INTERIM FINANCIAL STATEMENTSFOR THE QUARTER ENDED
31st March 2021
Contents
(1 ) Income Statement
(2 ) Statement of Comprehensive Income
(3) Statement of Financial Position
(4) Statement of Changes in Equity
(5) Statement of Cash Flows
(6) Analysis of Financial Instruments by Measurment Basis
(8) Analysis of Loans and Advance and Deposits,Interest Comparision
(10) Selected Performance Indicators
ok
Quarter ended 31st March 2021
Quarter ended 31st March 2020
Period ended 31st March 2021
Period ended 31st March 2020
Rs "000" Rs "000" Rs "000" Rs "000"
Unaudited Unaudited Unaudited Unaudited
Interest Income 1,724,740 1,951,141 1,724,740 1,951,141
Interest Expenses 929,387 1,209,414 929,387 1,209,414
Net Interest Income 795,352 741,727 795,352 741,727
Fee and Commission Income 115,208 77,764 115,208 77,764
Less : Fee and Commission Expenses - - - -
Net fee and Commission Income 115,208 77,764 115,208 77,764
Net gains/(losses) from trading - - - -
Net fair value gains/(losses) on: - - - -
financial assets at fair value through profit or loss - - -
financial liabilities at fair value through profit or loss - - - -
Net gains/(losses) on derecognition of financial assets: - - - -
at fair value through profit or loss (1,750) (1,750)
at amortised cost - - - -
at fair value through other comprehensive income - - - -
Other Operating Income (net)
Total Operating Income 910,560 817,740 910,560 817,740
Impairement Charges 124,340 91,446 124,340 91,446
Net Operating Income 786,220 726,294 786,220 726,294
Personnel Expenses 347,979 299,095 347,979 299,095
Depreciation and Amortisation 35,144 38,756 35,144 38,756
Other expenses 97,398 81,175 97,398 81,175
Operating Profit/(Loss) before VAT on financial services 305,698 307,268 305,698 307,268
Value Added Tax (VAT) on financial services 80,343 76,489 80,343 76,489
Operating Profit/(Loss) after VAT on financial services 225,355 230,780 225,355 230,780
Shares of Profit of associates and join ventures - - - -
Profit/(Loss) before Tax 225,355 230,780 225,355 230,780
Income tax expenses 81,657 41,786 81,657 41,786Profit/(Loss) for the period 143,698 188,994 143,698 188,994
Profit attriibutable to: - - - -
Equity holders of the parent 143,698 188,994 143,698 188,994
Non- controlling interests - - -
Earning per share on profit
Basic Earnings per Ordinary Share (Rs) 2.22 2.92 2.22 2.92
HDFC Bank of Sri Lanka Income Statement
For the Period ended 31-03-2021
Item
##
Quarter ended 31st March 2021
Quarter ended 31st March 2020
Period ended 31st March 2021
Period ended 31st March 2020
Rs "000" Rs "000" Rs "000" Rs "000"
Unaudited Unaudited Unaudited Unaudited
Profit/(Loss) for the period 143,698 188,994 143,698 188,994
-
Items that will be reclassified to income statement -
Exchange differences on translation of foreign operations - - - -
Net gains/(losses) on cash flow hedges - - - -
Net gains/(losses) on investments in debt instruments - - - -
measured at fair value through other comprehensive - - - -
income - - - -
Share of profits of associates and joint ventures - - - -
Debt instruments at fair value through other - - - -
comprehensive income - - - -
Others (specify) - - - -
Less: Tax expense relating to items that will be reclassified - - - -
to income statement - - - -
-
- - - -
Items that will not be reclassfied to income statement
Change in fair value on investments in equity instruments - - - -
designated at fair value through other comprehensive - - - -
income - - - -
Change in fair value attributable to change in the Bank’s - - - -
own credit risk on financial liabilities designated at fair - - - -
value through profit or loss - - - -
Re-measurement of post-employment benefit obligations -
Changes in revaluation surplus - - - -
Share of profits of associates and joint ventures - - - -
Others (specify) - - - -
Less: Tax expense relating to items that will not be - - - -
reclassified to income statement -
- - - -
Other comprehensive income (OCI) for the period net of taxTotal comprehensive income for the period net of tax 143,698 188,994 143,698 188,994
Attributable to
Equity Holders of the Parent 143,698 188,994 143,698 188,994
Non - Controlling Interest - - - - 143,698 188,994 143,698 188,994
For the Period ended 31-03-2021
Item
HDFC Bank of Sri Lanka Statement of Comprehensive Income
ok
31.03.2021 31.12.2020
Rs "000" Rs "000"
Unaudited Unaudited
Assets
Cash and Cash Equivalants 231,394 305,889
Balance with Central Bank -
Placements with banks 6,148,176 9,859,828
Financial assests recognized through Profit or Loss
measured at fair value
designated at fair value -
Financial assets at amortised cost
loans and advances 41,886,513 41,091,504
debt and other instruments 11,939,824 7,546,039
Property, plant and equipment 239,561 223,262
Lease ROUA 368,251 378,257
Investment properties 1,016,500 1,017,000
Goodwill and intangible assets 122,105 127,570
Deferred tax assets 134,763 108,826
Other assets 229,942 177,074
Total Assets 62,317,030 60,835,249
Liabilities
Due to banks 1,515,626 1,914,153
Derivative financial instruments
Financial liabilities at amortised cost
due to depositors 49,473,829 47,947,005
due to other borrowers 1,874,381 1,923,783
Debt securities issued 1,464,977 1,422,976
Lease Liability 342,796 354,833
Retirement benefit obligations 788,751 777,800
Current tax liabilities 483,292 377,859
Deferred tax liabilities 0
Other liabilities 268,249 189,544
Total Liabilities 56,211,901 54,907,954
Capital
AT - 1 Capital
Perpetual Bond 288,618 281,250
Total AT - 1 Capital 288,618 281,250
Equity Capital
Stated capital/Assigned capital 962,093 962,093
Statutory reserve fund 240,110 209,530
OCI reserve (122,976) (125,488)
Retain Earnings 4,330,662 4,254,448
Other Reserves 406,622 345,461
Non-controlling Interest - -
Total Equity Capital 5,816,511 5,646,044
Total shareholders’ equity and AT-1 Capital 6,105,129 5,927,294
Non-controlling interests
Total Liabilities and Equity 62,317,030 60,835,249
0.65 (0.67)
Contingent liabilities and commitments 523,852 380,011
Net Assets value per Ordinary Share (Rs) 89.89 87.25
Memorandum information
Number of employees 630 633
Number of Branches 39 39
Note: Amounts stated are net of impairment and depreciation.
HDFC Bank of Sri Lanka
Statement of Financial Position
As at 31st March 2021
Item
64
Rs (000)
Ordinary Ordinary Assigned OCI
Voting Shares Non Voting Shares Capital Reserve
Balance as at 01/01/2020 962,093 - - 209,602 (77,750) 3,679,558 345,605 5,119,108 5,119,108
Profit/(Loss) for the Period - - - - - 188,994 - 188,994 - 188,994
Other Comprehensive income (net of tax) - - - - - - -
Share issue/increase of Assigned Capital - - - - - - - - -
Bonus issue - - - - - - - - -
Right issue - - - - - - - - -
Transfer to Reserves during the period - - - - -
Dividend paid - - - - - - - - -
Profit transferred to head office - - - - - - - - -
Gain/(loss) on revaluation of Property Plant and Equipment - - - - - - - -
Others - - - - - -
Balance as at 31/03/2020 962,093 - - 209,602 (77,750) 3,868,552 345,605 5,308,102 - 5,308,102
Rs (000)
Ordinary Assigned OCI
Non Voting Shares CapitalReserve
Balance as at 01/01/2021 962,093 240,110 (122,976) 4,186,964 406,622 5,672,813 5,672,813
IFRS 9 Restatements(AFS Debenture Impairment)
Adjustments(Leasing Insurance Receivable)
Prior YearAdjustments(SLFRS 16)
Prior Year Adjustments
Adjusted Balance as at 01/01/2021 962,093 240,110 (122,976) 4,186,964 406,622 5,672,813 5,672,813
Profit/(Loss) for the Period - - - - 143,698 143,698 143,698
Other Comprehensive income (net of tax) - - - - - - -
Share issue/increase of Assigned Capital - - - - - - - - - -
Bonus issue - - - - - - - - -
Right issue - - - - - - - - - -
Transfer to Reserves during the period - - - - - - - - - -
Dividend paid - - - - - - - - -
Profit transferred to head office - - - - - - - - - -
Others - - - - - - - -
Balance as at 31/03/2021 962,093 - - 240,110 (122,976) 4,330,662 406,622 5,816,511 5,816,511.
Total Equity
Total Non-
Controlling
Interest
Total Equity
Other Reserves
Attributable to equity holders of the bank (unaudited)
Total Non-
Controlling
Interest
ItemStated Capital Statutory
Reserve Fund
Retained
Earnings
HDFC Bank of Sri Lanka
Statement of Changes in Equity
for the Period ended 31st
March 2021
Attributable to equity holders of the bank (unaudited )
Stated Capital/Assigned capital
Item Statutory
Reserve Fund
Retained
Earnings
Other Reserves
HDFC BANK OF SRI LANKAStatement Of Cash Flows
Rs 000For the Period Ended 31st March 2021
2021 2020
Unaudited Unaudited
Cash Flows From Operating Activities
Interest Receipts 1,527,282 1,476,996
Interest payments (714,553) (672,575)
Net commision Receipts 90,863 53,619
Trading Income - -
Payments to Employee (274,083) (233,216)
VAT,DRL & NBT on Financial Services (* NBT & DRL Last Year Only) (83,847) (90,490)
Receipt from other operating activities 22,961 22,509
Payments on other operating activities (107,754) (93,610)
Operating profit before changes in operating assets 460,869 463,233
(Increase)/Decrease In Operating Assets :
Balances with Central Bank of Sri Lanka
Financial Assets at amotised cost - Loans and Advances (672,992) (561,047)
Other Assets (52,808) (106,642)
(725,800) (667,689)
Increase / ( Decrease ) In Operating Liabilities
Financial Liabilities at amotised cost - due to Depositors 1,371,401 3,214,441
Negotiable certificates of deposits - -
Financial Liabilities at amotised cost - due to Debt Security Holders - -
Financial Liabilities at amotised cost - due to Other Borrowers (470,009) 87,734
Other Liabilities 37,795 1,498
939,186 3,303,673
Net cash from operating activities before income tax 674,255 3,099,217
Income Tax Paid (38,462) (10,067)
Net cash from operating activities 635,793 3,089,149
Cash Flows From Investing Activities
Purchase of property, plant and equipment (29,319) (10,567)
Proceeds from Sale property, Plant and equipment -
Net Cashflows from Investments (680,968) (2,427,074)
Net purchase of intangible assets - -
Net cashflow from acquisition of investments in subsidiaries,associate & joint ventures - -
Dividends received from investments -
Others - -
Net cash from Investing activities (710,288) (2,437,641)
Cash Flows From Financing Activities
Net proceeds from the issue of Ordinary share capital - -
Net proceeds from the issue of Other equity instruments - -
Net proceeds from the issue of Subordinated debt -
Repayment of Subordinated debt - -
Interest paid on subordinated debts - -
Dividends paid to non - controling Interest - -
Dividends paid to shareholders of the parent company - -
Dividends paid to holders of other equity instruments - -
Others - -
Net cash from financing activities
Net increase/(decrease) in cash & cash Equivalents (74,495) 651,508
Cash & cash equivalents at beginning of the period 305,889 421,218
Cash & cash equivalents at the end of the period 231,394 1,072,727
Reconciliation Of Cash and Cash Equivalents
Cash In Hand 151,856 123,597
Cash at Bank 79,539 949,130
231,394 1,072,727
Bank
HDFC Bank of Sri Lanka
Analysis of Financial Instruments by Measurment Basis
As at 31st March 2021
In Rs."000" AC FVPL FVOCI OTHER Total
ASSETS
Cash and cash equivalents 231,394 - - - 231,394
Balances with central banks - - - - -
Placements with banks 6,148,176 - - - 6,148,176
Derivative financial instruments - - - -
Loans and advances 41,886,513 - - - 41,886,513
Debt instruments 11,939,824 - - - 11,939,824
Equity instruments - - -
Total financial assets 60,205,908 - - 60,205,908
Other Assets - - - 2,111,122 2,111,122
Total assets 60,205,908 - 2,111,122 62,317,030
In Rupees AC FVPL OTHER Total
LIABILITIES
Due to banks 1,515,626 - - 1,515,626
Derivative financial instruments - - - -
Financial liabilities to Amortise cost
- due to depositors 49,473,829 - - 49,473,829
- due to debt security holders 1,464,977 - - 1,464,977
- due to other borrowers 2,162,999 - - 2,162,999
Total financial liabilities 54,617,431 - - 54,617,431
Other Liabilities - - 1,883,088 1,883,088
Equity - - 5,816,511 5,816,511
Total liabilities & Equities 54,617,431 - 7,699,599 62,317,030 0
AC – Financial assets/liabilities measured at amortised cost
FVPL – Financial assets/liabilities measured at fair value through profit or loss
FVOCI – Financial assets measured at fair value through other comprehensive income
HDFC Bank of Sri Lanka Analysis of Financial Instruments by Measurment BasisAs at 31st December 2020In Rs."000" AC FVPL FVOCI OTHER TotalASSETSCash and cash equivalents 305,889 - - - 305,889Balances with central banks - - - - - Placements with banks 9,859,828 - - - 9,859,828
Derivative financial instruments - - - - - Loans and advances 41,091,504 - - - 41,091,504Debt instruments 7,546,039 - - - 7,546,039Equity instruments - - - Total financial assets 58,803,260 - - 58,803,260Other Assets 2,031,988 2,031,988Total assets 58,803,260 - 2,031,988 60,835,249
In Rupees AC FVPL OTHER Total
LIABILITIESDue to banks 1,914,153 - - 1,914,153Derivative financial instruments - - - - Financial liabilities to Amortise cost - - - - - due to depositors 47,947,005 - - 47,947,005 - due to debt security holders 1,422,976 - - 1,422,976 - due to other borrowers 2,205,033 - - 2,205,033Total financial liabilities 53,489,168 - - 53,489,168Other Liabilities - - 1,700,036 1,700,036
Equity - - 5,646,044 5,646,044Total liabilities & Equities 53,489,168 - 7,346,081 60,835,249 -
HDFC Bank of Sri Lanka Analysis of Loan and Receivables
As at 31st March 2021#REF! #REF!
Product - Wise Gross Loans & Advances
As at As at
In Rs."000" 31.03.2021 31.12.2020
By Products - Domestic Currency
Housing Loans Secured by Primary Mortgage Over Residential Properties 12,449,891 12,504,797
Housing Loans Against EPF. 11,813,429 10,992,439
Housing Loans on Guarantors & Others 7,220,555 7,148,330
Gold Loans 428,705 407,223
Business Loans 3,973,271 4,167,423
Lease Rentals receivables 1,143,495 1,238,067
Hire Purchase 2,715 2,937
Staff Loans 1,665,031 1,613,297
Cash Margin Loans 1,740,013 1,689,399
Interest & Other Receivables 3,050,502 2,900,285
Sub Total 43,487,607 42,664,196 ####### #######
By Products - Foreign Currency
Overdrafts - -
Term Loans - -
Other Loans - -
Sub Total - -
Total 43,487,607 42,664,196
Product -Wise Commitments and Contingencies
By Product-Domestic Currency
Guarantees 6,880 7,623
Bonds
Undrawn credit lines 516,972 372,388
Sub Total 523,852 380,011
By product – Foreign currency
Guarantees - -
Bonds - -
Undrawn credit lines - -
Sub Total - -
Total 523,852 380,011
Stage-wise impairment on loans & advances,commitments and
contingencies As at As at
31.03.2021 31.12.2020
Gross loans and advances, commitments and
contingencies 44,011,459 43,044,207
Less: Accumulated impairment under stage 1 115,405 203,888
Accumulated impairment under stage 2 82,431 114,107
Accumulated impairment under stage 3 1,403,258 1,254,696
Total Impairment 1,601,094 1,572,691
Net value of loans and advances, commitments and
contingencies
(0.01) (0.06)
42,410,365 41,471,515
Movement of impairment during the period 2021 2020
Under Stage 1
Opening balance 01-01 203,888 173,377
Charge/(Write back) to income statement (88,484) 30,512
Write-off during the year - -
Other movements - -
Closing balance 115,405 203,888 -
Under Stage 2
Opening balance 01-01 114,107 136,464
Charge/(Write back) to income statement (31,676) (22,357)
Write-off during the year - -
Other movements - -
Closing balance 82,431 114,107
Under Stage 3
Opening balance 01-01 1,254,696 834,412
Charge/(Write back) to income statement 148,562 440,092
Write-off during the year (19,808)
Other movements - -
Closing balance 1,403,258 1,254,696
Total impairment 1,601,094 1,572,691 28,402 #######
Due to Other Customers - By ProductAs at As at
In Rs."000" 31.03.2021 31.12.2020
By Product - Domestic CurrencyDemand deposit(Current Accounts) - -
Savings deposits 7,793,061 7,445,108
Fixed deposits 41,680,769 40,501,898
Other deposits - -
Sub Total 49,473,829 47,947,005 - #REF!
By Product - Foreign Currency - -
Demand deposits - -
Savings deposits - -
Fixed deposits - -
Other deposits - -
Sub Total - -
Total 49,473,829 47,947,005 #REF!
Debt security interest rate vs Government Security Interest rates
Debenture Type31.03.2021 31.12.2020 31.03.202 31.12.202
Debenture - 10Years- 2015(Fixed Annu. 2025) 12.00 12.00 6.80 6.52
Interest rate %
Gov. security Interest
rate %
HDFC Bank of Sri Lanka
Selected Performance Indicators
Item As at 31.03.2021 As at 31.12.2020
Regulatory Capital Adequacy
Common Equity Tire 1 Capital Rs. Mn 4,940 4,974
Tier 1 Capital (CET1+AT1) Rs . Mn 5,190 5,224
Total Capital Base (Tier 1 Capital+Tire 2) , Rs Mn 5,347 5,453
Regulatory Capital Ratios (%)
Common Equity Tire 1 Capital Adequacy Ratio ,as a % of-
(Risk Weighted Assets( Minimum Requirement , 7.0%) 17.83% 17.00%
Tier 1 Capital Adequacy Ratio , as % of Risk Weighted-
Assets ( Minimum Requirement, 8.5%) 18.73% 17.86%
Total Capital Adequacy Ratio , as % of Risk Weighted
Assets ( Minimum Requirement, 12.5%) 19.29% 18.64%Leverage Ratio (Minimum Requirment 3%) 8.87 9.09
Regulatory Liquidity
Statutory Liquid Assets (LKR in Millions) 20,155 17,687
Statutory Liquid Assets Ratio (%) (Minimum Requirement - 20%)
Domestic Banking Unit (%) 41.53 37.20
Off-Shore Banking Unit (%)
Total Stock of High-Quality Liquid Assets (LKR in Millions) 9,006 5,075
Liquidity Coverage Ratio (%) (Minimum Requirement -90% )
Rupee (%) 157.00 138.00
All Currency (%)
Net Stable Funding Ratio (%) - (Minimum Requirement - 90% ) 133.82 151.04
Assets Quality (Quality of Loan Portfolio)
Gross Non-Performing Advances Ratio 31.29% 33.03%
Net-Non performing Advances 27.33% 29.08%
Gross Non -Performing Advance Ratio,Excluding EPF 17.97% 20.22%
Net Non -Performing Advance Ratio Excluding EPF 13.07% 15.02%
Profitability
Interest Margin 5.17% 5.15%
Return on Assets (before Tax) 1.99% 2.19%
Return on Equity 10.03% 10.70%
Debt/Equity 0.88 0.98
Interest Cover 5.61 3.94
Interest Yeild 11.65% 13.35%
Financial Indicators
1st Quarter 31.03.2021
As at 31.12.2020
1 st quarter
31.03.2021
(5 Year
Floating Qtr
debentures)
1 st
quarter
31.03.2021
(5 Year
Fixed Semi
debentures)
1 st quarter
31.03.2021
(10 Year
Fixed Annual
debentures)
Market Price of shares/Debentures during the Quarter
Highest Price Per Share/Debenture 49.80 41.50 - - -
Lowest Price Per Share/Debentures 30.70 32.00 - - -
Last Trading Price Per Share/Debentures 33.40 36.20 - - -
Listed Debenture Information
Quarter ended 31st march 2021 2021 2020
10 Years fixed Annual (12.00 p.a) - -
Notes to the Financial Statement
2. These Financial statements have been prepared in accordance with the Sri Lanka Accounting Standard No 34, 'Interim Financial Reporting' and
other applicable Sri Lanka Accounting Standards
financial statements other than Covid 19 pandemic
Share Price(Rs)
Yeild to Maturity of Last Trade Done(% p. a)
3. No circumstances have arisen since the Statement of Financial Position date which would require adjustment to or disclosure in the interim
1.The Statement of Financial Position as at 31.03.2021, the Income Statement, Statement of Comprehensive Income, the Statement of Cash Flow and the
Statement of Changes in equity for the quarter ended , are drawn up from the unaudited accounts of the bank and provided the information required by the CSE
and the CBSL and where required, provides additional disclosures to comply with LKAS 34, Interim Financial Reporting.
Debenture
Issued 2015
5.There have not been significant changes in the nature of the contingent liabilities that required disclosure
in the interim financial statements for the quarter ended 31st march 2021
6.Shares held by the twenty largest share holders of voting shares as at 31.03.2021
Share Holder Name No of Share %
1. National Housing Development Authority 32,180,000 49.73
2. L O L C Holdings Plc 9,707,740 15.00
3. Thurston Investments Limited 9,155,000 14.15
4. Sampath Bank PLC / Dr.T.Senthilverl 4,893,378 7.56
5. Condominium Management Authority 300,000 0.46
5.Urban Development Authority 300,000 0.46
7. Dr Ruwanpura Rohitha De Silva 295,126 0.46
8.Sampath Bank PLC/MR.Arunasalam Sithampalam 258,054 0.40
9. Finco Holdings (Private) Limited 185,000 0.29
10.The Associated Newspapers of Ceylon Limited 180,000 0.28
11. Mr Dinesh Ajit De Zoysa 170,000 0.26
12.Miss Sudisna Chandani Perera 164,030 0.25
13.Richard Peris Financial Services(PVT) Ltd/M.A.A.Karim 148,074 0.23
14. Mr. Sekasinghe Nawarathna Chandrasekara Wanninayaka
Mudiyanselage Bandara Chandrasekara Kandegedara139,568 0.22
15.Dr.Sena Yaddehige 133,180 0.21
16. Mr. Sithampalam Abishek 128,709 0.20
17. State Engineering Corporation 120,000 0.19
17.Road Development Authority 120,000 0.19
17.National Water supply & Drainage Board 120,000 0.19
20.Ganepola Arachchige Manjula Priya Chandana 110,490 0.17
Total 58,808,349 90.88
* The Public Holding percentage is 35.80% , No of Shares 23,168,429 and No of Shareholders 2,338
7. Minimum Share Holders for compliance
Float-adjusted
Market
Capitalization
Public Holding
Percentage
Number of
public
Shareholder
s Minimum Less Than 2.5 Bn 20% 500
Avalable 0.77 35.80% 2,338
8. Directors' & Chief Executive Officer's holding in shares and Debentures of the Bank at the end of 31.03.2021 are as follows.
Directors' & Chief Executive Officer's Name No of Shares No of Debentures
1.Mrs R.M.R.W. Manchanayake - -
2.Dr. K. D. Gunawardana 1,000 -
3. Dr S N Morais 1,000 -
4. Mr P.A.S, Athula Kumara - -
5. Mr L.E.S. Silva 1,000 -
5. Mr . J.M.D. Ariyarathne 1,000 -
6. Mr. D.M.A.K. Dasanayake - -
7. Mr . M.P.D.U.K.M. Pathirana
8.Mr I.G. J.Palitha (GM/CEO) - -
- -
Total 4,000 -
9. Number of shares representing the entity's stated capital - 64,710,520
CERTIFICATION:
We , the undersigned, being the Chief Executive Officer and Chief financial officer of HDFC Bank of Sri Lanka certify that :-
(1) The above statements have been prepared in compliance with the format and definitions prescribed by the Central Bank of Sri Lanka & Colombo Stock Exchange.
(2) The information contained in these statements have been extracted from the unaudited financial statements of the bank unless indicated as audited.
………………………… ……………………………….
Anura Hettiarachchi I.G. Janaka Palitha
Chief Financial Officer General Manager / CEO
Signed for and on behalf of the Board of Directors, HDFC Bank of Sri Lanka
…………………………………………… …………………………………….
Mrs. R. M. R. W. Manchanayake P.A.S, Athula Kumara
Chairman DirectorDated: 12 /05 / 2021
4. The Financial statements have been prepared in accordance with the accounting policies set out in the Annual Reports for the Year ended 31st Dec 2019.
MINIMUM SHARE HOLDERS FOR COMPLIANCE
OPTION - 5