MALAYSIA-SRI LANKA BUSINESS CHAMBER SATURDAY, 9 DECEMBER 2025 9:30AM TO 11:30AM MALAYSIAN CEYLONESE NATIONAL COMMUNITY CENTRE - MCNCC CONTENTS REPORTS COMMITTE MSLBC
AGENDA MSLBC -9thAGM Notice &Agenda 1.Opening address by Chairman Mr. S.Logarajah. To confirm and approve the Minutes of the 8th AGM held on 15th December 2022. 2. Briefing on activities undertaken in 2022 and thereafter to confirm the Activity Report. 3. Presentation of Financial Report for year ending 31st December 2022 by Mr. Lim Say Huat, Hons. Treasurer, and thereafter to confirm the Financial Report. 4. 5.Consider and approve the Election of the 2023-2024 Executive Committee. 6.Consider and approve the Appointment of Auditors for 2023-2024. 7.New motions to be tabled for discussion. 8.Any other matter/s arising. 9.Closing remarks by newly elected Chairman. 10.Vote of Thanks. e. [email protected] | m. 012.518 0821 Date: 09thDecember2023 Place:Malaysian CeyloneseNational Community Centre(MCNCC) Time: 09:30amto11:30am MeetingReference:#005/AGM-2023 Dear Members of MSLBC, Notice is hereby given to all members that the 9th Annual General Meeting of the Malaysia-Sri Lanka Business Chamber will be held on Saturday, 9th December 2023 at 9:30am at Malaysian Ceylonese National Community Centre (MCNCC), No. 15, Jalan 18/16, Taman Kanagapuram, 46000 Petaling Jaya, Selangor in order to conduct the following business:
AGENDA MSLBC -8thAGMAGENDA Date:15thDecember2022 Place:@QiTower9thfloor ConferenceRoom Time:10:30am MeetingReference: #8thAGM/2022 Opening address by Chairman Dato Seri Kulasegaran. To confirm and pass the minutes of the 2021 AGM. Briefing on activities undertaken in 2021 and thereafter to confirm the Activity Report. Presentation of Financial Report for year ending 2021 by Mr Lim Say Huat, Hon. Treasurer, and thereafter to confirm the Financial Report. Election of new Office Bearers for the year 2023. New motions to be tabled for discussion. Any other matter/s arising Closing remarks by Newly Elected Chairman Mr.S.Logarajah 1. 2. 3. 4. 5. 6. 7. 8. e. [email protected] | m. 012.518 0821
MALAYSIA-SRI LANKA BUSINESS CHAMBERS MSLBC 8th AGM Minutes Date:15thDecember2022 Time:10:30am MeetingReference: #8thAGM/2022 Place:@QiTower9thfloor ConferenceRoom Pages :2of5 No.14A-8, 1st Floor, Tun Sambanthan Road, 30000 Ipoh, Perak Darul Ridzuan e. [email protected] | m. 012.518 0821 Dato’ Sri S.Kulasegaran, Chairman Mr Krishna Kumar, Deputy Chairman Mr Kanesan Veluppillai, Honorary Secretary Mr Lim Say Huat, Honorary Treasurer Mr J.Henry, Committee Member Mr S Logarajah, Committee Member Mr Magandran Muthiah, Committee Member Mr Praba Koran, Committee Member Mr Revin Rajan, Committee Member Mr Subramaniam, Committee Member Mr Muthusamy, Committee Member Mr Anand Sharvanandan, Committee Member Mr Chryshanta Kapuwatte Mr Singham Mr Jaya Dato’ Sri Chairman welcomed and thanked all members present for having taken the time to attend the meeting. Having established the requisite quorum, he then called the meeting to order. Dato’ Sri Chairman requested members present to observe a minute’s silence for those who departed from us during the year. On behalf of MSLBC, Dato’ Sri Chairman thanked Mr. Krishna Kumar for hosting the AGM at this convenient premises. Mr.Krishna Kumar thank on behalf of MSLBC current Dato’ Sri Chairman for his contribution throughout the tenure and request him to be our permanent adviser. The contribution of entire exco very much appreciated throughout the year. Executive Committee Members Present: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. Invitees Present: 1. 2. 3. Attendees
MALAYSIA-SRI LANKA BUSINESS CHAMBERS MSLBC 8th AGM Minutes Date:15thDecember2022 Time:10:30am MeetingReference: #8thAGM/2022 Place:@QiTower9thfloor ConferenceRoom Pages :3of5 No.14A-8, 1st Floor, Tun Sambanthan Road, 30000 Ipoh, Perak Darul Ridzuan e. [email protected] | m. 012.518 0821 The Minutes of the 7th AGM of the MSLBC held on 10 August 2021 were circulated earlier to members. Resolution 1: Approval of Previous Minutes The Minutes of the 7th AGM were approved as an accurate record of the meeting. Proposer : Mr Lim Say Huat Seconder : Mr Magandran Muthiah The resolution was carried unanimously. The Hon. Secretary reported on the activities of the MSLBC for 2021. Regular EXCO meetings were held in 2021 to update members on developments and activities. Resolution 2 : Approval of Programme Report The Programme Report for the 2021 was reviewed and approved. Proposer : Mr Magandran Muthiah Seconder : Mr Krishna Kumar The resolution was carried unanimously. Mr Lim Say Huat presented the accounts for the year ending 31st December 2021. Mr Lim also thanked Dato’ Sri Chairman, Mr.Kanesan and Mr.Krishna Kumar for their individual contribution of RM1,000.00 each under the Patron’s subscriptions. Resolution 3: Approval of Programme Report The Treasurer’s Report and the Audited Accounts for the year ending 31 December 2021 were approved. Proposer : Mr Krishna Kumar Seconder : Mr Magandran Muthiah The resolution was carried unanimously. 1. PREVIOUS MINUTES 2. PROGRAMME REPORT 3. TREASURER’S REPORT & AUDITED ACCOUNTS
Date:15thDecember2022 Time:10:30am MeetingReference: #8thAGM/2022 Place:@QiTower9thfloor ConferenceRoom Pages :4of5 The following EXCO Members were elected as Officer Bearers for the ensuing year. Resolution 4 : MSLBC EXCO The Minutes of the 7th AGM were approved as an accurate record of the meeting. Proposer : Mr Revin Rajen Seconder : Mr Subramaniam The resolution was carried unanimously. Dato’ Chairman recorded thanks on behalf of the MSLBC to Mr Gayan Koralage for his services as Hon External Auditors. It was proposed to re-elect Mr Gayan Koralage as auditors for 2022 – 2023. Resolution 5 : Re-Appointment of Auditors Mr Gayan Koralage and Mr. Magandran A/L N. Muthiah were appointed as Honorary/Internal Auditors for the term 2022 - 2023. Proposer : Mr Krishna Kumar Seconder : Mr Lim Say Huat The resolution was carried unanimously. 4. ELECTION OF 2022 – 2023 OFFICE BEARERS MALAYSIA-SRI LANKA BUSINESS CHAMBERS MSLBC 8th AGM Minutes No.14A-8, 1st Floor, Tun Sambanthan Road, 30000 Ipoh, Perak Darul Ridzuan e. [email protected] | m. 012.518 0821 5. APPOINTMENT OF AUDITORS: 2022 – 2023
Date:15thDecember2022 Time:10:30am MeetingReference: #8thAGM/2022 Place:@QiTower9thfloor ConferenceRoom Pages :4of5 Chairman - Mr. Logarajah a/l Subramaniam | 400507-01-5117 | 012.305 9450 Hons. Secretary - Mr. Henry a/l John | 721008-08-5003 | 012.518 0821 Hons. Treasurer - Mr. Lim Say Huat | 691105-04-5439 | 012.209 1539 Corresponding Address : - No.14A-8, 1st Floor, Tun Sambanthan Road, 30000 Ipoh, Perak Darul Ridzuan | e. [email protected] | m. 012-518 0821 ; +60 12-305 9450 Official Address : - No. 15, Jalan 18/16, Taman Kanagapuram, 46000 Petaling Jaya, Selangor Darul Ehsan This long-anticipated Sri Lankan Business & Investment Conclave 2019 was postponed earlier due to the disastrous setbacks resulting from the harsh effects of the Covid-19 pandemic that resulted in the economic disruptions and collapse in Sri Lanka. MSLBC was hoping that 2022/2023 might present a good opportunity to rekindle the project. Unfortunately, the economic situation and political uncertainties in Sri Lanka does not appear to support our enthusiasm for now. Hence it was decided to pursue the project when conditions in Sri Lanka look favourable. 6.1 The following individuals have been appointed as the new signatories: - 6.2 Corresponding The new exco committee unanimously agreed to use Hons. Secretary office address for any mailing & communication. A. Sri Lankan Business & Investment Conclave 2019 6. CHANGE OF SIGNATORIES & MAILING MALAYSIA-SRI LANKA BUSINESS CHAMBERS MSLBC 8th AGM Minutes No.14A-8, 1st Floor, Tun Sambanthan Road, 30000 Ipoh, Perak Darul Ridzuan e. [email protected] | m. 012.518 0821 OTHER ORDINARY BUSINESS
MALAYSIA-SRI LANKA BUSINESS CHAMBERS MSLBC 8th AGM Minutes No.14A-8, 1st Floor, Tun Sambanthan Road, 30000 Ipoh, Perak Darul Ridzuan e. [email protected] | m. 012.518 0821 prepared by J.Henry Hons. Secretary of MSLBC J.Henry approved by S.Logarajah Chairman of MSLBC S.Logarajah Mr Chryshanta Kapuwatte, the former Chairman of Road Works & Highway Authority was our special guest today. He addressed the meeting by first thanking the Chamber for the invitation to participate in today’s AGM. He said there are many viable opportunities for Malaysian investors to seriously consider investment in Sri Lanka once the current economic/political problems are resolved. He said that he will be happy to be the MSLBC/Malaysian Investors contact person in Sri Lanka, as required. MSLBC suggested that if Mr Chryshanta Kapuwatte could work with the Sri Lankan authorities if the Palaly, Jaffna International Airport can consider a couple of flights a week between Palaly and Kuala Lumpur. This will open up the skies for tourism and trade. He said that he will certainly take this up. B. Mr Chryshanta Kapuwatte – Special Guest The meeting concluded at 12.15 pm with a vote of thanks to the outgoing Chairman, Dato’ Seri S Kulasegaran for his immense contributions to MSLBC during a very difficult period.The new Board and the EXCO hope that Dato’ Seri will continue to guide and contribute much in his Advisory role to MSLBC. Date:15thDecember2022 Time:10:30am MeetingReference: #8thAGM/2022 Place:@QiTower9thfloor ConferenceRoom Pages :5of5
NOTES TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 1. GENERAL INFORMATION The objectives of the Chamber are to promote and foster close relations between Malaysia and Sri Lanka, in particular mutual understanding, goodwill, harmony and fraternity amongst the business communities of both countries. The Chamber is established on 2 July 2014 under the Societies Act, 1966, incorporated and domiciled in Malaysia The registered address for the Chamber is at c/o Scomi Group Bhd, Level 17, 1 First Avenue, Bandar Utama, 47800 Petaling Jaya, Selangor Darul Ehsan. The official correspondence address is ASLI, Khazanah ASLI Suite 1, Sunway Lagoon Club, No.3, Jalan Lagoon Timur, Bandar Sunway, 47500 Selangor Darul Ehsan. 2. SIGNIFICANT ACCOUNTING POLICIES a) Basis of preparation of the financial statements The financial statements of the Society have been prepared under the historical cost convention, except as disclosed in the summary of significant accounting policies. The financial statements comply with the MASB approved accounting standards in Malaysia for Private Entities. The preparation of financial statements is in conformity with the MASB approved accounting standards in Malaysia for Private Entities requires the Board Member to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reported financial year. Although these estimates are based on the Board members’ best knowledge of current events and actions, actual results may differ from those estimates.
b) Payables Payables are stated at the fair value of the consideration to be paid in the future for goods and services received. c) Cash and cash equivalent Cash and cash equivalent comprise of bank balances. d) Membership fees The subscription year of the Business Chamber is 1 January to 31 December. Membership annual fees are payable annually in advance. Only those membership annual fees which are attributable to the current financial year are recognised over time as income. 3. MEMBERSHIP FEES As at end of December 2022, membership fees received are summarized as follows: Contributing Members 2022 RM 2021 RM Corporate 1,500.00 300.00 Individual 600.00 500.00 2,100.00 800.00 Category Annual Fee Number of Contributing Members (RM) 2022 2021 Individual 100 6 5 Corporate 300 5 1 Associate 200 - - Total 11 6
4. ACCOUNTS PAYABLE AND ACCRUAL 2022 RM 2021 RM a) Advances from members 6,890.00 6,890.00 b) Luncheon Expenses 1,380.80 1,380.80 c) Travelling Expenses 1,416.00 1,416.00 9,686.80 9,686.80 Notes: a) Being advances made by former Chairman and former Deputy Chairman of RM3,445 each in 2016 in respect of the annual secretarial fees of RM6,890. b) Amount due to the former Chairman for hosting MSLBC lunch meeting on 16 October 2019 in welcoming the new Sri Lanka High Commissioner to Malaysia. c) Amount due to the former Chairman RM1,197 and a member RM219 for reimbursement of travelling expenses incurred for MSLBC participation at the Northern Provincial International Industrial Exhibition Business Forum (30 Oct – 1 Nov 2019) held in Sri Lanka. 5. OTHER PAYABLE Other payable represents advance subscription received from member and it will recognise as membership fee in respective year. During the year, no advance subscription received. 6. APPROVAL OF FINANCIAL STATEMENT The financial statements were authorised for issue by the Executive Committee on ____________.
Malaysia-Sri Lanka Business Chamber (Establised under Societies Act, 1966) STATEMENT BY EXECUTIVE COMMITTEE In our opinion, the financial statements are properly drawn up in accordance with the applicable Private Entities Reporting Standards so as to give a true and fair view of the state of affairs of the MALAYSIA-SRI LANKA BUSINESS CHAMBER as at 31 December 2022 and of the results and the cash flows for the financial year ended on that date. President Honorary Secretary Treasurer Kuala Lumpur, Malaysia Date :
REPORT OF THE AUDITORS TO THE EXECUTIVE COMMITTEE OF MALAYSIA-SRI LANKA BUSINESS CHAMBER We have audited the financial statement of MALAYSIA-SRI LANKA BUSINESS CHAMBER comprising the statement of assets and liabilities as at 31 December 2022, the income and expenditure statement and the cash flow statement and the notes to the financial statements of the Society for the financial year ended on that date. These financial statements are the responsibility of the Executive Committee. It is our responsibility to form an independent opinion, based on our audit, on these financial statements and to report our opinion to you, as a body, and for no other purpose. We do not assume responsibility to any other person for the contents of this report. We conducted our audit in accordance with approved standards on auditing in Malaysia. Those standards require that we plan and perform the audit to obtain all the information and explanation, which we considered necessary to provide us with sufficient evidence to give reasonable assurance that the financial statements are free of material misstatements. Our audit includes examining, on a test basis, evidence relevant to the amounts and disclosure in the financial statements. Our audit also includes an assessment of the accounting principles used and significant estimates made by Executive Committee, as well as evaluating the adequacy of the presentation of information in the financial statements. We believe our audit provides a reasonable basis for our opinion. In our opinion, the financial statements give a true and fair view of the state of affairs of MALAYSIA-SRI LANKA BUSINESS CHAMBER as at 31 December 2022 and of the results and cash flows for the financial year ended on that date in accordance with the Private Entities Reporting Standards. Chartered Accountants (Malaysia) Kuala Lumpur, Malaysia Date :
2022 2021 RM RM ASSETS Cash in bank 13,298.24 10,518.24 TOTAL ASSETS 13,298.24 10,518.24 LIABILITIES Accounts payable and accrual 4 9,686.80 9,686.80 TOTAL LIABILITIES 9,686.80 9,686.80 EQUITY Accumulated surplus/(deficit) 831.44 (3,245.23) Surplus for the year 2,780.00 4,076.67 TOTAL EQUITY 3,611.44 831.44 TOTAL LIABILITIES & EQUITY 13,298.24 10,518.24 MALAYSIA-SRI LANKA BUSINESS CHAMBER STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2022 The accompanying notes form an integral part of the financial statements 1
2022 2021 RM RM Revenue Membership fees 3 2,100.00 800.00 Contribution from members 700.00 1,000.00 2,800.00 1,800.00 Expenses Secretarial fee - (2,296.67) Bank charges 20.00 20.00 20.00 (2,276.67) Surplus for the year 2,780.00 4,076.67 The accompanying notes form an integral part of the financial statements 2 MALAYSIA-SRI LANKA BUSINESS CHAMBER STATEMENT OF PROFIT OR LOSS FOR YEAR ENDED 31 DECEMBER 2022
2022 2021 RM RM 2,780.00 4,076.67 - (3,296.67) 5 - (200.00) 2,780.00 580.00 2,780.00 580.00 10,518.24 9,938.24 13,298.24 10,518.24 Other payable The accompanying notes form an integral part of the financial statements 3 Net cash generated from operating activities Net increase in cash and cash equivalents Cash and cash equivalents at the beginning of year Cash and cash equivalents at the end of the year STATEMENT OF CASH FLOWS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2022 Cash Flows from operating activities Surplus for the year MALAYSIA-SRI LANKA BUSINESS CHAMBER Accounts payable and accrual Change in working capital:
MALAYSIA-SRI LANKA BUSINESS CHAMBER ACTIVITIES REPORT 2022-23 2022 brought relief to many countries as much of the setbacks associated with the disruptive Covd-19 came to an end. Businesses in Malaysia began to reconstruct and rebuild. For Sri Lanka it was a disastrous year with political and economic distress, high inflation, unemployment and depreciation of the Rupee. Much of the planned programs for the Chamber had to be set aside as Sri Lanka’s priorities shifted to stabilize the twin problems of politics and economy. The planned visit to Sri Lanka had to be deferred. The Chamber welcomed his Excellency. Air Marshal, Sumangala Dias, the new High Commissioner for Sri Lanka to Malaysia. His Excellency was invited to the Chamber’s Annual General Meeting, where he met some of the Chamber’s Executive Committee members. The Chamber was invited by His Excellency for a brain storming session to help Sri Lanka overcome its sagging economy. The Chamber was well represented and supported the need to promote tourism and investments. The Hon Secretary continued to liaise with MATRADE and MITI. The 2022 AGM was held on15 December with a new line up in the EXCO. 2023 MATTERS ROS Annual Returns For 2023, the immediate priority was to update and submit the Chamber’s Annual Returns to the Registrar of Companies. The Hon Secretary and the Chairman devoted much time to retrieve, update and complete the Annual Returns to ROS with the help of outside services. Secretarial Records Historical Chamber’s Secretarial Records were stored by the Sunway group and efforts are continuing to retrieve all the records as these must be retained by the Chamber. Sri Lanka Business & Investment Conclave The planned Sri Lanka Business Investment Conclave had to be postponed due to the political and economic disruptions in Sri Lanka. This project should be seriously considered in 2024 as there are positive developments and improvements in the country.
MALAYSIA-SRI LANKA BUSINESS CHAMBER ACTIVITIES REPORT 2022-23 Palaly (Jaffna) Airport Project) The Chamber has been consistently advocating that air services between Jaffna and Kuala Lumpur be introduced. This idea was first mooted by the Chamber when the Chamber met with the Governor of the Northern Province in early 2019. However, during the Covid-19 the disruptions the subject was set aside due to other priorities. Again, this subject was brought up with the High Commissioner, who supported the move and is liaising with the relevant authorities in Sri Lanka. With the introduction of their services, much trade and tourism will benefit both countries. The Chamber should follow-up on this project for 2024. Just Enough Tech Savvy (JETS) Program On 9 September 2023, the Chamber initiated a Just Enough Tech Savvy (JETS) session at the Malaysian Ceylonese Community Centre, to enlighten members on Digital technology.45 participants attended the 3-hour program, conducted by an expect, Mr.Sivashankar participants found the program pertinent. Visit by SLMB A 20-member delegation from the Sri Lanka Malaysia Business Chamber visited Malaysia to meet with Trade organisations, Government Bodies and business leaders from 29 September to 3 October.2023. MSLBC met with the delegation on 30 October for a briefing session and hosted a lunch for the group at Sri Aman Club. The High Commissioner and his deputy were invited to the session and the lunch. Visit to Sri Lanka MSLBC should plan to visit Sri Lanka in 2024. Membership Register Work to establish and update the important Membership Register continues.