Leading producer of the highest quality Ceylon Tea, Talawakelle Tea Estates PLC (TTE) was pronounced Gold award winners in the Plantation category at the 53rd CA Sri Lanka Annual Report Awards 2017.
Organized with a view to showcasing companies that attain the highest standards of financial reporting as part of CA Sri Lanka’s continuing endeavor to recognize and encourage excellence in the field, with an emphasis on cohesive, clear, customized financial reporting that goes beyond regulatory requirements.
A member of the diversified blue chip conglomerate, Hayleys PLC, TTE’s winning performance at the 2017 edition of the CA Sri Lanka Annual Report Awards represents the fourth consecutive year that that the company has managed to maintain its gold standard in financial reporting to emerge victorious in the plantation category.
Commenting on the achievement, the Managing Director of TTE, Mr Roshan Rajadurai, said: “Winning this award for four consecutive years is an affirmation of TTE’s consistency in the application of best practices with regards to transparency and accountability.
“We believe this approach contributes to the long-term success and sustainability of the company. Hence, our corporate governance framework ensures transparency and accountability to regulators, as well as to all other stakeholders, including the public.”
Hosted by the Institute of Chartered Accountants of Sri Lanka the awards ceremony took place at the BMICH under the patronage Chief Guest, Prime Minister Ranil Wickremesinghe and Guest of Honor, Speaker of Parliament, Karu Jayasuriya.
“We are delighted to have won the Gold Award at the CA Sri Lanka Annual Report Awards. Our dominant performance in this category stands as further validation of Talawakelle’s firm commitment to maintaining the highest standards of financial reporting.”
“I wish to thank our team of employees for their outstanding work in enhancing the standard of our financial reporting over the past year. These efforts serve to deepen our engagement with all stakeholders, and we are resolved to continue refining the standard our financial reporting moving forward.” TTE Manager –HR & Corporate Sustainability, Anuruddha Gamage stated.
Additionally, TTE was also adjudged the Second Runner-Up in the Best Presented Annual Report Awards category in the Agricultural sector. TTE’s outstanding performance at the CA Sri Lanka Annual Report Awards served as the most recent extension of a remarkable winning streak, having also received the SAARC Anniversary Awards for Corporate Governance Disclosures 2015, at the South Asian Federation of Accountants (SAFA) in Dhaka, Bangladesh.
TTE’s annual report continued to attract accolades throughout the year by winning the silver award in the Agriculture & Plantations Sector at the recently concluded National Business Excellence Awards, clearly demonstrating the company’s firm and resolute commitment towards implementing best sustainable management practices and achieving performance excellence.
Meanwhile, TTE’s estates, Holyrood and Deniyaya won silver and bronze awards, while Mattakelle and Bearwell estates won merit awards under the Food and Beverages category at the National Green Awards held on 16thOctober 2017.
Incorporated in 1992, TTE is a leading Regional Plantation Company (RPC) managing 16 tea estates in both high and low grown elevations and producing the finest Dimbulla and Ruhuna specialty teas. With a human resource base of 7,469 and a land extent of 6,491.55 hectares, the company produces over 5.6 million kgs of black orthodox tea as well as green tea, annually.
Hayleys Plantations Sector is comprised of Kelani Valley Plantations (KVPL) and Talawakelle Tea Estates (TTEL). Both companies have consistently been ranked number one among Sri Lanka’s regional plantation companies in rubber and tea respectively. The sector manages 44 Tea and Rubber estates, with KVPL holding the record for the country’s highest ever yield of 1008 kg per hectare. In total, Hayleys Plantations manages over 19,500 hectares of land and accounts for 4.5% and 2.5% of Sri Lanka’s tea and rubber production respectively.