Ace Tours Worldwide Ltd Management Discussions

DISCLAIMER ON FORWARD LOOKING STATEMENTS

This report contains some forward looking statements which can be identified by the context to the words like ‘plans’ expects, believes, anticipates, will, may, intends, projects etc. All such statements depict the future which may or may not happen or may prove wrong. These statements are based on certain assumptions about the company, product or other factors affecting the business or trade or policies of regulators and expectations may not realize. The company and its management hereby disclaim its responsibility to publicly amend these statements and assume no responsibility for them.

INDUSTRY STRUCTURE & DEVELOPMENT

Travel & Tourism is an important and leading industry in most countries around the world. This industry contributes actively in revenue generation and employment generation directly and indirectly through the supply of many goods and services that inputs to the tourism industry. This Industry also provides substantial growth to the country across various socio-economic segments with a strong platform for generation of Foreign exchange. The Company has planned several value added offering to attract domestic tourist as well as international tourists.

OUTLOOK, OPPORTUNITIES AND THREATS

In spite of aggressive thrust from Government and tourism agencies, no one can be sure how many tourists are coming in season or non-seasonal environments. However, uncertainty is never threatened to the entrepreneurs with intrinsic business acumen and challenge loving Executives.

RISK & CONCERNS

Tourism is considered to be quite sensitive to socio-political situations in a country. Hence basically being a seasonal business; lower revenues in the non peak season do make significant dent in the revenues and call for quite a discreet spending under various heads of expenditure. Your Management hence has been monitoring the situation both from quantitative and availability point of view. Course corrections are implemented which are definitely beneficial to achieve the growth.

INTERNAL CONTROL SYSTEMS

The Company has adequate internal controls systems towards achieving efficiency and effectiveness in operations, optimum utilization of resources, and effective monitoring thereof as well as compliance with all applicable laws.

FINANCIAL PERFORMANCE

The Company s Performance is given in the Financial Statements (Balance Sheet and Profit & Loss Account) annexed with Annual Report of the Company.

HUMAN RESOURCES MANAGEMENT

The Companys belief in trust, transparency and teamwork improve employee efficiency at all levels. The Companys commitment to harmonious industrial relations resulted in enhancing effectiveness of operations and enabled the achievement of international benchmarks in tourism business The companys ongoing objective is to create an inspirational work climate where talented employees engaged in creating sustained value for the stakeholders. Training and orientation programs are being arranged periodically, to update the employees in the work techniques. The overall human resources are positive and we would be able to effectively achieve the desired objectives. The Company has developed an environment of harmonious and cordial relations with its employees.