- Entries close in mid-July with awards ceremony slated for September
For the fourth consecutive year, the Chartered Institute of Management Accountants (CIMA), the International Chamber of Commerce Sri Lanka (ICCSL) and Daily FT have launched Sri Lanka’s Most Admired Companies Awards 2021.
The awards are recognised as being the only one of its kind in Sri Lanka, and are for companies that are a cut above the rest in terms of not just their financial performance but also on the value they create in a sustainable and ethical way for their employees, customers, investors and the community.
A public survey is being circulated via the Official Telecommunication Partner Dialog Axiata PLC, requesting for the general public to vote for companies that they admire on a few selected criteria.
These awards are for those who have established themselves as being excellent in business performance and across a number of other discrete performance criteria. The companies bestowed with the top 10 rankings are those that enjoy the strongest reputations and inspire other organisations and entrepreneurs. They have proven their mettle with honesty, integrity, and character that are truly enduring elements of a successful business organisation.
What sets these awards apart from the plethora of award competitions and schemes, is the stringent evaluation based on globally accepted criteria by a distinguished panel of judges. Companies that have been in business for over five years as at 30 June and are 30% or more of Sri Lankan ownership are eligible to enter this awards competition, which is open to both listed and unlisted companies in Sri Lanka.
Those ranked top 10 will, in addition to the title, be privy to publicity and recognition throughout the country and beyond and use this as an opportunity to build further on their organisational image as well as brand.
ICCSL Chairman Dinesh Weerakkody MBA FCMA CGMA stated: “This is the fourth consecutive year that we are launching these awards to recognise top performing Sri Lankan companies that have excelled in their respected industries and contributed to the overall economic growth of Sri Lanka. We are proud to host these awards together with CIMA Sri Lanka and Daily FT with whom we have built a strong professional relationship over the last few years.
“ICC, through a unique mix of advocacy, solutions and standard setting, promotes international trade and responsible business conduct which we advocate to recognise through these awards. ICC is the largest business organisation in the world with over 45 million members in 130 countries from many of the world’s leading companies, SMEs, business associations and local chambers of commerce.”
CIMA Sri Lanka Country Manager Zahara Ansary FCMA, CGMA said: “What we love about these awards is that it focuses on not just the value created through financials but also the intangible aspects. The awards focus on employees, customers, social responsibilities as well as how the organisations deal with exceptional situations in today’s post pandemic world filled with unprecedented change and challenges.
“Our past winners have shown that they are a force to reckon with and have been able to go beyond operations to drive impact, beyond limits to deliver solutions and beyond expectations to create value. As the world’s leading and largest body of professional accountants, The Association of International Certified Professional Accountants, (the unified voice of CIMA and AICPA), we look forward to recognising these organisations.
“CIMA helps people and businesses succeed even in challenging times and thus, we are pleased to continue our partnership with ICC Sri Lanka and Daily FT, in bringing to the business world, initiatives of this nature.”
Daily FT Editor Nisthar Cassim said: “The Daily FT is pleased to join CIMA and ICCSL for the fourth year in recognising and lauding the Most Admired Companies of Sri Lanka. As we have seen, these awards are coveted by the business community in Sri Lanka and we look forward to this year’s edition. We are happy to see more outstanding organisations and leaders being recognised and hope this will inspire the next generation of young leaders.”
Panel of Judges Chairman Ravi Abeysuriya FCMA, MBA, CGMA, CFA said: “The judging panel and I feel that, being recognised as a most admired company by the International Chamber of Commerce (ICC), CIMA and Daily FT is definitely a global recognition at international standards of the very best Corporations in Sri Lanka.
“The evaluation for winning this award bases on several quantitative and qualitative measures; that include financial soundness, wise use of corporate assets, long-term investment value creation, earnings growth and dividend payout, etc.
“To determine the most admired companies, judges consider collective performance of qualitative attributes such as quality of management, ability to attract, develop, and keep talent, innovativeness, effective adoption of Environmental, Social and Governance (ESG) principles, and the track record of integrity and business ethics.”
KPMG Sri Lanka Managing Partner and KPMG Middle East and South Asia Region (MESA) Chairman Reyaz Mihular FCMA, CGMA said: “KPMG congratulates CIMA, ICCSL and Daily FT and other partners for consecutively organising the ‘Most Admired Company Awards’ and motivating companies to strive for excellence during these challenging times.
“KPMG is proud to be the ‘Assurance Partner’ for the Most Admired Company Awards for the 4th consecutive year and we are honoured to be able to play this vital role of providing assurance in the process followed for the extracting, evaluating and verification of data to the panel of judges.
“KPMG will once again ensure an impartial and independent process in selecting the most admired companies based on qualitative and quantitative factors. I wish this year’s ‘Most Admired Company Awards’ all success.”
Entries close in mid-July with the Awards ceremony slated to take place in September. Further details on the awards can be obtained by e-mailing Awards.SriLanka@aicpa-cima.com.