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    SFIN.N0000   LK0373N00007

SINGER FINANCE (LANKA) PLC

(SFIN.N0000)
  Report
End-of-day quote Colombo Stock Exchange  -  2022-08-04
10.30 LKR   +3.00%
07/27Singer Finance PLC Reports Earnings Results for the First Quarter Ended June 30, 2022
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06/07SINGER FINANCE LANKA : Annual Report 2021/22
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05/27Fitch Downgrades Singer Finance, Places Four Sri Lankan Finance and Leasing Companies on RWN
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Singer Finance Lanka : Annual Report 2021/22

06/07/2022 | 10:42pm EDT

Singer Finance (Lanka) PLC

Annual Report 2021/22

Singer Finance as a subsidiary of two iconic

business entities with a rich corporate heritage of over 140 years has carved a unique positioning within the financial services sector.

With an impactful market presence of over 18-years, the Company has garnered the trust and confidence of stakeholders through its established track record of performance. As we move ahead strengthened by the solid foundation of our business, we strive to expand and capture a higher market share through diversification of our product portfolio whilst expanding our reach to build financial inclusivity across the nation. This will enable us to consolidate our presence whilst gaining the trust of our stakeholders through our unique value proposition.

Vision

To be the foremost Finance Company in Sri Lanka.

Mission

To provide the most useful and ethical financial services to our customers by creating an experience that builds lasting relationships.

Our Values

Lead with respect

Demonstrate responsibility and integrity

Improve and innovate passionately

Collaborate for success

Respond with agility

Drive sustainability

Singer Finance (Lanka) PLC, a subsidiary of Singer (Sri Lanka) PLC was incorporated on 19th April 2004 to operate as a finance leasing entity within the provisions of the Finance Companies Act No. 78 of 1988 as amended by Act No. 23 of 1991, which was subsequently replaced by the Finance Business Act No. 42 of 2011. With an avowed mission to become the foremost finance company in Sri Lanka, Singer Finance engages in the financing of capital goods, agricultural equipment and

a variety of products marketed by Singer Sri Lanka, and of their own.

About Singer

Finance

SINGER FINANCE (LANKA) PLC | ANNUAL REPORT 2021/22

Contents

Reflections

Group Chief

Chief

from the

Executive

Executive

Chairman

Officer's

Officer's

Review

Review

Pg10

Pg12

Pg14

About this Report

Ÿ

4

A Snapshot of the Company

Ÿ

6

Financial Highlights

Ÿ

7

Non-Financial Highlights

Ÿ

8

Resilience to the Pandemic

Ÿ

9

Reflections from the Chairman

Ÿ

10

Group Chief Executive Officer's Review

Ÿ

12

Chief Executive Officer's Review

Ÿ

14

Board of Directors

Ÿ

16

Senior Management

Ÿ

19

Our Business

Ÿ

23

Value Creation Model

Ÿ

24

Material Matters

Ÿ

26

Stakeholder Engagement

Ÿ

27

Strategic Response

Ÿ

29

Operating Landscape

Ÿ

30

Capital Management Reports

Financial Capital

Ÿ

34

Manufactured Capital

Ÿ

36

Human Capital

Ÿ

39

Social and Relationship Capital

Ÿ

45

Intellectual Capital

Ÿ

49

Natural Capital

Ÿ

53

Corporate Governance & Risk Management

GRI Context Index

Ÿ

56

Independent Assurance Report

Ÿ

58

to Singer Finance (Lanka) PLC

Risk Management

Ÿ

61

Corporate Governance

Ÿ

68

Disclosure Report under Finance Companies

Ÿ

121

Corporate Governance Direction No. 3 of 2008

Board Audit Committee Report

Ÿ

122

Board Nominations Committee Report

Ÿ

124

Board Risk Management Committee Report

Ÿ

125

Board Credit Committee Report

Ÿ

126

Board Remuneration Committee Report

Ÿ

127

Report of the Board Related Party Transactions

Ÿ

128

Review Committee

Auditor's Report on the Directors' Statement on

Ÿ

129

Internal Control over Financial Reporting

Directors' Statement on Internal Control

Ÿ

130

Board of Directors Communication Policy

Ÿ

132

Financial Statements

Financial Calendar - 2021/22

Ÿ

134

Annual Report of the Board of Directors on the

Ÿ

135

Affairs of the Company

Statement of Directors' Responsibility

Ÿ

140

Independent Auditor's Report

Ÿ

141

Statement of Profit or Loss and

Ÿ

146

Other Comprehensive Income

Statement of Financial Position

Ÿ

147

Statement of Changes in Equity

Ÿ

148

Cash Flow Statement

Ÿ

149

Notes to the Financial Statements

Ÿ

150

Parent and Related Companies

Ÿ

220

Ten Year Summary

Ÿ

222

Quarterly Financial Statements

Ÿ

223

Value Added Statement

Ÿ

225

Share Information

Ÿ

226

Glossary of Financial Terms

Ÿ

230

Notice of Annual General Meeting

Ÿ

235

Notes

Ÿ

236

Form of Proxy

Ÿ

237

Shareholder Feedback Form

Ÿ

239

Corporate Information

INNER BACK

COVER

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Singer Finance (Lanka) plc published this content on 08 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 June 2022 02:41:02 UTC.


© Publicnow 2022
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Financials
Sales 2022 3 066 M 8,49 M 8,49 M
Net income 2022 621 M 1,72 M 1,72 M
Net Debt 2022 11 262 M 31,2 M 31,2 M
P/E ratio 2022 4,23x
Yield 2022 6,15%
Capitalization 2 081 M 5,76 M 5,76 M
EV / Sales 2021 4,47x
EV / Sales 2022 4,53x
Nbr of Employees 818
Free-Float 10,4%
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Managers and Directors
Thushan Ayendra Amarasuriya Chief Executive Officer & Executive Director
Banda Sattambige Eraj Thishan Fernando Head-Finance
Mahawaduge Yasalal Perera Chairman
A. G. Iman H. Perera Chief Operating Officer
Suranga Jayaweera Senior Manager-Compliance
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