Ceylon chamber of commerce ar 11 12

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ANNUAL REPORT 2011/2012

The Ceylon C

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erce | Annual R

eport 2011/2012

The Ceylon Chamber of Commerce50, Nawam Mawatha, Colombo 2www.chamber.lk

Corporate Information

Name of the organizationThe Ceylon Chamber of Commerce

Legal FormThe Ceylon Chamber of Commerce, a Non Profit Organization, is incorporated under Ordinance No. 10 of 1895.

Standing Committee ‘A’Mr. Susantha Ratnayake - ChairmanMr. Suresh Shah - Vice ChairmanMr. Samantha Ranatunga - Deputy Vice ChairmanDr. Anura Ekanayake - Immediate Past ChairmanMr. Harin Malwatte - Secretary General/CEO (by Invitation)Ms. Alikie Perera - Deputy Secretary General/Financial Controller (by Invitation)

Registered Office50, Nawam Mawatha,Colombo 2.

AuditorsKPMG Ford Rhodes and Thornton

BankersHatton National Bank PLCSampath Bank PLCStandard Chartered BankThe Hongkong & Shanghai Banking Corporation Limited

The Ceylon Chamber of Commerce | 1Annual Report 2011/2012

A small but powerful entity that is filled with possibility and initiative, Sri Lanka has been an active and central trade location for centuries. Now, with the economy on the road to success, our work as an intermediary has become more important than ever. Being the voice of a business community that ranges from the entrepreneur to the blue chip, we realize our position as a go-between with the government and the private sector is imperative and has made us a truly inclusive entity in a burgeoning financial system. Sustainable, recognized, permanent; we are making our mark.

makingour

mark

2 | The Ceylon Chamber of Commerce Annual Report 2011/2012

Our MissionTo be the most influential and effective voice of the private sector in promoting an environment conducive to national economic development within a framework of sustainable social equity.

Our Mark of QualityThe chamber maintains the iso standards - iso 9001:2008 and this is sustained throughout the year. This is exemplified by the fact that we were awarded this standard for the year 2011/2012.

To be the benchmark chamber of commerce in the asia pacific region and the driving force in national economic and social development.

Our Vision


Contents

Our MissionTo be the most influential and effective voice of the private sector in promoting an environment conducive to national economic development within a framework of sustainable social equity.

Our Vision -------------------------------------------------------------------------------------------------------------2Our Mission ----------------------------------------------------------------------------------------------------------2Our Mark of Quality ----------------------------------------------------------------------------------------------2Highlights--------------------------------------------------------------------------------------------------------------4Chairman’s Review-----------------------------------------------------------------------------------------------8Secretary General/ CEO’s Review ----------------------------------------------------------------------10Office Bearers and Committee---------------------------------------------------------------------------12Standing Committee ‘A’ -------------------------------------------------------------------------------------14Management Team --------------------------------------------------------------------------------------------16The Chamber Team --------------------------------------------------------------------------------------------18Review of Operations -----------------------------------------------------------------------------------------20The Chamber Voice on Key Issues ---------------------------------------------------------------------21Chamber Services ----------------------------------------------------------------------------------------------24Events-----------------------------------------------------------------------------------------------------------------36Activities of Business Councils---------------------------------------------------------------------------38Projects ---------------------------------------------------------------------------------------------------------------44Achievements-----------------------------------------------------------------------------------------------------51Corporate Social Responsibility --------------------------------------------------------------------------53Sustainability Report -------------------------------------------------------------------------------------------56Corporate Governance----------------------------------------------------------------------------------------58Risk Management Report-----------------------------------------------------------------------------------61

Financial ReportsIndependent Auditors’ Report ----------------------------------------------------------------------------63Balance Sheet-----------------------------------------------------------------------------------------------------64Statement of Income and Expenditure---------------------------------------------------------------65Statement of Changes in Funds -------------------------------------------------------------------------66Cash Flow Statement -----------------------------------------------------------------------------------------67Notes to the Consolidated Financial Statements -----------------------------------------------68Ten Year Summary --------------------------------------------------------------------------------------------89Summary Financials - Balance Sheet------------------------------------------------------------------90Summary Financials - Income Statement -----------------------------------------------------------91Revenue Composition ----------------------------------------------------------------------------------------92Revenue Growth Analysis ----------------------------------------------------------------------------------93Non-Current Assets --------------------------------------------------------------------------------------------94Equity and Reserves -------------------------------------------------------------------------------------------95Stakeholders -------------------------------------------------------------------------------------------------------97

4 | The Ceylon Chamber of Commerce Annual Report 2011/20124 | The Ceylon Chamber of Commerce Annual Report 2011/2012

2011 2011April May June July August September21st

Seminar on Understanding the Amendments to Tax Laws240 Participants

25th

Visit of H.E. Jaime Nualart Sanchez, Ambassador, Embassy of Mexico, New Delhi, India

4th - 6th

Complete Course on “Media Strategies for the Corporate Sector”16 Participants (limited participation)

5th

Discussion on an Overview of India’s Foreign Direct Investment Policy, Exchange Control Regulations and the Special Economic Zone Incentive Scheme30 Participants

1st

Visit of H.E. Bruce Levy, High Commissioner, High Commission of Canada

Visit of H.E. Fawzi Gohar, Ambassador, Embassy of Egypt

Visit of H.E. Christine Robichon, Ambassador, Embassy of France

Visit of H.E. Jens Ploetner, Ambassador, Embassy of Germany

4th - 5th

Sri Lanka Economic Summit 2011280 Participants

4th

CCC Forum for Public Private Sector Dialogue on “An Update on Simplified VAT”240 Participants

12th

Electricity Tariff Revision 2012: Consultation Process and Regulatory Framework110 Participants

25th

15th -16th

Seminar on Export & Import Procedures - “Maximise your opportunities in the Global Market Place”

Session II - Introduction to the Department of Sri Lanka Customs, Goods Valuation, Export Procedures 58 Participants

Session III - Export facilitation, Bonding and Entrepot Trade76 Participants

10th

Visit of H.E. Theresa Cutajar, High Commissioner, High Commission of Malta, New Delhi, India.

11th

National Road Safety Conference*530 Participants

25th

Visit of H.E. Djafar Hussain, Ambassador, Embassy of Indonesia

Launch of Good practice guidelines on environmental management for Sri Lankan hoteliers83 Participants

30th

Visit of H.E. Theresa Cutajar, High Commissioner, High Commission of Malta, New Delhi, India.Visit of H.E. Ton Sinh Thanh, Ambassador, Embassy of Vietnam

* Events Managed on Behalf of Other Organizations

8th

Visit of H.E. Madam Yang Xiubing, Ambassador, Embassy of People’s Republic of China

Visit of H.E. Fabrizio Pio Arpea, Ambassador, Embassy of Italy

Visit of H.E. Hilde Haraldstad, Ambassador, Royal Norwegian Embassy

Visit of H.E. Dr. Victor Chiujdea, Ambassador, Embassy of Romania

Visit of H.E. Geoffrey Doidge, High Commissioner, High Commission of South Africa

Visit of H.E. Kunio Takahashi, Ambassador. Embassy of Japan

Visit of H.E. John Rankin, High Commissioner, British High Commission

17th

Seminar on “The Best Corporate Citizen Award 2011”70 Participants

12th - 13th

Two Day Conference on “Sustainable Biodiversity & Economic Development Conference165 Participants

28th

172nd Annual General Meeting of the Ceylon Chamber of Commerce200 Participants


Session I - Import Procedure, Goods Classification & Harmonised System & Import Procedures77 Participants

Presentation on “Global Economic Developments: Impact on Sri Lanka” by Dr.Razeen Sally, Director of the European Centre for International Political Economy105 Participants

22nd

Seminar on “New Insights into U.S. `Customs Valuation and Enforcement Initiatives: Helping you to enhance your export earnings”28 Participants

30th

Discussion on Swed-Partnership Programme85 Participants

Visit of Ms. Rita O’Sullivan, Country Director, Sri Lanka Resident Mission, Asian Development Bank

Highlights

The Ceylon Chamber of Commerce | 5Annual Report 2011/2012 The Ceylon Chamber of Commerce | 5Annual Report 2011/2012

2011 2011April May June July August September21st

Seminar on Understanding the Amendments to Tax Laws240 Participants

25th

Visit of H.E. Jaime Nualart Sanchez, Ambassador, Embassy of Mexico, New Delhi, India

4th - 6th

Complete Course on “Media Strategies for the Corporate Sector”16 Participants (limited participation)

5th

Discussion on an Overview of India’s Foreign Direct Investment Policy, Exchange Control Regulations and the Special Economic Zone Incentive Scheme30 Participants

1st

Visit of H.E. Bruce Levy, High Commissioner, High Commission of Canada


Visit of H.E. Christine Robichon, Ambassador, Embassy of France

Visit of H.E. Jens Ploetner, Ambassador, Embassy of Germany

4th - 5th

Sri Lanka Economic Summit 2011280 Participants

4th

CCC Forum for Public Private Sector Dialogue on “An Update on Simplified VAT”240 Participants

12th

Electricity Tariff Revision 2012: Consultation Process and Regulatory Framework110 Participants

25th

15th -16th


Session II - Introduction to the Department of Sri Lanka Customs, Goods Valuation, Export Procedures 58 Participants

Session III - Export facilitation, Bonding and Entrepot Trade76 Participants

10th

Visit of H.E. Theresa Cutajar, High Commissioner, High Commission of Malta, New Delhi, India.

11th

National Road Safety Conference*530 Participants

25th

Visit of H.E. Djafar Hussain, Ambassador, Embassy of Indonesia

Launch of Good practice guidelines on environmental management for Sri Lankan hoteliers83 Participants

30th

Visit of H.E. Theresa Cutajar, High Commissioner, High Commission of Malta, New Delhi, India.Visit of H.E. Ton Sinh Thanh, Ambassador, Embassy of Vietnam


8th

Visit of H.E. Madam Yang Xiubing, Ambassador, Embassy of People’s Republic of China

Visit of H.E. Fabrizio Pio Arpea, Ambassador, Embassy of Italy

Visit of H.E. Hilde Haraldstad, Ambassador, Royal Norwegian Embassy

Visit of H.E. Dr. Victor Chiujdea, Ambassador, Embassy of Romania

Visit of H.E. Geoffrey Doidge, High Commissioner, High Commission of South Africa

Visit of H.E. Kunio Takahashi, Ambassador. Embassy of Japan

Visit of H.E. John Rankin, High Commissioner, British High Commission

17th

Seminar on “The Best Corporate Citizen Award 2011”70 Participants

12th - 13th

Two Day Conference on “Sustainable Biodiversity & Economic Development Conference165 Participants

28th

172nd Annual General Meeting of the Ceylon Chamber of Commerce200 Participants


Session I - Import Procedure, Goods Classification & Harmonised System & Import Procedures77 Participants

Presentation on “Global Economic Developments: Impact on Sri Lanka” by Dr.Razeen Sally, Director of the European Centre for International Political Economy105 Participants

22nd

Seminar on “New Insights into U.S. `Customs Valuation and Enforcement Initiatives: Helping you to enhance your export earnings”28 Participants

30th

Discussion on Swed-Partnership Programme85 Participants

Visit of Ms. Rita O’Sullivan, Country Director, Sri Lanka Resident Mission, Asian Development Bank


2011 2012October November December January February March19th - 20th

GRI Certification Course35 Participants

4th

Best Corporate Citizen Award 2011 for CSR & Sustainable Business300 Participants

17th

Visit of H.E. Nobuhito Hobo, Ambassador, Embassy of Japan

24th

Seminar on National Budget 2012170 Participants

1st

CEPA Forum - in association with the National Chamber of Commerce of Sri Lanka70 Participants

World AIDS Day 2011 - A breakfast meeting for CEOs and Chamber members - Keynote Speech by Mr. Kumar Sangakkara200 Participants

5th

Visit of H.E. Williams Nkurunziza, High Commissioner, High Commission of the Republic of Rwanda, New Delhi, India

Visit of H.E. Amadou Moustapha Diouf, Ambassador, Embassy of Senegal, New Delhi, India.

6th

Visit of Mr. George Lin, Director, Taipei World Trade Centre Liaison Office, Chennai, India.

7th

Visit of H.E. Jorge Roza de Oliveira, Ambassador, Embassy of Portugal, New Delhi, India.

18th - 20th

2nd Complete Course on “Media Strategies for the Corporate Sector”23 Participants (limited participants)

20th

Seminar on “Making Sense of the Global Economy for Business & Investment Decisions”

Session I Business Forum80 Participants

Session IIInteractive Workshop50 Participants

26th

Visit of Mr. James Bednar, Mission Director - Sri Lanka and the Maldives, US Agency for International Development (USAID)

12th

Asia Pacific Entrepreneurship Awards 2012 - on behalf of the Sri Lanka-Malaysia Business Council*430 Participants

16th

Visit of Hon. Grant Woodhams, Speaker, Parliament of Western Australia

Visit of Mr. Peter Forby, Regional Director, Government of Western Australia, Trade and Investment Office, New Delhi, India.

20th

Visit of H.E. Pieree Vaesen, Ambassador, Embassy of Belgium


6th

Visit of Dr. Brian Pinto, Senior Adviser in the Poverty Reduction and Economic Management Network, World Bank

13th

Visit of H.E. Dr. Samuel K. Mbambo, High Commissioner, High Commission of the Republic of Namibia in New Delhi, India.

Visit of H.E. Poldej Worachat, Ambassador, Royal Thai Embassy

16th

Visit of Ms. Lakshmi Venkatachalam, Vice-President Private Sector and Co-financing Operations Asian Development Bank (ADB)

22nd

Members’ Forum125 Participants

28th


Highlights



2011 2012October November December January February March19th - 20th

GRI Certification Course35 Participants

4th

Best Corporate Citizen Award 2011 for CSR & Sustainable Business300 Participants

17th

Visit of H.E. Nobuhito Hobo, Ambassador, Embassy of Japan

24th

Seminar on National Budget 2012170 Participants

1st

CEPA Forum - in association with the National Chamber of Commerce of Sri Lanka70 Participants

World AIDS Day 2011 - A breakfast meeting for CEOs and Chamber members - Keynote Speech by Mr. Kumar Sangakkara200 Participants

5th

Visit of H.E. Williams Nkurunziza, High Commissioner, High Commission of the Republic of Rwanda, New Delhi, India

Visit of H.E. Amadou Moustapha Diouf, Ambassador, Embassy of Senegal, New Delhi, India.

6th

Visit of Mr. George Lin, Director, Taipei World Trade Centre Liaison Office, Chennai, India.

7th

Visit of H.E. Jorge Roza de Oliveira, Ambassador, Embassy of Portugal, New Delhi, India.

18th - 20th

2nd Complete Course on “Media Strategies for the Corporate Sector”23 Participants (limited participants)

20th

Seminar on “Making Sense of the Global Economy for Business & Investment Decisions”

Session I Business Forum80 Participants

Session IIInteractive Workshop50 Participants

26th

Visit of Mr. James Bednar, Mission Director - Sri Lanka and the Maldives, US Agency for International Development (USAID)

12th

Asia Pacific Entrepreneurship Awards 2012 - on behalf of the Sri Lanka-Malaysia Business Council*430 Participants

16th

Visit of Hon. Grant Woodhams, Speaker, Parliament of Western Australia

Visit of Mr. Peter Forby, Regional Director, Government of Western Australia, Trade and Investment Office, New Delhi, India.

20th

Visit of H.E. Pieree Vaesen, Ambassador, Embassy of Belgium


6th

Visit of Dr. Brian Pinto, Senior Adviser in the Poverty Reduction and Economic Management Network, World Bank

13th

Visit of H.E. Dr. Samuel K. Mbambo, High Commissioner, High Commission of the Republic of Namibia in New Delhi, India.

Visit of H.E. Poldej Worachat, Ambassador, Royal Thai Embassy

16th

Visit of Ms. Lakshmi Venkatachalam, Vice-President Private Sector and Co-financing Operations Asian Development Bank (ADB)

22nd

Members’ Forum125 Participants

28th




It is with pleasure that I present the annual report of the Ceylon Chamber of Commerce for the year that ended on 31st March 2012.

During last year, Sri Lanka showed an impressive performance in its economy, registering a growth of 8.3% in 2011 with significant contributions from the industry and services sectors. This, despite a weakening global economy, is a noteworthy achievement for an economy that is emerging from three decades of turmoil. The stability, low interest and inflation that prevailed during the year in the aftermath of achieving peace would have undoubtedly contributed to this growth. A disappointing fact though, was the level of FDI. Much needs to be done in this regard if we are to maintain these levels of growth.

However, the policy to defend the currency on the back of expectations of foreign inflows saw the escalation of the trade deficit and depletion of foreign reserves have posed a significant threat to the macroeconomic stability that prevailed during the last two years. The low interest rates and an overvalued rupee led to a significant increase in consumption related imports. The measures taken, among others, by the Government in the first quarter of 2012 to allow the Sri Lankan Rupee to float, increase policy rates, restrict credit growth and adjust the fuel and power tariffs were timely and will help reduce the ballooning trade deficit. These hard but bold steps also saw the IMF releasing the 8th tranche of the Standby Agreement signed with Sri Lanka in 2009. Although the balance of payments situation is still at some risk, it is imperative that we maintain the momentum with a disciplined policy regime to overcome this setback.

The Ceylon Chamber of Commerce has been lobbying for a simplified tax system and for improved trade facilitation for several years. It was heartening to note that the tax reforms that were introduced in the previous year’s budget were retained and in addition, more incentives were offered for investments in the current budget. As the fiscal deficit is expected to worsen following the adjustments made to avert the Balance of Payment crisis, it is hoped that there will be no substantive changes to tax simplification measures introduced previously.

The implementation of the ASYCUDA World at the Sri Lanka Customs is yet another initiative

that has been long awaited and the Chamber has been in the forefront lobbying for automation of operations at the Sri Lanka Customs and for Customs to electronically link with other Government Agencies to reduce transaction costs and time. These are also required if Sri Lanka aspires to become a maritime hub in the future. To take a step further, the Chamber initiated a dialogue with the newly established Private Sector Development Unit of the Ministry of Economic Development to work on identified areas to improve investor facilitation and improve the business climate.

Another much discussed matter in the year under review was the legislation of the Revival of the Underperforming Enterprises and Underutilised Assets Act. It was seen as a deterrent to the country’s strategy to encourage both local and foreign investment in its drive to more than doubling the private sector investments during the next four years. The Ceylon Chamber with other Chambers collectively urged that the Government refrain from introducing such legislation or to delay presentation of the Bill until it was discussed with concerned stakeholders. However, the Bill was passed with minor modifications. The Chamber firmly believes that there should be greater stakeholder consultation and impact assessment prior to introduction of new legislation or implementation of major policy shifts and will continue to lobby on these grounds as in the past.

The Ceylon Chamber notes with appreciation the Government’s emphasis on infrastructure was maintained during the year and some of the projects that had been long delayed such as the Southern Expressway and the Norochcholai Coal power project were completed during the course of the year. These have increased the quality of life for the people by facilitating greater mobility, greater access to utilities etc. In the meantime the Chamber will continue to advocate that the Government create the necessary environment to promote and facilitate Public Private Partnerships in infrastructure development to relieve the budgetary pressures, draw in technical and managerial expertise and build local capacity.

This year the GDP growth rate of the Sri Lankan economy is expected to be moderate with continued slowdown in both the advanced and emerging economies. IMF has cautioned that this

Chairman’s Review


slowdown may be heightened if the euro zone crisis aggravates and/or if the oil prices increase substantially due to geopolitical pressures. Certainly there are several global challenges to be overcome apart from the balance of payments and fiscal issues in maintaining the economic progress which we have experienced since the hard won peace. The Chamber is committed to working tirelessly in promoting Sri Lanka as an attractive investment destination and in promoting our exports. As the leading business chamber in the country, the Ceylon Chamber will also continue to work with other Chambers in matters of national importance and in conveying the views of the private sector to enable the Government in making informed decisions in order that Sri Lanka achieves its true potential.

Susantha RatnayakeChairman


Secretary General / CEO’s Review

It is an honour and privilege to make this contribution to the Annual Report of the Ceylon Chamber of Commerce. Over the last 173 years, the Chamber has made its mark as the premier Business Chamber in our country by being innovative, proactive, relevant and forging an inclusive approach in providing services to our members and stakeholders. The Chamber has been able to maintain a leadership position and earn the respect of all members and other stakeholders and through this approach, has been able to muster the support of all major business support organizations to come together and make collective representations to the Government on matters of national importance.

As the voice of the business community in the country, we have paid much attention to understanding the macro and micro issues relating to our membership, the Associations and Business Councils. To further this goal, a new structure came into place during the period under review to bring in our Business Councils, Approved Associations and Affiliated Regional Chambers for regular meetings. Through this process we were able to proactively identify issues confronting our stakeholders and work towards resolving them.

During the year under review, the Chamber introduced a number of new Steering Committees to address sector specific issues in addition to the existing Steering Committees. These committees, with the participation of the connected Business Leaders, representatives from Trade Associations and Government Agencies created the right mix of knowledge and experience to keep abreast with both strategic issues and operational issues. Our positions on specific and sectoral issues were established and articulated through thoughtful and nuanced analysis by these committees. Some of the issues considered by the committees included the positions on the proposed private sector pension bill, underperforming institutions and unutilised assets bill, LLRC recommendations, private public partnerships and taxation, to name a few.

Integration of rural business entities to contribute to the national economy was also high on the agenda of the Chamber. Using the Regional Chambers as the platform, the Ceylon Chamber embarked on a concerted effort of sharing information, building capacity, and promoting business for reconciliation through a range of activities that are explained in the Chamber review. Making full use of the positive environment created by the ending of the three

decade long conflict, integrating the North and East regions continued to be high on the agenda over the past year. Towards this, the Chamber partnered with a number of international and other institutions working in the North and East as well as other Districts to promote regional business development.

The year under review saw a considerable change in the communications strategy of the Chamber. Adapting to trends in new media and keeping in line with the changing times, the Chamber joined a number of social media platforms to reach out to the external world. The Chamber also expanded its reach through understandings with overseas business partners and sharing information with business updates, economic news and events with a view to promote trade, investments and tourism.

We remained the preferred stop-over contact point for every business delegation and business mission that visited the country. Much of our resources were devoted towards improving trade facilitation, enhancing the ease of doing business and encouraging a process to reduce transactional costs and time.

It is an honour to the Chamber that we were the preferred partner on a number of international consultancies such as the USAID, World Bank, ADB and the GIZ. The UN ESCAP chose the Chamber to co-host the Asia Pacific Trade Facilitation Forum 2012 and it is noteworthy that it is the first time that this important forum is being hosted by a South Asian country and that a business support Non-Governmental Organisation has been given the honour of co-hosting this event.

In recognition of the services of the Ceylon Chamber of Commerce to our country in commerce over the years, we were awarded the Global Commerce Excellence Award for 2011. We also won the Gold Award at the prestigious ICASL Annual Report Awards 2011 in the not-for- profit/NGO category and received a Merit award from the South Asian Federation of Accountants for the Best Presented Accounts, thus demonstrating our high standards in accounting, transparency and governance.

The Chamber also organized our two flagship events, namely the Sri Lanka Economic Summit and the Best Corporate Citizen Award, which is regarded as the most prestigious business award in the country.


As another year unfolds for the Ceylon Chamber of Commerce, we look forward to enhancing the global competitiveness of our country. To that end, the Sri Lanka Economic Summit 2012 will focus on the theme “Positioning Sri Lanka in the Global Economy”.

The Chamber has coped with the ever increasing demand for information and services and has gladly accepted these challenges and committed ourselves to being the accepted voice of business in the country, earning the respect of our members and stakeholders, both locally and internationally.

I take this opportunity to thank the Chairman and Standing Committee ‘A’ for their guidance throughout the period under review. Their unstinted support has enabled us to be relevant and effective. I would also like to extend my sincere thanks to the Committee of the Ceylon Chamber of Commerce, Heads of Trade Associations, Business Councils, Regional Chambers, Steering Committees and other diverse partner agencies that supported the Ceylon Chamber of Commerce throughout the year.

Our project arm, CCC Solutions (Pvt) Limited, continued its excellent work, completing another successful year and my sincere gratitude goes to the leadership, its Managing Director and dedicated staff.

Retaining our standing for yet another year as the premier Business Chamber in Sri Lanka that provides invaluable service to the business community and stakeholders through its diverse services and activities would not have been possible without the Chamber Secretariat. It is the collective and committed effort of the professional and experienced staff of the Chamber who went beyond their call of duty that make the successes of the Chamber possible. My sincere gratitude is extended to each and every one of them.

Harin MalwatteSecretary General/CEO

Thursday, 10 May 2012


Office Bearers and Committee

From Left:

1st RowMr. Harin Malwatte, Deshamanya Deva Rodrigo, Mr. J D Bandaranayake, Mr. G S Chatoor, Mr. Suresh Shah, Mr. Susantha Ratnayake, Mr. Samantha Ranatunga, Dr. Anura Ekanayake, Deshamanya C P de Silva, Mr. Mahen Dayananda, Ms. Alikie Perera

2nd RowMs. Gayathri Gunaruwan, Mr. Chandra Vithanage, Mr. Manjula de Silva, Mr. Ronnie Peiris, Ms. S Sivayogarajan, Mr. Rizvi Zaheed, Ms. Dawn Austin, Prof. L R Watawala, Mr. Husein Esufally, Mr. Stuart Chapman, Mr. Priyantha Malavi, Mr. Prema Cooray, Ms. Saroshi Dubash


3rd RowMs. Ayoni Waniganayake, Mr. Ramal Jasinghe, Ms. Lilakshini De Mel, Mr. Randolph Perera, Mr. Kamal Jayantha Yatawara, Mr.Charitha Ratwatte, Mr. Sunil Poholiyadda, Mr. Anushman Rajaratnam, Mr. Mahesh Wijewardena, Mr. Krishan Balendra, Ms. Premila Perera, Mr. Udaya de Silva, Mr. Vish Govindasamy, Mr. Mohan Pandithage, Mr. Rohan Tudawe, Ms. Vidyani Hettigoda

4th RowMr. Asite Talwatte, Mr. N R Gejendran, Ms. Varuni Silva, Mr. Suresh Pathirana, Mr. Kanishka Weerasinghe, Mr. Sarath Sirisena, Mr. Sujeewa Mudalige, Mr. Ravi Dias, Mr. Saifuddin Jafferjee, Mr. S A Cader, Mr. J Kehelpannala, Mr. Pravir Samarasinghe, Deshamanya Tilak Gunasekera, Mr. Sunil G Wijesinha, Mr. Rajan Brito, Mr. Nishaman Karunapala, Mr. Gamini Gunasekera, Mr. Kevin Edwards.


Standing Committee ‘A’From Left:Mr. Suresh Shah - Vice Chairman, Mr. Harin Malwatte - Secretary General/CEO, Mr. Susantha Ratnayake - Chairman, Mr. Samantha Ranatunga - Deputy Vice Chairman, Ms. Alikie Perera - Deputy Secretary General/Financial Controller, Dr. Anura Ekanayake - Immediate Past Chairman



Management TeamSeated From Left: Ms. Gayathri Gunaruwan, Ms. Lilakshini De Mel, Ms. Alikie Perera, Ms. Ayoni Waniganayake


Standing From Left: Mr. Suresh Pathirana, Ms. Thilini Kahandawaarachchi; Mr. Harin Malwatte, Mr. Chadra Vithanage,Ms. Varuni Silva, Mr. David Jansze


The Chamber TeamThe Chamber continues to strengthen its staff cadre to meet the needs of its client base through multi skilled and dedicated staff. The Chamber takes pride in its team of employees, in each respective work group, as they possess the potential and confidence to venture into new projects and meet the challenges and changes of the business environment.

Investing in training and development through a series of training programmes, seminars and workshops both locally and internationally, the Chamber provides its team members exposure to best practices, standards, systems, processes and

new ideas, which also give the Chamber impetus to serve its membership better.

During the year under review, a new Performance Evaluation System was introduced to cover some key elements of the system in the form of broad guidelines to Appraisers, for the purpose of applying the system in a consistent manner to achieve maximum benefits and expectations. The Performance Evaluations were carried out to discuss details related to Performance Management and Staff Motivation.


From left

1st RowDavid Jansze, Varuni Silva, Prema Cooray, Chandra Vithanage, Alikie Perera, Harin Malwatte, Lilakshi De Mel, Suresh Pathirana, Ayoni Wanignayake, Gayathri Gunaruwan, Thilini Kahandawaarachchi

2nd RowSampath Wijesooriya, C L Mapatuna, Sandun Gomes, P G Sirisena, W M Jayantha,Vartharajah Kumaraguru, Pradeepa Costa, Dimuthi Eranthi, Cherryl Rodrigo, Chamini Wijeratne, Surath Deraniyagala, Anojan Selvanathan, Satheeka Kavisekera, S Arumugam

3rd RowS Prabu, K Bandularatne, Yasmin Gomez, Kamani Bartholomeusz, A Michael, Kumudini Udawatte, Ushendrini Amarasinghe, Sunil Perera, Gayathiri Arwind, Hasitha Jayamaha, Thilini Wijesinghe, Chathurika Dissanayake, L Padmasiri, Manjula Maldeniya, Darshi Costa, Lakshika Perera

4th RowJagath Rohana, Sumith Chandraweera, Chathuranga Samarasekera, K N Perera, Rachel Clements, Anura Uduwelawatte, Subhashini Abeysinghe, Shehan Hettige, Poornima Wickramasinghe, Michelle Dilrukshi, Sriyani Chandrasekera, Navodha Gimhani, Vinesh Jayalingam, Indika Kariyawasam, Shazna Silmy, Dulara Samarasinghe, M B M Inshaf

5th RowBernard Perera, Sarath Wimalaweera, Manoj Wickramarachchi, Nilan Thimbiripola, Gerry Suraweera, K Selvaraj, Sarath Edirisinghe, Wesley Haththotuwa, Khema Wijegunawardena, Nisansala Perera, Gillian Nugara, Manori Dissanayake, Rohan Casie-Chetty


Review of OperationsWith many projects and events under our purview as well as providing various services for a variety of business-related matters, The Ceylon Chamber of Commerce has been tireless in living up to its name as an effective and dynamic spokesperson in Sri Lanka. Presented herewith is the review of operations for the year.


The Chamber Voice on Key Issues

Revival of Underperforming Enterprises and Underutilized Assets Act No 43 of 2011The above Act was passed in parliament as an urgent bill on November 9, 2011. The Act identified 37 businesses/assets to be brought under Government control. Upon being apprised of the above Bill in end October, the Ceylon Chamber of Commerce (CCC) initiated meetings with the Joint Chambers, Trade Union representatives and the Organization of Professional Associations to discuss the implications of the Bill and modalities for lobbying with the Government. In addition the Chamber also met with the past Chairmen of the Chamber to seek their views. All organizations were of the uncontested view that the Bill will be detrimental to the economy as it will undermine investor confidence, particularly when the country had acquired a huge opportunity to develop the economy after terminating a three decade long war. The private sector also strongly felt that there was no need to introduce a new law when the Government can use existing legislation to take over unutilized assets.

Meanwhile, based on the views expressed by the representatives of the Joint Chamber organizations and in consultation with legal experts, the Chamber compiled an amended draft Bill in the event the Government decided to proceed with passing the Bill. CCC along with representatives from other Chambers and private sector organizations met with His Excellency the President at Temple Trees on November 5, 2011 to present the concerns of the private sector and to request that the Bill be either withdrawn or be deferred. The private sector made their representations. On November 8, 2011 the joint chambers wrote to H.E the President and the

Minister of Economic Development urging them to consider postponing the enactment of the Bill and to consider appointing an independent panel to discuss with the affected parties and work out a way forward. Despite these efforts the Bill was passed in Parliament.

Thereafter, following a recommendation made by the Economic, Fiscal and Policy Planning Steering Committee of the Chamber, the Standing Committee ‘A’ appointed a special committee to ascertain the implications of the Revival of Underperforming Enterprises and Underutilized Assets Act and identify strategies to mitigate the adverse impact. The Special Committee at the end of its discussions recommended to the STC ‘A’ that there is little that can be done to reduce the ill effects of the Act except for inviting the going concerns in the Schedules I and II to the Act to submit proposals within a stipulated time frame to revive the enterprises and appointing a independent committee to review such proposals. More importantly to avoid such situations in the future the Committee recommended that in future the Government should constantly engage the private sector and allow them to perform a proactive role prior to presenting bills to parliament for approval. The Ceylon Chamber together with the joint Chambers made a submission to His Excellency accordingly requesting that due process be followed to have effective legislation that will facilitate economic development with requisite regulations.

The Ceylon Chamber together with the joint Chambers made a submission to His Excellency accordingly requesting that due process be followed to have effective legislation that will facilitate economic development with requisite regulations.


Proposed India – Sri Lanka Comprehensive Economic Partnership Agreement (Indo Lanka CEPA)India – Sri Lanka CEPA proposed in 2002 is the first trade agreement negotiated by Sri Lanka that includes trade in services and investment in addition to trade in goods. The Agreement was to be signed in August 2008, but was postponed due to reservations expressed by certain segments on the merits of the agreement and the transparency of the negotiating process. In 2011 the Government appointed an Inter-Agency Committee comprising of representatives from key Government Institutes to re-look at the Agreement and to hold consultations with the relevant stakeholders. The Ceylon Chamber of Commerce is of the view that from a country perspective that India is an emerging market that Sri Lankan businesses need to penetrate into and an official, legally binding agreement will facilitate such entry.

In order to facilitate a constructive dialogue between the private sector and the Government as well as to bring together business leaders with divergent views on the Agreement the CCC organized a forum to discuss concerns and interests of the business community on the Agreement in November 2011 and this was a great success. The CCC plans to have several meetings of this nature to encourage constructive discussions between the private sector as well as between the private sector and the public sector in order to facilitate drafting an agreement that takes into due consideration the views of the business community.

Asia Pacific Trade Facilitation Forum (APTFF)The Asia Pacific Trade Facilitation Forum (APTFF) is a high profile annual open regional event launched jointly by the United Nations ESCAP and Asia Development Bank (ADB) since 2009. It is an event at which countries exchange information, experiences and practices for trade facilitation in the Asia Pacific region, identify priority areas for regional co-operation and integration and learn

about new tools and services which can increase the efficiency of cross border transactions that will ultimately improve the competitiveness of firms in the region.

Trade facilitation is key to make Sri Lanka the “Gateway to South Asia” and the commercial, naval and aviation hub in Asia and an economic centre in the world. At a time when the Government is committed to take measures to further facilitate trade, having an event of this nature will further boost the Government’s efforts. Sri Lanka will be the first South Asian country to host this event and the Ceylon Chamber of Commerce the first Private Sector organization to co-host the event. Previous events have been held in Bangkok, Thailand in 2009, in Kuala Lumpur, Malaysia in 2010 and Seoul, Republic of Korea in 2011 in partnership with relevant Government Agencies.

Realizing these many benefits, the CCC expressed its interest to co-host APTFF 2012 in Colombo with the endorsement of the Ministry of Industry and Commerce. Our bid has been accepted and the Ceylon Chamber of Commerce would be co-hosting the APTFF with the UN ESCAP in 2012. The event is scheduled to be held on October 2-3, 2012 in Colombo.

Export/Shipping Related Issues Exporters look at the reliability of shipping and air line services at the most competitive price. They also need a faster document processing system with less hassle irrespective of the number of documents to be processed. They also prefer e-based, paperless environment enabling them to ship their goods on time in an efficient manner. In this setting, the relevant government authorities need to create a conducive environment for the exporters where they could compete in the global market with less constraints and cost.

Further, the shortage of cargo worthy equipment/containers, port congestions, sudden disruptions/strikes by other shipping support services are worrying factors for exporters to operate with

The Chamber Voice on Key Issues


confidence. Having a firm and more predictable exchange rate is also a vital criteria for exporters to operate well and be profitable so that they can make higher and better investments in their businesses for future developments. Other infrastructure facilities such as duty free zones with easy administration controls, better road networks to ports and airports are important factors for the industry.

The relevant government authorities need to create a conducive environment for the exporters where they could compete in the global market with less constraints and cost.

Proposed amendments to the ETF ActA cause of concern was the amendments to the ETF Act which widened the scope of the definition of ‘Employer’ and to bring in Directors into the scope of the definition, which has been vehemently opposed by the EFC in its submission. A consistent definition of ’Employer’ already existed in the labour statute. The amendment also makes Directors and Officers liable for payment of ETF in the event of liquidation, which violates the fundamental principle of Company Law and the concept of incorporation. EFC shared its submissions with the Business chambers.

Re-introduction of the Private Sector Pension SchemeThe proposed amendment bill presented and passed in Parliament was challenged and deliberated at the National Labour Advisory Council (NLAC). The main issue of concern was a provision in the Bill, which empowered the Commissioner of Labour to introduce a pension scheme. After strong objections raised by the Trade Unions in this regard, the Minister agreed to omit this provision.

Plantation Workers Collective AgreementThe Plantation Wage Agreement was revised in 2011 for a period of 2 years. Some Regional Plantation Companies (RPCs) have found it extremely difficult to sustain, especially in view of the difficulties that prevailed in the industry in the recent months. The EFC along with the companies are currently studying some of the options available to explore possibilities of looking at a new model that could be negotiated with the unions.


Chamber Services

Mark of QualityThe Chamber maintains the ISO standards - ISO 9001:2008 and this was sustained throughout the year.

Regional Blog (www.regionalblog.chamber.lk )The Regional Enterprise Development Initiative (REDI) is a web-based portal for interaction and information sharing. REDI provides a space to support sustainable regional business development, fulfilling a need of the regional business communities. Business development and regional economic growth that are inclusive and address some of the challenges of growing business require access to information, capacity development of the SMEs and understanding of socio-economic conditions for business and sustainable growth. The information platform should be accessible in local language preferences serving a wider section of the regional business community who are in search of such information.

For potential investors and partners, access to information and regional business communities together with challenges and opportunities provide greater interest. It supports the development of projects that accommodate and build on the potential and strengths that already exist in the regions.

The Economic Intelligence Unit (EIU)A key objective of setting up the Economic Intelligence Unit was to equip the Chamber with in-house capacity in the preparation of submissions to the Government on various issues that impede private sector development and to conduct research/create awareness among the private sector on current and future developments. Over time, the unit has expanded its scope of activities to provide a better service to the Chamber membership.

During the year under review, the EIU continued to work closely with the Chamber steering committees to prepare necessary documentation and material for advocacy functions initiated by the Chamber. The main areas of focus by EIU are macroeconomic policy, trade and investment, power & energy and taxation. The unit liaises with

relevant Government agencies to follow-up on progress in implementation of submissions to the Government and on proposed policy changes.

Encourage Private Sector investments on infrastructure development by publishing a project pipeline for private sector investment and establishing an efficient institutional framework to promote Public-Private-Partnerships

The EIU co-ordinates the activities of the Steering Committees on Economic, Fiscal and Policy Planning, Taxation, Power & Energy, Exports and the Advisory Council. It also assists in the organization of the Sri Lanka Economic Summit.

With the expansion in the scope of functions, the Unit has ventured into providing consultancy services to the private sector and to Non-Government Organizations. The EIU compiled a position paper for the Lanka Fruits and Vegetable Producers, Processors and Exporters Association with members of the association, highlighting the potential of the sector and bottlenecks for progress to lobby with the Government on addressing the key policy constraints. This paper has since been used by the Association to resolve some of the constraints faced by the sector.

A Private Sector Assessment was conducted for the Asian Development Bank to review the potential for Public-Private-Partnerships for their Country Partnership Strategy. The EIU also conducted a study on Promoting South Asian Regional Economic Co-operation: Trade in Services for Sri Lanka for the ADB. The proposal submitted by the EIU to the World Trade Organisation to seek funding to upgrade the standards in the Fruits and Vegetable sector has also been accepted by the WTO.

With the substantial increase in imports of vehicles to Sri Lanka during the year 2011, the Unit’s publication on “Vehicle Imports to Sri Lanka


in 2011” was a much sought after document by the vehicle trade industry as well as the financial sector in Sri Lanka.

The Economic Intelligence Unit worked closely with the panel of evaluators and the panel of judges in the preparation of the Best Corporate Citizen Award applications for 2011 and the Awards for Best CSR Projects 2011, assisting the evaluation panels in evaluating the applications and in finalizing the awardees.

Keeping in line with the objective of informing and continuously updating the private sector, the EIU initiated the following seminars during the year:

CCC Forum for Public Private Sector Dialogue • on “An Update on Simplified VAT”

Presentation on “Global Economic • Developments: Impact on Sri Lanka” by Dr.Razeen Sally, Director of the European Centre for International Political Economy

Seminar on National Budget 2012•

Seminar on Understanding the Amendments • to Tax Laws

Breakfast session and Investor Workshop • on Making Sense of the global economy for investment decision making by. Dr. Howard Nicholas

Budget 2012The Sri Lankan economy continued to demonstrate robust growth in 2011. The termination of the three decade war, political stability, the Government’s efforts to initiate major infrastructure projects to stimulate economic activity and improvement in macroeconomic fundamentals have had a significant positive impact on the business confidence and investor outlook. This was reflected in Sri Lanka’s ranking in some of the global surveys such as the Global Competitiveness Report, where Sri Lanka’s ranking improved from 62 in 2010/11 to 52 in 2011/12. The Business Outlook Survey conducted by the Chamber in July 2011, just prior to preparation of the Chamber’s Budget submissions to the Government, showed that 62% of the respondents have confidence that there will be an improvement in the business environment in Sri Lanka. Despite the improved perceptions on the business environment, private sector investments continued to fall short of expectations.

The Chamber submissions for the National budget had two components: policy issues and tax proposals. Under policy issues, the focus was on the need to address some of the bottlenecks that hampered private sector investments:

Formulate and publish an investment • guide, outlining a step by step clearance by regulatory agency including the approval process for strategic investments.

Strengthen capacities of relevant agencies • to provide necessary information to potential investors, to expedite investment approval and to expedite implementation of projects with a one stop concept preferably at the BOI.

Introduce necessary amendments to the BOI • law and appoint a permanent Director General to the Board of Investment.

To ensure that necessary support services • continue to be extended to existing BOI companies which are also a main source of future investments.

Introduce a well structured and clear • procedure to identify and release land expeditiously to private sector investors.

Encourage Private Sector investments on • infrastructure development by publishing a project pipeline for private sector investment and establishing an efficient institutional framework to promote Public-Private-Partnerships.

Harmonization of laws and regulations with • national economic objectives.

Reforms to labour regulations.•

Legislate anti dumping regulations.•

Expedite higher education reforms.•

Development of capital markets to mobilize • funds for investments.

In view of the slow recovery of the Global economy and the sensitivity of Sri Lanka’s exports to the growth in Western economies and with Asia fast emerging as the centre of world economic growth, the Chamber also emphasized on the need to support the export sector. This is further accentuated given the crucial role played by exports in meeting the national growth targets and ensuring macroeconomic stability.


On taxation, considering the tax policy announced in budget 2011 as the medium term tax policy framework of the Government and in recognition of the need to enhance Government revenue, the Chamber restricted its tax proposals mainly to three areas: towards further simplification of last year’s tax proposals, proposals to encourage exports and investment.

Business Outlook SurveyThe Economic Intelligence Unit of the Ceylon Chamber of Commerce initiated a Business Outlook Survey in April 2011 with the intent of obtaining an independent assessment of the current and emerging trends in the global and Sri Lankan economy. During the year the EIU conducted 3 surveys in April, July and December 2011. The survey was addressed to business leaders from key business sectors in Sri Lanka covering Agriculture, Industry and Services. The Outlook was defined as the “next 12 months” and it captures perceptions on the global economic outlook, the Sri Lankan economic outlook, expectations on changes in cost of production, exports and investments. Additionally, it attempted to obtain the pulse of the business community on the challenges encountered by corporates in Sri Lanka.

The survey results were published on the Chamber blog (and can be accessed via http://chamberblog.chamber.lk/).

Trade CellThe Trade Cell of the Ceylon Chamber comprises of a pool of resource persons kept on standby as experts to be consulted on trade and tariff related matters and to be nominated as Chamber representatives to relevant trade and tariff related forums. The Economic Intelligence Unit co-ordinates the Trade Cell activities with the members of the Trade Cell and keeps them informed on the relevant issues and developments. From time to time the Economic Intelligence Unit was in touch with the nominated experts to obtain their views when making specific submissions to the Government on trade related matters.

Foreign Trade Information The Foreign Trade Information Division (FTID) continues its function of positioning itself as a

focal point providing extensive support to the business sectors in Sri Lanka. During the past year, the division has diversified its infinite support through the Chamber Blog which holds comprehensive information based on Economic and Market Intelligence.

The division released the latest CD version of the directory of members 2011/2012 capturing contact details of more than 500 members along with information on a wide-range of business groups. It also publishes annual sector reports mainly on commodities and other sectors, including detailed analysis on sector trends, emerging markets and concessions. During the period under review, the country statistical reports of 75 countries were released. The division is competent to compile a variety of statistical information on countries based on the requirements of customers. Contact information of a large number of businesses, both local and international could also be obtained from the Foreign Trade Information Division.

The bulletins Business Contacts Sri Lanka & Business Opportunities, containing contact information of all local exporters, importers, services, joint ventures, foreign buyers and sellers, tender notices and trade exhibitions were published for subscribers who intend to do business locally and internationally. The division also had a stall at the Economic Summit 2011.

GS1At GS1, our vision is a world where goods and information about them move efficiently and securely for the benefit of businesses and improvement of people’s lives, every day and everywhere.

GS1 is an integrated system of global standards that provide accurate identification and communication of information regarding products, assets, services and locations. It is the most implemented supply chain standards system in the world and the most accepted standard for supply chain management which has been in operation for the last 30 years. The Ceylon Chamber of Commerce is the sole authorized body in Sri Lanka to operate the GS1 standards system.

GS1 standards bring together companies representing all parts of the supply chain -

Chamber Services


manufacturers, distributors, retailers, hospitals, transporters, customs organizations, software developers, local and international regulatory authorities and more. GS1 standards are used by a large number of multinational organizations and by small corner shops, by famous brands and by individual craftsmen.

In Sri Lanka, over 1,000 companies are registered with GS1 to obtain barcodes. Our members range from small businesses to multinational organizations. GS1 Sri Lanka is dedicated to the design and implementation of global standards and solutions to improve the efficiency and visibility of supply and demand chains in Sri Lanka across sectors.

LegalThe Chamber Legal division, apart from providing legal services to the Chamber, also provides services to the affiliated associations and business councils where possible. The Legal division also co-ordinates steering committees on Arbitration & Mediation, Banking & Finance, Legislation, Insurance, Consumer Affairs and the Food Interest Group of the Chamber.

The Ceylon Chamber of Commerce as the apex chamber of commerce in the country recognizes the needs of the corporate community and the advantages of an Alternate Dispute Resolution (ADR) system. It was the pioneer to introduce an institutionalized Commercial Arbitration facility for dispute settlement as an effective alternative to litigation.

The CCC has formulated its own rules for arbitration which is called “The Ceylon Chamber of Commerce Rules for Arbitration” and facilitates and functions as a co-ordinator and registrar, and also renders secretariat services for Arbitration.

The Chamber Legal division annually hosts the “Corporate Legal Counsel Forum” which is an annual seminar dedicated to keeping the legal fraternity, especially the corporate legal counsels updated on the trends and improvements in the corporate legal field.

Public RelationsThe Public Relations Division continued its activities for the Ceylon Chamber of Commerce to make its mark as the premier business

chamber and also to create media visibility for the Chamber, its Business Councils, affiliated associations and projects. Press releases and statements were publicized in print and electronic media on a regular basis to keep the stakeholders as well as the general public informed of news, events and the work that the Chamber undertakes.

The workshop on Media Strategies for the Corporate Sector which was commenced last year continued in the year under review and two workshops were held in May 2011 and January 2012.

The Public Relations Division also restarted printing the Chamber newsletter “Enterprise”, which was established as way back as 1967. The newsletter, which was hitherto published quarterly in the e format is now released as a monthly publication posted to all the members, regional chambers, business councils, associations, embassies and other stakeholders.

The Chamber website at www.chamber.lk was revamped to give a new look and a number of user friendly features. Keeping up with the changing times and trends, the Ceylon Chamber of Commerce also joined a number of social media sites. Real-time updates on Facebook, Twitter and LinkedIn, have resulted in increased awareness and visibility of news and events of the Chamber.

Documents Registration Documents Registration Division provides the following services:

Registration of Commercial Documents/ • Electronic Issuance of e-CO/ Authentication of Saudi Visas

Appointment of Chamber Surveyors and • Assessors/ Handbook on Panel of Surveyors & Assessors

Auctions (Tea/ Rubber/ Sundry Produce) - • Issuance of Auction Passes/ Lot Money/ Rubber Sale Order/ Rubber Prices/ Rubber Sample Room

Overseas Training Programmes & • Scholarships

Publishing Chamber Calendar•


Registration of Commercial DocumentsBeing the pioneer organisation authorized by the Secretary of State for the Colonies in 1925, to issue certificates of origin (C/O) in Sri Lanka, the Commercial Documents Registration Division (CDRD) of the CCC which was set up for this purpose, has now completed 86 years.

CDRD plays a pivotal role among the range of services provided by the CCC to the Sri Lankan business community at large.

The fully secured online system was launched in July 2007 by the CCC. Whereby, Electronic Issuance of Certificate of Origin (e-CO) allows exporters to send the documents electronically, directly from their PCs via the Internet to the Chamber. The registered certificate is kept ready for the Exporter to collect, on his way to the Bank.

Vital commercial documents such as Certificates of Origin, Commercial and Freight Invoices, Agency Agreements, Survey Reports, phytosanitary and health certificates, Certificates of beneficiaries, authentication of Saudi Visas, to name a few, are registered by this division.

A fully secured online system was launched in July 2007 by the CCC. Further, Electronic Issuance of Certificate of Origin (e-CO) allows exporters to send the documents electronically to the Chamber. The registered certificate is kept ready for the Exporter to collect, on his way to the Bank.

Appointment of Chamber Surveyors and Assessors(Quality Surveys – Export Cargo Surveys)The Chamber retains panels of Surveyors for

various commodities, products and ship surveys (to ensure that the cargo is stowed in a proper manner aboard the ship).

Whenever a buyer from overseas requires an assurance about the quality of cargo exported from Sri Lanka, a survey can be carried out by a Chamber surveyor and the report registered by the Chamber

Survey Reports on damaged cargo for purposes of insurance claims are also registered. The Chamber also retains Panels of Surveyors for import cargo.

Auctions The tea, rubber, spices and allied produce auctions are conducted under the Chamber by-laws and conditions of sale. The tea auction, the largest single origin tea auction in the world is administered/managed in consultation with the Colombo Tea Traders’ Association.

An entry permit issued by the Chamber is required to enter the auction room.

Overseas Training Programmes & ScholarshipsDuring the year under review the Chamber nominated members for overseas training programmes offered, funded and implemented by the Asian Productivity Organisation & Ministry of Technology & Research.

These programmes assisted our members to acquire knowledge and competency in subjects such as Training Course on the Food Safety Management System ISO2200:2005 for Auditors/Lead Auditors and Training Course on Standardization for South Asia “Quality Infrastructure for Sustainable Development (QUISP)” too was offered to the members under overseas training programmes.

Chamber Calendar The CCC calendar which has established itself as a very useful guide to the business community in Sri Lanka, serves as a ready reckoner to various categories of holidays observed in Sri Lanka. It is a handy table top with the calendar on one side with holiday indicators and the complete categorized, detailed list of holidays on the reverse.

Chamber Services


LibraryThe minutes and circular files of the CCC, associations, business councils and government gazette notifications were maintained in a vacant space at the Chamber. Eventually it was transformed into a library when it gradually increased its collection of reading material. At present the library is managed by the Foreign Trade Information Division and consists information relevant to the business community and also serves as a platform for research and academic purposes. The library is equipped with foreign trade directories, annual reports, business/economic and law related publications, articles and magazines. Furthermore, it collects all Government Acts, gazette notifications, newspaper articles on a range of sectors, countries and market intelligence reports on several products. The library annually releases the index to the legislative enactments of Sri Lanka and also releases information on current/ important government gazette notifications/acts to the members. The library is open for reference and photocopies are provided at a nominal rate on request.

Steering Committee RepresentationsFormation of Sectoral/Industry based Steering CommitteesThe Chamber with a view to address cross cutting issues and to prevent Associations and the Chamber from working in isolation decided to form Sectoral/Industry based Steering Committees in addition to the existing Steering Committees. These Committees are expected to deliberate sectoral issues and to present their proposals and recommendations to the Committee at monthly meetings. The Chamber Committee thereafter, deliberates and determines the Chamber’s stance and requisite strategies to be adopted, to address the identified sectoral issues. The Steering Committees are comprised of industry leaders from relevant Trade Associations affiliated to the Chamber, experts in the trade and officials from relevant Government organizations, identified by the Chamber, taking into consideration, their expertise and incisive knowledge to contribute towards fulfiling the mandate of the Steering Committees.

Advisory Council • Mr. Kumar Jayasuriya (Chairman) Agriculture & Livestock • Mr. Rizvi Zaheed (Chairman) Arbitration & Mediation • Mr. R. L. Juriansz (Chairman) Code of Ethics • Mr. Faizal Salieh (Chairman) Consumer Affairs • Mr. Anushman Rajaratnam (Chairman) CSR & Sustainable Business • Mr. Samantha Ranatunga (Chairman) Economic, Fiscal & Policy Planning • Mr. Susantha Ratnayake (Chairman) Exporters • Dr. Anura Ekanayake (Chairman) Finance, Banking & Capital Markets • Mr. Rajendra Theagarajah (Chairman) Financial and Regulatory Reporting • Mr. Asite Talwatte ( Chairman) HR & Education • Ms.Dilani Alagaratnam (Chairperson) ICT • Dr. Hans Wijesuriya (Chairman) Insurance • Mr. Manjula de Silva (Chairman) Law & Order • DIG Jayantha Jayasinghe (Retd.) (Chairman) Legislation • Mr. Pravir Samarasinghe (Chairman) Leisure • Mr. Rajan Brito (Chairman) Membership • Mr. R. L. Jurianz (Chairman) Plantations & Commodities • Mr. Vish Govindasamy (Chairman) Ports, Shipping, Aviation & Logistics • Mr. Parakrama Dissanayake (Chairman) Power & Energy • Mr. Noel Selvanayagam (Chairman) Sri Lanka Economic Summit • Mr. R. L. Watawala (Chairman) (Up to 31st January 2012) Mr. Suresh Shah (From 1st February 2012) Taxation • Mr. Ronnie Peiris (Chairman)Trade Cell • (Pool of Resource personnel to represent the CCC on Trade and Tariff matters on need basis)


Advisory CouncilThe Advisory Council had several meetings during the year and identified many important issues impacting the private sector. These included measures to increase FDI to Sri Lanka, progressing on the Comprehensive Economic Partnership Agreement with India, improving governance, need to promote exports, implications of the Revival of Underperforming Enterprises and Underutilized Assets Act, education and training etc. Since most of these subjects have been assigned to specific steering committees, the Standing Committee A expressed that the Council refrain from reviewing these in detail. The Council also felt that the media engagement of the Chamber should be as an opinion leader on behalf of the private sector. The Advisory Council recommended that the Standing Committee ‘A’ review this and consider appropriate measures to address this issue.

Agriculture and livestock Steering committeeThe Agriculture and livestock Steering committee of the Ceylon Chamber of Commerce commenced its activities in November 2011. This was initiated to facilitate discussions that arise from the sector and to lobby with the relevant authorities. The committee is chaired by Mr. Rizvi Zaheed.

Economic, Fiscal & Policy Planning Steering Committee The role of the Economic Fiscal and Policy planning Steering Committee is to identify new developments in the local and global economy and respond to such developments by establishing dialogue with the Government and other agencies and identification of issues constraining the growth and developments of the private sector and making representations to the Government to address the issues. During the year, some members of the committee were closely involved in reviewing the implications of the Revival of Underperforming Enterprises and Underutilized Assets Act through their appointment to a special committee to review the implications of the Act. The Committee also contributed to the Chamber representations made to the Securities and Exchange Commission on Consultation Paper No.

08 for Draft Rules on Minimum Public Float as a continuous listing requirement.

Further, as customary, this committee worked with the Taxation steering committee in developing the Chamber proposals for the Government’s Budget.

Exporters Steering CommitteeThis Steering Committee was established to look at policies/strategies that would assist in promoting exports from Sri Lanka. The Committee comprises of heads of leading private companies representing key export sectors. The Export Development Board is also represented at the Committee. The objective of the Committee is to address macro issues that affect the export sector that may not necessarily receive sufficient attention at sectoral level meetings. The Committee has identified a few key areas of importance to exports to be the focus of the Committee during the year; Branding, International Standards, Trade Agreements, ICT and Government Policies.

The Taxation Steering CommitteeThe Taxation Steering Committee continued to play an active role at the Chamber regularly meeting to discuss tax policy and tax administration issues affecting private sector and meeting with the officials of the Inland Revenue Department to bring such issues to their notice and discuss measures to resolve issues. With the introduction of the Simplified VAT scheme in 2011 the private sector encountered many issues in conforming with the new system. The Taxation Steering Committee, comprising of tax professionals from the Audit firms and finance directors of private sector companies met several times to discuss matters and thereafter met with officials from the Inland Revenue Department to simplify the SVAT system. Several recommendations made by the tax committee were adopted which somewhat eased the SVAT administration process for the private sector. Subsequently, the Chamber organized a forum with the Inland Revenue Department to share the changes introduced to the SVAT system with the members and senior members of the tax committee serving in the panel of experts at the forum.

Chamber Services


The Taxation committee was also the focal point for developing the taxation proposals for the Chamber Budget submissions for 2012. This is prepared after reviewing the submissions made by the members. The Chamber proposals focused on simplification of prevalent taxes and measures to broaden the tax base. In addition, specific proposals included submissions to encourage export diversification, measures to promote investments in domestic industries, proposal to set up a steering committee for the International Financial Reporting Standard (IFRS) 2012 to prepare guidelines for adoption and interpretation of IFRS, recommendations on amendments to appellate procedures and on measures to improve tax administration. Consequent to the presentation of the Budget Speech in Parliament, the committee met to discuss amendments required to the proposals prior to drafting the legislation, which were submitted to the Ministry of Finance and were thereafter discussed with officials from the Inland Revenue Department and the Ministry of Finance.

Senior members of the tax committee also served in the panel of experts in the Chamber Post budget seminar on National Budget 2012 and the seminar on Understanding the Amendments to Tax Laws.

Power and Energy Steering CommitteeThe Power and Energy Steering Committee was set up with the restructure of the steering committees as the Chamber felt this area required more focus. Previously Power and Energy was covered by the infrastructure steering committee. The Committee represents the interests of the producers of power and energy and has been meeting regularly to discuss issues affecting the progress of Private sector entities engaged in Power and Energy business. The main constraint that has been identified by the committee is lack of opportunities for the private sector to invest in power sector development. Although the Mahinda Chinthana policy framework states that the Government is expecting the Private sector to enhance investments to accelerate economic growth, the Electricity Act has placed restrictions on private sector investments in power projects over 25MW. Furthermore, with the Government taking measures to engage in renewable power

projects, such as the majority shareholding to be retained by the Government on wind power projects in Mannar and the formation of Sri Lanka Energies (Pvt) Ltd by the Government to redevelop 130 Mini hydro projects, the private sector perceives that it is being sidelined from investments. The Committee has requested for a meeting with the Secretary Ministry of Power and Energy to discuss these issues.

Meanwhile the Committee also invited Mr. Saliya Wickramasuriya, Director General Petroleum Resources Development Secretariat to a Committee meeting to be briefed on the developments of the Petroleum Resources Development plans of the Government.

Annual Report - Financial & Regulatory Steering CommitteeDuring the period under review the Committee focused on adopting International Financial Reporting Standards (IFRS) by the listed companies from year 2012. The issues that the companies may have to face and the possible advantages of adopting IFRS were brought forward and discussed in detail. One of the concerns, which was brought to the notice of the Institute of Chartered Accountants of Sri Lanka was the ‘Application of IFRIC 15 to the property Development Sector’.

Information, Communication and Technology Steering CommitteeAfter a lapse of five years, it was decided to re-establish Information, Communication and Technology (ICT) Steering Committee. The Committee was established in November 2011 with the objective of implementing short and long term strategies based on the lines of the ‘Mahinda Chinthana’ – “Knowledge Hub”. The Steering Committee therefore will focus on the following during the period 2012 - 2014:

Competitiveness • BPO/KPO/Incubation

Short term - Development of R & D • Programmes

Long term - Patents for Software•

Technology penetration • Infrastructure / Socio Economic Development


ICT Literacy • School level programmes

Image building • Branding

ICT enablement for Regulatory authorities•

ICT Sector Human Resource Development•

Marketing & Image Building•

Legal Issues•

Infrastructure issues•

Build competitiveness of the industry • (by development of ICT Strength, Efficiency, Quality and as a niche industry)

Encourage Innovation • Business incubators, Research and Development Centres

Organise awareness programmes with • Universities in Sri Lanka

Attract innovation by organizing “Business • Plan” competitions

The Leisure Steering Committee The Leisure Steering Committee was set up by the CCC in October 2011 led by Mr. Rajan Brito. During the year under review this committee indentified and discussed the following issues with the objective of finding solutions.

Concessions on Refurbishment of Hotels; • stressed on the importance of requesting for Duty Free concessions, for refurbishment of hotels.

Issue on electricity - lobbied on behalf of • the Hotels Association of Sri Lanka (THASL) with the Public Utilities Commission (PUC) requesting THASL Members to be placed on the same category as the other Industries.

Sri Lanka Tourism Ministry has assigned • destination management to be handled by the Sri Lanka High Commissions based overseas.

To avoid ad hoc increases to the cultural sites • the industry lobbied that sufficient notice should be given in the future.

Minimum room rates for hotels - in • accordance with the government regulations, the Colombo City Hotels increased the room rates by 20% - 30% giving only one weeks’ notice. Due to such a sudden increase and

insufficient notice, the DMCs lost heavily having to pay the difference for those who made advance bookings, as the tour operators were not willing to pay more than the contracted prices. The DMCs were of the view that the increase in room rates should be determined by the market forces and the forward contracts entered into by the hotels/ travel agents should be honoured up to the validity of the contract.

The Steering Committees are comprised of industry leaders from relevant Trade Associations affiliated to the Chamber, experts in the trade and officials from relevant Government organizations, identified by the Chamber, taking into consideration, their expertise and incisive knowledge to contribute towards fulfilling the mandate of the Steering Committees.

Plantation Steering Committee In a bid to bring together the stakeholders of the Plantations & Commodities sector to a common platform to discuss issues and concerns faced by them, the CCC formulated the Plantation & Commodities Steering Committee in September 2011. The First meeting of the Committee was held on Tuesday, November 16, 2011, chaired by Mr. Vish Govindasamy.

Following much deliberation on each sector, the issues faced currently were submitted to the CCC in order that they are addressed and resolved.

The common issues faced by all sectors identified by the steering committee are as follows.

Chamber Services


The Committee for cess on (Tea/ Rubber/• Palm Oil and Spices is non functional)

Security/Theft/Adulteration. •

Foreign Exchange Rate.•

Tax Holiday for reinvestment of Profit.•

Reinstate stakeholder representation on sub • committees of various ministries/government entities.

Break the barrier of exporting to countries • that are not growing economically and look at the feasibility of exporting to India, China and Indonesia.

TeaLobby for a longer lease period in a bid to • attract investors.

Proliferation of new factories.•

Government grant or loan for factory • development in the context of diversification.

Develop the Small Holder segment. •

RubberNo additional Cess to be imposed•

Acquisition of rubber lands by Government for • construction of housing projects.

Rampant thieving taking place on Rubber • Plantations, and CCC’s role with RDD to impose restrictions on dealers.

SpicesProduction and productivity to be addressed, rather than accruing estate lands.

Shortage of Cinnamon PeelersControl ‘Thrips’ attack on cardamoms, through the Department of Export Agriculture, Ministry of Minor Export Crop Promotion.

Ports, Shipping, Aviation and Logistics Steering Committee Ports, Shipping, Aviation and Logistics Steering Committee of the Ceylon Chamber of Commerce was a newly formed Steering Committee during September 2011 based on the necessity foreseen.

Whilst appreciating the development initiatives carried-out by the government of Sri Lanka in the areas of port, shipping, aviation and logistics, the steering committee proposes recommendations and also highlights certain opportunities Sri Lanka should capitalize to emerge as the gateway to the Indian sub continent.

Air Transportation Exorbitant ground handling charges at the BIA • which is not competitive in the region.

The monopoly or single service provider does • not create an atmosphere to be competitive.

Need to develop domestic airports.•

Road/Rail Transportation Modernizing the public transit system at least • in the 2 main cities (Colombo & Kandy) of Sri Lanka.

Road safety – The root cause is mainly due to • the design of roads.

The need to develop on rail transportation for • freight transportation.

Logistics Sector Delay in clearing of Lesser Container Load • (LCL) cargo

Multi cargo consolidation – (identified as an • operational issue)

Local logistics to be improved.•

Shipping/Ports Increase capacity in the Port of Colombo on • an urgent short term basis

Chartered Institute of Logistics & Transport Sri Lanka (CILTSL)The Chartered Institute of Logistics and Transport (CILT), Sri Lanka partnered with the Ceylon Chamber of Commerce for secretarial services in May 2010.

Since joining hands with the Chamber, the CILT was able to grow and expand its membership from 340 members to 1005 members within 20 months. This period also saw the establishment of Corporate Partnership and the Young Professionals’ Forum.


The monthly evening lectures were a high point in taking the professional nature of CILTSL to the industry. The CILT Evening Lectures became a regular event together with the Memorial Lectures, most of which were very well attended, attracting above 200 participants to each, from the industry. CILTSL also ventured into making representations to decision makers on industry matters as well as in public awareness of transport sector issues. The dangers of ill advised driving on the newly introduced Expressway in Sri Lanka, which was given wide publicity in the Media was an area the CILTSL managed to convince the Policy makers to make the correct decisions.

Moreover CILTSL also received much exposure when the International Management Committee Meeting of CILT International was held in Colombo in conjunction with the CILT Conference in October 2011. Even greater exposure was received when the International President of CILT, Prof. Alan Waller was the Guest of Honour at last year’s International Conference. His visit also led to a number of events as well as media interviews and reports.

CILT SL won the bid to host the International Convention in Colombo in 2013, which would not have been a reality if not for the support and expertise rendered by the Ceylon Chamber of Commerce in preparing the bid document.

The 20 months period partnership was the first experience for CILTSL in working with a fully fledged outsourced Secretariat in which respect CILTSL was greatly benefited in having the services of the Ceylon Chamber of Commerce.

Arbitration & Mediation Steering CommitteeIn the recent years, CCC recognizing the need for expansion of the Arbitration Service, proposed to launch the “Ceylon chamber of Commerce

Commercial Arbitration & Mediation Center”. At the initial phase, in 2009, the CCC Board of Arbitrators was expanded to invite eminent arbitrators into the pool of arbitrators under several new categories.

The Arbitration and Mediation Steering Committee has recommended amendments to the present Arbitration Rules of the CCC and in addition revised the fee structure for arbitration proceedings. Expanding its services further by addition of specialized insurance sector panel of Arbitrators for facilitating insurance disputes are under discussion.

Finance Banking & Capital Markets Steering CommitteeThe latter period of 2011 had been a turbulent period in the Capital market. Insider trading had been a central focus of discussion at the meetings of the Finance Banking and Capital Markets Steering Committee.

Legislation Steering CommitteeThe Chamber made written and oral submissions before the Lessons Learnt & Reconciliation Commission (LLRC), during its investigation period regarding the post conflict reconciliation affecting major areas of Sri Lankan economy. Pursuant to the LLRC Report, the Steering Committee met to discuss the finer points of the LLRC recommendations affecting private sector and a joint Chamber statement was also published regarding the same.

Insurance Steering CommitteeIssues faced by the insurance industry as a result of unilateral practices of NITF (which now manages the SRCC Fund in addition to receiving the 20% compulsory cession) were discussed. A letter was addressed to the Insurance Board of Sri Lanka (IBSL) highlighting these issues.

Chamber Services


Another issue discussed relates to the treasury circular issued to all government entities compelling them to place all their insurance business with state owned insurers. It was further mentioned that this is now being applied even to contracts given to the private sector by government entities. As a result, government sector clients as well as their contractors are compelled to insure under SLIC or NITF gaining unfair competition. The Committee decided to address a letter to the Secretary to the Treasury highlighting the above concerns.

Competition due to under pricing among the Insurance Companies was also noted.

Interest Group for the Food Sector (IGFS)Through the Chamber representative at the Food Advisory Committee (FAC), the IGFS made submissions on several draft legislation affecting the Food Sector. It was decided by the IGFS to set up a Technical Committee to advise the IGFS on technical matters in order to review and comment on draft legislation efficiently.


Events

Seminars/Events during April 1, 2011 – March 31, 2012

Sri Lanka Economic Summit 2011

The 12th Sri Lanka Economic Summit, the flagship Business Forum of the country was held from July 4 - 5, 2011 at Cinnamon Grand, Colombo. The event was attended by more than 300 top corporate personnel, government officials and media.

The summit was held under the theme “Driving growth through fast track implementation” and a large number of speakers ranging from the private sector, the public sector, foreign speakers, academia politicians and representatives from international organizations shared their thoughts at the forum. The main sessions focused on areas such as attracting investments- the ease of doing business, financial sector challenges, growth opportunities in tourism, new opportunities in IT/BPO sectors, higher education and skills development and also breaking bottlenecks in development. Breakout sessions were held on logistics including ports, shipping & aviation, agriculture, plantation & food security, healthcare & health insurance and also construction.

The summit was organized by the Ceylon Chamber team under the guidance of the Economic Summit Steering Committee which was chaired by Prof. Lakshman R. Watawala.

Seminars/EventsSeminars/Events during April 1, 2011 – March 31, 2012

Seminar on Understanding the Amendments • to Tax Laws – April 21, 2011 – 240 Participants

Complete Course on “Media Strategies for • the Corporate Sector” – May 4 – 6, 2011 – 16 Participants (limited participation)

Discussion on an Overview of India’s Foreign • Direct Investment Policy, Exchange Control Regulations and the Special Economic Zone Incentive Scheme – May 5, 2011 – 30 Participants

Seminar on “The Best Corporate Citizen • Award 2011” – June 17, 2011 – 70 Participants

Sri Lanka Economic Summit 2011 – July 4 – • 5, 2011 – 280 Participants

Two Day Conference on “Sustainable • Biodiversity & Economic Development Conference – July 12-13, 2011 – 165 Participants

172nd Annual General Meeting of the Ceylon • Chamber of Commerce – July 28, 2011 – 200 Participants

CCC Forum for Public Private Sector Dialogue • on “An Update on Simplified VAT” - August 4, 2011 - 240 Participants

Electricity Tariff Revision 2012: Consultation • Process and Regulatory Framework - August 12, 2011 – 110 Participants


Seminar on Export & Import Procedures – • “Maximise your opportunities in the Global Market Place” – August 25, 2011 and September 15 & 16, 2011

Session I – Import Procedure, Goods • Classification & Harmonised System & Import Procedures - 77 Participants

Session II - Introduction to the Department of • Sri Lanka Customs, Goods Valuation, Export Procedures - 58 Participants

Session III - Export facilitation, Bonding and • Entrepot Trade – 76 Participants

Presentation on “Global Economic • Developments: Impact on Sri Lanka” by Dr.Razeen Sally, Director of the European Centre for International Political Economy - September 16, 2011 – 105 Participants

Seminar on “New Insights into U.S. • `Customs Valuation and Enforcement Initiatives: Helping you to enhance your export earnings” - September 22, 2011 – 28 Participants

Discussion on Swed-Partnership Programme - • September 30, 2011 – 85 Participants

GRI Certification Course - October 19 – 20, • 2011 – 35 Participants

Best Corporate Citizen Award 2011 for CSR & • Sustainable Business – November 4, 2011 – 300 Participants

Seminar on National Budget 2012 - • November 24, 2011 – 170 Participants

CEPA Forum – in association with the • National Chamber of Commerce of Sri Lanka - December 1, 2011 – 70 Participants

World AIDS Day 2011 – A breakfast meeting • for CEOs and Chamber members – Keynote Speech by Mr. Kumar Sangakkara – December 1, 2011 – 200 Participants

2nd Complete Course on “Media Strategies • for the Corporate Sector” – January 18 – 20, 2012 – 23 Participants (limited participants)

Seminar on “Making Sense of the Global • Economy for Business & Investment Decisions” – January 20, 2012

Session I – Business Forum - 80 Participants •

Session II – Interactive Workshop – 50 • Participants

Members’ Forum – March 22, 2012 – 125 • Participants

Events Managed on Behalf of Other Organizations:

National Road Safety Conference – May 11, • 2011 – 530 Participants

Asia Pacific Entrepreneurship Awards 2012 – • February 12, 2012 - on behalf of the Sri Lanka-Malaysia Business Council - 430 Participants


Members’ Forum of the Business CouncilsThe Business Councils Division of the Ceylon Chamber of Commerce organized a “Members’ Forum,” an Interactive Evening for members of all Business Councils coming under the aegis of the Ceylon Chamber of Commerce on February 16, 2012.

The main objectives of the “Members’ Forum” was to facilitate an interactive discussion on trade and investment opportunities that arise from the conducive business environment prevailing in Sri Lanka and create a better coordination mechanism for enhancing international trade, tourism and investment.

This important event attracted members from 21 bilateral Business Councils of the Chamber, Officials attached to Embassies/High Commission in Sri Lanka and the respective Government Institutions such as the Ministry of External Affairs, the Department of Commerce, Sri Lanka Tourism Development Authority, Sri Lanka Export Development Board and the Board of Investment of Sri Lanka to network and develop a dialogue to further strengthen relationships between the private and public sectors.

Mr. Karunathilleke Amunugama, Secretary, Ministry of External Affairs, addressed the gathering on the “Strategy of the Government to reposition the image of Sri Lanka”. Dr. Nevil Gunawardhana, Director General, Sri Lanka Customs briefed the participants on “Sri Lanka to be the best Customs in Asia: the Strategy of Sri Lanka Customs and Expectations from the Private Sector” and Mr. Manmohan Singh, General Manager, Malaysian Airlines spoke on “How to capitalize the Peaceful environment in Sri Lanka for Tourism Promotion”. 182 participants attended this event.

Activities of Business Councils

Sri Lanka – Africa & Middle East Business Council

Visit of Her Highness Sheikha Lubna Bint • Khalid Al Qasimi, Minister of Foreign Trade, United Arab Emirates (UAE), November 24, 2011.

The Sri Lanka - Africa & Middle East Business • Council in association with the Ministry of External Affairs and the Department of Commerce organized “Sri Lanka - UAE Business Forum” followed by a networking session on November 24, 2011.

“Presentation on Investing in Rwanda” on • December 5, 2011 by His Excellency Williams Nkurunziza, High Commissioner for Rwanda based in New Delhi

Sri Lanka - Australia - New Zealand Business Council

Luncheon Meeting with Mr. Veranjan • Kururkulasuriya, Director Research, Department of National Physical Planning on February 16, 2012 on the Government of Sri Lanka Project Proposals 2010-2030.

Council for Business with BritainVisit of a seven member trade delegation • from Invest Northern Ireland (INI) UK on November 21, 2011.

Breakfast meeting on June 2, 2011 with • His Excellency John Rankin, British High Commissioner.

“Establishing Sri Lanka as a Regional • Education Hub”, Breakfast Meeting with Hon. S. B. Dissanayake, Minister of Higher Education was held on November 29, 2011.


Luncheon meeting with Mr. Dhammika • Perera Secretary to the Ministry of Transport was held on January 31, 2012. His address was on “Colombo Metropolitan Transport Strategy”.

“Towards 2.5 million Visitors by 2016 - Where • are we now and a Policy Framework to get there” by Dr. Nalaka Godahewa, Chairman, Sri Lanka Tourism Development Authority on February 28, 2012.

Sri Lanka - France Business CouncilFarewell to Mr. Bruno Viviez- Economic • and Commercial Counsellor, French Trade Commission on June 24, 2011 The event was graced by Her Excellency Ambassador for France, Madame Christine Robichon.

Interactive Evening with Mr. Jean-Louis • Poli Economic & Commercial Counsellor of the French Trade Commission was held on November 9, 2011.

Sri Lanka - Germany Business Council

Visit of a six member Trade Delegation from • Germany – Medical Technology Meeting on August 16, 2011 was organized in order to

provide an opportunity for Sri Lankan business community to interact with the delegates.

Signing of MOU with Nuremberg Chamber • of Commerce and Industry, Germany. A Memorandum of Understanding was signed between Ceylon Chamber of Commerce and Nuremberg Chamber of Commerce and Industry, Germany on August 17, 2011 at Ceylon Chamber of Commerce.

Sri Lanka - Indonesia Business Council

Farewell reception to H. E. Djafar Husein, • Ambassador of the Republic of Indonesia His Excellency Djafar Husein was organized on December 22, 2011.

Sri Lanka – Malaysia Business Council

The Sri Lanka – Malaysia Business Council • organized the “Asia Pacific Entrepreneurship Awards” (APEA) 2012 on February 12, 2012 with a host of leading entrepreneurs from Sri Lanka and ASEAN Region. The Sri Lanka - Malaysia Business Council of the Ceylon Chamber of Commerce was proud to be the local Partner in introducing the event to Sri Lanka.

Sri Lanka - Maldives Bilateral Business Council

The Council organized an Interactive Evening • with Hon. Dr. Mahmood Razee, Minister of Economic Development of Republic of Maldives and His Excellency Hussain Shihab, High Commissioner for the Republic of Maldives on September 23, 2011. Mr. H.M.A.B. Weerasekera, Deputy General Manager – International Banking, Bank of


Ceylon made a presentation on “Harnessing The Benefits of Credit Line Granted to The Republic of Maldives”.

Sri Lanka - Poland Business CouncilThe Council organized a seminar on “Public • - Private Partnerships in Tourism” on June 2, 2011. Mr. Malraj Kiriella, Acting Managing Director, Sri Lanka Tourism Promotion Bureau, Mr. Anura Lokuhetty, President, Tourism Hotels Association of Sri Lanka and Mr. Srilal Miththapala, Project Director, SWITCH-ASIA Programme, Greening Sri Lankan Hotels addressed the gathering.

Networking dinner with His Excellency • Prof. Piotr Klodkowski, The Council organized a presentation on“Current Market Opportunities in Poland” by His Excellency Prof. Piotr Klodkowski, Ambassador for Poland in India followed by a networking dinner on February 2, 2012.

Sri Lanka - Vietnam Business Council

A networking session for the Vietnamese • buyers from the coconut sector was organized by the council. Six Buyers from Vietnam visited Sri Lanka on August 11, 2011, to establish/further strengthen links with exporters of Coir Fibre, Mattress fibre and Coconut shell Charcoal. In order to provide an opportunity for members to interact with these buyers, the Council organized a networking session with the delegates at the Chamber.

A 40 member high powered business • delegation from Vietnam visited Sri Lanka to coincide with the visit of His Excellency the President of Vietnam on 14th October,

2011. The Council in association with the Embassy of Vietnam in Colombo, National Chamber of Commerce Sri Lanka and the Ministry of External Affairs organized “Sri Lanka – Vietnam Business Forum” followed by a “Business Matchmaking Session”. His Excellency the President of Vietnam addressed the gathering at the “Business Forum” where a number of Senior Ministers from both countries representing the Government of Sri Lanka and Socialist Republic of Vietnam attended the Forum.

Outward MissionsThe CCC in association with the Bilateral Business Councils organized eight trade and investment promotion missions and two exhibitions covering Romania, Maldives, Russia, Singapore, Korea, Canada and Vietnam. The main objectives of these missions and exhibitions were promotion of trade, investment, joint ventures, services, tourism and transfer of technologies between Sri Lanka and the relevant countries. All missions were result oriented with the majority of the delegates obtaining orders.

Trade and Investment Promotion Mission to RomaniaThe Ceylon Chamber of Commerce led a 10 member delegation on a trade and investment promotion mission to Romania from May 18 - 20, 2011. The objective of the mission was to promote Tea, Gems & Jewellery, IT Sector – Software, BPO, Tourism, Rubber Products, Wooden Furniture and Wooden products. Hon. Neomal Perera, Deputy Minister of External Affairs too joined the mission.

The CCC signed a Memorandum of Understanding (MOU) with the Chamber of Commerce and Industry of Romania to coincide with the visit of the Hon. Deputy Minister.



Trade and Investment Promotion Mission to JapanThe 16th Joint Committee Meeting of the Japan - Sri Lanka and Sri Lanka - Japan Business Co-operation Committee was held on June 20, 2011, in “Tokyo Kaikan”, Tokyo, Japan.

Hon. Dr. Sarath Amunugama, Senior Minister of International Monetary Co-operation and Deputy Minister of Finance and Planning, attended the 16th Joint Committee Meeting as the Chief Guest representing the Government of Sri Lanka and delivered a congratulatory address and made a presentation on “Review of Economic Situation of Sri Lanka and Japan-Sri Lanka bilateral relationship”. He was accompanied by a 19 member delegation.

His Excellency Admiral (Rtd.) Wasantha Karannagoda, Ambassador of Sri Lanka in Japan also addressed the gathering.

The Keynote address at this meeting was delivered by Hon. Yasushi Akashi, the Representative of the Government of Japan for Peace - Building, Rehabilitation and Reconstruction in Sri Lanka. His address was on “Sri Lanka – Japan, future relationship between the two countries”.

“Sri Lanka Trade Promotion Exhibition” in JapanA mini single - country trade exhibition entitled “Sri Lanka Trade Promotion Exhibition” was held on June 21, 2011 in Tokyo. The exhibition was organized by the Sri Lanka - Japan Business Co-operation Committee (SLJBCC) of the Ceylon Chamber of Commerce, in association with the Embassy of Sri Lanka in Japan, Sri Lanka Business Council of Japan (SLBCJ) and the Japan External Trade Organisation (JETRO), to coincide with the 16th Joint Committee Meeting of the Japan-Sri Lanka and Sri Lanka- Japan Business Co-operation Committees of the Japan Chamber of Commerce and Industries/ Tokyo Chamber of Commerce and Industries and the Ceylon Chamber of Commerce held on June 20, 2011 in Tokyo.

Products and services displayed at this exhibition were Apparel, Ceramic & Porcelain ware, Coco peat, Electronic Products, Gems & Jewellery, Minerals, Polypropylene Straps for packing, Rubber floor coverings and other rubber products, Spices and Tea etc. Travel/Tourism, Accounting services and Architecture/Outsourcing, Consultancy Services, Healthcare, IT and Real Estate.

The inauguration of the exhibition was graced by dignitaries such as Hon. Yasuo Fukuda, Former Prime Minister, Member of House of Representatives of Japan, Hon. Dr. Sarath Amunugama, Senior Minister of International Monetary Cooperation/ Deputy Minister of Finance and Planning of Sri Lanka, Chairman of the Japan – Sri Lanka Business Co-operation Committee Mr. Sumitaka Fujita and Officials attached to the Sri Lanka Embassy in Japan.

The exhibition hosted 18 stalls and approximately 140 Japanese entrepreneurs visited the exhibition and attended B2B Meetings.

“Sri Lanka Pavilion” in Maldives


The Sri Lanka - Maldives Bilateral Business Council of the Ceylon Chamber of Commerce, organized a “Sri Lanka Pavilion” at the Hotel Asia 2011 Exhibition held from 14 - 16 July 2011 in Male, Republic of Maldives. 19 representatives from 15 companies displayed and promoted products/services at the Exhibition which was well attended by the Maldivian business community.

Third Trade and Investment Promotion Mission to MaldivesThe Sri Lanka – Maldives Bilateral Business Council of the Ceylon Chamber of Commerce organized its third trade and investment promotion mission to Maldives from July 14 - 16, 2011 to coincide with Council’s participation at the Hotel Asia Exhibition from July 14 - 16, 2011 in Malé, Republic of Maldives.

16 representatives from 14 companies joined the mission. In addition to organizing business matchmaking sessions with the Maldivian business community with the assistance of the Sri Lanka High Commission in Maldives, delegates were provided with an opportunity to meet Ministers/Officials attached to relevant Government Ministries/Departments such as the Ministry of Economic Development & Trade, Ministry of Civil Aviation, Ministry of Tourism and Invest Maldives.

Trade and Investment Promotion mission to Russia

The Sri Lanka – Russia Business Council of the Ceylon Chamber of Commerce organized a trade and investment promotion mission to Russia from September 17 - 21, 2011.

The Mission coincided with the inaugural direct flight of Sri Lankan Airlines to Moscow on September 17, 2011.The delegation comprised of nine members representing various product/service sectors. The Russia Chamber of Commerce and Industry organized business matchmaking sessions for the delegates with potential business partners in Russia.

Trade and Investment Promotion Mission to SingaporeThe Sri Lanka- Singapore Business Council of the Ceylon Chamber of Commerce organized a 11 member trade and investment promotion mission to Singapore from September 27 - 29, 2011. The business delegation was organized to coincide with the I-Advisory Seminar on “Doing business with Sri Lanka”, a business forum organized by IE (International Enterprise) Singapore in association with the High Commission of Sri Lanka in Singapore.

The seminar was intended to educate participants on investment opportunities in Sri Lanka and was attended by over 100 Singaporean companies.

Trade and Investment mission to South KoreaThe Sri Lanka- Korea Economic Co- operation Committee of the Ceylon Chamber of Commerce organized a trade and investment Promotion mission to Seoul, South Korea from October 16 - 20, 2011. The sixteen member delegation included Hon. Neomal Perera, Deputy Minister of External Affairs of Sri Lanka.

Korea Chamber of Commerce & Industry (KCCI) which is the key trade chamber in Korea, hosted a Trade and Investment Seminar and One-to-one business meetings for the delegates. Korea



Importers Association (KOIMA) which is the key Korean organization representing the interest of Korean importers having more than 8,500 member companies also organized one-to-one business meetings. Small & Medium Business Corporation (SBC) of Korea hosted an Investment Seminar at their regional headquarter in Incheon. During the visit, the key officials of the delegation met Korea International Trade Association (KITA) (which is one of Korea’s largest business associations having membership of more than 65,000 companies) and Korea Trade- Investment Promotion Agency (KOTRA) to discuss avenues of further enhancing the economic relationship between the two countries.

A MOU was signed between Sri Lanka Korea Economic Co-operation Committee and Incheon-Bucheon-Gimpo SMEs Hybrid Business Association.

Trade & Investment Promotion Mission to CanadaThe Sri Lanka – Canada Business Council of the Ceylon Chamber of Commerce organized a trade and investment promotion mission to Canada from October 26 - 30, 2011.

The mission programme for the six member delegation for Sri Lanka was co-ordinated from Canada by the Sri Lanka High Commission in Ottawa, the Sri Lanka Consulate in Toronto and the Canada – Sri Lanka Business Council. The programme included one-to-one business meetings and a seminar on “Doing Business where Business Gets done”.

Trade & Investment Promotion Mission to VietnamThe Sri Lanka - Vietnam Business Council of the Ceylon Chamber of Commerce organized a trade and investment promotion mission to Hanoi and Ho Chi Minh city in Vietnam from March 4 - 8, 2012.

15 member companies joined the mission which was co-ordinated by the Embassy of Vietnam in Sri Lanka, Vietnam Chambers of Commerce in Hanoi and Ho Chi Minh City, in association with the Sri Lanka Embassy in Vietnam.

Sri Lanka - Vietnam Business fora were organized in both cities. In addition to business matchmaking sessions, visits were also organized to meet the President of Vietnam, His Excellency, Truong Tan Sang and VINA SME Association.


CCC SolutionsCCC Solutions is in its 4th year of operations and has further strengthened its leadership position in the area of sustainable development. All projects under its purview have shown excellent progress and received much acclaim. Some of the significant milestones reached in each of the projects are summarized below.

Under the first SWITCH-Asia Programme on Food & Beverage, a programme was initiated introducing Rice Flour for Bakery Products instead of using Wheat Flour. The Finance Ministry has fully supported this pioneering initiative and now a strategic programme is in place to introduce Rice Flour right throughout the country.

The Global Reporting Initiative (GRI) was introduced to Sri Lankan Companies through a series of workshops and for the first time a GRI Certified Training Course in Sri Lanka was carried out with an accredited Training Partner, Confederation of Indian Industry (CII). This paved the way for the National Green Reporting system to be established under the Ministry of Environment.

The Greening Sri Lanka Hotels initiative under the SWITCH-Asia Programme has also come in for much recognition in that, the national body - Sri Lanka Tourism has requested a set of guide lines to be formulated on Green Practices for use in the Hotel Industry. With the dramatic boom experienced, this intervention with over 100 hotels will no doubt have an impact on strengthening the drivers of the 3 “P” principle – Planet, People & Profits.

CCC Solutions was instrumental in facilitating the completion of the first ever best practice pilot project in Eco Tourism - The Rainforest Ecolodge (Pvt) Ltd which commenced operations in January 2012. This landmark initiative will benchmark best practices in Sustainable Tourism.

Under the Business Matchmaking Programe with NORAD assistance, the company is proud to note that the programme has been given a further extension of two years till the end of 2014. The programme has had its best year in

Projects

the period under review and continues to draw much interest from Norwegian Companies. The sectors that show most promise are in Information & Computer Technology (ICT) and waste management.

Many companies have showcased, in the recent past, the success stories due to the company’s interventions in Sustainable Consumption & Production (SCP) practices. The company is confident that the services offered will have an exponential demand which will ensure consistent growth and sustainability of the company’s operations.

The first guests of Rainforest enjoying a cup of “Ceylon Tea” on arrival

SWITCH – Asia Programme on SCP to SMEs in the Food & Beverage SectorThe SWITCH – Asia Programme on Sustainable Consumption and Production (SCP) which is now in its final year of operation has in our opinion contributed overall in a meaningful manner to improve the Sustainable Initiatives of the Food & Beverage industry. To date, about 430 SMEs have been trained and some have already enhanced their profits by implementing best practices of SCP. About 130 companies in the Food & Beverage sector have been trained to comply with international food safety standards (ISO 22000:2005/HACCP/GMP). Fifteen Companies have already obtained their ISO 22000/HACCP certification and five companies have GMP certificate. Few more companies are in the process of being certified during the year 2012 which is a great achievement and would give them a competitive edge in the export market.


Capacity building for the Project Team continued and they were trained in improving (a) the Environment Management System, (b) Energy Management System, (c) Green Reporting System etc. by the foreign partners IVAM of the Netherlands and the Confederation of Indian Industry (CII). During the reporting period, awareness programmes were conducted in the districts of Polonnaruwa, Anuradhapura, Ampara and Batticaloa.

Baseline studies on energy, water and raw materials have been conducted in the sectors of dairy, rice mills, bakeries and poultry.

The Ministry of Environment has taken a keen interest to implement the National Green Reporting System which was one of the policy instruments on SCP of the policy document prepared and submitted by the SWITCH – Asia programme. Technical assistance was provided to formulate the guidelines for the National Green Reporting System of Sri Lanka which was launched on the 17th June 2011 and it is now being approved by the Cabinet. The export oriented industries under the BOI have been trained on the National Green Reporting System of Sri Lanka. We are confident this initiative would encourage Green Reporting Systems both in Public and Private Sectors.

A special workshop was organized for the bakery sector in Colombo, Gampaha and Anuradhapura to promote the usage of rice flour for bread and bakery products in order to have a positive impact on the environment with the reduction of CO2 emission due to less quantity of wheat flour being imported.

The first ever Certified Training Programme on Global Reporting Initiatives (GRI) G3 guidelines was conducted for the corporate sector with the assistance of CII, which is accredited to conduct GRI programmes.

The Wayamba Green Business Club was inaugurated on the 16th December 2011 at Kurunegala by the Chief Secretary of Provincial Council of North Western Province, Mr. Vijitha Bandara Ekanayake. Thirty six entrepreneurs took part in the launch and obtained membership. The

Programme on SCP will be sustained through the Green Business Club.

Launch of the National Green Reporting system of Sri Lanka on 17th June 2011

SWITCH – Asia Programme on Enhancing Environmental Performance in Key Sri Lankan Export Sectors (EEPEX) ProjectDuring the year under review, the Ceylon Chamber of Commerce continued to partner the Industrial Technology Institute in the EU SWITCH – Asia funded EEPEX project which commenced operations in 2009. The objective of this project was to encourage Sri Lanka’s export sector enterprises and their support service providers across the value chain, to adopt environmentally friendly production practices and technology. The sectors identified for the project included ceramics, rubber, plastics, coconut products, leather, footwear, hotels and supporting areas such as service stations, construction, packaging and logistics.

The main role of the Chamber in EEPEX was to promote and market the project and create interest amongst identified organizations to join the project. Additionally the Chamber also supported and assisted the Project Director in other promotional activities such as seminars and workshops. Though the targeted number was 50 the Chamber was successful in registering 54 organizations, of which 15 were categorized under the large sector and 39 under the small scale category. The large and small scale industries were categorized by the total number of employees. Those who had over 250 employees came under the large category and the others were registered under small scale industries.


The sectors represented in the project were, 12 from the rubber sector, ceramics 9, plastic & packaging 8, support service sector 5, auto services, desiccated coconut & tanneries 12 (4 each), construction & hotels 6 (3 each) activated carbon & footwear 2 (1 each).

The ITI staff was responsible for the technical services. The registered organizations will be provided with a comprehensive customized sustainable production package which addresses environmental priorities unique to each industry. The priority areas would include plant layout design, waste water/solid waste disposal, recycle/disposal of reject products, control of dust emission, air pollution & odour, noise and vibration abatement, energy efficiency and water conservation. The technical service for the ceramic industry is nearing completion and the others are in progress.

CCC Solutions was instrumental in facilitating the completion of the first ever best practice pilot project in Eco Tourism - The Rainforest Ecolodge (Pvt) Ltd which commenced operations in January 2012. This landmark initiative will benchmark best practices in Sustainable Tourism.

CCC assisted in organizing 3 seminars in Colombo, Galle & Kurunegala during the period under review. Whilst the Galle and Kurunegala seminars covered training for auto services and desiccated coconut mills, the Colombo forum focused on sustainable production.

SWITCH-Asia Greening Sri Lanka Hotels Project Update – March 2012Greening Sri Lanka Hotels Project under the EU SWITCH-Asia Programme is targeted at

enhancing the environmental performance of Sri Lankan hotels through improvement of energy, water and waste management, thereby reducing their cost of operations, and increasing the market acceptance of Sri Lankan hotels internationally by promoting them as low carbon foot print green hotels.

The Project was launched in 2009 and since then has engaged more than 180 hotels, both from the SME and larger sectors.

The project also facilitates support to hotels that request assistance in implementation of sustainable consumption practices, such as selection of energy efficient equipment and wastewater treatment plants, installation of bio gas plants, waste recycling opportunities and training of staff on best practices. The project was represented at the World Travel Market (WTM), the leading global event for the travel industry which is staged annually in London. Mr. Srilal Miththapala, the Project Director was one of the five speakers at the seminar on “Making Destinations More Sustainable – a report on work in progress in Sri Lanka” which was attended by a diverse range UK and International travel professionals.

Greening Sri Lanka Hotels Project together with two selected SME hotels namely, Hotel Clarion, Colombo and The Swiss Residence, Kandy showcased the good work done to the visitors to ITB Berlin, the International Tourism Exchange in March 2012. The two hotels’ participation at the ITB was fully sponsored by the project where they were given the unique opportunity to meet the global travel trade, network, negotiate, conduct business and also to gain immediate competitive advantage for their business and stay abreast with the latest developments in the travel industry.

In this manner, the project continues to provide publicity and enhance the status of Sri Lanka tourism as a more sustainable tourist destination.

Projects


ITB 2012 –Mr. Prema Cooray – MD/CEO of CCC Solutions (Pvt) Ltd, Mr. Srilal Miththapala – Project Director and Tarangi Usoof – Marketing Communications Manager of EU-SWITCH Asia Greening Sri Lanka Hotels Project with Sarath Wijesuriya (Swiss Residence Hotel, Kandy) and Chathurangi Pathirana (Hotel Clarion) at the Project’s stall at ITB Berlin, 2012.

The Sri Lanka Norway Business Matchmaking Programme (BMMP)The BMMP project which is funded by the Norwegian Agency for Development Cooperation is implemented by the Ceylon Chamber of Commerce together with Advance Business Partners AS, Norway.

During the year under review, CCC organized a seminar on ICT business matchmaking opportunities with Norway. The seminar was a resounding success with over 50 Sri Lankan ICT companies taking part and creating wide awareness about BMMP. The seminar was highly beneficial to the participants, as they were given an introduction to business matchmaking opportunities with Norway, the E-Match portal for Nordic Innovation and business matchmaking opportunities and business matchmaking workshop to be held in Norway. The BMMP team also worked with the national ICT body ICTA, SLASSCOM and FITIS to create awareness and acceptance among Sri Lankan companies. Subsequently, in October 2011 a delegation comprising of 11 ICT companies from Sri Lanka travelled to Norway to participate in a two –day business matchmaking event. A total of 70 business meetings were conducted between 11 Sri Lankan companies and 12 Norwegian Companies. Following the delegation FOVEA AS, Norway entered into business partnerships with Exilesoft (Pvt) Ltd, Sri Lanka.

The visit by Etech Miljo, a company with expertise in collection of gas from landfills and generating energy from waste was well received by local companies such as Burns, Abans and public sector stakeholders such as Western Province Waste Management Authority (WMA). A positive discussion ensued with WMA on possible private/public partnership. The site available for project is the Karadiyana landfill at Boralesgamuwa and later on will extend to Meetotamulla and Malabe landfills as well.

Salsner Filter AS, a company possessing portable waste water treatment technology entered into a partnership with Waterman Ltd. A discussion is also underway for Salsner Filter AS and University of Moratuwa to enter into partnership for Research and Development. Similarly, AgroNova AS having its patent for processing food waste entered into a pilot project with Jetwing Hotels Ltd.

TG Elektro AS entered into a partnership with Lanka hiqu (Pvt) Ltd and Sierra Cables PLC for a venture linked to fiber optic cable industry.

The year under review has been identified in the annual report as the most successful year in the history of the programme by our partners Advance Business Partners AS , Norway.

At the end of the Debrief session for ICT delegates at the Norwegian Ambassador’s residence

SAARC Trade Information ProjectThe SAARC Trade Information Project is a joint effort of 28 leading Business Membership Organization (BMOs), public sector-trading departments, export promotion agencies and national institutions in the eight SAARC countries collaborating in the frame of the SAARC-Trade


Promotion Network (SAARC-TPN), implemented by German International Cooperation (GIZ) with funding from German Federal Ministry for Economic Cooperation and Development (BMZ).

The objective of the SAARC TPN is to establish a trade information service connecting diverse trade information providers from the SAARC region with the aim that traders and enterprises, including SMEs, in the SAARC member states utilize the network progressively and intensively.

YBSL plays a positive and key role in developing entrepreneurship and support youth as part of the socio - economic development of the country.

The TPN consists of five working groups namely, SAARC Trade Information Portal, Quality Infrastructure, Small and Medium Enterprises, Business to Business and Donor Collaboration.

The working group TIP is headed by the Ceylon Chamber of Commerce and provides administrative support for the portal and is represented at the operational committee level. SAARC Trade Information Portal, www.saarctrade.info offers all trade related information in the SAARC region at a mouse click. It is an easily accessible trade database for traders including SMEs by connecting existing databases within the SAARC countries to a common SAARC entry point for trade information. The visitors will be offered the opportunity of requesting research information, accessing publications of the network partners, and registering the business contacts on the portal. A newly added feature will include placing advertisements on the portal based on the advertising models offered. The portal aims to be more customer oriented with relevant, accurate and timely information.

The Operations Committee meeting of the SAARC TPN was held in Colombo from the February 20 - 22, 2012. The meeting was successfully concluded with the participation of representatives from all the network partners in the TPN.

Youth Business Sri Lanka and EU Non State Actors ProgrammeThe year 2011 has been a crucial and significant year for Youth Business Sri lanka (YBSL), moving into 4 new districts Batticaloa, Vavuniya, Ampara and Mannar in the North, East and launching the new YBSL branch in Anuradhapura, North Central part of Sri Lanka. This gives the advantage of covering major districts including Kandy, Badulla, Jaffna, Trincomalee and Hambantota.

As part of the strategic plan, YBSL has started training programmes in the North and East with the assistance of Start and Improve Your Business Association (Official ILO training module) on Generating Business Ideas. The first training has been successfully completed in Trincomalee district with YBSL beneficiaries and mentors. The second training will be conducted in Vavuniya district.

YBSL has organized financial training along with Standard Chartered Bank in March 2012 and will be continuing similar training programmes in Jaffna to create awareness on the procedures related to banking and accounting standards.

Along with these trainings, Management Information System (MIS) component has been included for the region based YBSL programme officers. The mentor trainings have been planned for district mentors to design and match local needs and demands.

A district programme officer and a social mobiliser have been recruited to strengthen the structure with the separate office setup for each YBSL unit. The same setup will be used for baseline survey and Monitoring & Evaluation.

Projects


Further, the District Chambers have formed their women and mentors wing as part of the Chamber hierarchy which will be a value addition for YBSL operations.

YBSL plays a positive and key role in developing entrepreneurship and support youth as part of the socio - economic development of the country.

Dr. Anura Ekanayake handing over a credit support document to a young entrepreneur in Anuradhapura under the YBSL programme.

BPAThe Ceylon Chamber of Commerce and the Business for Peace Alliance (BPA) have signed an agreement to strengthen the regional network of business chambers and share services with membership in the regions. BPA is a network of regional business chambers throughout Sri Lanka with a membership of 26 chambers that bring together about 15,000 Small and Medium Enterprises. The BPA secretariat functions from The Ceylon Chamber of Commerce.


AchievementsHere at the Ceylon Chamber of Commerce, we are proud to have achieved recognition for our work with different strata in the business community. This year, we have achieved much in our work as a leading voice for business in Sri Lanka and we hope to continue our excellent record in the years ahead.


Annual Report Awards 2010/2011- The Institute of Chartered Accountants of Sri Lanka (ICASL)The ICASL adjudged the Annual Report of the Ceylon Chamber of Commerce for the year 2010/2011, as the Gold Award Winner (in the Not for Profit Organizations (NPO) including Non Governmental Organiztions (NGO) Category at its 47th ICASL Annual Report awards ceremony held on December 9, 2011.

Ms. Alikie Perera, Deputy Secretary General/ Finance Controller of the Ceylon Chamber of Commerce accpeting the Gold Award from Dr. P.B. Jayasundera at the ICASL Annual Report Awards Ceremony, 2011.

Best Presented Accounts 2009/2010- The South Asian Federation of Accountants (SAFA)The 2010/2011 Annual Report of the Ceylon Chamber of Commcerce was adjudged by SAFA as the winner of the Merit Award for the year 2011 in the category of ‘Non Governmental Organizations’. The award ceremony was held in Dhaka, Bangladesh on November 29, 2011.

Ms. Indika Kariyawasam, Assistant Accountant of the Ceylon Chamber of Commerce receiving the award from Hon. Muhammad Faruk Khan, Bangladeshi Minister of Commerce.

Global Commerce Excellence Award 2011The Ceylon Chamber of Commerce was awarded the Global Commerce Excellence Award 2011 at a Ceremony organized by the Export Development Board, Sri Lanka Ports Authority, and the Shippers’ Academy Colombo. This Award was presented in recognition of CCC’s contribution and support towards global commerce in Sri Lanka during the past three decades since liberalizing the economy.

Mr. Harin Malwatte CEO/ Secretary General of the Ceylon Chamber of Commerce (with the award).

Achievements


CorporateSocial ResponsibilityCSR is a movement aimed at encouraging companies to be more aware of the impact of their business on the rest of society, including their own stakeholders and the environment. A concept with many definitions and practices, the way it is understood and implemented differs greatly for each company and country. Moreover, CSR is a very broad concept that addresses many and various topics such as human rights, corporate governance, health and safety, environmental effects, working conditions and contribution to economic development.


The Best Corporate Citizen Award 2011

The annual Best Corporate Citizen Award is the Ceylon Chamber’s main Corporate Social Responsibility event that recognizes outstanding CSR and sustainability work carried out by corporate entities in the country. For the eighth consecutive year, the Best Corporate Citizen award was held on 4th November, 2011 at Cinnamon Grand, Colombo.

The award recognizes Ten Best Corporate Citizens based on criteria such as environment, community relations & CSR, employee relations, customer & supplier relations, governance & economic contribution. Category awards are also presented based on the criteria. The applications are in two main categories as companies with a turnover of more than Rs. 10 bn. and those with less than Rs. 10 bn. turnover. The overall winner receives the prestigious “The Best Corporate Citizen Award”.

Additionally, in recognition of projects that have made remarkable contributions to society, 5 awards are given. There are also a few selected merit awards under the “special projects” category.

Over the years the Best Corporate Citizen Award has come to be recognized as an award that indicates a business entity’s overall success and its contribution to the society as a truly responsible corporate citizen.

Best Corporate Citizen Award 2011 – WinnersTEN BEST CORPORATE CITIZENS Category A & B

Aitken Spence PLC Category A - Winners

Aviva NDB Insurance PLC Winner- Nestlé Lanka PLC

Ceylon Biscuits Limited 1st Runner up – MAS intimates (Pvt) Ltd

Colombo Dockyard PLC (CDPLC) 2nd Runner up- Hatton National Bank PLC

Hatton National Bank PLC Category B - Winners

Link Natural Products (Pvt) Limited Winner- Link Natural Products (Pvt) Limited

MAS Intimates (Pvt) Ltd 1st Runner up- Colombo Dockyard PLC (CDPLC)

Nestlé Lanka PLC 2nd Runner up – National Development Bank PLC

Singer (Sri Lanka) PLC

The Hong Kong & Shanghai Banking Corporation Ltd (HSBC)

Category Winners

Environment MAS Intimates (Pvt) Ltd

Community Relations & CSR The Hong Kong & Shanghai Banking Corporation Ltd (HSBC)

Employee Relations Nestlé Lanka PLC

Customer & Supplier Relations Nestlé Lanka PLC

Governance & Economic Contribution Hatton National Bank PLC

Corporate Social Responsibility


Special CSR ProjectsCeylon Biscuits Limited Infrastructure

– Community Development

Award Gamata Sarana project- Providing drinking water, building roads and bridges, setting up libraries and labs in deserving schools and villages

Kelani Valley PLC Environment Award Conservation and enrichment of Halgolle Nature Reserve

Linea Aqua (Pvt.) Ltd. Environment Award Rejuvenating the eco system at Bundala National Park

Link Natural Products (Pvt.) Limited

Education & Training

Award Integrated action programme in selected schools to create an enabling environment for education

Metropolitan Group of Companies

Environment Award E- waste management project

DIMO Lanka (Diesel and Motor Engineering PLC)

Education & training Merit Certificate Sinahawa Scholarship Programme

Heatherset Hotels Ltd Environment Merit Certificate Bio mass gasifier project

Holcim Lanka Ltd North East Project Merit Certificate Masonary Training as a skill development initiative for youths

National Development Bank North East Project Merit Certificate Providing tool kits for 250 IDPs who successfully completed the training programmes conducted by Vocational Training Authority (VTA)

Nestlé Lanka PLC North East Project Merit Certificate Dairy Development

Standard Chartered Bank Health & Nutrition Merit Certificate Eye – care services for the deprived and marginalized individuals in 20 cities. .

Corporate Social Responsibility


SustainabilityReportSustainability is based on a simple principle: Everything that is needed for survival and well-being depends, either directly or indirectly, on the natural environment. Sustainability creates and maintains the conditions under which humans and nature can exist in productive harmony, that permit fulfilling the social, economic and other requirements of present and future generations.


At the Ceylon Chamber of Commerce, we believe that sustainability goes beyond sustaining business and services provided by an organization over time. It encompasses giving back to the community that it operates in, the environment, the society and the country as a whole. Being a leading player and a role model in the corporate sector of Sri Lanka, the Ceylon Chamber of Commerce strives to not only follow a responsible approach towards the work we do, but also to set an example to the business sector through good governance, sustainable environment and by adopting corporate best practices. Sustainability at the Ceylon Chamber involves continuous dialogue with our diverse stakeholders, making best use of opportunities and taking the right decisions at the right times.

The Ceylon Chamber of Commerce is a business support organization and as the leading business chamber in the country, it is also the centre of sustainability. The Chamber is part of the Global Reporting Initiative (GRI) and works closely with the Confederation of Indian Industry (CII), the accredited training partner of GRI. Understanding the significance of the GRI standards, the Ceylon Chamber of Commerce has from time to time organized training programmes for the corporate sector in the country to educate them on GRI standards as this is one of the key areas for sustainability in the future.

Another important contribution that the Ceylon Chamber of Commerce has made towards sustainable business is its role as the implementing agency of the SWITCH Asia project in Sri Lanka. Under the SWITCH Asia project that is implemented through the CCC Solutions arm of the Ceylon Chamber of Commerce, more than 500 Small and Medium Enterprises are benefitted from the training provided under the SWITCH Asia Food & Beverages project, while SWITCH Asia Greening of Hotels project shares knowledge and resources with more than 350 local hotels.

Considering that the food and beverage industry is the largest SME sector in Sri Lanka and that hotels are one of the biggest energy consumers in the country, a considerable number of people in the industry are trained on sustainable practices such as optimizing resource usage and reducing water, energy and waste and also practices such as reuse, reduce and recycle.

At the Ceylon Chamber of Commerce, we understand that sustainability is about the 3 Ps: People, Planet and Profit. Rainforest Eco Tourism

project is another key initiative of the CCC Solutions that is based on these 3 Ps. We have led the way to facilitate perhaps the best Eco Tourism location in the world, bordering the Sinharaja Rain Forest. The project was carried out with minimum effect on the environment and the community has been 100% relocated and even provided employment opportunities, thus providing them a better standard and quality of life.

The Ceylon Chamber of Commerce works closely with a number of globally recognized organizations working in the field of sustainability. The Chamber is also associated with Green Globe, a certification and standardization system for travel and tourism, with whom most of our members are also associated. Global Compact, a universal platform which brings companies together with UN agencies was launched in Sri Lanka with the support of the Ceylon Chamber of Commerce and we continue to work closely with this project.

The Confederation of Indian Industry (CII), Industrial Technology Institute (ITI), Industrial Development Board (IDB), Industrial Services Bureau (ISB), Sri Lanka Sustainable Energy Authority (SLSEA), Institute of Environmental Professionals of Sri Lanka (IEPSL), Responsible Tourism Partnership (RTP), Travel Foundation UK and IVAM Research and Consultancy on Sustainability Netherlands are some of our partners in our projects.

As the premier business chamber of the country, the Ceylon Chamber of Commerce also provides learning opportunities for undergraduates by way of internships providing them an opening to see the workings of the corporate world as a stepping stone to their careers.

Driving big initiatives on sustainability the Ceylon Chamber of Commerce recognizes and encourages contributions made to the society by the corporate organizations in Sri Lanka with the Best Corporate Citizen Awards.

Thus, the Ceylon Chamber of Commerce practices the triple bottomline concept in corporate sustainability by protecting the environment through the diverse projects that it carries out, by making positive improvements in the lives of the people that it works with and creating sufficient profits to continue its existence that marks more than 173 years.

Sustainability Report


CorporateGovernanceCorporate governance involves a set of relationships between a company’s management, its board, its shareholders and other stakeholders. Corporate governance also provides the structure through which the objectives of the company are set, and the means of attaining those objectives and monitoring performance are determined.


Corporate GovernanceThe focus of the Ceylon Chamber of Commerce is based on providing our members and stakeholders quality information on a timely basis. The Chamber is proud to have maintained high standards with its experienced and high quality staff and over centuries it has made significant contributions to Sri Lanka’s Economic Development.

Committee and Standing Committee ‘A’The Standing Committee ‘A’ of the Ceylon Chamber Committee is primarily responsible for providing effective governance of the Chamber’s affairs for the benefit of its stakeholders.

Composition of Committee and Standing Committee ‘A’The Chamber Committee comprises of persons nominated from our members and affiliated organizations. (Pages 12 to 13)

The Standing Committee ‘A’ (STC ‘A’) consists of six members; four office bearers elected from the Chamber Committee, namely the Chairman, Deputy Chairman, Deputy Vice Chairman, the Immediate Past Chairman and two members from the Ceylon Chamber of Commerce Secretariat by invitation.

The Standing Committee ‘A’ exercises such powers as are delegated to it by the Committee. All acts done by the Standing Committee ‘A’ in conformity with such regulations have the like force and effect as if done by the Committee. Details of the Standing Committee ‘A’ are on pages 14 to 15 of the Annual Report.

The Committee and Standing Committee ‘A’ are responsible for taking strategic decisions and directing the management of the Chamber to achieve the objectives of the organization and they are also responsible for the Chamber’s policies and their implementation. The current members of the Committee and Standing Committee ‘A’ were elected in July 2011.

The Management CommitteeThe Management Committee of the Chamber works towards fulfilling its responsibilities by creating sustainable and beneficial value for all

Corporate Governance

The Chamber introduced Governance & Risk management issues to its Member Organizations in the year 2000, paving the way for many to change their Board Room behaviour and strengthen their Director Boards. Towards achieving this goal, the Chamber nurtured and registered the Sri Lanka Institute of Directors, through which current and future Directors of Companies are being developed.


occasions may require or when summoned for the despatch of business.

Responsibility & Development of Member OrganizationsThe Chamber introduced Governance & Risk management issues to its Member Organizations in the year 2000, paving the way for many to change their Board Room behaviour and strengthen their Director Boards. Towards achieving this goal, the Chamber nurtured and registered the Sri Lanka Institute of Directors, through which current and future Directors of Companies are being developed.

Relationship with the StakeholdersThe stakeholders of the Chamber include: (pages 97 to 120)

its stakeholders: members, employees, affiliated associations, bilateral business councils, suppliers, the environment, the community and the nation as a whole. Under the direction of the Heads of Divisions, the executive staff carries out the diverse services provided by the Chamber.

Composition of the Chamber Committee

Appointment of Chairman, Vice Chairman and Deputy Vice ChairmanThe Committee elects from its own members, who have each served on the Committee, an aggregate period of not less than two years.

Secretary General/CEOThe Secretary General is also the Chief Executive Officer of the Chamber and he/she is subject to the general direction and control of the Committee. The Secretary General/CEO is charged with the management and administration of the affairs of the Chamber and he/she is also responsible for ensuring that the decisions of the Standing Committee ‘A’ and Committee are implemented by the Chamber. The Secretary General/CEO periodically reports to the Committee, the progress made by the Chamber.

Committee MeetingsThe Committee meets at least once in every two months during each calendar year or as often as

Rule 8iia. Members nominated by the

Approved Associations

Rule 8iic. 10 Past Chairmen of the

Chamber

Rule 8iib. 12 members appointed by the

retiring committee to represent General

Interest

Rule 8iic. 10 members appointed by the

Committee consisting of the persons referred to in Rule 8iia and 8iib

Rule 8iid. 10 members from among those members who have served on the Committee for an

aggregate period of not less than five

years

Government Departments

Membership

Affiliated Trade Associations

Affiliated Bilateral Business Councils

The Ceylon Chamber of Commerce

Affiliated Regional

Chambers

EmployeesSuppliers

Customers

MOU Partners

The Chamber policy is formulated through a system of Steering Committees. Eminent persons from our membership are invited to share their experience in order to effectively carry out the objectives of the Chamber. Details of the Steering Committees are on page 29.

Principal ActivitiesThe principal activities of the Chamber are policy advocacy, promotion of bilateral trade and investment serving the best interests of its membership and driving the growth of the national economy.

Financial ReportingThe Management is responsible for the preparation and fair presentation of the financial


Statements in accordance with the prevalent standards; Sri Lanka Accounting Standards up to 2011/2012 and Sri Lanka Financial Reporting Standards from 2012/2013 onwards to ensure proper disclosure of financial information.

Auditors ReportThe Auditors report on the Financial Statements of the Chamber is given on page 63.

Capital ExpenditureThe total capital expenditure on property, plant and equipment by the Chamber and the Group amounted to Rs 6,552,390/-. The movement in property, plant and equipment is given on note no 2.

Events Occurring after the Balance Sheet DateAll material post balance sheet events have been considered, disclosed and adjusted where applicable. (Page 88)

Related Party Transactions The Chamber considers its members of the Standing Committee ‘A’ and members of the Management Committee as the key management personnel. The members of the Standing Committee ‘A’ and members of the Management Committee of the Chamber and the Board of Directors of CCC Solutions (Pvt) Ltd. are considered as the key management personnel of the Group. Details on Note no 32 (Pages 87 & 88)

CommitmentsThere were no commitments outstanding as at the date of the balance sheet.

Contingent liabilitiesThe Chamber has no significant contingent liabilities as at 31 March 2012 which require adjustments to or disclosure in the financial statements.

Statutory PaymentsThe declaration relating to statutory payments is made in the statements given in page 71.

Internal ControlThe Standing Committee ‘A’ acknowledges their responsibility for a sound system of internal control.

Going ConcernThe going concern has been adopted in the preparation of the financial statements after making necessary enquiries and reviews, the management is confident that the Chamber has adequate resources to continue in operational existence for the foreseeable future.

Code of Ethics for BusinessThe Chamber has its own Code of Ethics for Business and a procedure for dealing with complaints.

Environment ProtectionThe Chamber promotes environmental friendly best practices (reduce, reuse and recycle) not only at the Secretariat (Page 53) but also through its projects (Page 44).

Annual General MeetingThe Annual General Meeting will be held at Cinnamon Grand “Oak Room” at 77, Galle Road, Colombo 3, on Tuesday, 24th July 2011 at 5.30 p.m.

Results of Operations The Annual turnover of the Chamber is Rs. 116,323,839/-. Total expenditure before taxation is Rs. 108,033,956/-. The Surplus for the year is Rs. 7,590,965/-.

Accounting PoliciesAccounting policies are on pages 68 to 72.

Corporate Governance


Risk Management Report

Business & Operational Risk

Communication Risk

Financial Risk

Human Risk

Image Risk

Information Response & Validation Risk

Liquidity Risk

Risk Management Report in Identifying and Addressing Uncertainties

Donor Agency on a yearly basis as well as upon completion of the Project, as required.

Human RiskThe Standing Committee ‘A’ is aware of the risk of turnover of staff and the need to recruit qualified and experienced persons to perform the necessary jobs. In recognition of this situation, the Standing Committee ‘A’ introduced a plan for training & career development, as well as, a performance related remuneration scheme. From 2012 a performance based bonus system and the “employee of the year award” was introduced.

Image RiskThe reputation of the Chamber is wholly dependent on the quality of its membership and its services. The membership selection is a comprehensive process in which the audited accounts of the prospective member organisation is scrutinised by a select committee which reports to the Standing Committee ‘A’. The Standing Committee ‘A’ has also developed a ‘Code of Ethics’ which is given to each member organisation. The Chamber also has regular seminars/ workshops/conferences through which it keeps members regularly updated on current developments relevant to industry & business, as well as policy regulations. Members are constantly involved in public & private dialogue through the Chamber.

Information Response & Validation RiskThe Standing Committee ‘A’ is aware of the need to provide up-to-date information when requested by our Stakeholders. The information has to be given immediately on request as well as must be accurate and validated. The Committee has established strong links with the relevant Authorities/Institutions in order to obtain the necessary validated information within a shortest time period for dissemination, as necessary.

Liquidity RiskThe liquidity Risk of the Chamber has been identified as low due to professional financial management systems in place. However, the Chamber Management has term deposits and accumulated funds with recognised Banks, which are monitored regularly and managed accordingly.

The Standing Committee ‘A’ has identified the following risks applicable to the activities of the Chamber:

Business & Operational RiskAt all times the Chamber strives to maintain and ensure quality service to its Members and other Stakeholders. Any loss of reputation with the Membership and other Stakeholders of the Chamber will be detrimental to the standing and the operations of the Chamber. In recognition of its high standards, the Chamber has been awarded UKAS Quality management 014 and is ISO 9001: 2008 certified.

Communication RiskThe Chamber Management and the Committee constantly explores ways to disseminate specific information to the intended sector and predicting the audience’s response to the communication. In order to ensure proper communication to the intended person, databases & mailing lists are regularly updated in consultation with the respective membership as it is one of the main services provided to the Membership and other Stakeholders.

Financial RiskThe Standing Committee ‘A’ has appointed a leading audit firm to carry out internal audits. Annually, a comprehensive audit of the Chamber finances is carried out and it also covers reviews of internal control. This complete programme is believed to cover any risks against frauds. Internal Audits of the projects handled by the Chamber are audited and reported to the relevant


FinancialReports

Independent Auditors’ Report -------------------------------------- 63Balance Sheet--------------------------------------------------------------- 64Statement of Income and Expenditure------------------------- 65Statement of Changes in Funds ----------------------------------- 66Cash Flow Statement --------------------------------------------------- 67Notes to the Consolidated Financial Statements --------- 68


Independent Auditors’ Report

To the Members of The Ceylon Chamber of Commerce

Report on the Financial StatementsWe have audited the accompanying financial statements of the Ceylon Chamber of Commerce (“the Chamber”), and the consolidated financial statements of the Chamber and its subsidiary as at 31 March 2012, which comprise the balance sheet as at 31 March 2012, and the statement of income and expenditure, statement of changes in funds and the cash flow statement for the year then ended, and a summary of significant accounting policies and other explanatory notes, set out on pages 64 to 88 of this Annual Report.

Management’s Responsibility for the Financial StatementsManagement is responsible for the preparation and fair presentation of these financial statements in accordance with Sri Lanka Accounting Standards. This responsibility includes: designing, implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances.

Scope of Audit and Basis of OpinionOur responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Sri Lanka Auditing Standards. Those standards require that we plan and perform the audit to obtain reasonable assurance whether the financial statements are free from material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures

in the financial statements. An audit also includes assessing the accounting policies used and significant estimates made by management, as well as evaluating the overall financial statement presentation.

We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit. We therefore believe that our audit provides a reasonable basis for our opinion.

OpinionIn our opinion, so far as appears from our examination, the Chamber maintained proper accounting records for the year ended 31 March 2012 and the financial statements give a true and fair view of the Chamber’s state of affairs as at 31 March 2012 and its surplus and cash flows for the year then ended in accordance with Sri Lanka Accounting Standards.

In our opinion, the consolidated financial statements give a true and fair view of the state of affairs as at 31 March 2012 and the surplus and cash flows for the year then ended, in accordance with Sri Lanka Accounting Standards, of the Chamber and its subsidiary dealt with thereby, so far as concerns the members of the Chamber.

CHARTERED ACCOUNTANTS

18 June 2012Colombo


Consolidated ChamberAs at 31 March, 2012 2011 2012 2011 Note Rs. Rs. Rs. Rs.

AssetsNon current assetsProperty, plant and equipment 2 36,994,691 35,709,910 34,480,610 32,755,634Intangible assets 3 407,706 728,218 407,706 728,218Investment in subsidiary 4 - - 100,000 10Long term investments 5 36,253,590 34,209,262 36,253,590 34,209,262Deferred tax asset 15 130,743 - - -Total non current assets 73,786,730 70,647,390 71,241,906 67,693,124

Current assetsInventories 6 540,090 568,275 540,090 568,275Receivables 7 13,869,189 6,940,633 13,869,189 6,940,633Amount due from subsidiary - - 631,180 3,318,504Amount due from members of the Management Committee of the Chamber - 626,644 - 626,644Amounts due from affiliated associations 8 1,257,317 345,821 1,257,317 345,821Deposits and prepayments 9 3,051,222 2,148,980 3,051,222 2,148,980Short term investments 10 124,483,731 118,976,326 124,483,731 118,976,326Cash and cash equivalents 11 29,717,714 71,198,941 29,717,714 71,198,941Total current assets 172,919,263 200,805,620 173,550,443 204,124,124Total assets 246,705,993 271,453,010 244,792,349 271,817,248

Funds and liabilitiesFunds attributable to members of the Ceylon Chamber of CommerceCapital reserve 34,911,081 34,911,081 34,911,081 34,911,081General reserve 55,000 55,000 55,000 55,000Long term funds 12 40,483,249 38,640,846 40,483,249 38,640,846Accumulated funds 49,479,312 41,204,029 47,595,781 42,004,816Total funds 124,928,642 114,810,956 123,045,111 115,611,743

Non current liabilitiesDefined benefit plan 13 16,958,618 14,935,149 16,958,618 14,935,149Refundable deposits 14 1,228,310 923,685 1,228,310 923,685Deferred tax liability 15 - 275,226 - -Total non current liabilities 18,186,928 16,134,060 18,186,928 15,858,834

Current liabilitiesPayables 16 52,131,673 97,685,990 52,006,673 97,565,557Deferred income 17 1,639,191 3,278,382 1,639,191 3,278,382Received in advance 18 18,483,294 10,761,876 18,483,294 10,761,876Income tax payable 19 2,511,729 2,930,547 2,606,616 2,889,657Amounts due to affiliated associations 20 24,586,976 23,887,046 24,586,976 23,887,046Bank overdraft 11 4,237,560 1,964,153 4,237,560 1,964,153Total current liabilities 103,590,423 140,507,994 103,560,310 140,346,671Total liabilities 121,777,351 156,642,054 121,747,238 156,205,505Total funds and liabilities 246,705,993 271,453,010 244,792,349 271,817,248

The financial statements are to be read in conjunction with the related notes, which form as an integral part of these financial statements.

The Standing Committee “A” is responsible for the preparation and presentation of these financial statements.

Approved and signed for and on behalf of the Standing Committee ‘A’:

Alikie Perera M H C Malwatte Susantha RatnayakeFinancial Controller Secretary General/CEO Chairman

18 June 2012Colombo

Balance Sheet


Consolidated ChamberFor the year ended 31 March, 2012 2011 2012 2011 Note Rs. Rs. Rs. Rs.

IncomeMembership fees 21 24,828,090 24,407,397 24,828,090 24,407,397Secretarial fees 22 13,781,556 12,788,975 13,781,556 12,788,975Management fees 23 7,359,327 9,084,970 300,000 4,324,058Registration fees 24 17,680,494 17,571,210 17,680,494 17,571,210Rental income 25 17,644,823 15,446,814 17,644,823 15,446,814Interest income (net) 10,522,171 8,752,493 10,522,171 8,725,079Events and seminars (net) 26 12,133,441 10,592,853 11,933,441 10,352,853Other income 27 20,196,217 9,815,224 19,633,264 9,701,117Total income 124,146,119 108,459,936 116,323,839 103,317,503

Less: ExpenditureStaff cost 28 52,446,977 52,805,208 49,220,183 49,091,076Depreciation on property, plant and equipment 3,767,609 3,331,891 3,327,414 2,886,754Amortisation on intangible assets 538,512 513,949 538,512 513,949Other operating expenses 56,629,225 45,739,423 54,915,422 45,183,701Finance cost 29 32,425 37,819 32,425 37,819Total expenditure 113,414,748 102,428,290 108,033,956 97,713,299

Surplus before taxation 30 10,731,371 6,031,646 8,289,883 5,604,204

Income tax expense 31 456,088 1,538,694 698,918 1,207,019

Surplus for the year 10,275,283 4,492,952 7,590,965 4,397,185

Attributable to:Members of the Ceylon Chamber of Commerce 10,275,283 4,492,952 7,590,965 4,397,185


Statement of Income and Expenditure


For the year ended 31 March 2012Consolidated Capital General Long term Accumulated Total reserve reserve funds fund Rs. Rs. Rs. Rs. Rs.

Balance as at 31 March 2010 34,911,081 55,000 35,831,089 38,711,077 109,508,247Increase in long term funds - - 809,757 - 809,757Fund transfer - - 2,000,000 (2,000,000) -Surplus for the year - - - 4,492,952 4,492,952Balance as at 31 March 2011 34,911,081 55,000 38,640,846 41,204,029 114,810,956Decrease in long term funds - - (157,597) - (157,597)Fund transfer - - 2,000,000 (2,000,000) -Surplus for the year - - - 10,275,283 10,275,283Balance as at 31 March 2012 34,911,081 55,000 40,483,249 49,479,312 124,928,642

General Reserve and Capital Reserve are held to fund future needs of the operation which have not been specified.

Chamber Capital General Long term Accumulated Total reserve reserve funds fund Rs. Rs. Rs. Rs. Rs.

Balance as at 31 March 2010 34,911,081 55,000 35,831,089 39,607,631 110,404,801Increase in long term funds - - 809,757 - 809,757Fund transfer - - 2,000,000 (2,000,000) -Surplus for the year - - - 4,397,185 4,397,185Balance as at 31 March 2011 34,911,081 55,000 38,640,846 42,004,816 115,611,743Decrease in long term funds - - (157,597) - (157,597)Fund transfer - - 2,000,000 (2,000,000) -Surplus for the year - - - 7,590,965 7,590,965Balance as at 31 March 2012 34,911,081 55,000 40,483,249 47,595,781 123,045,111


Statement of Changes in Funds


Consolidated ChamberFor the year ended 31 March, 2012 2011 2012 2011 Rs. Rs. Rs. Rs.

Cash flows from operating activitiesSurplus before taxation 10,731,371 6,031,646 8,289,883 5,604,204

Adjustments for:Depreciation on property, plant and equipment 3,767,609 3,331,891 3,327,414 2,886,754Amortisation on intangible assets 538,512 513,949 538,512 513,949Interest income (10,522,171) (8,752,493) (10,522,171) (8,725,079)Profit on sale of property, plant and equipment (464,286) (10,000) (464,286) (10,000)Provision for defined benefit plan 2,317,214 2,524,717 2,317,214 2,524,717Operating profit before working capital changes 6,368,249 3,639,710 3,486,566 2,794,545

Adjustments for working capital changesDecrease in inventories 28,185 744 28,185 744(Increase) / decrease in receivables (6,694,766) 3,932,217 (6,694,766) 3,767,356Decrease in amount due from subsidiary - - 2,687,324 4,964,806Decrease in loans to key management personnel 626,644 266,605 626,644 266,605(Increase) / decrease in amounts due from affiliated associations (911,496) 190,353 (911,496) 190,353Increase in deposits and prepayments (902,242) (289,141) (902,242) (289,141)Decrease in deferred income (1,639,191) (1,639,191) (1,639,191) (1,639,191)(Decrease) / increase in payables (45,554,317) 64,098,789 (45,558,884) 64,077,568Increase / (Decrease) in received in advance 7,721,418 (2,005,887) 7,721,418 (2,005,887)(Decrease) / increase in amounts due to affiliated associations 699,930 648,390 699,930 648,391Cash generated from operations (40,257,586) 68,842,589 (40,456,512) 72,776,149

Refundable deposit received 304,625 - 304,625 -Retiring gratuity paid (293,745) - (293,745) -Income tax paid (1,280,875) (1,181,496) (981,959) (1,149,862)Net cash flows (used in) / generated from operating activities (41,527,581) 67,661,093 (41,427,591) 71,626,287

Cash flow from investing activitiesPurchase of property, plant and equipment (6,552,390) (2,950,519) (6,552,390) (2,888,299)Investment in subsidiary - - (99,990) -Acquisition of intangible assets (218,000) - (218,000) -Proceeds from sale of property, plant and equipment 1,964,286 10,000 1,964,286 10,000Interest income received 10,288,381 8,752,493 10,288,381 8,725,079Increase in long term investments (2,044,328) (2,743,575) (2,044,328) (2,743,575)Investment in short term deposits (5,507,405) (32,176,329) (5,507,405) (36,176,329)Net cash flow from investing activities (2,069,456) (29,107,930) (2,169,446) (33,073,124)

Cash flow from financing activities(Payments ) / receipt of long term funds (157,597) 809,757 (157,597) 809,757Net cash flow from financing activities (157,597) 809,757 (157,597) 809,757

Net (decrease) / increase in cash and cash equivalents (43,754,634) 39,362,920 (43,754,634) 39,362,920Cash and cash equivalents at the beginning of the year 69,234,788 29,871,868 69,234,788 29,871,868Cash and cash equivalents at the end of the year 25,480,154 69,234,788 25,480,154 69,234,788

Analysis of cash and cash equivalents at the end of the yearCash at bank and in hand 29,717,714 71,198,941 29,717,714 71,198,941Bank overdraft (4,237,560) (1,964,153) (4,237,560) (1,964,153) 25,480,154 69,234,788 25,480,154 69,234,788


Cash Flow Statement


1. Accounting policies1.1 Reporting entityThe Ceylon Chamber of Commerce (“the Chamber”) is a service organization incorporated by Ordinance No. 10 of 1895 and domiciled in Sri Lanka. The registered office is located at 50, Navam Mawatha, Colombo 02.

The Consolidated financial statements of the Chamber as at and for the year ended 31 March 2012 comprise the Chamber and its subsidiary (together referred to as the “Group” and individually as “Group entities”).

The chamber does not have an identifiable parent of its own.

1.2 Principal activities and nature of operations

Being a Chamber of Commerce, the Group is primarily involved in promoting, fostering and protecting the commerce of Sri Lanka whilst providing various services including secretarial services, providing trade information and statistics, dispute resolution, endorsing export document i.e. Certificate of Origin, Registration of Barcodes and other services to its membership, Business Councils and Affiliated Associations of the Chamber. The Group is also involved in projects to achieve the objectives inter alia the above and others laid down in the said Ordinance.

1.3 Basis of preparation(a) Statement of complianceThe consolidated financial statements of the Group comprise of the balance sheet, statement of income and expenditure, statement of changes in funds, cash flow statement and notes to the financial statements. These statements have been prepared in accordance with Sri Lanka Accounting Standards (“SLAS”) laid down by the Institute of Chartered Accountants of Sri Lanka.

These consolidated financial statements were authorized for issue by the Standing Committee ‘A’ on 18 June 2012.

(b) Basis of measurementThe consolidated financial statements have been prepared on the historical cost basis. No adjustments have been made for inflationary factors in the financial statements.

(c) Functional and presentation currencyThese consolidated financial statements are presented in Sri Lankan Rupees, which is the Chamber’s functional currency.

(d) Use of estimates and judgmentsThe preparation of consolidated financial statements in conformity with SLAS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and reported amounts of assets, liabilities, income andexpenses. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised if the revision affects only the financial year or in the period of the revision and future periods if the revision affects both current and future financial years.

1.4 Significant accounting policiesThe accounting policies set out below have been applied consistently to all periods presented in these consolidated financial statements and have been applied consistently by Group entities where applicable and deviations if any, have been disclosed accordingly.

(a) Basis of consolidationThe consolidated financial statements comprise of the financial statements of the Ceylon Chamber of Commerce and its subsidiary, CCC Solutions (Pvt) Ltd having a common financial year.

SubsidiariesSubsidiaries are entities that are controlled by the Chamber. Control exists when the Chamber has the power, directly or indirectly, to govern the financial and operating policies of an entity so as to obtain benefits from its activities. In assessing control, potential voting rights, which presently are exercisable or convertible, are taken in to account. The financial statements of subsidiaries are included in the consolidated financial statements from the date that control effectively commences until the date that control effectively ceases.

The accounting policies applied by the subsidiaries are consistent with the policies adopted by the Group.

Notes to the Consolidated Financial Statements


Transactions eliminated on consolidationsIntra-Group TransactionsIntra-group balances and transactions and any unrealised gains and losses or income and expenses arising from intra-group transactions, are eliminated in preparing the consolidated financial statements. Unrealised losses are eliminated in the same way as unrealised gains except that they are only eliminated to the extent that there is no evidence of impairment.

(b) Foreign currency transactionsTransactions in foreign currencies are translated to Sri Lankan Rupees at the foreign exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are translated to Sri Lankan Rupees at the foreign exchange rate ruling at the balance sheet date. Foreign exchange differences arising on translation are recognized in the statement of income and expenditure.

Assets and basis of their valuation(c) Property, plant and equipment(i) Recognition and measurementItems of property, plant and equipment are stated at cost less accumulated depreciation and impairment losses.

CostThe cost of property, plant and equipment comprise its purchase price and any directly attributable cost of bringing the assets to working conditions for its intended use.

Subsequent expenditure incurred for the purpose of acquiring, extending or improving assets of a permanent nature by means of which to carry on the business or to increase the earning capacity of the business has been treated as capital expenditure.

(ii) DepreciationFreehold land is not depreciated. Depreciation is charged on all other Property, plant and equipment on straight line basis.

The estimated useful lives are as follows: YearsBuildings 50Electrical fittings and fixtures 05Furniture and fittings 10Office equipments 05

Computers 03Motor vehicles 05Sundry assets 05

Depreciation of an asset begins when it is available for use and ceases at the earlier of the date that the asset is classified as held for sale and the date that the asset is de-recognised.

The residual values of assets are re-assessed annually.

An item of property, plant and equipment is derecognized upon disposal or when no future economic benefits are in expected from its use. Any gain or loss arising on de-recognition of the assets is included in the statement of income and expenditure in the year the asset is de-recognized.

(d) Intangible assets(i) Basis of recognitionAn intangible asset is recognized if it is probable that future economic benefits that are attributable to the asset will flow to the entity and the cost of the asset can be measured reliably in accordance with the Sri Lanka Accounting Standards – 37 on Intangible Assets. Accordingly, these assets are stated in the balance sheet at cost less accumulated amortization and accumulated impairment losses.

Subsequent expenditureSubsequent expenditure on intangible asset is capitalized only when it increases the future economic benefits embodied in these assets all other expenditure is expensed as incurred.

AmortizationThe useful lives of intangible assets with finite lives are amortized over the useful economic life. The amortization period and the amortization method for an intangible asset with a finite useful life are reviewed at least at each financial year end. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are accounted for by changing the amortization period or method, as appropriate and are treated as changes in accounting estimates. The amortization expense on intangible assets with the finite lives is recognized in the statement of income and expenditure.


Computer softwareComputer software is stated at cost less accumulated amortization. Amortization is done at 33 1/3% per annum on cost.

ImpairmentThe unamortized balances of intangible assets with finite life are reviewed at each balance sheet date for impairment when there is an indication for impairment and recognized as expense in the income statement to the extent that they are no longer probable of the being recovered from the expected future benefits.

Gains or losses arising from de-recognition of an intangible asset are measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognized in the statement of income and expenditure when the asset is de-recognized.

(e) Investments.Investment in SubsidiariesInvestments in Subsidiaries are treated as long - term investments and valued at cost in separate financial statements of the Chamber.

Provision for diminution in value is made when in the opinion of the Committee ‘A’, when there has been a decline other than temporary in the value of the investment.

Other InvestmentsQuoted and unquoted investments in shares are stated at cost, as they are held for long term capital appreciation.

Provision for diminution in value is made in the opinion of the Standing Committee ‘A’, when there has been a decline other than temporary in the value of the investment.

Investments in Government SecuritiesInvestments in treasury bills, treasury bonds and repurchase agreements are stated at cost and interest is accrued up to the year end.

Investments in Fixed DepositsInvestments in Fixed Deposits are stated at cost and interest is accrued up to the year end.

(f) InventoriesInventories have been valued at the lower of cost and net realizable value. Cost in generally

determined by reference to weighted average costs. Net realizable value is the estimated selling price in the ordinary course of business less the estimated selling expense.

(g) ReceivablesReceivables are stated at the amounts estimated to be realised after providing for bad and doubtful debts.

(h) Cash and cash equivalentsCash and cash equivalents comprise of cash in hand, deposits held at call with bank, and investments in money market instruments with a maturity period less than 3 months.

For the purpose of the statements of cash flow, cash and cash equivalents comprise cash in hand, deposits held at call with bank, and investments in money market instruments, net of bank overdrafts. In the balance sheet, bank overdrafts are included in current liabilities.

Cash flow statementCash flow statement has been prepared using the indirect method.

(i) ImpairmentThe carrying amounts of the Group’s assets are reviewed at each balance sheet date to determine whether there is any indication of impairment. If any such indication exists, the asset’s recoverable amount is estimated.

An impairment loss is recognized if the carrying amount of an asset or its cash generating unit exceeds its recoverable amount. Impairment losses are recognized in the statement of income and expenditure.

Impairment losses recognized in respect of cash generating unit are allocated to reduce carrying amount of Group of assets on a pro rata basis.

(j) Liabilities and provisionsLiabilities are recognized in the balance sheet when there is a present obligation as a result of past events, the settlement of which is expected to result in an outflow of resources embodying economic benefits. Obligations payable on demand or within one year of the balance sheet date are treated as current liabilities in the balance sheet. Liabilities payable after one year from the



balance sheet date are treated as non-current liabilities in the balance sheet.

A provision is recognized if, as a result of a past event when the Group has a present legal or constructive obligation that can be estimated reliably, and is probable that an outflow of economic benefits will be required to settle the obligation.

(k) Taxation(i) Income taxationThe provision for current taxation has been computed in accordance with the Inland Revenue Act No. 10 of 2006 and its amendments thereto.

Taxation for the current and previous periods to the extent unpaid is recognized as a liability in the financial statements. When the amount of taxation already paid in respect of current and prior periods exceed the amount due for those periods the excess is recognized as an asset in the financial statements.

(ii) Deferred taxationDeferred tax is recognised using the balance sheet method, providing for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and amounts used for taxation purposes. Deferred tax is not recognized for following temporary differences: the initial recognition of goodwill, the initial recognition of assets or liabilities in transaction that is not a business combination and that affects neither accounting nor taxable profit, the differences relating to investment in subsidiaries and jointly controlled entities to the extent that they probably will not reverse in the foreseeable future. Deferred tax is measured at the tax rates that are expected to apply to the temporary differences when they reverse, based on the laws that have been enacted or substantially enacted at the balance sheet date.

A deferred tax asset is recognized to the extent that it is probable that future taxable profits will be available against which the temporary differences can be utilized. Deferred tax assets are reviewed at each balance sheet date and are reduced to the extent that it is no longer probable that the related tax benefit will be realised.

Deferred tax assets and liabilities recognized by the Group are disclosed separately as assets and

liabilities in the Group balance sheet and are not offset against each other.

(iii) Economic Service ChargeAs per the provisions of the Economic Service Charge Act No 13 of 2006, Economic Service Charge (ESC) is payable on the liable turnover at specified rates. ESC is deductible from the income tax liability. Any unclaimed liability can be carried forward and set off against the income tax payable as per the relevant provisions in the same Act.

(l) Employee benefits(i) Defined contribution planObligations for contributions to a defined contribution plan are recognized as an expense in the statement of income and expenditure as incurred.

The Group contributes a sum not less than 12% of the gross emoluments of employees as provident fund benefits and 3% of trust fund benefits respectively.

(ii) Defined benefit planGratuity is a defined benefit plan. The Chamber is liable to pay gratuity in terms of the relevant statute. In order to meet this liability, a provision is carried forward in the balance sheet, equivalent to an amount calculated based on a half month’s salary of the last month of the financial year of all employees for each completed year of service, commencing from the first year of service.

Provision has been made for retiring gratuities from the first year of service for all employees in conformity with SLAS 16 (revised 2006) –Employee Benefits. However, according to the Payment of Gratuity Act No.12 of 1983, the liability to an employee arises only on completion of 5 years of continued service. The liability is not externally funded nor is it actuarially valued.

(m) Income statement(l) Revenue recognitionRevenue is recognized to the extent that it is probable that the economic benefits will flow to the Group and the revenue and the associated costs incurred or to be incurred can be reliably measured. Revenue is measured at fair value of the consideration received or receivable net of trade discount and sales taxes.


Group revenue represent sales to customers outside the Group and excludes value added tax and intra-group sales.

Revenue represents entrance fees, annual subscription, patron membership subscription, secretarial fees, registration fees on certificate of origin and outside survey reports, seminars, tea lot money and other sales to customers.

The following specific criteria are used for the purpose of recognition of the revenue:

Annual membership subscription is accounted for on an accrual basis.

Surplus/ (deficit) on and other activities are taken to the Statement of Income and expenditure on completion of the activity.

Interest income is accounted for on an accrual basis.

Management fees are charged from projects after the project activities are completed.

Secretarial fees are being charged from the related Associations and Business Councils on accrual basis.

Rental income is the rental for the auction rooms on accrual basis.

Certificate of Origin and Outside Survey Report income are accounted on accrual basis.

(n) ExpensesAll expenditure incurred in the running of the business and in maintaining property, plant and equipment in a state of efficiency has been charged to revenue in arriving at the surplus/ (deficit) for the year.

(o) ProjectsThe income earned and expenses incurred on the projects carried out by the Chamber are not brought to the Chamber and consolidated financial statements.

(p) Comparative informationThe Accounting policies applied by the Group are consistent with those of the prior year, and the prior year figures and phrases have been

rearranged wherever necessary to conform to the current year presentation.

(q) Events occurring after the balance sheet date

All material post balance sheet events have been considered and where appropriate adjustment to or disclosures have been made in the respective notes to the Financial Statements.

(r) Commitments and contingenciesContingencies are possible assets or obligations that arise from a past event and would be confirmed only on the occurrence or non-occurrence of uncertain future events, which are beyond the Group’s control.

Commitments and contingent liabilities are disclosed in Note 33 and 34 to the financial statements.

1.4.1 New Accounting Standards issued but not effective as at balance sheet date

The Institute of Chartered Accountants of Sri Lanka (ICASL) has issued a new volume of Sri Lanka Accounting Standards – 2011, applicable for financial periods beginning on or after 1 January 2012. These new Accounting Standards are prefixed both SLFRS and LKAS which correspond to the relevant IFRS and IAS. These new standards will applicable to the Chamber from 1st April 2012. Disclosure requirement under SLAS 10.30 and 10.31 have been exempted by the ICASL and therefore all differences and impacts arising from the new Standards are not presented in these financial statements.



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Consolidated ChamberAs at 31 March, 2012 2011 2012 2011 Rs. Rs. Rs. Rs.

3 Intangible assetsSoftwareAcquisition costBalance as at 01 April 2011 1,542,000 1,542,000 1,542,000 1,542,000Acquired during the period 218,000 - 218,000 -Balance as at 31 March 2012 1,760,000 1,542,000 1,760,000 1,542,000

AmortisationBalance as at 01 April 2011 813,782 299,833 813,782 299,833Amortisation charged for the year 538,512 513,949 538,512 513,949Balance as at 31 March 2012 1,352,294 813,782 1,352,294 813,782Carrying value 407,706 728,218 407,706 728,218

3.1 Intangible assets consist of a computer operating software system purchased are amortised over a period of 3 years.

4 Investment in subsidiaryUnquoted Percentage holding Number of shares Cost 2012 2011 2012 2011 2012 2011

CCC Solutions (Pvt) Ltd 100% 100% 10,000 1 100,000 10

5 Long term investments 2012 2011 2012 2011 Rs. Rs. Rs. Rs.

Deposits for the long term fundsCCC 160th Anniversary Trust Fund 5,000,000 5,000,000 5,000,000 5,000,000D. S. Jayasundara Memorial Fund 8,794,016 8,749,688 8,794,016 8,749,688CCC Annual Dance Fund 1,600,000 1,600,000 1,600,000 1,600,000VGK Project - Fund 500,001 500,001 500,001 500,001Gateway Project - Fund 800,000 800,000 800,000 800,000Henderson Trust Fund 9,999,999 9,999,999 9,999,999 9,999,999Staff Welfare Fund 437,000 437,000 437,000 437,000Robert Larson Trust Fund 105,000 105,000 105,000 105,000Carey Scholarship Trust Fund (Note 5.1) 17,575 17,575 17,575 17,575CCC Development Fund 8,999,999 6,999,999 8,999,999 6,999,999 36,253,590 34,209,262 36,253,590 34,209,262

5.1 The investment is in the form of 9257 equity shares in Ceylon Investment PLC. The market value of the investment as at 31 March 2012 was Rs.724,823/- (2011: Rs.1,397,807/-).

5.2 The income from the Investments have not been Capitalized but used by the respective funds.



6 InventoriesStationery stock 524,086 551,992 524,086 551,992Maintenance stock 16,004 16,283 16,004 16,283 540,090 568,275 540,090 568,275

7 ReceivablesProjects (Note 7.1) 9,175,029 1,450,433 9,175,029 1,450,433Events (Note 7.2) 148,699 - 148,699 -Other receivables (Note 7.3) 4,545,461 5,490,200 4,545,461 5,490,200 13,869,189 6,940,633 13,869,189 6,940,633

7.1 ProjectsTourism Cluster 725,311 721,461 725,311 721,461NORAD programme 3,643,141 - 3,643,141 -Rainforest Ecolodge (Pvt) Ltd. 4,399,038 712,732 4,399,038 712,732GTZ SAARC Promotion Project 16,240 16,240 16,240 16,240SAARC Trade Portal 391,299 - 391,299 - 9,175,029 1,450,433 9,175,029 1,450,433

7.2 EventsSWITCH Asia Greening Sri LankaHotels Project 148,699 - 148,699 - 148,699 - 148,699 -

7.3 Other receivablesSubscription 367,247 3,553,856 367,247 3,553,856Provision for bad debts (183,417) (2,261,000) (183,417) (2,261,000) 183,830 1,292,856 183,830 1,292,856

Certificate of origin, outside survey report and auction service rental fee 1,914,281 2,007,412 1,914,281 2,007,412Loans to staff 317,843 294,215 317,843 294,215Interest receivable 2,129,507 1,895,717 2,129,507 1,895,717 4,545,461 5,490,200 4,545,461 5,490,200




8 Amounts due from affiliated associations

The Industrial Association of Sri Lanka - 15,395 - 15,395The Ceylon Chamber of Commerce - Import Section - 47,102 - 47,102Exporters’ Association of Sri Lanka 46,950 - 46,950 -Association for International Standards 791,928 85,737 791,928 85,737Sri Lanka - China Business Council - 33,191 - 33,191Sri Lanka - Italy Business Council - 31,738 - 31,738Chartered Institute of Logistics and Transport - 6,005 - 6,005National Agribusiness Council - 2,376 - 2,376Spices & Allied Products Producers’ & Traders Association - 124,277 - 124,277Sri Lanka - Japan Business Co-operation Committee 156,376 - 156,376 -Software Exporters’ Association 127,464 - 127,464 -The Ceylon Motor Traders’ Association 83,930 - 83,930 -The Hotels Association of Sri Lanka 33,608 - 33,608 -Sri Lanka - Poland Business Council 17,061 - 17,061 - 1,257,317 345,821 1,257,317 345,821

9 Deposits and prepaymentsDeposits 1,474,671 1,474,671 1,474,671 1,474,671Prepayments 1,576,551 674,309 1,576,551 674,309 3,051,222 2,148,980 3,051,222 2,148,980

10 Short term investmentsTreasury bills and REPO 67,483,731 57,976,326 67,483,731 57,976,326Fixed deposits 57,000,000 61,000,000 57,000,000 61,000,000 124,483,731 118,976,326 124,483,731 118,976,326

A treasury bill (Ref: OR120126-00103) amounting to Rs.5,000,000/- has been pledged as security against the bank overdraft.


11 Cash and cash equivalentsShort term deposits (Note 11.1) 7,114,804 238,515 7,114,804 238,515Cash at bank (Note 11.2) 21,496,316 70,244,341 21,496,316 70,244,341Cash in hand (Note 11.3) 1,106,594 716,085 1,106,594 716,085 29,717,714 71,198,941 29,717,714 71,198,941Bank overdraft (4,237,560) (1,964,153) (4,237,560) (1,964,153)Net cash and cash equivalents for the purpose of the cash flow statement 25,480,154 69,234,788 25,480,154 69,234,788



11.1 Short term depositsHatton National Bank PLC - Locker Savings 52,534 53,483 52,534 53,483National Savings Bank - The Ceylon Chamber of Commerce 193,722 185,032 193,722 185,032Hongkong & Shanghai Banking Corporation - CCC National Disaster Fund 6,868,548 - 6,868,548 - 7,114,804 238,515 7,114,804 238,515

11.2 Cash at bankStandard Chartered Bank - The Ceylon Chamber of Commerce 1,733,332 426,959 1,733,332 426,959Hatton National Bank PLC - Rainforest Ecolodge Project - 696,368 - 696,368Hatton National Bank PLC - SWITCH Asia project 980,068 4,480,068 980,068 4,480,068Hatton National Bank PLC - Youth BusinessSri Lanka (YBSL) Project 1,985,049 2,496,093 1,985,049 2,496,093Hatton National Bank PLC - The CeylonChamber of Commerce (special) 6,665,722 53,000,794 6,665,722 53,000,794Sampath Bank PLC - The Ceylon Chamber of Commerce 368,902 449 368,902 449Hongkong & Shanghai Banking Corporation -The Ceylon Chamber of Commerce (special) 797,642 491,938 797,642 491,938Hongkong & Shanghai Banking Corporation - CCC National Disaster Fund 314,147 6,814,146 314,147 6,814,146Hatton National Bank PLC - Tourism Cluster 182,924 183,174 182,924 183,174Hongkong & Shanghai Banking Corporation - GTZ SAARC promotion 760 760 760 760Hongkong & Shanghai Banking Corporation - Estate Schools Project - 14,343 - 14,343Hongkong & Shanghai Banking Corporation - The Ceylon Chamber of Commerce 8,467,770 1,639,249 8,467,770 1,639,249 21,496,316 70,244,341 21,496,316 70,244,341

11.3 Cash in handForeign currency float 160,787 363,758 160,787 363,758Petty cash 125,000 352,327 125,000 352,327Cash in hand 820,807 - 820,807 - 1,106,594 716,085 1,106,594 716,085

12 Long term fundsCCC 160th Anniversary Trust Fund 5,000,000 5,000,000 5,000,000 5,000,000D.S. Jayasundara Memorial Fund 8,794,016 8,749,689 8,794,016 8,749,689CCC Annual Dance Fund 1,677,763 1,667,808 1,677,763 1,667,808VGK Project 662,654 628,966 662,654 628,966Gateway Project 1,060,247 1,006,347 1,060,247 1,006,347CCC Development Fund 9,000,000 7,000,000 9,000,000 7,000,000Henderson Trust Fund 13,227,168 13,583,297 13,227,168 13,583,297Staff Welfare Fund 708,644 681,506 708,644 681,506Robert Larson Trust Fund 194,039 211,312 194,039 211,312Carey Scholarship Trust Fund 158,718 111,921 158,718 111,921 40,483,249 38,640,846 40,483,249 38,640,846



13 Employee benefits13.1 Defined contribution plansFollowing contributions have been made to the Mercantile Service Provident Society, Employees’ Provident Fund and Employees’ Trust Fund during the year.


Mercantile Service Provident Society Employers’ contribution 5,917,343 6,471,938 5,917,343 6,451,101 Employees’ contribution 3,982,464 4,245,867 3,982,464 4,200,363Employees’ Provident Fund Employers’ contribution 73,872 210,097 73,872 189,168 Employees’ contribution 55,404 145,590 55,404 131,976Employees’ Trust Fund 1,036,136 1,181,168 1,036,136 1,188,210

13.2 Defined benefit planBalance at the beginning of the year 14,935,149 12,410,432 14,935,149 12,410,432Provision for the year 2,317,214 2,524,717 2,317,214 2,524,717 17,252,363 14,935,149 17,252,363 14,935,149Payments made during the year (293,745) - (293,745) -Balance at the end of the year 16,958,618 14,935,149 16,958,618 14,935,149

Provision has been made for retiring gratuity from the first year of service for all employees. However, under the Payment of Gratuity Act No. 12 of 1983, the liability to an employee arises only on completion of 5 years of continued service. The liability is not externally funded nor is it actuarially valued.

13.3 Number of employeesNumber of employees of the Chamber as at 31 March 2012 was 83 (2011: 84).


14 Refundable depositsLibrary / tender deposits 140,685 140,685 140,685 140,685Staff security deposit 1,029,625 725,000 1,029,625 725,000Deposit - Certificate of Origin / Outside Survey Report 58,000 58,000 58,000 58,000 1,228,310 923,685 1,228,310 923,685

15 Deferred taxation15.1 Deferred tax asset / (liability)Balance at the beginning of the year (275,226) - - -Reversal / (Charged) during the year 405,969 (275,226) - -Balance at the end of the year 130,743 (275,226)

The Chamber’s investment income has been higher than the business profits in the past and Chamber expects a similar pattern in the future. Hence, the tax liability has been directly derived from the


investment income at 10% (2011: 20%) continually, and not on the Chamber’s profits. Therefore, there will not be any origination or reversal of temporary differences.

However, if the Chamber starts earning business profits over investment income, the Chamber and Group would have a deferred tax liability of Rs.653,140/- (2011 - Rs. 4,166,381/-) and Rs. 977,415/- (2011 - Rs. 4,441,607/-) respectively.


Deferred tax liabilities 2,445,738 8,785,258 2,349,002 8,510,032Deferred tax assets (1,468,323) (4,343,651) (1,695,862) (4,343,651) 977,415 4,441,607 653,140 4,166,381

15.2 Unrecognized deferred tax assets and liabilitiesDeferred tax assets and liabilities are attributable to the following: Assets Liabilities Net 3/31/2012 3/31/2012 3/31/2012 Rs. Rs. Rs.

15.2.1 ChamberProperty, plant and equipment - 2,349,002 2,349,002Employee benefits (1,695,862) - (1,695,862)Net tax (assets)/liabilities (1,695,862) 2,349,002 653,140

15.2.2 ConsolidatedProperty, plant and equipment - 2,349,002 2,349,002Employee benefits (1,695,862) - (1,695,862)Net tax (assets)/liabilities (1,695,862) 2,349,002 653,140


16 PayablesProjects (Note 16.1) 17,883,451 17,855,648 17,883,451 17,855,648Events (Note 16.2) 13,370,758 65,801,966 13,370,758 65,801,966Other payables (16.3) 20,877,464 14,028,376 20,752,464 13,907,943 52,131,673 97,685,990 52,006,673 97,565,557

16.1 ProjectsCCC National Disaster Fund (Note 16.4) 4,167,986 3,799,437 4,167,986 3,799,437CCC National Disaster Fund - UNDP 2,854,229 2,854,229 2,854,229 2,854,229VGK project 124,905 124,905 124,905 124,905NIAAT Project 29,500 29,500 29,500 29,500GAP Project 570,369 570,369 570,369 570,369Web Portal Trade Information 48,400 48,400 48,400 48,400Norad Project - 2,255,487 - 2,255,487NSA - Youth Integration 1,470,254 - 1,470,254 -




16.1 Projects Contd.YBSL 900,782 1,139,216 900,782 1,139,216Public Awareness Programme 81,427 81,427 81,427 81,427Orphan Sponsorship Programme 25,417 25,417 25,417 25,417Green Building - Contract fee 1,640,602 1,260,392 1,640,602 1,260,392Career Guidance Programme 1,291,941 1,291,941 1,291,941 1,291,941Gateway Project 77,919 77,919 77,919 77,919Chamber Trust Seal 132,109 132,109 132,109 132,109UNFPA Project 437,518 437,518 437,518 437,518SENCE Project 49,175 49,175 49,175 49,175HR&Edu Stea com School Project 98,750 98,750 98,750 98,750REDI Project 1,623,812 826,548 1,623,812 826,548SAARC Trade Portal - 494,553 - 494,553Trade Promotion Project 2,258,356 2,258,356 2,258,356 2,258,356 17,883,451 17,855,648 17,883,451 17,855,648

16.2 EventsSWITCH Asia - SCP Project 3,876,797 6,325,130 3,876,797 6,325,130Greening Sri Lanka - 53,501,762 - 53,501,762South Europe Meets South Asia (SEMSA) Project 319,048 319,048 319,048 319,048CORE Programme - The Ceylon Chamber of Commerce 9,174,913 5,656,026 9,174,913 5,656,026 13,370,758 65,801,966 13,370,758 65,801,966

16.3 Other payablesCACCI fund 409,363 409,363 409,363 409,363VAT payable 1,312,113 1,262,384 1,312,113 1,262,384CCC 165 years Historical Review 410,221 410,221 410,221 410,221India Desk - 47,523 - 47,523Salary payable 3,100,720 3,017,606 3,100,720 3,017,606Provision for Cost of Living Gratuity 123,001 123,001 123,001 123,001CCC Dinner Dance 10,435 10,435 10,435 10,435Payable for software - 172,704 - 172,704SWITCH Asia project expenses 5,592,877 - 5,592,877 -Accrued expenses 9,918,734 8,575,139 9,793,734 8,454,706 20,877,464 14,028,376 20,752,464 13,907,943

16.4 CCC National Disaster Fund is maintained by the Ceylon Chamber of Commerce to rehabilitate people affected by national disasters.



17 Deferred incomeBalance at the beginning of the year 3,278,382 4,917,573 3,278,382 4,917,573Transferred during the year (1,639,191) (1,639,191) (1,639,191) (1,639,191)Balance at the end of the year 1,639,191 3,278,382 1,639,191 3,278,382

Deferred income is related to funds transferred from CCC Consulting Services (Pvt) Ltd during the year ended 31 March 2010 , and are credited to statement of income and expenditure as income on a straight line basis over 3 years.


18 Received in advanceSurveyor’s registration fees 574,821 263,461 574,821 263,461Subscription 11,210,527 10,278,009 11,210,527 10,278,009Patron membership 1,697,946 220,406 1,697,946 220,406Sponsorship-Economic Summit-2012 5,000,000 - 5,000,000 - 18,483,294 10,761,876 18,483,294 10,761,876

19 Income tax payableBalance at the beginning of the year 2,930,547 2,832,501 2,889,657 2,832,501Provision for the year 862,057 1,263,468 698,918 1,207,019Payments made during the year (1,280,875) (1,165,422) (981,959) (1,149,863)Balance at the end of the year 2,511,729 2,930,547 2,606,616 2,889,657

20 Amounts due to affiliated associations

Industrial Association of Sri Lanka 752,794 - 752,794 -The Ceylon Chamber of Commerce - The Import Section 1,050,494 - 1,050,494 -Exporters’ Association of Sri Lanka - 5,541 - 5,541Global Standards 1 (GS1) 6,290,816 8,783,009 6,290,816 8,783,009IATA Agents Association of Sri Lanka (International Air Transportation Association) 122,241 69,504 122,241 69,504National Agribusiness Council 41,110 - 41,110 -Pacific Asia Travel Association (Sri Lanka) Chapter 365,832 532,574 365,832 532,574Software Exporters Association - 175,235 - 175,235Spices & Allied Products Producers’ & Traders’ Association 112,948 - 112,948 -Chartered Institute of Logistics and Transport 362,745 - 362,745 -Sri Lanka - Africa and Middle East Business Council 605,893 545,403 605,893 545,403Balance carried forward 9,704,873 10,111,266 9,704,873 10,111,266




20 Amounts due to affiliated associations (contd.)

Balance brought forward 9,704,873 10,111,266 9,704,873 10,111,266

Sri Lanka-Australia- New Zealand Business Council 316,588 397,306 316,588 397,306Sri Lanka- Benelux Business council 110,646 50,621 110,646 50,621Sri Lanka - China Business Council 565,832 - 565,832 -Sri Lanka - France Business Council 244,634 270,147 244,634 270,147Sri Lanka - Germany Business Council 227,274 122,462 227,274 122,462Sri Lanka - Indonesia Business Council 44,894 49,526 44,894 49,526Sri Lanka - Japan Business Co-operation Committee - 187,384 - 187,384Sri Lanka - Malaysia Business Council 4,069,585 56,571 4,069,585 56,571Sri Lanka - Nordic Business Council 136,038 81,029 136,038 81,029Sri Lanka - Pakistan Business Council 43,278 114,356 43,278 114,356Sri Lanka - Poland Business Council - 9,221 - 9,221Sri Lanka - Singapore Business Council 61,346 130,251 61,346 130,251Sri Lanka Association of Inbound Tour Operators 3,266,763 1,839,951 3,266,763 1,839,951Sri Lanka Ceramics Council 399 1,509,835 399 1,509,835The Ceylon Motor Traders’ Association - 1,730,215 - 1,730,215The Council for Business with Britain 152,524 94,348 152,524 94,348Travel Agents Association of Sri Lanka 588,134 213,374 588,134 213,374Tourist Hotels Association of Sri Lanka - 422,755 - 422,755The Colombo Tea Traders’ Association 2,261,293 2,907,757 2,261,293 2,907,757The Colombo Rubber Traders’ Association 501,012 386,729 501,012 386,729Indo Lanka Chamber of Commerce & Industry 105,461 104,026 105,461 104,026Sri Lanka - Canada Business Council 123,337 65,780 123,337 65,780Sri Lanka - Italy Business Council 77,448 - 77,448 -Sri Lanka - Russia Business Council 282,121 63,648 282,121 63,648Sri Lanka Pharmaceutical Manufacturers’ Association 63,224 107,641 63,224 107,641Sri Lanka - Korea Economic Co-operation Committee 251,194 90,169 251,194 90,169Sri Lanka - Vietnam Business Council 245,451 84,084 245,451 84,084Sri Lanka - Maldives Bilateral Business Council 138,504 401,618 138,504 401,618Sri Lanka Institute of Directors - 691,338 - 691,338Sri Lanka Shippers’ Council 1,005,123 1,593,638 1,005,123 1,593,638 24,586,976 23,887,046 24,586,976 23,887,046



21 Membership feesEntrance fees 120,000 130,900 120,000 130,900Subscription income 23,330,550 22,813,777 23,330,550 22,813,777Patron membership fee 1,377,540 1,462,720 1,377,540 1,462,720 24,828,090 24,407,397 24,828,090 24,407,397

22 Secretarial feesSecretarial fees - Affiliated associations and business councils 10,565,222 9,777,138 10,565,222 9,777,138Secretarial fees - Other 2,766,855 2,482,974 2,766,855 2,482,974Affiliation fees 449,479 528,863 449,479 528,863 13,781,556 12,788,975 13,781,556 12,788,975

23 Management feesSWITCH Asia Project- Greening Sri Lanka Hotel Project - 2,682,373 - 2,682,373SWITCH Asia Project - Food & Beverage - 1,191,738 - 1,191,738YBSL Project 300,000 419,020 300,000 419,020Other projects - 30,927 - 30,927Consultancy fee 7,059,327 4,760,912 - - 7,359,327 9,084,970 300,000 4,324,058

24 Registration feesCertificate of origin 14,204,509 14,020,409 14,204,509 14,020,409Outside survey report 3,020,917 3,215,791 3,020,917 3,215,791Survey registration fee 455,068 335,010 455,068 335,010 17,680,494 17,571,210 17,680,494 17,571,210

25 Rental incomeRoom hire income 723,632 567,050 723,632 567,050Auctions service rental fee 15,322,609 13,645,064 15,322,609 13,645,064Hall hire income 1,003,232 639,350 1,003,232 639,350Rent income - GS1 595,350 595,350 595,350 595,350 17,644,823 15,446,814 17,644,823 15,446,814




26 Events and seminars (net)Imexpro 2008 - 1,870 - 1,870Sri Lanka Economic Summit 9,177,275 7,088,601 9,177,275 7,088,601Best Corporate Citizen Awards (240,234) 153,885 (240,234) 153,885Seminars 2,496,400 2,885,768 2,496,400 2,885,768Special events 700,000 462,729 500,000 222,729 12,133,441 10,592,853 11,933,441 10,352,853

27 Other incomeDirectory of members 879,366 213,675 879,366 213,675Sale of publications 1,704,130 1,966,836 1,704,130 1,966,836Profit on sale of property, plant and equipment 464,286 10,000 464,286 10,000Photocopier (net) 534,780 474,503 534,780 474,503Digital printing 277,375 222,975 277,375 222,975Economic Intelligence Unit 2,253,060 573,126 2,253,060 573,126Trade fair unit - 493,489 - 493,489Business council 507,713 1,386,567 507,713 1,386,567GS1 income 8,000,000 - 8,000,000 -Tea passes 1,733,732 1,570,602 1,733,732 1,570,602Deferred Income 1,639,191 1,639,191 1,639,191 1,639,191Sundry income 2,202,584 1,264,260 1,639,631 1,150,153 20,196,217 9,815,224 19,633,264 9,701,117

28 Staff costSalaries, wages and other related expenses 42,880,009 43,239,083 39,875,616 39,524,951Defined benefit plan costs - retiring gratuity 2,317,214 2,524,717 2,317,214 2,524,717Defined contribution plan costs 7,249,754 7,041,408 7,027,353 7,041,408 52,446,977 52,805,208 49,220,183 49,091,076

Staff cost amounts to Rs. 26,070,607/- (2011: Rs. 28,070,607/-) has been reimbursed by funds of projects handled by the Ceylon Chamber of Commerce.


29 Finance costInterest on bank overdraft 32,425 37,819 32,425 37,819



30 Surplus before taxationSurplus before taxation is stated after charging all the expenses including the following:Bad debts written-off - 2,036,064 - 2,036,064Auditors’ remuneration - Audit fee 228,000 194,500 150,000 126,500Economic Intelligence Unit 2,385 3,560 2,385 3,560Management committee’s emolument 22,107,189 20,214,062 18,880,395 17,926,562

31 Income tax expense31.1 Current tax expenseCurrent period 880,186 1,260,610 698,918 1,207,019(Over) / under provision in respect of prior periods (18,129) 2,858 - -Deferred tax (reversal)/ originating during the year (405,969) 275,226 - - 456,088 1,538,694 698,918 1,207,019

31.2“In terms of the Inland Revenue Act No. 10 of 2006 and amendments thereto, where an association receives more than half its receipts by way of entrance fees and subscriptions from persons who claim or would be entitled to claim that such sums were allowable deductions for the purpose of section 25, such body of person shall be deemed to carry on a business, and the whole of its income from transactions both with members and others (including entrance fees and subscriptions) shall be deemed to be receipts from a business, and the body of persons shall be liable to income tax either in respect of the profits there from or in respect of the investment income which ever is higher. Applicable tax rate is 10%.“

Since more than half of the Chamber’s gross receipts by way of entrance fees and subscriptions have been received from members who are entitled to claim such sums under Section 25 of the Inland Revenue Act No. 10 of 2006 and amendments thereto, it is deemed in terms of Section 101 (2) to be carrying on a business. Therefore, the tax of the Chamber is computed on the higher of its business or investment income and is liable to income tax at 10% (2011: 20%).


31.3 Reconciliation of the accounting profit and income tax expense

Surplus before taxation 10,731,371 6,031,646 8,289,883 5,604,204Disallowable expenses 6,965,839 6,617,632 6,521,790 5,935,420Allowable expenses (2,494,455) (2,142,779) (1,933,446) (1,581,770) 15,202,755 10,506,499 12,878,227 9,957,854Interest income (net) (10,522,171) (8,752,493) (10,522,171) (8,725,079)Tax adjusted trade income 4,680,584 1,754,006 2,356,056 1,232,775Interest income (gross) 11,690,079 9,724,992 11,690,079 9,416,453Interest subject to WHT (4,700,899) (3,381,357) (4,700,899) (3,381,357) 6,989,180 6,343,635 6,989,180.0 6,035,096Income tax 880,186 1,260,610 698,918 1,207,019Income tax on current year profits 880,186 1,260,610 698,918 1,207,019



The income tax is charged at the following rates:

2012 2011

The Ceylon Chamber of Commerce 10% 20%CCC-Solutions (Pvt) Ltd 12% 15%

32 Related party transactions32.1 Transactions with key management personnelThe Chamber considers its members of the Standing Committee ‘A’ and members of the Management Committee as the key management personnel.

The members of the Standing Committee ‘A’ and members of the Management Committee of the Chamber and the Board of Directors of CCC Solutions (Pvt) Ltd. are considered as the key management personnel of the Group. Compensation paid to key management personnel are as follows:


Short term employee benefits 22,107,189 20,214,062 18,880,395 17,926,562 22,107,189 20,214,062 18,880,395 17,926,562

The details of transactions relating to key management personnel with the Chamber were as follows:

Balance Balance Transaction Transaction outstanding outstanding Name of key amount amount as at 31 as at 31 management Nature 2012 2011 March 2012 March 2011 personnel of transaction Rs. Rs. Rs. Rs.

M.A.T Perera Loan repayments during the year 179,166 50,000 - 179,166A Waniganayake Loan repayments during the year 58,333 50,000 - 58,333D.V Chandraratne Loan repayments during the year - 393,750 - - Interest paid - 9,115 -L de Mel Loan granted during the year - 336,145 - 389,145 Loan repayments during the year 389,145 109,000 - -

The Chamber granted interest free loans with a repayment period of five years to the above management committee members, except for D.V.Chandraratne, for who the interest was charged at 14%. The above loans were fully settled during the year ended 31 March 2012.

32.2 Transactions with related partiesThe Ceylon Chamber of Commerce carries out transactions in the ordinary course of business with parties who are defined as related parties as per Sri Lanka Accounting Standard No. 30 - Related Party Disclosures.

Mr. Suresh Shah, Mr.M.H.C.Malwatte, Ms.Alikie Perera and Mr. S. Ratnayake, who are directors of the CCC Solutions (Pvt) Ltd are also members of the Standing Committee “A” of the Ceylon Chamber of Commerce.


32.2 Transactions with related parties (Cont.)The aggregate value of transactions relating to entities over which key management personnel have control or significant influence over were as follows:

outstanding outstanding Transaction Transaction as at as at Name of the Nature of amount amount 31 March 31 March Company transaction 2012 2011 2012 2011 Rs. Rs. Rs. Rs.

631,180 3,318,504CCC Solutions (Pvt) Ltd Expense - Consultation fee (4,038,912) (4,312,912) - Profile Submission (2,395,825) - - Investment income - (27,414) - Other (823,847) (802,000) - Upliftment of treasury bills - (4,164,861) - Share capital (99,990) -

Income - Staff emoluments 3,226,794 3,521,626 - Purchase of fixed assets - 62,219 - Traveling expenses 522,791 - - Other expenses 921,665 758,525

33 CommitmentsThere were no commitments outstanding as at the date of the balance sheet.

34 Contingent liabilitiesThe Chamber has no significant contingent liabilities as at 31 March 2012 which require adjustments to or disclosure in the financial statements.

35 Litigations and claimsThere are no litigations or claims against the Chamber or its subsidiary as at the balance sheet date.

36 Comparative informationComparative figures have been rearranged wherever necessary to confirm to the current year’s presentation and classification.

37 Events occurring after the balance sheet dateThere were no material events occurring after the balance sheet date which require adjustments to or disclosures in the financial statements.

38 Standing Committee’s responsibilityThe Standing Committee ‘A’ is responsible for the preparation and presentation of these financial statements in accordance with Sri Lanka Accounting Standards.



Ten Year Summary

Year ended 31 March 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000

OPERATIONAL RESULTSIncome 116,324 103,318 97,786 109,572 98,946 82,580 78,947 70,577 58,060 55,440Depreciation on Property, Plant & Equipment 3,327 2,887 3,028 2,925 2,827 3,810 4,478 6,976 4,673 3,405Surplus before taxation 8,290 5,604 10,436 6,768 4,665 4,486 3,806 2,635 1,395 2,289Income tax expenses 699 1,207 2,362 3,537 1,787 1,072 (989) 881 - 500Surplus after taxation 7,591 4,397 8,074 3,231 2,878 3,414 2,817 1,754 1,395 1,789

RESERVESAccumulated fund 47,596 42,005 39,608 36,534 33,302 30,435 27,021 24,205 22,450 21,055Capital Reserves 34,911 34,911 34,911 34,911 34,911 34,911 34,911 34,911 34,911 34,911General Reserves 55 55 55 55 55 55 55 55 55 55Long term funds 40,483 38,641 35,831 28,987 24,816 22,436 21,090 10,278 10,180 9,289

LIABILITIESCurrent liabilities 103,560 140,347 77,440 64,804 57,733 30,834 36,822 34,032 34,174 13,348Non - Current Liabilities 18,187 15,858 13,139 15,422 13,669 11,873 10,049 8,741 8,400 7,211

ASSETSProperty, Plant & Equipment 34,481 32,756 32,754 35,043 32,278 34,170 36,893 38,812 44,470 48,024Intagible assets 408 728 1,242 - - - - - - -Current Assets 173,550 204,124 135,522 120,256 110,361 74,725 71,908 63,078 55,451 28,472

RATIOSCurrent ratio 1.68 1.45 1.75 1.86 1.91 2.42 1.95 1.85 1.62 2.13

Certain figures relating to previous years have been re-stated to conform with the accounting standards adopted in the current year


Summary Financials - Balance Sheet

As at 31 March, FY 2009 FY 2010 FY 2011 FY 2012 Currency LKR

AssetsNon current assetsProperty, plant and equipment 35,043,362 32,754,087 32,755,634 34,480,610Intangible assets - 1,242,167 728,218 407,706Investment in subsidiaries - 10 10 100,000Long term investments 25,413,217 31,465,686 34,209,262 36,253,590 60,456,579 65,461,950 67,693,124 71,241,906Current assetsInventories 424,218 569,019 568,275 540,090Receivables 17,682,962 11,601,239 7,567,277 13,869,189Amount due from subsidiary - 8,283,320 3,318,504 631,180Amounts due from affiliated associations 1,409,217 536,176 345,821 1,257,317Deposits and prepayments 1,933,947 1,859,839 2,148,980 3,051,222Short term investments 65,489,902 82,799,997 118,976,326 124,483,731Cash and cash equivalents 34,661,102 29,872,068 71,198,941 29,717,714 121,601,348 135,521,658 204,124,124 173,550,443Total assets 182,057,927 200,983,608 271,817,248 244,792,349

Funds and liabilitiesFundsCapital reserves 34,911,081 34,911,081 34,911,081 34,911,081General reserves 55,000 55,000 55,000 55,000Long term funds 28,987,478 35,831,089 38,640,846 40,483,249Accumulated fund 36,533,691 39,607,631 42,004,816 47,595,781 100,487,250 110,404,801 115,611,743 123,045,111Non current liabilitiesDefined benefit plan 14,808,190 12,410,432 14,935,149 16,958,618Refundable deposits 613,685 728,685 923,685 1,228,310 15,421,875 13,139,117 15,858,834 18,186,928Current liabilitiesPayables 40,656,620 33,682,997 97,565,557 52,006,673Deferred income - 4,917,573 3,278,382 1,639,191Received in advance 5,889,334 12,767,763 10,761,876 18,483,294Income tax payable 1,952,958 2,832,501 2,889,657 2,606,616Amounts due to affiliated associations 14,899,141 23,238,656 23,887,046 24,586,976Bank overdraft 2,750,749 200 1,964,153 4,237,560 66,148,802 77,439,690 140,346,671 103,560,310Total liabilities 81,570,677 90,578,807 156,205,505 121,747,238Total funds and liabilities 182,057,927 200,983,608 271,817,248 244,792,349


Summary Financials - Income Statement

For the year ended 31 March, FY 2009 FY 2010 FY 2011 FY 2012 Currency LKR

Revenue 99,513,721 91,773,889 93,616,386 96,690,575Other income 10,058,099 6,012,490 9,701,117 19,633,264Gross revenue 109,571,820 97,786,379 103,317,503 116,323,839Expenses 102,795,323 87,317,869 97,675,480 108,001,531Finance expenses 8,580 32,973 37,819 32,425Surplus before taxation 6,767,917 10,435,537 5,604,204 8,289,883Income tax expense 3,536,724 2,361,597 1,207,019 698,918Surplus for the year 3,231,193 8,073,940 4,397,185 7,590,965


Revenue Composition

Revenue Break Up

For the year ended 31 March, FY 2009 FY 2010 FY 2011 FY 2012 Currency LKR

Membership fees 21,095,683 23,615,011 24,407,397 24,828,090Secretarial fees 11,027,794 11,435,414 12,788,975 13,781,556Management fees 9,716,565 4,394,606 4,324,058 300,000Registration fees 18,408,851 16,442,734 17,571,210 17,680,494Rental income 11,580,523 14,288,477 15,446,814 17,644,823Interest income 15,915,259 10,910,208 8,725,079 10,522,171Events and seminars 11,769,046 10,687,439 10,352,853 11,933,441Other income 10,058,099 6,012,490 9,701,117 19,633,264 109,571,820 97,786,379 103,317,503 116,323,839YOY growth (%) 11 (11) 6 13

Membership fees Secretarial feesManagement feesRegistration feesRental incomeInterest incomeEvents and seminarsOther income

Revenue composition

0

20,000,000

60,000,000

100,000,000

140,000,000

(LKR ‘000)

FY 2009 FY 2010 FY 2011 FY 2012

40,000,000

80,000,000

120,000,000

24%

12%

4%

17%

15%

8%

10%

9%

Revenue 2011 (%)


21%

12%

15%15%

9%

10%

17%

Revenue 2012 (%)



Revenue Growth Analysis

Income as a % of Revenue

FY 2009 FY 2010 FY 2011 FY 2012 % % % %

Membership fees 19 24 24 21Secretarial fees 10 12 12 12Management fees 9 4 4 0Registration fees 17 17 17 15Rental income 11 15 15 15Interest income 15 11 8 9Events and seminars 11 11 10 10Other income 9 6 9 17

Growth Analysis

FY 2010 FY 2011 FY 2012 Average % % % %

Membership fees 12 3 2 4Secretarial fees 4 12 8 6Management fees (55) (2) (93) (24)Registration fees (11) 7 1 (1)Rental income 23 8 14 13Interest income (31) (20) 21 (8)Events and seminars (9) (3) 15 0Other income (40) 61 102 24


Non-Current Assets

Non-Current Assets - Extract

As at 31 March FY 2009 FY 2010 FY 2011 FY 2012

Property, plant and equipment (Rs.) 35,043,362 32,754,087 32,755,634 34,480,610YOY growth (%) 9 (7) 0 5

Non-Current Assets - Extract

As at 31 March FY 2009 FY 2010 FY 2011 FY 2012

Long term investments (Rs.) 25,284,437 31,465,686 34,209,262 36,253,590YOY growth (%) 16 24 9 6

Property, Plant & Equipment

0

5,000,000

15,000,000

25,000,000

40,000,000

35,000,000

LKR

FY 2009 FY 2010 FY 2011 FY 2012

10,000,000

20,000,000

30,000,000

Long- Term Investments

0

5,000,000

15,000,000

25,000,000

40,000,000

35,000,000

LKR

FY 2009 FY 2010 FY 2011 FY 2012

10,000,000

20,000,000

30,000,000


Equity and Reserves

Equity and Reserves

FY 2010 FY 2011 FY 2012 Currency LKR

Capital reserves 34,911,081 34,911,081 34,911,081General reserves 55,000 55,000 55,000Long term funds 35,831,089 38,640,846 40,483,249Accumulated fund 38,711,077 42,004,816 47,595,781 109,508,247 115,611,743 123,045,111

Balance Sheet - Extract

As at 31 March, FY 2009 FY 2010 FY 2011 FY 2012 Currency LKR

Non current assets 60,456,579 65,461,950 67,693,124 71,241,906

Net current assetsCurrent assets 121,601,348 135,521,658 204,124,124 173,550,443Current liabilities 66,148,802 77,439,690 140,346,671 103,560,310 55,452,546 58,081,968 63,777,453 69,990,133

Non current liabilities 15,421,875 13,139,117 15,858,834 18,186,928

Net assets 100,487,250 110,404,801 115,611,743 123,045,111

30%

33%

36%

Funds as at 31st march 2011 (%)

Capital reservesLong term funds Accumulated fund

28%

33%

39%

Funds as at 31st march 2012 (%)

Capital reservesLong term funds Accumulated fund

Net Assets

0

20,000,000

60,000,000

100,000,000

140,000,000

LKR

FY 2009 FY 2010 FY 2011 FY 2012

40,000,000

80,000,000

120,000,000


StakeholdersThe word “stakeholder” has become more commonly used to mean a person or organization that has a legitimate interest in a project or entity and can affect or be affected by the actions of the business or organiza-tion. When considering the many factions that are involved during the decision-making process, the concept has been broadened to include everyone with an interest (or ‘stake’) in what the entity does. In creating value for these stakeholders, we attempt to maximize joint outcomes so that many parties benefit from our exceptional work in the field.


Patron Members 2011/2012

1. A Baur & Company (Private) Limited

2. Abans (Pvt) Ltd.

3. Asia Power (Pvt) Ltd.

4. Associated Motorways (Private) Limited

5. AVIVA NDB Insurance PLC

6. Ceylon Tobacco Company PLC

7. CIC Holdings PLC

8. Delmege Group of Companies

9. Finlays Colombo PLC

10. Hatton National Bank PLC

11. Hayleys PLC

12. Hemas Holdings PLC

13. John Keells Holdings PLC

14. KPMG Ford, Rhodes, Thornton & Company

15. Lion Brewery (Ceylon) PLC

16. Mackwoods Ltd.

17. Maliban Biscuit Manufactories (Pvt) Ltd.

18. McLarens Holdings Limited

19. National Development Bank PLC

20. Nestlé Lanka PLC

21. PricewaterhouseCoopers

22. Sampath Bank PLC

23. Tea Tang (Pvt) Limited

24. The Capital Maharaja Organisation Limited

25. Unilever Sri Lanka Ltd.

Stakeholders


Affiliated Members of the Chamber (Regional/ Other Chambers of Commerce) 2011/2012

Member Year of Election

Hambantota District Chamber of Commerce July 1993

Chamber of Commerce & Industry of Central Province July 1993

Women’s Chamber of Industry & Commerce July 1993

Wayamba Chamber of Commerce & Industry June 1996

Sabaragamuwa Province Chamber of Commerce & Industry January 1998

American Chamber of Commerce in Sri Lanka September 1998

Chamber of Commerce & Industry of Uva Province November 1999

Matara District Chamber of Commerce & Industry December 2000

Chamber of Commerce and Industry of Yalpanam June 2003

Galle District Chamber of Commerce & Industry January 2004

Matara Women’s Chamber of Commerce & Industries January 2004

The Chamber of Commerce & Industries Trincomalee District June 2005

The Business for Peace Alliance August 2007

Ceylon National Chamber of Industries October 2008

Batticaloa District Chamber of Commerce & Industry December 2008

Matale District Chamber of Commerce Industry & Agriculture November 2009

Anuradhapura District Chamber of Commerce Industry & Agriculture August 2010

Nuwara Eliya District Chamber of Commerce Industry & Agriculture September 2010

Vavuniya District Chamber of Commerce Industry & Agriculture November 2010

Mannar District Chamber of Commerce Industry & Agriculture November 2010

Sri Lanka Chamber of the Pharmaceutical Industry January 2012

Chairmen and Secretaries 1839-2011

Year Chairman Secretary1839 Joseph Reed Stephen Vertue1840 J. Armitage H. Richie1841 J. Armitage H. Richie1842 No records No records1843 No records No records1844 J. Reed F. Lambe1845 H.I. Layard F. Lambe1846 J. Armitage J. Stewart1847 Geo Ackland W. Thompson1848 Geo Ackland W. Thompson1849 H. Richie J. Swan1850 J. Swan R. Dawson1851 R. Dawson J.L. Kier1852 R. Nicol E.J. Darley1853 C. Shand S. Butler1854 J.M. Robertson Binny Scott1855 E.J. Darley Thos Dickson

Year Chairman Secretary1856 R. Dawson R. Nicol1857 R. Dawson E. Ormiston1858 J.M. Robertson E. Ormiston1859 R. Nicol R.D. Alston1860 Binny Scott J.C. Fowlie1861 Binny Scott J.C. Fowlie1862 C. Shand Jas Reid1863 Alex Gibson Stephan Darley1864 Alfred Wise F.A. Plump1865 Alfred Wise S.T. Richmond

S.T. Richmond J.S. Armitage1866 S.T. Richmond J.R. Hedges

Geo Wall J.R. Hedges1867 Geo Wall J.R. Hedges

S.T. Richmond W.W. Mitchell1868 S.T. Richmond W.W. Mitchell

W.W. Mitchell G .B. Leechman

Stakeholders


Year Chairman Secretary1869 W.W. Mitchell G.B. Leechman

J.T. White G.B. Leechman1870 J.T. White G.B. Leechman

Geo Wall F.W. Bois1871 Geo Wall F.W. Bois

Lawrence J Mercer

F.W. Bois

1872 S.T. Richmond E.C. Britton1873 S T Richmond B. Grindrod

J.T. White E.C. Britton1874 J.T. White E.C. Britton

Geo Wall C.E.H. Symons1875 Geo Wall C.E.H. Symons

G.B. Leechman C.E.H. Symons1876 G.B. Leechman C.E.H. Symsons

W.W. Mitchell C.E.H. Symons1877 W.W. Mitchell C.E.H. Symons

B.G. Leechman C.E.H. Symons1878 B.G. Leechman C.E.H. Symons

Geo Wall T. Helmer1879 Geo Wall T. Helmer

F. Newman T. Helmer1880 G.B. Leechman C.E.H. Symons

J. Northmore C.E.H. Symons1881 J. Northmore C.E.H. Symons

W.W. Mitchell C.E.H. Symons1882 W.W. Mitchell C.E.H. Symons1883 W.W. Mitchell C.E.H. Symons1884 Henry Bois C.E.H. Symons1885 Henry Bois C.E.H. Symons

J.G. Wardrop C.E.H. Symons1886 Henry Bois C.E.H. Symons1887 Henry Bois C.E.H. Symons

G.B. Leechman C.E.H Symons1888 W.W. Mitchell C.E.H. Symons

F.W. Mackwood C.E.H. Symons1889 F.W. Mackwood C.E.H. Symons

J.G. Wardrop C.E.H. Symons1890 J.G. Wardrop C.E.H. Symons

J.H. Renton C.E.H. Symons1891 W.B. Paterson C.E.H. Symons

Henry Bois C.E.H. Symons1892 Henry Bois C.E.H. Symons

R.L.M. Brown C.E.H. Symons1893 F.W. Bois C.E.H. Symons

W.W. Mitchell C.E.H. Symons1894 J.H. Renton C.E.H. Symons

Year Chairman Secretary1895 A. Thompson C.E.H. Symons

F.M. Mackwood C.E.H. Symons1896 F.M. Mackwood C.E.H. Symons1897 F.M. Mackwood C.E.H. Symons

W.H. Figg C.E.H. Symons1898 W.H. Figg C.E.H. Symons1899 W.H. Figg R.W. Nunn

F.M. Mackwood R.W. Nunn1900 F.M. Mackwood R.W. Nunn

Stanley Bois F.W. Waldock1901 Stanley Bois F.W. Waldock1902 Stanley Bois F.W. Waldock1903 Stanley Bois F.W. Waldock

W.H. Figg F.M. Simpson1904 W.H. Figg F.M. Simpson1905 W.H. Figg F.M. Simpson

R. Davidson F.M. Simpson1906 R. Davidson F.M. Simpson

Alex Fairlie F.M. Simpson1907 Alex Fairlie F.M. Simpson1908 Alex Fairlie F.M. Simpson1909 Alex Fairlie F.M. Simpson

R.F.S. Hardie F.M. Simpson1910 R.F.S. Hardie F.M. Simpson1911 R.F.S. Hardie F.M. Simpson

Sir Stanley Bois, K.T.

F.M. Simpson

W.Shakespeare, Actg.

F.M. Simpson

1912 Stanley Bois, K.T.

F.M. Simpson

W. Moir F.M. Simpson1913 W. Moir F.M. Simpson1914 W. Moir F.M. Simpson

J. Thompson Broom

F.M. Simpson

1915 Sir J. Thompson Broom, K.T.

F.M. Simpson

Herbert Bois F.M. SimpsonW. Moir F.M. Simpson

1916 W. Moir F.M. SimpsonF.M. Simpson F.M. Simpson

1917 Sir J. Thompson Broom, K.T.

F.M. Simpson

A. Marshall, Actg.1918 J. Lochore A. Duncum1919 J. Lochore A. Duncum

F.E. Mackwood A. Duncum


Year Chairman Secretary1920 B.W. Leele A. Duncum

J. Lochore A. Duncum1921 J. Lochore A. Duncum

C.S. Burns A. Duncum1922 C.S. Burns A. Duncum

A. Duncum1923 E.J. Hayward,

C.E.B., VDC.F. Whitaker

1924 E.J. Hayward, C.E.B., VD

C.F. Whitaker

1925 E.J. Hayward, C.E.B., VD

C.F. WhitakerJohn B. Murray, Actg.

1926 J.A. Wall C.F. Whitaker1927 J.A. Wall C.F. Whitaker1928 S.P. Hayley C.F. Whitaker1929 S.P. Hayley C.F. Whitaker

M.J. Cary John Hood, Actg.1930 M.J. Cary C.F. Whitaker1931 M.J. Cary C.F. Whitaker1932 J.A. Tarbat C.F. Whitaker1933 J.A. Tarbat C.F. Whitaker

J.W. Oldfield, C.M.G., O.B.E.

T.W. Hardstaff, Actg.

H.G.P. Maddocks, Actg.


G.K. Stewart, M.Sc., Actg.


1934 J.A. Tarbat C.F. Whitaker1935 J.A. Tarbat C.F. Whitaker1936 J.A. Tarbat C.F. Whitaker


C.F. Whitaker

1937 Sir John Tarbat, K.T.

C.F. Whitaker

J.A. Clubb, Actg.

C.F. Whitaker


C.F. Whitaker


C.F. Whitaker

O.R. Scott, Actg.

C.F. Whitaker

1940 L.P. Samson C.F. Whitaker1941 L.P. Samson C.F. Whitaker1942 L.P. Larson C.F. Whitaker1943 N.O.C. March C.F. Whitaker1944 N.O.C. March C.F. Whitaker

Year Chairman Secretary1945 R.J. Hartley C.F. Whitaker

J.A. Clubb, Actg.

O.R. Scott, Actg.

Sir John Tarbat, K.T.

S.A. Pakeman, Actg.


S.A. Pakeman, Actg.

J.A. Clubb, Actg.

C.F. Whitaker


C.F. Whitaker

John Hood, Actg.

C.F. Whitaker

1948 J.A. Clubb (Jan-Mar)

C.F Whitaker

Col. O.B. Forbes, C.E.B., E.D., John Hood, Actg.

C.F. Whitaker

1949 D. Doig, C.A. C.F. Whitaker1950 D. Doig, C.A.

(Jan-Sep)C.F. Whitaker

T.C. Jackson, M.C. (May-Oct) Actg.

B. Hay. M.A., Asst. Secy.

John R. Murray, C.A. (Nov-Dec)


John R. Murray, C.A. (Jan-Mar)

C.F. Whitaker

1951 G. Griffin, O.B.E., M.C., E.D. (Apr-Nov)

B. Hay, M.A., Asst. Secy.

John R. Murray, C.A. (Nov-Dec)


1952 John R. Murray, C.A., M.P.

C.F. Whitaker (Jan-Sep)

B. Hay, M.A. (Oct-Dec)

C.F. Whitaker

C. Dias, J.P., M.A. (Cantab),LL.B., Bar-at-LawAsst. Secy. (from 8.9.52)

C.F. Whitaker

Stakeholders


Year Chairman Secretary1953 John R. Murray,

C.A., M.P. (Jan-Apr)

B. Hay, M.A.

R.P.L. Ross (Apr-Nov)

C. Dias, J.P., M.A. (Cantab),LL.B., Bar-at-Law, Asst. Secy.

John R. Murray, C.A., M.P. (Nov-Dec)

C. Dias, J.P., M.A. (Cantab),LL.B., Bar-at-Law, Asst. Secy.


B. Hay, M.A. (Jan-July)

H.T. Clayton (Jan-Mar)

C. Dias J.P., M.A. (Cantab)LL.B., Bar-at-LawAsst. Secy. (Jan-July)Secretary (from 22.7.54)


C. Dias, J.P., M.A. (Cantab), LL.B., Bar-at-Law

R.P.L. Ross, J.P. (Mar-Dec)

S. Sivaguru B.A. (Cey.)Asst. Secy. (July-June)W.M. Mendis, B.A. (Cey.)Asst. Secy. (July-Dec)

1956 R.P.L. Ross, J.P. (Jan-Mar)

C. Dias, J.P., M.A. (Cantab),LL.B., Bar-at-Law

E. Turner Green, J.P., F. C.A.

W.M. Mendis, B.A. (Cey.)Asst. Secy.

1957 E. Turner Green, F.C.A. (Jan-Mar)


N.C. Alock (Mar-Dec)

W.M. Mendis, B.A. (Cey.)Asst. Secy.

1958 N.C. Alock C. Dias, J.P., M.A. (Cantab),LL.B., Bar-at-LawW.M. Mendis, B.A. (Cey.)Asst. Secy.

1959 S.T.L. de Soysa C. Dias, J.P., M.A. (Cantab),LL.B., Bar-at-LawW.M. Mendis, B.A. (Cey.)Asst. Secy.

Year Chairman Secretary1960 S.T.L. de Soysa C. Dias, J.P., M.A.

(Cantab),LL.B., Bar-at-LawW.M. Mendis, B.A. (Cey)Asst. Secy.

1961 S.T.L. de Soysa (Jan-Mar)


E. Turner Green, F.C.A. (Mar-Dec)

S.S. Jayawickrama,B.A. (Cantab), Asst. Secy.(from 1.3.61)

1962 E. Turner Green, F.C.A. (Jan-Mar)


J.D. Mould (Mar-Dec)

S.S. Jayawickrama, B.A. (Cantab),Asst. Secy.

1963 J.D. Mould C. Dias, J.P., M.A. (Cantab),LL.B., Bar-at-LawS S Jayawickrama, B.A. (Cantab),Asst.Secy.

1964 J.D. Mould (Jan-Mar)


M.E. Wijesinghe (Apr-Dec)

S.S. Jayawickrama,B.A. (Cantab), Asst. Secy.

1965 M.E. Wijesinghe C. Dias, J.P., M.A. (Cantab),LL.B., Bar-at-LawS.S. Jayawickrama, B.A. (Cantab)Asst. Secy.

1966 M.E. Wijesinghe C. Dias, J.P., M.A. (Cantab),LL.B., Bar-at-LawS.S. Jayawickrama, B.A. (Cantab)Asst. Secy.


Year Chairman Secretary1967 M.E. Wijesinghe C. Dias, J.P., M.A.

(Cantab),LL.B., Bar-at-LawS.S. Jayawickrama, B.A. (Cantab),Asst. Secy.

1968 M.E. Wijesinghe C. Dias, J.P., M.A. (Cantab),LL.B., Bar-at-LawS.S. Jayawickrama, B.A. (Cantab),Asst. Secy.

1969 M.E. Wijesinghe C. Dias, J.P., M.A. (Cantab),LL.B., Bar-at-LawS.S. Jayawickrama, B.A. (Cantab),Asst. Secy.

1970 M.E. Wijesinghe (Jan-Apr)

C. Dias, J.P., M.A. (Cantab),LL.B., Bar-at-LawS.S. Jayawickrama, B.A. (Cantab),Asst. Secy.

Eardley de Silva (Apr-Dec)

C. Dias, J.P., M.A. (Cantab),LL.B., Bar-at-LawS.S. Jayawickrama, B.A. (Cantab),Asst. Secy.

1971 Eardley de Silva C. Dias, J.P., M.A. (Cantab),LL.B., Bar-at-LawS.S. Jayawickrama, B.A. (Cantab),(Jan-July) Asst. Secy.

1972 Eardley de Silva C. Dias, J.P., M.A. (Cantab),LL.B., Bar-at-LawS.S. Jayawickrama,B.A. (Cantab), Asst. Secy.

Year Chairman Secretary1973 Eardley de Silva C. Dias, J.P., M.A.

(Cantab),LL.B., Bar-at-LawS.S. Jayawickrama, B.A. (Cantab)Asst. Secy.

P.C.S. Fernando (Apr-Dec)

C. Dias, J.P., M.A. (Cantab),LL.B., Bar-at-LawS.S. Jayawickrama, B.A. (Cantab)Asst. Secy.

1974 P.C.S. Fernando C. Dias, J.P., M.A. (Cantab), LL.B.,Bar-at-LawS.S. Jayawickrama, B.A. (Cantab)Asst. Secy. (Jan-Sep)Deputy Secy. (from 25.9.74)

1975 P.C.S. Fernando (Jan-Apr)

C. Dias J.P., M.A. (Cantab), LL.B.,Bar-at-LawS.S. Jayawickrama, B.A. (Cantab)Deputy Secy.

V.L. Wirasinghe (Apr-Dec)

C. Dias J.P., M.A. (Cantab), LL.B.,Bar-at-LawS.S. Jayawickrama, B.A. (Cantab)Deputy Secy.

1976 V.L. Wirasinha C. Dias, J.P., M.A. (Cantab), LL.B.,Bar-at-LawS.S. Jayawickrama, B.A. (Cantab)Deputy Secy.

Stakeholders


Year Chairman Secretary1977-78

V.L. Wirasinha (Jan-Jul)

C. Dias, J.P., M.A. (Cantab), LL.B.,Bar-at-LawS.S. Jayawickrama B.A. (Cantab)Deputy Secy.

Desamanya C.P. de Silva, F.C.A. (Jan-Jul)

C. Dias, J.P., M.A. (Cantab), LL.B.,Bar-at-LawS.S. Jayawickrama B.A. (Cantab)Deputy Secy.

1978-79

Desamanya C.P. de Silva, F.C.A.

C. Dias, J.P., M.A. (Cantab),LL.B., Bar-at-Law (untiI 11.2.79)S.S. Jayawickrama, B.A. (Cantab),Secy. (from 12.2.79)Deputy Secy. (until 11.2.79)

1979-80

Desamanya C.P. de Silva, F.C.A. (Jan-Jul)

S.S. Jayawickrama, B.A. (Cantab)

L.S. Jayawardena (Jul-Mar)

S.S. Jayawickrama, B.A. (Cantab)

1980-81

L.S. Jayawardena

S.S. Jayawickrama, B.A. (Cantab)J.N.S. Motha, B.Sc. (Cey)Snr. Asst. Secy. (from 1.10.80)

1981-82

L.S. Jayawardena (Jan-Jul)

S.S. Jayawickrama, B.A. (Cantab)J.N.S. Motha, B.Sc. (Cey.)Snr. Asst. Secy.

P.A. Silva (Jul-Mar)

J.N.S. Motha, B.Sc. (Cey.)Snr. Asst. Secy.

1982-83

P.A. Silva S.S. Jayawickrama, B.A. (Cantab)J.N.S. Motha, B.Sc. (Cey.)Snr. Asst. Secy.

1983-86

D.S. Jayasundera

S.S. Jayawickrama, B.A. (Cantab)J.N.S. Motha, B.Sc. (Cey.)Snr. Asst. Secy. (untiI 29.3.85)


G.S. Chatoor (from July 86 to July 89)

S.S. Jayawickrama, B.A. (Cantab)Secy. General (from Dec. 87)

1989-92

A.M. de S. Jayaratne(from July 89 to July 92)

S.S. Jayawickrama, B.A. (Cantab)(up to March 92)C.G. Jayasuriya,Actg. Secy. General (from 1.4.92)Secy. General (from 1.8.92)

1992-94

H.S. de Silva (from July 92 to July 94)

C.G. Jayasuriya, Secy. General

1994-96

A.C. Gunasinghe(from July 94 to July 96)

C.G. Jayasuriya, Secy. General

1996-98

Desamanya M. Selvanathan(from July 96 to July 98)

C.G. Jayasuriya, M.C.I.T.Secy. GeneralM. Atton, Deputy Secy. General (from 1.9.96)

1998-00

Desamanya K. Balendra(from July 98 to July 2000)

C.G. Jayasuriya, M.C.I.T.Secy. GeneralM. Atton, Deputy Secy. General

2000-02

C. Jayaratne, F.C.A.,F.C.M.A(from July 2000 to July 2002)

C.G. Jayasuriya, M.C.I.T.Secy. GeneralM. Atton, Deputy Secy. General

2002-04

Deshabandu Tilak de Zoysa(from July 2002 to July 2004)

Renton de Alwis, Secy.General/CEO(from July 2002 - March 2003)Prema Cooray MBA,CMA, HCIMASecy. General/CEO (from April 2003)M. Atton, Deputy Secy. General

2004-06

Desamanya Deva Rodrigo, F.C.A

Prema Cooray MBA,CMA,HCIMAM.Atton, Deputy Secy.General



Mr. Mahen Dayananda(from July 2006 to July 2008)

Prema Cooray MBA,CMA,HCIMASecretary General/CEO

Lt. Col Harin Malwatte, (Retd) U.S.P RSP, FCMIChief Operating Officer (From 1.1. 2008)M. Atton, Deputy Secy. General

2008-09

Mr. J D Bandaranayake

Prema Cooray MBA,CMA,HCIMASecy. General/CEO(up to 31.12.2008)Lt. Col Harin Malwatte, (Retd) U.S.P,RSP,FCMI Chief Operating Officer (up to 31.12.2008)Secretary General/CEO (From 1.1.2009)M. Atton, Deputy Secy. General

2009-11

Dr.Anura Ekanayake

Lt. Col Harin Malwatte (Retd) U.S.P,RSP,FCMISecretary General/CEOMr. M Atton, Deputy Secy. General(up to 31.12.2009)Ms. Alikie PereraDeputy Secretary General/Financial Controller(From 1.1.2010)

2011–12

Mr. Susantha Ratnayake

Lt. Col Harin Malwatte (Retd.) U.S.P,RSP,FCMISecretary General/CEOMs. Alikie PereraDeputy Secretary General/Financial Controller

Stakeholders


Office Bearers and Committee for the year 2011/2012As notified at the Annual General Meeting held on 28th July 2011** and with subsequent changes up to 31st March 2012

Office BearersMr. Susantha Ratnayake - ChairmanMr. Suresh Shah - Vice ChairmanMr. Samantha Ranatunga - Deputy Vice Chairman

Committee 2011/2012

Nominations under Rule 8(ii) (a)Trade SectionThe Import Section, The Ceylon Chamber of Commerce

Mr. Kevin Edwards

Approved AssociationsExporters’ Association of Sri Lanka Mrs. Dawn Austin

Mr. Rohan Daluwatte (Alternate)

The Colombo Tea Traders’ Association Mr. Jayantha KeragalaMr. Vish Govindasamy (Alternate)

The Colombo Rubber Traders’ Association Mr. Sunil Poholiyadde

The Coconut Products Manufacturers’ & Exporters’ Association

Mr. Harin J. de Silva

Ceylon Coir Fibre Exporters’ Association Mr. Randolph PereraMr.Wasaba Jayasekera (Alternate)

The Planters’ Association of Ceylon Mr. S. K. L. ObeyesekereMr. Roshan Rajadurai(Alternate)

The Ceylon Motor Traders’ Association Mr. Tilak GunasekeraMr. Senani Perera (Alternate)

The Colombo Brokers’ Association Mr. Sarath SirisenaMr. Naren Dambawinne (Alternate)

The Finance Houses Association of Sri Lanka Mr. Hafeez Rajudin (Up to 31st January 2012)Mr. Kamal Jayantha Yatawara (From 1st February (2012)

Tourist Hotels Association of Sri Lanka Mr. J. KehelpannalaMr. Asoka Hettigoda( Alternate)

The Ceylon Association of Ships’ Agents Mr. Nimal Ranchigoda

Mr. Ralph Anandappa (Alternate)

The Spices & Allied Products Producers’ and Traders’ Association

Mr. S. A. Cader

Sri Lanka Apparel Exporters’ Association Mr. Kumar MirchandaniMr. Noel Priyatillake (Alternate)

Sri Lanka Association of Manufacturers & Exporters of Rubber Products

Mr. Saifuddin Jafferjee

The Industrial Association of Sri Lanka Mr. Sarath C. Weerasooriya


Sri Lanka Shippers’ Council Mr. Gehan KuruppuMr. Dinesh De Silva (Alternate)

Insurance Association of Sri Lanka Mr. Ramal JasingheMr. Prakash Schaffter (Alternate)

Sri Lanka Freight Forwarders’ Association Mr. Niral KadawatharachieMr. S. Mohanadas (Alternate)

Sri Lanka Apparel Sourcing Association Mr. Ajith Chandana Weerasinghe

The Sri Lanka Pharmaceutical Manufacturers’ Association

Mrs. S. Sivayogarajan

National Construction Association of Sri Lanka Mr. Rohan Tudawe

Travel Agents Association of Sri Lanka Mr. Trevor Rajaratnam

The Consumer Electronics & Domestic Appliances Association of Sri Lanka

Mr. Nimesh Udeshi

The Institute for the Development of Commercial Law & Practice

Mr. S. S. WijeratneMs. Hemamali Amarasinghe (Alternate)

Sri Lanka Insurance Brokers Association Mr. Joachim CasperszMr. Sunil P. Siyasena (Alternate)

The Leasing Association of Sri Lanka Mr. Sanjeewa BandaranayakeMr. Jayantha Rangamuwa (Alternate) (Up to 31st Jan.2012)Mr.Nishaman KarunapalaMr. Jithendra Gunetilleke (Alternate) (From 1st Feb.2012)

Tea Exporters Association Mr. Dai PathmanathanMr. Chandana de Silva (Alternate)(Up to 31st Aug.2011)Mr. Niraj De MelMr. Dai Pathmanathan (Alternate)(From 1st Sept.2011)

Sri Lanka Association of Inbound Tour Operators Ms. Shiromal CoorayMr. Ravi Subramaniam (Alternate)

Federation of the Information Technology Industry Sri Lanka

Mr. Udaya de SilvaMr. B. S. Lakmal (Alternate)

Software Exporters’ Association Mr. Mano Sekaram

Sri Lanka Ceramics Council Mr. Sunil G. Wijesinha

Association of Laminated Flexible Packaging Manufacturers

Mr. Anton HemanthaMr. Kithsiri Wijesundera (Alternate)

Sri Lanka Gem & Jewellery Association Mr. Ashan RefaiDeshabandu Macky Hashim(Alternate)

Sri Lanka Association of Air Express Companies Mr. Jerome Brohier (Up to 31st Oct. 2011)Mr. Dimithri PereraMr. Jerome Brohier (Alternate) (From 1st Nov.2011)

National Agribusiness Council Mr. Rizvi Zaheed

Stakeholders


Rule 8 (ii) (b)Ms. Nirmali SamaratungaMr. Krishan BalendraMr. Sriyan de Silva WijeyeratneMs. Vidyani Hettigoda

Mr. Mahesh WijewardenaMr. Ravi DiasMr. Husein EsufallyMr. Anushman Rajaratnam

Ms. Amali NanayakkaraMr. Manjula de SilvaMr. Vish GovindasamyMr. Amanda Weerasinghe

Rule 8 (ii) (c)Mr. J. M. S. BritoMr. Mohan PandithageMr. Pravir SamarasingheMr. W. K. H. Wegapitiya

Mr. Abbas EsufallyMr. Samantha RanatungaMr. Suresh Shah

Mr. N. R. GajendranMr. Susantha RatnayakeMr. Rajendra Theagarajah

Rule 8(ii) (d)Dr. Parakrama DissanayakeMr. Kumar JayasuriyaMs. Premila PereraProf. L. R. Watawala

Mr. Amal CabraalMr. Sujeewa MudaligeMr. Faizal Salieh

Mr. Duminda HulangamuwaMr. Ronnie PeirisMr. Asite Talwatte

Rule 8 (ii) (e) (Past Chairmen )Mr. G S ChatoorDesamanya Ken BalendraDesamanya Deva RodrigoDr.Anura Ekanayake

Deshabandu A. M. de S. JayaratneMr. Chandra JayaratneMr. Mahen Dayananda

Desamanya Mano SelvanathanDeshabandu Tilak De ZoysaMr. J. D. Bandaranayake

Regional/ Other Chambers of CommerceHambantota District Chamber of Commerce Mr. M. A.Thassim

Mr. Suresh De Mel (Alternate)

American Chamber of Commerce in Sri Lanka Mr. Priyantha Malavi

Chamber of Commerce & Industry of Central Province

Mr. Asoka Abeywickrema

Women’s Chamber of Industry & Commerce Ms. Saroshi DubashMs. Vidyani Hettigoda (Alternate)

Wayamba Chamber of Commerce & Industry Mr. T. M. RazeekMr. Gamini Senanayake(Alternate)

Sabaragamuwa Province Chamber of Commerce & Industry

Mr. C. J. GunaseelaMr. Dharshaka Rupasinghe(Alternate)

Chamber of Commerce & Industry of Uva Province

Mr. Ajith M. S. P. WaththuhewaMr. M. I. M Pathulla (Alternate)

Matara District Chamber of Commerce & Industry Mr. R. G. HewabowalaMr. M. Vidanagamarachchi (Alternate)

Galle District Chamber of Commerce & Industry Capt. W. S. WijayarathneMr. L. Walpitagamage (Alternate)

Matara Women’s Chamber of Commerce & Industries

Mrs. K. Wimali Ratnayake

Chamber of Commerce and Industry of Yalpanam Mr. K. Mahadevasivam

The Chamber of Commerce & Industries of Trincomalee District

Mr. B. UthayashankarMr. D. Jayaweera (Alternate)


The Business for Peace Alliance Mr. K. C. Suwarneraj

The Ceylon National Chamber of Industries Mr. Gamini GunasekeraMr.Kumara Kandalama(Alternate)

Batticaloa District Chamber of Commerce Industry & Agriculture

Mr. V. RanjithamoorthyMr. K. Kugathesh (Alternate)

Matale District Chamber of Commerce, Industry & Agriculture

Mr. Shantha de Silva

Anuradhapura District Chamber of Commerce, Industry & Agriculture

Mr. P. B. Dissanayake

Nuwara Eliya District Chamber of Commerce, Industry & Agriculture

Mr. N. Hettiarachchi

Vavuniya District Chamber of Commerce, Industry & Agriculture

Mr. K. C. SuwarnerajMr. M. Sureshkumar(Alternate)

Mannar District Chamber of Commerce, Industry & Agriculture

Mr. Mark Reginold

Sri Lanka Chamber of the Pharmaceutical Industry Mr. Stuart Chapman

By InvitationDeshamanya C. P. de Silva - Honorary Member

Mr. J. C. Ratwatte - Sri Lanka Business Development Centre

Mr. Ravi Peiris - Employers’ Federation of Ceylon

Mr. Prema Cooray - CCC Solutions (Private) Ltd

Mr. Sujith Haridas - Confederation of Indian Industries (Southern Regional Head quarters)

Stakeholders


Chamber Representation on Other BodiesFor 2011/2012 Annual ReportInternational Chamber of CommerceMr. Harin Malwatte (from January 2009)

Sri Lanka Council for Agricultural Research Policy Ministry of Agriculture Development & Agrarian ServicesMr. B. R. L. Fernando

Sri Lanka Shippers’ CouncilMr. Russel Juriansz (Representative)

The Mercantile Service Provident SocietyMr. C. .L K. P. Jayasuriya (from January 2009Mr. S. C. Ratnayake (from July 2008 to August 2011)Mr. A. N. EsufallyMr. S. P. S. Ranatunga (from January 2009 to date)Mr. Suresh ShahMr. Nihal Fonseka (18th January 2012 to date)

Henderson Trust FundDr. Anura EkanayakeMr. Susantha Ratnayake (from August 2008)Mr. Suresh Shah (from August 2009)Mr. Samantha Ranatunga

Board of Management of the Postgraduate Institute of ManagementDr Anura Ekanayake (31st March 2011 - 31st July 2011)Mr. Susantha Ratnayake (1st August 2011 to date)

Food Advisory CommitteeMinistry of Healthcare & NutritionMr. Delano Dias

Committee on Food AdvisoryInterest Group of the Food SectorDr. Sanath Mahavithanage

The Employers’ Federation of CeylonMr. Harin Malwatte

Indian Ocean Rim Association for Regional Cooperation – National Contact PointIndian Ocean Rim Business ForumMr. Harin Malwatte

National Council for Economic Development (NCED) - Tourism ClusterMr. Prema Cooray

National Council for Economic Development (NCED) - Software & ICT ClusterMr. Mano Sekaram

Accounting Standards Committee of the Institute of Chartered Accountants of Sri LankaMr. Faizal Salieh

Sri Lanka Accounting & Auditing Standards Monitoring BoardMs. Nilanthi Sivapragasam

Distance Learning CenterMs. Alikie PereraMr. Faizal Salieh

Board of Governors of the Sri Lanka National Arbitration CenterMr. G. S. Chatoor

Member of the Tertiary & Vocational Education CommissionMr. Isuru Thilakawardena

ILO Sri Lanka - HIV/AIDS Work Place Education Project Advisory BoardMr. Harin Malwatte (from January 2009)

National Labour Advisory CouncilMr. Isuru Thilakawardena

National Council for EldersMinistry of Social Services & Social WelfareDeshabandu Tilak de Zoysa

Legal ForumCentral Bank of Sri LankaMr. J. D. BandaranayakeDr. Anura EkanayakeMs. Varuni SilvaMs. Ayomi Aluvihare-GunawardenaMr. J. Charitha RatwatteMs. Dilani AlagarathnamMr. Naomal Goonewardena

Advisory Committee for Professional Services SectorSri Lanka Export Development BoardMs. Alikie Perera

JobsNet - The National Employment Sourcing and Delivery SystemMr. Harin Malwatte (March 2009 to date)


Grants Board of the ICT Capacity Building ProgramMr. Prema Cooray

Board of Management of the Sri Lanka Sustainable Energy AuthorityMr. Parakrama Jayasinghe

Policy Advisory Committee (PAC)Sri Lanka Accreditation BoardMs. Subhashini Abeysinghe

Presidential Task Force on English & ITMs. Alikie Perera

Tripartite National Committee on Social SecurityMinistry of Labour Relations & ManpowerMr. Isuru Thilakawardena

Steering Committee on the Technical Education Development ProjectMr. Chandrarathna Vithanage

USAID – CORE Advisory BoardMr. Harin Malwatte

Council of Management of the Institution for the Development of Commercial Law & Practice (ICLP)Mr. Harin Malwatte

Board of the ICLP Arbitration CentreMr. R. L. Juriansz

EEPEX Project of EU Switch Asia Monitoring CommitteeMr. Srilal Miththapala

Consumer Consultative CommitteePublic Utilities Commission of Sri LankaMr. Srilal Miththapala

Project Management Committee of the Switch Asia ProjectGreening Sri Lanka HotelsMr. Harin Malwatte

Advisory Committee of the National Cleaner Production Centre (NCPC)Phase 2Mr. Srilal Miththapala

National Cleaner Production Centre (NCPC)Steering CommitteeMr. Dilantha Seneviratne (from May 2009)

Chairman of the Board of Directors of SLBDCMr. Mahen Dayananda

Sri Lanka Council for Agricultural Research Policy (CARP)Ministry of Agricultural Development & Agrarian ServicesMr. Asoka Gopallawa (14th July 2012 - 28th February 2012)Mr. Rizvi Zaheed (1st March 2012 to date)

Advisory Committee of the Sri Lanka Transport BoardMr. Anil Goonetillake

Joint Committee appointed by the Institute of Chartered Accountants of Sri Lanka to review the Sri Lanka Code on Takeovers & MergersHon. S. S. Wijeratne

National Disaster Management Co-ordinating Committee of the Ministry of Disaster ManagementMr. Harin Malwatte

National Aid – For – Trade CommitteeMs. Subhashini Abeysinghe

Board of Directors of Condominium Management AuthorityMr. Rohan Tudawe

Joint Consultative CommitteeLicensing Regime for Freight Forwarders & NVOCCMr. Dinesh de Silva

Board of Management of the Centre for Economic Research & Industrial Policy AnalysisMs. Subhashini Abeysinghe

Stakeholders


Trade Associations01 Association for International Standards02 Exporters’ Association of Sri Lanka03 GS1 Sri Lanka04 IATA Agents Association of Sri Lanka 05 Industrial Association of Sri Lanka06 Pacific Asia Travel Association (Sri Lanka)

Chapter07 Software Exporters’ Association08 Spices & Allied Products Producers’ &

Traders’ Association09 Sri Lanka Association of Inbound Tour

Operators10 Sri Lanka Ceramics Council11 Sri Lanka Pharmaceutical Manufacturers’

Association12 Sri Lanka Shippers’ Council13 The Ceylon Motor Traders’ Association14 The Colombo Rubber Traders’ Association15 The Colombo Tea Traders’ Association16 The Import Section - The Ceylon Chamber of

Commerce17 The Hotels Association of Sri Lanka - Change

of name with effect from 04/08/201118 Travel Agents Association of Sri Lanka19 National Agribusiness Council 20 Chartered Institute of Logistics & Transport21 Sri Lanka Institute of Directors - Ceased

Secretarial Services with effect from 01/04/2011

Bilateral Business Councils01 Sri Lanka - Africa and Middle East Business

Council02 Sri Lanka - Australia - New Zealand Business

Counci03 Sri Lanka - Benelux Business Council04 Sri Lanka - Canada Business Council05 Sri Lanka - China Business Council06 Sri Lanka - France Business Council07 Sri Lanka - Germany Business Council08 Sri Lanka - Indonesia Business Council09 Sri Lanka - Italy Business Council10 Sri Lanka - Japan Business Co-operation

Committee11 Sri Lanka - Korea Economic Co-operation

Committee12 Sri Lanka - Malaysia Business Council13 Sri Lanka - Maldives Bilateral Business

Council14 Sri Lanka - Nordic Business Council15 Sri Lanka - Pakistan Business Council16 Sri Lanka - Poland Business Council

17 Sri Lanka - Russia Business Council18 Sri Lanka - Singapore Business Council19 The Council for Business with Britain20 Indo Lanka Chamber of Commerce & Industry21 Sri Lanka Vietnam Business Council

Memoranda of Understanding with Overseas Chambers/ Trade AssociationsThe Board of Trade of Thailand, Thailand 1988The Lahore Chamber of Commerce and Industry, Pakistan

1992

The Indian Merchant’s Chamber 1993The Indonesian Chamber of Commerce and Industry

1993

The Association of British Chamber of Commerce

1993

The Singapore Manufactures’ Association 1994The Confederation of Indian Industry (CII) 1994The Madurai District Tiny & Small Scale Industries Association

1994

The National Chamber of Commerce and Industry of Malaysia

1994

The Metropolitan Chamber of Commerce and Industry, Dhaka, Bangladesh

1994

The Australian Chamber of Commerce & Industry

1995

The Federation of Egyptian Chambers of Commerce

1996

Trade Match International Ltd. – Taiwan 1996The London Chamber of Commerce & Industry

1997

The Iran Chamber of Commerce, Industries & Mines

1997

The Durban Chamber of Commerce & Industry – South Africa

1998

The National Centre for Trade Information – India

1998

The Dorset Chamber of Commerce & Industry – UK

1998

The Polish Chamber of Commerce 1999The Singapore Indian Chamber of Commerce & Industry

1999

The Estonia Chamber of Commerce & Industry

2000

The Philippine Chamber of Commerce and Industry

2000


The National Association of Small and Medium Enterprises – Republic of China – Taiwan

2000

The Confederation of Small and Medium Sized Enterprises of the Rhone-Alpes Region – France

2000

The Croatian Chamber of Economy 2001The Associated Chinese Chamber of Commerce & Industry of Malaysia

2001

The China Council for the Promotion of International Trade – Shanghai Sub-Council Shanghai International Chamber of Commerce

2001

The Dubai Chamber of Commerce & Industry

2002

The Vietnam Chamber of Commerce & Industry

2002

The Slovak Chamber of Commerce & Industry

2002

The Confederation of Nepalese Industries 2003The Federation of Egyptian Chambers of Commerce (Renewal)

2003

The Egyptian Businessmen’s Association 2003The Alexandria Chamber of Commerce – Egypt

2003

The Karnatak Chamber of Commerce & Industry – Hubli

2003

The China Council for the Promotion of International Trade Sichuan Council

2003

The China Chamber of Commerce for Import & Export of Machinery and Electronic Products

2004

The Chamber of Commerce & Industry of the Russian Federation

2004

The Latvian Chamber of Commerce & Industry

2004

The Indo-German Chamber of Commerce – India

2004

The Russian Union of Industrialists and Entrepreneurs

2004

The Cambodia Chamber of Commerce 2004The European Chamber of Commerce – Vietnam

2004

The Vietnam Chamber of Commerce & Industry – Hochi-minh Branch

2004

The Economic Chamber of the Czech Republic

2004

The International Trade Centre UNCTAD/WTO – Switzerland

2004

The CCPIT Wuhan Sub-Council (China Chamber of International Commerce, Wuhan Chamber of Commerce)

2004

The India-ASEAN-Sri Lanka Chamber of Commerce & Industry – Chennai, India 2005The Chamber of Commerce & Industry of Romania & Bucharest

2005

The Chamber of Commerce & Industry of Slovenia

2005

The Austrian Federal Economic Chamber 2005The Union Myanmar Federation of Chamber of Commerce & Industry

2006

The Iran Chamber of Commerce, Industries & Mines

2006

The Thai Chamber of Commerce – Bangkok, Thailand

2006

The Federation of Chamber of Commerce & Industry of Sri Lanka and Jordan Chamber of Commerce and Jordan Chamber of Industry

2007

The Confederation of Indian Industry (CII) – Southern Region

2007

The Riyadh Chamber of Commerce & Industry – Saudi Arabia

2007

The Busan Chamber of Commerce & Industry – Korea

2007

The Confederation of Women Entrepreneurs – Hydrabad

2007

The Federation of Karnataka Chamber of Commerce & Industry and the Indo-Lanka Chamber of Commerce & Industry – Bangalore

2007

The Goa Chamber of Commerce & Industry – Goa

2007

The Association of Women Entrepreneurs of Karnataka – Bangalore

2007

The Bahrain Chamber of Commerce & Industry

2007

The Oman Chamber of Commerce & Industry

2007

The Qatar Chamber of Commerce & Industry

2007

The Istanbul Chamber of Commerce – Turkey

2007

The Andhra Chamber of Commerce – Chennai

2008

Karachi Chamber of Commerce & Industry (KCCI)

2008

The Maldives National Chamber of Commerce & Industry

2008

Stakeholders


The Federation of Egyptian Chamber of Commerce

2008

The General Union of Chambers of Commerce & Industry of the Great Jamahiriya, Libya

2009

China Council for the promotion of International Trade, Shenzhen branch

2009

China Council for the promotion of International Trade, Yunnan Sub-council

2009

The Chamber of Commerce and Industry of the Russian Federation

2009

Taiwan External Trade Development Council

2009

China National Light Industry Council 2009China-South Asia Business Council 2010Qatar Chamber of Commerce and Industry (Renewal)

2010

The Ukrainian Chamber of Commerce and Industry

2010

The Chinese International Economic Cooperation Association

2010

The Israel – Sri Lanka Chamber of Commerce

2010

The Norwegian Agency for Development Cooperation

2010

The British Chamber of Commerce (BCC) & British/ Sri Lanka Chamber of Commerce

2010

Durban Chamber of Commerce & Industry

2010

The Sri Lanka – Bangladesh Chamber of Commerce & Industry

2010

Federation of Iraqi Chambers of Commerce

2010

Chamber of Commerce & Industry of Romania

2011

The Nuremberg Chamber of Commerce and Industry (Germany)

2011

Morang Merchants’ Association (Nepal) 2011Kowloon Chamber of Commerce (Hong Kong)

2011

Germany – Nuremburg Chamber of Commerce

2011

The Chile Chamber of Commerce (National Chamber of Commerce, Service and Tourism F.G.N)

2012

Bulgaria Chamber of Commerce and Industry

2012

Rwanda Private Sector Federation 2012

As at 09th February 2012

Chamber Membership Details for 2011/2012

New MembersAllianz Insurance Lanka Ltd.Celcious Solutions (Pvt) Ltd.Cenmetrix (Pvt) Ltd.Hellmann Worldwide Logistics (Pvt) Ltd.Hemas Pharmaceuticals (Pvt) Ltd.Lanka Special Steels LimitedMalwatte Valley Plantations PLCMediquipment Ltd.Sri Lanka Umbrella IndustriesSwiss Biogenics Ltd.Trade Solutions Lanka (Pvt) Ltd.U K Beverages (Pvt) Ltd.

Change of StyleABC Exim (Pvt) Ltd. to V-Lanka Exim (Pvt) Ltd.Amana Investments Ltd. to Amana Bank Ltd.Bairdwear Interfashion (Pvt) Ltd. to Interfashion (Pvt) Ltd.Blue Diamonds Ltd. to Lanka Diamond Polishing LimitedCeylon Theatres PLC to CT Holdings PLCChemical Industries (Colombo) PLC to CIC Holdings PLCEskimo Fashion Knitwear (Lanka) Ltd. to Eskimo Fashion Knitwear (Private) Ltd.Eurocenter DDC Ltd. to 99X Technology LimitedHidaramani (Private) Ltd. to Hidaramani International Exports (Private) LimitedJames Finlay Ceylon (Pvt) Ltd. to Finlay Tea Solutions Colombo (Pvt) Ltd.Janashakthi Life Insurance Co. Ltd. to Janashakthi Insurance PLCJanatha Finance Investments (Pvt) Ltd. to JF & I Packaging (Pvt) Ltd.Lanka Tiles PLC to Lanka Floortiles PLCNawakrama (Pvt) Ltd. to Ceyoka (Pvt) Ltd.Taj Lanka Hotels PLC to Tal Lanka Hotels PLCTigo (Private) Limited to Etisalat Lanka (Private) LimitedThe Maharaja Organisation Limited to The Capital Maharaja Organisation Limited


ResignationsAffno (Pvt) Ltd.Al – Karrim Lanka Consultants (Pvt) Ltd.Amtrad Ltd. Capitol Overseas Courier Service (Pvt) LtdColonial Motors Ltd.Cosco Lanka (Pvt) LimitedKlevenberg (Pvt) LtdMountain Hawk Express (Private) LimitedN Y K Logistics & Kusuhara Lanka (Private) Ltd.NMK Products & Agenices Lanka (Pvt) LtdReb Mech (Pvt) LtdSifang Lanka (Pvt) LtdSri Lanka – Libya Agricultural & Livestock Development Co. Ltd.

Re-InstatementL H Chandrasekera and Brothers (Pvt) Ltd.The Cargo Boat Despatch Company Limited

CessationsBuilt – Mech Services (Pvt) Ltd.Das Enterprises (Pvt) Ltd.First Capital Ltd.Gestetner of Ceylon Ltd.Jung Yooun Textile (Pvt) Ltd.Kelsey Developments PLCL H Chandrasekera and Brothers (Pvt) Ltd.Lak Jaya Microfinance Ltd.Macky Industries (Exports) Ltd.NDB Aviva Wealth Management Ltd.Sadako Industries International (Pvt) Ltd.Sherman Sons (Pvt) Ltd.Wartsila Lanka (Pvt) Ltd.

Meetings with Sri Lanka representatives overseasAt the request of the Ministry of External Affairs, the Ceylon Chamber of Commerce organized Induction Programmes for the following Heads of Missions appointed to Sri Lanka Embassies/High Commissioners overseas prior to their departure.

Australia, Fiji, New Zealand, Papua New Guinea, VanuatuHis Excellency Admiral T.S.G. Samarasinghe, High Commissioner, High Commission of the D.S.R. of Sri Lanka, Australia.

AustriaAustria, Bosnia, Croatia, Czech Republic, Hungary, Macedonia, Serbia, Slovak Republic and SlovaniaHis Excellency A.L.A. Azeez, Embassy of the D.S.R. of Sri Lanka, Austria

Brazil, Chile, Argentina, Colombia, PeruHis Excellency Dr. Mahinda Balasooriya, Ambassador, Embassy of the D.S.R. of Sri Lanka, Brazil

China, D.P.R. of Korea, MongoliaHis Excellency B.G.R. Uyangoda, Embassy of the D.S.R. of Sri Lanka, China

EgyptHis Excellency S.S. Ganegama Arachchi, Ambassador, Embassy of the D.S.R. of Sri Lanka, Egypt

Germany, Switzerland, Holy SeeHis Excellency Sarath Kongahage, Ambassador, Embassy of the D.S.R. of Sri Lanka. Germany.

Italy, Albania, Cyprus, Greece, Malta, FAO, IFAD, WFPHis Excellency Asitha Perera, Ambassador, Embassy of the D.S.R. of Sri Lanka, Italy

Kenya, Ethiopia, Tanzania, Uganga, UNEP, UN-HABITATHis Excellency T. Raveenthiran, Embassy of the D.S.R. of Sri Lanka, Kenya

Republic of KoreaHis Excellency Tissa Wijeratne, Ambassador, Embassy of the D.S.R. of Sri Lanka, Republic of Korea

Stakeholders


Kuwait, BahrainHis Excellency C.A.H.M. Wijeratne, Embassy of the D.S.R. of Sri Lanka in Kuwait

Lebanon, Syria, IraqHis Excellency M.R. Gunaratne, Embassy of the D.S.R of Sri Lanka, Lebanon

MalaysiaHis Excellency Kalyananda Godage, High Commissioner, High Commission of the D.S.R. of Sri Lanka, Malaysia.

MyanmarHis Excellency H.R. Piyasiri, Embassy of the D.S.R. of Sri Lanka, Myanmar

NetherlandsHis Excellency Buddhi K. Athauda, Ambassador, Embassy of the D.S.R. of Sri Lanka, Netherlands

Oman, Republic of YemenHis Excellency M.A.K. Girihagama, Embassy of the D.S.R. of Sri Lanka, Oman

QatarHis Excellency Jayantha Palipane, Embassy of the D.S.R. of Sri Lanka, Qatar

SingaporeHer Excellency Ferial Ismail Ashroff, High Commissioner, High Commission of the D.S.R. of Sri Lanka

Sweden, Denmark, Estonia, Finland, Iceland, Latvia, LituaniaHis Excellency Oshadhi Alahapperuma, Ambassador, Embassy of the D.S.R. of Sri Lanka, Sweden

ThailandHis Excellency General (Retd.) S.H. Shantha Kottegoda, Embassy of the D.S.R. of Sri Lanka, Thailand


Visitors to ChamberCanadaHis Excellency Bruce Levy, High Commissioner, High Commission of Canada

China Her Excellency Madam Yang Xiubing, Ambassador, Embassy of People’s Republic of China

Egypt His Excellency Fawzi Gohar, Ambassador, Embassy of Egypt

France Her Excellency Christine Robichon, Ambassador, Embassy of France

Germany His Excellency Jens Ploetner, Ambassador, Embassy of Germany

Indonesia His Excellency Djafar Hussain, Ambassador, Embassy of Indonesia

Italy His Excellency Fabrizio Pio Arpea, Ambassador, Embassy of Italy

Japan His Excellency Kunio Takahashi, Ambassador. Embassy of Japan

MexicoHis Excellency Jaime Nualart Sanchez, Ambassador, Embassy of Mexico, New Delhi, India

MaltaHer Excellency Theresa Cutajar, High Commissioner, High Commission of Malta, New Delhi, India.

Norway Her Excellency Hilde Haraldstad, Ambassador, Royal Norwegian Embassy

RomaniaHis Excellency Dr. Victor Chiujdea, Ambassador, Embassy of Romania

South Africa His Excellency Geoffrey Doidge, High Commissioner, High Commission of South Africa

UK His Excellency John Rankin, High Commissioner, British High Commission VietnamHis Excellency Ton Sinh Thanh, Ambassador, Embassy of Vietnam

Asian Development BankMs. Rita O’Sullivan, Country Director, Sri Lanka Resident Mission, Asian Development Bank

Japan His Excellency Nobuhito Hobo, Ambassador, Embassy of Japan

PortugalHis Excellency Jorge Roza de Oliveira, Ambassador, Embassy of Portugal, New Delhi, India.

RwandaHis Excellency Williams Nkurunziza, High Commissioner, High Commission of the Republic of Rwanda, New Delhi, India

SenegalHis Excellency Amadou Moustapha Diouf, Ambassador, Embassy of Senegal, New Delhi, India.

TaiwanMr. George Lin, Director, Taipei World Trade Centre Liaison Office, Chennai, India.

US Agency for International Development (USAID) Mr. James Bednar, Mission Director - Sri Lanka and the Maldives

AustraliaHon. Grant Woodhams, Speaker, Parliament of Western Australia

Mr. Peter Forby, Regional Director, Government

Stakeholders


of Western Australia, Trade and Investment Office, New Delhi, India.

BelgiumHis Excellency Pieree Vaesen, Ambassador, Embassy of Belgium

March 2012Namibia His Excellency Dr. Samuel K. Mbambo, High Commissioner, High Commission of the Republic of Namibia in New Delhi, India.

Thailand His Excellency Poldej Worachat, Ambassador, Royal Thai Embassy

World BankDr. Brian Pinto, Senior Adviser in the Poverty Reduction and Economic Management Network

Asian Development Bank (ADB)Ms. Lakshmi Venkatachalam, Vice-President Private Sector and Co-financing Operations


Chamber TeamOfficersMs. Subashini AbeysingheB. A. (Econ. Hons.), M.A. (Econ), Uni. of ColomboSenior Economist

Ms. Ushendrini AmerasingheCert. in Marketing, CIM (UK)Manager – Associations Division

Ms. Gayathiri ArwindMSc. Management (UK), BBA – Bachelors of Administration (Australia)Manager

Ms. Kamani BartholomeuszFC & Cert. in Human Resource Mgmt. (IPM), Prof. Dip. in Marketing (CIM) UKManager – Business Councils Division

Ms. M. I. BogollagamaManagement Executive (Until 12.08.2011)

Mr. Rohan Casie ChettyDip. in Shipping (UK)Manager

Ms. Darshini CostaSenior Assistant Accountant

Mr. Prema CoorayM.B.A. (PIM), Uni. of Sri Jayawardenapura, CIMA, HCIMAManaging Director/CEO – CCC Solutions (Pvt) Ltd.

Ms. Dimuthi Eranthi AAT, (Intermediate Level – CMA, SL)Accounts Executive (Effective 01.04.2011)

Ms. Madusha DassanayakeBA (Specialized in Economics), Cert. in Bus. Acc. (CIMA, UK, - Found. Level)Research Officer (Until 23.02.2012)

Ms. Andrea DavidABE Dip. Level 1 (Business Management), UKManagement Executive (Until 20.06.2011)

Ms. Lilakshini De MelMIMIS (UK), Ex. Dip. in Business Admin., Uni. of Colombo, Member of the Inst. of Data Processing Mgmt. (UK)Senior Assistant Secretary-General

Ms. Michelle DilrukshiManagement Executive (Effective 20.10.2011)

Ms. Chathurika DissanayakeBSc. (Hons) Business Management (UK)Management Executive

Ms. Manori DissanayakeManager – Associations (Effective 03.10.2011)

Ms. Pasantha DissanayakeB. A., Uni. of Kelaniya, P. G. Dip. in Business Management, Uni. of Colombo, MBA-IIU (Irish International University) – EUManager

Ms. Puvi DomingopillaiB. A., Uni. of Ceylon (Peradeniya) Consultant

Ms. Navoda GimhaniBA (Hons) EconomicsTeam Leader (SAARC Trade Information Project)

Ms. Gayathri GunaruwanMS (Econ.), DESSChief Economist

Ms. Inoka GunawardenaBSc. (Hons) IT (SLIIT), Dip. in Env. Journ. (SLEJF), Dip. in Intrnl. Rel. (BCIS), Pg Dip. in HR Adv. (Uni. of Colombo) Management Executive

Mr. Shehan HettigeDip. in , Computer Studies (IDM), Dip. in Hardware (IDM), Dip. in Web Dev. (IDM)Management Executive

Mr. M. B. M. InshafComp. Hardware (ASC Com.), Com. Science & Eng. Sten. (Kol. Voc. Tr. Centre)Management Executive

Mr. David JanszeConsultant – Commodities Cluster

Mr. Vinesh JayalingamManagement Executive

Mr. Hasitha JayamahaManager – Regional Economic Development Initiatives

Stakeholders


Mr. Prasanna JayasingheDip. in Computer Studies (LBS), Cert. in Accounting (Australia), FC in Marketing (SLIM)Accounts Executive (Until 30.04.2011)

Mr. Rohana JayawardhenaJunior Executive Maintenance

Ms. Thilini KahandawaarachchiB.A., LL.B. (Hons) (NLSIU)Manager Public Relations (Effective 19.09.2011)

Ms. Apsara KapukotuwaB. A., Uni. of Kelaniya, M. A. in Mass Communication, Uni. of KelaniyaManager Public Relations (Until 26.08.2011)

Ms. Indika KariyawasamDip. in Financial ManagementAssistant Accountant

Ms. Satheeka KavisekaraAAT (SL), Associate Mmbr (CIM) UK, Dip. in Comp. Sc. (GK Inst. of IT), National Cert. in Sec. Practices (Dept. of Tech. Edu. & Tr.) Management Executive

Mr. V. KumaraguruBA SociologyNational Program Manager -YBSL

Ms. Manjula MaldeniyaMBA (Australia), BSc. (Hons) Business (UK)Management Executive

Mr. Harin Malwatte(Retd. Lt. Col) U.S.P, RSP, M. Sc. Defense and Strategic Studies, Uni. of Madras (India), FCMISecretary-General/ CEO

Ms. Gillian NugaraDip. Executive Secretary/Administration Asst. (Polytechnic)Manager – Commodities Division

Mr. Suresh PathiranaA. M., Inst. R. (London)Senior Assistant Secretary-General - Operations

Ms. Alikie PereraACMA (UK), MBA (PIM)Deputy Secretary-General/Financial Controller

Mr. Anuradha PereraB. Sc. (Hons.), National Uni. of IrelandProject Manager (Until 29.04.2011)

Ms. Lakshika Perera B. Sc. (Hons.) Bus. IT (UK), Dip. in Computing & IT (APIIT), Dip. in Web Designing (Academy of Digital Arts)Management Executive

Ms. Nayani PereraCIMA FinalistManagement Executive (Until 31.05.2011)

Ms. Nisansala PereraCert. in Desktop Publishing (INGRIN Institute)Management Executive

Ms. Nazreen RamziABE Dip. Level 1 (Business Management), UKManagement Executive (Until 03.09.2011)

Ms. Dulara SamarasingheDip. in Management (ACBT), Dip. in HRM (IPM)Management Executive

Mr. Anojan SelvanathanManager (Effective 01.07.2011)MBA (SMU), BBA (Uni. of Madras), Dip-in-Strategic Business IT (Metropolitan Uni.), Dip-in-MKT (UK), CPM, MCS, MIM-SLCountry Manager – IBDO

Ms. Shazna SilmyProf. Cert. in Marketing, CIM (UK), Cert. Level in HRM (IPM) Manager

Ms. Varuni SilvaAttorney-at-Law , MBA (OUSL),Pg.Dip. in International Trade (SLLC)Notary Public, Reg.Company SecretaryIntellectual Property AgentManager-Legal

Ms. Irangika SiriwardenaDip. in Business Mgmt. (UK), PC in Marketing (SLIM), FC Human Resource Mgmt. (IPM), M.B.S. (Uni. of Colombo)Manager – Associations (Until 27.10.2011)


Mr. Gerry SuraweeraM.B.A. (PIM), PGD in Marketing Mnmgt.(PIM), Member of the Management Services (U. K), Fellow of the Plastic & Rubber Institute of Sri Lanka, Licentiate of the Rubber Industry U.KConsultant - Projects

Mr. Nilan ThimbiripolaProject Officer (Effective 15/08/2011)

Ms. Sanuththara UpulanandaManagement Executive (Until 30.12.2011)

Mr. Chandrarathna VithanageB. Sc. (Hons.) (Uni. of Peradeniya), MSc. (Uni. of Peradeniya), MBA (Uni. Sri J’pura)Senior Assistant Secretary-General

Ms. Ayoni WaniganayakeDip. in Management (ASIED)Senior Assistant Secretary-General

Mr. Manoj WickremarachchiPassed Finalist ICMA, Dip. in Mgmt St. (OUSL), CA & IT (ICMA) Assistant Accountant – Projects

Ms. Khema WijegunawardenaB. B. A. (Int. Business Management), Assumption University (Thailand) Manager – Projects & Services

Ms. Thilini WijesingheBBA (Hons) Business ManagementManagement Executive

Mr. Sarath WimalaweeraJunior Executive

Personal AssistantsMs. Yasmin GomeszMs. Cherryl Rodrigo

Confidential SecretariesMs. Sriyani ChandrasekeraMs. Kumudini Udawatte

Clerical Staff & General AssistantsMr. S. ArumugamMr. K. B. BandularatneMs. Rachel ClementsMr. Sumith ChandraweeraMr. Surath DeraniyagalaMr. Sarath EdirisingheMr. Wesley HaththotuwaMr. Sandun Gomes Mr. W. M. N. JayanthaMs. Sonali Kappagoda (Effective 12.09.2011)Ms. Shammi Maduka (Until 31.12.2011)Mr. C. L. MapatunaMr. A. MichaelMr. L. PadmasiriMr. Norman PereraMr. Bernard PereraMs. Shashini Perera (Foundation Level – CIMA, UK) (Until 23.09.2011)Mr. Sunil Perera Mr. Jagath RohanaMr. Chathuranga Samarasekara Ms. Champika Samarasinghe (Effective 09/01/2012)Mr. K. SelvarajMr. P. G. SirisenaMr. Anura UduwellawatteMs. Chamini Wijerathna Mr. Sampath Wijessoriya

Stakeholders

Corporate Information

Name of the organizationThe Ceylon Chamber of Commerce

Legal FormThe Ceylon Chamber of Commerce, a Non Profit Organization, is incorporated under Ordinance No. 10 of 1895.

Standing Committee ‘A’Mr. Susantha Ratnayake - ChairmanMr. Suresh Shah - Vice ChairmanMr. Samantha Ranatunga - Deputy Vice ChairmanDr. Anura Ekanayake - Immediate Past ChairmanMr. Harin Malwatte - Secretary General/CEO (by Invitation)Ms. Alikie Perera - Deputy Secretary General/Financial Controller (by Invitation)

Registered Office50, Nawam Mawatha,Colombo 2.

AuditorsKPMG Ford Rhodes and Thornton

BankersHatton National Bank PLCSampath Bank PLCStandard Chartered BankThe Hongkong & Shanghai Banking Corporation Limited

makingourmark

ANNUAL REPORT 2011/2012

The Ceylon C

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The Ceylon Chamber of Commerce50, Nawam Mawatha, Colombo 2www.chamber.lk