Business
CA Sri Lanka’s Non-Financial Reporting Guideline, a key to business sustainability – SEC chairman
By Hiran H.Senewiratne
The Non-Financial Reporting (NFR) Guideline to promote non-financial reporting practices among companies would enable the sustainability of any business entity and lead to social governance for the betterment of society, Securities and Exchange Commission of Sri Lanka (SEC) chairman Viraj Dayaratne said.
“Developing a NFR Guideline for listed and non- listed companies when preparing annual reports promotes not only the sustainability for the organization but also helps it to promote social equity and justice and fairplay, Dayaratne said at the launch of the Chartered Accountants of Sri Lanka’s Non- Financial Reporting Guideline for companies. The event was held at the CA- Sri Lanka auditorium on Wednesday.
The SEC chairman said that having a NFR guideline of this nature would enable business leaders to take future decisions, like investments on behalf of the company, and also enable them to take sustainability related risks for companies in a competitive business environment.
Dayaratne added: ‘Best accounting standards create public confidence while the Non-Financial Reporting Guideline will support the company’s integrated corporate activities.
‘SEC, being the stock market regulator, intends to promote these NFR Guidelines among listed companies. This Non- Financial Reporting Guideline will strengthen and ensure fair and balanced corporate reporting among companies, while also promoting non-financial reporting practices amid growing demands from diverse stakeholders and enhancing corporate social responsibility.’
CA-Sri Lanka president Sanjaya Bandara said that the aim of this guideline is to help companies show high quality relevant useful, consistent and comparable non-financial information spanning economic, environmental, social and governance related matters to ensure sustainable growth while providing transparency and accountability to all stakeholders of corporates that produce annual reports
“This guideline will firstly provide a new framework for reporting non-financial information and also the development of the capital market in our country, Bandara said.
Chairman, CA Sri Lanka Task Force to Develop Non-Financial Reporting Practices in Sri Lanka Nuwan Withanage said that the NFR Guideline has been developed with the aim of delivering investor oriented sustainability related disclosures, focused on enterprise value creation over the short, medium and long terms.
The NFR Guideline has been developed for all entities, including listed and unlisted as well as large to small and medium sized enterprises in Sri Lanka, which produce annual reports and follow the Economic, Environment, Social and Governance (EESG)framework.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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