CSE sponsors ‘Best Practices in Family Businesses’ by CIMA, Sri Lanka

Tuesday, 28 October 2014 01:37 - - {{hitsCtrl.values.hits}}

Espousing the importance of adopting best practices in the management of family businesses, the Colombo Stock Exchange (CSE) will be the Principal Sponsor of ‘Unlearn: Learn – Adapting Best Practices in Family Businesses,’ organised by CIMA, Sri Lanka. The event will be held on 29 October at The Kingsbury Hotel from 9 a.m. to 1 p.m. and will discuss ‘How Sri Lanka’s family businesses can sustain, transform and run better in ever-changing economies’.

The benefits of listing on the CSE and the manner in which such a listing can transform a family owned business into a beacon of good corporate governance, transparency and stakeholder engagement, will also be a prominent topic of discussion at the event. The value proposition of listing will be presented as a means of raising the necessary capital for a family owned business to propel itself into the next stage of growth and expansion. “The CSE is proud to be part of this significant discussion, at a time when Sri Lankan businesses are growing and expanding swiftly with the upward trajectory of the economy. Therefore family businesses, which have traditionally played a significant role in the economic development of the country, are looking to transform themselves to ensure they are competitive both in terms of the bottom line and also in attracting fresh talent,” CSE’s Chief Operating Officer and a panelist at the event Renuke Wijayawardhane said. “CIMA Sri Lanka has always felt a strong commitment towards furthering the ideals of good corporate governance, within the Sri Lankan corporate atmosphere. In light of the substantial contribution by family businesses to our economy, it is a timely dialogue to consider the best practices which they should adopt, when moving to their next phase of growth,” CIMA Regional Director for Middle East, South Asia and North Africa, Bradley Emerson said. Giving their perspectives at the event will be Keynote speaker R. Gopalakrishnan, Director of Tata Group Parent, Tata Sons, and several Tata companies, along with Husein Esufally, Chairman of Hemas Holdings PLC, Malik J. Fernando, Director of MJF Holdings and Dilmah Tea and Prakash Schaffter, Director of Janashakthi Insurance PLC.