The 2022-23 Annual Report of Teejay Lanka PLC won two awards including the award for ‘Best Annual Report in the Apparel Sector’ at the CMA Excellence in Integrated Reporting Awards 2023, presented by the Institute of Certified Management Accountants of Sri Lanka (CMA).
The Annual Report titled ‘Interknitted’ also won one of 10 Certificates of Merit awarded by the country’s national professional management accounting institute in acknowledgement of the quality of Teejay’s disclosure of vital information to stakeholders and conformity with local and international financial reporting standards for accounting and financial as well as non-financial information.
The 12th Integrated Annual Report published by Teejay Lanka PLC provides an overview of the Company’s environmental stewardship, social responsibility, governance and risk management, future-focused sustainability-driven innovation, and insights on material topics pertaining to its commitment to sustainability initiatives as a responsible corporate citizen. The Report also communicates Teejay’s approach to directing corporate strategies in an integrated manner while cautiously balancing the often-competing interests of diverse stakeholders. The Company states its dedicated investment in GRI reporting and establishment of a strong ESG framework exemplify Teejay’s commitment to sustainable business practices and long-term value creation.
Commenting on the Company’s award-winning achievement in financial reporting, Teejay CEO Mr Pubudu De Silva said: “These awards underscore our commitment to excellence across all facets of our business, encompassing the environment, communities, society, and global responsibility. Our report is a testament to our strategic focus, forward-looking approach, commitment to value creation, and dedication to relevance, reliability, and completeness in reporting. We have embraced complete transparency in conveying our performance and impact during the past fiscal year, encapsulating the essence of our remarkable journey.”
The assessment for the CMA awards for integrated reports is based on the Guiding Principles, Content Elements and Fundamental Concepts which appear in the International Framework issued by the International Integrated Reporting Council (IIRC), with special emphasis on strategic focus and future orientation; connectivity of information; value creation and reliability and completeness.
The Teejay Group owns manufacturing facilities in Sri Lanka and in India, along with a state-of-the-art printing facility in Sri Lanka. An ISO 9001:2015, ISO 14001:2015 and OHSAS 18001:2007 compliant company and the first in the industry to develop green fabric, Teejay Lanka was also the first textile manufacturer in Sri Lanka to receive membership of the US Cotton Trust Protocol. Teejay is a public quoted company with 40 per cent public ownership and the backing of Sri Lanka’s largest apparel exporter Brandix Lanka which has a 32 per cent stake in the Company. Pacific Textiles of Hong Kong, whose key shareholder is the Tokyo Stock Exchange listed Toray Industries Inc., owns 27 per cent of Teejay Lanka.
Teejay Lanka was ranked the No 1 corporate entity among 100 public listed companies in Sri Lanka for Transparency in Corporate Reporting in the TRAC 2022 assessment carried out by Transparency International Sri Lanka (TISL), the local arm of the international corruption watchdog. The TISL assessment was carried out on three areas crucial to fighting and preventing corruption: reporting on anti-corruption programmes, transparency in company holdings and the disclosure of key financial information in domestic operations.