b. has installed an Environmental Management System which
Heritance Kandalama is integrated to natural
preservation of 198acres of conservation forest to ensure protection of
bio-diversity. This includes protection of 11streams providing irrigation water
to dry zone reservoirs. Also, it improved the irrigation and accordingly abandoned
paddy fields are now cultivated.
Further it ensures to avoid disturbance and harm to
the impressive bio-diversity indicators like native flora, birds and
butterflies, mammals, reptiles and amphibians.
Aitken Spence strives to exceed all legal and
compliance requirements for sustainable operations. Accordingly, it ensures to
provide a safe working environment by complying with health and safety
requirement while conducting businesses by adhering to UNWTO Global code of
ethics for tourism. Kandalama Hotel obtained the Green Globe 21 standard
certification as the first hotel in Asia to do so.
Tea Factory reduces carbon emissions by using Grilicidea plants when generating
hot water and nourishes the soil.
Kandalama Hotel has installed an Environmental
Management System which became the benchmark for other hotels.
Aitken Spence Hospitality Training School trains
regional youth for free of charge and 90% of them are recruited for its hotels.
Aitken Spence provides counselling to employees, their
families and community regarding prevention and control of life threatening
deceases like HIV.
Recommendation-166- 170- 215
Nowadays, companies strive to get a grasp on
competitive edge to rise above its competitors. Accordingly Aitken Spence PLC
has successfully adapting diversification through overseas investments and
enhanced its image through its enormous contribution towards society and
Accordingly the group expanded its operations by
acquiring the 6th island in Maldives, acquired its first property in
India, and acquired Al Falaj Hotel in Oman along with diversification of its
operations throughout Sri Lanka which will enhance its future profitability.
The Group’s social and environmental disclosure
illustrates its unique and valuable contributions which helped this giant
conglomerate’s success throughout the past. Thus it helps to gain tourist
attraction, enhance customer base, maximize employee and customer satisfaction
leading towards performance, turnover and profits.
It should also be noted that the group is currently
evaluating potential impacts of these standards illustrating its earnestness to
effective adaption, complied and standardized business model.
However, it is identifies that the company has been
adversely affected by depreciation of the Rupee particularly due to foreign
currency borrowings. Anyhow, the management is focused on overcoming this
through financial instruments such as currency swaps.
Thus, the overall
interpretation of this report illustrates that it is viable to invest in Aitken
Spence PLC due to its high profitability and exposure towards maximizing