SLID encouraged by Trinco response to good governance

Friday, 21 September 2012 00:01 - - {{hitsCtrl.values.hits}}

The Sri Lanka Institute of Directors (SLID) hosted a workshop on ‘Conducting Business Responsibly’ for business enterprises based in Trincomalee, and its outskirts, on 15 September 2012 at the Chaaya Blu Resort Hotel Trincomalee. The SLID was assisted in its endeavours by the Chamber of Commerce and Industries of the Trincomalee District. The workshop was attended by 100 persons of whom approximately 50 per cent were female entrepreneurs.

After introductory remarks by Chamber of Commerce and Industries – Trincomalee Chairman V. Kalaichelvan and SLID Chairman Ronnie Peiris, the workshop was addressed by Colombo Univerity Department of Commercial Law, Faculty of Law Head Indira Nanayakkara who briefed the audience on the different types of organisations, their features, their advantages and disadvantages, and the steps to be taken in forming a company. She also described to the audience the various documents which are required to form a company and the fees associated with the same. An enthusiastic audience asked several questions and it was very apparent that they were hungry for information and were very keen to take the first steps in conducting business responsibly.

Nanayakkara’s address was followed by TWO presentations by former Nestles Finance Director Rasakantha Rasiah and currently a director in many listed companies. He gave a “practical” description of corporate governance and sustainability and also described the frameworks of calculating personal and corporate tax. In his address he emphasised the need to be compliant with the laws of the country. Once again, a highly interactive audience asked several questions which Mr. Rasiah answered effectively in both English and Tamil.

The workshop was conducted in English, Sinhala and Tamil and judging by the interactive participation, it was obvious that the conducting of the workshop in three languages was effective and had given a platform, and an opportunity, to the participants to engage with subject experts with freedom and confidence.

Encouraged by the success of the Trincomalee workshop, the SLID, now, has two immediate plans; i.e., to hold an awareness programme for SMEs in Colombo, and to hold a ‘Conducting Business Responsibly’ workshop in Hambantota.

SLID President Ronnie Peiris remarked that judging by the Trinco experience there was so much more that the Institute could do. He added, “The ends are many but the means are limited,” and he hoped that the institute which is now an organisation, Limited by Guarantee, can attract funding for the dissemination of corporate governance on a much broader scale at a significantly

intensified pace.