Draft Chairman's Report

18^th AGM-2011

 Chairman’s Report

XXXXXXXXXXX (Company Name)

It is with great pleasure that I welcome you, on behalf of the Council, to the 18^th Annual general Meeting of  XXXXXXXXXXX (Company Name) and present the annual accounts for the year ended 31^st March 2011. The last twelve months have been noteworthy in numerous respects with regards to performance.

We are still recovering recovering from the imopacet left behind by the thirty year long internal conflict and with the mind cessation of some in may 2009, will hopefully have a positive impact on the mind set of the peoples and investors, local and foreign. If the Aid for development of the North and East keepd flowing in srilanka may possibly move towards becoming the intended miracle of Asia…

I would like to report on the performance and what is lined up for the coming year. This year’s results of the Corporation indicate an improvement in provision of facilities inspite of our limited resources. With Srilanka today confronted several challenges – economic and social. Even though we have seen an end to the war, security danger still lurks in the minds of some, and hence tend to prioritizing other areas rather than  economic well-being. Funds made available by international monetary organizations, once property utilized, might help to revive the economy.

XXXXXXXX (Company Name), being the majority unit holder at the XXXXXXXX ( Name of the Company), are doing their utmost, with the able support of not merely the members , but also all stake holders, to maintain standards necessary to compete with other residence cum shopping malls in Colombo. Despite the fact that cost incurred by  XXXXXXXX (Company Name)  has skyrocketed, they have managed to reduce the impact on the oweners and the occupants, vis a vis, nopt increasing the service changes since 2008. in addition, as the shops who add glamour to the complex and are a major contributor in terms of members Contribution, underwent a period of dwindling sales, the December Seasonal promotion was conducted on a grand scale with a musical extravaganza and kiddies carnival to boost our image and consequent sales in the shops. Admittedly, woefully lacking, has been a Food Court, prevalent in all shopping malls in srilanka. With all stakeholders likely to be beneficiaries of a food Court,  XXXXXXXX (Company Name)  is on verge of finalizing same, and probably be in operation by early 2011.  XXXXXXXX (Company Name)   has aggressively explored new avenues of revenue generation with the recent infusion of Rs ..... m inflow for a six months perioud, for an advertising hoarding. This inflow could possibly continue. In addition to the substantial hoarding. This inflow could possibly continue. We have also implemented various energy conservation measures. The above was made possible, thanks to the Finance and Maintenance managers, ably supported by the council

It is satisfying to note that the Corporation itself has shown continued Progress, even exceeding our expectations. In addition to refurbishment of lift lobbies and updating the Central A/A supply network, we are planning to paint the interior and tilling the ground and first floors, and yet we were able to achieve a profit after Tax of Rs……..M. in the midst of high inflation and consequent increase in cost of essentials and Nations Building Tax of  Rs……M

In striving to enhance the service levels, preventive maintenance and improvements are carried out by the maintenance management and staff, through the year, on a twenty-four hour basis, with the able support of the finance department