Corporate Governance

Sound corporate governance is key to managing our businesses across key economic sectors of the country. Our governance structures have evolved over the years keeping pace with regulatory developments and international best practice, carefully balancing legitimate interests of our key stakeholders. A robust framework of structures, policies, codes, procedures and processes ensure that our values and standards are upheld throughout the Group.

Sunshine Holdings PLC is the holding company of four subsidiaries namely Sunshine Healthcare Lanka Limited, Estate Management Services (Pvt.) Limited, Watawala Tea Ceylon Limited, and Sunshine Energy Limited.

The Group is committed to good corporate governance, which promotes the long-term interests of shareholders, strengthens Board and management accountability and helps build public trust in the Company.

The Board of Directors is elected by the shareholders to oversee their interest in the long-term health and the overall success of the business and its financial strength. The Board which comprises of members with experience and knowledge in the areas of business-in which the company is engaged, with specific acumen in terms of commercial, financial and or technical expertise-serves as the ultimate decision making body of the Group. The Board selects and oversees the members of senior management, who are charged by the Board with conducting the business of the Company.

The Board has established Corporate Governance Guidelines, which provide a framework for the effective governance of the Group. It provides the directors and the corporate management a direction of their duties and responsibilities. These standards clarify the matters, which require Board and committee approvals, advice or review.

The Board regularly reviews developments in corporate governance and updates the Corporate Governance Guidelines and other governance materials, as it deems necessary and appropriate. The Board also provides guidance for the formulation of the Group’s short, medium and long term strategic plans and approves the same at meetings convened specifically for this purpose. It also monitors performance against agreed Key Performance Indicators at monthly meetings of the Board whilst Group Executive Committee (Ex-com) identifies specialised areas for oversight who report on progress and concerns to the Board. Ex-com members are responsible for formulating strategies, action plans with respect to their business units, which are subject to approval by the board.