Connect with us

Business

SLT statement on media coverage of Board changes

Published

on

The Board of Directors (“Board”) of Sri Lanka Telecom PLC (“SLT”) refer to the recent media coverage of Boardroom changes at SLT.

This note is to provide factual information and clarity on the corporate identity of SLT, the role, responsibilities, authority and accountability of management and the Board (including the Chairman of the Board), and in particular the separation of powers between the Board and Management. All of the information in this note is already available in public sources.

SLT was incorporated under the then Companies Act No. 17 of 1982 (now superseded by the Companies Act No.7 of 2007). SLT is listed and quoted on the Colombo Stock Exchange (“CSE”) and is governed via the tenets of SLT’s Articles of Association (“Articles of Association”). The Government of Sri Lanka and Global Telecommunications Holdings (“GTH”) have a 49.5% and 44.98% equity interest in SLT. SLT has about 13700 other shareholders. As disclosed in the Annual Report, GTH is wholly owned by Usaha Tegas Sdn Bhd, which is incorporated in Malaysia. SLT is therefore not a state-owned corporation nor a government organization as opposed to government corporations established under separate enactments.

As a listed company, SLT complies with the CSE Continuing Obligations and the Code of Best Practice on Corporate Governance (“CG Code”). A copy of the Articles of Association is available for review at its registered office and the websites of SLT and CSE.

The Board plays a stewardship role in accordance with the CG Code which provides details on the role, responsibilities and authority of the Board and Management.

The Board, including the Chairman, is non-executive. This means that no director, including the Chairman of the Board, has the authority to make individual decisions or give individual instructions to members of management or staff. Board decisions and instructions are made and conveyed by formal, minutes and collective Board decisions.

The position of the Chairman at SLT is not to be confused with that of Executive Chairman in other public companies or State-Owned Corporations. The Chairman of the SLT Board has the primary role to chair board meetings and facilitate and ensure the workings of the Board. The Chairman is appointed by the Board in accordance with the Articles of Association.

All Directors, including the Chairman are non-Executive and are not employees of SLT. Their role is not full time. They are therefore not entitled to a salary nor benefits that accrue to employees. All Directors in SLT, including the Chairman, do receive fees for the discharge of their fiduciary duties.

SLT is led by a Chief Executive Officer (“CEO”) who is appointed by the Board. It is the CEO and the management team that operate the business and make the executive decisions within the powers provided to them by the Articles of Association. The CEO is an employee and is paid a salary.

The separation of powers, that the Board undertakes the oversight role and the management the executive role, ensures clear delineation of roles, responsibilities, authority and most importantly, accountability.

Compliance with related party transactions and its related disclosures in accordance with Sri Lanka Financial Reporting Standards 24 are monitored by the Related Party Transactions (“RPT”) Committee of the Board. The Board wishes to confirm that the present Chairman has not only disclosed his related party interests but that he has in fact made disclosures over and above regulatory requirements. The Board has robust controls in place to ensure that if a director does not disclose related party interests or interferes in areas where there is conflict, the Board will take the necessary action in accordance with the law and regulations.

The Board does hope that this statement provides clarity for the informed stakeholder. We humbly request that aggrieved and interested parties that have concerns regarding the governance of SLT address the appropriate forum of the regulatory authorities or the courts of law. The Board will not want to enter into the bowels of public debate and correct each and every uninformed, misguided, erroneous or unwarranted statement.



Business

Dialog Brings the ICC Men’s T20 Cricket World Cup 2026 Closer to Sri Lankans

Published

on

Left to right: Mr Bandula Dissanayake, Honorary Secretary, Sri Lanka Cricket; Mr. Raveen Wickramarathne, Honorary Vice President, Sri Lanka Cricket; Dr. Jayantha Dharmadasa, Honorary Vice President, Sri Lanka Cricket; Mr. S. Achchudan, Director General of Sports; Mr. Supun Weerasinghe, Director / Group Chief Executive, Dialog Axiata PLC; Mr. Dasun Shanaka, Captain - Sri Lanka National T20 Squad; Mr. Lasantha Theverapperuma, Group Chief Marketing Officer, Dialog Axiata PLC; Mr. Pubudu Aluthgedara, Vice President / Head of Business - Media and Home, Dialog Axiata PLC

Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider, hosted an event to mark the ICC Men’s T20 Cricket World Cup 2026, bringing together stakeholders and cricket enthusiasts as Sri Lanka looks ahead to one of the world’s most anticipated sporting events.

Over the years, Dialog has played an enduring role in supporting sport in Sri Lanka, with cricket at its core, enabling access to the game through partnerships and nationwide initiatives, reflecting its commitment to Powering the Passion of the Nation. Against this backdrop, securing the ICC media rights in Sri Lanka for the 2026–2028 period represents an important milestone in Dialog’s ongoing journey of bringing the world’s leading cricket tournaments to Sri Lankan audiences.

The event was attended by representatives from the Sports Ministry, Sri Lanka Cricket, the media, and the corporate sector, alongside former and current national cricketers. It recognised Sri Lanka’s proud cricketing legacy and the deep-rooted following the game enjoys among fans, while underscoring the scale and significance of the ICC Men’s T20 Cricket World Cup 2026 for local audiences.

As anticipation builds towards the tournament, the ICC Men’s T20 Cricket World Cup trophy was ceremonially showcased during the event, offering those present a closer look at a widely recognised symbol of the competition.

S.Achhudan, Director General of Sports said, “Sport plays an important role in strengthening national unity and identity. Public–private partnerships, such as Dialog’s continued support for cricket, are important in sustaining the sports ecosystem and in enabling broad public access to major international sporting events.”

Commenting on the occasion, Supun Weerasinghe, Director / Group Chief Executive of Dialog Axiata PLC, said, “Cricket holds a special place in Sri Lanka, with a following that spans generations and communities. Global tournaments such as the ICC Men’s T20 Cricket World Cup are events that fans look forward to and remember. At Dialog, our focus is to play a meaningful role in enabling these experiences — ensuring Sri Lankans can follow the game across platforms, with the quality, reliability, and reach it deserves.”

Sharing his views on the collaboration, Mr. Bandula Dissanayake, Honorary Secretary of Sri Lanka Cricket, said, “The ICC Men’s T20 Cricket World Cup is a major event for the sport and for cricket-loving nations such as Sri Lanka. With Dialog as the ICC media rights holder in Sri Lanka for the 2026–2028 period, this collaboration supports strong engagement around the tournament and reflects the scale of interest cricket continues to enjoy across the country.”

Sri Lankan fans will be able to follow the ICC Men’s T20 Cricket World Cup 2026 on Dialog Television and the Dialog Play App, alongside a free-to-air broadcast partnership with Supreme TV, ensuring wide access to the tournament.

Continue Reading

Business

‘Notable drop in SL’s 2025 tourism sector earnings compared to those of 2018’

Published

on

Chandana Amaradasa addressing the meeting while Rotary Club Colombo South President Kumar Sithambaram looks on.

The revenue that was earned from the tourism sector in 2025 was US $ 3.2 billion, which is a significant drop compared to the 2018 figure , which is US$ 4.3 billion, a top tourism sector specialist said.

‘Comparatively there is a revenue deficit of US $ 1.2 billion, which we cannot be satisfied with at any cost, ‘Island Leisure Lanka’ founder chairman Chandana Amaradasa said.

Amaradasa made these observations at a Rotary Club joint meeting organised by Rotary Club Colombo South, featuring also the Rotary Clubs of Kolonnawa and Sri Jayawardenapura, at the Kingsbury Hotel on Tuesday.

Amaradasa added: ‘To develop the tourism sector the government has to do many things which previous governments comprehensively failed to take up.

‘The revenue that comes from the local tourism sector is four to five percent of the GDP, while in Dubai it is more than 45 percent of the GDP.

‘At present the country has 51000 rooms, out of which not more than 10000 rooms are at the four to five star level. Of that number 6000 rooms are located in Colombo, which is a major issue for tourism promotion in tourism potential areas.

‘Sri Lanka should focus on high quality standards in tourism and also develop the East Coast with the necessary infrastructure; especially having an international airport is absolutely necessary.

‘Colombo could be developed as a MICE tourism hub in the region. But not having an international level conference/convention hall is a another bottle neck in promoting that market as well.’

By Hiran H Senewiratne  ✍️

Continue Reading

Business

A Record Year for Marketing That Works: SLIM Effie Awards Sri Lanka 2025 crosses 300+ entries

Published

on

The Sri Lanka Institute of Marketing (SLIM) announces a defining milestone for the country’s marketing, advertising, and creative sectors, as Effie Awards Sri Lanka 2025 records the highest number of entries in its history, crossing 300+ submissions. The unprecedented response reflects a stronger, more confident industry, one that is increasingly committed not only to bold creativity, but to creativity that can prove its value through measurable business and brand outcomes.

Now in its 17th year in Sri Lanka, the Effie Awards remain the most recognised benchmark for marketing effectiveness, honouring campaigns that bring together creative excellence, strategic discipline, and results. As the industry evolves, the Effies have become a space where the agency community, brand teams, media and creative partners are collectively challenged to raise the bar, moving beyond attention and awards, toward work that drives growth, shapes behaviour, and delivers real impact.

The record volume of entries this year also signals a healthy shift in the market: more brands and agencies are willing to be evaluated against rigorous effectiveness criteria, and to put forward work that demonstrates clear thinking, strong execution, and proof of performance. SLIM notes that this momentum highlights the expanding role of marketing and advertising in Sri Lanka, not simply as communication, but as a strategic driver of competitiveness and value creation.

SLIM confirms that the judging process will commence soon, guided by the established Effie evaluation framework that assesses entries on insight, strategy, execution, and measurable outcomes. The Grand Finale is scheduled for end-February 2026, where Sri Lanka’s most effective marketing work will be recognised on a national platform.

For inquiries, entries, and sponsorship opportunities, please contact the SLIM Events Division: +94 70 326 6988 | +94 70 192 2623.

Continue Reading

Trending