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About this Report
Report Rationale
This Annual Report provides our stakeholders a holistic view of our strategy and performance during the financial year 2018/2019. Through this report, we aim to provide our stakeholders information that we believe is of material interest in making an informed assessment of our ability to create value over the short, medium and long-term. The report includes information relating to strategy, governance, performance, market risks and opportunities.
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Scope and Boundary
This report covers the operations of Raigam Wayamba Salterns PLC (RWS) and its operating subsidiary Southern Salt Company (Pvt) Limited (SS) from April 1, 2018 to March 31, 2019.
Standards and Principles
The annual financial statements have been prepared based on the principles and/or requirements of the Sri Lanka Accounting Standards (SLFRS/LKAS). The report also complies with the requirements of the Companies Act No. 7 of 2007, the listing requirements of the Colombo Stock Exchange (CSE) and the Code of Best Practice on Corporate Governance issued by the Institute of Chartered Accountants of Sri Lanka and the Securities and Exchange Commission. The sustainability reporting also complies with the Environmental, Social and Governance (ESG) reporting guidelines published by the CSE.
Materiality
In determining content to be included in this report, we have considered matters that are of interest to current and prospective investors as well as other stakeholders who wish to assess our ability to deliver value. These material topics form the basis of this report and have been identified through numerous stakeholder engagement platforms, as disscussed in this report.
External Assurance
A combined assurance model is used to ensure the credibility and integrity of our reporting. External assurance on the financial statements has been provided by Messrs. Ernst and Young. The Company’s Audit Committee also monitors adequacy and effectiveness of the financial reporting and internal control systems.
Feedback
We welcome your feedback on our Annual Report and encourage you to put forward any suggestions you may have in terms of what you would like to see in our next report.
Janaka Mayadunna
Deputy General Manager - Finance (Group) Raigam Wayamba Salterns PLC No: 23, Walukarama Road, Colombo 03. Email: janaka@raigam.lk
