HAYLEYS | LMD

LMD 100 Q&A

Q: Describe Hayleys’ journey since inception…

A: Hayleys is a pacesetter in sustainable innovation; an important stakeholder in Sri Lanka’s export led financial revival; and above all, an moral, objective led organisation. Since 1878, Hayleys has developed into one of many nation’s most various enterprise conglomerates.

Daring considering and strategic execution created pioneering enterprises throughout 16 various enterprise sectors, fostering financial development and contributing to GDP.

Over time, diversification struck a steadiness between strengthening worth added exports, and enhancing lives by way of home and worldwide engagement.

Moral enterprise practices, sturdy governance, a dedication to neighborhood wellbeing and including vitality to grassroots economies by way of inclusive enterprise fashions are at its core.

Recognised because the ‘Finest Company Citizen’ on 5 separate events; ranked primary eight occasions  within the LMD 100; and at the moment, awarded a nationwide long-term ranking of ‘AAA (lka)’ with a secure outlook by Fitch Rankings post-Sri Lanka’s current financial disaster, Hayleys continues to face resilient in its journey.

Regardless of headwinds final yr, the group generated US$ 651 million in overseas forex earnings, accounting for five.5 % of Sri Lanka’s whole export earnings in 2022-23, producing worth added exports for patrons in over 70 world markets.

Q: What’s your evaluation of Sri Lanka’s financial path, given the a number of crises it confronted lately?

A: Previously yr, we skilled a collection of reforms to handle financial challenges confronted by the nation on a number of fronts. Sri Lanka should keep dedicated to implementing very important reforms to retain competitiveness and long-term debt sustainability whereas sustaining coverage consistency.

Constructing an export-friendly ecosystem and attracting overseas direct funding (FDI) are keys to encouraging reinvestment within the nation and foreign exchange influx. Assembly world demand for expert labour holds vital potential to spice up remittances. Entry to schooling stays pivotal to nurturing expertise improvement.

The restructuring of state-owned enterprises (SOEs) is a optimistic step in the direction of sustaining financial restoration and assuaging fiscal burdens. It’s essential to benchmark our processes towards regional friends excelling in ‘ease of doing enterprise’ indices, to study from profitable fashions and improve our total financial efficiency.

Q: What are the group’s medium-term priorities?

A: Within the midterm, our focus is on stability and development. As a bunch, the strategic emphasis stays on attaining an alternate surplus, underscoring our standing as a internet exporter. We’ll proceed to broaden and put money into export sectors whereas rising our market attain within the US and Europe.

Commerce growth within the Indian subcontinent and improvement on the Colombo Port as a transshipment hub for regional commerce presents a major alternative to leverage our transportation and logistics experience.

The potential for a serious rebound in tourism is contingent on a clean transition aligned with the IMF programme. Renewable vitality is one other focus providing funding prospects.

Q: Share some insights into Hayleys’ dedication to good governance and transparency…

A: The group’s sturdy governance foundations served as an anchor in its 145 yr historical past, enabling resilience by way of quickly evolving and dynamic working situations.

The board of administrators represents a various mixture of expertise, information and business expertise, contributing to the depth and high quality of determination making.

Clearly outlined governance buildings guarantee considered empowerment and monitoring throughout our listed and unlisted group corporations alike, guaranteeing each entity goes past mere compliance to the best requirements of company governance.

The group’s dedication to transparency and disclosure is mirrored in its observe file of setting benchmarks for company reporting in Sri Lanka.

Hayleys was awarded the coveted Gold Award for ‘General Excellence in Company Reporting’ on the 2023 CA Sri Lanka TAGS Awards for the second consecutive yr, on high of successful 17 extra awards throughout the group on the similar.

Q: How ought to companies align organisational efficiency with governance, and the way is that this being addressed by your group?

A: Hayleys recognises the essential hyperlink between environmental, social and governance (ESG) concerns, and enterprise technique.

The Hayleys ‘Lifecode’ serves because the group’s complete ESG street map, outlining our aspirations for 2030 and formalising governance buildings, reporting strains and monitoring mechanisms. Aligned with the UN’s Sustainable Improvement Objectives (SDGs), these targets contribute on to nationwide SDG achievements.

We advocate for complete ESG compliance in our provide chains. This strategic method not solely aligns with sound enterprise rules but additionally fosters resilient biz fashions on the grassroots, and opens gateways to new markets and buyer segments.

Phone: 2627000 | Electronic mail: information@cau.hayleys.com | Web site: www.hayleys.com