Conglomerates, SMEs shine at CA Sri Lanka’s TAGS Awards 2024

Hayleys PLC receives the Gold award for Overall Excellence in Corporate Reporting

Diesel & Motor Engineering PLC being awarded the Silver award for Overall Excellence in Corporate Reporting

The much-anticipated grand finale of the 59th TAGS Awards 2024, organised by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), celebrated excellence in corporate reporting, with a diverse range of organisations—from multinationals and conglomerates to SMEs and NGOs—showcasing their commitment to high standards in financial and non-financial reporting by embracing the principles of transparency, accountability, governance and sustainability while also leading the way in raising the standards of corporate reporting.

Held amidst much celebration at Shangri-La, Colombo, on December 12, 2024, in the presence of the country’s corporate elite, the event highlighted the transformative role of enriching corporate reporting practices, complemented by a digital edge.  

Shining at the pinnacle was conglomerate Hayleys PLC, which clinched the coveted Gold award for Overall Excellence in Corporate Reporting, while Diesel & Motor Engineering PLC secured the Silver and both Commercial Bank of Ceylon PLC and Softlogic Life Insurance PLC shared the spotlight by jointly taking home the Bronze.

The grand finale was graced by Sri Lanka Japan International Cooperation Agency Chief Representative Tetsuya Yamada as the chief guest and Securities and Exchange Commission of Sri Lanka Chairman Senior Prof. D.B.P.H. Dissabandara as the guest of honour. Also in attendance were CA Sri Lanka President Heshana Kuruppu, Vice President Tishan Subasinghe, Colombo Stock Exchange (CSE) Chairman Dilshan Wirasekara, TAGS Awards Chairperson Chamila Cooray, CA Sri Lanka CEO Lakmali Priyangika and CSE CEO Rajeeva Bandaranaike. 

During the grand finale, a total of ten organisations were recognised as the Top 10 for their outstanding corporate reporting. The companies were Commercial Bank of Ceylon PLC, Ceylinco Life Insurance Limited, Diesel & Motor Engineering PLC, Hayleys PLC, Hatton National Bank PLC, John Keells Holdings PLC, LB Finance PLC, Peoples’ Leasing & Finance PLC, Sampath Bank PLC and Softlogic Life Insurance PLC. 

In the special awards segment, outstanding achievements in corporate reporting were also celebrated across multiple categories. Under the Corporate Governance Disclosure - Financial Services Category, Commercial Bank of Ceylon PLC secured the Gold, Hatton National Bank PLC won the Silver, while Softlogic Life Insurance PLC and Ceylinco Life Insurance Limited shared the Bronze. In the Corporate Governance Disclosure - Non-Financial Services Category, Hayleys PLC won Gold, Diesel & Motor Engineering PLC bagged the Silver and John Keells Holdings PLC earned the Bronze.

Hayleys PLC also excelled in the Integrated Reporting Category, winning Gold, with Diesel & Motor Engineering PLC and Softlogic Life Insurance PLC taking Silver and Bronze, respectively. Similarly, Hayleys PLC also clinched Gold in the Sustainability Reporting Category, followed by Diesel & Motor Engineering PLC winning the Silver and John Keells Holdings PLC taking the Bronze. The Digitally Transformative Reporting category saw Softlogic Life Insurance PLC win the Gold, while Commercial Bank of Ceylon PLC and Diesel & Motor Engineering PLC were joint Silver winners and Hayleys PLC walked away with the Bronze.