• CCS - Corporate Governance

Corporate Governance

At Ceylon Cold Store, we pride ourselves on our well-structured corporate governance framework, built on the core principles of accountability, participation and transparency, which has been the cornerstone of our steady advancement over the years. 

Corporate Governance

Whilst we constantly re-align, reinvent and adapt to the changing business landscape, our corporate governance philosophy is institutionalised across all business units through a strong set of corporate values, a written code of conduct and a performance management and values monitoring system. 

Good governance practices are engrained in the group’s culture, creating an enabling environment for growth in a structured, predictable and sustainable manner. It is this governance mindset which has enabled us to continuously create value for all our stakeholders notwithstanding the external environment and macro conditions.

CCS governance framework has its own set of internal benchmarks, processes and structures towards meeting accepted best practices in governance, in addition to the “triggers” which ensure compliance with mandatory regulatory requirements.   

Corporate Governance

Board Refreshment and Independence:
CCS believes in striking a balance between board refreshment, independence, and experience by integrating new young and talented board members with our wellexperienced directors, who are seasoned with the nature of the business.

Greater Employee Involvement in Governance:
Our employees play a pivotal role in reinforcing an effective governance system across the CCS. Going forward, we will continue to encourage greater employee participation by;

  • Further strengthening of the performance management process and enhanced engagement via the employee information systems.
  • Engagement and empowerment via greater authority. 
  • Increased communication and collaboration among our team members.
  • Adoption of differentiated means of communication based on the age dynamics of employee segments.

Key Internal Benchmarks

  • Company Articles of Association and other constitutional documents
  • Recruitment and selection policies
  • Learning and development policies
  • Policy on career management and promotions
  • Rewards and recognition policy
  • Leave, flexible schedule and remote working policies
  • Code of conduct
  • Policy against workplace sexual harassment
  • Policies on forced, compulsory and child labour
  • Disciplinary procedure
  • Policy on grievance handling
  • Anti-fraud policy
  • Policy on communications and advertising
  • Ombudsperson policy
  • Group accounting procedures and policies
  • Policies on enterprise risk management
  • Policies on fund management and Forex risk mitigation
  • IT policies and procedures, including data protection and security
  • Group environmental and economic policies
  • Policies on energy, emissions, water and waste management
  • Policies on products and services
Corporate Governance

Digital Oversight, Data Protection and Cyber Security:
The rapidly advancing nature of technology and the continual integration of the Group's operations with technological progress have resulted in CCS being more vulnerable from a digital standpoint.

Therefore, we place a significant emphasis on ensuring that the group's soft and hard infrastructure is adequate to meet an inevitable breach. Data protection and cybersecurity are regularly addressed during the Risk Management and Audit Committee meetings and periodically discussed at the director board level.