Business
SEC, CSE and CA Sri Lanka to capitalize on synergies to encourage and advance non-financial reporting
The Securities and Exchange Commission of Sri Lanka (SEC), the Colombo Stock Exchange (CSE) and the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) recently signed a Memorandum of Understanding (MoU) to encourage and advance non-financial reporting in Sri Lanka.
Through the MoU, the three institutions aim to capitalize on mutual interests and synergies to jointly deliver awareness on Integrated Reporting, Corporate Governance, Sustainability and other ESG focus areas. Furthermore, the MoU also paves the way for broader cooperation on ESG, including dialogue and consultations on driving progressive ESG policies & frameworks and the introduction of ESG focused new products in the capital market and joint stakeholder engagement on advancing ESG.
Chairman of the SEC Viraj Dayaratne PC commenting on the development stated “The MoU with CA Sri Lanka brings together three like-minded institutions, with the common goal of establishing more elaborate and transparent reporting of non-financial information in Sri Lanka. The MoU lays a long-term foundation for the SEC and CSE to work with CA Sri Lanka to introduce policies to ensure that Sri Lankan corporates report more progressively and in-line with international standards, especially in relation to the meaningful disclosure of non-financial information.”
Chairman of CSE Dilshan Wirasekara commenting on the MoU said “Through this MoU, the CSE aims to work with the SEC and CA Sri Lanka to encourage more Sri Lankan corporates to use non-financial reporting as a means to deliver trust and confidence to the market on long term value creation. Our joint efforts also will focus on aligning the interests of institutions that report on non-financial performance with those who use such information such as investors, analysts and others, which will result in further enhancing the quality of non-financial information and encourage informed decision making.”
President of CA Sri Lanka Mr. Sanjaya Bandara said “Along with financial information, non-financial information is essential for presenting a more comprehensive picture of corporate performance, and CA Sri Lanka is dedicated to promoting both financial and non-financial reporting in our position as the national body of accountants and as the sole standard-setter. Therefore, we are happy to partner with SEC and CSE in this landmark endeavor in our joint efforts to encourage and advance non-financial reporting in Sri Lanka.”
Chairman Viraj Dayaratne PC and Director General Chinthaka Mendis were signatories to the MoU from the SEC while Chairman Dilshan Wirasekara and CEO Rajeeva Bandaranaike signed on-behalf of the CSE. President Sanjaya Bandara was the signatory from CA Sri Lanka. SEC Commission Member and Immediate Past President of CA Sri Lanka Manil Jayesinghe, CA Sri Lanka CEO Ms. Dulani Fernando and other senior officials from the SEC and CSE were also present at the event.
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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