Royal Ceramics wins Forbes' award for Asia's best return on investment short term
Royal Ceramics Lanka Plc, which was one of the two Sri Lankan companies to be featured in this year’s Forbes ‘Asia’s 200 Best Under a Billion’ list, clinched a surprise award announced at last night’s ceremony in Hong Kong by being honoured for achieving the best return on investment short term in Asia.
Rocell Managing Director Nimal Perera told Daily FT that the second award wasn’t announced previously, but was presented at the ceremony held at Four Seasons Hotel in Hong Kong. Perera said Rocell was congratulated by Forbes Asia for this rare honour by a Sri Lankan company. Apart from Royal Ceramics, the other Sri Lankan company to be included in this year’s ‘Best Under a Billion’ list was Colombo Dockyard though it wasn’t present at last night’s ceremony to collect the award.
Rocell was among the 151 new entrants in this year’s list, which ranks top performing small and mid-size companies with sales below US$ 1 billion in Asia. Forbes surveyed 22,500 publicly listed companies in the Asia-Pacific for this year’s ranking. The inclusion is based on outstanding performance on criteria such as earnings, sales growth and shareholder return on equity in the previous 12 months and over three years.
Analysts attributed the ranking to Rocell’s adherence to the best manufacturing methods and management practices used in the production of the best quality products. Analysts said the entry of Royal Ceramics, which is 100% home grown and relatively new in the corporate league, is significant. The inclusion reflects the strong improvement in the performance of Royal Ceramics set up in 1990 and revamped by biggest shareholder Deputy Chairman Dhammika Perera and Managing Director Nimal Perera, they added. |
