Wednesday Dec 11, 2024
Wednesday Dec 11, 2024
Monday, 14 December 2015 00:00 - - {{hitsCtrl.values.hits}}
Managing Director Gerard Ondaatjie receiving the Finance Company sector bronze award
Mercantile Investments and Finance PLC (MI) excelled in financial reporting this year once again, this time winning three prestigious accolades at the CA Sri Lanka Annual Report awards competition held at Waters Edge on 3 December.
MI was able to bag two all island awards, securing all island silver award, for the best integrated annual report and went on to clinch the all island special award for the best disclosure on ‘business model’, surpassing cream of corporates in the process.
The company also was awarded the bronze, in the Finance Companies sector, for its FY 2014/15 annual report which was published under the theme ‘Journeying towards integrated value creation’. The theme highlights the company responsible and sustainable business journey for the last 50 years and its performance for FY 2014/15 in creating integrated value towards its key stakeholders.
For the second year running, the company produced an integrated annual report, drawing reference to the International Integrated Reporting Council’s recommended integrated framework. This added further ambiance to the report which is comprehensive in its disclosure on corporate governance reporting and risk management practices, apart from having the annual audited financial statements and supportive commentary. MI’s commitment towards sustainability was reiterated also through a well detailed sustainability section which covered the enterprise’s economic, social and environmental initiatives conducted during the year.
As a premier finance company in the industry, MI has stood committed in enhancing financial reporting standards of the company over the years, and in doing so embraces both local and international disclosure regulations, frameworks and practices. It is therefore no surprise that, MI has gone on to win the gold award 13 times previously, under the finance companies sector and has been able to secure international accolades for its past reports.
Mercantile Investments and Finance PLC is a Licensed Finance Company under the Finance Business Act No. 42 of 2011, listed on the Diri Savi Board of the Colombo Stock Exchange. MI boasts an expansive network of branches that span across the island to serve customers who come from every walk-of-life. The company has been in operation since 1964 and celebrated its golden jubilee last year.
