Business
CA Sri Lanka continues to champion integrated reporting
A team from John Keells Holdings PLC discusses the benefits of integrated reporting with IRCSL chairman Asite Talwatte.
President of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), Manil Jayesinghe recently continued to push companies in Sri Lanka to adopt integrated reporting and integrated thinking if companies were truly keen in remaining sustainable and successful in the long term.
Addressing a forum on integrated reporting organised by CA Sri Lanka recently, Jayesinghe urged companies and professionals to adopt the integrated reporting framework for their maximum benefit as it is an important stepping stone that will not only help organisations to bring about integrated reporting but also the key element behind it, which is integrated thinking.
“The world has shown us that profits alone is not the real driver, and we have so many things happening around in the world right now and today health and safety is the key priority for companies, and tomorrow it can be something else,” he said.
Jayesinghe elaborated that profit is no longer the key benchmark of success as there were many other factors to consider in benchmarking success including environment, human capital, and society, among other factors. “It is important to make sure that your business is a sustainable business and for this integrated thinking needs to come through and by adopting integrated reporting, corporates will achieve this,” he added.
Jayesinghe shared these thoughts during a discussion featuring John Keells Holdings PLC on their ‘winning story’ in adopting integrated reporting within the organisation.
He also highlighted that since the inception, CA Sri Lanka has recognised the importance of integrated reporting and has taken the leadership in popularising the concept of integrated reporting among corporates in Sri Lanka. “With new events taking place around the world as well as in Sri Lanka, I hope integrated reporting will have better visibility and companies will start adopting integrated reporting as one of their forms of reporting,” he said.
He added that CA Sri Lanka has taken steps to provide all necessary technical, financial and institutional support to the Integrated Reporting Council of Sri Lanka (IRCSL) headed by Mr. Asite Talwatte to carry out the task of promoting integrated reporting and integrated thinking among corporates in Sri Lanka.
Delivering his company’s success story in adopting integrated reporting, Mr. Mohan Thanthirige, Group Finance Controller of John Keells Holdings PLC highlighted that integrated reporting is articulating the different business processes where everyone can accept it.
“We felt that with our stakeholders getting more sophisticated, we too needed to step up in our reporting,” he said. During the forum, it was highlighted that at numerous stakeholder engagement related studies conducted by John Keells Holdings, more and more stakeholders were asking questions in relation to non-finance that the conventional financial reporting seen in annual reports.
Mr. Thanthirige explained that it was important to look at what is best for one’s organisation in terms of culture and infrastructure. “We did so many test runs and it was a long journey with failures and wins, to get here in terms of ensuring our integrated reporting was a success story,” he added.
The forum concluded following a panel discussion which was moderated by Mr. Asite Talwatte, Chairman of the IRCSL. The panel session featured Mohan Thanthirige, Kalpa Munasinghe, Manager Group Finance, Eneeshya Perera, Manager Corporate Finance, Devmi Jayaweera, Assistant Manager – Sustainability, ERM and Group Sourcing, Daniella De Mel, Assistant Manager – Corporate Finance and Mayurika Silva, Assistant Manager – Group Finance.
Business
Seven Acts under the subject of institutions implemented under the Ministry of Industry and Entrepreneurship Development to be amended
The Cabinet of Ministers has approved the joint proposal presented by the Minister of Industry and Entrepreneurship Development to include the aforesaid amendments of the Acts to the Legal Compilation Program of the government in the year 2025 for the amendment of the following Acts.
• National Gem and Jewellery Authority Act, No. 50 of 1993.
• Technical Development Act No. 36 of 1969
• Sri Lanka institute of textile and apparel Act, no. 12 of 2009
• Sri Lanka Export. Development Act, No. 40 of 1979
• National Enterprise Development Authority Act No. 17 of 2006 and National Enterprise Development Authority Act No.18 of 2014 (Amendment)
• National Crafts Council and Allied Institutions Act No. 35 of 1982
• National Crafts Council and Allied Institutions Act No.4 of 1996 (Special Provisions)
[It has been planned to amend the above acts that come under the subject of institutions implemented under the Ministry of Industry and Entrepreneurship Development this year to create a strong and suitable institutional framework to expedite economic conversion in Sri Lanka]
The Global Franchise Forum 2025, held at the Sheraton Hotel in Colombo recently was seen by dignitaries present as delivering significant benefits to Sri Lanka’s economy, entrepreneurs and the country’s global standing. Gaurav Marya, chairman, Franchise India Group, complimenting the event said, among other things, that the event was a ‘meeting of minds, markets and opportunities’.
The event attracted global brands, investors and business leaders, connecting them with Sri Lanka’s entrepreneurial community and was seen as laying the groundwork for long-term economic growth and collaboration.
Gaurav Marya, further said:
“We are thrilled to see such an enthusiastic and relevant audience in Sri Lanka. The energy in the room reflected the hunger for growth and the readiness of Sri Lanka’s entrepreneurs to embrace global brands and scale with purpose.”
Knowledgeable observers added: ‘Franchising offers a tested pathway for small and medium enterprises (SMEs) to grow sustainably. Through partnerships with established global brands, Sri Lankan entrepreneurs now have better access to proven business models, reducing startup risks and improving scalability. This promises to generate significant employment opportunities in sectors like hospitality, healthcare, retail, and education, thereby strengthening the social and economic fabric of the country.
“The forum also helped reinforce Sri Lanka’s strategic position as a gateway to South Asia. Highlighting the country’s growing consumer base, skilled workforce and improving business environment, the event attracted international attention, signaling Sri Lanka’s readiness to play a larger role in regional trade and investment flows.
“Support from respected organizations—including the Indo-Lanka Chamber of Commerce, ICC Sri Lanka, and FCCISL—helped foster new partnerships and cross-border collaboration opportunities. By encouraging foreign investment and knowledge-sharing, the forum is set to help Sri Lankan businesses become more competitive regionally and globally.
“Panels, workshops, and one-on-one business meetings equipped attendees with vital knowledge about franchising strategies and global business practices. The presence of industry experts offered Sri Lankan entrepreneurs valuable tools for success, promoting a culture of innovation and strategic growth.”
Reflecting on the broader significance of the event, Gaurav Marya added,
“Sri Lanka is clearly moving toward economic recovery. Despite global headwinds, including recent trade policy shifts, the Global Franchise Forum 2025 Sri Lanka Edition has helped catalyze timely conversations and build sustainable partnerships that support long-term economic development and resilience.”
By Ifham Nizam
National Savings Bank (NSB) announces the appointment of Ajith Akmeemana as the Chief Financial Officer (CFO), effective immediately.
Ajith Akmeemana has nearly 35 years of experience in the financial services industry driving financial strategies and ensuring sustainable organizational growth and profitability.
He brings extensive experience in corporate planning, asset-liability management, treasury management and corporate finance activities, complemented by C-suit leadership roles at Nations Trust Bank and Bank of Maldives. His career commenced at Standard Chartered Bank, Sri Lanka, and includes a strong foundation in audit and advisory services at Ernest & Young.
Akmeemana is a Fellow Member of the Institute of Chartered Accountants of Sri Lanka and holds an MBA from the University of Manchester, UK. He is also a Graduate Member of the Sri Lanka Institute of Directors and an Associate Member of the Institute of Bankers of Sri Lanka.
Commenting on his appointment, Akmeemana said, “It is an honor to join National Savings Bank, an institution with a strong legacy and an essential role in Sri Lanka’s financial sector. I look forward to supporting NSB’s mission and contributing to its continued growth and success.”
The Chairman, Board of Directors, GM/CEO, and the entire NSB team warmly welcome Akmeemana and are confident in his ability to lead the Bank’s financial operations in alignment with its strategic direction.
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