Mercantile Investments and Finance secures two annual report awards

Monday, 29 December 2014 00:00 - - {{hitsCtrl.values.hits}}

Mercantile Investments and Finance PLC (MI) displayed its dominance in financial reporting yet again, this time winning two awards which included an all island award at the CA Sri Lanka Annual report awards competition held recently at Nelum Pokuna Theater.

Managing Director Gerard Ondaatjie receiving the bronze award in integrated reporting from the Governor Ajith Nivard Cabraal While securing a silver place in the Finance Companies sector, MI’s annual report for FY 2013/14 managed to bag the bronze award for the best integrated report, being an all island category award. MI’s annual report for the financial year 2013/14 titled ‘Yesterday and Tomorrow….. are but steps on the same ladder of value creation’ highlights the company business journey for the last 50 years and how it plans to face the future in creating greater value to its key stakeholders.

The company stands committed in displaying excellence in financial reporting each year. In fact, MI has won the gold award 13 times previously, under the Finance Companies sector and has even secured international awards for its annual reports. This times annual report was integrated based on the International Integrated Reporting Council recommended integrated framework, thus adding further ambiance to the report that had comprehensive disclosure on MI’s corporate governance structure and coverage on risk management practices apart from the annual audited financial statements and relevant commentary. Further, MI’s commitment towards sustainability was effectively communicated through a well detailed sustainability report which covered the enterprise’s CSR and other initiatives exercised during the year. Mercantile Investments and Finance PLC is a Licensed Finance Company under the Finance Business Act No. 42 of 2011, listed on the Diri Savi Board of the Colombo Stock Exchange. MI boasts an expansive network of branches that span across the island to serve customers who come from every walk-of-life. The company has been in operation since 1964 and celebrated its golden jubilee in June 2014.