CIMA together with ICC Sri Lanka and Daily FT on Wednesday presented the winners of Sri Lanka’s Most Admired Companies 2020 Awards competition.
The top ten companies in alphabetical order are:
- Bank of Ceylon
- Cargills Ceylon PLC
- CBL Investments
- Commercial Bank of Ceylon PLC
- Dilmah Ceylon Tea Company PLC
- Hatton National Bank PLC
- LOLC Holdings PLC
- NDB Bank PLC
- People’s Bank
- Sri Lanka Telecom PLC
- The five honourable mentions in alphabetical order are:
- Aitken Spence PLC
- Ceylinco Life Insurance Ltd.
- John Keells Holdings (JKH) PLC
- Sampath Bank PLC
- Sunshine Holdings PLC
These awards recognise companies that are a cut above the rest in terms of not just their financial performance but also the value they create for their shareholders, customers, employees and the wider community in general. These companies inspire other organisations and entrepreneurs. They have proven their mettle with consistency, authority and sustainable growth, creating excellent business performance.
What set these awards apart from the plethora of award competitions and schemes, was the stringent evaluation based on globally accepted criteria by a distinguished panel of judges. These awards were open for companies that have been in business for over five years as at 30 June 2020, had 30% or more Sri Lankan ownership and was also open to both listed and unlisted companies.
The esteemed panel of judges was chaired by Ravi Abeysuriya, FCMA, CGMA, CFA, MBA, Santosh Menon, Dr. Harsha Cabral, Sunil Dissanayake, Deepal Sooriyaarachchi, Dr. Sulochana Segera, Malith Gunasekara, Varuni Amunugama Fernando and Rajeev Amarasuriya FCMA, CGMA.
The Assurance Partner was KPMG. The Platinum Sponsor for the event was AIA Insurance. The Silver sponsor was Bristol Institute of Business Management.
In early August, a survey link was shared via the Official Telecommunications Partner – Dialog Axiata PLC where the general public was asked to nominate the organisations that they felt were the most admired in Sri Lanka. Based on the survey, the organisations thus nominated were invited to participate in this competition. Post the various adverts on the Daily FT, there were other organisations who applied as well. The initial round consisted of a Financial Evaluation which was done by a team of CIMA members.
Thereafter, the KPMG team ratified the scorings and selected the Top 20 organisations from nearly 50 organisations for the second round, which was a presentation by the companies to the panel of judges. This was the most exciting element of the competition as almost all presentations had the Top Management present at the sessions. After an exciting two weeks of presentations and deliberations, the final winners have thus been unveiled.
Elaborating on the judging process, Abeysuriya mentioned, “The selection of the most admired companies is different to many other company rankings in Sri Lanka. The final top ten companies that are worthy of admiration for the year are judged by a select, panel of professionals with multi-disciplinary backgrounds, who generate insight into how well the company is managing itself. Judges pay attention to a well-articulated and timed presentation by the management and question the management on attributes such as quality of management and leadership, quality of products and services, competitiveness, ability to attract, develop, and keep talent, innovation, and environmental, social and corporate governance principals followed, including the track record of integrity and work against corruption in all its forms.”
KPMG in Sri Lanka Managing Partner and KPMG Middle East and South Asia (MESA) Regional Cluster Chairman Reyaz Mihular said: “KPMG is indeed proud to be a part of the assurance process of evaluating the Most Admired Company Awards for the third consecutive year, as the ‘Assurance Partner’. KPMG supported the panel of judges by ensuring that an impartial and independent process was applied to select the winners. I wish to extend my heartfelt congratulations to all the companies who topped the list and a word of encouragement to the rest, that It is not whether you win or lose but taking part is what matters.”
International Chamber of Commerce, Sri Lanka Chair Dinesh Weerakkody, FCMA, CGMA stated “We are delighted to congratulate the winners, and wish to thank the Judges for their contribution and also CIMA and Daily FT for joining hands to enable yet another successful awards program.”
“The best of the best have now been revealed. These organisations did much more than business – they invested on their people, their communities and found sustainable ways to drive impact and value to Sri Lanka. On behalf of the world’s leading and largest body of professional accountants, The Association of International Certified Professional Accountants, (the unified voice of CIMA and AICPA), I am delighted to congratulate them on this achievement and I hope they’ll continue to be the shining stars in Sri Lanka’s corporate world. I am grateful to our panel of judges, Assurance partner KPMG, sponsors and our co-partners in this competition, ICCSL and Daily FT for joining us to enable yet another successful awards initiative,” stated CIMA Sri Lanka Country Manager Zahara Ansary, ACMA, CGMA.