Nation Lanka Finance Wins At CA Annual Report Awards

Nation Lanka Finance was born as Ceylinco Securities and Finance Ltd in 1987. It was quoted as a PLC in the stock market in 1994. Later on, taking the market performance into consideration, it got re-branded and thus officially come to be known as Nation Lanka Finance in 2009, and again, it received the license from the Central Bank of Sri Lanka in March 2012. There-onwards, Nation Lanka Finance remained as an agent which solicits deposits and facilitates micro finance, pawning and extends mortgage loans and leasing facilities. It currently operates in over 25 locations strategically distributed island wide.

An award at the CA Annual Reporting Awards is one of the greatest recognitions any corporate entity strives to achieve. It acknowledges and glorifies those who excel in financial reporting. A good financial report means that the company is performing as per the expectation, and that shines a halo around those who ultimately claim an award bestowed by the CA.

The financial year 2018/19 was significant for Nation Lanka Finance, for it won an award for it’s financial report under the Finance Companies and Leasing Companies Total Assets Upto LKR 20 million category. Addressing this grand achievement, Chief Finance Officer Prasanna P. Habaragamuwa stated

“We didn't see the need to hire external sources to prepare the documents. The majority of the process was internalized. The printing aspects and concept design were covered by our trusted partner Optima Designs Pvt.Ltd,. Optima Designs has been a great ally for Nation Lanka and Finance for the past 3 years. This achievement could not have happened if not for the support and blessings which we appropriately received from CEO Jayantha Perera, Chairman Victor Ramanan and The Board of Directors. This achievement would not have been possible if not for the freedom that they gave, and the trust they placed on the team’s decision making skills. The highly competent and committed finance team took care of the audit functionalities and financial aspects while GM compliance, Heads of Internal Audit and Human resources were responsible for a worthy contribution and the production process was strategically managed by our Jayendra Dissanayake who is in charge of Branding & Marketing. Overall, this is a collaborated achievement, and everyone played an important role within the endeavor.”

Chief Finance Officer Prasanna P. Habaragamuwa claims that the reason for achieving such excellence is due to the fact that Nation Lanka strictly abided to the newly implemented International Financial Reporting Standards regulations and completion of the Annual Report and was able to hold the AGM within the stipulated time. The contribution of Company Secretaries, the Corporate Arcade team is noteworthy to mention.   

He further added “We stuck to the basics and played to our strengths. If we analyze a few reports of certain institutions, it usually comprise of generic industrial know-how which are mostly borrowed from other source materials. That does not reflect the company’s performance. A corporate should present their performance as it is, and they should find the ideal manner to present it as well. Visual presentation matters, since the readers should be able to understand what is presented and it should also look good while doing so.”

The reporting approach taken by Nation Lanka Finance across the years is unique. It has maintained a story-like theme, which is a follow up of the previous year. The 2016/17 theme was ‘Further’, 2017/18 was ‘Growth Ahead’ and the report which won the award for 2018/19 was ‘On Our Way’. At first glance, it seems as if Nation Lanka Finance is attempting to convey a story; the story of how a company starts with an ambition of achieving greatness, while gradually moving forward and thus finally closing in on the fruits of the valor in the near future. That symbolizes the journey of Nation Lanka Finance, and it is fitting that this is worthy of being awarded such a recognition.

A mere award does not satisfy Nation Lanka Finance’s thirst for achieving excellence. Both Habaragamuwa and the Chief Operating Officer Suresh Amerasekera revealed their determination to make sure that the brand will upgrade its operational activities while giving the maximum value addition to its stakeholders as well as the society it operates in, as it moves forth to achieving the next great award; a recognition in the overall category. Nation Lanka Finance is fully geared and ready to take up the challenge, and it is a matter of time till that dream becomes a reality.

While remaining humble on the achievement, the COO wished to leave fellow industrial peers with a snippet of his professional advice.

“ The journey maybe tough, but the result is sweetest when it is earned. Report the context as it is, and look for ways to decorate what you feel is lacking. In the end, what is presented reflects the company’s performance, and that is where the future thrives or falls.”

Source - Daily FT ( 16.12.2019)