Monday, 20 January 2020 06:34

75 year old Nimal Perera takes the reigns of SLT at the next EGM

Sri Lanka Telecom (SLT) now running at around Rs.60 billion in debt due to inefficient and corrupt management headed by Kumrasinghe Sirisena has convened an Extraordinary General Meeting (EGM) to endorse the appointment new chairman.

Shareholder approval is to be sought to appoint 75 year old Nimal Perera as the new Director and eventually the Board to elect him as the Chairman.

However SLT trade unions say that the company will fall from prying pan into fire by appointing this elderly citizen without modern telecom trends and experiences.

SLT has to access local banks to refinance its maturing debt and resurrect the collapsing, the island’s main fixed line telco by proper management practices under a dynamic, experienced and qualified young telecom engineering professional, Union leaders said.

But their appeals to the President and Prime Minister have fallen into deaf ears following the appointment of Nimal Perera as the chairman, they said adding that this was like”Kehi gani deela hotu gani gaththa wage “( taking woman with nasal discharge giving up the woman with persistent cough ).

They also protested against the plan of appointing Former Mobitel CEO Ranjith Rubasinghe as a SLT Director who was allegedly involved in corrupt practices.

In terms of Section 211 of the Companies Act No. 7 of 2007, his appointment is required to be made by the shareholders declaring that the age limit of 70 years referred to in Section 210 of the said Act, shall not apply to Perera. The EGM is scheduled for 30 January.

Secretary to the Treasury, which owns 49.5% stake in SLT, has proposed the appointment of Perera to the Directorate.

Global Telecommunications Holdings N.V. is the holding company of Maxis, the Malaysia-based telecommunication company holding a 44.98% stake is expected to endorse the proposal at the EGM. .

The Board having considered the proposal made by the Secretary to the Treasury recommends the appointment of Perera as an Independent Non-Executive Director to the Board of SLT.

Perera as the Chairman of the Urban Development Authority between 2012 and 2015 made a major impact towards the renaissance of urban development.

During the 52-day Government late 2018, was appointed Chairman of Sri Lanka Tea Board (SLTB) and as Chairman of State Engineering Corporation.

 

(LI)

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