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 1022

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.