Abans Plc won the Silver Award under the Trading Companies category for the second consecutive year at the 55th Annual Report Awards 2019, conducted by the Institute of Chartered Accountants of Sri Lanka at a ceremony held on 3 December at Shangri-La Colombo.
The Chief Guests at the function were Parliamentarian Anura Priyadharshana Yapa and Sri Lanka Central Bank Governor Dr. Indrajit Coomaraswamy.
The prestigious award was another significant achievement by Abans Plc and amply demonstrated its commitment not only in the field of retail trading but also for proper financial reporting, good governance, social responsibility, ethical business practices, etc. The award was received by Group CFO Chandrika Perera and the finance team.
This year, ICASL received applications from a wide range of organisations, from conglomerates and multinationals to small and medium-sized enterprises and non-profit organisations who vied for the prestigious awards that span a history of more than half a century. This shows the Board’s willingness to showcase its commitment towards transparent and effective communication to stakeholders through the publication of informative and precise annual reports, thereby promoting effective presentation of financial and non-financial information, and compliance with legislative requirements and generally accepted accounting practices.
Abans Plc is the flagship company of the Abans Group, which is a diversified conglomerate of over 30 independent companies involved in various trading and manufacturing activities and providing a host of integrated services. The company broad-based its shareholdings and became a publicly-quoted company on the Colombo Stock Exchange. The company, founded by Aban Pestonjee, bears more than 50 years of entrepreneurship.
Abans Plc, the trading arm of the Abans Group, is the market leader and sole agents in Sri Lanka for the world’s leading electronic and home appliances brands which are marketed through a network of showrooms and authorised dealers’ island-wide. Abans is a household name in Sri Lanka, trusted for quality and durable products at affordable prices.