SMB FINANCE PLC SMB LEASING PLC
ANNUAL REPORT 2021
SMB LEASING PLC | ANNUAL REPORT 2021 | 001 |
Our Mission
Our mission is to be an excellent provider of innovative financial products and services aimed at creating and enhancing the wealth of our society.
Our Corporate
Objectives
To provide an excellent service to our
customers.
To enhance shareholders' wealth by means
of stable and attractive returns.
To develop highly satisfied and motivated employees at all levels who will make an effective and efficient contribution towards the economic development of Sri Lanka.
002 | SMB LEASING PLC | ANNUAL REPORT 2021 |
Contents
Overview
003.....About This Report
004.....Key Highlights of the Year
005.....Chairman's Message
007.....Chief Executive Officer's Message
Management Discussion and Analysis
010.....Economic Outlook & Business Environment
016.....Financial Capital and Review
020.....Direct Economic Value Generated and Distributed
021.....Human Capital Management
027.....Risk Management
029.....Shareholders and Investors Information
Corporate Stewardship
035.....Board of Directors
036.....Corporate Management Team
038.....Corporate Governance and Compliance
042.....Submission of Statutory Return
069.....Annual Report of the Board of Directors on the
Affairs of the Company
073.....Report of the Audit Committee
075.....Report of the Remuneration Committee
076.....Report of the Nomination Committee
077.....Report of the Related Party Transactions Review
Committee
078.....Report of the Integrated Risk Management
Committee
079.....Directors' Responsibility Statement on Internal
Control Over Financial Reporting
080.....Chief Executive Officer's and Finance Manager's
Responsibility Statement
081.....Directors' Responsibility to Financial Reporting
Financial Reports
083.....Financial Calendar
084.....INDEPENDENT AUDITOR'S REPORT
087.....Statement of Profit or Loss and Other
Comprehensive Income
088.....Statement of Profit or Loss and Other
Comprehensive Income (contd.) 089.....Statement of Financial Position
090.....Statement of Changes in Equity - Company
091.....Statement of Changes in Equity - Group
092.....Statement of Cash Flows
093.....Notes to the Financial Statements
Supplementary Information
154.....Five Year Summary - Group
155.....Decade at a Glance - Company
156.....Notice of Meeting - Voting
157.....Notice of Meeting - Non voting
158.....Form of Proxy - Voting
159.....Form of Proxy - Non voting
162.....Circular to Shareholders
163.....Guideline and Registration Process for the
Annual General Meeting (AGM) via Online Meeting Platform
164.....Registration Form
165.....Form of Request
166.....Corporate Information
SMB LEASING PLC | ANNUAL REPORT 2021 | 003 |
About This Report
The Company Profile
SMB Leasing PLC is a Specialised Leasing Company established in 1992 and listed in the Colombo Stock Exchange. The Company operates only in Sri Lanka with the Head Office located in Colombo. The Company is primarily engaged in providing finance leases, mortgage loans, personal loans and gold loans. Corporate information is given on the inner back cover of this report.
Annual Report
The Annual Report comprises reports covering the Company's operations for the financial year ended December 31, 2021. Wherever relevant, the preceding year's performance and indicators have been reflected for comparative analysis.
Reporting Framework
The annual financial statements are prepared in accordance with Sri Lanka Accounting Standards (SLFRS and LKAS) issued by the Institute of Chartered Accountants of Sri Lanka. Financial and non-financial information presented, where applicable, conform to the requirements of the Companies Act No. 7 of 2007, the Finance Leasing Act No. 56 of 2000 as amended by Finance Leasing (Amendment) Act No 24 of 2005 and subsequent amendments thereon, the Listing Rules of Colombo Stock Exchange, the Directions issued by the Central Bank of Sri Lanka and the Code of Best Practice on Corporate Governance issued jointly by the Securities and Exchange Commission of Sri Lanka and the Institute of Chartered Accountants of Sri Lanka.
External Assurance and Test of Compliance
The financial statements were audited by M/s. KPMG, Chartered Accountants and their Report is given on pages 084 to 086 of this report.
Presentation
Printed copies of this report will be posted to only those who request for the same in writing. This report will be made available on the official website of the Company www.smblk.com in PDF format.
Contact
Questions and inquiries on this Annual Report 2021 and information presented therein are to be directed to:
Head of Finance
SMB Leasing PLC,
No 282/1 CBS Building, Galle Road, Colombo 3, Sri Lanka.
Tel: +94 11 4222850
Fax: +94 11 4222889
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Disclaimer
SMB Leasing plc published this content on 01 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 June 2022 03:21:08 UTC.
