ACCESS ENGINEERING PLC | ANNUAL REPORT 2021/22
As one of Sri Lanka's premier engineering entities, our ability to sustain our value offering throughout challenging times has given us an innovative mindset, resilience to cope with change, and made us an epitome of world-class engineering. Today, we offer that same style of enduring
value that's guaranteed to last through generations.
CONTENTS
THIS IS ACCESS ENGINEERING
About Access Engineering | 3 |
About this Report | 4 |
Milestones | 6 |
Group Structure | 8 |
Financial highlights | 10 |
Non-Financial highlights | 11 |
Chairman's Message | 12 |
Joint Statement from the Executive | |
Vice Chairman and the Managing Director | 15 |
STRATEGY
Operating Environment | 22 |
Stakeholder Engagement | 28 |
Materiality | 35 |
Strategic Direction | 39 |
Our Value Creation Model | 42 |
Our Business Portfolio | 44 |
Key Projects | 48 |
Construction | |
Water and Wastewater | 48 |
Power Infrastructure | 50 |
Roads and Highways | 52 |
Bridges and Flyovers | 56 |
Buildings and Piling | 64 |
Telecommunications | 76 |
Group Performance Review | 80 |
Construction | 80 |
Construction related Material | 83 |
Property | 84 |
Automobile | 88 |
MANAGEMENT DISCUSSION AND ANALYSIS
Capital Management Review | 92 |
Financial Capital | 92 |
Manufactured Capital | 97 |
Intellectual Capital | 102 |
Human Capital | 109 |
Social and Relationship Capital | 125 |
Natural capital | 143 |
GRI Content Index | 152 |
Independent Assurance Report to Access Engineering PLC 155 | |
STEWARDSHIP
Board of Directors | 158 |
Corporate Management Team | 162 |
Corporate Governance | 166 |
Managing Key Risks | 198 |
FINANCIAL REPORTS
Annual Report of the Board of Directors | |
on the Affairs of the Company | 216 |
Statement of Directors' Responsibility | 222 |
Directors' Statement on Internal Control | 223 |
Independent Auditors' Report | 224 |
Statement of Profit or Loss and | |
Other Comprehensive Income | 230 |
Statement of Financial Position | 231 |
Statement of Changes in Equity | 232 |
Statement of Cash Flows | 233 |
Index to the Financial Statements | 234 |
Notes to the Financial Statements | 236 |
ANNEXES
Operating Structure | 318 | |||
Ten-year Summary | 319 | |||
Directors of Group Companies | 320 | |||
Notice of Meeting | 321 | |||
Form of Proxy | 323 | |||
2 | ACCESS ENGINEERING PLC | Inner Back Cover... Corporate Information | ||
Annual Report 2021/22 | ||||
This is Access Engineering | ENDURING VALUES |
ABOUT ACCESS ENGINEERING
GRI 1022
Since our inception, Access Engineering PLC (AEL) has extensively contributed to the construction landscape in Sri Lanka through numerous completed construction projects. We collaborate across disciplines and industries like energy and resource, environmental and water to bring highly diversified projects to life.
We have set ourselves apart from the competition by way of innovative, one-of-a-kind solutions combined with our end-to-end project and engineering know-how. Recently we also ventured into the production of autoclave aerated concrete (AAC) blocks through a related diversification. Our workforce consists of staff and labour amounting to over
Key Facts
Established in 2001
Premier civil engineering firm in Sri Lanka
Over 2,900 employees
An island wide network of quarries, crusher plants, asphalt plants, and concrete batching plants along with the latest machinery
Has the highest CIDA grading across several disciplines of civil engineering
Accreditations for quality, environmental, and health and safety management systems
- ISO 9001:2015
- ISO 14001: 2015
- ISO 45001:2018
A signatory to the UN Global Compact.
A TRACE member in good standing
Project Portfolio
Over the years, our portfolio includes and is not limited to:
Bridges and flyovers
Roads and highways
Harbours and marine works
Airports
Water treatment plants and water supply projects
Land drainage and irrigation schemes
Power infrastructure
Telecommunication infrastructure projects
2,900. Managerial, professional and technical staff account for over 750.
Our strength, knowledge, and relationships, coupled with our world-class expertise, have allowed us to provide advanced, yet personalised engineering solutions to our stakeholders.
VISION
To be the foremost Sri Lankan business enterprise in value engineering.
MISSION
To meet the challenges in the development of multi-sector civil engineering projects, providing innovative solutions whilst developing long-term progressive relationships with all our stakeholders.
"Access Engineering Promise" | Recognition | |||||||||||||
To maintain the highest professional standards | Recognised as a "Major and Specialist | |||||||||||||
from planning and design to execution. | contractor" by the National Construction | |||||||||||||
Association of Sri Lanka. | ||||||||||||||
Subsidiaries and Joint Ventures | ||||||||||||||
Wholly owned subsidiaries: | Joint ventures: | |||||||||||||
AEL East Africa Limited | AEL has a 60% joint venture in Blue Star | |||||||||||||
Access Realties (Private) Limited | Realties (Private) Limited | |||||||||||||
Access Realties 2 (Private) Limited | Our associate Company, ZPMC Lanka | |||||||||||||
Company (Private) Limited, in which AEL has | ||||||||||||||
ARL Elevate (Private) Limited | a 30% stake is a joint venture with Shanghai | |||||||||||||
WUS Logistics (Private)Limited | Zhenhua | Heavy | Industries | Company | ||||||||||
Limited (ZPMC) of China, the world's | ||||||||||||||
Access Logistics Park Ekala (Private) Limited | largest | container | handling | equipment | ||||||||||
Access Logistics (Private) Limited | manufacturer | |||||||||||||
Other subsidiaries: | ||||||||||||||
Sathosa Motors PLC (84.42% owned) | Lanka AAC (Private) Limited (50% owned) | |||||||||||||
Access Projects (Private) Limited (80% owned) | Access Motors (Private) Limited | |||||||||||||
Harbour Village (Private) Limited (66.67% owned) | (42.21% owned) | |||||||||||||
The Company also has made an investment in Access - CHEC JV (Private) Limited
ACCESS ENGINEERING PLC | 3 |
Annual Report 2021/22 | |
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Access Engineering plc published this content on 05 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 September 2022 04:29:02 UTC.