Delegation from Japan to visit Colombo this week

A team from Tokyo will visit Sri Lanka this week to negotiate the terms and conditions of the debt restructuring bilateral agreement between Sri Lanka and Japan based on the MoU signed in July and hoped that the bilateral agreement between Sri Lanka and Japan will be signed soon probably early next year Chief Representative of the Sri Lanka Japan international Cooperation Agency (JICA) Tetsuya Yamada, told the CA Sri Lanka 59th TAGs Awards ceremony in Colombo on Thursday.

Yamada said JICA had decided to commence all 11 loan projects which was suspended for two years upon signing the debt restructuring MoU of official creditors committee and Sri Lankan Government which happen in July this year.

Since July after they restarted their disbursement and procurement up-to-date over USD 100 million has been disbursed.

He said their client Airport Aviation has retendered for the project in BIA and their client in the health sector has submitted a tender to build a hospital which will have the main laboratory for five hospitals. And they were also able to announce tenders for three grand projects which were already awarded.

Meanwhile, Hayleys PLC, clinched the Gold Award for Overall Excellence in Corporate Reporting, while Diesel & Motor Engineering PLC secured the Silver, and both Commercial Bank of Ceylon PLC and Softlogic Life Insurance PLC shared the spotlight by jointly taking home the Bronze.

A total of 10 organisations were recognised as the ‘Top 10′ for their outstanding corporate reporting. The companies were Commercial Bank of Ceylon, Ceylinco Life Insurance Limited, Diesel & Motor Engineering, Hayleys, Hatton National Bank, John Keells Holdings PLC, LB Finance, Peoples’ Leasing & Finance PLC, Sampath Bank, and Softlogic Life Insurance.

In the special awards segment, outstanding achievements in corporate reporting were also celebrated across multiple categories. Under the Corporate Governance Disclosure, Financial Services category, Commercial Bank of Ceylon PLC secured the Gold, Hatton National Bank PLC won the Silver, while Softlogic Life Insurance PLC and Ceylinco Life Insurance Limited shared the Bronze. In the Corporate Governance Disclosure, Non-Financial Services category, Hayleys PLC won Gold, Diesel & Motor Engineering PLC bagged the Silver, and John Keells Holdings PLC earned the Bronze.

President of CA Sri Lanka Hashanah Kuruppu said, “The global emphasis on environmental, social, and governance (ESG) considerations has elevated the importance of sustainability in corporate reporting.”

“Although many large-scale corporations and export-oriented businesses have prioritised these efforts, there is still potential for further improvements.”

In addition, organisations were also honoured across 34 different sectors, showcasing the diversity of corporate reporting excellence across industry.

Hayleys wins Overall Excellence in Corporate Reporting at TAGS Awards again

Hayleys PLC reached a pinnacle of achievement in corporate reporting, winning the coveted ‘Cyril Gardiner Memorial Trophy’ Gold Award for Overall Excellence in Corporate Reporting at TAGS Awards 2024.

Since the inception of the TAGS Awards in 2022, Hayleys has consistently claimed this top honour, firmly establishing itself as the benchmark for financial and sustainability reporting in Sri Lanka. Winning a remarkable total of 20 awards across the Group this year, Hayleys exemplifies its collective commitment to enhancing the credibility, transparency, and relevance of its reporting.

Chairman and Chief Executive of Hayleys, Mohan Pandithage noted, “We are delighted to receive this recognition yet again, demonstrating our commitment to the four pillars of transparency, accountability, governance and sustainability. These principles are embedded in the way we run our business and this is demonstrated in the quality of our reports.”

In addition to winning the event’s flagship award, Hayleys PLC also clinched Gold Awards for Sustainability Reporting, Integrating Reporting, Corporate Governance Disclosure (Non-Financial Services) and Diversified Holdings companies with Turnover in excess of Rs. 50 billion. The Group won a total of 13 Gold Awards which included sector wins. Picture by Sudath Malaweera.

Source: Daily News