People’s Leasing secures third place in Sri Lanka’s first ever transparency assessment

People’s Leasing a & Finance PLC secured the overall third position and the no. 1 position in the non-banking financial institutions’ (NBFI) sector in the first-ever assessment of transparency in corporate reporting done in Sri Lanka amongst the top 50 listed companies on the Colombo Stock Exchange, as per market capitalization. 
The report named as ‘Transparency in Corporate Reporting (TRAC) assessing the top 50 listed companies in Sri Lanka was done by Transparency International Sri Lanka (TISL). 
TRAC criterion and themes were threefold assessing the Top 50 listed companies in Sri Lanka, ranking companies on three different thematic areas related to corporate reporting: anti-corruption programs, transparency in company holdings and the disclosure of key financial information in domestic operations, People’s Leasing said in a media release. 
An elite team of TISL researchers have gathered information for reporting from the Annual Reports of the respective companies. 
Sabri Ibrahim, CEO/GM, PLC expressing his views on PLC securing the third place in ‘Transparency in Corporate Reporting (TRAC) said, “This will surely be an excellent news for PLC’s stakeholders and customers. By securing the third position among 50 listed companies in corporate reporting highlighted the fact, how transparent PLC is in corporate reporting. TISL being the local agent of ‘Transparency International’ that fight against corruption world over adds credibility to its reporting”. 
Speaking on the launch of the report, Ashoka Obeyesekere, Executive Director, TISL said, “This report provides an opportunity to take stock of current disclosure practices, crediting the efforts that have already been taken and identifying areas for potential improvement for Sri Lankan listed companies. A low score does not mean there has been any wrongdoing. It indicates an opportunity for improvement in disclosure practices of such companies.”