Sri Lanka’s MAS Intimates wins corporate sustainability award
COLOMBO, Nov 26, 2014 (EconomyNext) – MAS Intimates (Pvt) Ltd., one of Sri Lanka’s top apparel exporters, won the Best Corporate Citizen Sustainability Award 2014 given by the Ceylon Chamber of Commerce.
The first runner up was Commercial Bank of Ceylon and second runner up Aitken Spence.
"In today’s corporate environment, making profits & meeting shareholder expectations are no longer the only objectives," declared Suresh Shah, chairman of the Ceylon Chamber.
"Today, the process of wealth creation is measured, not just in terms of return on investment, but also in terms of a corporate’s impact on society and the environment."
In the Category B, covering firms with less than 15 billion rupees annual turnover, the winner was Laugfs Gas, a liquid petroleum gas supplier than has diversified into hotels and retail.
The first runner up in this category was Standard Chartered Bank and second runner up Watawala Plantations, in which TATA Global Beverages and Pyramid Wilmar Plantations have control.
A Ceylon Chamber of Commerce statement named the Top Ten Corporate Citizens as Aitken Spence, Ceylon Biscuits, Ceylon Tobacco Company, Commercial Bank of Ceylon, Hatton National Bank, MAS Intimates, Peoples’ Leasing & Finance, Sampath Bank, Singer (Sri Lanka) and Sri Lanka Telecom.
"These are the companies that have achieved extraordinary results for their shareholders whilst protecting the environment and giving back to society in a truly meaningful manner," Shah told the awards ceremony Tuesday.
The corporate sector must win the confidence, trust and respect of the community, he added. "Failure to do so will relegate the private sector to a secondary role, a taker of policy rather than an influencer."