JFS Receives TAGS Award for Second Consecutive Year
JFS Holdings Limited, a prominent diversified business entity in Sri Lanka, has been honored with the Certificate of Compliance for its remarkable Annual Report, titled ‘The STARGATE’ 2022/2023, at the prestigious TAGS Awards 2023. This marks the second consecutive time that JFS has received this recognition. The award ceremony took place on Tuesday, December 12th, 2023, at the Shangri-la Hotel, Colombo, where Omesha Madurangi, JFS’s Associate Vice President – Planning and Reporting, represented the company.
Notably, JFS’s Annual Report was honored twice this year, not only with the compliance award at TAGS but also winning a Merit Award at CMA. Despite being a non-regulated entity at CSE, JFS has consistently released integrated annual reports since the 2018/19 fiscal year. “The STARGATE” marks their 4th annual report as a non-listed entity this year.
Originally established in 2012 as an HR service provider, JFS recently underwent restructuring and now operates as four distinct subsidiaries – ICT, BPO, Agro-Food, and Action Sports, featuring a total of eight unique brands. Going forward, JFS will exclusively function as the holding entity, managing Investments, and providing Shared Service support to its subsidiaries in the future.
The TAGS Awards competition, an annual event, aims to emphasize the importance of integrated reporting, showcasing how organizations create, preserve, or erode value over time. JFS’s report adhered to the guidelines set by the Colombo Stock Exchange (CSE) for corporate governance and integrated reporting, aligning with the six capitals. The company has also separated the CEO/Chairperson, complying with CSE guidelines, and operates under three independent directors, with all committees headed by independent directors.
Madhushan Raigamage, Chairperson of JFS, expressed his thoughts, stating, “This significant milestone was achieved during a challenging time for the company. This award is a testament to our dedication to transparency, accountability, governance, and sustainability as an organization.” He emphasized the importance of an Annual Report as a primary communication channel, reflecting their commitment to building an industry giant, guided by the company’s driving force, ‘Thinking big.’
Looking ahead, JFS is confident and determined, setting ambitious goals of achieving Rs. 1 billion in equity by March 31, 2028. The company also expects over 100 million capital infusion in early 2024. In celebrating this recognition, JFS Holdings Limited invites stakeholders and the community to join them in their journey towards a future defined by innovation, integrity, and prosperity.