A year of
steady progress
We sketch an ambitious
future together
ABOUT LAVASTONE
Our Mission
Partnering with our stakeholders to deliver superior value in design, quality, sustainability and services.
Our Vision
To be the preferred partner for commercial real estate solutions, while delivering optimum returns, to our shareholders.
Our Values
Agility
We seek to unleash our capacity to quickly and best understand opportunities and threats so we can adapt accordingly, choosing the most appropriate course of action and energetically implementing it.
Care
We foster a family spirit built on integrity to encourage sustainable communities.
Humility
We understand we are not perfect and aim to learn from others through each encounter, in order to keep improving.
Passion
We constantly push beyond our limits, challenging the status quo with innovative solutions.
OUR
MILESTONES
BOARD
OF DIRECTORS
Colin holds an MSc in Management from Imperial College, London, and a BSc (Hons) in Engineering with Business Studies from Portsmouth Polytechnic. He is the Chairman and CEO of Taylor Smith Investment Ltd, a diversified group of companies operating in marine services, logistics, cement importation, manufacturing and property. He also serves on the board of several private companies.
Directorship in other listed companies: CIM Financial Services Ltd
Colin Taylor
Non-Executive Director and Chairman
Gaetan Ah Kang
Non-Executive Director
Gaetan spent the first 6 years of his career working in an audit firm in the UK, before returning to Mauritius in 1992 to join De Chazal Du Mée in an Audit role. He subsequently moved to the Risk and Audit Team of the Rogers Group in 1994, before he became the Finance Manager of the Rogers Group’s Engineering Cluster in 1999. Since 2004, Gaetan has been the Group Finance Director and a member of the Audit and Risk Committee of the Taylor Smith Group. In 2021, Gaetan headed the financial and due diligence aspect of the Group’s acquisition of Lafarge Holcim Indian Ocean, now known as Cementis. Gaetan is a member of the Institute of Chartered Accountants in England and Wales (ICAEW).
Directorship in other companies: None
Ann Charlotte Vallet is the Founder, Chairperson and Manager of the Taylor Smith Foundation, an entity created in 2010 through the Taylor Smith Group and whose mission is to contribute to sustainable development, with a focus on economic, social and environmental pillars. The foundation promotes education and youth development, the empowerment of women and families, sports and the protection of the environment.
Directorship in other listed companies: None
Ann Charlotte Vallet
Non-Executive Director
Nicolas Vaudin
Executive Director and Managing Director
Nicolas holds an MBA from Surrey European Management School, University of Surrey, Guildford, UK, and a Bachelor of Applied Science in Hospitality Administration from Southern New Hampshire University, Manchester, USA.
In February 2017, he joined Cim Group as the Managing Director for the Cim Property cluster. He played a significant role in the rebranding and restructuring of the cluster, which led to the listing of Lavastone Ltd on the DEM in December 2018. Following this, Nicolas was appointed as the Managing Director of the Lavastone Group.
Prior to his tenure with Cim Group, Nicolas amassed significant experience in real estate. He spent over six years at Ciel Properties Ltd, where he played a pivotal role in the development of Anahita. Thereafter, he spent another six years at PricewaterhouseCoopers Ltd, leading the real estate advisory practice.
Directorship in other listed companies: None
After obtaining a BSC in Hotel Management at the University of Surrey (England) in 1989 and an MBA in Corporate Finance in 1994 also at the University of Surrey, Philip relocated to Mauritius and assumed a leadership role in the international development division of the Rogers Group. In 2010, Philip established his own business development advisory firm, which undertakes diverse projects including property development, energy, logistics, financial services, hospitality, and tourism. Currently, Philip is at the helm of an innovative hospitality digital services and travel & tourism intelligence company entitled www.hospitality-plus.travel.
Furthermore, he is a Non-Executive Director on the Board of CIM Financial Services Ltd, Lavastone Ltd, and several other non-listed companies. He serves as a member of the Corporate Governance and Conduct Review Committee of CIM Financial Services Ltd. Philip is also the Honorary Consul of Finland in Mauritius.
Directorship in other listed companies: CIM Financial Services Ltd
Philip Simon Taylor
Non-Executive Director
Jose Arunasalom
Independent Director
Jose holds a Bachelor’s degree in Economics and a Master’s degree in International Relations. He has held various senior executive positions within the private sector in Mauritius, after which he filled significant governmental roles over a remarkable 23-year period, including a tenure as Minister of Tourism.
Jose’s expertise extends beyond his domestic involvement, as he serves as a Director on the Board of two Equity Funds, and has advised governments in Madagascar and Africa. Additionally, he has been elected as a Member of the National Assembly for five consecutive terms.
Jose is the Economic Adviser of the Rodrigues Regional Assembly and a fellow member of the Mauritius Institute of
Directors. Directorship in other listed companies: None
Vijaya holds an LLB (Hons) from the University of London and a Diploma in Code Civil Mauricien from Université de La Réunion. She also holds a BA (Hons) degree in Geography and an MSC in Town Planning from the University of Wales.
She is a Barrister at Law, specialising in private legal practice, with an impressive 17 years of experience at the bar. While this is, in fact, her second career, her first career was in the planning practice, which she started in the United Kingdom following her professional training. Fueled by a desire to serve her country, she returned to Mauritius to pursue her planning career, where she held the esteemed position of Chief Technical Officer at the Ministry of Housing and Land Use Planning in Mauritius up to December 2005. She joined the Bar in March 2007, following her pupillage at the State Law Office and Mardemootoo Solicitors (now Dentons).
Vijaya’s professional journey includes serving as a consultant for the European Union’s Decentralised Cooperation Programme and the United Nations Development Programme in Mauritius. Her expertise also extends to the global stage, as she has assumed the role of Lead Author for the Review of Impacts of Climate Change at the Intergovernmental Panel on Climate Change (IPCC) based in Geneva. Her active involvement in various climate change initiatives is a testament to her dedication, which has also led to her being invited, since the 1990s, to speak on the effects of climate change on small island nations.
Vijaya’s latest venture is the recent launch of “44, Rue du Pouce” at Caudan Arts Centre on 16 October 2023, authored under her maiden name Annaruby Soopramanien. The book is a deep dive into the pre-independence era of Port Louis, in particular, the almost arcadian Ward IV region of the capital where she grew up in the 1950s. Vijaya looks forward to contributing further to sustainable development in Mauritius and promotion of greater social justice through her interventions at the Bar in favour of aggrieved Parties. During her career, she has also appeared twice before the Privy Council as Junior Counsel.
Directorship in other listed companies: None
Vijaya Lakshmi Anna (Ruby) Saha
Independent Director
Vedanand Singh (Shyam) Mohadeb
Independent Director
Shyam, Chartered Accountant and former Senior Assurance Partner at PwC (Mauritius), is a financial consultant specialising in the financial and realty sectors. He qualified as a Chartered Accountant in Belfast , Northern Ireland, with the local representative of Touche Ross.
Upon his return to Mauritius, he joined Kemp Chatteris as an audit senior, until he was made a partner in January 1985. He managed a varied audit portfolio of companies operating in the banking, sugar,manufacturing and commercial sectors, enabling him to garner deep industry knowledge.
In 1987, Shyam left Kemp Chatteris to form Price Waterhouse, alongside other founder partners. Between 1988 and his retirement as a senior assurance partner, he continued to serve several companies in different sectors of the economy, including acting as a financial advisor to two major textile companies and helping to turn them around. During his tenure at PwC, and also at Kemp Chatteris, he carried out several insolvency assignments.
Since July 2015 , Shyam has been serving as an Independent Director and financial consultant serving the realty and financial sectors.
Directorship in other listed companies: None
KEY
SENIOR OFFICERS AND EXECUTIVES
Jessica is a qualified HR professional, with 10 years of extensive HR experience spanning the hospitality, manufacturing, services and real estate sectors. She earned her Diploma in Management, with a specialisation in Human Resource Management, from the University of Mauritius in2014, and a Master’s Certification in Neuro-Linguistic Programming, equipping her to effectively manage and guide teams.
Employed by Taylor Smith, Jessica joined Lavastone Properties as the outsourced HR Operations Manager in October 2020. She provides hands-on HR solutions, bringing her problem-solving skills, coaching skills and empathetic nature to create a positive work environment at Lavastone Properties, where employees feel empowered to thrive in their roles.
Jessica Sumputh
HR Manager
Alex Lan Pak Kee
Head of Finance
Alex holds a BA (Hons) in Accounting and Finance from the University of Manchester. He joined Lavastone Properties as a Finance Manager in March 2020 and subsequently became the Financial Controller of the Group in October 2021. Alex was promoted to Head of Finance of the Group in January 2024.
Before joining Lavastone Properties, he worked as an Accountant within Medine Limited’s property cluster from May 2017 to March 2020. Prior to that, from August 2013 to April 2017, Alex was a Senior Associate within the assurance department at PwC (Mauritius), where he was in charge of external audit assignments in sectors ranging from property and hospitality to textile, life insurance and petroleum.
Alex is a member of the Institute of Chartered Accountants of England & Wales (ICAEW).
Our Organisational Structure
as at 30 September 2024
OUR
ACTIVITIES
We allocate capital towards the acquisition and development of new properties and the redevelopment of existing assets to attract quality tenants, participate in growing our existing tenants’ businesses, and deliver better returns to our shareholders. To achieve this, we develop modern, sustainable and enriching properties to increase their yielding value.
Property Investment & Development
Property Management
Through Lavastone Services Limited, we diligently evaluate and respond to our tenants’ changing needs with respect to their day-to-day operations, security, maintenance, repairs and general upkeep. To facilitate this, and to become more energy-efficient, we invest in smart technologies across all our properties .
We actively manage our existing properties, whilst also investigating new acquisition opportunities that enable us to strengthen and diversify our portfolio. We regularly perform building surveys and asset reports to identify assets we can dispose of, using the capital to invest in sites with higher long-term yields and capital growth prospects.
Portfolio Management
AT A GLANCE
Sector split by revenue
Sector split by GLA
Sector split by value
Yielding v/s non yielding
HIGHLIGHTS
Non-Financial highlights
