƑƓƖ 2,434,888,094

‚ub0†|-0Ѵ;|oĹ  
Equity Holders of the Parent 2,990,698,564 2,957,045,507
omŊ1om|uoѴѴbm]m|;u;v| 40,154,863 378,890,570
3,030,853,427 3,335,936,077

-umbm]v;u"_-u;Ŋ-vb1ņ bѴ†|;7 25 ƒĺƓƓ ƒĺƓѶ

bˆb7;m7;u"_-u; 20 ƐĺƔƏ ƐĺƓƔ

$_;-11o†mঞm]roѴb1b;v-m7mo|;vomr-];vѵƕ|_uo†]_ƐƐƕ=oul-mbm|;]u-Ѵr-u|o=|_; bm-m1b-Ѵ"|-|;l;m|vĺ
64 INSPIRING
GENERATIONS

Statement of Comprehensive Income

Year ended 31 December 2015

Group Company
Note 2015 2014 2015 2014
Rs. !vĺ Rs. !vĺ

uoC| ou|_;+;-u ƒķƏƒƏķѶƔƒķƓƑƕ 3,335,936,077 ƑķѶѵѵķѶƐƑķƑƓƖ 2,434,888,094

|_;uolru;_;mvbˆ;m1ol;Ĺ
|;lv|_-|‰bѴѴmo|0;u;1Ѵ-vvbC;7|o
ruoC|ouѴovvĹ

!;ˆ-Ѵ†-ঞomo=†bѴ7bm]v ƐƓĺƐ ƒƒķƔƕƑķƔѶƒ 25,648,180 ƐƖķƔƔѶķƔƔѵ 25,648,180

;=;uu;7$-Š@;1| ŐƑķƐѶƏķƏƐѵő - Ŋ -
ƒƐķƒƖƑķƔѵƕ 25,648,180 ƐƖķƔƔѶķƔƔѵ 25,648,180
1|†-ub-Ѵ-bmvņŐovv;vőom ;Cm;7
;m;C|Ѵ-mv 16 ƐķƏƖƏķƖѵƔ (8,112,102) ŐƔƐƒķƑƑƓő (634,969)
;=;uu;7$-Š@;1| ŐѶѵѵķƖƏƒő 2,105,955 Ŋ Ŋ
ƑƑƓķƏѵƑ (6,006,147) ŐƔƐƒķƑƑƓő (634,969)
ƒƐķѵƐѵķѵƑƖ 19,642,033 ƐƖķƏƓƔķƒƒƑ 25,013,211
|_;uolru;_;mvbˆ;m1ol;=ou|_;
+;-uķ;|o=$-Š ƒƐķѵƐѵķѵƑƖ 19,642,033 ƐƖķƏƓƔķƒƒƑ 25,013,211

$o|-Ѵolru;_;mvbˆ;m1ol;=ou|_;
+;-uķ;|o=$-Š ƒķƏѵƑķƓƕƏķƏƔѵ 3,355,578,110 ƑķѶѶƔķѶƔƕķƔѶƐ 2,459,901,305

‚ub0†|-0Ѵ;|oĹ
Equity Holders of the Parent ƒķƏƐѶķѵƕƓķƐƐƔ 2,976,687,540
omŊ1om|uoѴѴbm]m|;u;v| ƓƒķƕƖƔķƖƓƐ 378,890,570
ƒķƏѵƑķƓƕƏķƏƔѵ 3,355,578,110

$_;-11o†mঞm]roѴb1b;v-m7mo|;vomr-];vѵƕ|_uo†]_ƐƐƕ=oul-mbm|;]u-Ѵr-u|o=|_; bm-m1b-Ѵ"|-|;l;m|vĺ
Group "|-|;7 !;ˆ-Ѵ†-ঞom !;|-bm;7 omŊ1om|uoѴѴbm] $o|-Ѵ
-rb|-Ѵ Reserve -umbm]v $o|-Ѵ m|;u;v| t†b|‹
Note !vĺ !vĺ !vĺ !vĺ !vĺ !vĺ
-Ѵ-m1;-v-|Ɛ-m†-u‹ƑƏƐƓ 10,186,085,405 238,875,211 13,749,921,664 24,174,882,280 1,147,341,548 25,322,223,828
uoC|=ou|_;+;-u - - 2,957,045,507 2,957,045,507 378,890,570 3,335,936,077
Other Comprehensive Income for the Year - 25,648,180 (6,006,147) 19,642,033 - 19,642,033
Dividends Paid for Ordinary Shares for
+ņƒƐņƐƑņƑƏƐƒ 20 - - (1,223,052,321) (1,223,052,321) - (1,223,052,321)
Subsidiary Dividends Paid for Non
1om|uoѴѴbm]bm|;u;v|=ou+ņƒƐņƐƑņƑƏƐƒ - - - - (18,750,000) (18,750,000)
Year ended 31 December 2015

-Ѵ-m1;-v-|ƒƐ ;1;l0;uƑƏƐƓ 10,186,085,405 264,523,391 15,477,908,704 25,928,517,500 1,507,482,118 27,435,999,618

"†r;u-bm$-Š-b7 ƑĺƒĺƐѵ - - (47,079,857) (47,079,857) (1,933,372) (49,013,229)
uoC|=ou|_;+;-u - - 2,990,698,564 2,990,698,564 40,154,863 3,030,853,427
Other Comprehensive Income for the Year - 26,658,963 1,316,588 27,975,550 3,641,078 31,616,629
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

Issue of Ordinary Shares 13 976,666,108 - - 976,666,108 - 976,666,108

$u-mv-1ঞomov|!;Ѵ-ঞm]|o"_-u;vv†; - - (6,556,629) (6,556,629) - (6,556,629)
Dividends Paid for Ordinary Shares for
+ņƒƐņƐƑņƑƏƐƓ 20 - - (1,265,226,539) (1,265,226,539) - (1,265,226,539)
Subsidiary Dividends Paid for Non
- - - - (37,500,000) (37,500,000)
Statement of Changes In Equity

1om|uoѴѴbm]bm|;u;v|=ou+ņƒƐņƐƑņƑƏƐƓ
-Ѵ-m1;-v-|ƒƐ ;1;l0;uƑƏƐƔ ƐƐķƐѵƑķƕƔƐķƔƐƒ ƑƖƐķƐѶƑķƒƔƓ ƐƕķƐƔƐķƏѵƏķѶƒƐ ƑѶķѵƏƓķƖƖƓķѵƖѶ ƐķƔƐƐķѶƓƓķѵѶƕ ƒƏķƐƐѵķѶƒƖķƒѶƔ

Company "|-|;7 !;ˆ-Ѵ†-ঞom !;|-bm;7 $o|-Ѵ

-rb|-Ѵ Reserve -umbm]v
Note !vĺ !vĺ !vĺ !vĺ
-Ѵ-m1;-v-|Ɛ-m†-u‹ƑƏƐƓ 10,186,085,405 238,875,211 13,230,443,943 23,655,404,559
uoC|=ou|_;+;-u - - 2,434,888,094 2,434,888,094
Other Comprehensive Income for the Year - 25,648,180 (634,969) 25,013,211
bˆb7;m7v-b7omu7bm-u‹"_-u;v=ou+ņƒƐņƐƑņƑƏƐƒ 20 - - (1,223,052,321) (1,223,052,321)
-Ѵ-m1;-v-|ƒƐ ;1;l0;uƑƏƐƓ 10,186,085,405 264,523,391 14,441,644,747 24,892,253,543
"†r;u-bm$-Š-b7 ƑĺƒĺƐѵ - - (43,660,263) (43,660,263)
uoC|=ou|_;+;-u - - 2,866,812,249 2,866,812,249
Other Comprehensive Income for the Year - 19,558,556 (513,224) 19,045,332
Issue of Ordinary Shares 13 976,666,108 - - 976,666,108
$u-mv-1ঞomov|!;Ѵ-ঞm]|o"_-u;vv†; - - (6,556,629) (6,556,629)
bˆb7;m7v-b7omu7bm-u‹"_-u;v=ou+ņƒƐņƐƑņƑƏƐƓ 20 - - (1,265,226,539) (1,265,226,539)
-Ѵ-m1;-v-|ƒƐ ;1;l0;uƑƏƐƔ ƐƐķƐѵƑķƕƔƐķƔƐƒ ƑѶƓķƏѶƐķƖƓƕ ƐƔķƖƖƑķƔƏƏķƒƓƐ ƑƕķƓƒƖķƒƒƒķѶƏƐ
65

$_;-11o†mঞm]roѴb1b;v-m7mo|;vomr-];vѵƕ|_uo†]_ƐƐƕ=oul-mbm|;]u-Ѵr-u|o=|_; bm-m1b-Ѵ"|-|;l;m|vĺ
66 INSPIRING
GENERATIONS

Statement of Cash Flows

Year ended 31 December 2015

Group Company
Note 2015 2014 2015 2014
Rs. !vĺ Rs. !vĺ
-v_ Ѵo‰v=uolr;u-ঞm]1ঞˆbঞ;vĹ
uoC|;=ou;$-ŠŠr;mv; ƒķƏƕƑķƖƐƐķƏƕƏ 3,386,423,366 ƑķѶƖƏķƏƑƐķƑƕƔ 2,480,204,821
7f†v|l;m|v=ouŊ
;ru;1b-ঞom_-u];=ou|_;+;-u 6 ƒƏķƔƐѶķƓѶƏ 11,402,406 ƐƏķѵƒƕķƕƔƒ 7,790,129
;ru;1b-ঞom$u-mv=;uu;7|omˆ;m|oub;v ѵĺƕ Ŋ 866,333 Ŋ -
louঞŒ-ঞomo=m|-m]b0Ѵ;vv;|v 7 ƐķƓƕƏķƑƔƑ 5,268,799 ƐķƓƕƏķƑƔƑ 5,268,799
ov|lrѴo‹l;m|;m;C|Šr;mv; 16 ѵķƓƕƕķѵƔƔ 4,421,922 ƑķƕѶƓķѵƑƐ 1,959,666
Finance Cost ƑƑĺƐ ƐƑķƒƒƖķƑƕƐ 32,571,014 ƔķƐƓƏķƏƒƏ 29,874,649
Finance Income Received ƑƑĺƑ ŐƐѶƐķƔƕƑķƖƔѶő (187,400,848) ŐƐƕƒķƑƖѶķƏƕƕő (177,699,206)
ŐuoC|őņovvom bvrov-Ѵo=uor;u|‹ķѴ-m|-m7t†brl;m| ŐƔķƖƔƑķƕƑƐő - ŐƔķƖƔƑķƕƑƐő -
Fair Value (Gain) on Investment Property 5 ŐƐķƐƕƓķƔƒѶķƐƖƏő (1,015,557,962) ŐƐķƐƕƓķƔƒѶķƐƖƏő (1,015,557,962)
r;u-ঞm]uoC|0;=ou;)ouhbm]-rb|-Ѵ_-m];v ƐķƕѵƐķѵƔƑķѶƔƖ 2,237,995,030 ƐķƔƔѵķƑѵƓķƖƓƒ 1,331,840,896
Őm1u;-v;őņ ;1u;-v;bmlo†m|v7†;=uol!;Ѵ-|;7-uঞ;v ƕķѵѵƖķѶƏƒ 16,201,731 ƑķƑƐƓķƑƖƖ 39,778,850
Őm1u;-v;őņ ;1u;-v;bm$u-7;-m7|_;u!;1;bˆ-0Ѵ;v ƓѶѵķƔƒƖķƓƑѶ 69,590,657 ŐѵƕķƖƓƑķƖѶƕő (15,469,346)
m1u;-v;ņŐ ;1u;-v;őbm!;m|-Ѵ-m7†v|ol;u ;rovb|v ƑƖƓķƏƐƖķƓƕƏ (984,251,474) ƒƓķƕƕƐķƐƕƔ 117,491,837
Őm1u;-v;őņ ;1u;-v;bmmˆ;m|oub;v ŐѶƔķƐƕƒķƑѵƏő 2,085,642,208 ƒķѵƐƓķƔѶƒ 941,737
m1u;-v;ņŐ ;1u;-v;őbm$u-7;-m7|_;u-‹-0Ѵ;v ŐƓƒķƏƔƕķƖƏƔő (769,089,416) ŐƓķƖƖƐķƒѶƑő (52,548,037)
m1u;-v;ņŐ ;1u;-v;őbmlo†m|v7†;|o!;Ѵ-|;7-uঞ;v ƑƐķƐƕƐķƏƓƐ (19,567,306) ƐƖķƕƕѶķѶƖƏ (18,416,603)
-v_;m;u-|;7=uolr;u-ঞomv ƑķƓƓƑķѶƑƐķƓƒѵ 2,636,521,430 ƐķƔƓƒķƕƏƖķƔƑƐ 1,403,619,334
m1ol;$-Š-b7 ŐѵƐķѶƒƑķѵƏѵő (61,048,755) ŐƓƒķƐƐƓķƑƑѵő (49,288,774)
Finance Cost Paid ƑƑĺƐ ŐƐƑķƒƒƖķƑƕƐő (32,571,014) ŐƔķƐƓƏķƏƒƏő (29,874,648)
;Cm;7;m;C|Ѵ-mov|v-b7 16 ŐƐƔƏķƑƔƔő (1,399,900) Ŋ (947,810)
;|-v_;m;u-|;7=uolr;u-ঞm]1ঞˆbঞ;v ƑķƒѵѶķƓƖƖķƒƏƓ 2,541,501,761 ƐķƓƖƔķƓƔƔķƑѵƔ 1,323,508,101
-v_ Ѵo‰v=uolmˆ;vঞm]1ঞˆbঞ;vĹ
Proceeds from Sale of Property, Plant and Equipment ƔķƖƔƑķƕƑƐ - ƔķƖƔƑķƕƑƐ -
1t†bvbঞomo=m|-m]b0Ѵ;vv;|v ƕĺƓ Ŋ (1,334,388) Ŋ (1,334,388)
1t†bvbঞomo=uor;u|‹Ѵ-m|-m7t†brl;m| 6 ŐƒƔķƖƒƖķѶƖƔő (126,339,415) ŐƐѵķƔƔƕķƖƐƑő (9,688,212)
1t†bvbঞomo=mˆ;v|l;m| ƐƔĺƐ ŐѵƏƖķѵƏƖķƏƓƔő (840,170,452) ŐѵƏƖķѵƏƖķƏƓƔő (840,170,452)
Finance Income Received ѶƓķƑƏƔķѶƐѶ 108,578,990 ƕƔķƖƒƏķƖƒƕ 98,877,347
;|-v_=uolmˆ;vঞm]1ঞˆbঞ;v ŐƔƔƔķƒƖƏķƓƏƐő (859,265,265) ŐƔƓƓķƑѶƒķƑƖƖő (752,315,705)
-v_ Ѵo‰v=uol bm-m1bm]1ঞˆbঞ;vĹ
!;r-‹l;m|o=m|;u;v|;-ubm]o-mv-m7ouuo‰bm]v ƐƔĺƑ ŐƖƕƏķƔƏƓķƏƏƏő (1,485,604,000) ŐƔƏķƏƏƓķƏƏƏő (50,004,000)
Loans Obtained ƐƔĺƑ Ŋ 523,500,000 Ŋ -
Dividends Paid ŐƐķƒƏƐķƒƑѶķѶƖƏő (1,239,382,959) ŐƐķƑѵƒķѶƑѶķѶƖƏő (1,220,632,959)
uo1;;7v=uolvv†;o="_-u;vŐ!b]_|vvv†;ő ƐƒĺƐ ƖƕѵķѵѵѵķƐƏѶ - ƖƕѵķѵѵѵķƐƏѶ -
bu;1|Šr;mv;v!;Ѵ-|;7|o!b]_|vvv†; ŐѵķƔƔѵķѵƑƖő Ŋ ŐѵķƔƔѵķѵƑƖő Ŋ
;|-v_ Ѵo‰=uolņŐ†| Ѵo‰ő bm-m1bm]1ঞˆbঞ;v ŐƐķƒƏƐķƕƑƒķƓƐƐő (2,201,486,959) ŐƒƓƒķƕƑƒķƓƐƐő (1,270,636,958)
;|m1u;-v;ņŐ ;1u;-v;őbm-v_-m7-v_t†bˆ-Ѵ;m|v ƔƐƐķƒѶƔķƓƖƑ (519,250,463) ѵƏƕķƓƓѶķƔƔƔ (699,444,562)
-v_-m7-v_t†bˆ-Ѵ;m|v-||_;;]bmmbm]o=|_;+;-u 21 ƐķƐƔƓķƕƐƒķѵƑƔ 1,673,964,088 ƕƖƑķѶƒѵķƐѵƕ 1,492,280,729
-v_-m7-v_t†bˆ-Ѵ;m|v-||_;m7o=|_;+;-u 21 ƐķѵѵѵķƏƖƖķƐƐƕ 1,154,713,625 ƐķƓƏƏķƑѶƓķƕƑƑ 792,836,167

$_;-11o†mঞm]roѴb1b;v-m7mo|;vomr-];vѵƕ|_uo†]_ƐƐƕ=oul-mbm|;]u-Ѵr-u|o=|_;
bm-m1b-Ѵ"|-|;l;m|vĺ

OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015
Notes to the Financial Statements
Year ended 31 December 2015
Ɛĺ !!$
!$ Ɛĺƒ -u;m|mঞ|‹-m7&Ѵঞl-|;1om|uoѴѴbm]r-u|‹
ƐĺƐ ;m;u-Ѵ
 ˆ;uv;-v !;-Ѵ|‹ Ő;‹Ѵomő  Őľolr-m‹Ŀő bv
- †0Ѵb1 †o|;7 olr-m‹ ‰b|_ Ѵblb|;7 Ѵb-0bѴb|‹
bm1ourou-|;7 -m7 7olb1bѴ;7 bm "ub -mh-ĺ $_;
u;]bv|;u;7 oL1; o= |_; olr-m‹ bv Ѵo1-|;7 -|
;ˆ;Ѵ Ų ƐѶŊƏƐķ -v|$o‰;uķ)ouѴ7$u-7; ;m|;uķ
oѴol0o ƏƐķ ‰_b1_ bv |_; rubm1br-Ѵ rѴ-1; o= b|v
0†vbm;vvĺ
ƐĺƑ ubm1br-Ѵ1ঞˆbঞ;v-m7-|†u;o=r;u-ঞomv
;0u†-u‹ƑƏƐѵĺ
 †ubm] |_; ‹;-uķ |_; rubm1br-Ѵ -1ঞˆbঞ;v o= |_;
olr-m‹ ‰;u; ruor;u|‹ ;-vbm]ķ ruor;u|‹
!!$
v;uˆb1;vĺ
 bu;h--rb|-Ѵ-m7Őubˆ-|;őblb|;7ķ-v†0vb7b-u‹ķ
bv;m]-];7bmr†u1_-vbm]ķ_bubm]-m7-1t†bubm]u;-Ѵ
!"
;v|-|; ruor;uঞ;vķ u;-Ѵ ;v|-|; 7;ˆ;Ѵorl;m| -m7
!"Ŀő-vbvv†;7
ruoˆb7bm]bm=u-v|u†1|†u;=-1bѴbঞ;v|o|_;-ˆ;Ѵo1h
b|‹7;ˆ;Ѵorl;m|ruof;1|ĺ
 bu;h-ol;vŐubˆ-|;őblb|;7ķ-v†0Ŋv†0vb7b-u‹ķ
bv ;m]-];7 bm 1omv|u†1ঞm] -m7 7;ˆ;Ѵorbm] |_;
Havelock City condominium development and
related infrastructure and is involved in the sale,
Ѵ;-v;ķ l-m-];l;m| ou -m‹ vblbѴ-u |u-mv-1ঞomv
in respect of the same and any other business
carried on by land investment, land development
-m7u;-Ѵ;v|-|;1olr-mb;vĺ
 !;-Ѵ|‹ -m-];l;m| ";uˆb1;v Őubˆ-|;ő blb|;7ķ
- v†0vb7b-u‹ķ bv ;m]-];7 bm ruoˆb7bm] -0v;m|;;
Ѵ-m7Ѵou7 l-m-];l;m| om 0;_-Ѵ= o= b|v o‰m;uvķ
-];m1‹ v;uˆb1;vķ ruoˆb7bm] =-1bѴb|‹ l-m-];l;m|
v;uˆb1;v-m7|u-7bm]o=Ѵb]_ঞm]voѴ†ঞomvĺ
Other subsidiaries of the Company have not been
or;u-ঞom-Ѵ7†ubm]|_;‹;-uĺ
67
In the opinion of the Directors, the Company’s
r-u;m| ;mঞ|‹ bv |_; "_bm] ‰-m uo†r
_;-7t†-u|;u;7 bm "bm]-rou; -m7 uĺ "_bm] ;;
$-obv|_;†Ѵঞl-|;1om|uoѴѴbm]r-u|‹ĺ
ƐĺƓ -|;o=†|_oubŒ-ঞom=ouvv†;
The Financial Statements of Overseas Realty
(Ceylon) PLC for the year ended 31 December
ƑƏƐƔ ‰;u; -†|_oubv;7 =ou bvv†; bm -11ou7-m1;
‰b|_-u;voѴ†ঞomo=|_;o-u7o= bu;1|ouvomƑƔ
Ƒĺ ""
The Consolidated Financial Statements of the
olr-m‹_-ˆ;0;;mru;r-u;7bm-11ou7-m1;‰b|_
"ub-mh-11o†mঞm]"|-m7-u7v1olrubvbm]"
-m7"Ő_;u;-[;uu;=;uu;7-vľ"
0‹ |_; mvঞ|†|; o= _-u|;u;711o†m|-m|v o= "ub
-mh-Ő"ub-mh-őĺ
 $_; 1omvoѴb7-|;7 Cm-m1b-Ѵ v|-|;l;m|v _-ˆ;
0;;m ru;r-u;7 om - _bv|oub1-Ѵ 1ov| 0-vbvķ ;Š1;r|
=ou bmˆ;v|l;m| ruor;uঞ;vķ 0†bѴ7bm]v 1Ѵ-vvbC;7
as property, plant and equipment, short term
investments that have been measured at fair
ˆ-Ѵ†;ĺ
These Financial Statements are presented in Sri
-mh-m!†r;;vĺ$_;ru;r-u-ঞom-m7ru;v;m|-ঞom
of these Financial Statements are in compliance
‰b|_|_;olr-mb;v1|oĺƏƕo=ƑƏƏƕĺ
ƑĺƐĺƐ _-m];vbm11o†mঞm]oѴb1b;v
 $_; -11o†mঞm] roѴb1b;v -7or|;7 -u; 1omvbv|;m|
‰b|_|_ov;o=|_;ru;ˆbo†v‹;-uĺ
ƑĺƐĺƑ omvoѴb7-ঞomoѴb1b;v
 $_; 1omvoѴb7-|;7 Cm-m1b-Ѵ v|-|;l;m|v 1olrubv;
|_; Cm-m1b-Ѵ v|-|;l;m|v o= |_; uo†r -m7 b|v
v†0vb7b-ub;v -v -| |_; u;rouঞm] 7-|;ĺ om|uoѴ bv
68 INSPIRING
GENERATIONS
Notes to the Financial Statements
Year ended 31 December 2015
-1_b;ˆ;7‰_;m|_;uo†rbv;Šrov;7ķou_-vub]_|vķ
|oˆ-ub-0Ѵ;u;|†umv=uolb|vbmˆoѴˆ;l;m|‰b|_|_;
bmˆ;v|;;-m7_-v|_;-0bѴb|‹|o-@;1||_ov;u;|†umv
|_uo†]_b|vro‰;uoˆ;u|_;bmˆ;v|;;ĺ  ovv;v ‰b|_bm - v†0vb7b-u‹ -u; -‚ub0†|;7 |o |_;
 "r;1bC1-ѴѴ‹ķ|_;uo†r1om|uoѴv-mbmˆ;v|;;b=-m7
omѴ‹b=|_;uo†r_-vĹ
 1_-m];bm|_;o‰m;uv_brbm|;u;v|o=-v†0vb7b-u‹ķ
Ŏ o‰;u oˆ;u |_; bmˆ;v|;; Őbĺ;ĺ ;Šbvঞm] ub]_|v |_-|
]bˆ; b| |_; 1†uu;m| -0bѴb|‹ |o 7bu;1| |_; u;Ѵ;ˆ-m|
-1ঞˆbঞ;vo=|_;bmˆ;v|;;ő
Ŏ Šrov†u;ķ ou ub]_|vķ |o ˆ-ub-0Ѵ; u;|†umv =uol b|v Ŏ
bmˆoѴˆ;l;m|‰b|_|_;bmˆ;v|;;ķ-m7
Ŏ $_;-0bѴb|‹|o†v;b|vro‰;uoˆ;u|_;bmˆ;v|;;|o Ŏ
-@;1|b|vu;|†umv
When the Group has less than a majority of the Ŏ
ˆoঞm]ouvblbѴ-uub]_|vo=-mbmˆ;v|;;ķ|_;uo†r
considers all relevant facts and circumstances in
-vv;vvbm]‰_;|_;ub|_-vro‰;uoˆ;u-mbmˆ;v|;;ķ Ŏ
bm1Ѵ†7bm]Ĺ
Ŏ $_;1om|u-1|†-Ѵ-uu-m];l;m|‰b|_|_;o|_;uˆo|; Ŏ
holders of the investee
Ŏ !b]_|v-ubvbm]=uolo|_;u1om|u-1|†-Ѵ-uu-m];l;m|v Ŏ
Ŏ $_; uo†rĽv ˆoঞm] ub]_|v -m7 ro|;mঞ-Ѵ ˆoঞm] Ŏ
ub]_|v
 $_;uo†ru;Ŋ-vv;vv;v‰_;|_;uoumo|b|1om|uoѴv
an investee if facts and circumstances indicate
|_-| |_;u; -u; 1_-m];v |o om; ou lou; o= |_;
|_u;; ;Ѵ;l;m|v o= 1om|uoѴĺ omvoѴb7-ঞom o= -
v†0vb7b-u‹0;]bmv‰_;m|_;uo†ro0|-bmv1om|uoѴ  $_;=oѴѴo‰bm]1olr-mb;v_-ˆ;0;;m1omvoѴb7-|;7ĺ
oˆ;u |_; v†0vb7b-u‹ -m7 1;-v;v‰_;m |_; uo†r
Ŋ
Ѵov;v 1om|uoѴ o= |_; v†0vb7b-u‹ĺvv;|vķ Ѵb-0bѴbঞ;vķ
bm1ol;-m7;Šr;mv;vo=-v†0vb7b-u‹-1t†bu;7ou
Ŋ
7bvrov;7 o= 7†ubm] |_; ‹;-u -u; bm1Ѵ†7;7 bm |_;
statement of comprehensive income from the Ŋ
7-|; |_; uo†r ]-bmv 1om|uoѴ †mঞѴ |_; 7-|; |_;
uo†r1;-v;v|o1om|uoѴ|_;v†0vb7b-u‹ĺ
Ŋ
 $_; Cm-m1b-Ѵ v|-|;l;m|v o= |_; v†0vb7b-ub;v -u;
ru;r-u;7 =ou |_; v-l; u;rouঞm] r;ubo7 -v |_;
r-u;m| 1olr-m‹ķ †vbm] 1omvbv|;m| -11o†mঞm] Ŋ
roѴb1b;vĺ ѴѴ bm|u-Ŋ]uo†r 0-Ѵ-m1;vķ |u-mv-1ঞomvķ
†mu;-Ѵbv;7 ]-bmv -m7 Ѵovv;v u;v†Ѵঞm] =uol bm|u-Ŋ - Havelock City (Private) Limited (Sub-Subsidiary)
]uo†r |u-mv-1ঞomv -m7 7bˆb7;m7v -u; ;Ѵblbm-|;7
bm=†ѴѴĺ
momŊ1om|uoѴѴbm] bm|;u;v| ;ˆ;m b= |_-| u;v†Ѵ|v bm -
7;C1b|0-Ѵ-m1;ĺ
‰b|_o†|-Ѵovvo=1om|uoѴķbv-11o†m|;7=ou-v-m
;t†b|‹|u-mv-1ঞomĺ=|_;uo†rѴov;v1om|uoѴoˆ;u
-v†0vb7b-u‹ķb|Ĺ
;u;1o]mbv;v|_;-vv;|vŐbm1Ѵ†7bm]]oo7‰bѴѴő-m7
Ѵb-0bѴbঞ;vo=|_;v†0vb7b-u‹
;u;1o]mbv;v |_; 1-uu‹bm] -lo†m| o= -m‹ momŊ
1om|uoѴѴbm]bm|;u;v|v
;u;1o]mbv;v |_; 1†l†Ѵ-ঞˆ; |u-mvѴ-ঞom
7b@;u;m1;vu;1ou7;7bm;t†b|‹
!;1o]mbv;v |_; =-bu ˆ-Ѵ†; o= |_; 1omvb7;u-ঞom
received
!;1o]mbv;v |_; =-bu ˆ-Ѵ†; o= -m‹ bmˆ;v|l;m|
retained
!;1o]mbv;v-m‹v†urѴ†vou7;C1b|bmruoC|ouѴovv
!;1Ѵ-vvbC;v |_; r-u;m|Ľv v_-u; o= 1olrom;m|v
ru;ˆbo†vѴ‹ u;1o]mbv;7 bm |_;u olru;_;mvbˆ;
m1ol; |o ruoC| ou Ѵovv ou u;|-bm;7 ;-umbm]vķ -v
-rruorub-|;ķ -v ‰o†Ѵ7 0; u;t†bu;7 b= |_; uo†r
had directly disposed of the related assets or
Ѵb-0bѴbঞ;vĺ
bu;h--rb|-Ѵ-m7Őubˆ-|;őblb|;7Ő"†0vb7b-u‹ő
bu;h-ol;vŐubˆ-|;őblb|;7Ő"†0Ŋv†0vb7b-u‹ő
!;-Ѵ|‹ -m-];l;m| ";uˆb1;v Őubˆ-|;ő blb|;7
(Subsidiary)
ovrb|-Ѵb|‹ m|;um-ঞom-Ѵ Őubˆ-|;ő blb|;7
(Subsidiary)
uor;u|‹-u|Őubˆ-|;őblb|;7Ő"†0vb7b-u‹ő

OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015
Ŋ bu;h- !;vb7;m1b;v Őubˆ-|;ő blb|;7
(Sub-subsidiary)
Ŋ bu;h-uor;u|‹Őubˆ-|;őblb|;7Ő"†0Ŋv†0vb7b-u‹ő
ƑĺƐĺƒ ";]l;m|!;rouঞm]
  0†vbm;vv v;]l;m| bv - ]uo†r o= -vv;|v -m7
or;u-ঞomv ;m]-];7 bm ruoˆb7bm] ruo7†1|v ou
services that are subject to risks and returns
|_-| -u; 7b@;u;m| =uol |_ov; o= o|_;u 0†vbm;vv
v;]l;m|vĺ$_;rubl-u‹v;]l;m|u;rouঞm]=oul-|
bv7;|;ulbm;7|o0;-0†vbm;vvv;]l;m|ĺ
ƑĺƑ "b]mbC1-m| 11o†mঞm] †7]l;m|vķ vঞl-|;v
-m7vv†lrঞomv
ƑĺƑĺƐ ubঞ1-Ѵ †7]l;m|v bm rrѴ‹bm] |_; 11o†mঞm]
oѴb1b;v
 m|_;ruo1;vvo=-rrѴ‹bm]|_;uo†rĽv-11o†mঞm]
roѴb1b;vķ l-m-];l;m| _-v l-7; |_; =oѴѴo‰bm]
f†7]l;m|vķ-r-u|=uol|_ov;bmˆoѴˆbm];vঞl-ঞomvķ
‰_b1_ _-v |_; lov| vb]mbC1-m| ;@;1| om |_;
-lo†m|vu;1o]mbŒ;7bm|_;
bm-m1b-Ѵ"|-|;l;m|vĺ  m u;1o]mbŒbm] u;ˆ;m†; =uol v-Ѵ; o= -r-u|l;m|vķ
Ő-ő Ѵ-vvbC1-ঞomo=uor;u|‹
 $_; uo†r 7;|;ulbm;v ‰_;|_;u - ruor;u|‹ bv
1Ѵ-vvbC;7-vmˆ;v|l;m|uor;u|‹ķo‰m;uo11†rb;7
ruor;u|‹oubmˆ;m|oub;vķ†vbm]vb]mbC1-m|f†7]l;m|
-v7bv1Ѵov;7bmo|;Ɣ-m7o|;ѵĺ
 mˆ;v|l;m|uor;u|‹1olrubv;vѴ-m7-m70†bѴ7bm]v
‰_b1_-u;mo|o11†rb;7v†0v|-mঞ-ѴѴ‹=ou†v;0‹ķou
bm|_;or;u-ঞomvo=|_;uo†rķmou=ouv-Ѵ;bm|_;
ordinary course of business, but are held primarily
|o;-umu;m|-Ѵbm1ol;-m71-rb|-Ѵ-rru;1b-ঞomĺ
 $_; uo†r 7;|;ulbm;v ‰_;|_;u - ruor;u|‹
t†-ѴbC;v -v mˆ;v|l;m| uor;u|‹ 0‹ 1omvb7;ubm]
‰_;|_;u|_;ruor;u|‹];m;u-|;v1-v_Yo‰vѴ-u];Ѵ‹
independently of the other assets held by the
;mঞ|‹ĺ‰m;uŊo11†rb;7ruor;uঞ;v];m;u-|;1-v_
Yo‰v |_-| -u; -‚ub0†|-0Ѵ; mo| omѴ‹ |o ruor;u|‹
0†|-Ѵvo|oo|_;u-vv;|v†v;7bm|_;ruo7†1ঞomou
v†rrѴ‹ruo1;vvĺ
 "ol;ruor;uঞ;v1olrubv;-rouঞom|_-|bv_;Ѵ7|o
;-umu;m|-Ѵvou=ou1-rb|-Ѵ-rru;1b-ঞom-m7-mo|_;u
69
rouঞom|_-|bv_;Ѵ7=ou†v;bm|_;ruo7†1ঞomou
v†rrѴ‹o=]oo7vouv;uˆb1;vou=ou-7lbmbv|u-ঞˆ;
r†urov;vĺ=|_;v;rouঞomv1-m0;voѴ7v;r-u-|;Ѵ‹
Őou Ѵ;-v;7 o†| v;r-u-|;Ѵ‹ †m7;u - Cm-m1; Ѵ;-v;őķ
|_; uo†r -11o†m|v =ou |_; rouঞomv v;r-u-|;Ѵ‹ĺ
= |_; rouঞomv 1-mmo| 0; voѴ7 v;r-u-|;Ѵ‹ķ |_;
property is accounted for as Investment Property
omѴ‹ b= -m bmvb]mbC1-m| rouঞom bv _;Ѵ7 =ou †v; bm
|_;ruo7†1ঞomouv†rrѴ‹o=]oo7vouv;uˆb1;vou
=ou-7lbmbv|u-ঞˆ;r†urov;vĺ†7]l;m|bv-rrѴb;7
bm 7;|;ulbmbm] ‰_;|_;u -m1bѴѴ-u‹ v;uˆb1;v -u; vo
vb]mbC1-m| |_-| - ruor;u|‹ 7o;v mo| t†-Ѵb=‹ -v
mˆ;v|l;m| uor;u|‹ĺ$_; uo†r 1omvb7;uv ;-1_
ruor;u|‹v;r-u-|;Ѵ‹bml-hbm]b|vf†7]l;m|ĺ
Inventory comprises property that is held for sale
bm|_;ou7bm-u‹1o†uv;o=0†vbm;vvĺubm1br-ѴѴ‹ķ|_bv
bv u;vb7;mঞ-Ѵ ruor;u|‹ |_-| |_; uo†r 7;ˆ;Ѵorv
-m7 bm|;m7v |o v;ѴѴ 0;=ou;ķ 7†ubm] -m7ņou om
1olrѴ;ঞomo=1omv|u†1ঞomĺ
Ő0ő !;ˆ;m†;u;1o]mbঞom=uolv-Ѵ;o=-r-u|l;m|v
l-m-];l;m|-rrѴb;vf†7]l;m|-v1;u|-bmbm]b=|_;
ubvhv -m7 u;‰-u7v o= o‰m;uv_br _-ˆ; r-vv;7 |o
|_; 0†‹;uvĺ m |_bv u;]-u7ķ l-m-];l;m| vo†]_|
ruo=;vvbom-ѴѴ;]-Ѵ-7ˆb1; bm 7;|;ulbmbm] |_;
robm| -| ‰_b1_ ;t†b|-0Ѵ; bm|;u;v| r-vv;v |o
|_; 0†‹;u -m7 -11ou7bm]Ѵ‹ u;1o]mbŒ;v u;ˆ;m†;
†m7;u |_; r;u1;m|-]; o= 1olrѴ;ঞom l;|_o7 -v
|_; uo†r 1omঞm†o†vѴ‹ |u-mv=;uv |o |_; 0†‹;u
vb]mbC1-m| ubvhv -m7 u;‰-u7v o= o‰m;uv_br o=
|_; ‰ouh bm ruo]u;vv bm b|v 1†uu;m| v|-|; -v |_;
1omv|u†1ঞomruo]u;vvĺ
Ő1ő ;=;uu;7$-Š-ঞom
 ;=;uu;7|-Š-ঞomommˆ;v|l;m|uor;u|‹
 vr;u|_;"ƐƑķ7;=;uu;7|-Šommˆ;v|l;m|
Property carried at fair value is required to be
l;-v†u;7 †vbm] - u;0†‚-0Ѵ; ru;v†lrঞom |_-|
|_; 1-uu‹bm] -lo†m| ‰bѴѴ 0; u;1oˆ;u;7 |_uo†]_
v-Ѵ;ĺ
The investment property of the company consists
o= =u;;_oѴ7 Ѵ-m7 -m7 0†bѴ7bm]vĺ )b|_ u;]-u7 |o
|_; 0†bѴ7bm]ķ |_; ru;v†lrঞom bv u;0†‚;7ķ -v
70 INSPIRING
GENERATIONS
Notes to the Financial Statements
Year ended 31 December 2015
the company’s business model is to consume
v†0v|-mঞ-ѴѴ‹-ѴѴ|_;;1omolb10;m;C|v;l0o7b;7
bm|_;0†bѴ7bm]oˆ;uঞl;ķu-|_;u|_-m|_o†]_v-Ѵ;ĺ
$_;1olrom;m|bmbmˆ;v|l;m|ruor;u|‹1olrubvbm]
Ѵ-m7 7o;v mo| 1u;-|; -m‹ |-Š 1omv;t†;m1;vķ -v
1†uu;m|Ѵ‹1-rb|-Ѵ]-bm|-Šbvmo|-rrѴb1-0Ѵ;=ouѴ-m7ĺ
 v7;v1ub0;7bmo|;Ƒĺƒĺƒķ|_;1olr-m‹;mfo‹v
|-Š ;Š;lrঞom v|-|†v †r |o |_; ‹;-u ƑƏƑƏķ -m7
|_;u;-[;uঞѴѴƑƏƒƔķ1olr-m‹‰bѴѴ0;|-Š;70-v;7
omb|v|†umoˆ;uĺ11ou7bm]Ѵ‹|;lrou-u‹7b@;u;m1;v
‰bѴѴ mo| -ubv; om |_; bmˆ;v|l;m| ruor;u|‹ †r |o
|_;‹;-uƑƏƒƔĺ
 m|_;;ˆ;m||_;0†bѴ7bm]1olrom;m|bvvoѴ7-[;u
|_; ‹;-u ƑƏƒƔķ b| ‰bѴѴ 1u;-|; |-Š 1omv;t†;m1;vĺ
o‰;ˆ;u|_;l-m-];l;m|0;Ѵb;ˆ;v|_;=-buˆ-Ѵ†;
o= |_; 0†bѴ7bm] 1olrom;m| o= |_; bmˆ;v|l;m|
ruor;u|‹ ‰bѴѴ mo| 0; l-|;ub-Ѵ -v - vb]mbC1-m|
ruorouঞom o= |_; †v;=†Ѵ Ѵb=; o= |_; 0†bѴ7bm] ‰bѴѴ
_-ˆ;0;;m1omv†l;70‹|_;lĺ
 -v;7 om |_; -0oˆ;ķ -m-];l;m| 0;Ѵb;ˆ;v |_-|
7;=;uu;7 |-Š bm u;vr;1| o= mˆ;v|l;m| uor;u|‹
‰bѴѴmo|0;l-|;ub-Ѵ|o|_;Cm-m1b-Ѵv|-|;l;m|vĺ
ƑĺƑĺƑ ubঞ1-Ѵ11o†mঞm]vঞl-|;v-m7vv†lrঞomv
 $_; h;‹ -vv†lrঞomv 1om1;umbm] |_; =†|†u; -m7
o|_;u h;‹ vo†u1;v o= ;vঞl-ঞom o= †m1;u|-bm|‹
-||_;u;rouঞm]7-|;ķ|_-|_-ˆ;-vb]mbC1-m|ubvh
o= 1-†vbm] l-|;ub-Ѵ -7f†v|l;m|v |o |_; 1-uu‹bm]
-lo†m|v o= -vv;|v -m7 Ѵb-0bѴbঞ;v‰b|_bm |_; m;Š|
Cm-m1b-Ѵ‹;-u-u;7bv1†vv;70;Ѵo‰ĺ$_;u;vr;1ঞˆ;
1-uu‹bm]-lo†m|vo=-vv;|v-m7Ѵb-0bѴbঞ;v-u;]bˆ;m
bmu;Ѵ-|;7mo|;v|o|_;
bm-m1b-Ѵ"|-|;l;m|vĺ ;-1_u;rouঞm]7-|;ĺ
Ő-ő vঞl-ঞomo==-buˆ-Ѵ†;o=mˆ;v|l;m|uor;uঞ;v
 $_;uo†r1-uub;vb|vmˆ;v|l;m|uor;uঞ;v-|=-bu
ˆ-Ѵ†;ķ‰b|_1_-m];vbm=-buˆ-Ѵ†;v0;bm]u;1o]mbv;7
bm|_;m1ol;"|-|;l;m|ĺ$_;uo†r;m]-];7-m
independent valuer to determine the fair value as
-|ƒƐ ;1;l0;uƑƏƐƔĺ
The best evidence of fair value is usually the
1†uu;m|rub1;bm-m-1ঞˆ;l-uh;|=ouvblbѴ-uѴ;-v;
-m7 o|_;u 1om|u-1|vĺ m |_; -0v;m1; o= v†1_
bm=oul-ঞomķ |_; uo†r 7;|;ulbm;v |_; -lo†m|
‰b|_bm-u-m];o=u;-vom-0Ѵ;=-buˆ-Ѵ†;;vঞl-|;vĺ
m l-hbm] v†1_ ;vঞl-|;vķ |_; uo†r 1omvb7;uv
bm=oul-ঞom=uol-ˆ-ub;|‹o=vo†u1;vbm1Ѵ†7bm]Ĺ
Őbő †uu;m|rub1;vbm-m-1ঞˆ;l-uh;|=ouruor;uঞ;vo=
7b@;u;m|m-|†u;ķ1om7bঞomouѴo1-ঞomŐouv†0f;1|
|o7b@;u;m|Ѵ;-v;ouo|_;u1om|u-1|vőķ-7f†v|;7|o
u;Y;1||_ov;7b@;u;m1;vĸ
Őbbő !;1;m| rub1;v o= vblbѴ-u ruor;uঞ;v bm Ѵ;vv -1ঞˆ;
l-uh;|vķ‰b|_-7f†v|l;m|v|ou;Y;1|-m‹1_-m];v
bm ;1omolb1 1om7bঞomv vbm1; |_; 7-|; o= |_;
|u-mv-1ঞomv|_-|o11†uu;7-||_ov;rub1;vĸ-m7
Őbbbő bv1o†m|;7 1-v_ Yo‰ ruof;1ঞomv 0-v;7 om
u;Ѵb-0Ѵ; ;vঞl-|;v o= =†|†u; 1-v_ Yo‰vķ 7;ubˆ;7
=uol |_; |;ulv o= -m‹ ;Šbvঞm] Ѵ;-v; -m7 o|_;u
1om|u-1|v -m7 Չ_;u; rovvb0Ѵ;ő =uol ;Š|;um-Ѵ
evidence such as current market rents for similar
ruor;uঞ;v bm |_; v-l; Ѵo1-ঞom -m7 1om7bঞomķ
-m7†vbm]1-rb|-ѴbŒ-ঞomu-|;v|_-|u;Y;1|1†uu;m|
market assessments of the returns and yields, and
†m1;u|-bm|‹bm|_;-lo†m|-m7ঞlbm]o=|_;1-v_
Yo‰vĺ
Ő0ő ubm1br-Ѵ-vv†lrঞomv=oul-m-];l;m|Ľv
;vঞl-ঞomo==-buˆ-Ѵ†;
 = bm=oul-ঞom om 1†uu;m| ou u;1;m| rub1;v o=
-vv†lrঞomv†m7;uѴ‹bm]|_;7bv1o†m|;71-v_Yo‰
-rruo-1_o=mˆ;v|l;m|uor;uঞ;vbvmo|-ˆ-bѴ-0Ѵ;ķ
|_; =-bu ˆ-Ѵ†;v o= mˆ;v|l;m| uor;uঞ;v -u;
7;|;ulbm;7†vbm]7bv1o†m|;71-v_Yo‰ˆ-Ѵ†-ঞom
|;1_mbt†;vĺ$_;uo†r†v;v-vv†lrঞomv|_-|-u;
l-bmѴ‹ 0-v;7 om l-uh;| 1om7bঞomv ;Šbvঞm] -|
 $_; rubm1br-Ѵ -vv†lrঞomv †m7;uѴ‹bm]
l-m-];l;m|Ľv;vঞl-ঞomo==-buˆ-Ѵ†;-u;|_ov;
u;Ѵ-|;7 |oĹ |_; =†|†u; u;m|-Ѵvķ l-bm|;m-m1;
u;t†bu;l;m|vķ-m7-rruorub-|;1-rb|-ѴbŒ-ঞomu-|;v
ņ‹b;Ѵ7v-m7ˆob7vĺ$_;v;ˆ-Ѵ†-ঞomv-u;u;]†Ѵ-uѴ‹
compared to actual market yield data and actual
|u-mv-1ঞomv0‹|_;uo†r-m7|_ov;u;rou|;70‹
|_;l-uh;|ĺ

OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015
The determined fair value of the Investment
uor;uঞ;v bv lov| v;mvbঞˆ; |o |_; 1-rb|-ѴbŒ-ঞom
u-|;ķ-mঞ1br-|;7l-bm|;m-m1;1ov|-v‰;ѴѴ-v|_;
u-|;o=]uo‰|_bm=†|†u;u;m|-Ѵv-v]bˆ;mbmo|;
ƔĺƑĺ
 $_;u;=ou;l-m-];l;m|_-v1-uub;7o†|-v;mvbঞˆb|‹
-m-Ѵ‹vbvbmu;Ѵ-ঞom|o|_;h;‹-vv†lrঞomv†v;7bm
ˆ-Ѵ†bm] |_; mˆ;v|l;m| uor;u|‹ -v 7bv1Ѵov;7 bm
o|;Ɣĺƒĺ
Ő1ő ;=;uu;7$-Š-ঞom
 ;=;uu;7|-Š-vv;|v-u;u;1o]mbv;7=ou-ѴѴ†m†v;7
|-Š Ѵovv;v |o |_; ;Š|;m| |_-| b| bv ruo0-0Ѵ; |_-|
|-Š-0Ѵ; ruoC|‰bѴѴ 0; -ˆ-bѴ-0Ѵ; -]-bmv|‰_b1_ |_;
Ѵovv;v 1-m 0; †ঞѴbv;7ĺ "b]mbC1-m| l-m-];l;m|
f†7];l;m|bvu;t†bu;7|o7;|;ulbm;|_;-lo†m|o=
7;=;uu;7|-Š|_-|1-m0;u;1o]mbv;70-v;7†rom
|_;Ѵbh;Ѵ‹ঞlbm]-m7|_;Ѵ;ˆ;Ѵvo==†|†u;|-Š-0Ѵ;
ruoC|vĺ ou; bm=oul-ঞom u;]-u7bm] 7;=;uu;7 |-Š
-vv;|vbv]bˆ;mbmo|;Ɩ-m7ƑƓĺ
Ő7ő vঞl-ঞomo=;|!;-Ѵbv-0Ѵ;(-Ѵ†;=oumˆ;m|ou‹
Inventory disclosed in Note 10 is stated at the
Ѵo‰;uo=1ov|-m7m;|u;-Ѵbv-0Ѵ;ˆ-Ѵ†;Ő!(őĺ!(
!"ņ"ĺ
bv -vv;vv;7 ‰b|_ u;=;u;m1; |o l-uh;| 1om7bঞomv
-m7 rub1;v ;Šbvঞm] -| |_; u;rouঞm] 7-|; -m7 bm
|_;Ѵb]_|o=u;1;m|l-uh;||u-mv-1ঞomvĺ
Ƒĺƒ "†ll-u‹o="b]mbC1-m|11o†mঞm]oѴb1b;v
ƑĺƒĺƐ †vbm;vvol0bm-ঞomv-m7oo7‰bѴѴ
 †vbm;vv 1ol0bm-ঞomv -u; -11o†m|;7 =ou †vbm]
|_;-1t†bvbঞoml;|_o7ĺ$_;1ov|o=-m-1t†bvbঞom
bvl;-v†u;7-v|_;-]]u;]-|;o=|_;1omvb7;u-ঞom
|u-mv=;uu;7ķl;-v†u;7-|-1t†bvbঞom7-|;=-buˆ-Ѵ†;
-m7 |_; -lo†m| o= -m‹ momŊ1om|uoѴѴbm] bm|;u;v|
bm |_; -1t†bu;;ĺ
ou ;-1_ 0†vbm;vv 1ol0bm-ঞomķ
ou |_; r†urov; o= blr-bul;m| |;vঞm]ķ ]oo7‰bѴѴ
|_; uo†r ;Ѵ;1|v ‰_;|_;u b| l;-v†u;v |_; momŊ
1om|uoѴѴbm] bm|;u;v| bm |_; -1t†bu;; ;b|_;u -|
=-bu ˆ-Ѵ†; ou -| |_; ruorouঞom-|; v_-u; o= |_;
-1t†bu;;Ľv b7;mঞC-0Ѵ; m;| -vv;|vĺ 1t†bvbঞom
1ov|v bm1†uu;7 -u; ;Šr;mv;7 -m7 bm1Ѵ†7;7 bm
-7lbmbv|u-ঞˆ;;Šr;mv;vĺ
When the Group acquires a business, it assesses
|_; Cm-m1b-Ѵ -vv;|v -m7 Ѵb-0bѴbঞ;v -vv†l;7 =ou
71
-rruorub-|; 1Ѵ-vvbC1-ঞom -m7 7;vb]m-ঞom bm
-11ou7-m1;‰b|_|_;1om|u-1|†-Ѵ|;ulvķ;1omolb1
1bu1†lv|-m1;v-m7r;uঞm;m|1om7bঞomv-v-||_;
-1t†bvbঞom 7-|;ĺ$_bv bm1Ѵ†7;v |_; v;r-u-ঞom o=
;l0;77;7 7;ubˆ-ঞˆ;v bm _ov| 1om|u-1|v 0‹ |_;
-1t†bu;;ĺ
 =|_;0†vbm;vv1ol0bm-ঞombv-1_b;ˆ;7bmv|-];vķ
|_; -1t†bvbঞom 7-|; =-bu ˆ-Ѵ†; o= |_; -1t†bu;uĽv
previously held equity interest in the acquiree is
u;l;-v†u;7 |o =-bu ˆ-Ѵ†; -| |_; -1t†bvbঞom 7-|;
|_uo†]_ruoC|ouѴovvĺ
 m‹ 1omঞm];m| 1omvb7;u-ঞom |o 0; |u-mv=;uu;7
0‹|_;-1t†bu;u‰bѴѴ0;u;1o]mbv;7-|=-buˆ-Ѵ†;-|
|_;-1t†bvbঞom7-|;ĺ"†0v;t†;m|1_-m];vbm|_;
=-buˆ-Ѵ†;o=|_;1omঞm];m|1omvb7;u-ঞom‰_b1_bv
7;;l;7|o0;-m-vv;|ouѴb-0bѴb|‹‰bѴѴ0;u;1o]mbv;7
bm-11ou7-m1;‰b|_"ƒƖ;b|_;ubmruoC|ouѴovv
ou -v - 1_-m]; |o o|_;u 1olru;_;mvbˆ; bm1ol;ĺ
= |_; 1omঞm];m| 1omvb7;u-ঞom bv 1Ѵ-vvbC;7 -v
;t†b|‹ķ b| ‰bѴѴ mo| 0; u;l;-v†u;7ĺ "†0v;t†;m|
v;‚Ѵ;l;m| bv -11o†m|;7 =ou ‰b|_bm ;t†b|‹ĺ m
bmv|-m1;v ‰_;u; |_; 1omঞm];m| 1omvb7;u-ঞom
7o;v mo| =-ѴѴ ‰b|_bm |_; v1or; o= " ƒƖķ b| bv
l;-v†u;7 bm -11ou7-m1; ‰b|_ |_; -rruorub-|;
"
 oo7‰bѴѴ bv bmbঞ-ѴѴ‹ l;-v†u;7 -| 1ov|ķ 0;bm] |_;
;Š1;vv o= |_; -]]u;]-|; o= |_; 1omvb7;u-ঞom
|u-mv=;uu;7-m7|_;-lo†m|u;1o]mbv;7=oumomŊ
1om|uoѴѴbm] bm|;u;v| oˆ;u |_; m;| b7;mঞC-0Ѵ;
-vv;|v -1t†bu;7 -m7 Ѵb-0bѴbঞ;v -vv†l;7ĺ = |_bv
1omvb7;u-ঞom bv Ѵo‰;u |_-m |_; =-bu ˆ-Ѵ†; o=
the net assets of the subsidiary acquired, the
7b@;u;m1;bvu;1o]mbv;7bmruoC|ouѴovvĺ
 [;u bmbঞ-Ѵ u;1o]mbঞomķ ]oo7‰bѴѴ bv l;-v†u;7 -|
1ov| Ѵ;vv -m‹ -11†l†Ѵ-|;7 blr-bul;m| Ѵovv;vĺ
-1t†bu;7 bm - 0†vbm;vv 1ol0bm-ঞom bvķ =uol
|_; -1t†bvbঞom 7-|;ķ -ѴѴo1-|;7 |o ;-1_ o= |_;
uo†rĽv 1-v_Ŋ];m;u-ঞm] †mb|v |_-| -u; ;Šr;1|;7
|o 0;m;C| =uol |_; 1ol0bm-ঞomķ buu;vr;1ঞˆ; o=
‰_;|_;uo|_;u-vv;|vouѴb-0bѴbঞ;vo=|_;-1t†bu;;
-u;-vvb]m;7|o|_ov;†mb|vĺ
 )_;u;]oo7‰bѴѴ=oulvr-u|o=-1-v_Ŋ];m;u-ঞm]
†mb| -m7 r-u| o= |_; or;u-ঞom ‰b|_bm |_-| †mb|
72 INSPIRING
GENERATIONS
Notes to the Financial Statements
Year ended 31 December 2015
bv 7bvrov;7 o=ķ |_; ]oo7‰bѴѴ -vvo1b-|;7 ‰b|_ |_;
or;u-ঞom7bvrov;7o=bvbm1Ѵ†7;7bm|_;1-uu‹bm]
-lo†m| o= |_; or;u-ঞom ‰_;m 7;|;ulbmbm] |_;
]-bmouѴovvom7bvrov-Ѵo=|_;or;u-ঞomĺoo7‰bѴѴ
disposed of in this circumstance is measured based
om|_;u;Ѵ-ঞˆ;ˆ-Ѵ†;vo=|_;or;u-ঞom7bvrov;7
o= -m7 |_; rouঞom o= |_; 1-v_Ŋ];m;u-ঞm] †mb|
u;|-bm;7ĺ
ƑĺƒĺƑ
ou;b]m†uu;m1‹$u-mvѴ-ঞom
The Financial Statements are presented in Sri
-mh-m !†r;;vķ ‰_b1_ bv |_; uo†rĽv =†m1ঞom-Ѵ
-m7ru;v;m|-ঞom1†uu;m1‹ĺ$u-mv-1ঞomvbm=ou;b]m
1†uu;m1b;v-u;bmbঞ-ѴѴ‹u;1ou7;7-||_;=†m1ঞom-Ѵ
1†uu;m1‹u-|;u†Ѵbm]-||_;7-|;o=|_;|u-mv-1ঞomĺ
om;|-u‹ -vv;|v -m7 Ѵb-0bѴbঞ;v 7;molbm-|;7
bm =ou;b]m 1†uu;m1b;v -u; u;|u-mvѴ-|;7 -| |_;
=†m1ঞom-Ѵ1†uu;m1‹u-|;o=;Š1_-m];u†Ѵbm]-||_;
u;rouঞm]7-|;ĺѴѴ7b@;u;m1;v-u;|-h;m|oruoC|
ou Ѵovvĺ omŊlom;|-u‹ b|;lv |_-| -u; l;-v†u;7
bm |;ulv o= _bv|oub1-Ѵ 1ov| bm - =ou;b]m 1†uu;m1‹
-u;|u-mvѴ-|;7†vbm]|_;;Š1_-m];u-|;v-v-||_;
7-|;v o= |_; bmbঞ-Ѵ |u-mv-1ঞomvĺ  ѴѴ ;Š1_-m];
ˆ-ub-m1;v-u;1_-u];7|o|_;m1ol;"|-|;l;m|ĺ
Ƒĺƒĺƒ $-Š-ঞom
 †uu;m|$-Š;v
Companies in the Group have entered into
-]u;;l;m|v‰b|_ |_; o-u7 o= mˆ;v|l;m| o= "ub
-mh-Őőķ-vvr;1bC;70;Ѵo‰ĺ"†1_-]u;;l;m|v
vr;1b=‹ |_-| |_; v;1ঞomv o= |_; mѴ-m7 !;ˆ;m†;
1| u;Ѵ-ঞm] |o |_; blrovbঞomķ r-‹l;m| -m7
u;1oˆ;u‹ o= bm1ol; |-Š v_o†Ѵ7 mo| -rrѴ‹ |o |_;
u;vr;1ঞˆ;1olr-mb;vķ-v;ŠrѴ-bm;70;Ѵo‰=ou|_;
vr;1bC;70†vbm;vv;vĺ
 ˆ;uv;-v!;-Ѵ|‹Ő;‹Ѵomő
 †uv†-m| |o |_; -]u;;l;m| 0;|‰;;m |_;
olr-m‹ -m7 |_; o-u7 o= mˆ;v|l;m| o= "ub
-mh-ķ |_; olr-m‹ bv ;mঞ|Ѵ;7 |o - C[;;m‹;-u
ľ|-Š ;Š;lrঞom r;ubo7Ŀ om b|v -11o†mঞm] ruoC|v
-m7 bm1ol;ķ 1oll;m1bm] =uol |_; Cuv| ‹;-u
o= l-hbm] ruoC|ĺ $_; olr-m‹ ;m|;u;7 bm|o -
v†rrѴ;l;m|-u‹ -]u;;l;m| ‰b|_ |_; o-u7 o=
mˆ;v|l;m|o="ub-mh-omƐƑ†]†v|ƑƏƏƔ‰b|_
u;]-u7|o|_;-0oˆ;ĺ
 $_;ƐƔ‹;-u|-Š;Š;lrঞomr;ubo71oll;m1;7bm
ƑƏƏƔ-m7‰bѴѴ;m7bmƑƏƑƏ‰_;u;0†bvm;vvbm1ol;
bv;Š;lr|;7-m7o|_;ubm1ol;bv|-Š-0Ѵ;-|moul-Ѵ
u-|;ĺ$_;u;-[;uolr-m‹‰bѴѴ0;|-Š;7-|Ƒѷom
|†umoˆ;u=ou-mo|_;uƐƔ‹;-uv†mঞѴƑƏƒƔĺ
 bu;h--rb|-Ѵ-m7Őubˆ-|;őblb|;7
 †uv†-m| |o |_; -]u;;l;m| ‰b|_ |_; o-u7 o=
mˆ;v|l;m| o= "ub -mh- Őő 7-|;7 ƑѶ|_ rubѴ
ƑƏƏƔķ bu;h- -rb|-Ѵ -m7 Őubˆ-|;ő blb|;7
bv ;Š;lr|;7 =uol bm1ol; |-Š =ou - r;ubo7 o= Ѷ
‹;-uvĺ "†1_ ;Š;lrঞom r;ubo7 bv u;1hom;7 =uol
|_; ‹;-u bm ‰_b1_ |_; olr-m‹ 1oll;m1;v |o
l-h; ruoC| ou -m‹ ‹;-u o= -vv;vvl;m| mo| Ѵ-|;u
than 2 years from the date of commencement of
1oll;u1b-Ѵ or;u-ঞomvķ ‰_b1_;ˆ;u bv ;-uѴb;uķ -v
l-‹0;vr;1bC;7bm-1;uঞC1-|;0‹ĺ
 $_;Ѷ‹;-u|-Š;Š;lrঞomr;ubo71oll;m1;7bm
ƑƏƏѵ-m7;m7;7bm|_;Ѵ-v|Cm-m1b-Ѵ‹;-u‰_;u;
0†bvm;vvbm1ol;‰-v;Š;lr|;7-m7o|_;ubm1ol;
‰-v|-Š-0Ѵ;-|moul-Ѵu-|;ĺ
 bu;h-ol;vŐubˆ-|;őblb|;7
 †uv†-m| |o |_; -]u;;l;m| ‰b|_ o-u7 o=
mˆ;v|l;m| o= "ub -mh- Őő 7-|;7 Ƒѵ|_
†]†v| ƑƏƏƔķ bu;h- ol;v Őubˆ-|;ő blb|;7
bv;Š;lr|;7=uolm1ol;$-Š=ou-r;ubo7o=ƐƑ
‹;-uvĺ "†1_ ;Š;lrঞom r;ubo7 bv u;1hom;7 =uol
|_; ‹;-u bm ‰_b1_ |_; olr-m‹ 1oll;m1;v |o
l-h;ruoC|vou-m‹‹;-uo=-vv;vvl;m|mo|Ѵ-|;u
than 2 years from the date of commencement of
1oll;u1b-Ѵ or;u-ঞomvķ ‰_b1_;ˆ;u bv ;-uѴb;uķ -v
l-‹0;vr;1bC;7bm-1;uঞC1-|;0‹ĺ
 $_;ƐƑ‹;-u|-Š;Š;lrঞomr;ubo71oll;m1;7bm
ƑƏƏƕ-m7‰bѴѴ;m7omƑƏƐƖĺm1ol;=uolvo†u1;v
=-ѴѴbm] o†|vb7;v |_;  -rruoˆ;7 0†vbm;vvķ bv
Ѵb-0Ѵ; |o bm1ol; |-Š -| ƑѶѷĺ olr-mb;v bm |_;
]uo†r o|_;u |_-m vr;1bC;7 -0oˆ; -u; -Ѵvo Ѵb-0Ѵ;
=oubm1ol;|-Š-|ƑѶѷĺ
 ;=;uu;7$-Š-ঞom
 ;=;uu;7bm1ol;|-Šbvruoˆb7;7ķ†vbm]|_;Ѵb-0bѴb|‹
l;|_o7ķom|;lrou-u‹7b@;u;m1;v-||_;u;rouঞm]
7-|;0;|‰;;m|_;|-Š0-v;vo=-vv;|v-m7Ѵb-0bѴbঞ;v

OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015
-m7|_;bu1-uu‹bm]-lo†m|v=ouCm-m1b-Ѵu;rouঞm]
r†urov;vĺ
 ;=;uu;7bm1ol;|-ŠѴb-0bѴbঞ;v-u;u;1o]mbv;7=ou
-ѴѴ |-Š-0Ѵ; |;lrou-u‹ 7b@;u;m1;v ;Š1;r| ‰_;u;
|_; 7;=;uu;7 bm1ol; |-Š Ѵb-0bѴb|‹ -ubv;v =uol
|_; bmbঞ-Ѵ u;1o]mbঞom o= -m -vv;| ou Ѵb-0bѴb|‹ bm -
|u-mv-1ঞom |_-| bv mo| - 0†vbm;vv 1ol0bm-ঞom
-m7ķ-||_;ঞl;o=|_;|u-mv-1ঞomķ-@;1|vm;b|_;u
|_;-11o†mঞm]ruoC|mou|-Š-0Ѵ;ruoC|ouѴovvĺ
 ;=;uu;7bm1ol;|-Š-vv;|v-u;u;1o]mbv;7=ou-ѴѴ
7;7†1ঞ0Ѵ; |;lrou-u‹ 7b@;u;m1;vķ 1-uu‹Ŋ=ou‰-u7
o=†m†v;7|-Š-vv;|v-m7†m†v;7|-ŠѴovv;vķ|o|_;
;Š|;m||_-|b|bvruo0-0Ѵ;|_-||-Š-0Ѵ;ruoC|‰bѴѴ0;
-ˆ-bѴ-0Ѵ;-]-bmv|‰_b1_|_;7;7†1ঞ0Ѵ;|;lrou-u‹
7b@;u;m1;vķ -m7 |_; 1-uu‹Ŋ=ou‰-u7 o= †m†v;7
|-Š-vv;|v-m7†m†v;7|-ŠѴovv;v1-m0;†ঞѴbv;7
;Š1;r| ‰_;u; |_; 7;=;uu;7 bm1ol; |-Š -vv;|
u;Ѵ-ঞm] |o |_; 7;7†1ঞ0Ѵ; |;lrou-u‹ 7b@;u;m1;
-ubv;v =uol |_; bmbঞ-Ѵ u;1o]mbঞom o= -m -vv;| ou
Ѵb-0bѴb|‹ bm - |u-mv-1ঞom |_-| bv mo| - 0†vbm;vv
1ol0bm-ঞom-m7ķ-||_;ঞl;o=|_;|u-mv-1ঞomķ
-@;1|v m;b|_;u |_; -11o†mঞm] ruoC| mou |-Š-0Ѵ;
ruoC|ouѴovvĸ-m7
 $_; 1-uu‹bm] -lo†m| o= 7;=;uu;7 bm1ol; |-Š
-vv;|vbvu;ˆb;‰;7-|;-1_0-Ѵ-m1;v_;;|7-|;-m7
u;7†1;7|o|_;;Š|;m||_-|b|bvmoѴom];uruo0-0Ѵ;
|_-| v†L1b;m| |-Š-0Ѵ; ruoC| ‰bѴѴ 0; -ˆ-bѴ-0Ѵ; |o
-ѴѴo‰-ѴѴour-u|o=|_;7;=;uu;7bm1ol;|-Š-vv;|
|o0;†ঞѴbv;7ĺ
 ;=;uu;7 bm1ol; |-Š -vv;|v -m7 Ѵb-0bѴbঞ;v -u;
l;-v†u;7 -| |_; |-Š u-|;v |_-| -u; ;Šr;1|;7 |o
-rrѴ‹|o|_;‹;-u‰_;m|_;-vv;|bvu;-Ѵbv;7ou|_;
Ѵb-0bѴb|‹bvv;‚Ѵ;7ķ0-v;7om|-Šu-|;vŐ-m7|-ŠѴ-‰vő
|_-|_-ˆ;0;;m;m-1|;7ouv†0v|-mঞˆ;Ѵ‹;m-1|;7
-||_;u;rouঞm]7-|;ĺ
 "-Ѵ;v$-Š
 !;ˆ;m†;vķ;Šr;mv;v-m7-vv;|v-u;u;1o]mbŒ;7m;|
o=|_;-lo†m|o=v-Ѵ;v|-Š;Š1;r|‰_;u;|_;v-Ѵ;v
|-Šbm1†uu;7om-r†u1_-v;o=-vv;|vouv;uˆb1;bv
mo| u;1oˆ;u-0Ѵ; =uol |_; |-Š-ঞom -†|_oubঞ;v bm
‰_b1_1-v;|_;v-Ѵ;v|-Šbvu;1o]mbŒ;7-v-r-u|o=
|_;1ov|o=|_;-vv;|our-u|o=|_;;Šr;mv;b|;lv
as applicable and receivable and payable that are
v|-|;7‰b|_|_;-lo†m|o=v-Ѵ;v|-Šbm1Ѵ†7;7ĺ$_;
73
-lo†m| o= v-Ѵ;v |-Š u;1oˆ;u-0Ѵ; -m7 r-‹-0Ѵ; bm
u;vr;1| o= |-Š-ঞom -†|_oubঞ;v bv bm1Ѵ†7;7 -v -
r-u|o=u;1;bˆ-0Ѵ;v-m7r-‹-0Ѵ;vbm|_;u;rouঞm]
7-|;ĺ
ƑĺƒĺƓ ouuo‰bm]ov|v
 ouuo‰bm] 1ov|v 7bu;1|Ѵ‹ -‚ub0†|-0Ѵ; |o |_;
-1t†bvbঞom ou 1omv|u†1ঞom o= -m -vv;| |_-|
m;1;vv-ubѴ‹ |-h;v - v†0v|-mঞ-Ѵ r;ubo7 o= ঞl; |o
];|u;-7‹=oub|vbm|;m7;7†v;ouv-Ѵ;-u;1-rb|-ѴbŒ;7
-v r-u| o= |_; 1ov| o= |_; u;vr;1ঞˆ; -vv;|vĺ ѴѴ
o|_;u 0ouuo‰bm] 1ov|v -m7 0ouuo‰bm] 1ov|v
bm1†uu;7 -[;u |_; 1olrѴ;ঞom o= |_; †m7;uѴ‹bm]
1omv|u†1ঞom-u;;Šr;mv;7bm|_;r;ubo7bm‰_b1_
|_;‹ o11†uĺ ouuo‰bm] 1ov|v 1omvbv| o= bm|;u;v|
-m7o|_;u1ov|v|_-|-m;mঞ|‹bm1†uvbm1omm;1ঞom
‰b|_|_;0ouuo‰bm]o==†m7vĺ
 $_; bm|;u;v| 1-rb|-ѴbŒ;7 bv 1-Ѵ1†Ѵ-|;7 †vbm]
uo†rĽv ‰;b]_|;7 -ˆ;u-]; 1ov| o= 0ouuo‰bm]
-[;u -7f†vঞm] =ou 0ouuo‰bm]v -vvo1b-|;7 ‰b|_
vr;1bC1 7;ˆ;Ѵorl;m|v ‰_;u;ķ 0ouuo‰bm]v -u;
-vvo1b-|;7 ‰b|_ vr;1bC1 7;ˆ;Ѵorl;m|vĺ )_;u;
0ouuo‰bm]v -u; -vvo1b-|;7 ‰b|_ 7;ˆ;Ѵorl;m|vķ
|_; -lo†m|v 1-rb|-ѴbŒ;7 bv |_; ]uovv bm|;u;v|
bm1†uu;7om|_ov;0ouuo‰bm]vѴ;vv-m‹bmˆ;v|l;m|
bm1ol; -ubvbm] om |_;bu |;lrou-u‹ bmˆ;v|l;m|vĺ
m|;u;v|bv1-rb|-ѴbŒ;7-v=uol|_;1oll;m1;l;m|
o= |_; 7;ˆ;Ѵorl;m| ‰ouh †mঞѴ 7-|; o= ru-1ঞ1-Ѵ
1olrѴ;ঞomĺ$_;1-rb|-ѴbŒ-ঞomo=Cm-m1;1ov|vbv
v†vr;m7;7 b= |_;u; -u; ruoѴom];7 r;ubo7v ‰_;m
7;ˆ;Ѵorl;m| -1ঞˆb|‹ bv bm|;uu†r|;7ĺ m|;u;v| bv
-Ѵvo1-rb|-ѴbŒ;7om|_;r†u1_-v;1ov|o=-vb|;o=
ruor;u|‹ -1t†bu;7 vr;1bC1-ѴѴ‹ =ou 7;ˆ;Ѵorl;m|ķ
0†|omѴ‹‰_;u;-1ঞˆbঞ;vm;1;vv-u‹|oru;r-u;|_;
-vv;|=ouu;7;ˆ;Ѵorl;m|v-u;bmruo]u;vvĺ
ƑĺƒĺƔ !;ˆ;m†;!;1o]mbঞom
 !;ˆ;m†; bv u;1o]mbŒ;7 |o |_; ;Š|;m| |_-| b| bv
ruo0-0Ѵ; |_-| |_; ;1omolb1 0;m;C|v ‰bѴѴ Yo‰
to the Group and the revenue can be reliably
l;-v†u;7ĺ!;ˆ;m†;bvl;-v†u;7-||_;=-buˆ-Ѵ†;
o=|_;1omvb7;u-ঞomu;1;bˆ;7ouu;1;bˆ-0Ѵ;m;|o=
|u-7;7bv1o†m|v-m7v-Ѵ;v|-Š;v-m7ˆ-Ѵ†;-77;7
|-Šĺ
74 INSPIRING
GENERATIONS

Notes to the Financial Statements

Year ended 31 December 2015

-ő "-Ѵ;o=r-u|l;m|v |;m-m| _-v |_; orঞom |o 1omঞm†; |_; Ѵ;-v;ķ
‰_;u;ķ-||_;bm1;rঞomo=|_;Ѵ;-v;ķ|_; bu;1|ouv
 m|_;1-v;o=v-Ѵ;o=-r-u|l;m|vķ|_;]uo†r_-v -u;u;-vom-0Ѵ‹1;u|-bm|_-||_;|;m-m|‰bѴѴ;Š;u1bv;
determined that equitable interest in the property |_-|orঞomĺ
_-vˆ;v|;7bm|_;0†‹;u0;=ou;Ѵ;]-Ѵঞ|Ѵ;r-vv;vķ
-m7 |_; ubvhv -m7 u;‰-u7v o= o‰m;uv_br o= v†1_ Premiums received to terminate leases are
_-ˆ; 0;;m |u-mv=;uu;7 -| |_; ঞl; o= ;m|;ubm] u;1o]mbv;7 bm |_; m1ol; "|-|;l;m| ‰_;m |_;‹
bm|o "-Ѵ; -m7 †u1_-v; -]u;;l;m|ĺ $_;u;=ou;ķ -ubv;ĺ
u;ˆ;m†; u;1o]mbঞom =uol v-Ѵ; o= -r-u|l;m|v
bv 0;]†m =uol |_; robm| o= ;m|;ubm] bm |o "-Ѵ; 1ő !;m7;ubm]o=";uˆb1;v
-m7 †u1_-v; ]u;;l;m|ĺ )_;u; |_; ruor;u|‹
 !;ˆ;m†;=uolu;m7;ubm]o=v;uˆb1;vbvu;1o]mbŒ;7
bv †m7;u 7;ˆ;Ѵorl;m| =ou - 1omvb7;u-0Ѵ; ঞl;
bm|_;-11o†mঞm]r;ubo7bm‰_b1_|_;v;uˆb1;v-u;
=u-l; -m7 -]u;;l;m| _-v 0;;m u;-1_;7 |o v;ѴѴ
u;m7;u;7our;u=oul;7ĺ
v†1_-m-r-u|l;m|‰_;m1omv|u†1ঞom‰ouhv-u;
1olrѴ;|;7ķ |_; 7bu;1|ouv 1omvb7;u ‰_;|_;u |_;
d) Finance Income
contract comprises;

bm-m1; bm1ol; bv u;1o]mbŒ;7 -v |_; bm|;u;v|
 Ŏ 1om|u-1||o1omv|u†1|-ruor;u|‹ou
-11u†;v†mѴ;vv1oѴѴ;1|-0bѴb|‹bvbm7o†0|ĺ
 Ŏ 1om|u-1|=ou|_;v-Ѵ;o=-1olrѴ;|;7
e) Others
property
|_;ubm1ol;bvu;1o]mbŒ;7om-m-11u†-Ѵ0-vbvĺ
 )_;u; - 1om|u-1| bv f†7];7 |o 0; =ou |_;
1omv|u†1ঞomo=-ruor;u|‹ķu;ˆ;m†;bvu;1o]mbŒ;7 Ƒĺƒĺѵ m|-m]b0Ѵ;vv;|v
†vbm] |_; r;u1;m|-]; o= 1olrѴ;ঞom l;|_o7 -v
1omv|u†1ঞomo=-r-u|l;m|vruo]u;vv;vĺ$_bvbvbm (a) WTC Membership
Ѵbm;‰b|_|_;7bu;1ঞˆ;o=|_;mvঞ|†|;o=_-u|;u;7
11o†m|-m|vo="ub-mh-=ou;mঞঞ;v;m]-];7bm  ;l0;uv_br r-b7 |o )ouѴ7 $u-7; ;m|;uvĽ
|_;bm7†v|u‹o=1omv|u†1ঞomo=u;-Ѵ;v|-|;ķ‰_b1_ vvo1b-ঞom Ő)$ ;l0;uv_brő bv v_o‰m -|
]bˆ;v|_;orঞom|o7;=;u|_;-rrѴb1-ঞomo=
! _bv|oub1-Ѵ 1ov|ĺ | bv 1omvb7;u;7 |o _-ˆ; - Cmb|;
ƐƔķ †mঞѴ m;‰ !;ˆ;m†; "|-m7-u7 Őbĺ; 
!" ƐƔő useful life and carried at cost less accumulated
1olbm]|o;@;1|ĺ -louঞŒ-ঞomĺlouঞŒ-ঞombv1-Ѵ1†Ѵ-|;7†vbm]|_;
v|u-b]_|ŊѴbm;l;|_o7|o-ѴѴo1-|;|_;1ov|oˆ;ub|v
Where the contract is for the sale of a completed ;vঞl-|;7†v;=†ѴѴb=;o=ƑƏ‹;-uvĺ
ruor;u|‹ķu;ˆ;m†;bvu;1o]mbv;7ķ‰_;mvb]mbC1-m|
risk and returns have been transferred to the Ő0ő olr†|;u"o[‰-u;
0†‹;uķ ‰_b1_ bv moul-ѴѴ‹ om †m1om7bঞom-Ѵ
;Š1_-m];1om|u-1|vĺ  1t†bu;7 1olr†|;u vo[‰-u; Ѵb1;mv;v -u;
1-rb|-ѴbŒ;7 om |_; 0-vbv o= |_; 1ov|v bm1†uu;7 |o
b) Rental Income -1t†bu; -m7 0ubm] |o †v; |_; vr;1bC1 vo[‰-u;ĺ
$_;v; 1ov|v -u; -louঞŒ;7 oˆ;u |_;bu ;vঞl-|;7
 !;m|-Ѵbm1ol;u;1;bˆ-0Ѵ;†m7;uor;u-ঞm]Ѵ;-v;v †v;=†Ѵ Ѵb=; o= Ɣ ‹;-uvĺ ov|v -vvo1b-|;7 ‰b|_
bvu;1o]mbv;7om-v|u-b]_|ŊѴbm;0-vbvoˆ;u|_;|;ul l-bm|-bmbm] 1olr†|;u vo[‰-u; ruo]u-lv -u;
o=|_;Ѵ;-v;ķ;Š1;r|=ou1omঞm];m|u;m|-Ѵbm1ol; u;1o]mbŒ;7-v-m;Šr;mv;-vbm1†uu;7ĺ
‰_b1_bvu;1o]mbv;7‰_;mb|-ubv;vĺ
(c) Goodwill
 $_; Ѵ;-v; |;ul bv |_; CŠ;7 r;ubo7 o= |_; Ѵ;-v;
|o];|_;u ‰b|_ -m‹ =†u|_;u |;ul =ou ‰_b1_ |_;  oo7‰bѴѴ bv bmbঞ-ѴѴ‹ l;-v†u;7 -| 1ov|ĺ
oѴѴo‰bm]
bmbঞ-Ѵ u;1o]mbঞomķ ]oo7‰bѴѴ 1-uub;7 -| 1ov| Ѵ;vv
-m‹-11†l†Ѵ-|;7blr-bul;m|Ѵovv;vĺ

OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015
 -bmvouѴovv;v-ubvbm]=uol7;Ŋu;1o]mbঞomo=-m
bm|-m]b0Ѵ; -vv;| -u; l;-v†u;7 -v |_; 7b@;u;m1;
0;|‰;;m |_; m;| 7bvrov-Ѵ ruo1;;7v -m7 |_;
1-uu‹bm]-lo†m|o=|_;-vv;|-m7-u;u;1o]mbŒ;7
bm |_; m1ol; "|-|;l;m| ‰_;m |_; -vv;| bv 7;Ŋ
u;1o]mbŒ;7ĺ
Ƒĺƒĺƕ mˆ;m|ou‹
 )ouhŊbmŊuo]u;vv-m7olrѴ;|;7r-u|l;m|v
 uor;u|‹ -1t†bu;7 ou 0;bm] 1omv|u†1|;7 =ou v-Ѵ;
in the ordinary course of business, rather than
|o0;_;Ѵ7=ouu;m|-Ѵou1-rb|-Ѵ-rru;1b-ঞomķ-m7
1olrѴ;|;7 -r-u|l;m|v -u; v_o‰m -v bmˆ;m|oub;v
ou |_; r†urov; o= 1-v_ Yo‰ v|-|;l;m|ķ 1-v_
-m7 l;-v†u;7 -| |_; Ѵo‰;u o= 1ov| -m7 m;|
u;-ѴbŒ-0Ѵ;ˆ-Ѵ†;ĺ
 ov|bm1Ѵ†7;vĹ
Ŋ
u;;_oѴ7ub]_|v=ouѴ-m7
Ŋ lo†m|vr-b7|o1om|u-1|ouv=ou1omv|u†1ঞom
Ŋ ouuo‰bm] 1ov|vķ rѴ-mmbm] -m7 7;vb]m 1ov|vķ
1ov|vo=vb|;ru;r-u-ঞomķruor;u|‹|u-mv=;u|-Š;vķ
1omv|u†1ঞomoˆ;u_;-7v-m7o|_;uu;Ѵ-|;71ov|vĺ
Non refundable commissions paid to sales or
l-uh;ঞm]-];m|vom|_;v-Ѵ;o=u;-Ѵ;v|-|;†mb|v
-u;;Šr;mv;7‰_;mr-b7ĺ
 ;|u;-ѴbŒ-0Ѵ;ˆ-Ѵ†;bv|_;;vঞl-|;7v;ѴѴbm]rub1;
in the ordinary course of the business, based on
l-uh;|rub1;v-||_;u;rouঞm]7-|;-m77bv1o†m|;7
=ou|_;ঞl;ˆ-Ѵ†;o=lom;‹b=l-|;ub-ѴķѴ;vv1ov|v
|o 1olrѴ;ঞom -m7 |_; ;vঞl-|;7 1ov|v o= v-Ѵ;ĺ
$_; 1ov| o= bmˆ;m|ou‹ u;1o]mbŒ;7 bm ruoC| ou
Ѵovvom7bvrov-Ѵbv7;|;ulbm;7‰b|_u;=;u;m1;|o
the costs incurred on the property sold and an
-ѴѴo1-ঞomo=1ov|v0-v;7om|_;]uovvYoou-u;-
o=|_;ruor;u|‹7;ˆ;Ѵor;7ĺ
 )ouhŊbmŊruo]u;vv|_-|bvbm|;m7;7|o0;1olrѴ;|;7
‰b|_bmom;‹;-ubv1Ѵ-vvbC;7-v†uu;m|mˆ;m|oub;v
and those that take more than a year to complete
-u;1Ѵ-vvbC;7-vomŊ†uu;m|mˆ;m|oub;vĺ
75
Consumables and Spares
Consumable and spares are stated at cost,
-11o†m|;7 †vbm] -| -1|†-Ѵ 1ov| om ‰;b]_|;7
-ˆ;u-];0-vbvĺ
ƑĺƒĺѶ -v_-m7"_ou|Ŋ$;ul ;rovb|v
 -v_ -m7 1-v_ ;t†bˆ-Ѵ;m|v -u; 7;Cm;7 -v 1-v_
bm_-m7ķ7;l-m77;rovb|v-m7v_ou||;ul_b]_Ѵ‹
Ѵbt†b7 bmˆ;v|l;m|vķ u;-7bѴ‹ 1omˆ;uঞ0Ѵ; |o hmo‰m
-lo†m|vo=1-v_-m7v†0f;1||obmvb]mbC1-m|ubvh
o=1_-m];vbmˆ-Ѵ†;ĺ

and cash equivalents consist of cash in hand
-m7 7;rovb|v bm 0-mhv m;| o= o†|v|-m7bm] 0-mh
oˆ;u7u-[vĺ mˆ;v|l;m|v ‰b|_ oub]bm-Ѵ l-|†ubঞ;v
of three months or less are also treated as cash
;t†bˆ-Ѵ;m|vĺ
ƑĺƒĺƖ uor;u|‹ķѴ-m|-m7t†brl;m|
 uor;u|‹ķrѴ-m|-m7;t†brl;m|;Š1;r|=ou0†bѴ7bm]v
-u; v|-|;7 -| 1ov|ķ ;Š1Ѵ†7bm] |_; 1ov|v o= 7-‹ |o
7-‹ v;uˆb1bm]ķ Ѵ;vv -11†l†Ѵ-|;7 7;ru;1b-ঞom
-m7-11†l†Ѵ-|;7blr-bul;m|bmˆ-Ѵ†;ĺ"†1_1ov|
bm1Ѵ†7;v|_;1ov|o=u;rѴ-1bm]r-u|o=|_;ruor;u|‹ķ
rѴ-m|-m7;t†brl;m|‰_;m|_-|1ov|bvbm1†uu;7ķb=
|_;u;1o]mbঞom1ub|;ub--u;l;|ĺ
 †bѴ7bm]v -u; l;-v†u;7 -| =-bu ˆ-Ѵ†; Ѵ;vv
7;ru;1b-ঞom-m7blr-bul;m|1_-u];7v†0v;t†;m|
|o|_;7-|;o=|_;u;ˆ-Ѵ†-ঞomĺ
The assets’ residual values, useful lives and
l;|_o7 o= 7;ru;1b-ঞom -u; u;ˆb;‰;7ķ -m7
-7f†v|;7b=-rruorub-|;ķ-|Ѵ;-v|-|;-1_Cm-m1b-Ѵ
‹;-u ;m7ĺ m -vv;|Ľv 1-uu‹bm] -lo†m| bv ‰ub‚;m
7o‰m bll;7b-|;Ѵ‹ |o b|v u;1oˆ;u-0Ѵ; -lo†m| b=
b|v1-uu‹bm]-lo†m|bv]u;-|;u|_-mb|v;vঞl-|;7
u;1oˆ;u-0Ѵ;-lo†m|ĺ
 (-Ѵ†-ঞomv-u;r;u=oul;7‰b|_v†L1b;m|u;]†Ѵ-ub|‹ķ
to ensure that the fair value of a revalued asset
7o;vmo|7b@;ul-|;ub-ѴѴ‹=uolb|v1-uu‹bm]-lo†m|ĺ
 )_;m -m b|;l o= ruor;u|‹ķ rѴ-m| ş ;t†brl;m|
bvu;ˆ-Ѵ†;7ķ-m‹-11†l†Ѵ-|;77;ru;1b-ঞom-||_;
7-|; o= |_; ˆ-Ѵ†-ঞom bv ;Ѵblbm-|;7 -]-bmv| |_;
76 INSPIRING
GENERATIONS

Notes to the Financial Statements

Year ended 31 December 2015

]uovv 1-uu‹bm] -lo†m| o= |_; -vv;| -m7 |_; m;| Subsequent Measurement
amount restated to the revalued amount of the
-vv;|ĺ  $_;v†0v;t†;m|l;-v†u;l;m|o=Cm-m1b-Ѵ-vv;|v
7;r;m7vom|_;bu1Ѵ-vvbC1-ঞom-v=oѴѴo‰vĹ
 m‹u;ˆ-Ѵ†-ঞomv†urѴ†vŐu;Ѵ-|;7|oruor;u|‹ķrѴ-m|
ş;t†brl;m|őbv1u;7b|;7|o|_;u;ˆ-Ѵ†-ঞomu;v;uˆ; -ő
bm-m1b-Ѵ vv;|v -|
-bu(-Ѵ†; |_uo†]_ uoC| ou
bm1Ѵ†7;7 bm |_; ;t†b|‹ v;1ঞom o= |_; v|-|;l;m| Loss
o=Cm-m1b-Ѵrovbঞomķ;Š1;r||o|_;;Š|;m||_-|b|

bm-m1b-Ѵ -vv;|v -| =-bu ˆ-Ѵ†; |_uo†]_ ruoC| ou
u;ˆ;uv;v-u;ˆ-Ѵ†-ঞom7;1u;-v;o=|_;v-l;-vv;|
Ѵovv bm1Ѵ†7; Cm-m1b-Ѵ -vv;|v _;Ѵ7 =ou |u-7bm]
ru;ˆbo†vѴ‹ u;1o]mbŒ;7 bm ruoC| ou Ѵovvĺ m ‰_b1_
-m7 Cm-m1b-Ѵ -vv;|v 7;vb]m-|;7 †rom bmbঞ-Ѵ
1-v;ķ|_;bm1u;-v;bvu;1o]mbŒ;7bmruoC|ouѴovvĺ
u;1o]mbঞom -| =-bu ˆ-Ѵ†; |_uo†]_ ruoC| ou Ѵovvĺ
u;ˆ-Ѵ†-ঞom7;C1b|bvu;1o]mbŒ;7bmruoC|ouѴovvķ

bm-m1b-Ѵ-vv;|v-u;1Ѵ-vvbC;7-v_;Ѵ7=ou|u-7bm]
;Š1;r||_-|-7;C1b|7bu;1|Ѵ‹o@v;মm]-ru;ˆbo†v
b= |_;‹ -u; -1t†bu;7 =ou |_; r†urov; o= v;ѴѴbm]
v†urѴ†vom|_;v-l;-vv;|bv7bu;1|Ѵ‹o@v;|-]-bmv|
ou u;r†u1_-vbm] bm |_; m;-u |;ulĺ $_bv 1-|;]ou‹
|_;v†urѴ†vbm|_;u;ˆ-Ѵ†-ঞomu;v;uˆ;ĺ
bm1Ѵ†7;v7;ubˆ-ঞˆ;Cm-m1b-Ѵbmv|u†l;m|v;m|;u;7
Gains and losses on disposals are determined by bm|o 0‹ |_; olr-m‹ |_-| -u; mo| 7;vb]m-|;7
1olr-ubm] ruo1;;7v ‰b|_ 1-uu‹bm] -lo†m| -m7 -v _;7]bm] bmv|u†l;m|v bm _;7]; u;Ѵ-ঞomv_brv
-u;bm1Ѵ†7;7bm|_;m1ol;"|-|;l;m|ĺ -v 7;Cm;7 0‹ " ƒƖĺ ;ubˆ-ঞˆ;vķ bm1Ѵ†7bm]
v;r-u-|;7;l0;77;77;ubˆ-ঞˆ;v-u;-Ѵvo1Ѵ-vvbC;7
ƑĺƒĺƐƏ
bm-m1b-Ѵ mv|u†l;m|vŊmbঞ-Ѵ !;1o]mbঞom -m7 -v_;Ѵ7=ou|u-7bm]†mѴ;vv|_;‹-u;7;vb]m-|;7-v
"†0v;t†;m|;-v†u;l;m| ;@;1ঞˆ;_;7]bm]bmv|u†l;m|vĺ
bm-m1b-Ѵ-vv;|v-|
=-buˆ-Ѵ†;|_uo†]_ruoC|-m7Ѵovv-u;1-uub;7bm|_;
2.3.10.1 Financial Assets v|-|;l;m| o= Cm-m1b-Ѵ rovbঞom -| =-buˆ-Ѵ†;‰b|_
1_-m];vbm=-buˆ-Ѵ†;u;1o]mbv;7bmCm-m1;bm1ol;
 $_; uo†rĽv Cm-m1b-Ѵ -vv;|v bm1Ѵ†7; 1-v_ -m7
ouCm-m1;1ov|vbm|_;bm1ol;v|-|;l;m|ĺ
short-term deposits, trade and other receivables,
short term investments and amount due from  $_;uo†r_-vmo|7;vb]m-|;7-m‹Cm-m1b-Ѵ-vv;|v
u;Ѵ-|;7r-uঞ;vĺ †rom bmbঞ-Ѵ u;1o]mbঞom -v -| =-bu ˆ-Ѵ†; |_uo†]_
ruoC|ouѴovvĺ
 mbঞ-Ѵ!;1o]mbঞom-m7;-v†u;l;m|
 $_; uo†r ;ˆ-Ѵ†-|;v b|v Cm-m1b-Ѵ -vv;|v _;Ѵ7

bm-m1b-Ѵ-vv;|v‰b|_bm|_;v1or;o="ƒƖ-u;
=ou |u-7bm]ķ o|_;u |_-m 7;ubˆ-ঞˆ;vķ |o 7;|;ulbm;
1Ѵ-vvbC;7-vCm-m1b-Ѵ-vv;|v-|=-buˆ-Ѵ†;|_uo†]_
‰_;|_;u |_; bm|;mঞom |o v;ѴѴ |_;l bm |_; m;-u
ruoC| ou Ѵovvķ Ѵo-mv -m7 u;1;bˆ-0Ѵ;vķ _;Ѵ7Ŋ|oŊ
|;ul bv vঞѴѴ -rruorub-|;ĺ )_;m |_; olr-m‹
l-|†ub|‹ bmˆ;v|l;m|vķ -ˆ-bѴ-0Ѵ;Ŋ=ouŊv-Ѵ; Cm-m1b-Ѵ
bv †m-0Ѵ; |o |u-7; |_;v; Cm-m1b-Ѵ -vv;|v 7†; |o
-vv;|vķ ou -v 7;ubˆ-ঞˆ;v 7;vb]m-|;7 -v _;7]bm]
bm-1ঞˆ; l-uh;|v -m7 l-m-];l;m|Ľv bm|;mঞom |o
bmv|u†l;m|vbm-m;@;1ঞˆ;_;7];ķ-v-rruorub-|;ĺ
v;ѴѴ |_;l bm |_; =ou;v;;-0Ѵ; =†|†u; vb]mbC1-m|Ѵ‹
$_;olr-m‹7;|;ulbm;v|_;1Ѵ-vvbC1-ঞomo=b|v
1_-m];vķ |_; olr-m‹ l-‹ ;Ѵ;1| |o u;1Ѵ-vvb=‹
Cm-m1b-Ѵ-vv;|v-|bmbঞ-Ѵu;1o]mbঞomĺ
|_;v; Cm-m1b-Ѵ -vv;|v bm u-u; 1bu1†lv|-m1;vĺ
$_; u;1Ѵ-vvbC1-ঞom |o Ѵo-mv -m7 u;1;bˆ-0Ѵ;vķ
 ѴѴ Cm-m1b-Ѵ -vv;|v -u; u;1o]mbv;7 bmbঞ-ѴѴ‹ -|
available-for-sale or held to maturity depends on
fair value plus, in the case of assets not at fair
|_;m-|†u;o=|_;-vv;|ĺ$_bv;ˆ-Ѵ†-ঞom7o;vmo|
ˆ-Ѵ†; |_uo†]_ ruoC| ou Ѵovvķ 7bu;1|Ѵ‹ -‚ub0†|-0Ѵ;
-@;1|-m‹Cm-m1b-Ѵ-vv;|v7;vb]m-|;7-|=-buˆ-Ѵ†;
|u-mv-1ঞom1ov|vĺ
|_uo†]_ruoC|ouѴovv†vbm]|_;=-buˆ-Ѵ†;orঞom-|
7;vb]m-ঞomĺ

OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015
0ő o-mv-m7!;1;bˆ-0Ѵ;v
 o-mv-m7u;1;bˆ-0Ѵ;v-u;momŊ7;ubˆ-ঞˆ;Cm-m1b-Ѵ
-vv;|v ‰b|_ CŠ;7 ou 7;|;ulbm-0Ѵ; r-‹l;m|v
|_-| -u; mo| t†o|;7 bm -m -1ঞˆ; l-uh;|ĺ [;u
bmbঞ-Ѵ l;-v†u;l;m|ķ v†1_ Cm-m1b-Ѵ -vv;|v -u;
v†0v;t†;m|Ѵ‹ l;-v†u;7 -| -louঞv;7 1ov| †vbm]
|_; ;@;1ঞˆ; bm|;u;v| u-|; l;|_o7 Ő!őķ Ѵ;vv
blr-bul;m|ĺ louঞv;7 1ov| bv 1-Ѵ1†Ѵ-|;7 0‹
|-hbm]bm|o-11o†m|-m‹7bv1o†m|ouru;lb†lom
-1t†bvbঞom-m7=;;vou1ov|v|_-|-u;-mbm|;]u-Ѵ
r-u|o=|_;!ĺ$_;!-louঞv-ঞombvbm1Ѵ†7;7
bm Cm-m1; bm1ol; bm |_; bm1ol; v|-|;l;m|ĺ$_;
Ѵovv;v-ubvbm]=uolblr-bul;m|-u;u;1o]mbv;7bm
|_;bm1ol;v|-|;l;m|bmCm-m1;1ov|vĺ
bm-m1b-Ѵvv;|v
 ;Ŋu;1o]mbঞom
  Cm-m1b-Ѵ -vv;| Őouķ ‰_;u; -rrѴb1-0Ѵ; - r-u| o=
-Cm-m1b-Ѵ-vv;|our-u|o=-olr-m‹o=vblbѴ-u
Cm-m1b-Ѵ-vv;|vőbv7;u;1o]mbv;7‰_;mĹ
Ŏ $_;ub]_|v|ou;1;bˆ;1-v_Yo‰v=uol|_;
-vv;|_-ˆ;;Šrbu;7
Ŏ $_; uo†r _-v |u-mv=;uu;7 b|v ub]_|v |o
u;1;bˆ;1-v_Yo‰v=uol|_;-vv;|ou_-v
-vv†l;7-mo0Ѵb]-ঞom|or-‹|_;u;1;bˆ;7
1-v_ Yo‰v bm =†ѴѴ‰b|_o†| l-|;ub-Ѵ 7;Ѵ-‹
|o - |_bu7 r-u|‹ †m7;u - ļr-vvŊ|_uo†]_Ľ
-uu-m];l;m|ĸ-m7;b|_;uŐ-ő|_;olr-m‹
_-v |u-mv=;uu;7 v†0v|-mঞ-ѴѴ‹ -ѴѴ |_; ubvhv
-m7 u;‰-u7v o= |_; -vv;|ķ ou Ő0ő |_;
Company has neither transferred nor
u;|-bm;7 v†0v|-mঞ-ѴѴ‹ -ѴѴ |_; ubvhv -m7
u;‰-u7vo=|_;-vv;|ķ0†|_-v|u-mv=;uu;7
1om|uoѴo=|_;-vv;|ĺ
 )_;m|_;uo†r_-v|u-mv=;uu;7b|vub]_|v
|ou;1;bˆ;1-v_Yo‰v=uol-m-vv;|ou_-v
bm-m1b-Ѵvv;|v1-uub;7-|louঞŒ;7ov|
;m|;u;7bm|o-r-vvŊ|_uo†]_-uu-m];l;m|ķ
and has neither transferred nor retained
ou Cm-m1b-Ѵ -vv;|v 1-uub;7 -| -louঞv;7 1ov|ķ
v†0v|-mঞ-ѴѴ‹ -ѴѴ o= |_; ubvhv -m7 u;‰-u7v
of the asset nor transferred control of it,
|_; -vv;| bv u;1o]mbv;7 |o |_; ;Š|;m| o=
|_;olr-m‹Ľv1omঞm†bm]bmˆoѴˆ;l;m|bm
b|ĺ
77
 m |_-| 1-v;ķ |_; uo†r -Ѵvo u;1o]mbv;v
-m -vvo1b-|;7 Ѵb-0bѴb|‹ĺ $_; |u-mv=;uu;7
asset and the associated liability are
l;-v†u;7 om - 0-vbv |_-| u;Y;1|v |_;
ub]_|v-m7o0Ѵb]-ঞomv|_-||_;olr-m‹
_-vu;|-bm;7ĺ
 omঞm†bm] bmˆoѴˆ;l;m| |_-| |-h;v |_;
=oulo=-]†-u-m|;;oˆ;u|_;|u-mv=;uu;7
-vv;| bv l;-v†u;7 -| |_; Ѵo‰;u o= |_;
oub]bm-Ѵ1-uu‹bm]-lo†m|o=|_;-vv;|-m7
|_; l-Šbl†l -lo†m| o= 1omvb7;u-ঞom
that the Group could be required to
u;r-‹ĺ
 lr-bul;m|o=
 $_; uo†r -vv;vv;v -| ;-1_ u;rouঞm] 7-|;
‰_;|_;u |_;u; bv -m‹ o0f;1ঞˆ; ;ˆb7;m1; |_-| -
Cm-m1b-Ѵ -vv;| ou - ]uo†r o= Cm-m1b-Ѵ -vv;|v bv
blr-bu;7ĺCm-m1b-Ѵ-vv;|ou-]uo†ro=Cm-m1b-Ѵ
assets is deemed to be impaired if, and only if,
|_;u; bv o0f;1ঞˆ; ;ˆb7;m1; o= blr-bul;m| -v -
result of one or more events that has occurred
-[;u|_;bmbঞ-Ѵu;1o]mbঞomo=|_;-vv;|Ő-mbm1†uu;7
‘loss event’) and that loss event has an impact on
|_; ;vঞl-|;7 =†|†u; 1-v_ Yo‰v o= |_; Cm-m1b-Ѵ
-vv;|ou|_;]uo†ro=Cm-m1b-Ѵ-vv;|v|_-|1-m0;
u;Ѵb-0Ѵ‹ ;vঞl-|;7ĺ ˆb7;m1; o= blr-bul;m| l-‹
bm1Ѵ†7; bm7b1-ঞomv |_-| |_; 7;0|ouv ou - ]uo†r
o= 7;0|ouv bv ;Šr;ub;m1bm] vb]mbC1-m| Cm-m1b-Ѵ
7bL1†Ѵ|‹ķ 7;=-†Ѵ| ou 7;Ѵbmt†;m1‹ bm bm|;u;v| ou
rubm1br-Ѵr-‹l;m|vķ|_;ruo0-0bѴb|‹|_-||_;‹‰bѴѴ
;m|;u0-mhu†r|1‹ouo|_;uCm-m1b-Ѵu;ou]-mbv-ঞom
-m7‰_;u;o0v;uˆ-0Ѵ;7-|-bm7b1-|;|_-||_;u;bv-
l;-v†u-0Ѵ;7;1u;-v;bm|_;;vঞl-|;7=†|†u;1-v_
Yo‰vķ v†1_ -v 1_-m];v bm -uu;-uv ou ;1omolb1
1om7bঞomv|_-|1ouu;Ѵ-|;‰b|_7;=-†Ѵ|vĺ


|_; uo†r Cuv| -vv;vv;v ‰_;|_;u o0f;1ঞˆ;
;ˆb7;m1; o= blr-bul;m| ;Šbv|v bm7bˆb7†-ѴѴ‹ =ou
Cm-m1b-Ѵ -vv;|v |_-| -u; bm7bˆb7†-ѴѴ‹ vb]mbC1-m|ķ
ou 1oѴѴ;1ঞˆ;Ѵ‹ =ou Cm-m1b-Ѵ -vv;|v |_-| -u; mo|
bm7bˆb7†-ѴѴ‹ vb]mbC1-m|ĺ = |_; uo†r 7;|;ulbm;v
|_-| mo o0f;1ঞˆ; ;ˆb7;m1; o= blr-bul;m| ;Šbv|v
=ou -m bm7bˆb7†-ѴѴ‹ -vv;vv;7 Cm-m1b-Ѵ -vv;|ķ
78 INSPIRING
GENERATIONS

Notes to the Financial Statements

Year ended 31 December 2015

‰_;|_;uvb]mbC1-m|oumo|ķb|bm1Ѵ†7;v|_;-vv;|bm
-]uo†ro=Cm-m1b-Ѵ-vv;|v‰b|_vblbѴ-u1u;7b|ubvh
1_-u-1|;ubvঞ1v-m71oѴѴ;1ঞˆ;Ѵ‹-vv;vv;v|_;l=ou
bm-m1b-Ѵ Ѵb-0bѴbঞ;v ‰b|_bm |_; v1or; o= " ƒƖ
blr-bul;m|ĺ vv;| |_-| -u; bm7bˆb7†-ѴѴ‹ -vv;vv;7
=oublr-bul;m|-m7=ou‰_b1_-mblr-bul;m|Ѵovv
bvķou1omঞm†;v|o0;ķu;1o]mbv;7-u;mo|bm1Ѵ†7;7
bm-1oѴѴ;1ঞˆ;-vv;vvl;m|o=blr-bul;m|ĺ
 =|_;u;bvo0f;1ঞˆ;;ˆb7;m1;|_-|-mblr-bul;m|
loss has been incurred, the amount of the loss
bv l;-v†u;7 -v |_; 7b@;u;m1; 0;|‰;;m |_;
-vv;|v 1-uu‹bm] -lo†m| -m7 |_; ru;v;m| ˆ-Ѵ†;
o= ;vঞl-|;7 =†|†u; 1-v_ Yo‰v Ő;Š1Ѵ†7bm] =†|†u;
;Šr;1|;7 1u;7b| Ѵovv;v |_-| _-ˆ; mo| ‹;| 0;;m
bm1†uu;7őĺ $_; ru;v;m| ˆ-Ѵ†; o= |_; ;vঞl-|;7
=†|†u;1-v_Yo‰v-u;7bv1o†m|;7-||_;Cm-m1b-Ѵ
-vv;|Ľv oub]bm-Ѵ ;@;1ঞˆ; bm|;u;v| u-|;ĺ = - Ѵo-m
has a variable interest rate, the discount rate for
l;-v†ubm] -m‹ blr-bul;m| Ѵovv bv |_; 1†uu;m|
;@;1ঞˆ;bm|;u;v|u-|;ĺ
 mbঞ-Ѵ!;1o]mbঞom-m7;-v†u;l;m|

-u; 1Ѵ-vvbC;7 -v Cm-m1b-Ѵ Ѵb-0bѴbঞ;v -| =-bu ˆ-Ѵ†;
|_uo†]_ ruoC| ou Ѵovvķ Ѵo-mv -m7 0ouuo‰bm]vķ ou
-v7;ubˆ-ঞˆ;v7;vb]m-|;7-v_;7]bm]bmv|u†l;m|v
bm-m;@;1ঞˆ;_;7];ķ-v-rruorub-|;ĺ$_;uo†r
7;|;ulbm;v |_; 1Ѵ-vvbC1-ঞom o= b|v Cm-m1b-Ѵ
Ѵb-0bѴbঞ;v-|bmbঞ-Ѵu;1o]mbঞomĺ
 ѴѴCm-m1b-ѴѴb-0bѴbঞ;v-u;u;1o]mbv;7bmbঞ-ѴѴ‹-|=-bu
ˆ-Ѵ†; -m7ķ bm |_; 1-v; o= Ѵo-mv -m7 0ouuo‰bm]vķ
1-uub;7 -| -louঞv;7 1ov|ĺ $_bv bm1Ѵ†7;v 7bu;1|Ѵ‹
-‚ub0†|-0Ѵ; |u-mv-1ঞom 1ov|vĺ m‹ 7b@;u;m1;
0;|‰;;mbmbঞ-Ѵ=-buˆ-Ѵ†;-m7|_;molbm-Ѵ-lo†m|
bv bm1Ѵ†7;7 -v - 1olrom;m| o= or;u-ঞm] Ѵ;-v;
bm1ol; -m7 u;1o]mbŒ;7 om - v|u-b]_| Ѵbm; 0-vbv
oˆ;u|_;-rrѴb1-0Ѵ;ঞl;r;ubo7ĺ
Subsequent Measurement

 $_; l;-v†u;l;m| o= Cm-m1b-Ѵ Ѵb-0bѴbঞ;v 7;r;m7v

 $_; 1-uu‹bm] -lo†m| o= |_; -vv;| bv u;7†1;7
|_uo†]_ |_; †v; o= -m -ѴѴo‰-m1; -11o†m| -m7
|_; -lo†m| o= |_; Ѵovv bv u;1o]mbv;7 bm |_;
bm1ol; v|-|;l;m|ĺ m|;u;v| bm1ol; 1omঞm†;v
|o 0; -11u†;7 om |_; u;7†1;7 1-uu‹bm] -lo†m|
-m7bv-11u†;7†vbm]|_;u-|;o=bm|;u;v|†v;7|o
7bv1o†m| |_; =†|†u; 1-v_ Yo‰v =ou |_; r†urov;
o= l;-v†ubm] |_; blr-bul;m| Ѵovvĺ $_; bm|;u;v|
bm1ol; bv u;1ou7;7 -v r-u| o= Cm-m1; bm1ol;
bm |_; bm1ol; v|-|;l;m|ĺ o-mv |o];|_;u ‰b|_
|_; -vvo1b-|;7 -ѴѴo‰-m1; -u; ‰ub‚;m o@ ‰_;m
|_;u; bv mo u;-Ѵbvঞ1 ruovr;1| o= =†|†u; u;1oˆ;u‹
and all collateral has been realised or has been
|u-mv=;uu;7 |o |_; uo†rĺ =ķ bm - v†0v;t†;m|
‹;-uķ |_; -lo†m| o= |_; ;vঞl-|;7 blr-bul;m|
loss increases or decreases because of an event
o11†uubm] -[;u |_; blr-bul;m| ‰-v u;1o]mbv;7ĸ
|_; ru;ˆbo†vѴ‹ u;1o]mbv;7 blr-bul;m| Ѵovv bv
bm1u;-v;7ouu;7†1;70‹-7f†vঞm]|_;-ѴѴo‰-m1;
-11o†m|ĺ = - =†|†u; ‰ub|;Ŋo@ bv Ѵ-|;u u;1oˆ;u;7ķ
|_; u;1oˆ;u‹ bv 1u;7b|;7 |o Cm-m1; 1ov|v bm |_;
bm1ol;v|-|;l;m|ĺ
2.3.10.2
bm-m1b-Ѵb-0bѴbঞ;v
 $_;uo†rĽvCm-m1b-ѴѴb-0bѴbঞ;vbm1Ѵ†7;$u-7;-m7
|_;u -‹-0Ѵ;vķ †;v |o !;Ѵ-|;7 -uঞ;vķ !;m|-Ѵ
-m7 †v|ol;u ;rovb|v -m7 m|;u;v| ;-ubm]
o-mv-m7ouuo‰bm]vĺ
om|_;bu1Ѵ-vvbC1-ঞom-v=oѴѴo‰vĹ
Loans and Borrowings
 [;u bmbঞ-Ѵ u;1o]mbঞomķ bm|;u;v| 0;-ubm] Ѵo-mv
-m7 0ouuo‰bm]v -u; v†0v;t†;m|Ѵ‹ l;-v†u;7
-| -louঞv;7 1ov| †vbm] |_; ;@;1ঞˆ; bm|;u;v|
u-|; l;|_o7ĺ -bmv -m7 Ѵovv;v -u; u;1o]mbv;7
bm |_; bm1ol; v|-|;l;m|‰_;m |_; Ѵb-0bѴbঞ;v -u;
7;u;1o]mbv;7 -v ‰;ѴѴ -v |_uo†]_ |_; ;@;1ঞˆ;
bm|;u;v|u-|;l;|_o7Ő!ő-louঞv-ঞomruo1;vvĺ
 louঞv;7 1ov| bv 1-Ѵ1†Ѵ-|;7 0‹ |-hbm] bm|o
-11o†m|-m‹7bv1o†m|ouru;lb†lom-1t†bvbঞom
-m7=;;vou1ov|v|_ov;-u;-mbm|;]u-Ѵr-u|o=|_;
!ĺ $_; ! -louঞv-ঞom bv bm1Ѵ†7;7 bm Cm-m1;
1ov|vbm|_;bm1ol;v|-|;l;m|ĺ
 ;Ŋu;1o]mbঞom
  Cm-m1b-Ѵ Ѵb-0bѴb|‹ bv 7;u;1o]mbv;7 ‰_;m |_;
o0Ѵb]-ঞom †m7;u |_; Ѵb-0bѴb|‹ bv 7bv1_-u];7 ou
1-m1;ѴѴ;7 ou ;Šrbu;vĺ )_;m -m ;Šbvঞm] Cm-m1b-Ѵ
liability is replaced by another from the same
Ѵ;m7;u om v†0v|-mঞ-ѴѴ‹ 7b@;u;m| |;ulvķ ou |_;
|;ulv o= -m ;Šbvঞm] Ѵb-0bѴb|‹ -u; v†0v|-mঞ-ѴѴ‹
lo7bC;7ķ v†1_ -m ;Š1_-m]; ou lo7bC1-ঞom bv

OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015
|u;-|;7-v-7;Ŋu;1o]mbঞomo=|_;oub]bm-ѴѴb-0bѴb|‹
-m7 |_; u;1o]mbঞom o= - m;‰ Ѵb-0bѴb|‹ķ -m7 |_;
7b@;u;m1; bm |_; u;vr;1ঞˆ; 1-uu‹bm] -lo†m|v bv
u;1o]mbv;7bm|_;bm1ol;v|-|;l;m|ĺ
2.3.10.3 Fair Value Measurement

-buˆ-Ѵ†;bv|_;rub1;|_-|‰o†Ѵ70;u;1;bˆ;7|ov;ѴѴ
an asset or paid to transfer a liability in an orderly
|u-mv-1ঞom 0;|‰;;m l-uh;| r-uঞ1br-m|v -| |_;
l;-v†u;l;m| 7-|;ĺ $_; =-bu ˆ-Ѵ†; l;-v†u;l;m|
bv0-v;7om|_;ru;v†lrঞom|_-||_;|u-mv-1ঞom
to sell the asset or transfer the liability takes place
;b|_;uĹ
Ŏ m |_; rubm1br-Ѵ l-uh;| =ou |_; -vv;| ou
liability
Or
Ŏ m |_; -0v;m1; o= - rubm1br-Ѵ l-uh;|ķ bm
|_; lov| -7ˆ-m|-];o†v l-uh;| =ou |_;
asset or liability
 $_; rubm1br-Ѵ ou |_; lov| -7ˆ-m|-];o†v
l-uh;|l†v|0;-11;vvb0Ѵ;0‹|_;uo†rĺ
The fair value of an asset or a liability is
l;-v†u;7 †vbm] |_; -vv†lrঞomv |_-|
ou -vv;|v -m7 Ѵb-0bѴbঞ;v |_-| -u;
l-uh;| r-uঞ1br-m|v ‰o†Ѵ7 †v; ‰_;m
rub1bm]|_;-vv;|ouѴb-0bѴb|‹ķ-vv†lbm]|_-|
l-uh;|r-uঞ1br-m|v-1|bm|_;bu;1omolb1
0;v|bm|;u;v|ĺ
A fair value measurement of a non-
Cm-m1b-Ѵ-vv;||-h;vbm|o-11o†m|-l-uh;|
r-uঞ1br-m|Ľv-0bѴb|‹|o];m;u-|;;1omolb1
0;m;C|v0ܠvbm]|_;-vv;|bmb|v_b]_;v|
-m7 0;v| †v; ou 0‹ v;ѴѴbm] b| |o -mo|_;u
l-uh;| r-uঞ1br-m| |_-| ‰o†Ѵ7 †v; |_;
-vv;|bmb|v_b]_;v|-m70;v|†v;ĺ
 $_;uo†r†v;vˆ-Ѵ†-ঞom|;1_mbt†;v|_-|
are appropriate in the circumstances and
=ou‰_b1_v†L1b;m|7-|--u;-ˆ-bѴ-0Ѵ;|o
l;-v†u;=-buˆ-Ѵ†;ķl-Šblbvbm]|_;†v;o=
u;Ѵ;ˆ-m|o0v;uˆ-0Ѵ;bmr†|v-m7lbmblbvbm]
|_;†v;o=†mo0v;uˆ-0Ѵ;bmr†|vĺ
79
 ѴѴ-vv;|v-m7Ѵb-0bѴbঞ;v=ou‰_b1_=-buˆ-Ѵ†;
bv l;-v†u;7 ou 7bv1Ѵov;7 bm |_; Cm-m1b-Ѵ
v|-|;l;m|v -u; 1-|;]oubv;7 ‰b|_bm |_;
=-buˆ-Ѵ†;_b;u-u1_‹ķ7;v1ub0;7-v=oѴѴo‰vķ
0-v;7 om |_; Ѵo‰;v| Ѵ;ˆ;Ѵ bmr†| |_-| bv
vb]mbC1-m||o|_;=-buˆ-Ѵ†;l;-v†u;l;m|
-v-‰_oѴ;Ĺ
Ŏ ;ˆ;Ѵ Ɛ Ŋ †o|;7 Նm-7f†v|;7ő l-uh;|
rub1;v bm -1ঞˆ; l-uh;|v =ou b7;mঞ1-Ѵ
-vv;|vouѴb-0bѴbঞ;v
Ŏ ;ˆ;ѴƑŊ(-Ѵ†-ঞom|;1_mbt†;v=ou‰_b1_
|_;Ѵo‰;v|Ѵ;ˆ;Ѵbmr†||_-|bvvb]mbC1-m||o
the fair value meas-urement is directly or
indirectly observable
Ŏ ;ˆ;ѴƒŊ(-Ѵ†-ঞom|;1_mbt†;v=ou‰_b1_
|_; Ѵo‰;v| Ѵ;ˆ;Ѵ bmr†| |_-| bv vb]mbC1-m|
to the fair value meas-urement is
unobservable for the purpose of fair value
7bv1Ѵov†u;vķ |_; ]uo†r _-v 7;|;ulbm;7
1Ѵ-vv;v o= -vŊv;|v -m7 Ѵb-0bѴbঞ;v om |_;
0-vbv o= |_; m-|†u;ķ 1_-u-1|;ubvঞ1v -m7
risks of the asset or liability and the level
o= |_; =-bu ˆ-Ѵ†; _b;u-u1_‹ -v ;ŠrѴ-bm;7
-0oˆ;ĺ

u;1o]mbv;7bm|_;Cm-m1b-Ѵv|-|;l;m|vom
-u;1†uubm]0-vbvķ|_;uo†r7;Ŋ|;ulbm;v
‰_;|_;u|u-mv=;uv_-ˆ;o11†uu;70;|‰;;m
Ѵ;ˆ;Ѵv bm |_; _b;u-u1_‹ 0‹ u;Ŋ-vv;vvbm]
1-|;]oubŒ-ঞomŐ0-v;7om|_;Ѵo‰;v|Ѵ;ˆ;Ѵ
bmr†| |_-| bv vb]mbC1-m| |o |_; =-bu ˆ-Ѵ†;
l;-v†u;l;m| -v - ‰_oѴ;ő -| |_; ;m7 o=
;-1_u;rouঞm]r;ubo7ĺ
 $_; -m-];l;m| o= |_; olr-m‹
determines the policies and procedures
=ou 0o|_ u;1†uubm] =-bu ˆ-Ѵ†; l;-vŊ
†u;l;m|ķ v†1_ -v bmˆ;v|l;m| ruor;uঞ;v
and Property, Plant and Equipment-
†bѴ7bm]vĺ
 Š|;um-Ѵ ˆ-Ѵ†;uķ uĺ ĺ -Ѵ†]-Ѵ];7-u-
bv bmˆoѴˆ;7 bm ˆ-Ѵ†-ঞom o= vb]mbC1-m|
-vv;|vķv†1_-vmˆ;v|l;m|ruor;uঞ;v-m7
†bѴ7bm]vĺ
80 INSPIRING
GENERATIONS

Notes to the Financial Statements

Year ended 31 December 2015

 mˆoѴˆ;l;m|o=;Š|;um-Ѵˆ-Ѵ†;uvbv7;1b7;7 ƑĺƒĺƐƑ mˆ;v|l;m|uor;u|‹

†rom-mm†-ѴѴ‹0‹|_;-m-];l;m|-[;u
7bv1†vvbom ‰b|_ -m7    -rruoˆ-Ѵ 0‹ |_;  uor;u|‹ |_-| bv _;Ѵ7 =ou Ѵom] |;ul u;m|-Ѵ ‹b;Ѵ7v
olr-m‹Ľv †7b| ollb‚;;ĺ ";Ѵ;1ঞom ou=ou1-rb|-Ѵ-rru;1b-ঞomou0o|_-m7|_-|bvmo|
1ub|;ub- bm1Ѵ†7; l-uh;| hmo‰Ѵ;7];ķ o11†rb;70‹|_;;mঞঞ;vbm|_;uo†rbv1Ѵ-vvbC;7
u;r†|-ঞomķ bm7;Ŋr;m7;m1; -m7 ‰_;|_;u -vmˆ;v|l;m|uor;u|‹ĺ
ruo=;vvbom-Ѵ v|-m7-u7v -u; l-bm|-bm;7ĺ
Investment Property comprises freehold land,
$_; -m-];l;m|ķ -[;u 7bv1†vvbomv
=u;;_oѴ70†bѴ7bm]v|o];|_;u‰b|_|_;bm|;]u-Ѵr-u|v
‰b|_ |_; uo†rĽv ;Š|;um-Ѵ ˆ-Ѵ†;uķ ‰_b1_
o=v†1_ruor;uঞ;vĺ
ˆ-Ѵ†-ঞom |;1_mbt†;v -m7 bmr†|v |o †v;
=ou;-1_1-v;ĺ
 mˆ;v|l;m| uor;u|‹ bv l;-v†u;7 bmbঞ-ѴѴ‹ -| b|v
1ov|ķ bm1Ѵ†7bm] u;Ѵ-|;7 |u-mv-1ঞom 1ov|vĺ [;u
 |;-1_u;rouঞm]7-|;ķ|_;-m-];l;m|
bmbঞ-Ѵu;1o]mbঞomķmˆ;v|l;m|uor;u|‹bv1-uub;7
analyses the movements in the values
-|=-buˆ-Ѵ†;ĺ
o= -vv;|v ‰_b1_ -u; u;t†bu;7 |o 0; u;Ŋ
measured or re-assessed as per the
 $_; =-bu ˆ-Ѵ†; o= mˆ;v|l;m| uor;u|‹ u;Y;1|vķ
uo†rĽv -11o†mঞm] roѴb1b;vĺ ou |_bv
-lom] o|_;u |_bm]vķ u;m|-Ѵ bm1ol; =uol 1†uu;m|
-m-Ѵ‹vbvķ |_; -m-];l;m| ˆ;ubC;v
Ѵ;-v;v -m7 -vv†lrঞomv -0o†| u;m|-Ѵ bm1ol;
the major inputs applied in the latest
=uol=†|†u;Ѵ;-v;vbm|_;Ѵb]_|o=1†uu;m|l-uh;|
ˆ-Ѵ†-ঞom 0‹ -]u;;bm] |_; bm=oul-ঞom bm
1om7bঞomvķ -v -rru-bv;7 0‹ -m bm7;r;m7;m|
|_; ˆ-Ѵ†-ঞom 1olr†|-ঞom |o 1om|u-1|v
ˆ-Ѵ†;uķ-mm†-ѴѴ‹ĺ
-m7o|_;uu;Ѵ;ˆ-m|7o1†l;m|vĺ
 "†0v;t†;m|;Šr;m7b|†u;bv1_-u];7|o|_;-vv;|Ľv
 $_;-m-];l;m|ķbm1omf†m1ঞom‰b|_|_;
1-uu‹bm] -lo†m| omѴ‹ ‰_;m b| bv ruo0-0Ѵ; |_-|
uo†rĽv;Š|;um-Ѵˆ-Ѵ†;uķ-Ѵvo1olr-u;v|_;
=†|†u; ;1omolb1 0;m;C|v -vvo1b-|;7 ‰b|_ |_;
1_-m];bm|_;=-buˆ-Ѵ†;o=;-1_-vv;|‰b|_
b|;l‰bѴѴ Yo‰ |o |_; uo†r -m7 |_; 1ov| o= |_;
u;Ѵ;ˆ-m| ;Š|;um-Ѵ vo†u1;v |o 7;|;ulbm;
b|;l 1-m 0; l;-v†u;7 u;Ѵb-0Ѵ‹ĺ ѴѴ o|_;u u;r-buv
‰_;|_;u|_;1_-m];bvu;-vom-0Ѵ;ĺ
-m7l-bm|;m-m1;1ov|v-u;1_-u];7|o|_;m1ol;
"|-|;l;m| 7†ubm] |_; Cm-m1b-Ѵ r;ubo7 bm ‰_b1_
For the purpose of fair value disclosures,
|_;‹-u;bm1†uu;7ĺ
the Group has determined classes of
-vv;|v-m7Ѵb-0bѴbঞ;vom|_;0-Ŋvbvo=|_;
 -bmv ou Ѵovv;v -ubvbm] =uol 1_-m];v bm |_; =-bu
m-|†u;ķ 1_-u-1|;ubvঞ1v -m7 ubvhv o= |_;
ˆ-Ѵ†;v o= bmˆ;v|l;m| ruor;uঞ;v -u; bm1Ѵ†7;7 bm
asset or liability and the level of the fair
|_;ruoC|ouѴovvbm|_;r;ubo7bm‰_b1_|_;‹-ubv;ĺ
ˆ-Ѵ†;_b;u-u1_‹-v;ŠrѴ-bm;7-0oˆ;ĺ
Fair values are determined based on an annual
;ˆ-Ѵ†-ঞom r;u=oul;7 0‹ -m -11u;7b|;7 ;Š|;um-Ѵ
ƑĺƒĺƐƐ mˆ;v|l;m|v
bm7;r;m7;m| ˆ-Ѵ†;u -rrѴ‹bm] - ˆ-Ѵ†-ঞom lo7;Ѵ
-ő mˆ;v|l;m|bm"†0vb7b-ub;v u;1oll;m7;7 0‹ |_; m|;um-ঞom-Ѵ (-Ѵ†-ঞom
"|-m7-u7vollb‚;;ĺ
 om] |;ul bmˆ;v|l;m|v -u; v|-|;7 -| 1ov| bm
|_; 1olr-m‹Ľv Cm-m1b-Ѵ "|-|;l;m|vĺ -uu‹bm]  = -m mˆ;v|l;m| uor;u|‹ 0;1ol;v o‰m;u
-lo†m|v-u;u;7†1;7|ou;1o]mbŒ;-7;1Ѵbm;o|_;u o11†rb;7ķ b| bv u;1Ѵ-vvbC;7 -v uor;u|‹ķ Ѵ-m|
than temporary, determined for each investment and Equipment and its fair value at the date of
bm7bˆb7†-ѴѴ‹ĺ $_;v; u;7†1ঞomv =ou o|_;u |_-m u;1Ѵ-vvbC1-ঞom 0;1ol;v b|v 1ov| =ou -11o†mঞm]
|;lrou-u‹ 7;1Ѵbm;v bm 1-uu‹bm] -lo†m|v -u; r†urov;vĺ uor;u|‹ |_-| bv 0;bm] 1omv|u†1|;7 ou
1_-u];7|o|_;m1ol;"|-|;l;m|ĺ developed for future use as Investment Property
bv1Ѵ-vvbC;7-vruor;u|‹ķrѴ-m|-m7;t†brl;m|-m7
v|-|;7-|1ov|†mঞѴ1omv|u†1ঞomou7;ˆ;Ѵorl;m|
 81
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

bv 1olrѴ;|;ĺ | |_-| ঞl;ķ b| bv u;1Ѵ-vvbC;7 -m7 (not applicable to the Group) and the return on
subsequently accounted for as Investment rѴ-m-vv;|vŐ;Š1Ѵ†7bm]m;|bm|;u;v|őķ-u;u;1o]mbŒ;7
uor;u|‹ĺ bll;7b-|;Ѵ‹bm|_;v|-|;l;m|o=Cm-m1b-Ѵrovbঞom
‰b|_ - 1ouu;vrom7bm] 7;0b| ou 1u;7b| |o u;|-bm;7
ƑĺƒĺƐƒ uoˆbvbomv ;-umbm]v|_uo†]_|_;uolru;_;mvbˆ;m1ol;bm
|_;r;ubo7bm‰_b1_|_;‹o11†uĺ!;Ŋl;-v†u;l;m|v
 uoˆbvbomv -u; u;1o]mbŒ;7 ‰_;m |_; uo†r _-v
-u;mo|u;1Ѵ-vvbC;7|oruoC|ouѴovvbmv†0v;t†;m|
- ru;v;m| o0Ѵb]-ঞom ŐѴ;]-Ѵ ou 1omv|u†1ঞˆ;ő -v
r;ubo7vĺ
- u;v†Ѵ| o= - r-v| ;ˆ;m|ķ ‰_;u; b| bv ruo0-0Ѵ;
|_-| -m o†Ѵo‰ o= u;vo†u1;v ;l0o7‹bm]  -v|v;uˆb1;1ov|v-u;u;1o]mbv;7bmruoC|ouѴovv
;1omolb1 0;m;C|v ‰bѴѴ 0; u;t†bu;7 |o v;‚Ѵ; |_; om|_;;-uѴb;uo=Ĺ
o0Ѵb]-ঞom -m7 - u;Ѵb-0Ѵ; ;vঞl-|; 1-m 0; l-7;
o= |_; -lo†m| o= |_; o0Ѵb]-ঞomĺ )_;m |_; - The date of the plan amendment or
uo†r ;Šr;1|v vol; ou -ѴѴ o= - ruoˆbvbom |o 0; curtailment, and
u;bl0†uv;7ķ|_;u;bl0†uv;l;m|bvu;1o]mbŒ;7-v-
v;r-u-|;-vv;|0†|omѴ‹‰_;m|_;u;bl0†uv;l;m| Ŋ $_; 7-|; |_-| |_; uo†r u;1o]mbv;v
bv ˆbu|†-ѴѴ‹ 1;u|-bmĺ $_; ;Šr;mv; u;Ѵ-ঞm] |o -m‹ u;v|u†1|†ubm]Ŋu;Ѵ-|;71ov|v
provision is presented in the Income Statement
 ;| bm|;u;v| bv 1-Ѵ1†Ѵ-|;7 0‹ -rrѴ‹bm]
m;| o= -m‹ u;bl0†uv;l;m|ĺ = |_; ;@;1| o= |_;
|_; 7bv1o†m| u-|; |o |_; m;| 7;Cm;7
ঞl; ˆ-Ѵ†; o= lom;‹ bv l-|;ub-Ѵķ ruoˆbvbomv -u;
0;m;C| Ѵb-0bѴb|‹ĺ $_; uo†r u;1o]mbv;v
7;|;ulbm;7 0‹ 7bv1o†mঞm] |_; ;Šr;1|;7 =†|†u;
|_;=oѴѴo‰bm]1_-m];vbm|_;m;|7;Cm;7
1-v_Yo‰v-|-ru;Ŋ|-Šu-|;|_-|u;Y;1|v1†uu;m|
0;m;C|o0Ѵb]-ঞom†m7;uļ1ov|o=v-Ѵ;vĽ-m7
l-uh;| -vv;vvl;m|v o= |_; ঞl;ˆ-Ѵ†; o= lom;‹
ļ-7lbmbv|u-ঞom ;Šr;mv;vĽ bm |_; m1ol;
-m7 ‰_;u; -rruorub-|;ķ |_; ubvhv vr;1bC1 |o |_;
"|-|;l;m|Ĺ
Ѵb-0bѴb|‹ĺ)_;u;7bv1o†mঞm]bv†v;7ķ|_;bm1u;-v;
bm |_; ruoˆbvbom 7†; |o |_; r-vv-]; o= ঞl; bv
Ŋ ";uˆb1; 1ov|v 1olrubvbm] 1†uu;m| v;uˆb1;
u;1o]mbŒ;7-v-mbm|;u;v|;Šr;mv;ĺ
1ov|vķ r-v|Ŋv;uˆb1; 1ov|vķ ]-bmv -m7
Ѵovv;v om 1†u|-bѴl;m|v -m7 momŊuo†ঞm;
ƑĺƒĺƐƓ !;ঞu;l;m|;m;C|0Ѵb]-ঞomv
v;‚Ѵ;l;m|v
-ő ;Cm;7;m;C|Ѵ-mŋu-|†b|‹
Ŋ ;|bm|;u;v|;Šr;mv;oubm1ol;
 $_;uo†rbvѴb-0Ѵ;|or-‹]u-|†b|‹bm|;ulvo=|_;
 $_; ]u-|†b|‹ Ѵb-0bѴb|‹ bv mo| ;Š|;um-ѴѴ‹
u-|†b|‹1|oĺƐƑo=ƐƖѶƒĺ
=†m7;7ĺ $_bv b|;l bv v|-|;7 †m7;u
The Group measures the present value of the ov| lrѴo‹;; ;m;C| b-0bѴb|‹ bm |_;
ruolbv;7 u;ঞu;l;m| 0;m;C|v o= ]u-|†b|‹ķ ‰_b1_ "|-|;l;m|o=
bm-m1b-Ѵovbঞomĺ
bv - 7;Cm;7 0;m;C| rѴ-m ‰b|_ |_; -7ˆb1; o= -m
0ő ;Cm;7 om|ub0†ঞom Ѵ-mv ŋ lrѴo‹;;vĽ
bm7;r;m7;m|-1|†-u‹ĺ
uoˆb7;m|
†m7şlrѴo‹;;vĽ$u†v|
†m7

ou|_;r†urov;o=7;|;ulbmbm]|_;1_-u];=ou-m‹
 lrѴo‹;;v -u; ;Ѵb]b0Ѵ; =ou lrѴo‹;;vĽ uoˆb7;m|
r;ubo70;=ou;|_;m;Š|u;]†Ѵ-u-1|†-ub-Ѵˆ-Ѵ†-ঞom

†m7 om|ub0†ঞomv -m7 lrѴo‹;;vĽ $u†v|
†m7
=-ѴѴv7†;ķ-m-rruoŠbl-|;;vঞl-ঞomruoˆb7;70‹
om|ub0†ঞomvbmѴbm;‰b|_|_;u;vr;1ঞˆ;v|-|†|;v
|_;t†-ѴbC;7-1|†-u‹bv†v;7ĺ
-m7 u;]†Ѵ-ঞomvĺ $_; uo†r 1om|ub0†|;v ƐƑѷ
 $_;1ov|o=ruoˆb7bm]0;m;C|v†m7;u|_;7;Cm;7 -m7 ƒѷ o= ]uovv ;loѴ†l;m|v o= ;lrѴo‹;;v |o
0;m;C|rѴ-mbv7;|;ulbm;7†vbm]|_;ruof;1|;7†mb| Employees’ Provident Fund and Employees’ Trust
1u;7b| l;|_o7ĺ !;Ŋl;-v†u;l;m|vķ 1olrubvbm] o=
†m7u;vr;1ঞˆ;Ѵ‹
-1|†-ub-Ѵ ]-bmv -m7 Ѵovv;vķ ;Š1Ѵ†7bm] m;| bm|;u;v|
82 INSPIRING
GENERATIONS
Notes to the Financial Statements
Year ended 31 December 2015
ƑĺƒĺƐƔ lr-bul;m|o=om
bm-m1b-Ѵvv;|v |_;1-uu‹bm]-lo†m|o=|_;-vv;|bvbm1u;-v;7|o
 $_; uo†r -vv;vv;v -| ;-1_ u;rouঞm] 7-|;
‰_;|_;u |_;u; bv -m bm7b1-ঞom |_-| -m -vv;|
l-‹ 0; blr-bu;7ĺ = -m‹ v†1_ bm7b1-ঞom ;Šbv|vķ
ou ‰_;m -mm†-Ѵ blr-bul;m| |;vঞm] =ou -m -vv;|
bv u;t†bu;7ķ |_; uo†r l-h;v -m ;vঞl-|; o=
|_; -vv;|Ľv u;1oˆ;u-0Ѵ; -lo†m|ĺ m -vv;|Ľv
u;1oˆ;u-0Ѵ; -lo†m| bv |_; _b]_;u o= -m -vv;|Ľv
ou 1-v_Ŋ];m;u-ঞm] †mb|Ľv =-bu ˆ-Ѵ†; Ѵ;vv 1ov|v
to sell and its value in use and is determined
for an individual asset, unless the asset does
mo| ];m;u-|; 1-v_ bmYo‰v |_-| -u; Ѵ-u];Ѵ‹
bm7;r;m7;m|o=|_ov;=uolo|_;u-vv;|vou]uo†rv
o= -vv;|vĺ )_;u; |_; 1-uu‹bm] -lo†m| o= -m
-vv;| ;Š1;;7v b|v u;1oˆ;u-0Ѵ; -lo†m|ķ |_; -vv;|
bv1omvb7;u;7blr-bu;7-m7bv‰ub‚;m7o‰m|ob|v
u;1oˆ;u-0Ѵ; -lo†m|ĺ m -vv;vvbm] ˆ-Ѵ†; bm †v;ķ
|_; ;vঞl-|;7 =†|†u; 1-v_ Yo‰v -u; 7bv1o†m|;7
|o |_;bu ru;v;m| ˆ-Ѵ†; †vbm] - ru;Ŋ|-Š 7bv1o†m|
u-|; |_-| u;Y;1|v 1†uu;m| l-uh;| -vv;vvl;m|v o=
|_; ঞl; ˆ-Ѵ†; o= lom;‹ -m7 |_; ubvhv vr;1bC1
|o |_; -vv;|ĺ m 7;|;ulbmbm] =-buˆ-Ѵ†; Ѵ;vv 1ov|v
|o v;ѴѴķ -m -rruorub-|; ˆ-Ѵ†-ঞom lo7;Ѵ bv †v;7ĺ
$_;v;1-Ѵ1†Ѵ-ঞomv-u;1ouuo0ou-|;70‹ˆ-Ѵ†-ঞom
l†ѴঞrѴ;vouo|_;u-ˆ-bѴ-0Ѵ;=-buˆ-Ѵ†;bm7b1-|ouvĺ
 lr-bul;m| Ѵovv;v o= 1omঞm†bm] or;u-ঞomv -u;
!"ő
u;1o]mbv;7 bm |_; m1ol; "|-|;l;m| bm |_ov;
;Šr;mv; 1-|;]oub;v 1omvbv|;m|‰b|_ |_; =†m1ঞom
o= |_; blr-bu;7 -vv;|ķ ;Š1;r| =ou ruor;u|‹
ru;ˆbo†vѴ‹ u;ˆ-Ѵ†;7 ‰_;u; |_; u;ˆ-Ѵ†-ঞom ‰-v
|-h;m |o ;t†b|‹ĺ m |_bv 1-v; |_; blr-bul;m| bv
-Ѵvou;1o]mbv;7bm;t†b|‹†r|o|_;-lo†m|o=-m‹
ru;ˆbo†vu;ˆ-Ѵ†-ঞomĺ
For assets, an assessment is made at each
u;rouঞm]7-|;-v|o‰_;|_;u|_;u;bv-m‹bm7b1-ঞom
!" Ɩ u;rѴ-1;v |_; ;Šbvঞm] ]†b7-m1; bm "
|_-|ru;ˆbo†vѴ‹u;1o]mbŒ;7blr-bul;m|Ѵovv;vl-‹
bm-m1b-Ѵ mv|u†l;m|vĹ !;1o]mbঞom -m7
mo Ѵom];u ;Šbv| ou l-‹ _-ˆ; 7;1u;-v;7ĺ = v†1_
!"Ɩbm1Ѵ†7;vu;ˆbv;7]†b7-m1;
bm7b1-ঞom;Šbv|vķ|_;uo†rl-h;v-m;vঞl-|;o=
|_;u;1oˆ;u-0Ѵ;-lo†m|ĺru;ˆbo†vѴ‹u;1o]mbŒ;7
impairment loss is reversed only if there has been
- 1_-m]; bm |_; ;vঞl-|;v †v;7 |o 7;|;ulbm;
the asset’s recoverable amount since the last
blr-bul;m|Ѵovv‰-vu;1o]mbŒ;7ĺ=|_-|bv|_;1-v;
b|v u;1oˆ;u-0Ѵ; -lo†m|ĺ $_-| bm1u;-v;7 -lo†m|
1-mmo| ;Š1;;7 |_; 1-uu‹bm] -lo†m| |_-| ‰o†Ѵ7
_-ˆ; 0;;m 7;|;ulbm;7ķ m;| o= 7;ru;1b-ঞomķ _-7
moblr-bul;m|Ѵovv0;;mu;1o]mbŒ;7=ou|_;-vv;|
bmrubou‹;-uvĺ"†1_u;ˆ;uv-Ѵbvu;1o]mbŒ;7bm|_;
Income Statement unless the asset is carried at
u;ˆ-Ѵ†;7 -lo†m|ķ bm ‰_b1_ 1-v; |_; u;ˆ;uv-Ѵ bv
|u;-|;7-v-u;ˆ-Ѵ†-ঞombm1u;-v;ĺ
ƑĺƒĺƐѵ"†r;u-bm$-ŠŐ"$ő
As per the provisions of Part III of the Finance
1|ķ oĺ ƐƏ o= ƑƏƐƔ ‰_b1_ ‰-v 1;uঞC;7 om ƒƏ
1|o0;u ƑƏƐƔķ |_; uo†r ‰-v Ѵb-0Ѵ; =ou "†r;u
-bm|-Šo=!vĺƓƖbѴѴbomŐolr-m‹ĸƓƒbѴѴbomőĺ
11ou7bm]|o|_;1|ķ|_;v†r;u]-bm|-Šv_-ѴѴ0;
7;;l;7 |o 0; -m ;Šr;m7b|†u; bm |_; Cm-m1b-Ѵ
v|-|;l;m|v u;Ѵ-ঞm] |o |_; ‹;-u o= -vv;vvl;m|
‰_b1_1oll;m1;7omƐrubѴƑƏƐƒĺ$_;;Šr;mv;
o="†r;u]-bm|-Šbv-11o†m|;7bm-11ou7-m1;‰b|_
the requirements of the said Act as recommended
0‹|_;"|-|;l;m|o=Ѵ|;um-ঞˆ;$u;-|l;m|Ő"o$ő
om11o†mঞm] =ou "†r;u -bm$-Š bvv†;7 0‹ |_;
mvঞ|†|; o= _-u|;u;711o†m|-m|v o= "ub -mh-ķ
7-|;7ƑƓoˆ;l0;uƑƏƐƔĺ
ƑĺƓ @;1|o="ub-mh-11o†mঞm]"|-m7-u7vŐ"
vv†;70†|mo|‹;|@;1ঞˆ;Ĺ
 ;u|-bm m;‰ -11o†mঞm] v|-m7-u7v -m7
-l;m7l;m|vņblruoˆ;l;m|v|o;Šbvঞm]v|-m7-u7v
have been published, that are not mandatory for
ƒƐ ;1;l0;u ƑƏƐƔ u;rouঞm] r;ubo7vĺ om; o=
|_ov;_-ˆ;0;;m;-uѴ‹-7or|;70‹|_;olr-m‹ĺ
SLFRS 9 Financial Instruments
 "
ƒƖ
;-v†u;l;m|ĺ"
om|_;1Ѵ-vvbC1-ঞom-m7l;-v†u;l;m|o=Cm-m1b-Ѵ
bmv|u†l;m|vķ-m;‰;Šr;1|;71u;7b|Ѵovvlo7;Ѵ=ou
1-Ѵ1†Ѵ-ঞm] blr-bul;m| om Cm-m1b-Ѵ -vv;|vķ -m7
m;‰ ];m;u-Ѵ _;7]; -11o†mঞm] u;t†bu;l;m|vĺ |
-Ѵvo1-uub;v=ou‰-u7|_;]†b7-m1;omu;1o]mbঞom
-m7 7;u;1o]mbঞom o= Cm-m1b-Ѵ bmv|u†l;m|v =uol
"ƒƖĺ
 83
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

 " !"Ɩbv;@;1ঞˆ;=ou-mm†-Ѵu;rouঞm]r;ubo7v  $_; =oѴѴo‰bm] -l;m7l;m|v -m7 blruoˆ;l;m|v

0;]bmmbm]omou-[;uƐ-m†-u‹ƑƏƐѶķ‰b|_;-uѴ‹ -u;mo|;Šr;1|;7|o_-ˆ;-vb]mbC1-m|blr-1|om
-7orঞomr;ulb‚;7ĺ |_;olr-m‹ĽvCm-m1b-Ѵv|-|;l;m|vĺ

 " !"ƐƓ!;]†Ѵ-|ou‹ ;=;uu-Ѵ11o†m|v Ŏ Ѵ-ubC1-ঞom o= 11;r|-0Ѵ; ;|_o7v

o= ;ru;1b-ঞom -m7 louঞŒ-ঞom
 " !" ƐƓ bv -m bm|;ubl v|-m7-u7‰_b1_ ruoˆb7;v Ől;m7l;m|v|o"Ɛѵ-m7"ƒѶőĺ
u;Ѵb;==ouCuv|ঞl;Ŋ-7or|;uvo=" !"bmu;Ѵ-ঞom
|o|_;-11o†mঞm]=ou1;u|-bm0-Ѵ-m1;v|_-|-ubv; Ŏ mm†-Ѵ lruoˆ;l;m|v |o " !"v ƑƏƐƑŋ
=uolu-|;Ŋu;]†Ѵ-|;7-1ঞˆbঞ;vŐļu;]†Ѵ-|ou‹7;=;uu-Ѵ ƑƏƐƓ‹1Ѵ;ŋˆ-ubo†vv|-m7-u7vĺ
-11o†m|vĽőĺ$_;v|-m7-u7r;ulb|v|_;v;;mঞঞ;v|o
1omঞm†;|o-rrѴ‹|_;buru;ˆbo†v-11o†mঞm] Ŏ bv1Ѵov†u; mbঞ-ঞˆ; Ől;m7l;m|v |o
roѴb1b;v =ou |_; u;1o]mbঞomķ l;-v†u;l;m|ķ "Ɛőĺ
blr-bul;m| -m7 7;u;1o]mbঞom o= u;]†Ѵ-|ou‹
7;=;uu-Ѵ-11o†m|vĺ

 " !"ƐƓbv;@;1ঞˆ;=ou-mm†-Ѵr;ubo7v0;]bmmbm]
omou-[;uƐ-m†-u‹ƑƏƐѵĺ

 " !" ƐƔ !;ˆ;m†; =uol om|u-1|v ‰b|_

Customers

 " !"ƐƔ;v|-0Ѵbv_;v-1olru;_;mvbˆ;=u-l;‰ouh
=ou 7;|;ulbmbm] ‰_;|_;uķ _o‰ l†1_ -m7 ‰_;m
u;ˆ;m†; bv u;1o]mbŒ;7ĺ | u;rѴ-1;v ;Šbvঞm]
u;ˆ;m†;u;1o]mbঞom]†b7-m1;ķbm1Ѵ†7bm]"ƐѶ
!;ˆ;m†;ķ " ƐƐ omv|u†1ঞom om|u-1|v -m7
 !Ɛƒ†v|ol;uo‹-Ѵ|‹uo]u-ll;vĺ

 " !"ƐƔbv;@;1ঞˆ;=ou-mm†-Ѵu;rouঞm]r;ubo7v
0;]bmmbm]omou-[;uƐ-m†-u‹ƑƏƐѶķ‰b|_;-uѴ‹
-7orঞomr;ulb‚;7ĺ

 -m-];l;m| 0;Ѵb;ˆ;v |_-| |_; " !" ƐƓ‰o†Ѵ7

not be applicable for the Company, as it is an
;Šbvঞm]" !"ru;r-u;uņ7o;vmo|bmˆoѴˆ;bmu-|;
u;]†Ѵ-|ou‹ -1ঞˆbঞ;vĺ ;m7bm] |_; 1olrѴ;ঞom
of the detailed impact analysis, possible Impact
from SLFRS 9 and SLFRS 15 is not reasonably
;vঞl-0Ѵ;-vo=|_;u;rouঞm]7-|;ĺ
 84
ƒĺ "$ !$
 $_;uo†r_-v|_u;;0†vbm;vvv;]l;m|vķuor;u|‹;-vbm]ķuor;u|‹";uˆb1;v-m7uor;u|‹$u-7bm]ĺuor;u|‹;-vbm]bv7;ubˆ;70‹ˆ;uv;-v!;-Ѵ|‹Ő;‹Ѵomő
Ő!őķuor;u|‹";uˆb1;vbv7;ubˆ;70‹!-m7!;-Ѵ|‹-m-];l;m|";uˆb1;vŐˆ|ő|7Ő!"ő-m7uor;u|‹$u-7bm]bv7;ubˆ;7|_uo†]_bu;h-
-rb|-Ѵ-m7Őˆ|ő|7Őő-m7bu;h-ol;vŐˆ|ő|7Őőĺ!;-umvu;m|-Ѵbm1ol;0‹‰-‹o=u;mঞm]o†||_;vr-1;-|ľ)ouѴ7$u-7;;m|;uĿ
INSPIRING

Ѵo1-|;7-|1_;Ѵom"t†-u;ķoѴol0oƐĺ‰_bѴ;!;-Ѵ|‹-m-];l;m|";uˆb1;vŐˆ|ő|7Ő!"őbv;m]-];7bm0uohbm]ķruoˆb7bm]-0v;m|;;Ѵ-m7Ѵou7l-m-];l;m|ķ
GENERATIONS

ruoˆb7bm]=-1bѴb|‹l-m-];l;m|-m7u;Ѵ-|;7v;uˆb1;v-m7|u-7bm]o=Ѵb]_ঞm]voѴ†ঞomvĺu;1o]mbv;vu;ˆ;m†;|_uo†]_|_;v-Ѵ;o=Ѵ-m7-m7bm=u-v|u†1|†u;-m7
u;1o]mbv;vu;ˆ;m†;|_uo†]_|_;v-Ѵ;o=1om7olbmb†l†mb|vo=ľ-ˆ;Ѵo1hb|‹Ŀĺ

 -m-];l;m| lomb|ouv |_; or;u-ঞm] u;v†Ѵ|v o= b|v 0†vbm;vv v;]l;m|v v;r-u-|;Ѵ‹ =ou |_; r†urov; o= l-hbm] 7;1bvbomv -0o†| u;vo†u1; -ѴѴo1-ঞom -m7
Year ended 31 December 2015

r;u=oul-m1;-vv;vvl;m|ĺ

ƒĺƐ ";]l;m|!;v†Ѵ|vĹ

2015 2014
m|;uņm|u- m|;uņm|u-
Notes to the Financial Statements

uor;u|‹ uor;u|‹ uor;u|‹ ";]l;m| omvoѴb7-|;7 uor;u|‹ uor;u|‹ uor;u|‹ ";]l;m| omvoѴb7-|;7
;-vbm] ";uˆb1;v $u-7bm] Ѵblbm-ঞomv 2015 ;-vbm] ";uˆb1;v $u-7bm] Ѵblbm-ঞomv 2014
Rs. Rs. Rs. Rs. Rs. !vĺ !vĺ !vĺ !vĺ !vĺ

Revenue ƐķƖѵƑķƓѶƐķƓƖƓ Ŋ ѶƔƖķƑѵƓķѶƓƑ ƐƐƓķƒƑƐķƏƖƕ ƑķƖƒѵķƏѵƕķƓƒƒ 1,764,445,362 - 4,329,204,511 - 6,093,649,872

Other Services ƓѵķƓѶѶķƖƖѶ ƐѵƕķƑƐƏķƐƖƕ Ŋ ŐƖķƐƏƏķƔƐƕő ƑƏƓķƔƖѶķѵƕѶ 54,040,648 73,767,341 - (23,742,835) 104,065,154
$o|-Ѵ!;ˆ;m†; ƑķƏƏѶķƖƕƏķƓƖƑ ƐѵƕķƑƐƏķƐƖƕ ѶƔƖķƑѵƓķѶƓƑ ƐƏƔķƑƑƏķƔѶƏ ƒķƐƓƏķѵѵѵķƐƐƐ 1,818,486,010 73,767,341 4,329,204,511 (23,742,835) 6,197,715,027
bu;1|r;u-ঞm]
Šr;mv;v ŐƓƑƐķƓƒƕķƓѵƕő ŐƐƑѵķƖƐƖķƓƐƓő Ŋ Ŋ ŐƔƓѶķƒƔѵķѶѶƐő (424,771,995) (56,750,105) - - (481,522,100)
Cost of Sales Ŋ Ŋ ŐѵƔƑķѵƑƒķƒѵƐő Ŋ ŐѵƔƑķѵƑƒķƒѵƐő - - (3,308,320,132) (1) (3,308,320,133)
uovvuoC|ņŐovvő ƐķƔѶƕķƔƒƒķƏƑƔ ƓƏķƑƖƏķƕѶƒ ƑƏѵķѵƓƐķƓѶƐ ƐƏƔķƑƑƏķƔѶƏ ƐķƖƒƖķѵѶƔķѶѵƖ 1,393,714,015 17,017,236 1,020,884,378 (23,742,836) 2,407,872,794

Fair Value Gain on

Investment Property ƐķƐƕƓķƔƒѶķƐƖƏ Ŋ Ŋ Ŋ ƐķƐƕƓķƔƒѶķƐƖƏ 1,015,557,962 - - - 1,015,557,962

7lbmbv|u-ঞomŠr;mv;v ŐƐѵƑķƏƔƓķƕƑƖő ŐƐƖķƖƑƐķѵƔƏő ŐѶƓķƐƖѶķƒƐѵő ƕƕƖķƕƖƖ ŐƑѵƔķƒƖƓķѶƖѵő (152,013,163) (7,504,832) (61,326,240) 2,727 (220,841,508)
-uh;ঞm]-m7
uoloঞom-ѴŠr;mv;v Ŋ Ŋ ŐƒƖķƐƏƔķƕƔƐő Ŋ ŐƒƖķƐƏƔķƕƔƐő - - (45,554,839) - (45,554,839)
Š1_-m];-bm ƔķѶѶƕķƓƖѶ Ŋ ƒķƕƕƕķƑƖƑ Ŋ ƖķѵѵƓķƕƖƏ 825,997 - 9,386,204 (1) 10,212,200
Finance Cost ŐƔķƐƓƏķƏƒƏő Ŋ ŐƕķƐƖƖķƑƓƐő Ŋ ŐƐƑķƒƒƖķƑƕƐő (29,874,649) - (2,696,365) - (32,571,014)
Finance Income ƐƕƒķƑƖѶķƏƕƕ ƔƓƖķѶƑѶ ƕķƕƑƔķƏƔƒ Ŋ ƐѶƐķƔƕƑķƖƔѶ 177,699,206 451,473 9,250,169 - 187,400,848
Other Income ƐƐƔķƖƔƖķƑƓƓ Ŋ ƑƓķѵѶƏķƐƒƕ ŐƔѵķƒƔƏķƑƏƏő ѶƓķƑѶƖķƐѶƐ 74,295,453 - 19,178,470 (29,127,000) 64,346,923
;|uoC|;=ou;$-Š ƑķѶƖƏķƏƑƐķƑƕƔ ƑƏķƖƐѶķƖѵƐ ƐƐƑķƒƑƏķѵƔƓ ƓƖķѵƔƏķƐƕƖ ƒķƏƕƑķƖƐƐķƏƕƏ 2,480,204,821 9,963,877 949,121,776 (52,867,109) 3,386,423,366
ƒĺƑ ";]l;m|vv;|v-m7b-0bѴbঞ;vĹ

m|;uņm|u- omvoѴb7-|;7
uor;u|‹ uor;u|‹ uor;u|‹ ";]l;m|
;-vbm] ";uˆb1;v $u-7bm] Ѵblbm-ঞomv
!vĺ !vĺ !vĺ !vĺ !vĺ

2015
Total Assets ƑѶķƕƖѶķƑƒѵķƏƏƕ ƔƕķƔѶƕķƏƏѶ ƓķƔƕƏķѶƖƐķƒƔƐ ŐƐķƐѵƔķƏѶѶķƐƒƑő ƒƑķƑƕƒķƖƕƐķƐƑƒ
$o|-Ѵb-0bѴbঞ;v ƐķƒƔѶķƖƏƑķƑƏƔ ƔƒķƖƏƏķƕƑƔ ƕƖƐķƐƖƖķƐƖƑ ŐƔƖķƑƐƔķƑƕƓő ƑķƐƔƕķƐƒƐķƕƒѶ

2014
Total Assets 26,231,404,796 31,993,639 5,249,134,292 (1,236,909,513) 30,275,623,214
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

$o|-Ѵb-0bѴbঞ;v 1,339,151,253 20,367,009 1,480,348,556 (243,221) 2,839,623,596

ƒĺƒ |_;u";]l;m|m=oul-ঞomĹ

2015 2014
uor;u|‹ uor;u|‹ uor;u|‹ uor;u|‹ uor;u|‹ uor;u|‹ omvoѴb7-|;7
;-vbm] ";uˆb1;v $u-7bm] omvoѴb7-|;7 ;-vbm] ";uˆb1;v $u-7bm] 2014
Rs. Rs. Rs. Rs. !vĺ !vĺ !vĺ !vĺ
$o|-Ѵov|m1†uu;77†ubm]|_;
Year to Acquire
- Property, Plant and
Equipment ƐѵķƔƔƕķƖƐƑ ƐķƐƏƔķƔѵƓ ƐѶķƑƕѵķƓƐƖ ƒƔķƖƒƖķѶƖƔ 9,688,212 439,900 116,211,303 126,339,415
 ;ru;1b-ঞom
Ŋ_-u];=ou|_;+;-u ƐƏķѵƒƕķƕƔƒ ƓѶƐķѵƐƔ ƐƖķƒƖƖķƐƐƑ ƒƏķƔƐѶķƓѶƏ 7,790,129 238,850 4,239,761 12,268,740
Ŋ-rb|-ѴbŒ;7‰b|_|_;
Inventories Ŋ Ŋ Ŋ Ŋ - - 866,333 866,333
louঞŒ-ঞom ƐķƓƕƏķƑƔƑ Ŋ Ŋ ƐķƓƕƏķƑƔƑ 5,268,799 - - 5,268,799
lrѴo‹;;;m;C|ov|v ƐƏƐķѶƒѶķƐƔƒ ƔƐķƓѶƑķѵƖƕ ƓƏķƐƐѶķƑѶƓ ƐƖƒķƓƒƖķƐƒƓ 97,259,006 35,959,867 28,721,093 161,939,966
85
86 INSPIRING
GENERATIONS

Notes to the Financial Statements

Year ended 31 December 2015

Ɠĺ $!"!("

Group Company
2015 2014 2015 2014
Rs. !vĺ Rs. !vĺ

Property Facility Fees ƔƐķƔƐƒķƕѶѵ 42,782,609 ƑƑķƓƓƏķƏƏƏ 22,440,000

;|m1ol;ņŐŠr;mv;ő=uol
Rented Car Park ŐƐķƐƑƑķѶƕƓő 3,041,370 ŐƐķƐƑƑķѶƕƓő 3,041,370
Default Interest Ŋ 15,145 Ŋ 15,145
-m-];l;m| ;;v ƔƒķƒƖѵķƏѵƕ 14,610,455 ƕķƓƑƏķƔƐƕ 22,782,835
;]-Ѵ ;;v ƑķƓƕƖķƑѶѶ 2,227,405 ƑķƓƕƖķƑѶѶ 2,227,405
];m1‹ ;;v ƐƕķѶƖƔķƐѶƒ 14,506,599 Ŋ -
Other Service Income ƐƔķƖѶƑķƖƐƏ 4,034,057 ƐƔķƑƕƑķƏѵƕ 3,533,894
"-Ѵ;o=b]_ঞm]"oѴ†ঞomv ѵƓķƓƔƓķƒƐѶ 22,847,514 Ŋ -
ƑƏƓķƔƖѶķѵƕѶ 104,065,154 ƓѵķƓѶѶķƖƖѶ 54,040,648

Ɣĺ ("$$!!$+

Group Company
2015 2014 2015 2014
Rs. !vĺ Rs. !vĺ

As at 1 January ƑƐķƓƏƓķѶƕƑķѶƏƕ 20,389,314,845 ƑƐķƓƏƓķѶƕƑķѶƏƕ 20,389,314,845

Net Gain from Fair Value Adjustment ƐķƐƕƓķƔƒѶķƐƖƏ 1,015,557,962 ƐķƐƕƓķƔƒѶķƐƖƏ 1,015,557,962
As at 31 December ƑƑķƔƕƖķƓƐƏķƖƖƕ 21,404,872,807 ƑƑķƔƕƖķƓƐƏķƖƖƕ 21,404,872,807

5.1 $_;olr-m‹CѴ;7- ;;7o= ;1Ѵ-u-ঞomoĺƑƒƕ7-|;7Ƒƕ†m;ƑƏƏƐ-‚;v|;70‹vĺĺ!ĺ7bubl-m;ķo|-u‹

†0Ѵb1ķv†07bˆb7bm]|_;olr-m‹Ľvruor;u|‹ķŐbĺ;ĺ)ouѴ7$u-7;;m|;u-|1_;Ѵom"t†-u;őbm|oƑƐƖ1om7olbmb†l
†mb|vbm-11ou7-m1;‰b|_|_;om7olbmb†lѴ-moĺƐѶƑƓ7-|;7ƑƔrubѴƑƏƏƐl-7;0‹uĺĺ$ĺ!-|_m-‹-h;ķ
b1;mv;7 "†uˆ;‹ou o= "†uˆ;‹ m]bm;;ubm] oĺ blb|;7ĺ$_; &u0-m ;ˆ;Ѵorl;m|†|_oub|‹ -rruoˆ;7 v†1_ rѴ-m
†m7;u";1ঞomƔƖƓŐ0ő-m7ƔŐƑőo=|_;r-u|l;m|‰m;uv_br-‰oĺƐƐo=ƐƖƕƒ-v-l;m7;70‹1|oĺƓƔo=
ƐƖѶƑķomƐƓ†m;ƑƏƏƐĺ

 $_;v-b7om7olbmb†lѴ-m-m7 ;;7o= ;1Ѵ-u-ঞom‰;u;u;]bv|;u;7‰b|_|_;-m7!;]bv|u‹omƏƓ†Ѵ‹ƑƏƏƐķ

|_†vu;v†Ѵঞm]bm|_;1u;-ঞomo=|_;ľ-m-];l;m|ourou-ঞomom7olbmb†lѴ-moĺƐѶƑƓĿ†m7;u|_;ruoˆbvbomv
o=|_;r-u|l;m|‰m;uv_br-‰ĺ

5.2 $_;olr-m‹o‰mvƐѶƔom7olbmb†l&mb|v|_-|-u;_;Ѵ7|o;-umu;m|-Ѵvĺ$_;v;†mb|v1omvঞ|†|;|_;mˆ;v|l;m|
uor;u|‹o=|_;uo†rĺ

 -buˆ-Ѵ†;o=|_;mˆ;v|l;m|uor;u|‹bv-v1;u|-bm;7-mm†-ѴѴ‹0‹bm7;r;m7;m|ˆ-Ѵ†-ঞomv1-uub;7o†|0‹uĺĺĺ
-Ѵ†]-Ѵ-];7;u-ķ_-u|;u;7(-Ѵ†-ঞom"†uˆ;‹ou|_-|_-vu;1;m|;Šr;ub;m1;bmˆ-Ѵ†bm]ruor;uঞ;vo=-hbmѴo1-ঞom-m7
1-|;]ou‹ĺmˆ;v|l;m|uor;u|‹‰-v-rru-bv;7bm-11ou7-m1;‰b|_"ub-mh-11o†mঞm]"|-m7-u7v-m7Ѷ|_;7bঞom
o=m|;um-ঞom-Ѵ(-Ѵ†-ঞom"|-m7-u7vr†0Ѵbv_;70‹|_;m|;um-ঞom-Ѵ(-Ѵ†-ঞom"|-m7-u7vollb‚;;Ő("őķ0‹|_;
bm7;r;m7;m|ˆ-Ѵ†;uĺm7;|;ulbmbm]|_;=-buˆ-Ѵ†;ķ|_;1-rb|-ѴbŒ-ঞomo=m;|bm1ol;l;|_o7-m7|_;7bv1o†mঞm]
o==†|†u;1-v_Yo‰v|o|_;buru;v;m|ˆ-Ѵ†;_-ˆ;0;;m†v;7‰_b1_-u;0-v;7†rom-vv†lrঞomvbm1Ѵ†7bm]=†|†u;
u;m|-Ѵbm1ol;ķ-mঞ1br-|;7l-bm|;m-m1;1ov|vķ-rruorub-|;7bv1o†m|u-|;-m7l-hbm]u;=;u;m1;|ol-uh;|;ˆb7;m1;
o=|u-mv-1ঞomrub1;v=ouvblbѴ-uruor;uঞ;vķ‰b|_-rruorub-|;-7f†v|l;m|v=ouvbŒ;-m7Ѵo1-ঞomĺ$_;-rru-bv;7=-bu
ˆ-Ѵ†;v-u;-rruoŠbl-|;7‰b|_bm-rruorub-|;u-m];o=ˆ-Ѵ†;vĺ
 87
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

 $_;vb]mbC1-m|-vv†lrঞomv†v;70‹|_;ˆ-Ѵ†;ubm|_;‹;-uvƑƏƐƓ-m7ƑƏƐƔ-u;-v=oѴѴo‰vĹ

"b]mbC1-m| (-Ѵ†-ঞom$;1_mbt†; 2015 2014

Unobservable Inputs
vঞl-|;7-uh;|!;m| Ĺ!vĺƑƓƏŊƑѶƔ Ĺ!vĺƑƑƔŊƑƕƔ
r;uvtĹ[
mˆ;v|l;m|;|_o7
!-|;o=uo‰|_bm ĹƐ|oƑ‹;-uvƏѷ ĹƐ|oƑ‹;-uvƏѷ
(Income Approach)
Future Rentals ƒŊƐƏ‹;-uvƔѷrĺ-ĺ ƒŊƐƏ‹;-uvƔѷrĺ-ĺ
†vbm]|_;7bv1o†m|;7
mঞ1br-|;7 ĹƓƔѷo=u;m|-Ѵv ĹƓƔѷo=u;m|-Ѵv
1-v_Yo‰v
-bm|;m-m1;ov|
-rb|-ѴbŒ-ঞom!-|; ĹƔĺƕƔѷrĺ-ĺ ĹƔĺƕƔѷrĺ-ĺ

Ɣĺƒ ";mvbঞˆb|‹m-Ѵ‹vbvo=vv†lrঞomvlrѴo‹;7bmmˆ;v|l;m|uor;u|‹(-Ѵ†-ঞom

Group/Company

 $_;|-0Ѵ;0;Ѵo‰ru;v;m|v|_;v;mvbঞˆb|‹o=|_;ˆ-Ѵ†-ঞom|o1_-m];vbm|_;lov|vb]mbC1-m|-vv†lrঞomv†m7;uѴ‹bm]
|_;ˆ-Ѵ†-ঞomo=mˆ;v|l;m|uor;u|‹ķbmu;vr;1|o=|_;‹;-uƑƏƐƔ

 $_;v;mvbঞˆb|‹o=|_;m1ol;"|-|;l;m|-m7"|-|;l;m|o= bm-m1b-Ѵovbঞombv|_;;@;1|o=|_;-vv†l;71_-m];v
bm 7bv1o†m| u-|;ķ ]uo‰|_ u-|; -m7 u-|; o= l-bm|;m-m1; 1ov| Ő|-h;m bm7bˆb7†-ѴѴ‹ķ ‰_bѴ; o|_;u ˆ-ub-0Ѵ;v -u; _;Ѵ7
1omv|-m|őom|_;ruoC|ouѴovv-m71-uu‹bm]ˆ-Ѵ†;o=mˆ;v|l;m|uor;u|‹=ou|_;‹;-uĺ

m1u;-v;ņŐ ;1u;-v;ő
-rb|-ѴbŒ-ঞom!-|; uo‰|_bm †|†u; mঞ1br-|;7-bm|;m-m1; u;=oul- @;1|om -bu
!;m|-Ѵv ov| mˆ;v|l;m| (-Ѵ†;-bmņŐovvő
ŐƒŊƐƏ+;-uvő uor;u|‹ ommˆ;v|l;m|
ˆ-Ѵ†-ঞom uor;u|‹
!vĺ !vĺ
1% 18,986,074,928 (2,418,797,880)
-1% 27,711,385,403 6,306,512,595
1% 23,983,104,375 2,578,231,567
-1% 21,260,076,625 (144,796,183)
5% 20,526,736,724 (878,136,084)
-5% 24,632,084,069 3,227,211,261

5.4 $_;uo†r-m7olr-m‹†v;†mo0v;uˆ-0Ѵ;l-uh;|bmr†|vbm7;|;ulbmbm]|_;=-buˆ-Ѵ†;o=|_;mˆ;v|l;m|uor;u|‹
Őbĺ;ĺ -ѴѴbm]†m7;u;ˆ;Ѵƒo=|_;=-buˆ-Ѵ†;_b;u-u1_‹ő

5.5 !;m|-Ѵm1ol;;-um;7=uolmˆ;v|l;m|uor;u|‹0‹|_;uo†r-m7olr-m‹-lo†m|;7|o!vĺƐķƖѵƑmĺŐƑƏƐƓŊ
!vĺƐķƕѵƓmĺőĺ bu;1|or;u-ঞm];Šr;mv;vbm1†uu;70‹|_;uo†r-m7olr-m‹-lo†m|;7|o!vĺƓƑƐmĺŐƑƏƐƓ
Ŋ!vĺƓƑƔmĺőĺ
 88
ѵĺ !!$+ķ$  &$
6.1 Group
ѵĺƐĺƐ uovv-uu‹bm]lo†m|v
INSPIRING

|ov| |(-Ѵ†-ঞom
GENERATIONS

olr†|;u
and $o|-Ѵ(-Ѵ†;o= m|_; $o|-Ѵuovv
Temporary Ѵ;1|uomb1 †umb|†u; o|ou ;ru;1b-0Ѵ; o†uv;o= -uu‹bm]
†bѴ7bm] t†brl;m| t†brl;m| -m7 bমm]v (;_b1Ѵ;v †bѴ7bm]v vv;|v omv|u†1ঞom lo†m|
!vĺ !vĺ !vĺ !vĺ !vĺ !vĺ !vĺ !vĺ !vĺ
Year ended 31 December 2015

|ov|ou(-Ѵ†-ঞom
-Ѵ-m1;-v-|
1 January 2015 6,488,324 14,407,213 33,491,771 32,887,800 33,202,834 1,046,185,334 1,166,663,276 480,272,199 1,646,935,475
77bঞomv7†ubm]|_;
Notes to the Financial Statements

Year - 4,849,381 3,539,823 388,655 13,700,000 3,613,737 26,091,596 9,848,299 35,939,895

bvrov-Ѵv7†ubm]|_;
Year - - (250,000) (664,762) (19,295,000) - (20,209,762) - (20,209,762)
Transfers* - - - - - (20,630,182) (20,630,182) - (20,630,182)
!;ˆ-Ѵ†-ঞomv - - - - - 33,572,583 33,572,583 - 33,572,583
-Ѵ-m1;-v-|
31 December 2015 6,488,324 19,256,594 36,781,594 32,611,693 27,607,834 1,062,741,472 1,185,487,511 490,120,498 1,675,608,009

ѵĺƐĺƑ ;ru;1b-ঞom

olr†|;u
and
Temporary Ѵ;1|uomb1 †umb|†u; o|ou $o|-Ѵ
†bѴ7bm] t†brl;m| t†brl;m| -m7 bমm]v (;_b1Ѵ;v †bѴ7bm]v ;ru;1b-ঞom
!vĺ !vĺ !vĺ !vĺ !vĺ !vĺ !vĺ
-Ѵ-m1;-v-|
1 January 2015 3,549,495 8,575,330 28,634,211 22,424,910 24,640,120 - 87,824,067
_-u];7=ou|_;+;-u 1,296,951 1,628,765 2,187,607 1,671,569 3,103,406 20,630,182 30,518,480
bvrov-Ѵv7†ubm]|_;
Year - - (250,000) (664,762) (19,295,000) - (20,209,762)

Transfers* - - - - - (20,630,182) (20,630,182)

-Ѵ-m1;-v-|
31 December 2015 4,846,446 10,204,095 30,571,818 23,431,717 8,448,526 - 77,502,603
ѵĺƐĺƒ ;|ooh(-Ѵ†;

2015 2014
Rs. !vĺ

|ov|
$;lrou-u‹†bѴ7bm] ƐķѵƓƐķѶƕѶ 2,938,829
Equipment ƖķƏƔƑķƓƖƖ 5,831,882
Computers and Electronic Equipment ѵķƑƏƖķƕƕѵ 4,857,561
†umb|†u;-m7 bমm]v ƖķƐƕƖķƖƕƔ 10,462,889
o|ou(;_b1Ѵ;v ƐƖķƐƔƖķƒƏѶ 8,562,714
ƓƔķƑƓƒķƓƒѵ 32,653,876
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

|(-Ѵ†-ঞom
†bѴ7bm]v ƐķƏѵƑķƕƓƐķƓƕƑ 1,046,185,334
ƐķƏѵƑķƕƓƐķƓƕƑ 1,046,185,334
m|_;o†uv;o=omv|u†1ঞom
-rb|-Ѵ)ouhmuo]u;vv ƓƖƏķƐƑƏķƓƖѶ 480,272,199
ƓƖƏķƐƑƏķƓƖѶ 480,272,199
ƐķƔƖѶķƐƏƔķƓƏƕ 1,559,111,409

Ŗ$_bv|u-mv=;uu;Ѵ-|;v|o|_;-11†l†Ѵ-|;77;ru;1b-ঞom-v-||_;u;ˆ-Ѵ†-ঞom7-|;|_-|‰-v;Ѵblbm-|;7-]-bmv||_;]uovv1-uu‹bm]-lo†m|o=|_;u;ˆ-Ѵ†;7-vv;|ĺ
89
 90
ѵĺ !!$+ķ$  &$Őom|7ĺő
ѵĺƑ olr-m‹
ѵĺƑĺƐ uovv-uu‹bm]lo†m|v
INSPIRING

|ov| |(-Ѵ†-ঞom
GENERATIONS

olr†|;u $o|-Ѵ(-Ѵ†;o= m|_; $o|-Ѵuovv

-m7Ѵ;1|uomb1 †umb|†u; o|ou ;ru;1b-0Ѵ; o†uv;o= -uu‹bm]
t†brl;m| t†brl;m| -m7 bমm]v (;_b1Ѵ;v †bѴ7bm]v vv;|v omv|u†1ঞom lo†m|
!vĺ !vĺ !vĺ !vĺ !vĺ !vĺ !vĺ !vĺ
Year ended 31 December 2015

-Ѵ-m1;-v-|
1 January 2015 5,178,694 24,420,343 20,496,355 32,960,834 323,127,192 406,183,418 1,962,104 408,145,522
77bঞomv7†ubm]|_;+;-u 785,139 1,650,521 79,435 13,700,000 - 16,215,095 342,817 16,557,912
bvrov-Ѵv7†ubm]|_;+;-u - - - (19,295,000) - (19,295,000) - (19,295,000)
 !;ˆ-Ѵ†-ঞom - - - - 19,558,556 19,558,556 - 19,558,556
Notes to the Financial Statements

Transfers* - - - - (6,096,744) (6,096,744) - (6,096,744)

-Ѵ-m1;-v-|
31 December 2015 5,963,833 26,070,864 20,575,790 27,365,834 336,589,004 416,565,325 2,304,921 418,870,246

ѵĺƑĺƑ ;ru;1b-ঞom

olr†|;u
-m7Ѵ;1|uomb1 †umb|†u; o|ou $o|-Ѵ
t†brl;m| t†brl;m| -m7 bমm]v (;_b1Ѵ;v †bѴ7bm]v ;ru;1b-ঞom
!vĺ !vĺ !vĺ !vĺ !vĺ !vĺ
-Ѵ-m1;-v-|
1 January 2015 4,475,348 22,402,139 18,413,765 24,398,120 - 69,689,372
_-u];7=ou|_;+;-u 130,964 787,289 519,350 3,103,406 6,096,744 10,637,753
bvrov-Ѵv7†ubm]|_;+;-u - - - (19,295,000) - (19,295,000)
Transfers* - - - - (6,096,744) (6,096,744)
-Ѵ-m1;-v-|
31 December 2015 4,606,312 23,189,428 18,933,115 8,206,526 - 54,935,381
ѵĺƑĺƒ ;|ooh(-Ѵ†;

2015 2014
Rs. !vĺ
|ov|
Equipment ƐķƒƔƕķƔƑƐ 703,346
Computers and Electronic Equipment ƑķѶѶƐķƓƒѵ 2,018,204
†umb|†u;-m7 bমm]v ƐķѵƓƑķѵƕƔ 2,082,590
o|ou(;_b1Ѵ;v ƐƖķƐƔƖķƒƏѶ 8,562,714
ƑƔķƏƓƏķƖƓƏ 13,366,854
|(-Ѵ†-ঞom
†bѴ7bm]v ƒƒѵķƔѶƖķƏƏƓ 323,127,192
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

ƒƒѵķƔѶƖķƏƏƓ 323,127,192
m|_;o†uv;o=omv|u†1ঞom
-rb|-Ѵ)ouhmuo]u;vv ƑķƒƏƓķƖƑƐ 1,962,104
ƑķƒƏƓķƖƑƐ 1,962,104
ƒѵƒķƖƒƓķѶѵƔ 338,456,150

Ŗ$_bv|u-mv=;uu;Ѵ-|;v|o|_;-11†l†Ѵ-|;77;ru;1b-ঞom-v-||_;u;ˆ-Ѵ†-ঞom7-|;|_-|‰-v;Ѵblbm-|;7-]-bmv||_;]uovv1-uu‹bm]-lo†m|o=|_;u;ˆ-Ѵ†;7-vv;|ĺ
91
92 INSPIRING
GENERATIONS

Notes to the Financial Statements

Year ended 31 December 2015

ѵĺ !!$+ķ$  &$Őom|7ĺő

6.3 $_;=-buˆ-Ѵ†;o=0†bѴ7bm]Ő;ˆ;ѴƐѶo=|_;)ouѴ7$u-7;;m|u;_;Ѵ7-vo‰m;uo11†rb;7ruor;u|‹ő‰-v7;|;ulbm;7
0‹l;-mvo=-u;ˆ-Ѵ†-ঞom7†ubm]|_;Cm-m1b-Ѵ‹;-uƑƏƐƔ0‹uĺĺĺ-Ѵ†]-Ѵ-];7;u-ķ-mbm7;r;m7;m|ˆ-Ѵ†;uĺ$_;
u;v†Ѵ|vo=v†1_u;ˆ-Ѵ†-ঞom‰;u;bm1ourou-|;7bm|_;v; bm-m1b-Ѵ"|-|;l;m|v=uolb|v;@;1ঞˆ;7-|;‰_b1_bvƒƐ
;1;l0;uƑƏƐƔĺ$_;v†urѴ†v-ubvbm]=uol|_;u;ˆ-Ѵ†-ঞom‰-v|u-mv=;uu;7|o-u;ˆ-Ѵ†-ঞomu;v;uˆ;ĺ$_;ˆ-Ѵ†-ঞom
|_-|‰-v†v;7|o-v1;u|-bm|_;ˆ-Ѵ†;o=bmˆ;v|l;m|ruor;u|‹‰-v†v;7=ou|_;7;|;ulbm-ঞomo=|_;=-buˆ-Ѵ†;o=
|_;†bѴ7bm]vŊ;ˆ;ѴƐѶ1-uub;7-|=-buˆ-Ѵ†;ĺ †u|_;uķvblbѴ-u-vv†lrঞomv_-ˆ;0;;m†v;7bm7;|;ulbmbm]|_;=-bu
ˆ-Ѵ†;o=|_;ruor;u|‹-v]bˆ;mbmo|;ƔĺƑĺ

6.4 $_;=-buˆ-Ѵ†;o=0†bѴ7bm]ŐѴ†0o†v;-|-ˆ;Ѵo1hb|‹ő‰-v7;|;ulbm;70‹l;-mvo=-u;ˆ-Ѵ†-ঞom†vbm]|_;
u;rѴ-1;l;m|1ov|-rruo-1_7†ubm]|_;Cm-m1b-Ѵ‹;-uƑƏƐƔ0‹uĺĺĺ-Ѵ†]-Ѵ-];7;u-ķ-mbm7;r;m7;m|ˆ-Ѵ†;uĺ
$_;u;v†Ѵ|vo=v†1_u;ˆ-Ѵ†-ঞom‰;u;bm1ourou-|;7bm|_;v; bm-m1b-Ѵ"|-|;l;m|v=uolb|v;@;1ঞˆ;7-|;‰_b1_bv
ƒƐ ;1;l0;uƑƏƐƔĺ

6.5 -v_r-‹l;m|v-lo†mঞm]|o!vĺƒƔķƖƒƖķѶƖƔņŊŐƑƏƐƓĹ!vĺƐƑѵķƒƒƖķƓƐƔņŊő‰;u;l-7;7†ubm]|_;‹;-u0‹|_;
uo†r-m7!vĺƐѵķƔƔƕķƖƐƑņŊŐƑƏƐƓĹ!vĺƖķѵѶѶķƑƐƑņŊő‰;u;l-7;0‹|_;olr-m‹=our†u1_-v;o=uor;u|‹ķѴ-m|
-m7t†brl;m|ĺ

6.6 ;ru;1b-ঞombv1-Ѵ1†Ѵ-|;7om-v|u-b]_|Ѵbm;0-vbvoˆ;u|_;†v;=†ѴѴb=;o=|_;-vv;|v-v=oѴѴo‰vĹ

†bѴ7bm]v Over 60 Years

$;lrou-u‹†bѴ7bm] Over 5 Years
Computer and Electronic Equipment Over 4 Years
Equipment Over 5 - 10 Years
†umb|†u;-m7 bমm]v Over 10 Years
o|ou(;_b1Ѵ;v Over 5 Years

6.7 †|o=|_;|o|-Ѵ7;ru;1b-ঞom=ou|_;‹;-uo=!vĺƒƏķƔƐѶķƓѶƏņŊŐƑƏƐƓŊ!vĺƐƑķƑѵѶķƕƒƖņŊő-m-lo†m|o=!vĺbѴņŊ
ŐƑƏƐƓŊ!vĺѶѵѵķƒƒƒņŊő_-v0;;m|u-mv=;uu;7|omˆ;m|ou‹ņuof;1|&m7;u ;ˆ;Ѵorl;m|7†ubm]|_;‹;-u0‹|_;
uo†rĺ$_ov;-vv;|v-u;vঞѴѴbm†v;=ouv†rrѴ‹o=v;uˆb1;v-m7-7lbmbv|u-ঞˆ;r†urov;ĺ

6.8 uor;u|‹ķѴ-m|-m7t†brl;m|o=|_;uo†r-m7|_;olr-m‹bm1Ѵ†7;v=†ѴѴ‹7;ru;1b-|;7-vv;|v_-ˆbm]-]uovv

1-uu‹bm] -lo†m| o= !vĺƔƔķƑƔƔķƓѵƒņŊ -m7 !vĺ ƓƕķƐƐƐķƖƔƑņŊ ŐƑƏƐƓ Ĺ !vĺ ƕƑķѵѶƔķƓƑƒ -m7 !vĺѵƓķƔƑƏķƔѵƏ  ņŊő
u;vr;1ঞˆ;Ѵ‹ĺ

6.9 $_;1-uu‹bm]-lo†m|o=u;ˆ-Ѵ†;7-vv;|v|_-|‰o†Ѵ7_-ˆ;0;;mbm1Ѵ†7;7bm|_; bm-m1b-Ѵ"|-|;l;m|v_-7|_;-vv;|v

0;;m1-uub;7-|1ov|Ѵ;vv7;ru;1b-ঞombv-v=oѴѴo‰vĹ

†l†Ѵ-ঞˆ;
;ru;1b-ঞom ;|-uu‹bm] ;|-uu‹bm]
=-vv;|v‰;u; lo†m| lo†m|
ov| -uub;7-|1ov| 2015 2014
Ѵ-vvo=vv;| !vĺ !vĺ Rs. !vĺ
Group
†bѴ7bm]Ŋ;ˆ;ѴƐѶ ѶƕķƓƒƐķƔѵѵ (13,114,736) ƕƓķƒƐѵķѶƒƏ 75,774,023
†bѴ7bm]ŊѴ†0o†v; ƕƑѵķѵƕƐķѶƕƖ (14,533,438) ƕƐƑķƐƒѶķƓƓƐ 723,058,142

6.10 $_;uo†r-m7olr-m‹†v;†mo0v;uˆ-0Ѵ;l-uh;|bmr†|vbm7;|;ulbmbm]|_;=-buˆ-Ѵ†;o=|_;†bѴ7bm]vu;Y;1|;7
-|b|v=-buˆ-Ѵ†;Őbĺ;ĺ -ѴѴbm]†m7;u;ˆ;Ѵƒo=|_;=-buˆ-Ѵ†;_b;u-u1_‹ő
 93
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

7. INTANGIBLE ASSETS
7.1 Group
)$ olr†|;u
Membership "o[‰-u; oo7‰bѴѴ $o|-Ѵ
!vĺ !vĺ !vĺ !vĺ

"†ll-u‹ Őo|;ƕĺƒő Őo|;ƕĺƓő Őo|;ƕĺƔő

ov|
As at 1 January 2015 7,297,734 28,919,768 8,794,864 45,012,366
1t†bu;7ņm1†uu;77†ubm]|_;+;-u - - - -
As at 31 December 2015 7,297,734 28,919,768 8,794,864 45,012,366

louঞŒ-ঞom
As at 1 January 2015 7,297,734 23,915,194 - 31,212,928
louঞŒ-ঞom7†ubm]|_;+;-u - 1,470,252 - 1,470,252
As at 31 December 2015 7,297,734 25,385,446 - 32,683,180

;|0oohˆ-Ѵ†;
As at 1 January 2015 - 5,004,574 8,794,864 13,799,438
As at 31 December 2015 - 3,534,322 8,794,864 12,329,186

ƕĺƑ olr-m‹
)$ olr†|;u
Membership "o[‰-u; $o|-Ѵ
!vĺ !vĺ !vĺ

"†ll-u‹ Őo|;ƕĺƒő Őo|;ƕĺƓő

ov|
As at 1 January 2015 7,297,734 28,919,768 36,217,502
1t†bu;7ņm1†uu;77†ubm]|_;+;-u - - -
As at 31 December 2015 7,297,734 28,919,768 36,217,502

louঞŒ-ঞom
As at 1 January 2015 7,297,734 23,915,194 31,212,928
louঞŒ-ঞom=ou|_;+;-u - 1,470,252 1,470,252
As at 31 December 2015 7,297,734 25,385,446 32,683,180

;|0oohˆ-Ѵ†;
As at 1 January 2015 - 5,004,574 5,004,574
As at 31 December 2015 - 3,534,322 3,534,322
94 INSPIRING
GENERATIONS

Notes to the Financial Statements

Year ended 31 December 2015

7. INTANGIBLE ASSETS (Contd.)

7.3 )$ l;l0;uv_br =;; u;ru;v;m| |_; oub]bm-Ѵ -lo†m| r-b7 |o 0; ;Ѵb]b0Ѵ; |o †v; |_; |u-7; m-l; ľ)ouѴ7$u-7;
;m|u;Ŀĺ

7.4 olr†|;uvo[‰-u;u;ru;v;m||_;m|;urubv;!;vo†u1;Ѵ-mmbm]"‹v|;lŐ!ő1omvbvঞm]o=-rrѴb1-ঞomvo[‰-u;ķ

†v;uѴb1;mv;-m7blrѴ;l;m|-ঞomv;uˆb1;vo=‰_b1_|_;l-m-];l;m|o=|_;olr-m‹_-v7;|;ulbm;7|_;†v;=†Ѵ
Ѵb=;-vCˆ;ŐƔő‹;-uvĺlouঞŒ-ঞom_-v0;;ml-7;om-v|u-b]_|Ѵbm;0-vbvbm|_;m1ol;"|-|;l;m|ĺ †ubm]|_;‹;-u
†m7;uu;ˆb;‰ķ-=†u|_;u-lo†m|o=!vĺbѴŐƑƏƐƓ!vĺƐķƒƒƓķƒѶѶņŊő‰-vbmˆ;v|;7bm|_;!v‹v|;lĺ

7.5 oo7‰bѴѴbvu;Ѵ-|;7|o|_;-1t†bvbঞomo=bu;h--rb|-Ѵ-m7Őˆ|ő|7ĺ

Ѷĺ ("$$""&" !"

Group Company
% 2015 2014 2015 2014
oѴ7bm] Rs. !vĺ Rs. !vĺ

omŊ †o|;7mˆ;v|l;m|-|
1ov|

bu;h--rb|-Ѵ-m7Őˆ|ő|7ĺ 60% Ŋ - ƐķƐƑƔķƏƏƏķƏƏƏ 1,125,000,000

ovrb|-Ѵb|‹m|;um-ঞom-ѴŐˆ|ő
|7ĺ 100% Ŋ - ƐƐƑķƐƔƖķƐƏƕ 112,159,107
!;-Ѵ|‹-m-];l;m|";uˆb1;v
Őˆ|ő|7ĺ 100% Ŋ - ƐƏķƏƑƏ 10,020
uor;u|‹-u|Őˆ|ő|7ĺ 100% Ŋ - 20 20
Ŋ - ƐķƑƒƕķƐѵƖķƐƓƕ 1,237,169,147
uoˆbvbom=oulr-bul;m|Ĺ
ovrb|-Ѵb|‹m|;um-ঞom-ѴŐˆ|ő
|7ĺ Ŋ - ŐƐƐƑķƐƔƖķƐƏƕő (112,159,107)
Ŋ - ƐķƐƑƔķƏƐƏķƏƓƏ 1,125,010,040
 95
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

8.1 ѴѴv†0vb7b-ub;v-u;bm1ourou-|;7bm"ub-mh-ĺ

ѶĺƑ ubm1br-Ѵ"†0vb7b-ub;v‰b|_l-|;ub-ѴomŊ1om|uoѴѴbm]m|;u;v|v
 "†ll-ubv;7Cm-m1b-Ѵbm=oul-ঞombmu;vr;1|o=ˆ;uv;-v!;-Ѵ|‹Ő;‹ѴomőĽvv†0vb7b-u‹|_-|_-vl-|;ub-ѴmomŊ
1om|uoѴѴbm]bm|;u;v|ķu;Y;1ঞm]-lo†m|v0;=ou;bm|;uŊ1olr-m‹;Ѵblbm-ঞomvķbvv;|o†|0;Ѵo‰ĺ

bu;h--rb|-Ѵ-m7Őˆ|ő|7ĺ
Group Group
2015 2014
Rs. !vĺ

"|-|;l;m|o= bm-m1b-Ѵovbঞom
Current Assets ƖƔѵķѶѶƔķƓѶѵ 1,903,590,460
Non Current Assets ƒķѵƐƓķƏƏƔķѶѵƔ 3,345,543,832
Total Assets ƓķƔƕƏķѶƖƐķƒƔƐ 5,249,134,292
†uu;m|b-0bѴbঞ;v ƓƒѵķѵƔƕķƐƔƕ 1,476,013,741
om†uu;m|b-0bѴbঞ;v ƒƔƓķƔƓƑķƏƒƔ 4,334,815
$o|-Ѵb-0bѴbঞ;v ƕƖƐķƐƖƖķƐƖƑ 1,480,348,556
Net Assets ƒķƕƕƖķѵƖƑķƐƔƖ 3,768,785,736
;|vv;|v‚ub0†|-0Ѵ;|o ƐķƔƐƐķѶƓƓķѵѶƕ 1,507,482,118

"|-|;l;m|o=uoC|ouovv-m7|_;uolru;_;mvbˆ;m1ol;
Revenue ѶƔƖķƑѵƓķѶƓƑ 4,329,204,511
uoC|ņŐovvő-[;u$-Š ƐƏƏķƒѶƕķƐƔѶ 947,226,424
uoC|ņŐovvő‚ub0†|-0Ѵ;|o ƓƏķƐƔƓķѶѵƒ 378,890,570
Other Comprehensive Income ƖķƐƏƑķѵƖƔ 80,799
Total Comprehensive Income ƐƏƖķƓѶƖķѶƔƒ 947,307,223
$o|-Ѵolru;_;mvbˆ;m1ol;‚ub0†|-0Ѵ;|o ƒķѵƓƐķƏƕѶ 378,890,570

bˆb7;m7-b7|o7†ubm]|_;+;-u ŐƒƕķƔƏƏķƏƏƏő (18,750,000)

"|-|;l;m|o=-v_ Ѵo‰v
;|-v_mYo‰=uolr;u-ঞm]1ঞˆbঞ;v ƖƐѶķƒƓƑķƖƐƒ 1626221361
;|-v_Ő†Ѵo‰ő=uolmˆ;vঞm]1ঞˆbঞ;v ŐƐƏķƔƔƐķƒѵѵő (478,848,576)
;|-v_Ő†Ѵo‰őņmYo‰=uol bm-m1bm]1ঞˆbঞ;v ŐƐķƏƐƓķƑƔƏķƏƏƏő (958,975,000)
;|m1u;-v;ņŐ ;1u;-v;őbm-v_-m7-v_t†bˆ-Ѵ;m|v ŐƐƏѵķƓƔѶķƓƔƒő 188,397,785
96 INSPIRING
GENERATIONS

Notes to the Financial Statements

Year ended 31 December 2015

Ɩĺ  !! $*
9.1 Group

"|-|;l;m|o= bm-m1b-Ѵovbঞom "|-|;l;m|o=uoC|ouovv

2015 2014 2015 2014
Rs. !vĺ Rs. !vĺ

;=;uu;7$-Švv;|vubvbm]omĹ
&m†v;7-uub;7 ou‰-u7$-Šovv;v ƑѵķƐƕƖķƓƐƑ 23,650,233 ƑķƔƑƖķƐƕƖ 12,155,863
ov|lrѴo‹l;m|;m;C|b-0bѴb|‹ ƑķƖƔƐķƐѵƑ 3,054,766 ŐƐƏƒķѵƏƓő 1,754,322
Property Plant and Equipment ƑƒƒķƔѶƏ 465,394 ŐƑƒƐķѶƐƓő 81,648
ƑƖķƒѵƓķƐƔƓ 27,170,393 ƑķƐƖƒķƕѵƐ 13,991,833
;=;uu;7$-Šb-0bѴb|‹ubvbm]omĹ
Property Plant and Equipment ŐƑƑķƕƏѶķƏƒƓő - ŐƑƑķƕƏѶķƏƒƓő -
ŐƑƑķƕƏѶķƏƒƓő - ŐƑƑķƕƏѶķƏƒƓő -
;=;uu;7$-ŠŠr;mv;ņŐm1ol;ő ŐƑƏķƔƐƓķƑƕƒő 13,991,833
;| ;=;uu;7$-Švv;|ņŐb-0bѴb|‹ő ѵķѵƔѵķƐƑƏ 27,170,393

2015 2014
Rs. !vĺ

-Ѵ-m1;0uo†]_|=ou‰-u7 ŐƑƕķƐƕƏķƒƖƒő (41,162,226)

;=;uu;7m1ol;$-ŠŐu;7b|őņ_-u];Ŋ
"|-|;l;m|o=uoC|ouovvŐo|;ƑƓĺƐő ƐƕķƓѵƕķƒƔƓ 16,097,788
;=;uu;7m1ol;$-ŠŐu;7b|őņ_-u];Ŋ
Statement of Comprehensive Income ƒķƏƓѵķƖƐƖ (2,105,955)
;| ;=;uu;7$-ŠŐvv;|őņb-0bѴb|‹ ŐѵķѵƔѵķƐƑƏő (27,170,393)

ƖĺƑ olr-m‹
"|-|;l;m|o= bm-m1b-Ѵovbঞom "|-|;l;m|o=uo[ouovv
2015 2014 2015 2014
Rs. !vĺ Rs. !vĺ

;=;uu;7$-Švv;|vubvbm]omĹ
$-Šovv-uub;7 ou‰-u7 ƐƔķƓƖƏķƑƏƑ 23,613,326 ѶķƐƑƒķƐƑƓ 15,860,854

;=;uu;7$-ŠŠr;mv;ņŐm1ol;ő ѶķƐƑƒķƐƑƓ 15,860,854

;| ;=;uu;7$-Švv;|ņŐb-0bѴb|‹ő ƐƔķƓƖƏķƑƏƑ ƑƒķѵƐƒķƒƑѵ
 97
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

ƐƏĺ ($!"

ƐƏĺƐ om†uu;m|mˆ;m|oub;v

Group Company
2015 2014 2015 2014
Rs. !vĺ Rs. !vĺ

)ouhbmuo]u;vv ƑķƒѵƑķƐƕƓķƏƕƑ 2,124,582,326 Ŋ -

ƑķƒѵƑķƐƕƓķƏƕƑ 2,124,582,326 Ŋ -

ƐƏĺƑ †uu;m|mˆ;m|oub;v

)ouhbmuo]u;vv Ŋ 17,348,555 Ŋ -

Completed Apartments for Sale ƑƔƓķѶƒƔķѶƔƒ 387,439,012 Ŋ -
Consumables and Spares ƐѵķƕѵƒķѵƐƔ 19,230,387 ƐƔķѵƐƔķѶƏƓ 19,230,387
ƑƕƐķƔƖƖķƓѵѶ 424,017,954 ƐƔķѵƐƔķѶƏƓ 19,230,387

10.3 $o|-Ѵmˆ;m|oub;v ƑķѵƒƒķƕƕƒķƔƓƏ 2,548,600,280 ƐƔķѵƐƔķѶƏƓ 19,230,387

10.4 $_;-lo†m|o=0ouuo‰bm]1ov|v1-rb|-Ѵbv;7‰b|_bmˆ;m|ou‹7†ubm]|_;‹;-u;m7;7ƒƐ ;1;l0;uƑƏƐƔ‰-v!vbѴ

ŐƑƏƐƓĹ!vƐƏƑķƓѶƑķƏƑƕņŊőĺ$_;u-|;†v;7=ou1-rb|-Ѵbvbm]|_;0ouuo‰bm]1ov|‰-vƔѷĺ

ƐƐĺ $!  $!!("

Group Company
2015 2014 2015 2014
Rs. !vĺ Rs. !vĺ

!;m|-m7";uˆb1;_-u];!;1;bˆ-0Ѵ;v ƖѶķƐƑƑķƖƏѶ 50,956,095 ƖѶķƐƑƑķƖƏѶ 50,956,095

Trade Receivables - Apartment Sales ƖƖķƒѵƓķƏƖѵ 628,144,202 Ŋ -
ƐƖƕķƓѶƕķƏƏƓ 679,100,297 ƖѶķƐƑƑķƖƏѶ 50,956,095
Other Receivables ƐƐѶķƐƒѵķѵƔƐ 116,464,793 ƒƏķƒƑƖķѵƐƕ 17,821,776
Accrued Rental Income ƑƕƔķƑƑƐķѵƖƏ 273,246,108 ƑƕƔķƑƑƐķѵƖƏ 273,246,108
ƔƖƏķѶƓƔķƒƓƔ 1,068,811,198 ƓƏƒķѵƕƓķƑƐƔ 342,023,979
VAT Receivables ƑƒƕķƒѵƕķƖƑƓ 254,454,178 Ŋ -
Advances and Prepayments ѵƒķƖѵƕķƕƑƑ 55,455,043 ƐƖķƕƑƔķѶƔƕ 13,433,106
ѶƖƑķƐѶƏķƖƖƐ 1,378,720,419 ƓƑƒķƓƏƏķƏƕƑ 355,457,085
98 INSPIRING
GENERATIONS

Notes to the Financial Statements

Year ended 31 December 2015

ƐƐĺ $!  $!!("Őom|7ĺő

ƐƐĺƐ v-|ƒƐ ;1;l0;uķ|_;-];-m-Ѵ‹vbvo=|u-7;u;1;bˆ-0Ѵ;vķbv-v=oѴѴo‰vĹ
Group -v| †;0†|mo|lr-bu;7
$o|-Ѵ ;=ou;ƒƏ7-‹v ƒƐŊѵƏ7-‹v ѵƐŊƖƏ7-‹v ƖƐŊƐƑƏ7-‹v ƐƑƐŊƐƔƏ7-‹v > 150 days
2015 ƐƖƕķƓѶƕķƏƏƓ ƕƒķƕƑƕķƏѵƔ ƐƐķƏѵƖķƑƔƔ ƐѶķƑѶƕķƔƖѵ ƐƒķѵƏƑķƒƐƒ ƐƔѶķƕƑѵ ѶƏķѵƓƑķƏƓƖ
2014 679,100,297 247,801,501 39,414,324 109,292,745 198,182,415 56,980,232 27,429,080

Company -v| †;0†|mo|lr-bu;7

$o|-Ѵ ;=ou;ƒƏ7-‹v ƒƐŊѵƏ7-‹v ѵƐŊƖƏ7-‹v ƖƐŊƐƑƏ7-‹v ƐƑƐŊƐƔƏ7-‹v > 150 days
2015 ƖѶķƐƑƑķƖƏѶ ƔƔķƔѵƑķƒƑƒ ѶķƖƕѵķƔƐƒ ƐѶķƑѶƕķƔƖѵ ƐƒķѵƏƑķƒƐƒ ƐƔѶķƕƑѵ ƐķƔƒƔķƓƒƕ
2014 50,956,095 20,505,145 15,443,265 5,036,319 4,233,743 39,874 5,697,749

11.2 !;m|-m7";uˆb1;_-u];!;1;bˆ-0Ѵ;-u;mo|bm|;u;v|0;-ubm]-m7†v†-ѴѴ‹7†;‰b|_bmƒƏ7-‹vĺ$_;uo†r_oѴ7vmo
1oѴѴ-|;u-Ѵbmu;vr;1|o=|_;v;u;1;bˆ-0Ѵ;vĺo‰;ˆ;u|_;uo†rbvbm-rovbঞom|ou;1oˆ;uѴom]o†|v|-m7bm]7†;v
=uolu;m|-Ѵ7;rovb|v-m71†v|ol;u7;rovb|vo0|-bm;7=uol1†v|ol;uv-m7|;m-m|vĺ

11.3 oˆ;l;m|bm|_;-ѴѴo‰-m1;=oublr-bul;m|bv-v=oѴѴo‰vĺ

Group v-| _-u];=ou|_; !;ˆ;uv-Ѵ v-|

1 January Year 31 December
!vĺ !vĺ !vĺ !vĺ

2015 - - - -
2014 15,564,685 - (15,564,685) -

ƐƑĺ &$" & !!$ !$"

Group Company
2015 2014 2015 2014
!;Ѵ-ঞomv_br Rs. !vĺ Rs. !vĺ
!;-Ѵ|‹-m-];l;m|";uˆb1;vŐˆ|ő|7ĺ Subsidiary Ŋ - ƒķƖƐƓķƔƖƑ 3,233,524
bu;h-ol;vŐˆ|ő|7ĺ Sub-Subsidiary Ŋ - ƓķƕƕƓķƓƒѵ -
-ˆ;Ѵo1hb|‹Őˆ|ő|7ĺ Sub-Subsidiary Ŋ - ƐƔѶķƑƑƓ 158,224
"_bm]‰-mmˆ;v|l;m|-mh-
Őˆ|ő|7ĺ ;ѴѴo‰"†0vb7b-u‹ ƖƖѵķƓѶѶ 82,372 ƖƖѵķƓѶѶ 82,372
-m-];l;m|ourou-ঞom
Condominium Plan 1824 Other Related Party Ŋ 8,583,920 Ŋ 8,583,920
ƖƖѵķƓѶѶ 8,666,291 ƖķѶƓƒķƕƓƏ 12,058,039
 99
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

Ɛƒĺ "$$ $

ƐƒĺƐ "|-|;7-rb|-Ѵ
2015 2014
Rs. !vĺ

-Ѵ-m1;-v-|Ɛ-m†-u‹ ƐƏķƐѶѵķƏѶƔķƓƏƔ 10,186,085,405

vv†;o=v_-u;v7†ubm]|_;+;-u ƖƕѵķѵѵѵķƐƏѶ -
-Ѵ-m1;-v-|ƒƐ ;1;l0;u ƐƐķƐѵƑķƕƔƐķƔƐƒ 10,186,085,405

ƐƒĺƑ †l0;uo=u7bm-u‹"_-u;v
2015 2014
Number Number

-Ѵ-m1;-v-|Ɛ-m†-u‹ ѶƓƒķƓѶƓķƒƔƖ 843,484,359

vv†;o=v_-u;v7†ubm]|_;+;-u ƓƓķƒƖƒķƖƐƓ -
-Ѵ-m1;-v-|ƒƐ ;1;l0;u ѶѶƕķѶƕѶķƑƕƒ 843,484,359

ƐƓĺ !"!("

ƐƓĺƐ !;ˆ-Ѵ†-ঞom!;v;uˆ;

Group Company
2015 2014 2015 2014
Rs. !vĺ Rs. !vĺ
-Ѵ-m1;-v-|Ɛ-m†-u‹ ƑѵƓķƔƑƒķƒƖƐ 238,875,211 ƑѵƓķƔƑƒķƒƖƐ 238,875,211
"†urѴ†v7†ubm]|_;+;-u ƒƒķƔƕƑķƔѶƒ 25,648,180 ƐƖķƔƔѶķƔƔѵ 25,648,180
;=;uu;7$-Š@;1| ŐƑķƐѶƏķƏƐѵő - Ŋ -
ƑƖƔķƖƐƔķƖƔѶ 264,523,391 ƑѶƓķƏѶƐķƖƓƕ 264,523,391
!;ˆ-Ѵ†-ঞom"†urѴ†v‚ub0†|-0Ѵ;|o
omom|uoѴѴbm]m|;u;v| ŐƓķƕƒƒķѵƏƓő - Ŋ Ŋ
-Ѵ-m1;-v-|ƒƐ ;1;l0;u ƑƖƐķƐѶƑķƒƔƓ 264,523,391 ƑѶƓķƏѶƐķƖƓƕ 264,523,391

14.2 !;ˆ-Ѵ†-ঞom!;v;uˆ;u;ru;v;m|v|_;v†urѴ†vu;Ѵ-|;7|o|_;u;]†Ѵ-uu;ˆ-Ѵ†-ঞom-v;ŠrѴ-bm;7bmo|;ѵĺƒĺ
100 INSPIRING
GENERATIONS

Notes to the Financial Statements

Year ended 31 December 2015

ƐƔĺ $! ""$" $"

ƐƔĺƐ "_ou|$;ulmˆ;v|l;m|
ƐƔĺƐĺƐ mˆ;v|l;m|vbmom;‹-uh;| †m7v

As At Fair Value v|

ƏƐĺƏƐĺƑƏƐƔ 77bঞomv -bmőņovv 31.12.2015
uo†rņolr-m‹ !vĺ !vĺ !vĺ Rs.
-l-Ѵb]_+b;Ѵ7 †m7 646,741,724 - 43,200,715 ѵѶƖķƖƓƑķƓƒƖ
;‹0-mh"-ˆbm]Ѵ†v 763,134,653 59,609,045 (7,620,545) ѶƐƔķƐƑƒķƐƔƒ
-]Ѵ;om;‹Ѵ†v †m7 744,858,681 - 50,841,042 ƕƖƔķѵƖƖķƕƑƒ
†-u7b-m1†b|‹om;‹-uh;| †m7 - 550,000,000 10,945,928 ƔѵƏķƖƓƔķƖƑѶ
2,154,735,058 609,609,045 97,367,140 ƑķѶѵƐķƕƐƐķƑƓƒ

15.1.2 -buˆ-Ѵ†;vo=|_;mˆ;v|l;m|vbmom;‹-uh;| †m7v-u;-v1;u|-bm;7-mm†-ѴѴ‹†vbm]|_;†mb|rub1;vo=;-1_$u†v|

†m7vĺ$_;v;bmˆ;v|l;m|v-u;1-uub;7bm|_;"|-|;l;m|o= bm-m1b-Ѵovbঞom-|=-buˆ-Ѵ†;‰b|_1_-m];vbm=-buˆ-Ѵ†;
u;1o]mbv;7bmCm-m1;bm1ol;ouCm-m1;1ov|vbm|_;bm1ol;v|-|;l;m|-v7bv1Ѵov;7bmmo|;ƑƑĺ

ƐƔĺƑ m|;u;v|;-ubm]o-mv-m7ouuo‰bm]v
15.2.1 Group

2015 2015 2014 2014

lo†m|v lo†m|v Amounts Amounts
!;r-‹-0Ѵ; !;r-‹-0Ѵ; 2015 Repayable Repayable 2014
‰b|_bmƐ+;-u -[;uƐ+;-u $o|-Ѵ ‰b|_bmƐ+;-u -[;uƐ+;-u Total
Rs. Rs. Rs. !vĺ !vĺ !vĺ
o-m=uol-mho=;‹Ѵom
ŐőŐƐƔĺƑĺƒő Ŋ Ŋ Ŋ 920,500,000 - 920,500,000
"!şş$ †m7o-mŊ
ŐƐƔĺƑĺƓő ƔƏķƏƏƓķƏƏƏ ƓƔķƕƖƕķƏƏƏ ƖƔķѶƏƐķƏƏƏ 50,004,000 95,801,000 145,805,000
-mhˆ;u7u-[vŐƑƐő Ŋ Ŋ Ŋ 15,292,951 - 15,292,951
ƔƏķƏƏƓķƏƏƏ ƓƔķƕƖƕķƏƏƏ ƖƔķѶƏƐķƏƏƏ 985,796,951 95,801,000 1,081,597,951

ƐƔĺƑĺƑ olr-m‹
2015 2015 2014 2014
lo†m|v lo†m|v Amounts Amounts
!;r-‹-0Ѵ; !;r-‹-0Ѵ; 2015 Repayable Repayable 2014
‰b|_bmƐ+;-u -[;uƐ+;-u $o|-Ѵ ‰b|_bmƐ+;-u -[;uƐ+;-u Total
Rs. Rs. Rs. !vĺ !vĺ !vĺ
"!şş$ †m7o-mŐƐƔĺƑĺƓő ƔƏķƏƏƓķƏƏƏ ƓƔķƕƖƕķƏƏƏ ƖƔķѶƏƐķƏƏƏ 50,004,000 95,801,000 145,805,000
ƔƏķƏƏƓķƏƏƏ ƓƔķƕƖƕķƏƏƏ ƖƔķѶƏƐķƏƏƏ 50,004,000 95,801,000 145,805,000
 101
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

ƐƔĺƑĺƒ o-mŊ-mho=;‹Ѵom

Loans
As At Obtained Š1_-m]; v|
ƏƐĺƏƐĺƑƏƐƔ 7†ubm]|_;+;-u Repayments b@;u;m1; 31.12.2015
!vĺ !vĺ !vĺ !vĺ Rs.
"_-u;_oѴ7;uo-mŊ 920,500,000 - (929,115,898) 8,615,898 Ŋ
920,500,000 - (929,115,898) 8,615,898 Ŋ

ƐƔĺƑĺƓ &mv;1†u;7-mho-mv
Loans
As at Obtained v|
ƏƐĺƏƐĺƑƏƐƔ 7†ubm]|_;+;-u Repayments 31.12.2015
!vĺ !vĺ !vĺ Rs.
"!şş$ †m7o-mŊŐƐƔĺƑĺƔő 145,805,000 - (50,004,000) ƖƔķѶƏƐķƏƏƏ
145,805,000 Ŋ (50,004,000) ƖƔķѶƏƐķƏƏƏ

15.2.5 $_; olr-m‹ vb]m;7 -m †mv;1†u;7$;ul o-m]u;;l;m| om ƒƏ -u1_ ƐƖƖѶ‰b|_ -mh o= ;‹Ѵom Őő |o
0ouuo‰!vĺƔƏƏlbѴѴbom-|-u-|;o=bm|;u;v|o=Ƒѷrĺ-ĺu;r-‹-0Ѵ;oˆ;u-r;ubo7o=|;m‹;-uv=oѴѴo‰bm]-]u-1;r;ubo7
o=Cˆ;‹;-uvĺ11ou7bm]Ѵ‹ķ|_;u;r-‹l;m|‰-v|o0;]bmbmrubѴƑƏƏƒĺ oѴѴo‰bm]m;]oঞ-ঞomvķ|_;u;r-‹l;m|o=
1-rb|-Ѵ‰-v;Š|;m7;70‹-=†u|_;uƔ‹;-uvĺ$_;Cuv|1-rb|-Ѵu;r-‹l;m||_;u;=ou;1oll;m1;7bm ;1;l0;uƑƏƏƕĺ
102 INSPIRING
GENERATIONS

Notes to the Financial Statements

Year ended 31 December 2015

Ɛѵĺ "$+$ $$+

Group Company
2015 2014 2015 2014
Rs. !vĺ Rs. !vĺ
-Ѵ-m1;-v-|Ɛ-m†-u‹ ƑƐķƑƕƓķƕƓƑ 17,666,428 ѶķƒƔƑķƑƕƏ 17,666,428
Transferred to related companies Ŋ (7,525,810) Ŋ (10,960,983)
ƑƐķƑƕƓķƕƓƑ 10,140,618 ѶķƒƔƑķƑƕƏ 6,705,445
_-u];=ou|_;+;-uŐƐѵĺƐő ѵķƓƕƕķѵƔƔ 4,421,922 ƑķƕѶƓķѵƑƐ 1,959,666
1|†-ub-ѴŐ-bmőņovv ŐƐķƏƖƏķƖѵƔő 8,112,102 ƔƐƒķƑƑƓ 634,969
-‹l;m|v-7;7†ubm]|_;+;-u ŐƐƔƏķƑƔƔő (1,399,900) Ŋ (947,810)
-Ѵ-m1;-v-|ƒƐ ;1;l0;u ƑѵķƔƐƐķƐƕƕ 21,274,742 ƐƐķѵƔƏķƐƐƔ 8,352,270

ƐѵĺƐ ov|lrѴo‹;;;m;C|Šr;mv;=ou+;-um7;ƒƐ ;1;l0;u

Group Company
2015 2014 2015 2014
Rs. !vĺ Rs. !vĺ
Current Service Cost ƓķƕƕƔķѵƕƔ 3,205,048 ƑķƐƐѵķƓƒƖ 1,155,013
Interest Cost ƐķƕƏƐķƖѶƏ 1,216,874 ѵѵѶķƐѶƑ 804,653
ov|lrѴo‹l;m|;m;C|Šr;mv; ѵķƓƕƕķѵƔƔ 4,421,922 ƑķƕѶƓķѵƑƐ 1,959,666

16.2 ;vvuvĺb‹-Ѵ"oom;ঞѴѴ;h;-m7vvo1b-|;vĹ1|†-ub;vķ1-uub;7o†|-m-1|†-ub-Ѵˆ-Ѵ†-ঞomo=|_;uo†r-v-|ƒƐ
;1;l0;uƑƏƐƔĺrruorub-|;-m71olr-ঞ0Ѵ;-vv†lrঞomv‰;u;†v;7bm7;|;ulbmbm]|_;1ov|o=rov|;lrѴo‹l;m|
0;m;C|vĺ$_;rubm1br-Ѵ-vv†lrঞomv†v;7-u;-v=oѴѴo‰vĹ

-ő ;lo]u-r_b1vv†lrঞomv

2015 2014
!;ঞu;l;m|];Ĺ 55 Years 55 Years

0ő vv†l;7u-|;o=;lrѴo‹;;|†umoˆ;ubvƐƏѷ=uol-];ƑƏ|o-];ƒƏĺ"†1_bv;vঞl-|;7|o7;1u;-v;0;|‰;;mƔѷ|o
ƒѷbmu;vr;1|o=-];vƒƔ|oƓƏķ=uol‰_b1_robm|om‰-u7v†r|ou;ঞu;l;m|b|bv;vঞl-|;7-|Ɛѷrĺ-ĺ

1ő bm-m1b-Ѵvv†lrঞomv

2015 2014
Discount Rate ƖĺѵƐѷ 8%
Salary Increment Rate Ѷѷ 10%
Šr;1|;7ˆ;u-]; †|†u;)ouhbm]b=;o=lrѴo‹;; 5.7 years ѶĺƑ‹;-uv

Ɛѵĺƒ ";mvbঞˆb|‹o=vv†lrঞomvlrѴo‹;7bm1|†-ub-Ѵ(-Ѵ†-ঞom

 $_;=oѴѴo‰bm]|-0Ѵ;7;lomv|u-|;v|_;v;mvbঞˆb|‹|o-u;-vom-0Ѵ;rovvb0Ѵ;1_-m];bm|_;h;‹-vv†lrঞomv†v;7ķ
‰b|_-ѴѴo|_;uˆ-ub-0Ѵ;v_;Ѵ71omv|-m|bm|_;rov|;lrѴo‹l;m|0;m;C|Ѵb-0bѴb|‹l;-v†u;l;m|ķbmu;vr;1|o=|_;‹;-u
ƑƏƐƔĺ

 $_;v;mvbঞˆb|‹o=|_;m1ol;"|-|;l;m|-m7"|-|;l;m|o= bm-m1b-Ѵovbঞombv|_;;@;1|o=|_;-vv†l;71_-m];v
bm7bv1o†m|u-|;-m7v-Ѵ-u‹bm1u;l;m|u-|;om|_;ruoC|ouѴovv-m7rov|;lrѴo‹l;m|0;m;C|o0Ѵb]-ঞom=ou|_;
‹;-uĺ
 103
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

Group Company
m1u;-v;ņŐ ;1u;-v;ő 2015 2015
@;1|omm1ol; @;1|omm1ol;
"|-|;l;m|Őu;7†1ঞomőņ Performa Post "|-|;l;m|Őu;7†1ঞomőņ Performa Post
In Salary Increment increase in results for lrѴo‹l;m|;m;C| increase in results for lrѴo‹l;m|;m;C|
In Discount Rate Rate the Year 2015 Liability 2015 the Year 2015 Liability 2015
!vĺ !vĺ !vĺ !vĺ
-1% - ŐƐķƑѶƑķƐѵѶő ƑƕķƕƖƒķƒƓƔ ŐƔѵƒķƓƒѶő ƐƑķƑƐƒķƔƔƒ
1% - ƐķƐѵƐķƔƑƖ ƑƔķƒƓƖķѵƓƖ ƔƐƏķƓƑƓ ƐƐķƐƒƖķѵƖƐ
- -1% ƐķƐƒƏķƏƔѵ ƑƔķƒѶƐķƐƑƐ ƓƖѵķƔƖƓ ƐƐķƐƔƒķƔƑƐ
- 1% ŐƐķƑƑƓķѶƐƑő ƑƕķƕƒƔķƖƖƏ ŐƔƒѶķƑƒƒő ƐƑķƐѶѶķƒƓѶ

Ɛƕĺ $!  $!+"

Group Company
2015 2014 2015 2014
Rs. !vĺ Rs. !vĺ
Trade Paybles - Related
-uঞ;vŐƐƕĺƐő Ŋ 1,902,101 Ŋ -
- Payable to Contractor ƐƔƒķƒƔƒķѶѶƓ 2,000,000 Ŋ -
- Other ƐƓƒķѶѶƔķƕƐѵ 395,817,235 Ŋ -
ƑƖƕķƑƒƖķѵƏƏ 399,719,336 Ŋ -
Other Payables ƐƐķƒƐƑķƓƏƑ 1,427,508 Ŋ -
Rental Income Received in Advance ƐƒƔķѶƓƒķѵƏƓ 148,171,719 ƐƒƔķѶƓƒķѵƏƓ 148,171,718
"†m7u‹u;7b|ouvbm1Ѵ†7bm]11u†;7Šr;mv;v ƒƒƕķƕƕƏķƔѵƓ 275,905,512 ƐƖƒķƓѶƕķѵѶѶ 186,150,956
ƕѶƑķƐѵѵķƐƕƏ 825,224,075 ƒƑƖķƒƒƐķƑƖƑ 334,322,674

ƐƕĺƐ $u-7;-‹-0Ѵ;vŊ!;Ѵ-|;7-uঞ;v

!;Ѵ-ঞomv_br
"_bm]‰-m-m-];l;m| ;ѴѴo‰
|7ĺ Subsidiary Ŋ 712,305 Ŋ -
"_bm]‰-mmˆ;v|l;m| &Ѵঞl-|;
Ő"bm]-rou;ő|;|7ĺ Parent Ŋ 1,189,796 Ŋ -
Ŋ 1,902,101 Ŋ Ŋ

ƐѶĺ !$ &"$! "$"

Group Company
2015 2014 2015 2014
Rs. !vĺ Rs. !vĺ
Rental Deposits ѶƕƔķƓѵƖķƒƑѶ 840,698,153 ѶƕƔķƓѵƖķƒƑѶ 840,698,153
Customer Deposits ƒƑƑķƕѶѵķƓƐƑ 63,538,117 Ŋ -
ƐķƐƖѶķƑƔƔķƕƓƏ 904,236,270 ѶƕƔķƓѵƖķƒƑѶ 840,698,153

Ѵ-vvbC;7&m7;uĹ
†uu;m|b-0bѴbঞ;v ѶƕƔķƓѵƖķƒƑѶ 904,236,270 ѶƕƔķƓѵƖķƒƑѶ 840,698,153
om†uu;m|b-0bѴbঞ;v ƒƑƑķƕѶѵķƓƐƑ - Ŋ -
104 INSPIRING
GENERATIONS

Notes to the Financial Statements

Year ended 31 December 2015

ƐƖĺ &$" &$!$ !$"

Group Company
2015 2014 2015 2014
!;Ѵ-ঞomv_br Rs. !vĺ Rs. !vĺ
bu;h--rb|-Ѵ-m7Őˆ|ő
|7ĺ Subsidiary Ŋ - ƒķƑѵƔķƓѶƏ 4,566,519
-m-];l;m|ourou-ঞom Other Related
Condominium Plan 1824 Party ƑƐķƐƕƐķƏƓƐ - ƑƐķƐƕƐķƏƓƐ -
bu;h-ol;vŐˆ|ő|7ĺ Sub-Subsidiary Ŋ - Ŋ 91,112
ƑƐķƐƕƐķƏƓƐ - ƑƓķƓƒѵķƔƑƐ 4,657,631

ƑƏĺ (  "  +

2015 2014
uo†rņolr-m‹ Rs. !vĺ
ƑƏĺƐ ;1Ѵ-u;7-m7-b77†ubm]|_;+;-u
Equity Dividends on Ordinary Shares
Ŋ bm-Ѵ7bˆb7;m7=ouƑƏƐƓ!vĺƐĺƔƏĹŐƑƏƐƒŊ!vĺ!vĺƐĺƓƔő ƐķƑѵƔķƑƑѵķƔƒƖ 1,223,052,321
ƐķƑѵƔķƑƑѵķƔƒƖ 1,223,052,321

ƑƏĺƑ bˆb7;m7v-‹-0Ѵ;-v-||_;;m7o=|_;+;-u

Dividends on Ordinary Shares Unclaimed ѵķƕƐƒķƐƕƓ 5,315,525

ѵķƕƐƒķƐƕƓ 5,315,525

ƑƐĺ " "!$$! "$"

Group Company
2015 2014 2015 2014
Rs. !vĺ Rs. !vĺ
-v_-m7-mh-Ѵ-m1;v ƐѵƒķƑƓѵķƒƔƖ 397,503,577 ƐƒƑķƏƏƕķѵѶƐ 208,589,637
-ѴѴ ;rovb|v-m7 bŠ;7 ;rovb|v ƐķƔƏƑķѶƔƑķƕƔѶ 772,502,999 ƐķƑѵѶķƑƕƕķƏƓƐ 584,246,530
ƐķѵѵѵķƏƖƖķƐƐƕ 1,170,006,576 ƐķƓƏƏķƑѶƓķƕƑƑ 792,836,167
-mhˆ;u7u-[ŐƐƔő Ŋ (15,292,951) Ŋ -
$o|-Ѵ-v_-m7-v_t†bˆ-Ѵ;m|v=ou|_;
†urov;o=-v_ Ѵo‰"|-|;l;m| ƐķѵѵѵķƏƖƖķƐƐƕ 1,154,713,625 ƐķƓƏƏķƑѶƓķƕƑƑ 792,836,167
 105
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

ƑƑĺ "$ 

ƑƑĺƐ bm-m1;ov|

Group Company
2015 2014 2015 2014
Rs. !vĺ Rs. !vĺ
 m|;u;v|Šr;mv;omm|;u;v|;-ubm]o-mv
 -m7ouuo‰bm]v ƖķƔƕƖķƐƕƏ 5,997,750 ƑķƒƕƖķƖƑƖ 3,301,385
Fair Value Adjustment on Rental Deposits ƑķƕѵƏķƐƏƐ 26,573,264 ƑķƕѵƏķƐƏƐ 26,573,264
ƐƑķƒƒƖķƑƕƐ 32,571,014 ƔķƐƓƏķƏƒƏ 29,874,649

ƑƑĺƑ bm-m1;m1ol;

Income from Investments

 Ŋm|;u;v|om bŠ;7 ;rovb|v ƕѵķƕƕƓķƖѵƕ 79,070,040 ƕƓķƐƕѵķƏƓƏ 70,851,236
 Ŋm|;u;v|omoˆ;uml;m|";1†ubঞ;vŐ!ő ƔķѵƕƔķƖƔƓ 1,482,838 Ŋ -
- Income from Investment in Fair Value
 |_uo†]_uoC|şovv ƖƕķƒѵƕķƐƓƏ 78,821,858 ƖƕķƒѵƕķƐƓƏ 78,821,858
louঞŒ-ঞomo= ;=;uu;7;-v;m|;u;v|
Income on Rental Deposits ƐķƕƔƓķѶƖƕ 28,026,112 ƐķƕƔƓķѶƖƕ 28,026,112
ƐѶƐķƔƕƑķƖƔѶ 187,400,848 ƐƕƒķƑƖѶķƏƕƕ 177,699,206

ƑƑĺƒ |_;um1ol;

Dividend Income ƔƖķѵƏƖķƏƓƓ 45,170,452 ƐƐƔķƖƔƖķƑƓƓ 74,295,453

Club House Income ƑƓķѵѶƏķƐƒƕ 19,176,471 Ŋ -
ѶƓķƑѶƖķƐѶƐ 64,346,923 ƐƐƔķƖƔƖķƑƓƓ 74,295,453

Ƒƒĺ ! $ !$*

"|-|;7-[;u_-u]bm]ņŐu;7bঞm]ő

Group Company
2015 2014 2015 2014
Rs. !vĺ Rs. !vĺ
Directors Fee ѵķƏƔƏķƏƏƏ 6,275,000 ƔķƐƑƔķƏƏƏ 6,275,000
†7b|ouv!;l†m;u-ঞom ƒķƓƔƏķƔƓѵ 3,394,173 ƐķѵƒƐķƕƔƏ 1,525,000
;ru;1b-ঞom_-u];=ou|_;+;-u ƒƏķƔƐѶķƓѶƏ 12,268,739 ƐƏķѵƒƕķƕƔƒ 7,790,129
Š1_-m];Ő-bmőņovv ƖķѵѵƓķƕƖƏ 10,212,200 ƔķѶѶƕķƓƖѶ 825,997
ŐuoC|őņovvom bvrov-Ѵņ bv1omঞm†-ঞomo=
Property, Plant and Equipment ŐƔķƖƔƑķƕƑƐő - ŐƔķƖƔƑķƕƑƐő -
lrѴo‹;;;m;C|Šr;mv;vm1Ѵ†7bm]|_;
=oѴѴo‰bm]ĸ
Ŋ ;Cm;7;m;C|Ѵ-mov|Ŋu-|†b|‹ ѵķƓƕƕķѵƔƔ 4,421,922 ƑķƕѶƓķѵƑƐ 1,959,666
Ŋ ;Cm;7om|ub0†ঞomѴ-mov|Ŋ ş$ ƐƐķƔƓƔķƒѶƔ 9,740,434 ѶķƖƑƑķƓѵƐ 7,698,124
louঞŒ-ঞomo=m|-m]b0Ѵ;vv;|v ƐķƓƕƏķƑƔƑ 5,268,799 ƐķƓƕƏķƑƔƑ 1,470,252
106 INSPIRING
GENERATIONS

Notes to the Financial Statements

Year ended 31 December 2015

ƑƓĺ $**""

 $_;l-fou1olrom;m|vo=bm1ol;|-Š;Šr;mv;=ou|_;‹;-uv;m7;7ƒƐ ;1;l0;uƑƏƐƔ-m7ƒƐ ;1;l0;uƑƏƐƓ
-u;-v=oѴѴo‰vĹ

ƑƓĺƐ "|-|;l;m|o=uoC|ouovv

Group Company
2015 2014 2015 2014
Rs. !vĺ Rs. !vĺ
†uu;m|m1ol;$-ŠĹ
†uu;m|$-ŠŠr;mv;om|_;um1ol; ƑƓķƏƒƑķƔƔѶ 21,431,395 ƐƓķѵƓƓķƕƒƓ 16,635,009
&m7;uņŐˆ;uőuoˆbvbomo=†uu;m|$-Š;vbm
respect of Prior Year ƔƔƕķƕƒƐ 12,958,107 ƓƓƐķƐѵѶ 12,820,864
;=;uu;7$-ŠĹ
;=;uu;7$-Š-ঞom_-u];ņŐu;7b|őŐo|;Ɩő ƐƕķƓѵƕķƒƔƓ 16,097,788 ѶķƐƑƒķƐƑƓ 15,860,854
m1ol;$-ŠŠr;mv;ņŐu;7b|ő!;rou|;7bm|_;
"|-|;l;m|o=uoC|ouovv ƓƑķƏƔƕķѵƓƒ 50,487,289 ƑƒķƑƏƖķƏƑѵ 45,316,727

24.2 !;1om1bѴb-ঞom0;|‰;;m|-Š;Šr;mv;-m7|_;ruo7†1|o=-11o†mঞm]ruoC|l†ѴঞrѴb;70‹|_;v|-|†|ou‹|-Šu-|;
bv-v=oѴѴo‰vĹ
Group Company
2015 2014 2015 2014
Rs. !vĺ Rs. !vĺ

11o†mঞm]uoC|;=ou;$-Š ƒķƏƕƑķƖƐƐķƏƕƏ 3,386,423,366 ƑķѶƖƏķƏƑƐķƑƕƔ 2,480,204,821

m1ol;Š;lr|;7=uol$-Š ŐƑķƖƕƕķѵƔƑķƑƕƐő (3,276,470,455) ŐƑķѶƏƖķƔƔƔķѶƖƓő (2,388,803,674)
;vvĹ|_;um1ol; ŐƕѵķƕƖƖķƒƔƕő - ŐѵƖķƓƏƐķѶѶƖő -
]]u;]-|; bv-ѴѴo‰;7|;lv ƑѵķѶƏƓķƕƏѵ 2,992,401 Ŋ -
]]u;]-|;ѴѴo‰-0-Ѵ|;lv ŐƕѶķƖƔƑķѶƕƕő (36,404,617) Ŋ (31,990,401)
;|uo[ņŐovvő=uol$u-7; ŐƒƒķѵѶѶķƕƑѶő 76,540,695 ƐƐķƏѵƒķƓƖƑ 59,410,746
Other Income ƕѵķƕƖƖķƒƔƕ - ѵƖķƓƏƐķѶѶƖ -
Total Statutory Income ƐƐƓķƐѵѵķѵƕƐ 76,540,695 ƔƑķƒƏƑķѵƑƑ 59,410,746
;vv$-Šovv;vѴ-bl;7 ŐƑѶķƒƒѵķƐƏѵő - ŐƑѶķƐѵƑķƕƔƖő -
vv;vv-0Ѵ;b-0Ѵ;m1ol;ņ$-Š-0Ѵ;m1ol; ѶƔķѶƒƏķƔѵƔ 76,540,695 ƔƑķƒƏƑķѵƑƑ 59,410,746
m1ol;$-Š-||_;"|-|†|ou‹!-|;ƐƔѷŊƑѶѷ ƑƓķƏƒƑķƔƔѶ 21,431,395 ƐƓķѵƓƓķƕƒƓ 16,635,009
†uu;m|$-ŠŠr;mv;om|_;um1ol; ƑƓķƏƒƑķƔƔѶ 21,431,395 ƐƓķѵƓƓķƕƒƓ 16,635,009
 107
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

24.3 The aboˆ; 1†uu;m| |-Š ;Šr;mv; u;Ѵ-|;v |o |_; bm|;u;v| bm1ol; -m7 o|_;u lbv1;ѴѴ-m;o†v bm1ol; |_-| -u; mo|
1oˆ;u;70‹|_;|-Š;Š;lrঞom;mfo‹;70‹ˆ;uv;-v!;-Ѵ|‹Ő;‹Ѵomő-m7b|vv†0vb7b-ub;v-v7;|-bѴ;7bmmo|;
Ƒĺƒĺƒĺ

24.4 $_; 1-uub;7 =ou‰-u7 †mbঞŒ;7 |-Š Ѵovv;v o= |_; olr-m‹ -m7 uo†r u;vr;1ঞˆ;Ѵ‹ -v -| ƒƐ ;1;l0;u ƑƏƐƔ
-lo†m|;7|o!vĺƔƔķƒƑƑķƐƓƖņŊ-m7ƐƑѵķƔѶƒķƔƓƕņŊŐƑƏƐƓŊ!vĺѶƓķƒƒƒķƒƏѶņŊ-m7ѶƓķƓѵƔķƐƐƕņŊőu;vr;1ঞˆ;Ѵ‹

25. EARNINGS PER SHARE

25.1 -umbm]v;u"_-u;bv1-Ѵ1†Ѵ-|;70‹7bˆb7bm]|_;m;|ruoC|=ou|_;‹;-u-‚ub0†|-0Ѵ;|oou7bm-u‹v_-u;_oѴ7;uv0‹
|_; m†l0;u o= ou7bm-u‹ v_-u;v o†|v|-m7bm] 7†ubm] |_;‹;-uĺ$_;‰;b]_|;7 -ˆ;u-]; m†l0;u o= ou7bm-u‹ v_-u;v
o†|v|-m7bm] 7†ubm] |_;‹;-u -m7 |_; ru;ˆbo†v‹;-u -u; -7f†v|;7 =ou ;ˆ;m|v |_-| _-ˆ; 1_-m];7 |_; m†l0;u o=
ordinary s_-u;vo†|v|-m7bm]ķ‰b|_o†|-1ouu;vrom7bm]1_-m];bm|_;u;vo†u1;vv†1_-v-0om†vbvv†;ĺ

25.2 $_;=oѴѴo‰bm]u;Y;1|v|_;bm1ol;-m7v_-u;7-|-†v;7bm|_;;-umbm]vr;uv_-u;1olr†|-ঞomĺ

Group
2015 2014
Rs. !vĺ

lo†m|v&v;7-v|_;†l;u-|ou
;|uoC|‚ub0†|-0Ѵ;|o"_-u;_oѴ7;uv=ou-umbm]v;u"_-u; ƑķƖƖƏķѵƖѶķƔѵƓ 2,957,045,507

†l0;uo=u7bm-u‹"_-u;v&v;7-v|_; ;molbm-|ou
);b]_|;7ˆ;u-];†l0;uo=u7bm-u‹"_-u;vbmvv†;rrѴb1-0Ѵ;|o
-umbm]v;u"_-u;ŐƑƔĺƒő ѶѵƖķѶѶƕķƏƒƓ 849,021,455

25.3 );b]_|;7ˆ;u-];†l0;uo=u7bm-u‹"_-u;vbmvv†;rrѴb1-0Ѵ;|o-umbm]v;u"_-u;

Group
2015 2014
Rs. !vĺ

u7bm-u‹"_-u;v-||_;0;]bmmbm]o=|_;‹;-u ѶƓƒķƓѶƓķƒƔƖ 843,484,359

om†vѴ;l;m|om!b]_|vv†; ƔķƔƒƕķƏƖѵ 5,537,096
@;1|o=!b]_|vv†; ƑƏķѶѵƔķƔƕƖ Ŋ
);b]_|;7ˆ;u-];†l0;uo=u7bm-u‹"_-u;vbmvv†; ѶѵƖķѶѶƕķƏƒƓ 849,021,455
108 INSPIRING
GENERATIONS

Notes to the Financial Statements

Year ended 31 December 2015

Ƒѵĺ !$ !$+ ""&!"

ƑѵĺƐ $u-mv-1ঞomv‰b|_!;Ѵ-|;7mঞঞ;v
ƑѵĺƐĺƐ &Ѵঞl-|;-u;m|mঞ|‹

Group Company
2015 2014 2015 2014
Rs. !vĺ Rs. !vĺ

Amounts Receivable as at 1 January Ŋ - Ŋ -

Amounts Payable as at 1 January Ŋ (1,189,802) Ŋ -
Ő!;bl0†uv;l;m|vőņ";‚Ѵ;l;m|v Ŋ 1,189,802 Ŋ -
Amounts Receivable as at 31 December Ŋ - Ŋ -
Amounts Payable as at 31 December Ŋ - Ŋ -

ƑѵĺƐĺƑ "†0vb7b-ub;v

Amounts Receivable as at 1 January Ŋ - ƒķƑƒƒķƔƑƒ 27,550,222

Amounts Payable as at 1 January Ŋ - ŐƓķѵƔƕķѵƒƑő (962,945)
!;m7;ubm]o=";uˆb1;v Ŋ - ƕķƓƑƏķƔƐƕ 22,782,835
!;bl0†uv;l;m|vņŐ";‚Ѵ;l;m|vő Ŋ - ŐƓƐƓķѵƒѵő (50,635,996)
Amounts Receivable as at 31 December Ŋ - ƔķƔѶƐķƕƕƑ 3,233,523
Amounts Payable as at 31 December Ŋ - Ŋ (4,657,632)

ƑѵĺƐĺƒ ;ѴѴo‰"†0vb7b-ub;v

Group Company
2015 2014 2015 2014
Rs. !vĺ Rs. !vĺ

Amounts Receivable as at 1 January ѶƑķƒƕƑ - ѶƑķƒƕƑ -

Amounts Payable as at 1 January Ŋ (11,205,265) Ŋ (11,150,306)
-m-];l;m| ;; Ŋ - Ŋ -
Receipt of Services ƐķƑƏƏķƏƏƏ 1,200,000 ƐķƑƏƏķƏƏƏ 1,200,000
Ő!;bl0†uv;l;m|vőņ";‚Ѵ;l;m|v ŐƑѶƔķѶѶƓő 10,087,637 ŐƑѶƔķѶѶƓő 10,032,678
Amounts Receivable as at 31 December ƖƖѵķƓѶѶ 82,372 ƖƖѵķƓѶѶ 82,372
Amounts Payable as at 31 December Ŋ - Ŋ -

$_; -0oˆ; |u-mv-1ঞomv -u; bm1Ѵ†7;7 bm †uu;m| b-0bѴbঞ;v -vlo†m|v †; |o !;Ѵ-|;7 -uঞ;v -m7 bm †uu;m|
vv;|v-vlo†m|v7†;=uol!;Ѵ-|;7-uঞ;vĺ

 $;ulv-m7om7bঞomv
 $u-mv-1ঞomv ‰b|_ u;Ѵ-|;7 r-uঞ;v -u; 1-uub;7 o†| bm |_; ou7bm-u‹ 1o†uv; o= |_; 0†vbm;vvĺ †|v|-m7bm] 1†uu;m|
-11o†m|0-Ѵ-m1;v-|‹;-u;m7-u;†mv;1†u;7ķbm|;u;v|=u;;-m7v;‚Ѵ;l;m|o11†uvbm1-v_ĺ$_;bm|;mঞomo=|_;
uo†rbv|ov;‚Ѵ;v†1_u;Ѵ-|;7r-u|‹7†;v‰b|_bm-v_ou||;ulŐѴ;vv|_-mom;‹;-uőĺ
 109
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

ƑѵĺƐĺƓ |_;u!;Ѵ-|;7-uঞ;v
-ő -mho=;‹ѴomŐőŊ"b]mbC1-m|mˆ;v|ouo=-"†0vb7b-u‹

Group Company
2015 2014 2015 2014
Rs. !vĺ Rs. !vĺ

bm-m1b-Ѵ11ollo7-ঞomĹ
As at 1 January ƐķƏѶƐķƔƖƕķƖƔƐ 2,034,288,145 ƐƓƔķѶƏƔķƏƏƏ 195,809,000
Loans Granted Ŋ 532,913,806 Ŋ -
Loan Repayments ŐƖѶƔķƕƖѵķƖƔƐő (1,485,604,000) ŐƔƏķƏƏƓķƏƏƏő (50,004,000)
As at 31 December ƖƔķѶƏƐķƏƏƏ 1,081,597,951 ƖƔķѶƏƐķƏƏƏ 145,805,000

 $_; -0oˆ; |u-mv-1ঞomv -u; bm1Ѵ†7;7 bm bm|;u;v| 0;-ubm] Ѵo-mvĺ †u|_;uķ |_; uo†r -m7 olr-m‹ _-v 1†uu;m|
-11o†m|v‰b|_u;vr;1ঞˆ;Ѵ‹-lo†m|;7|o!vĺƖƒķƏƑƑķƕƐƒņŊ-m7!vĺƔƒķƐƑƐķƑƓƕņŊŐƑƏƐƓŊ!vĺƑƖѶķƔѵƔķƒƔƏņŊ
-m7!vĺƐƐƓķƖƏƒķƔѵƓņŊőķ‰_bѴ;bmˆ;v|l;m|bm!ņ-ѴѴş bŠ;77;rovb|v-lo†mঞm]|o!vĺƑѶѶķƓѶƏķѶѶƖņŊ-m7
!vĺ ƐƏѶķƓѶƏķѶѶƖņŊ ŐƑƏƐƓŊ !vĺ ƔƏƒķѶƒƒķƓƐƏņŊ -m7 !vĺ ƒƒƏķƖƑƔķƓƓƐņŊő ĺ †ubm] |_; ‹;-u bm|;u;v| ;Šr;mv; om
-11o†m|o=Cm-m1b-Ѵ-11ollo7-ঞomo0|-bm;7=uol-lo†m|;7|o!vĺƖķƑƓƐķƖƒƓ-m7!vĺƑķƒƕƖķƖƑƖņŊŐƑƏƐƓŊ
!vĺ ƒķƒƏƐķƒѶƔņŊ -m7 ƒķƒƏƐķƒѶƔņŊőķ‰_bѴ; bm|;u;v| ;-um;7 -lo†m|;7 |o  !vĺƐƏķƕƐƔķƐƒƏņŊ -m7 !vĺ ƑķƖƖƏķƏƕƕņŊ
ŐƑƏƐƓŊ!vĺƐƑķƔƔƐķƔƔƓņŊ-m7!vĺƒķƒƏƐķƒѶƔņŊőĺ

 |_;ul-‚;uvu;Ѵ-|;7|o|_bvCm-m1b-Ѵ-11ollo7-ঞom-u;]bˆ;mbmo|;ƐƔĺƑĺ

0ő -m-];l;m|ourou-ঞomom7olbmb†lѴ-mƐѶƑƓ

Group Company
2015 2014 2015 2014
Rs. !vĺ Rs. !vĺ

Amounts Receivable as at 1 January ѶķƔѶƒķƖƑƏ 24,286,667 ѶķƔѶƒķƖƑƏ 24,286,667

Amounts Payable as at 1 January Ŋ (891,190) Ŋ -
Property Facility Fee ƑƑķƓƓƏķƏƏƏ 22,440,000 ƑƑķƓƓƏķƏƏƏ 22,440,000
;l0;uv_br ;;oѴѴ;1|;7om0;_-Ѵ= ŐƒѶƓķƓƔƒķѵƏƏő (430,588,032) ŐƒѶƓķƓƔƒķѵƏƏő (430,588,032)
Due on account of Supply of Electricity ƑƓѵķƓƕƓķƕƑѵ 326,828,569 ƑƓѵķƓƕƓķƕƑѵ 326,828,569
|_;uŠr;mv;oum;om0;_-Ѵ= ѶƔķƕѶƒķƖƐƒ 66,507,906 ѶƔķƕѶƒķƖƐƒ 65,616,716
Amounts Receivable as at 31 December Ŋ 8,583,920 Ŋ 8,583,920
Amounts Payable as at 31 December ŐƑƐķƐƕƐķƏƓƐő - ŐƑƐķƐƕƐķƏƓƐő -

-m-];l;m|ourou-ঞomom7olbmb†lѴ-moĺƐѶƑƓŐľourou-ঞomĿőbv-0o7‹1ourou-|;1omvঞ|†|;7omƓ†Ѵ‹
ƑƏƏƐbm|;ulvo=|_;ruoˆbvbomvo=r-u|l;m|‰m;uv_brŐl;m7l;m|ő1|oĺƓƔo=ƐƖѶƑķ†rom|_;u;]bv|u-ঞom
o=om7olbmb†lѴ-moĺƐѶƑƓķ‰_b1_1omˆ;u|;7|_;)ouѴ7$u-7;;m|;ubm|o-om7olbmb†luor;u|‹ĺ$_;
_-bul-mo=|_;o†m1bѴo=|_;ourou-ঞom‰_b1_1omvbv|vo=-ѴѴ|_;o‰m;uvŐ1†uu;m|Ѵ‹Ɣo‰m;uvő‰;u;-rrobm|;7
0‹ˆ;uv;-v!;-Ѵ|‹Ő;‹Ѵomőĺ
110 INSPIRING
GENERATIONS

Notes to the Financial Statements

Year ended 31 December 2015

Ƒѵĺ !$ !$+ ""&!"Őom|7ĺő

ƑѵĺƑ $u-mv-1ঞomv‰b|_;‹-m-];l;m|;uvomm;Ѵo=|_;olr-m‹oub|v"†0vb7b-ub;v
-ő $_;;‹-m-];l;m|;uvomm;Ѵ-u;|_;l;l0;uvo=|_;o-u7o= bu;1|ouvķo=|_;1olr-m‹-m7o=b|vr-u;m|ķ
-m7|_;_b;=Š;1†ঞˆ;L1;u-m7l;l0;uvo=|_;-m-];l;m|ollb‚;;o=|_;uo†rĺ

 -‹l;m|vl-7;|o;‹-m-];l;m|;uvomm;Ѵ7†ubm]|_;‹;-u‰;u;-v=oѴѴo‰vĹ

2015 2014
Rs. !vĺ

Fees for Directors ѵķƏƔƏķƏƏƏ 6,275,000

Emoluments ѵѵķƐƖѶķƐƏƑ 61,688,731
"_ou|$;ullrѴo‹l;m|;m;C|v ѶķѵƓƏķƏƏƏ 7,905,020
ov|lrѴo‹l;m|;m;C|v ѶķƑƑƐķƓƕƐ 7,400,358
ѶƖķƐƏƖķƔƕƒ 83,269,109

Ƒƕĺ $$"

 v-||_;u;rouঞm]7-|;|_;=oѴѴo‰bm]-lo†m|v_-ˆ;0;;m-]u;;7-m71omv;t†;m|Ѵ‹1ollb‚;7|o=†|†u;1-rb|-Ѵ
-m7or;u-ঞm];Šr;m7b|†u;bmu;vr;1|o=ruof;1|†m7;u7;ˆ;Ѵorl;m|ĺ

Group Company
2015 2014 2015 2014
om|u-1|;70†|mo|uoˆb7;7=ou Rs. !vĺ Rs. !vĺ

m|;urubv;!;vo†u1;vѴ-mmbm] ƐķƐѵƑķƐƔƕ 1,162,157 ƐķƐѵƑķƐƔƕ 1,162,157

Havelock City Project ƖƒķƏƏƏķƏƏƏ 187,000,000 Ŋ -
ƖƓķƐѵƑķƐƔƕ 188,162,157 ƐķƐѵƑķƐƔƕ 1,162,157

 ;‚;uv o= u;7b| or;m;7 ‰b|_ -mhv -ˆo†ubm] "†rrѴb;uv 0‹ |_; uo†r -m7 |_; olr-m‹ -lo†m|;7 |o !vĺ
ƕƑķѵƑƓķѶƏƏņŊŐƑƏƐƓŊƑƏķѵƔƐķѶƔѵņŊő-m7!vĺƕƑķѵƑƓķѶƏƏņŊŐƑƏƐƓŊƑķƓѵѵķѵѶƑņŊőu;vr;1ঞˆ;Ѵ‹ĺ

ƑѶĺ $"

 ;]-ѴѴ-blĹ
 $_; =oѴѴo‰bm] ;mঞঞ;v bm |_; uo†r -u; bmˆoѴˆ;7 bm Ѵ;]-Ѵ -1ঞomv 7;v1ub0;7 0;Ѵo‰ĺѴ|_o†]_ |_;u; 1-m 0; mo
-vv†u-m1;ķ |_; bu;1|ouv 0;Ѵb;ˆ;ķ 0-v;7 om |_; bm=oul-ঞom 1†uu;m|Ѵ‹ -ˆ-bѴ-0Ѵ;ķ |_-| |_; †Ѵঞl-|; u;voѴ†ঞom o=
v†1_Ѵ;]-Ѵruo1;7†u;v‰o†Ѵ70;=-ˆou-0Ѵ;|o|_;olr-m‹-m7|_;u;=ou;‰o†Ѵ7mo|_-ˆ;-m-7ˆ;uv;;@;1|om
|_;u;v†Ѵ|vo=or;u-ঞomvouCm-m1b-Ѵrovbঞomĺ11ou7bm]Ѵ‹ķmoruoˆbvbom=ou-m‹Ѵb-0bѴb|‹_-v0;;ml-7;bm|_;v;
bm-m1b-Ѵ"|-|;l;m|vĺ

 $_; olr-m‹Ľv "†0vb7b-u‹ bu;h- -rb|-Ѵ -m7 Őˆ|ő |7‰-v -vv;vv;7 =ou(-Ѵ†;77;7$-Š Ő($ő =ou r;ubo7v
0;|‰;;m-m†-u‹ƑƏƏѵ-m7-m†-u‹ƑƏƏƖ-lo†mঞm]|o!vƐƖƏmrѴ†vr;m-Ѵঞ;vĺ$_;olr-m‹-rr;-Ѵ;7-]-bmv|
v-l;-m7CѴ;7-)ub|rrѴb1-ঞombm|_;o†u|o=rr;-Ѵ|oru;ˆ;m|u;1oˆ;u‹-1ঞom0;bm]|-h;m0‹†|_oubঞ;vĺ
$_;olr-m‹-rr;-Ѵ;7-||_;$-Šrr;-ѴollbvvbomŐ$őom|_;v-l;l-‚;u-m7|_;$ ;|;ulbm-ঞom_-v
0;;mbvv†;77bvlbvvbm]|_;v-b7-rr;-Ѵo=|_;olr-m‹ĺ$_;olr-m‹-rr;-Ѵ;7-]-bmv||_;$ ;|;ulbm-ঞom
bm|_;o†u|o=rr;-ѴĺѴ|_o†]_|_;u;1-m0;mo-vv†u-m1;ķ|_; bu;1|ouv0;Ѵb;ˆ;ķ0-v;7om|_;;Šr;u|-7ˆbv;
u;1;bˆ;7-m7|_;bm=oul-ঞom1†uu;m|Ѵ‹-ˆ-bѴ-0Ѵ;ķ|_-||_;†Ѵঞl-|;u;voѴ†ঞomo=|_;v-b7Ѵ;]-Ѵruo1;;7bm]v‰o†Ѵ7
0;=-ˆou-0Ѵ;|o|_;olr-m‹-m7|_;u;=ou;‰o†Ѵ7mo|_-ˆ;-m-7ˆ;uv;;@;1|om|_;u;v†Ѵ|vo=or;u-ঞomvou
Cm-m1b-Ѵrovbঞomĺ11ou7bm]Ѵ‹ķmoruoˆbvbom=ou-m‹Ѵb-0bѴb|‹_-v0;;ml-7;bm|_;v; bm-m1b-Ѵ"|-|;l;m|vĺ
 111
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

 $_;olr-m‹Ľv"†0vb7b-u‹bu;h-ol;vŐˆ|ő|7Őő_-v0;;m-vv;vv;7=ou"-lo†mঞm]|o!vƑĺƖm
rѴ†vr;m-Ѵঞ;v-m7|_;olr-m‹_-v-rr;-Ѵ;7-]-bmv|v-l;ĺ †u|_;u|_; ;r-u|l;m|o=mѴ-m7!;ˆ;m†;_-vu-bv;7
-vv;vvl;m|v7bv-ѴѴo‰bm]mr†|($o=!vƒƑƓm-m7|_;olr-m‹_-v-rr;-Ѵ;7-]-bmv|v-l;ĺѴ|_o†]_|_;u;
1-m0;mo-vv†u-m1;ķ|_; bu;1|ouv0;Ѵb;ˆ;ķ0-v;7om|_;;Šr;u|-7ˆbv;u;1;bˆ;7-m7|_;bm=oul-ঞom1†uu;m|Ѵ‹
-ˆ-bѴ-0Ѵ;ķ |_-| |_; †Ѵঞl-|; u;voѴ†ঞom o= -rr;-Ѵ ņ Ѵ;]-Ѵ ruo1;;7bm]v ‰o†Ѵ7 0; =-ˆou-0Ѵ; |o |_; olr-m‹ -m7
|_;u;=ou;‰o†Ѵ7mo|_-ˆ;-m-7ˆ;uv;;@;1|om|_;u;v†Ѵ|vo=or;u-ঞomvouCm-m1b-Ѵrovbঞomĺ

ƑƖĺ ""$" 

 $_;olr-m‹_-vmo|rѴ;7];7-m‹-vv;|=ou-m‹0†vbm;vv|u-mv-1ঞomĺ

ƒƏĺ ($"&! $!$!!$ $

 $_; o-u7 o= bu;1|ouv o= |_; olr-m‹ _-v 7;1Ѵ-u;7 - bm-Ѵ 7bˆb7;m7 o= !vĺ ƐĺƔƏ r;u v_-u; =ou |_; Cm-m1b-Ѵ
‹;-u;m7;7ƒƐ ;1;l0;uƑƏƐƔĺvu;t†bu;70‹v;1ঞomƔѵŐƑőo=|_;olr-mb;v1|oƏƕo=ƑƏƏƕķ|_;o-u7
o= bu;1|ouv_-v1omCul;7|_-||_;olr-m‹v-ঞvC;v|_;voѴˆ;m1‹|;v|bm-11ou7-m1;‰b|_v;1ঞomƔƕo=|_;
olr-mb;v1|oƏƕo=ƑƏƏƕĺ bˆb7;m7bv|o0;-rruoˆ;70‹"_-u;_oѴ7;uv-||_;mm†-Ѵ;m;u-Ѵ;;ঞm]o=|_;
olr-m‹ĺ

ƒƐĺ !"$$(" "

 $_; uo†r bv ;Šrov;7 |o bm|;u;v| u-|; ubvhķ =ou;b]m 1†uu;m1‹ ubvhķ 1u;7b| ubvh -m7 Ѵbt†b7b|‹ ubvhĺ$_; olr-m‹Ľv
o-u7o= bu;1|ouvoˆ;uv;;v|_;l-m-];l;m|o=|_;v;ubvhvĺ$_;o-u7o= bu;1|ouvbvv†rrou|;70‹-m†7b|
ollb‚;;|_-|-7ˆbv;vomCm-m1b-Ѵubvhv-m7|_;-rruorub-|;Cm-m1b-Ѵubvh]oˆ;um-m1;=u-l;‰ouh=ou|_;uo†rĺ
$_;†7b|ollb‚;;ruoˆb7;v]†b7-m1;|o|_;o-u7o= bu;1|ouv|_-||_;uo†rĽvCm-m1b-ѴubvhŊ|-hbm]-1ঞˆbঞ;v
-u;]oˆ;um;70‹-rruorub-|;roѴb1b;v-m7ruo1;7†u;v-m7|_-|Cm-m1b-Ѵubvhv-u;b7;mঞC;7ķl;-v†u;7-m7l-m-];7
bm-11ou7-m1;‰b|_roѴb1b;vĺ

 $_;o-u7o= bu;1|ouvu;ˆb;‰v-m7-]u;;vroѴb1b;v=oul-m-]bm];-1_o=|_;v;ubvhv‰_b1_-u;v†ll-ubv;70;Ѵo‰ĺ

ƒƐĺƐ -uh;|!bvh
 -uh;|ubvhbv|_;ubvh|_-|1_-m];vbml-uh;|rub1;vķv†1_-v=ou;b]m;Š1_-m];u-|;vķbm|;u;v|u-|;v-m7†mb|rub1;v
‰bѴѴ-@;1||_;uo†rĽvbm1ol;ou|_;ˆ-Ѵ†;o=b|v_oѴ7bm]vo=Cm-m1b-Ѵbmv|u†l;m|vĺ

 m-m-Ѵ‹vbvo=|_;1-uu‹bm]-lo†m|o=Cm-m1b-Ѵbmv|u†l;m|v0-v;7om|_;1†uu;m1‹|_;‹-u;7;molbm-|;7-u;-v
=oѴѴo‰vĹ

Denominated in Denominated
Group ! in USD

-v_-|-mh-m7bm-m7 83,556,767 360,017

Short Term Deposits 1,367,433,942 1,039,650
Short Term Investments 2,861,711,243 -
m|;u;v|;-ubm]o-mvşouuo‰bm]v 45,797,000 -

Company
-v_-|-mh-m7bm-m7 53,882,862 351,214
Short Term Deposits 1,187,433,942 754,650
Other Financial Assets (Unit Trust Investments) 2,861,711,243 -
 m|;u;v|;-ubm]o-mvşouuo‰bm]v 45,797,000 -
112 INSPIRING
GENERATIONS

Notes to the Financial Statements

Year ended 31 December 2015

ƒƐĺ !"$$(" "Őom|7ĺő

-ő m|;u;v|!-|;!bvh
 m|;u;v|u-|;ubvhbv|_;ubvh|_-||_;=-buˆ-Ѵ†;ou=†|†u;1-v_Yo‰vo=-Cm-m1b-Ѵbmv|u†l;m|‰bѴѴY†1|†-|;0;1-†v;
o=1_-m];vbml-uh;|bm|;u;v|u-|;vĺ$_;uo†rĽv;Šrov†u;|o|_;ubvho=1_-m];vbml-uh;|bm|;u;v|u-|;vu;Ѵ-|;v
rubl-ubѴ‹|o|_;uo†rĽvѴom]Ŋ|;ul7;0|o0Ѵb]-ঞomvĺ$_;uo†rl-m-];vb|vbm|;u;v|u-|;ubvh0‹lomb|oubm]-m7
l-m-]bm]o=1-v_Yo‰ķ0‹h;;rbm]0ouuo‰bm]v|o-lbmbl†l-m7m;]oঞ-ঞm]=-ˆou-0Ѵ;u-|;vom0ouuo‰bm]v-m7
7;rovb|v-m70‹0ouuo‰bm]-|CŠ;7u-|;vĺ

0ő ou;b]m†uu;m1‹!bvh
 $_; uo†rĽv ;Šrov†u; |o |_; ubvh o= 1_-m];v bm =ou;b]m ;Š1_-m]; u-|;v u;Ѵ-|;v rubl-ubѴ‹ |o |_; uo†rĽv &" 
7;molbm-|;7Ѵo-mv=ou|_;-ˆ;Ѵo1hb|‹uof;1|ĺ

 $_;uo†rl-m-];vb|v=ou;b]m1†uu;m1‹ubvh0‹;m|;ubm]bm|o1omv|u†1ঞom1om|u-1|vbm!-m70†bѴ7bm]bm|_;
=ou;b]m;Š1_-m];Ѵovvbm|o|_;1ov|o=7;ˆ;Ѵorl;m|ĺ

 $_; =oѴѴo‰bm] |-0Ѵ; 7;lomv|u-|;v |_; v;mvbঞˆb|‹ |o - u;-vom-0Ѵ‹ rovvb0Ѵ; 1_-m]; bm |_; &" 7oѴѴ-u ;Š1_-m];
u-|;ķ‰b|_-ѴѴo|_;uˆ-ub-0Ѵ;v_;Ѵ71omv|-m|ķom|_;uo†rĽvruoC|0;=ou;|-Šķ7†;|orovvb0Ѵ;1_-m];vbm|_;&" 
;Š1_-m];u-|;ķom|_;uo†rĽv&" 7;molbm-|;7bm|;u;v|0;-ubm]Ѵo-mĺ

ˆ;u-];o-m Year End _-m];m&"  @;1|omuoC|

Value Š1_-m];!-|; Rate ;=ou;$-Š

2015 &" ƏĺƔƕm ƐƓƒĺƕƔ ƳņŊƕĺƔѷ 6,165,845

ƒƐĺƑ u;7b|!bvh

 u;7b|ubvhbv|_;ubvh|_-|-1o†m|;ur-u|‹‰bѴѴmo|l;;|b|vo0Ѵb]-ঞomv†m7;u-Cm-m1b-Ѵbmv|u†l;m|ou1†v|ol;u
1om|u-1|ķѴ;-7bm]|o-Cm-m1b-ѴѴovvĺ$_;uo†rbv;Šrov;7|o1u;7b|ubvh=uolb|vor;u-ঞm]-1ঞˆbঞ;vŐrubl-ubѴ‹=ou
|u-7;u;1;bˆ-0Ѵ;vő-m7=uolb|vCm-m1bm]-1ঞˆbঞ;vķbm1Ѵ†7bm]7;rovb|v‰b|_0-mhv-m7Cm-m1b-Ѵbmvঞ|†ঞomvĺ

 $u-7;!;1;bˆ-0Ѵ;v

 †v|ol;u1u;7b|ubvhbvl-m-];70‹;-1_0†vbm;vv†mb|v†0f;1||o|_;uo†rĽv;v|-0Ѵbv_;7roѴb1‹ķruo1;7†u;v-m7
1om|uoѴu;Ѵ-ঞm]|o1†v|ol;u1u;7b|ubvhl-m-];l;m|ĺ

$_;=oѴѴo‰bm]ru-1ঞ1;v-u;blrѴ;l;m|;7‰b|_bm|_;uo†rbmou7;u|ol-m-];1u;7b|ubvhu;Ѵ-|;7|ou;1;bˆ-0Ѵ;vĹ
Ŏ 7;t†-|;1†v|ol;u7;rovb|v-u;1oѴѴ;1|;7=uolѴ;vv;;vo=Ѵ;-v;7ruor;u|‹ĺ
Ŏ †|v|-m7bm]1†v|ol;uu;1;bˆ-0Ѵ;v-u;u;]†Ѵ-uѴ‹lomb|ou;7‰b|_u;]†Ѵ-u|u-7;7;0|ouu;ˆb;‰l;;ঞm]vĺ
Ŏ om|u-1|†-Ѵo0Ѵb]-ঞom|ou;Ѵ;-v;-vv;|vomѴ‹†rom=†ѴѴr-‹l;m|o=u;1;bˆ-0Ѵ;ķ=ouu;Ѵ-|;71om|u-1|v-m7-vv;|vĺ

u;7b|t†-Ѵb|‹bm=oul-ঞombvruoˆb7;7bmo|;ƐƐĺ
 113
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

ƒƐĺƒ bt†b7b|‹ubvh
 $_;uo†rlomb|ouvb|vubvh|o-v_ou|-];o==†m7v0‹=ou;1-vঞm]b|vor;u-ঞom-Ѵ1-v_u;t†bu;l;m|vom-m-mm†-Ѵ
0-vbv -m7 =ou;1-v|v 1-v_ Yo‰ u;t†bu;l;m|v -v r;u |_; ruof;1| blrѴ;l;m|-ঞom r;ubo7ĺ $_; uo†rĽv o0f;1ঞˆ;
bv|ol-bm|-bm-0-Ѵ-m1;0;|‰;;m1omঞm†b|‹o==†m7bm]-m7Y;Šb0bѴb|‹|_uo†]_|_;†v;o=0-mhoˆ;u7u-[vķ-m7
0-mhѴo-mvĺ11;vv|ovo†u1;vo==†m7bm]bvv†L1b;m|Ѵ‹-ˆ-bѴ-0Ѵ;-m7Cm-m1bm]=ou1†uu;m|or;u-ঞomvbv-Ѵu;-7‹
v;1†u;7ĺ

 $_; |-0Ѵ; 0;Ѵo‰ v†ll-ubv;v |_; l-|†ub|‹ ruoCѴ; o= |_; uo†rĽv Cm-m1b-Ѵ Ѵb-0bѴbঞ;v 0-v;7 om 1om|u-1|†-Ѵ
†m7bv1o†m|;7r-‹l;m|vĺ

On Less than 3 to 12 1 to 5 ou;|_-m

Demand ƒom|_v om|_v Years 5 Years $o|-Ѵ
Group !vĺ !vĺ !vĺ !vĺ !vĺ Rs.
Trade and Other
Payables - - 782,166,170 - - ƕѶƑķƐѵѵķƐƕƏ
m|;u;v|;-ubm]o-mv
-m7ouuo‰bm]v - - 50,004,000 45,797,000 - ƖƔķѶƏƐķƏƏƏ
Rental and Customer
Deposit - 20,750,046 119,556,896 1,079,626,858 - ƐķƐƖѶķƑƔƔķƕƓƏ

- 20,750,046 930,049,006 1ķ125 ,432,858 - ƑķƏƕѵķƑƑƑķƖƐƏ

On Less than 3 to 12 1 to 5 ou;|_-m

Demand ƒom|_v om|_v Years 5 Years $o|-Ѵ
Company !vĺ !vĺ !vĺ !vĺ !vĺ Rs.
Trade and Other
Payables - - 329,331,292 - - ƒƑƖķƒƒƐķƑƖƑ
m|;u;v|;-ubm]
Loans and
ouuo‰bm]v - - 50,004,000 45,797,000 - ƖƔķѶƏƐķƏƏƏ
Rental and
Customer
Deposit - 20,750,046 97,878,836 756,840,446 - ѶƕƔķƓѵƖķƒƑѶ
- 20,750,046 477,214,128 802,637,446 - ƐķƒƏƏķѵƏƐķѵƑƏ

32. CAPITAL MANAGEMENT

 $_;v|-|;71-rb|-Ѵo=|_;olr-m‹ķ-m7uo†ru;v;uˆ;v-u;]bˆ;mbmo|;Ɛƒ-m7ƐƓĺ

ƒƒĺ !(&"

 ";|o†|0;Ѵo‰bv-1olr-ubvomo=|_;1-uu‹bm]-lo†m|v-m7=-buˆ-Ѵ†;vo=|_;uo†rĽvCm-m1b-Ѵbmv|u†l;m|v0‹
1Ѵ-vv;vķ|_-|-u;mo|1-uub;7-|=-buˆ-Ѵ†;bm|_;Cm-m1b-Ѵv|-|;l;m|vĺ

 $_bv|-0Ѵ;7o;vmo|bm1Ѵ†7;|_;=-buˆ-Ѵ†;vo=momŊCm-m1b-Ѵ-vv;|v-m7momŊCm-m1b-ѴѴb-0bѴbঞ;vĺ
114 INSPIRING
GENERATIONS

Notes to the Financial Statements

Year ended 31 December 2015

ƒƒĺ !(&"Őom|7ĺő

-uu‹bm]lo†m|  -bu(-Ѵ†;

2015 2014 2015 2014
Group o|; Rs. !vĺ Rs. !vĺ
bm-m1b-Ѵvv;|v
Trade and Other Receivables  ƔƖƏķѶƓƔķƒƓƔ 1,068,811,198 ƔƖƏķѶƓƔķƒƓƔ 1,068,811,198
lo†m|v †;=uol!;Ѵ-|;7-uঞ;v  ƖƖѵķƓѶѶ 8,666,291 ƖƖѵķƓѶѶ 8,666,291
Short Term Investments  ƑķѶѵƐķƕƐƐķƑƓƒ 2,154,735,058 ƑķѶѵƐķƕƐƐķƑƓƒ 2,154,735,058
Cash and Short Term Deposits  ƐķѵѵѵķƏƖƖķƐƐƕ 1,170,006,576 ƐķѵѵѵķƏƖƖķƐƐƕ 1,170,006,576
$o|-Ѵ ƔķƐƐƖķѵƔƑķƐƖƒ 4,402,219,123 ƔķƐƐƖķѵƔƑķƐƖƒ 4,402,219,123

bm-m1b-Ѵb-0bѴbঞ;v
m|;u;v|;-ubm]o-mv-m7ouuo‰bm]v
(Non-Current) A ƓƔķƕƖƕķƏƏƏ 95,801,000 ƓƔķƕƖƕķƏƏƏ 95,801,000
Trade and Other Payables  ƕѶƑķƐѵѵķƐƕƏ 825,224,075 ƕѶƑķƐѵѵķƐƕƏ 825,224,075
lo†m|v †;|o!;Ѵ-|;7-uঞ;v  ƑƐķƐƕƐķƏƓƐ - ƑƐķƐƕƐķƏƓƐ -
m|;u;v|;-ubm]o-mv-m7ouuo‰bm]v
(Current)  ƔƏķƏƏƓķƏƏƏ 985,796,951 ƔƏķƏƏƓķƏƏƏ 985,796,951
Rental and Customer Deposits
(Current) C ѶƕƕķƑƑƓķƑƑƔ 932,326,755 ѶƕƔķƓѵƖķƒƑѶ 904,236,270
$o|-Ѵ ƐķƕƕѵķƒѵƑķƓƒƔ 2,839,148,781 ƐķƕƕƓķѵƏƕķƔƒƖ 2,811,058,296

-uu‹bm]lo†m|  -bu(-Ѵ†;

2015 2014 2015 2014
Company o|; Rs. !vĺ Rs. !vĺ
bm-m1b-Ѵvv;|v
Trade and Other Receivables  ƓƏƒķѵƕƓķƑƐƔ 342,023,979 ƓƏƒķѵƕƓķƑƐƔ 342,023,979
Amounts Due from Related
-uঞ;v  ƖķѶƓƒķƕƓƏ 12,058,039 ƖķѶƓƒķƕƓƏ 12,058,039
Short Term Investments  ƑķѶѵƐķƕƐƐķƑƓƒ 2,154,735,058 ƑķѶѵƐķƕƐƐķƑƓƒ 2,154,735,058
Cash and Short Term Deposits  ƐķƓƏƏķƑѶƓķƕƑƑ 792,836,167 ƐķƓƏƏķƑѶƓķƕƑƑ 792,836,167
$o|-Ѵ ƓķѵƕƔķƔƐƒķƖƑƏ 3,301,653,243 ƓķѵƕƔķƔƐƒķƖƑƏ 3,301,653,243

bm-m1b-Ѵb-0bѴbঞ;v
m|;u;v|;-ubm]o-mv-m7
ouuo‰bm]vŐomŊ†uu;m|ő A ƓƔķƕƖƕķƏƏƏ 95,801,000 ƓƔķƕƖƕķƏƏƏ 95,801,000
Trade and Other Payables  ƒƑƖķƒƒƐķƑƖƑ 334,322,674 ƒƑƖķƒƒƐķƑƖƑ 334,322,674
lo†m|v †;|o!;Ѵ-|;7-uঞ;v  ƑƓķƓƒѵķƔƑƐ 4,657,631 ƑƓķƓƒѵķƔƑƐ 4,657,631
m|;u;v|;-ubm]o-mv-m7
ouuo‰bm]vŐ†uu;m|ő  ƔƏķƏƏƓķƏƏƏ 50,004,000 ƔƏķƏƏƓķƏƏƏ 50,004,000
Rental Deposits (Current) C ѶƕƕķƑƑƓķƑƑƔ 812,607,668 ѶƕƔķƓѵƖķƒƑѶ 840,698,153
$o|-Ѵ ƐķƒƑѵķƕƖƒķƏƒѶ 1,297,392,974 ƐķƒƑƔķƏƒѶķƐƓƐ 1,325,483,459
 115
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

 $_;=-buˆ-Ѵ†;vo=|_;Cm-m1b-Ѵ-vv;|v-m7Ѵb-0bѴbঞ;v-u;bm1Ѵ†7;7-||_;-lo†m|-|‰_b1_|_;bmv|u†l;m|1o†Ѵ7
0; ;Š1_-m];7 bm - 1†uu;m| |u-mv-1ঞom 0;|‰;;m‰bѴѴbm] r-uঞ;vķ o|_;u |_-m bm - =ou1;7 ou Ѵbt†b7-ঞom v-Ѵ;ĺ$_;
=oѴѴo‰bm]l;|_o7v-m7-vv†lrঞomv‰;u;†v;7|o;vঞl-|;|_;=-buˆ-Ѵ†;vĹ

 om]Ŋ|;ul CŠ;7Ŋu-|; u;1;bˆ-0Ѵ;vņ0ouuo‰bm]v -u; ;ˆ-Ѵ†-|;7 0-v;7 om r-u-l;|;uv v†1_ -v bm|;u;v| u-|;vķ ubvh
1_-u-1|;ubvঞ1vo=|_;Cm-m1;7ruof;1|;|1ĺv-|ƒƐ ;1;l0;uƑƏƐƔķ|_;1-uu‹bm]-lo†m|vo=v†1_0ouuo‰bm]v
-u;mo|l-|;ub-ѴѴ‹7b@;u;m|=uol|_;bu1-Ѵ1†Ѵ-|;7=-buˆ-Ѵ†;vĺ

 -v_-m7v_ou|Ŋ|;ul7;rovb|vķ|u-7;u;1;bˆ-0Ѵ;vķ|u-7;r-‹-0Ѵ;v-m7o|_;u1†uu;m|Ѵb-0bѴbঞ;v-rruoŠbl-|;|_;bu
1-uu‹bm]-lo†m|vѴ-u];Ѵ‹7†;|o|_;v_ou|Ŋ|;ull-|†ubঞ;vo=|_;v;bmv|u†l;m|vĺ

 $_;=-buˆ-Ѵ†;o=u;m|-Ѵ7;rovb|vŐo|_;u|_-mѴb-0bѴbঞ;v‰b|_l-|†ubঞ;v‰b|_bmƐƑlom|_vő1-uub;7-|-louঞv;71ov|
-u;;vঞl-|;70‹1olr-ubm]l-uh;|bm|;u;v|u-|;v‰_;m|_;‹‰;u;Cuv|u;1o]mbv;7‰b|_1†uu;m|l-uh;|u-|;v=ou
vblbѴ-uCm-m1b-Ѵbmv|u†l;m|vĺ!;m|-Ѵ7;rovb|v=-ѴѴbm|o|_;1-|;]ou‹;ˆ;ѴƑo= -buˆ-Ѵ†;_b;u-u1_‹ĺ

-ő -buˆ-Ѵ†;_b;u-u1_‹
 $_;uo†r†v;v|_;=oѴѴo‰bm]_b;u-u1_‹=ou7;|;ulbmbm]-m77bv1Ѵovbm]|_;=-buˆ-Ѵ†;o=Cm-m1b-Ѵ-vv;|v0‹ˆ-Ѵ†-ঞom
|;1_mbt†;Ĺ

 ;ˆ;ѴƐĹt†o|;7Նm-7f†v|;7őrub1;vbm-1ঞˆ;l-uh;|v=oub7;mঞ1-Ѵ-vv;|vouѴb-0bѴbঞ;v

 ;ˆ;Ѵ ƑĹ o|_;u |;1_mbt†;v =ou ‰_b1_ -ѴѴ bmr†|v ‰_b1_ _-ˆ; - vb]mbC1-m| ;@;1| om |_; u;1ou7;7 =-bu ˆ-Ѵ†; -u;
o0v;uˆ-0Ѵ;ķ;b|_;u7bu;1|Ѵ‹oubm7bu;1|Ѵ‹ĺ

 ;ˆ;ѴƒĹ|;1_mbt†;v‰_b1_†v;bmr†|v|_-|_-ˆ;-vb]mbC1-m|;@;1|om|_;u;1ou7;7=-buˆ-Ѵ†;|_-|-u;mo|0-v;7
on observable market data

 v-|ƒƐ ;1;l0;uƑƏƐƔķ|_;uo†r_;Ѵ7|_;=oѴѴo‰bm]Cm-m1b-Ѵbmv|u†l;m|v1-uub;7-|=-buˆ-Ѵ†;om|_;v|-|;l;m|
o=Cm-m1b-ѴrovbঞomĹ

0ő bm-m1b-Ѵvv;|vl;-v†u;7-|=-buˆ-Ѵ†;

2015 Level 1 Level 2 Level 3

Rs. !vĺ !vĺ !vĺ
"_ou|$;ulmˆ;v|l;m|vŐo|;ƐƔĺƐő ƑķѶѵƐķƕƐƐķƑƓƒ - 2,861,711,243 -

 †ubm]|_;u;rouঞm]r;ubo7;m7bm]ƒƐ ;1;l0;uƑƏƐƔķ|_;u;‰;u;mo|u-mv=;uv0;|‰;;m;ˆ;ѴƐ-m7;ˆ;ѴƑ=-bu
ˆ-Ѵ†;l;-v†u;l;m|vĺ

ƒƓĺ +""  ""$" $"+"&!$""

 bm-m1b-Ѵ-vv;|v-m7Cm-m1b-ѴѴb-0bѴbঞ;v-u;l;-v†u;7om-mom]obm]0-vbv-|;b|_;u=-buˆ-Ѵ†;ou-louঞv;71ov|ĺ
$_;v†ll-u‹o=vb]mbC1-m|-11o†mঞm]roѴb1b;v7;v1ub0;v_o‰|_;1Ѵ-vv;vo=Cm-m1b-Ѵbmv|u†l;m|v-u;l;-v†u;7ķ
-m7_o‰bm1ol;-m7;Šr;mv;vķbm1Ѵ†7bm]=-buˆ-Ѵ†;]-bmv-m7Ѵovv;v-u;u;1o]mbv;7ĺ$_;=oѴѴo‰bm]|-0Ѵ;-m-Ѵ‹v;
|_;1-uu‹bm]-lo†m|o=Cm-m1b-Ѵ-vv;|v-m7Ѵb-0bѴbঞ;v0‹1-|;]ou‹-v7;Cm;7bm"ƒƖŊ bm-m1b-Ѵmv|u†l;m|vĹ
!;1o]mbঞom-m7l;-v†u;l;m|-m70‹"|-|;l;m|o= bm-m1b-Ѵovbঞom_;-7bm]Ĺ
ƒƓĺ +""  ""$" $"+"&!$""Őom|7ĺő
 uo†rņolr-m‹
As at 31 December 2015
116 INSPIRING

bm-m1b-Ѵvv;|v;Ѵ7=ou bm-m1b-Ѵvv;|v-m7b-0bѴbঞ;v
GENERATIONS

$u-7bm]-| -bu(-Ѵ†; -|louঞv;7ov| $o|-Ѵ

Group Company Group Company Group Company
Rs. Rs. Rs. Rs. Rs. Rs.
bm-m1b-Ѵvv;|v
Year ended 31 December 2015

Trade and Other Receivables - - 590,845,345 403,674,215 590,845,345 403,674,215

lo†m|v †;=uol!;Ѵ-|;7-uঞ;v - - 996,488 9,843,740 996,488 9,843,740
Short Term Investments 2,861,711,243 2,861,711,243 - - 2,861,711,243 2,861,711,243
Cash and Short Term Deposits - - 1,666,099,117 1,400,284,722 1,666,099,117 1,400,284,722
Notes to the Financial Statements

$o|-Ѵ bm-m1b-Ѵvv;|v ƑķѶѵƐķƕƐƐķƑƓƒ ƑķѶѵƐķƕƐƐķƑƓƒ ƑķƑƔƕķƖƓƏķƖƔƏ ƐķѶƐƒķѶƏƑķѵƕƕ ƔķƐƐƖķѵƔƑķƐƖƒ ƓķѵƕƔķƔƐƒķƖƑƏ

bm-m1b-Ѵb-0bѴbঞ;v
m|;u;v|;-ubm]o-mv-m7
ouuo‰bm]vŐomŊ†uu;m|ő - - 45,797,000 45,797,000 45,797,000 45,797,000
Trade and Other Payables - - 782,166,170 329,331,292 782,166,170 329,331,292
lo†m|v †;|o!;Ѵ-|;7-uঞ;v - - 21,171,041 24,436,521 21,171,041 24,436,521
m|;u;v|;-ubm]o-mv-m7
ouuo‰bm]vŐ†uu;m|ő - - 50,004,000 50,004,000 50,004,000 50,004,000
Rental and Customer Deposits
(Current) - - 875,469,328 875,469,328 875,469,328 875,469,328
$o|-Ѵ bm-m1b-Ѵb-0bѴbঞ;v Ŋ Ŋ ƐķƕƕƓķѵƏƕķƔƒƖ ƐķƒƑƔķƏƒѶķƐƓƐ ƐķƕƕƓķѵƏƕķƔƒƖ ƐķƒƑƔķƏƒѶķƐƓƐ
 uo†rņolr-m‹
As at 31 December 2014

bm-m1b-Ѵvv;|v;Ѵ7=ou bm-m1b-Ѵvv;|v-m7b-0bѴbঞ;v
$u-7bm]-| -bu(-Ѵ†; -|louঞv;7ov| $o|-Ѵ
Group Company Group Company Group Company
Rs. Rs. Rs. Rs. Rs. Rs.
bm-m1b-Ѵvv;|v
Trade and Other Receivables - - 1,068,811,198 342,023,979 1,068,811,198 342,023,979
lo†m|v †;=uol!;Ѵ-|;7-uঞ;v - - 8,666,291 12,058,039 8,666,291 12,058,039
Short Term Investments 2,154,735,058 2,154,735,058 - - 2,861,711,243 2,154,735,058
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

Cash and Short Term Deposits - - 1,170,006,576 792,836,167 1,170,006,576 792,836,167

$o|-Ѵ bm-m1b-Ѵvv;|v ƑķƐƔƓķƕƒƔķƏƔѶ ƑķƐƔƓķƕƒƔķƏƔѶ ƑķƑƓƕķƓѶƓķƏѵƔ ƐķƐƓѵķƖƐѶķƐѶƔ ƓķƓƏƑķƑƐƖķƐƑƒ ƒķƒƏƐķѵƔƒķƑƓƒ

bm-m1b-Ѵb-0bѴbঞ;v
m|;u;v|;-ubm]o-mv-m7
ouuo‰bm]vŐomŊ†uu;m|ő - - 95,801,000 95,801,000 95,801,000 95,801,000
Trade and Other Payables - - 825,224,075 334,322,674 825,224,075 334,322,674
lo†m|v †;|o!;Ѵ-|;7-uঞ;v - - - 4,657,631 - 4,657,631
m|;u;v|;-ubm]o-mv-m7
ouuo‰bm]vŐ†uu;m|ő - - 985,796,951 50,004,000 985,796,951 50,004,000
Rental and Customer Deposits
(Current) - - 904,236,270 840,698,153 904,236,270 ѶƓƏķѵƖѶķƐƔƒ
$o|-Ѵ bm-m1b-Ѵb-0bѴbঞ;v Ŋ Ŋ ƑķѶƐƐķƏƔѶķƑƖѵ ƐķƒƑƔķƓѶƒķƓƔƖ ƑķѶƐƐķƏƔѶķƑƖѵ ƐķƒƑƔķƓѶƒķƓƔƖ
117
118 INSPIRING
GENERATIONS

Group Performance - Ten Year Summary

!vĺm 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006
"$$$ ! $!""
Rental Revenue ƐķƖѵƑ 1,764 1,590 1,339 850 697 666 805 716 874
Revenue from Other Services 205 104 69 54 57 51 41 42 35 48
Apartment Revenue ƖƕƓ 4,329 3,190 554 1,588 950 1,234 598 379 -
$o|-Ѵ!;ˆ;m†; ƒķƐƓƐ 6,198 4,848 1,948 2,495 1,698 1,941 1,445 1,130 922
bu;1|r;u-ঞm]Šr;mv;v ŐƔƓѶő (482) (424) (426) (338) (329) (334) (350) (271) (313)
Cost of Sales of Apartment ŐѵƔƒő (3,308) (2,635) (397) (1,231) (633) (1,051) (403) (328) -
uovvuoC| ƐķƖƓƏ 2,408 1,789 1,125 926 736 556 692 531 609
Fair Value Gain on Investment
Property ƐķƐƕƔ 1,016 930 1,563 2,123 473 1,019 1,388 1,834 1,683
|_;ur;u-ঞm]Šr;mv;v ŐƒƏƔő (266) (268) (260) (270) (274) (187) (202) (178) (159)
;| bm-m1;m1ol;ņŐŠr;mv;ő ƐѵƖ 155 175 176 27 (94) 3 43 43 (109)
uoC|=uolr;u-ঞm]1ঞˆbঞ;v ƑķƖƕƖ 3,312 2,626 2,604 2,806 841 1,391 1,921 2,230 2,024
Other Income ѶƓ 64 - - - - - - - -
Š1_-m];-bmņŐovvő 10 10 15 (85) (40) 84 - (88) - -
;|uoC|;=ou;$-Š ƒķƏƕƒ 3,386 2,641 2,519 2,766 925 1,391 1,833 2,230 2,024
m1ol;$-Š;v ŐƓƑő (50) (2) (51) (25) (11) (7) (16) (17) (6)
;|uoC|[;u$-Š ƒķƏƒƐ 3,336 2,639 2,468 2,741 914 1,384 1,817 2,213 2,018
uoC|‚ub0†|-0Ѵ;|ot†b|‹
Holders of the Parent ƑķƖƖƐ 2,957 2,435 2,469 2,681 844 1,342 1,783 2,197 2,021
omŊ1om|uoѴѴbm]m|;u;v| 40 379 204 (1) 60 70 43 33 16 (3)
ƒķƏƒƐ 3,336 2,639 2,468 2,741 914 1,384 1,817 2,213 2,018
"$$$  "$
vv;|v
omŊ†uu;m|vv;|v
Investment Property ƑƑķƔƕƖ 21,405 20,389 19,459 17,884 15,751 15,278 14,259 12,870 11,203
uor;u|‹Ѵ-m|şt†brl;m| ƐķƔƖѶ 1,559 703 644 395 254 246 236 215 51
m|-m]b0Ѵ;vv;|v 12 14 18 18 26 30 35 15 16 16
Inventory ƑķƒѵƑ 2,125 1,785 - - - - - - -
;=;uu;7$-Švv;|v ƑƖ 27 41 - - - - - - -
ƑѵķƔѶƐ 25,130 22,937 20,122 18,305 16,035 15,560 14,510 13,101 11,270
†uu;m|vv;|v
Inventory 272 424 3,565 4,129 3,167 3,981 4,093 4,226 3,108 2,210
$u-7;ş|_;u!;1;bˆ-0Ѵ;v ѶƖƑ 1,379 1,448 1,839 1,563 1,275 1,635 971 579 468
Amounts due From Related
-uঞ;v 1 9 25 14 25 53 4 22 3 17
m1ol;$-Š!;1oˆ;u-0Ѵ; Ŋ 10 2 - - 1 1 - - -
Short Term Investments ƑķѶѵƑ 2,155 1,236 - - - - - - -
-v_ş"_ou|$;ul ;rovb|v Ɛķѵѵѵ 1,170 1,680 1,811 2,197 1,008 177 244 902 462
ƔķѵƖƒ 5,146 7,956 7,793 6,952 6,318 5,910 5,462 4,592 3,156
$$""$" ƒƑķƑƕƓ 30,276 30,893 27,915 25,257 22,353 21,470 19,972 17,693 14,426
t†b|‹şb-0bѴbঞ;v
Stated Capital ƐƐķƐѵƒ 10,186 10,186 10,186 10,186 10,186 9,713 9,713 9,713 9,713
!;ˆ-Ѵ†-ঞom!;v;uˆ; ƑƖƐ 265 239 216 165 149 135 112 80 -
!;|-bm;7-umbm]v ƐƕķƐƔƐ 15,478 13,750 11,559 9,343 6,915 6,283 5,241 3,813 1,939
t†b|‹‚ub0†|-0Ѵ;|ot†b|‹
Holders ƑѶķѵƏƔ 25,929 24,175 21,961 19,694 17,250 16,131 15,066 13,606 11,652
bmoub|‹m|;u;v| ƐķƔƐƑ 1,507 1,147 943 963 903 833 791 758 741
$o|-Ѵt†b|‹ ƒƏķƐƐƕ 27,436 25,322 22,904 20,657 18,153 16,964 15,857 14,364 12,394
 119
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

!vĺm 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006
omŊ†uu;m|b-0bѴbঞ;v
m|;u;v|;-ubm]o-mvş
ouuo‰bm]v 46 96 146 196 246 2,194 1,549 567 1,135 1,106
omm|;u;v|;-ubm]o-mvş
ouuo‰bm]v Ŋ - - - - 1 2 3 4 -
ov|lrѴo‹l;m|;m;C|b-0bѴb|‹ 27 21 18 27 23 21 20 18 15 12
Customer Deposit 323 - - - - - - - - -
;=;uu;7$-Šb0bѴb|‹ 23 Ŋ Ŋ Ŋ Ŋ Ŋ Ŋ Ŋ Ŋ Ŋ
$o|-Ѵom†uu;m|b-0bѴbঞ;v 413 117 163 223 269 2,216 1,571 588 1,154 1,118
†uu;m|b-0bѴbঞ;v
$u-7;ş|_;u-‹-0Ѵ;v ƕѶƑ 825 1,594 543 697 871 831 996 2,056 845
!;m|-Ѵş†v|ol;u ;rovb|v ѶƕƔ 904 1,888 2,082 976 418 440 925 - -
lo†m|v †;|o!;Ѵ-|;7-uঞ;v 21 - 12 20 9 9 26 13 19 10
m|;u;v|;-ubm]o-mvş
ouuo‰bm]v 50 986 1,888 2,117 2,636 683 1,596 1,587 50 -
omm|;u;v|;-ubm]o-mvş
ouuo‰bm]v Ŋ - - - 1 1 1 1 1 18
m1ol;$-Š-‹-0Ѵ; 4 2 21 24 10 - - 4 11 3
Dividend Payable 7 5 3 3 2 2 39 1 38 38
$o|-Ѵ†uu;m|b-0bѴbঞ;v ƐķƕƒƖ 2,723 5,407 4,788 4,331 1,984 2,935 3,527 2,175 914
$o|-Ѵt†b|‹şb-0bѴbঞ;v ƒƑķƑƕƓ 30,276 30,893 27,915 25,257 22,353 21,470 19,972 17,694 14,426
-umbm]v;u"_-u; 3.44 ƒĺƓѶ ƑĺѶƖ ƑĺƖƒ ƒĺƐѶ ƐĺƑƒ ƑĺƑƔ ƒĺƏƓ ƒĺƕƓ ƒĺѵƕ
-umbm]v;u"_-u;
ŐŠ1Ѵ†7bm] -bu(-Ѵ†;-bmvő ƑĺƏƖ ƑĺƑƖ ƐĺƕѶ ƐĺƏƕ Əĺѵѵ ƏĺƔѶ ƏĺƔƕ ƏĺƕƏ ƏĺѵƐ ƏĺѵƏ
Dividend Per Share 1.50 ƐĺƓƔ ƏĺƒƏ ƏĺƒƏ ƏĺƒƏ ƏĺƑѵ ƏĺƓƏ ƏĺƔƏ ƏĺƒƏ -
Net Asset Value Per Share 32.22 ƒƏĺƕƓ ƑѶĺѵѵ ƑѵĺƏƓ ƑƒĺƒƔ ƑƏĺƓƔ ƑѶĺѵƖ ƑѵĺƕƖ ƑƓĺƑƏ ƑƏĺƕƑ
"_-u;(-Ѵ†;Őb]_ő 24.10 ƑƖĺƒƏ ƑƐĺƒƏ ƐƔĺѵƏ ƐƖĺƓƏ ƑƓĺƏƏ ƐƔĺƏƏ ƐƔĺƏƏ ƐƔĺƔƏ ƑƒĺƑƔ
"_-u;(-Ѵ†;Őo‰ő 20.50 ƐѶĺƔƏ ƐƒĺƖƏ ƖĺƔƏ ƐƒĺƐƏ ƐƓĺƏƏ ƔĺƕƔ ƔĺƕƔ ƖĺƏƏ ƖĺƔƏ
†uu;m|!-ঞo 3.27 ƐĺѶƖ ƐĺƓƕ Ɛĺѵƒ ƐĺѵƐ ƒĺƐѶ ƑĺƏƐ ƐĺƔƔ ƑĺƐƐ ƒĺƓƔ
Return on equity (%) ƐƐѷ 13% 11% 11% 14% 5% 8% 12% 17% 23%
Total Debt to Total Assets (%) ƕѷ 9% 18% 18% 18% 19% 21% 21% 19% 14%
;0|ņt†b|‹!-ঞoŐѷő Əĺƒѷ 4% 8% 11% 15% 17% 19% 14% 9% 9%
Return on Assets (%) ƐƏѷ 11% 9% 9% 11% 4% 6% 9% 13% 14%
Asset Turnover (%) ƐƏѷ 20% 16% 7% 10% 8% 9% 7% 6% 6%
bˆb7;m7-‹o†|!-ঞoŐѷő ƓƓѷ 42% 10% 10% 9% 21% 18% 16% 8% 0%

 $  $!" !;|†umomt†b|‹

;|vv;|(-Ѵ†;;u"_-u; uoC|‚ub0†|-0Ѵ; |o t†b|‹ oѴ7;uv 7bˆb7;7 0‹ˆ;u-];

t†b|‹‚ub0†|-0Ѵ;|ot†b|‹oѴ7;uvo=|_;-u;m|ĺ
t†b|‹‚ub0†|-0Ѵ;|ot†b|‹oѴ7;uvo=|_;-u;m|7bˆb7;7
0‹ |_; ‰;b]_|;7 -ˆ;u-]; m†l0;u o= ou7bm-u‹ v_-u;v bm $o|-Ѵ ;0||o$o|-Ѵvv;|v
bvv†;ĺ $o|-ѴomŊ†uu;m|b-0bѴbঞ;v-m7$o|-Ѵ†uu;m|b-0bѴbঞ;v
†uu;m|!-ঞo divided by Total Assets

$o|-Ѵ†uu;m|vv;|v7bˆb7;70‹$o|-Ѵ†uu;m|b-0bѴbঞ;vĺ ;0|ņt†b|‹!-ঞo

Asset Turnover $o|-Ѵ m|;u;v| ;-ubm] o-mv -m7 ouuo‰bm] 7bˆb7;7 0‹
t†b|‹‚ub0†|-0Ѵ;|ot†b|‹oѴ7;uvo=|_;-u;m|ĺ
$o|-Ѵ!;ˆ;m†;7bˆb7;70‹$o|-Ѵˆ;u-];vv;|vĺ
120 INSPIRING
GENERATIONS

Shareholder Information
Ɛĺ "$$ $

ƒƐv| ;1;l0;uƑƏƐƔ 31st December 2014

vv†;-m7 †ѴѴ‹r-b7-rb|-ѴŐ!vĺő ƐƐķƐѵƑķƕƔƐķƔƐƒ 10,186,085,405

No of Shares ѶѶƕķѶƕѶķƑƕƒ 843,484,359
Class of Shares Ordinary Shares
(oঞm]!b]_|v One Vote per Ordinary Share

Ƒĺ "$*"$

 $_;bvv†;7ou7bm-u‹v_-u;vo=ˆ;uv;-v!;-Ѵ|‹;‹Ѵomķ-u;Ѵbv|;7‰b|_|_;oѴol0o"|o1hŠ1_-m];o="ub-mh-ĺ

ƒĺ! !+"! !""$ƒƐ"$ !ƑƏƐƔ

 $_;m†l0;uo="_-u;oѴ7;uv-v-|ƒƐv| ;1;l0;uƑƏƐƔ‰-vƓķƒѵƐŐv-|ƒƐv| ;1;l0;uƑƏƐƓŊƒķѵƒƔőĺ

"_-u;_oѴ7bm]v Resident Non Resident Total

oĺo= oĺo= ;u1;m|-]; oĺo= oĺo= ;u1;m|-]; oĺo= ;u1;m|-];
Shareholders Shares (%) Shareholders Shares (%) Shareholders oĺo="_-u;v (%)

1 - 1,000 2,280 783,279 ƏĺƐƏѷ 19 9,175 ƏĺƏƏѷ 2,299 792,454 ƏĺƐƏѷ

1,001 - 10,000 1,404 5,540,965 ƏĺѵƑѷ 19 91,765 ƏĺƏƐѷ 1,423 5,632,730 Əĺѵƒѷ
10,001 - 100,000 489 14,675,222 ƐĺѵƔѷ 22 815,994 ƏĺƏƖѷ 511 15,491,216 ƐĺƕƓѷ
100,001 - 1,000,000 93 26,319,638 ƑĺƖѵѷ 15 4,607,813 ƏĺƔƑѷ 108 30,927,451 ƒĺƓѶѷ
Over 1,000,000 13 63,117,500 ƕĺƐƐѷ 7 771,916,922 ѶѵĺƖƓѷ 20 835,034,422 ƖƓĺƏƔѷ
ƓķƑƕƖ ƐƐƏķƓƒѵķѵƏƓ ƐƑĺƓƓѷ ѶƑ ƕƕƕķƓƓƐķѵѵƖ ѶƕĺƔѵѷ ƓķƒѵƐ ѶѶƕķѶƕѶķƑƕƒ ƐƏƏĺƏƏѷ

Categories of Shareholders
-|;]ou‹ vo=ƒƐ ;1;l0;uƑƏƐƔ As of 31 December 2014
oĺo="_-u;_oѴ7;uv oĺo="_-u;v oĺo="_-u;_oѴ7;uv oĺo="_-u;v

Individual ƓķƏƕѵ ƒƕķƓƏƏķѶƐƕ 3,402 27,998,830

mvঞ|†ঞom-Ѵ ƑѶƔ ѶƔƏķƓƕƕķƓƔѵ 233 815,485,529
ƓķƒѵƐ ѶѶƕķѶƕѶķƑƕƒ 3,635 843,484,359

Ɠĺ "!$!  !$

Year Ended 31 December 2015 31 December 2014
 -|; ub1;Ő!vĺő Date ub1;Ő!vĺő

b]_;v| 12.01.2015 ƑƖĺƏƏ ƐƑĺƐƐĺƑƏƐƓ ƑƖĺƒƏ

o‰;v| 30.10.2015 20.50 ƏƑĺƏƐĺƑƏƐƓ ƐѶĺƔƏ
Last Traded Price 31.12.2015 23.20 ƒƐĺƐƑĺƑƏƐƓ ƑѵĺƒƏ

31 December 2015 31 December 2014

†l0;uo=$u-mv-1ঞomv ƐƏķƕѵƐ 11,646

Number of Shares Traded ƓƕķƏѶѶķƐƖƔ 59,804,709
(-Ѵ†;o="_-u;v$u-7;7Ő!vĺő ƐķƐƐѶķƕƔƏķƑѶƔ 1,418,778,653
 121
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

Ɣĺ (  "

31 December 2015 31 December 2014

 bˆb7;m7v;u"_-u;Ő!vĺő 1.50 ƐĺƓƔ

Dividend Payout (%) 43.6 ƓƐĺƕ

ѵĺ !$!"Ľ"! " 

$_;"_-u;_oѴ7bm]o=|_; bu;1|ouv-||_;0;]bmmbm]-m7-||_;;m7o=|_;‹;-u‰-v-v=oѴѴo‰vĹ

Name of Director ƒƐv| ;1;l0;uƑƏƐƔ 31st December 2014

oo="_-u;v No of Shares

uĺ"_bm];;$-o bѴ Nil

uĺ;Ѵˆbm+-ro_bm bѴ Nil
uvĺbѴ7u;7$-om] bѴ Nil
uĺ†vv;bm,†0bu;-vvbl bѴ Nil
uĺmbm]m] ƓƏƏķƏƏƏ 380,000
uvĺ!o_bmb;মঞ--m-‹-hh-u- bѴ Nil
uĺfb|_-_;m7u- ;"bѴˆ--‹-u-|m; bѴ Nil
uĺ;vѴb;!-Ѵr_ ;-m;uoѴѴ; bѴ Nil
uĺ$bvv-†l-u--m7-u-m-‹-h; bѴ Nil
uĺ!-m;;-‹-l-_- bѴ Nil
uĺu-ˆbu _-mo†v_"-l-u-vbm]_; bѴ Nil
122 INSPIRING
GENERATIONS

Shareholder Information

ƕĺ $$)$+"! !""$ƒƐ"$ !

v-|ƒƐv| ;1ƑƏƐƔ As at 31st Dec 2014

Name "_-u;_oѴ7bm] ;u1;m|-];Őѷő "_-u;_oѴ7bm] ;u1;m|-];Őѷő

1 "_bm]‰-mmˆ;v|l;m|olr-m‹blb|;7 ƓƕƕķѵƔƔķƐƐѵ ƔƒĺѶƏ 453,366,580 ƔƒĺƕƔ

2 &mb|‹†bѴ7;uvblb|;7 ƑƒƐķƖƔƐķƏƖƏ 26.12 220,156,488 ƑѵĺƐƏ
3 ;uv_bm]"ņˆ;u0-1_u-†vomşoĺ ƒƓķѶƐƏķѶƖѶ ƒĺƖƑ 22,532,245 Ƒĺѵƕ
4 "_bm]‰-mmˆ;v|l;m|Ő"bm]-rou;ő|;|7ĺ ƑƑķƕƑƖķƑƐѶ 2.56 21,573,450 ƑĺƔѵ
5 ;orѴ;v-mh ƑƐķѶƐƒķƏƏƒ 2.46 20,722,353 ƑĺƓѵ
6 Employees Provident Fund ƐƓķѶƔƖķƏƕƒ 1.67 32,600,473 ƒĺѶѵ
7 _brr;uC;Ѵ7mˆ;v|l;m|vblb|;7 ѶķƏƕƔķƏƔƑ ƏĺƖƐ 7,671,300 ƏĺƖƐ
8 "ub-mh-mv†u-m1;ourou-ঞom|7Ŋb=; †m7 ƓķѵƓƖķƑƐѶ 0.52 3,472,300 ƏĺƓƐ
9 -mho=;‹ѴomŊoƑņ ƒķƖƕƐķѶƓƑ 0.45 3,773,250 ƏĺƓƔ
10 ĺĺo1ov_;ѴѴŐubˆ-|;ő|7 ƒķƐƒƏķƑѶƐ 0.35 3,690,288 ƏĺƓƓ
11 ;†|v1_;-mh"$u†v|;;=ouĺ(ĺ(ĺ †m7 ƒķƏƖƖķƔƔƏ 0.35 - -
12 ub;m|-Ѵ;-uѴm|;um-ঞom-Ѵm1 ƑķѵѶƓķƑƐƏ 0.30 2,550,000 ƏĺƒƏ
13 ĺ)ĺ-Ѵ-v†ub‹-şoĺŐˆ|ő|7 ƑķƑѵƏķƖƖƑ 0.25 1,869,701 ƏĺƑƑ
14 ;‹Ѵommˆ;v|l;m|ņŲƏƐ ƑķƏƖƏķѶƔƖ 0.24 1,200,000 ƏĺƐƓ
15 ";‹Ѵ-m-mhѴ1ņ"‹lr_om‹-rb|-Ѵ|7ĺ ƐķƖƓƑķƐƔѶ 0.22 1,750,051 ƏĺƑƐ
16 uĺ-†|-l!-_†Ѵ ƐķƐƐƏķƏƏƑ 0.13 1,005,500 ƏĺƐƑ
17 uĺ"†0-vbm]_; ƐķƏƕƐķƏƔƖ 0.12 - -
18 uĺ);;u-vbm]_; ƐķƏƔƓķѶƒƓ 0.12 892,093 ƏĺƐƐ
19 $bl;Š-ul;m|vŐˆ|ő|7ĺ ƐķƏƔƑķѵƒƐ 0.12 1,000,000 ƏĺƐƑ
20 uĺ";ѴѴ-l†‚†-];m7u- ƖƓѶķƐƖƐ 0.11 910,150 ƏĺƐƐ
Total ѶƓƏķƖƔƖķƑƕƕ 94.72 ѶƏƏķƕƒѵķƑƑƑ 94.94
Held by other Shareholders ƓѵķƖƐѶķƖƖѵ ƔĺƑѶ 42,748,137 ƔĺƏƕ
$o|-Ѵm†l0;uo=u7bm-u‹"_-u;v ѶѶƕķѶƕѶķƑƕƒ 100.00 ѶƓƒķƓѶƓķƒƔƖ 100.00
†0Ѵb1oѴ7bm] ƐƔƔķƐƓƑķѶƓƖ 17.47 148,007,841 ƐƕĺƔƔ
Others ƕƒƑķƕƒƔķƓƑƓ ѶƑĺƔƒ 695,476,518 ѶƑĺƓƔ
Total ѶѶƕķѶƕѶķƑƕƒ 100.00 ѶƓƒķƓѶƓķƒƔƖ 100.00
 123
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

Ѷĺ &"! 

ƒƐv| 31st
December December
-u;m|ņuo†rņ"†0vb7b-u‹ 2015 2014

"_bm]‰-mmˆ;v|l;m|volr-m‹blb|;7 ƓƕƕķѵƔƔķƐƐѵ 453,366,580

&mb|‹†bѴ7;uvblb|;7 ƑƒƐķƖƔƐķƏƖƏ 220,156,488
"_bm]‰-mmˆ;v|l;m|Ő"bm]-rou;ő|;|7ĺ ƑƑķƕƑƖķƑƐѶ 21,573,450
ƕƒƑķƒƒƔķƓƑƓ 695,096,518

vv†;7m†l0;uo=ou7bm-u‹v_-u;v-v-|ƒƐ ;1;l0;u ѶѶƕķѶƕѶķƑƕƒ 843,484,359

Less
-u;m|ņuo†r ƓƕƕķѵƔƔķƐƐѵ 453,366,580
Subsidiaries ƑƔƓķѵѶƏķƒƏѶ 241,729,938
ˆ;uƐƏѷoѴ7bm]
bu;1|ouvŝ"_-u;_oѴ7bm] ƓƏƏķƏƏƏ 380,000
Spouses of Directors and CEO
†0Ѵb1oѴ7bm] ƐƔƔķƐƓƑķѶƓƖ 148,007,841
†0Ѵb1oѴ7bm]-v-r;u1;m|-];o=vv†;7u7bm-u‹"_-u;v ƐƕĺƓƕѷ ƐƕĺƔƔѷ
124 INSPIRING
GENERATIONS

Group Land Portfolio

o1-ঞom Land Extent -uh;|(-Ѵ†; Category
ĺ!ĺĺ !vĺm

Echelon Squire, 2 0 0 4,000 Investment Property

oѴol0oƏƐĺ
WTC Building

No 34, - 3 22 426 uor;u|‹Ѵ-m|şt†brl;m|

Havelock City,
oѴol0oƏѵĺ
Clubhouse Building

No 34,
Havelock City,
oѴol0oѵĺ 13 2 19 5,829 mˆ;m|ou‹ŋom]|;ulvv;|v
 125
OVERSEAS REALTY (CEYLON) PLC | ANNUAL REPORT 2015

Notice of Meeting
oঞ1;bv_;u;0‹]bˆ;m|_-||_;$_bu|‹Ŋ o†u|_ŐƒƓ|_őmm†-Ѵ bˆőu7bm-u‹!;voѴ†ঞom
;m;u-Ѵ ;;ঞm] o= (!"" !$+ Ő+ő 
 $_-||_;-];Ѵblb|o=ƕƏ‹;-uvu;=;uu;7|obm";1ঞom
‰bѴѴ0;_;Ѵ7omom7-‹ķƑƔ|_rubѴƑƏƐѵ-|ƓĺƏƏrĺlĺ-|
ƑƐƏo=|_;olr-mb;v1|oĺƏƕo=ƑƏƏƕv_-ѴѴmo|
|_;-ˆ;Ѵo1hb|‹Ѵ†0o†v;ķoĺƒƑƓķ-ˆ;Ѵo1h!o-7ķ
-rrѴ‹|o$ ! "(+!$ķ
oѴol0oƏѵķ=ou|_;|u-mv-1ঞomo=|_;=oѴѴo‰bm]0†vbm;vvĹ
‰_o -‚-bm;7 |_; -]; o= ƕƏ ‹;-uv om ƒƏ|_ rubѴ
2010 and that he be re-elected as a Director of the
  olr-m‹ĺ
Ɛĺ $o u;1;bˆ; -m7 1omvb7;u |_; !;rou| o= |_; o-u7 o=
ˆőu7bm-u‹!;voѴ†ঞom
Directors and the Financial Statement as at 31st
December 2015 and the Report of the Auditors  $_-||_;-];Ѵblb|o=ƕƏ‹;-uvu;=;uu;7|obm";1ঞom
|_;u;omĺ ƑƐƏ o= |_; olr-mb;v 1| oĺ Əƕ o= ƑƏƏƕ v_-ѴѴ
mo|-rrѴ‹|o+ķ‰_o-‚-bm;7|_;-];
Ƒĺ $o 7;1Ѵ-u; - buv| -m7 bm-Ѵ bˆb7;m7 o= !vĺƐĺƔƏ r;u
of 70 years on 2nd February 2011 and that he be
u7bm-u‹"_-u;bmu;vr;1|o=|_;Cm-m1b-Ѵ‹;-u;m7;7
u;Ŋ;Ѵ;1|;7-v- bu;1|ouo=|_;olr-m‹ĺ
31st December 2015 as recommended by the
bu;1|ouvĺ ˆbőu7bm-u‹!;voѴ†ঞom

ƒĺ $o u;Ŋ;Ѵ;1| -v - bu;1|ou u !-m;; -‹-l-_- ‰_o  $_-||_;-];Ѵblb|o=ƕƏ‹;-uvu;=;uu;7|obm";1ঞom

u;ঞu;v0‹uo|-ঞombm|;ulvo=uঞ1Ѵ;ƑƖo=|_;uঞ1Ѵ;v
o=vvo1b-ঞomo=|_;olr-m‹ķ-m70;bm];Ѵb]b0Ѵ;_-v
o@;u;7_;uv;Ѵ==ouu;Ŋ;Ѵ;1ঞomĺ
Ɠĺ bőu7bm-u‹!;voѴ†ঞom
 $_-||_;-];Ѵblb|o=ƕƏ‹;-uvu;=;uu;7|obm";1ঞom
ƑƐƏo=|_;olr-mb;v1|oĺƏƕo=ƑƏƏƕv_-ѴѴmo|
-rrѴ‹|o"$‰_o-‚-bm;7|_;-];o=
70 years on 25th December 1986 and that he be
u;Ŋ;Ѵ;1|;7-v- bu;1|ouo=|_;olr-m‹ĺ
bbőu7bm-u‹!;voѴ†ঞom
 $_-||_;-];Ѵblb|o=ƕƏ‹;-uvu;=;uu;7|obm";1ঞomĺ
ƑƐƏo=|_;olr-mb;v1|oĺƏƕo=ƑƏƏƕv_-ѴѴmo|
Ɣĺ $o u;Ŋ-rrobm| ;vvuvĺ umv| ş +o†m]ķ _-u|;7
-rrѴ‹|o&"",&!""‰_o-‚-bm;7
|_; -]; o= ƕƏ‹;-uv om Ɩ|_ ";r|;l0;u ƐƖƖƔ-m7
|_-|_;0;u;Ŋ;Ѵ;1|;7-v- bu;1|ouo=|_;olr-m‹ĺ
bbbőu7bm-u‹!;voѴ†ঞom
ƑƐƏ o= |_; olr-mb;v 1| oĺ Əƕ o= ƑƏƏƕ v_-ѴѴ
mo|-rrѴ‹|o$""&! !+ķ
‰_o-‚-bm;7|_;-];o=ƕƏ‹;-uvomƒu7-m†-u‹
2013 and that he be re-elected as a Director of the
olr-m‹ĺ
ˆbbőu7bm-u‹!;voѴ†ঞom
 $_-||_;-];Ѵblb|o=ƕƏ‹;-uvu;=;uu;7|obm";1ঞom
ƑƐƏ o= |_; olr-mb;v 1| oĺ Əƕ o= ƑƏƏƕ v_-ѴѴ
mo|-rrѴ‹|o"! !ķ‰_o
-‚-bm;7|_;-];o=ƕƏ‹;-uvomƔ|_-m†-u‹ƑƏƐƒ
and that he be re-elected as a Director of the
olr-m‹ĺ
Accountants, as Auditors to the Company and
|o -†|_oubŒ; |_; bu;1|ouv |o 7;|;ulbm; |_;bu
u;l†m;u-ঞomĺ

 $_-||_;-];Ѵblb|o=ƕƏ‹;-uvu;=;uu;7|obm";1ঞom
‹u7;uo=|_;o-u7
ƑƐƏo=|_;olr-mb;v1|oĺƏƕo=ƑƏƏƕv_-ѴѴmo|
-rrѴ‹ |o ! $$$ +!ķ‰_o ˆ;uv;-v!;-Ѵ|‹Ő;‹Ѵomőĺ
-‚-bm;7 |_; -]; o= ƕƏ ‹;-uv om ƐƑ|_rubѴ ƑƏƏѵ
and that she be re-elected as a Director of the
olr-m‹ĺ

bmoh-"ĺ ;um-m7o
Company Secretary

oѴol0oom|_bvƑƓ|_-u1_ƑƏƐѵĺ
Notes
Notes
Notes