Sri Lankan apparel and fabric manufacturing giant MAS Holdings has been recognised as Exporting Conglomerate of the Year thanks to its work towards positioning the country as an ethical and sustainable sourcing destination.
The company was presented with the award by President Maithripala Sirisena in Colombo yesterday (18 September). It was introduced for the first time to appreciate and celebrate export excellence by a Sri Lankan corporate at the Presidential Export Awards 2018.
At the same event, MAS Intimates was honoured with the ‘Exporter of the Year’ award, as well as receiving the overall awards for ‘Net Foreign Exchange Earner’ and ‘Contributor from the Region to the Export Supply Chain’.
MAS Intimates also walked away with sectoral award for the ‘Highest Foreign Exchange Earner – Apparel’, while MAS Fabrics Matrix won ‘Highest Foreign Exchange Earner – Footwear’.
“Today, consumer dynamics have evolved, and digital commerce is disrupting the traditional retail landscape,” says Deshamanya Mahesh Amalean, chairman & co-founder of MAS Holdings. “Digitisation is creating opportunities while innovation will play an important role in transforming the apparel industry.
“MAS is proud to have contributed towards positioning Sri Lanka as an ethical and sustainable destination for high value-added, technologically advanced design-to-delivery apparel solutions. These awards are a testament of the hard work and commitment shown by all our associates across the country and beyond.”
Initiated by the Export Development Board in 1981, the Presidential Export Awards (PEA) are the most prestigious awards for exports in Sri Lanka and are presented to exporters who have made a significant contribution to Sri Lanka’s exports.
They recognise and reward the top performers of the export community who contribute largely to national development. The awards are conferred following a stringent selection process, curating those who excel in export business, especially in non-traditional products and services. The Conglomerate of the Year Award was adjudged based on criteria that encapsulated a company’s export turnover, financial performance, value addition and creation of employment opportunities. Focused areas such as product and market innovation as well as the implementation of sustainable policies were also evaluated.
Other measures considered are a company’s impact through CSR, implementation of Quality Management Systems, incremental growth of exports, and exports under Sri Lankan registered brands.
In July, MAS launched a renewable energy initiative, which will see the implementation of what it claims is one of the region’s largest recorded multi-site roof mounted projects.