Mercantile Investments and Finance’s Annual Report wins two international awards
Thursday, 29 August 2013 00:00
The Mercantile Investments and Finance PLC (MI) Annual Report for 2012/13 has received two international awards for excellence in presentation and analysis within the finance category. MI won a bronze award in the Financials – Diversified Services category at the Vision Awards, organised by the League of American Communication Professionals (LACP) and a bronze award in the Financial Data – Financial Services category at the ARC Awards, organised by MerComm Inc. The LACP and MerComm Inc. are two of the world’s most ardent advocators of professional communications. Both award schemes were conducted in New York and attracted a worldwide representation of businesses.
The two latest international awards bring MI’s total number of international awards to four, indicating the company’s aptitude for speaking about its business affairs in a common global language. MI follows the International Financial Reporting Standards (IFRS) when compiling its annual reports in an effort to level the playing field at a local and international level.
The 27th International ARC Awards attracted a record-breaking 2,260 entries from 34 countries this year, while the Vision Awards drew more than 6,000 entries representing 24 countries. Competing and winning in such company is a testament to the accurate and intelligible manner in which MI maintains its reporting standards.
For 12 consecutive years, MI has won gold awards in the finance company sector at Sri Lanka’s most prestigious annual reporting competition, organised by the Institute of Chartered Accountants of Sri Lanka. MI is the only Sri Lankan company to triumph in the Financial Services – Financial Data category at the ARC Awards. The bronze award was also the highest honour awarded to a company at the ARC Awards, in the Financial Data – Financial Services category.
“To win in the financial data category validates our ability to successfully present our ‘bread and butter’ in a transparent manner for the benefit of all our stakeholders. Incidentally, this year’s annual report titled ‘Inclusive Growth Flows’ is a tribute to our stakeholders who we systematically integrate into our business dealings,” said MI Managing Director Gerard Ondaatjie. ‘Inclusive Growth Flows’ was conceptualised and designed by Smart Media, the annual report company.
MI is a licensed finance company under the Finance Business Act No. 42 of 2011, incorporated in Sri Lanka on 15 June 1964 under the Companies Ordinance No. 51 of 1938 and re-registered under the Companies Act No. 7 of 2007. Renowned for specialising in the business of leasing, hire purchase financing, loans and advances and mobilisation of deposits, MI caters to customers that come from all walks of life. The company has a diverse and growing network of branches scattered across the country and supported by a highly skilled workforce.