Cinnamon Hotels & Resorts received multiple accolades at the TAGS Awards 2026, Diamond Chapter, marking another strong year for reporting across its listed entities. John Keells Hotels PLC was also named the overall Winner of the Tourism & Leisure Category.

Trans Asia Hotels PLC received the Gold Award in the Hotel Sector – Group Assets up to Rs. 10 billion. In the Hotel Sector – Group Assets above Rs. 10 billion, John Keells Hotels PLC received the Silver Award, while Asian Hotels and Properties PLC received the Bronze Award.

The TAGS Awards recognise organisations that uphold high standards in corporate governance, transparency, and financial reporting.

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Oxford College of Business (OCB), Sri Lanka’s leading private higher education institution, has been named the Winner in the SME Category at the prestigious ACCA Sri Lanka Sustainability Reporting Awards 2025, reinforcing its position as a national benchmark for transparency, accountability, and sustainability leadership in higher education.

Organised by the Association of Chartered Certified Accountants (ACCA) Sri Lanka, these annual awards recognise organisations that demonstrate excellence in sustainability reporting, ESG disclosure, and responsible value creation. The awards are regarded as one of the most credible platforms for evaluating how organisations embed sustainability into governance, strategy, and performance reporting.

OCB’s recognition reflects the strength and maturity of its sustainability reporting framework, which integrates environmental stewardship, social impact, governance excellence, and long term value creation into a coherent narrative. The institution’s reporting practices align with leading international frameworks and best practices, ensuring stakeholders receive transparent, decision useful insights into its sustainability performance and strategic direction.

Commenting on the achievement, Malindu Ranasinghe, Director/CEO of Oxford College of Business, said:
“Being named the winner at the ACCA Sri Lanka Sustainability Reporting Awards is a meaningful affirmation of the standards we hold ourselves to in transparency and accountability. Sustainability reporting is not about recognition; it is about responsibility ensuring our stakeholders can clearly see how we create value responsibly and sustainably. We are grateful for this recognition and, above all, I give glory to God for His grace and guidance as we continue to strengthen our sustainability journey.”

The award highlights Oxford College of Business’s broader commitment to embedding sustainability across its operations, academic delivery, and stakeholder engagement. From responsible campus practices and environmental stewardship to inclusive people policies and ethical governance, OCB continues to evolve as a purpose-driven higher education institution that leads by example.

This recognition further strengthens OCB’s reputation among students, parents, partners, and international collaborators as a trusted, future ready institution that voluntarily upholds the highest standards of sustainability disclosure and governance particularly in a higher education sector that is not formally regulated in Sri Lanka.

With sustainability becoming an increasingly central expectation of institutions worldwide, Oxford College of Business remains committed to continuous improvement in ESG integration and reporting excellence ensuring that education is delivered with purpose, transparency, and long term societal impact.

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Mrs. Aban Pestonjee, Chairperson of the Abans Group and one of Sri Lanka’s most influential business leaders, has been honoured with the Lifetime Achievement Award at the SLID–ACCA National Corporate Director Awards 2025, in recognition of her extraordinary contribution to corporate leadership, governance and entrepreneurship.

The award was presented at a ceremony held on January 28, 2026, at the Cinnamon Grand Colombo, in the presence of senior corporate leaders, policymakers and diplomats. The event was graced by Andrew Patrick, British High Commissioner to Sri Lanka, as Chief Guest, and D. B. P. H. Dissanayake, Chairman of the Securities and Exchange Commission of Sri Lanka, as Guest of Honour.

The recognition places Mrs. Pestonjee among a select group of leaders whose impact has transcended business success to shape industries, institutions and lives.

A Vision Forged Through Resilience

Mrs. Pestonjee’s journey is widely regarded as one of the most inspiring entrepreneurial stories in Sri Lanka’s modern business history. In the late 1970s, at just 25 years old, married and raising three children, she embarked on an unconventional path at a time when female entrepreneurship was rare and economic conditions were challenging.

With imports restricted and household appliances considered luxuries, Mrs. Pestonjee identified an unmet social need easing the burden of domestic labour for Sri Lankan households. She began by purchasing consumer appliances from embassy auctions and reselling them locally, often retaining one unit for spare parts to ensure customer service.

Starting with no employees and operating from her own garage, she built her business on three principles that would later define the Abans Group: honesty, hard work and perseverance.

“You learn when you make mistakes and then come out stronger, because you understand the business better,” she later reflected in an interview with Harvard Business School.

Persistence That Built a Conglomerate

When Sri Lanka’s economy opened in 1978, demand surged but access to capital did not. Banks were reluctant to finance a small, woman led enterprise. Undeterred, Mrs. Pestonjee wrote repeatedly to international manufacturers, determined to secure global partnerships.

Her persistence paid off when Electrolux became the first multinational brand to place its trust in her business, impressed by her commitment to after sales service and customer care. That partnership marked a turning point, paving the way for alliances with global brands including Belling, Hoover, and LG (formerly Gold Star).

From a modest home based operation in Bambalapitiya, Abans expanded into Colpetty, where its first purpose-built office was constructed a building that now stands six storeys tall, mirroring the company’s growth.

A Family Driven Legacy

Abans remains a deeply family rooted enterprise. Mrs. Pestonjee’s values of persistence and long-term vision are evident across generations. The group’s entry into the quick service restaurant sector through McDonald’s Sri Lanka followed a decade long effort led by her son, Russy a testament to the same resilience that defined her own journey.

Today, the Abans Group comprises over 20 independently operating businesses, employs more than 10,000 people, and is expected to exceed Rs. 50 billion in annual turnover. Its interests span retail, manufacturing, logistics, real estate, engineering, energy and food services.

Leadership with Purpose

Beyond commercial success, Mrs. Pestonjee has consistently championed ethical leadership and social responsibility. She has often emphasised that business should serve society, not merely generate profit.

“If a woman wants to go into business,” she has said, “she should not focus only on what she will gain, but on how the business can benefit society.”

It is this philosophy combining commercial discipline with human values that has earned her respect across Sri Lanka’s corporate landscape and international recognition as a role model for women entrepreneurs.

An Enduring Inspiration

The Lifetime Achievement Award recognises not only Mrs. Aban Pestonjee’s business accomplishments, but also her enduring influence as a mentor, trailblazer and symbol of possibility.

At a time when conversations around women’s leadership continue to evolve, her story stands as powerful proof that vision, integrity and perseverance can overcome structural barriers and that leadership, when rooted in purpose, leaves a legacy far beyond balance sheets.

For Sri Lanka’s business community, and especially for aspiring women leaders, Mrs. Aban Pestonjee’s journey remains a reminder that lasting success is built not overnight, but through courage, conviction and unwavering belief.

-Bizwire Editorial

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