BIZ

Dr. Mothilal de Silva appointed new chairman of SLT

Published

8 months ago

November 4, 2024

editor

Dr. Mothilal de Silva has been appointed as an Independent, non-Executive Director and Chairman of the Board of Sri Lanka Telecom PLC with effect from today (Nov. 04).

With a career spanning over many decades, Dr Mothilal de Silva is a result oriented multidisciplinary C-level executive in the telecommunication industry having experience in Sri Lanka and multiple countries in Asia and Pacific regions. He is a turnaround specialist and a strategist.

Under his leadership as Group Chief Executive Officer, he turned around the Fiji’s state-owned telecommunication company Telecom Fiji Ltd sustainably after 5+ consecutive loss-making years. During his tenure at Telecom Fiji, the company registered consistent growth in profit, dividend and investment for network modernisation. He was also the Group Chief Strategy Officer and Group Chief Corporate Officer of Dialog Axiata, General Manager (Sales, Marketing and Customer Service) of MTN Networks Pvt Ltd and Vice President Process Excellence and Group Operations of Axiata Group Malaysia. He sat on the Board of Directors of Lanka Communication Services Pvt Ltd, a telecommunication service provider for enterprises in Sri Lanka.

As a C-level executive at Dialog, Mothilal set up Corporate Planning, Strategy, MIS, Business Intelligence, Performance Management, Quality, Process Reengineering, Enterprise Program Management and Corporate Development divisions from scratch while apprenticing young set of managers who had progressed to become leaders in Dialog and Axiata Group subsidiary companies. He was also instrumental in winning GSMA awards, International Asia Pacific Quality Award, Asia CSR award for Dialog Axiata and many national awards.

Mothilal obtained Doctor of Business Administration from PPA Business School, Paris, with a distinction for his dissertation “Corporate Venture Capital as an engagement model for co-creating 5G ready services”. He has a MSc in IT from Keele University UK, MBA from PIM, SL, BSc (Engineering) SL, Post Graduate Diploma in Strategic Management from Maastricht School of Management, Netherland and a Post Graduate Diploma in Marketing Management from PIM SL.

BIZ

CIB Big City fined Rs. 1 mn. for selling overpriced bottled water

Published

11 hours ago

June 26, 2025

editor

CIB Big City, a private business outlet in Maharagama, has been fined Rs. 1 million by the Gangodawila Magistrate’s Court today (June 26) for selling overpriced bottled water.

A case was filed against the business outlet following a raid carried out by the Consumer Affairs Authority (CAA) officials on May 09, 2025.

During the raid, officials had discovered that a 500 ml bottle of water has been sold at Rs. 90 despite the MRP being declared as Rs. 70 by a gazette notification published on April 01, 2025.

The store is a part of the well known fashion chain – Wijaya Group, which is chaired by Mr. K.R.G Wijesundera.

Related News :

MRP issued for bottled drinking water

BIZ

Oil prices plunge as Trump announces ceasefire

Published

3 days ago

June 24, 2025

editor

Oil prices fell sharply to their lowest in more than a week on Tuesday as U.S. President Donald Trump said a ceasefire has been agreed between Iran and Israel, alleviating worries of supply disruptions in the Middle East – a major oil-producing region.
Brent crude futures were down $2.08, or 2.9%, at $69.40 a barrel around 0330 GMT, after earlier tumbling more than 4% and touching its lowest level since June 11.

U.S. West Texas Intermediate crude declined $2.03, or 3.0%, to $66.48 per barrel, having dived 6% to its weakest level since June 9 earlier in the session.

BIZ

BOC to provide Rs. 10 Bn for grooming young entrepreneurs

Published

4 days ago

June 23, 2025

editor

Deputy General Manager of Development Banking and Branch Credit Operations of Bank of Ceylon (BOC) R.M.N. Jeewantha said that the Bank Has introduced a special programme to create new entrepreneurs for the country from young people with a business idea.

He stated that the basic requirement for becoming an entrepreneur is to have an entrepreneurial idea, and that the bank provides all other advisory services including financial and non-financial facilities required to become a successful entrepreneur.

He stated this at the Bank of Ceylon headquarters while participating in a special discussion with the Daily News newspaper on Friday (20).

“We provide all the resources, facilities and advice required for the young people who come in this way to practically implement their business ideas. Last year, this programme created 15,000 new young entrepreneurs for the country. This year, our aim is to bequeath another group of young people to the country. The bank is ready to provide Rs 10 billion rupees as the initial capital required for this group,” he said.

The bank provides an initial capital of Rs. 500,000 for the new start-up at the initial stage without any securities as no collateral is needed. He said that even for a person already engaged in a business, the bank will provide the necessary support free of charge to develop that business, sell products, introduce new products, and enter the export market. Accordingly, any person under the age of thirty can come to the bank’s SME Circle and receive the necessary advice and financial facilities to develop as an entrepreneur.

“Anyone under the age of thirty who has a business idea should come to the bank. The bank is ready to provide Rs. 500,000 as initial capital for such start-ups at a low interest rate of seven percent. They also do not need collateral,” he added.

(dailynews.lk)
(This story, originally published by dailynews.lk has not been edited by SLM staff)