Business and Economics
ComBank conducts 51st AGM on virtual platform

The 51st Annual General Meeting (AGM) of the Commercial Bank of Ceylon PLC, Sri Lanka’s benchmark private bank, was conducted on a virtual platform for the first time on Thursday, 25th June 2020. This was organised to maintain social distancing as necessitated by the COVID-19 pandemic.

The proceedings were streamed live via Zoom from the auditorium of the Bank’s Union Place branch, and shareholders were provided the facility to vote via an online voting platform called eBallot, the Bank said.

Sri Lanka’s largest and most-awarded private bank, the Commercial Bank celebrated its 100th anniversary this year. Pictured here is the Bank’s Board of Directors at the virtual AGM.

JAT Holdings gears trailblazing efforts to improve environmental sustainability

With efforts to improve environmental sustainability at a corporate level, JAT Holdings, Sri Lanka’s trusted household name for wood coating products, currently stands as the first paint company in Sri Lanka to calculate its direct and indirect carbon footprint of all 3 scopes. Identifying 2018/19 as the base year for carbon footprint calculation, JAT Holdings is officially authorized to use the Responsible Care international logo on its products by complying with international standards in relation to the organization’s commitment to environment and social sustainability.

Demonstrating environmental stewardship by Carbon Foot Print disclosure, JAT Holdings succeeded with the introduction of more reliable products along with greater, long term profitability.

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Chamber of Commerce hails govt’s stimulus initiatives

The newly elected President of Chamber of Commerce, Dr. Hans Wijayasuriya congratulated the Government on the stimulus initiatives launched to-date and on the structured approach being adopted with respect to the country’s economic revival framework.

“It is our view that the Private Sector is an equal partner in securing an accelerated economic recovery and is equally called upon to transform, to meet the challenges of the new normal.”

“Sri Lanka’s private sector was quick in embarking on transformation, commencing with employment retention initiatives centred on the adjustment of production and service portfolios to meet adjacent demand, alongside the retraining and redeployment of human capital. Equal focus was directed at re-engineering Supply and Value chains with primacy for domestic supply ecosystems and the sustenance of SMEs.”

The Private Sector has also actively supported the Government with respect to pooling of logistics and fulfilment capacities, and mitigating Sri Lanka’s Foreign Exchange Liquidity challenges via restructuring foreign supplier credit terms.

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