CSE-SEC-SLID-KPMG host Family Business Forum

 From left: Dilshan Wirasekara, Daniel Trimarchi, Senaka Kakiriwaragodage, Thamali Rodrigo, Rushanka Silva, Imtiaz Esufally and Prakash Schaffter

• Focuses on ‘Building a Lasting Family Legacy: A Strategic Approach to Growth and Continuity’

The Colombo Stock Exchange (CSE), in collaboration with the Securities and Exchange Commission of Sri Lanka (SEC), Sri Lanka Institute of Directors (SLID) and KPMG, recently hosted a successful Family Business Forum themed ‘Building a Lasting Family Legacy: A Strategic Approach to Growth and Continuity’.

The event brought together family business owners, industry leaders and experts to explore critical topics, including planning for the inevitable change within family businesses, ownership and management succession, separation and long-term planning of family wealth and business wealth, governance frameworks that contribute to business longevity and strategic pathways to public listing. The forum engaged close to 150 participants and provided valuable insights for unlisted family-owned businesses seeking long-term sustainability and growth.

Guest speaker at the forum, SEC Chairman Senior Prof. D.B.P.H. Dissabandara stated, “We need to shift the country’s mindset from one focused on savings to one that refocuses more on investment, which is essential for long-term economic growth. Increasing our investment-to-GDP ratio and creating real value are critical to this transformation.”

He went on to say, “Encouraging and supporting business listings play a crucial role, as the capital market not only provides access to funding but also fuels value creation and promotes sustainable growth. This approach will undoubtedly unlock the country’s full economic potential and foster lasting growth.” 

“SMEs constitute 70 percent of the economy, employing, innovating, investing and driving the long-term progress of this nation. Sustained growth cannot be achieved without your contribution. Yet, one of your most critical challenges is financing. Without adequate financing, the growth we envision cannot be realised. Capital formation is essential and the capital market stands ready to support you. The regulatory framework has been strengthened, a robust new act is in place and mechanisms have been established to safeguard investors,” said Prof. Dissabandara. 

In closing, he mentioned, “There is no need to fear loss of control, your visionary leadership will be preserved. Allow others to participate, grow with transparency and move forward with confidence. The future of Sri Lanka’s economy depends significantly on your contribution and we are committed to supporting and facilitating your advancement.”

Delivering the keynote address, KPMG Australia Director and KPMG Private Enterprise’s Centre of Excellence for Family Business Global Managing Director Daniel Trimarchi emphasised the importance of redefining success, building fit-for-purpose governance and navigating succession in a way that reflects each family’s unique values and circumstances. 

He said, “When we change the scorecard in terms of what success looks like, we set the family up for success in how they define it. These are different measures of success that don’t hold financial metrics but in many families, they hold very significant meaning. It’s about defining shared purpose, enabling continuity and managing wealth in a way that aligns with the family’s values because ultimately, the solution each family needs will be unique. It’s not about fixing what worked before but evolving towards what fits for the future, structured, intentional and human at its core.”

The forum also featured a panel discussion with distinguished speakers including former CSE Chairman Dilshan Wirasekara, Hemas Holdings PLC Group Director Imthiaz Esufally, NDB Capital Holding Limited CEO Senaka Kakiriwaragodage, Trimarchi, Janashakthi Insurance PLC Executive Deputy Chairman and Janashakthi Group Deputy Chairman Prakash Schaffter and Sampath Bank PLC Deputy Chairman and Indra Traders (Pvt.) Ltd Managing Director Rushanka Silva. The session was moderated by KPMG Sri Lanka and Maldives Partner and Head of Restructuring, Enterprise Advisory and Corporate Governance Thamali Rodrigo.

An interactive Q&A session allowed the attendees to engage with the panellists and deepen their understanding of the challenges and opportunities in family business governance, while also providing actionable insights to help them navigate generational transitions more effectively.

This initiative reflects the collaborative efforts of the CSE, SEC, SLID and KPMG to empower family-owned enterprises with knowledge, frameworks and growth pathways. It underlines the potential of capital markets to support generational transitions while enabling businesses to access long-term, sustainable financing options.