Business News Update: Abans PLC won the Silver Award under the Trading Companies category for the second consecutive year at the 55th Annual Report Awards 2019 conducted by the Institute of Chartered Accountants of Sri Lanka at a ceremony held on December 3, at Shangra-La Colombo.
The Chief Guests at the function was Anura Priyadharshana Yapa and Dr. Indrajit Coomaraswamy, Governor of the Central Bank of Sri Lanka.
The award was another significant achievement by Abans PLC and amply demonstrated their commitment, not only in the field of retail trading but also for proper financial reporting, good governance, social responsibility, ethical business practices. The award was received by Chandrika Perera Group CFO and the finance team.
This year, ICASL received applications from a wide range of organizations, including conglomerates to multinationals, small and medium-sized enterprises and non-profit organizations who vied for the prestigious awards that span a history of over half a century. Under sector awards in the trading category, Abans PLC won the Silver Award for the second consecutive year. Being a 50+ year entrepreneurship founded by Aban Pestonjee.
This shows the board’s willingness to showcase their commitment towards transparent and effective communication to stakeholders through the publication of informative and precise annual reports, thereby promoting the effective presentation of financial and non-financial information and compliance with legislative requirements and generally accepted accounting practices.
Abans PLC is the flagship company of the Abans Group which is a diversified conglomerate of over 30 independent companies involved in various trading and manufacturing activities and providing a host of integrated services. The company broad-based its shareholdings and became a public quoted company in the Colombo Stock Exchange.
Abans PLC, the trading arm of the Abans Group, is the market leader and also sole agents in Sri Lanka for the world’s leading brands of electronic and home appliances which are marketed through a network of showrooms and authorized dealers’ Islandwide. Abans is a household name in Sri Lanka, trusted for quality, durable products at affordable prices.