"Savsiripaya"|SRI LANKA.
cgf@cgf.gov.lkConstruction Guarantee Fund
About CGF
We are a unique service oriented, non-profit, Financial Services Organization, providing bonds and guarantees to Construction Contractors, to enable them to secure construction projects and execute the projects proficiently.
VISION
“To be the preferred partner by choice in providing Financial Assistance to the Domestic (Local) Construction Contractors with a view to develop the Domestic Contractors & the Domestic Construction Industry as a whole”.
MISSION
“To serve as a financial respirator to the Domestic (Local) Construction Contractors and to ensure that the Domestic Construction Industry Business is carried on with integrity and professionalism and in a prudent manner with a view of strengthening the Domestic Construction Industry and safeguarding the Development Activities of the Economic Development of Sri Lanka”.
CORPORATE CREDIT RATING
Financial Credibility
Financial and Insurance Organizations such as the CGF, work towards maintaining their financial credibility and stability and for this reason, request International Credit Rating Agencies to assess the organization’s credit worthiness in order to inform to its stakeholders, with regard to the position and status of the organization in the financial market.
Globally there are major Corporate Credit Agencies who issue Ratings and especially in South East Asia and Sri Lanka, the active International Agencies are, Standard and Poor’s, Moody, Fitch Ratings and Lanka Ratings Agency.
In general, Fitch Ratings dominates the Sri Lankan market and CGF has periodically requested Fitch since 2019, to evaluate the CGF model and its performance and consequently was able to obtain a very comfortable rating from them. The recent review being obtained was in July 2023. The achieved ratings in recent years are as follows;
In year,
| 2023 | BB** |
|---|---|
| 2022 | BBB |
| 2021 | BBB |
| 2020 | BBB |
** Downgrade is due to the CGF’s direct linkage with the Government of Sri Lanka and the country’s Economy and not due any lack in the organization’s competencies.
As the Fitch Ratings, the rating agency continuously reviews the financial status and performance the latest review has been done in July 2023 and their remarks are given below,
Read MoreUnique and Special
Our Founder-A Gentleman par excellence
The late Dr. Eddie de Zylva, was an Engineer by profession, with over 60 years of experience in the construction industry. He held several senior managerial positions in many professional organizations and various committees and worked tirelessly in the pursuit of standards and best practices pertaining to the domestic construction industry.
He was known by all the sectors of the construction industry as the ‘Godfather of the construction industry’.
Dr. de Zylva, pioneered the formation of the National Contractors’ Association of Sri Lanka (NCASL) and the Construction Guarantee Fund, was his brainchild, which now over 20 years has helped many small and medium contractors, improve and uplift themselves, by gaining knowledge and receiving bank guarantees and other services, to further their business.