SEC applauds best corporate citizens

Tuesday, 3 December 2013 01:15 - - {{hitsCtrl.values.hits}}

The Securities and Exchange Commission of Sri Lanka (SEC) has commended the winners of the Best Corporate Citizen Sustainability Award which was successfully organised by the Ceylon Chamber of Commerce for the 10th consecutive year and concluded on 26 November 2013 at the Cinnamon Grand. This prestigious award which recognises the best Corporate Citizens in the country follows stringent evaluation criteria based on the areas of environment, employee relations, customer and supplier relations, community relations and CSR, economic contribution, financial performance, governance and reporting. A highlight of the event is the recognition of the ten best corporate citizens for the year 2013. It is noteworthy that eight of the 10 best corporate citizens recognised at this year’s event are companies listed on the Colombo Stock Exchange (CSE). These entities have not only successfully attracted long-term capital through the capital market but enhanced their visibility, transparency and good governance by adhering to the stringent listing guidelines of the CSE. In tandem with the surge in economic activity that is taking place in the country, the SEC initiated a Capital Market Master Plan covering many important projects ranging from modernising market infrastructure, strengthening risk management, attracting new funds as well as encouraging entities to list on the CSE. The Government provided further impetus for companies to list, by offering tax incentives for new companies that will be listed on the CSE in both the 2013 and 2014 National Budgets. In this context, the SEC encourages more companies to avail themselves of the opportunity to list on the CSE and be part of a responsible group of corporate citizens while enhancing the overall image of the company, competitiveness and growth opportunities.

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