11. INVESTMENTS   Close Window

(All amounts in Sri Lanka Rupees millions)   Group Company   2003 2002 2003 2002 Investment in subsidiary [Note (a)] – --------- – --------- 25 --------- 25 --------- Investment in subsidiary/associate company         At 1 January – 441 1,334 441 Share of result of associate – (29) – (29) Conversion of associate to subsidiary – (412) – – Additions [Note (b)] – – 638 922 At 31 December --------- – --------- --------- – --------- --------- 1,972 --------- --------- 1,334 ---------           Investment in others [Note (c)]         At 1 January 710 710 710 710 At 31 December --------- 710 --------- --------- 710 --------- --------- 710 --------- --------- 710 --------- Aggregate value of investments at 31 December 710 ====== 710 ====== 2,707 ====== 2,069 ======               (a) The investment in the subsidiary company consists of 2,500,000 ordinary shares, representing a 100% holding in the issued share capital of Sri Lanka Telecom (Services) Limited. (b) The short-term loan of Rs. 138 million provided to Mobitel (Private) Limited was converted to ordinary shares and another allotment of share capital of Rs. 500 million comprising 50 million ordinary shares were made to Sri Lanka Telecom Limited on 28 August 2003. (c) The investment in others represents unlisted investments in Intelsat and Inmarsat, the international satellite consortia.

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