SECTOR WINNER LISTED | DIVERSIFIED

John Keells Holdings (JKH), the country’s largest listed conglomerate, operates across sectors including transportation, leisure, property, consumer foods, financial and plantation services, IT and retail. This portfolio, driving economic growth, made JKH Sri Lanka’s ‘most respected entity’ for the 19th year. JKH received many accolades including ‘Most Transparent Entity’ by Transparency International Sri Lanka (TISL) for the fourth consecutive year; was recognised for sustainability reporting at the TAGS Awards; and received the ‘Organisation promoting equity/equality and diversity of the year’ award from Women in Management (WIM) and the IFC, in 2023.

Q: What is ‘corporate respect’ in your estimate?

A: Corporate respect is a reflection of the trust, integrity and positive impact we have consistently demonstrated in our interactions with people, clients, investors, partners, the community and other stakeholders. It starts with fostering an inclusive workplace where all our people feel valued and respected so as to do their best at work.

Through ONE JKH – our diversity, equity and inclusion (DE&I) initiative – we consistently work on long-term initiatives that focus on increasing female participation in our workforce, ensuring inclusivity for the LGBTIQ+ community and increasing career opportunities for persons with disabilities, for which we have been recognised as setting benchmarks in the Sri Lankan corporate sector.

It is also about ethical business conduct and delivering value with excellence, where we have been recognised and respected.

Finally, it is also about actively contributing to the betterment of society as a whole and the empowerment of the communities in which we operate.

Our livelihood development projects, English language and higher education scholarships, awareness programmes on eliminating gender-based violence and child protection, as well as other community-based initiatives of the John Keells Foundation, have played a pivotal role in this regard.

Ultimately, it’s the culmination of our relentless dedication to building strong relationships, fostering trust and making a meaningful difference in people’s lives.

Krishan Balendra
Chairperson

Q: How best could one earn and maintain corporate respect today, given the volatile and uncertain business environment?

A: John Keells Holdings takes a strategic multifaceted approach that prioritises adaptability; transparency; and environmental, social and corporate governance (ESG). It’s about consistently delivering on commitments, listening to stakeholders, and proactively addressing challenges with integrity and agility.

Recognising Sri Lanka’s ever evolving economic landscape, this approach supports us in diverse ways.

It helps us to grow through exciting new ventures and sustainable business practices. Our collaboration with the Reliance Group to expand into the Indian consumer foods market and create growth for heritage brands such as Elephant House, and our diversification into ‘new energy vehicles’ (NEVs) with BYD are two recent examples.

Another key area is building trust, and we achieve this by consistently delivering on commitments across all our segments with clear goals and transparent communication on progress.

Throughout the COVID-19 pandemic and economic crisis, we remained committed to the significant investments we made – one of which was the ongoing development of ‘City of Dreams Sri Lanka’ (previously known as Cinnamon Life Integrated Resort), a billion dollar project poised to transform the country’s tourism industry.

Furthermore, we partnered with the Adani Group of India to initiate the West Container Terminal (WCT) project at the height of the economic crisis, demonstrating our belief in Sri Lanka’s infrastructure development and long-term potential.

Such qualities solidify our corporate reputation as a reliable and trustworthy entity, earning lasting respect that fuels long-term success, and allows us to contribute meaningfully to the country’s economic and social development.

“Ultimately, it’s the culmination of our relentless dedication to building strong relationships, fostering trust and making a meaningful difference in people’s lives”

Q: How do technological advancements help or hurt corporates, in the context of establishing and maintaining respect?

A: Broadly speaking, these advancements offer powerful tools for establishing and maintaining respect on the one hand. Digital and social media platforms provide avenues for direct transparent communication, and AI can enhance efficiency and accuracy in decision-making processes.

On the other however, technological advancements also pose challenges to corporate respect. Misuse of digital and social media platforms can lead to reputational damage through misinformation or mishandled crises.

Artificial intelligence may raise concerns about job displacement or bias in decision-making processes, which could erode trust among certain stakeholder groups. At John Keells Holdings therefore, we recognise technology’s potential to be a double-edged sword for corporate respect.

On the positive side, our social media platforms help us engage with our younger socially conscious and more informed audiences quickly, on our ESG initiatives and community projects.

For example, for ‘Start-Up-Cycle’ – the innovation challenge platform of our social entrepreneurship project Plasticcycle – we were able to gather 120 submissions on sustainable alternatives to plastic products from across Sri Lanka over a short period of time, purely through social media awareness campaigns.

Additionally, we’re using AI-powered recruitment and selection tools that are built to address any discrimination associated with biases at the time of shortlisting applications. We also prioritise robust data security measures and transparent data collection practices, to ensure user privacy and maintain trust with our stakeholders.

Overall, while technological advancements offer immense opportunities for us to enhance our reputation and respect, careful navigation and ethical implementation are essential to mitigate potential risks and maximise benefits, and this can only be achieved through the integrity of our people, who will always continue to be our greatest asset.

Q: In your opinion, how important are stakeholder perceptions in the context of corporate respect and admiration – and why?

A: I believe it’s clear that these play a critical role. But we must understand that it is a result of a journey of authentically and consistently communicating with all our stakeholder groups across multiple platforms.

Being open with our commitments and vocal about what we stand for helps with reputation and perception. Ultimately, these perceptions shape how the group is viewed, trusted and valued within its ecosystem, influencing its ability to attract talent, secure investments, gain the trust of our communities and maintain a competitive edge.

And we are proud to be recognised as Sri Lanka’s Most Respected Entity for the 19th year.

QUICK-FIRE ROUND

Three vital ingredients that earn corporate respect

Authenticity
Transparency
Innovation

Three global organisations that you respect  

Nestlé
Microsoft
Amazon

Corporate respect at JKH is built through trust, integrity and impactful actions across stakeholder groups. By fostering inclusivity, ethical conduct and strategic adaptability, and leveraging technology responsibly, JKH earned enduring respect, which led to the group driving long-term success and contributing positively to society and the economy.

Telephone 2306000 | Email jkh@keells.com | Website www.keells.com