The 58th TAGS Awards 2023 celebrated the outstanding achievements of organizations that exemplified transparency, accountability, governance, and sustainability across 29 industry sectors. Among the distinguished winners, Janashakthi Group emerged shining bright with multiple accolades, showcasing its commitment to upholding the highest reporting standards in the financial sector.

First Capital, Janashakthi Life, and Orient Finance secures top positions in their respective sectors.

Cementing the Group’s dominance across diverse financial sectors, Janashakthi Group’s subsidiaries secured top positions during the awards ceremony. First Capital Holdings, the pioneering investment institution, bagged the coveted Gold Award in the Investment Banking Sector. First Capital has embraced both the Integrated Reporting Framework and the Global Reporting Initiative framework, positioning itself at the forefront of global reporting standards. The Integrated Reporting Framework offers stakeholders a thorough and interconnected perspective on the company’s performance, encompassing both financial and non-financial facets. Simultaneously, the Global Reporting Initiative framework ensures standardized and transparent communication of the company’s environmental, social, and governance impacts.

Janashakthi Life and Orient Finance claimed the Silver Awards in the Insurance and NBFI sectors, respectively. The two organizations’ commitment to promoting transparency, corporate accountability, and social responsibility in financial reporting were recognized during the ceremony. Their emphasis on maintaining the highest standards of financial disclosures evident in the respective annual reports, provided a clear, and accurate snapshot of their performance for the stakeholders. The reports reflect the company’s ability to produce cohesive, and customized disclosures, showcasing operational and financial performance with utmost clarity.

TAGS Awards Encourages Global Best Practices

The TAGS Awards has established stringent judging criteria, emphasizing effective communication of organizational aspects. Entries are meticulously assessed for creativity, clarity, and inclusion of critical information. The evaluation focuses on readers’ ability to make informed decisions about the organization. A commendable annual report not only highlights financial aspects but also effectively communicates values, achievements, and societal contributions.

Furthermore, the TAGS Awards serve as a catalyst for global best practices in corporate reporting, recognizing organizations that go beyond statutory disclosures. By encouraging companies to exceed global expectations, the awards not only recognize excellence but also set a standard for the industries, promoting transparency, accountability, governance, and sustainability. The awards ceremony celebrates the efforts of organizations, like Janashakthi Group, prioritizing these principles in their operations.

Janashakthi Group (JXG): A Financial Powerhouse Committed to Good Governance

At the heart of Janashakthi Group’s success lies its commitment to good governance. The conglomerate distinguishes itself through its transparency, clarity, and accessibility in reporting. From compliance and regulatory disclosures to stakeholder engagement, the leadership of the Board of Directors, and ethical practices, Janashakthi Group acknowledges the significance and responsibility of aligning its reporting practices with the ever-increasing expectations of its stakeholders. In an environment where stakeholders are becoming increasingly discerning.

Thanushka Jayasundara, Group Chief Financial Officer of Janashakthi Group, enthusiastically shared his thoughts on the significant achievements of the Group at the TAGS Awards, emphasizing the conglomerate’s commitment to responsible reporting. He stated, “At Janashakthi Group, we stand as a dedicated entity to our nation and its people. We understand the impact that accurate and high-standard reporting has on a broader scale, empowering our stakeholders to make well-informed decisions. We are not a Group that remains static; rather, we actively pursue standards that distinguish us, embodying a reputation synonymous with credibility and trust.”

In addition, he expressed his gratitude, saying, “We are honoured to receive these prestigious awards from the Institute of Chartered Accountants of Sri Lanka. I extend my gratitude to our expert finance teams and the management of each business unit for their tireless contributions in making these achievements possible.”

Looking Ahead: Janashakthi Group’s (JXG’s) Vision for the Future

Following its success at the TAGS Awards 2023, Janashakthi Group remains focused on the future. Committed to continuous improvement and adherence to global best practices, the conglomerate aims to set new benchmarks in corporate reporting and in various other avenues.

In outlining the Group’s vision for the future, Ramesh Schaffter, Managing Director / Group CEO, emphasized, “As a Group, we embrace values such as ethics, honesty, collaboration, respect, a commitment to performance, and transparency. Therefore, the essence of responsible reporting is deeply ingrained in our core values. Looking ahead, we envision an ambitious future, with plans to extend our reach beyond traditional financial services and diversify our portfolio. We plan to initiate a capital raising in the near future on our journey to becoming one of the top 10 organizations in Sri Lanka, with a keen focus on enhancing market capitalization within the next decade. Furthermore, our aim is to venture into international markets, expanding the Group’s business footprint beyond Sri Lankan borders. Rest assured, our commitment to reporting excellence will persist, setting the gold standard for transparency and quality in all our endeavours.