CFA Society Sri Lanka celebrates capital market excellence

CFA Society Sri Lanka Capital Market Awards 2024 winners with Chief Guest Securities and Exchange Commission of Sri Lanka Chairman Faizal Salieh, Guest of Honour Colombo Stock Exchange Chairman Dilshan Wirasekara, CFA Society Sri Lanka President Aruna Perera and officials at the event 

In the ‘Best Stockbroking Research Team’ category,. was awarded Silver, while CT CLSA Securities Ltd. received the Bronze award. In the ‘Best Equity Research Report’ category, In the ‘Investor Relations’ category, Silver was won by John Keells Holdings PLC, with Hatton National Bank PLC being awarded Bronze. First Capital Money Market Fund won the Silver award in the ‘Best Unit Trust Fund’ category, while the Bronze was awarded to CT CLSA Equity Fund. Nathashi Fernando and Shadini Silva of Softlogic Stockbrokers Ltd. were presented with the Silver award in the ‘Best Sector Research Report’ category, while the Bronze was awarded to Sanjana Kanilka of CT CLSA Securities Ltd.

The annual CFA Society Sri Lanka Capital Market Awards, recognising and rewarding excellence in the local capital markets, was held on Tuesday at the Oak Room, Cinnamon Grand Colombo.

This year’s CFA Society Sri Lanka Capital Market Awards – a flagship event in the CFA Society Sri Lanka calendar – was held under the theme of ‘The Power of Public-Private Partnerships’, focusing on the current status of public-private partnerships (PPPs) in Sri Lanka and their future potential.

Speaking on the occasion, CFA Society Sri Lanka President Aruna Perera said: “This event recognises the tireless efforts and remarkable achievements within our capital market community, as well as among the listed entities in Sri Lanka. It is a testament to the dedication, hard work, and visionary mindset that propel our industry forward.”

“The CFA Society Sri Lanka Capital Market Awards holds immense value for the deserving companies and individuals being recognised as well as the industry as a whole. They highlight best practices, innovation, and outstanding performance, setting a benchmark for excellence that inspires others to aim higher and constantly strive for improvement. These awards recognise the visionaries and trailblazers who shape the future of our industry and contribute to its sustainability,” he added.

Awards were presented under the categories of ‘Best Stockbroking Research Team’, ‘Best Equity Research Report’, ‘Best Sector Research Report’, ‘Best Investor Relations’, ‘Best Unit Trust Fund’, and ‘Best ESG Reporting’ with awards for Gold, Silver, and Bronze in each category respectively.

Asia Securities Ltd. was awarded Gold for the ‘Best Stockbroking Research Team’. Sunshine Holdings PLC was conferred Gold for ‘Best Investor Relations’, and Senfin Money Market Fund came out on top as the ‘Best Unit Trust Fund’. The Gold for the ‘Best Sector Research Report’ was awarded to Prakatheesh Nareshkumar of Asia Securities Ltd. The Gold award for the ‘Best Equity Research Report’ was awarded to Kugaprasath Thilagaratnam and Sanjana Kanilka of CT CLSA Securities Ltd.

In the ‘Best Stockbroking Research Team’ category, First Capital Equities Ltd. was awarded Silver, while CT CLSA Securities Ltd. received the Bronze award. In the ‘Best Equity Research Report’ category, Hilal Zainudeen and Shehan Abeykoon of Asia Securities Ltd. won Silver. In the ‘Investor Relations’ category, Silver was won by John Keells Holdings PLC, with Hatton National Bank PLC being awarded Bronze. First Capital Money Market Fund won the Silver award in the ‘Best Unit Trust Fund’ category, while the Bronze was awarded to CT CLSA Equity Fund. Nathashi Fernando and Shadini Silva of Softlogic Stockbrokers Ltd. were presented with the Silver award in the ‘Best Sector Research Report’ category, while the Bronze was awarded to Sanjana Kanilka of CT CLSA Securities Ltd.

Certificates of commendation were awarded to Softlogic Stockbrokers Ltd. under the ‘Best Stockbroking Research Team Award’ while Softlogic Money Market Fund was awarded under the ‘Best Unit Trust Fund – New Industry Entrant’ category. Under the ‘Best Equity Research Report Award’, Iranga Fernando of Bartleet Religare Securities Ltd., and Deshan Hettiwatte of CT CLSA Securities Ltd., were also awarded a commendation.

hSenid Business Solutions PLC won the ‘Best Investor Relations Award’ pertaining to listed companies in the less than Rs. 10 billion market capitalisation category.

CFA Society Sri Lanka Capital Market Awards 2024 Project Chairperson Samalka Athuraliya said: “The winner’s achievements stand as a testament to their dedication and excellence.” She thanked all participants for their passion and commitment to driving innovation in the capital markets.

This year, the event also saw the introduction of the ‘Best ESG Reporting Award’ to recognise companies listed on the Colombo Stock Exchange (CSE) that have demonstrated a commitment to creating a positive impact in the environment, social and governance (ESG) areas, and have adopted best practices in relation to global ESG reporting standards and disclosures. The inaugural Silver award was conferred on Talawakelle Tea Estates PLC, while Dialog Axiata PLC was awarded Bronze.

Commenting on the ‘Best ESG Reporting Award’, Athuraliya said: “This year also marked a significant milestone for us as we introduced a new award category – the ‘Best ESG Reporting Award’. For the first time, we had the opportunity to recognise and celebrate the efforts of companies listed on the CSE that are championing ESG practices. It brings us immense joy to see the enthusiasm and interest shared by our corporates in reaching for higher standards in ESG practices.”

The panel of judges commended the participating stockbroking research teams for improving capital market accessibility by continuing to engage in and expand investor education, particularly via webinars, forums, and research communications in multiple languages. However, they called for a need to refocus on in-depth fundamental company and industry research.

With respect to investor relations (IR), the judges were heartened that more companies are making their analyst forums/briefings recordings available online, enabling viewership by a larger audience. To make the IR function more dynamic, they primarily recommended that more listed companies strengthen their investor relations function and further expand access to investors, both institutional and retail.

Commenting on the ‘Best ESG Reporting Award’, the panel of judges noted that while companies are at different stages of their respective ESG journeys in the local market, ESG considerations are being increasingly integrated into the core business strategy. Areas for improvement include the need for companies to set clear, measurable ESG goals and targets, such as reducing carbon emissions, improving diversity and inclusion, and enhancing governance practices.

This year’s event also included a panel discussion in the form of a knowledge-sharing session on how public-private partnerships can help Sri Lanka as the country emerges from an economic crisis, while raising awareness on how CFA Charterholders’ skills are crucial to executing PPPs successfully. 

Leading industry figures – namely, Nithya Partners Partner and President’s Counsel Chanaka de Silva, Deloitte India Partner Kushal Kumar Singh, and TWCorp Chairman/CEO Thilan Wijesinghe – comprised the panel, with CFA USAID Sri Lanka Energy Program Transaction Adviser Dhinali Peiris acting as the discussion moderator.

The CFA Society Sri Lanka Capital Market Awards 2024 was sponsored by the Colombo Stock Exchange (Platinum Sponsor), Deloitte (Gold Sponsor and Technical Partner), Acuity Partners (Silver Sponsor), Capital Alliance Group (Silver Sponsor), CT CLSA Securities Ltd. (Silver Sponsor), First Capital Holdings PLC (Silver Sponsor), LankaPay (Silver Sponsor), NDB Capital Holdings (Silver Sponsor), Senfin Asset Management (Silver Sponsor), and Uzabase Sri Lanka (Silver Sponsor).

The Awards were also supported by Acuity Knowledge Partners (Knowledge Partner), Sarva Colombo (Creative Partner), Hatton National Bank PLC (Banking Partner), Daily FT, Daily Mirror and The Sunday Times (Print Media Partner), Rupavahini/Channel Eye (Electronic Media Partner), LMD (Magazine Partner), TextWare (Text Messaging Partner), Alpha Business School (Candidate Resource Partner), and EduLoan (Supporting Partner).