T
he CFA Society Sri Lanka Capital Market Awards, which honor excellence in the local capital markets, took place on Tuesday, June 18, 2024, at the Oak Room, Cinnamon Grand, Colombo.
This year’s event, a key fixture on the CFA Society Sri Lanka calendar, was themed “The Power of Public-Private Partnerships,” highlighting the current state and future potential of public-private partnerships (PPPs) in Sri Lanka.
CFA Society Sri Lanka President Aruna Perera, CFA, remarked during the event, “This ceremony celebrates the relentless efforts and outstanding achievements within our capital market community and among Sri Lanka’s listed entities. It stands as a testament to the dedication, hard work, and visionary mindset that drive our industry forward.”
He further emphasized the significance of these awards, stating, “The CFA Society Sri Lanka Capital Market Awards are highly valuable not just for the honored companies and individuals but for the entire industry. They showcase best practices, innovation, and exceptional performance, setting a benchmark for excellence that inspires others to aim higher and continuously strive for improvement. These awards recognize the visionaries and trailblazers who shape the future of our industry and contribute to its sustainability.”
Awards were given in various categories including Best Stockbroking Research Team, Best Equity Research Report, Best Sector Research Report, Best Investor Relations, Best Unit Trust Fund, and Best ESG Reporting, with Gold, Silver, and Bronze awards in each category.
Asia Securities (Pvt) Ltd won Gold for Best Stockbroking Research Team.
Sunshine Holdings PLC received Gold for Best Investor Relations, and the Senfin Money Market Fund was named the Best Unit Trust Fund. Prakatheesh Nareshkumar of Asia Securities (Pvt) Ltd was awarded Gold for the Best Sector Research Report.
The Gold award for Best Equity Research Report went to Kugaprasath Thilagaratnam and Sanjana Kanilka of CT CLSA Securities (Pvt) Ltd.
In the Best Stockbroking Research Team category, Silver went to First Capital Equities (Pvt) Ltd, and Bronze to CT CLSA Securities (Pvt) Ltd. In the Best Equity Research Report category, Hilal Zainudeen and Shehan Abeykoon of Asia Securities (Pvt) Ltd won the Silver. John Keells Holdings PLC won Silver in the Investor Relations category, while Hatton National Bank PLC received the Bronze.
First Capital Money Market Fund secured the Silver award for Best Unit Trust Fund, and Bronze went to CT CLSA Equity Fund. Nathashi Fernando and Shadini Silva of Softlogic Stockbrokers (Pvt) Ltd received Silver for Best Sector Research Report, with Bronze awarded to Sanjana Kanilka of CT CLSA Securities (Pvt) Ltd.
Certificates of commendation were presented to Softlogic Stockbrokers (Pvt) Ltd for Best Stockbroking Research Team and Softlogic Money Market Fund under the Best Unit Trust Fund – New Industry Entrant category. Commendations in the Best Equity Research Report category went to Iranga Fernando of Bartleet Religare Securities (Pvt) Ltd and Deshan Hettiwatte of CT CLSA Securities (Pvt) Ltd.
hSenid Business Solutions PLC won the Best Investor Relations award for listed companies with a market capitalization of less than Rs.10 billion.
Samalka Athuraliya, CFA, Project Chairperson of the CFA Society Sri Lanka Capital Market Awards 2024, congratulated the winners, stating, “Your achievements are a testament to your dedication and excellence. Thank you to all participants for your passion and commitment to driving innovation in the capital markets.”
This year also saw the introduction of the Best ESG Reporting Award, recognizing companies listed on the Colombo Stock Exchange (CSE) for their commitment to environmental, social, and governance (ESG) practices and adherence to global ESG reporting standards.
The inaugural Silver award for Best ESG Reporting was presented to Talawakelle Tea Estates PLC, while Dialog Axiata PLC received the Bronze.
Athuraliya noted, “This year marked a significant milestone with the introduction of the Best ESG Reporting Award. It’s a joy to see the enthusiasm and interest from our corporates in achieving higher standards in ESG practices.”
The judging panel praised the stockbroking research teams for improving capital market accessibility and expanding investor education through webinars, forums, and research communications in multiple languages. However, they highlighted the need for more in-depth fundamental company and industry research. Regarding investor relations (IR), the judges were pleased to see more companies making analyst forum recordings available online, recommending that listed companies strengthen their IR functions and expand access to both institutional and retail investors.
The panel also observed that while companies are at different stages of their ESG journeys, ESG considerations are increasingly integrated into core business strategies. They recommended that companies set clear, measurable ESG goals, such as reducing carbon emissions and improving diversity and inclusion.
The event also featured a panel discussion on the role of public-private partnerships in aiding Sri Lanka’s economic recovery, emphasizing the importance of CFA Charterholders’ skills in executing PPPs. The panel included Chanaka de Silva (President’s Counsel, Partner – Nithya Partners), Kushal Kumar Singh (Partner – Deloitte India), and Thilan Wijesinghe (Chairman/CEO of TWCorp [TWC]), with Dhinali Peiris, CFA (Transaction Advisor – USAID Sri Lanka Energy Program) as moderator.
The CFA Society Sri Lanka Capital Market Awards 2024 was sponsored by the Colombo Stock Exchange (Platinum Sponsor), Deloitte (Gold Sponsor & Technical Partner), and several Silver Sponsors including Acuity Partners, Capital Alliance Group, CT CLSA Securities, First Capital, Lanka Pay, NDB Capital Holdings, Senfin Asset Management, and Uzabase Sri Lanka.
The awards were also supported by partners such as Acuity Knowledge Partners (Knowledge Partner), Sarva Colombo (Creative Partner), Hatton National Bank PLC (Banking Partner), and various media and resource partners.
